XML 35 R24.htm IDEA: XBRL DOCUMENT v3.8.0.1

Business Segments (Tables)

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Summarized Unaudited Financial Information by Business Segments

Summarized financial information by business segment is as follows.

	Three Months Ended March 31,
(in millions)	2018			2017
Americas - Real Estate Services
Leasing	$	304.5		299.0
Capital Markets	111.0			99.1
Property & Facility Management	1,183.5			1,049.1
Project & Development Services	269.6			290.5
Advisory, Consulting and Other	72.4			62.2
Revenue	1,941.0			1,799.9
Reimbursements	(1,181.7		)	(1,078.5	)
Revenue before reimbursements	759.3			721.4
Gross contract costs	(133.1		)	(131.8	)
Net non-cash MSR and mortgage banking derivative activity	(2.7		)	2.7
Fee revenue	623.5			592.3
Operating expenses, excluding reimbursed expenses:
Compensation, operating and administrative expenses	688.7			665.6
Depreciation and amortization	24.3			23.5
Segment operating expenses, excluding reimbursed expenses	713.0			689.1
Gross contract costs	(133.1		)	(131.8	)
Fee-based segment operating expenses	579.9			557.3
Segment operating income	$	46.3		32.3
Equity earnings	0.1			0.2
Segment income	$	46.4		32.5
EMEA - Real Estate Services
Leasing	$	58.9		48.8
Capital Markets	89.3			60.0
Property & Facility Management	350.3			303.9
Project & Development Services	222.6			141.7
Advisory, Consulting and Other	62.5			48.8
Revenue	783.6			603.2
Reimbursements	(156.0		)	(101.9	)
Revenue before reimbursements	627.6			501.3
Gross contract costs	(277.2		)	(231.4	)
Fee revenue	350.4			269.9
Operating expenses, excluding reimbursed expenses:
Compensation, operating and administrative expenses	636.2			523.0
Depreciation and amortization	11.4			10.3
Segment operating expenses, excluding reimbursed expenses	647.6			533.3
Gross contract costs	(277.2		)	(231.4	)
Fee-based segment operating expenses	370.4			301.9
Segment operating loss	$	(20.0	)	(32.0	)
Equity earnings	—			—
Segment loss	$	(20.0	)	(32.0	)

Continued: Summarized financial information by business segment is as follows.

	Three Months Ended March 31,
(in millions)	2018			2017
Asia Pacific - Real Estate Services
Leasing	$	37.8		30.6
Capital Markets	32.4			29.6
Property & Facility Management	519.8			454.0
Project & Development Services	87.0			77.7
Advisory, Consulting and Other	34.3			34.4
Revenue	711.3			626.3
Reimbursements	(321.6		)	(316.5	)
Revenue before reimbursements	389.7			309.8
Gross contract costs	(195.3		)	(130.4	)
Fee revenue	194.4			179.4
Operating expenses, excluding reimbursed expenses:
Compensation, operating and administrative expenses	385.0			300.0
Depreciation and amortization	5.6			4.8
Segment operating expenses, excluding reimbursed expenses	390.6			304.8
Gross contract costs	(195.3		)	(130.4	)
Fee-based segment operating expenses	195.3			174.4
Segment operating (loss) income	$	(0.9	)	5.0
Equity earnings	0.3			0.8
Segment (loss) income	$	(0.6	)	5.8
LaSalle
Advisory fees	$	69.9		62.2
Transaction fees & other	16.7			14.2
Incentive fees	32.7			11.9
Revenue	119.3			88.3
Reimbursements	(4.8		)	(4.5	)
Revenue before reimbursements	114.5			83.8
Gross Contract Costs	(1.3		)	(1.4	)
Fee revenue	113.2			82.4
Operating expenses, excluding reimbursed expenses:
Compensation, operating and administrative expenses	84.6			68.5
Depreciation and amortization	0.8			0.7
Segment operating expenses, excluding reimbursed expenses	85.4			69.2
Gross contract costs	(1.3		)	(1.4	)
Fee-based segment operating expenses	84.1			67.8
Segment operating income	$	29.1		14.6
Equity earnings	13.2			4.6
Segment income	$	42.3		19.2

	Three Months Ended March 31,
(in millions)	2018			2017
Segment Reconciling Items
Fee revenue	$	1,281.5		1,124.0
Gross contract costs	606.9			495.0
Net non-cash MSR and mortgage banking derivative activity	2.7			(2.7	)
Revenue before reimbursements	1,891.1			1,616.3
Reimbursements	1,664.1			1,501.4
Revenue	$	3,555.2		3,117.7
Total segment operating expenses, excluding reimbursed expenses and before restructuring and acquisition charges	$	1,836.6		1,596.4
Reimbursed expenses	1,664.1			1,501.4
Total segment operating expenses before restructuring and acquisition charges	$	3,500.7		3,097.8
Operating income before restructuring and acquisition charges	$	54.5		19.9
Restructuring and acquisition charges	0.7			4.5
Operating income	$	53.8		15.4

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

The following table reconciles segment identifiable assets consolidated amounts.

(in millions)	March 31, 2018			December 31, 2017
Real Estate Services:
Americas	$	4,796.7		4,745.4
EMEA	2,290.1			2,367.5
Asia Pacific	1,255.0			1,305.0
LaSalle	549.5			548.6
Corporate	312.9			287.9
Consolidated	$	9,204.2		9,254.4

X

- Definition

Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599

+ Details

Name:	us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8813-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8736-108599

+ Details

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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