UNCONSOLIDATED INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Joint Ventures by Investment Type and Geographic Location

The following table details Kennedy Wilson's investments in joint ventures by investment type and geographic location as of December 31, 2022:

(Dollars in millions)	Multifamily		Commercial		Hotel		Funds		Residential and Other		Total
Western U.S.	$	857.6	$	89.2	$	195.9	$	158.3	$	169.1	$	1,470.1
Ireland	378.1		176.7		—		8.0		—		562.8
United Kingdom	—		138.7		—		36.3		30.2		205.2
Total	$	1,235.7	$	404.6	$	195.9	$	202.6	$	199.3	$	2,238.1

The following table details the Kennedy Wilson's investments in joint ventures by investment type and geographic location as of December 31, 2021:

(Dollars in millions)	Multifamily		Commercial		Hotel		Funds		Residential and Other		Total
Western U.S.	$	592.1	$	81.0	$	131.0	$	189.2	$	179.6	$	1,172.9
Ireland	389.5		141.1		—		3.1		—		533.7
United Kingdom	—		169.3		—		42.9		28.8		241.0
Total	$	981.6	$	391.4	$	131.0	$	235.2	$	208.4	$	1,947.6

	VHH				MF Seed Portfolio
	December 31,				December 31,
(Dollars in millions)	2022		2021		2022		2021
Cash and cash equivalents	$	37.0	$	31.9	$	12.4	$	10.9
Accounts receivable	4.4		4.9		2.0		2.4
Real estate	1,802.7		1,553.3		970.5		943.5
Other	2.0		—		1.1		1.5
Total assets	$	1,846.1	$	1,590.1	$	986.0	$	958.3
Liabilities
Accounts payable and accrued expenses	$	17.6	$	19.9	$	5.4	$	5.2
Mortgage debt	1,180.6		1,188.6		448.7		457.0
Total liabilities	1198.2		1,208.5		454.1		462.2
Equity
Kennedy Wilson - investment in unconsolidated investment	271.8		157.9		291.9		268.6
Partners	376.1		223.7		240.0		227.5
Total equity	647.9		381.6		531.9		496.1
Total liabilities and equity	$	1,846.1	$	1,590.1	$	986.0	$	958.3

	VHH						MF Seed Portfolio
(Dollars in millions)	Year Ended December 31,						Year Ended December 31,
	2022		2021		2020		2022		2021
Rental income	$	131.0	$	114.7	$	102.1	$	64.8	$	31.6
Unrealized fair value gains	270.7		77.4		31.3		56.1		140.6
Rental expenses	(41.0)		(34.8)		(31.4)		(21.1)		(8.5)
Interest expense	(45.6)		(37.5)		(31.8)		(17.6)		(8.2)
Other expense	—		(0.1)		(0.9)		(4.1)		(11.8)
Net income	315.1		119.7		69.3		78.1		143.7
Income attributable to partner	(195.3)		(78.3)		(46.5)		(33.0)		(54.8)
Income from unconsolidated investment	$	119.8	$	41.4	$	22.8	$	45.1	$	88.9

Schedule of Cash Distributions by Investment Type and Geographic Location

The following table details cash distributions by investment type and geographic location for the year ended December 31, 2022:

	Multifamily				Commercial				Funds				Residential and Other				Total
(Dollars in millions)	Operating		Investing		Operating		Investing		Operating		Investing		Operating		Investing		Operating		Investing
Western U.S.	$	38.8	$	66.6	$	11.2	$	0.2	$	10.2	$	10.7	$	0.2	$	23.5	$	60.4	$	101.0
Ireland	8.0		38.6		7.3		—		—		4.9		—		—		15.3		43.5
United Kingdom	—		—		1.7		1.3		—		—		0.7		11.3		2.4		12.6
Total	$	46.8	$	105.2	$	20.2	$	1.5	$	10.2	$	15.6	$	0.9	$	34.8	$	78.1	$	157.1

Schedule of Income (Loss) from Unconsolidated Investments

The following table presents income from unconsolidated investments recognized by Kennedy Wilson during the years ended December 31, 2022, 2021 and 2020:

	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Income from unconsolidated investments - operating performance	$	80.2	$	60.7	$	43.4
Income from unconsolidated investments - realized gains from cost basis investments	4.7		—		—
Income from unconsolidated investments - unrealized and realized fair value gains	114.6		213.5		47.2
Income from unconsolidated investments - realized losses and impairment	—		(3.1)		(12.3)
Principal co-investments	199.5		271.1		78.3
(Loss) income from unconsolidated investments - performance allocation	(21.1)		117.9		2.7
	$	178.4	$	389.0	$	81.0