XML 49 R37.htm IDEA: XBRL DOCUMENT v3.24.1.u1

Segments (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Summarized Financial Information by Segment

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.

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 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.

Schedule of 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

- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

+ Details

Name:	us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the names of foreign countries from which revenue is material and the amount of revenue from external customers attributed to those countries. An entity may also provide subtotals of geographic information about groups of countries.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

+ Details

Name:	us-gaap_ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration