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Business Combinations, Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2021

Schedule of Business Acquisitions, Pro Forma Revenue [Line Items]

Summary of Earn-out Payments [Table Text Block]

Earn-Out Payments

($ in millions)			June 30, 2021						December 31, 2020
Number of acquisitions with earn-out payments subject to the achievement of certain performance criteria			22						35
Maximum earn-out payments (undiscounted)			$	106.7					$	199.2
Short-term earn-out liabilities (fair value)(1)			13.4						77.2
Long-term earn-out liabilities (fair value)(1)			4.6						8.5

(1) Included in Short-term and Long-term acquisition-related obligations on the Condensed Consolidated Balance Sheets.

Movements in Goodwill by Reporting Segment

The following tables detail, by reporting segment, movements in goodwill.

			Real Estate Services
(in millions)			Americas			EMEA			Asia Pacific			LaSalle						Consolidated
Balance as of December 31, 2020			$	2,878.0		959.7			329.2			57.8						$	4,224.7
Dispositions			(11.0)			(0.7)			—			—						(11.7)
Impact of exchange rate movements			1.0			(4.5)			(4.4)			—						(7.9)
Balance as of June 30, 2021			$	2,868.0		954.5			324.8			57.8						$	4,205.1

			Real Estate Services
(in millions)			Americas			EMEA			Asia Pacific			LaSalle						Consolidated
Balance as of December 31, 2019			$	2,877.6		915.9			317.6			57.1						$	4,168.2
Dispositions			—			(0.7)			—			—						(0.7)
Impact of exchange rate movements			(1.7)			(41.4)			(2.5)			(1.0)						(46.6)
Balance as of June 30, 2020			$	2,875.9		873.8			315.1			56.1						$	4,120.9

Movements in Gross Carrying Amount and Accumulated Amortization of Finite-Lived Intangible Assets

The following tables detail, by reporting segment, movements in the gross carrying amount and accumulated amortization of our identifiable intangibles.

			MSRs						Other Intangibles
(in millions)			Americas						Americas			EMEA			Asia Pacific			LaSalle						Consolidated
Gross Carrying Amount
Balance as of December 31, 2020			$	572.1					265.8			55.7			23.6			57.9						$	975.1
Additions, net of adjustments (1)			61.9						—			3.8			—			—						65.7
Adjustment for fully amortized intangibles			(17.2)						(9.0)			(16.1)			(3.7)			—						(46.0)
Impact of exchange rate movements			—						—			0.3			(0.5)			(1.4)						(1.6)
Balance as of June 30, 2021			$	616.8					256.8			43.7			19.4			56.5						$	993.2
Accumulated Amortization
Balance as of December 31, 2020			$	(147.8)					(94.1)			(39.5)			(8.6)			(5.3)						$	(295.3)
Amortization, net (2)			(44.9)						(20.7)			(4.0)			(0.7)			(0.9)						(71.2)
Adjustment for fully amortized intangibles			17.2						9.0			16.1			3.7			—						46.0
Impact of exchange rate movements			—						(0.1)			(0.2)			0.1			—						(0.2)
Balance as of June 30, 2021			$	(175.5)					(105.9)			(27.6)			(5.5)			(6.2)						$	(320.7)
Net book value as of June 30, 2021			$	441.3					150.9			16.1			13.9			50.3						$	672.5

(1) Included in this amount for MSRs was $7.6 million relating to prepayments/write-offs due to prepayments of the underlying obligation for which we assumed, acquired or retained the servicing rights.

(2) Amortization of MSRs is included in Revenue before reimbursements within the Condensed Consolidated Statements of Comprehensive Income.

			MSRs						Other Intangibles
(in millions)			Americas						Americas			EMEA			Asia Pacific			LaSalle						Consolidated
Gross Carrying Amount
Balance as of December 31, 2019			$	480.4					285.7			55.9			21.4			54.0						$	897.4
Additions, net of adjustments (1)			43.0						—			—			0.5			—						43.5
Adjustment for fully amortized intangibles			(20.0)						(6.2)			(0.5)			—			—						(26.7)
Impact of exchange rate movements			—						(0.4)			(3.5)			(0.4)			(0.1)						(4.4)
Balance as of June 30, 2020			$	503.4					279.1			51.9			21.5			53.9						$	909.8
Accumulated Amortization
Balance as of December 31, 2019			$	(104.0)					(68.3)			(33.1)			(6.7)			(2.7)						$	(214.8)
Amortization, net (2)			(42.5)						(23.4)			(3.5)			(0.7)			(1.3)						(71.4)
Adjustment for fully amortized intangibles			20.0						6.2			0.5			—			—						26.7
Impact of exchange rate movements			—						0.3			2.2			0.1			—						2.6
Balance as of June 30, 2020			$	(126.5)					(85.2)			(33.9)			(7.3)			(4.0)						$	(256.9)
Net book value as of June 30, 2020			$	376.9					193.9			18.0			14.2			49.9						$	652.9

(1) Included in this amount for MSRs was (i) $9.3 million relating to prepayments/write-offs due to prepayments of the underlying obligation for which we assumed, acquired or retained the servicing rights and (ii) $2.8 million relating to an impairment valuation allowance, recognized during the three months ended June 30, 2020.

(2) Amortization of MSRs is included in Revenue before reimbursements within the Condensed Consolidated Statements of Comprehensive Income.

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-Publisher FASB
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