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Acquisitions (Tables)

12 Months Ended

Dec. 31, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following summarizes the consideration transferred at closing for the J&J acquisition (dollars in millions):


Cash consideration	$	808
Deferred and contingent consideration	11
Total consideration	$	819

Summary of Excess Purchase Price Over Estimated Fair Value of Net Assets Acquired

The following represents the summary of the excess purchase price over the fair value of net assets acquired (dollars in millions):


Purchase price	$	819
Less: Estimated fair value of net assets acquired (see table below)	353
Excess purchase price over estimated fair value of net assets acquired	$	466

Schedule of Aggregate Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values assigned to the identified assets acquired and liabilities assumed at the acquisition date on February 27, 2024 (dollars in millions):


Assets Acquired:
Cash and cash equivalents	$	26

Receivables, net	91
Contract assets	19
Prepaid expenses	2
Other current assets	2
Property and equipment, net	11
Other intangible assets, net	297
Operating lease assets	6
Investments in unconsolidated subsidiaries	20
Other assets, net	10
Total assets acquired	484
Liabilities Assumed:
Accounts payable and accrued expenses	56
Compensation and employee benefits payable	10
Contract liabilities	1
Income taxes payable	1
Other current liabilities	3
Non-current operating lease liabilities	3
Deferred tax liabilities, net	48
Other liabilities	3
Total liabilities assumed	125
Non-controlling Interest Acquired	6
Estimated Fair Value of Net Assets Acquired	$	353

The following table identifies the company’s allocation of purchase price to goodwill and other intangible assets by category (dollars in millions):


	Amount Assigned at Acquisition Date		Weighted-Average Life (in years)
Goodwill	$	130	N/A
Customer relationships	148		12 years
Other intangible assets	16		2 years
Total	$	294

The following table identifies the company’s allocation of purchase price to goodwill and other intangible assets by category (dollars in millions):


	Amount Assigned at Acquisition Date		Weighted-Average Life (in years)
Goodwill	$	199	N/A
Customer relationships	75		10 years
Other intangible assets	7		4 years
Total	$	281

Schedule of Trademarks Acquired as Part of Business Combination

In connection with the J&J acquisition, below is a summary of the value allocated to the intangible assets acquired (dollars in millions):


				As of December 31, 2024
Asset Class	Amortization Period	Amount Assigned at Acquisition Date		Accumulated Amortization		Net Carrying Value
Customer relationships	9-12 years	$	174	$	12	$	162
Backlog	4-6 years	111		21		90
Trademark	3 years	10		3		7
Technology	5 years	2		—		2

Summary of Pro Forma Results Prepared for Comparative Purposes

These unaudited pro forma results have been prepared for comparative purposes only and do not purport to be indicative of what operating results would have been had the J&J acquisition occurred on January 1, 2023 and may not be indicative of future operating results (dollars in millions, except share and per share data):


	Year Ended December 31,
	2024		2023
Revenue	$	35,839	$	32,411
Operating income	1,431		1,079
Net income attributable to CBRE Group, Inc.	979		933
Basic income per share:
Net income per share attributable to CBRE Group, Inc.	$	3.20	$	3.03
Weighted average shares outstanding for basic income per share	305,859,458		308,430,080
Diluted income per share:
Net income per share attributable to CBRE Group, Inc.	$	3.18	$	2.99
Weighted average shares outstanding for diluted income per share	308,033,612		312,550,942