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Segments (Tables)

3 Months Ended

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.

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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.

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