XML 73 R57.htm IDEA: XBRL DOCUMENT v3.22.4
UNCONSOLIDATED INVESTMENTS -Summarized Financial Data (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]            
Cash and cash equivalents $ 439.3 $ 524.8 $ 439.3 $ 524.8    
Accounts receivable 40.8 36.1 40.8 36.1    
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net 5,188.1 5,059.8 5,188.1 5,059.8    
Other assets 216.1 177.9 216.1 177.9    
Total assets [1] 8,271.8 7,876.5 8,271.8 7,876.5    
Liabilities            
Total liabilities [1] 6,261.4 6,072.6 6,261.4 6,072.6    
Equity            
Kennedy-Wilson Holdings, Inc. shareholders' equity 1,964.0 1,777.6 1,964.0 1,777.6    
Noncontrolling interests 46.4 26.3 46.4 26.3    
Total equity 2,010.4 1,803.9 2,010.4 1,803.9 $ 1,672.7 $ 1,719.2
Total liabilities and equity 8,271.8 7,876.5 8,271.8 7,876.5    
Interest expense     (220.8) (192.4) (201.9)  
Other income (loss)     36.1 (5.0) (2.3)  
Net income     101.9 336.4 107.8  
Income attributable to partner     8.2 6.0 (2.3)  
Income from unconsolidated investments 178.4 389.0 178.4 389.0 81.0  
VHH            
Equity            
Unrealized fair value gains     270.7 77.4 31.3  
Interest expense     (45.6) (37.5) (31.8)  
Other income (loss)     0.0 (0.1) (0.9)  
Income attributable to partner     (195.3) (78.3) (46.5)  
Income from unconsolidated investments     119.8 41.4 22.8  
MF Seed Portfolio            
Equity            
Unrealized fair value gains     56.1 140.6    
Interest expense     (17.6) (8.2)    
Other income (loss)     (4.1) (11.8)    
Income attributable to partner     (33.0) (54.8)    
Income from unconsolidated investments     45.1 88.9    
Rental | VHH            
Equity            
Total revenue     131.0 114.7 102.1  
Rental expenses     (41.0) (34.8) (31.4)  
Rental | MF Seed Portfolio            
Equity            
Total revenue     64.8 31.6    
Rental expenses     (21.1) (8.5)    
MF Seed Portfolio            
Schedule of Equity Method Investments [Line Items]            
Cash and cash equivalents 12.4 10.9 12.4 10.9    
Accounts receivable 2.0 2.4 2.0 2.4    
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net 970.5 943.5 970.5 943.5    
Other assets 1.1 1.5 1.1 1.5    
Total assets 986.0 958.3 986.0 958.3    
Liabilities            
Accounts payable and accrued expenses 5.4 5.2 5.4 5.2    
Mortgage debt 448.7 457.0 448.7 457.0    
Total liabilities 454.1 462.2 454.1 462.2    
Equity            
Kennedy-Wilson Holdings, Inc. shareholders' equity 291.9 268.6 291.9 268.6    
Noncontrolling interests 240.0 227.5 240.0 227.5    
Total equity 531.9 496.1 531.9 496.1    
Total liabilities and equity 986.0 958.3 986.0 958.3    
Net income     78.1 143.7    
VHH            
Schedule of Equity Method Investments [Line Items]            
Cash and cash equivalents 37.0 31.9 37.0 31.9    
Accounts receivable 4.4 4.9 4.4 4.9    
Real estate and acquired in place lease values, net of accumulated depreciation and amortization, net 1,802.7 1,553.3 1,802.7 1,553.3    
Other assets 2.0 0.0 2.0 0.0    
Total assets 1,846.1 1,590.1 1,846.1 1,590.1    
Liabilities            
Accounts payable and accrued expenses 17.6 19.9 17.6 19.9    
Mortgage debt 1,180.6 1,188.6 1,180.6 1,188.6    
Total liabilities 1,198.2 1,208.5 1,198.2 1,208.5    
Equity            
Kennedy-Wilson Holdings, Inc. shareholders' equity 271.8 157.9 271.8 157.9    
Noncontrolling interests 376.1 223.7 376.1 223.7    
Total equity 647.9 381.6 647.9 381.6    
Total liabilities and equity $ 1,846.1 $ 1,590.1 1,846.1 1,590.1    
Net income     $ 315.1 $ 119.7 $ 69.3  
[1] The assets and liabilities as of December 31, 2022 include $169.8 million (including cash held by consolidated investments of $6.1 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $137.8 million) and $82.4 million (including investment debt of $51.2 million), respectively, from consolidated variable interest entities ("VIEs"). The assets and liabilities as of December 31, 2021 include $189.6 million (including cash held by consolidated investments of $11.5 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $152.8 million) and $129.2 million (including investment debt of $103.3 million), respectively, from VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.