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Segments (Tables)
 12 Months Ended
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,
202320222021
Revenue
Advisory Services$8,499 $9,883 $9,575 
Global Workplace Solutions22,515 19,851 17,099 
Real Estate Investments952 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 Investments15 16 27 
Corporate, other and eliminations56 33 29 
Total depreciation and amortization$622 $613 $526 
Equity Income (Loss) from Unconsolidated Subsidiaries
Advisory Services$4 $15 $25 
Global Workplace Solutions1 1 2 
Real Estate Investments216 380 555 
Corporate, other and eliminations27 (167)37 
Total equity income from unconsolidated subsidiaries$248 $229 $619 
Segment Operating Profit
Advisory Services$1,364 $1,910 $2,063 
Global Workplace Solutions1,006 899 708 
Real Estate Investments239 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,
202320222021
Net income attributable to CBRE Group, Inc.$986 $1,407 $1,837 
Net income attributable to non-controlling interests41 175
Net income1,027 1,4241,842
Adjustments to increase (decrease) net income:
Depreciation and amortization622 613 526 
Asset impairments— 59 — 
Interest expense, net of interest income149 69 50 
Write-off of financing costs on extinguished debt— 2 — 
Provision for income taxes250 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 restructuring13 13 — 
Integration and other costs related to acquisitions62 40 44 
Costs associated with efficiency and cost-reduction initiatives159 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 eliminations368 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,
202320222021
Revenue
United States$17,458 $17,464 $15,700 
United Kingdom4,393 4,084 3,618 
All other countries10,098 9,280 8,428 
Total revenue$31,949 $30,828 $27,746