Revenue from Contracts with Customers

3 Months Ended

Mar. 31, 2020

Revenue From Contract With Customer [Abstract]

13.	Revenue from Contracts with Customers

We account for revenue with customers in accordance with FASB ASC Topic, “Revenue from Contracts with Customers” (Topic 606). Revenue is recognized when or as control of the promised services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those services.

Disaggregated Revenue

The following tables represent a disaggregation of revenue from contracts with customers for the three months ended March 31, 2020 and 2019 by type of service and/or segment (dollars in thousands):

	Three Months Ended March 31, 2020
	Advisory Services		Global Workplace Solutions		Real Estate Investments		Consolidated
Topic 606 Revenue:
Global workplace solutions	$	—	$	3,746,174	$	—	$	3,746,174
Advisory leasing		607,111		—		—		607,111
Advisory sales		430,956		—		—		430,956
Property and advisory project management		565,943		—		—		565,943
Valuation		147,752		—		—		147,752
Commercial mortgage origination (1)		37,880		—		—		37,880
Loan servicing (2)		11,409		—		—		11,409
Investment management		—		—		121,678		121,678
Development services		—		—		76,226		76,226
Topic 606 Revenue		1,801,051		3,746,174		197,904		5,745,129
Out of Scope of Topic 606 Revenue:
Commercial mortgage origination		85,202		—		—		85,202
Loan servicing		45,271		—		—		45,271
Development services (3)		—		—		13,566		13,566
Total Out of Scope of Topic 606 Revenue		130,473		—		13,566		144,039
Total revenue	$	1,931,524	$	3,746,174	$	211,470	$	5,889,168

	Three Months Ended March 31, 2019
	Advisory Services		Global Workplace Solutions		Real Estate Investments		Consolidated
Topic 606 Revenue:
Global workplace solutions	$	—	$	3,165,915	$	—	$	3,165,915
Advisory leasing		622,640		—		—		622,640
Advisory sales		385,655		—		—		385,655
Property and advisory project management		520,884		—		—		520,884
Valuation		138,326		—		—		138,326
Commercial mortgage origination (1)		23,573		—		—		23,573
Loan servicing (2)		6,986		—		—		6,986
Investment management		—		—		106,308		106,308
Development services		—		—		28,885		28,885
Topic 606 Revenue		1,698,064		3,165,915		135,193		4,999,172
Out of Scope of Topic 606 Revenue:
Commercial mortgage origination		97,306		—		—		97,306
Loan servicing		39,032		—		—		39,032
Total Out of Scope of Topic 606 Revenue		136,338		—		—		136,338
Total revenue	$	1,834,402	$	3,165,915	$	135,193	$	5,135,510

(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)	Out of scope revenue for development services represents selling profit from transfers of sales-type leases in the scope of Topic 842.

Contract Assets and Liabilities

We had contract assets totaling $530.7 million ($330.0 million of which was current) and $529.8 million ($328.0 million of which was current) as of March 31, 2020 and December 31, 2019, respectively.

We had contract liabilities totaling $113.7 million ($107.0 million of which was current) and $115.0 million ($108.7 million of which was current) as of March 31, 2020 and December 31, 2019, respectively. During the three months ended March 31, 2020, we recognized revenue of $63.2 million that was included in the contract liability balance at December 31, 2019.