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Segments (Tables)

6 Months Ended

Jun. 30, 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 June 30,												Six Months Ended June 30,
			2023						2022						2023						2022
Revenue
Advisory Services			$	2,041,673					$	2,587,983					$	3,895,541					$	4,836,431
Global Workplace Solutions			5,426,062						4,908,145						10,763,784						9,713,761
Real Estate Investments			255,657						277,281						479,503						561,038
Corporate, other and eliminations (1)			(3,529)						(2,131)						(7,851)						(7,019)
Total revenue			$	7,719,863					$	7,771,278					$	15,130,977					$	15,104,211
Segment Operating Profit
Advisory Services			$	315,443					$	520,657					$	585,175					$	986,311
Global Workplace Solutions			232,680						218,296						462,336						421,032
Real Estate Investments			33,131						274,518						164,629						441,570
Total reportable segment operating profit			$	581,254					$	1,013,471					$	1,212,140					$	1,848,913

_______________________________

(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 June 30,												Six Months Ended June 30,
			2023						2022						2023						2022
Net income attributable to CBRE Group, Inc.			$	201,403					$	487,322					$	318,295					$	879,619
Net income attributable to non-controlling interests			4,750						2,594						12,931						$	6,568
Net income			206,153						489,916						331,226						$	886,187
Adjustments to increase (decrease) net income:
Depreciation and amortization			154,387						162,359						315,878						311,391
Asset impairments			—						26,405						—						36,756
Interest expense, net of interest income			42,982						18,518						71,396						31,344
Provision for income taxes			55,404						120,762						83,439						117,024
Carried interest incentive compensation (reversal) expense to align with the timing of associated revenue			(459)						(7,495)						6,519						15,361
Impact of fair value adjustments to real estate assets acquired in the Telford acquisition (purchase accounting) that were sold in period			—						(1,451)						—						(3,147)
Costs incurred related to legal entity restructuring			—						10,245						—						11,921
Integration and other costs related to acquisitions			36,444						8,209						54,578						16,330
Costs associated with efficiency and cost-reduction initiatives			2,310						—						140,557						—
Provision associated with Telford’s fire safety remediation efforts (1)			—						37,505						—						37,505
Corporate and other loss, including eliminations			84,033						148,498						208,547						388,241
Total reportable segment operating profit			$	581,254					$	1,013,471					$	1,212,140					$	1,848,913

______________

(1)See Note 15 for additional information.

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 June 30,												Six Months Ended June 30,
			2023						2022						2023						2022
Revenue
United States			$	4,211,104					$	4,436,115					$	8,355,700					$	8,567,512
United Kingdom			1,055,985						1,046,493						2,051,413						2,032,491
All other countries			2,452,774						2,288,670						4,723,864						4,504,208
Total revenue			$	7,719,863					$	7,771,278					$	15,130,977					$	15,104,211

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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