$CBRE
CBRE GROUP, INC.

2020 Q3 Form 10-Q Financial Statement

#000156459020048948 Filed on October 29, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2020 Q2 2019 Q3
Revenue $5.645B $5.381B $5.925B
YoY Change -4.72% -5.82% 12.62%
Cost Of Revenue $4.565B $4.400B $4.687B
YoY Change -2.62% -1.04% 14.36%
Gross Profit $1.081B $981.8M $1.238B
YoY Change -12.7% -22.58% 6.52%
Gross Profit Margin 19.14% 18.25% 20.89%
Selling, General & Admin $794.2M $740.6M $814.4M
YoY Change -2.48% -15.96% -5.2%
% of Gross Profit 73.5% 75.43% 65.8%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $127.7M $116.4M $111.6M
YoY Change 14.43% 9.3% -1.59%
% of Gross Profit 11.82% 11.86% 9.02%
Operating Expenses $921.9M $857.0M $932.6M
YoY Change -1.15% -2.32% -4.1%
Operating Profit $211.4M $94.17M $316.6M
YoY Change -33.23% -66.89% 66.9%
Interest Expense $14.50M $1.500M $4.000M
YoY Change 262.5% -153.57% -96.06%
% of Operating Profit 6.86% 1.59% 1.26%
Other Income/Expense, Net $7.947M $5.220M $941.0K
YoY Change 744.53% 19.48% -99.01%
Pretax Income $233.9M $100.9M $321.5M
YoY Change -27.25% -64.71% -16.84%
Income Tax $49.06M $18.80M $63.47M
% Of Pretax Income 20.98% 18.63% 19.74%
Net Earnings $184.1M $81.90M $256.6M
YoY Change -28.24% -63.39% -11.66%
Net Earnings / Revenue 3.26% 1.52% 4.33%
Basic Earnings Per Share $0.55 $0.24 $0.76
Diluted Earnings Per Share $0.55 $0.24 $0.75
COMMON SHARES
Basic Shares Outstanding 335.3M shares 335.1M shares 336.2M shares
Diluted Shares Outstanding 337.7M shares 337.4M shares 341.1M shares

Balance Sheet

Concept 2020 Q3 2020 Q2 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.482B $1.214B $577.0M
YoY Change 156.85% 126.49% 4.91%
Cash & Equivalents $1.647B $1.314B $577.5M
Short-Term Investments
Other Short-Term Assets $735.0M $684.0M $264.3M
YoY Change 178.12% 187.64% -56.25%
Inventory
Prepaid Expenses $284.9M $282.6M
Receivables $4.280B $4.424B $4.058B
Other Receivables $1.275B $868.0M $1.027B
Total Short-Term Assets $7.771B $7.189B $7.059B
YoY Change 10.09% 4.41% 10.67%
LONG-TERM ASSETS
Property, Plant & Equipment $1.976B $1.986B $782.0M
YoY Change 152.68% 166.05% 11.4%
Goodwill $3.627B
YoY Change
Intangibles $1.326B
YoY Change
Long-Term Investments $393.0M $386.0M $329.0M
YoY Change 19.45% 25.61% 68.72%
Other Assets $911.0M $888.0M $795.3M
YoY Change 14.54% 17.96% 21.61%
Total Long-Term Assets $8.576B $8.511B $7.982B
YoY Change 7.44% 8.64% 20.96%
TOTAL ASSETS
Total Short-Term Assets $7.771B $7.189B $7.059B
Total Long-Term Assets $8.576B $8.511B $7.982B
Total Assets $16.35B $15.70B $15.04B
YoY Change 8.68% 6.66% 15.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.429B $2.329B $2.085B
YoY Change 16.5% 12.84% 24.55%
Accrued Expenses $2.221B $1.932B $2.263B
YoY Change -1.86% -1.68% 19.23%
Deferred Revenue $132.5M $128.4M $110.9M
YoY Change 19.47% 17.25% 27.82%
Short-Term Debt $1.197B $1.210B $1.405B
YoY Change -14.78% -23.42% -18.38%
Long-Term Debt Due $1.526M $1.540M $1.897M
YoY Change -19.56% -31.8% -52.58%
Total Short-Term Liabilities $6.152B $5.853B $6.028B
YoY Change 2.06% -0.59% 9.88%
LONG-TERM LIABILITIES
Long-Term Debt $1.783B $1.763B $1.748B
YoY Change 2.0% -0.2% -0.67%
Other Long-Term Liabilities $1.683B $1.664B $436.7M
YoY Change 285.36% 271.61% -30.92%
Total Long-Term Liabilities $1.783B $1.763B $2.185B
YoY Change -18.39% -20.38% 245.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.152B $5.853B $6.028B
Total Long-Term Liabilities $1.783B $1.763B $2.185B
Total Liabilities $9.794B $9.456B $9.482B
YoY Change 3.29% 1.37% 15.57%
SHAREHOLDERS EQUITY
Retained Earnings $5.156B
YoY Change 25.41%
Common Stock $1.143B
YoY Change -10.75%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $6.553B $6.244B $5.512B
YoY Change
Total Liabilities & Shareholders Equity $16.35B $15.70B $15.04B
YoY Change 8.68% 6.66% 15.9%

Cashflow Statement

Concept 2020 Q3 2020 Q2 2019 Q3
OPERATING ACTIVITIES
Net Income $184.1M $81.90M $256.6M
YoY Change -28.24% -63.39% -11.66%
Depreciation, Depletion And Amortization $127.7M $116.4M $111.6M
YoY Change 14.43% 9.3% -1.59%
Cash From Operating Activities $854.5M $134.9M $468.0M
YoY Change 82.59% 35.85% -21.27%
INVESTING ACTIVITIES
Capital Expenditures -$56.40M -$71.90M -$71.80M
YoY Change -21.45% 6.99% 61.71%
Acquisitions
YoY Change
Other Investing Activities -$14.10M $28.20M -$51.80M
YoY Change -72.78% -508.7% 56.97%
Cash From Investing Activities -$70.60M -$43.70M -$123.6M
YoY Change -42.88% -41.11% 59.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -488.3M 478.4M -238.0M
YoY Change 105.17% -519.65% -50.36%
NET CHANGE
Cash From Operating Activities 854.5M 134.9M 468.0M
Cash From Investing Activities -70.60M -43.70M -123.6M
Cash From Financing Activities -488.3M 478.4M -238.0M
Net Change In Cash 295.6M 569.6M 106.4M
YoY Change 177.82% -740.72% 184.49%
FREE CASH FLOW
Cash From Operating Activities $854.5M $134.9M $468.0M
Capital Expenditures -$56.40M -$71.90M -$71.80M
Free Cash Flow $910.9M $206.8M $539.8M
YoY Change 68.75% 24.2% -15.5%

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us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
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us-gaap Basis Of Accounting
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<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 2019 Annual Report 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;">The outbreak of the novel coronavirus (COVID‑19) global pandemic in the first quarter of 2020 has created a tremendous amount of uncertainty, precipitated a global economic contraction and severely disrupted both business activity and 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;">From 2010 to early 2020, commercial real estate markets had generally been characterized by increased demand for space, falling vacancies, higher rents and strong capital flows, leading to solid property sales and leasing activity. This healthy backdrop changed abruptly in the first quarter of 2020 with the emergence of the COVID‑19 pandemic and resultant sharp contraction of economic activity across much of the world. There has been a significant impact on commercial real estate markets, as many property owners and occupiers have put transactions on hold and withdrawn existing mandates, sharply reducing sales and leasing volumes. We expect to see this trend continue, as concerns about a COVID-19 resurgence are high across our major markets. The recovery of real estate markets around the world remained uncertain as of October 2020. </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 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;"><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain re</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">classifications</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> have been made to the 201</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">9</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> financial statements to conform with the 20</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">20</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> presentation</span><span style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">.</span></p>
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
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<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>
us-gaap Impairment Of Intangible Assets Excluding Goodwill
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us-gaap Proceeds From Sale Of Mortgage Loans Held For Sale
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CY2020Q3 us-gaap Letters Of Credit Outstanding Amount
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cbre Line Of Credit Facility Latest Expiration Date
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72400000
CY2020Q3 cbre Commitments To Investment In Future Real Estate Investment
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CY2020Q3 cbre Commitments To Investment In Unconsolidated Entity
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CY2020Q3 us-gaap Income Tax Expense Benefit
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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.210
CY2020Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
142200000
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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1000000.0
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1000000.0
us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
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CY2020Q3 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
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5400000
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2019Q3 us-gaap Net Income Loss
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CY2020Q3 us-gaap Earnings Per Share Basic
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0.55
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us-gaap Net Income Loss
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CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2020Q3 us-gaap Revenue Not From Contract With Customer
RevenueNotFromContractWithCustomer
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CY2020Q3 us-gaap Revenues
Revenues
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CY2019Q3 us-gaap Revenues
Revenues
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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335128531
us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q3 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
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2378603
CY2019Q3 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
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us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
3127328
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
4440288
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
337665848
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
341100182
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
338255859
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
340590007
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.55
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.75
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.30
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.89
CY2020Q2 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0
CY2020Q3 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
0
CY2020Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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CY2020Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenues
Revenues
16774684000
CY2020Q3 us-gaap Contract With Customer Asset Net
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CY2020Q3 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
282000000.0
CY2019Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
529800000
CY2019Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
328000000.0
CY2020Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
134300000
CY2020Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
132500000
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
77900000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2020Q3 us-gaap Revenues
Revenues
5645142000
CY2019Q3 us-gaap Revenues
Revenues
5925101000
us-gaap Revenues
Revenues
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CY2020Q3 cbre Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
441764000
CY2019Q3 cbre Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
454630000
cbre Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
1139419000
cbre Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
1373154000
CY2020Q3 us-gaap Net Income Loss
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184132000
cbre Carried Interest Incentive Compensation Expense Reversal
CarriedInterestIncentiveCompensationExpenseReversal
12284000
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
256599000
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Income Loss
NetIncomeLoss
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CY2020Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
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CY2019Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
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us-gaap Depreciation And Amortization
DepreciationAndAmortization
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us-gaap Depreciation And Amortization
DepreciationAndAmortization
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us-gaap Asset Impairment Charges
AssetImpairmentCharges
75171000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
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CY2020Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-17829000
CY2019Q3 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
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us-gaap Write Off Of Deferred Debt Issuance Cost
WriteOffOfDeferredDebtIssuanceCost
2608000
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2020Q3 cbre Income Loss Before Net Interest Expense Write Off Of Financing Costs Income Taxes Depreciation And Amortization
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378748000
CY2019Q3 cbre Income Loss Before Net Interest Expense Write Off Of Financing Costs Income Taxes Depreciation And Amortization
IncomeLossBeforeNetInterestExpenseWriteOffOfFinancingCostsIncomeTaxesDepreciationAndAmortization
453473000
cbre Income Loss Before Net Interest Expense Write Off Of Financing Costs Income Taxes Depreciation And Amortization
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cbre Income Loss Before Net Interest Expense Write Off Of Financing Costs Income Taxes Depreciation And Amortization
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CY2020Q3 cbre Costs Associated With Transformation Initiatives
CostsAssociatedWithTransformationInitiatives
55374000
cbre Costs Associated With Transformation Initiatives
CostsAssociatedWithTransformationInitiatives
55374000
CY2020Q3 cbre Carried Interest Incentive Compensation Expense Reversal
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CY2019Q3 cbre Carried Interest Incentive Compensation Expense Reversal
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cbre Carried Interest Incentive Compensation Expense Reversal
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CY2020Q3 cbre Impact Of Fair Value Adjustments To Assets Acquired In Business
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2289000
cbre Impact Of Fair Value Adjustments To Assets Acquired In Business
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9289000
CY2020Q3 us-gaap Restructuring Costs
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1061000
us-gaap Restructuring Costs
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4995000
CY2020Q3 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
525000
CY2019Q3 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
4517000
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
1544000
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
13554000
cbre Costs Primarily Associated With Workforce Optimization Efforts
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us-gaap Restructuring Charges
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CY2020Q3 cbre Adjusted Earnings Before Interest Taxes Depreciation And Amortization
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CY2019Q3 cbre Adjusted Earnings Before Interest Taxes Depreciation And Amortization
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cbre Adjusted Earnings Before Interest Taxes Depreciation And Amortization
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cbre Adjusted Earnings Before Interest Taxes Depreciation And Amortization
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CY2020Q3 us-gaap Revenues
Revenues
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CY2019Q3 us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
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us-gaap Revenues
Revenues
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CY2020Q3 cbre Costs Associated With Transformation Initiatives
CostsAssociatedWithTransformationInitiatives
55400000
cbre Costs Associated With Transformation Initiatives
CostsAssociatedWithTransformationInitiatives
55400000

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