XML 51 R39.htm IDEA: XBRL DOCUMENT v3.25.2

Segments (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2025			Advisory  Services						Building Operations & Experience						Project Management						Real Estate Investments						Corporate, other and eliminations (2)						Consolidated
Adjusted net revenue			$	1,983					$	2,630					$	847					$	215					$	(7)					$	5,668
Pass-through costs also recognized as revenue			13						3,134						939						—						—						4,086
Total revenue			1,996						5,764						1,786						215						(7)						9,754
Cost of revenue			1,164						5,192						1,545						36						5						7,942
Operating expenses and allocations			455						339						122						182						177						1,275
Other adjustments to segment operating profit (loss):
Equity (loss) income from unconsolidated subsidiaries			(1)						(16)						—						(3)						2						(18)
Other income			2						3						—						—						—						5
Gain on disposition of real estate			—						—						—						19						—						19
Other segment adjustments (1)			2						41						2						12						60						117
Segment operating profit (loss)			$	380					$	261					$	121					$	25					$	(127)					$	660

Three Months Ended June 30, 2024			Advisory  Services						Building Operations & Experience						Project Management						Real Estate Investments						Corporate, other and eliminations (2)						Consolidated
Adjusted net revenue			$	1,732					$	2,228					$	782					$	232					$	(3)					$	4,971
Pass-through costs also recognized as revenue			12						2,627						781						—						—						3,420
Total revenue			1,744						4,855						1,563						232						(3)						8,391
Cost of revenue			1,016						4,375						1,345						57						—						6,793
Operating expenses and allocations			440						314						115						169						153						1,191
Other adjustments to segment operating profit (loss):
Equity income (loss) from unconsolidated subsidiaries			—						3						—						4						(22)						(15)
Other (loss) income			(1)						1						(1)						(1)						8						6
Other segment adjustments (1)			—						43						—						1						50						94
Segment operating profit (loss)			$	287					$	213					$	102					$	10					$	(120)					$	492

Six Months Ended June 30, 2025			Advisory  Services						Building Operations & Experience						Project Management						Real Estate Investments						Corporate, other and eliminations (2)						Consolidated
Adjusted net revenue			$	3,665					$	5,057					$	1,621					$	448					$	(11)					$	10,780
Pass-through costs also recognized as revenue			25						6,062						1,796						—						—						7,883
Total revenue			3,690						11,119						3,417						448						(11)						18,663
Cost of revenue			2,131						10,039						2,954						82						1						15,207
Operating expenses and allocations			883						635						241						348						360						2,467
Other adjustments to segment operating profit (loss):
Equity (loss) income from unconsolidated subsidiaries			—						(16)						—						(9)						23						(2)
Other income (loss)			3						4						1						—						(1)						7
Gain on disposition of real estate			—						—						—						19						—						19
Other segment adjustments (1)			2						44						11						22						128						207
Segment operating profit (loss)			$	681					$	477					$	234					$	50					$	(222)					$	1,220

Six Months Ended June 30, 2024			Advisory  Services						Building Operations & Experience						Project Management						Real Estate Investments						Corporate, other and eliminations (2)						Consolidated
Adjusted net revenue			$	3,212					$	4,244					$	1,508					$	460					$	(9)					$	9,415
Pass-through costs also recognized as revenue			26						5,311						1,574						—						—						6,911
Total revenue			3,238						9,555						3,082						460						(9)						16,326
Cost of revenue			1,863						8,644						2,656						100						5						13,268
Operating expenses and allocations			856						604						203						357						282						2,302
Other adjustments to segment operating profit (loss):
Equity income (loss) from unconsolidated subsidiaries			1						4						—						15						(93)						(73)
Other income (loss)			—						2						2						(2)						13						15
Gain on disposition of real estate			—						—						—						13						—						13
Other segment adjustments (1)			—						60						(22)						15						82						135
Segment operating profit (loss)			$	520					$	373					$	203					$	44					$	(294)					$	846

________________________________________________________________________________________________________________________________________

(1)Other segment adjustments, as defined above.

(2)Eliminations represent revenue from transactions between operating segments.

			Three Months Ended June 30,												Six Months Ended June 30,
			2025						2024						2025						2024
Depreciation and Amortization
Advisory Services			$	67					$	60					$	134					$	126
Building Operations & Experience			61						56						131						102
Project Management			26						28						51						56
Real Estate Investments			3						3						6						7
Corporate, other and eliminations			25						14						37						28
Total depreciation and amortization			$	182					$	161					$	359					$	319
Equity loss from unconsolidated subsidiaries
Advisory Services			$	(1)					$	—					$	—					$	1
Building Operations & Experience			(16)						3						(16)						4
Project Management			—						—						—						—
Real Estate Investments			(3)						4						(9)						15
Corporate, other and eliminations			2						(22)						23						(93)
Equity loss from unconsolidated subsidiaries			$	(18)					$	(15)					$	(2)					$	(73)

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 June 30,												Six Months Ended June 30,
			2025						2024						2025						2024
Net income attributable to CBRE Group, Inc.			$	215					$	130					$	378					$	256
Net income attributable to non-controlling interests			24						12						53						34
Net income			239						142						431						290
Adjustments to increase (decrease) net income:
Depreciation and amortization			182						161						359						319
Interest expense, net of interest income			59						63						108						99
Write-off of financing costs on extinguished debt			2						—						2						—
Provision for income taxes			61						32						113						3
Integration and other costs related to acquisitions			75						13						144						8
Carried interest incentive compensation expense to align with the timing of associated revenue			3						1						7						15
Charges related to indirect tax audits and settlements			—						13						(1)						13
Net results related to the wind-down of certain businesses (1)			9						—						14						—
Impact of fair value non-cash adjustments related to unconsolidated equity investments			2						—						2						—
Business and finance transformation			28						—						28						—
Costs associated with efficiency and cost-reduction initiatives			—						67						13						97
Costs incurred related to legal entity restructuring			—						—						—						2
Total segment operating profit			$	660					$	492					$	1,220					$	846

________________________________________________________________________________________________________________________________________

(1)    In the first quarter of 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 U.K. 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 June 30,												Six Months Ended June 30,
			2025						2024						2025						2024
Revenue
United States			$	5,526					$	4,670					$	10,695					$	9,092
United Kingdom			1,386						1,195						2,620						2,280
All other countries			2,842						2,526						5,348						4,954
Total revenue			$	9,754					$	8,391					$	18,663					$	16,326

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
-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

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

+ 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 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

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