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New Accounting Pronouncements (Tables)

6 Months Ended

Jun. 30, 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):

		As Reported				Adoption of New Revenue Recognition 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 tables present the effects of the adoption of the new revenue recognition guidance on our consolidated statements of operations for the three and six months ended June 30, 2017 (dollars in thousands, except share amounts):

		Three Months Ended June 30, 2017
		As Reported				Adoption of New Revenue Recognition Guidance				As Adjusted
Revenue		$	3,342,215			$	1,097,356			$	4,439,571
Cost of services			2,318,562				1,090,978				3,409,540
Operating, administrative and other			712,374				241				712,615
Operating income			222,191				6,137				228,328
Income before provision for income taxes			266,758				6,137				272,895
Provision for income taxes			68,362				1,525				69,887
Net income			198,396				4,612				203,008
Net income attributable to CBRE Group, Inc.			197,165				4,612				201,777
Earnings per share:
Basic income per share		$	0.59			$	0.01			$	0.60
Diluted income per share			0.58				0.01				0.59

		Six Months Ended June 30, 2017
		As Reported				Adoption of New Revenue Recognition Guidance				As Adjusted
Revenue		$	6,323,419			$	2,167,118			$	8,490,537
Cost of services			4,405,641				2,150,376				6,556,017
Operating, administrative and other			1,318,605				636				1,319,241
Operating income			417,433				16,106				433,539
Income before provision for income taxes			449,534				16,106				465,640
Provision for income taxes			119,635				4,071				123,706
Net income			329,899				12,035				341,934
Net income attributable to CBRE Group, Inc.			326,762				12,035				338,797
Earnings per share:
Basic income per share		$	0.97			$	0.04			$	1.01
Diluted income per share			0.96				0.04				1.00

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- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

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