New Accounting Pronouncements (Tables)

12 Months Ended

Dec. 31, 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
Accrued bonus and profit sharing		1,072,976			5,369			1,078,345
Compensation and employee benefits payable		803,504			100,930			904,434
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 years ended December 31, 2017 and 2016 (dollars in thousands, except share amounts):

	Year Ended December 31, 2017
	As Reported		Adoption of New Revenue Recognition Guidance		As Adjusted
Revenue	$	14,209,608	$	4,419,179	$	18,628,787
Cost of services		9,893,226		4,411,873		14,305,099
Operating, administrative and other		2,858,654		66		2,858,720
Operating income		1,071,442		7,240		1,078,682
Income before provision for income taxes		1,164,093		7,240		1,171,333
Provision for income taxes		466,147		1,610		467,757
Net income		697,946		5,630		703,576
Net income attributable to CBRE Group, Inc.		691,479		5,630		697,109
Earnings per share:
Basic income per share	$	2.05	$	0.01	$	2.06
Diluted income per share		2.03		0.02		2.05

	Year Ended December 31, 2016
	As Reported		Adoption of New Revenue Recognition Guidance			As Adjusted
Revenue	$	13,071,589	$	4,297,519		$	17,369,108
Cost of services		9,123,727		4,297,184			13,420,911
Operating, administrative and other		2,781,310		(1,009	)		2,780,301
Operating income		815,487		1,344			816,831
Income before provision for income taxes		880,726		1,344			882,070
Provision for income taxes		296,662		238			296,900
Net income		584,064		1,106			585,170
Net income attributable to CBRE Group, Inc.		571,973		1,106			573,079
Earnings per share:
Basic income per share	$	1.71	$	—		$	1.71
Diluted income per share		1.69		—			1.69