2020 Q2 Form 10-Q Financial Statement
#000156459020035965 Filed on August 04, 2020
Income Statement
| Concept | 2020 Q2 | 2019 Q2 |
|---|---|---|
| Revenue | $5.381B | $5.714B |
| YoY Change | -5.82% | 11.79% |
| Cost Of Revenue | $4.400B | $4.446B |
| YoY Change | -1.04% | 12.3% |
| Gross Profit | $981.8M | $1.268B |
| YoY Change | -22.58% | 10.03% |
| Gross Profit Margin | 18.25% | 22.2% |
| Selling, General & Admin | $740.6M | $881.2M |
| YoY Change | -15.96% | 6.64% |
| % of Gross Profit | 75.43% | 69.48% |
| Research & Development | ||
| YoY Change | ||
| % of Gross Profit | ||
| Depreciation & Amortization | $116.4M | $106.5M |
| YoY Change | 9.3% | -6.08% |
| % of Gross Profit | 11.86% | 8.4% |
| Operating Expenses | $857.0M | $877.4M |
| YoY Change | -2.32% | 6.19% |
| Operating Profit | $94.17M | $284.4M |
| YoY Change | -66.89% | 26.23% |
| Interest Expense | $1.500M | -$2.800M |
| YoY Change | -153.57% | -110.41% |
| % of Operating Profit | 1.59% | -0.98% |
| Other Income/Expense, Net | $5.220M | $4.369M |
| YoY Change | 19.48% | 8.98% |
| Pretax Income | $100.9M | $286.0M |
| YoY Change | -64.71% | -4.66% |
| Income Tax | $18.80M | $62.52M |
| % Of Pretax Income | 18.63% | 21.86% |
| Net Earnings | $81.90M | $223.7M |
| YoY Change | -63.39% | -2.16% |
| Net Earnings / Revenue | 1.52% | 3.92% |
| Basic Earnings Per Share | $0.24 | $0.67 |
| Diluted Earnings Per Share | $0.24 | $0.66 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 335.1M shares | 336.2M shares |
| Diluted Shares Outstanding | 337.4M shares | 340.5M shares |
Balance Sheet
| Concept | 2020 Q2 | 2019 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $1.214B | $536.0M |
| YoY Change | 126.49% | 0.94% |
| Cash & Equivalents | $1.314B | $535.6M |
| Short-Term Investments | ||
| Other Short-Term Assets | $684.0M | $237.8M |
| YoY Change | 187.64% | -10.36% |
| Inventory | ||
| Prepaid Expenses | $290.3M | |
| Receivables | $4.424B | $4.001B |
| Other Receivables | $868.0M | $1.420B |
| Total Short-Term Assets | $7.189B | $6.885B |
| YoY Change | 4.41% | 12.75% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $1.986B | $746.5M |
| YoY Change | 166.05% | 5.81% |
| Goodwill | $3.664B | |
| YoY Change | 7.53% | |
| Intangibles | $1.331B | |
| YoY Change | -8.08% | |
| Long-Term Investments | $386.0M | $307.3M |
| YoY Change | 25.61% | 31.39% |
| Other Assets | $888.0M | $752.8M |
| YoY Change | 17.96% | 40.44% |
| Total Long-Term Assets | $8.511B | $7.834B |
| YoY Change | 8.64% | 21.86% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $7.189B | $6.885B |
| Total Long-Term Assets | $8.511B | $7.834B |
| Total Assets | $15.70B | $14.72B |
| YoY Change | 6.66% | 17.42% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $2.329B | $2.064B |
| YoY Change | 12.84% | 25.7% |
| Accrued Expenses | $1.932B | $1.965B |
| YoY Change | -1.68% | 31.0% |
| Deferred Revenue | $128.4M | $109.5M |
| YoY Change | 17.25% | 43.69% |
| Short-Term Debt | $1.210B | $1.580B |
| YoY Change | -23.42% | -23.66% |
| Long-Term Debt Due | $1.540M | $2.258M |
| YoY Change | -31.8% | 54.02% |
| Total Short-Term Liabilities | $5.853B | $5.887B |
| YoY Change | -0.59% | 9.41% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $1.763B | $1.767B |
| YoY Change | -0.2% | 0.21% |
| Other Long-Term Liabilities | $1.664B | $447.8M |
| YoY Change | 271.61% | -18.21% |
| Total Long-Term Liabilities | $1.763B | $2.214B |
| YoY Change | -20.38% | -4.15% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $5.853B | $5.887B |
| Total Long-Term Liabilities | $1.763B | $2.214B |
| Total Liabilities | $9.456B | $9.329B |
| YoY Change | 1.37% | 16.34% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | $4.899B | |
| YoY Change | 28.23% | |
| Common Stock | $1.165B | |
| YoY Change | -9.07% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | ||
| YoY Change | ||
| Treasury Stock Shares | ||
| Shareholders Equity | $6.244B | $5.347B |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $15.70B | $14.72B |
| YoY Change | 6.66% | 17.42% |
Cashflow Statement
| Concept | 2020 Q2 | 2019 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | $81.90M | $223.7M |
| YoY Change | -63.39% | -2.16% |
| Depreciation, Depletion And Amortization | $116.4M | $106.5M |
| YoY Change | 9.3% | -6.08% |
| Cash From Operating Activities | $134.9M | $99.30M |
| YoY Change | 35.85% | -37.11% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | -$71.90M | -$67.20M |
| YoY Change | 6.99% | 10.53% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $28.20M | -$6.900M |
| YoY Change | -508.7% | -97.26% |
| Cash From Investing Activities | -$43.70M | -$74.20M |
| YoY Change | -41.11% | -76.25% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | ||
| YoY Change | ||
| Cash From Financing Activities | 478.4M | -114.0M |
| YoY Change | -519.65% | -234.59% |
| NET CHANGE | ||
| Cash From Operating Activities | 134.9M | 99.30M |
| Cash From Investing Activities | -43.70M | -74.20M |
| Cash From Financing Activities | 478.4M | -114.0M |
| Net Change In Cash | 569.6M | -88.90M |
| YoY Change | -740.72% | 27.36% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | $134.9M | $99.30M |
| Capital Expenditures | -$71.90M | -$67.20M |
| Free Cash Flow | $206.8M | $166.5M |
| YoY Change | 24.2% | -23.87% |
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BasisOfAccounting
|
<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:5.24%;white-space:nowrap" valign="top"> <p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1.</span></p></td> <td valign="top"> <p style="margin-top:0pt;text-align:justify;margin-bottom:0pt;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:10pt;"><span style="font-weight:normal;"/>Basis of Presentation</p></td></tr></table></div> <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;">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, 2019, which are included in our <a href="http://www.sec.gov/Archives/edgar/data/1138118/000156459020008056/cbre-10k_20191231.htm"><span style="text-decoration:underline;">2019 Annual Report on Form 10-K (2019 Annual Report),</span></a><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> 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="text-decoration:underline;">2019 Annual Report</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> for further discussion of our significant accounting policies and estimates.</span></p> <p style="text-align:justify;margin-top:12pt;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;">Considerations Related to the COVID‑19 Pandemic</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 the first half of 2020, the outbreak of the widespread novel coronavirus (COVID‑19) created a tremendous amount of uncertainty, disrupted business activity and severely impacted global real estate markets. </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 emergence of the COVID‑19 pandemic and resultant sharp contraction of economic activity across much of the world has had a significant impact on commercial real estate markets throughout the first half of 2020. Many property owners and occupiers have put transactions on hold and withdrawn existing mandates, driving lower sales and leasing volumes. Real estate investment management and property development markets have been equally affected by the abrupt macroeconomic, real estate and capital markets challenges brought about by COVID‑19. The timing of the negative impact varies by geography, with Asian markets, which experienced the earliest effects of the pandemic, showing tentative signs of recovering. The recovering of markets in other parts of the world remained uncertain as of mid-year 2020. We expect the effects of COVID‑19 will adversely impact our financial position, results of operations, and cash flows for fiscal year 2020. The unaudited consolidated financial statements presented herein reflect our current estimates and assumptions that affect the reported amounts of assets and liabilities and related disclosures as of the date of the financial statements and reported amounts of sales and expenses during the reporting periods presented.</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;">See Note 6 (Fair Value Measurements) and Note 10 (Commitments and Contingencies) for further discussion of COVID‑19 considerations.</p> <p style="text-align:justify;margin-top:12pt;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;">Financial Statement Preparation</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 (U.S.), or 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, including the impact COVID‑19 may have on our business. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported and reported amounts of revenue 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.</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;">Certain reclassifications have been made to the 2019 financial statements to conform with the 2020 presentation.</p> | ||
| us-gaap |
Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
|
<div style="align:left;"> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse; width:100%;"> <tr> <td style="width:5.24%;white-space:nowrap" valign="top"> <p style="margin-top:2pt;text-align:justify;margin-bottom:0pt;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><span style="font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2.</span></p></td> <td valign="top"> <p style="margin-top:2pt;text-align:justify;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:12pt;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: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 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018‑14, “<span style="font-style:italic;">Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans.</span>” This ASU makes minor changes to the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. This ASU is effective for fiscal years ending after December 15, 2020, with early adoption permitted. ASU 2018-14 only revises disclosure requirements. We are evaluating the effect, if any, that ASU 2018‑14 will have on our disclosures, but do not expect it to have a material impact.</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 2019, the FASB issued ASU 2019‑12, “<span style="font-style:italic;">Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.</span>” This ASU removes specific exceptions to the general principles in Topic 740 and improves and simplifies financial statement preparers’ application of income tax-related guidance. This ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those years, with early adoption permitted. We are evaluating the effect that ASU 2019‑12 will have on our consolidated financial statements and related disclosures, but do not expect it to have a material impact.</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 2020, the FASB issued ASU 2020‑01, “<span style="font-style:italic;">Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815).</span>” This ASU, among other things, clarifies that a company should consider observable transactions that require a company to either apply or discontinue the equity method of accounting under Topic 323 and clarifies that, when determining the accounting for certain forward contracts and purchased options a company should not consider, whether upon settlement or exercise, if the underlying securities would be accounted for under the equity method or fair value option. This ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those years, with early adoption permitted. We are evaluating the effect that ASU 2020‑01 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 2020, the FASB issued ASU 2020‑04, “<span style="font-style:italic;">Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting.”</span> This ASU provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying generally accepted accounting principles to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or another reference rate expected to be discontinued. This ASU is effective for a limited time for all entities through December 31, 2022. We are evaluating the effect that ASU 2020‑04 will have on our consolidated financial statements and related disclosures.</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;"> </p> | ||
| CY2019Q4 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
997966000 | |
| CY2020Q2 | us-gaap |
Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
|
1063529000 | |
| CY2019Q4 | cbre |
Loan Receivable Mortgage Warehouse Lending Current
LoanReceivableMortgageWarehouseLendingCurrent
|
993058000 | |
| us-gaap |
Payments For Origination Of Mortgage Loans Held For Sale
PaymentsForOriginationOfMortgageLoansHeldForSale
|
7162747000 | ||
| us-gaap |
Gain Loss On Sales Of Mortgage Backed Securities Mbs
GainLossOnSalesOfMortgageBackedSecuritiesMBS
|
33185000 | ||
| cbre |
Sale Of Mortgage Loans Held For Sale
SaleOfMortgageLoansHeldForSale
|
7387942000 | ||
| us-gaap |
Proceeds From Collection Of Mortgage Loans Held For Sale
ProceedsFromCollectionOfMortgageLoansHeldForSale
|
33185000 | ||
| us-gaap |
Proceeds From Sale Of Mortgage Loans Held For Sale
ProceedsFromSaleOfMortgageLoansHeldForSale
|
7421127000 | ||
| cbre |
Net Increase Decrease In Mortgage Servicing Rights Included In Warehouse Receivables
NetIncreaseDecreaseInMortgageServicingRightsIncludedInWarehouseReceivables
|
-2733000 | ||
| CY2020Q2 | cbre |
Loan Receivable Mortgage Warehouse Lending Current
LoanReceivableMortgageWarehouseLendingCurrent
|
765130000 | |
| CY2020Q2 | us-gaap |
Fair Value Investments Entities That Calculate Net Asset Value Per Share Planned Sale Investments Not Identified Value
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerSharePlannedSaleInvestmentsNotIdentifiedValue
|
66500000 | |
| CY2019Q4 | us-gaap |
Fair Value Investments Entities That Calculate Net Asset Value Per Share Planned Sale Investments Not Identified Value
FairValueInvestmentsEntitiesThatCalculateNetAssetValuePerSharePlannedSaleInvestmentsNotIdentifiedValue
|
45200000 | |
| us-gaap |
Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
|
89000000.0 | ||
| CY2019Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.66 | |
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.75 | ||
| us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
1.14 | ||
| CY2020Q2 | us-gaap |
Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
|
0 | |
| CY2020Q2 | us-gaap |
Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
|
350000000.0 | |
| CY2020Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
5252241000 | |
| CY2020Q2 | us-gaap |
Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
|
412169000 | |
| CY2019Q2 | us-gaap |
Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
|
342822000 | |
| us-gaap |
Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
|
823420000 | ||
| us-gaap |
Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
|
707947000 | ||
| CY2020Q2 | cbre |
Equity Method Investment Summarized Financial Information Operating Profit Loss
EquityMethodInvestmentSummarizedFinancialInformationOperatingProfitLoss
|
138924000 | |
| CY2019Q2 | cbre |
Equity Method Investment Summarized Financial Information Operating Profit Loss
EquityMethodInvestmentSummarizedFinancialInformationOperatingProfitLoss
|
97202000 | |
| cbre |
Equity Method Investment Summarized Financial Information Operating Profit Loss
EquityMethodInvestmentSummarizedFinancialInformationOperatingProfitLoss
|
313458000 | ||
| cbre |
Equity Method Investment Summarized Financial Information Operating Profit Loss
EquityMethodInvestmentSummarizedFinancialInformationOperatingProfitLoss
|
191823000 | ||
| CY2020Q2 | us-gaap |
Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
|
54055000 | |
| CY2019Q2 | us-gaap |
Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
|
50549000 | |
| us-gaap |
Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
|
158584000 | ||
| us-gaap |
Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
|
99477000 | ||
| CY2020Q2 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
1774047000 | |
| CY2019Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
1773396000 | |
| CY2020Q2 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
1540000 | |
| CY2019Q4 | us-gaap |
Long Term Debt Current
LongTermDebtCurrent
|
1814000 | |
| CY2020Q2 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
9394000 | |
| CY2019Q4 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
10337000 | |
| CY2020Q2 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
1763113000 | |
| CY2019Q4 | us-gaap |
Long Term Debt Noncurrent
LongTermDebtNoncurrent
|
1761245000 | |
| cbre |
Minimum Coverage Ratio Of Earnings Before Interest Tax Depreciation And Amortization To Interest Expense Expressed In Percentage
MinimumCoverageRatioOfEarningsBeforeInterestTaxDepreciationAndAmortizationToInterestExpenseExpressedInPercentage
|
2.00 | ||
| cbre |
Maximum Leverage Ratio Of Debt To Earnings Before Interest Tax Depreciation And Amortization Expressed In Percentage
MaximumLeverageRatioOfDebtToEarningsBeforeInterestTaxDepreciationAndAmortizationExpressedInPercentage
|
4.25 | ||
| cbre |
Maximum Leverage Ratio During First Four Quarter That Qualified Acquisition Is Consummated
MaximumLeverageRatioDuringFirstFourQuarterThatQualifiedAcquisitionIsConsummated
|
4.75 | ||
| CY2020Q2 | cbre |
Coverage Ratio Of Earnings Before Interest Tax Depreciation And Amortization To Interest Expense Expressed In Percentage
CoverageRatioOfEarningsBeforeInterestTaxDepreciationAndAmortizationToInterestExpenseExpressedInPercentage
|
22.98 | |
| CY2020Q2 | cbre |
Leverage Ratio Of Debt To Earnings Before Interest Tax Depreciation And Amortization Expressed In Percentage
LeverageRatioOfDebtToEarningsBeforeInterestTaxDepreciationAndAmortizationExpressedInPercentage
|
0.61 | |
| CY2020Q2 | us-gaap |
Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
|
129143000 | |
| CY2019Q2 | us-gaap |
Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
|
150544000 | |
| CY2020Q2 | us-gaap |
Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
|
97999000 | |
| CY2019Q4 | us-gaap |
Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
|
94141000 | |
| CY2020Q2 | cbre |
Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
|
1161528000 | |
| CY2019Q4 | cbre |
Operating And Finance Lease Right Of Use Asset
OperatingAndFinanceLeaseRightOfUseAsset
|
1092107000 | |
| CY2020Q2 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
191895000 | |
| CY2019Q4 | us-gaap |
Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
|
168663000 | |
| CY2020Q2 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
36478000 | |
| CY2019Q4 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
34966000 | |
| CY2020Q2 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
1118476000 | |
| CY2019Q4 | us-gaap |
Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
|
1057758000 | |
| CY2020Q2 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
62586000 | |
| CY2019Q4 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
60001000 | |
| CY2020Q2 | cbre |
Operating And Financing Lease Liability
OperatingAndFinancingLeaseLiability
|
1409435000 | |
| CY2019Q4 | cbre |
Operating And Financing Lease Liability
OperatingAndFinancingLeaseLiability
|
1321388000 | |
| us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
155935000 | ||
| us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
75116000 | ||
| us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
23845000 | ||
| us-gaap |
Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
|
18607000 | ||
| cbre |
Other Noncash Increases Decreases In Operating Lease Right Of Use Assets
OtherNoncashIncreasesDecreasesInOperatingLeaseRightOfUseAssets
|
11426000 | ||
| cbre |
Other Noncash Increases Decreases In Operating Lease Right Of Use Assets
OtherNoncashIncreasesDecreasesInOperatingLeaseRightOfUseAssets
|
25598000 | ||
| cbre |
Other Noncash Increases Decreases In Finance Lease Right Of Use Assets
OtherNoncashIncreasesDecreasesInFinanceLeaseRightOfUseAssets
|
-969000 | ||
| cbre |
Other Noncash Increases Decreases In Finance Lease Right Of Use Assets
OtherNoncashIncreasesDecreasesInFinanceLeaseRightOfUseAssets
|
-226000 | ||
| CY2020Q2 | cbre |
Loan Loss Sharing Reserve
LoanLossSharingReserve
|
61300000 | |
| CY2019Q4 | cbre |
Loan Loss Sharing Reserve
LoanLossSharingReserve
|
37000000.0 | |
| CY2020Q2 | cbre |
Assets Available For Recourse
AssetsAvailableForRecourse
|
606100000 | |
| CY2020Q2 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
101200000 | |
| CY2020Q2 | us-gaap |
Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
|
101200000 | |
| cbre |
Line Of Credit Facility Latest Expiration Date
LineOfCreditFacilityLatestExpirationDate
|
2021-06 | ||
| CY2020Q2 | cbre |
Guarantor Obligations Maximum Exposure Undiscounted
GuarantorObligationsMaximumExposureUndiscounted
|
79600000 | |
| CY2020Q2 | cbre |
Guarantor Obligations Maximum Exposure Undiscounted
GuarantorObligationsMaximumExposureUndiscounted
|
79600000 | |
| CY2020Q2 | cbre |
Commitments To Investment In Future Real Estate Investment
CommitmentsToInvestmentInFutureRealEstateInvestment
|
91200000 | |
| CY2020Q2 | cbre |
Commitments To Investment In Unconsolidated Entity
CommitmentsToInvestmentInUnconsolidatedEntity
|
43900000 | |
| CY2020Q2 | us-gaap |
Revenues
Revenues
|
5381384000 | |
| CY2019Q2 | us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
5563529000 | |
| CY2020Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
18800000 | |
| CY2019Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
62500000 | |
| CY2020Q2 | us-gaap |
Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
|
-43700000 | |
| CY2019Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.219 | |
| CY2020Q2 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.186 | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
70000000.0 | ||
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
106400000 | ||
| us-gaap |
Increase Decrease In Income Taxes
IncreaseDecreaseInIncomeTaxes
|
-36400000 | ||
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.215 | ||
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.213 | ||
| us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.21 | ||
| us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.215 | ||
| us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.210 | ||
| CY2020Q2 | us-gaap |
Unrecognized Tax Benefits
UnrecognizedTaxBenefits
|
147600000 | |
| CY2020Q2 | cbre |
Unrecognized Tax Benefits Related To Unsettled Tax Law
UnrecognizedTaxBenefitsRelatedToUnsettledTaxLaw
|
6400000 | |
| CY2020Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
81897000 | |
| CY2019Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
223731000 | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
254092000 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
388140000 | ||
| CY2020Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
335126126 | |
| CY2019Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
336222471 | |
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
335048115 | ||
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
336122100 | ||
| CY2020Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.24 | |
| CY2019Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.67 | |
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.76 | ||
| us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
1.15 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
388140000 | ||
| us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
336122100 | ||
| CY2020Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
337361419 | |
| CY2019Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
340508931 | |
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
338549805 | ||
| us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
340334315 | ||
| CY2020Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.24 | |
| cbre |
Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
|
918524000 | ||
| CY2020Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
81897000 | |
| CY2019Q2 | us-gaap |
Revenues
Revenues
|
5714073000 | |
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
10997369000 | ||
| us-gaap |
Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
|
273183000 | ||
| us-gaap |
Revenues
Revenues
|
11270552000 | ||
| us-gaap |
Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
|
10562701000 | ||
| us-gaap |
Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
|
286882000 | ||
| us-gaap |
Revenues
Revenues
|
10849583000 | ||
| CY2020Q2 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
478500000 | |
| CY2020Q2 | us-gaap |
Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
|
288900000 | |
| CY2019Q4 | us-gaap |
Contract With Customer Asset Net
ContractWithCustomerAssetNet
|
529800000 | |
| CY2019Q4 | us-gaap |
Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
|
328000000.0 | |
| CY2020Q2 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
134800000 | |
| CY2020Q2 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
128400000 | |
| CY2019Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
115000000.0 | |
| CY2019Q4 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
108700000 | |
| us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
74800000 | ||
| us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
3 | ||
| CY2020Q2 | us-gaap |
Revenues
Revenues
|
5381384000 | |
| CY2019Q2 | us-gaap |
Revenues
Revenues
|
5714073000 | |
| us-gaap |
Revenues
Revenues
|
11270552000 | ||
| us-gaap |
Revenues
Revenues
|
10849583000 | ||
| CY2020Q2 | cbre |
Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
|
267304000 | |
| CY2019Q2 | cbre |
Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
|
468492000 | |
| cbre |
Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
|
697655000 | ||
| CY2019Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
223731000 | |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
254092000 | ||
| us-gaap |
Net Income Loss
NetIncomeLoss
|
388140000 | ||
| CY2020Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
116384000 | |
| CY2019Q2 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
106479000 | |
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
230178000 | ||
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
212302000 | ||
| us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
75171000 | ||
| us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
89037000 | ||
| CY2020Q2 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-17950000 | |
| CY2019Q2 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-24600000 | |
| us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-33966000 | ||
| us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-45792000 | ||
| us-gaap |
Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
|
2608000 | ||
| CY2020Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
18803000 | |
| CY2019Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
62521000 | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
69985000 | ||
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
106399000 | ||
| CY2020Q2 | cbre |
Income Loss Before Net Interest Expense Write Off Of Financing Costs Income Taxes Depreciation And Amortization
IncomeLossBeforeNetInterestExpenseWriteOffOfFinancingCostsIncomeTaxesDepreciationAndAmortization
|
235034000 | |
| CY2019Q2 | cbre |
Income Loss Before Net Interest Expense Write Off Of Financing Costs Income Taxes Depreciation And Amortization
IncomeLossBeforeNetInterestExpenseWriteOffOfFinancingCostsIncomeTaxesDepreciationAndAmortization
|
417331000 | |
| cbre |
Income Loss Before Net Interest Expense Write Off Of Financing Costs Income Taxes Depreciation And Amortization
IncomeLossBeforeNetInterestExpenseWriteOffOfFinancingCostsIncomeTaxesDepreciationAndAmortization
|
663392000 | ||
| cbre |
Income Loss Before Net Interest Expense Write Off Of Financing Costs Income Taxes Depreciation And Amortization
IncomeLossBeforeNetInterestExpenseWriteOffOfFinancingCostsIncomeTaxesDepreciationAndAmortization
|
844278000 | ||
| CY2020Q2 | cbre |
Costs Primarily Associated With Workforce Optimization Efforts
CostsPrimarilyAssociatedWithWorkforceOptimizationEfforts
|
37594000 | |
| cbre |
Costs Primarily Associated With Workforce Optimization Efforts
CostsPrimarilyAssociatedWithWorkforceOptimizationEfforts
|
37594000 | ||
| CY2020Q2 | cbre |
Impact Of Fair Value Adjustments To Assets Acquired In Business
ImpactOfFairValueAdjustmentsToAssetsAcquiredInBusiness
|
1247000 | |
| cbre |
Impact Of Fair Value Adjustments To Assets Acquired In Business
ImpactOfFairValueAdjustmentsToAssetsAcquiredInBusiness
|
7000000 | ||
| CY2020Q2 | us-gaap |
Restructuring Costs
RestructuringCosts
|
693000 | |
| us-gaap |
Restructuring Costs
RestructuringCosts
|
3934000 | ||
| CY2020Q2 | us-gaap |
Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
|
236000 | |
| CY2019Q2 | us-gaap |
Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
|
9037000 | |
| us-gaap |
Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
|
1019000 | ||
| us-gaap |
Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
|
9037000 | ||
| CY2020Q2 | cbre |
Carried Interest Incentive Compensation Expense Reversal
CarriedInterestIncentiveCompensationExpenseReversal
|
-7500000 | |
| CY2019Q2 | cbre |
Carried Interest Incentive Compensation Expense Reversal
CarriedInterestIncentiveCompensationExpenseReversal
|
8308000 | |
| cbre |
Carried Interest Incentive Compensation Expense Reversal
CarriedInterestIncentiveCompensationExpenseReversal
|
-15284000 | ||
| cbre |
Carried Interest Incentive Compensation Expense Reversal
CarriedInterestIncentiveCompensationExpenseReversal
|
15644000 | ||
| CY2019Q2 | us-gaap |
Restructuring Charges
RestructuringCharges
|
33816000 | |
| us-gaap |
Restructuring Charges
RestructuringCharges
|
49565000 | ||
| CY2020Q2 | cbre |
Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
|
267304000 | |
| CY2019Q2 | cbre |
Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
|
468492000 | |
| cbre |
Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
|
697655000 | ||
| cbre |
Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
|
918524000 | ||
| us-gaap |
Revenues
Revenues
|
10849583000 |
