New Accounting Pronouncements (Tables)

9 Months Ended

Sep. 30, 2018

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 nine months ended September 30, 2017 (dollars in thousands, except share amounts):

	Three Months Ended September 30, 2017
	As Reported		Adoption of New Revenue Recognition Guidance		As Adjusted
Revenue	$	3,549,977	$	1,088,619	$	4,638,596
Cost of services		2,513,377		1,084,902		3,598,279
Operating, administrative and other		704,898		52		704,950
Operating income		235,291		3,665		238,956
Income before provision for income taxes		273,539		3,665		277,204
Provision for income taxes		76,178		894		77,072
Net income		197,361		2,771		200,132
Net income attributable to CBRE Group, Inc.		196,317		2,771		199,088
Earnings per share:
Basic income per share	$	0.58	$	0.01	$	0.59
Diluted income per share		0.58		—		0.58

	Nine Months Ended September 30, 2017
	As Reported		Adoption of New Revenue Recognition Guidance		As Adjusted
Revenue	$	9,873,396	$	3,255,737	$	13,129,133
Cost of services		6,919,018		3,235,278		10,154,296
Operating, administrative and other		2,023,503		688		2,024,191
Operating income		652,724		19,771		672,495
Income before provision for income taxes		723,073		19,771		742,844
Provision for income taxes		195,813		4,965		200,778
Net income		527,260		14,806		542,066
Net income attributable to CBRE Group, Inc.		523,079		14,806		537,885
Earnings per share:
Basic income per share	$	1.55	$	0.04	$	1.59
Diluted income per share		1.54		0.04		1.58