Marketable Securities

12 Months Ended

Dec. 31, 2011

Schedule of Available-for-sale Securities [Line Items]

Marketable Securities [Text Block]

MARKETABLE SECURITIES

During 2011, a subsidiary of Kennedy-Wilson, along with a non-controlling entity comprised of Kennedy-Wilson executives, completed the purchase of 234.0 million units of ordinary stock of the Bank of Ireland for a purchase price of $32.8 million, of which $2.8 million was contributed by the non-controlling entity, at a fixed price of €0.10. Subsequent to the purchase, the non-controlling entity received a stock distribution for their ownership in the stock. The fair value was determined based on quoted prices in active markets. Additionally, the transaction was carried out in Euro's which resulted in a currency translation adjustment. The impact on the changes in currency are included in other comprehensive income in the accompanying consolidated statement of equity.

At December 31, 2011, Kennedy Wilson's marketable securities had a cost basis of $32.8 million and a fair value of $23.0 million. The difference included unrealized losses of $5.3 million and foreign currency translation adjustments of $1.6 million both of which are included in other comprehensive (loss) income in the accompanying consolidated statement of equity.

The Company has evaluated the unrealized losses as of December 31, 2011 and has concluded that the unrealized losses are temporary in nature. The factors considered included current quoted prices in the active market and the severity and duration of the market fluctuation.