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Segments (Tables)
3 Months Ended
Mar. 31, 2018
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):

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2018

 

 

2017

 

 

 

 

 

 

 

(As Adjusted) (1)

 

Revenue

 

 

 

 

 

 

 

 

Americas

 

$

2,850,224

 

 

$

2,639,206

 

EMEA

 

 

1,181,254

 

 

 

904,631

 

Asia Pacific

 

 

495,459

 

 

 

403,346

 

Global Investment Management

 

 

123,690

 

 

 

89,566

 

Development Services

 

 

23,325

 

 

 

14,217

 

Total revenue

 

$

4,673,952

 

 

$

4,050,966

 

Adjusted EBITDA

 

 

 

 

 

 

 

 

Americas

 

$

225,843

 

 

$

225,225

 

EMEA

 

 

36,946

 

 

 

35,455

 

Asia Pacific

 

 

33,880

 

 

 

23,276

 

Global Investment Management

 

 

29,692

 

 

 

25,859

 

Development Services

 

 

21,446

 

 

 

3,362

 

Total Adjusted EBITDA

 

$

347,807

 

 

$

313,177

 

 

 

(1)

In the first quarter of 2018, we adopted new revenue recognition guidance. Certain restatements have been made to the 2017 financial statements to conform with the 2018 presentation. See Notes 2 and 3 for more information.

Schedule Of Financial Reporting Information To Calculate EBITDA By Segment Table Text Block

Adjusted EBITDA is calculated as follows (dollars in thousands):

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2018

 

 

2017

 

 

 

 

 

 

 

(As Adjusted) (1)

 

Net income attributable to CBRE Group, Inc.

 

$

150,288

 

 

$

137,020

 

Add:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

108,165

 

 

 

94,037

 

Interest expense

 

 

28,858

 

 

 

34,010

 

Write-off of financing costs on extinguished debt

 

 

27,982

 

 

 

 

Provision for income taxes

 

 

46,164

 

 

 

53,819

 

Less:

 

 

 

 

 

 

 

 

Interest income

 

 

3,621

 

 

 

2,411

 

EBITDA

 

 

357,836

 

 

 

316,475

 

Adjustments:

 

 

 

 

 

 

 

 

Carried interest incentive compensation reversal to

   align with the timing of associated revenue

 

 

(10,029

)

 

 

(15,241

)

Integration and other costs related to acquisitions

 

 

 

 

 

11,943

 

Adjusted EBITDA

 

$

347,807

 

 

$

313,177

 

 

Summary of Geographic Information

Revenue in the table below is allocated based upon the country in which services are performed (dollars in thousands):

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2018

 

 

2017

 

 

 

 

 

 

 

(As Adjusted) (1)

 

Revenue

 

 

 

 

 

 

 

 

United States

 

$

2,674,217

 

 

$

2,472,406

 

United Kingdom

 

 

580,516

 

 

 

472,155

 

All other countries

 

 

1,419,219

 

 

 

1,106,405

 

Total revenue

 

$

4,673,952

 

 

$

4,050,966

 

 

 

(1)

In the first quarter of 2018, we adopted new revenue recognition guidance. Certain restatements have been made to the 2017 financial statements to conform with the 2018 presentation. See Notes 2 and 3 for more information.