Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2019

Revenue From Contract With Customer [Abstract]

13.	Revenue from Contracts with Customers

Disaggregated Revenue

The following tables represent a disaggregation of revenue from contracts with customers for the three and nine months ended September 30, 2019 and 2018 by type of service and/or segment (dollars in thousands):

	Three Months Ended September 30, 2019
	Advisory Services		Global Workplace Solutions		Real Estate Investments		Consolidated
Topic 606 Revenue:
Global workplace solutions	$	—	$	3,555,176	$	—	$	3,555,176
Advisory leasing		781,246		—		—		781,246
Advisory sales		526,104		—		—		526,104
Property and advisory project management		558,039		—		—		558,039
Valuation		154,861		—		—		154,861
Commercial mortgage origination (1)		46,787		—		—		46,787
Loan servicing (2)		8,599		—		—		8,599
Investment management		—		—		104,927		104,927
Development services		—		—		24,286		24,286
Topic 606 Revenue		2,075,636		3,555,176		129,213		5,760,025
Out of Scope of Topic 606 Revenue:
Commercial mortgage origination		117,052		—		—		117,052
Loan servicing (2)		48,024		—		—		48,024
Total Out of Scope of Topic 606 Revenue		165,076		—		—		165,076
Total revenue	$	2,240,712	$	3,555,176	$	129,213	$	5,925,101

	Three Months Ended September 30, 2018 (3)
	Advisory Services		Global Workplace Solutions		Real Estate Investments		Consolidated
Topic 606 Revenue:
Global workplace solutions	$	—	$	3,082,781	$	—	$	3,082,781
Advisory leasing		751,793		—		—		751,793
Advisory sales		486,398		—		—		486,398
Property and advisory project management		498,388		—		—		498,388
Valuation		143,814		—		—		143,814
Commercial mortgage origination (1)		30,939		—		—		30,939
Loan servicing (2)		5,358		—		—		5,358
Investment management		—		—		93,061		93,061
Development services		—		—		25,753		25,753
Topic 606 Revenue		1,916,690		3,082,781		118,814		5,118,285
Out of Scope of Topic 606 Revenue:
Commercial mortgage origination		101,561		—		—		101,561
Loan servicing (2)		41,108		—		—		41,108
Total Out of Scope of Topic 606 Revenue		142,669		—		—		142,669
Total revenue	$	2,059,359	$	3,082,781	$	118,814	$	5,260,954

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

(2)	Loan servicing fees earned from servicing contracts for which we do not hold mortgage servicing rights are in scope of Topic 606.

(3)	Our new organizational structure became effective on January 1, 2019. See Note 14 for additional information. Revenue classifications for 2018 have been restated to conform to the new structure.

	Nine Months Ended September 30, 2019
	Advisory Services		Global Workplace Solutions		Real Estate Investments		Consolidated
Topic 606 Revenue:
Global workplace solutions	$	—	$	10,106,543	$	—	$	10,106,543
Advisory leasing		2,221,674		—		—		2,221,674
Advisory sales		1,378,317		—		—		1,378,317
Property and advisory project management		1,634,745		—		—		1,634,745
Valuation		442,238		—		—		442,238
Commercial mortgage origination (1)		102,471		—		—		102,471
Loan servicing (2)		22,669		—		—		22,669
Investment management		—		—		312,881		312,881
Development services		—		—		101,188		101,188
Topic 606 Revenue		5,802,114		10,106,543		414,069		16,322,726
Out of Scope of Topic 606 Revenue:
Commercial mortgage origination		322,246		—		—		322,246
Loan servicing (2)		129,712		—		—		129,712
Total Out of Scope of Topic 606 Revenue		451,958		—		—		451,958
Total revenue	$	6,254,072	$	10,106,543	$	414,069	$	16,774,684

	Nine Months Ended September 30, 2018 (3)
	Advisory Services		Global Workplace Solutions		Real Estate Investments		Consolidated
Topic 606 Revenue:
Global workplace solutions	$	—	$	8,945,257	$	—	$	8,945,257
Advisory leasing		1,956,688		—		—		1,956,688
Advisory sales		1,357,506		—		—		1,357,506
Property and advisory project management		1,485,371		—		—		1,485,371
Valuation		425,374		—		—		425,374
Commercial mortgage origination (1)		83,077		—		—		83,077
Loan servicing (2)		16,291		—		—		16,291
Investment management		—		—		315,698		315,698
Development services		—		—		67,486		67,486
Topic 606 Revenue		5,324,307		8,945,257		383,184		14,652,748
Out of Scope of Topic 606 Revenue:
Commercial mortgage origination		277,695		—		—		277,695
Loan servicing (2)		115,897		—		—		115,897
Total Out of Scope of Topic 606 Revenue		393,592		—		—		393,592
Total revenue	$	5,717,899	$	8,945,257	$	383,184	$	15,046,340

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

(2)	Loan servicing fees earned from servicing contracts for which we do not hold mortgage servicing rights are in scope of Topic 606.

(3)	Our new organizational structure became effective on January 1, 2019. See Note 14 for additional information. Revenue classifications for 2018 have been restated to conform to the new structure.

Contract Assets and Liabilities

We had contract assets totaling $510.4 million ($348.6 million of which was current) and $381.8 million ($307.0 million of which was current) as of September 30, 2019 and December 31, 2018, respectively.

We had contract liabilities totaling $115.7 million ($110.9 million of which was current) and $92.5 million ($82.2 million of which was current) as of September 30, 2019 and December 31, 2018, respectively. During the nine months ended September 30, 2019, we recognized revenue of $74.3 million that was included in the contract liability balance at December 31, 2018.