XML 100 R72.htm IDEA: XBRL DOCUMENT v3.23.2
Segment Information - Segment Information, by Segment (Details)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2023
USD ($)
segment
Jun. 30, 2022
USD ($)
Dec. 31, 2022
USD ($)
Segment Reporting Information [Line Items]          
Number of operating segments | segment     2    
Revenue          
Total revenue $ 146.5 $ 136.1 $ 278.7 $ 260.8  
Principal co-investments 6.3 39.4 22.7 117.6  
Performance allocations (7.7) (8.7) (18.4) 18.5  
Total (loss) income from unconsolidated investments (1.4) 30.7 4.3 136.1  
Gain on sale of real estate, net 89.0 11.9 108.2 13.8  
Expenses          
Performance allocation compensation (1.1) (2.0) 0.5 9.8  
General and administrative 8.7 9.4 17.1 17.3  
Depreciation and amortization 40.1 43.3 79.5 86.6  
Total expenses 133.1 128.5 257.6 267.6  
Non-operating income (expense)          
Interest expense (66.0) (53.2) (128.3) (103.7)  
Gain (loss ) on extinguishment (1.7) (1.1) (1.6) (1.1)  
Other income 24.3 3.6 21.3 9.4  
Benefit from (provision for) income taxes (10.3) (0.4) (6.4) (8.6)  
Net income 47.3 (0.9) 18.6 39.1  
Net loss (income) attributable to the noncontrolling interests 0.1 (0.3) (4.1) (0.2)  
Preferred dividends (8.4) (7.8) (16.3) (13.1)  
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders 39.0 (9.0) (1.8) 25.8  
Segment Reporting Information, Assets [Abstract]          
Total assets [1] 8,193.9   8,193.9   $ 8,271.8
Corporate          
Revenue          
Total revenue 0.6 0.4 0.9 0.8  
Principal co-investments 0.0 0.0   0.0  
Performance allocations 0.0 0.0   0.0  
Total (loss) income from unconsolidated investments 0.0 0.0 0.0 0.0  
Gain on sale of real estate, net 0.0 0.0      
Expenses          
Performance allocation compensation 0.0 0.0 0.0 0.0  
General and administrative 1.9 1.9 3.5 3.6  
Depreciation and amortization 0.0 0.0 0.0 0.0  
Total expenses 15.4 15.0 29.4 30.2  
Non-operating income (expense)          
Interest expense 25.0 22.5 50.1 44.0  
Gain (loss ) on extinguishment 0.0 0.0 0.0 0.0  
Other income 11.3 0.8 9.3 3.5  
Benefit from (provision for) income taxes (4.1) 8.1 1.6 1.8  
Net income (32.6) (28.2) (67.7) (68.1)  
Net loss (income) attributable to the noncontrolling interests 0.0 0.0 0.0    
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders (41.0) (36.0) (84.0) (81.2)  
Segment Reporting Information, Assets [Abstract]          
Total assets 290.3   290.3   200.2
Rental          
Revenue          
Total revenue 106.6 109.3 213.2 213.5  
Expenses          
Cost of goods and services 38.7 36.4 75.3 72.1  
Rental | Corporate          
Revenue          
Total revenue 0.0 0.0 0.0 0.0  
Expenses          
Cost of goods and services 0.0 0.0 0.0 0.0  
Hotel          
Revenue          
Total revenue 15.5 12.7 26.1 19.2  
Expenses          
Cost of goods and services 9.7 7.6 17.6 11.9  
Hotel | Corporate          
Revenue          
Total revenue 0.0 0.0 0.0 0.0  
Expenses          
Cost of goods and services 0.0 0.0 0.0 0.0  
Investment management fees          
Revenue          
Total revenue 19.1 11.0 30.1 22.3  
Investment management fees | Corporate          
Revenue          
Total revenue 0.0 0.0 0.0 0.0  
Loans          
Revenue          
Total revenue 4.7 2.7 8.4 5.0  
Loans | Corporate          
Revenue          
Total revenue 0.0 0.0 0.0 0.0  
Compensation and related          
Expenses          
Cost of goods and services 37.0 33.8 67.6 69.9  
Compensation and related | Corporate          
Expenses          
Cost of goods and services 13.5 13.1 25.9 26.6  
Other Revenue          
Revenue          
Total revenue 0.6 0.4 0.9 0.8  
Other Revenue | Corporate          
Revenue          
Total revenue 0.6 0.4 0.9 0.8  
Consolidated | Operating Segments          
Revenue          
Total revenue 122.1 122.0 239.3 232.7  
Principal co-investments 0.0 0.0   0.0  
Performance allocations 0.0 0.0   0.0  
Total (loss) income from unconsolidated investments 0.0 0.0 0.0 0.0  
Gain on sale of real estate, net 89.0 11.9 108.2 13.8  
Expenses          
Performance allocation compensation 0.0 0.0 0.0 0.0  
General and administrative 4.3 3.6 7.9 6.1  
Depreciation and amortization 40.1 43.3 79.5 86.6  
Total expenses 106.2 100.7 203.5 194.7  
Non-operating income (expense)          
Interest expense (41.0) (30.7) (78.2) (59.7)  
Gain (loss ) on extinguishment (1.7) (1.1) (1.6) (1.1)  
Other income 13.0 2.8 12.0 5.9  
Benefit from (provision for) income taxes (6.2) (8.5) (8.0) (10.4)  
Net income 69.0 (4.3) 68.2 (13.5)  
Net loss (income) attributable to the noncontrolling interests 0.1 (0.3) (4.1) (0.2)  
Preferred dividends 0.0 0.0 0.0 0.0  
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders 69.1 (4.6) 64.1 (13.7)  
Segment Reporting Information, Assets [Abstract]          
Total assets 5,338.6   5,338.6   5,684.1
Consolidated | Rental | Operating Segments          
Revenue          
Total revenue 106.6 109.3 213.2 213.5  
Expenses          
Cost of goods and services 38.7 36.4 75.3 72.1  
Consolidated | Hotel | Operating Segments          
Revenue          
Total revenue 15.5 12.7 26.1 19.2  
Expenses          
Cost of goods and services 9.7 7.6 17.6 11.9  
Consolidated | Investment management fees | Operating Segments          
Revenue          
Total revenue 0.0 0.0 0.0 0.0  
Consolidated | Loans | Operating Segments          
Revenue          
Total revenue 0.0 0.0 0.0 0.0  
Consolidated | Compensation and related | Operating Segments          
Expenses          
Cost of goods and services 13.4 9.8 23.2 18.0  
Consolidated | Other Revenue | Operating Segments          
Revenue          
Total revenue 0.0 0.0 0.0 0.0  
Co-Investments | Operating Segments          
Revenue          
Total revenue 23.8 13.7 38.5 27.3  
Principal co-investments 6.3 39.4 22.7 117.6  
Performance allocations (7.7) (8.7) (18.4) 18.5  
Total (loss) income from unconsolidated investments (1.4) 30.7 4.3 136.1  
Gain on sale of real estate, net 0.0 0.0 0.0 0.0  
Expenses          
Performance allocation compensation (1.1) (2.0) 0.5 9.8  
General and administrative 2.5 3.9 5.7 7.6  
Depreciation and amortization 0.0 0.0 0.0 0.0  
Total expenses 11.5 12.8 24.7 42.7  
Non-operating income (expense)          
Interest expense 0.0 0.0 0.0 0.0  
Gain (loss ) on extinguishment 0.0 0.0 0.0 0.0  
Other income   0.0 0.0 0.0  
Benefit from (provision for) income taxes 0.0 0.0 0.0 0.0  
Net income 10.9 31.6 18.1 120.7  
Net loss (income) attributable to the noncontrolling interests 0.0 0.0 0.0 0.0  
Preferred dividends 0.0 0.0 0.0    
Net income (loss) attributable to Kennedy-Wilson Holdings, Inc. common shareholders 10.9 31.6 18.1 120.7  
Segment Reporting Information, Assets [Abstract]          
Total assets 2,565.0   2,565.0   $ 2,387.5
Co-Investments | Rental | Operating Segments          
Revenue          
Total revenue 0.0 0.0 0.0 0.0  
Expenses          
Cost of goods and services 0.0 0.0 0.0 0.0  
Co-Investments | Hotel | Operating Segments          
Revenue          
Total revenue 0.0 0.0 0.0 0.0  
Expenses          
Cost of goods and services 0.0 0.0 0.0 0.0  
Co-Investments | Investment management fees | Operating Segments          
Revenue          
Total revenue 19.1 11.0 30.1 22.3  
Co-Investments | Loans | Operating Segments          
Revenue          
Total revenue 4.7 2.7 8.4 5.0  
Co-Investments | Compensation and related | Operating Segments          
Expenses          
Cost of goods and services 10.1 10.9 18.5 25.3  
Co-Investments | Other Revenue | Operating Segments          
Revenue          
Total revenue $ 0.0 $ 0.0 $ 0.0 $ 0.0  
Minimum          
Segment Reporting Information [Line Items]          
Average ownership interest in investments 5.00%   5.00%    
Maximum          
Segment Reporting Information [Line Items]          
Average ownership interest in investments 50.00%   50.00%    
[1] The assets and liabilities as of June 30, 2023 include $157.4 million (including cash held by consolidated investments of $4.7 million and real estate and acquired in place lease values, net of accumulated depreciation and amortization of $123.3 million) and $77.0 million (including investment debt of $53.8 million), respectively, from consolidated variable interest entities ("VIEs"). 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 VIEs. These assets can only be used to settle obligations of the consolidated VIEs, and the liabilities do not have recourse to the Company.