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Earnings Per Share
 6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
In accordance with FASB ASC Topic 260-10-45, Earnings Per Share, the Company uses the two-class method to calculate earnings per share. Basic earnings per share is calculated based on dividends declared (“distributed earnings”) and the rights of common shares and participating securities in any undistributed earnings, which represents net income remaining after deduction of dividends declared during the period. Participating securities, which include unvested restricted stock, are included in the computation of earnings per share pursuant to the two-class method. The undistributed earnings are allocated to all outstanding common shares and participating securities based on the relative percentage of each security to the total number of outstanding securities. Basic earnings per common share and participating securities represent the summation of the distributed and undistributed earnings per common share and participating security divided by the total weighted average number of common shares outstanding and the total weighted average number of participating securities outstanding during the respective periods. The Company only presents the earnings per share attributable to the common shareholders.
Net losses, after deducting the dividends to participating securities, are allocated in full to the common shares since the participating security holders do not have an obligation to share in the losses, based on the contractual rights and obligations of the participating securities. The following is a summary of the elements used in calculating basic and diluted income (loss) per share for the three and six months ended June 30, 2018 and 2017:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(Dollars in millions, except share and per share amounts)
2018
 
2017
 
2018
 
2017
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders
$
109.6

 
$
9.4

 
$
107.2

 
$
10.2

Dividends allocated to participating securities
(0.8
)
 
(0.2
)
 
(0.8
)
 
(0.5
)
Net income attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities
108.8

 
9.2

 
106.4

 
9.7

Dividends declared on common shares
(27.3
)
 
(19.3
)
 
(55.6
)
 
(38.6
)
Undistributed earnings (losses) attributable to Kennedy-Wilson Holdings, Inc. common shareholders, net of allocation to participating securities
$
81.5

 
$
(10.1
)
 
$
50.8

 
$
(28.9
)
 
 
 
 
 
 
 
 
Distributed earnings per share
$
0.19


$
0.17


$
0.38


$
0.34

Undistributed earnings (losses) per share
0.58

 
(0.09
)

0.36


(0.25
)
Income per basic and diluted share
0.77

 
0.08

 
0.74

 
0.09

 
 
 
 
 
 
 
 
Weighted average shares outstanding for basic
141,483,445

 
111,723,952

 
144,696,059

 
111,945,354

Weighted average shares outstanding for diluted(1)
142,707,159

 
111,723,952

 
145,872,617

 
111,945,354

Dividends declared per common share
$
0.19

 
$
0.17

 
$
0.38

 
$
0.34

                           
(1) For the three and six months ended June 30, 2018, a total of 1,223,714 and 1,176,558, respectively, potentially dilutive securities have been included in the diluted weight average shares as they are dilutive. For the three and six months ended June 30, 2017, a total of 1,040,003 and 989,495, respectively, potentially dilutive securities have not been included in the diluted weighted average shares as they are anti-dilutive. Potentially anti-dilutive securities include unvested restricted stock grants.