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Segments (Tables) | 12 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
Schedule Of Summarized Financial Reporting Information By Segment Table Text Block | Summarized financial information by segment is as follows (dollars in thousands):
|  | Year Ended December 31, |
|  |  | 2017 |  |  | 2016 (1) |  |  | 2015 (1) |
Revenue |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 7,860,239 |  |  | $ | 7,246,459 |  |  | $ | 6,201,676 |
EMEA |  |  | 4,164,789 |  |  |  | 3,884,596 |  |  |  | 2,984,312 |
Asia Pacific |  |  | 1,729,309 |  |  |  | 1,499,320 |  |  |  | 1,143,479 |
Global Investment Management |  |  | 377,644 |  |  |  | 369,800 |  |  |  | 460,700 |
Development Services |  |  | 77,627 |  |  |  | 71,414 |  |  |  | 65,643 |
Total revenue |  | $ | 14,209,608 |  |  | $ | 13,071,589 |  |  | $ | 10,855,810 |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 289,338 |  |  | $ | 254,118 |  |  | $ | 198,986 |
EMEA |  |  | 72,322 |  |  |  | 66,619 |  |  |  | 68,263 |
Asia Pacific |  |  | 18,258 |  |  |  | 17,810 |  |  |  | 15,609 |
Global Investment Management |  |  | 24,123 |  |  |  | 25,911 |  |  |  | 29,020 |
Development Services |  |  | 2,073 |  |  |  | 2,469 |  |  |  | 2,218 |
Total depreciation and amortization |  | $ | 406,114 |  |  | $ | 366,927 |  |  | $ | 314,096 |
(1) | In 2017, we changed the presentation of the operating results of one of our emerging businesses among our regional services reporting segments. Prior year amounts have been reclassified to conform with the current-year presentation. This change had no impact on our consolidated results.
|  | Year Ended December 31, |
|  |  | 2017 |  |  | 2016 (1) |  |  | 2015 (1) |
Equity income from unconsolidated subsidiaries |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 18,789 |  |  | $ | 17,892 |  |  | $ | 18,413 |
EMEA |  |  | 1,553 |  |  |  | 1,817 |  |  |  | 1,934 |
Asia Pacific |  |  | 397 |  |  |  | 223 |  |  |  | 83 |
Global Investment Management |  |  | 7,923 |  |  |  | 7,243 |  |  |  | 5,972 |
Development Services |  |  | 181,545 |  |  |  | 170,176 |  |  |  | 136,447 |
Total equity income from unconsolidated subsidiaries |  | $ | 210,207 |  |  | $ | 197,351 |  |  | $ | 162,849 |
Adjusted EBITDA |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 1,013,864 |  |  | $ | 950,355 |  |  | $ | 858,174 |
EMEA |  |  | 305,743 |  |  |  | 271,648 |  |  |  | 212,687 |
Asia Pacific |  |  | 175,900 |  |  |  | 141,912 |  |  |  | 117,557 |
Global Investment Management |  |  | 94,373 |  |  |  | 83,151 |  |  |  | 134,240 |
Development Services |  |  | 119,654 |  |  |  | 113,937 |  |  |  | 90,066 |
Total Adjusted EBITDA |  | $ | 1,709,534 |  |  | $ | 1,561,003 |  |  | $ | 1,412,724 |
(1) | In 2017, we changed the presentation of the operating results of one of our emerging businesses among our regional services reporting segments. Prior year amounts have been reclassified to conform with the current-year presentation. This change had no impact on our consolidated results.
Schedule Of Financial Reporting Information To Calculate EBITDA By Segment Table Text Block | Adjusted EBITDA is calculated as follows (dollars in thousands):
|  | Year Ended December 31, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Net income attributable to CBRE Group, Inc. |  | $ | 691,479 |  |  | $ | 571,973 |  |  | $ | 547,132 |
Add: |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 406,114 |  |  |  | 366,927 |  |  |  | 314,096 |
Interest expense |  |  | 136,814 |  |  |  | 144,851 |  |  |  | 118,880 |
Write-off of financing costs on extinguished debt |  |  | — |  |  |  | — |  |  |  | 2,685 |
Provision for income taxes |  |  | 466,147 |  |  |  | 296,662 |  |  |  | 320,853 |
Less: |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | 9,853 |  |  |  | 8,051 |  |  |  | 6,311 |
EBITDA |  |  | 1,690,701 |  |  |  | 1,372,362 |  |  |  | 1,297,335 |
Adjustments: |  |  |  |  |  |  |  |  |  |  |  |
Integration and other costs related to acquisitions |  |  | 27,351 |  |  |  | 125,743 |  |  |  | 48,865 |
Carried interest incentive compensation (reversal) expense to align with the timing of associated revenue |  |  | (8,518 | ) |  |  | (15,558 | ) |  |  | 26,085 |
Cost-elimination expenses (2) |  |  | — |  |  |  | 78,456 |  |  |  | 40,439 |
Adjusted EBITDA |  | $ | 1,709,534 |  |  | $ | 1,561,003 |  |  | $ | 1,412,724 |
(2) | Represents cost-elimination expenses relating to a program initiated in the fourth quarter of 2015 and completed in the third quarter of 2016 (our cost-elimination project) to reduce the company’s global cost structure after several years of significant revenue and related cost growth. Cost-elimination expenses incurred during the years ended December 31, 2016 and 2015 consisted of $73.6 million and $32.6 million, respectively, of severance costs related to headcount reductions in connection with the program and $4.9 million and $7.8 million, respectively, of third-party contract termination costs. The total amount for each period does have a cash impact.
Schedule Of Capital Expenditures By Segment Table Text Block |
|  | Year Ended December 31, |
|  |  | 2017 |  |  |  | 2016 |  |  |  | 2015 |
|  | (Dollars in thousands) |
Capital expenditures |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 127,135 |  |  | $ | 134,046 |  |  | $ | 94,376 |
EMEA |  |  | 28,716 |  |  |  | 35,452 |  |  |  | 33,092 |
Asia Pacific |  |  | 19,360 |  |  |  | 19,179 |  |  |  | 7,911 |
Global Investment Management |  |  | 2,776 |  |  |  | 2,273 |  |  |  | 3,558 |
Development Services |  |  | 55 |  |  |  | 255 |  |  |  | 527 |
Total capital expenditures |  | $ | 178,042 |  |  | $ | 191,205 |  |  | $ | 139,464 |
Schedule Of Identifiable Assets By Segment Table Text Block |
|  | December 31, |
|  |  | 2017 |  |  |  | 2016 |
|  | (Dollars in thousands) |
Identifiable assets |  |  |  |  |  |  |  |
Americas |  | $ | 5,599,820 |  |  | $ | 5,555,400 |
EMEA |  |  | 3,005,122 |  |  |  | 2,592,800 |
Asia Pacific |  |  | 888,992 |  |  |  | 712,271 |
Global Investment Management |  |  | 1,075,691 |  |  |  | 913,563 |
Development Services |  |  | 164,455 |  |  |  | 188,762 |
Corporate |  |  | 749,750 |  |  |  | 816,791 |
Total identifiable assets |  | $ | 11,483,830 |  |  | $ | 10,779,587 |
Schedule Of Investments In Unconsolidated Subsidiaries By Segment Table Text Block | Identifiable assets by segment are those assets used in our operations in each segment. Corporate identifiable assets primarily include cash and cash equivalents available for general corporate use and net deferred tax assets.
|  | December 31, |
|  |  | 2017 |  |  |  | 2016 |
|  | (Dollars in thousands) |
Investments in unconsolidated subsidiaries |  |  |  |  |  |  |  |
Americas |  | $ | 39,105 |  |  | $ | 20,202 |
EMEA |  |  | 852 |  |  |  | 388 |
Asia Pacific |  |  | 6,581 |  |  |  | 5,802 |
Global Investment Management |  |  | 83,430 |  |  |  | 87,501 |
Development Services |  |  | 108,033 |  |  |  | 118,345 |
Total investments in unconsolidated subsidiaries |  | $ | 238,001 |  |  | $ | 232,238 |
Summary of Geographic Information | Revenue in the table below is allocated based upon the country in which services are performed (dollars in thousands):
|  | Year Ended December 31, |
|  |  | 2017 |  |  |  | 2016 |  |  |  | 2015 |
Revenue |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 7,424,249 |  |  | $ | 6,917,221 |  |  | $ | 5,991,826 |
United Kingdom |  |  | 2,104,517 |  |  |  | 2,008,776 |  |  |  | 1,861,199 |
All other countries |  |  | 4,680,842 |  |  |  | 4,145,592 |  |  |  | 3,002,785 |
Total revenue |  | $ | 14,209,608 |  |  | $ | 13,071,589 |  |  | $ | 10,855,810 |
The long-lived assets in the table below are comprised of net property and equipment (dollars in thousands).
|  | December 31, |
|  |  | 2017 |  |  |  | 2016 |
Property and equipment, net |  |  |  |  |  |  |  |
United States |  | $ | 432,102 |  |  | $ | 396,608 |
United Kingdom |  |  | 61,335 |  |  |  | 61,327 |
All other countries |  |  | 124,302 |  |  |  | 102,821 |
Total property and equipment, net |  | $ | 617,739 |  |  | $ | 560,756 |

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