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v3.23.1

Segments (Tables) | 3 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
Schedule of Summarized Financial Information by Segment | Summarized financial information by segment is as follows (dollars in thousands):
| Three Months Ended March 31, |  |
| 2023 |  | 2022 |  |  |  |
Revenue |  |  |  |  |  |  |
Advisory Services | $ | 1,853,868 |  |  | $ | 2,248,448 |  |  |  |  |
Global Workplace Solutions | 5,337,722 |  |  | 4,805,616 |  |  |  |  |
Real Estate Investments | 223,846 |  |  | 283,757 |  |  |  |  |
Corporate, other and eliminations (1) | (4,322) |  |  | (4,888) |  |  |  |  |
Total revenue | $ | 7,411,114 |  |  | $ | 7,332,933 |  |  |  |  |
Segment Operating Profit |  |  |  |  |  |  |
Advisory Services | $ | 269,722 |  |  | $ | 465,654 |  |  |  |  |
Global Workplace Solutions | 229,666 |  |  | 202,736 |  |  |  |  |
Real Estate Investments | 131,498 |  |  | 167,052 |  |  |  |  |
Total reportable segment operating profit | $ | 630,886 |  |  | $ | 835,442 |  |  |  |  |
_______________________________ (1)Eliminations represent revenue from transactions with other operating segments. See Note 12.
Schedule of Reconciliation of Reportable Segment Operating Profit to Net Income | Reconciliation of total reportable segment operating profit to net income is as follows (dollars in thousands):
| Three Months Ended March 31, |  |
| 2023 |  | 2022 |  |  |  |
Net income attributable to CBRE Group, Inc. | $ | 116,892 |  |  | $ | 392,297 |  |  |  |  |
Net income attributable to non-controlling interests | 8,180 |  |  | 3,974 |  |  |  |  |
Net income | 125,072 |  |  | 396,271 |  |  |  |  |
Adjustments to increase (decrease) net income: |  |  |  |  |  |  |
Depreciation and amortization | 161,491 |  |  | 149,032 |  |  |  |  |
Asset impairments | — |  |  | 10,351 |  |  |  |  |
Interest expense, net of interest income | 28,414 |  |  | 12,826 |  |  |  |  |
Provision for (benefit from) income taxes | 28,036 |  |  | (3,738) |  |  |  |  |
Carried interest incentive compensation expense to align with the timing of associated revenue | 6,978 |  |  | 22,856 |  |  |  |  |
Impact of fair value adjustments to real estate assets acquired in the Telford acquisition (purchase accounting) that were sold in period | — |  |  | (1,696) |  |  |  |  |
Costs incurred related to legal entity restructuring | — |  |  | 1,676 |  |  |  |  |
Integration and other costs related to acquisitions | 18,134 |  |  | 8,121 |  |  |  |  |
Costs associated with efficiency and cost-reduction initiatives | 138,247 |  |  | — |  |  |  |  |
Corporate and other loss, including eliminations | 124,514 |  |  | 239,743 |  |  |  |  |
Total reportable segment operating profit | $ | 630,886 |  |  | $ | 835,442 |  |  |  |  |
Schedule of Geographic Information | Revenue in the table below is allocated based upon the country in which services are performed (dollars in thousands):
| Three Months Ended March 31, |  |
| 2023 |  | 2022 |  |  |  |
Revenue |  |  |  |  |  |  |
United States | $ | 4,144,596 |  |  | $ | 4,131,397 |  |  |  |  |
United Kingdom | 995,428 |  |  | 985,999 |  |  |  |  |
All other countries | 2,271,090 |  |  | 2,215,537 |  |  |  |  |
Total revenue | $ | 7,411,114 |  |  | $ | 7,332,933 |  |  |  |  |

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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- Definition Tabular disclosure of the names of foreign countries from which revenue is material and the amount of revenue from external customers attributed to those countries. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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