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New Accounting Pronouncements (Tables) | 3 Months Ended
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Mar. 31, 2018
ASU 2014-09 [Member] |
Schedule of Adoption of New Revenue Recognition Guidance on Financial statement | The following table presents the effects of the adoption of the new revenue recognition guidance on our consolidated balance sheet as of December 31, 2017 (dollars in thousands):
|  |  |  |  |  | Adoption of new |  |  |  |  |
|  |  |  |  |  | revenue recognition |  |  |  |  |
|  | As Reported |  |  | guidance |  |  | As Adjusted |
Receivables |  | $ | 3,207,285 |  |  | $ | (94,996 | ) |  | $ | 3,112,289 |
Contract assets |  | $ | — |  |  | $ | 273,053 |  |  | $ | 273,053 |
Total current assets |  | $ | 5,452,527 |  |  | $ | 178,057 |  |  | $ | 5,630,584 |
Other assets, net |  | $ | 422,965 |  |  | $ | 56,509 |  |  | $ | 479,474 |
Total assets |  | $ | 11,483,830 |  |  | $ | 234,566 |  |  | $ | 11,718,396 |
Accounts payable and accrued expenses |  | $ | 1,674,287 |  |  | $ | (100,615 | ) |  | $ | 1,573,672 |
Compensation and employee benefits payable |  | $ | 803,504 |  |  | $ | 100,930 |  |  | $ | 904,434 |
Accrued bonus and profit sharing |  | $ | 1,072,976 |  |  | $ | 5,369 |  |  | $ | 1,078,345 |
Contract liabilities |  | $ | — |  |  | $ | 100,615 |  |  | $ | 100,615 |
Total current liabilities |  | $ | 4,606,645 |  |  | $ | 106,299 |  |  | $ | 4,712,944 |
Deferred tax liabilities, net |  | $ | 114,017 |  |  | $ | 33,201 |  |  | $ | 147,218 |
Total liabilities |  | $ | 7,404,282 |  |  | $ | 139,500 |  |  | $ | 7,543,782 |
Accumulated earnings |  | $ | 3,348,385 |  |  | $ | 94,622 |  |  | $ | 3,443,007 |
Accumulated other comprehensive loss |  | $ | (552,858 | ) |  | $ | 444 |  |  | $ | (552,414 | )
Total CBRE Group, Inc. stockholders' equity |  | $ | 4,019,430 |  |  | $ | 95,066 |  |  | $ | 4,114,496 |
Total liabilities and equity |  | $ | 11,483,830 |  |  | $ | 234,566 |  |  | $ | 11,718,396 |
The following table presents the effects of the adoption of the new revenue recognition guidance on our consolidated statements of operations for the three months ended March 31, 2017 (dollars in thousands, except share amounts):
|  |  |  |  |  | Adoption of new |  |  |  |  |
|  |  |  |  |  | revenue recognition |  |  |  |  |
|  | As Reported |  |  | guidance |  |  | As Adjusted |
Revenue |  | $ | 2,981,204 |  |  | $ | 1,069,762 |  |  | $ | 4,050,966 |
Cost of services |  | $ | 2,087,079 |  |  | $ | 1,059,398 |  |  | $ | 3,146,477 |
Operating, administrative and other |  | $ | 606,231 |  |  | $ | 395 |  |  | $ | 606,626 |
Operating income |  | $ | 195,242 |  |  | $ | 9,969 |  |  | $ | 205,211 |
Income before provision for income taxes |  | $ | 182,776 |  |  | $ | 9,969 |  |  | $ | 192,745 |
Provision for income taxes |  | $ | 51,273 |  |  | $ | 2,546 |  |  | $ | 53,819 |
Net income |  | $ | 131,503 |  |  | $ | 7,423 |  |  | $ | 138,926 |
Net income attributable to CBRE Group, Inc. |  | $ | 129,597 |  |  | $ | 7,423 |  |  | $ | 137,020 |
Basic income per share |  | $ | 0.38 |  |  | $ | 0.03 |  |  | $ | 0.41 |
Diluted income per share |  | $ | 0.38 |  |  | $ | 0.02 |  |  | $ | 0.40 |

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