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Revenue from Contracts with Customers (Tables)
9 Months Ended
Sep. 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 nine months ended September 30, 2018 and 2017 by type of service and/or region (dollars in thousands):

 

 

 

Three Months Ended September 30, 2018

 

 

 

Americas

 

 

EMEA

 

 

APAC

 

 

Global

Investment

Management

 

 

Development

Services

 

 

Consolidated

 

Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Occupier outsourcing

 

$

1,964,677

 

 

$

993,268

 

 

$

256,835

 

 

$

 

 

$

 

 

$

3,214,780

 

Leasing

 

 

598,384

 

 

 

123,339

 

 

 

99,416

 

 

 

 

 

 

1,902

 

 

 

823,041

 

Sales

 

 

294,884

 

 

 

103,664

 

 

 

73,997

 

 

 

 

 

 

95

 

 

 

472,640

 

Property management

 

 

171,824

 

 

 

59,459

 

 

 

69,469

 

 

 

 

 

 

2,718

 

 

 

303,470

 

Valuation

 

 

64,585

 

 

 

43,210

 

 

 

26,744

 

 

 

 

 

 

 

 

 

134,539

 

Commercial mortgage origination (1)

 

 

28,294

 

 

 

516

 

 

 

829

 

 

 

 

 

 

 

 

 

29,639

 

Investment management

 

 

 

 

 

 

 

 

 

 

 

93,061

 

 

 

 

 

 

93,061

 

Development services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

21,038

 

 

 

21,038

 

Topic 606 Revenue

 

 

3,122,648

 

 

 

1,323,456

 

 

 

527,290

 

 

 

93,061

 

 

 

25,753

 

 

 

5,092,208

 

Out of Scope of Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial mortgage origination

 

 

102,148

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

102,148

 

Loan servicing

 

 

43,893

 

 

 

2,387

 

 

 

186

 

 

 

 

 

 

 

 

 

46,466

 

Other revenue

 

 

12,033

 

 

 

5,593

 

 

 

2,506

 

 

 

 

 

 

 

 

 

20,132

 

Total Out of Scope of Topic 606 Revenue

 

 

158,074

 

 

 

7,980

 

 

 

2,692

 

 

 

 

 

 

 

 

 

168,746

 

Total revenue

 

$

3,280,722

 

 

$

1,331,436

 

 

$

529,982

 

 

$

93,061

 

 

$

25,753

 

 

$

5,260,954

 

 

 

 

 

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

 

 

 

Americas

 

 

EMEA

 

 

APAC

 

 

Global

Investment

Management

 

 

Development

Services

 

 

Consolidated

 

Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Occupier outsourcing

 

$

1,764,103

 

 

$

787,466

 

 

$

240,667

 

 

$

 

 

$

 

 

$

2,792,236

 

Leasing

 

 

506,366

 

 

 

105,368

 

 

 

88,506

 

 

 

 

 

 

559

 

 

 

700,799

 

Sales

 

 

290,168

 

 

 

83,937

 

 

 

80,966

 

 

 

 

 

 

270

 

 

 

455,341

 

Property management

 

 

162,670

 

 

 

62,606

 

 

 

60,907

 

 

 

 

 

 

2,337

 

 

 

288,520

 

Valuation

 

 

59,009

 

 

 

39,462

 

 

 

28,515

 

 

 

 

 

 

 

 

 

126,986

 

Commercial mortgage origination (1)

 

 

23,498

 

 

 

778

 

 

 

535

 

 

 

 

 

 

 

 

 

24,811

 

Investment management

 

 

 

 

 

 

 

 

 

 

 

92,122

 

 

 

 

 

 

92,122

 

Development services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

12,945

 

 

 

12,945

 

Topic 606 Revenue

 

 

2,805,814

 

 

 

1,079,617

 

 

 

500,096

 

 

 

92,122

 

 

 

16,111

 

 

 

4,493,760

 

Out of Scope of Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial mortgage origination

 

 

83,607

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

83,607

 

Loan servicing

 

 

36,021

 

 

 

2,315

 

 

 

 

 

 

 

 

 

 

 

 

38,336

 

Other revenue

 

 

14,190

 

 

 

6,767

 

 

 

1,936

 

 

 

 

 

 

 

 

 

22,893

 

Total Out of Scope of Topic 606 Revenue

 

 

133,818

 

 

 

9,082

 

 

 

1,936

 

 

 

 

 

 

 

 

 

144,836

 

Total revenue

 

$

2,939,632

 

 

$

1,088,699

 

 

$

502,032

 

 

$

92,122

 

 

$

16,111

 

 

$

4,638,596

 

 

 

(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.

 

 

 

Nine Months Ended September 30, 2018

 

 

 

Americas

 

 

EMEA

 

 

APAC

 

 

Global

Investment

Management

 

 

Development

Services

 

 

Consolidated

 

Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Occupier outsourcing

 

$

5,682,409

 

 

$

2,882,350

 

 

$

787,667

 

 

$

 

 

$

 

 

$

9,352,426

 

Leasing

 

 

1,535,242

 

 

 

330,223

 

 

 

271,181

 

 

 

 

 

 

2,861

 

 

 

2,139,507

 

Sales

 

 

832,195

 

 

 

279,985

 

 

 

202,115

 

 

 

 

 

 

513

 

 

 

1,314,808

 

Property management

 

 

517,995

 

 

 

178,376

 

 

 

208,965

 

 

 

 

 

 

6,379

 

 

 

911,715

 

Valuation

 

 

187,997

 

 

 

127,529

 

 

 

83,598

 

 

 

 

 

 

 

 

 

399,124

 

Commercial mortgage origination (1)

 

 

77,211

 

 

 

2,953

 

 

 

1,223

 

 

 

 

 

 

 

 

 

81,387

 

Investment management

 

 

 

 

 

 

 

 

 

 

 

315,698

 

 

 

 

 

 

315,698

 

Development services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

57,733

 

 

 

57,733

 

Topic 606 Revenue

 

 

8,833,049

 

 

 

3,801,416

 

 

 

1,554,749

 

 

 

315,698

 

 

 

67,486

 

 

 

14,572,398

 

Out of Scope of Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial mortgage origination

 

 

277,508

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

277,508

 

Loan servicing

 

 

124,746

 

 

 

7,035

 

 

 

407

 

 

 

 

 

 

 

 

 

132,188

 

Other revenue

 

 

36,070

 

 

 

19,691

 

 

 

8,485

 

 

 

 

 

 

 

 

 

64,246

 

Total Out of Scope of Topic 606 Revenue

 

 

438,324

 

 

 

26,726

 

 

 

8,892

 

 

 

 

 

 

 

 

 

473,942

 

Total revenue

 

$

9,271,373

 

 

$

3,828,142

 

 

$

1,563,641

 

 

$

315,698

 

 

$

67,486

 

 

$

15,046,340

 

 

 

 

 

Nine Months Ended September 30, 2017 (As Adjusted) (2)

 

 

 

Americas

 

 

EMEA

 

 

APAC

 

 

Global

Investment

Management

 

 

Development

Services

 

 

Consolidated

 

Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Occupier outsourcing

 

$

5,170,579

 

 

$

2,181,050

 

 

$

683,366

 

 

$

 

 

$

 

 

$

8,034,995

 

Leasing

 

 

1,350,439

 

 

 

268,375

 

 

 

230,640

 

 

 

 

 

 

739

 

 

 

1,850,193

 

Sales

 

 

785,674

 

 

 

245,292

 

 

 

211,437

 

 

 

 

 

 

965

 

 

 

1,243,368

 

Property management

 

 

485,183

 

 

 

176,595

 

 

 

172,146

 

 

 

 

 

 

7,345

 

 

 

841,269

 

Valuation

 

 

177,789

 

 

 

109,200

 

 

 

86,220

 

 

 

 

 

 

 

 

 

373,209

 

Commercial mortgage origination (1)

 

 

73,199

 

 

 

4,583

 

 

 

1,989

 

 

 

 

 

 

 

 

 

79,771

 

Investment management

 

 

 

 

 

 

 

 

 

 

 

274,451

 

 

 

 

 

 

274,451

 

Development services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

38,245

 

 

 

38,245

 

Topic 606 Revenue

 

 

8,042,863

 

 

 

2,985,095

 

 

 

1,385,798

 

 

 

274,451

 

 

 

47,294

 

 

 

12,735,501

 

Out of Scope of Topic 606 Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial mortgage origination

 

 

217,881

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

217,881

 

Loan servicing

 

 

106,745

 

 

 

7,873

 

 

 

 

 

 

 

 

 

 

 

 

114,618

 

Other revenue

 

 

38,272

 

 

 

16,382

 

 

 

6,479

 

 

 

 

 

 

 

 

 

61,133

 

Total Out of Scope of Topic 606 Revenue

 

 

362,898

 

 

 

24,255

 

 

 

6,479

 

 

 

 

 

 

 

 

 

393,632

 

Total revenue

 

$

8,405,761

 

 

$

3,009,350

 

 

$

1,392,277

 

 

$

274,451

 

 

$

47,294

 

 

$

13,129,133

 

 

(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.