2023 Q2 Form 10-Q Financial Statement

#000113811823000015 Filed on April 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $7.720B $7.411B $7.333B
YoY Change -0.66% 1.07% 23.47%
Cost Of Revenue $6.179B $6.006B $5.752B
YoY Change 2.07% 4.42% 21.88%
Gross Profit $1.540B $1.405B $1.581B
YoY Change -10.3% -11.14% 29.64%
Gross Profit Margin 19.95% 18.95% 21.56%
Selling, General & Admin $1.089B $1.209B $1.066B
YoY Change -8.41% 13.41% 28.7%
% of Gross Profit 70.69% 86.06% 67.44%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $154.4M $161.5M $149.0M
YoY Change -4.91% 8.36% 22.06%
% of Gross Profit 10.02% 11.5% 9.43%
Operating Expenses $1.243B $1.370B $1.215B
YoY Change -7.99% 12.79% 27.83%
Operating Profit $297.2M $37.37M $377.0M
YoY Change -42.51% -90.09% 40.09%
Interest Expense -$50.48M $113.3M $30.05M
YoY Change -150.16% 276.99% -59.12%
% of Operating Profit -16.99% 303.14% 7.97%
Other Income/Expense, Net $5.612M $2.475M -$14.46M
YoY Change -181.23% -117.11% -629.43%
Pretax Income $261.6M $153.1M $392.5M
YoY Change -57.17% -60.99% 13.68%
Income Tax $55.40M $28.04M -$3.738M
% Of Pretax Income 21.18% 18.31% -0.95%
Net Earnings $201.4M $116.9M $392.3M
YoY Change -58.67% -70.2% 47.37%
Net Earnings / Revenue 2.61% 1.58% 5.35%
Basic Earnings Per Share $0.65 $0.38 $1.18
Diluted Earnings Per Share $0.64 $0.37 $1.16
COMMON SHARES
Basic Shares Outstanding 310.8M shares 309.9M shares 331.9M shares
Diluted Shares Outstanding 314.3M shares 315.4M shares 337.1M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.261B $1.231B $1.657B
YoY Change 5.73% -25.7% -13.23%
Cash & Equivalents $1.261B $1.231B $1.657B
Short-Term Investments
Other Short-Term Assets $1.084B $611.1M $543.4M
YoY Change 62.06% 12.46% 70.5%
Inventory
Prepaid Expenses $352.7M $329.4M $333.7M
Receivables $5.922B $5.469B $5.073B
Other Receivables $1.202B $992.7M $1.239B
Total Short-Term Assets $9.470B $9.046B $9.334B
YoY Change 6.73% -3.08% 18.05%
LONG-TERM ASSETS
Property, Plant & Equipment $1.932B $833.3M $792.7M
YoY Change 148.11% 5.11% 2.38%
Goodwill $5.044B $4.934B $4.977B
YoY Change 5.19% -0.87% 30.81%
Intangibles $2.130B $2.153B $2.339B
YoY Change -5.61% -7.94% 70.64%
Long-Term Investments $1.307B $1.295B $1.124B
YoY Change 8.74% 15.19% 64.72%
Other Assets $1.644B $1.135B $869.7M
YoY Change 80.15% 30.46% 16.17%
Total Long-Term Assets $12.26B $11.98B $11.81B
YoY Change 6.02% 1.47% 26.41%
TOTAL ASSETS
Total Short-Term Assets $9.470B $9.046B $9.334B
Total Long-Term Assets $12.26B $11.98B $11.81B
Total Assets $21.73B $21.03B $21.14B
YoY Change 6.33% -0.53% 22.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.886B $3.008B $2.882B
YoY Change 2.15% 4.39% 16.72%
Accrued Expenses $2.622B $2.576B $2.706B
YoY Change -5.87% -4.83% 22.01%
Deferred Revenue $263.7M $262.2M $295.6M
YoY Change -6.49% -11.3% 69.5%
Short-Term Debt $1.586B $1.992B $1.413B
YoY Change 16.17% 40.96% 107.48%
Long-Term Debt Due $471.8M $433.4M $37.08M
YoY Change 1410.39% 1069.04% 2544.51%
Total Short-Term Liabilities $8.153B $8.717B $7.790B
YoY Change 6.94% 11.91% 34.94%
LONG-TERM LIABILITIES
Long-Term Debt $2.124B $1.086B $1.526B
YoY Change 41.24% -28.83% -17.43%
Other Long-Term Liabilities $2.282B $1.045B $950.2M
YoY Change 162.54% 9.95% 56.07%
Total Long-Term Liabilities $4.405B $2.131B $2.476B
YoY Change 85.68% -13.95% 0.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.153B $8.717B $7.790B
Total Long-Term Liabilities $4.405B $2.131B $2.476B
Total Liabilities $13.63B $12.39B $11.86B
YoY Change 18.11% 4.45% 23.64%
SHAREHOLDERS EQUITY
Retained Earnings $9.011B $8.810B $8.759B
YoY Change -0.81% 0.58% 28.88%
Common Stock $15.62M $3.108M $412.5M
YoY Change 384.91% -99.25% -59.43%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $8.098B $7.860B $8.470B
YoY Change
Total Liabilities & Shareholders Equity $21.73B $21.03B $21.14B
YoY Change 6.33% -0.53% 22.58%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income $201.4M $116.9M $392.3M
YoY Change -58.67% -70.2% 47.37%
Depreciation, Depletion And Amortization $154.4M $161.5M $149.0M
YoY Change -4.91% 8.36% 22.06%
Cash From Operating Activities -$10.87M -$744.8M -$393.5M
YoY Change -102.39% 89.26% 103.42%
INVESTING ACTIVITIES
Capital Expenditures $74.73M $60.28M $42.06M
YoY Change -236.7% 43.34% 42.1%
Acquisitions
YoY Change
Other Investing Activities -$179.5M -$4.074M $4.487M
YoY Change 0.49% -190.8% -28143.75%
Cash From Investing Activities -$254.3M -$115.1M -$95.62M
YoY Change 8.97% 20.34% -50.69%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $367.9M
YoY Change 501.99%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 313.7M $761.0M -$209.0M
YoY Change -156.89% -464.12% -152.0%
NET CHANGE
Cash From Operating Activities -10.87M -$744.8M -$393.5M
Cash From Investing Activities -254.3M -$115.1M -$95.62M
Cash From Financing Activities 313.7M $761.0M -$209.0M
Net Change In Cash 48.62M -$85.06M -$747.2M
YoY Change -114.72% -88.62% 1890.28%
FREE CASH FLOW
Cash From Operating Activities -$10.87M -$744.8M -$393.5M
Capital Expenditures $74.73M $60.28M $42.06M
Free Cash Flow -$85.60M -$805.0M -$435.6M
YoY Change -116.81% 84.83% 95.28%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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Basis of Presentation<div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Readers of this Quarterly Report on Form 10-Q (Quarterly Report) should refer to the audited financial statements and notes to consolidated financial statements of CBRE Group, Inc., a Delaware corporation (which may be referred to in these financial statements as “the company,” “we,” “us” and “our”), for the year ended December 31, 2022, which are included in our </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1138118/000113811823000009/cbre-20221231.htm" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">2022 Annual Report on Form 10-K (2022 Annual Report)</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> filed with the United States Securities and Exchange Commission (SEC) and also available on our website (www.cbre.com), since we have omitted from this Quarterly Report certain footnote disclosures which would substantially duplicate those contained in such audited financial statements. You should also refer to Note 2, Significant Accounting Policies, in the notes to consolidated financial statements in our </span><span style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline"><a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/1138118/000113811823000009/cbre-20221231.htm" style="color:#0000ff;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">2022 Annual Report</a></span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> for further discussion of our significant accounting policies and estimates.</span></div><div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Considerations Related to Tightening Monetary Policy </span></div><div style="margin-top:9pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The macroeconomic environment remains challenging as central banks continue to rapidly raise interest rates. The rising rate environment, coupled with certain bank failures in the first quarter of 2023, has limited credit availability to all asset classes, including commercial real estate. Less available and more expensive debt capital has had pronounced effects on our capital markets (mortgage origination and property sales) businesses, making property acquisitions and dispositions harder to finance. Similar factors also impact the timing of and proceeds generated from asset sales within our investment management and development businesses and our ability to obtain debt capital to begin new development projects.</span></div><div style="margin-top:12pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Financial Statement Preparation</span></div><div style="margin-top:9pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying consolidated financial statements have been prepared in accordance with the rules applicable to quarterly reports on Form 10-Q and include all information and footnotes required for interim financial statement presentation, but do not include all disclosures required under accounting principles generally accepted in the United States (U.S.), or General Accepted Accounting Principles (GAAP), for annual financial statements. In our opinion, all adjustments (consisting of normal recurring adjustments, except as otherwise noted) considered necessary for a fair presentation have been included. The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions about future events, such as weakening global macroeconomic conditions and stress in the banking system, including less available and more expensive debt capital. These estimates and the underlying assumptions affect the reported amounts of assets, liabilities, revenues and expenses. Such estimates include the value of goodwill, intangibles and other long-lived assets, real estate assets, accounts receivable, contract assets, operating lease assets, investments in unconsolidated subsidiaries and assumptions used in the calculation of income taxes, retirement and other post-employment benefits, among others. These estimates and assumptions are based on our best judgment. We evaluate our estimates and assumptions on an ongoing basis using historical experience and other factors, including consideration of the current economic environment, and adjust such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in these estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods.</span></div>
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CY2022Q1 us-gaap Stockholders Equity Other
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4257000 usd
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
9282825000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions about future events, such as weakening global macroeconomic conditions and stress in the banking system, including less available and more expensive debt capital. These estimates and the underlying assumptions affect the reported amounts of assets, liabilities, revenues and expenses. Such estimates include the value of goodwill, intangibles and other long-lived assets, real estate assets, accounts receivable, contract assets, operating lease assets, investments in unconsolidated subsidiaries and assumptions used in the calculation of income taxes, retirement and other post-employment benefits, among others. These estimates and assumptions are based on our best judgment. We evaluate our estimates and assumptions on an ongoing basis using historical experience and other factors, including consideration of the current economic environment, and adjust such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in these estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods.
CY2022Q4 cbre Loan Receivable Mortgage Warehouse Lending Current
LoanReceivableMortgageWarehouseLendingCurrent
455354000 usd
CY2023Q1 us-gaap Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
2494589000 usd
CY2023Q1 us-gaap Gain Loss On Sales Of Mortgage Backed Securities Mbs
GainLossOnSalesOfMortgageBackedSecuritiesMBS
6807000 usd
CY2023Q1 cbre Sale Of Mortgage Loans Held For Sale
SaleOfMortgageLoansHeldForSale
2159802000 usd
CY2023Q1 us-gaap Proceeds From Collection Of Mortgage Loans Held For Sale
ProceedsFromCollectionOfMortgageLoansHeldForSale
6807000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
2166609000 usd
CY2023Q1 cbre Net Increase Decrease In Mortgage Servicing Rights Included In Warehouse Receivables
NetIncreaseDecreaseInMortgageServicingRightsIncludedInWarehouseReceivables
2153000 usd
CY2023Q1 us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
100700000 usd
CY2023Q1 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Planned Sale Investments Not Identified Value
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerSharePlannedSaleInvestmentsNotIdentifiedValue
359900000 usd
CY2022Q4 us-gaap Fair Value Investments Entities That Calculate Net Asset Value Per Share Planned Sale Investments Not Identified Value
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerSharePlannedSaleInvestmentsNotIdentifiedValue
353000000 usd
CY2022Q4 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
14452000 usd
CY2023Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Out Of Level3
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersOutOfLevel3
0 usd
CY2023Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Gain Loss Included In Earnings
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationGainLossIncludedInEarnings
-3400000 usd
CY2023Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Purchases
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationPurchases
2593000 usd
CY2023Q1 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis With Unobservable Inputs
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisWithUnobservableInputs
20445000 usd
CY2023Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2022Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
10400000 usd
CY2022Q4 us-gaap Assets Designated To Closed Block Trading Securities Debt
AssetsDesignatedToClosedBlockTradingSecuritiesDebt
10000000 usd
CY2023Q1 cbre Notes Payable On Real Estate
NotesPayableOnRealEstate
55900000 usd
CY2022Q4 cbre Notes Payable On Real Estate
NotesPayableOnRealEstate
52700000 usd
CY2023Q1 us-gaap Equity Method Investments
EquityMethodInvestments
1295088000 usd
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
1317705000 usd
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1525585000 usd
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1519642000 usd
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
433433000 usd
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
427792000 usd
CY2023Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
5884000 usd
CY2022Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
6138000 usd
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1086268000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1085712000 usd
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
980741000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1033011000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
90509000 usd
CY2022Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
91028000 usd
CY2023Q1 cbre Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
1071250000 usd
CY2022Q4 cbre Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
1124039000 usd
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
232369000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
229591000 usd
CY2023Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
33984000 usd
CY2022Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
33039000 usd
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1052823000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1080385000 usd
CY2023Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
57124000 usd
CY2022Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
58094000 usd
CY2023Q1 cbre Operating And Financing Lease Liability
OperatingAndFinancingLeaseLiability
1376300000 usd
CY2022Q4 cbre Operating And Financing Lease Liability
OperatingAndFinancingLeaseLiability
1401109000 usd
CY2023Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
215200000 usd
CY2023Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
215200000 usd
CY2023Q1 cbre Guarantor Obligations Maximum Exposure Undiscounted
GuarantorObligationsMaximumExposureUndiscounted
388900000 usd
CY2023Q1 cbre Guarantor Obligations Maximum Exposure Undiscounted
GuarantorObligationsMaximumExposureUndiscounted
388900000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
39998000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
14784000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
8004000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
9415000 usd
CY2023Q1 cbre Other Noncash Increases Decreases In Operating Lease Right Of Use Assets
OtherNoncashIncreasesDecreasesInOperatingLeaseRightOfUseAssets
-52701000 usd
CY2022Q1 cbre Other Noncash Increases Decreases In Operating Lease Right Of Use Assets
OtherNoncashIncreasesDecreasesInOperatingLeaseRightOfUseAssets
25346000 usd
CY2023Q1 cbre Other Noncash Increases Decreases In Finance Lease Right Of Use Assets
OtherNoncashIncreasesDecreasesInFinanceLeaseRightOfUseAssets
151000 usd
CY2022Q1 cbre Other Noncash Increases Decreases In Finance Lease Right Of Use Assets
OtherNoncashIncreasesDecreasesInFinanceLeaseRightOfUseAssets
-989000 usd
CY2023Q1 cbre Funded Loan Principal Amount Outstanding
FundedLoanPrincipalAmountOutstanding
39500000000 usd
CY2023Q1 cbre Loan Loss Sharing Reserve
LoanLossSharingReserve
66200000 usd
CY2022Q4 cbre Loan Loss Sharing Reserve
LoanLossSharingReserve
65100000 usd
CY2023Q1 cbre Assets Available For Recourse
AssetsAvailableForRecourse
894600000 usd
CY2023Q1 cbre Investment Funds Maximum Equity In Real Estate Investment Percent
InvestmentFundsMaximumEquityInRealEstateInvestmentPercent
0.020
CY2023Q1 cbre Commitments To Investment In Future Real Estate Investment
CommitmentsToInvestmentInFutureRealEstateInvestment
93100000 usd
CY2023Q1 cbre Real Estate Investments Maximum Equity In Real Estate Investment Percent
RealEstateInvestmentsMaximumEquityInRealEstateInvestmentPercent
0.50
CY2023Q1 cbre Other Commitment Capital Investment In Consolidated Projects
OtherCommitmentCapitalInvestmentInConsolidatedProjects
135300000 usd
CY2023Q1 cbre Other Commitment Capital Investment In Unconsolidated Entity
OtherCommitmentCapitalInvestmentInUnconsolidatedEntity
96700000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
28000000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3700000 usd
CY2023Q1 us-gaap Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
31800000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.183
CY2022Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.010
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
399700000 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
391400000 usd
CY2023Q1 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
8300000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
116892000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
392297000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
310464609 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
331925104 shares
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.38
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.18
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
116892000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
392297000 usd
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
310464609 shares
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
331925104 shares
CY2023Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
4893538 shares
CY2022Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
5215221 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
315358147 shares
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
337140325 shares
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.37
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.16
CY2023Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
2000000000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7302479000 usd
CY2023Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
108635000 usd
CY2023Q1 us-gaap Revenues
Revenues
7411114000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7168411000 usd
CY2022Q1 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
164522000 usd
CY2022Q1 us-gaap Revenues
Revenues
7332933000 usd
CY2023Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
522700000 usd
CY2023Q1 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
384000000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
529100000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
391600000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
268800000 usd
CY2023Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
262200000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
284300000 usd
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
276300000 usd
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-183200000 usd
CY2023Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2023Q1 us-gaap Revenues
Revenues
7411114000 usd
CY2022Q1 us-gaap Revenues
Revenues
7332933000 usd
CY2023Q1 cbre Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
630886000 usd
CY2022Q1 cbre Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
835442000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
116892000 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
392297000 usd
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
8180000 usd
CY2022Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
3974000 usd
CY2023Q1 us-gaap Profit Loss
ProfitLoss
125072000 usd
CY2022Q1 us-gaap Profit Loss
ProfitLoss
396271000 usd
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
161491000 usd
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
149032000 usd
CY2023Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2022Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
10351000 usd
CY2023Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-28414000 usd
CY2022Q1 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-12826000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
28036000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3738000 usd
CY2023Q1 cbre Carried Interest Incentive Compensation Expense Reversal
CarriedInterestIncentiveCompensationExpenseReversal
6978000 usd
CY2022Q1 cbre Carried Interest Incentive Compensation Expense Reversal
CarriedInterestIncentiveCompensationExpenseReversal
22856000 usd
CY2023Q1 cbre Impact Of Fair Value Adjustments To Assets Acquired In Business
ImpactOfFairValueAdjustmentsToAssetsAcquiredInBusiness
0 usd
CY2022Q1 cbre Impact Of Fair Value Adjustments To Assets Acquired In Business
ImpactOfFairValueAdjustmentsToAssetsAcquiredInBusiness
-1696000 usd
CY2023Q1 us-gaap Restructuring Costs
RestructuringCosts
0 usd
CY2022Q1 us-gaap Restructuring Costs
RestructuringCosts
1676000 usd
CY2023Q1 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
18134000 usd
CY2022Q1 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
8121000 usd
CY2023Q1 cbre Costs Associated With Efficiency And Cost Reduction Initiatives
CostsAssociatedWithEfficiencyAndCostReductionInitiatives
138247000 usd
CY2022Q1 cbre Costs Associated With Efficiency And Cost Reduction Initiatives
CostsAssociatedWithEfficiencyAndCostReductionInitiatives
0 usd
CY2023Q1 cbre Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
630886000 usd
CY2022Q1 cbre Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
835442000 usd
CY2023Q1 us-gaap Revenues
Revenues
7411114000 usd
CY2022Q1 us-gaap Revenues
Revenues
7332933000 usd
CY2023Q1 us-gaap Restructuring Charges
RestructuringCharges
138200000 usd

Files In Submission

Name View Source Status
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FilingSummary.xml Edgar Link unprocessable
cbre-20230331_cal.xml Edgar Link unprocessable
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