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Segments (Tables)

9 Months Ended

Sep. 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 September 30, 2025			Advisory  Services						Building Operations & Experience						Project Management						Real Estate Investments						Corporate, other and eliminations (3)						Consolidated
Revenue			2,235						5,794						2,027						211						(9)						10,258
Pass-through costs (1)			13						3,085						1,113						—						—						4,211
Cost of revenue, excluding pass-through costs			1,298						2,119						639						39						(2)						4,093
Operating expenses and allocations			481						348						124						192						183						1,328
Other adjustments to segment operating profit (loss):
Equity income from unconsolidated subsidiaries			—						3						—						49						1						53
Other income			1						1						—						—						1						3
Gain on disposition of real estate			—						—						—						33						3						36
Other segment adjustments (2)			—						39						2						11						51						103
Segment operating profit (loss)			$	444					$	285					$	153					$	73					$	(134)					$	821

Three Months Ended September 30, 2024			Advisory  Services						Building Operations & Experience						Project Management						Real Estate Investments						Corporate, other and eliminations (3)						Consolidated
Revenue			1,913						5,145						1,683						302						(7)						9,036
Pass-through costs (1)			17						2,804						897						—						—						3,718
Cost of revenue, excluding pass-through costs			1,105						1,830						541						60						(2)						3,534
Operating expenses and allocations			447						282						117						229						162						1,237
Other adjustments to segment operating profit (loss):
Equity (loss) income from unconsolidated subsidiaries			(9)						—						1						14						(10)						(4)
Other income (loss)			2						(1)						—						8						3						12
Loss on disposition of real estate			—						—						—						(1)						—						(1)
Other segment adjustments (2)			22						16						—						33						55						126
Segment operating profit (loss)			$	359					$	244					$	129					$	67					$	(119)					$	680

Nine Months Ended September 30, 2025			Advisory  Services						Building Operations & Experience						Project Management						Real Estate Investments						Corporate, other and eliminations (3)						Consolidated
Revenue			5,925						16,913						5,444						659						(20)						28,921
Pass-through costs (1)			39						9,147						2,909						—						—						12,095
Cost of revenue, excluding pass-through costs			3,403						6,095						1,797						121						—						11,416
Operating expenses and allocations			1,364						983						365						540						542						3,794
Other adjustments to segment operating profit (loss):
Equity (loss) income from unconsolidated subsidiaries			—						(14)						—						40						24						50
Other income (loss)			4						6						1						—						(1)						10
Gain on disposition of real estate			—						—						—						52						3						55
Other segment adjustments (2)			2						82						13						33						180						310
Segment operating profit (loss)			$	1,125					$	762					$	387					$	123					$	(356)					$	2,041

Nine Months Ended September 30, 2024			Advisory  Services						Building Operations & Experience						Project Management						Real Estate Investments						Corporate, other and eliminations (3)						Consolidated
Revenue			5,151						14,700						4,766						762						(16)						25,363
Pass-through costs (1)			43						8,114						2,472						—						—						10,629
Cost of revenue, excluding pass-through costs			2,941						5,165						1,622						161						3						9,892
Operating expenses and allocations			1,304						885						320						586						443						3,538
Other adjustments to segment operating profit (loss):
Equity (loss) income from unconsolidated subsidiaries			(8)						4						—						29						(102)						(77)
Other income			2						1						2						6						15						26
Gain on disposition of real estate			—						—						—						12						—						12
Other segment adjustments (2)			22						76						(22)						49						137						262
Segment operating profit (loss)			$	879					$	617					$	332					$	111					$	(412)					$	1,527

________________________________________________________________________________________________________________________________________

(1)Pass-through costs represent certain costs incurred associated with subcontracted third-party vendor work performed for clients. These costs are reimbursable by clients and the corresponding amounts owed are reflected within Revenue.

(2)Other segment adjustments, as defined above.

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

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Depreciation and Amortization
Advisory Services			$	69					$	67					$	203					$	192
Building Operations & Experience			65						67						196						169
Project Management			28						26						78						83
Real Estate Investments			2						4						8						10
Corporate, other and eliminations			17						14						55						43
Total depreciation and amortization			$	181					$	178					$	540					$	497
Equity income (loss) from unconsolidated subsidiaries
Advisory Services			$	—					$	(9)					$	—					$	(8)
Building Operations & Experience			3						—						(14)						4
Project Management			—						1						—						—
Real Estate Investments			49						14						40						29
Corporate, other and eliminations			1						(10)						24						(102)
Equity income (loss) from unconsolidated subsidiaries			$	53					$	(4)					$	50					$	(77)

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 September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Net income attributable to CBRE Group, Inc.			$	363					$	225					$	741					$	481
Net income attributable to non-controlling interests			33						20						86						54
Net income			396						245						827						535
Adjustments to increase (decrease) net income:
Depreciation and amortization			181						178						540						497
Interest expense, net of interest income			50						64						159						163
Write-off of financing costs on extinguished debt			—						—						2						—
Provision for income taxes			91						67						203						70
Integration and other costs related to acquisitions			60						22						204						30
Carried interest incentive compensation expense (reversal) to align with the timing of associated revenue			3						(4)						10						12
Charges related to indirect tax audits and settlements			—						25						(1)						39
Net results related to the wind-down of certain businesses (1)			30						—						44						—
Impact of fair value non-cash adjustments related to unconsolidated equity investments			—						9						2						9
Business and finance transformation			10						—						38						—
Costs associated with efficiency and cost-reduction initiatives			—						41						13						137
Costs incurred related to legal entity restructuring			—						—						—						2
Provision associated with Telford’s fire safety remediation efforts			—						33						—						33
Total segment operating profit			$	821					$	680					$	2,041					$	1,527

________________________________________________________________________________________________________________________________________

(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. In the third quarter of 2025, management made the decision to wind down certain businesses within the BOE Segment.

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 September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Revenue
United States			$	5,736					$	5,210					$	16,431					$	14,302
United Kingdom			1,446						1,257						4,066						3,537
All other countries			3,076						2,569						8,424						7,524
Total revenue			$	10,258					$	9,036					$	28,921					$	25,363

X

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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.

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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.

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