XML 15 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenue        
Rental $ 125.5 $ 122.9 $ 373.6 $ 363.1
Hotel 37.3 31.4 95.8 87.3
Sale of real estate 89.8 2.5 103.4 16.7
Investment management, property services and research fees (includes $7.5, $5.4, $17.5, and $22.9 of related party fees) 16.1 14.1 41.3 46.7
Loan purchases, loan originations and other 8.5 3.4 15.0 9.2
Total revenue 277.2 174.3 629.1 523.0
Operating expenses        
Rental operating 38.0 34.6 110.5 98.4
Hotel operating 26.1 23.8 73.3 71.9
Cost of real estate sold 63.4 2.5 73.7 13.1
Commission and marketing 2.1 2.5 5.9 6.0
Compensation and related 35.4 42.2 113.5 128.4
General and administrative 10.8 10.5 30.7 32.5
Depreciation and amortization 55.4 50.0 157.2 147.3
Total operating expenses 231.2 166.1 564.8 497.6
Income from unconsolidated investments 12.9 31.7 48.8 59.3
Operating income 58.9 39.9 113.1 84.7
Non-operating income (expense)        
Gain on sale of real estate 5.3 21.5 77.0 76.0
Acquisition-related gains 0.0 7.6 0.0 16.2
Acquisition-related expenses (1.0) (1.0) (2.3) (9.4)
Interest expense-investment (37.9) (36.8) (107.8) (102.9)
Interest expense-corporate (18.9) (14.5) (51.1) (38.8)
Other (loss) income (0.3) 1.9 4.6 7.6
Income before benefit from (provision for) income taxes 6.1 18.6 33.5 33.4
Benefit from (provision for) income taxes 3.7 (5.5) (0.9) (2.1)
Net income 9.8 13.1 32.6 31.3
Net income attributable to the noncontrolling interests (18.7) (15.1) (31.3) (41.3)
Preferred dividends and accretion of preferred stock issuance costs 0.0 (0.5) 0.0 (1.6)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders $ (8.9) $ (2.5) $ 1.3 $ (11.6)
Basic (loss) income per share        
(Loss) income per basic (in dollars per share) $ (0.08) $ (0.03) $ 0.01 $ (0.12)
Weighted average shares outstanding for basic (in shares) 111,966,716 108,634,228 111,955,924 108,966,540
Diluted (loss) income per share        
(Loss) income per diluted (in dollars per share) $ (0.08) $ (0.03) $ 0.01 $ (0.12)
Weighted average shares outstanding for diluted (in shares) 111,966,716 108,634,228 111,955,924 108,966,540
Dividends declared per common share (in dollars per share) $ 0.17 $ 0.14 $ 0.51 $ 0.42