Unaudited Quarterly Information

12 Months Ended

Dec. 31, 2010

Unaudited Quarterly Information [Abstract]

Unaudited Quarterly Information

NOTE 24—UNAUDITED QUARTERLY INFORMATION

Year Ended December 31, 2010	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Revenues	$	10,826,000		$	9,046,000		$	11,773,000		$	18,891,000
Operating expenses		14,871,000			12,509,000			17,647,000			24,910,000
Equity in joint venture (loss) income		657,000			(686,000	)		5,191,000			5,386,000
Interest income from loan pool participations and notes receivable		651,000			3,090,000			4,209,000			3,905,000
Operating income (loss)		(2,737,000	)		(1,059,000	)		3,526,000			3,272,000
Non-operating (expenses) income		(1,833,000	)		16,818,000			(6,842,000	)		(933,000	)
Income (loss) before provision for income taxes		(4,570,000	)		15,759,000			(3,316,000	)		2,339,000
(Provision for) benefit from income taxes		1,998,000			(5,950,000	)		(383,000	)		608,000
Net income (loss)		(2,572,000	)		9,809,000			(3,699,000	)		2,947,000
Net income attributable to noncontrolling interests		(568,000	)		(591,000	)		(1,215,000	)		(605,000	)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. shareholders	$	(3,140,000	)	$	9,218,000		$	(4,914,000	)	$	2,342,000
Preferred stock dividends and accretion of issuance costs		—			(720,000	)		(1,804,000	)		(2,034,000	)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. common shareholders	$	(3,140,000	)	$	8,498,000		$	(6,718,000	)	$	308,000
Basic (loss) earnings per share	$	(0.08	)	$	0.22		$	(0.17	)	$	0.01
Diluted (loss) earnings per share		(0.08	)		0.20			(0.17	)		0.01

Year Ended December 31, 2009	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
Revenues	$	12,483,000		$	6,817,000		$	41,021,000		$	25,914,000
Operating expenses		11,942,000			8,660,000			32,687,000			41,583,000
Equity in joint venture (loss) income		(192,000	)		(269,000	)		893,000			7,587,000
Operating income (loss)		349,000			(2,112,000	)		9,227,000			(8,082,000	)
Non-operating expenses		2,461,000			2,741,000			5,611,000			2,187,000
(Loss) income before provision for income taxes		(2,112,000	)		(4,853,000	)		3,616,000			(10,269,000	)
Benefit from (provision for) income taxes		653,000			1,562,000			(251,000	)		1,997,000
Net (loss) income		(1,459,000	)		(3,291,000	)		3,365,000			(8,272,000	)
Net loss (income) attributable to noncontrolling interests		57,000			210,000			(3,325,000	)		(2,621,000	)
Net (loss) income attributable to Kennedy-Wilson Holdings, Inc. shareholders	$	(1,402,000	)	$	(3,081,000	)	$	40,000		$	(10,893,000	)
Basic (loss) earnings per share	$	(0.06	)	$	(0.12	)	$	—		$	(0.34	)
Diluted (loss) earnings per share		(0.06	)		(0.12	)		—			(0.34	)