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Segments (Tables)

9 Months Ended

Sep. 30, 2019

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,
			2019			2018 (1)					2019			2018 (1)
Revenue
Advisory Services		$	2,240,712			$	2,059,359			$	6,254,072			$	5,717,899
Global Workplace Solutions			3,555,176				3,082,781				10,106,543				8,945,257
Real Estate Investments			129,213				118,814				414,069				383,184
Total revenue		$	5,925,101			$	5,260,954			$	16,774,684			$	15,046,340
Adjusted EBITDA
Advisory Services		$	345,482			$	295,902			$	942,860			$	801,646
Global Workplace Solutions			95,209				82,810				298,948				244,626
Real Estate Investments			13,939				84,696				131,346				204,250
Total Adjusted EBITDA		$	454,630			$	463,408			$	1,373,154			$	1,250,522

(1) Results for 2018 have been presented in conformity with the new structure.

Adjusted EBITDA Calculation by Segment

Adjusted EBITDA is calculated as follows (dollars in thousands):

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
			2019				2018				2019				2018
Net income attributable to CBRE Group, Inc.		$	256,599			$	290,469			$	644,739			$	669,424
Add:
Depreciation and amortization			111,560				113,484				323,862				335,048
Intangible asset impairment			—				—				89,037				—
Interest expense, net of interest income			21,846				25,420				67,638				76,053
Write-off of financing costs on extinguished debt			—				—				2,608				27,982
Provision for income taxes			63,468				94,963				169,867				211,446
EBITDA			453,473				524,336				1,297,751				1,319,953
Adjustments:
Integration and other costs related to acquisitions			4,517				6,100				13,554				6,100
Carried interest incentive compensation (reversal) expense    to align with the timing of associated revenue			(3,360	)			3,960				12,284				(4,543	)
Costs associated with our reorganization, including    cost-savings initiatives (1)			—				12,768				49,565				12,768
Costs incurred in connection with litigation settlement			—				8,868				—				8,868
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	)
Adjusted EBITDA		$	454,630			$	463,408			$	1,373,154			$	1,250,522

(1) Primarily represents severance costs related to headcount reductions in connection with our reorganization announced in the third quarter of 2018 that became 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,
			2019				2018				2019				2018
Revenue
United States		$	3,442,570			$	3,063,616			$	9,851,477			$	8,646,018
United Kingdom			758,084				638,018				2,003,671				1,852,799
All other countries			1,724,447				1,559,320				4,919,536				4,547,523
Total revenue		$	5,925,101			$	5,260,954			$	16,774,684			$	15,046,340

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- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

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