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v3.25.1

Segments - Schedule of segment profit (Details) - USD ($) $ in Millions | 3 Months Ended
--- | ---
Mar. 31, 2025 | Mar. 31, 2024
Segment Reporting Information [Line Items] |  |
Total Revenue | $ 8,910 | $ 7,935
Cost of revenue | 7,265 | 6,475
Adjustments to increase (decrease) net income: |  |
Equity income (loss) from unconsolidated subsidiaries | 16 | (58)
Other income | 1 | 9
Gain on disposition of real estate | 0 | 13
Operating income | 276 | 204
Operating Segments |  |
Segment Reporting Information [Line Items] |  |
Net revenue | 5,112 | 4,444
Pass-through costs also recognized as revenue | 3,798 | 3,491
Total Revenue | 8,910 | 7,935
Cost of revenue | 7,265 | 6,475
Operating expenses and allocations | 1,192 | 1,111
Adjustments to increase (decrease) net income: |  |
Equity income (loss) from unconsolidated subsidiaries | 16 | (58)
Other income | 1 | 9
Gain on disposition of real estate |  | 13
Other segment adjustments (1) | 90 | 40
Operating income | 560 | 353
Corporate, other and eliminations |  |
Segment Reporting Information [Line Items] |  |
Net revenue | (4) | (6)
Pass-through costs also recognized as revenue | 0 | 0
Total Revenue | (4) | (6)
Cost of revenue | (4) | 5
Operating expenses and allocations | 183 | 128
Adjustments to increase (decrease) net income: |  |
Equity income (loss) from unconsolidated subsidiaries | 21 | (71)
Other income | (1) | 5
Gain on disposition of real estate |  | 0
Other segment adjustments (1) | 67 | 30
Operating income | (96) | (175)
Advisory Services | Operating Segments |  |
Segment Reporting Information [Line Items] |  |
Net revenue | 1,682 | 1,480
Pass-through costs also recognized as revenue | 12 | 14
Total Revenue | 1,694 | 1,494
Cost of revenue | 967 | 848
Operating expenses and allocations | 428 | 416
Adjustments to increase (decrease) net income: |  |
Equity income (loss) from unconsolidated subsidiaries | 1 | 1
Other income | 1 | 1
Gain on disposition of real estate |  | 0
Other segment adjustments (1) | 0 | 0
Operating income | 301 | 232
Building Operations & Experience | Operating Segments |  |
Segment Reporting Information [Line Items] |  |
Net revenue | 2,427 | 2,017
Pass-through costs also recognized as revenue | 2,928 | 2,683
Total Revenue | 5,355 | 4,700
Cost of revenue | 4,847 | 4,269
Operating expenses and allocations | 296 | 290
Adjustments to increase (decrease) net income: |  |
Equity income (loss) from unconsolidated subsidiaries | 1 | 1
Other income | 1 | 1
Gain on disposition of real estate |  | 0
Other segment adjustments (1) | 3 | 18
Operating income | 217 | 161
Project Management | Operating Segments |  |
Segment Reporting Information [Line Items] |  |
Net revenue | 774 | 725
Pass-through costs also recognized as revenue | 858 | 794
Total Revenue | 1,632 | 1,519
Cost of revenue | 1,408 | 1,310
Operating expenses and allocations | 119 | 88
Adjustments to increase (decrease) net income: |  |
Equity income (loss) from unconsolidated subsidiaries | 0 | 0
Other income | 0 | 2
Gain on disposition of real estate |  | 0
Other segment adjustments (1) | 8 | (22)
Operating income | 113 | 101
Real Estate Investments | Operating Segments |  |
Segment Reporting Information [Line Items] |  |
Net revenue | 233 | 228
Pass-through costs also recognized as revenue | 0 | 0
Total Revenue | 233 | 228
Cost of revenue | 47 | 43
Operating expenses and allocations | 166 | 189
Adjustments to increase (decrease) net income: |  |
Equity income (loss) from unconsolidated subsidiaries | (7) | 11
Other income | 0 | 0
Gain on disposition of real estate |  | 13
Other segment adjustments (1) | 12 | 14
Operating income | $ 25 | $ 34

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