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Note 26 - Segmented Information | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | 26. Segmented information REPORTING SEGMENTS Colliers has identified three reportable operating segments comprising of Real Estate Services, Engineering and Investment Management. Corporate represents unallocated costs of global administrative functions and the corporate head office. The groupings are based on the manner in which the segments are managed. The Chief Operating Decision Maker (“CODM”) of the Company assesses each segment’s performance and makes decisions about the allocation of resources based on their Adjusted EBITDA. As of December 31, 2024, the Chief Executive Officer is determined to be the Company’s CODM. Adjusted EBITDA is defined as net earnings, adjusted to exclude: (i) income tax; (ii) other income; (iii) interest expense; (iv) loss on disposal of operations; (v) depreciation and amortization, including amortization of mortgage servicing rights (“MSRs”); (vi) gains attributable to MSRs; (vii) acquisition-related items (including contingent acquisition consideration fair value adjustments, contingent acquisition consideration-related compensation expense and transaction costs); (viii) restructuring costs and (ix) stock-based compensation expense. Indirect operating costs includes the non-direct selling, general and administration expenses of the Company excluding stock-based compensation and restructuring costs. It also includes an adjustment to remove the impact of gains attributable to MSRs. The CODM is not provided with total asset information by segment and does not consider total assets in determining the performance of the segments nor in determining resource allocation. Therefore, total asset by segment is not disclosed.
|  | Real Estate |  |  |  |  |  |  | Investment |  |  |  |  |
|  | Services |  |  | Engineering |  |  | Management |  |  | Total |
Year ended December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 3,071,610 |  |  | $ | 1,237,384 |  |  | $ | 512,593 |  |  | $ | 4,821,587 |
Cost of revenue |  |  | 2,004,086 |  |  |  | 709,142 |  |  |  | 186,684 |  |  |  | 2,899,912 |
Indirect operating costs |  |  | 736,673 |  |  |  | 418,313 |  |  |  | 116,955 |  |  |  | 1,271,941 |
Equity earnings from non-consolidated investments |  |  | 2,549 |  |  |  | - |  |  |  | 4,721 |  |  |  | 7,270 |
Adjusted EBITDA |  |  | 333,400 |  |  |  | 109,929 |  |  |  | 213,675 |  |  | $ | 657,004 |
Corporate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 437 |
Cost of revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 37 |
Indirect operating costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13,159 |
Unallocated Adjusted EBITDA |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (12,759 | )
Deduct: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 221,602 |
Acquisition related costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (27,802 | )
Stock based compensation |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 46,041 |
Restructuring costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 23,285 |
Equity earnings from non-consolidated investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,270 |
Gains attributable to MSRs |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (15,363 | )
Consolidated operating earnings |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 389,212 |
Interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 85,779 |
Equity earnings from non-consolidated investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,270 | )
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (410 | )
Consolidated earnings before income tax |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 311,113 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 74,177 |
Consolidated net earnings |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 236,936 |
Purchases of fixed assets |  |  | 45,173 |  |  |  | 13,313 |  |  |  | 3,369 |  |  |  | 61,855 |
Consolidated revenue reconciliation: Total segmentation revenue of $4,821,587 plus unallocated revenue of $437 equals consolidated revenue of $4,822,024. Reconciliation of purchases of fixed assets: Total purchases of fixed assets of $61,855 plus unallocated purchases of $3,229 equals $65,085.
|  | Real Estate |  |  |  |  |  |  | Investment |  |  |  |  |
|  | Services |  |  | Engineering |  |  | Management |  |  | Total |
Year ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 2,856,738 |  |  | $ | 990,477 |  |  | $ | 487,457 |  |  | $ | 4,334,672 |
Cost of revenue |  |  | 1,863,214 |  |  |  | 564,335 |  |  |  | 168,872 |  |  |  | 2,596,421 |
Indirect operating costs |  |  | 704,007 |  |  |  | 329,339 |  |  |  | 107,545 |  |  |  | 1,140,890 |
Equity earnings from non-consolidated investments |  |  | 2,193 |  |  |  | - |  |  |  | 2,885 |  |  |  | 5,078 |
Adjusted EBITDA |  |  | 291,710 |  |  |  | 96,803 |  |  |  | 213,925 |  |  | $ | 602,438 |
Corporate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 469 |
Cost of revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 402 |
Indirect operating costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,513 |
Unallocated Adjusted EBITDA |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (7,445 | )
Deduct: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 202,536 |
Acquisition related costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 47,096 |
Stock based compensation |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 27,087 |
Restructuring costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 27,701 |
Loss on disposal of business |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,282 |
Equity earnings from non-consolidated investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5,078 |
Gains attributable to MSRs |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (17,722 | )
Consolidated operating earnings |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 300,935 |
Interest |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 94,077 |
Equity earnings from non-consolidated investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (5,078 | )
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (841 | )
Consolidated earnings before income tax |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 212,777 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 68,086 |
Consolidated net earnings |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 144,691 |
Purchases of fixed assets |  |  | 63,004 |  |  |  | 12,689 |  |  |  | 6,260 |  |  |  | 81,953 |
Consolidated revenue reconciliation: Total segmentation revenue of $4,334,672 plus unallocated revenue of $469 equals consolidated revenue of $4,335,141. Reconciliation of purchases of fixed assets: Total purchases of fixed assets of $81,953 plus unallocated purchases of $2,571 equals $84,524. GEOGRAPHIC INFORMATION Revenues in each geographic region are reported by customer locations except for IM where revenues are reported by the location of the fund management.
|  | 2024 |  |  | 2023 |
United States |  |  |  |  |  |  |  |
Revenues |  | $ | 2,575,616 |  |  | $ | 2,362,420 |
Total long-lived assets |  |  | 2,266,500 |  |  |  | 2,293,362 |
Canada |  |  |  |  |  |  |  |
Revenues |  | $ | 632,290 |  |  | $ | 432,176 |
Total long-lived assets |  |  | 606,803 |  |  |  | 110,195 |
Euro currency countries |  |  |  |  |  |  |  |
Revenues |  | $ | 411,664 |  |  | $ | 404,158 |
Total long-lived assets |  |  | 340,178 |  |  |  | 368,198 |
Australia |  |  |  |  |  |  |  |
Revenues |  | $ | 304,394 |  |  | $ | 284,471 |
Total long-lived assets |  |  | 124,401 |  |  |  | 114,754 |
United Kingdom |  |  |  |  |  |  |  |
Revenues |  | $ | 311,882 |  |  | $ | 266,487 |
Total long-lived assets |  |  | 497,591 |  |  |  | 526,669 |
Poland |  |  |  |  |  |  |  |
Revenues |  | $ | 100,470 |  |  | $ | 91,410 |
Total long-lived assets |  |  | 3,198 |  |  |  | 3,355 |
China |  |  |  |  |  |  |  |
Revenues |  | $ | 84,560 |  |  | $ | 87,509 |
Total long-lived assets |  |  | 10,362 |  |  |  | 8,073 |
India |  |  |  |  |  |  |  |
Revenues |  | $ | 75,569 |  |  | $ | 61,013 |
Total long-lived assets |  |  | 45,471 |  |  |  | 48,658 |
Other |  |  |  |  |  |  |  |
Revenues |  | $ | 325,579 |  |  | $ | 345,497 |
Total long-lived assets |  |  | 212,838 |  |  |  | 238,849 |
Consolidated |  |  |  |  |  |  |  |
Revenues |  | $ | 4,822,024 |  |  | $ | 4,335,141 |
Total long-lived assets |  |  | 4,107,342 |  |  |  | 3,712,113 |

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- Definition The entire disclosure for reporting segments including data and tables. 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