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Business Segments (Tables)
 3 Months Ended
Mar. 31, 2020
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)
2020
2019
Americas - Real Estate Services
 
 
Leasing
$
418.9

389.8

Capital Markets
247.4

100.1

Property & Facility Management
1,458.8

1,362.0

Project & Development Services
306.4

308.7

Advisory, Consulting and Other
91.6

89.5

Revenue
2,523.1

2,250.1

Reimbursements
(1,393.5
)
(1,351.4
)
Revenue before reimbursements
1,129.6

898.7

Gross contract costs
(212.8
)
(187.7
)
Net non-cash MSR and mortgage banking derivative activity
1.6

0.1

Fee revenue
918.4

711.1

Operating expenses, excluding reimbursed expenses:


 
Compensation, operating and administrative expenses
1,010.3

810.8

Depreciation and amortization
37.4

27.3

Segment operating expenses, excluding reimbursed expenses
1,047.7

838.1

Gross contract costs
(212.8
)
(187.7
)
Fee-based segment operating expenses
834.9

650.4

Segment operating income
$
81.9

60.6

Equity earnings (losses)
12.7

(0.3
)
Segment income
$
94.6

60.3

 
 
 
EMEA - Real Estate Services
 
 
Leasing
$
48.1

52.2

Capital Markets
73.2

64.0

Property & Facility Management
375.0

369.3

Project & Development Services
203.2

180.5

Advisory, Consulting and Other
56.4

57.4

Revenue
755.9

723.4

Reimbursements
(182.8
)
(164.6
)
Revenue before reimbursements
573.1

558.8

Gross contract costs
(262.6
)
(242.7
)
Fee revenue
310.5

316.1

Operating expenses, excluding reimbursed expenses:
 
 
Compensation, operating and administrative expenses
584.4

576.9

Depreciation and amortization
9.2

11.3

Segment operating expenses, excluding reimbursed expenses
593.6

588.2

Gross contract costs
(262.6
)
(242.7
)
Fee-based segment operating expenses
331.0

345.5

Segment operating loss
$
(20.5
)
(29.4
)
Equity earnings
—

0.1

Segment loss
$
(20.5
)
(29.3
)
Continued: Summarized financial information by business segment is as follows.
 
Three Months Ended March 31,
(in millions)
2020
2019
Asia Pacific - Real Estate Services
 
 
Leasing
$
25.4

35.9

Capital Markets
21.7

29.4

Property & Facility Management
532.0

537.8

Project & Development Services
94.8

110.9

Advisory, Consulting and Other
38.2

34.7

Revenue
712.1

748.7

Reimbursements
(284.9
)
(341.1
)
Revenue before reimbursements
427.2

407.6

Gross contract costs
(249.5
)
(209.4
)
Fee revenue
177.7

198.2

Operating expenses, excluding reimbursed expenses:
 
 
Compensation, operating and administrative expenses
417.5

400.5

Depreciation and amortization
6.6

6.4

Segment operating expenses, excluding reimbursed expenses
424.1

406.9

Gross contract costs
(249.5
)
(209.4
)
Fee-based segment operating expenses
174.6

197.5

Segment operating income
$
3.1

0.7

Equity (losses) earnings
(0.7
)
0.3

Segment income
$
2.4

1.0

 
 
 
LaSalle
 
 
Advisory fees
$
85.6

77.6

Transaction fees & other
13.6

13.2

Incentive fees
5.7

7.6

Revenue
104.9

98.4

Reimbursements
(1.8
)
(1.9
)
Revenue before reimbursements
103.1

96.5

Gross contract costs
(4.5
)
(2.8
)
Fee revenue
98.6

93.7

Operating expenses, excluding reimbursed expenses:
 
 
Compensation, operating and administrative expenses
87.1

82.9

Depreciation and amortization
1.8

1.5

Segment operating expenses, excluding reimbursed expenses
88.9

84.4

Gross contract costs
(4.5
)
(2.8
)
Fee-based segment operating expenses
84.4

81.6

Segment operating income
$
14.2

12.1

Equity (losses) earnings
(40.3
)
4.9

Segment (loss) income
$
(26.1
)
17.0


 
Three Months Ended March 31,
(in millions)
2020
2019
Segment Reconciling Items
 
 
Fee revenue
$
1,505.2

1,319.1

Gross contract costs
729.4

642.6

Net non-cash MSR and mortgage banking derivative activity
(1.6
)
(0.1
)
Revenue before reimbursements
2,233.0

1,961.6

Reimbursements
1,863.0

1,859.0

Revenue
$
4,096.0

3,820.6

Total segment operating expenses, excluding reimbursed expenses & before restructuring and acquisition charges
$
2,154.3

1,917.6

Reimbursed expenses
1,863.0

1,859.0

Total segment operating expenses before restructuring and acquisition charges
$
4,017.3

3,776.6

Operating income before restructuring and acquisition charges
$
78.7

44.0

Less: Restructuring and acquisition charges
14.1

18.6

Operating income
$
64.6

25.4