13.

Segments

We report our operations through the following segments: (1) Americas; (2) Europe, Middle East and Africa (EMEA); (3) Asia Pacific; (4) Global Investment Management; and (5) Development Services.

Summarized financial information by segment is as follows (dollars in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
			(As Adjusted) (1)				(As Adjusted) (1)
Revenue
Americas	$	3,140,427	$	2,826,923	$	5,990,651	$	5,466,129
EMEA		1,315,452		1,016,020		2,496,706		1,920,651
Asia Pacific		538,200		486,899		1,033,659		890,245
Global Investment Management		98,947		92,763		222,637		182,329
Development Services		18,408		16,966		41,733		31,183
Total revenue	$	5,111,434	$	4,439,571	$	9,785,386	$	8,490,537
Adjusted EBITDA
Americas	$	258,353	$	233,711	$	484,196	$	458,936
EMEA		66,519		70,293		103,465		105,748
Asia Pacific		42,861		44,556		76,741		67,832
Global Investment Management		15,901		23,910		45,593		49,769
Development Services		55,673		46,216		77,119		49,578
Total Adjusted EBITDA	$	439,307	$	418,686	$	787,114	$	731,863

(1)	We adopted new revenue recognition guidance in the first quarter of 2018. Certain restatements have been made to the 2017 financial statements to conform with the 2018 presentation. See Notes 2 and 3 for more information.

Adjusted EBITDA is the measure reported to the chief operating decision maker for purposes of making decisions about allocating resources to each segment and assessing performance of each segment. EBITDA represents earnings before net interest expense, write-off of financing costs on extinguished debt, income taxes, depreciation and amortization. Amounts shown for adjusted EBITDA further remove (from EBITDA) the impact of certain cash and non-cash charges related to acquisitions and certain carried interest incentive compensation reversal to align with the timing of associated revenue.

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

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2018		2017			2018			2017
			(As Adjusted) (1)						(As Adjusted) (1)
Net income attributable to CBRE Group, Inc.	$	228,667	$	201,777		$	378,955		$	338,797
Add:
Depreciation and amortization		113,399		100,386			221,564			194,423
Interest expense		26,885		35,430			55,743			69,440
Write-off of financing costs on extinguished debt		—		—			27,982			—
Provision for income taxes		70,319		69,887			116,483			123,706
Less:
Interest income		1,489		1,427			5,110			3,838
EBITDA		437,781		406,053			795,617			722,528
Adjustments:
Carried interest incentive compensation expense (reversal) to align with the timing of associated revenue		1,526		(2,775	)		(8,503	)		(18,016	)
Integration and other costs related to acquisitions		—		15,408			—			27,351
Adjusted EBITDA	$	439,307	$	418,686		$	787,114		$	731,863

(1)	We adopted new revenue recognition guidance in the first quarter of 2018. Certain restatements have been made to the 2017 financial statements to conform with the 2018 presentation. See Notes 2 and 3 for more information.

Geographic Information

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
			(As Adjusted) (1)				(As Adjusted) (1)
Revenue
United States	$	2,908,185	$	2,644,445	$	5,582,402	$	5,116,851
United Kingdom		634,264		518,988		1,214,781		991,143
All other countries		1,568,985		1,276,138		2,988,203		2,382,543
Total revenue	$	5,111,434	$	4,439,571	$	9,785,386	$	8,490,537

(1)	We adopted new revenue recognition guidance in the first quarter of 2018. Certain restatements have been made to the 2017 financial statements to conform with the 2018 presentation. See Notes 2 and 3 for more information.