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Revenue from Contracts with Customers | 12 Months Ended
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Dec. 31, 2019
Revenue From Contract With Customer [Abstract] |
Revenue from Contracts with Customers |
1 8. | Revenue from Contracts with Customers
Disaggregated Revenue The following tables represent a disaggregation of revenue from contracts with customers for the years ended December 31, 2019, 2018 and 2017 by type of service and/or segment (dollars in thousands):
|  | Year Ended December 31, 2019 |
|  | Advisory Services |  |  | Global Workplace Solutions |  |  | Real Estate Investments |  |  | Consolidated |
Topic 606 Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Global workplace solutions |  | $ | — |  |  | $ | 14,164,001 |  |  | $ | — |  |  | $ | 14,164,001 |
Advisory leasing |  |  | 3,269,993 |  |  |  | — |  |  |  | — |  |  |  | 3,269,993 |
Advisory sales |  |  | 2,130,979 |  |  |  | — |  |  |  | — |  |  |  | 2,130,979 |
Property and advisory project management |  |  | 2,255,398 |  |  |  |  |  |  |  |  |  |  |  | 2,255,398 |
Valuation |  |  | 630,399 |  |  |  | — |  |  |  | — |  |  |  | 630,399 |
Commercial mortgage origination (1) |  |  | 154,227 |  |  |  | — |  |  |  | — |  |  |  | 154,227 |
Loan servicing (2) |  |  | 30,943 |  |  |  | — |  |  |  | — |  |  |  | 30,943 |
Investment management |  |  | — |  |  |  | — |  |  |  | 424,882 |  |  |  | 424,882 |
Development services |  |  | — |  |  |  | — |  |  |  | 213,264 |  |  |  | 213,264 |
Topic 606 Revenue |  |  | 8,471,939 |  |  |  | 14,164,001 |  |  |  | 638,146 |  |  |  | 23,274,086 |
Out of Scope of Topic 606 Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial mortgage origination |  |  | 421,736 |  |  |  | — |  |  |  | — |  |  |  | 421,736 |
Loan servicing |  |  | 175,793 |  |  |  | — |  |  |  | — |  |  |  | 175,793 |
Development services (4) |  |  | — |  |  |  | — |  |  |  | 22,476 |  |  |  | 22,476 |
Total Out of Scope of Topic 606 Revenue |  |  | 597,529 |  |  |  | — |  |  |  | 22,476 |  |  |  | 620,005 |
Total revenue |  | $ | 9,069,468 |  |  | $ | 14,164,001 |  |  | $ | 660,622 |  |  | $ | 23,894,091 |
|  | Year Ended December 31, 2018 (3) |
|  | Advisory Services |  |  | Global Workplace Solutions |  |  | Real Estate Investments |  |  | Consolidated |
Topic 606 Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Global workplace solutions |  | $ | — |  |  | $ | 12,365,362 |  |  | $ | — |  |  | $ | 12,365,362 |
Advisory leasing |  |  | 3,080,117 |  |  |  | — |  |  |  | — |  |  |  | 3,080,117 |
Advisory sales |  |  | 1,980,932 |  |  |  |  |  |  |  |  |  |  |  | 1,980,932 |
Property and advisory project management |  |  | 2,057,433 |  |  |  | — |  |  |  | — |  |  |  | 2,057,433 |
Valuation |  |  | 598,806 |  |  |  | — |  |  |  | — |  |  |  | 598,806 |
Commercial mortgage origination (1) |  |  | 136,534 |  |  |  | — |  |  |  | — |  |  |  | 136,534 |
Loan servicing (2) |  |  | 24,192 |  |  |  | — |  |  |  | — |  |  |  | 24,192 |
Investment management |  |  | — |  |  |  | — |  |  |  | 434,405 |  |  |  | 434,405 |
Development services |  |  | — |  |  |  | — |  |  |  | 100,319 |  |  |  | 100,319 |
Topic 606 Revenue |  |  | 7,878,014 |  |  |  | 12,365,362 |  |  |  | 534,724 |  |  |  | 20,778,100 |
Out of Scope of Topic 606 Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial mortgage origination |  |  | 402,814 |  |  |  | — |  |  |  | — |  |  |  | 402,814 |
Loan servicing |  |  | 159,174 |  |  |  | — |  |  |  | — |  |  |  | 159,174 |
Total Out of Scope of Topic 606 Revenue |  |  | 561,988 |  |  |  | — |  |  |  | — |  |  |  | 561,988 |
Total revenue |  | $ | 8,440,002 |  |  | $ | 12,365,362 |  |  | $ | 534,724 |  |  | $ | 21,340,088 |
(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 January 1, 2019. See Note 19 for additional information. Revenue classifications for 2018 and 2017 have been restated to conform to the new structure.
(4) | Out of scope revenue for development services represents selling profit from transfers of sales-type leases in the scope of Topic 842.
|  | Year Ended December 31, 2017 (3) |
|  | Advisory Services |  |  | Global Workplace Solutions |  |  | Real Estate Investments |  |  | Consolidated |
Topic 606 Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Global workplace solutions |  | $ | — |  |  | $ | 10,791,963 |  |  | $ | — |  |  | $ | 10,791,963 |
Advisory leasing |  |  | 2,592,203 |  |  |  | — |  |  |  | — |  |  |  | 2,592,203 |
Advisory sales |  |  | 1,869,872 |  |  |  | — |  |  |  | — |  |  |  | 1,869,872 |
Property and advisory project management |  |  | 1,748,594 |  |  |  | — |  |  |  | — |  |  |  | 1,748,594 |
Valuation |  |  | 556,008 |  |  |  |  |  |  |  |  |  |  |  | 556,008 |
Commercial mortgage origination (1) |  |  | 117,009 |  |  |  | — |  |  |  | — |  |  |  | 117,009 |
Loan servicing (2) |  |  | 19,759 |  |  |  | — |  |  |  | — |  |  |  | 19,759 |
Investment management |  |  | — |  |  |  | — |  |  |  | 377,644 |  |  |  | 377,644 |
Development services |  |  | — |  |  |  | — |  |  |  | 79,455 |  |  |  | 79,455 |
Topic 606 Revenue |  |  | 6,903,445 |  |  |  | 10,791,963 |  |  |  | 457,099 |  |  |  | 18,152,507 |
Out of Scope of Topic 606 Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial mortgage origination |  |  | 338,590 |  |  |  | — |  |  |  | — |  |  |  | 338,590 |
Loan servicing |  |  | 137,690 |  |  |  | — |  |  |  | — |  |  |  | 137,690 |
Total Out of Scope of Topic 606 Revenue |  |  | 476,280 |  |  |  | — |  |  |  | — |  |  |  | 476,280 |
Total revenue |  | $ | 7,379,725 |  |  | $ | 10,791,963 |  |  | $ | 457,099 |  |  | $ | 18,628,787 |
(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 January 1, 2019. See Note 19 for additional information. Revenue classifications for 2018 and 2017 have been restated to conform to the new structure.
Contract Assets and Liabilities We had contract assets totaling $529.8 million ($328.0 million of which was current) and $381.8 million ($307.0 million of which was current) as of December 31, 2019 and 2018, respectively. During the year ended December 31, 2019, our contract assets increased by $148.0 million, primarily due to an increase in contract assets in our leasing business as well as due to contract assets acquired in the Telford Acquisition (see Note 4). We had contract liabilities totaling $115.0 million ($108.7 million of which was current) and $92.5 million ($82.2 million of which was current) as of December 31, 2019 and 2018, respectively. During the year ended December 31, 2019, we recognized revenue of $75.2 million that was included in the contract liability balance at December 31, 2018. Contract Costs Within our Global Workplace Solutions segment, we incur transition costs to fulfil contracts prior to services being rendered. We capitalized $69.3 million, $45.7 million and $31.9 million, respectively, of transition costs during the years ended December 31, 2019, 2018 and 2017. We recorded amortization of transition costs of $32.3 million, $23.4 million and $19.2 million, respectively, during the years ended December 31, 2019, 2018 and 2017.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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