v3.24.3
Segments (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule of Summarized Financial Information by Segment
Summarized financial information by segment is as follows (dollars in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Revenue
Advisory Services$2,395 $2,013 $6,518 $5,908 
Global Workplace Solutions6,346 5,649 18,099 16,413 
Real Estate Investments302 210 762 690 
Corporate, other and eliminations (1)
(7)(4)(16)(12)
Total revenue$9,036 $7,868 $25,363 $22,999 
Segment Operating Profit
Advisory Services$414 $277 $1,020 $862 
Global Workplace Solutions318 251 808 714 
Real Estate Investments67 7 111 171 
Total reportable segment operating profit$799 $535 $1,939 $1,747 
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(1)Eliminations represent revenue from transactions with other operating segments. See Note 13.
Schedule of Reconciliation of Reportable Segment Operating Profit to Net Income
Reconciliation of total reportable segment operating profit to net income is as follows (dollars in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Net income attributable to CBRE Group, Inc.$225 $191 $481 $509 
Net income attributable to non-controlling interests20 10 54 23 
Net income245 201 535 532 
Adjustments to increase (decrease) net income:
Depreciation and amortization178 149 497 465 
Interest expense, net of interest income64 38 163 110 
Provision for income taxes67 31 70 114 
Costs associated with efficiency and cost-reduction initiatives41 4 137 145 
Charges related to indirect tax audit / settlement25 — 39 — 
Carried interest incentive compensation (reversal) expense to align with the timing of associated revenue(4)(8)12 (2)
Costs incurred related to legal entity restructuring— 4 2 4 
Integration and other costs related to acquisitions (1)
22 5 30 60 
Provision associated with Telford’s fire safety remediation efforts
33 — 33 — 
Impact of fair value non-cash adjustments related to unconsolidated equity investments9 — 9 — 
Corporate and other loss, including eliminations119 111 412 319 
Total reportable segment operating profit$799 $535 $1,939 $1,747 
________________________________________________________________________________________________________________________________________
(1)During the first quarter of 2024, we incurred integration and other costs related to acquisitions of $18 million in deal and integration costs, offset by reversal of $22 million in previously recognized transaction-related bonus expense due to change in estimate.
Schedule of Geographic Information
Revenue in the table below is allocated based upon the country in which services are performed (dollars in millions):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Revenue
United States$5,210 $4,274 $14,302 $12,630 
United Kingdom1,257 1,100 3,537 3,152 
All other countries2,569 2,494 7,524 7,217 
Total revenue$9,036 $7,868 $25,363 $22,999