XML 32 R20.htm IDEA: XBRL DOCUMENT v3.24.3
Income Per Share and Stockholders' Equity
 9 Months Ended
Sep. 30, 2024
Earnings Per Share And Stockholders Equity [Abstract]  
Income Per Share and Stockholders' Equity Income Per Share and Stockholders’ Equity
The calculations of basic and diluted income per share attributable to CBRE Group, Inc. stockholders are as follows (dollars in millions, except share and per share data):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Basic Income Per Share
Net income attributable to CBRE Group, Inc. stockholders$225 $191 $481 $509 
Weighted average shares outstanding for basic income per share306,253,811 307,854,518 306,269,264 309,716,456 
Basic income per share attributable to CBRE Group, Inc. stockholders$0.73 $0.62 $1.57 $1.64 
Diluted Income Per Share
Net income attributable to CBRE Group, Inc. stockholders$225 $191 $481 $509 
Weighted average shares outstanding for basic income per share306,253,811 307,854,518 306,269,264 309,716,456 
Dilutive effect of contingently issuable shares2,051,202 4,366,615 2,011,847 4,228,399 
Weighted average shares outstanding for diluted income per share308,305,013 312,221,133 308,281,111 313,944,855 
Diluted income per share attributable to CBRE Group, Inc. stockholders$0.73 $0.61 $1.56 $1.62 
For the three and nine months ended September 30, 2024, 5,875 and 238,815, respectively, of contingently issuable shares were excluded from the computation of diluted income per share because their inclusion would have had an anti-dilutive effect.
For the three and nine months ended September 30, 2023, 326,762 and 345,108, respectively, of contingently issuable shares were excluded from the computation of diluted income per share because their inclusion would have had an anti-dilutive effect.
On November 19, 2021, our board of directors authorized a program for the repurchase of up to $2.0 billion of our Class A common stock over five years (the 2021 program). On August 18, 2022, our board of directors authorized an additional $2.0 billion, bringing the total authorized repurchase amount under this program to a total of $4.0 billion. During the three months ended September 30, 2024, we repurchased 567,209 shares of our common stock with an average price of $109.20 per share using cash on hand for an aggregate of $62 million under the 2021 program. During the nine months ended September 30, 2024, we repurchased 1,121,950 shares of our common stock with an average price of $98.35 per share using cash on hand for an aggregate of $110 million under the 2021 program. As of September 30, 2024, we had approximately $1.4 billion of capacity remaining under the 2021 program. During the three months ended September 30, 2023, we repurchased 6,213,921 shares of our common stock using cash on hand for an aggregate of $516 million. During the nine months ended September 30, 2023, we repurchased 7,582,094 shares of our common stock using cash on hand for an aggregate of $630 million.