XML 13 R4.htm IDEA: XBRL DOCUMENT v2.3.0.15
Consolidated Statements of Operations and Comprehensive Loss (USD $)
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenue    
Management and leasing fees$ 4,862,000$ 2,300,000$ 9,657,000$ 6,513,000
Management and leasing fees — related party2,989,0003,829,0008,151,0009,589,000
Commissions1,329,0001,973,0004,842,0004,353,000
Commissions — related party1,930,0002,034,0003,587,0004,319,000
Sale of real estate00417,0003,937,000
Rental and other income1,666,0001,637,0003,359,0002,934,000
Total revenue12,776,00011,773,00030,013,00031,645,000
Operating expenses    
Commission and marketing expenses1,641,000263,0003,015,0002,032,000
Compensation and related expenses8,473,00012,414,00024,562,00029,400,000
Cost of real estate sold00397,0002,714,000
General and administrative3,329,0003,457,0009,183,0008,263,000
Depreciation and amortization931,000616,0001,828,0001,197,000
Rental operating expenses1,195,000897,0002,248,0001,421,000
Total operating expenses15,569,00017,647,00041,233,00045,027,000
Equity in joint venture income(646,000)5,191,0007,229,0005,162,000
Interest income from loan pool participations and notes receivable1,048,0004,209,0005,835,0007,950,000
Operating income (loss)(2,391,000)3,526,0001,844,000(270,000)
Non-operating income (expense)    
Interest income74,00053,000264,000168,000
Interest income — related party561,00091,000970,000477,000
Remeasurement gain006,348,0002,108,000
Gain on extinguishment of debt00016,670,000
Loss on extinguishment of debt0(4,788,000)0(4,788,000)
Interest expense(6,117,000)(2,198,000)(13,874,000)(6,492,000)
(Loss) income before (provision for) benefit from income taxes(7,873,000)(3,316,000)(4,448,000)7,873,000
Benefit from (provision for) income taxes2,997,000(383,000)2,162,000(4,335,000)
Net (loss) income(4,876,000)(3,699,000)(2,286,000)3,538,000
Net income attributable to the noncontrolling interests42,000(1,215,000)(1,295,000)(2,374,000)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc.(4,834,000)(4,914,000)(3,581,000)1,164,000
Preferred dividends and accretion of preferred stock issuance costs(2,036,000)(1,804,000)(6,708,000)(2,524,000)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders(6,870,000)(6,718,000)(10,289,000)(1,360,000)
Other comprehensive income (loss), net of tax(1,783,000)2,912,000(1,576,000)5,098,000
Total comprehensive loss$ (8,653,000)$ (3,806,000)$ (11,865,000)$ 3,738,000
Basic (loss) income per share    
Basic (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders$ (0.16)$ (0.17)$ (0.25)$ (0.03)
Weighted average number of common shares outstanding44,016,88038,961,82240,712,49639,062,570
Dividends declared per common share$ 0.04$ 0.00$ 0.08$ 0.00