$CBRE
CBRE GROUP, INC.

2017 Q1 Form 10-Q Financial Statement

#000156459017010115 Filed on May 10, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $4.051B $2.847B
YoY Change 42.3% 38.7%
Cost Of Revenue $3.147B $12.40M
YoY Change 25268.86% -99.04%
Gross Profit $904.5M $2.834B
YoY Change -68.09% 272.09%
Gross Profit Margin 22.33% 99.56%
Selling, General & Admin $606.6M $643.4M
YoY Change -5.72% 20.99%
% of Gross Profit 67.06% 22.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $94.00M $87.00M
YoY Change 8.05% 24.64%
% of Gross Profit 10.39% 3.07%
Operating Expenses $606.2M $643.4M
YoY Change -5.77% 20.98%
Operating Profit $205.2M $107.6M
YoY Change 90.75% -32.81%
Interest Expense $34.01M $34.79M
YoY Change -2.24% 32.72%
% of Operating Profit 16.57% 32.34%
Other Income/Expense, Net $4.115M $3.215M
YoY Change 27.99% 195.77%
Pretax Income $192.7M $134.8M
YoY Change 43.02% -10.18%
Income Tax $53.82M $50.13M
% Of Pretax Income 27.92% 37.19%
Net Earnings $137.0M $82.17M
YoY Change 66.76% -11.59%
Net Earnings / Revenue 3.38% 2.89%
Basic Earnings Per Share $0.41 $0.25
Diluted Earnings Per Share $0.40 $0.24
COMMON SHARES
Basic Shares Outstanding 336.9M 334.0M
Diluted Shares Outstanding 339.7M 337.5M

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $533.0M $489.0M
YoY Change 9.0% 10.14%
Cash & Equivalents $592.3M $489.2M
Short-Term Investments
Other Short-Term Assets $472.0M $212.7M
YoY Change 121.88% 106.07%
Inventory
Prepaid Expenses $178.9M
Receivables $2.499B $2.345B
Other Receivables $741.0M $798.0M
Total Short-Term Assets $4.245B $4.087B
YoY Change 3.87% 13.72%
LONG-TERM ASSETS
Property, Plant & Equipment $552.0M $528.4M
YoY Change 4.48% 10.13%
Goodwill $3.134B
YoY Change 38.24%
Intangibles $1.416B
YoY Change 79.51%
Long-Term Investments $242.0M $220.5M
YoY Change 9.73% -16.78%
Other Assets $465.0M $321.6M
YoY Change 44.57% 70.89%
Total Long-Term Assets $5.682B $5.748B
YoY Change -1.15% 42.57%
TOTAL ASSETS
Total Short-Term Assets $4.245B $4.087B
Total Long-Term Assets $5.682B $5.748B
Total Assets $9.927B $9.835B
YoY Change 0.93% 28.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.321B $1.351B
YoY Change -2.22% 92.45%
Accrued Expenses $1.188B $1.201B
YoY Change -1.08% 20.95%
Deferred Revenue
YoY Change
Short-Term Debt $791.0M $994.4M
YoY Change -20.45% -15.44%
Long-Term Debt Due $0.00 $40.06M
YoY Change -100.0% 161.91%
Total Short-Term Liabilities $3.473B $3.696B
YoY Change -6.04% 24.33%
LONG-TERM LIABILITIES
Long-Term Debt $2.549B $2.635B
YoY Change -3.27% 53.71%
Other Long-Term Liabilities $568.0M $460.6M
YoY Change 23.31% 41.41%
Total Long-Term Liabilities $3.117B $3.096B
YoY Change 0.69% 51.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.473B $3.696B
Total Long-Term Liabilities $3.117B $3.096B
Total Liabilities $6.715B $6.968B
YoY Change -3.64% 30.97%
SHAREHOLDERS EQUITY
Retained Earnings $2.787B $2.170B
YoY Change 28.39% 32.82%
Common Stock $1.163B $1.119B
YoY Change 3.94% 5.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.212B $2.818B
YoY Change
Total Liabilities & Shareholders Equity $9.927B $9.835B
YoY Change 0.94% 28.97%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $137.0M $82.17M
YoY Change 66.76% -11.59%
Depreciation, Depletion And Amortization $94.00M $87.00M
YoY Change 8.05% 24.64%
Cash From Operating Activities -$321.4M -$328.6M
YoY Change -2.19% 82.66%
INVESTING ACTIVITIES
Capital Expenditures $23.74M $33.47M
YoY Change -29.08% 79.67%
Acquisitions $21.90M
YoY Change -70.81%
Other Investing Activities -$1.080M $2.303M
YoY Change -146.9% 638.14%
Cash From Investing Activities -$43.30M $1.300M
YoY Change -3430.77% -101.22%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 109.4M 272.3M
YoY Change -59.82% -550.57%
NET CHANGE
Cash From Operating Activities -321.4M -328.6M
Cash From Investing Activities -43.30M 1.300M
Cash From Financing Activities 109.4M 272.3M
Net Change In Cash -239.1M -55.00M
YoY Change 334.7% -67.12%
FREE CASH FLOW
Cash From Operating Activities -$321.4M -$328.6M
Capital Expenditures $23.74M $33.47M
Free Cash Flow -$345.1M -$362.1M
YoY Change -4.68% 82.38%

Facts In Submission

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CY2017Q1 cbg Minority Interest Increase From Contributions From Noncontrolling Interest Holders
MinorityInterestIncreaseFromContributionsFromNoncontrollingInterestHolders
1574000
CY2017Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
744000
CY2017Q1 us-gaap Stockholders Equity Other
StockholdersEquityOther
-1336000
CY2017Q1 us-gaap Basis Of Accounting
BasisOfAccounting
<div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:5.24%;white-space:nowrap"> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td> <td valign="top"> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">Basis of Presentation</p></td></tr></table></div> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 &#8220;company,&#8221; &#8220;we,&#8221; &#8220;us&#8221; and &#8220;our&#8221;), for the year ended December 31, 2016, which are included in our 2016 Annual Report on Form 10-K (2016 Annual Report), filed with the United States Securities and Exchange Commission (SEC) and also available on our website (<font style="text-decoration:underline;">www.cbre.com</font>), since we have omitted from this Quarterly Report certain footnote disclosures which would substantially duplicate those contained in such audited financial statements.&nbsp;&nbsp;You should also refer to Note 2, Significant Accounting Policies, in the notes to consolidated financial statements in our 2016 Annual Report for further discussion of our significant accounting policies and estimates.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 (GAAP) for annual financial statements.&nbsp;&nbsp;In our opinion, all adjustments (consisting of normal recurring adjustments, except as otherwise noted) considered necessary for a fair presentation have been included.&nbsp;&nbsp;The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions about future events.&nbsp;&nbsp;These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, and reported amounts of revenue and expenses.&nbsp;&nbsp;Such estimates include the value of goodwill, intangibles and other long-lived assets, real estate assets, accounts receivable, investments in unconsolidated subsidiaries and assumptions used in the calculation of income taxes, retirement and other post-employment benefits, among others.&nbsp;&nbsp;These estimates and assumptions are based on our best judgment.&nbsp;&nbsp;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.&nbsp;&nbsp;As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates.&nbsp;&nbsp;Changes in these estimates resulting from continuing changes in the economic environment will be reflected in the financial statements in future periods.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The results of operations for the three months ended March 31, 2017 are not necessarily indicative of the results of operations to be expected for the year ending December 31, 2017.</p></div>
CY2017Q1 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div> <div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:5.24%;white-space:nowrap"> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2.</font></p></td> <td valign="top"> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;">New Accounting Pronouncements</p></td></tr></table></div> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;margin-left:5.24%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Recently Adopted Accounting Pronouncements</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-05, <font style="font-style:italic;">&#8220;Derivatives and Hedging (Topic 815): Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships.&#8221;</font>&nbsp;&nbsp;This ASU clarifies that a change in one of the parties to a derivative contract (through novation) that is part of a hedge accounting relationship does not, by itself, require designation of that relationship, as long as all other hedge accounting criteria continue to be met.&nbsp;&nbsp;This ASU is effective for annual and interim periods in fiscal years beginning after December 15, 2016, with early adoption permitted.&nbsp;&nbsp;The adoption of this ASU did not have a material impact on our consolidated financial statements and related disclosures.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In March 2016, the FASB issued ASU 2016-07, <font style="font-style:italic;">&#8220;Investments&#8212;Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting.&#8221;</font>&nbsp;&nbsp;This ASU eliminates the requirement for an investor to retroactively apply the equity method when its increase in ownership interest (or degree of influence) in an investee triggers equity method accounting.&nbsp;&nbsp;ASU 2016-07 should be applied prospectively upon its effective date to increases in the level of ownership interest or degree of influence that result in the adoption of the equity method.&nbsp;&nbsp;This ASU is effective for all entities for interim and annual periods in fiscal years beginning after December 15, 2016, with early application permitted.&nbsp;&nbsp;The adoption of this ASU did not have a material impact on our consolidated financial statements and related disclosures.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In October 2016, the FASB issued ASU 2016-17, <font style="font-style:italic;">&#8220;Consolidation (Topic 810): Interests Held through Related Parties That Are under Common Control.&#8221;</font>&nbsp;&nbsp;This ASU changes the evaluation of whether a reporting entity is the primary beneficiary of a variable interest entity by changing how a reporting entity that is a single decision maker of a variable interest entity treats indirect interests in the entity held through related parties that are under common control with the reporting entity.&nbsp;&nbsp;This ASU is effective for fiscal years beginning after December 15, 2016, and interim periods within those years, with early adoption permitted.&nbsp;&nbsp;The adoption of this ASU did not have a material impact on our consolidated financial statements and related disclosures.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In December 2016, the FASB issued ASU 2016-19, <font style="font-style:italic;">&#8220;Technical Corrections and Improvements.&#8221;</font>&nbsp;&nbsp;This ASU amends a number of Topics in the FASB Accounting Standards Codification (ASC). The ASU is part of an ongoing FASB project to facilitate Codification updates for non-substantive technical corrections, clarifications, and improvements that are not expected to have a significant effect on accounting practice or create a significant administrative cost to most entities. This ASU is effective for fiscal years beginning after December 15, 2016, and interim periods within those years, with early adoption permitted.&nbsp;&nbsp;The adoption of this ASU did not have a material impact on our consolidated financial statements and related disclosures.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In January 2017, the FASB issued ASU 2017-01, <font style="font-style:italic;">&#8220;Business Combinations (Topic 805): Clarifying the Definition of a Business.&#8221;</font>&nbsp;&nbsp;This ASU clarifies the definition of a business, affecting all companies and other reporting organizations that must determine whether they have acquired or sold a business.&nbsp;&nbsp;This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those years, with early adoption permitted.&nbsp;&nbsp;We elected to early adopt the provisions of ASU 2017-01 during the first quarter of 2017.&nbsp;&nbsp;The adoption of this ASU did not have a material impact on our consolidated financial statements and related disclosures.</p> <p style="text-align:justify;margin-top:18pt;margin-bottom:0pt;margin-left:5.24%;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Recent Accounting Pronouncements Pending Adoption</p> <p style="text-align:justify;margin-top:6pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The FASB has recently issued five ASUs related to revenue recognition (&#8220;new revenue recognition guidance&#8221;), all of which will become effective for the company on January 1, 2018.&#160; The ASUs issued are: (1) in May 2014, ASU 2014-09, <font style="font-style:italic;">&#8220;Revenue from Contracts with Customers (Topic 606);&#8221; </font>(2) i<font style="color:#000000;">n March 2016, ASU 2016-08, </font><font style="font-style:italic;color:#000000;">&#8220;Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net);&#8221; </font><font style="color:#000000;">(3) in</font> April 2016, ASU 2016-10, <font style="font-style:italic;">&#8220;</font><font style="font-style:italic;color:#000000;">Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing;&#8221; </font><font style="color:#000000;">(4) in</font> May 2016, ASU 2016-12, <font style="font-style:italic;">&#8220;</font><font style="font-style:italic;color:#000000;">Revenue from Contracts with Customers (Topic 606): Narrow-scope Improvements and Practical Expedients;&#8221; </font><font style="color:#000000;">and (5) in December 2016, ASU 2016-20, </font><font style="font-style:italic;color:#000000;">&#8220;Technical Corrections and Improvements to Topic 606, Revenue From Contracts with Customers.&#8221;&#160; </font>ASU 2014-09 requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers and will replace most existing revenue recognition guidance under GAAP.&#160; This ASU permits the use of either the retrospective or cumulative effect transition method.&#160; <font style="color:#000000;">ASU 2016-08 clarifies the implementation guidance on principal versus agent considerations.&#160; </font>ASU 2016-10<font style="color:#000000;"> clarifies guidance related to identifying performance obligations and licensing implementation guidance contained in ASU 2014-09.&#160; </font>ASU 2016-12<font style="color:#000000;"> clarifies guidance in certain narrow areas and adds some practical expedients.&#160; </font>ASU 2016-20 also clarifies guidance in certain narrow areas and adds optional exemptions to certain disclosure requirements. </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We plan to adopt the new revenue recognition guidance in the first quarter of 2018 and are evaluating the application of a transition method. We continue to evaluate the impact that adoption of these updates will have on our consolidated financial statements and related disclosures. Based on our initial assessment, the impact of the application of the new revenue recognition guidance will likely result in an acceleration of some revenues that are based, in part, on future contingent events. For example, some brokerage revenues from leasing commissions in various countries where we operate will get recognized earlier. Under current GAAP, a portion of these commissions are deferred until a future contingency is resolved (e.g. tenant move-in or payment of first month&#8217;s rent). Under the new revenue guidance, CBRE&#8217;s performance obligation will be typically satisfied at lease signing and therefore the portion of the commission that is contingent on a future event will likely be recognized earlier if deemed not subject to significant reversal. We are currently evaluating the impact of principal versus agent guidance in relation to third-party costs which are billed to clients in association with facilities management services and the impact on our consolidated financial statements.&#160; </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In January 2016, the FASB issued ASU 2016-01, <font style="font-style:italic;">&#8220;Financial Instruments &#8211; Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities.&#8221;</font>&nbsp;&nbsp;This ASU will significantly change the income statement impact of equity investments and the recognition of changes in fair value of financial liabilities when the fair value option is elected.&nbsp;&nbsp;This ASU is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017.&nbsp;&nbsp;Early adoption is not permitted, except for the provisions related to the recognition of changes in fair value of financial liabilities when the fair value option is elected.&nbsp;&nbsp;We do not believe the adoption of ASU 2016-01 will have a material impact on our consolidated financial statements and related disclosures.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In February 2016, the FASB issued ASU 2016-02, &#8220;<font style="font-style:italic;">Leases (Topic 842)</font>.&#8221;&#160; This ASU requires lessees to recognize most leases on the balance sheet as liabilities, with corresponding right-of-use assets.&#160; For income statement recognition purposes, leases will be classified as either a finance or operating lease in a manner similar to the requirements under the current lease accounting literature, but without relying upon the bright-line tests.&#160; This ASU is effective for annual periods in fiscal years beginning after December 15, 2018 and mandates a modified retrospective transition method for all entities.&#160; We plan to adopt ASU 2016-02 in the first quarter of 2019 and are currently evaluating the magnitude of its impact on our consolidated financial statements by reviewing our existing lease contracts and service contracts that may include embedded leases. </p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In June 2016, the FASB issued ASU 2016-13, <font style="font-style:italic;">&#8220;Financial Instruments &#8211; Credit Losses (Topic 326):&nbsp;&nbsp;Measurement of Credit Losses on Financial Instruments.&#8221;</font>&nbsp;&nbsp;This ASU is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. This ASU is effective for fiscal years beginning after December 15, 2019, and interim periods within those years, with early adoption permitted.&nbsp;&nbsp;We are evaluating the effect that ASU 2016-13 will have on our consolidated financial statements and related disclosures.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In August 2016, the FASB issued ASU 2016-15, <font style="font-style:italic;">&#8220;Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.&#8221;</font>&nbsp;&nbsp;This ASU addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice.&nbsp;&nbsp;This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those years, with early adoption permitted.&nbsp;&nbsp;We are evaluating the effect that ASU 2016-15 will have on our consolidated financial statements and related disclosures.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In October 2016, the FASB issued ASU 2016-16, <font style="font-style:italic;">&#8220;Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory.&#8221;</font>&nbsp;&nbsp;This ASU requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs.&nbsp;&nbsp;This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those years, with early adoption permitted.&nbsp;&nbsp;At this point in time, we do not believe the adoption of ASU 2016-16 will have a material impact on our consolidated financial statements and related disclosures.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In November 2016, the FASB issued ASU 2016-18, <font style="font-style:italic;">&#8220;Statement of Cash Flows (Topic 230): Restricted Cash.&#8221;</font>&nbsp;&nbsp;This ASU requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. As a result, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows.&nbsp;&nbsp;This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those years, with early adoption permitted.&nbsp;&nbsp;We do not believe the adoption of ASU 2016-18 will have a material impact on our consolidated financial statements and related disclosures.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In January 2017, the FASB issued ASU 2017-04, <font style="font-style:italic;">&#8220;Intangibles &#8211; Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.&#8221;</font>&nbsp;&nbsp;This ASU eliminates Step 2 from the goodwill impairment test. This ASU also eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test.&nbsp;&nbsp;This ASU is effective for fiscal years beginning after December 15, 2019, and interim periods within those years, with early adoption permitted.&nbsp;&nbsp;We are evaluating the effect that ASU 2017-04 will have on our goodwill assessment process, but do not believe the adoption of ASU 2017-04 will have a material impact on our consolidated financial statements and related disclosures.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In February 2017, the FASB issued ASU 2017-05, <font style="font-style:italic;">&#8220;Other Income &#8211; Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets.&#8221;</font>&nbsp;&nbsp;This ASU clarifies that a financial asset is within the scope of Subtopic 610-20 if it meets the definition of an in substance nonfinancial asset and also defines the term in substance nonfinancial asset.&nbsp;&nbsp;This ASU is effective for fiscal years beginning after December 15, 2017, and interim periods within those years.&nbsp;&nbsp;We are evaluating the effect that ASU 2017-05 will have on our consolidated financial statements and related disclosures.</p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:5.24%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In March 2017, the FASB issued ASU 2017-08, <font style="font-style:italic;">&#8220;Receivables &#8211; Nonrefundable Fees and Other Costs (Subtopic 310-20), Premium Amortization on Purchased Callable Debt Securities.&#8221;</font>&nbsp;&nbsp;This ASU requires the premium to be amortized to the earliest call date. This ASU does not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity.&nbsp;&nbsp;This ASU is effective for fiscal years beginning after December 15, 2018, and interim periods within those years, with early adoption permitted.&nbsp;&nbsp;We are evaluating the effect that ASU 2017-08 will have on our consolidated financial statements and related disclosures.</p></div>
CY2017Q1 us-gaap Liabilities Fair Value Disclosure Nonrecurring
LiabilitiesFairValueDisclosureNonrecurring
0
CY2017Q1 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
314535000
CY2017Q1 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2016Q1 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2017Q1 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2016Q1 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2017Q1 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2016Q1 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2017Q1 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2016Q1 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2017Q1 us-gaap Assets Fair Value Disclosure Nonrecurring
AssetsFairValueDisclosureNonrecurring
0
CY2016Q1 us-gaap Assets Fair Value Disclosure Nonrecurring
AssetsFairValueDisclosureNonrecurring
0
CY2016Q1 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
273512000
CY2017Q1 cbg Equity Method Investment Summarized Financial Information Operating Profit Loss
EquityMethodInvestmentSummarizedFinancialInformationOperatingProfitLoss
38218000
CY2016Q1 cbg Equity Method Investment Summarized Financial Information Operating Profit Loss
EquityMethodInvestmentSummarizedFinancialInformationOperatingProfitLoss
127715000
CY2017Q1 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
22335000
CY2016Q1 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
102780000
CY2017Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2574344000
CY2016Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
2574301000
CY2017Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
25074000
CY2016Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
26164000
CY2017Q1 cbg Minimum Coverage Ratio Of Earnings Before Interest Tax Depreciation And Amortization To Interest Expense Expressed In Percentage
MinimumCoverageRatioOfEarningsBeforeInterestTaxDepreciationAndAmortizationToInterestExpenseExpressedInPercentage
2.00
CY2017Q1 cbg Maximum Leverage Ratio Of Debt To Earnings Before Interest Tax Depreciation And Amortization Expressed In Percentage
MaximumLeverageRatioOfDebtToEarningsBeforeInterestTaxDepreciationAndAmortizationExpressedInPercentage
4.25
CY2017Q1 cbg Coverage Ratio Of Earnings Before Interest Tax Depreciation And Amortization To Interest Expense Expressed In Percentage
CoverageRatioOfEarningsBeforeInterestTaxDepreciationAndAmortizationToInterestExpenseExpressedInPercentage
13.08
CY2017Q1 cbg Leverage Ratio Of Debt To Earnings Before Interest Tax Depreciation And Amortization Expressed In Percentage
LeverageRatioOfDebtToEarningsBeforeInterestTaxDepreciationAndAmortizationExpressedInPercentage
1.35
CY2017Q1 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage
LoansReceivableHeldForSaleNetNotPartOfDisposalGroupMortgage
685100000
CY2016Q4 us-gaap Loans Receivable Held For Sale Net Not Part Of Disposal Group Mortgage
LoansReceivableHeldForSaleNetNotPartOfDisposalGroupMortgage
1300000000
CY2017Q1 cbg Loan Loss Sharing Reserve
LoanLossSharingReserve
29600000
CY2016Q4 cbg Loan Loss Sharing Reserve
LoanLossSharingReserve
28200000
CY2017Q1 cbg Assets Available For Recourse
AssetsAvailableForRecourse
552900000
CY2017Q1 us-gaap Loans Receivable Mortgage Warehouse Lending
LoansReceivableMortgageWarehouseLending
334600000
CY2017Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
59000000
CY2017Q1 cbg Line Of Credit Facility Latest Expiration Date
LineOfCreditFacilityLatestExpirationDate
2018-04
CY2017Q1 cbg Guarantor Obligations Maximum Exposure Undiscounted
GuarantorObligationsMaximumExposureUndiscounted
56200000
CY2017Q1 cbg Commitments To Investment In Future Real Estate Investment
CommitmentsToInvestmentInFutureRealEstateInvestment
24200000
CY2017Q1 cbg Commitments To Investment In Unconsolidated Entity
CommitmentsToInvestmentInUnconsolidatedEntity
23400000
CY2017Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
2774785
CY2016Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
3469041
CY2017Q1 cbg Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
7958
CY2016Q1 cbg Incremental Common Shares Attributable To Stock Options
IncrementalCommonSharesAttributableToStockOptions
44256
CY2017Q1 cbg Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
303208000
CY2016Q1 cbg Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
282683000
CY2017Q1 cbg Interest Income
InterestIncome
2411000
CY2016Q1 cbg Interest Income
InterestIncome
1459000
CY2017Q1 cbg Income Loss Before Net Interest Expense Write Off Of Financing Costs Income Taxes Depreciation And Amortization
IncomeLossBeforeNetInterestExpenseWriteOffOfFinancingCostsIncomeTaxesDepreciationAndAmortization
306506000
CY2016Q1 cbg Income Loss Before Net Interest Expense Write Off Of Financing Costs Income Taxes Depreciation And Amortization
IncomeLossBeforeNetInterestExpenseWriteOffOfFinancingCostsIncomeTaxesDepreciationAndAmortization
252617000
CY2017Q1 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
11943000
CY2016Q1 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
17173000
CY2016Q1 us-gaap Cost Of Revenue
CostOfRevenue
12403000
CY2017Q1 cbg Carried Interest Incentive Compensation Reversal Expense
CarriedInterestIncentiveCompensationReversalExpense
-15241000
CY2016Q1 cbg Carried Interest Incentive Compensation Reversal Expense
CarriedInterestIncentiveCompensationReversalExpense
490000
CY2016Q1 us-gaap Severance Costs1
SeveranceCosts1
11800000
CY2016Q1 cbg Contract Termination Costs
ContractTerminationCosts
600000
CY2017Q1 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
242486000
CY2017Q1 cbg Long Term Debt Excluding Loans Payable
LongTermDebtExcludingLoansPayable
2549258000
CY2016Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
232238000
CY2016Q4 cbg Long Term Debt Excluding Loans Payable
LongTermDebtExcludingLoansPayable
2548126000

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