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Segments (Tables) | 9 Months Ended
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Sep. 30, 2018
Segment Reporting [Abstract] |
Summarized Financial Information by Segment | Summarized financial information by segment is as follows (dollars in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  |  |  |  |  | (As Adjusted) (1) |  |  |  |  |  |  | (As Adjusted) (1) |
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 3,280,722 |  |  | $ | 2,939,632 |  |  | $ | 9,271,373 |  |  | $ | 8,405,761 |
EMEA |  |  | 1,331,436 |  |  |  | 1,088,699 |  |  |  | 3,828,142 |  |  |  | 3,009,350 |
Asia Pacific |  |  | 529,982 |  |  |  | 502,032 |  |  |  | 1,563,641 |  |  |  | 1,392,277 |
Global Investment Management |  |  | 93,061 |  |  |  | 92,122 |  |  |  | 315,698 |  |  |  | 274,451 |
Development Services |  |  | 25,753 |  |  |  | 16,111 |  |  |  | 67,486 |  |  |  | 47,294 |
Total revenue |  | $ | 5,260,954 |  |  | $ | 4,638,596 |  |  | $ | 15,046,340 |  |  | $ | 13,129,133 |
Adjusted EBITDA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Americas |  | $ | 255,813 |  |  | $ | 239,061 |  |  | $ | 740,009 |  |  | $ | 697,997 |
EMEA |  |  | 78,671 |  |  |  | 72,145 |  |  |  | 182,136 |  |  |  | 177,893 |
Asia Pacific |  |  | 41,393 |  |  |  | 43,307 |  |  |  | 118,134 |  |  |  | 111,139 |
Global Investment Management |  |  | 10,555 |  |  |  | 23,202 |  |  |  | 56,148 |  |  |  | 72,971 |
Development Services |  |  | 76,976 |  |  |  | 37,524 |  |  |  | 154,095 |  |  |  | 87,102 |
Total Adjusted EBITDA |  | $ | 463,408 |  |  | $ | 415,239 |  |  | $ | 1,250,522 |  |  | $ | 1,147,102 |
(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 Calculation by Segment | Adjusted EBITDA is calculated as follows (dollars in thousands):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  |  |  |  |  | (As Adjusted) (1) |  |  |  |  |  |  | (As Adjusted) (1) |
Net income attributable to CBRE Group, Inc. |  | $ | 290,469 |  |  | $ | 199,088 |  |  | $ | 669,424 |  |  | $ | 537,885 |
Add: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  | 113,484 |  |  |  | 102,591 |  |  |  | 335,048 |  |  |  | 297,014 |
Interest expense |  |  | 26,651 |  |  |  | 34,483 |  |  |  | 82,394 |  |  |  | 103,923 |
Write-off of financing costs on extinguished debt |  |  | — |  |  |  | — |  |  |  | 27,982 |  |  |  | — |
Provision for income taxes |  |  | 94,963 |  |  |  | 77,072 |  |  |  | 211,446 |  |  |  | 200,778 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest income |  |  | 1,231 |  |  |  | 3,129 |  |  |  | 6,341 |  |  |  | 6,967 |
EBITDA |  |  | 524,336 |  |  |  | 410,105 |  |  |  | 1,319,953 |  |  |  | 1,132,633 |
Adjustments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
One-time gain associated with remeasuring an investment in an unconsolidated subsidiary to fair value as of the date the remaining controlling interest was acquired |  |  | (92,624 | ) |  |  | — |  |  |  | (92,624 | ) |  |  | — |
Reorganization costs (2) |  |  | 12,768 |  |  |  | — |  |  |  | 12,768 |  |  |  | — |
Costs incurred in connection with litigation settlement |  |  | 8,868 |  |  |  | — |  |  |  | 8,868 |  |  |  | — |
Integration and other costs related to acquisitions |  |  | 6,100 |  |  |  | — |  |  |  | 6,100 |  |  |  | 27,351 |
Carried interest incentive compensation expense (reversal) to align with the timing of associated revenue |  |  | 3,960 |  |  |  | 5,134 |  |  |  | (4,543 | ) |  |  | (12,882 | )
Adjusted EBITDA |  | $ | 463,408 |  |  | $ | 415,239 |  |  | $ | 1,250,522 |  |  | $ | 1,147,102 |
(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.
(2) | Represents severance costs related to headcount reductions in connection with our planned reorganization announced in the third quarter of 2018 that will become effective January 1, 2019.
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 |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |
|  |  |  |  |  | (As Adjusted) (1) |  |  |  |  |  |  | (As Adjusted) (1) |
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 3,063,616 |  |  | $ | 2,699,197 |  |  | $ | 8,646,018 |  |  | $ | 7,816,048 |
United Kingdom |  |  | 638,018 |  |  |  | 561,356 |  |  |  | 1,852,799 |  |  |  | 1,552,499 |
All other countries |  |  | 1,559,320 |  |  |  | 1,378,043 |  |  |  | 4,547,523 |  |  |  | 3,760,586 |
Total revenue |  | $ | 5,260,954 |  |  | $ | 4,638,596 |  |  | $ | 15,046,340 |  |  | $ | 13,129,133 |
(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.

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