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Revenue from Contracts with Customers
3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers 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 receive in exchange for those services.

Disaggregated Revenue

The following tables represent a disaggregation of revenue from contracts with customers by type of service and/or segment (dollars in thousands):
Three Months Ended March 31, 2023
Advisory
Services
Global
Workplace
Solutions
Real Estate
Investments
Corporate, other and eliminationsConsolidated
Topic 606 Revenue:
Facilities management$— $3,680,162 $— $— $3,680,162 
Project management— 1,657,560 — — 1,657,560 
Advisory leasing708,654 — — — 708,654 
Advisory sales367,404 — — — 367,404 
Property management463,774 — — (4,322)459,452 
Valuation165,612 — — — 165,612 
Commercial mortgage origination (1)
24,363 — — — 24,363 
Loan servicing (2)
17,525 — — — 17,525 
Investment management— — 147,490 — 147,490 
Development services— — 74,257 — 74,257 
Topic 606 Revenue1,747,332 5,337,722 221,747 (4,322)7,302,479 
Out of Scope of Topic 606 Revenue:
Commercial mortgage origination46,577 — — — 46,577 
Loan servicing59,959 — — — 59,959 
Development services (3)
— — 2,099 — 2,099 
Total Out of Scope of Topic 606 Revenue106,536 — 2,099 — 108,635 
Total Revenue$1,853,868 $5,337,722 $223,846 $(4,322)$7,411,114 
Three Months Ended March 31, 2022
Advisory
Services
Global
Workplace
Solutions
Real Estate
Investments
Corporate, other and eliminationsConsolidated
Topic 606 Revenue:
Facilities management$— $3,800,688 $— $— $3,800,688 
Project management— 1,004,928 — — 1,004,928 
Advisory leasing772,722 — — — 772,722 
Advisory sales619,827 — — — 619,827 
Property management455,872 — — (4,888)450,984 
Valuation181,142 — — — 181,142 
Commercial mortgage origination (1)
73,890 — — — 73,890 
Loan servicing (2)
14,008 — — — 14,008 
Investment management— — 150,567 — 150,567 
Development services— — 99,655 — 99,655 
Topic 606 Revenue2,117,461 4,805,616 250,222 (4,888)7,168,411 
Out of Scope of Topic 606 Revenue:
Commercial mortgage origination70,980 — — — 70,980 
Loan servicing60,007 — — — 60,007 
Development services (3)
— — 33,535 — 33,535 
Total Out of Scope of Topic 606 Revenue130,987 — 33,535 — 164,522 
Total Revenue$2,248,448 $4,805,616 $283,757 $(4,888)$7,332,933 
_______________________________
(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 $522.7 million ($384.0 million of which was current) and $529.1 million ($391.6 million of which was current) as of March 31, 2023 and December 31, 2022, respectively.

We had contract liabilities totaling $268.8 million ($262.2 million of which was current) and $284.3 million ($276.3 million of which was current) as of March 31, 2023 and December 31, 2022, respectively. During the three months ended March 31, 2023, we recognized revenue of $183.2 million that was included in the contract liability balance at December 31, 2022.