26.

Segmented information

Operating segments

Colliers identified

four

reportable operating segments. Three segments are grouped geographically into Americas, Asia Pacific and EMEA. The Investment Management segment includes Harrison Street and the Company’s pre-existing European investment management business which was reported in EMEA prior to the acquisition of Harrison Street in

July 2018.

The groupings are based on the manner in which the segments are managed. Management assesses each segment’s performance based on operating earnings or operating earnings before depreciation and amortization. Corporate includes the costs of global administrative functions and the corporate head office

Included in segment total assets at

December 31, 2019

are investments in subsidiaries accounted for under the equity method or cost method: Americas

$3,823

(

2018

$4,311

), EMEA

$1,900

(

2018

$1,820

), Asia Pacific

(

2018

), Investment Management

$2,607

(

2018

$430

) and Corporate

$3,155

(

2018

$1,200

). The reportable segment information excludes intersegment transactions.

Total assets as at

December 31, 2019

includes

$258,117

of real estate assets held for sale from the Investment Management segment (See note

2019					Asia		Investment
	Americas		EMEA		Pacific		Management		Corporate			Consolidated

Revenues	$	1,690,507	$	636,466	$	542,609	$	174,588	$	1,641		$	3,045,811
Depreciation and amortization		34,113		22,489		7,969		26,504		3,589			94,664
Operating earnings (loss)		103,731		48,510		67,062		35,048		(36,154	)		218,197
Other income, net													1,853
Interest expense, net													(29,452	)
Income tax expense													(53,013	)

Net earnings												$	137,585

Total assets	$	917,997	$	672,691	$	388,606	$	953,567	$	(40,147	)	$	2,892,714
Total additions to long-lived assets		47,132		12,656		79,904		1,829		4,961			146,482

2018					Asia		Investment
	Americas		EMEA		Pacific		Management		Corporate			Consolidated

Revenues	$	1,596,184	$	623,238	$	528,360	$	76,021	$	1,624		$	2,825,427
Depreciation and amortization		30,391		25,435		6,320		13,791		2,793			78,730
Operating earnings (loss)		105,490		53,862		66,240		12,326		(36,520	)		201,398
Other income, net													1,281
Interest expense, net													(20,845	)
Income tax expense													(53,260	)

Net earnings												$	128,574

Total assets	$	846,919	$	602,964	$	228,490	$	693,040	$	(13,833	)	$	2,357,580
Total additions to long-lived assets		61,814		161,823		10,669		649,898		3,743			887,947

Geographic information

Revenues in each geographic region are reported by customer locations.

GEOGRAPHIC INFORMATION

	2019		2018

United States
Revenues	$	1,429,650	$	1,243,019
Total long-lived assets
Long-lived assets excluding operating lease right-of-use assets		934,622		943,164
Operating lease right-of-use assets		122,921		-

Canada
Revenues	$	356,634	$	358,035
Total long-lived assets
Long-lived assets excluding operating lease right-of-use assets		66,234		65,781
Operating lease right-of-use assets		22,355		-

Euro currency countries
Revenues	$	356,171	$	360,115
Total long-lived assets
Long-lived assets excluding operating lease right-of-use assets		256,194		265,867
Operating lease right-of-use assets		37,479		-

Australia
Revenues	$	235,469	$	238,537
Total long-lived assets
Long-lived assets excluding operating lease right-of-use assets		47,734		47,886
Operating lease right-of-use assets		37,235		-

United Kingdom
Revenues	$	170,302	$	172,820
Total long-lived assets
Long-lived assets excluding operating lease right-of-use assets		70,704		68,732
Operating lease right-of-use assets		15,294		-

Other
Revenues	$	497,585	$	452,901
Total long-lived assets
Long-lived assets excluding operating lease right-of-use assets		158,384		87,877
Operating lease right-of-use assets		28,355		-

Consolidated
Revenues	$	3,045,811	$	2,825,427
Total long-lived assets
Long-lived assets excluding operating lease right-of-use assets		1,533,872		1,479,307
Operating lease right-of-use assets		263,639		-