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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 584,064 $ 558,877 $ 513,503
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 366,927 314,096 265,101
Amortization and write-off of financing costs on extinguished debt 10,935 12,311 13,155
Write-down of impaired assets     8,615
Gain on sale of loans, servicing rights and other assets (201,362) (140,828) (95,636)
Net realized and unrealized (gains) losses from investments (4,688) 3,809 (11,237)
Gain on disposition of real estate held for investment (9,901) (8,573) (28,005)
Equity income from unconsolidated subsidiaries (197,351) (162,849) (101,714)
Provision for doubtful accounts 4,711 10,211 8,165
Deferred income taxes (9,642) (14,935) (28,469)
Compensation expense for equity awards 63,484 74,709 59,757
Incremental tax benefit from stock options exercised   (2,277) (1,218)
Distribution of earnings from unconsolidated subsidiaries 29,031 36,630 27,903
Tenant concessions received 22,547 7,861 18,343
Purchase of trading securities (87,765) (85,707) (71,021)
Proceeds from sale of trading securities 105,866 78,798 74,237
Proceeds from securities sold, not yet purchased 17,932 16,014 2,271
Securities purchased to cover short sales (19,017) (13,147) (453)
Increase in receivables (236,923) (231,979) (307,979)
Increase in prepaid expenses and other assets (93,192) (84,997) (47,015)
(Increase) decrease in real estate held for sale and under development (2,245) (16,003) 47,276
Increase in accounts payable and accrued expenses 2,235 177,567 31,526
Increase in compensation and employee benefits payable and accrued bonus and profit sharing 132,947 115,805 344,987
(Increase) decrease in income taxes receivable/payable (6,334) 43,085 (43,194)
(Decrease) increase in other liabilities (3,231) (15,543) 589
Other operating activities, net (18,713) (21,038) (17,707)
Net cash provided by operating activities 450,315 651,897 661,780
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (191,205) (139,464) (171,242)
Acquisition of Global Workplace Solutions (GWS), including net assets acquired, intangibles and goodwill, net of cash acquired (10,477) (1,421,663)  
Acquisition of businesses (other than GWS), including net assets acquired, intangibles and goodwill, net of cash acquired (31,634) (161,106) (147,057)
Contributions to unconsolidated subsidiaries (66,816) (71,208) (59,177)
Distributions from unconsolidated subsidiaries 213,446 187,577 104,267
Net proceeds from disposition of real estate held for investment 44,326 3,584 77,278
Additions to real estate held for investment (3,203) (2,053) (10,961)
Proceeds from the sale of servicing rights and other assets 43,531 30,432 25,541
(Increase) decrease in restricted cash (2,552) (49,012) 30,889
Purchase of available for sale securities (37,661) (40,287) (89,885)
Proceeds from the sale of available for sale securities 35,051 42,572 88,214
Other investing activities, net (245) 1,669 577
Net cash used in investing activities (7,439) (1,618,959) (151,556)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from senior term loans   900,000  
Repayment of senior term loans (136,250) (657,488) (39,650)
Proceeds from revolving credit facility 2,909,000 2,643,500 1,873,568
Repayment of revolving credit facility (2,909,000) (2,648,012) (1,999,422)
Proceeds from issuance of senior notes   595,440 426,875
Repayment of 6.625% senior notes     (350,000)
Proceeds from notes payable on real estate held for investment 7,274   5,022
Repayment of notes payable on real estate held for investment (33,944) (1,576) (27,563)
Proceeds from notes payable on real estate held for sale and under development 17,727 20,879 8,274
Repayment of notes payable on real estate held for sale and under development (4,102) (1,186) (80,218)
Shares and units repurchased for payment of taxes on equity awards (27,426) (24,523) (16,685)
Proceeds from exercise of stock options 915 7,525 6,203
Incremental tax benefit from stock options exercised   2,277 1,218
Non-controlling interest contributions 2,272 5,909 2,938
Non-controlling interest distributions (19,133) (16,582) (33,971)
Payment of financing costs (5,618) (30,664) (5,947)
Other financing activities, net (1,358) (5,951) (2,711)
Net cash (used in) provided by financing activities (199,643) 789,548 (232,069)
Effect of currency exchange rate changes on cash and cash equivalents (21,060) (22,967) (29,183)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 222,173 (200,481) 248,972
CASH AND CASH EQUIVALENTS, AT BEGINNING OF PERIOD 540,403 740,884 491,912
CASH AND CASH EQUIVALENTS, AT END OF PERIOD 762,576 540,403 740,884
Cash paid during the period for:      
Interest 125,800 88,078 118,749
Income taxes, net $ 294,848 285,730 331,257
4.875% Senior Notes [Member]      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of senior notes   $ 595,440  
5.25% Senior Notes [Member]      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from issuance of senior notes     426,875
6.625% senior notes [Member]      
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayment of 6.625% senior notes     $ (350,000)