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Revenue from Contracts with Customers (Tables)
6 Months Ended
Jun. 30, 2018
Revenue From Contract With Customer [Abstract]  
Disaggregation of Revenue from Contracts with Customers

The following tables represent a disaggregation of revenue from contracts with customers for the three and six months ended June 30, 2018 and 2017 by type of service and/or region (dollars in thousands):

 

 

 

Three Months Ended June 30, 2018

 

 

 

Americas

 

 

EMEA

 

 

APAC

 

 

Global Investment Management

 

 

Development Services

 

 

Consolidated

 

Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Occupier outsourcing

 

$

1,923,585

 

 

$

995,265

 

 

$

264,717

 

 

$

 

 

$

 

 

$

3,183,567

 

Leasing

 

 

536,660

 

 

 

106,295

 

 

 

100,186

 

 

 

 

 

 

839

 

 

 

743,980

 

Sales

 

 

269,636

 

 

 

98,081

 

 

 

68,883

 

 

 

 

 

 

 

 

 

436,600

 

Property management

 

 

172,343

 

 

 

60,706

 

 

 

69,466

 

 

 

 

 

 

2,106

 

 

 

304,621

 

Valuation

 

 

64,346

 

 

 

43,256

 

 

 

30,765

 

 

 

 

 

 

 

 

 

138,367

 

Commercial mortgage origination (1)

 

 

27,090

 

 

 

1,214

 

 

 

343

 

 

 

 

 

 

 

 

 

28,647

 

Investment management

 

 

 

 

 

 

 

 

 

 

 

98,947

 

 

 

 

 

 

98,947

 

Development services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

15,463

 

 

 

15,463

 

Topic 606 Revenue

 

 

2,993,660

 

 

 

1,304,817

 

 

 

534,360

 

 

 

98,947

 

 

 

18,408

 

 

 

4,950,192

 

Out of Scope of Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial mortgage origination

 

 

91,167

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

91,167

 

Loan servicing

 

 

41,327

 

 

 

2,360

 

 

 

221

 

 

 

 

 

 

 

 

 

43,908

 

Other revenue

 

 

14,273

 

 

 

8,275

 

 

 

3,619

 

 

 

 

 

 

 

 

 

26,167

 

Total Out of Scope of Topic 606 Revenue

 

 

146,767

 

 

 

10,635

 

 

 

3,840

 

 

 

 

 

 

 

 

 

161,242

 

Total revenue

 

$

3,140,427

 

 

$

1,315,452

 

 

$

538,200

 

 

$

98,947

 

 

$

18,408

 

 

$

5,111,434

 

 

 

 

 

Three Months Ended June 30, 2017 (As Adjusted) (2)

 

 

 

Americas

 

 

EMEA

 

 

APAC

 

 

Global Investment Management

 

 

Development Services

 

 

Consolidated

 

Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Occupier outsourcing

 

$

1,742,122

 

 

$

726,890

 

 

$

236,274

 

 

$

 

 

$

 

 

$

2,705,286

 

Leasing

 

 

450,208

 

 

 

88,076

 

 

 

81,606

 

 

 

 

 

 

26

 

 

 

619,916

 

Sales

 

 

261,710

 

 

 

94,055

 

 

 

78,303

 

 

 

 

 

 

165

 

 

 

434,233

 

Property management

 

 

161,116

 

 

 

59,249

 

 

 

56,560

 

 

 

 

 

 

3,098

 

 

 

280,023

 

Valuation

 

 

61,599

 

 

 

37,229

 

 

 

30,940

 

 

 

 

 

 

 

 

 

129,768

 

Commercial mortgage origination (1)

 

 

29,883

 

 

 

1,985

 

 

 

915

 

 

 

 

 

 

 

 

 

32,783

 

Investment management

 

 

 

 

 

 

 

 

 

 

 

92,763

 

 

 

 

 

 

92,763

 

Development services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

13,677

 

 

 

13,677

 

Topic 606 Revenue

 

 

2,706,638

 

 

 

1,007,484

 

 

 

484,598

 

 

 

92,763

 

 

 

16,966

 

 

 

4,308,449

 

Out of Scope of Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial mortgage origination

 

 

71,727

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

71,727

 

Loan servicing

 

 

37,190

 

 

 

2,682

 

 

 

 

 

 

 

 

 

 

 

 

39,872

 

Other revenue

 

 

11,368

 

 

 

5,854

 

 

 

2,301

 

 

 

 

 

 

 

 

 

19,523

 

Total Out of Scope of Topic 606 Revenue

 

 

120,285

 

 

 

8,536

 

 

 

2,301

 

 

 

 

 

 

 

 

 

131,122

 

Total revenue

 

$

2,826,923

 

 

$

1,016,020

 

 

$

486,899

 

 

$

92,763

 

 

$

16,966

 

 

$

4,439,571

 

 

 

(1)

We earn fees for arranging financing for borrowers with third-party lender contacts. Such fees are in scope of Topic 606.

(2)

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.

 

 

 

Six Months Ended June 30, 2018

 

 

 

Americas

 

 

EMEA

 

 

APAC

 

 

Global Investment Management

 

 

Development Services

 

 

Consolidated

 

Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Occupier outsourcing

 

$

3,717,732

 

 

$

1,889,082

 

 

$

530,832

 

 

$

 

 

$

 

 

$

6,137,646

 

Leasing

 

 

936,858

 

 

 

206,884

 

 

 

171,765

 

 

 

 

 

 

959

 

 

 

1,316,466

 

Sales

 

 

537,311

 

 

 

176,321

 

 

 

128,118

 

 

 

 

 

 

418

 

 

 

842,168

 

Property management

 

 

346,171

 

 

 

118,917

 

 

 

139,496

 

 

 

 

 

 

3,661

 

 

 

608,245

 

Valuation

 

 

123,412

 

 

 

84,319

 

 

 

56,854

 

 

 

 

 

 

 

 

 

264,585

 

Commercial mortgage origination (1)

 

 

48,917

 

 

 

2,437

 

 

 

394

 

 

 

 

 

 

 

 

 

51,748

 

Investment management

 

 

 

 

 

 

 

 

 

 

 

222,637

 

 

 

 

 

 

222,637

 

Development services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

36,695

 

 

 

36,695

 

Topic 606 Revenue

 

 

5,710,401

 

 

 

2,477,960

 

 

 

1,027,459

 

 

 

222,637

 

 

 

41,733

 

 

 

9,480,190

 

Out of Scope of Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial mortgage origination

 

 

175,360

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

175,360

 

Loan servicing

 

 

80,853

 

 

 

4,648

 

 

 

221

 

 

 

 

 

 

 

 

 

85,722

 

Other revenue

 

 

24,037

 

 

 

14,098

 

 

 

5,979

 

 

 

 

 

 

 

 

 

44,114

 

Total Out of Scope of Topic 606 Revenue

 

 

280,250

 

 

 

18,746

 

 

 

6,200

 

 

 

 

 

 

 

 

 

305,196

 

Total revenue

 

$

5,990,651

 

 

$

2,496,706

 

 

$

1,033,659

 

 

$

222,637

 

 

$

41,733

 

 

$

9,785,386

 

 

 

 

 

Six Months Ended June 30, 2017 (As Adjusted) (2)

 

 

 

Americas

 

 

EMEA

 

 

APAC

 

 

Global Investment Management

 

 

Development Services

 

 

Consolidated

 

Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Occupier outsourcing

 

$

3,406,476

 

 

$

1,393,584

 

 

$

442,699

 

 

$

 

 

$

 

 

$

5,242,759

 

Leasing

 

 

844,073

 

 

 

163,007

 

 

 

142,134

 

 

 

 

 

 

180

 

 

 

1,149,394

 

Sales

 

 

495,506

 

 

 

161,355

 

 

 

130,471

 

 

 

 

 

 

695

 

 

 

788,027

 

Property management

 

 

322,513

 

 

 

113,989

 

 

 

111,239

 

 

 

 

 

 

5,008

 

 

 

552,749

 

Valuation

 

 

118,780

 

 

 

69,738

 

 

 

57,705

 

 

 

 

 

 

 

 

 

246,223

 

Commercial mortgage origination (1)

 

 

49,701

 

 

 

3,805

 

 

 

1,454

 

 

 

 

 

 

 

 

 

54,960

 

Investment management

 

 

 

 

 

 

 

 

 

 

 

182,329

 

 

 

 

 

 

182,329

 

Development services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

25,300

 

 

 

25,300

 

Topic 606 Revenue

 

 

5,237,049

 

 

 

1,905,478

 

 

 

885,702

 

 

 

182,329

 

 

 

31,183

 

 

 

8,241,741

 

Out of Scope of Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial mortgage origination

 

 

134,274

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

134,274

 

Loan servicing

 

 

70,724

 

 

 

5,558

 

 

 

 

 

 

 

 

 

 

 

 

76,282

 

Other revenue

 

 

24,082

 

 

 

9,615

 

 

 

4,543

 

 

 

 

 

 

 

 

 

38,240

 

Total Out of Scope of Topic 606 Revenue

 

 

229,080

 

 

 

15,173

 

 

 

4,543

 

 

 

 

 

 

 

 

 

248,796

 

Total revenue

 

$

5,466,129

 

 

$

1,920,651

 

 

$

890,245

 

 

$

182,329

 

 

$

31,183

 

 

$

8,490,537

 

 

(1)

We earn fees for arranging financing for borrowers with third-party lender contacts. Such fees are in scope of Topic 606.

(2)

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.