XML 34 R22.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Segments | 3 Months Ended
--- | ---
Mar. 31, 2024
Segment Reporting [Abstract] |
Segments | Segments Summarized financial information by segment is as follows (dollars in millions):
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Revenue |  |  |  |  |  |  |
Advisory Services | $ | 1,904 |  |  | $ | 1,854 |  |  |  |  |
Global Workplace Solutions | 5,809 |  |  | 5,338 |  |  |  |  |
Real Estate Investments | 228 |  |  | 223 |  |  |  |  |
Corporate, other and eliminations (1) | (6) |  |  | (4) |  |  |  |  |
Total revenue | $ | 7,935 |  |  | $ | 7,411 |  |  |  |  |
Segment Operating Profit |  |  |  |  |  |  |
Advisory Services | $ | 262 |  |  | $ | 270 |  |  |  |  |
Global Workplace Solutions | 232 |  |  | 230 |  |  |  |  |
Real Estate Investments | 34 |  |  | 131 |  |  |  |  |
Total reportable segment operating profit | $ | 528 |  |  | $ | 631 |  |  |  |  |
________________________________________________________________________________________________________________________________________ (1)Eliminations represent revenue from transactions with other operating segments. See Note 13. Reconciliation of total reportable segment operating profit to net income is as follows (dollars in millions):
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Net income attributable to CBRE Group, Inc. | $ | 126 |  |  | $ | 117 |  |  |  |  |
Net income attributable to non-controlling interests | 22 |  |  | 8 |  |  |  |  |
Net income | 148 |  |  | 125 |  |  |  |  |
Adjustments to increase (decrease) net income: |  |  |  |  |  |  |
Depreciation and amortization | 158 |  |  | 162 |  |  |  |  |
Interest expense, net of interest income | 36 |  |  | 28 |  |  |  |  |
(Benefit from) provision for income taxes | (29) |  |  | 28 |  |  |  |  |
Costs associated with efficiency and cost-reduction initiatives | 29 |  |  | 139 |  |  |  |  |
Carried interest incentive compensation expense to align with the timing of associated revenue | 14 |  |  | 7 |  |  |  |  |
Costs incurred related to legal entity restructuring | 1 |  |  | — |  |  |  |  |
Integration and other costs related to acquisitions (1) | (4) |  |  | 18 |  |  |  |  |
Corporate and other loss, including eliminations | 175 |  |  | 124 |  |  |  |  |
Total reportable segment operating profit | $ | 528 |  |  | $ | 631 |  |  |  |  |
________________________________________________________________________________________________________________________________________ (1)During the three months ended March 31, 2024, integration and other costs related to acquisitions include $17.5 million in deal and integration costs, offset by reversal of $21.7 million in previously recognized transaction-related bonus expense due to change in estimate. Our chief operating decision maker is not provided with total asset information by segment and accordingly, does not measure or allocate total assets on a segment basis. As a result, we have not disclosed any asset information by segment. Geographic Information Revenue in the table below is allocated based upon the country in which services are performed (dollars in millions):
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Revenue |  |  |  |  |  |  |
United States | $ | 4,422 |  |  | $ | 4,145 |  |  |  |  |
United Kingdom | 1,085 |  |  | 995 |  |  |  |  |
All other countries | 2,428 |  |  | 2,271 |  |  |  |  |
Total revenue | $ | 7,935 |  |  | $ | 7,411 |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration