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Segments (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Summarized Financial Information by Segment | Summarized financial information by segment is as follows (dollars in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Revenue |  |  |  |  |
Advisory Services | $ | 8,499 |  |  | $ | 9,883 |  |  | $ | 9,575 |
Global Workplace Solutions | 22,515 |  |  | 19,851 |  |  | 17,099 |
Real Estate Investments | 952 |  |  | 1,110 |  |  | 1,092 |
Corporate, other and eliminations (1) | (17) |  |  | (16) |  |  | (20) |
Total revenue | $ | 31,949 |  |  | $ | 30,828 |  |  | $ | 27,746 |
Depreciation and Amortization |  |  |  |  |
Advisory Services | $ | 289 |  |  | $ | 311 |  |  | $ | 311 |
Global Workplace Solutions (2) | 262 |  |  | 253 |  |  | 159 |
Real Estate Investments | 15 |  |  | 16 |  |  | 27 |
Corporate, other and eliminations | 56 |  |  | 33 |  |  | 29 |
Total depreciation and amortization | $ | 622 |  |  | $ | 613 |  |  | $ | 526 |
Equity Income (Loss) from Unconsolidated Subsidiaries |  |  |  |  |
Advisory Services | $ | 4 |  |  | $ | 15 |  |  | $ | 25 |
Global Workplace Solutions | 1 |  |  | 1 |  |  | 2 |
Real Estate Investments | 216 |  |  | 380 |  |  | 555 |
Corporate, other and eliminations | 27 |  |  | (167) |  |  | 37 |
Total equity income from unconsolidated subsidiaries | $ | 248 |  |  | $ | 229 |  |  | $ | 619 |
Segment Operating Profit |  |  |  |  |
Advisory Services | $ | 1,364 |  |  | $ | 1,910 |  |  | $ | 2,063 |
Global Workplace Solutions | 1,006 |  |  | 899 |  |  | 708 |
Real Estate Investments | 239 |  |  | 518 |  |  | 520 |
Total reportable segment operating profit | $ | 2,609 |  |  | $ | 3,327 |  |  | $ | 3,291 |
________________________________________________________________________________________________________________________________________ (1)Eliminations represent revenue from transactions with other operating segments. See Note 18. (2)Excludes $46.4 million, $52.7 million and $52.2 million for the years ended December 31, 2023, 2022 and 2021, respectively, of amortization on vehicle finance leases utilized in client outsourcing arrangements and amortization of transition costs recorded in Cost of Revenue line item in the accompanying consolidated statement of operations.
Reconciliation of Segment Operating Profit | Reconciliation of total reportable segment operating profit to net income is as follows (dollars in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Net income attributable to CBRE Group, Inc. | $ | 986 |  |  | $ | 1,407 |  |  | $ | 1,837 |
Net income attributable to non-controlling interests | 41 |  |  | 17 |  | 5
Net income | 1,027 |  |  | 1,424 |  | 1,842
Adjustments to increase (decrease) net income: |  |  |  |  |
Depreciation and amortization | 622 |  |  | 613 |  |  | 526 |
Asset impairments | — |  |  | 59 |  |  | — |
Interest expense, net of interest income | 149 |  |  | 69 |  |  | 50 |
Write-off of financing costs on extinguished debt | — |  |  | 2 |  |  | — |
Provision for income taxes | 250 |  |  | 234 |  |  | 568 |
Carried interest incentive compensation (reversal) expense to align with the timing of associated revenue | (7) |  |  | (4) |  |  | 50 |
Impact of fair value adjustments to real estate assets acquired in the Telford acquisition (purchase accounting) that were sold in period | — |  |  | (5) |  |  | (6) |
Costs incurred related to legal entity restructuring | 13 |  |  | 13 |  |  | — |
Integration and other costs related to acquisitions | 62 |  |  | 40 |  |  | 44 |
Costs associated with efficiency and cost-reduction initiatives | 159 |  |  | 118 |  |  | — |
Provision associated with Telford’s fire safety remediation efforts (1) | — |  |  | 186 |  |  | — |
One-time gain associated with remeasuring an investment in an unconsolidated subsidiary to fair value as of the date the remaining controlling interest was acquired | (34) |  |  | — |  |  | — |
Corporate and other loss, including eliminations | 368 |  |  | 578 |  |  | 217 |
Total reportable segment operating profit | $ | 2,609 |  |  | $ | 3,327 |  |  | $ | 3,291 |
________________________________________________________________________________________________________________________________________ (1)See Note 22 for additional information.
Summary of Geographic Information | Revenue in the table below is allocated based upon the country in which services are performed (dollars in millions):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Revenue |  |  |  |  |
United States | $ | 17,458 |  |  | $ | 17,464 |  |  | $ | 15,700 |
United Kingdom | 4,393 |  |  | 4,084 |  |  | 3,618 |
All other countries | 10,098 |  |  | 9,280 |  |  | 8,428 |
Total revenue | $ | 31,949 |  |  | $ | 30,828 |  |  | $ | 27,746 |

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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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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