25.

Revenue from contracts with customers

Disaggregated revenue

Colliers has disaggregated its revenue from contracts with customers by type of service and region as presented in the following table.

OPERATING SEGMENT REVENUES

					Asia		Investment
	Americas		EMEA		Pacific		Management		Corporate		Consolidated

2019
Lease brokerage	$	691,149	$	139,141	$	115,916	$	-	$	193	$	946,399
Sales brokerage		424,703		192,673		158,533		-		-		775,909
Property management		263,126		75,751		143,037		-		-		481,914
Valuation and advisory		167,919		109,517		69,028		-		-		346,464
Project management		124,991		113,792		44,146		-		-		282,929
IM - Advisory		-		-		-		152,479		-		152,479
IM - Incentive Fees		-		-		-		19,162		-		19,162
IM - Transaction and Other		-		-		-		2,947		-		2,947
Other		18,619		5,592		11,949		-		1,448		37,608
Total Revenue	$	1,690,507	$	636,466	$	542,609	$	174,588	$	1,641	$	3,045,811

2018
Lease brokerage	$	648,815	$	139,685	$	115,447	$	-	$	-	$	903,947
Sales brokerage		441,934		168,796		170,154		-		-		780,884
Property management		228,550		84,861		135,921		-		-		449,332
Valuation and advisory		148,721		112,180		62,133		-		-		323,034
Project management		109,699		107,149		32,230		-		-		249,078
IM - Advisory		-		-		-		68,648		-		68,648
IM - Incentive Fees		-		-		-		6,330		-		6,330
IM - Transaction and Other		-		-		-		1,043		-		1,043
Other		18,465		10,567		12,475		-		1,624		43,131
Total Revenue	$	1,596,184	$	623,238	$	528,360	$	76,021	$	1,624	$	2,825,427

Contract balances

The Company had contract assets totaling

$48,934

of which

$42,772

was current (

2018

$110,432

of which

$99,468

was current). During the year ended

December 31, 2019,

substantially all of the current contract assets were moved to accounts receivable or sold under the AR Facility (Note

The Company had contract liabilities (all current) totaling

$24,133

(

2018

$28,773

). Revenue recognized for the year ended

December 31, 2019

totaled

$26,568

(

2018

$17,916

) that was included in the contract liability balance at the beginning of the year.

Certain constrained brokerage fees, outsourcing and advisory fees and investment management fees

may

arise from services that began in a prior reporting period. Consequently, a portion of the fees the Company recognizes in the current period

may

be partially related to the services performed in prior periods. In particular, generally less than

of brokerage revenue recognized in a period had previously been constrained and substantially all investment management incentive fees, including carried interest, recognized in the period were previously constrained.