XML 63 R41.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Changes in Goodwill by Segment | The following table summarizes the changes in the carrying amount of goodwill for the years ended December 31, 2021 and 2020 (dollars in thousands):
| Advisory Services |  | Global Workplace Solutions |  | Real Estate Investments |  | Total
Balance as of December 31, 2019 |  |  |  |  |  |  |
Goodwill | $ | 3,302,218 |  |  | $ | 899,506 |  |  | $ | 620,275 |  |  | $ | 4,821,999 |
Accumulated impairment losses | (761,448) |  |  | (175,473) |  |  | (131,585) |  |  | (1,068,506) |
| 2,540,770 |  |  | 724,033 |  |  | 488,690 |  |  | 3,753,493 |
Purchase accounting entries related to acquisitions | 16,463 |  |  | 9,702 |  |  | (7,984) |  |  | 18,181 |
Impairment | — |  |  | — |  |  | (25,000) |  |  | (25,000) |
Foreign exchange movement | 30,107 |  |  | 28,589 |  |  | 16,239 |  |  | 74,935 |
Balance as of December 31, 2020 |  |  |  |  |  |  |
Goodwill | 3,348,788 |  |  | 937,797 |  |  | 628,530 |  |  | 4,915,115 |
Accumulated impairment losses | (761,448) |  |  | (175,473) |  |  | (156,585) |  |  | (1,093,506) |
| 2,587,340 |  |  | 762,324 |  |  | 471,945 |  |  | 3,821,609 |
Reallocation | (101,390) |  |  | 101,390 |  |  | — |  |  | — |
Purchase accounting entries related to acquisitions | 77,616 |  |  | 1,167,678 |  |  | — |  |  | 1,245,294 |
Impairment | — |  |  | — |  |  | — |  |  | — |
Foreign exchange movement | (26,520) |  |  | (32,836) |  |  | (12,372) |  |  | (71,728) |
Balance as of December 31, 2021 |  |  |  |  |  |  |
Goodwill | 3,298,494 |  |  | 2,174,029 |  |  | 616,158 |  |  | 6,088,681 |
Accumulated impairment losses | (761,448) |  |  | (175,473) |  |  | (156,585) |  |  | (1,093,506) |
| $ | 2,537,046 |  |  | $ | 1,998,556 |  |  | $ | 459,573 |  |  | $ | 4,995,175 |
Schedule of Indefinite-Lived Intangible Assets | Other intangible assets totaled $2.4 billion, net of accumulated amortization of $1.7 billion as of December 31, 2021, and $1.4 billion, net of accumulated amortization of $1.6 billion, as of December 31, 2020 and are comprised of the following (dollars in thousands):
| December 31,
| 2021 |  | 2020
| Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Unamortizable intangible assets: |  |  |  |  |  |  |
Management contracts | $ | 63,153 |  |  |  |  | $ | 67,422 |  |  |
Trademarks | 329,224 |  |  |  |  | 56,800 |  |  |
| 392,377 |  |  |  |  | 124,222 |  |  |
Amortizable intangible assets: |  |  |  |  |  |  |
Customer relationships | 1,612,308 |  |  | $ | (667,668) |  |  | 880,104 |  |  | $ | (603,866) |
Mortgage servicing rights | 1,005,357 |  |  | (426,841) |  |  | 927,525 |  |  | (370,634) |
Trademarks/Trade names | 350,548 |  |  | (126,468) |  |  | 354,060 |  |  | (111,595) |
Management contracts | 151,912 |  |  | (137,906) |  |  | 152,312 |  |  | (145,612) |
Covenant not to compete | 73,750 |  |  | (73,750) |  |  | 73,750 |  |  | (73,750) |
Other | 548,455 |  |  | (292,647) |  |  | 412,477 |  |  | (251,080) |
| 3,742,330 |  |  | (1,725,280) |  |  | 2,800,228 |  |  | (1,556,537) |
Total intangible assets | $ | 4,134,707 |  |  | $ | (1,725,280) |  |  | $ | 2,924,450 |  |  | $ | (1,556,537) |
Schedule of Finite-Lived Intangible Assets | Other intangible assets totaled $2.4 billion, net of accumulated amortization of $1.7 billion as of December 31, 2021, and $1.4 billion, net of accumulated amortization of $1.6 billion, as of December 31, 2020 and are comprised of the following (dollars in thousands):
| December 31,
| 2021 |  | 2020
| Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Unamortizable intangible assets: |  |  |  |  |  |  |
Management contracts | $ | 63,153 |  |  |  |  | $ | 67,422 |  |  |
Trademarks | 329,224 |  |  |  |  | 56,800 |  |  |
| 392,377 |  |  |  |  | 124,222 |  |  |
Amortizable intangible assets: |  |  |  |  |  |  |
Customer relationships | 1,612,308 |  |  | $ | (667,668) |  |  | 880,104 |  |  | $ | (603,866) |
Mortgage servicing rights | 1,005,357 |  |  | (426,841) |  |  | 927,525 |  |  | (370,634) |
Trademarks/Trade names | 350,548 |  |  | (126,468) |  |  | 354,060 |  |  | (111,595) |
Management contracts | 151,912 |  |  | (137,906) |  |  | 152,312 |  |  | (145,612) |
Covenant not to compete | 73,750 |  |  | (73,750) |  |  | 73,750 |  |  | (73,750) |
Other | 548,455 |  |  | (292,647) |  |  | 412,477 |  |  | (251,080) |
| 3,742,330 |  |  | (1,725,280) |  |  | 2,800,228 |  |  | (1,556,537) |
Total intangible assets | $ | 4,134,707 |  |  | $ | (1,725,280) |  |  | $ | 2,924,450 |  |  | $ | (1,556,537) |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267 + Details
Name: | us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -Subparagraph (b),(d) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
Name: | us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration