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v3.25.1

Segments (Tables) | 3 Months Ended
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Mar. 31, 2025
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, 2025 | Advisory Services |  | Building Operations & Experience |  | Project Management |  | Real Estate Investments |  | Corporate, other and eliminations (2) |  | Consolidated
Net revenue | $ | 1,682 |  |  | $ | 2,427 |  |  | $ | 774 |  |  | $ | 233 |  |  | $ | (4) |  |  | $ | 5,112 |
Pass-through costs also recognized as revenue | 12 |  |  | 2,928 |  |  | 858 |  |  | — |  |  | — |  |  | 3,798 |
Total revenue | 1,694 |  |  | 5,355 |  |  | 1,632 |  |  | 233 |  |  | (4) |  |  | 8,910 |
Cost of revenue | 967 |  |  | 4,847 |  |  | 1,408 |  |  | 47 |  |  | (4) |  |  | 7,265 |
Operating expenses and allocations | 428 |  |  | 296 |  |  | 119 |  |  | 166 |  |  | 183 |  |  | 1,192 |
Other adjustments to segment operating profit (loss): |  |  |  |  |  |  |  |  |  |  |
Equity income (loss) from unconsolidated subsidiaries | 1 |  |  | 1 |  |  | — |  |  | (7) |  |  | 21 |  |  | 16 |
Other income (loss) | 1 |  |  | 1 |  |  | — |  |  | — |  |  | (1) |  |  | 1 |
Other segment adjustments (1) | — |  |  | 3 |  |  | 8 |  |  | 12 |  |  | 67 |  |  | 90 |
Segment operating profit (loss) | $ | 301 |  |  | $ | 217 |  |  | $ | 113 |  |  | $ | 25 |  |  | $ | (96) |  |  | $ | 560 |
Three Months Ended March 31, 2024 | Advisory Services |  | Building Operations & Experience |  | Project Management |  | Real Estate Investments |  | Corporate, other and eliminations (2) |  | Consolidated
Net revenue | $ | 1,480 |  |  | $ | 2,017 |  |  | $ | 725 |  |  | $ | 228 |  |  | $ | (6) |  |  | $ | 4,444 |
Pass-through costs also recognized as revenue | 14 |  |  | 2,683 |  |  | 794 |  |  | — |  |  | — |  |  | 3,491 |
Total revenue | 1,494 |  |  | 4,700 |  |  | 1,519 |  |  | 228 |  |  | (6) |  |  | 7,935 |
Cost of revenue | 848 |  |  | 4,269 |  |  | 1,310 |  |  | 43 |  |  | 5 |  |  | 6,475 |
Operating expenses and allocations | 416 |  |  | 290 |  |  | 88 |  |  | 189 |  |  | 128 |  |  | 1,111 |
Other adjustments to segment operating profit (loss): |  |  |  |  |  |  |  |  |  |  |
Equity income (loss) from unconsolidated subsidiaries | 1 |  |  | 1 |  |  | — |  |  | 11 |  |  | (71) |  |  | (58) |
Other income | 1 |  |  | 1 |  |  | 2 |  |  | — |  |  | 5 |  |  | 9 |
Gain on disposition of real estate | — |  |  | — |  |  | — |  |  | 13 |  |  | — |  |  | 13 |
Other segment adjustments (1) | — |  |  | 18 |  |  | (22) |  |  | 14 |  |  | 30 |  |  | 40 |
Segment operating profit (loss) | $ | 232 |  |  | $ | 161 |  |  | $ | 101 |  |  | $ | 34 |  |  | $ | (175) |  |  | $ | 353 |
________________________________________________________________________________________________________________________________________ (1)Other segment adjustments, as defined above. (2)Eliminations represent revenue from transactions between operating segments.
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Depreciation and Amortization |  |  |  |  |  |  |
Advisory Services | $ | 67 |  |  | $ | 65 |  |  |  |  |
Building Operations & Experience | 70 |  |  | 46 |  |  |  |  |
Project Management | 25 |  |  | 29 |  |  |  |  |
Real Estate Investments | 3 |  |  | 3 |  |  |  |  |
Corporate, other and eliminations | 12 |  |  | 15 |  |  |  |  |
Total depreciation and amortization | $ | 177 |  |  | $ | 158 |  |  |  |  |
Equity income (loss) from unconsolidated subsidiaries |  |  |  |  |  |  |
Advisory Services | $ | 1 |  |  | $ | 1 |  |  |  |  |
Building Operations & Experience | 1 |  |  | 1 |  |  |  |  |
Project Management | — |  |  | — |  |  |  |  |
Real Estate Investments | (7) |  |  | 11 |  |  |  |  |
Corporate, other and eliminations | 21 |  |  | (71) |  |  |  |  |
Equity income (loss) from unconsolidated subsidiaries | $ | 16 |  |  | $ | (58) |  |  |  |  |
Schedule of Reconciliation of Segment Operating Profit to Net Income | Reconciliation of total segment operating profit to net income is as follows (dollars in millions):
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Net income attributable to CBRE Group, Inc. | $ | 163 |  |  | $ | 126 |  |  |  |  |
Net income attributable to non-controlling interests | 28 |  |  | 22 |  |  |  |  |
Net income | 191 |  |  | 148 |  |  |  |  |
Adjustments to increase (decrease) net income: |  |  |  |  |  |  |
Depreciation and amortization | 177 |  |  | 158 |  |  |  |  |
Interest expense, net of interest income | 50 |  |  | 36 |  |  |  |  |
Provision for (benefit from) income taxes | 52 |  |  | (29) |  |  |  |  |
Integration and other costs related to acquisitions | 68 |  |  | (4) |  |  |  |  |
Costs associated with efficiency and cost-reduction initiatives | 13 |  |  | 29 |  |  |  |  |
Charges related to indirect tax audits and settlements | (1) |  |  | — |  |  |  |  |
Carried interest incentive compensation expense to align with the timing of associated revenue | 4 |  |  | 14 |  |  |  |  |
Costs incurred related to legal entity restructuring | — |  |  | 1 |  |  |  |  |
Net results related to the wind-down of certain businesses (1) | 6 |  |  | — |  |  |  |  |
Total segment operating profit | $ | 560 |  |  | $ | 353 |  |  |  |  |
________________________________________________________________________________________________________________________________________ (1) In early 2025, management made the decision to wind-down Telford Homes’ legacy construction business. A new Telford entity, Telford Living, is developing residential housing in the UK under a new business model under which the company does not self-perform general contracting.
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, |  |
| 2025 |  | 2024 |  |  |  |
Revenue |  |  |  |  |  |  |
United States | $ | 5,169 |  |  | $ | 4,422 |  |  |  |  |
United Kingdom | 1,234 |  |  | 1,085 |  |  |  |  |
All other countries | 2,507 |  |  | 2,428 |  |  |  |  |
Total revenue | $ | 8,910 |  |  | $ | 7,935 |  |  |  |  |

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- 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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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
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