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Segment and Geographic Information (Tables) | 3 Months Ended
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Mar. 31, 2018
Segment Reporting [Abstract] |
Segment Reporting Information | Three months ended March 31, 2018 (in thousands):
|  | Financial Services |  |  | Real Estate Services |  |  | Corporate Items |  |  | Total |
Brokerage revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rates |  | $ | 160,772 |  |  | $ | — |  |  | $ | — |  |  | $ | 160,772 |
Credit |  |  | 82,050 |  |  |  | — |  |  |  | — |  |  |  | 82,050 |
Foreign exchange |  |  | 99,050 |  |  |  | — |  |  |  | — |  |  |  | 99,050 |
Energy and commodities |  |  | 60,149 |  |  |  | — |  |  |  | — |  |  |  | 60,149 |
Equities, insurance, and other asset classes |  |  | 97,754 |  |  |  | — |  |  |  | — |  |  |  | 97,754 |
Leasing and other services |  |  | — |  |  |  | 159,378 |  |  |  | — |  |  |  | 159,378 |
Real estate capital markets |  |  | — |  |  |  | 101,364 |  |  |  | — |  |  |  | 101,364 |
Gains from mortgage banking activities/originations, net |  |  | — |  |  |  | 38,914 |  |  |  | — |  |  |  | 38,914 |
Real estate management and other services |  |  | — |  |  |  | 96,878 |  |  |  | — |  |  |  | 96,878 |
Servicing fees |  |  | — |  |  |  | 28,926 |  |  |  | — |  |  |  | 28,926 |
Fees from related parties |  |  | — |  |  |  | 291 |  |  |  | 6,299 |  |  |  | 6,590 |
Data, software and post-trade |  |  | 15,099 |  |  |  | — |  |  |  | — |  |  |  | 15,099 |
Other revenues |  |  | 913 |  |  |  | 48 |  |  |  | 13 |  |  |  | 974 |
Total non-interest revenues |  |  | 515,787 |  |  |  | 425,799 |  |  |  | 6,312 |  |  |  | 947,898 |
Interest income |  |  | 834 |  |  |  | 6,072 |  |  |  | 1,842 |  |  |  | 8,748 |
Total revenues |  |  | 516,621 |  |  |  | 431,871 |  |  |  | 8,154 |  |  |  | 956,646 |
Interest expense |  |  | — |  |  |  | 3,692 |  |  |  | 23,446 |  |  |  | 27,138 |
Non-interest expenses |  |  | 403,821 |  |  |  | 351,427 |  |  |  | 80,809 |  |  |  | 836,057 |
Total expenses |  |  | 403,821 |  |  |  | 355,119 |  |  |  | 104,255 |  |  |  | 863,195 |
Other income (losses), net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on divestiture and sale of investments |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Gains (losses) on equity investments |  |  | — |  |  |  | 3,176 |  |  |  | 2,625 |  |  |  | 5,801 |
Other income (losses) |  |  | 10,935 |  |  |  | 2,433 |  |  |  | 20,574 |  |  |  | 33,942 |
Total other income (losses), net |  |  | 10,935 |  |  |  | 5,609 |  |  |  | 23,199 |  |  |  | 39,743 |
Income (loss) from operations before income taxes |  | $ | 123,735 |  |  | $ | 82,361 |  |  | $ | (72,902 | ) |  | $ | 133,194 |
Three months ended March 31, 2017 (in thousands):
|  | Financial Services |  |  | Real Estate Services |  |  | Corporate Items |  |  | Total |
Brokerage revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Rates |  | $ | 135,752 |  |  | $ | — |  |  | $ | — |  |  | $ | 135,752 |
Credit |  |  | 81,870 |  |  |  | — |  |  |  | — |  |  |  | 81,870 |
Foreign exchange |  |  | 80,026 |  |  |  | — |  |  |  | — |  |  |  | 80,026 |
Energy and commodities |  |  | 53,145 |  |  |  | — |  |  |  | — |  |  |  | 53,145 |
Equities, insurance, and other asset classes |  |  | 75,706 |  |  |  | — |  |  |  | — |  |  |  | 75,706 |
Leasing and other services |  |  | — |  |  |  | 127,574 |  |  |  | — |  |  |  | 127,574 |
Real estate capital markets |  |  | — |  |  |  | 77,390 |  |  |  | — |  |  |  | 77,390 |
Gains from mortgage banking activities/originations, net |  |  | — |  |  |  | 45,261 |  |  |  | — |  |  |  | 45,261 |
Real estate management and other services |  |  | — |  |  |  | 50,630 |  |  |  | — |  |  |  | 50,630 |
Servicing fees |  |  | — |  |  |  | 24,832 |  |  |  | — |  |  |  | 24,832 |
Fees from related parties |  |  | — |  |  |  | 373 |  |  |  | 6,565 |  |  |  | 6,938 |
Data, software and post-trade |  |  | 13,087 |  |  |  | — |  |  |  | — |  |  |  | 13,087 |
Other revenues |  |  | 942 |  |  |  | 4 |  |  |  | 30 |  |  |  | 976 |
Total non-interest revenues |  |  | 440,528 |  |  |  | 326,064 |  |  |  | 6,595 |  |  |  | 773,187 |
Interest income |  |  | 650 |  |  |  | 7,656 |  |  |  | 1,700 |  |  |  | 10,006 |
Total revenues |  |  | 441,178 |  |  |  | 333,720 |  |  |  | 8,295 |  |  |  | 783,193 |
Interest expense |  |  | — |  |  |  | 1,874 |  |  |  | 16,889 |  |  |  | 18,763 |
Non-interest expenses |  |  | 353,906 |  |  |  | 279,292 |  |  |  | 79,252 |  |  |  | 712,450 |
Total expenses |  |  | 353,906 |  |  |  | 281,166 |  |  |  | 96,141 |  |  |  | 731,213 |
Other income (losses), net: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gain (loss) on divestiture and sale of investments |  |  | — |  |  |  | — |  |  |  | 557 |  |  |  | 557 |
Gains (losses) on equity investments |  |  | — |  |  |  | — |  |  |  | 237 |  |  |  | 237 |
Other income (losses) |  |  | 4,648 |  |  |  | — |  |  |  | 372 |  |  |  | 5,020 |
Total other income (losses), net |  |  | 4,648 |  |  |  | — |  |  |  | 1,166 |  |  |  | 5,814 |
Income (loss) from operations before income taxes |  | $ | 91,920 |  |  | $ | 52,554 |  |  | $ | (86,680 | ) |  | $ | 57,794 |
Total Assets by Reportable Segment | Total assets by reportable segment (in thousands):
Total Assets1 |  | Financial Services |  |  | Real Estate Services |  |  | Total |
At March 31, 2018 |  | $ | 3,720,346 |  |  | $ | 3,057,150 |  |  | $ | 6,777,496 |
At December 31, 2017 |  | $ | 3,146,023 |  |  | $ | 2,283,689 |  |  | $ | 5,429,712 |
Geographic Information Regarding Revenues | Information regarding revenues for the three months ended March 31, 2018 and 2017, respectively, is as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2018 |  |  | 2017 |
Revenues: |  |  |  |  |  |  |  |
United States |  | $ | 572,254 |  |  | $ | 461,686 |
United Kingdom |  |  | 223,559 |  |  |  | 186,810 |
Asia |  |  | 69,029 |  |  |  | 61,109 |
Other Europe/MEA |  |  | 53,672 |  |  |  | 34,002 |
France |  |  | 23,018 |  |  |  | 25,265 |
Other Americas |  |  | 15,114 |  |  |  | 14,321 |
Total revenues |  | $ | 956,646 |  |  | $ | 783,193 |
Information Regarding Long-Lived Assets in Geographic Areas | Information regarding long-lived assets (defined as loans, forgivable loans and other receivables from employees and partners, net; fixed assets, net; certain other investments; goodwill; other intangible assets, net of accumulated amortization; and rent and other deposits) in the geographic areas as of March 31, 2018 and December 31, 2017, respectively, is as follows (in thousands):
|  | March 31, |  |  | December 31, |
|  | 2018 |  |  | 2017 |
Long-lived assets: |  |  |  |  |  |  |  |
United States |  | $ | 1,419,107 |  |  | $ | 1,373,118 |
United Kingdom |  |  | 330,683 |  |  |  | 352,232 |
Asia |  |  | 38,207 |  |  |  | 32,603 |
Other Europe/MEA |  |  | 12,235 |  |  |  | 10,477 |
France |  |  | 9,163 |  |  |  | 7,373 |
Other Americas |  |  | 27,313 |  |  |  | 27,050 |
Total long-lived assets |  | $ | 1,836,708 |  |  | $ | 1,802,853 |

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