Kennedy-Wilson (KW) 10-K 22 Feb 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 21, 2023	Jun. 30, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-33824
Entity Registrant Name	Kennedy-Wilson Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-0508760
Entity Address, Address Line One	151 S El Camino Drive
Entity Address, City or Town	Beverly Hills,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90212
City Area Code	310
Local Phone Number	887-6400
Title of 12(b) Security	Common Stock, $.0001 par value
Trading Symbol	KW
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	true
Entity Public Float			$ 1,966,551,848
Entity Common Stock, Shares Outstanding		137,967,125
Documents Incorporated by Reference	Part III of this report incorporates certain information by reference from the registrant’s definitive proxy statement for the annual meeting of stockholders to be held on or around June 8, 2023, which proxy statement will be filed no later than 120 days after the close of the registrant’s fiscal year ended December 31, 2022.
Entity Central Index Key	0001408100
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Auditor Information [Abstract]
Auditor Name	KPMG LLP
Auditor Location	Los Angeles, CA
Auditor Firm ID	185

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents		$ 439.3	$ 524.8
Accounts receivable, net (including $13.9 and $14.2 of related party)		40.8	36.1
Real estate and acquired in place lease values (net of accumulated depreciation and amortization of $882.2 and $838.1)		5,188.1	5,059.8
Unconsolidated investments (including $2,093.7 and $1,794.8 at fair value)		2,238.1	1,947.6
Other assets		216.1	177.9
Loan purchases and originations		149.4	130.3
Total assets	[1]	8,271.8	7,876.5
Liabilities
Accounts payable		16.2	18.6
Accrued expenses and other liabilities		658.2	619.1
Total liabilities	[1]	6,261.4	6,072.6
Equity
Series A cumulative preferred stock, $0.0001 par value, $1,000 per share liquidation preference, 1,000,000 shares authorized, 300,000 shares outstanding as of December 31, 2022 and December 31, 2021 and Series B cumulative preferred Stock, $0.0001 par value, $1,000 per share liquidation preference, 1,000,000 shares authorized and 300,000 shares outstanding as of December 31, 2022		592.5	295.2
Common Stock, $0.0001 par value, 200,000,000 authorized, 137,790,768 and 137,955,479 shares issued outstanding as of December 31, 2022 and December 31, 2021, respectively		0	0
Additional paid-in capital		1,679.5	1,679.6
Retained earnings		122.1	192.4
Accumulated other comprehensive loss		(430.1)	(389.6)
Total Kennedy-Wilson Holdings, Inc. shareholders’ equity		1,964	1,777.6
Noncontrolling interests		46.4	26.3
Total equity		2,010.4	1,803.9
Total liabilities and equity		8,271.8	7,876.5
Mortgage debt
Liabilities
Debt		3,018	2,959.8
KW unsecured debt
Liabilities
Debt		2,062.6	1,852.3
KWE unsecured bonds
Liabilities
Debt		$ 506.4	$ 622.8
[1]The assets and liabilities as of December 31, 2022 include $169.8 million (including cash held by consolidated investments of $6.1 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $137.8 million) and $82.4 million (including investment debt of $51.2 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2021 include $189.6 million (including cash held by consolidated investments of $11.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $152.8 million) and $129.2 million (including investment debt of $103.3 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021
Assets
Accounts receivable, net (including $13.9 and $14.2 of related party)		$ 13.9	$ 14.2
Real estate and acquired in place lease values (net of accumulated depreciation and amortization of $882.2 and $838.1)		882.2	838.1
Unconsolidated investments (including $2,093.7 and $1,794.8 at fair value)		2,093.7	1,794.8
Assets	[1]	8,271.8	7,876.5
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		5,188.1	5,059.8
Liabilities
Total liabilities	[1]	$ 6,261.4	$ 6,072.6
Stockholders' Equity Attributable to Parent [Abstract]
Common stock par value (in dollars per share)		$ 0.0001	$ 0.0001
Common stock authorized (in shares)		200,000,000	200,000,000
Common stock issued (in shares)		137,790,768	137,955,479
Common stock outstanding (in shares)		137,790,768	137,955,479
Series A Cumulative Preferred Stock
Stockholders' Equity Attributable to Parent [Abstract]
Cumulative preferred stock, par value (in dollars per shares)		$ 0.0001	$ 0.0001
Cumulative preferred stock, liquidation preference (in dollars per share)		$ 1,000	$ 1,000
Cumulative preferred stock, shares authorized (in shares)		1,000,000	1,000,000
Cumulative preferred stock, shares outstanding (in shares)		300,000	300,000
Series B Cumulative Preferred Stock
Stockholders' Equity Attributable to Parent [Abstract]
Cumulative preferred stock, par value (in dollars per shares)		$ 0.0001
Cumulative preferred stock, liquidation preference (in dollars per share)		$ 1,000
Cumulative preferred stock, shares authorized (in shares)		1,000,000
Cumulative preferred stock, shares outstanding (in shares)		300,000
Variable Interest Entity, Primary Beneficiary
Assets
Assets		$ 169.8	$ 189.6
Cash held by consolidated investments		6.1	11.5
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		137.8	152.8
Liabilities
Total liabilities		82.4	129.2
Variable Interest Entity, Primary Beneficiary | Investment Debt
Liabilities
Debt		$ 51.2	$ 103.3
[1]The assets and liabilities as of December 31, 2022 include $169.8 million (including cash held by consolidated investments of $6.1 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $137.8 million) and $82.4 million (including investment debt of $51.2 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2021 include $189.6 million (including cash held by consolidated investments of $11.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $152.8 million) and $129.2 million (including investment debt of $103.3 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue
Total revenue	$ 540	$ 453.6	$ 454
Gain on sale of real estate, net	103.7	412.7	338
Income from unconsolidated investments
Principal co-investments	199.5	271.1	78.3
Performance allocations	(21.1)	117.9	2.7
Income from unconsolidated investments	178.4	389	81
Expenses
Share-based compensation	29	28.7	32.3
Performance allocation compensation	(4.3)	42	0.2
General and administrative	37.2	33.3	34.6
Depreciation and amortization	172.9	166.3	179.6
Total expenses	526.8	549.6	508.1
Interest expense	(220.8)	(192.4)	(201.9)
Gain (loss) on early extinguishment of debt	27.5	(45.7)	(9.3)
Other income (loss)	36.1	(5)	(2.3)
Income before provision for income taxes	138.1	462.6	151.4
Provision for income taxes	(36.2)	(126.2)	(43.6)
Net income	101.9	336.4	107.8
Net (income) loss attributable to the noncontrolling interests	(8.2)	(6)	2.3
Preferred dividends	(28.9)	(17.2)	(17.2)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 64.8	$ 313.2	$ 92.9
Basic Earnings per share
Income per basic (in dollars per share)	$ 0.47	$ 2.26	$ 0.66
Weighted average shares outstanding for basic (in shares)	136,900,875	138,552,058	139,741,411
Diluted Earnings per share
Income per diluted (in dollars per share)	$ 0.47	$ 2.24	$ 0.66
Weighted average shares outstanding for diluted (in shares)	138,567,534	140,132,435	140,347,365
Dividends declared per common share (in dollars per share)	$ 0.96	$ 0.90	$ 0.88
Rental
Revenue
Total revenue	$ 434.9	$ 390.5	$ 403.9
Expenses
Cost of goods sold	151.2	132.7	135.7
Hotel
Revenue
Total revenue	46.9	17.1	13.9
Expenses
Cost of goods sold	29.5	12.7	13.8
Investment management fees
Revenue
Total revenue	44.8	35.3	22.5
Property service fees
Revenue
Total revenue	1.7	2.1	10.6
Loans and other
Revenue
Total revenue	11.7	8.6	3.1
Compensation and related
Expenses
Cost of goods sold	$ 111.3	$ 133.9	$ 111.9

Consolidated Statements of In_2

Consolidated Statements of Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related party fees	$ 45.2	$ 35.3	$ 22.8
Investment management fees
Related party fees	44.8	35.3	22.5
Property service fees
Related party fees	$ 0.4	$ 0	$ 0.3

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net income	$ 101.9	$ 336.4	$ 107.8
Other comprehensive (loss) income, net of tax:
Unrealized foreign currency translation (loss) gain	(71.7)	(58.3)	66.5
Amounts reclassified out of AOCI during the year	(0.8)	2.2	0.8
Total other comprehensive (loss) income for the year	(43.5)	3.3	24.2
Comprehensive income	58.4	339.7	132
Comprehensive (income) loss attributable to noncontrolling interests	(5.2)	(5.2)	1.7
Comprehensive income attributable to Kennedy-Wilson Holdings, Inc.	53.2	334.5	133.7
Foreign Exchange Contract
Other comprehensive (loss) income, net of tax:
Unrealized gain (loss) on derivative instruments	23.4	56.2	(37.8)
Interest Rate Swap
Other comprehensive (loss) income, net of tax:
Unrealized gain (loss) on derivative instruments	$ 5.6	$ 3.2	$ (5.3)

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Foreign Exchange Contract	Interest Rate Swap	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Foreign Exchange Contract	Accumulated Other Comprehensive Loss Interest Rate Swap	Noncontrolling Interests
Beginning balance outstanding (in shares) at Dec. 31, 2019				300,000	142,283,109
Balance at beginning of period at Dec. 31, 2019	$ 1,719.2			$ 295.2	$ 0	$ 1,754.5	$ 46.2	$ (417.2)			$ 40.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares forfeited (in shares)					(62,710)
Restricted stock grants (RSG) (in shares)					2,543,551
Shares retired due to RSG vesting (in shares)					(571,983)
Shares retired due to RSG vesting	(11.6)					(11.6)
Shares retired due to common stock repurchase program (in shares)					(2,826,644)
Shares retired due to common stock repurchase program	(45.8)					(50)	4.2
Stock based compensation	32.3					32.3
Other comprehensive (loss) income:
Unrealized foreign currency translation gain (loss), net of tax	66.7							66.1			0.6
Unrealized currency derivative contracts gain (loss)		$ (37.8)	$ (4.7)						$ (37.8)	$ (4.7)
Common stock dividends	(125.6)						(125.6)
Preferred stock dividends	(17.2)						(17.2)
Net income	107.8						110.1				(2.3)
Contributions from noncontrolling interests	4.5										4.5
Distributions to noncontrolling interests	(18.9)										(18.9)
KW Europe II deconsolidation	3.8										3.8
Ending balance outstanding (in shares) at Dec. 31, 2020				300,000	141,365,323
Balance at end of period at Dec. 31, 2020	1,672.7			$ 295.2	$ 0	1,725.2	17.7	(393.6)			28.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares forfeited (in shares)					(237,588)
Restricted stock grants (RSG) (in shares)					619,945
Shares retired due to RSG vesting (in shares)					(967,536)
Shares retired due to RSG vesting	(20.5)					(20.5)
Shares retired due to common stock repurchase program (in shares)					(2,824,665)
Shares retired due to common stock repurchase program	(62.7)				$ (62.7)	(50)	(12.7)
Stock based compensation	28.7					28.7
Other comprehensive (loss) income:
Unrealized foreign currency translation gain (loss), net of tax	(56.6)							(55.8)			(0.8)
Unrealized currency derivative contracts gain (loss)		56.1	3.7						56.1	3.7
Common stock dividends	(125.8)						(125.8)
Preferred stock dividends	(17.2)						(17.2)
Net income	336.4						330.4				6
Contributions from noncontrolling interests	7.8										7.8
Distributions to noncontrolling interests	(18.7)										(18.7)
Incentive allocations to noncontrolling interests	0					(3.8)					3.8
Ending balance outstanding (in shares) at Dec. 31, 2021				300,000	137,955,479
Balance at end of period at Dec. 31, 2021	1,803.9			$ 295.2	$ 0	1,679.6	192.4	(389.6)			26.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock grants (RSG) (in shares)					1,221,362
Shares retired due to RSG vesting (in shares)					(834,911)
Shares retired due to RSG vesting	(18.6)					(18.6)
Shares retired due to common stock repurchase program (in shares)					(551,162)
Shares retired due to common stock repurchase program	(12.6)					(9.8)	(2.8)
Stock based compensation					$ 29	29
Other comprehensive (loss) income:
Unrealized foreign currency translation gain (loss), net of tax	(71.7)							(68.7)			(3)
Unrealized currency derivative contracts gain (loss)		$ 23.4	$ 4.8						$ 23.4	$ 4.8
Common stock dividends	(132.3)						(132.3)
Preferred stock dividends	(28.9)						(28.9)
Net income	101.9						93.7				8.2
Contributions from noncontrolling interests	25.7										25.7
Distributions to noncontrolling interests	(10.8)										(10.8)
Ending balance outstanding (in shares) at Dec. 31, 2022				600,000	137,790,768
Balance at end of period at Dec. 31, 2022	$ 2,010.4			$ 592.5	$ 0	$ 1,679.5	$ 122.1	$ (430.1)			$ 46.4

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income		$ 101.9	$ 336.4	$ 107.8
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Gain on sale of real estate, net		(103.7)	(412.7)	(338)
Depreciation and amortization		172.9	166.3	179.6
Above/below and straight-line rent amortization		(8)	6.8	(10.2)
Uncollectible lease income		8	12.9	13.5
Provision for deferred income taxes		18.3	112.2	27.2
Amortization of loan fees		9.1	16.2	0.8
Amortization of discount and accretion of premium and transactional foreign exchange		2.6	2.4	8.5
Unrealized net gain on derivatives		(45.9)	(4.6)	(5.4)
Gain on extinguishment of debt		(27.5)	0	0
Income from unconsolidated investments		(178.4)	(389)	(81)
Accretion of interest income on loans		0	(0.5)	(0.9)
Share-based compensation expense		29	28.7	32.3
Deferred compensation		7.6	56.3	6.4
Operating distributions from unconsolidated investments		78.1	82.2	59.7
Operating distributions from loans		0	0	0.7
Change in assets and liabilities:
Accounts receivable		(13.4)	(0.5)	(9)
Other assets		(9.7)	(18.8)	0
Accrued expenses and other liabilities		(8)	(24.6)	(4.6)
Net cash provided by (used in) operating activities		32.9	(30.3)	(12.6)
Cash flows from investing activities:
Issuance of loans		(50.9)	(83.4)	(88.6)
Proceeds from collection of loans		34.5	58.1	34.1
Net proceeds from sale of consolidated real estate		325.9	486.4	827.8
Purchases of consolidated real estate		(408.2)	(1,131.8)	(70.1)
Capital expenditures to real estate		(160.9)	(139.2)	(194.1)
Investment in marketable securities		0	0	(12.1)
Proceeds from sale of marketable securities		0	0	10.2
Investing distributions from unconsolidated investments		157.1	82.8	177.5
Contributions to unconsolidated investments		(361.3)	(280.8)	(111.6)
Proceeds from settlement of derivative contracts		112.6	0	32.5
Premiums from settlement of derivative contracts		(10.4)	(30.1)	(17)
Proceeds from sale of development project asset		0	0	2.2
Net cash (used in) provided by investing activities		(361.6)	(1,038)	590.8
Cash flow from financing activities:
Borrowings under senior notes payable		0	1,804.3	0
Repayment of senior notes payable		0	(1,150)	0
Borrowings under line of credit/term loan		528.4	314.3	200
Repayment of line of credit/term loan		(325)	(438.5)	0
Borrowings under mortgage debt		401.3	1,144.9	296.4
Repayment of mortgage debt		(389.6)	(268.2)	(487.1)
Repayment of KWE Bonds		(65.8)	(504.4)	0
Payment of loan fees		(5)	(35.6)	(5.6)
At-the-market equity offering program costs		(0.7)	0	0
Repurchase of common stock		(31.2)	(83.2)	(57.4)
Preferred stock issuance		297.3	0	0
Common stock dividends paid		(134.6)	(123.5)	(126.1)
Preferred stock dividends paid		(25.9)	(17.2)	(13.6)
Borrowings on shareholder loans to noncontrolling interests		0	0	1.2
Contributions from noncontrolling interests		25.8	7.8	4.5
Distributions to noncontrolling interests		(10.8)	(18.7)	(18.9)
Net cash provided by (used in) financing activities		264.2	632	(206.6)
Effect of currency exchange rate changes on cash and cash equivalents		(21)	(4)	19.6
Net change in cash and cash equivalents		(85.5)	(440.3)	391.2
Cash and cash equivalents, beginning of year		524.8	965.1	573.9
Cash and cash equivalents, end of year		439.3	524.8	965.1
Cash paid for:
Interest	[1],[2]	214.4	183.7	209.7
Income taxes		$ 19.9	$ 16.5	$ 12.6
[1]$4.0 million, $4.1 million, and $4.3 million attributable to non-controlling interests for the years ended December 31, 2022, 2021, and 2020, respectively.[2]Excludes $3.3 million, $3.2 million, and $3.4 million of capitalized interest during the for the years ended December 31, 2022, 2021 and 2020, respectively.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($) parcel
Interest paid attributable to noncontrolling interest	$ 4	$ 4.1	$ 4.3
Interest paid, capitalized	3.3	3.2	3.4
Restricted cash	21.4	24.2	101.7
Noncash activity, unconsolidated investments	31.9	178.8
Non-cash contribution to acquire interest in joint venture			$ 7.8
Number of parcels of land | parcel			3
Land received in sale of equity method investment			$ 16.5
Operating lease, right-of-use asset	12.2	$ 10
Total lease liabilities	$ 12.2
MF Portfolio Joint Venture
Equity method investment, ownership percentage (as a percent)	51%	51%

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATIONKennedy-Wilson Holdings, Inc. (“KWH,” NYSE: KW), a Delaware corporation and its wholly owned and consolidated subsidiaries (collectively the "Company" or "Kennedy Wilson"), is a global real estate investment company. The Company owns, operates, and invests in real estate both on its own and through its investment management platform. The Company primarily focuses on multifamily and office properties, as well as industrial and debt investments in its Investment Management business in the Western United States, United Kingdom and Ireland. The Company's operations are defined by two business segments; its Consolidated Portfolio and Co-Investment Portfolio. Investment activities in the Consolidated Portfolio involve ownership of multifamily units, office, retail and industrial space and one hotel. The Co-Investment Portfolio segment consists of investments the Company makes with partners in which it receives (i) fees (including, without limitation, asset management fees and construction management fees), (ii) performance allocations that it earns on its fee bearing capital, and (iii) distributions and profits from its ownership interest in the underlying operations of its co-investments.

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION — The consolidated financial statements include the accounts of Kennedy Wilson and voting interest entities which it controls. All intercompany balances and transactions have been eliminated in consolidation. In addition, Kennedy Wilson evaluates its relationships with other entities to identify whether they are variable interest entities ("VIE") as defined by Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Subtopic 810 , Consolidation, and to assess whether it is the primary beneficiary of such entities. In determining whether Kennedy Wilson is the primary beneficiary of a VIE, qualitative and quantitative factors are considered, including, but not limited to: the amount and characteristics of Kennedy Wilson's investment; the obligation or likelihood for Kennedy Wilson to provide financial support; Kennedy Wilson's ability to control or significantly influence key decisions for the VIE; and the similarity with and significance to the business activities of Kennedy Wilson. The Company determines the appropriate accounting method with respect to all investments that are not VIEs based on the control-based framework (controlled entities are consolidated) provided by the consolidation guidance in ASC Subtopic 810. The Company accounts for joint ventures where it is deemed that the Company does not have control through the equity method of accounting while joint ventures that the Company controls are consolidated in Kennedy Wilson's financial statements. USE OF ESTIMATES — The preparation of the accompanying consolidated financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosure about contingent assets and liabilities, and reported amounts of revenues and expenses. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. Management adjusts such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in those estimates will be reflected in the financial statements in future periods. REVENUE RECOGNITION — Revenue consists of rental and hotel income, management fees, leasing and commission fees, loan interest income and sales of real estate. ASC Topic 606, Revenue from Contracts with Customers , is a five step model to recognize revenue from customer contracts. The model identifies the contract, any separate performance obligations in the contract, determines the transaction price, allocates the transaction price and recognizes revenue when the performance obligations are satisfied. Management has concluded that, with the exception of performance allocations, the nature of the Company's revenue streams is such that the requirements are generally satisfied at the time that the fee becomes receivable. Rental income from operating leases is generally recognized on a straight-line basis over the terms of the leases in accordance with ASC Topic 842, Leases . Hotel income is earned when rooms are occupied or goods and services have been delivered or rendered. Management fees are primarily comprised of investment management and property services fees. Investment management fees are earned from limited partners of funds, co-investments, or separate accounts and are generally based on a fixed percentage of committed capital or net asset value. Property services fees are earned for managing the operations of real estate assets and are generally based on a fixed percentage of the revenues generated from the respective real estate assets. The Company sold its property services group ("Property Services") in the fourth quarter 2020 with the sale of KWP (as further discussed in Note 10 - Related Party Transactions) and will have minimal property services fees going forward from its auction sales and marketing business. The Company provides investment management and property services on investments it also has an ownership interest in. Fees earned on consolidated properties are eliminated in consolidation and fees on unconsolidated investments are eliminated for the portion that relate to the Company's ownership interest. Commissions primarily consist of acquisition and disposition fees, auction and consulting fees and, prior to the sale of Property Services, also consisted of real estate sales commissions, and leasing commissions. Acquisition and disposition fees are earned for identifying and closing investments on behalf of investors and are based on a fixed percentage of the acquisition or disposition price, as applicable. Acquisition and disposition fees are recognized upon the successful completion of an acquisition or disposition after all required services have been performed. In the case of auction and real estate sales commissions, the revenue is generally recognized when escrow closes. In accordance with the guidelines established for Reporting Revenue Gross as a Principal versus Net as an Agent in the ASC Topic 606, Kennedy Wilson records commission revenues and expenses on a gross basis. Of the criteria listed in ASC Topic 606, Kennedy Wilson is the primary obligor in the transaction, does not have inventory risk, performs all or part of the service, has credit risk, and has wide latitude in establishing the price of services rendered and discretion in selection of agents and determination of service specifications. Leasing fees that are payable upon tenant occupancy, payment of rent or other events beyond Kennedy Wilson's control are recognized upon the occurrence of such events. Interest income from investments in performing loans which Kennedy Wilson originates or acquires are recognized at the stated interest rate plus any amortization of premiums/discounts or fees earned on the loans. Interest income from investments in loans acquired at a discount are recognized using the effective interest method. When a loan or loans are acquired with deteriorated credit quality primarily for the rewards of collateral ownership, such loans are accounted for as loans until Kennedy Wilson is in possession of the collateral. However, accrual of income is not recorded during the conversion period under ASC Subtopic 310-30-25, Receivables - Loans and Debt Securities Acquired with Deteriorated Credit Quality . Income is recognized to the extent that cash is received from the loan. Sales of real estate are recognized when title to the real property passes to the buyer and there is no continuing involvement in the real property. Under ASC Subtopic 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets , the Company recognizes the entire gain attributed to contributions of real estate properties to unconsolidated entities. REAL ESTATE ACQUISITIONS — The purchase price of acquired properties is recorded to land, buildings and building improvements and intangible lease value (value of above-market and below-market leases, acquired in-place lease values, and tenant relationships, if any). The ownership of the other interest holders in consolidated subsidiaries is reflected as noncontrolling interests ("NCI"). Real estate is recorded based on cumulative costs incurred and allocated based on relative fair value. Acquisition fees and expenses associated with the acquisition of properties determined to be business combinations are expensed as incurred. Acquisition fees and expenses associated with transactions determined to be asset acquisitions are capitalized as part of the real estate acquired. The valuations of real estate are based on management estimates of the real estate assets using income and market approaches. The indebtedness securing the real estate is valued, in part, based on third party valuations and management estimates also using an income approach. The Company is involved in all stages of real estate ownership, including development. Once a project is in development, consistent with ASC 360 Property Plant, and Equipment costs including interest and real estate taxes and associated costs directly related to the project under development, are capitalized. During the predevelopment period of a probable project and the period in which a project is under construction, the Company capitalizes all direct and indirect costs associated with planning, developing, and constructing the project. Once a project is constructed and deemed substantially complete and ready for occupancy, carrying costs, such as real estate taxes, interest and associated costs, are expensed as incurred. UNCONSOLIDATED INVESTMENTS — Kennedy Wilson has a number of joint venture interests that were formed to acquire, manage, and/or sell real estate. Investments in unconsolidated investments are accounted for under the equity method of accounting as Kennedy Wilson can exercise significant influence, but does not have the ability to control the unconsolidated investment. An investment in an unconsolidated investment is recorded at its initial investment and is increased or decreased by Kennedy Wilson’s share of income or loss, plus additional contributions and less distributions. A decline in the value of an unconsolidated investment that is other than temporary is recognized when evidence indicates that such a decline has occurred in accordance with ASC Topic 323, Investments - Equity Method and Joint Ventures . Kennedy Wilson elected the fair value option for 67 investments in unconsolidated investment entities ("FV Option" investments). Due to the nature of these investments, Kennedy Wilson elected to record these investments at fair value in order to report the change in value in the underlying investments in the results of its current operations. Additionally, Kennedy Wilson records its investments in certain commingled funds it manages and sponsors (the "Funds") that are investment companies under the ASC Topic 946, Financial Services - Investment Companies , based upon the net assets that would be allocated to its interests in the Funds assuming the Funds were to liquidate their investments at fair value as of the reporting date. Thus, the Funds reflect their investments at fair value, with unrealized gains and losses resulting from changes in fair value reflected in their earnings. Performance allocations or carried interest are allocated to the general partner, special limited partner or asset manager of Kennedy Wilson's real estate funds based on the cumulative performance of the fund and are subject to preferred return thresholds of the limited partners. At the end of each reporting period, Kennedy Wilson calculates the performance allocation that would be due as if the fair value of the underlying investments were realized as of such date, irrespective of whether such amounts have been realized. As the fair value of underlying investments varies between reporting periods, it is necessary to make adjustments to amounts recorded as performance allocation to reflect either (a) positive performance resulting in an increase in the performance allocation to the general partner or asset manager or (b) negative performance that would cause the amount due to Kennedy Wilson to be less than the amount previously recognized as income from unconsolidated investments, resulting in a negative adjustment to performance allocations to the general partner or asset manager. As of December 31, 2022, the Company has $141.6 million of accrued performance allocations recorded to unconsolidated investments that are subject to future adjustments based on the underlying performance of investments. During the year ended December 31, 2022 and 2021 the Company collected $6.8 million and $9.6 million of performance allocations. There were no collections of performance allocations during the year ended December 31, 2020. The Company has concluded that performance allocations to the Company, based on cumulative performance to-date, represent carried interests. For equity method investments, these allocations are included as a component of the income reported from the underlying equity method investee and for equity method investments where the fair value option has been elected, these allocations are included in the determination of fair value under ASC Topic 820, Fair Value Measurement . Performance allocation compensation is recognized in the same period that the related performance allocations are recognized and can be reversed during periods when there is a reversal of performance allocations that were previously recognized. As of December 31, 2022 , the Company has $37.1 million of accrued performance allocation compensation recorded to accrued expenses and other liabilities that are subject to future adjustments based on the underlying performance of investments. During the year ended December 31, 2022, the Company paid $1.2 million of performance allocation compensation to employees for performance allocations that were realized during the period. FAIR VALUE MEASUREMENTS — Kennedy Wilson accounts for fair value measurements of financial assets and financial liabilities and for fair value measurements of non-financial items that are recognized or disclosed at fair value in the financial statements on a recurring basis under the provisions of ASC Topic 820 . ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When estimating fair value in the absence of an orderly transaction between market participants, valuations of real estate are based on management estimates of the real estate assets using income and market approaches. The indebtedness securing the real estate and the investments in debt securities are valued, in part, based on third party valuations and management estimates also using an income approach. The use of different market assumptions or estimation methodologies may have a material impact on the estimated fair value amounts. FAIR VALUE OF FINANCIAL INSTRUMENTS — The estimated fair value of financial instruments is determined using available market information and appropriate valuation methodologies. Considerable judgment, is necessary, however, to interpret market data and develop the related estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that could be realized upon disposition of the financial instruments. The use of different market assumptions or estimation methodologies may have a material impact on the estimated fair value amounts. DISTRIBUTIONS FROM UNCONSOLIDATED INVESTMENTS — The Company utilizes the nature of distributions approach and distributions are reported under operating cash flow unless the facts and circumstances of a specific distribution clearly indicate that it is a return of capital (e.g., a liquidating dividend or distribution of the proceeds from unconsolidated investments' sale of assets), in which case it is reported as an investing activity. This enables Kennedy Wilson to look to the nature and source of the distribution received and classify it appropriately between operating and investing activities on the statement of cash flows based upon the source. FOREIGN CURRENCIES — The financial statements of Kennedy Wilson's subsidiaries located outside the United States are measured using the local currency as this is their functional currency. The assets and liabilities of these subsidiaries are translated at the rates of exchange at the balance sheet date, and income and expenses are translated at the average monthly rate. The foreign currencies include the euro and the British pound sterling. Cumulative translation adjustments, to the extent not included in cumulative net income, are included in the consolidated statement of equity as a component of accumulated other comprehensive income. Investment level debt is generally incurred in local currencies. Fluctuations in foreign exchanges rates may have a significant impact on the results of the Company's operations. In order to manage the effect of these fluctuations, the Company enters into hedging transactions, in the form of currency derivative contracts, that are designed to reduce its book equity exposure to foreign currencies. KWE has also entered into currency derivative contracts to manage its exposure to euro to British pound currency fluctuations. See Note 5 for a complete discussion on currency derivative contracts. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES — Kennedy Wilson has derivatives to reduce its exposure to foreign currencies. All derivative instruments are recognized as either assets or liabilities in the balance sheet at their respective fair values. For derivatives designated in hedging relationships, changes in fair value of cash flow hedges or net investment hedges are recognized in accumulated other comprehensive income, to the extent the derivative is effective at offsetting the changes in the item being hedged until the hedged item affects earnings. Fluctuations in foreign exchanges rates may have a significant impact on the Company's results of operations. In order to manage the potential exposure from adverse changes in foreign exchange rates arising from the Company’s net investments in foreign operations, the Company may enter into currency derivative contracts to hedge all or portions of the net investments in the Company’s non-U.S. dollar denominated foreign operations. GOODWILL — Goodwill results from the difference between the purchase price and the fair value of net assets acquired based upon the purchase method of accounting for business combinations. In accordance with ASC Subtopic 350-20, Accounting for Intangibles - Goodwill and Other , goodwill is reviewed for impairment on an annual basis. The Company performs its annual review of impairment at year end and when a triggering event occurs between annual year end reviews. As a result of the evaluation performed as described above, Kennedy Wilson has determined that there was no impairment of goodwill as of December 31, 2022, 2021 and 2020. CASH AND CASH EQUIVALENTS — Cash and cash equivalents consist of cash and all highly liquid investments purchased with maturities of three months or less. Cash and cash equivalents are invested in institutions insured by government agencies. Certain accounts contain balances in excess of the insured limits. Kennedy Wilson's operations and financial position are affected by fluctuations in currency exchange rates between the euro and British pound sterling against the U.S. Dollar. As of December 31, 2022, 2021, and 2020 we have $21.4 million, $24.2 million, and $101.7 million, respectively, of restricted cash, which is included in cash and cash equivalents, that primarily relates to lender reserves associated with consolidated mortgages that we hold on properties as well as escrow deposits associated with acquisitions and dispositions. These reserves typically relate to interest, tax, insurance and future capital expenditures at the properties. LONG-LIVED ASSETS — Kennedy Wilson reviews its long-lived assets (excluding goodwill) whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with ASC Subtopic 360-10, Property, Plant and Equipment . Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated undiscounted future cash flows, an impairment charge is recognized in gain on sale of real estate, net in the amount by which the carrying amount of the asset exceeds the fair value of the asset. Assets to be disposed of are presented separately in the balance sheet and reported at the lower of the carrying amount or fair value less costs to sell, and are no longer depreciated. The assets and liabilities of the assets to be disposed of are classified as held for sale and would be presented separately in the appropriate asset and liability sections of the consolidated balance sheets. ACCOUNTS RECEIVABLE — Accounts receivable are recorded at the contractual amount as determined by the underlying agreements and do not bear interest. The Company recognizes revenue to the extent that amounts are probable that substantially all rental income will be collected. CONCENTRATION OF CREDIT RISK — Financial instruments that subject Kennedy Wilson to credit risk consist primarily of accounts and notes receivable, cash equivalents and derivative instruments. Credit risk is generally diversified due to the large number of entities composing Kennedy Wilson’s customer base and their geographic dispersion throughout the United States, the United Kingdom, Ireland, Spain and Italy. Kennedy Wilson performs ongoing credit evaluations of its customers and debtors. EARNINGS PER SHARE — Basic earnings per share is computed based upon the weighted average number of shares of common stock outstanding during the periods presented. Diluted earnings per share is computed based upon the weighted average number of shares of common stock and potentially dilutive securities outstanding during the periods presented. The dilutive impact of potentially dilutive securities including convertible securities, and unvested stock which were outstanding during the period. Unvested stock are calculated by the “treasury stock” method and the convertible securities under the "if converted" method. COMPREHENSIVE INCOME (LOSS) — Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss). In the accompanying consolidated balance sheets, accumulated other comprehensive income consists of foreign currency translation adjustments and unrealized gains (losses) on derivative instruments. REPURCHASE OF EQUITY INSTRUMENTS — Upon the decision to retire repurchased equity instruments, Kennedy Wilson records the retirement as a reduction to additional paid in capital for the amount that shares were initially issued at with the excess paid recorded to retained earnings. SHARE-BASED PAYMENT ARRANGEMENTS — Kennedy Wilson accounts for its share-based payment arrangements under the provisions of ASC Subtopic 718-10, Compensation - Stock Compensation. Compensation cost for employee service received in exchange for an award of equity instruments is based on the grant-date fair value of the share-based award that is ultimately settled in equity of Kennedy Wilson. The cost of employee services is recognized over the period during which an employee provides service in exchange for the share-based payment award. Share-based payment arrangements with only services conditions that vest ratably over the requisite service period are recognized on the straight-line basis and performance awards that vest ratably are recognized on a tranche by tranche basis over the performance period. INCOME TAXES — Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In accordance with accounting for uncertainty in ASC Subtopic 740-10, Income Taxes, Kennedy Wilson recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Kennedy Wilson records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expenses on the consolidated statements of income. NONCONTROLLING INTERESTS — Noncontrolling interests are reported within equity as a separate component of Kennedy Wilson's equity in accordance with ASC Subtopic 810-10. Revenues, expenses, gains, losses, net income or loss, and other comprehensive income are reported in the consolidated statements of income at the consolidated amounts and net income and comprehensive income attributable to noncontrolling interests are separately stated. RECENT ACCOUNTING PRONOUNCEMENTS In August 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. The Company adopted ASU 2020-06 and the effect of the adoption of the ASU did not impact the Company’s financial statements. In June 2016, the FASB updated ASC Topic 326, Financial Instruments - Credit Losses with ASU 2016-13, Measurement of Credit Losses on Financial Instruments . ASU 2016-13 enhances the methodology of measuring expected credit losses to include the use of forward-looking information to better inform credit loss estimates. This ASU is effective for all entities for annual and interim periods in fiscal years beginning after December 15, 2019. In addition, in November 2018 the FASB issued ASU 2018-19, which clarifies that receivables arising from operating leases are not within the scope of the credit losses standard, but rather, should be accounted for in accordance with ASC Topic 842. The Company adopted this standard on January 1, 2020 and the adoption of this standard did not have a material impact on Kennedy Wilson's consolidated financial statements. During the course of 2020 the Company has launched a debt platform originating and acquiring performing loans. As of December 31, 2022, the Company has $149.4 million of investments in loan originations and acquisitions. The Company's current loans are performing and backed by credit worthy borrowers and although the Company does not expect significant credit losses, it will monitor and evaluate loans in accordance with ASU 2016-13. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) , which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The ASU was effective upon issuance on a prospective basis beginning January 1, 2020 and may be elected over time as reference rate reform activities occur. The Company adopted this standard on January 1, 2020 and the adoption of this standard did not have a material impact on the Company's consolidated financial statements. The Company is in the process of converting applicable transaction documents from LIBOR to other reference rates and does not expect any issues with the conversion. The FASB did not issue any other ASUs during the year ended December 31, 2022 that the Company expects to be applicable and have a material impact on the Company's financial statements.

REAL ESTATE AND ACQUIRED IN PLA

REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE	12 Months Ended
	Dec. 31, 2022
Real Estate [Abstract]
REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE	REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE The following table summarizes the Company's investment in consolidated real estate properties at December 31, 2022 and 2021: December 31, (Dollars in millions) 2022 2021 Land $ 1,319.2 $ 1,277.6 Buildings 3,961.9 3,744.1 Building improvements 494.2 545.6 Acquired in-place lease values 295.0 330.6 6,070.3 5,897.9 Less accumulated depreciation and amortization (882.2) (838.1) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 5,188.1 $ 5,059.8 Real property, including land, buildings, and building improvements, are included in real estate and are generally stated at cost. Buildings and building improvements are depreciated on the straight-line method over their estimated lives not to exceed 40 years. Acquired in-place lease values are recorded at their estimated fair value and amortized over their respective weighted-average lease term which was 6.7 years at December 31, 2022. Depreciation and amortization expense on buildings, building improvements and acquired in-place lease values for the years ended December 31, 2022, 2021 and 2020 was $162.7 million, $151.3 million and $165.7 million, respectively. Consolidated Acquisitions The purchase of property is recorded to land, buildings, building improvements, and intangible lease value (including the value of above-market and below-market leases, acquired in-place lease values, and tenant relationships, if any) based on their respective estimated relative fair values. The purchase price generally approximates the fair value of the properties as acquisitions are transacted with third-party willing sellers after arms-length negotiations. During the year ended December 31, 2022, Kennedy Wilson acquired the following consolidated properties which were treated as asset acquisitions: (Dollars in millions) Purchase Price Allocation at Acquisition (1) Location Description Land Building Acquired in-place lease values (2) Investment debt KWH Shareholders' Equity Western U.S. Four multifamily properties $ 99.2 $ 396.6 $ 1.4 $ 203.4 $ 293.8 United Kingdom Office building 25.5 74.1 6.9 — 106.5 $ 124.7 $ 470.7 $ 8.3 $ 203.4 $ 400.3 (1) Excludes net other assets. (2) Above- and below-market leases are included in other assets and accrued expenses and other liabilities, respectively, on the accompanying consolidated balance sheets. During the year ended December 31, 2021, Kennedy Wilson acquired the following consolidated properties which were treated as asset acquisitions: (Dollars in millions) Purchase Price Allocation at Acquisition (1) Location Description Land Building Acquired in-place lease values (2) Investment debt KWH Shareholders' Equity Western U.S. Ten multifamily properties $ 166.1 $ 610.9 $ 2.3 $ 469.1 $ 310.2 United Kingdom Two commercial properties 95.9 231.3 22.3 — 349.5 $ 262.0 $ 842.2 $ 24.6 $ 469.1 $ 659.7 (1) Excludes net other assets. (2) Above- and below-market leases are included in other assets and accrued expenses and other liabilities, respectively, on the accompanying consolidated balance sheets. Gains on Sale of Real Estate, Net During the years ended December 31, 2022, 2021 and 2020, Kennedy Wilson recognized the following net gains on sale of real estate. Included in the net gains for the year ended December 31, 2022 is an impairment loss of $13.3 million on European non-core retail and office assets. Included in the net gains for year ended December 31, 2021 is an impairment loss of $20.9 million on two retail properties in the United Kingdom and an additional impairment on a residential property in the Western United States. Included in the net gains for year ended December 31, 2020 is a $15.6 million impairment loss on five retail properties in the United Kingdom and a residential property in the Western United States. (Dollars in millions) Gain on sale of real estate Year ended December 31, Description Consolidated NCI Net of NCI 2022 Primarily due to the sale of a 49% equity interest in a multifamily property in Western United States that was previously wholly-owned and controlled by the Company and the sale of a wholly-owned office property in the United Kingdom $ 103.7 $ (1.0) $ 102.7 2021 Primarily due to the sale of a 49% equity interest in nine multifamily properties in Western United States that were previously wholly-owned and controlled by the Company and the sale of 19 office properties in the United Kingdom, one multifamily property in Western United States, three retail properties in Western United States and an office property in Western United States 412.7 (5.4) 407.3 2020 20 industrial properties (including the deconsolidation of previously consolidated real estate as discussed below), 19 retail properties, three office properties, and one multifamily property in United Kingdom, two multifamily properties and two office properties in Ireland, one retail property in Spain, and one multifamily property in the Western United States. 338.0 (0.6) 337.4 Deconsolidation of Previously Consolidated Real Estate Under ASC Subtopic 610-20, the Company consummated the following transactions that resulted in the deconsolidation of the Company's interests in investments previously consolidated in the Company's financial statements: During the year ended December 31, 2022, due to the sale and deconsolidation of Montiavo, the Company recognized a $56.7 million gain on sale of real estate, net and generated $30.2 million of cash proceeds for the Company. The gain is due to the sale of the 49% interest to the Company's partner and the recording of the Company's retained 51% interest in unconsolidated investments at the fair value established by the transaction. During the year ended December 31, 2021, due to the sale and deconsolidation of the assets that make up the MF seed portfolio, the Company recognized a $332.0 million gain on sale of real estate, net and generated $166.4 million of cash proceeds for the Company. The gain is due to the sale of the 49% interest to the Company's partner and the recording of the Company's retained 51% interest in unconsolidated investments at the fair value established by the transaction. The MF seed portfolio and subsequent investments within the separate account are accounted for at fair value as the Company elected to account for this investment under the fair value adoption. During the year ended December 31, 2020, due to the sale and deconsolidation of the assets that made up the urban logistics properties in the UK ("European Industrial JV") the Company recognized a $126.3 million gain from the sale of real estate, net. The gain is due to the sale of the 80% interest to the Company's partner and the recording of the Company's retained 20% interest in unconsolidated investments at the fair value established by the transaction. The European Industrial JV commenced with investing in an ownership stake in 18 industrial assets located throughout the United Kingdom and subsequent investments within the separate account are accounted for at fair value as the Company elected to account for this investment under the fair value adoption. The Company leases its operating properties to customers under agreements that are classified as operating leases. The total minimum lease payments provided for under the leases are recognized on a straight-line basis over the lease term. The majority of the Company's rental expenses, including common area maintenance, real estate taxes and insurance, are recovered from the Company's tenants. The Company records amounts reimbursed by customers in the period that the applicable expenses are incurred, which is generally ratably throughout the term of the lease. The reimbursements are recognized in rental income in the consolidated statements of operations as the Company is the primary obligor with respect to purchasing and selecting goods and services from third-party vendors and bearing the associated credit risk. The following table summarizes the minimum lease payments due from the Company's tenants on leases with lease periods greater than one year at December 31, 2022: (Dollars in millions) Minimum Rental Revenues (1) 2023 $ 144.2 2024 127.9 2025 112.8 2026 95.6 2027 76.6 Thereafter 232.6 Total $ 789.7 (1) These amounts do not reflect future rental revenues from the renewal or replacement of existing leases, rental increases that are not fixed and exclude reimbursements of rental expenses.

UNCONSOLIDATED INVESTMENTS

UNCONSOLIDATED INVESTMENTS	12 Months Ended
	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
UNCONSOLIDATED INVESTMENTS	UNCONSOLIDATED INVESTMENTS Kennedy Wilson has a number of joint venture interests including commingled funds and separate accounts, generally ranging from 5% to 50%, that were formed to acquire, manage, develop, service and/or sell real estate. Kennedy Wilson has significant influence over these entities, but not control. Accordingly, these investments are accounted for under the equity method. Joint Venture and Fund Holdings The following table details Kennedy Wilson's investments in joint ventures by investment type and geographic location as of December 31, 2022: (Dollars in millions) Multifamily Commercial Hotel Funds Residential and Other Total Western U.S. $ 857.6 $ 89.2 $ 195.9 $ 158.3 $ 169.1 $ 1,470.1 Ireland 378.1 176.7 — 8.0 — 562.8 United Kingdom — 138.7 — 36.3 30.2 205.2 Total $ 1,235.7 $ 404.6 $ 195.9 $ 202.6 $ 199.3 $ 2,238.1 The following table details the Kennedy Wilson's investments in joint ventures by investment type and geographic location as of December 31, 2021: (Dollars in millions) Multifamily Commercial Hotel Funds Residential and Other Total Western U.S. $ 592.1 $ 81.0 $ 131.0 $ 189.2 $ 179.6 $ 1,172.9 Ireland 389.5 141.1 — 3.1 — 533.7 United Kingdom — 169.3 — 42.9 28.8 241.0 Total $ 981.6 $ 391.4 $ 131.0 $ 235.2 $ 208.4 $ 1,947.6 During the year ended December 31, 2022, the change in unconsolidated investments primarily relates to $361.3 million of cash contributions to unconsolidated investments, $235.2 million of distributions from unconsolidated investments, $31.9 million associated with the deconsolidation of Montiavo as discussed in Note 3, $178.4 million of income from unconsolidated investments (including $114.6 million of fair value gains), and a $41.8 million decrease related to other items, which primarily related to foreign exchange movements. As of December 31, 2022 and December 31, 2021, $2,093.7 million and $1,794.8 million, respectively, of unconsolidated investments were accounted for at fair value. See Note 5 for more detail. Contributions to Joint Ventures During the year ended December 31, 2022, Kennedy Wilson contributed $361.3 million to joint ventures, primarily to fund new acquisitions in the Company's European Industrial JV and multifamily properties in Western United States with separate account partners and capital calls with respect to the Kona Village hotel development. Distributions from Joint Ventures The following table details cash distributions by investment type and geographic location for the year ended December 31, 2022: Multifamily Commercial Funds Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 38.8 $ 66.6 $ 11.2 $ 0.2 $ 10.2 $ 10.7 $ 0.2 $ 23.5 $ 60.4 $ 101.0 Ireland 8.0 38.6 7.3 — — 4.9 — — 15.3 43.5 United Kingdom — — 1.7 1.3 — — 0.7 11.3 2.4 12.6 Total $ 46.8 $ 105.2 $ 20.2 $ 1.5 $ 10.2 $ 15.6 $ 0.9 $ 34.8 $ 78.1 $ 157.1 Investing distributions resulted primarily from the sales of three multifamily properties and one office property in Fund VI, refinancing and buyouts from limited partners in the VHH portfolio, and distributions from mortgage refinancing on multifamily properties in the Western United States and Ireland. Operating distributions resulted from operating cash flow generated by the joint venture investments that have been distributed to the Company. Income from Unconsolidated Investments The following table presents income from unconsolidated investments recognized by Kennedy Wilson during the years ended December 31, 2022, 2021 and 2020: Year Ended December 31, (Dollars in millions) 2022 2021 2020 Income from unconsolidated investments - operating performance $ 80.2 $ 60.7 $ 43.4 Income from unconsolidated investments - realized gains from cost basis investments 4.7 — — Income from unconsolidated investments - unrealized and realized fair value gains 114.6 213.5 47.2 Income from unconsolidated investments - realized losses and impairment — (3.1) (12.3) Principal co-investments 199.5 271.1 78.3 (Loss) income from unconsolidated investments - performance allocation (21.1) 117.9 2.7 $ 178.4 $ 389.0 $ 81.0 Operating performance is related to underlying performance from unconsolidated investments. Realized gains during the year ended December 31, 2022, relates to the sale of a legacy multifamily property accounted for at historical cost in the Western United States at a sales price greater than its carrying value. The decrease in income from unconsolidated investments is due to lower fair value gains and decreases in performance allocations on Western United States multifamily assets and commingled fund assets. The Company had a net fair value gain for the year ended December 31, 2022 as fair value losses on real estate and foreign exchange movements were more than offset by fair value gains on mortgages and interest rate derivatives as detailed below. Valuations of global market rate multifamily assets in the Company's Western United States and Dublin markets and industrial assets in the United Kingdom were at historic levels at the end of 2021 and into the first quarter of 2022 and the Company has started to see this pull back slightly with cap rate expansion, which led to fair value losses on real estate during the year ended December 31, 2022. The Company also had fair value foreign exchange losses, net of any hedges on our foreign fair value investments as the GBP and Euro were at historically low levels in relation to the U.S. Dollar during the same period. Fair value losses on real estate were also offset by fair value gains on fixed rate mortgages that are secured by certain properties, primarily related to having long term fixed rate debt that is at substantially lower interest rates than the current market interest rates as a result of higher base rates and spreads in today's financing market driven by recent rate increases implemented by the Federal Reserve and the European Central Bank ("ECB"). There were also fair value gains associated with interest rate derivatives held by properties on variable rate mortgages which have increased in value with rising interest rates. VHH has had significant fair value gains in the current year due to gains on its fixed rate property loans and increases in NOI at the properties driven by rental increases and the stabilization of properties that have recently completed development. However, VHH does not have a performance allocation structure associated with the investment, which drove performance allocations being lower in relation to fair value gains. During the year ended December 31, 2022, the Company recorded a $21.1 million decrease in the accrual for performance allocations relating to its commingled funds and separate account investments as the fair value of assets within these funds decreased. During the year ended December 31, 2022, the Company collected $6.8 million of performance allocations. The Company evaluates on a quarterly basis the carrying value of its historical cost based investments and to the extent the carrying value is in excess of its fair value, an impairment loss is recorded. Realized losses and impairment are related to asset sales on non-core retail assets in the United Kingdom during the year ended December 31, 2021 and 2020. Vintage Housing Holdings ("VHH") As of December 31, 2022 and 2021, the carrying value of the Company's investment in VHH was $272.3 million and $157.9 million, respectively. The total equity income recognized from the Company's investment in VHH was $119.8 million, $41.4 million and $22.8 million for the years ended December 31, 2022, 2021 and 2020, respectively. Distributions in the current period primarily relate to the refund of advances on two development projects in which VHH provides cash for the construction costs in advance, and other partners subsequently pay their share of the costs back to VHH, a resyndication and investing distributions from refinancing proceeds. Fair value gains in the current period primarily relate to having long term fixed rate debt that is at substantially lower interest rates than the current market interest rates. There were also fair value gains associated with increases in rents as area median income ("AMI") in the relevant market increased by an average rate of 10% and additional NOI from the stabilization of properties that have recently completed development. Prior period fair value gains primarily relate to resyndications in which VHH dissolves an existing partnership and recapitalizes into a new partnership with tax exempt bonds and tax credits that are sold to a new tax credit partner and, in many cases, yields cash back to VHH. Upon resyndication, VHH retains a GP interest in the partnership and receives various future streams of cash flows including: development fees, asset management fees, other GP management fees and distributions from operations. Capital Commitments As of December 31, 2022, Kennedy Wilson had unfulfilled capital commitments totaling $246.6 million to nine of its unconsolidated joint ventures, including $76.8 million relating to four closed-end funds managed by Kennedy Wilson, under the respective operating agreements. In addition to the unfunded capital commitments, the Company has $87.4 million of equity commitments on various development projects. The Company may be called upon to contribute additional capital to joint ventures in satisfaction of such capital commitment obligations. Summarized Financial Data VHH The income from VHH was a significant component of the Company's operations for the year ended December 31, 2022 when it had $119.8 million of income from unconsolidated investments, which consisted of $108.4 million of fair value gains and $11.4 million relating to the Company's ownership in the underlying operations and as such VHH is considered a significant subsidiary for the year ended December 31, 2022. Financial information is provided for December 31, 2021 for comparative purposes. MF Seed Portfolio The income from the MF seed portfolio was a significant component of the Company's operations for the year ended December 31, 2021 when it had $92.1 million of income from unconsolidated investments, which consisted of $73.3 million of fair value gains, $15.7 million of performance allocations and $3.2 million relating to the Company's ownership in the underlying operations and as such the MF seed portfolio is considered a significant subsidiary for the year ended December 31, 2021. Financial information is provided for December 31, 2022 for comparative purposes. The MF seed portfolio had $43.8 million of income from unconsolidated investments, which consisted of $28.6 million of fair value gains, $5.2 million of performance allocations and $9.9 million relating to the Company's ownership in the underlying operations of the properties in the portfolio for the year ended December 31, 2022. Summarized financial information is provided below: VHH MF Seed Portfolio December 31, December 31, (Dollars in millions) 2022 2021 2022 2021 Cash and cash equivalents $ 37.0 $ 31.9 $ 12.4 $ 10.9 Accounts receivable 4.4 4.9 2.0 2.4 Real estate 1,802.7 1,553.3 970.5 943.5 Other 2.0 — 1.1 1.5 Total assets $ 1,846.1 $ 1,590.1 $ 986.0 $ 958.3 Liabilities Accounts payable and accrued expenses $ 17.6 $ 19.9 $ 5.4 $ 5.2 Mortgage debt 1,180.6 1,188.6 448.7 457.0 Total liabilities 1198.2 1,208.5 454.1 462.2 Equity Kennedy Wilson - investment in unconsolidated investment 271.8 157.9 291.9 268.6 Partners 376.1 223.7 240.0 227.5 Total equity 647.9 381.6 531.9 496.1 Total liabilities and equity $ 1,846.1 $ 1,590.1 $ 986.0 $ 958.3 VHH MF Seed Portfolio (Dollars in millions) Year Ended December 31, Year Ended December 31, 2022 2021 2020 2022 2021 Rental income $ 131.0 $ 114.7 $ 102.1 $ 64.8 $ 31.6 Unrealized fair value gains 270.7 77.4 31.3 56.1 140.6 Rental expenses (41.0) (34.8) (31.4) (21.1) (8.5) Interest expense (45.6) (37.5) (31.8) (17.6) (8.2) Other expense — (0.1) (0.9) (4.1) (11.8) Net income 315.1 119.7 69.3 78.1 143.7 Income attributable to partner (195.3) (78.3) (46.5) (33.0) (54.8) Income from unconsolidated investment $ 119.8 $ 41.4 $ 22.8 $ 45.1 $ 88.9

FAIR VALUE MEASUREMENTS AND THE

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION	FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of December 31, 2022: (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 2,093.7 $ 2,093.7 Net currency derivative contracts — 7.0 — 7.0 Total $ — $ 7.0 $ 2,093.7 $ 2,100.7 The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of December 31, 2021: (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 1,794.8 $ 1,794.8 Net currency derivative contracts — 8.5 — 8.5 Total $ — $ 8.5 $ 1,794.8 $ 1,803.3 Unconsolidated Investments Kennedy Wilson elected to use the FV Option for 67 unconsolidated investments to more accurately reflect the timing of the value created in the underlying investments and report those changes in current operations. Kennedy Wilson's investment balance in the FV Option investments was $1,891.1 million and $1,568.5 million at December 31, 2022 and 2021, respectively, which are included in unconsolidated investments in the accompanying balance sheets. Additionally, Kennedy Wilson records its investments in its managed commingled funds (the "Funds") based upon the net assets that would be allocated to its interests in the Funds, assuming the Funds were to liquidate their investments at fair value as of the reporting date. The Company’s investment balance in the Funds was $202.6 million and $226.3 million at December 31, 2022 and 2021, respectively, which is included in unconsolidated investments in the accompanying consolidated balance sheets. In estimating fair value of real estate held by the Funds and the 67 FV Option investments, the Company considers significant unobservable inputs to be the capitalization and discount rates. The following table summarizes the Company's investments in unconsolidated investments held at fair value by type: (Dollars in millions) December 31, 2022 December 31, 2021 FV Option $ 1,891.1 $ 1,568.5 Funds 202.6 226.3 Total $ 2,093.7 $ 1,794.8 The following table presents changes in Level 3 investments, investments in investment companies and investments in joint ventures that elected the fair value option, for the years ended December 31: (Dollars in millions) 2022 2021 2020 Beginning balance $ 1,794.8 $ 1,136.5 $ 1,099.3 Unrealized and realized gains, including performance allocations 274.4 390.0 109.8 Unrealized and realized losses (114.1) (5.0) (13.5) Contributions 348.1 273.8 109.2 Distributions (188.9) (144.3) (189.7) Foreign exchange (55.8) (28.4) 24.5 Other 35.2 172.2 (3.1) Ending balance $ 2,093.7 $ 1,794.8 $ 1,136.5 The Other balance for the year ended December 31, 2022 includes $31.9 million related to the sale of a 49% ownership interest in the Montiavo. The Other balance for the year ended December 31, 2021 above includes $178.8 million related to the deconsolidation of nine multifamily assets in the MF seed portfolio during the period. As the increase in unconsolidated investments was due to a non-cash movement the amounts are reflected in Other above. See notes to cash flow statement and Note 3 for further discussion regarding the sale. The change in unrealized gains and losses on Level 3 investments during 2022 and 2021 for investments still held as of December 31, 2022 and 2021 were gains of $120.8 million and $195.3 million, respectively. The change in unrealized and realized gains and losses are included in principal co-investments Unobservable Inputs for Real Estate In determining estimated fair market values, the Company utilizes two approaches to value real estate, a discounted cash flow analysis and direct capitalization approach. Discounted cash flow models estimate future cash flows from a buyer's perspective (including terminal values) and compute a present value using a market discount rate. The holding period in the analysis is typically ten years. This is consistent with how market participants often estimate values in connection with buying real estate but these holding periods can be shorter depending on the life of the structure an investment is held within. The cash flows include a projection of the net sales proceeds at the end of the holding period, computed using a market reversionary capitalization rate. Under the direct capitalization approach, the Company applies a market derived capitalization rate to current and future income streams with appropriate adjustments for tenant vacancies or rent-free periods. These capitalization rates and future income streams are derived from comparable property and leasing transactions and are considered to be key inputs in the valuation. Other factors that are taken into consideration include tenancy details, planning, building and environmental factors that might affect the property. The Company also utilizes valuations from independent real estate appraisal firms on some of its investments ("appraised valuations"), with certain investment structures requiring appraised valuations periodically (typically annually). All appraised valuations are reviewed and approved by the Company. The accuracy of estimating fair value for investments cannot be determined with precision and cannot be substantiated by comparison to quoted prices in active markets and may not be realized in a current sale or immediate settlement of the asset or liability. Additionally, there are inherent uncertainties in any fair value measurement technique, and changes in the underlying assumptions used, including capitalization rates, discount rates, liquidity risks, and estimates of future cash flows could significantly affect the fair value measurement amounts. All valuations of real estate involve subjective judgments, and the actual market price of real estate can only be determined by negotiation between independent parties in a sales transaction. The table below describes the range of inputs used as of December 31, 2022 for real estate assets: Estimated Rates Used For Capitalization Rates Discount Rates Multifamily Income approach - discounted cash flow 5.80% — 7.50% 8.00% — 9.80% Income approach - direct capitalization 3.80% — 5.70% N/A Office Income approach - discounted cash flow 5.20% — 7.50% 7.50% — 9.30% Income approach - direct capitalization 4.20% — 8.70% N/A Industrial Income approach - discounted cash flow 5.00% —6.30% 6.30% — 7.80% Income approach - direct capitalization 3.80% — 8.30% N/A Retail Income approach - discounted cash flow 6.50% 8.30% Hotel Income approach - discounted cash flow 6.00% 8.30% In valuing indebtedness, Kennedy Wilson considers significant inputs to be the term of the debt, value of collateral, market loan-to-value ratios, market interest rates and spreads, and credit quality of investment entities. The credit spreads used by Kennedy Wilson for these types of investments range from 1.22% to 7.25%. There is no active secondary market for the Company's development projects and no readily available market value given the uncertainty of the amount and timing of future cash flows. Accordingly, determination of fair value of its development projects requires judgment and extensive use of estimates. Therefore, the Company typically uses investment cost as the estimated fair value until future cash flows become more predictable. Additionally, the fair value of its development projects may differ significantly from the values that would have been used had a ready market existed for such investments and may differ materially from the values that the Company may ultimately realize. If the Company were required to liquidate an investment in a forced or liquidation sale, it could realize significantly less than the value at which the Company has recorded it. In addition, changes in the market environment and other events that may occur over the life of the investments may cause the gains or losses ultimately realized on these investments to be different than the unrealized gains or losses reflected in the currently assigned valuations. Ongoing macroeconomic conditions such as, but not limited to, high inflation, central banks raising interest rates to curtail high inflation, currency fluctuations, the COVID-19 pandemic and the ongoing military conflict between Russia and Ukraine and international sanctions against Russia, continue to fuel recessionary fears and create volatility in our business results and operations. Any prolonged downturn in the financial markets or a recession, either globally or locally in the United States or in other countries in which we conduct business, could impact the fair value of investments held by the Company. As a result of the rapid development, fluidity and uncertainty surrounding these situations, the Company expects that information with respect to fair value measurement may change, potentially significantly, going forward and may not be indicative of the actual impact on its business, operations, cash flows and financial condition for the year ended December 31, 2022 and future periods. Currency Derivative Contracts Kennedy Wilson uses foreign currency derivative contracts such as forward contracts and options to manage its foreign currency risk exposure against a portion of certain non-U.S. dollar denominated currency net investments. Foreign currency options are valued using a variant of the Black-Scholes model tailored for currency derivatives and the foreign currency forward contracts are valued based on the difference between the contract rate and the forward rate at maturity of the underlying currency applied to the notional value in the underlying currency discounted at a market rate for similar risks. Although the Company has determined that the majority of the inputs used to value its currency derivative contracts fall within Level 2 of the fair value hierarchy, the counterparty risk adjustments associated with the currency derivative contracts utilize Level 3 inputs. However, as of December 31, 2022 and 2021, Kennedy Wilson assessed the significance of the impact of the counterparty valuation adjustments on the overall valuation of its derivative positions and determined that the counterparty valuation adjustments are not significant to the overall valuation of its derivative. As a result, the Company has determined that our derivative valuation in its entirety be classified in Level 2 of the fair value hierarchy. Changes in fair value are recorded in other comprehensive income (loss) in the accompanying consolidated statements of comprehensive income as the portion of the currency forward and option contracts used to hedge currency exposure of its certain consolidated subsidiaries qualifies as a net investment hedge under ASC Topic 815, Derivatives and Hedging . Changes in fair value on hedges associated with investments that are held at fair value are recorded through principal co-investments within income from unconsolidated investments. The Company has elected to amortize the spot to forward difference ("forward points") to interest expense over the contractual life of the hedges. On hedges associated with fair value investments the forward point amortization to interest expense is recorded as a component of principal co-investments. The fair value of the currency derivative contracts held as of December 31, 2022 and 2021 are reported in other assets for hedge assets and included in accrued expenses and other liabilities for hedge liabilities on the accompanying balance sheet. See Note 14 for a complete discussion on other comprehensive income including currency forward and option contracts and foreign currency translations. The table below details the currency forward contracts and currency option contracts Kennedy Wilson had as of December 31, 2022: (Dollars in millions) December 31, 2022 Year Ended December 31, 2022 Currency Hedged Underlying Currency Notional Hedge Asset Hedge Liability Change in Unrealized Gains Realized Gains Interest Expense Cash Paid Outstanding EUR USD € 287.5 $ 5.2 $ 12.7 $ (0.6) $ (8.7) $ 1.8 $ — EUR (1) GBP € 40.0 0.8 — 0.8 — — — EUR (1)(2) GBP — — (28.3) — — — GBP USD £ 545.0 28.3 14.6 10.8 2.2 1.8 — Total Outstanding 34.3 27.3 (17.3) (6.5) 3.6 — Settled EUR GBP — — 1.1 24.4 2.7 31.9 GBP USD — — 55.7 — 1.8 63.4 Total Settled — — 56.8 24.4 4.5 95.3 Total $ 34.3 $ 27.3 $ 39.5 (3) $ 17.9 $ 8.1 $ 95.3 (1) Hedge is held by KWE on its wholly-owned subsidiaries. (2) Relates to KWE's Euro Medium Term Note. See discussion in Note 9. (3) Excludes deferred tax expense of $16.1 million. The gains and (losses) recognized through other comprehensive income (loss) will remain in accumulated other comprehensive income (loss) until the underlying investments they were hedging are substantially liquidated by Kennedy Wilson. The currency derivative contracts discussed above are offset by foreign currency translation of the Company's foreign net assets. For the year ended December 31, 2022, Kennedy Wilson had a gross foreign currency translation loss on its net assets of $73.9 million. As of December 31, 2022, the Company has hedged 91% of the net asset carrying value of its euro denominated investments and 92% of the net asset carrying value of its GBP denominated investments. See Note 14 for a complete discussion on other comprehensive income including currency derivative contracts and foreign currency translations. Interest Rate Derivatives The Company has interest rate swaps and caps to hedge its exposure to rising interest rates. Changes in the value of interest rate swaps that are designated to specific investments have fair value movements recorded to other comprehensive income (loss) and had fair value gains of $7.4 million and a loss of $4.2 million for the years ended December 31, 2022 and 2021. Changes in the value of interest rate swaps and caps that are undesignated are recorded to other income and had fair value gains of $42.4 million and $0.8 million for the years ended December 31, 2022 and 2021. Some of the Company's unconsolidated investments have interest rate caps which resulted in a $16.9 million gain recorded in principal co-investments for the year ended December 31, 2022. During the year end December 31, 2022 the Company refinanced a mortgages with interest rate swaps. Due to the refinancing, the Company recognized $1.1 million to other income for amounts that had previously been recognized to other comprehensive income. Fair Value of Financial Instruments The carrying amounts of cash and cash equivalents, accounts receivable including related party receivables, accounts payable, accrued expenses and other liabilities approximate fair value due to their short-term maturities. The carrying value of loans (excluding related party loans as they are presumed not to be an arm’s length transaction) approximates fair value as the terms are similar to loans with similar characteristics available in the market. Debt liabilities are accounted for at face value plus net unamortized debt premiums. Debt assumed in an asset acquisition, or business combination, is recorded at fair value on the date of acquisition. The fair value as of December 31, 2022 and 2021 for mortgages, KW unsecured debt, and KWE unsecured bonds were estimated to be approximately $5.0 billion and $5.5 billion, respectively, based on a comparison of the yield that would be required in a current transaction, taking into consideration the risk of the underlying collateral and the Company's credit risk to the current yield of a similar security, compared to their carrying value of $5.6 billion and $5.1 billion as of December 31, 2022 and 2021, respectively. The inputs used to value mortgages, KW unsecured debt, and KWE unsecured bonds are based on observable inputs for similar assets and quoted prices in markets that are not active and are therefore determined to be level 2 inputs.

OTHER ASSETS

OTHER ASSETS	12 Months Ended
	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets consist of the following: December 31, (Dollars in millions) 2022 2021 Straight line rent receivable $ 42.2 $ 44.3 Interest rate caps and swaps 41.0 2.3 Hedge assets 34.3 24.5 Goodwill 23.9 23.9 Other 13.7 13.0 Furniture and equipment net of accumulated depreciation of $29.4 and $27.4 at December 31, 2022 and 2021, respectively 13.4 17.6 Prepaid expenses 12.7 13.3 Right of use asset, net 12.2 10.0 Leasing commissions, net of accumulated amortization of $11.1 and $9.7 at December 31, 2022 and 2021, respectively 9.4 8.0 Deferred taxes, net 9.4 12.6 Above-market leases, net of accumulated amortization of $53.0 and $60.4 at December 31, 2022 and 2021, respectively 3.9 8.4 Other Assets $ 216.1 $ 177.9 Depreciation and amortization expense related to the above depreciable assets were $10.2 million, $14.5 million, and $13.6 million for the years ended December 31, 2022, 2021 and 2020, respectively. Right of use asset, net The Company, as a lessee, has three office leases and three ground leases, which qualify as operating leases, with remaining lease terms of three The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted to calculate the right of use asset and related lease liability for its operating leases in which we are the lessee: (Dollars in millions) Minimum Rental Payments 2023 $ 1.1 2024 1.0 2025 1.4 2026 1.3 2027 1.3 Thereafter 33.8 Total undiscounted rental payments 39.9 Less imputed interest (27.7) Total lease liabilities $ 12.2 Rental expense was $0.6 million, $0.7 million, and $1.0 million for the years ended December 31, 2022, 2021 and 2020, respectively, and is included in general and administrative expense in the accompanying consolidated statements of income.

MORTGAGE DEBT

MORTGAGE DEBT	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
MORTGAGE DEBT	MORTGAGE DEBT The following table details mortgage debt secured by Kennedy Wilson's consolidated properties as of December 31, 2022 and 2021: (Dollars in millions) Carrying amount of mortgage debt as of December 31, (1) Mortgage Debt by Product Type Region 2022 2021 Multifamily (1) Western U.S. $ 1,692.9 $ 1,493.1 Commercial (1) United Kingdom 637.4 683.8 Commercial Western U.S. 296.6 351.0 Commercial (1) Ireland 370.7 327.3 Hotel Ireland — 82.0 Commercial Spain 36.9 40.4 Mortgage debt (excluding loan fees) (1) 3,034.5 2,977.6 Unamortized loan fees (16.5) (17.8) Total Mortgage Debt $ 3,018.0 $ 2,959.8 (1) The mortgage debt payable balances include unamortized debt discount or premiums. Debt discount or premiums represent the difference between the fair value of debt and the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The net unamortized loan discount as of December 31, 2022 was $0.6 million and the unamortized debt premium as of December 31, 2021 was $2.5 million. The mortgage debt had a weighted average interest rate of 4.12% and 3.11% per annum as of December 31, 2022 and 2021, respectively. As of December 31, 2022, 65% of Kennedy Wilson's property level debt was fixed rate, 27% was floating rate with interest caps and 8% was floating rate without interest caps, compared to 78% fixed rate, 13% floating rate with interest caps and 9% floating rate without interest caps, as of December 31, 2021. Mortgage Debt Transactions and Maturities During the year ended December 31, 2022, four acquisitions were partially financed with mortgages, five existing mortgages were refinanced, one loan was deconsolidated and one existing investments that closed with all equity were subsequently partially financed with mortgage loans. The Company also fully repaid the mortgage that was secured by the Shelbourne Hotel, so that the asset is now unencumbered. The Company and its partner also repaid a mortgage secured by a retail property in the United Kingdom at a discount and recognized a gain on extinguishment of debt of $16.1 million. See Note 4 for more detail on the acquisitions and the investment debt associated with them. The aggregate maturities of mortgage loans subsequent to December 31, 2022 are as follows: (Dollars in millions) Aggregate Maturities 2023 (1) $ 247.9 2024 186.2 2025 359.9 2026 573.4 2027 378.1 Thereafter 1,289.6 3,035.1 Unamortized debt discount (0.6) Unamortized loan fees (16.5) Total Mortgage Debt $ 3,018.0 (1) The Company expects to repay the amounts maturing in the next twelve months with new mortgage loans, cash generated from operations, existing cash balances, proceeds from dispositions of real estate investments, or as necessary, with borrowings on the Company's Second A&R Facility. Subsequent to the year-ended December 31, 2022, the Company resolved a breach of a loan-to-value covenant in a non-recourse loan agreement secured by retail and commercial assets in the United Kingdom. The Company promptly resolved such breach by paying down the mortgage by $9.1 million, $7.6 million of which was held at the properties that serves as the collateral for the subject mortgage. The loan totals $165.8 million or 5.5% of our consolidated mortgage balance at December 31, 2022.

KW UNSECURED DEBT

KW UNSECURED DEBT	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
KW UNSECURED DEBT	KW UNSECURED DEBT The following table details KW unsecured debt as of December 31, 2022 and 2021: December 31, (Dollars in millions) 2022 2021 Credit Facility $ 282.0 $ 75.0 Senior Notes (1) 1,803.5 1,803.9 KW Unsecured Debt 2,085.5 1,878.9 Unamortized loan fees (22.9) (26.6) Total KW Unsecured Debt $ 2,062.6 $ 1,852.3 (1) The senior notes balances include unamortized debt premiums (discounts). Debt premiums (discounts) represent the difference between the fair value of debt and the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized debt premium as of December 31, 2022 and December 31, 2021 was $3.5 million and $3.9 million, respectively. Borrowings Under Credit Facilities The Company, through its wholly-owned subsidiary, Kennedy-Wilson, Inc. (the "Borrower"), has a $500 million unsecured revolving credit facility (the "Second A&R Facility"). Loans under the Second A&R Facility bear interest at a rate equal to London Interbank Borrowing Rate ("LIBOR") plus between 1.75% and 2.50%, depending on the consolidated leverage ratio as of the applicable measurement date. The Second A&R Facility has a maturity date of March 25, 2024. Subject to certain conditions precedent and at the Borrower's option, the maturity date of the Second A&R Facility may be extended by one year. The Second A&R Facility has certain covenants as set forth in that certain Second Amended and Restated Credit Agreement, dated as of March 25, 2020 (the "Credit Agreement") that, among other things, limit the Company and certain of its subsidiaries’ ability to incur additional indebtedness, pay dividends or make distributions to stockholders, repurchase capital stock or debt, make investments, sell assets or subsidiary stock, create or permit liens, engage in transactions with affiliates, enter into sale/leaseback transactions, issue subsidiary equity and enter into consolidations or mergers. The Credit Agreement requires the Company to maintain (i) a maximum consolidated leverage ratio (as defined in the Credit Agreement) of not greater than 65%, measured as of the last day of each fiscal quarter, (ii) a minimum fixed charge coverage ratio (as defined in the Credit Agreement) of not less than 1.70 to 1.00, measured as of the last day of each fiscal quarter for the period of four full fiscal quarters then ended, (iii) a minimum consolidated tangible net worth equal to or greater than the sum of $1,700,000,000 plus an amount equal to fifty percent (50%) of net equity proceeds received by the Company after the date of the most recent financial statements that are available as of March 25, 2020, measured as of the last day of each fiscal quarter, (iv) a maximum recourse leverage ratio (as defined in the Credit Agreement) of not greater than an amount equal to consolidated tangible net worth as of the measurement date multiplied by 1.5, measured as of the last day of each fiscal quarter, (v) a maximum secured recourse leverage ratio (as defined in the Credit Agreement) of not greater than an amount equal to 3.5% of consolidated total asset value (as defined in the Credit Agreement) and $299,000,000, (vi) a maximum adjusted secured leverage ratio (as defined in the Credit Agreement) of not greater than 55%, measured as of the last day of each fiscal quarter, and (vii) liquidity (as defined in the Credit Agreement) of at least $75.0 million. As of December 31, 2022, the Company was in compliance with all financial covenant calculations. The obligations of the Borrower pursuant to the Credit Agreement are guaranteed by the Company and certain wholly-owned subsidiaries of the Company. As of December 31, 2022, the Company had $282.0 million outstanding on the Second A&R Facility with $218.0 million available to be drawn. The average outstanding borrowings under credit facilities was $208.0 million during the year ended December 31, 2022. Senior Notes On February 11, 2021, Kennedy-Wilson, Inc., as issuer, issued $500.0 million aggregate principal amount of 4.750% senior notes due 2029 (the “2029 notes”) and $500.0 million aggregate principal amount of 5.000% senior notes due 2031 (the “2031 notes” and, together with the 2029 notes, the “initial notes”). On March 15, 2021, Kennedy-Wilson, Inc. issued an additional $100 million aggregate principal of the 2029 notes and an additional $100 million of the 2031 notes. These additional notes were issued as "additional notes" under the indentures pursuant to which Kennedy Wilson previously issued 2029 notes and the 2031 notes. On August 23, 2021, Kennedy-Wilson, Inc. issued $600.0 million aggregate principal amount of 4.750% senior notes due 2030 (the "2030 notes" and, together with the 2029 notes and the 2031 notes, the "notes"). The notes are senior, unsecured obligations of Kennedy Wilson and are guaranteed by Kennedy-Wilson Holdings, Inc. and certain subsidiaries of Kennedy Wilson. The notes accrue interest at a rate of 4.750% (in the case of the 2029 notes), 4.750% (in the case of the 2030 notes) and 5.000% (in the case of the 2031 notes) per annum, payable semi-annually in arrears on March 1 and September 1 of each year, beginning on September 1, 2021 for the 2029 notes and 2031 notes and March 1, 2022 for the 2030 notes. The notes will mature on March 1, 2029 (in the case of the 2029 notes), February 1, 2030 (in case of 2030 notes) and March 1, 2031 (in the case of the 2031 notes), in each case unless earlier repurchased or redeemed. At any time prior to March 1, 2024 (in the case of the 2029 notes), September 1, 2024 (in the case of the 2030 notes) or March 1, 2026 (in the case of the 2031 notes), Kennedy Wilson may redeem the notes of the applicable series, in whole or in part, at a redemption price equal to 100% of their principal amount, plus an applicable “make-whole” premium and accrued and unpaid interest, if any, to the redemption date. At any time and from time to time on or after March 1, 2024 (in the case of the 2029 notes), September 1, 2024 (in the case of the 2030 notes) or March 1, 2026 (in the case of the 2031 notes), Kennedy Wilson may redeem the notes of the applicable series, in whole or in part, at specified redemption prices set forth in the indenture governing the notes of the applicable series, plus accrued and unpaid interest, if any, to the redemption date. In addition, prior to March 1, 2024 (for 2029 notes and 2031 notes) and September 1, 2024 (for 2030 notes), Kennedy Wilson may redeem up to 40% of the notes of either series from the proceeds of certain equity offerings. No sinking fund will be provided for the notes. Upon the occurrence of certain change of control or termination of trading events, holders of the notes may require Kennedy Wilson to repurchase their notes for cash equal to 101% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date. As of December 31, 2020, Kennedy Wilson, Inc. had $1.2 billion of 5.875% Senior Notes due 2024 (the "2024 notes"). On January 27, 2021 the Company announced a tender offer for up to $1.0 billion aggregate principal amount of outstanding 2024 notes. On February 9, 2021, $576.9 million aggregate principal amount of the 2024 notes were tendered. As a result of the tender offer the Company recognized $14.8 million of loss on early extinguishment of debt due to the tender premium and the proportionate write off of capitalized loan fees and debt discount associated with the bonds retired as part of the tender offer. On April 1, 2021 the Company redeemed the remaining $573.1 million of the 2024 notes using cash on hand from the proceeds of the 2029 notes and 2031 notes. As a result of the redemption the Company recognized an additional $11.7 million of loss on early extinguishment of debt during the year ended December 31, 2021. The indentures governing the notes contain various restrictive covenants, including, among others, limitations on the Company's ability and the ability of certain of the Company's subsidiaries to incur or guarantee additional indebtedness, make restricted payments, pay dividends or make any other distributions from restricted subsidiaries, redeem or repurchase capital stock, sell assets or subsidiary stocks, engage in transactions with affiliates, create or permit liens, enter into sale/leaseback transactions, and enter into consolidations or mergers. The indentures governing the notes limit the ability of Kennedy Wilson and its restricted subsidiaries to incur additional indebtedness if, on the date of such incurrence and after giving effect to the new indebtedness, the maximum balance sheet leverage ratio (as defined in the indenture) is greater than 1.50 to 1.00, subject to certain exceptions. As of December 31, 2022, the maximum balance sheet leverage ratio was 1.15 to 1.00. See Note 17 for the guarantor and non-guarantor financial statements. As of December 31, 2022, the Company was in compliance with all financial covenants. The following table details the KWE unsecured bonds as of December 31, 2022 and 2021: December 31, (Dollars in millions) 2022 2021 KWE Euro Medium Term Note Programme 507.1 624.1 Unamortized loan fees (0.7) (1.3) Total KWE Unsecured Bonds $ 506.4 $ 622.8 (1) The KWE unsecured bonds balances include unamortized debt discounts. Debt discounts represent the difference between the fair value of debt at issuance and the principal value of debt and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The net unamortized loan discount as of December 31, 2022 and 2021 was $1.5 million and $2.1 million, respectively. KWE issued senior unsecured notes for an aggregate principal amount of (€550 million) (the "KWE Notes"). The KWE Notes were issued at a discount with an annual fixed coupon of 3.25%, and mature in 2025. KWE invested proceeds from the KWE Notes to fund equity investments in euro denominated assets and has designated the KWE Notes as a net investment hedge under ASC Topic 815. Subsequent fluctuations in foreign currency rates that impact the carrying value of the KWE Notes are recorded to accumulated other comprehensive income. During the year ended December 31, 2022, Kennedy Wilson recognized a loss of $28.3 million in accumulated other comprehensive income due to the weakening of the euro against the GBP during the period. During the year ended December 31, 2022, KWE launched a cash tender offer for up to €150.0 million in aggregate nominal amount of the KWE Notes and accepted all of the €75.0 million (approximately $80.3 million, based on December 31, 2022 rates) in aggregate nominal amount of KWE Notes validly tendered pursuant to the tender offer for a purchase price equal to 82% of the nominal amount of the KWE Notes, which resulted in a gain on extinguishment of debt of $13.9 million. The trust deed that governs the bonds contain various restrictive covenants for KWE, including, among others, limitations on KWE’s and its material subsidiaries’ ability to provide certain negative pledges. The trust deed limits the ability of KWE and its subsidiaries to incur additional indebtedness if, on the date of such incurrence and after giving effect to the incurrence of the new indebtedness, (1) KWE’s consolidated net indebtedness (as defined in the trust deed) would exceed 60% of KWE’s total assets (as calculated pursuant to the terms of the trust deed); and (2) KWE’s consolidated secured indebtedness (as defined in the trust deed) would exceed 50% of KWE’s total assets (as calculated pursuant to the terms of the trust deed). The trust deed also requires KWE, as of each reporting date, to maintain an interest coverage ratio (as defined in the trust deed) of at least 1.50 to 1.00 and have unencumbered assets of no less than 125% of its unsecured indebtedness (as defined in the trust deed).

KWE UNSECURED BONDS

KWE UNSECURED BONDS	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
KWE UNSECURED BONDS	KW UNSECURED DEBT The following table details KW unsecured debt as of December 31, 2022 and 2021: December 31, (Dollars in millions) 2022 2021 Credit Facility $ 282.0 $ 75.0 Senior Notes (1) 1,803.5 1,803.9 KW Unsecured Debt 2,085.5 1,878.9 Unamortized loan fees (22.9) (26.6) Total KW Unsecured Debt $ 2,062.6 $ 1,852.3 (1) The senior notes balances include unamortized debt premiums (discounts). Debt premiums (discounts) represent the difference between the fair value of debt and the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized debt premium as of December 31, 2022 and December 31, 2021 was $3.5 million and $3.9 million, respectively. Borrowings Under Credit Facilities The Company, through its wholly-owned subsidiary, Kennedy-Wilson, Inc. (the "Borrower"), has a $500 million unsecured revolving credit facility (the "Second A&R Facility"). Loans under the Second A&R Facility bear interest at a rate equal to London Interbank Borrowing Rate ("LIBOR") plus between 1.75% and 2.50%, depending on the consolidated leverage ratio as of the applicable measurement date. The Second A&R Facility has a maturity date of March 25, 2024. Subject to certain conditions precedent and at the Borrower's option, the maturity date of the Second A&R Facility may be extended by one year. The Second A&R Facility has certain covenants as set forth in that certain Second Amended and Restated Credit Agreement, dated as of March 25, 2020 (the "Credit Agreement") that, among other things, limit the Company and certain of its subsidiaries’ ability to incur additional indebtedness, pay dividends or make distributions to stockholders, repurchase capital stock or debt, make investments, sell assets or subsidiary stock, create or permit liens, engage in transactions with affiliates, enter into sale/leaseback transactions, issue subsidiary equity and enter into consolidations or mergers. The Credit Agreement requires the Company to maintain (i) a maximum consolidated leverage ratio (as defined in the Credit Agreement) of not greater than 65%, measured as of the last day of each fiscal quarter, (ii) a minimum fixed charge coverage ratio (as defined in the Credit Agreement) of not less than 1.70 to 1.00, measured as of the last day of each fiscal quarter for the period of four full fiscal quarters then ended, (iii) a minimum consolidated tangible net worth equal to or greater than the sum of $1,700,000,000 plus an amount equal to fifty percent (50%) of net equity proceeds received by the Company after the date of the most recent financial statements that are available as of March 25, 2020, measured as of the last day of each fiscal quarter, (iv) a maximum recourse leverage ratio (as defined in the Credit Agreement) of not greater than an amount equal to consolidated tangible net worth as of the measurement date multiplied by 1.5, measured as of the last day of each fiscal quarter, (v) a maximum secured recourse leverage ratio (as defined in the Credit Agreement) of not greater than an amount equal to 3.5% of consolidated total asset value (as defined in the Credit Agreement) and $299,000,000, (vi) a maximum adjusted secured leverage ratio (as defined in the Credit Agreement) of not greater than 55%, measured as of the last day of each fiscal quarter, and (vii) liquidity (as defined in the Credit Agreement) of at least $75.0 million. As of December 31, 2022, the Company was in compliance with all financial covenant calculations. The obligations of the Borrower pursuant to the Credit Agreement are guaranteed by the Company and certain wholly-owned subsidiaries of the Company. As of December 31, 2022, the Company had $282.0 million outstanding on the Second A&R Facility with $218.0 million available to be drawn. The average outstanding borrowings under credit facilities was $208.0 million during the year ended December 31, 2022. Senior Notes On February 11, 2021, Kennedy-Wilson, Inc., as issuer, issued $500.0 million aggregate principal amount of 4.750% senior notes due 2029 (the “2029 notes”) and $500.0 million aggregate principal amount of 5.000% senior notes due 2031 (the “2031 notes” and, together with the 2029 notes, the “initial notes”). On March 15, 2021, Kennedy-Wilson, Inc. issued an additional $100 million aggregate principal of the 2029 notes and an additional $100 million of the 2031 notes. These additional notes were issued as "additional notes" under the indentures pursuant to which Kennedy Wilson previously issued 2029 notes and the 2031 notes. On August 23, 2021, Kennedy-Wilson, Inc. issued $600.0 million aggregate principal amount of 4.750% senior notes due 2030 (the "2030 notes" and, together with the 2029 notes and the 2031 notes, the "notes"). The notes are senior, unsecured obligations of Kennedy Wilson and are guaranteed by Kennedy-Wilson Holdings, Inc. and certain subsidiaries of Kennedy Wilson. The notes accrue interest at a rate of 4.750% (in the case of the 2029 notes), 4.750% (in the case of the 2030 notes) and 5.000% (in the case of the 2031 notes) per annum, payable semi-annually in arrears on March 1 and September 1 of each year, beginning on September 1, 2021 for the 2029 notes and 2031 notes and March 1, 2022 for the 2030 notes. The notes will mature on March 1, 2029 (in the case of the 2029 notes), February 1, 2030 (in case of 2030 notes) and March 1, 2031 (in the case of the 2031 notes), in each case unless earlier repurchased or redeemed. At any time prior to March 1, 2024 (in the case of the 2029 notes), September 1, 2024 (in the case of the 2030 notes) or March 1, 2026 (in the case of the 2031 notes), Kennedy Wilson may redeem the notes of the applicable series, in whole or in part, at a redemption price equal to 100% of their principal amount, plus an applicable “make-whole” premium and accrued and unpaid interest, if any, to the redemption date. At any time and from time to time on or after March 1, 2024 (in the case of the 2029 notes), September 1, 2024 (in the case of the 2030 notes) or March 1, 2026 (in the case of the 2031 notes), Kennedy Wilson may redeem the notes of the applicable series, in whole or in part, at specified redemption prices set forth in the indenture governing the notes of the applicable series, plus accrued and unpaid interest, if any, to the redemption date. In addition, prior to March 1, 2024 (for 2029 notes and 2031 notes) and September 1, 2024 (for 2030 notes), Kennedy Wilson may redeem up to 40% of the notes of either series from the proceeds of certain equity offerings. No sinking fund will be provided for the notes. Upon the occurrence of certain change of control or termination of trading events, holders of the notes may require Kennedy Wilson to repurchase their notes for cash equal to 101% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date. As of December 31, 2020, Kennedy Wilson, Inc. had $1.2 billion of 5.875% Senior Notes due 2024 (the "2024 notes"). On January 27, 2021 the Company announced a tender offer for up to $1.0 billion aggregate principal amount of outstanding 2024 notes. On February 9, 2021, $576.9 million aggregate principal amount of the 2024 notes were tendered. As a result of the tender offer the Company recognized $14.8 million of loss on early extinguishment of debt due to the tender premium and the proportionate write off of capitalized loan fees and debt discount associated with the bonds retired as part of the tender offer. On April 1, 2021 the Company redeemed the remaining $573.1 million of the 2024 notes using cash on hand from the proceeds of the 2029 notes and 2031 notes. As a result of the redemption the Company recognized an additional $11.7 million of loss on early extinguishment of debt during the year ended December 31, 2021. The indentures governing the notes contain various restrictive covenants, including, among others, limitations on the Company's ability and the ability of certain of the Company's subsidiaries to incur or guarantee additional indebtedness, make restricted payments, pay dividends or make any other distributions from restricted subsidiaries, redeem or repurchase capital stock, sell assets or subsidiary stocks, engage in transactions with affiliates, create or permit liens, enter into sale/leaseback transactions, and enter into consolidations or mergers. The indentures governing the notes limit the ability of Kennedy Wilson and its restricted subsidiaries to incur additional indebtedness if, on the date of such incurrence and after giving effect to the new indebtedness, the maximum balance sheet leverage ratio (as defined in the indenture) is greater than 1.50 to 1.00, subject to certain exceptions. As of December 31, 2022, the maximum balance sheet leverage ratio was 1.15 to 1.00. See Note 17 for the guarantor and non-guarantor financial statements. As of December 31, 2022, the Company was in compliance with all financial covenants. The following table details the KWE unsecured bonds as of December 31, 2022 and 2021: December 31, (Dollars in millions) 2022 2021 KWE Euro Medium Term Note Programme 507.1 624.1 Unamortized loan fees (0.7) (1.3) Total KWE Unsecured Bonds $ 506.4 $ 622.8 (1) The KWE unsecured bonds balances include unamortized debt discounts. Debt discounts represent the difference between the fair value of debt at issuance and the principal value of debt and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The net unamortized loan discount as of December 31, 2022 and 2021 was $1.5 million and $2.1 million, respectively. KWE issued senior unsecured notes for an aggregate principal amount of (€550 million) (the "KWE Notes"). The KWE Notes were issued at a discount with an annual fixed coupon of 3.25%, and mature in 2025. KWE invested proceeds from the KWE Notes to fund equity investments in euro denominated assets and has designated the KWE Notes as a net investment hedge under ASC Topic 815. Subsequent fluctuations in foreign currency rates that impact the carrying value of the KWE Notes are recorded to accumulated other comprehensive income. During the year ended December 31, 2022, Kennedy Wilson recognized a loss of $28.3 million in accumulated other comprehensive income due to the weakening of the euro against the GBP during the period. During the year ended December 31, 2022, KWE launched a cash tender offer for up to €150.0 million in aggregate nominal amount of the KWE Notes and accepted all of the €75.0 million (approximately $80.3 million, based on December 31, 2022 rates) in aggregate nominal amount of KWE Notes validly tendered pursuant to the tender offer for a purchase price equal to 82% of the nominal amount of the KWE Notes, which resulted in a gain on extinguishment of debt of $13.9 million. The trust deed that governs the bonds contain various restrictive covenants for KWE, including, among others, limitations on KWE’s and its material subsidiaries’ ability to provide certain negative pledges. The trust deed limits the ability of KWE and its subsidiaries to incur additional indebtedness if, on the date of such incurrence and after giving effect to the incurrence of the new indebtedness, (1) KWE’s consolidated net indebtedness (as defined in the trust deed) would exceed 60% of KWE’s total assets (as calculated pursuant to the terms of the trust deed); and (2) KWE’s consolidated secured indebtedness (as defined in the trust deed) would exceed 50% of KWE’s total assets (as calculated pursuant to the terms of the trust deed). The trust deed also requires KWE, as of each reporting date, to maintain an interest coverage ratio (as defined in the trust deed) of at least 1.50 to 1.00 and have unencumbered assets of no less than 125% of its unsecured indebtedness (as defined in the trust deed).

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Related party revenue is fees and other income received from investments in which the Company has an ownership interest, excluding amounts eliminated in consolidation discussed below. Kennedy Wilson earned related party fees of $45.2 million, $35.3 million and $22.8 million for the periods ended December 31, 2022, 2021 and 2020, respectively. The Company provides investment and property management and other property related services on properties in which it also has an ownership interest. Fees earned on consolidated properties are eliminated in consolidation and fees on unconsolidated investments are eliminated for the portion that relate to the Company's ownership interest. During the years ended December 31, 2022, 2021 and 2020 fees of $0.4 million, $0.8 million and $1.1 million, respectively, were eliminated in consolidation.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The table below represents a geographical breakdown of book income (loss) before the provision for income taxes: Year ended December 31, (Dollars in millions) 2022 2021 2020 Domestic $ 88.5 $ 447.6 $ (37.0) Foreign 49.6 14.9 188.4 Total $ 138.1 $ 462.5 $ 151.4 The U.S. and foreign components of provision for income taxes consisted of the following components. However, it is not reflective of the cash tax results of the Company. Year ended December 31, (Dollars in millions) 2022 2021 2020 Federal Current $ — $ — $ — Deferred 3.6 94.4 23.3 3.6 94.4 23.3 State Current 0.3 (0.2) 1.5 Deferred 11.3 9.1 0.4 11.6 8.9 1.9 Foreign Current 17.6 14.2 14.9 Deferred 3.4 8.7 3.5 21.0 22.9 18.4 Total $ 36.2 $ 126.2 $ 43.6 A reconciliation of the statutory federal income tax rate of 21% with Kennedy Wilson’s effective income tax rate is as follows: Year ended December 31, (Dollars in millions) 2022 2021 2020 Tax computed at the statutory rate $ 29.0 $ 97.1 $ 31.8 Tax deduction in excess of book compensation from restricted stock vesting — — 0.1 Domestic permanent differences, primarily disallowed executive compensation 7.8 8.1 7.2 Foreign permanent differences, primarily non-deductible depreciation, amortization and interest expenses in the United Kingdom 1.7 8.2 2.0 Effect of foreign operations, net of foreign tax credit (8.8) 7.4 (3.7) Noncontrolling interests (1.1) (2.6) (0.9) State income taxes, net of federal benefit 2.8 7.0 2.9 Other 4.8 1.0 4.2 Provision for income taxes $ 36.2 $ 126.2 $ 43.6 Cumulative tax effects of temporary differences are shown below at December 31, 2022 and 2021: Year ended December 31, (Dollars in millions) 2022 2021 Deferred tax assets: Foreign currency translation $ 5.0 $ 2.7 Net operating loss carryforward and credits 152.0 172.4 Depreciation and amortization 51.5 — Investment basis difference 90.7 96.8 Stock option expense 2.0 2.2 Hedging transactions 10.0 7.8 Lease liability 0.1 0.1 Accrued reserves 9.5 11.1 Total deferred tax assets 320.8 293.1 Valuation allowance (265.9) (257.1) Net deferred tax assets 54.9 36.0 Deferred tax liabilities: Investment basis and reserve differences 344.9 285.4 Depreciation and amortization — 3.9 Right of use asset 0.1 0.1 Prepaid expenses and other 3.7 2.2 Capitalized interest 1.0 1.3 Total deferred tax liabilities 349.7 292.9 Deferred tax liability, net $ (294.8) $ (256.9) During 2019, the United Kingdom enacted a Finance Act, which introduced a new capital gain tax for non-UK resident investors who dispose of UK real estate. The new capital gain tax law became effective on April 6, 2019. Beginning on this date, non-UK resident investors are subject to UK tax on gains arising from the direct and indirect dispositions of UK real estate held for investment purposes. Transitional provisions allowed for rebasing of UK real estate values to fair market value as of April 5, 2019 ("UK Basis Step-Up"). Accordingly, only gains arising from property value increases after April 5, 2019 are subject to tax. The step-up led to a higher tax basis relative to the carrying value of the UK real estate, thus resulting in a UK deferred tax asset of $107.0 million. The realizability of this deferred tax asset is dependent on future disposition of real estate at a fair market value in excess of appraised value as of April 5, 2019. Given uncertainties surrounding Brexit and its potential impact on future real estate values, the Company concluded that the U.K. deferred tax asset did not meet the more likely than not threshold of being realizable. Therefore, a full valuation allowance was recorded against the UK deferred tax asset. During fiscal year 2022, the valuation allowance on the UK Basis Step-Up increased to $143.1 million, primarily due to current year depreciation expense. During March 2018, Kennedy Wilson elected to treat KWE as a partnership for U.S. tax purposes retroactive to December 29, 2017. Due to unrealized foreign exchange losses not yet deductible for tax purposes and the consideration paid to acquire the non-controlling interests in KWE exceeding the book carrying value of the non-controlling interests in KWE, the Company’s tax basis in KWE exceeded its book carrying value at December 29, 2017, and every period thereafter. Prior to the election to treat KWE as a partnership, KWE was taxed as a controlled foreign corporation. As a controlled foreign corporation, the Company was precluded from recognizing a deferred tax asset for its tax basis in excess of book carrying value for its investment in KWE as the excess tax basis from the investment was not expected to reverse in the foreseeable future. However, as a result of the conversion of KWE to a partnership for U.S. tax purposes, the Company was required to record a deferred tax asset for its investment in KWE. As of December 31, 2018, the Company recorded a $98.3 million deferred tax asset related to its excess tax basis over book carrying value for its investment in KWE. As a significant portion of the excess tax basis would only reverse upon a strengthening of foreign currencies or upon a disposition of KWE, the Company determined that a valuation allowance of $98.3 million was required for the tax basis that was in excess of the Company’s carrying value for its investment in KWE as it did not meet the more likely than not recognition threshold. During the years ended December 31, 2021, 2020 and 2019, a portion of the excess tax basis over book basis in KWE reversed as a result of lower tax gains on sales of real estate. During the year ended December 31, 2022, our excess tax basis over book basis in KWE increased due to unrealized foreign currency losses that are not currently deductible for tax. As of December 31, 2022, Kennedy Wilson’s excess tax basis in KWE and the related valuation allowance were $76.0 million and $75.4 million, respectively. As of December 31, 2022, Kennedy Wilson had federal, California and other state net operating losses of $3.4 million, $90.9 million, and $11.2 million, respectively. The entirety of the $3.4 million federal net operating loss carryforwards were generated after December 31, 2017 and do not expire. However, such losses are only eligible to offset 80% of taxable income in a given year. California net operating losses begin to expire in 2034. As of December 31, 2022, Kennedy Wilson had $175.5 million of foreign net operating loss carryforwards, which have no expiration date. The Company has foreign tax credit carryforwards of $92.0 million, of which $0.5 million begin to expire in December 2023. The Company's valuation allowance on deferred tax assets increased by $8.8 million in 2022 and increased by $52.7 million in 2021. The increase in the valuation allowance during 2022 primarily relates to additional valuation allowance recorded on the Company's UK Basis Step-Up deferred tax asset as a result of depreciation. The increase in the 2021 valuation allowance principally relates to remeasuring the UK Basis Step Up deferred tax asset from 19% to 25%. In June 2021, the Company received a notification of a general tax inquiry being conducted by the Spanish tax authorities for several of its Spanish entities for tax years 2016 and 2017. As a result of the Spanish tax inquiry, management has reassessed the Company’s prior Spanish tax filing positions and the need to accrue additional taxes. Based on this reassessment, the Company believes that no additional Spanish tax accruals are required. Kennedy Wilson’s federal and state income tax returns remain open to examination for the years 2019 through 2021 and 2017 through 2021, respectively. However, due to the existence of prior year loss carryovers, the IRS may examine any tax years for which the carryovers are used to offset future taxable income. Our foreign subsidiaries’ tax returns remain open to examination for the years 2018 through 2021. The Spanish loss carryovers may be subject to tax examination for a period of 10 years from the period in which such losses were generated.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES CAPITAL COMMITMENTS—As of December 31, 2022 and 2021, the Company has unfunded capital commitments of $246.6 million and $113.7 million to its joint ventures under the respective operating agreements. It also has commitments of $17.7 million and $21.6 million as of December 31, 2022 and 2021 to its loan platform. In addition to the unfunded capital commitments on its joint venture investments, the Company has $87.4 million of equity commitments relating on consolidated and unconsolidated development projects as of December 31, 2022. The Company may be called upon to contribute additional capital to joint ventures in satisfaction of the Company's capital commitment obligations. LITIGATION—Kennedy Wilson is currently a defendant in certain routine litigation arising in the ordinary course of business. It is the opinion of management and legal counsel that the outcome of these actions will not have a material effect on the financial statements taken as a whole.

STOCK COMPENSATION AND OTHER RE

STOCK COMPENSATION AND OTHER RELATED PLANS	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
STOCK COMPENSATION AND OTHER RELATED PLANS	STOCK COMPENSATION AND OTHER RELATED PLANSThe Company maintains a shareholder-approved equity participation plan (the “Second Amended and Restated Plan”) under which shares of common stock are reserved for issuance pursuant to grants of restricted stock and other awards to officers, employees, non-employee directors and consultants. The Second Amended and Restated Plan also allows for share recycling on net settled restricted stock awards, restricted stock unit awards, performance unit awards and performance share awards. Named Executive Officers ("NEO") participate in the Second Amended and Restated Plan. During the years ended December 31, 2022, 2021 and 2020, the compensation committee of the board of directors approved the total grant of 2.8 million shares of performance-based restricted stock units, 2.4 million shares of performance-based restricted stock units and 0.1 million shares of performance-based restricted shares of Company common stock and 2.0 million of performance-based restricted shares of Company common stock or performance-based restricted stock units covering Company common stock, respectively, subject to vesting based on the Company’s total shareholder return (the “TSR restricted awards”), performance-based restricted shares of Company common stock or performance-based restricted stock units covering Company common stock subject to vesting based on the Company’s return on equity (the “ROE awards”), and time-based restricted shares of Company common stock or time-based restricted stock units covering Company common stock (the “time-based awards”) (collectively, the “awards”), under the Second Amended and Restated Plan. Up to 100% of the TSR awards will be eligible to vest based on the Company's total shareholder return relative to the MSCI World Real Estate Index during a three-year performance period (subject to continued employment through the vesting date), with the actual number of shares subject to such TSR awards that vest and cease to be subject to restrictions with respect to the performance period determined by multiplying (i) the total number of shares subject to the TSR award by (ii) the applicable vesting percentage (which is determined based on the level of the Company's relative total shareholder return attained during the performance period). Up to one-third of the ROE awards will be eligible to vest with respect to each Company fiscal year of the performance period (each, a “performance year”) to the extent that the Company satisfies the return on equity goals for such performance year (subject to continued employment through the vesting date). One-third of the time-based awards will vest on each of the first three Upon vesting, the restricted stock granted to employees discussed directly above is net share-settled to cover the withholding tax. Shares that vested during the years ended December 31, 2022, 2021 and 2020 were net-share settled such that the Company withheld shares with values equivalent to the employees’ minimum statutory obligations for the applicable income and other employment taxes, and remitted the cash to the appropriate taxing authorities. The total shares withheld during the years ended December 31, 2022, 2021 and 2020 were 834,911 shares, 967,536 shares, and 571,983 shares respectively, and were valued based on the Company’s closing stock price on the respective vesting dates. During the years ended December 31, 2022, 2021 and 2020, total payments for the employees’ tax obligations to the taxing authorities were $18.6 million, $20.5 million, and $11.6 million respectively. These figures are reflected as a financing activity on the accompanying consolidated statements of cash flows. During the years ended December 31, 2022, 2021 and 2020, Kennedy Wilson recognized $29.0 million, $28.7 million, and $32.3 million, respectively, of compensation expense related to the vesting of restricted common stock and is included in compensation and related expense in the accompanying consolidated statements of income. The following table sets forth activity under the Amended and Restated Plan, the First Amended and Restated Plan, and the Second Amended and Restated Plan for the Company's fiscal years ending December 31, 2022, 2021 and 2020: Shares Nonvested at December 31, 2020 3,453,768 Granted 619,945 Vested (2,522,019) Forfeited (237,588) Nonvested at December 31, 2021 1,314,106 Granted 1,221,362 Vested (834,910) Forfeited — Nonvested at December 31, 2022 1,700,558 Non-NEO Deferred Compensation Program and Performance Allocation Sharing Program The Company maintains a deferred compensation program for certain employees of the Company (the “Deferred Compensation Program”). The named executive officers of the Company are not participants of the Deferred Compensation Program. The compensation committee of the Company’s board of directors approves an amount annually to be allocated to certain employees of the Company in the United States and in Europe. The amount allocated to each employee vests ratably over a three-year vesting period, subject to continued employment with the Company. Prior to 2022, half of the allocated amount was tied specifically to the performance and value of the Company’s common stock at the time of each vesting (“Bonus Units”). Beginning in 2022, the entire amount allocated to each employee consisted of Bonus Units. Under the Deferred Compensation Program, at the time of each vesting, the employees receive an amount equal to either the dividend yield of the Company’s common stock or the actual amount of dividends paid on the Company common stock (in the case of Bonus Units) during the immediately preceding year on the amount that is subject to such vesting. During the years ended December 31, 2022, 2021 and 2020 the Company recognized compensation expense of $9.2 million, $11.8 million and $6.4 million, respectively, under the Deferred Cash Bonus Program.

EQUITY

EQUITY	Mar. 08, 2022
Equity [Abstract]
EQUITY	EQUITY Preferred Stock In October 2019, the Company announced the issuance of a $300 million perpetual preferred equity investment in Kennedy Wilson by affiliates of Eldridge Industries (collectively, "Eldridge"). Under the terms of the agreement, Eldridge purchased $300 million in cumulative perpetual convertible preferred stock carrying a 5.75% annual dividend rate, with an initial conversion price of $25.00 per share. The preferred stock is callable by Kennedy Wilson on and after October 15, 2025. On March 8, 2022, the Company announced the issuance of its $300 million cumulative perpetual preferred stock, in addition to approximately 13 million of its warrants to affiliates of Fairfax Financial Holdings Limited (collectively, "Fairfax"). Under the terms of the agreements, Fairfax purchased $300 million in cumulative perpetual preferred stock carrying a 4.75% annual dividend rate and approximately 13 million 7-year warrants, which are initially convertible to the same number of common shares with and an initial exercise price of $23.00 per share. Both perpetual preferred stock issuances are treated as permanent equity. At-the-Market Equity Offering Program In May 2022, the Company established an at-the-market equity offering program (the “ATM Program”) pursuant to which it may issue and sell shares of the Company’s common stock having an aggregate gross sales price of up to $200.0 million in amounts as the Company may determine from time to time. During the year ended December 31, 2022, the Company did not issue any shares under its ATM Program. The Company has no obligation to sell any of such shares under its ATM Program. Actual sales will depend on a variety of factors to be determined by the Company from time to time, including, among others, market conditions, the trading price of its common stock, the Company's determination of the appropriate sources of funding for the Company, and potential uses of funding available. Common Stock Repurchase Program On March 20, 2018, the Company announced that its board of directors authorized a $250.0 million stock repurchase program. Repurchases under the program may be made in the open market, in privately negotiated transactions, through the net settlement of the Company’s restricted stock grants or otherwise, with the amount and timing of repurchases dependent on market conditions and subject to the Company’s discretion. On November 4, 2020, the Company's board of directors authorized an expansion of its existing $250 million share repurchase plan to $500 million. During the year ended December 31, 2022, Kennedy Wilson repurchased and retired 551,162 shares for $12.6 million. During the year ended December 31, 2021, Kennedy Wilson repurchased and retired 2,824,665 shares for $62.7 million under the previous stock repurchase program. Generally, upon vesting, the restricted stock granted to employees is net share-settled such that the Company will withhold shares with value equivalent to the employees’ minimum statutory obligation for the applicable income and other employment taxes, and remit the cash to the appropriate taxing authorities. See Note 14 for more detail. Dividend Distributions Kennedy Wilson declared and paid the following cash dividends on its common stock: (Dollars in millions) Year Ended December 31, 2022 Year Ended December 31, 2021 Declared Paid Declared Paid Preferred Stock $ 28.9 $ 25.9 $ 17.2 $ 17.2 Common Stock (1) 132.3 134.6 125.8 123.5 (1) The difference between declared and paid is the amount accrued on the consolidated balance sheets. Taxability of Dividends Earnings and profits, which determine the taxability of distributions to stockholders, may differ from income reported for financial reporting purposes due to the differences for federal income tax purposes in the treatment of revenue recognition, compensation expense, derivative investments and the basis of depreciable assets and estimated useful lives used to compute depreciation. The Company's dividends related to its common stock will be classified for U.S. federal income tax purposes as follows: Record Date Payment Date Distributions Per Share Ordinary Dividends Return of Capital 12/31/2021 1/6/2022 $ 0.2400 $ 0.0908 $ 0.1492 3/31/2022 4/7/2022 0.2400 0.0908 0.1492 6/30/2022 7/7/2022 0.2400 0.0908 0.1492 9/30/2022 10/6/2022 0.2400 0.0908 0.1492 Totals $ 0.9600 $ 0.3632 $ 0.5968 Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in each component of accumulated other comprehensive loss ("AOCI"), net of taxes: (Dollars in millions) Foreign Currency Translation Foreign Currency Derivative Contracts Interest Rate Swaps Total Accumulated Other Comprehensive Loss (1) Balance at December 31, 2021 $ (88.2) $ 58.6 $ (1.6) $ (31.2) Unrealized (losses) gains, arising during the period (73.9) 39.5 7.4 (27.0) Taxes on unrealized losses (gains), arising during the period 2.2 (16.1) (1.8) (15.7) Amounts reclassified out of AOCI during the period, gross — — (1.1) (1.1) Amounts reclassified out of AOCI during the period, taxes — — 0.3 0.3 Noncontrolling interest 3.0 — — 3.0 Balance at December 31, 2022 $ (156.9) $ 82.0 $ 3.2 $ (71.7) (1) Excludes $358.4 million of inception to date accumulated other comprehensive losses associated with noncontrolling interest holders of KWE that the Company was required to record as part of the KWE Transaction in October 2017. The local currencies for the Company's interests in foreign operations include the euro and the British pound sterling. The related amounts on our balance sheets are translated into U.S. dollars at the exchange rates at the respective financial statement date, while amounts on our statements of income are translated at the average exchange rates during the respective period. Unrealized losses on foreign currency translation is a result of the weakening of the euro and British pound sterling against the U.S. dollar during the year ended December 31, 2022. In order to manage currency fluctuations, Kennedy Wilson entered into currency derivative contracts to manage its exposure to currency fluctuations between its functional currency (U.S. dollar) and the functional currency (Euro and GBP) of certain of its wholly-owned and consolidated subsidiaries. See Note 5 for a more detailed discussion of Kennedy Wilson's currency derivative contracts.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is computed by dividing net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common stockholders by the weighted average number of common shares outstanding. Diluted earnings per share is computed after adjusting the numerator and denominator of the basic earnings per share computation for the effects of all potentially dilutive common shares. The dilutive effect of non-vested stock issued under share‑based compensation plans is computed using the treasury stock method. The dilutive effect of the cumulative preferred stock is computed using the if‑converted method. The following is a summary of the elements used in calculating basic and diluted income per share for the years ended December 31, 2022, 2021 and 2020: Year ended December 31, (Dollars in millions, except share amounts and per share data) 2022 2021 2020 Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 64.8 $ 313.2 $ 92.9 Weighted-average shares outstanding for basic 136,900,875 138,552,058 139,741,411 Income per share - basic $ 0.47 $ 2.26 $ 0.66 Weighted average shares outstanding for diluted 138,567,534 140,132,435 140,347,365 Income per share - diluted $ 0.47 $ 2.24 $ 0.66 There was a total of 26,958,511, 13,572,590 and 13,236,896 during the years ended December 31, 2022, 2021 and 2020, respectively, potentially dilutive securities were not included in the diluted weighted average shares as they were anti-dilutive. Potentially anti-dilutive securities include preferred stock and unvested restricted stock grants.

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION Segments The Company's operations are defined by two business segments: its Consolidated investment portfolio (the "Consolidated Portfolio") and its Co-Investment Portfolio: • Consolidated Portfolio consists of the investments that the Company has made in real estate and real estate-related assets and consolidates on its balance sheet. The Company typically wholly-owns the assets in its Consolidated Portfolio. • Co-Investment Portfolio consists of (i) the co-investments that the Company has made in real estate and real estate-related assets, including loans secured by real estate, through the commingled funds and joint ventures that it manages; and (ii) the fees (including, without limitation, asset management fees and construction management fees); and (iii) performance allocations that it earns on its fee bearing capital. The Company typically owns a 5% to 50% ownership interest in the assets in its Co-Investment Portfolio. In addition to the Company's two primary business segments the Company's Corporate segment includes, among other things, corporate overhead and Property Services for all periods prior to its sale in the fourth quarter 2020. Consolidated Portfolio Consolidated Portfolio is a permanent capital vehicle focused on maximizing property cash flow. These assets are primarily wholly-owned and tend to have longer hold periods and the Company targets investments with accretive asset management opportunities. The Company typically focuses on office and multifamily assets in the Western United States and commercial assets in the United Kingdom and Ireland within this segment. Co-Investment Portfolio Co-Investment Portfolio segment consists of investments the Company makes with partners in which it receives (i) the fees (including, without limitation, asset management fees and construction management fees); (ii) performance allocations that it earns on its fee bearing capital; and (iii) and its ownership interest in the underlying operations of its co-investments. The Company utilizes different platforms in the Co-Investment Portfolio segment depending on the asset and risk return profiles. No single third-party client accounted for 10% or more of Kennedy Wilson's revenue during any period presented in these financial statements. The following tables summarize the income and expense activity by segment for the years ended December 31, 2022, 2021 and 2020 and total assets as of December 31, 2022 and 2021. Year Ended December 31, 2022 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 434.9 $ — $ — $ 434.9 Hotel 46.9 — — 46.9 Investment management fees — 44.8 — 44.8 Property services fees — — 1.7 1.7 Loans and other — 11.7 — 11.7 Total revenue 481.8 56.5 1.7 540.0 Income from unconsolidated investments Principal co-investments — 199.5 — 199.5 Performance allocations — (21.1) — (21.1) Income from unconsolidated investments — 178.4 — 178.4 Gain on sale of real estate, net 103.7 — — 103.7 Expenses Rental 151.2 — — 151.2 Hotel 29.5 — — 29.5 Compensation and related 41.5 44.6 25.2 111.3 Share-based compensation — — 29.0 29.0 Performance allocation compensation — (4.3) — (4.3) General and administrative 14.7 14.8 7.7 37.2 Depreciation and amortization 172.9 — — 172.9 Total expenses 409.8 55.1 61.9 526.8 Interest expense (128.2) — (92.6) (220.8) Gain on early extinguishment of debt 27.5 — — 27.5 Other income 20.8 — 15.3 36.1 Provision for income taxes (21.0) — (15.2) (36.2) Net income (loss) 74.8 179.8 (152.7) 101.9 Net income attributable to noncontrolling interests (8.2) — — (8.2) Preferred dividends — — (28.9) (28.9) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 66.6 $ 179.8 $ (181.6) $ 64.8 Year Ended December 31, 2021 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 390.5 $ — $ — $ 390.5 Hotel 17.1 — — 17.1 Investment management fees — 35.3 — 35.3 Property services fees — — 2.1 2.1 Loans and other — 8.6 — 8.6 Total revenue 407.6 43.9 2.1 453.6 Income from unconsolidated investments Principal co-investments — 271.1 — 271.1 Performance allocations — 117.9 — 117.9 Income from unconsolidated investments — 389.0 — 389.0 Gain on sale of real estate, net 412.7 — — 412.7 Expenses Rental 132.7 — — 132.7 Hotel 12.7 — — 12.7 Compensation and related 60.4 40.4 33.1 133.9 Share-based compensation — — 28.7 28.7 Performance allocation compensation — 42.0 — 42.0 General and administrative 18.5 8.5 6.3 33.3 Depreciation and amortization 166.3 — — 166.3 Total expenses 390.6 90.9 68.1 549.6 Interest expense (119.1) — (73.3) (192.4) Loss on extinguishment of debt (19.2) — (26.5) (45.7) Other loss (4.7) — (0.3) (5.0) Provision for income taxes (23.0) — (103.2) (126.2) Net income (loss) 263.7 342.0 (269.3) 336.4 Net income attributable to noncontrolling interests (6.0) — — (6.0) Preferred dividends — — (17.2) (17.2) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 257.7 $ 342.0 $ (286.5) $ 313.2 Year Ended December 31, 2020 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 403.9 $ — $ — $ 403.9 Hotel 13.9 — — 13.9 Investment management fees — 22.5 — 22.5 Property services fees — — 10.6 10.6 Loans and other — 3.1 — 3.1 Total revenue 417.8 25.6 10.6 454.0 Income from unconsolidated investments Principal co-investments — 78.3 — 78.3 Performance allocations — 2.7 — 2.7 Income from unconsolidated investments — 81.0 — 81.0 Gain on sale of real estate, net 338.0 — — 338.0 Expenses Rental 135.7 — — 135.7 Hotel 13.8 — — 13.8 Compensation and related 59.7 20.8 31.4 111.9 Share-based compensation — — 32.3 32.3 Performance allocation compensation — 0.2 — 0.2 General and administrative 20.6 5.9 8.1 34.6 Depreciation and amortization 179.6 — — 179.6 Total expenses 409.4 26.9 71.8 508.1 Interest expense (132.4) — (69.5) (201.9) Loss on extinguishment of debt (9.3) — — (9.3) Other loss (1.4) — (0.9) (2.3) Provision for income taxes (18.4) — (25.2) (43.6) Net income (loss) 184.9 79.7 (156.8) 107.8 Net loss attributable to noncontrolling interests 2.3 — — 2.3 Preferred dividends — — (17.2) (17.2) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 187.2 $ 79.7 $ (174.0) $ 92.9 December 31, (Dollars in millions) 2022 2021 Assets Consolidated $ 5,684.1 $ 5,473.9 Co-investment 2,387.5 2,077.9 Corporate 200.2 324.7 Total assets $ 8,271.8 $ 7,876.5 December 31, (Dollars in millions) 2022 2021 2020 Expenditures for long lived assets Investments $ (569.1) $ (1,271.0) $ (264.2) Geographic Information The revenue shown in the table below is allocated based upon the region in which services are performed. Year Ended December 31, (Dollars in millions) 2022 2021 2020 United States $ 317.5 $ 278.1 $ 277.3 Europe 222.5 175.5 176.7 Total revenue $ 540.0 $ 453.6 $ 454.0

GUARANTOR AND NON-GUARANTOR FIN

GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS	12 Months Ended
	Dec. 31, 2022
Guarantor and Nonguarantor Financial Statements [Abstract]
GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS	GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS The following consolidating financial information and condensed consolidating financial information includes: (1) Condensed consolidating balance sheets as of December 31, 2022 and 2021, respectively; consolidating statements of income for the years ended December 31, 2022, 2021 and 2020, respectively; of (a) Kennedy-Wilson Holdings, Inc. on an unconsolidated basis as the parent (and guarantor), (b) Kennedy-Wilson, Inc., as the subsidiary issuer, (c) the guarantor subsidiaries, (d) the non-guarantor subsidiaries and (e) Kennedy-Wilson Holdings, Inc. on a consolidated basis; and (2) Elimination entries necessary to consolidate Kennedy-Wilson Holdings, Inc., as the parent guarantor, with Kennedy-Wilson, Inc. and its guarantor and non-guarantor subsidiaries Kennedy Wilson owns 100% of all of the guarantor subsidiaries, and, as a result, in accordance with Rule 3-10(d) of Regulation S-X promulgated by the SEC, no separate financial statements are required for these subsidiaries as of December 31, 2022 or 2021 and for the years ended December 31, 2022, 2021 or 2020. CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2022 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 91.5 $ 59.6 $ 288.2 $ — $ 439.3 Accounts receivable — 0.1 18.2 22.5 — 40.8 Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net — — 1,656.8 3,531.3 — 5,188.1 Unconsolidated investments — 15.9 698.6 1,523.6 — 2,238.1 Investments in and advances to consolidated subsidiaries 2,009.0 4,289.3 2,850.0 — (9,148.3) — Other assets — 85.7 50.5 79.9 — 216.1 Loan purchases and originations — 5.8 111.6 32.0 — 149.4 Total assets $ 2,009.0 $ 4,488.3 $ 5,445.3 $ 5,477.5 $ (9,148.3) $ 8,271.8 Liabilities Accounts payable — 0.5 4.0 11.7 — 16.2 Accrued expenses and other liabilities 45.0 416.2 76.5 120.5 — 658.2 Mortgage debt — — 1,075.5 1,942.5 — 3,018.0 KW unsecured debt — 2,062.6 — — — 2,062.6 KWE unsecured bonds — — — 506.4 — 506.4 Total liabilities 45.0 2,479.3 1,156.0 2,581.1 — 6,261.4 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,964.0 2,009.0 4,289.3 2,850.0 (9,148.3) 1,964.0 Noncontrolling interests — — — 46.4 — 46.4 Total equity 1,964.0 2,009.0 4,289.3 2,896.4 (9,148.3) 2,010.4 Total liabilities and equity $ 2,009.0 $ 4,488.3 $ 5,445.3 $ 5,477.5 $ (9,148.3) $ 8,271.8 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2021 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 116.4 $ 69.1 $ 339.3 $ — $ 524.8 Accounts receivable — — 16.0 20.1 — 36.1 Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net — — 1,729.1 3,330.7 — 5,059.8 Unconsolidated investments — 14.8 618.0 1,314.8 — 1,947.6 Investments in and advances to consolidated subsidiaries 1,821.9 3,859.2 2,488.1 — (8,169.2) — Other assets — 65.9 51.6 60.4 — 177.9 Loan purchases and originations — 6.1 61.5 62.7 — 130.3 Total assets $ 1,821.9 $ 4,062.4 $ 5,033.4 $ 5,128.0 $ (8,169.2) $ 7,876.5 Liabilities Accounts payable $ — $ 1.0 $ 4.0 $ 13.6 $ — $ 18.6 Accrued expenses and other liabilities 44.3 387.2 78.0 109.6 — 619.1 Mortgage debt — — 1,092.2 1,867.6 — 2,959.8 KW unsecured debt — 1,852.3 — — — 1,852.3 KWE unsecured bonds — — — 622.8 622.8 Total liabilities 44.3 2,240.5 1,174.2 2,613.6 — 6,072.6 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,777.6 1,821.9 3,859.2 2,488.1 (8,169.2) 1,777.6 Noncontrolling interests — — — 26.3 — 26.3 Total equity 1,777.6 1,821.9 3,859.2 2,514.4 (8,169.2) 1,803.9 Total liabilities and equity $ 1,821.9 $ 4,062.4 $ 5,033.4 $ 5,128.0 $ (8,169.2) $ 7,876.5 CONDENSED CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2022 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Total revenue $ — $ 0.2 $ 225.1 $ 314.7 $ — $ 540.0 Total income from unconsolidated investments — 1.1 12.0 165.3 — 178.4 Gain on sale of real estate, net — — 68.1 35.6 — 103.7 Total expenses 29.0 92.7 172.5 232.6 — 526.8 Income from consolidated subsidiaries 130.8 314.4 230.7 — (675.9) — Interest expense — (92.6) (41.8) (86.4) — (220.8) Gain on early extinguishment of debt — — (1.6) 29.1 — 27.5 Other income (loss) 0.1 15.6 (1.3) 21.7 — 36.1 Income before provision from income taxes 101.9 146.0 318.7 247.4 (675.9) 138.1 Provision for income taxes — (15.2) (4.3) (16.7) — (36.2) Net income 101.9 130.8 314.4 230.7 (675.9) 101.9 Net income attributable to the noncontrolling interests — — — (8.2) — (8.2) Preferred dividends (28.9) — — — — (28.9) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 73.0 $ 130.8 $ 314.4 $ 222.5 $ (675.9) $ 64.8 CONDENSED CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2021 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Total revenues $ — $ 0.3 $ 208.8 $ 244.5 $ — $ 453.6 Income from unconsolidated investments — 3.2 99.0 286.8 — 389.0 Gain on sale of real estate, net — (1.7) 129.6 284.8 — 412.7 Total expenses 31.8 108.1 214.8 194.9 — 549.6 Income from consolidated subsidiaries 368.2 676.8 508.7 — (1,553.7) — Interest expense — (73.3) (43.3) (75.8) (192.4) Loss on early extinguishment of debt — (26.5) (0.6) (18.6) — (45.7) Other income (loss) — 0.7 (1.2) (4.5) (5.0) Income before provision for income taxes 336.4 471.4 686.2 522.3 (1,553.7) 462.6 Provision for income taxes — (103.2) (9.4) (13.6) — (126.2) Net income 336.4 368.2 676.8 508.7 (1,553.7) 336.4 Net income attributable to the noncontrolling interests — — — (6.0) — (6.0) Preferred dividends (17.2) — — — — (17.2) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 319.2 $ 368.2 $ 676.8 $ 502.7 $ (1,553.7) $ 313.2 CONDENSED CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2020 ( Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries (1) Non-guarantor Subsidiaries Elimination Consolidated Total Total revenue $ — $ — $ 218.6 $ 235.4 $ — $ 454.0 Income from unconsolidated investments — 0.6 (0.6) 81.0 — 81.0 Gain on sale of real estate, net — — 65.9 272.1 — 338.0 Total expenses 33.5 86.7 201.0 186.9 — 508.1 Income from consolidated subsidiaries 141.3 320.1 294.0 — (755.4) — Interest expense — (69.5) (48.6) (83.8) — (201.9) Loss on early extinguishment of debt — — (3.7) (5.6) — (9.3) Other income (loss) 2.0 (3.8) (0.5) — (2.3) Income before provision for income taxes 107.8 166.5 320.8 311.7 (755.4) 151.4 Provision for income taxes — (25.2) (0.7) (17.7) — (43.6) Net income 107.8 141.3 320.1 294.0 (755.4) 107.8 Net loss attributable to the noncontrolling interests — — — 2.3 — 2.3 Preferred dividends (17.2) — — — — (17.2) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 90.6 $ 141.3 $ 320.1 $ 296.3 $ (755.4) $ 92.9

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	Kennedy-Wilson Holdings, Inc. Schedule III—Real Estate and Accumulated Depreciation December 31, 2022 (Dollars in millions) Initial Cost Costs Capitalized Subsequent to Acquisition Gross Balance at December 31, 2022 (1) Description Region Encumbrances Land Building & Improvements Improvements Land Building & Improvements Total (2) Accumulated Depreciation Depreciable Life in Years Date of Construction Date Acquired (3) Commercial Office Southern California $ 35.0 $ 11.2 $ 18.5 $ 34.8 $ 11.5 $ 54.3 $ 65.8 $ (10.3) 39 years 1955/1981/1982 2013 Retail Mountain West 1.1 0.5 1.2 0.4 0.5 1.7 2.2 (0.4) 39 years 1981 2013 Retail Mountain West 3.5 2.6 5.6 1.2 2.6 6.9 9.5 (1.5) 39 years 1980/1983 2013 Retail Southern California 27.0 9.1 14.0 13.8 9.1 27.8 36.9 (4.9) 39 years 1985 2014 Commercial portfolio United Kingdom — 16.6 3.9 5.6 1.2 15.5 16.7 (3.3) 39 years Various 2014 Commercial portfolio United Kingdom 30.2 47.9 249.0 10.9 28.5 182.6 211.1 (46.9) 39 years Various 2014 Office Ireland 71.6 8.2 102.6 — 6.4 80.7 87.1 (17.1) 39 years 2003 2014 Retail Ireland 80.8 59.8 83.1 24.3 46.9 88.7 135.6 (15.8) 39 years 1966/2005 2014 Office Ireland 61.6 20.4 73.8 5.4 16.1 63.4 79.5 (14.9) 39 years 1980 2014 Office United Kingdom 173.6 85.3 232.0 26.6 74.1 204.0 278.1 (55.0) 39 years 2003 2014 Retail United Kingdom — 6.2 109.5 7.3 4.5 87.2 91.7 (19.0) 39 years 2010 2014 Office Southern California 22.4 31.8 60.6 22.1 31.8 82.6 114.4 (18.5) 39 years 1982 2015 Office Southern California 28.8 11.6 36.5 5.3 11.6 41.8 53.4 (10.3) 39 years 1968 2015 Office Southern California 35.0 20.7 47.9 26.1 20.7 53.9 74.6 (12.0) 39 years 1982 2015 Commercial portfolio United Kingdom 165.8 86.7 159.7 7.8 58.7 108.6 167.3 (21.5) 39 years Various 2015 Office portfolio United Kingdom — 19.0 41.2 17.6 20.0 41.4 61.4 (5.6) 39 years Various 2015 Retail Spain 36.9 27.1 46.2 12.7 28.4 61.1 89.5 (9.8) 39 years 1995 2015 Office portfolio Italy — 26.3 74.8 0.6 30.1 86.2 116.3 (15.4) 39 years Various 2015 Retail Mountain West 6.0 2.0 9.5 4.3 2.0 13.8 15.8 (1.8) 39 years 1961 2016 Office building Ireland — 2.0 11.9 0.2 1.9 11.7 13.6 (2.0) 39 years 2007 2016 Office portfolio United Kingdom 61.4 32.1 70.4 5.9 26.8 64.6 91.4 (11.3) 39 years Various 2016 Office Ireland 37.5 4.2 64.0 2.0 3.9 61.5 65.4 (10.2) 39 years 2009 2016 Office Pacific Northwest 77.0 30.6 106.0 3.6 30.6 109.6 140.2 (15.4) 39 years 1999/2001 2017 Office Ireland 15.9 4.9 18.5 8.0 4.4 24.8 29.2 (2.7) 39 years 1841 2017 Office Ireland 52.0 11.0 — 2.0 10.1 52.6 62.7 (1.1) 39 years 1840/2000 2017 Office Northern California 60.7 23.5 57.3 5.3 23.5 62.6 86.1 (4.8) 39 years 2000 2019 Office United Kingdom 118.1 71.2 177.9 — 62.0 155.0 217.0 (5.8) 39 years 2019 2021 Office United Kingdom 38.5 25.3 54.8 0.5 22.7 49.4 72.1 (1.3) 39 years 2001/2007 2021 Office United Kingdom 49.8 25.5 74.1 0.8 23.0 67.4 90.4 (1.7) 39 years 2004 2022 Office Ireland 51.4 0.5 3.4 49.9 0.5 59.2 59.7 (0.6) 39 years Various 2015 Multifamily 366-unit asset Mountain West 50.4 9.1 36.3 13.8 9.1 50.1 59.2 (20.9) 39 years 2000 2012 1,008-unit asset Northern California 175.0 62.3 152.5 24.9 62.3 177.4 239.7 (46.2) 39 years 1988 2015 460-unit asset Southern California 46.7 13.2 53.0 7.1 13.2 60.1 73.3 (14.9) 39 years 1988 2015 204-unit asset Mountain West 14.3 2.0 17.6 4.2 1.9 21.8 23.7 (5.3) 39 years 1999 2016 168-unit asset Mountain West 10.9 1.8 13.1 4.0 1.8 17.0 18.8 (4.3) 39 years 1992 2016 430-unit asset Pacific Northwest 61.0 12.8 67.4 5.5 12.8 72.9 85.7 (14.1) 39 years 2006 2016 386-unit asset Southern California 66.0 — 81.4 9.4 — 90.8 90.8 (18.0) 39 years 2002 2016 Land Southern California — 0.6 — — 27.9 — 27.9 — 39 years N/A 2018 300-unit asset Mountain West 39.0 4.8 29.2 6.6 4.8 35.8 40.6 (6.5) 39 years 1995 2017 210-unit asset Pacific Northwest 44.5 11.0 46.7 1.2 11.0 47.9 58.9 (6.9) 39 years 2007 2017 200-unit asset Mountain West 20.6 1.4 25.9 1.2 1.4 27.1 28.5 (4.0) 39 years 2012 2017 172-unit asset Mountain West — 0.2 — — 34.3 — 34.3 — 39 years N/A 2018 264-unit asset Pacific Northwest 24.2 6.4 44.9 5.8 6.4 50.7 57.1 (8.1) 39 years 1997 2017 343-unit asset Pacific Northwest 84.0 26.8 107.4 1.1 26.8 108.5 135.3 (14.4) 39 years 2016 2017 179-unit asset Pacific Northwest 33.2 11.9 47.4 1.9 11.9 49.4 61.3 (6.8) 39 years 2013 2017 88-unit asset Mountain West 8.6 2.6 10.4 1.8 2.6 12.2 14.8 (2.2) 39 years 1988 2018 492-unit asset Mountain West 59.1 15.8 63.2 7.9 15.9 71.1 87.0 (11.3) 39 years 1985 2018 66-unit asset Mountain West 8.0 0.8 — — 0.7 9.2 9.9 (0.5) 39 years 2021 2018 89-unit asset Mountain West 10.2 2.1 — — 2.0 21.0 23.0 (0.2) 39 years N/A 2018 293-unit asset Mountain West 19.9 7.2 28.8 1.1 7.2 29.9 37.1 (3.8) 39 years 1995 2018 188-unit asset Mountain West 13.5 4.9 19.7 7.9 4.9 27.5 32.4 (4.7) 39 years 1985 2018 120-unit asset Mountain West 32.3 5.7 — 0.4 1.9 38.1 40.0 (2.2) 39 years 2021 2018 277-unit asset Mountain West 62.2 4.0 — 6.9 2.7 55.3 58.0 (3.8) 39 years 2021 2019 10-unit asset Mountain West — — — — — 2.3 2.3 (0.1) 39 years 2021 2019 360-unit asset Mountain West 70.0 16.4 65.7 1.9 16.4 67.6 84.0 (5.4) 39 years 2015 2019 260-unit asset Mountain West 39.4 13.4 53.6 2.9 13.4 56.6 70.0 (3.4) 39 years 2014 2020 280-unit asset Mountain West 39.6 13.3 53.2 0.2 13.3 53.4 66.7 (2.3) 39 years 2019 2021 Land Mountain West — — — — 1.0 — 1.0 — 39 years N/A 2021 344-unit asset Mountain West 39.2 13.0 52.1 4.0 13.0 56.1 69.1 (2.3) 39 years 1985 2021 Land Mountain West 16.6 4.6 — — 36.4 — 36.4 — 39 years N/A 2021 240-unit asset Mountain West 45.1 11.1 44.3 1.0 11.1 45.8 56.9 (1.8) 39 years 2020 2021 160-unit asset Mountain West 13.9 4.5 17.9 0.3 4.5 18.3 22.8 (0.7) 39 years 1990/1998 2021 332-unit asset Mountain West 76.2 26.7 106.9 2.2 26.7 109.0 135.7 (3.6) 39 years 2002 2021 383-unit asset Pacific Northwest 115.0 38.3 153.0 3.0 38.2 156.1 194.3 (5.1) 39 years 2002/2008 2021 164-unit asset Pacific Northwest 43.0 14.8 59.2 0.1 14.8 59.3 74.1 (1.9) 39 years 2020 2021 528-unit asset Mountain West 102.0 31.1 124.4 2.9 31.1 127.3 158.4 (3.4) 39 years 1989/1990 2021 Land Mountain West 7.8 8.0 — — 22.4 — 22.4 — 39 years N/A 2021 350-unit asset Mountain West 64.9 33.2 132.6 0.9 33.2 133.5 166.7 (2.3) 39 years 1985 2022 404-unit asset Mountain West 61.6 29.6 118.3 0.4 29.6 118.7 148.3 (2.0) 39 years 1996 2022 356-unit asset Mountain West 41.0 20.8 83.1 1.0 20.8 84.1 104.9 (1.5) 39 years 1995/2008 2022 260-unit asset Mountain West 34.0 15.7 62.6 0.3 15.7 62.9 78.6 (0.6) 39 years 2013 2022 Hotel Hotel Ireland — 54.0 114.3 33.4 44.5 129.8 174.3 (40.7) 39 years 1824/2005 2014 Development Retail Spain — — 34.7 16.3 — 48.4 48.4 — N/A N/A 2015 Retail Spain — — 13.8 — — 13.2 13.2 — N/A N/A 2017 Land United Kingdom 4.2 — 0.1 3.6 0.4 4.0 — N/A N/A 2018 Office Ireland — 1.2 0.9 0.9 1.2 0.9 2.1 — N/A N/A 2020 Multifamily Southern California — 6.0 — 4.0 6.0 4.0 10.0 — N/A N/A 2015 Office Ireland — — 9.6 — — 9.6 9.6 (0.1) 39 years 1980 2022 2700 acres Hawaii — 31.7 3.7 0.7 28.2 4.4 32.6 (2.4) N/A 1912 2010 3 Lots Hawaii — 16.5 — — 16.5 — 16.5 — N/A N/A 2020 Grand Total $ 3,034.5 $ 1,339.3 $ 4,156.7 $ 494.2 $ 1,319.2 $ 4,456.1 $ 5,775.3 $ (619.6) (1) The tax basis of all the properties in aggregate totaled $4,844.5 million. (2) Excludes acquired in place lease values. (3) For assets that were consolidated the date acquired represents when the asset was presented as real estate not when initially acquired by Kennedy Wilson. Changes in real estate for the years ended December 31, 2022, 2021 and 2020 were as follows: For the year ended December 31, (Dollars in millions) 2022 2021 2020 Balance at the beginning of period $ 5,567.3 $ 5,207.7 $ 5,430.5 Additions during the period: Other acquisitions 167.6 137.3 183.0 Improvements 604.2 1,110.4 108.4 Foreign currency (226.0) (91.8) 129.9 Deductions during the period: Cost of real estate sold (337.8) (796.3) (644.1) Balance at close of period $ 5,775.3 $ 5,567.3 $ 5,207.7 Changes in accumulated depreciation for the years ended December 31, 2022, 2021 and 2020 were as follows: For the year ended December 31, (Dollars in millions) 2022 2021 2020 Balance at the beginning of period $ 564.0 $ 551.8 $ 466.8 Additions during the period: Depreciation expense 133.8 30.9 121.5 Deductions during the period: Dispositions (50.8) (11.1) (54.5) Foreign currency (27.4) (7.6) 18.0 Balance at close of period $ 619.6 $ 564.0 $ 551.8 See accompanying report of independent registered public accounting firm.

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION — The consolidated financial statements include the accounts of Kennedy Wilson and voting interest entities which it controls. All intercompany balances and transactions have been eliminated in consolidation. In addition, Kennedy Wilson evaluates its relationships with other entities to identify whether they are variable interest entities ("VIE") as defined by Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Subtopic 810 , Consolidation, and to assess whether it is the primary beneficiary of such entities. In determining whether Kennedy Wilson is the primary beneficiary of a VIE, qualitative and quantitative factors are considered, including, but not limited to: the amount and characteristics of Kennedy Wilson's investment; the obligation or likelihood for Kennedy Wilson to provide financial support; Kennedy Wilson's ability to control or significantly influence key decisions for the VIE; and the similarity with and significance to the business activities of Kennedy Wilson. The Company determines the appropriate accounting method with respect to all investments that are not VIEs based on the control-based framework (controlled entities are consolidated) provided by the consolidation guidance in ASC Subtopic 810. The Company accounts for joint ventures where it is deemed that the Company does not have control through the equity method of accounting while joint ventures that the Company controls are consolidated in Kennedy Wilson's financial statements.
USE OF ESTIMATES	USE OF ESTIMATES — The preparation of the accompanying consolidated financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosure about contingent assets and liabilities, and reported amounts of revenues and expenses. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. Management adjusts such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in those estimates will be reflected in the financial statements in future periods.
REVENUE RECOGNITION	REVENUE RECOGNITION — Revenue consists of rental and hotel income, management fees, leasing and commission fees, loan interest income and sales of real estate. ASC Topic 606, Revenue from Contracts with Customers , is a five step model to recognize revenue from customer contracts. The model identifies the contract, any separate performance obligations in the contract, determines the transaction price, allocates the transaction price and recognizes revenue when the performance obligations are satisfied. Management has concluded that, with the exception of performance allocations, the nature of the Company's revenue streams is such that the requirements are generally satisfied at the time that the fee becomes receivable. Rental income from operating leases is generally recognized on a straight-line basis over the terms of the leases in accordance with ASC Topic 842, Leases . Hotel income is earned when rooms are occupied or goods and services have been delivered or rendered. Management fees are primarily comprised of investment management and property services fees. Investment management fees are earned from limited partners of funds, co-investments, or separate accounts and are generally based on a fixed percentage of committed capital or net asset value. Property services fees are earned for managing the operations of real estate assets and are generally based on a fixed percentage of the revenues generated from the respective real estate assets. The Company sold its property services group ("Property Services") in the fourth quarter 2020 with the sale of KWP (as further discussed in Note 10 - Related Party Transactions) and will have minimal property services fees going forward from its auction sales and marketing business. The Company provides investment management and property services on investments it also has an ownership interest in. Fees earned on consolidated properties are eliminated in consolidation and fees on unconsolidated investments are eliminated for the portion that relate to the Company's ownership interest. Commissions primarily consist of acquisition and disposition fees, auction and consulting fees and, prior to the sale of Property Services, also consisted of real estate sales commissions, and leasing commissions. Acquisition and disposition fees are earned for identifying and closing investments on behalf of investors and are based on a fixed percentage of the acquisition or disposition price, as applicable. Acquisition and disposition fees are recognized upon the successful completion of an acquisition or disposition after all required services have been performed. In the case of auction and real estate sales commissions, the revenue is generally recognized when escrow closes. In accordance with the guidelines established for Reporting Revenue Gross as a Principal versus Net as an Agent in the ASC Topic 606, Kennedy Wilson records commission revenues and expenses on a gross basis. Of the criteria listed in ASC Topic 606, Kennedy Wilson is the primary obligor in the transaction, does not have inventory risk, performs all or part of the service, has credit risk, and has wide latitude in establishing the price of services rendered and discretion in selection of agents and determination of service specifications. Leasing fees that are payable upon tenant occupancy, payment of rent or other events beyond Kennedy Wilson's control are recognized upon the occurrence of such events. Interest income from investments in performing loans which Kennedy Wilson originates or acquires are recognized at the stated interest rate plus any amortization of premiums/discounts or fees earned on the loans. Interest income from investments in loans acquired at a discount are recognized using the effective interest method. When a loan or loans are acquired with deteriorated credit quality primarily for the rewards of collateral ownership, such loans are accounted for as loans until Kennedy Wilson is in possession of the collateral. However, accrual of income is not recorded during the conversion period under ASC Subtopic 310-30-25, Receivables - Loans and Debt Securities Acquired with Deteriorated Credit Quality . Income is recognized to the extent that cash is received from the loan. Sales of real estate are recognized when title to the real property passes to the buyer and there is no continuing involvement in the real property. Under ASC Subtopic 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets
REAL ESTATE ACQUISITIONS	REAL ESTATE ACQUISITIONS — The purchase price of acquired properties is recorded to land, buildings and building improvements and intangible lease value (value of above-market and below-market leases, acquired in-place lease values, and tenant relationships, if any). The ownership of the other interest holders in consolidated subsidiaries is reflected as noncontrolling interests ("NCI"). Real estate is recorded based on cumulative costs incurred and allocated based on relative fair value. Acquisition fees and expenses associated with the acquisition of properties determined to be business combinations are expensed as incurred. Acquisition fees and expenses associated with transactions determined to be asset acquisitions are capitalized as part of the real estate acquired. The valuations of real estate are based on management estimates of the real estate assets using income and market approaches. The indebtedness securing the real estate is valued, in part, based on third party valuations and management estimates also using an income approach. The Company is involved in all stages of real estate ownership, including development. Once a project is in development, consistent with ASC 360 Property Plant, and Equipment
UNCONSOLIDATED INVESTMENTS	UNCONSOLIDATED INVESTMENTS — Kennedy Wilson has a number of joint venture interests that were formed to acquire, manage, and/or sell real estate. Investments in unconsolidated investments are accounted for under the equity method of accounting as Kennedy Wilson can exercise significant influence, but does not have the ability to control the unconsolidated investment. An investment in an unconsolidated investment is recorded at its initial investment and is increased or decreased by Kennedy Wilson’s share of income or loss, plus additional contributions and less distributions. A decline in the value of an unconsolidated investment that is other than temporary is recognized when evidence indicates that such a decline has occurred in accordance with ASC Topic 323, Investments - Equity Method and Joint Ventures . Kennedy Wilson elected the fair value option for 67 investments in unconsolidated investment entities ("FV Option" investments). Due to the nature of these investments, Kennedy Wilson elected to record these investments at fair value in order to report the change in value in the underlying investments in the results of its current operations. Additionally, Kennedy Wilson records its investments in certain commingled funds it manages and sponsors (the "Funds") that are investment companies under the ASC Topic 946, Financial Services - Investment Companies , based upon the net assets that would be allocated to its interests in the Funds assuming the Funds were to liquidate their investments at fair value as of the reporting date. Thus, the Funds reflect their investments at fair value, with unrealized gains and losses resulting from changes in fair value reflected in their earnings. Performance allocations or carried interest are allocated to the general partner, special limited partner or asset manager of Kennedy Wilson's real estate funds based on the cumulative performance of the fund and are subject to preferred return thresholds of the limited partners. At the end of each reporting period, Kennedy Wilson calculates the performance allocation that would be due as if the fair value of the underlying investments were realized as of such date, irrespective of whether such amounts have been realized. As the fair value of underlying investments varies between reporting periods, it is necessary to make adjustments to amounts recorded as performance allocation to reflect either (a) positive performance resulting in an increase in the performance allocation to the general partner or asset manager or (b) negative performance that would cause the amount due to Kennedy Wilson to be less than the amount previously recognized as income from unconsolidated investments, resulting in a negative adjustment to performance allocations to the general partner or asset manager. As of December 31, 2022, the Company has $141.6 million of accrued performance allocations recorded to unconsolidated investments that are subject to future adjustments based on the underlying performance of investments. During the year ended December 31, 2022 and 2021 the Company collected $6.8 million and $9.6 million of performance allocations. There were no collections of performance allocations during the year ended December 31, 2020. The Company has concluded that performance allocations to the Company, based on cumulative performance to-date, represent carried interests. For equity method investments, these allocations are included as a component of the income reported from the underlying equity method investee and for equity method investments where the fair value option has been elected, these allocations are included in the determination of fair value under ASC Topic 820, Fair Value Measurement
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS — Kennedy Wilson accounts for fair value measurements of financial assets and financial liabilities and for fair value measurements of non-financial items that are recognized or disclosed at fair value in the financial statements on a recurring basis under the provisions of ASC Topic 820 .
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS — The estimated fair value of financial instruments is determined using available market information and appropriate valuation methodologies. Considerable judgment, is necessary, however, to interpret market data and develop the related estimates of fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts that could be realized upon disposition of the financial instruments. The use of different market assumptions or estimation methodologies may have a material impact on the estimated fair value amounts.
DISTRIBUTIONS FROM UNCONSOLIDATED INVESTMENTS	DISTRIBUTIONS FROM UNCONSOLIDATED INVESTMENTS — The Company utilizes the nature of distributions approach and distributions are reported under operating cash flow unless the facts and circumstances of a specific distribution clearly indicate that it is a return of capital (e.g., a liquidating dividend or distribution of the proceeds from unconsolidated investments' sale of assets), in which case it is reported as an investing activity.  This enables Kennedy Wilson to look to the nature and source of the distribution received and classify it appropriately between operating and investing activities on the statement of cash flows based upon the source.
FOREIGN CURRENCIES	FOREIGN CURRENCIES — The financial statements of Kennedy Wilson's subsidiaries located outside the United States are measured using the local currency as this is their functional currency. The assets and liabilities of these subsidiaries are translated at the rates of exchange at the balance sheet date, and income and expenses are translated at the average monthly rate. The foreign currencies include the euro and the British pound sterling. Cumulative translation adjustments, to the extent not included in cumulative net income, are included in the consolidated statement of equity as a component of accumulated other comprehensive income. Investment level debt is generally incurred in local currencies. Fluctuations in foreign exchanges rates may have a significant impact on the results of the Company's operations. In order to manage the effect of these fluctuations, the Company enters into hedging transactions, in the form of currency derivative contracts, that are designed to reduce its book equity exposure to foreign currencies. KWE has also entered into currency derivative contracts to manage its exposure to euro to British pound currency fluctuations.
DERIVATIVE INSTRUMENTS AND HEDING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES — Kennedy Wilson has derivatives to reduce its exposure to foreign currencies. All derivative instruments are recognized as either assets or liabilities in the balance sheet at their respective fair values. For derivatives designated in hedging relationships, changes in fair value of cash flow hedges or net investment hedges are recognized in accumulated other comprehensive income, to the extent the derivative is effective at offsetting the changes in the item being hedged until the hedged item affects earnings. Fluctuations in foreign exchanges rates may have a significant impact on the Company's results of operations. In order to manage the potential exposure from adverse changes in foreign exchange rates arising from the Company’s net investments in foreign operations, the Company may enter into currency derivative contracts to hedge all or portions of the net investments in the Company’s non-U.S. dollar denominated foreign operations.
GOODWILL	GOODWILL — Goodwill results from the difference between the purchase price and the fair value of net assets acquired based upon the purchase method of accounting for business combinations. In accordance with ASC Subtopic 350-20, Accounting for Intangibles - Goodwill and Other
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS — Cash and cash equivalents consist of cash and all highly liquid investments purchased with maturities of three months or less. Cash and cash equivalents are invested in institutions insured by government agencies. Certain accounts contain balances in excess of the insured limits. Kennedy Wilson's operations and financial position are affected by fluctuations in currency exchange rates between the euro and British pound sterling against the U.S. Dollar. As of December 31, 2022, 2021, and 2020 we have $21.4 million, $24.2 million, and $101.7 million, respectively, of restricted cash, which is included in cash and cash equivalents, that primarily relates to lender reserves associated with consolidated mortgages that we hold on properties as well as escrow deposits associated with acquisitions and dispositions.  These reserves typically relate to interest, tax, insurance and future capital expenditures at the properties.
LONG-LIVED ASSETS	LONG-LIVED ASSETS — Kennedy Wilson reviews its long-lived assets (excluding goodwill) whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable in accordance with ASC Subtopic 360-10, Property, Plant and Equipment
ACCOUNTS RECEIVABLE	ACCOUNTS RECEIVABLE — Accounts receivable are recorded at the contractual amount as determined by the underlying agreements and do not bear interest. The Company recognizes revenue to the extent that amounts are probable that substantially all rental income will be collected.
CONCENTRATION OF CREDIT RISK	CONCENTRATION OF CREDIT RISK — Financial instruments that subject Kennedy Wilson to credit risk consist primarily of accounts and notes receivable, cash equivalents and derivative instruments. Credit risk is generally diversified due to the large number of entities composing Kennedy Wilson’s customer base and their geographic dispersion throughout the United States, the United Kingdom, Ireland, Spain and Italy. Kennedy Wilson performs ongoing credit evaluations of its customers and debtors.
EARNINGS PER SHARE	EARNINGS PER SHARE — Basic earnings per share is computed based upon the weighted average number of shares of common stock outstanding during the periods presented. Diluted earnings per share is computed based upon the weighted average number of shares of common stock and potentially dilutive securities outstanding during the periods presented. The dilutive impact of potentially dilutive securities including convertible securities, and unvested stock which were outstanding during the period. Unvested stock are calculated by the “treasury stock” method and the convertible securities under the "if converted" method.
COMPREHENSIVE INCOME (LOSS)	COMPREHENSIVE INCOME (LOSS) — Comprehensive income (loss) consists of net income (loss) and other comprehensive income (loss). In the accompanying consolidated balance sheets, accumulated other comprehensive income consists of foreign currency translation adjustments and unrealized gains (losses) on derivative instruments.
REPURCHASE OF EQUITY INSTRUMENTS	REPURCHASE OF EQUITY INSTRUMENTS — Upon the decision to retire repurchased equity instruments, Kennedy Wilson records the retirement as a reduction to additional paid in capital for the amount that shares were initially issued at with the excess paid recorded to retained earnings.
SHARE-BASED PAYMENT ARRANGEMENTS	SHARE-BASED PAYMENT ARRANGEMENTS — Kennedy Wilson accounts for its share-based payment arrangements under the provisions of ASC Subtopic 718-10, Compensation - Stock Compensation. Compensation cost for employee service received in exchange for an award of equity instruments is based on the grant-date fair value of the share-based award that is ultimately settled in equity of Kennedy Wilson. The cost of employee services is recognized over the period during which an employee provides service in exchange for the share-based payment award. Share-based payment arrangements with only services conditions that vest ratably over the requisite service period are recognized on the straight-line basis and performance awards that vest ratably are recognized on a tranche by tranche basis over the performance period.
INCOME TAXES	INCOME TAXES — Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In accordance with accounting for uncertainty in ASC Subtopic 740-10, Income Taxes, Kennedy Wilson recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Kennedy Wilson records interest related to unrecognized tax benefits in interest expense and penalties in general and administrative expenses on the consolidated statements of income.
NONCONTROLLING INTERESTS	NONCONTROLLING INTERESTS — Noncontrolling interests are reported within equity as a separate component of Kennedy Wilson's equity in accordance with ASC Subtopic 810-10. Revenues, expenses, gains, losses, net income or loss, and other comprehensive income are reported in the consolidated statements of income at the consolidated amounts and net income and comprehensive income attributable to noncontrolling interests are separately stated.
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS In August 2020, the FASB issued Accounting Standards Update (“ASU”) 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) to simplify accounting for certain financial instruments. ASU 2020-06 eliminates the current models that require separation of beneficial conversion and cash conversion features from convertible instruments and simplifies the derivative scope exception guidance pertaining to equity classification of contracts in an entity’s own equity. The new standard also introduces additional disclosures for convertible debt and freestanding instruments that are indexed to and settled in an entity’s own equity. ASU 2020-06 amends the diluted earnings per share guidance, including the requirement to use the if-converted method for all convertible instruments. The Company adopted ASU 2020-06 and the effect of the adoption of the ASU did not impact the Company’s financial statements. In June 2016, the FASB updated ASC Topic 326, Financial Instruments - Credit Losses with ASU 2016-13, Measurement of Credit Losses on Financial Instruments . ASU 2016-13 enhances the methodology of measuring expected credit losses to include the use of forward-looking information to better inform credit loss estimates. This ASU is effective for all entities for annual and interim periods in fiscal years beginning after December 15, 2019. In addition, in November 2018 the FASB issued ASU 2018-19, which clarifies that receivables arising from operating leases are not within the scope of the credit losses standard, but rather, should be accounted for in accordance with ASC Topic 842. The Company adopted this standard on January 1, 2020 and the adoption of this standard did not have a material impact on Kennedy Wilson's consolidated financial statements. During the course of 2020 the Company has launched a debt platform originating and acquiring performing loans. As of December 31, 2022, the Company has $149.4 million of investments in loan originations and acquisitions. The Company's current loans are performing and backed by credit worthy borrowers and although the Company does not expect significant credit losses, it will monitor and evaluate loans in accordance with ASU 2016-13. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848)

REAL ESTATE AND ACQUIRED IN P_2

REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE (Tables)	12 Months Ended
	Dec. 31, 2022
Real Estate [Abstract]
Schedule of Investments in Consolidated Properties	The following table summarizes the Company's investment in consolidated real estate properties at December 31, 2022 and 2021: December 31, (Dollars in millions) 2022 2021 Land $ 1,319.2 $ 1,277.6 Buildings 3,961.9 3,744.1 Building improvements 494.2 545.6 Acquired in-place lease values 295.0 330.6 6,070.3 5,897.9 Less accumulated depreciation and amortization (882.2) (838.1) Real estate and acquired in place lease values, net of accumulated depreciation and amortization $ 5,188.1 $ 5,059.8 (Dollars in millions) Gain on sale of real estate Year ended December 31, Description Consolidated NCI Net of NCI 2022 Primarily due to the sale of a 49% equity interest in a multifamily property in Western United States that was previously wholly-owned and controlled by the Company and the sale of a wholly-owned office property in the United Kingdom $ 103.7 $ (1.0) $ 102.7 2021 Primarily due to the sale of a 49% equity interest in nine multifamily properties in Western United States that were previously wholly-owned and controlled by the Company and the sale of 19 office properties in the United Kingdom, one multifamily property in Western United States, three retail properties in Western United States and an office property in Western United States 412.7 (5.4) 407.3 2020 20 industrial properties (including the deconsolidation of previously consolidated real estate as discussed below), 19 retail properties, three office properties, and one multifamily property in United Kingdom, two multifamily properties and two office properties in Ireland, one retail property in Spain, and one multifamily property in the Western United States. 338.0 (0.6) 337.4
Schedule of Business Acquisitions	During the year ended December 31, 2022, Kennedy Wilson acquired the following consolidated properties which were treated as asset acquisitions: (Dollars in millions) Purchase Price Allocation at Acquisition (1) Location Description Land Building Acquired in-place lease values (2) Investment debt KWH Shareholders' Equity Western U.S. Four multifamily properties $ 99.2 $ 396.6 $ 1.4 $ 203.4 $ 293.8 United Kingdom Office building 25.5 74.1 6.9 — 106.5 $ 124.7 $ 470.7 $ 8.3 $ 203.4 $ 400.3 (1) Excludes net other assets. (2) Above- and below-market leases are included in other assets and accrued expenses and other liabilities, respectively, on the accompanying consolidated balance sheets. During the year ended December 31, 2021, Kennedy Wilson acquired the following consolidated properties which were treated as asset acquisitions: (Dollars in millions) Purchase Price Allocation at Acquisition (1) Location Description Land Building Acquired in-place lease values (2) Investment debt KWH Shareholders' Equity Western U.S. Ten multifamily properties $ 166.1 $ 610.9 $ 2.3 $ 469.1 $ 310.2 United Kingdom Two commercial properties 95.9 231.3 22.3 — 349.5 $ 262.0 $ 842.2 $ 24.6 $ 469.1 $ 659.7 (1) Excludes net other assets. (2) Above- and below-market leases are included in other assets and accrued expenses and other liabilities, respectively, on the accompanying consolidated balance sheets.
Lessor, Operating Lease, Payments to be Received, Maturity	The following table summarizes the minimum lease payments due from the Company's tenants on leases with lease periods greater than one year at December 31, 2022: (Dollars in millions) Minimum Rental Revenues (1) 2023 $ 144.2 2024 127.9 2025 112.8 2026 95.6 2027 76.6 Thereafter 232.6 Total $ 789.7 (1) These amounts do not reflect future rental revenues from the renewal or replacement of existing leases, rental increases that are not fixed and exclude reimbursements of rental expenses.

UNCONSOLIDATED INVESTMENTS (Tab

UNCONSOLIDATED INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Joint Ventures by Investment Type and Geographic Location	The following table details Kennedy Wilson's investments in joint ventures by investment type and geographic location as of December 31, 2022: (Dollars in millions) Multifamily Commercial Hotel Funds Residential and Other Total Western U.S. $ 857.6 $ 89.2 $ 195.9 $ 158.3 $ 169.1 $ 1,470.1 Ireland 378.1 176.7 — 8.0 — 562.8 United Kingdom — 138.7 — 36.3 30.2 205.2 Total $ 1,235.7 $ 404.6 $ 195.9 $ 202.6 $ 199.3 $ 2,238.1 The following table details the Kennedy Wilson's investments in joint ventures by investment type and geographic location as of December 31, 2021: (Dollars in millions) Multifamily Commercial Hotel Funds Residential and Other Total Western U.S. $ 592.1 $ 81.0 $ 131.0 $ 189.2 $ 179.6 $ 1,172.9 Ireland 389.5 141.1 — 3.1 — 533.7 United Kingdom — 169.3 — 42.9 28.8 241.0 Total $ 981.6 $ 391.4 $ 131.0 $ 235.2 $ 208.4 $ 1,947.6 VHH MF Seed Portfolio December 31, December 31, (Dollars in millions) 2022 2021 2022 2021 Cash and cash equivalents $ 37.0 $ 31.9 $ 12.4 $ 10.9 Accounts receivable 4.4 4.9 2.0 2.4 Real estate 1,802.7 1,553.3 970.5 943.5 Other 2.0 — 1.1 1.5 Total assets $ 1,846.1 $ 1,590.1 $ 986.0 $ 958.3 Liabilities Accounts payable and accrued expenses $ 17.6 $ 19.9 $ 5.4 $ 5.2 Mortgage debt 1,180.6 1,188.6 448.7 457.0 Total liabilities 1198.2 1,208.5 454.1 462.2 Equity Kennedy Wilson - investment in unconsolidated investment 271.8 157.9 291.9 268.6 Partners 376.1 223.7 240.0 227.5 Total equity 647.9 381.6 531.9 496.1 Total liabilities and equity $ 1,846.1 $ 1,590.1 $ 986.0 $ 958.3 VHH MF Seed Portfolio (Dollars in millions) Year Ended December 31, Year Ended December 31, 2022 2021 2020 2022 2021 Rental income $ 131.0 $ 114.7 $ 102.1 $ 64.8 $ 31.6 Unrealized fair value gains 270.7 77.4 31.3 56.1 140.6 Rental expenses (41.0) (34.8) (31.4) (21.1) (8.5) Interest expense (45.6) (37.5) (31.8) (17.6) (8.2) Other expense — (0.1) (0.9) (4.1) (11.8) Net income 315.1 119.7 69.3 78.1 143.7 Income attributable to partner (195.3) (78.3) (46.5) (33.0) (54.8) Income from unconsolidated investment $ 119.8 $ 41.4 $ 22.8 $ 45.1 $ 88.9
Schedule of Cash Distributions by Investment Type and Geographic Location	The following table details cash distributions by investment type and geographic location for the year ended December 31, 2022: Multifamily Commercial Funds Residential and Other Total (Dollars in millions) Operating Investing Operating Investing Operating Investing Operating Investing Operating Investing Western U.S. $ 38.8 $ 66.6 $ 11.2 $ 0.2 $ 10.2 $ 10.7 $ 0.2 $ 23.5 $ 60.4 $ 101.0 Ireland 8.0 38.6 7.3 — — 4.9 — — 15.3 43.5 United Kingdom — — 1.7 1.3 — — 0.7 11.3 2.4 12.6 Total $ 46.8 $ 105.2 $ 20.2 $ 1.5 $ 10.2 $ 15.6 $ 0.9 $ 34.8 $ 78.1 $ 157.1
Schedule of Income (Loss) from Unconsolidated Investments	The following table presents income from unconsolidated investments recognized by Kennedy Wilson during the years ended December 31, 2022, 2021 and 2020: Year Ended December 31, (Dollars in millions) 2022 2021 2020 Income from unconsolidated investments - operating performance $ 80.2 $ 60.7 $ 43.4 Income from unconsolidated investments - realized gains from cost basis investments 4.7 — — Income from unconsolidated investments - unrealized and realized fair value gains 114.6 213.5 47.2 Income from unconsolidated investments - realized losses and impairment — (3.1) (12.3) Principal co-investments 199.5 271.1 78.3 (Loss) income from unconsolidated investments - performance allocation (21.1) 117.9 2.7 $ 178.4 $ 389.0 $ 81.0

FAIR VALUE MEASUREMENTS AND T_2

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements	The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of December 31, 2022: (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 2,093.7 $ 2,093.7 Net currency derivative contracts — 7.0 — 7.0 Total $ — $ 7.0 $ 2,093.7 $ 2,100.7 The following table presents fair value measurements (including items that are required to be measured at fair value and items for which the fair value option has been elected) as of December 31, 2021: (Dollars in millions) Level 1 Level 2 Level 3 Total Unconsolidated investments $ — $ — $ 1,794.8 $ 1,794.8 Net currency derivative contracts — 8.5 — 8.5 Total $ — $ 8.5 $ 1,794.8 $ 1,803.3
Schedule of Investments in Joint Ventures Held at Fair Value	The following table summarizes the Company's investments in unconsolidated investments held at fair value by type: (Dollars in millions) December 31, 2022 December 31, 2021 FV Option $ 1,891.1 $ 1,568.5 Funds 202.6 226.3 Total $ 2,093.7 $ 1,794.8
Schedule of Changes in Level 3 Investments	The following table presents changes in Level 3 investments, investments in investment companies and investments in joint ventures that elected the fair value option, for the years ended December 31: (Dollars in millions) 2022 2021 2020 Beginning balance $ 1,794.8 $ 1,136.5 $ 1,099.3 Unrealized and realized gains, including performance allocations 274.4 390.0 109.8 Unrealized and realized losses (114.1) (5.0) (13.5) Contributions 348.1 273.8 109.2 Distributions (188.9) (144.3) (189.7) Foreign exchange (55.8) (28.4) 24.5 Other 35.2 172.2 (3.1) Ending balance $ 2,093.7 $ 1,794.8 $ 1,136.5
Schedule of the Funds and Fair Value Option Investments, Significant Inputs	The table below describes the range of inputs used as of December 31, 2022 for real estate assets: Estimated Rates Used For Capitalization Rates Discount Rates Multifamily Income approach - discounted cash flow 5.80% — 7.50% 8.00% — 9.80% Income approach - direct capitalization 3.80% — 5.70% N/A Office Income approach - discounted cash flow 5.20% — 7.50% 7.50% — 9.30% Income approach - direct capitalization 4.20% — 8.70% N/A Industrial Income approach - discounted cash flow 5.00% —6.30% 6.30% — 7.80% Income approach - direct capitalization 3.80% — 8.30% N/A Retail Income approach - discounted cash flow 6.50% 8.30% Hotel Income approach - discounted cash flow 6.00% 8.30%
Schedule of Currency Forward Contracts	The table below details the currency forward contracts and currency option contracts Kennedy Wilson had as of December 31, 2022: (Dollars in millions) December 31, 2022 Year Ended December 31, 2022 Currency Hedged Underlying Currency Notional Hedge Asset Hedge Liability Change in Unrealized Gains Realized Gains Interest Expense Cash Paid Outstanding EUR USD € 287.5 $ 5.2 $ 12.7 $ (0.6) $ (8.7) $ 1.8 $ — EUR (1) GBP € 40.0 0.8 — 0.8 — — — EUR (1)(2) GBP — — (28.3) — — — GBP USD £ 545.0 28.3 14.6 10.8 2.2 1.8 — Total Outstanding 34.3 27.3 (17.3) (6.5) 3.6 — Settled EUR GBP — — 1.1 24.4 2.7 31.9 GBP USD — — 55.7 — 1.8 63.4 Total Settled — — 56.8 24.4 4.5 95.3 Total $ 34.3 $ 27.3 $ 39.5 (3) $ 17.9 $ 8.1 $ 95.3 (1) Hedge is held by KWE on its wholly-owned subsidiaries. (2) Relates to KWE's Euro Medium Term Note. See discussion in Note 9. (3) Excludes deferred tax expense of $16.1 million.

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Assets	Other assets consist of the following: December 31, (Dollars in millions) 2022 2021 Straight line rent receivable $ 42.2 $ 44.3 Interest rate caps and swaps 41.0 2.3 Hedge assets 34.3 24.5 Goodwill 23.9 23.9 Other 13.7 13.0 Furniture and equipment net of accumulated depreciation of $29.4 and $27.4 at December 31, 2022 and 2021, respectively 13.4 17.6 Prepaid expenses 12.7 13.3 Right of use asset, net 12.2 10.0 Leasing commissions, net of accumulated amortization of $11.1 and $9.7 at December 31, 2022 and 2021, respectively 9.4 8.0 Deferred taxes, net 9.4 12.6 Above-market leases, net of accumulated amortization of $53.0 and $60.4 at December 31, 2022 and 2021, respectively 3.9 8.4 Other Assets $ 216.1 $ 177.9
Lessee, Operating Lease, Liability, Maturity	The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted to calculate the right of use asset and related lease liability for its operating leases in which we are the lessee: (Dollars in millions) Minimum Rental Payments 2023 $ 1.1 2024 1.0 2025 1.4 2026 1.3 2027 1.3 Thereafter 33.8 Total undiscounted rental payments 39.9 Less imputed interest (27.7) Total lease liabilities $ 12.2

MORTGAGE DEBT (Tables)

MORTGAGE DEBT (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Mortgage Loans Payable	The following table details mortgage debt secured by Kennedy Wilson's consolidated properties as of December 31, 2022 and 2021: (Dollars in millions) Carrying amount of mortgage debt as of December 31, (1) Mortgage Debt by Product Type Region 2022 2021 Multifamily (1) Western U.S. $ 1,692.9 $ 1,493.1 Commercial (1) United Kingdom 637.4 683.8 Commercial Western U.S. 296.6 351.0 Commercial (1) Ireland 370.7 327.3 Hotel Ireland — 82.0 Commercial Spain 36.9 40.4 Mortgage debt (excluding loan fees) (1) 3,034.5 2,977.6 Unamortized loan fees (16.5) (17.8) Total Mortgage Debt $ 3,018.0 $ 2,959.8 (1) The mortgage debt payable balances include unamortized debt discount or premiums. Debt discount or premiums represent the difference between the fair value of debt and the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The net unamortized loan discount as of December 31, 2022 was $0.6 million and the unamortized debt premium as of December 31, 2021 was $2.5 million.
Schedule of Maturities of Mortgage Loans and Notes Payable	The aggregate maturities of mortgage loans subsequent to December 31, 2022 are as follows: (Dollars in millions) Aggregate Maturities 2023 (1) $ 247.9 2024 186.2 2025 359.9 2026 573.4 2027 378.1 Thereafter 1,289.6 3,035.1 Unamortized debt discount (0.6) Unamortized loan fees (16.5) Total Mortgage Debt $ 3,018.0 (1) The Company expects to repay the amounts maturing in the next twelve months with new mortgage loans, cash generated from operations, existing cash balances, proceeds from dispositions of real estate investments, or as necessary, with borrowings on the Company's Second A&R Facility.

KW UNSECURED DEBT (Tables)

KW UNSECURED DEBT (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt KW Unsecured Debt	The following table details KW unsecured debt as of December 31, 2022 and 2021: December 31, (Dollars in millions) 2022 2021 Credit Facility $ 282.0 $ 75.0 Senior Notes (1) 1,803.5 1,803.9 KW Unsecured Debt 2,085.5 1,878.9 Unamortized loan fees (22.9) (26.6) Total KW Unsecured Debt $ 2,062.6 $ 1,852.3 (1) The senior notes balances include unamortized debt premiums (discounts). Debt premiums (discounts) represent the difference between the fair value of debt and the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized debt premium as of December 31, 2022 and December 31, 2021 was $3.5 million and $3.9 million, respectively. The following table details the KWE unsecured bonds as of December 31, 2022 and 2021: December 31, (Dollars in millions) 2022 2021 KWE Euro Medium Term Note Programme 507.1 624.1 Unamortized loan fees (0.7) (1.3) Total KWE Unsecured Bonds $ 506.4 $ 622.8 (1) The KWE unsecured bonds balances include unamortized debt discounts. Debt discounts represent the difference between the fair value of debt at issuance and the principal value of debt and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The net unamortized loan discount as of December 31, 2022 and 2021 was $1.5 million and $2.1 million, respectively.

KWE UNSECURED BONDS (Tables)

KWE UNSECURED BONDS (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of KWE Bonds	The following table details KW unsecured debt as of December 31, 2022 and 2021: December 31, (Dollars in millions) 2022 2021 Credit Facility $ 282.0 $ 75.0 Senior Notes (1) 1,803.5 1,803.9 KW Unsecured Debt 2,085.5 1,878.9 Unamortized loan fees (22.9) (26.6) Total KW Unsecured Debt $ 2,062.6 $ 1,852.3 (1) The senior notes balances include unamortized debt premiums (discounts). Debt premiums (discounts) represent the difference between the fair value of debt and the principal value of debt assumed in various acquisitions and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The unamortized debt premium as of December 31, 2022 and December 31, 2021 was $3.5 million and $3.9 million, respectively. The following table details the KWE unsecured bonds as of December 31, 2022 and 2021: December 31, (Dollars in millions) 2022 2021 KWE Euro Medium Term Note Programme 507.1 624.1 Unamortized loan fees (0.7) (1.3) Total KWE Unsecured Bonds $ 506.4 $ 622.8 (1) The KWE unsecured bonds balances include unamortized debt discounts. Debt discounts represent the difference between the fair value of debt at issuance and the principal value of debt and are amortized into interest expense over the remaining term of the related debt in a manner that approximates the effective interest method. The net unamortized loan discount as of December 31, 2022 and 2021 was $1.5 million and $2.1 million, respectively.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	The table below represents a geographical breakdown of book income (loss) before the provision for income taxes: Year ended December 31, (Dollars in millions) 2022 2021 2020 Domestic $ 88.5 $ 447.6 $ (37.0) Foreign 49.6 14.9 188.4 Total $ 138.1 $ 462.5 $ 151.4
Schedule of (Benefit from) Provision for Income Taxes	The U.S. and foreign components of provision for income taxes consisted of the following components. However, it is not reflective of the cash tax results of the Company. Year ended December 31, (Dollars in millions) 2022 2021 2020 Federal Current $ — $ — $ — Deferred 3.6 94.4 23.3 3.6 94.4 23.3 State Current 0.3 (0.2) 1.5 Deferred 11.3 9.1 0.4 11.6 8.9 1.9 Foreign Current 17.6 14.2 14.9 Deferred 3.4 8.7 3.5 21.0 22.9 18.4 Total $ 36.2 $ 126.2 $ 43.6
Reconciliation of the Statutory Federal Income Tax Rate	A reconciliation of the statutory federal income tax rate of 21% with Kennedy Wilson’s effective income tax rate is as follows: Year ended December 31, (Dollars in millions) 2022 2021 2020 Tax computed at the statutory rate $ 29.0 $ 97.1 $ 31.8 Tax deduction in excess of book compensation from restricted stock vesting — — 0.1 Domestic permanent differences, primarily disallowed executive compensation 7.8 8.1 7.2 Foreign permanent differences, primarily non-deductible depreciation, amortization and interest expenses in the United Kingdom 1.7 8.2 2.0 Effect of foreign operations, net of foreign tax credit (8.8) 7.4 (3.7) Noncontrolling interests (1.1) (2.6) (0.9) State income taxes, net of federal benefit 2.8 7.0 2.9 Other 4.8 1.0 4.2 Provision for income taxes $ 36.2 $ 126.2 $ 43.6
Schedule of Deferred Tax Assets and Liabilities	Cumulative tax effects of temporary differences are shown below at December 31, 2022 and 2021: Year ended December 31, (Dollars in millions) 2022 2021 Deferred tax assets: Foreign currency translation $ 5.0 $ 2.7 Net operating loss carryforward and credits 152.0 172.4 Depreciation and amortization 51.5 — Investment basis difference 90.7 96.8 Stock option expense 2.0 2.2 Hedging transactions 10.0 7.8 Lease liability 0.1 0.1 Accrued reserves 9.5 11.1 Total deferred tax assets 320.8 293.1 Valuation allowance (265.9) (257.1) Net deferred tax assets 54.9 36.0 Deferred tax liabilities: Investment basis and reserve differences 344.9 285.4 Depreciation and amortization — 3.9 Right of use asset 0.1 0.1 Prepaid expenses and other 3.7 2.2 Capitalized interest 1.0 1.3 Total deferred tax liabilities 349.7 292.9 Deferred tax liability, net $ (294.8) $ (256.9)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Lessee, Operating Lease, Liability, Maturity	The following table summarizes the fixed, future minimum rental payments, excluding variable costs, which are discounted to calculate the right of use asset and related lease liability for its operating leases in which we are the lessee: (Dollars in millions) Minimum Rental Payments 2023 $ 1.1 2024 1.0 2025 1.4 2026 1.3 2027 1.3 Thereafter 33.8 Total undiscounted rental payments 39.9 Less imputed interest (27.7) Total lease liabilities $ 12.2

STOCK COMPENSATION AND OTHER _2

STOCK COMPENSATION AND OTHER RELATED PLANS (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Nonvested Share Activity	The following table sets forth activity under the Amended and Restated Plan, the First Amended and Restated Plan, and the Second Amended and Restated Plan for the Company's fiscal years ending December 31, 2022, 2021 and 2020: Shares Nonvested at December 31, 2020 3,453,768 Granted 619,945 Vested (2,522,019) Forfeited (237,588) Nonvested at December 31, 2021 1,314,106 Granted 1,221,362 Vested (834,910) Forfeited — Nonvested at December 31, 2022 1,700,558

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of Dividends Declared and Paid	Kennedy Wilson declared and paid the following cash dividends on its common stock: (Dollars in millions) Year Ended December 31, 2022 Year Ended December 31, 2021 Declared Paid Declared Paid Preferred Stock $ 28.9 $ 25.9 $ 17.2 $ 17.2 Common Stock (1) 132.3 134.6 125.8 123.5 (1) The difference between declared and paid is the amount accrued on the consolidated balance sheets. The Company's dividends related to its common stock will be classified for U.S. federal income tax purposes as follows: Record Date Payment Date Distributions Per Share Ordinary Dividends Return of Capital 12/31/2021 1/6/2022 $ 0.2400 $ 0.0908 $ 0.1492 3/31/2022 4/7/2022 0.2400 0.0908 0.1492 6/30/2022 7/7/2022 0.2400 0.0908 0.1492 9/30/2022 10/6/2022 0.2400 0.0908 0.1492 Totals $ 0.9600 $ 0.3632 $ 0.5968
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in each component of accumulated other comprehensive loss ("AOCI"), net of taxes: (Dollars in millions) Foreign Currency Translation Foreign Currency Derivative Contracts Interest Rate Swaps Total Accumulated Other Comprehensive Loss (1) Balance at December 31, 2021 $ (88.2) $ 58.6 $ (1.6) $ (31.2) Unrealized (losses) gains, arising during the period (73.9) 39.5 7.4 (27.0) Taxes on unrealized losses (gains), arising during the period 2.2 (16.1) (1.8) (15.7) Amounts reclassified out of AOCI during the period, gross — — (1.1) (1.1) Amounts reclassified out of AOCI during the period, taxes — — 0.3 0.3 Noncontrolling interest 3.0 — — 3.0 Balance at December 31, 2022 $ (156.9) $ 82.0 $ 3.2 $ (71.7) (1) Excludes $358.4 million of inception to date accumulated other comprehensive losses associated with noncontrolling interest holders of KWE that the Company was required to record as part of the KWE Transaction in October 2017.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per share	The following is a summary of the elements used in calculating basic and diluted income per share for the years ended December 31, 2022, 2021 and 2020: Year ended December 31, (Dollars in millions, except share amounts and per share data) 2022 2021 2020 Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 64.8 $ 313.2 $ 92.9 Weighted-average shares outstanding for basic 136,900,875 138,552,058 139,741,411 Income per share - basic $ 0.47 $ 2.26 $ 0.66 Weighted average shares outstanding for diluted 138,567,534 140,132,435 140,347,365 Income per share - diluted $ 0.47 $ 2.24 $ 0.66

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize the income and expense activity by segment for the years ended December 31, 2022, 2021 and 2020 and total assets as of December 31, 2022 and 2021. Year Ended December 31, 2022 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 434.9 $ — $ — $ 434.9 Hotel 46.9 — — 46.9 Investment management fees — 44.8 — 44.8 Property services fees — — 1.7 1.7 Loans and other — 11.7 — 11.7 Total revenue 481.8 56.5 1.7 540.0 Income from unconsolidated investments Principal co-investments — 199.5 — 199.5 Performance allocations — (21.1) — (21.1) Income from unconsolidated investments — 178.4 — 178.4 Gain on sale of real estate, net 103.7 — — 103.7 Expenses Rental 151.2 — — 151.2 Hotel 29.5 — — 29.5 Compensation and related 41.5 44.6 25.2 111.3 Share-based compensation — — 29.0 29.0 Performance allocation compensation — (4.3) — (4.3) General and administrative 14.7 14.8 7.7 37.2 Depreciation and amortization 172.9 — — 172.9 Total expenses 409.8 55.1 61.9 526.8 Interest expense (128.2) — (92.6) (220.8) Gain on early extinguishment of debt 27.5 — — 27.5 Other income 20.8 — 15.3 36.1 Provision for income taxes (21.0) — (15.2) (36.2) Net income (loss) 74.8 179.8 (152.7) 101.9 Net income attributable to noncontrolling interests (8.2) — — (8.2) Preferred dividends — — (28.9) (28.9) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 66.6 $ 179.8 $ (181.6) $ 64.8 Year Ended December 31, 2021 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 390.5 $ — $ — $ 390.5 Hotel 17.1 — — 17.1 Investment management fees — 35.3 — 35.3 Property services fees — — 2.1 2.1 Loans and other — 8.6 — 8.6 Total revenue 407.6 43.9 2.1 453.6 Income from unconsolidated investments Principal co-investments — 271.1 — 271.1 Performance allocations — 117.9 — 117.9 Income from unconsolidated investments — 389.0 — 389.0 Gain on sale of real estate, net 412.7 — — 412.7 Expenses Rental 132.7 — — 132.7 Hotel 12.7 — — 12.7 Compensation and related 60.4 40.4 33.1 133.9 Share-based compensation — — 28.7 28.7 Performance allocation compensation — 42.0 — 42.0 General and administrative 18.5 8.5 6.3 33.3 Depreciation and amortization 166.3 — — 166.3 Total expenses 390.6 90.9 68.1 549.6 Interest expense (119.1) — (73.3) (192.4) Loss on extinguishment of debt (19.2) — (26.5) (45.7) Other loss (4.7) — (0.3) (5.0) Provision for income taxes (23.0) — (103.2) (126.2) Net income (loss) 263.7 342.0 (269.3) 336.4 Net income attributable to noncontrolling interests (6.0) — — (6.0) Preferred dividends — — (17.2) (17.2) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 257.7 $ 342.0 $ (286.5) $ 313.2 Year Ended December 31, 2020 (Dollars in millions) Consolidated Co-Investments Corporate Total Revenue Rental $ 403.9 $ — $ — $ 403.9 Hotel 13.9 — — 13.9 Investment management fees — 22.5 — 22.5 Property services fees — — 10.6 10.6 Loans and other — 3.1 — 3.1 Total revenue 417.8 25.6 10.6 454.0 Income from unconsolidated investments Principal co-investments — 78.3 — 78.3 Performance allocations — 2.7 — 2.7 Income from unconsolidated investments — 81.0 — 81.0 Gain on sale of real estate, net 338.0 — — 338.0 Expenses Rental 135.7 — — 135.7 Hotel 13.8 — — 13.8 Compensation and related 59.7 20.8 31.4 111.9 Share-based compensation — — 32.3 32.3 Performance allocation compensation — 0.2 — 0.2 General and administrative 20.6 5.9 8.1 34.6 Depreciation and amortization 179.6 — — 179.6 Total expenses 409.4 26.9 71.8 508.1 Interest expense (132.4) — (69.5) (201.9) Loss on extinguishment of debt (9.3) — — (9.3) Other loss (1.4) — (0.9) (2.3) Provision for income taxes (18.4) — (25.2) (43.6) Net income (loss) 184.9 79.7 (156.8) 107.8 Net loss attributable to noncontrolling interests 2.3 — — 2.3 Preferred dividends — — (17.2) (17.2) Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 187.2 $ 79.7 $ (174.0) $ 92.9 December 31, (Dollars in millions) 2022 2021 Assets Consolidated $ 5,684.1 $ 5,473.9 Co-investment 2,387.5 2,077.9 Corporate 200.2 324.7 Total assets $ 8,271.8 $ 7,876.5 December 31, (Dollars in millions) 2022 2021 2020 Expenditures for long lived assets Investments $ (569.1) $ (1,271.0) $ (264.2)
Schedule of Revenue, by Geographical Areas	The revenue shown in the table below is allocated based upon the region in which services are performed. Year Ended December 31, (Dollars in millions) 2022 2021 2020 United States $ 317.5 $ 278.1 $ 277.3 Europe 222.5 175.5 176.7 Total revenue $ 540.0 $ 453.6 $ 454.0

GUARANTOR AND NON-GUARANTOR F_2

GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Guarantor and Nonguarantor Financial Statements [Abstract]
Condensed Consolidating Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2022 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 91.5 $ 59.6 $ 288.2 $ — $ 439.3 Accounts receivable — 0.1 18.2 22.5 — 40.8 Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net — — 1,656.8 3,531.3 — 5,188.1 Unconsolidated investments — 15.9 698.6 1,523.6 — 2,238.1 Investments in and advances to consolidated subsidiaries 2,009.0 4,289.3 2,850.0 — (9,148.3) — Other assets — 85.7 50.5 79.9 — 216.1 Loan purchases and originations — 5.8 111.6 32.0 — 149.4 Total assets $ 2,009.0 $ 4,488.3 $ 5,445.3 $ 5,477.5 $ (9,148.3) $ 8,271.8 Liabilities Accounts payable — 0.5 4.0 11.7 — 16.2 Accrued expenses and other liabilities 45.0 416.2 76.5 120.5 — 658.2 Mortgage debt — — 1,075.5 1,942.5 — 3,018.0 KW unsecured debt — 2,062.6 — — — 2,062.6 KWE unsecured bonds — — — 506.4 — 506.4 Total liabilities 45.0 2,479.3 1,156.0 2,581.1 — 6,261.4 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,964.0 2,009.0 4,289.3 2,850.0 (9,148.3) 1,964.0 Noncontrolling interests — — — 46.4 — 46.4 Total equity 1,964.0 2,009.0 4,289.3 2,896.4 (9,148.3) 2,010.4 Total liabilities and equity $ 2,009.0 $ 4,488.3 $ 5,445.3 $ 5,477.5 $ (9,148.3) $ 8,271.8 CONDENSED CONSOLIDATING BALANCE SHEET AS OF DECEMBER 31, 2021 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Assets Cash and cash equivalents $ — $ 116.4 $ 69.1 $ 339.3 $ — $ 524.8 Accounts receivable — — 16.0 20.1 — 36.1 Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net — — 1,729.1 3,330.7 — 5,059.8 Unconsolidated investments — 14.8 618.0 1,314.8 — 1,947.6 Investments in and advances to consolidated subsidiaries 1,821.9 3,859.2 2,488.1 — (8,169.2) — Other assets — 65.9 51.6 60.4 — 177.9 Loan purchases and originations — 6.1 61.5 62.7 — 130.3 Total assets $ 1,821.9 $ 4,062.4 $ 5,033.4 $ 5,128.0 $ (8,169.2) $ 7,876.5 Liabilities Accounts payable $ — $ 1.0 $ 4.0 $ 13.6 $ — $ 18.6 Accrued expenses and other liabilities 44.3 387.2 78.0 109.6 — 619.1 Mortgage debt — — 1,092.2 1,867.6 — 2,959.8 KW unsecured debt — 1,852.3 — — — 1,852.3 KWE unsecured bonds — — — 622.8 622.8 Total liabilities 44.3 2,240.5 1,174.2 2,613.6 — 6,072.6 Equity Kennedy-Wilson Holdings, Inc. shareholders' equity 1,777.6 1,821.9 3,859.2 2,488.1 (8,169.2) 1,777.6 Noncontrolling interests — — — 26.3 — 26.3 Total equity 1,777.6 1,821.9 3,859.2 2,514.4 (8,169.2) 1,803.9 Total liabilities and equity $ 1,821.9 $ 4,062.4 $ 5,033.4 $ 5,128.0 $ (8,169.2) $ 7,876.5
Consolidating Statement of Operations	CONDENSED CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2022 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Total revenue $ — $ 0.2 $ 225.1 $ 314.7 $ — $ 540.0 Total income from unconsolidated investments — 1.1 12.0 165.3 — 178.4 Gain on sale of real estate, net — — 68.1 35.6 — 103.7 Total expenses 29.0 92.7 172.5 232.6 — 526.8 Income from consolidated subsidiaries 130.8 314.4 230.7 — (675.9) — Interest expense — (92.6) (41.8) (86.4) — (220.8) Gain on early extinguishment of debt — — (1.6) 29.1 — 27.5 Other income (loss) 0.1 15.6 (1.3) 21.7 — 36.1 Income before provision from income taxes 101.9 146.0 318.7 247.4 (675.9) 138.1 Provision for income taxes — (15.2) (4.3) (16.7) — (36.2) Net income 101.9 130.8 314.4 230.7 (675.9) 101.9 Net income attributable to the noncontrolling interests — — — (8.2) — (8.2) Preferred dividends (28.9) — — — — (28.9) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 73.0 $ 130.8 $ 314.4 $ 222.5 $ (675.9) $ 64.8 CONDENSED CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2021 (Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries Non-guarantor Subsidiaries Elimination Consolidated Total Total revenues $ — $ 0.3 $ 208.8 $ 244.5 $ — $ 453.6 Income from unconsolidated investments — 3.2 99.0 286.8 — 389.0 Gain on sale of real estate, net — (1.7) 129.6 284.8 — 412.7 Total expenses 31.8 108.1 214.8 194.9 — 549.6 Income from consolidated subsidiaries 368.2 676.8 508.7 — (1,553.7) — Interest expense — (73.3) (43.3) (75.8) (192.4) Loss on early extinguishment of debt — (26.5) (0.6) (18.6) — (45.7) Other income (loss) — 0.7 (1.2) (4.5) (5.0) Income before provision for income taxes 336.4 471.4 686.2 522.3 (1,553.7) 462.6 Provision for income taxes — (103.2) (9.4) (13.6) — (126.2) Net income 336.4 368.2 676.8 508.7 (1,553.7) 336.4 Net income attributable to the noncontrolling interests — — — (6.0) — (6.0) Preferred dividends (17.2) — — — — (17.2) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 319.2 $ 368.2 $ 676.8 $ 502.7 $ (1,553.7) $ 313.2 CONDENSED CONSOLIDATING STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2020 ( Dollars in millions) Parent Kennedy-Wilson, Inc. Guarantor Subsidiaries (1) Non-guarantor Subsidiaries Elimination Consolidated Total Total revenue $ — $ — $ 218.6 $ 235.4 $ — $ 454.0 Income from unconsolidated investments — 0.6 (0.6) 81.0 — 81.0 Gain on sale of real estate, net — — 65.9 272.1 — 338.0 Total expenses 33.5 86.7 201.0 186.9 — 508.1 Income from consolidated subsidiaries 141.3 320.1 294.0 — (755.4) — Interest expense — (69.5) (48.6) (83.8) — (201.9) Loss on early extinguishment of debt — — (3.7) (5.6) — (9.3) Other income (loss) 2.0 (3.8) (0.5) — (2.3) Income before provision for income taxes 107.8 166.5 320.8 311.7 (755.4) 151.4 Provision for income taxes — (25.2) (0.7) (17.7) — (43.6) Net income 107.8 141.3 320.1 294.0 (755.4) 107.8 Net loss attributable to the noncontrolling interests — — — 2.3 — 2.3 Preferred dividends (17.2) — — — — (17.2) Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ 90.6 $ 141.3 $ 320.1 $ 296.3 $ (755.4) $ 92.9

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Unconsolidated Investments (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) investment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Accounting Policies [Abstract]
Number of investments, fair value option | investment	67
Accrued performance fees	$ 141.6
Fees receivable	$ 6.8	$ 9.6	$ 0
Performance fees retained (as a percent)	35%
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accrued performance fees	$ 141.6
Payment of performance fees	1.2
Accrued Liabilities And Other Liabilities
Accounting Policies [Abstract]
Accrued performance fees	37.1
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accrued performance fees	$ 37.1

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Goodwill impairment loss	$ 0	$ 0	$ 0

BASIS OF PRESENTATION AND SUM_5

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Restricted cash	$ 21.4	$ 24.2	$ 101.7

BASIS OF PRESENTATION AND SUM_6

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Uncollectible lease income			$ 8	$ 12.9	$ 13.5
Income (loss) from unconsolidated investments	$ (178.4)	$ (389)	(178.4)	(389)	$ (81)
Operating lease, right-of-use asset	$ 12.2	$ 10	$ 12.2	$ 10

REAL ESTATE AND ACQUIRED IN P_3

REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE - Schedule of Investments in Consolidated Properties (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Real Estate [Abstract]
Land	$ 1,319.2	$ 1,277.6
Buildings	3,961.9	3,744.1
Building improvements	494.2	545.6
Acquired in-place lease values	295	330.6
Real estate investment, at cost	6,070.3	5,897.9
Less accumulated depreciation and amortization	(882.2)	(838.1)
Real estate and acquired in place lease values, net of accumulated depreciation and amortization	5,188.1	5,059.8
Buildings, Building Improvements and Acquired In-Place Lease Values
Real Estate Properties [Line Items]
Depreciation and amortization expense	$ 162.7	$ 151.3	$ 165.7
Building and Building Improvements | Maximum
Real Estate Properties [Line Items]
Estimated useful life (in years)	40 years

REAL ESTATE AND ACQUIRED IN P_4

REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE - Schedule of Consolidated Acquisitions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($) property
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land	$ 124.7	$ 262
Building	470.7	842.2
Acquired in place lease values	8.3	24.6
Investment debt	203.4	469.1
KWH Shareholders' Equity	$ 400.3	$ 659.7
Western U.S. | Multifamily
Business Acquisition [Line Items]
Number of properties acquired | property	4	10
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land	$ 99.2	$ 166.1
Building	396.6	610.9
Acquired in place lease values	1.4	2.3
Investment debt	203.4	469.1
KWH Shareholders' Equity	293.8	$ 310.2
United Kingdom
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land	25.5
Building	74.1
Acquired in place lease values	6.9
Investment debt	0
KWH Shareholders' Equity	$ 106.5
United Kingdom | Commercial
Business Acquisition [Line Items]
Number of properties acquired | property		2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Land		$ 95.9
Building		231.3
Acquired in place lease values		22.3
Investment debt		0
KWH Shareholders' Equity		$ 349.5

REAL ESTATE AND ACQUIRED IN P_5

REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE - Gains on Real Estate, Net (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($) property	Dec. 31, 2020 USD ($) asset property
Real Estate [Line Items]
Consolidated | $	$ 103.7	$ 412.7	$ 338
NCI | $	(1)	(5.4)	(0.6)
Net of NCI | $	$ 102.7	$ 407.3	$ 337.4
MF Portfolio Joint Venture
Real Estate [Line Items]
Equity interest sold, percentage	49%	49%
Leases, Acquired-in-Place
Real Estate [Line Items]
Weighted-average lease term (in years)	6 years 8 months 12 days
United Kingdom
Real Estate [Line Items]
Number of real estate properties sold | property		2	5
Retail Site and Residential | United Kingdom And United States
Real Estate [Line Items]
Impairment of Real Estate | $		$ 20.9
Retail | Spain
Real Estate [Line Items]
Number of real estate properties sold | asset			1
Retail | United Kingdom
Real Estate [Line Items]
Number of real estate properties sold | asset			19
Office | Ireland
Real Estate [Line Items]
Number of real estate properties sold | asset			2
Office | United Kingdom
Real Estate [Line Items]
Impairment of Real Estate | $			$ 15.6
Number of real estate properties sold | asset			3
Industrial | United Kingdom
Real Estate [Line Items]
Number of real estate properties sold | asset			20
Multifamily | Ireland
Real Estate [Line Items]
Number of real estate properties sold | asset			2
Multifamily | United States
Real Estate [Line Items]
Equity interest sold, percentage		49%
Number of real estate properties sold | property	1	9	1
Retail And Office | Europe
Real Estate [Line Items]
Impairment of Real Estate | $	$ 13.3

REAL ESTATE AND ACQUIRED IN P_6

REAL ESTATE AND ACQUIRED IN PLACE LEASE VALUE - Deconsolidation of Previously Consolidated Real Estate (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 18, 2020 industrialAsset
Real Estate [Line Items]
Net proceeds from sale of consolidated real estate	$ 325.9	$ 486.4	$ 827.8
Axa Joint Venture | Kennedy Wilson Holdings, Inc. and AXS Investment Managers
Real Estate [Line Items]
Deconsolidation, gain (loss)	126.3
MF Portfolio Joint Venture
Real Estate [Line Items]
Deconsolidation, gain (loss)	56.7	332
Net proceeds from sale of consolidated real estate	$ 30.2	$ 166.4
Equity interest sold, percentage	49%	49%
Equity method investment, ownership percentage (as a percent)	51%	51%
Industrial JV | United Kingdom
Real Estate [Line Items]
Equity method investment, ownership percentage (as a percent)				20%
Industrial JV | Industrial JV Investment Managers
Real Estate [Line Items]
Equity method investment, ownership percentage (as a percent)				80%
Industrial JV | Industrial JV Investment Managers | Industrial | United Kingdom
Real Estate [Line Items]
Number of assets | industrialAsset				18

- Real Estate and In-Place Leas

- Real Estate and In-Place Lease Value - Future Minimum Lease To Be Received (Details) $ in Millions	Dec. 31, 2022 USD ($)
Real Estate [Abstract]
2023	$ 144.2
2024	127.9
2025	112.8
2026	95.6
2027	76.6
Thereafter	232.6
Total	$ 789.7

UNCONSOLIDATED INVESTMENTS - Na

UNCONSOLIDATED INVESTMENTS - Narrative (Details) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2022 USD ($) fund	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) joint_venture fund property	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Schedule of Equity Method Investments [Line Items]
Proceeds from equity method investments			$ 235.2
Interest income recognized			178.4	$ 389	$ 81
Fair value gains			114.6	213.5	47.2
Fair value of unconsolidated investments	$ 2,093.7	$ 1,794.8	2,093.7	1,794.8
Income from unconsolidated investment			$ 41.8
Number of joint ventures with unfulfilled capital commitments | joint_venture			9
Income from unconsolidated investments	$ 178.4	389	$ 178.4	389	81
Gibraltar, Pounds | Foreign Currency Translation
Schedule of Equity Method Investments [Line Items]
Percentage of Debt Hedged by Interest Rate Derivatives	92%		92%
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Unfunded capital commitments	$ 246.6		$ 246.6
Equity Method Investments Closed-End Funds
Schedule of Equity Method Investments [Line Items]
Unfunded capital commitments	$ 76.8		$ 76.8
Number of closed-end funds | fund	4		4
Development Project Equity Commitments
Schedule of Equity Method Investments [Line Items]
Unfunded capital commitments	$ 87.4		$ 87.4
Recurring
Schedule of Equity Method Investments [Line Items]
Fair value of unconsolidated investments	$ 2,093.7	1,794.8	2,093.7	1,794.8
Joint Venture
Schedule of Equity Method Investments [Line Items]
Payments to joint venture			$ 361.3
Joint Venture | Office Property | Ireland
Schedule of Equity Method Investments [Line Items]
Number of properties generating distribution | property			1
Joint Venture | Multifamily | Ireland
Schedule of Equity Method Investments [Line Items]
Number of properties generating distribution | property			3
Montiavo
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage (as a percent)	49%		49%
Deconsolidation, gain (loss)			$ 31.9
Vintage Housing Holdings
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 272.3	$ 157.9	272.3	157.9
Income from unconsolidated investments			119.8	41.4	22.8
MF Seed Portfolio
Schedule of Equity Method Investments [Line Items]
Income (Loss) From Equity Method Investments, Fair Value Accounting			43.8	92.1
Fair value gains			28.6	73.3
Income from unconsolidated investment			9.9	3.2
Income (loss) from unconsolidated investments, performance allocations			5.2	15.7
Income from unconsolidated investments			45.1	88.9
VHH
Schedule of Equity Method Investments [Line Items]
Income (Loss) From Equity Method Investments, Fair Value Accounting			119.8
Fair value gains			108.4
Income from unconsolidated investment			11.4
Income from unconsolidated investments			$ 119.8	$ 41.4	$ 22.8
Minimum | Various Comingled Funds And Separate Accounts
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage (as a percent)	5%		5%
Maximum | Various Comingled Funds And Separate Accounts
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage (as a percent)	50%		50%

UNCONSOLIDATED INVESTMENTS - Sc

UNCONSOLIDATED INVESTMENTS - Schedule of Joint Ventures (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 2,238.1	$ 1,947.6
Multifamily
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	1,235.7	981.6
Commercial
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	404.6	391.4
Hotel
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	195.9	131
Funds
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	202.6	235.2
Residential and Other
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	199.3	208.4
Western U.S.
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	1,470.1	1,172.9
Western U.S. | Multifamily
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	857.6	592.1
Western U.S. | Commercial
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	89.2	81
Western U.S. | Hotel
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	195.9	131
Western U.S. | Funds
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	158.3	189.2
Western U.S. | Residential and Other
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	169.1	179.6
Ireland
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	562.8	533.7
Ireland | Multifamily
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	378.1	389.5
Ireland | Commercial
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	176.7	141.1
Ireland | Hotel
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
Ireland | Funds
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	8	3.1
Ireland | Residential and Other
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
United Kingdom
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	205.2	241
United Kingdom | Multifamily
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
United Kingdom | Commercial
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	138.7	169.3
United Kingdom | Hotel
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	0	0
United Kingdom | Funds
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	36.3	42.9
United Kingdom | Residential and Other
Schedule of Equity Method Investments [Line Items]
Investments in joint ventures	$ 30.2	$ 28.8

UNCONSOLIDATED INVESTMENTS - Ca

UNCONSOLIDATED INVESTMENTS - Cash Distributions by Investment Type and Location (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Schedule of Equity Method Investments [Line Items]
Operating	$ 78.1
Investing	157.1
Multifamily
Schedule of Equity Method Investments [Line Items]
Operating	46.8
Investing	105.2
Commercial
Schedule of Equity Method Investments [Line Items]
Operating	20.2
Investing	1.5
Funds
Schedule of Equity Method Investments [Line Items]
Operating	10.2
Investing	15.6
Residential and Other
Schedule of Equity Method Investments [Line Items]
Operating	0.9
Investing	34.8
Western U.S.
Schedule of Equity Method Investments [Line Items]
Operating	60.4
Investing	101
Western U.S. | Multifamily
Schedule of Equity Method Investments [Line Items]
Operating	38.8
Investing	66.6
Western U.S. | Commercial
Schedule of Equity Method Investments [Line Items]
Operating	11.2
Investing	0.2
Western U.S. | Funds
Schedule of Equity Method Investments [Line Items]
Operating	10.2
Investing	10.7
Western U.S. | Residential and Other
Schedule of Equity Method Investments [Line Items]
Operating	0.2
Investing	23.5
Ireland
Schedule of Equity Method Investments [Line Items]
Operating	15.3
Investing	43.5
Ireland | Multifamily
Schedule of Equity Method Investments [Line Items]
Operating	8
Investing	38.6
Ireland | Commercial
Schedule of Equity Method Investments [Line Items]
Operating	7.3
Investing	0
Ireland | Funds
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	4.9
Ireland | Residential and Other
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
United Kingdom
Schedule of Equity Method Investments [Line Items]
Operating	2.4
Investing	12.6
United Kingdom | Multifamily
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
United Kingdom | Commercial
Schedule of Equity Method Investments [Line Items]
Operating	1.7
Investing	1.3
United Kingdom | Funds
Schedule of Equity Method Investments [Line Items]
Operating	0
Investing	0
United Kingdom | Residential and Other
Schedule of Equity Method Investments [Line Items]
Operating	0.7
Investing	$ 11.3

UNCONSOLIDATED INVESTMENTS - In

UNCONSOLIDATED INVESTMENTS - Income from Unconsolidated Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Income from unconsolidated investments - operating performance	$ 80.2	$ 60.7	$ 43.4
Income from unconsolidated investments - realized gains from cost basis investments	4.7	0	0
Income from unconsolidated investments - unrealized and realized fair value gains	114.6	213.5	47.2
Income from unconsolidated investments - realized losses and impairment	0	(3.1)	(12.3)
Principal co-investments	199.5	271.1	78.3
(Loss) income from unconsolidated investments - performance allocation	(21.1)	117.9	2.7
Total interest income and foreign currency gain (loss)	$ 178.4	$ 389	$ 81

UNCONSOLIDATED INVESTMENTS -Sum

UNCONSOLIDATED INVESTMENTS -Summarized Financial Data (Details) - USD ($) $ in Millions		3 Months Ended		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Cash and cash equivalents		$ 439.3	$ 524.8	$ 439.3	$ 524.8
Accounts receivable		40.8	36.1	40.8	36.1
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		5,188.1	5,059.8	5,188.1	5,059.8
Other assets		216.1	177.9	216.1	177.9
Total assets	[1]	8,271.8	7,876.5	8,271.8	7,876.5
Liabilities
Total liabilities	[1]	6,261.4	6,072.6	6,261.4	6,072.6
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,964	1,777.6	1,964	1,777.6
Noncontrolling interests		46.4	26.3	46.4	26.3
Total equity		2,010.4	1,803.9	2,010.4	1,803.9	$ 1,672.7	$ 1,719.2
Total liabilities and equity		8,271.8	7,876.5	8,271.8	7,876.5
Interest expense				(220.8)	(192.4)	(201.9)
Other income (loss)				36.1	(5)	(2.3)
Net income				101.9	336.4	107.8
Income attributable to partner				8.2	6	(2.3)
Income from unconsolidated investments		178.4	389	178.4	389	81
VHH
Equity
Unrealized fair value gains				270.7	77.4	31.3
Interest expense				(45.6)	(37.5)	(31.8)
Other income (loss)				0	(0.1)	(0.9)
Income attributable to partner				(195.3)	(78.3)	(46.5)
Income from unconsolidated investments				119.8	41.4	22.8
MF Seed Portfolio
Equity
Unrealized fair value gains				56.1	140.6
Interest expense				(17.6)	(8.2)
Other income (loss)				(4.1)	(11.8)
Income attributable to partner				(33)	(54.8)
Income from unconsolidated investments				45.1	88.9
Rental | VHH
Equity
Total revenue				131	114.7	102.1
Rental expenses				(41)	(34.8)	(31.4)
Rental | MF Seed Portfolio
Equity
Total revenue				64.8	31.6
Rental expenses				(21.1)	(8.5)
MF Seed Portfolio
Schedule of Equity Method Investments [Line Items]
Cash and cash equivalents		12.4	10.9	12.4	10.9
Accounts receivable		2	2.4	2	2.4
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		970.5	943.5	970.5	943.5
Other assets		1.1	1.5	1.1	1.5
Total assets		986	958.3	986	958.3
Liabilities
Accounts payable and accrued expenses		5.4	5.2	5.4	5.2
Mortgage debt		448.7	457	448.7	457
Total liabilities		454.1	462.2	454.1	462.2
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		291.9	268.6	291.9	268.6
Noncontrolling interests		240	227.5	240	227.5
Total equity		531.9	496.1	531.9	496.1
Total liabilities and equity		986	958.3	986	958.3
Net income				78.1	143.7
VHH
Schedule of Equity Method Investments [Line Items]
Cash and cash equivalents		37	31.9	37	31.9
Accounts receivable		4.4	4.9	4.4	4.9
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		1,802.7	1,553.3	1,802.7	1,553.3
Other assets		2	0	2	0
Total assets		1,846.1	1,590.1	1,846.1	1,590.1
Liabilities
Accounts payable and accrued expenses		17.6	19.9	17.6	19.9
Mortgage debt		1,180.6	1,188.6	1,180.6	1,188.6
Total liabilities		1,198.2	1,208.5	1,198.2	1,208.5
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		271.8	157.9	271.8	157.9
Noncontrolling interests		376.1	223.7	376.1	223.7
Total equity		647.9	381.6	647.9	381.6
Total liabilities and equity		$ 1,846.1	$ 1,590.1	1,846.1	1,590.1
Net income				$ 315.1	$ 119.7	$ 69.3
[1]The assets and liabilities as of December 31, 2022 include $169.8 million (including cash held by consolidated investments of $6.1 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $137.8 million) and $82.4 million (including investment debt of $51.2 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2021 include $189.6 million (including cash held by consolidated investments of $11.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $152.8 million) and $129.2 million (including investment debt of $103.3 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

FAIR VALUE MEASUREMENTS AND T_3

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION - Schedule of Fair Value Measurements (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	$ 2,093.7	$ 1,794.8
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	2,093.7	1,794.8
Total	2,100.7	1,803.3
Recurring | Currency Derivative Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net currency derivative contracts	7	8.5
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	0	0
Total	0	0
Recurring | Level 1 | Currency Derivative Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net currency derivative contracts	0	0
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	0	0
Total	7	8.5
Recurring | Level 2 | Currency Derivative Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net currency derivative contracts	7	8.5
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unconsolidated investments	2,093.7	1,794.8
Total	2,093.7	1,794.8
Recurring | Level 3 | Currency Derivative Contract
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net currency derivative contracts	$ 0	$ 0

FAIR VALUE MEASUREMENTS AND T_4

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION - Unconsolidated Investments, Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) investment	Dec. 31, 2021
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Fair Value option number of investments | investment	67
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Principal co-investments	Principal co-investments
Gibraltar, Pounds | Foreign Currency Translation
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percentage of Debt Hedged by Interest Rate Derivatives	92%
Euro Member Countries, Euro | Foreign Currency Translation
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Percentage of Debt Hedged by Interest Rate Derivatives	91%
Montiavo
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Deconsolidation, gain (loss) | $	$ 31.9
Equity method investment, ownership percentage (as a percent)	49%

FAIR VALUE MEASUREMENTS AND T_5

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION - Unconsolidated Investments Held at Fair Value (Details) - Equity Method Investments - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
FV Option	$ 1,891.1	$ 1,568.5
Funds	202.6	226.3
Total	$ 2,093.7	$ 1,794.8

FAIR VALUE MEASUREMENTS AND T_6

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION - Schedule of Changes in Level 3 Investments (Details) - Level 3 - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Change in unrealized gain (losses) on level 3 investments	$ 120.8	$ 195.3
Equity Method Investments | Recurring
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,794.8	1,136.5	$ 1,099.3
Unrealized and realized gains, including performance allocations	274.4	390	109.8
Unrealized and realized losses	(114.1)	(5)	(13.5)
Contributions	348.1	273.8	109.2
Distributions	(188.9)	(144.3)	(189.7)
Foreign exchange	(55.8)	(28.4)	24.5
Other	35.2	172.2	(3.1)
Ending balance	$ 2,093.7	$ 1,794.8	$ 1,136.5

FAIR VALUE MEASUREMENTS AND T_7

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION - Schedule of Significant Inputs (Details)	Dec. 31, 2022
Capitalization Rates | Multifamily | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0580
Capitalization Rates | Multifamily | Minimum | Level 3 | Valuation Technique, Direct Capitalization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0380
Capitalization Rates | Multifamily | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0750
Capitalization Rates | Multifamily | Maximum | Level 3 | Valuation Technique, Direct Capitalization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0570
Capitalization Rates | Office | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0520
Capitalization Rates | Office | Minimum | Level 3 | Valuation Technique, Direct Capitalization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0420
Capitalization Rates | Office | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0750
Capitalization Rates | Office | Maximum | Level 3 | Valuation Technique, Direct Capitalization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0870
Capitalization Rates | Industrial | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0500
Capitalization Rates | Industrial | Minimum | Level 3 | Valuation Technique, Direct Capitalization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0380
Capitalization Rates | Industrial | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0630
Capitalization Rates | Industrial | Maximum | Level 3 | Valuation Technique, Direct Capitalization
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0830
Capitalization Rates | Retail | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0650
Capitalization Rates | Hotel | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0600
Discount Rates | Multifamily | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0800
Discount Rates | Multifamily | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0980
Discount Rates | Office | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0750
Discount Rates | Office | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0930
Discount Rates | Industrial | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0630
Discount Rates | Industrial | Maximum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0780
Discount Rates | Retail | Minimum | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0830
Discount Rates | Hotel | Level 3 | Valuation Technique, Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0830
Measurement Input, Credit Spread | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0122
Measurement Input, Credit Spread | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Measurement input	0.0725

FAIR VALUE MEASUREMENTS AND T_8

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION - Derivatives Financial Instruments (Details) € in Millions, £ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 GBP (£)
Derivative [Line Items]
Hedge Asset	$ 34.3	$ 24.5
Interest Expense	220.8	$ 192.4	$ 201.9
Foreign Exchange Contract | Foreign Currency Derivative Contracts
Cash Paid
Deferred taxes on unrealized gains (losses), arising during the period	(16.1)
Designated as Hedging Instrument | Foreign Exchange Contract, One
Derivative [Line Items]
Notional | €				€ 287.5
Designated as Hedging Instrument | Foreign Exchange Contract, Two | KWE
Derivative [Line Items]
Notional | €				€ 40
Designated as Hedging Instrument | Foreign Exchange Contract, Four
Derivative [Line Items]
Notional | £					£ 545
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract
Derivative [Line Items]
Hedge Asset	34.3
Hedge Liability	27.3
Change in Unrealized Gains	39.5
Realized Gains	17.9
Interest Expense	8.1
Cash Paid
Total	95.3
Designated as Hedging Instrument | Level 2 | Derivatives Outstanding
Derivative [Line Items]
Hedge Asset	34.3
Hedge Liability	27.3
Change in Unrealized Gains	(17.3)
Realized Gains	(6.5)
Interest Expense	3.6
Cash Paid
Cash Paid	0
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, One
Derivative [Line Items]
Hedge Asset	5.2
Hedge Liability	12.7
Change in Unrealized Gains	(0.6)
Realized Gains	(8.7)
Interest Expense	1.8
Cash Paid
Cash Paid	0
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, Two | KWE
Derivative [Line Items]
Hedge Asset	0.8
Hedge Liability	0
Change in Unrealized Gains	0.8
Realized Gains	0
Interest Expense	0
Cash Paid
Cash Paid	0
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, Three | KWE
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains	(28.3)
Realized Gains	0
Interest Expense	0
Cash Paid
Cash Paid	0
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, Four
Derivative [Line Items]
Hedge Asset	28.3
Hedge Liability	14.6
Change in Unrealized Gains	10.8
Realized Gains	2.2
Interest Expense	1.8
Cash Paid
Cash Paid	0
Designated as Hedging Instrument | Level 2 | Derivative Settled
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains	56.8
Realized Gains	24.4
Interest Expense	4.5
Cash Paid
Cash Paid	95.3
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, Six
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains	1.1
Realized Gains	24.4
Interest Expense	2.7
Cash Paid
Cash Paid	31.9
Designated as Hedging Instrument | Level 2 | Foreign Exchange Contract, Seven
Derivative [Line Items]
Hedge Asset	0
Hedge Liability	0
Change in Unrealized Gains	55.7
Realized Gains	0
Interest Expense	1.8
Cash Paid
Cash Paid	$ 63.4

FAIR VALUE MEASUREMENTS AND T_9

FAIR VALUE MEASUREMENTS AND THE FAIR VALUE OPTION - Interest Rate Swaps and Fair Value of Financial Instruments, Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest expense	$ 220.8	$ 192.4	$ 201.9
Principal co-investments	199.5	271.1	78.3
Estimate of Fair Value Measurement | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	5,000	5,500
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt carrying value	5,600	5,100
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized currency derivative contract gain (loss)	(5.6)	(3.2)	$ 5.3
Principal co-investments	16.9
Interest Rate Swap | Designated as Hedging Instrument
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain on Derivative Instruments, Pretax	$ 42.4	0.8
Interest Rate Swap | Foreign Currency Derivative Contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unrealized currency derivative contract gain (loss)		$ 4.2

OTHER ASSETS - Schedule of Othe

OTHER ASSETS - Schedule of Other Assets (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Other Assets [Abstract]
Straight line rent receivable	$ 42.2	$ 44.3
Hedge Asset	34.3	24.5
Goodwill	23.9	23.9
Other	13.7	13
Prepaid expenses	12.7	13.3
Right of use asset, net	12.2	10
Leasing commissions, net of accumulated amortization of $11.1 and $9.7 at December 31, 2022 and 2021, respectively	9.4	8
Deferred taxes, net	9.4	12.6
Other Assets	216.1	177.9
Accumulated depreciation, depletion and amortization, property, plant, and equipment	29.4	27.4
Accumulated amortization, leasing commission	11.1	9.7
Accumulated amortization, above-market leases	53	60.4
Interest Rate Cap And Swaps
Other Assets [Abstract]
Hedge Asset	41	2.3
Above market Leases
Other Assets [Abstract]
Above-market leases, net of accumulated amortization of $53.0 and $60.4 at December 31, 2022 and 2021, respectively	3.9	8.4
Furniture and equipment
Other Assets [Abstract]
Furniture and equipment net of accumulated depreciation of $29.4 and $27.4 at December 31, 2022 and 2021, respectively	$ 13.4	$ 17.6

OTHER ASSETS - Additional Infor

OTHER ASSETS - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) lease	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Real Estate [Line Items]
Depreciation and amortization expense | $	$ 10.2	$ 14.5	$ 13.6
Rental expense | $	$ 0.6	$ 0.7	$ 1
Minimum
Real Estate [Line Items]
Remaining operating lease terms (in years)	3 years
Maximum
Real Estate [Line Items]
Remaining operating lease terms (in years)	236 years
Loans and other
Real Estate [Line Items]
Operating lease | lease	3
Ground Leases
Real Estate [Line Items]
Operating lease | lease	3

OTHER ASSETS - Schedule of Futu

OTHER ASSETS - Schedule of Future Minimum Rental Payments (Details) $ in Millions	Dec. 31, 2022 USD ($)
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
2023	$ 1.1
2024	1
2025	1.4
2026	1.3
2027	1.3
Thereafter	33.8
Total undiscounted rental payments	39.9
Less imputed interest	(27.7)
Total lease liabilities	$ 12.2

MORTGAGE DEBT - Schedule of Mor

MORTGAGE DEBT - Schedule of Mortgage Debt (Details) - Mortgage debt - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Debt (excluding loan fees)	$ 3,034.5	$ 2,977.6
Unamortized loan fees	(16.5)	(17.8)
Total debt	3,018	2,959.8
Unamortized premium (discount)	(0.6)	2.5
Mortgage Loans Secured by Multi-Family Properties | Western U.S.
Debt Instrument [Line Items]
Debt (excluding loan fees)	1,692.9	1,493.1
Mortgage Loans Secured by Commercial | Western U.S.
Debt Instrument [Line Items]
Debt (excluding loan fees)	296.6	351
Mortgage Loans Secured by Commercial | United Kingdom
Debt Instrument [Line Items]
Debt (excluding loan fees)	637.4	683.8
Mortgage Loans Secured by Commercial | Ireland
Debt Instrument [Line Items]
Debt (excluding loan fees)	370.7	327.3
Mortgage Loans Secured by Commercial | Spain
Debt Instrument [Line Items]
Debt (excluding loan fees)	$ 36.9	40.4
Mortgage Loans Secured by Hotel | Ireland
Debt Instrument [Line Items]
Debt (excluding loan fees)		$ 82

MORTGAGE DEBT - Mortgage Debt,

MORTGAGE DEBT - Mortgage Debt, Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) acquisition property loan	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Number of acquisitions partially financed with mortgages | acquisition	4
Number of existing mortgages refinanced | loan	5
Number of properties that acquired supplemental financing | property	1
Gain (loss) on early extinguishment of debt	$ 27.5	$ (45.7)	$ (9.3)
Mortgage debt
Debt Instrument [Line Items]
Weighted-average interest rate of investment debt (as a percent)	4.12%	3.11%
Percent of property level debt with fixed rate (as a percent)	65%	78%
Percent of property level debt with floating rate and interest caps (as a percent)	27%	13%
Percent of property level debt with floating rate, without interest caps (as a percent)	8%	9%
Amount of mortgage paid down	$ 9.1
Collateral amount	7.6
Debt Instrument, Face Amount	$ 165.8
Interest rate (as a percent)	5.50%
Mortgage debt | United Kingdom
Debt Instrument [Line Items]
Gain (loss) on early extinguishment of debt	$ 16.1

MORTGAGE DEBT - Schedule of Mat

MORTGAGE DEBT - Schedule of Maturities (Details) - Mortgage debt - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
2022	$ 247.9
2024	186.2
2025	359.9
2026	573.4
2027	378.1
Thereafter	1,289.6
Long-term debt, gross	3,035.1
Unamortized debt discount	(0.6)
Unamortized loan fees	(16.5)	$ (17.8)
Total debt	$ 3,018	$ 2,959.8

KW UNSECURED DEBT - Schedule of

KW UNSECURED DEBT - Schedule of Unsecured Debt (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
KW unsecured debt
Debt Instrument [Line Items]
Debt, net of discount (premium)	$ 2,085.5	$ 1,878.9
Unamortized loan fees	(22.9)	(26.6)
Total debt	2,062.6	1,852.3
Unamortized discount	3.5	3.9
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt, net of discount (premium)	282	75
Senior Notes
Debt Instrument [Line Items]
Debt, net of discount (premium)	$ 1,803.5	$ 1,803.9

KW UNSECURED DEBT - Borrowings

KW UNSECURED DEBT - Borrowings Under Credit Facilities (Details) - Revolving Credit Facility - Line of Credit - USD ($)		12 Months Ended
	Mar. 25, 2020	Dec. 31, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Debt (excluding loan fees)		$ 282,000,000	$ 75,000,000
A&R Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		500,000,000
Maturity of extension	1 year
Maximum consolidated leverage ratio	65%
Fixed charge coverage ratio measurement period	12 months
Covenant, percent of new equity offerings	50%
Maximum secured recourse leverage multiplier	1.5
Remaining borrowing capacity		218,000,000
Average outstanding amount		208,000,000
Minimum | A&R Facility
Line of Credit Facility [Line Items]
Fixed charge coverage ratio	1.70
Tangible net worth	$ 1,700,000,000
Liquidity	$ 75,000,000	$ 282,000,000
Maximum | A&R Facility
Line of Credit Facility [Line Items]
Secured recourse leverage ratio	3.50%
Liquidity	$ 299,000,000
Adjusted secured leverage ratio	55%
LIBOR | Minimum | A&R Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate (as percent)	1.75%
LIBOR | Maximum | A&R Facility
Line of Credit Facility [Line Items]
Basis spread on variable rate (as percent)	2.50%

KW UNSECURED DEBT - 2024 Notes

KW UNSECURED DEBT - 2024 Notes (Details) - Senior Notes - 5.875% Senior Notes Due 2024 - USD ($)	Dec. 31, 2021	Jan. 27, 2021
Debt Instrument [Line Items]
Debt face value	$ 1,200,000,000
Interest rate (as a percent)	5.875%
Repurchased face amount		$ 1,000,000,000

KW UNSECURED DEBT - Senior Note

KW UNSECURED DEBT - Senior Notes (Details)				12 Months Ended
	Apr. 01, 2021 USD ($)	Feb. 11, 2021 USD ($)	Feb. 09, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Aug. 23, 2021 USD ($)	Mar. 15, 2021 USD ($)	Jan. 27, 2021 USD ($)
Debt Instrument [Line Items]
Gain on extinguishment of debt				$ (27,500,000)	$ 45,700,000	$ 9,300,000
Senior Notes | Maximum
Debt Instrument [Line Items]
Balance sheet leverage ratio				1.50
Balance sheet leverage ratio at period end				1.15
4.75% Senior Notes Due 2029 | Senior Notes
Debt Instrument [Line Items]
Debt face value		$ 500,000,000						$ 100,000,000
Interest rate (as a percent)		4.75%
Gain on extinguishment of debt			$ 14,800,000		11,700,000
Amount of extinguishment of debt	$ 573,100,000
5% Senior Notes Due 2031 | Senior Notes
Debt Instrument [Line Items]
Debt face value		$ 500,000,000						$ 100,000,000
Interest rate (as a percent)		5%
Senior Notes Due 2030 | Senior Notes
Debt Instrument [Line Items]
Debt face value							$ 600,000,000
Interest rate (as a percent)							4.75%
4.75% Senior Notes Due 2029 and 5% Senior Notes Due 2031 | Senior Notes
Debt Instrument [Line Items]
Redemption percentage of principal		100%
Redemption percentage of debt option		40%
4.75% Senior Notes Due 2029 and 5% Senior Notes Due 2031 | Senior Notes | Maximum
Debt Instrument [Line Items]
Redemption percentage of principal		101%
5.875% Senior Notes Due 2024 | Senior Notes
Debt Instrument [Line Items]
Debt face value					$ 1,200,000,000
Interest rate (as a percent)					5.875%
Repurchased face amount									$ 1,000,000,000
Total repurchase amount			$ 576,900,000

KWE UNSECURED BONDS - Schedule

KWE UNSECURED BONDS - Schedule of KWE Unsecured Bonds (Details) - KWE unsecured bonds - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Mortgage debt	$ 506.4	$ 622.8
Unamortized premium (discount)	(1.5)	(2.1)
KWE
Debt Instrument [Line Items]
Unamortized loan fees	(0.7)	(1.3)
Mortgage debt	506.4	622.8
KWE | KWE Euro Medium Term Note Programme
Debt Instrument [Line Items]
Debt (excluding loan fees)	$ 507.1	$ 624.1

KWE UNSECURED BONDS - Additiona

KWE UNSECURED BONDS - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Gain (loss) on early extinguishment of debt	$ 27.5		$ (45.7)	$ (9.3)
KWE | Foreign Exchange Contract, Three | Level 2 | Designated as Hedging Instrument
Debt Instrument [Line Items]
Change in Unrealized Gains	(28.3)
KWE unsecured bonds | KWE
Debt Instrument [Line Items]
Maximum percentage of total assets		60%
Maximum ratio of consolidated secured indebtedness to total assets		50%
Interest coverage ratio		1.50
Maximum ratio of unencumbered assets to unsecured indebtedness		125%
KWE unsecured bonds | KWE | KWE Euro Medium Term Note Programme
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ (80.3)	€ (75,000,000)
Annual fixed coupon rate		3.25%
Percentage of par value	82%	82%
Gain (loss) on early extinguishment of debt	$ 13.9
Debt Instrument, Face Amount | €		€ 150,000,000
KWE unsecured bonds | KWE | KWE Notes
Debt Instrument [Line Items]
Proceeds from issuance of debt | €		€ (550,000,000)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Millions		12 Months Ended
	Oct. 02, 2020 independentContractor employee	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Related Party Transaction [Line Items]
Related party fees		$ 45.2	$ 35.3	$ 22.8
Fees eliminated from consolidation		540	453.6	454
Related Party Transaction, Trademark License Use | Management
Related Party Transaction [Line Items]
Period of license to use trademark (in years)	2 years
Extension option (in years)	2 years
Related Party Transaction, Line of Credit | Management
Related Party Transaction [Line Items]
Period of license to use trademark (in years)	3 years
Related Party Transaction, Employee Retention | Management
Related Party Transaction [Line Items]
Number of employees retained after sale | employee	110
Independent Contractors Employed | independentContractor	25
Elimination
Related Party Transaction [Line Items]
Fees eliminated from consolidation		0	0	0
Elimination | Management Service
Related Party Transaction [Line Items]
Fees eliminated from consolidation		$ 0.4	$ 0.8	$ 1.1

INCOME TAXES - Schedule of Inco

INCOME TAXES - Schedule of Income before Income Tax, Domestic and Foreign (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Domestic	$ 88.5	$ 447.6	$ (37)
Foreign	49.6	14.9	188.4
Total	$ 138.1	$ 462.5	$ 151.4

INCOME TAXES - Schedule of (Ben

INCOME TAXES - Schedule of (Benefit from) Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Federal
Current	$ 0	$ 0	$ 0
Deferred	3.6	94.4	23.3
Total federal tax expense (benefit)	3.6	94.4	23.3
State
Current	0.3	(0.2)	1.5
Deferred	11.3	9.1	0.4
Total state tax expense (benefit)	11.6	8.9	1.9
Foreign
Current	17.6	14.2	14.9
Deferred	3.4	8.7	3.5
Total foreign tax expense (benefit)	21	22.9	18.4
Provision for income taxes	$ 36.2	$ 126.2	$ 43.6

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of the Statutory Federal Income Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Statutory rate	21%
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]
Tax computed at the statutory rate	$ 29	$ 97.1	$ 31.8
Tax deduction in excess of book compensation from restricted stock vesting	0	0	0.1
Domestic permanent differences, primarily disallowed executive compensation	7.8	8.1	7.2
Foreign permanent differences, primarily non-deductible depreciation, amortization and interest expenses in the United Kingdom	1.7	8.2	2
Effect of foreign operations, net of foreign tax credit	(8.8)	7.4	(3.7)
Noncontrolling interests	(1.1)	(2.6)	(0.9)
State income taxes, net of federal benefit	2.8	7	2.9
Other	4.8	1	4.2
Provision for income taxes	$ 36.2	$ 126.2	$ 43.6

INCOME TAXES - Schedule of Defe

INCOME TAXES - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets:
Foreign currency translation	$ 5	$ 2.7
Net operating loss carryforward and credits	152	172.4
Depreciation and amortization	51.5	0
Investment basis difference	90.7	96.8
Stock option expense	2	2.2
Hedging transactions	10	7.8
Lease liability	0.1	0.1
Accrued reserves	9.5	11.1
Total deferred tax assets	320.8	293.1
Valuation allowance	(265.9)	(257.1)
Net deferred tax assets	54.9	36
Deferred tax liabilities:
Investment basis and reserve differences	344.9	285.4
Depreciation and amortization	0	3.9
Right of use asset	0.1	0.1
Prepaid expenses and other	3.7	2.2
Capitalized interest	1	1.3
Total deferred tax liabilities	349.7	292.9
Deferred tax liability, net	$ (294.8)	$ (256.9)

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2019	Apr. 05, 2019
Operating Loss Carryforwards [Line Items]
Deferred tax asset	$ 320.8	$ 293.1
Valuation allowance	265.9	257.1
Increase (decrease) in valuation on deferred tax assets	8.8	52.7
KWE
Operating Loss Carryforwards [Line Items]
Valuation allowance		75.4	$ 98.3
Foreign partnership investment basis difference		$ 76	$ 98.3
Her Majesty's Revenue and Customs (HMRC)
Operating Loss Carryforwards [Line Items]
Deferred tax asset				$ 107
Valuation allowance	143.1
Federal
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	3.4
State and Local Jurisdiction | California
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	90.9
State and Local Jurisdiction | Other States
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	11.2
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	175.5
Tax credit	92
Operating loss carryforwards due to expire	$ 0.5

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Schedule of Future Minimum Lease Payments (Details) $ in Millions	Dec. 31, 2022 USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2023	$ 1.1
2024	1
2025	1.4
2026	1.3
2027	1.3
Thereafter	33.8
Total undiscounted rental payments	$ 39.9

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Commitments [Line Items]
Rental expense	$ 0.6	$ 0.7	$ 1
Unfunded Capital Commitments To Joint Ventures
Other Commitments [Line Items]
Other commitment	246.6	113.7
Loan Platform Commitments
Other Commitments [Line Items]
Other commitment	17.7	$ 21.6
Development Project Equity Commitments
Other Commitments [Line Items]
Other commitment	$ 87.4

STOCK COMPENSATION AND OTHER _3

STOCK COMPENSATION AND OTHER RELATED PLANS - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares vested (in shares)		834,910	2,522,019
Restricted shares forfeited (in shares)		0	237,588
Compensation expense		$ 29	$ 28.7	$ 32.3
Performance allocation compensation		$ (4.3)	$ 42	0.2
Performance fees retained (as a percent)		35%
Granted (in shares)		1,221,362	619,945
Deferred Bonus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		3 years
Performance allocation compensation		$ 9.2	$ 11.8	6.4
Deferred Profit Sharing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance allocation compensation		$ (4.3)	$ 42	$ 0.2
Year One | Deferred Profit Sharing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)		4 years
Award vesting rights, percentage		60%
Year Two | Deferred Bonus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liquidity percentage		40%
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares paid for tax withholding for share-based compensation (in shares)			834,911	967,536	571,983
Payments related to tax withholding for share-based compensation		$ 18.6		$ 20.5	$ 11.6
Compensation expense		$ 29	$ 28.7	$ 32.3
2017 Amended and Restated Plan | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period (in years)	3 years
Postvesting restriction period (in years)	3 years
Discount for postvesting restrictions (as a percent)	12.50%
Unrecognized compensation cost related to unvested restricted shares			$ 32.4
Unvested shares period for recognition (in years)			3 years
Granted (in shares)			2,000,000
2017 Amended and Restated Plan | Performance Shares | MSCI Index Relative Performance
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	100%
2017 Amended and Restated Plan | Performance Shares, Restricted Stock Unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		2,800,000	2,400,000
2017 Amended and Restated Plan | Performance Shares, Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)				100,000
2017 Amended and Restated Plan | Restricted Stock, Return on Equity | Year One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%
2017 Amended and Restated Plan | Restricted Stock, Return on Equity | Year Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%
2017 Amended and Restated Plan | Restricted Stock, Return on Equity | Year Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%
2017 Amended and Restated Plan | Restricted Stock, Time-Based | Year One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%
2017 Amended and Restated Plan | Restricted Stock, Time-Based | Year Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%
2017 Amended and Restated Plan | Restricted Stock, Time-Based | Year Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage	33.33%

STOCK COMPENSATION AND OTHER _4

STOCK COMPENSATION AND OTHER RELATED PLANS - Schedule of Activity under the New Equity Plan (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Number of Shares:
Nonvested at beginning of period (in shares)	1,314,106	3,453,768
Granted (in shares)	1,221,362	619,945
Vested (in shares)	(834,910)	(2,522,019)
Forfeited (in shares)	0	(237,588)
Nonvested at end of period (in shares)	1,700,558	1,314,106

EQUITY - Preferred Stock (Detai

EQUITY - Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	12 Months Ended
	Mar. 08, 2022	Oct. 31, 2019	Dec. 31, 2022	May 31, 2022	Dec. 31, 2021
Equity [Abstract]
Preferred stock, value, issued		$ 300	$ 592.5		$ 295.2
Sale of stock, consideration received on transaction		$ 300
Preferred stock, dividend rate, percentage		5.75%
Sale of stock, price per share (in dollars per share)		$ 25
Class of Stock [Line Items]
Sale of stock, consideration received on transaction		$ 300
Preferred stock, dividend rate, percentage		5.75%
Warrants term (in years)	7 years
Number of securities callable by warrants (in shares)	13,000,000
Strike price (in USD per share)	$ 23
Private Placement
Equity [Abstract]
Preferred stock, dividend rate, percentage	4.75%
Class of Stock [Line Items]
Preferred stock, dividend rate, percentage	4.75%
Private Placement | Preferred Stock [Member]
Equity [Abstract]
Sale of stock, consideration received on transaction	$ 300
Class of Stock [Line Items]
Sale of stock, consideration received on transaction	$ 300
ATM Program
Class of Stock [Line Items]
Maximum receivable amount				$ 200
Shares issued in transaction (in shares)			0

EQUITY - Common Stock Repurchas

EQUITY - Common Stock Repurchase Program (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Nov. 03, 2020	Mar. 20, 2018
Class of Stock [Line Items]
Stock repurchase program, authorized amount				$ 500,000,000	$ 250,000,000
Shares retired due to common stock repurchase program	$ 12,600,000	$ 62,700,000	$ 45,800,000
Common Stock
Class of Stock [Line Items]
Shares retired due to common stock repurchase program (in shares)	551,162	2,824,665	2,826,644
Shares retired due to common stock repurchase program		$ 62,700,000

EQUITY - Dividend Distributions

EQUITY - Dividend Distributions (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Declared
Preferred Stock	$ 28.9	$ 17.2	$ 17.2
Common Stock	132.3	125.8	125.6
Paid
Preferred Stock	25.9	17.2	13.6
Common Stock	$ 134.6	$ 123.5	$ 126.1

EQUITY - Taxability of Dividend

EQUITY - Taxability of Dividends (Details) - $ / shares					12 Months Ended
	Oct. 08, 2020	Jul. 09, 2020	Apr. 07, 2020	Jan. 02, 2020	Dec. 31, 2022
Equity [Abstract]
Distributions Per Share (in dollars per share)	$ 0.2400	$ 0.2400	$ 0.2400	$ 0.2400	$ 0.9600
Ordinary Dividends (in dollars per share)	0.0908	0.0908	0.0908	0.0908	0.3632
Return of Capital (in dollars per share)	$ 0.1492	$ 0.1492	$ 0.1492	$ 0.1492	$ 0.5968

EQUITY - Accumulated Other Comp

EQUITY - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	$ 1,803.9
Balance at end of period	2,010.4
Accumulated other comprehensive loss	(430.1)	$ (389.6)
Total Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(31.2)
Unrealized (losses) gains, arising during the period	(27)
Taxes on unrealized losses (gains), arising during the period	(15.7)
Amounts reclassified out of AOCI during the period, gross	(1.1)
Amounts reclassified out of AOCI during the period, taxes	0.3
Noncontrolling interest	3
Balance at end of period	(71.7)
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(88.2)
Unrealized (losses) gains, arising during the period	(73.9)
Taxes on unrealized losses (gains), arising during the period	2.2
Amounts reclassified out of AOCI during the period, gross	0
Amounts reclassified out of AOCI during the period, taxes	0
Noncontrolling interest	3
Balance at end of period	(156.9)
Foreign Currency Derivative Contracts | Foreign Exchange Contract
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	58.6
Unrealized (losses) gains, arising during the period	39.5
Amounts reclassified out of AOCI during the period, gross	0
Amounts reclassified out of AOCI during the period, taxes	0
Noncontrolling interest	0
Balance at end of period	82
Foreign Currency Derivative Contracts | Interest Rate Swaps
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance at beginning of period	(1.6)
Unrealized (losses) gains, arising during the period	7.4
Taxes on unrealized losses (gains), arising during the period	(1.8)
Amounts reclassified out of AOCI during the period, gross	(1.1)
Amounts reclassified out of AOCI during the period, taxes	0.3
Noncontrolling interest	0
Balance at end of period	3.2
Interest Rate Swaps
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated other comprehensive loss	$ 358.4

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$ 64.8	$ 313.2	$ 92.9
Weighted average shares outstanding for basic (in shares)	136,900,875	138,552,058	139,741,411
Basic earnings (loss) per share (in dollars per share)	$ 0.47	$ 2.26	$ 0.66
Weighted average shares outstanding for diluted (in shares)	138,567,534	140,132,435	140,347,365
Income per diluted (in dollars per share)	$ 0.47	$ 2.24	$ 0.66
Potentially dilutive securities (in shares)	26,958,511	13,572,590	13,236,896

SEGMENT INFORMATION - Segment I

SEGMENT INFORMATION - Segment Information, by Segment (Details) $ in Millions		3 Months Ended		12 Months Ended
		Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment				2
Revenue
Total revenue				$ 540	$ 453.6	$ 454
Principal co-investments				199.5	271.1	78.3
Performance allocations				(21.1)	117.9	2.7
Income from unconsolidated investments		$ 178.4	$ 389	178.4	389	81
Gain on sale of real estate, net				103.7	412.7	338
Expenses
Share-based compensation				29	28.7	32.3
Performance allocation compensation				(4.3)	42	0.2
General and administrative				37.2	33.3	34.6
Depreciation and amortization				172.9	166.3	179.6
Total expenses				526.8	549.6	508.1
Non-operating income (expense)
Interest expense				(220.8)	(192.4)	(201.9)
Gain (loss) on early extinguishment of debt				27.5	(45.7)	(9.3)
Other income (loss)				36.1	(5)	(2.3)
Provision for income taxes				(36.2)	(126.2)	(43.6)
Net income				101.9	336.4	107.8
Net (income) loss attributable to the noncontrolling interests				(8.2)	(6)	2.3
Preferred dividends				(28.9)	(17.2)	(17.2)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders				64.8	313.2	92.9
Assets
Total assets	[1]	8,271.8	7,876.5	8,271.8	7,876.5
Expenditures for long lived assets
Investments				(569.1)	(1,271)	(264.2)
Corporate
Revenue
Total revenue				1.7	2.1	10.6
Principal co-investments				0	0	0
Performance allocations				0	0	0
Income from unconsolidated investments				0	0	0
Gain on sale of real estate, net				0	0	0
Expenses
Share-based compensation				29	28.7	32.3
Performance allocation compensation				0	0	0
General and administrative				7.7	6.3	8.1
Depreciation and amortization				0	0	0
Total expenses				61.9	68.1	71.8
Non-operating income (expense)
Gain (loss) on early extinguishment of debt				0	(26.5)	0
Other income (loss)				15.3	(0.3)	(0.9)
Provision for income taxes				(15.2)	(103.2)	(25.2)
Net income				(152.7)	(269.3)	(156.8)
Net (income) loss attributable to the noncontrolling interests				0	0	0
Preferred dividends				(28.9)	(17.2)	(17.2)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders				(181.6)	(286.5)	(174)
Assets
Total assets		200.2	324.7	200.2	324.7
Rental
Revenue
Total revenue				434.9	390.5	403.9
Expenses
Cost of goods sold				151.2	132.7	135.7
Rental | Corporate
Revenue
Total revenue				0	0	0
Expenses
Cost of goods sold				0	0	0
Hotel
Revenue
Total revenue				46.9	17.1	13.9
Expenses
Cost of goods sold				29.5	12.7	13.8
Hotel | Corporate
Revenue
Total revenue				0	0	0
Expenses
Cost of goods sold				0	0	0
Property service fees
Revenue
Total revenue				1.7	2.1	10.6
Property service fees | Corporate
Revenue
Total revenue				1.7	2.1	10.6
Loans and other
Revenue
Total revenue				11.7	8.6	3.1
Loans and other | Corporate
Revenue
Total revenue				0	0	0
Investment management fees
Revenue
Total revenue				44.8	35.3	22.5
Investment management fees | Corporate
Revenue
Total revenue					0	0
Compensation and related
Expenses
Cost of goods sold				111.3	133.9	111.9
Compensation and related | Corporate
Expenses
Cost of goods sold				25.2	33.1	31.4
Co-Investments | Operating Segments
Revenue
Total revenue				56.5	43.9	25.6
Principal co-investments				199.5	271.1	78.3
Performance allocations				(21.1)	117.9	2.7
Income from unconsolidated investments				178.4	389	81
Gain on sale of real estate, net				0	0	0
Expenses
Share-based compensation				0	0	0
Performance allocation compensation				(4.3)	42	0.2
General and administrative				14.8	8.5	5.9
Depreciation and amortization				0	0	0
Total expenses				55.1	90.9	26.9
Non-operating income (expense)
Interest expense				0	0	0
Gain (loss) on early extinguishment of debt				0	0	0
Other income (loss)				0	0	0
Provision for income taxes				0	0	0
Net income				179.8	342	79.7
Net (income) loss attributable to the noncontrolling interests				0	0	0
Preferred dividends				0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders				179.8	342	79.7
Assets
Total assets		2,387.5	2,077.9	2,387.5	2,077.9
Co-Investments | Corporate
Non-operating income (expense)
Interest expense				(92.6)	(73.3)	(69.5)
Co-Investments | Rental | Operating Segments
Revenue
Total revenue				0	0	0
Expenses
Cost of goods sold				0	0	0
Co-Investments | Hotel | Operating Segments
Revenue
Total revenue				0	0	0
Expenses
Cost of goods sold				0	0	0
Co-Investments | Property service fees | Operating Segments
Revenue
Total revenue				0	0	0
Co-Investments | Loans and other | Operating Segments
Revenue
Total revenue				11.7	8.6	3.1
Co-Investments | Investment management fees | Operating Segments
Revenue
Total revenue				44.8	35.3	22.5
Co-Investments | Compensation and related | Operating Segments
Expenses
Cost of goods sold				44.6	40.4	20.8
Consolidated | Operating Segments
Revenue
Total revenue				481.8	407.6	417.8
Principal co-investments				0	0	0
Performance allocations				0	0	0
Income from unconsolidated investments				0	0	0
Gain on sale of real estate, net				103.7	412.7	338
Expenses
Share-based compensation				0	0	0
Performance allocation compensation				0	0	0
General and administrative				14.7	18.5	20.6
Depreciation and amortization				172.9	166.3	179.6
Total expenses				409.8	390.6	409.4
Non-operating income (expense)
Interest expense				(128.2)	(119.1)	(132.4)
Gain (loss) on early extinguishment of debt				27.5	(19.2)	(9.3)
Other income (loss)				20.8	(4.7)	(1.4)
Provision for income taxes				(21)	(23)	(18.4)
Net income				74.8	263.7	184.9
Net (income) loss attributable to the noncontrolling interests				(8.2)	(6)	2.3
Preferred dividends				0	0	0
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders				66.6	257.7	187.2
Assets
Total assets		$ 5,684.1	$ 5,473.9	5,684.1	5,473.9
Consolidated | Rental | Operating Segments
Revenue
Total revenue				434.9	390.5	403.9
Expenses
Cost of goods sold				151.2	132.7	135.7
Consolidated | Hotel | Operating Segments
Revenue
Total revenue				46.9	17.1	13.9
Expenses
Cost of goods sold				29.5	12.7	13.8
Consolidated | Property service fees | Operating Segments
Revenue
Total revenue				0	0	0
Consolidated | Loans and other | Operating Segments
Revenue
Total revenue				0	0	0
Consolidated | Investment management fees | Operating Segments
Revenue
Total revenue				0	0	0
Consolidated | Compensation and related | Operating Segments
Expenses
Cost of goods sold				$ 41.5	$ 60.4	$ 59.7
Minimum | Co-Investments
Segment Reporting Information [Line Items]
Average ownership interest in investments		5%		5%
Maximum | Co-Investments
Segment Reporting Information [Line Items]
Average ownership interest in investments		50%		50%
[1]The assets and liabilities as of December 31, 2022 include $169.8 million (including cash held by consolidated investments of $6.1 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $137.8 million) and $82.4 million (including investment debt of $51.2 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2021 include $189.6 million (including cash held by consolidated investments of $11.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $152.8 million) and $129.2 million (including investment debt of $103.3 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

SEGMENT INFORMATION - Revenue b

SEGMENT INFORMATION - Revenue by Geographical Region (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 540	$ 453.6	$ 454
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	317.5	278.1	277.3
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 222.5	$ 175.5	$ 176.7

GUARANTOR AND NON-GUARANTOR F_3

GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Millions		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents		$ 439.3	$ 524.8
Accounts receivable		40.8	36.1
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		5,188.1	5,059.8
Unconsolidated investments		2,238.1	1,947.6
Investments in and advances to consolidated subsidiaries		0	0
Other assets		216.1	177.9
Loan purchases and originations		149.4	130.3
Total assets	[1]	8,271.8	7,876.5
Liabilities
Accounts payable		16.2	18.6
Accrued expenses and other liabilities		658.2	619.1
Total liabilities	[1]	6,261.4	6,072.6
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,964	1,777.6
Noncontrolling interests		46.4	26.3
Total equity		2,010.4	1,803.9	$ 1,672.7	$ 1,719.2
Total liabilities and equity		8,271.8	7,876.5
Mortgage debt
Liabilities
Debt		3,018	2,959.8
KW unsecured debt
Liabilities
Debt		2,062.6	1,852.3
KWE unsecured bonds
Liabilities
Debt		506.4	622.8
Reportable Legal Entities | Parent
Assets
Cash and cash equivalents		0	0
Accounts receivable		0	0
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		0	0
Unconsolidated investments		0	0
Investments in and advances to consolidated subsidiaries		2,009	1,821.9
Other assets		0	0
Loan purchases and originations		0	0
Total assets		2,009	1,821.9
Liabilities
Accounts payable		0	0
Accrued expenses and other liabilities		45	44.3
Total liabilities		45	44.3
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		1,964	1,777.6
Noncontrolling interests		0	0
Total equity		1,964	1,777.6
Total liabilities and equity		2,009	1,821.9
Reportable Legal Entities | Parent | Mortgage debt
Liabilities
Debt		0	0
Reportable Legal Entities | Parent | KW unsecured debt
Liabilities
Debt		0	0
Reportable Legal Entities | Parent | KWE unsecured bonds
Liabilities
Debt		0	0
Reportable Legal Entities | Kennedy-Wilson, Inc.
Assets
Cash and cash equivalents		91.5	116.4
Accounts receivable		0.1	0
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		0	0
Unconsolidated investments		15.9	14.8
Investments in and advances to consolidated subsidiaries		4,289.3	3,859.2
Other assets		85.7	65.9
Loan purchases and originations		5.8	6.1
Total assets		4,488.3	4,062.4
Liabilities
Accounts payable		0.5	1
Accrued expenses and other liabilities		416.2	387.2
Total liabilities		2,479.3	2,240.5
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		2,009	1,821.9
Noncontrolling interests		0	0
Total equity		2,009	1,821.9
Total liabilities and equity		4,488.3	4,062.4
Reportable Legal Entities | Kennedy-Wilson, Inc. | Mortgage debt
Liabilities
Debt		0	0
Reportable Legal Entities | Kennedy-Wilson, Inc. | KW unsecured debt
Liabilities
Debt		2,062.6	1,852.3
Reportable Legal Entities | Kennedy-Wilson, Inc. | KWE unsecured bonds
Liabilities
Debt		0	0
Reportable Legal Entities | Guarantor Subsidiaries
Assets
Cash and cash equivalents		59.6	69.1
Accounts receivable		18.2	16
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		1,656.8	1,729.1
Unconsolidated investments		698.6	618
Investments in and advances to consolidated subsidiaries		2,850	2,488.1
Other assets		50.5	51.6
Loan purchases and originations		111.6	61.5
Total assets		5,445.3	5,033.4
Liabilities
Accounts payable		4	4
Accrued expenses and other liabilities		76.5	78
Total liabilities		1,156	1,174.2
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		4,289.3	3,859.2
Noncontrolling interests		0	0
Total equity		4,289.3	3,859.2
Total liabilities and equity		5,445.3	5,033.4
Reportable Legal Entities | Guarantor Subsidiaries | Mortgage debt
Liabilities
Debt		1,075.5	1,092.2
Reportable Legal Entities | Guarantor Subsidiaries | KW unsecured debt
Liabilities
Debt		0	0
Reportable Legal Entities | Guarantor Subsidiaries | KWE unsecured bonds
Liabilities
Debt		0	0
Reportable Legal Entities | Non-guarantor Subsidiaries
Assets
Cash and cash equivalents		288.2	339.3
Accounts receivable		22.5	20.1
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		3,531.3	3,330.7
Unconsolidated investments		1,523.6	1,314.8
Investments in and advances to consolidated subsidiaries		0	0
Other assets		79.9	60.4
Loan purchases and originations		32	62.7
Total assets		5,477.5	5,128
Liabilities
Accounts payable		11.7	13.6
Accrued expenses and other liabilities		120.5	109.6
Total liabilities		2,581.1	2,613.6
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		2,850	2,488.1
Noncontrolling interests		46.4	26.3
Total equity		2,896.4	2,514.4
Total liabilities and equity		5,477.5	5,128
Reportable Legal Entities | Non-guarantor Subsidiaries | Mortgage debt
Liabilities
Debt		1,942.5	1,867.6
Reportable Legal Entities | Non-guarantor Subsidiaries | KW unsecured debt
Liabilities
Debt		0	0
Reportable Legal Entities | Non-guarantor Subsidiaries | KWE unsecured bonds
Liabilities
Debt		506.4	622.8
Elimination
Assets
Cash and cash equivalents		0	0
Accounts receivable		0	0
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net		0	0
Unconsolidated investments		0	0
Investments in and advances to consolidated subsidiaries		(9,148.3)	(8,169.2)
Other assets		0	0
Loan purchases and originations		0	0
Total assets		(9,148.3)	(8,169.2)
Liabilities
Accounts payable		0	0
Accrued expenses and other liabilities		0	0
Total liabilities		0	0
Equity
Kennedy-Wilson Holdings, Inc. shareholders' equity		(9,148.3)	(8,169.2)
Noncontrolling interests		0	0
Total equity		(9,148.3)	(8,169.2)
Total liabilities and equity		(9,148.3)	(8,169.2)
Elimination | Mortgage debt
Liabilities
Debt		0	0
Elimination | KW unsecured debt
Liabilities
Debt		0	0
Elimination | KWE unsecured bonds
Liabilities
Debt		$ 0
[1]The assets and liabilities as of December 31, 2022 include $169.8 million (including cash held by consolidated investments of $6.1 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $137.8 million) and $82.4 million (including investment debt of $51.2 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2021 include $189.6 million (including cash held by consolidated investments of $11.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $152.8 million) and $129.2 million (including investment debt of $103.3 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.

GUARANTOR AND NON-GUARANTOR F_4

GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS - Consolidating Statement of Income (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenue
Total revenue			$ 540	$ 453.6	$ 454
Expenses
General and administrative			37.2	33.3	34.6
Depreciation and amortization			172.9	166.3	179.6
Total expenses			526.8	549.6	508.1
Income from unconsolidated investments	$ 178.4	$ 389	178.4	389	81
Income from consolidated subsidiaries			0	0	0
Non-operating income (expense)
Gain on sale of real estate, net			103.7	412.7	338
Interest expense			(220.8)	(192.4)	(201.9)
Gain (loss) on early extinguishment of debt			27.5	(45.7)	(9.3)
Other income (loss)			36.1	(5)	(2.3)
Income before provision for income taxes			138.1	462.6	151.4
Provision for income taxes			(36.2)	(126.2)	(43.6)
Net income			101.9	336.4	107.8
Net income attributable to the noncontrolling interests			(8.2)	(6)	2.3
Preferred dividends			(28.9)	(17.2)	(17.2)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders			64.8	313.2	92.9
Reportable Legal Entities | Parent
Revenue
Total revenue			0	0	0
Expenses
Total expenses			29	31.8	33.5
Income from unconsolidated investments			0	0	0
Income from consolidated subsidiaries			130.8	368.2	141.3
Non-operating income (expense)
Gain on sale of real estate, net			0	0	0
Interest expense			0	0	0
Gain (loss) on early extinguishment of debt			0	0	0
Other income (loss)			0.1	0
Income before provision for income taxes			101.9	336.4	107.8
Provision for income taxes			0	0	0
Net income			101.9	336.4	107.8
Net income attributable to the noncontrolling interests			0	0	0
Preferred dividends			(28.9)	(17.2)	(17.2)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders			73	319.2	90.6
Reportable Legal Entities | Kennedy-Wilson, Inc.
Revenue
Total revenue			0.2	0.3	0
Expenses
Total expenses			92.7	108.1	86.7
Income from unconsolidated investments			1.1	3.2	0.6
Income from consolidated subsidiaries			314.4	676.8	320.1
Non-operating income (expense)
Gain on sale of real estate, net			0	(1.7)	0
Interest expense			(92.6)	(73.3)	(69.5)
Gain (loss) on early extinguishment of debt			0	(26.5)	0
Other income (loss)			15.6	0.7	2
Income before provision for income taxes			146	471.4	166.5
Provision for income taxes			(15.2)	(103.2)	(25.2)
Net income			130.8	368.2	141.3
Net income attributable to the noncontrolling interests			0	0	0
Preferred dividends			0	0	0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders			130.8	368.2	141.3
Reportable Legal Entities | Guarantor Subsidiaries
Revenue
Total revenue			225.1	208.8	218.6
Expenses
Total expenses			172.5	214.8	201
Income from unconsolidated investments			12	99	(0.6)
Income from consolidated subsidiaries			230.7	508.7	294
Non-operating income (expense)
Gain on sale of real estate, net			68.1	129.6	65.9
Interest expense			(41.8)	(43.3)	(48.6)
Gain (loss) on early extinguishment of debt			(1.6)	(0.6)	(3.7)
Other income (loss)			(1.3)	(1.2)	(3.8)
Income before provision for income taxes			318.7	686.2	320.8
Provision for income taxes			(4.3)	(9.4)	(0.7)
Net income			314.4	676.8	320.1
Net income attributable to the noncontrolling interests			0	0	0
Preferred dividends			0	0	0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders			314.4	676.8	320.1
Reportable Legal Entities | Non-guarantor Subsidiaries
Revenue
Total revenue			314.7	244.5	235.4
Expenses
Total expenses			232.6	194.9	186.9
Income from unconsolidated investments			165.3	286.8	81
Income from consolidated subsidiaries			0	0	0
Non-operating income (expense)
Gain on sale of real estate, net			35.6	284.8	272.1
Interest expense			(86.4)	(75.8)	(83.8)
Gain (loss) on early extinguishment of debt			29.1	(18.6)	(5.6)
Other income (loss)			21.7	(4.5)	(0.5)
Income before provision for income taxes			247.4	522.3	311.7
Provision for income taxes			(16.7)	(13.6)	(17.7)
Net income			230.7	508.7	294
Net income attributable to the noncontrolling interests			(8.2)	(6)	2.3
Preferred dividends			0	0	0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders			222.5	502.7	296.3
Elimination
Revenue
Total revenue			0	0	0
Expenses
Total expenses			0	0	0
Income from unconsolidated investments			0	0	0
Income from consolidated subsidiaries			(675.9)	(1,553.7)	(755.4)
Non-operating income (expense)
Gain on sale of real estate, net			0	0	0
Interest expense			0
Gain (loss) on early extinguishment of debt			0	0	0
Other income (loss)			0		0
Income before provision for income taxes			(675.9)	(1,553.7)	(755.4)
Provision for income taxes			0	0	0
Net income			(675.9)	(1,553.7)	(755.4)
Net income attributable to the noncontrolling interests			0	0	0
Preferred dividends			0	0	0
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders			$ (675.9)	$ (1,553.7)	$ (755.4)

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) a Unit lot	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 3,034.5
Initial Cost
Land	1,339.3
Building & Improvements	4,156.7
Costs Capitalized Subsequent to Acquisition
Improvements	494.2
Gross Balance at December 31, 2020
Land	1,319.2
Building & Improvements	4,456.1
Total	5,775.3	$ 5,567.3	$ 5,207.7	$ 5,430.5
Accumulated Depreciation	(619.6)	$ (564)	$ (551.8)	$ (466.8)
Aggregate tax basis of all properties	4,844.5
Southern California | Commercial | Office, Constructed 1955, 1981, 1982
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	35
Initial Cost
Land	11.2
Building & Improvements	18.5
Costs Capitalized Subsequent to Acquisition
Improvements	34.8
Gross Balance at December 31, 2020
Land	11.5
Building & Improvements	54.3
Total	65.8
Accumulated Depreciation	$ (10.3)
Depreciable Life in Years	39 years
Southern California | Commercial | Retail, Constructed 1985
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 27
Initial Cost
Land	9.1
Building & Improvements	14
Costs Capitalized Subsequent to Acquisition
Improvements	13.8
Gross Balance at December 31, 2020
Land	9.1
Building & Improvements	27.8
Total	36.9
Accumulated Depreciation	$ (4.9)
Depreciable Life in Years	39 years
Southern California | Commercial | Office, Constructed 1982
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 22.4
Initial Cost
Land	31.8
Building & Improvements	60.6
Costs Capitalized Subsequent to Acquisition
Improvements	22.1
Gross Balance at December 31, 2020
Land	31.8
Building & Improvements	82.6
Total	114.4
Accumulated Depreciation	$ (18.5)
Depreciable Life in Years	39 years
Southern California | Commercial | Office, Constructed 1968
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 28.8
Initial Cost
Land	11.6
Building & Improvements	36.5
Costs Capitalized Subsequent to Acquisition
Improvements	5.3
Gross Balance at December 31, 2020
Land	11.6
Building & Improvements	41.8
Total	53.4
Accumulated Depreciation	$ (10.3)
Depreciable Life in Years	39 years
Southern California | Commercial | Office 2, Constructed 1982
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 35
Initial Cost
Land	20.7
Building & Improvements	47.9
Costs Capitalized Subsequent to Acquisition
Improvements	26.1
Gross Balance at December 31, 2020
Land	20.7
Building & Improvements	53.9
Total	74.6
Accumulated Depreciation	$ (12)
Depreciable Life in Years	39 years
Southern California | Multifamily | 460-Unit Multifamily Building, Constructed 1988
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 46.7
Initial Cost
Land	13.2
Building & Improvements	53
Costs Capitalized Subsequent to Acquisition
Improvements	7.1
Gross Balance at December 31, 2020
Land	13.2
Building & Improvements	60.1
Total	73.3
Accumulated Depreciation	$ (14.9)
Depreciable Life in Years	39 years
Number of units | Unit	460
Southern California | Multifamily | 386-Unit Multifamily Building, Constructed 2002
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 66
Initial Cost
Land	0
Building & Improvements	81.4
Costs Capitalized Subsequent to Acquisition
Improvements	9.4
Gross Balance at December 31, 2020
Land	0
Building & Improvements	90.8
Total	90.8
Accumulated Depreciation	$ (18)
Depreciable Life in Years	39 years
Number of units | Unit	386
Southern California | Multifamily | Land 1 Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	0.6
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	27.9
Building & Improvements	0
Total	27.9
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Southern California | Development | Multifamily Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	6
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	4
Gross Balance at December 31, 2020
Land	6
Building & Improvements	4
Total	10
Accumulated Depreciation	0
Mountain West | Commercial | Retail, Constructed 1981
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	1.1
Initial Cost
Land	0.5
Building & Improvements	1.2
Costs Capitalized Subsequent to Acquisition
Improvements	0.4
Gross Balance at December 31, 2020
Land	0.5
Building & Improvements	1.7
Total	2.2
Accumulated Depreciation	$ (0.4)
Depreciable Life in Years	39 years
Mountain West | Commercial | Retail, Constructed 1980, 1983
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 3.5
Initial Cost
Land	2.6
Building & Improvements	5.6
Costs Capitalized Subsequent to Acquisition
Improvements	1.2
Gross Balance at December 31, 2020
Land	2.6
Building & Improvements	6.9
Total	9.5
Accumulated Depreciation	$ (1.5)
Depreciable Life in Years	39 years
Mountain West | Commercial | Retail, Constructed 1961
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 6
Initial Cost
Land	2
Building & Improvements	9.5
Costs Capitalized Subsequent to Acquisition
Improvements	4.3
Gross Balance at December 31, 2020
Land	2
Building & Improvements	13.8
Total	15.8
Accumulated Depreciation	$ (1.8)
Depreciable Life in Years	39 years
Mountain West | Multifamily | 366-unit Apartment building, Constructed 2000
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 50.4
Initial Cost
Land	9.1
Building & Improvements	36.3
Costs Capitalized Subsequent to Acquisition
Improvements	13.8
Gross Balance at December 31, 2020
Land	9.1
Building & Improvements	50.1
Total	59.2
Accumulated Depreciation	$ (20.9)
Depreciable Life in Years	39 years
Number of units | Unit	366
Mountain West | Multifamily | 204-Unit Multifamily Building, Constructed 1999
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 14.3
Initial Cost
Land	2
Building & Improvements	17.6
Costs Capitalized Subsequent to Acquisition
Improvements	4.2
Gross Balance at December 31, 2020
Land	1.9
Building & Improvements	21.8
Total	23.7
Accumulated Depreciation	$ (5.3)
Depreciable Life in Years	39 years
Number of units | Unit	204
Mountain West | Multifamily | 168-Unit Multifamily Building, Constructed 1992
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 10.9
Initial Cost
Land	1.8
Building & Improvements	13.1
Costs Capitalized Subsequent to Acquisition
Improvements	4
Gross Balance at December 31, 2020
Land	1.8
Building & Improvements	17
Total	18.8
Accumulated Depreciation	$ (4.3)
Depreciable Life in Years	39 years
Number of units | Unit	168
Mountain West | Multifamily | 300-Unit Multifamily Building, Constructed 1995
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 39
Initial Cost
Land	4.8
Building & Improvements	29.2
Costs Capitalized Subsequent to Acquisition
Improvements	6.6
Gross Balance at December 31, 2020
Land	4.8
Building & Improvements	35.8
Total	40.6
Accumulated Depreciation	$ (6.5)
Depreciable Life in Years	39 years
Number of units | Unit	300
Mountain West | Multifamily | 200-Unit Multifamily Building, Constructed 2012
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 20.6
Initial Cost
Land	1.4
Building & Improvements	25.9
Costs Capitalized Subsequent to Acquisition
Improvements	1.2
Gross Balance at December 31, 2020
Land	1.4
Building & Improvements	27.1
Total	28.5
Accumulated Depreciation	$ (4)
Depreciable Life in Years	39 years
Number of units | Unit	200
Mountain West | Multifamily | 174-Unit Multifamily Building
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	0.2
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	34.3
Building & Improvements	0
Total	34.3
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Number of units | Unit	172
Mountain West | Multifamily | 88-Unit Multifamily Building Constructed 1988
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 8.6
Initial Cost
Land	2.6
Building & Improvements	10.4
Costs Capitalized Subsequent to Acquisition
Improvements	1.8
Gross Balance at December 31, 2020
Land	2.6
Building & Improvements	12.2
Total	14.8
Accumulated Depreciation	$ (2.2)
Depreciable Life in Years	39 years
Number of units | Unit	88
Mountain West | Multifamily | 492-Unit Multifamily Building Constructed 1985
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 59.1
Initial Cost
Land	15.8
Building & Improvements	63.2
Costs Capitalized Subsequent to Acquisition
Improvements	7.9
Gross Balance at December 31, 2020
Land	15.9
Building & Improvements	71.1
Total	87
Accumulated Depreciation	$ (11.3)
Depreciable Life in Years	39 years
Number of units | Unit	492
Mountain West | Multifamily | 66 Unit Multifamily Building Constructed 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 8
Initial Cost
Land	0.8
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	0.7
Building & Improvements	9.2
Total	9.9
Accumulated Depreciation	$ (0.5)
Depreciable Life in Years	39 years
Number of units | Unit	66
Mountain West | Multifamily | Land 3 Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 10.2
Initial Cost
Land	2.1
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	2
Building & Improvements	21
Total	23
Accumulated Depreciation	$ (0.2)
Depreciable Life in Years	39 years
Mountain West | Multifamily | 293-Unit Multifamily Building Constructed 1995
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 19.9
Initial Cost
Land	7.2
Building & Improvements	28.8
Costs Capitalized Subsequent to Acquisition
Improvements	1.1
Gross Balance at December 31, 2020
Land	7.2
Building & Improvements	29.9
Total	37.1
Accumulated Depreciation	$ (3.8)
Depreciable Life in Years	39 years
Number of units | Unit	293
Mountain West | Multifamily | 188-Unit Multifamily Building Constructed 1985
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 13.5
Initial Cost
Land	4.9
Building & Improvements	19.7
Costs Capitalized Subsequent to Acquisition
Improvements	7.9
Gross Balance at December 31, 2020
Land	4.9
Building & Improvements	27.5
Total	32.4
Accumulated Depreciation	$ (4.7)
Depreciable Life in Years	39 years
Number of units | Unit	188
Mountain West | Multifamily | Land 4 Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 32.3
Initial Cost
Land	5.7
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0.4
Gross Balance at December 31, 2020
Land	1.9
Building & Improvements	38.1
Total	40
Accumulated Depreciation	$ (2.2)
Depreciable Life in Years	39 years
Number of units | Unit	120
Mountain West | Multifamily | Land 1 Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 62.2
Initial Cost
Land	4
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	6.9
Gross Balance at December 31, 2020
Land	2.7
Building & Improvements	55.3
Total	58
Accumulated Depreciation	$ (3.8)
Depreciable Life in Years	39 years
Number of units | Unit	277
Mountain West | Multifamily | Land 2 Acquired 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	0
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	0
Building & Improvements	2.3
Total	2.3
Accumulated Depreciation	$ (0.1)
Depreciable Life in Years	39 years
Number of units | Unit	10
Mountain West | Multifamily | 360-Unit Multifamily Building Constructed 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 70
Initial Cost
Land	16.4
Building & Improvements	65.7
Costs Capitalized Subsequent to Acquisition
Improvements	1.9
Gross Balance at December 31, 2020
Land	16.4
Building & Improvements	67.6
Total	84
Accumulated Depreciation	$ (5.4)
Depreciable Life in Years	39 years
Number of units | Unit	360
Mountain West | Multifamily | 260-Unit Multifamily Building Constructed 2014
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 39.4
Initial Cost
Land	13.4
Building & Improvements	53.6
Costs Capitalized Subsequent to Acquisition
Improvements	2.9
Gross Balance at December 31, 2020
Land	13.4
Building & Improvements	56.6
Total	70
Accumulated Depreciation	$ (3.4)
Depreciable Life in Years	39 years
Number of units | Unit	260
Mountain West | Multifamily | 280 Multifamily Building Constructed 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 39.6
Initial Cost
Land	13.3
Building & Improvements	53.2
Costs Capitalized Subsequent to Acquisition
Improvements	0.2
Gross Balance at December 31, 2020
Land	13.3
Building & Improvements	53.4
Total	66.7
Accumulated Depreciation	$ (2.3)
Depreciable Life in Years	39 years
Number of units | Unit	280
Mountain West | Multifamily | Land 1 Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	0
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	1
Building & Improvements	0
Total	1
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Mountain West | Multifamily | 344-Unit Multifamily Building Constructed 1985
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 39.2
Initial Cost
Land	13
Building & Improvements	52.1
Costs Capitalized Subsequent to Acquisition
Improvements	4
Gross Balance at December 31, 2020
Land	13
Building & Improvements	56.1
Total	69.1
Accumulated Depreciation	$ (2.3)
Depreciable Life in Years	39 years
Number of units | Unit	344
Mountain West | Multifamily | Land 2 Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 16.6
Initial Cost
Land	4.6
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	36.4
Building & Improvements	0
Total	36.4
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Mountain West | Multifamily | 240-Unit Multifamily Building Constructed 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 45.1
Initial Cost
Land	11.1
Building & Improvements	44.3
Costs Capitalized Subsequent to Acquisition
Improvements	1
Gross Balance at December 31, 2020
Land	11.1
Building & Improvements	45.8
Total	56.9
Accumulated Depreciation	$ (1.8)
Depreciable Life in Years	39 years
Number of units | Unit	240
Mountain West | Multifamily | 160-Unit Multifamily Building Constructed 1990 And 1998
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 13.9
Initial Cost
Land	4.5
Building & Improvements	17.9
Costs Capitalized Subsequent to Acquisition
Improvements	0.3
Gross Balance at December 31, 2020
Land	4.5
Building & Improvements	18.3
Total	22.8
Accumulated Depreciation	$ (0.7)
Depreciable Life in Years	39 years
Number of units | Unit	160
Mountain West | Multifamily | 332-Unit Multifamily Building Constructed 2002
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 76.2
Initial Cost
Land	26.7
Building & Improvements	106.9
Costs Capitalized Subsequent to Acquisition
Improvements	2.2
Gross Balance at December 31, 2020
Land	26.7
Building & Improvements	109
Total	135.7
Accumulated Depreciation	$ (3.6)
Depreciable Life in Years	39 years
Number of units | Unit	332
Mountain West | Multifamily | 528-Unit Multifamily Building Constructed 1989 and 1990
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 102
Initial Cost
Land	31.1
Building & Improvements	124.4
Costs Capitalized Subsequent to Acquisition
Improvements	2.9
Gross Balance at December 31, 2020
Land	31.1
Building & Improvements	127.3
Total	158.4
Accumulated Depreciation	$ (3.4)
Depreciable Life in Years	39 years
Number of units | Unit	528
Mountain West | Multifamily | Land 3 Acquired 2021
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 7.8
Initial Cost
Land	8
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	22.4
Building & Improvements	0
Total	22.4
Accumulated Depreciation	$ 0
Depreciable Life in Years	39 years
Mountain West | Multifamily | 350-Unit Multifamily Building Constructed 1985
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 64.9
Initial Cost
Land	33.2
Building & Improvements	132.6
Costs Capitalized Subsequent to Acquisition
Improvements	0.9
Gross Balance at December 31, 2020
Land	33.2
Building & Improvements	133.5
Total	166.7
Accumulated Depreciation	$ (2.3)
Depreciable Life in Years	39 years
Number of units | Unit	350
Mountain West | Multifamily | 404-Unit Multifamily Building Constructed 1996
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 61.6
Initial Cost
Land	29.6
Building & Improvements	118.3
Costs Capitalized Subsequent to Acquisition
Improvements	0.4
Gross Balance at December 31, 2020
Land	29.6
Building & Improvements	118.7
Total	148.3
Accumulated Depreciation	$ (2)
Depreciable Life in Years	39 years
Number of units | Unit	404
Mountain West | Multifamily | 356-Unit Multifamily Building Constructed 1995 And 2008
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 41
Initial Cost
Land	20.8
Building & Improvements	83.1
Costs Capitalized Subsequent to Acquisition
Improvements	1
Gross Balance at December 31, 2020
Land	20.8
Building & Improvements	84.1
Total	104.9
Accumulated Depreciation	$ (1.5)
Depreciable Life in Years	39 years
Number of units | Unit	356
Mountain West | Multifamily | 260-Unit Multifamily Building Constructed 2013
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 34
Initial Cost
Land	15.7
Building & Improvements	62.6
Costs Capitalized Subsequent to Acquisition
Improvements	0.3
Gross Balance at December 31, 2020
Land	15.7
Building & Improvements	62.9
Total	78.6
Accumulated Depreciation	$ (0.6)
Depreciable Life in Years	39 years
Number of units | Unit	260
United Kingdom | Commercial | Commercial Portfolio 1, Acquired 2014
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	16.6
Building & Improvements	3.9
Costs Capitalized Subsequent to Acquisition
Improvements	5.6
Gross Balance at December 31, 2020
Land	1.2
Building & Improvements	15.5
Total	16.7
Accumulated Depreciation	$ (3.3)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Commercial Portfolio 2, Acquired 2014
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 30.2
Initial Cost
Land	47.9
Building & Improvements	249
Costs Capitalized Subsequent to Acquisition
Improvements	10.9
Gross Balance at December 31, 2020
Land	28.5
Building & Improvements	182.6
Total	211.1
Accumulated Depreciation	$ (46.9)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Office, Constructed 2003
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 173.6
Initial Cost
Land	85.3
Building & Improvements	232
Costs Capitalized Subsequent to Acquisition
Improvements	26.6
Gross Balance at December 31, 2020
Land	74.1
Building & Improvements	204
Total	278.1
Accumulated Depreciation	$ (55)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Retail, Constructed 2010
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	6.2
Building & Improvements	109.5
Costs Capitalized Subsequent to Acquisition
Improvements	7.3
Gross Balance at December 31, 2020
Land	4.5
Building & Improvements	87.2
Total	91.7
Accumulated Depreciation	$ (19)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Commercial Portfolio 1, Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 165.8
Initial Cost
Land	86.7
Building & Improvements	159.7
Costs Capitalized Subsequent to Acquisition
Improvements	7.8
Gross Balance at December 31, 2020
Land	58.7
Building & Improvements	108.6
Total	167.3
Accumulated Depreciation	$ (21.5)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Office Portfolio, Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	19
Building & Improvements	41.2
Costs Capitalized Subsequent to Acquisition
Improvements	17.6
Gross Balance at December 31, 2020
Land	20
Building & Improvements	41.4
Total	61.4
Accumulated Depreciation	$ (5.6)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Office Portfolio, Acquired 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 61.4
Initial Cost
Land	32.1
Building & Improvements	70.4
Costs Capitalized Subsequent to Acquisition
Improvements	5.9
Gross Balance at December 31, 2020
Land	26.8
Building & Improvements	64.6
Total	91.4
Accumulated Depreciation	$ (11.3)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Office Constructed 2001 And 2007
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 38.5
Initial Cost
Land	25.3
Building & Improvements	54.8
Costs Capitalized Subsequent to Acquisition
Improvements	0.5
Gross Balance at December 31, 2020
Land	22.7
Building & Improvements	49.4
Total	72.1
Accumulated Depreciation	$ (1.3)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Office Constructed 2004
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 49.8
Initial Cost
Land	25.5
Building & Improvements	74.1
Costs Capitalized Subsequent to Acquisition
Improvements	0.8
Gross Balance at December 31, 2020
Land	23
Building & Improvements	67.4
Total	90.4
Accumulated Depreciation	$ (1.7)
Depreciable Life in Years	39 years
United Kingdom | Commercial | Office Constructed 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 118.1
Initial Cost
Land	71.2
Building & Improvements	177.9
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	62
Building & Improvements	155
Total	217
Accumulated Depreciation	$ (5.8)
Depreciable Life in Years	39 years
United Kingdom | Development | Land Acquired 2018
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial Cost
Land	4.2
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0.1
Gross Balance at December 31, 2020
Land	3.6
Building & Improvements	0.4
Total	4
Accumulated Depreciation	0
Ireland | Commercial | Office, Constructed 2003
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	71.6
Initial Cost
Land	8.2
Building & Improvements	102.6
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	6.4
Building & Improvements	80.7
Total	87.1
Accumulated Depreciation	$ (17.1)
Depreciable Life in Years	39 years
Ireland | Commercial | Retail, Constructed 1966 And 2005
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 80.8
Initial Cost
Land	59.8
Building & Improvements	83.1
Costs Capitalized Subsequent to Acquisition
Improvements	24.3
Gross Balance at December 31, 2020
Land	46.9
Building & Improvements	88.7
Total	135.6
Accumulated Depreciation	$ (15.8)
Depreciable Life in Years	39 years
Ireland | Commercial | Office, Constructed 1980
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 61.6
Initial Cost
Land	20.4
Building & Improvements	73.8
Costs Capitalized Subsequent to Acquisition
Improvements	5.4
Gross Balance at December 31, 2020
Land	16.1
Building & Improvements	63.4
Total	79.5
Accumulated Depreciation	$ (14.9)
Depreciable Life in Years	39 years
Ireland | Commercial | Office Building, Constructed 2007
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	2
Building & Improvements	11.9
Costs Capitalized Subsequent to Acquisition
Improvements	0.2
Gross Balance at December 31, 2020
Land	1.9
Building & Improvements	11.7
Total	13.6
Accumulated Depreciation	$ (2)
Depreciable Life in Years	39 years
Ireland | Commercial | Office, Constructed 2009, Acquired 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 37.5
Initial Cost
Land	4.2
Building & Improvements	64
Costs Capitalized Subsequent to Acquisition
Improvements	2
Gross Balance at December 31, 2020
Land	3.9
Building & Improvements	61.5
Total	65.4
Accumulated Depreciation	$ (10.2)
Depreciable Life in Years	39 years
Ireland | Commercial | Office, Constructed 1841
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 15.9
Initial Cost
Land	4.9
Building & Improvements	18.5
Costs Capitalized Subsequent to Acquisition
Improvements	8
Gross Balance at December 31, 2020
Land	4.4
Building & Improvements	24.8
Total	29.2
Accumulated Depreciation	$ (2.7)
Depreciable Life in Years	39 years
Ireland | Commercial | Office, Constructed 1840 and 2000
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 52
Initial Cost
Land	11
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	2
Gross Balance at December 31, 2020
Land	10.1
Building & Improvements	52.6
Total	62.7
Accumulated Depreciation	$ (1.1)
Depreciable Life in Years	39 years
Ireland | Commercial | Office, Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 51.4
Initial Cost
Land	0.5
Building & Improvements	3.4
Costs Capitalized Subsequent to Acquisition
Improvements	49.9
Gross Balance at December 31, 2020
Land	0.5
Building & Improvements	59.2
Total	59.7
Accumulated Depreciation	$ (0.6)
Depreciable Life in Years	39 years
Ireland | Hotel | Hotel, Constructed 1824, 2005
Initial Cost
Land	$ 54
Building & Improvements	114.3
Costs Capitalized Subsequent to Acquisition
Improvements	33.4
Gross Balance at December 31, 2020
Land	44.5
Building & Improvements	129.8
Total	174.3
Accumulated Depreciation	$ (40.7)
Depreciable Life in Years	39 years
Ireland | Hotel | Office, Acquired, 2022
Gross Balance at December 31, 2020
Depreciable Life in Years	39 years
Ireland | Development | Office, Acquired 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	1.2
Building & Improvements	0.9
Costs Capitalized Subsequent to Acquisition
Improvements	0.9
Gross Balance at December 31, 2020
Land	1.2
Building & Improvements	0.9
Total	2.1
Accumulated Depreciation	0
Ireland | Development | Office, Acquired, 2022
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	0
Building & Improvements	9.6
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	0
Building & Improvements	9.6
Total	9.6
Accumulated Depreciation	(0.1)
Spain | Commercial | Retail, Constructed 1995
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	36.9
Initial Cost
Land	27.1
Building & Improvements	46.2
Costs Capitalized Subsequent to Acquisition
Improvements	12.7
Gross Balance at December 31, 2020
Land	28.4
Building & Improvements	61.1
Total	89.5
Accumulated Depreciation	$ (9.8)
Depreciable Life in Years	39 years
Spain | Development | Retail, Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	0
Building & Improvements	34.7
Costs Capitalized Subsequent to Acquisition
Improvements	16.3
Gross Balance at December 31, 2020
Land	0
Building & Improvements	48.4
Total	48.4
Accumulated Depreciation	0
Spain | Development | Retail Acquired 2017
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	0
Building & Improvements	13.8
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	0
Building & Improvements	13.2
Total	13.2
Accumulated Depreciation	0
Italy | Commercial | Office Portfolio, Acquired 2015
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	26.3
Building & Improvements	74.8
Costs Capitalized Subsequent to Acquisition
Improvements	0.6
Gross Balance at December 31, 2020
Land	30.1
Building & Improvements	86.2
Total	116.3
Accumulated Depreciation	$ (15.4)
Depreciable Life in Years	39 years
Pacific Northwest | Commercial | Office, Constructed 1999 and 2001
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 77
Initial Cost
Land	30.6
Building & Improvements	106
Costs Capitalized Subsequent to Acquisition
Improvements	3.6
Gross Balance at December 31, 2020
Land	30.6
Building & Improvements	109.6
Total	140.2
Accumulated Depreciation	$ (15.4)
Depreciable Life in Years	39 years
Pacific Northwest | Multifamily | 430-Unit Multifamily Building, Constructed 2006
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 61
Initial Cost
Land	12.8
Building & Improvements	67.4
Costs Capitalized Subsequent to Acquisition
Improvements	5.5
Gross Balance at December 31, 2020
Land	12.8
Building & Improvements	72.9
Total	85.7
Accumulated Depreciation	$ (14.1)
Depreciable Life in Years	39 years
Number of units | Unit	430
Pacific Northwest | Multifamily | 210-Multifamily Building, Constructed 2007
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 44.5
Initial Cost
Land	11
Building & Improvements	46.7
Costs Capitalized Subsequent to Acquisition
Improvements	1.2
Gross Balance at December 31, 2020
Land	11
Building & Improvements	47.9
Total	58.9
Accumulated Depreciation	$ (6.9)
Depreciable Life in Years	39 years
Number of units | Unit	210
Pacific Northwest | Multifamily | 264-Unit Multifamily Building, Constructed 1997
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 24.2
Initial Cost
Land	6.4
Building & Improvements	44.9
Costs Capitalized Subsequent to Acquisition
Improvements	5.8
Gross Balance at December 31, 2020
Land	6.4
Building & Improvements	50.7
Total	57.1
Accumulated Depreciation	$ (8.1)
Depreciable Life in Years	39 years
Number of units | Unit	264
Pacific Northwest | Multifamily | 343-Unit Multifamily Building, Constructed 2016
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 84
Initial Cost
Land	26.8
Building & Improvements	107.4
Costs Capitalized Subsequent to Acquisition
Improvements	1.1
Gross Balance at December 31, 2020
Land	26.8
Building & Improvements	108.5
Total	135.3
Accumulated Depreciation	$ (14.4)
Depreciable Life in Years	39 years
Number of units | Unit	343
Pacific Northwest | Multifamily | 179-Unit Multifamily Building, Constructed 2013
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 33.2
Initial Cost
Land	11.9
Building & Improvements	47.4
Costs Capitalized Subsequent to Acquisition
Improvements	1.9
Gross Balance at December 31, 2020
Land	11.9
Building & Improvements	49.4
Total	61.3
Accumulated Depreciation	$ (6.8)
Depreciable Life in Years	39 years
Number of units | Unit	179
Pacific Northwest | Multifamily | 383-Unit Multifamily Building Constructed 2002 And 2008
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 115
Initial Cost
Land	38.3
Building & Improvements	153
Costs Capitalized Subsequent to Acquisition
Improvements	3
Gross Balance at December 31, 2020
Land	38.2
Building & Improvements	156.1
Total	194.3
Accumulated Depreciation	$ (5.1)
Depreciable Life in Years	39 years
Number of units | Unit	383
Pacific Northwest | Multifamily | 164-Unit Multifamily Building Constructed 2020
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 43
Initial Cost
Land	14.8
Building & Improvements	59.2
Costs Capitalized Subsequent to Acquisition
Improvements	0.1
Gross Balance at December 31, 2020
Land	14.8
Building & Improvements	59.3
Total	74.1
Accumulated Depreciation	$ (1.9)
Depreciable Life in Years	39 years
Number of units | Unit	164
Northern California | Commercial | Office Constructed 2000
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 60.7
Initial Cost
Land	23.5
Building & Improvements	57.3
Costs Capitalized Subsequent to Acquisition
Improvements	5.3
Gross Balance at December 31, 2020
Land	23.5
Building & Improvements	62.6
Total	86.1
Accumulated Depreciation	$ (4.8)
Depreciable Life in Years	39 years
Northern California | Multifamily | 1,008-Unit Multifamily Building, Constructed 1988
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 175
Initial Cost
Land	62.3
Building & Improvements	152.5
Costs Capitalized Subsequent to Acquisition
Improvements	24.9
Gross Balance at December 31, 2020
Land	62.3
Building & Improvements	177.4
Total	239.7
Accumulated Depreciation	$ (46.2)
Depreciable Life in Years	39 years
Number of units | Unit	1,008
Hawaii | Ground Leases | 2700 acres
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	31.7
Building & Improvements	3.7
Costs Capitalized Subsequent to Acquisition
Improvements	0.7
Gross Balance at December 31, 2020
Land	28.2
Building & Improvements	4.4
Total	32.6
Accumulated Depreciation	$ (2.4)
Area of real estate property (in sq ft) | a	2,700
Hawaii | Ground Leases | 3 Lots
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Initial Cost
Land	16.5
Building & Improvements	0
Costs Capitalized Subsequent to Acquisition
Improvements	0
Gross Balance at December 31, 2020
Land	16.5
Building & Improvements	0
Total	16.5
Accumulated Depreciation	$ 0
Number of lots | lot	3

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Changes in Real Estate Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the beginning of period	$ 5,567.3	$ 5,207.7	$ 5,430.5
Additions during the period:
Other acquisitions	167.6	137.3	183
Improvements	604.2	1,110.4	108.4
Foreign currency	(226)	(91.8)	129.9
Deductions during the period:
Cost of real estate sold	(337.8)	(796.3)	(644.1)
Balance at close of period	$ 5,775.3	$ 5,567.3	$ 5,207.7

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Changes in Accumulated Depreciation Rollforward (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the beginning of period	$ 564	$ 551.8	$ 466.8
Additions during the period:
Depreciation expense	133.8	30.9	121.5
Deductions during the period:
Dispositions	(50.8)	(11.1)	(54.5)
Foreign currency	(27.4)	(7.6)	18
Balance at close of period	$ 619.6	$ 564	$ 551.8

Uncategorized Items - kw-202212

Label	Element	Value
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts	$ 700,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	297,300,000
Additional Paid-in Capital [Member]
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	us-gaap_AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts	$ 700,000
Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues	us-gaap_StockIssuedDuringPeriodSharesNewIssues	300,000
Stock Issued During Period, Value, New Issues	us-gaap_StockIssuedDuringPeriodValueNewIssues	$ 297,300,000