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Guarantor and Non-Guarantor Financial Statements
 6 Months Ended
Jun. 30, 2014
Guarantor and Nonguarantor Financial Statements [Abstract]  
GUARANTOR AND NON-GARANTOR FINANCIAL STATEMENTS
GUARANTOR AND NON-GUARANTOR FINANCIAL STATEMENTS
The following consolidating financial information and condensed consolidating financial information include:

(1) Condensed consolidating balance sheets as of June 30, 2014 and December 31, 2013; consolidating statements of operations for the three and six months ended June 30, 2014 and 2013; consolidating statements of comprehensive income for the three and six months ended June 30, 2014 and 2013; and condensed consolidating statements of cash flows for the three and six months ended June 30, 2014 and 2013, of (a) Kennedy-Wilson Holdings, Inc., as the parent, (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, 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 and for the three and six months ended June 30, 2014 or 2013.
CONDENSED CONSOLIDATING BALANCE SHEET
AS OF JUNE 30, 2014
(Dollars in millions)
 
Parent
 
Kennedy-Wilson, Inc.
 
Guarantor Subsidiaries 
 
Non-guarantor Subsidiaries
 
Elimination
 
Consolidated Total
Assets
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
—

 
$
328.4

 
$
20.4

 
$
0.7

 
$
—

 
$
349.5

Cash held by consolidated investments
 
—

 
—

 
—

 
292.8

 
—

 
292.8

Accounts receivable
 
—

 
—

 
16.0

 
20.8

 
—

 
36.8

Loans
 
—

 
57.1

 
180.9

 
221.0

 
(56.7
)
 
402.3

Real estate and acquired in place lease values, net of accumulated depreciation and amortization
 
—

 
—

 
194.2

 
3,359.2

 
—

 
3,553.4

Unconsolidated investments
 
—

 
9.3

 
290.7

 
232.2

 
—

 
532.2

Other assets
 
—

 
23.5

 
41.9

 
122.3

 
—

 
187.7

Investments in and advances to consolidated subsidiaries
 
988.6

 
1,401.3

 
859.8

 
1.4

 
(3,251.1
)
 
—

Total assets
 
$
988.6

 
$
1,819.6

 
$
1,603.9

 
$
4,250.4

 
$
(3,307.8
)
 
$
5,354.7

 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities and equity
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable, accrued expenses and other liabilities
 
$
11.1

 
$
85.0

 
$
25.6

 
$
164.0

 
$
—

 
$
285.7

Senior notes payable
 
—

 
706.0

 
—

 
—

 
—

 
706.0

Investment debt
 
—

 
—

 
176.7

 
1,408.7

 
(56.7
)
 
1,528.7

Junior subordinated debentures
 
—

 
40.0

 
—

 
—

 
—

 
40.0

Total liabilities
 
11.1

 
831.0

 
202.3

 
1,572.7

 
(56.7
)
 
2,560.4

 
 
 
 
 
 
 
 
 
 
 
 
 
Equity
 
 
 
 
 
 
 
 
 
 
 
 
Kennedy-Wilson Holdings, Inc. shareholders' equity
 
977.5

 
988.6

 
1,401.3

 
859.8

 
(3,251.1
)
 
976.1

Noncontrolling interests
 
—

 
—

 
0.3

 
1,817.9

 
—

 
1,818.2

Total equity
 
977.5

 
988.6

 
1,401.6

 
2,677.7

 
(3,251.1
)
 
2,794.3

Total liabilities and equity
 
$
988.6

 
$
1,819.6

 
$
1,603.9

 
$
4,250.4

 
$
(3,307.8
)
 
$
5,354.7

CONDENSED CONSOLIDATING BALANCE SHEET
AS OF DECEMBER 31, 2013
(Dollars in millions)
 
Parent
 
Kennedy-Wilson, Inc.
 
Guarantor Subsidiaries 
 
Non-guarantor Subsidiaries
 
Elimination
 
Consolidated Total
Assets
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
—

 
$
48.2

 
$
77.2

 
$
44.8

 
$
—

 
$
170.2

Cash held by consolidated investments
 
—

 
—

 
—

 
8.0

 
—

 
8.0

Accounts receivable
 
—

 
1.1

 
7.0

 
8.5

 
—

 
16.6

Intercompany receivables
 
—

 
9.0

 
—

 
—

 
(9.0
)
 
—

Loans receivable
 
—

 
59.7

 
53.7

 
0.8

 
(57.4
)
 
56.8

Real estate and acquired in place lease values, net of accumulated depreciation
 
—

 
—

 
145.3

 
542.8

 
—

 
688.1

Unconsolidated investments
 
—

 
7.5

 
598.0

 
180.6

 
—

 
786.1

Investments in and advances to consolidated subsidiaries
 
775.1

 
1,141.9

 
326.6

 
—

 
(2,243.6
)
 
—

Other assets
 
—

 
20.9

 
31.4

 
20.7

 
—

 
73.0

Total assets
 
$
775.1

 
$
1,288.3

 
$
1,239.2

 
$
806.2

 
$
(2,310.0
)
 
$
1,798.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable, accrued expense and other liabilities
 
$
6.8

 
$
64.2

 
$
22.9

 
$
35.2

 
$
—

 
129.1

Intercompany payables
 
—

 
—

 
—

 
9.0

 
(9.0
)
 
—

Senior notes payable
 
—

 
409.0

 
—

 
—

 
—

 
409.0

Intercompany loans payable
 
—

 
—

 
—

 
57.4

 
(57.4
)
 
—

Investment debt
 
—

 
—

 
74.4

 
327.4

 
—

 
401.8

Junior subordinated debentures
 
—

 
40.0

 
—

 
—

 
—

 
40.0

Total liabilities
 
6.8

 
513.2

 
97.3

 
429.0

 
(66.4
)
 
979.9

 
 
 
 
 
 
 
 
 
 
 
 
 
Equity
 
 
 
 
 
 
 
 
 
 
 
 
Kennedy-Wilson Holdings, Inc. shareholders' equity
 
768.3

 
775.1

 
1,141.9

 
326.6

 
(2,243.6
)
 
768.3

Noncontrolling interests
 
—

 
—

 
—

 
50.6

 
—

 
50.6

Total equity
 
768.3

 
775.1

 
1,141.9

 
377.2

 
(2,243.6
)
 
818.9

Total liabilities and equity
 
$
775.1

 
$
1,288.3

 
$
1,239.2

 
$
806.2

 
$
(2,310.0
)
 
$
1,798.8

 
 
 
 
 
 
 
 
 
 
 
 
 
CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED JUNE 30, 2014
(Dollars in millions)
 
Parent
 
Kennedy-Wilson, Inc.
 
Guarantor Subsidiaries
 
Non-guarantor Subsidiaries
 
Elimination
 
Consolidated Total
Revenue
 
 
 
 
 
 
 
 
 
 
 
 
Investment management, property services and research fees
 
$
—

 
$
0.4

 
$
35.4

 
$
3.2

 
$
—

 
$
39.0

Rental and hotel
 
—

 
—

 
3.0

 
39.6

 
—

 
42.6

Sale of real estate
 
—

 
—

 
—

 
6.1

 
—

 
6.1

Loans and other
 
—

 
—

 
3.8

 
0.5

 
—

 
4.3

Total revenue
 
—

 
0.4

 
42.2

 
49.4

 
—

 
92.0

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
 
Commission and marketing
 
—

 
—

 
0.6

 
0.3

 
—

 
0.9

Rental and hotel operating
 
—

 
—

 
0.9

 
17.0

 
—

 
17.9

Cost of real estate sold
 
—

 
—

 
—

 
3.9

 
—

 
3.9

Compensation and related
 
1.7

 
20.2

 
8.8

 
1.5

 
—

 
32.2

General and administrative
 
—

 
2.7

 
—

 
5.7

 
—

 
8.4

Depreciation and amortization
 
—

 
0.2

 
2.6

 
22.5

 
—

 
25.3

Total operating expenses
 
1.7

 
23.1

 
12.9

 
50.9

 
—

 
88.6

Income from unconsolidated subsidiaries
 
—

 
1.2

 
29.2

 
0.6

 
—

 
31.0

Income from consolidated subsidiaries
 
65.3

 
127.6

 
75.8

 
—

 
(268.7
)
 
—

Operating income (loss)
 
63.6

 
106.1

 
134.3

 
(0.9
)
 
(268.7
)
 
34.4

Non-operating income (expense)
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition-related gains
 
—

 
(7.0
)
 
—

 
93.0

 
—

 
86.0

Acquisition-related expenses
 
—

 
—

 
(1.2
)
 
(6.4
)
 
—

 
(7.6
)
Interest expense-investment
 
—

 
—

 
—

 
(11.1
)
 
—

 
(11.1
)
Interest expense-corporate
 
—

 
(14.7
)
 
—

 
—

 
—

 
(14.7
)
Other income / (expense)
 
—

 
(1.8
)
 
2.7

 
1.2

 
—

 
2.1

Income (loss) before benefit from income taxes  
 
63.6

 
82.6

 
135.8

 
75.8

 
(268.7
)
 
89.1

(Provision for) benefit from income taxes
 
—

 
(17.3
)
 
(8.1
)
 
—

 
—

 
(25.4
)
Net income (loss)
 
63.6

 
65.3

 
127.7

 
75.8

 
(268.7
)
 
63.7

Net (income) loss attributable to the noncontrolling interests
 
—

 
—

 
—

 
(25.3
)
 
—

 
(25.3
)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc.
 
63.6

 
65.3

 
127.7

 
50.5

 
(268.7
)
 
38.4

Preferred dividends and accretion of preferred stock issuance costs
 
(2.1
)
 
—

 
—

 
—

 
—

 
(2.1
)
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders     
 
$
61.5

 
$
65.3

 
$
127.7

 
$
50.5

 
$
(268.7
)
 
$
36.3

CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE THREE MONTHS ENDED JUNE 30, 2013
(Dollars in millions)
 
Parent
 
Kennedy-Wilson, Inc.
 
Guarantor Subsidiaries
 
Non-guarantor Subsidiaries
 
Elimination
 
Consolidated Total
Revenue
 
 
 
 
 
 
 
 
 
 
 
 
Investment management, property services, and research fees
 
$
—

 
$
0.4

 
$
7.3

 
$
11.8

 
$
—

 
$
19.5

Rental and hotel
 
—

 
—

 
1.5

 
8.8

 
—

 
10.3

Sale of real estate
 
—

 
—

 
6.1

 
—

 
—

 
6.1

Loans and other
 
—

 
—

 
0.5

 
—

 
—

 
0.5

Total revenue
 
—

 
0.4

 
15.4

 
20.6

 
—

 
36.4

Operating expenses
 
 
 
 
 
 
 
 
 
 
 
 
Commission and marketing
 
—

 
0.3

 
1.0

 
—

 
—

 
1.3

Rental and hotel operating
 
—

 
—

 
0.8

 
3.8

 
—

 
4.6

Cost of real estate sold
 
—

 
—

 
5.1

 
—

 
—

 
5.1

Compensation and related
 
1.7

 
8.6

 
3.4

 
4.6

 
—

 
18.3

General and administrative
 
0.3

 
2.3

 
0.7

 
3.1

 
—

 
6.4

Depreciation and amortization
 
—

 
0.1

 
1.2

 
3.1

 
—

 
4.4

Total operating expenses
 
2.0

 
11.3

 
12.2

 
14.6

 
—

 
40.1

Income from unconsolidated investments, net of depreciation and amortization
 
—

 
—

 
16.7

 
(2.0
)
 
0.1

 
14.8

Income from consolidated subsidiaries
 
0.6

 
20.3

 
0.7

 
—

 
(21.6
)
 
—

Operating income (expense)
 
(1.4
)
 
9.4

 
20.6

 
4.0

 
(21.5
)
 
11.1

Non-operating income (expense)
 
 
 
 
 
 
 
 
 
 
 
 
Acquisition-related expense
 
—

 
—

 
(0.2
)
 
(0.3
)
 
—

 
(0.5
)
Interest expense-investment
 
—

 
—

 
(0.2
)
 
(2.6
)
 
—

 
(2.8
)
Interest expense-corporate
 
—

 
(9.7
)
 
—

 
—

 
—

 
(9.7
)
Other income
 
—

 
0.2

 
—

 
—

 
(0.1
)
 
0.1

(Loss) income before benefit from income taxes  
 
(1.4
)
 
(0.1
)
 
20.2

 
1.1

 
(21.6
)
 
(1.8
)
Benefit from (provision for) income taxes
 
—

 
0.8

 
—

 
(0.3
)
 
—

 
0.5

Net (loss) income
 
(1.4
)
 
0.7

 
20.2

 
0.8

 
(21.6
)
 
(1.3
)
Net income attributable to the noncontrolling interests
 
—

 
—

 
—

 
0.9

 
—

 
0.9

Preferred dividends and accretion of preferred stock issuance costs
 
(2.1
)
 
—

 
—

 
—

 
—

 
(2.1
)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders   
 
$
(3.5
)
 
$
0.7

 
$
20.2

 
$
1.7

 
$
(21.6
)
 
$
(2.5
)
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED JUNE 30, 2014
(Dollars in millions)
 
Parent
 
Kennedy-Wilson, Inc.
 
Guarantor Subsidiaries
 
Non-guarantor Subsidiaries
 
Elimination
 
Consolidated Total
Net (loss) income
 
$
63.6

 
$
65.3

 
$
127.7

 
$
75.8

 
$
(268.7
)
 
$
63.7

 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized foreign currency translation (loss) gain
 
23.1

 
23.1

 
29.1

 
(3.1
)
 
(49.1
)
 
23.1

Amounts reclassified out of AOCI during the period
 
(8.3
)
 
(8.3
)
 
(8.3
)
 
—

 
16.6

 
(8.3
)
Unrealized forward contract foreign currency (loss) gain
 
(2.1
)
 
(2.1
)
 
(3.6
)
 
(1.2
)
 
6.9

 
(2.1
)
Total other comprehensive (loss) income for the period
 
$
12.7

 
$
12.7

 
$
17.2

 
$
(4.3
)
 
$
(25.6
)
 
$
12.7

 
 
 
 
 
 
 
 
 
 
 
 
 
Comprehensive income
 
$
76.3

 
$
78.0

 
$
144.9

 
$
71.5

 
$
(294.3
)
 
$
76.4

Comprehensive (income) loss attributable to noncontrolling interests
 
—

 
—

 
—

 
(44.1
)
 
—

 
(44.1
)
Comprehensive income attributable to Kennedy-Wilson Holdings, Inc.
 
$
76.3

 
$
78.0

 
$
144.9

 
$
27.4

 
$
(294.3
)
 
$
32.3



CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE THREE MONTHS ENDED JUNE 30, 2013
(Dollars in millions)
 
Parent
 
Kennedy-Wilson, Inc.
 
Guarantor Subsidiaries
 
Non-guarantor Subsidiaries
 
Elimination
 
Consolidated Total
Net (loss) income
 
$
(1.4
)
 
$
0.7

 
$
20.2

 
$
0.8

 
$
(21.6
)
 
$
(1.3
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
 
 
 
 
Unrealized foreign currency translation gains
 
(3.7
)
 
(3.7
)

(5.1
)
 
(0.5
)
 
9.3

 
(3.7
)
Unrealized forward contract foreign currency loss
 
2.2

 
2.2

 
2.0

 
—

 
(4.2
)
 
2.2

Total other comprehensive income for the period
 
$
(1.5
)
 
$
(1.5
)
 
$
(3.1
)
 
$
(0.5
)
 
$
5.1

 
$
(1.5
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Comprehensive (loss) income
 
$
(2.9
)
 
$
(0.8
)
 
$
17.1

 
$
0.3

 
$
(16.5
)
 
$
(2.8
)
Comprehensive income attributable to noncontrolling interests
 
—

 
—

 
—

 
0.9

 
—

 
0.9

Comprehensive (loss) income attributable to Kennedy-Wilson Holdings, Inc.
 
$
(2.9
)
 
$
(0.8
)
 
$
17.1

 
$
1.2

 
$
(16.5
)
 
$
(1.9
)
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2014
(Dollars in millions)
 
Parent
 
Kennedy-Wilson, Inc.
 
Guarantor Subsidiaries
 
Non-guarantor Subsidiaries
 
Consolidated Total
Net cash provided by (used in) operating activities
 
$
1.8

 
$
(75.3
)
 
$
58.5

 
$
80.1

 
$
65.1

Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
Additions to loans
 
—

 
—

 
(5.7
)
 
(367.6
)
 
(373.3
)
Collections of loans
 
—

 
—

 
0.2

 
18.5

 
18.7

Net proceeds from sale of real estate
 
—

 
—

 
—

 
15.0

 
15.0

Purchases of and additions to real estate
 
—

 
—

 
(4.4
)
 
(1,285.4
)
 
(1,289.8
)
Distributions from unconsolidated investments
 
—

 
0.2

 
44.4

 
11.0

 
55.6

Contributions to unconsolidated investments
 
—

 
(2.0
)
 
(19.1
)
 
(84.9
)
 
(106.0
)
Investment in marketable securities
 
—

 
—

 
(6.9
)
 
—

 
(6.9
)
(Investments in) distributions from consolidated subsidiaries, net
 
(171.9
)
 
67.1

 
(141.4
)
 
246.2

 
—

Net cash (used in) provided by investing activities
 
(171.9
)
 
65.3

 
(132.9
)
 
(1,447.2
)
 
(1,686.7
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
Borrowings under line of credit
 
—

 
90.0

 
—

 
—

 
90.0

Repayment of line of credit
 
—

 
(90.0
)
 
—

 
—

 
(90.0
)
Borrowings under investment debt
 
—

 
—

 
18.0

 
277.2

 
295.2

Borrowings under senior notes payable
 
—

 
297.2

 
—

 
—

 
297.2

Debt issue costs
 
—

 
(7.0
)
 
(0.4
)
 
(3.9
)
 
(11.3
)
Repayment of investment debt
 
—

 
—

 
—

 
(14.0
)
 
(14.0
)
Issuance of common stock
 
190.7

 
—

 
—

 
—

 
190.7

Dividends paid
 
(18.1
)
 
—

 
—

 
—

 
(18.1
)
Repurchase and retirement of common stock
 
(2.6
)
 
—

 
—

 
—

 
(2.6
)
Proceeds from issuance of KWE shares
 
—

 
—

 
—

 
1,351.1

 
1,351.1

Restricted cash
 
—

 
—

 
—

 
(42.6
)
 
(42.6
)
Acquisition of KWE shares from noncontrolling interest holders
 
—

 
—

 
—

 
(16.8
)
 
(16.8
)
Contributions from noncontrolling interests
 
—

 
—

 
—

 
8.6

 
8.6

Distributions to noncontrolling interests
 
—

 
—

 
—

 
(13.5
)
 
(13.5
)
Net cash provided by financing activities
 
170.0

 
290.2

 
17.6

 
1,546.1

 
2,023.9

Effect of currency exchange rate changes on cash and cash equivalents
 
—

 
—

 
—

 
19.2

 
19.2

Net change in cash and cash equivalents
 
(0.1
)
 
280.2

 
(56.8
)
 
198.2

 
421.5

Cash and cash equivalents, beginning of year
 
—

 
48.2

 
77.2

 
52.8

 
178.2

Cash and cash equivalents, end of period
 
$
(0.1
)
 
$
328.4

 
$
20.4

 
$
251.0

 
$
599.7

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
FOR THE SIX MONTHS ENDED JUNE 30, 2013
(Dollars in millions)
 
Parent
 
Kennedy-Wilson, Inc.
 
Guarantor Subsidiaries 
 
Non-guarantor Subsidiaries
 
Consolidated Total
Net cash (used in) provided by operating activities
 
$
(0.2
)
 
$
(46.4
)
 
$
16.8

 
$
5.9

 
$
(23.9
)
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
Additions to loans
 
—

 
(6.0
)
 
(8.3
)
 
—

 
(14.3
)
Collections of loans
 
—

 
—

 
33.6

 
—

 
33.6

Net proceeds from sale of real estate
 
—

 
—

 
9.0

 
—

 
9.0

Purchases of and additions to real estate
 
—

 
—

 
(30.8
)
 
(77.5
)
 
(108.3
)
Proceeds from sale of marketable securities
 
—

 
10.0

 
—

 
—

 
10.0

Distributions from unconsolidated investments
 
—

 
0.2

 
72.4

 
2.7

 
75.3

Contributions to unconsolidated investments
 
—

 
(2.3
)
 
(162.7
)
 
(35.5
)
 
(200.5
)
(Investment in) distributions from consolidated subsidiaries, net
 
(35.8
)
 
(24.6
)
 
26.5

 
33.9

 
—

Net cash (used in) provided by investing activities
 
(35.8
)
 
(22.7
)
 
(60.3
)
 
(76.4
)
 
(195.2
)
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
Borrowings under line of credit
 
—

 
85.0

 
—

 
—

 
85.0

Repayment of lines of credit
 
—

 
(55.0
)
 
—

 
—

 
(55.0
)
Borrowings under investment debt
 
—

 
—

 
18.7

 
49.6

 
68.3

Repayment of investment debt
 
—

 
—

 
—

 
(0.6
)
 
(0.6
)
Debt issue costs
 
—

 
(0.9
)
 
—

 
—

 
(0.9
)
Issuance of common stock
 
153.9

 
—

 
—

 
—

 
153.9

Repurchase of warrants
 
(1.4
)
 
—

 
—

 
—

 
(1.4
)
Dividends paid
 
(9.1
)
 
—

 
—

 
—

 
(9.1
)
Contributions from noncontrolling interests
 
—

 
—

 
—

 
0.6

 
0.6

Distributions to noncontrolling interests
 
—

 
—

 
—

 
(0.2
)
 
(0.2
)
Intercompany receivables, net
 
—

 
(19.7
)
 
0.1

 
19.6

 
—

Net cash provided by (used in) financing activities
 
143.4

 
9.4

 
18.8

 
69.0

 
240.6

Effect of currency exchange rate changes on cash and cash equivalents
 
—

 
(0.1
)
 
(1.4
)
 
(1.2
)
 
(2.7
)
Net change in cash and cash equivalents
 
107.4

 
(59.8
)
 
(26.1
)
 
(2.7
)
 
18.8

Cash and cash equivalents, beginning of period
 
—

 
64.5

 
38.5

 
17.9

 
120.9

Cash and cash equivalents, end of period
 
$
107.4

 
$
4.7

 
$
12.4

 
$
15.2

 
$
139.7