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Guarantor and Nonguarantor Financial Statements (Tables)

12 Months Ended

Dec. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet

		As of December 31, 2019
		Parent				CBRE Services				Guarantor Subsidiaries				Nonguarantor Subsidiaries				Eliminations				Consolidated Total
ASSETS
Current Assets:
Cash and cash equivalents		$	7			$	13,453			$	254,992			$	703,329			$	—			$	971,781
Restricted cash			—				—				55,849				66,115				—				121,964
Receivables, net			—				16				1,627,598				2,839,060				—				4,466,674
Warehouse receivables (1)			—				—				303,559				689,499				—				993,058
Contract assets			—				—				286,225				41,787				—				328,012
Prepaid expenses			—				—				127,413				155,328				—				282,741
Income taxes receivable			—				—				91,398				2,517				—				93,915
Other current assets			—				—				70,554				205,765				—				276,319
Total Current Assets			7				13,469				2,817,588				4,703,400				—				7,534,464
Property and equipment, net			—				—				560,509				275,697				—				836,206
Goodwill			—				—				2,249,274				1,504,219				—				3,753,493
Other intangible assets, net			—				—				726,897				652,649				—				1,379,546
Operating lease assets			—				—				451,769				546,197				—				997,966
Investments in unconsolidated subsidiaries			—				—				273,532				153,179				—				426,711
Non-current contract assets			—				—				175,215				26,545				—				201,760
Real estate under development			—				—				—				185,508				—				185,508
Investments in consolidated subsidiaries			8,395,563				6,642,233				2,816,035				—				(17,853,831	)			—
Intercompany loan receivable			—				3,054,548				700,000				—				(3,754,548	)			—
Non-current income taxes receivable			—				—				113,194				25,942				—				139,136
Deferred tax assets, net			—				—				57,639				106,127				(89,902	)			73,864
Other assets, net			—				17,016				480,968				170,558				—				668,542
Total Assets		$	8,395,570			$	9,727,266			$	11,422,620			$	8,350,021			$	(21,698,281	)		$	16,197,196
LIABILITIES AND EQUITY
Current Liabilities:
Accounts payable and accrued expenses		$	—			$	17,790			$	947,817			$	1,470,477			$	—			$	2,436,084
Compensation and employee benefits payable			—				—				758,367				566,623				—				1,324,990
Accrued bonus and profit sharing			—				—				686,793				575,181				—				1,261,974
Operating lease liabilities			—				—				75,906				92,757				—				168,663
Contract liabilities			—				—				58,701				49,970				—				108,671
Income taxes payable			—				—				2,002				28,205				—				30,207
Short-term borrowings:
Warehouse lines of credit (which fund    loans that U.S. Government Sponsored    Enterprises have committed to purchase) (1)			—				—				300,260				676,915				—				977,175
Other			—				—				—				4,534				—				4,534
Total short-term borrowings			—				—				300,260				681,449				—				981,709
Current maturities of long-term debt			—				—				18				1,796				—				1,814
Other current liabilities			—				—				46,121				76,218				—				122,339
Total Current Liabilities			—				17,790				2,875,985				3,542,676				—				6,436,451
Long-Term Debt, net:
Long-term debt, net			—				1,313,913				—				447,332				—				1,761,245
Intercompany loan payable			2,162,877				—				1,017,046				574,625				(3,754,548	)			—
Total Long-Term Debt, net			2,162,877				1,313,913				1,017,046				1,021,957				(3,754,548	)			1,761,245
Non-current operating lease liabilities			—				—				520,155				537,603				—				1,057,758
Non-current income taxes payable			—				—				93,647				—				—				93,647
Non-current tax liabilities			—				—				40,066				45,900				—				85,966
Deferred tax liabilities, net			—				—				—				124,495				(89,902	)			34,593
Other liabilities			—				—				233,488				220,936				—				454,424
Total Liabilities			2,162,877				1,331,703				4,780,387				5,493,567				(3,844,450	)			9,924,084
Commitments and contingencies			—				—				—				—				—				—
Equity:
CBRE Group, Inc. Stockholders’ Equity			6,232,693				8,395,563				6,642,233				2,816,035				(17,853,831	)			6,232,693
Non-controlling interests			—				—				—				40,419				—				40,419
Total Equity			6,232,693				8,395,563				6,642,233				2,856,454				(17,853,831	)			6,273,112
Total Liabilities and Equity		$	8,395,570			$	9,727,266			$	11,422,620			$	8,350,021			$	(21,698,281	)		$	16,197,196

(1) Although CBRE Capital Markets is included among our domestic subsidiaries that jointly and severally guarantee our 4.875% senior notes, 5.25% senior notes and our 2019 Credit Agreement, a substantial majority of warehouse receivables funded under Fannie Mae ASAP, JP Morgan, BofA, TD Bank, Capital One and Union Bank lines of credit are pledged to Fannie Mae, JP Morgan, BofA, TD Bank, Capital One and Union Bank, and accordingly, are not included as collateral for these notes or our other outstanding debt.

Condensed Consolidating Balance Sheet

		As of December 31, 2018
		Parent				CBRE Services				Guarantor Subsidiaries				Nonguarantor Subsidiaries				Eliminations				Consolidated Total
ASSETS
Current Assets:
Cash and cash equivalents		$	7			$	34,063			$	261,181			$	481,968			$	—			$	777,219
Restricted cash			—				—				13,767				72,958				—				86,725
Receivables, net			—				5				1,340,120				2,328,466				—				3,668,591
Warehouse receivables (1)			—				—				664,095				678,373				—				1,342,468
Contract assets			—				—				289,214				17,806				—				307,020
Prepaid expenses			—				—				122,305				132,587				—				254,892
Income taxes receivable			6,099				—				18,992				52,692				(6,099	)			71,684
Other current assets			—				—				56,853				188,758				—				245,611
Total Current Assets			6,106				34,068				2,766,527				3,953,608				(6,099	)			6,754,210
Property and equipment, net			—				—				512,110				209,582				—				721,692
Goodwill			—				—				2,224,909				1,427,400				—				3,652,309
Other intangible assets, net			—				—				835,270				606,038				—				1,441,308
Investments in unconsolidated subsidiaries			—				—				170,698				45,476				—				216,174
Non-current contract assets			—				—				74,762				—				—				74,762
Real estate under development			—				—				4,586				—				—				4,586
Investments in consolidated subsidiaries			6,759,815				5,595,831				3,228,512				—				(15,584,158	)			—
Intercompany loan receivable			—				2,440,775				700,000				711,244				(3,852,019	)			—
Deferred tax assets, net			—				—				2,666				51,755				(2,718	)			51,703
Other assets, net			—				18,257				404,442				117,350				—				540,049
Total Assets		$	6,765,921			$	8,088,931			$	10,924,482			$	7,122,453			$	(19,444,994	)		$	13,456,793
LIABILITIES AND EQUITY
Current Liabilities:
Accounts payable and accrued expenses		$	40			$	17,450			$	655,582			$	1,246,755			$	—			$	1,919,827
Compensation and employee benefits payable			—				—				662,196				458,983				—				1,121,179
Accrued bonus and profit sharing			—				—				685,521				503,874				—				1,189,395
Contract liabilities			—				—				41,045				41,182				—				82,227
Income taxes payable			—				720				6,417				67,062				(6,099	)			68,100
Short-term borrowings:
Warehouse lines of credit (which fund    loans that U.S. Government Sponsored    Enterprises have committed to purchase) (1)			—				—				657,731				671,030				—				1,328,761
Total short-term borrowings			—				—				657,731				671,030				—				1,328,761
Current maturities of long-term debt			—				—				39				3,107				—				3,146
Other current liabilities			—				1,070				70,202				19,473				—				90,745
Total Current Liabilities			40				19,240				2,778,733				3,011,466				(6,099	)			5,803,380
Long-Term Debt, net:
Long-term debt, net			—				1,309,876				18				457,366				—				1,767,260
Intercompany loan payable			1,827,084				—				2,024,935				—				(3,852,019	)			—
Total Long-Term Debt, net			1,827,084				1,309,876				2,024,953				457,366				(3,852,019	)			1,767,260
Non-current tax liabilities			—				—				164,857				7,769				—				172,626
Deferred tax liabilities, net			—				—				—				110,143				(2,718	)			107,425
Other liabilities			—				—				360,108				236,092				—				596,200
Total Liabilities			1,827,124				1,329,116				5,328,651				3,822,836				(3,860,836	)			8,446,891
Commitments and contingencies			—				—				—				—				—				—
Equity:
CBRE Group, Inc. Stockholders’ Equity			4,938,797				6,759,815				5,595,831				3,228,512				(15,584,158	)			4,938,797
Non-controlling interests			—				—				—				71,105				—				71,105
Total Equity			4,938,797				6,759,815				5,595,831				3,299,617				(15,584,158	)			5,009,902
Total Liabilities and Equity		$	6,765,921			$	8,088,931			$	10,924,482			$	7,122,453			$	(19,444,994	)		$	13,456,793

(1) Although CBRE Capital Markets is included among our domestic subsidiaries that jointly and severally guarantee our 4.875% senior notes, 5.25% senior notes and our 2017 Credit Agreement, a substantial majority of warehouse receivables funded under BofA, Fannie Mae ASAP, JP Morgan, Capital One and TD Bank lines of credit are pledged to BofA, Fannie Mae, JP Morgan, Capital One and TD Bank, and accordingly, are not included as collateral for these notes or our other outstanding debt.

Condensed Consolidating Statement of Operations

Condensed Consolidating Statement of Operations

		For the Year Ended December 31, 2019
		Parent				CBRE Services				Guarantor Subsidiaries				Nonguarantor Subsidiaries				Eliminations				Consolidated Total
Revenue		$	—			$	—			$	13,550,005			$	10,344,086			$	—			$	23,894,091
Costs and expenses:
Cost of revenue			—				—				10,836,412				7,852,601				—				18,689,013
Operating, administrative and other			1,000				1,036				1,705,837				1,728,136				—				3,436,009
Depreciation and amortization			—				—				265,220				174,004				—				439,224
Intangible asset impairment			—				—				89,787				—				—				89,787
Total costs and expenses			1,000				1,036				12,897,256				9,754,741				—				22,654,033
Gain on disposition of real estate			—				—				19,432				385				—				19,817
Operating (loss) income			(1,000	)			(1,036	)			672,181				589,730				—				1,259,875
Equity income (loss) from unconsolidated subsidiaries			—				—				162,019				(1,094	)			—				160,925
Other income			—				—				7,842				21,065				—				28,907
Interest expense, net of interest income			—				(31,037	)			80,604				36,187				—				85,754
Write-off of financing costs on extinguished debt			—				2,608				—				—				—				2,608
Royalty and management service (income) expense			—				—				(92,728	)			92,728				—				—
Income from consolidated subsidiaries			1,283,103				1,262,674				284,038				—				(2,829,815	)			—
Income before (benefit of) provision for income taxes			1,282,103				1,290,067				1,138,204				480,786				(2,829,815	)			1,361,345
(Benefit of) provision for income taxes			(254	)			6,964				(124,470	)			187,655				—				69,895
Net income			1,282,357				1,283,103				1,262,674				293,131				(2,829,815	)			1,291,450
Less:  Net income attributable to non-controlling    interests			—				—				—				9,093				—				9,093
Net income attributable to CBRE Group, Inc.		$	1,282,357			$	1,283,103			$	1,262,674			$	284,038			$	(2,829,815	)		$	1,282,357

Condensed Consolidating Statement of Operations

		For the Year Ended December 31, 2018
		Parent				CBRE Services				Guarantor Subsidiaries				Nonguarantor Subsidiaries				Eliminations				Consolidated Total
Revenue		$	—			$	—			$	11,998,469			$	9,341,619			$	—			$	21,340,088
Costs and expenses:
Cost of revenue			—				—				9,513,947				6,935,265				—				16,449,212
Operating, administrative and other			24,523				1,156				1,715,150				1,624,944				—				3,365,773
Depreciation and amortization			—				—				271,378				180,610				—				451,988
Total costs and expenses			24,523				1,156				11,500,475				8,740,819				—				20,266,973
Gain on disposition of real estate			—				—				7,705				7,169				—				14,874
Operating (loss) income			(24,523	)			(1,156	)			505,699				607,969				—				1,087,989
Equity income from unconsolidated subsidiaries			—				—				323,080				1,584				—				324,664
Other income (loss)			—				1				103,657				(10,638	)			—				93,020
Interest expense, net of interest income			—				(32,031	)			329,083				(198,367	)			—				98,685
Write-off of financing costs on extinguished debt			—				27,982				—				—				—				27,982
Royalty and management service (income) expense			—				—				(61,626	)			61,626				—				—
Income from consolidated subsidiaries			1,081,643				1,079,469				578,320				—				(2,739,432	)			—
Income before (benefit of) provision for income taxes			1,057,120				1,082,363				1,243,299				735,656				(2,739,432	)			1,379,006
(Benefit of) provision for income taxes			(6,099	)			720				163,830				154,607				—				313,058
Net income			1,063,219				1,081,643				1,079,469				581,049				(2,739,432	)			1,065,948
Less:  Net income attributable to non-controlling    interests			—				—				—				2,729				—				2,729
Net income attributable to CBRE Group, Inc.		$	1,063,219			$	1,081,643			$	1,079,469			$	578,320			$	(2,739,432	)		$	1,063,219

Condensed Consolidating Statement of Operations

		For the Year Ended December 31, 2017
		Parent				CBRE Services				Guarantor Subsidiaries				Nonguarantor Subsidiaries				Eliminations				Consolidated Total
Revenue		$	—			$	—			$	10,702,005			$	7,926,782			$	—			$	18,628,787
Costs and expenses:
Cost of revenue			—				—				8,517,114				5,787,985				—				14,305,099
Operating, administrative and other			5,661				1,972				1,437,641				1,413,446				—				2,858,720
Depreciation and amortization			—				—				239,863				166,251				—				406,114
Total costs and expenses			5,661				1,972				10,194,618				7,367,682				—				17,569,933
Gain on disposition of real estate			—				—				6,037				13,791				—				19,828
Operating (loss) income			(5,661	)			(1,972	)			513,424				572,891				—				1,078,682
Equity income from unconsolidated subsidiaries			—				—				206,655				3,552				—				210,207
Other income			—				1				22				9,382				—				9,405
Interest expense, net of interest income			—				(10,648	)			110,494				27,115				—				126,961
Royalty and management service expense (income)			—				—				66,191				(66,191	)			—				—
Income from consolidated subsidiaries			700,608				695,245				464,046				—				(1,859,899	)			—
Income before (benefit of) provision for income taxes			694,947				703,922				1,007,462				624,901				(1,859,899	)			1,171,333
(Benefit of) provision for income taxes			(2,162	)			3,314				312,217				154,388				—				467,757
Net income			697,109				700,608				695,245				470,513				(1,859,899	)			703,576
Less:  Net income attributable to non-controlling    interests			—				—				—				6,467				—				6,467
Net income attributable to CBRE Group, Inc.		$	697,109			$	700,608			$	695,245			$	464,046			$	(1,859,899	)		$	697,109

Condensed Consolidating Statement of Comprehensive Income (Loss)

Condensed Consolidating Statement of Comprehensive Income

		For the Year Ended December 31, 2019
		Parent				CBRE Services				Guarantor Subsidiaries				Nonguarantor Subsidiaries				Eliminations				Consolidated Total
Net income		$	1,282,357			$	1,283,103			$	1,262,674			$	293,131			$	(2,829,815	)		$	1,291,450
Other comprehensive income:
Foreign currency translation loss			—				—				—				(14,092	)			—				(14,092	)
Amounts reclassified from accumulated other    comprehensive loss to interest expense, net			—				1,320				—				—				—				1,320
Unrealized holding gains on available for sale    debt securities, net			—				—				2,101				—				—				2,101
Pension liability adjustments, net			—				—				—				944				—				944
Legal entity restructuring, net			—				—				—				63,149				—				63,149
Other, net			—				(104	)			—				(14,842	)			—				(14,946	)
Total other comprehensive income			—				1,216				2,101				35,159				—				38,476
Comprehensive income			1,282,357				1,284,319				1,264,775				328,290				(2,829,815	)			1,329,926
Less: Comprehensive income attributable to    non-controlling interests			—				—				—				9,048				—				9,048
Comprehensive income attributable to CBRE Group,    Inc.		$	1,282,357			$	1,284,319			$	1,264,775			$	319,242			$	(2,829,815	)		$	1,320,878

Condensed Consolidating Statement of Comprehensive Income

		For the Year Ended December 31, 2018
		Parent				CBRE Services				Guarantor Subsidiaries				Nonguarantor Subsidiaries				Eliminations				Consolidated Total
Net income		$	1,063,219			$	1,081,643			$	1,079,469			$	581,049			$	(2,739,432	)		$	1,065,948
Other comprehensive income (loss):
Foreign currency translation loss			—				—				—				(161,384	)			—				(161,384	)
Adoption of Accounting Standards Update    2016-01, net			—				—				(3,964	)			—				—				(3,964	)
Amounts reclassified from accumulated other    comprehensive loss to interest expense, net			—				2,439				—				—				—				2,439
Unrealized gains on interest rate swaps, net			—				708				—				—				—				708
Unrealized holding losses on available for sale    debt securities, net			—				—				(971	)			—				—				(971	)
Pension liability adjustments, net			—				—				—				1,315				—				1,315
Other, net			—				—				7				(5,077	)			—				(5,070	)
Total other comprehensive income (loss)			—				3,147				(4,928	)			(165,146	)			—				(166,927	)
Comprehensive income			1,063,219				1,084,790				1,074,541				415,903				(2,739,432	)			899,021
Less: Comprehensive income attributable to    non-controlling interests			—				—				—				1,657				—				1,657
Comprehensive income attributable to CBRE Group,     Inc.		$	1,063,219			$	1,084,790			$	1,074,541			$	414,246			$	(2,739,432	)		$	897,364

Condensed Consolidating Statement of Comprehensive Income

		For the Year Ended December 31, 2017
		Parent				CBRE Services				Guarantor Subsidiaries				Nonguarantor Subsidiaries				Eliminations				Consolidated Total
Net income		$	697,109			$	700,608			$	695,245			$	470,513			$	(1,859,899	)		$	703,576
Other comprehensive (loss) income:
Foreign currency translation gain			—				—				—				218,001				—				218,001
Amounts reclassified from accumulated other    comprehensive loss to interest expense, net			—				4,964				—				—				—				4,964
Unrealized gains on interest rate swaps, net			—				585				—				—				—				585
Unrealized holding gains on available for sale    debt securities,  net			—				—				2,557				180				—				2,737
Pension liability adjustments, net			—				—				—				12,701				—				12,701
Other, net			(2	)			—				(21	)			387				—				364
Total other comprehensive (loss) income			(2	)			5,549				2,536				231,269				—				239,352
Comprehensive income			697,107				706,157				697,781				701,782				(1,859,899	)			942,928
Less: Comprehensive income attributable to    non-controlling interests			—				—				—				6,879				—				6,879
Comprehensive income attributable to CBRE Group,    Inc.		$	697,107			$	706,157			$	697,781			$	694,903			$	(1,859,899	)		$	936,049

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flow

		For the Year Ended December 31, 2019
		Parent				CBRE Services				Guarantor Subsidiaries				Nonguarantor Subsidiaries				Consolidated Total
CASH FLOWS PROVIDED BY OPERATING    ACTIVITIES:		$	133,051			$	28,603			$	906,398			$	155,328			$	1,223,380
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures			—				—				(190,143	)			(103,371	)			(293,514	)
Acquisition of businesses, including net assets acquired,    intangibles and goodwill, net of cash acquired			—				—				(13,788	)			(342,138	)			(355,926	)
Contributions to unconsolidated subsidiaries			—				—				(63,016	)			(42,931	)			(105,947	)
Distributions from unconsolidated subsidiaries			—				—				29,319				3,970				33,289
Purchase of equity securities			—				—				(12,017	)			—				(12,017	)
Proceeds from sale of equity securities			—				—				14,065				1,558				15,623
Purchase of available for sale debt securities			—				—				(8,853	)			—				(8,853	)
Proceeds from the sale of available for sale debt securities			—				—				4,671				—				4,671
Other investing activities, net			—				—				1,102				548				1,650
Net cash used in investing activities			—				—				(238,660	)			(482,364	)			(721,024	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from senior term loans			—				300,000				—				—				300,000
Repayment of senior term loans			—				(300,000	)			—				—				(300,000	)
Proceeds from revolving credit facility			—				3,609,000				—				—				3,609,000
Repayment of revolving credit facility			—				(3,609,000	)			—				—				(3,609,000	)
Repayment of debt assumed in the acquisition of Telford Homes			—				—				—				(110,687	)			(110,687	)
Repurchase of common stock			(145,137	)			—				—				—				(145,137	)
Acquisition of businesses (cash paid for acquisitions more than    three months after purchase date)			—				—				(30,268	)			(11,879	)			(42,147	)
Units repurchased for payment of taxes on equity awards			(18,426	)			—				—				—				(18,426	)
Non-controlling interest contributions			—				—				—				46,612				46,612
Non-controlling interest distributions			—				—				—				(3,957	)			(3,957	)
Decrease (increase) in intercompany receivables, net			30,512				(45,862	)			(601,577	)			616,927				—
Other financing activities, net			—				(3,351	)			—				5,144				1,793
Net cash (used in) provided by financing activities			(133,051	)			(49,213	)			(631,845	)			542,160				(271,949	)
Effect of currency exchange rate changes on cash and cash    equivalents and restricted cash			—				—				—				(606	)			(606	)
NET (DECREASE) INCREASE IN CASH AND CASH    EQUIVALENTS AND RESTRICTED CASH			—				(20,610	)			35,893				214,518				229,801
CASH AND CASH EQUIVALENTS AND RESTRICTED    CASH, AT BEGINNING OF PERIOD			7				34,063				274,948				554,926				863,944
CASH AND CASH EQUIVALENTS AND RESTRICTED    CASH, AT END OF PERIOD		$	7			$	13,453			$	310,841			$	769,444			$	1,093,745
SUPPLEMENTAL DISCLOSURES OF CASH FLOW    INFORMATION:
Cash paid during the period for:
Interest		$	—			$	69,667			$	—			$	16,999			$	86,666
Income taxes, net		$	—			$	—			$	188,329			$	176,736			$	365,065

Condensed Consolidating Statement of Cash Flows

		For the Year Ended December 31, 2018
		Parent				CBRE Services				Guarantor Subsidiaries				Nonguarantor Subsidiaries				Consolidated Total
CASH FLOWS PROVIDED BY OPERATING    ACTIVITIES:		$	105,850			$	21,834			$	429,540			$	574,025			$	1,131,249
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures			—				—				(140,670	)			(87,133	)			(227,803	)
Acquisition of businesses, including net assets acquired,    intangibles and goodwill, net of cash acquired			—				—				(305,315	)			(17,258	)			(322,573	)
Contributions to unconsolidated subsidiaries			—				—				(51,046	)			(11,756	)			(62,802	)
Distributions from unconsolidated subsidiaries			—				—				57,269				4,440				61,709
Purchase of equity securities			—				—				(21,402	)			—				(21,402	)
Proceeds from sale of equity securities			—				—				16,314				—				16,314
Purchase of available for sale debt securities			—				—				(23,360	)			—				(23,360	)
Proceeds from the sale of available for sale debt securities			—				—				5,792				—				5,792
Other investing activities, net			—				—				2,793				10,648				13,441
Net cash used in investing activities			—				—				(459,625	)			(101,059	)			(560,684	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from senior term loans			—				550,000				—				452,745				1,002,745
Repayment of senior term loans			—				(450,000	)			—				—				(450,000	)
Proceeds from revolving credit facility			—				3,258,000				—				—				3,258,000
Repayment of revolving credit facility			—				(3,258,000	)			—				—				(3,258,000	)
Repayment of 5.00% senior notes (including premium)			—				(820,000	)			—				—				(820,000	)
Repayment of debt assumed in acquisition of FacilitySource			—				—				(26,295	)			—				(26,295	)
Repurchase of common stock			(161,034	)			—				—				—				(161,034	)
Acquisition of businesses (cash paid for acquisitions more than    three months after purchase date)			—				—				(16,774	)			(1,886	)			(18,660	)
Units repurchased for payment of taxes on equity awards			(29,386	)			—				—				—				(29,386	)
Non-controlling interest contributions			—				—				—				25,355				25,355
Non-controlling interest distributions			—				—				—				(13,413	)			(13,413	)
Decrease (increase) in intercompany receivables, net			84,213				716,837				233,975				(1,035,025	)			—
Other financing activities, net			357				(212	)			(16	)			(16,041	)			(15,912	)
Net cash (used in) provided by financing activities			(105,850	)			(3,375	)			190,890				(588,265	)			(506,600	)
Effect of currency exchange rate changes on cash and cash    equivalents and restricted cash			—				—				—				(24,840	)			(24,840	)
NET INCREASE (DECREASE) IN CASH AND CASH    EQUIVALENTS AND RESTRICTED CASH			—				18,459				160,805				(140,139	)			39,125
CASH AND CASH EQUIVALENTS AND RESTRICTED    CASH, AT BEGINNING OF PERIOD			7				15,604				114,143				695,065				824,819
CASH AND CASH EQUIVALENTS AND RESTRICTED    CASH, AT END OF PERIOD		$	7			$	34,063			$	274,948			$	554,926			$	863,944
SUPPLEMENTAL DISCLOSURES OF CASH FLOW    INFORMATION:
Cash paid during the period for:
Interest		$	—			$	102,491			$	—			$	1,674			$	104,165
Income taxes, net		$	—			$	—			$	198,930			$	176,919			$	375,849

Condensed Consolidating Statement of Cash Flows

		For the Year Ended December 31, 2017
		Parent				CBRE Services				Guarantor Subsidiaries				Nonguarantor Subsidiaries				Consolidated Total
CASH FLOWS PROVIDED BY (USED IN) OPERATING    ACTIVITIES:		$	89,341			$	37,990			$	424,787			$	342,293			$	894,411
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures			—				—				(121,347	)			(56,695	)			(178,042	)
Acquisition of businesses, including net assets acquired,    intangibles and goodwill, net of cash acquired			—				—				(87,248	)			(31,179	)			(118,427	)
Contributions to unconsolidated subsidiaries			—				—				(63,119	)			(5,581	)			(68,700	)
Distributions from unconsolidated subsidiaries			—				—				52,896				10,768				63,664
Purchase of equity securities			—				—				(15,584	)			—				(15,584	)
Proceeds from sale of equity securities			—				—				15,587				—				15,587
Purchase of available for sale debt securities			—				—				(19,280	)			—				(19,280	)
Proceeds from the sale of available for sale debt securities			—				—				15,790				—				15,790
Other investing activities, net			—				—				1,968				424				2,392
Net cash used in investing activities			—				—				(220,337	)			(82,263	)			(302,600	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from senior term loans			—				200,000				—				—				200,000
Repayment of senior term loans			—				(751,876	)			—				—				(751,876	)
Proceeds from revolving credit facility			—				1,521,000				—				—				1,521,000
Repayment of revolving credit facility			—				(1,521,000	)			—				—				(1,521,000	)
Acquisition of businesses (cash paid for acquisitions more than    three months after purchase date)			—				—				(19,854	)			(4,152	)			(24,006	)
Units repurchased for payment of taxes on equity awards			(29,549	)			—				—				—				(29,549	)
Non-controlling interest contributions			—				—				—				5,301				5,301
Non-controlling interest distributions			—				—				—				(8,715	)			(8,715	)
(Increase) decrease in intercompany receivables, net			(60,271	)			520,579				(338,396	)			(121,912	)			—
Other financing activities, net			479				(7,978	)			(3,145	)			(8,253	)			(18,897	)
Net cash used in financing activities			(89,341	)			(39,275	)			(361,395	)			(137,731	)			(627,742	)
Effect of currency exchange rate changes on cash and cash    equivalents and restricted cash			—				—				—				29,338				29,338
NET (DECREASE) INCREASE IN CASH AND CASH    EQUIVALENTS AND RESTRICTED CASH			—				(1,285	)			(156,945	)			151,637				(6,593	)
CASH AND CASH EQUIVALENTS AND RESTRICTED    CASH, AT BEGINNING OF PERIOD			7				16,889				271,088				543,428				831,412
CASH AND CASH EQUIVALENTS AND RESTRICTED    CASH, AT END OF PERIOD		$	7			$	15,604			$	114,143			$	695,065			$	824,819
SUPPLEMENTAL DISCLOSURES OF CASH FLOW    INFORMATION:
Cash paid during the period for:
Interest		$	—			$	117,072			$	—			$	92			$	117,164
Income taxes, net		$	—			$	—			$	198,520			$	158,477			$	356,997

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Tabular disclosure of condensed statement of comprehensive income (loss) including, but not limited to, statements of comprehensive income (loss) of consolidated entities and consolidation eliminations.

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