Revenue from Contracts with Customers

6 Months Ended

Jun. 30, 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 and six months ended June 30, 2020 and 2019 by type of service and/or segment (dollars in thousands):

	Three Months Ended June 30, 2020
	Advisory Services		Global Workplace Solutions		Real Estate Investments		Consolidated
Topic 606 Revenue:
Global workplace solutions	$	—	$	3,666,844	$	—	$	3,666,844
Advisory leasing		510,124		—		—		510,124
Advisory sales		241,247		—		—		241,247
Property and advisory project management		512,218		—		—		512,218
Valuation		131,845		—		—		131,845
Commercial mortgage origination (1)		20,110		—		—		20,110
Loan servicing (2)		9,021		—		—		9,021
Investment management		—		—		103,132		103,132
Development services		—		—		57,700		57,700
Topic 606 Revenue		1,424,565		3,666,844		160,832		5,252,241
Out of Scope of Topic 606 Revenue:
Commercial mortgage origination		80,335		—		—		80,335
Loan servicing		48,029		—		—		48,029
Development services (3)		—		—		779		779
Total Out of Scope of Topic 606 Revenue		128,364		—		779		129,143
Total revenue	$	1,552,929	$	3,666,844	$	161,611	$	5,381,384

	Three Months Ended June 30, 2019
	Advisory Services		Global Workplace Solutions		Real Estate Investments		Consolidated
Topic 606 Revenue:
Global workplace solutions	$	—	$	3,385,452	$	—	$	3,385,452
Advisory leasing		817,788		—		—		817,788
Advisory sales		466,558		—		—		466,558
Property and advisory project management		555,822		—		—		555,822
Valuation		149,051		—		—		149,051
Commercial mortgage origination (1)		32,111		—		—		32,111
Loan servicing (2)		7,084		—		—		7,084
Investment management		—		—		101,646		101,646
Development services		—		—		48,017		48,017
Topic 606 Revenue		2,028,414		3,385,452		149,663		5,563,529
Out of Scope of Topic 606 Revenue:
Commercial mortgage origination		107,888		—		—		107,888
Loan servicing		42,656		—		—		42,656
Total Out of Scope of Topic 606 Revenue		150,544		—		—		150,544
Total revenue	$	2,178,958	$	3,385,452	$	149,663	$	5,714,073

(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.

	Six Months Ended June 30, 2020
	Advisory Services		Global Workplace Solutions		Real Estate Investments		Consolidated
Topic 606 Revenue:
Global workplace solutions	$	—	$	7,413,018	$	—	$	7,413,018
Advisory leasing		1,117,235		—		—		1,117,235
Advisory sales		672,203		—		—		672,203
Property and advisory project management		1,078,161		—		—		1,078,161
Valuation		279,597		—		—		279,597
Commercial mortgage origination (1)		57,990		—		—		57,990
Loan servicing (2)		20,430		—		—		20,430
Investment management		—		—		224,810		224,810
Development services		—		—		133,925		133,925
Topic 606 Revenue		3,225,616		7,413,018		358,735		10,997,369
Out of Scope of Topic 606 Revenue:
Commercial mortgage origination		165,537		—		—		165,537
Loan servicing		93,300		—		—		93,300
Development services (3)		—		—		14,346		14,346
Total Out of Scope of Topic 606 Revenue		258,837		—		14,346		273,183
Total revenue	$	3,484,453	$	7,413,018	$	373,081	$	11,270,552

	Six Months Ended June 30, 2019
	Advisory Services		Global Workplace Solutions		Real Estate Investments		Consolidated
Topic 606 Revenue:
Global workplace solutions	$	—	$	6,551,367	$	—	$	6,551,367
Advisory leasing		1,440,428		—		—		1,440,428
Advisory sales		852,213		—		—		852,213
Property and advisory project management		1,076,706		—		—		1,076,706
Valuation		287,377		—		—		287,377
Commercial mortgage origination (1)		55,684		—		—		55,684
Loan servicing (2)		14,070		—		—		14,070
Investment management		—		—		207,954		207,954
Development services		—		—		76,902		76,902
Topic 606 Revenue		3,726,478		6,551,367		284,856		10,562,701
Out of Scope of Topic 606 Revenue:
Commercial mortgage origination		205,194		—		—		205,194
Loan servicing		81,688		—		—		81,688
Total Out of Scope of Topic 606 Revenue		286,882		—		—		286,882
Total revenue	$	4,013,360	$	6,551,367	$	284,856	$	10,849,583

(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 $478.5 million ($288.9 million of which was current) and $529.8 million ($328.0 million of which was current) as of June 30, 2020 and December 31, 2019, respectively.

We had contract liabilities totaling $134.8 million ($128.4 million of which was current) and $115.0 million ($108.7 million of which was current) as of June 30, 2020 and December 31, 2019, respectively. During the six months ended June 30, 2020, we recognized revenue of $74.8 million that was included in the contract liability balance at December 31, 2019.