CBRE (CBRE) 10-Q 29 Apr 21 2021 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2021	Apr. 23, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-32205
Entity Registrant Name	CBRE GROUP, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3391143
Entity Address, Address Line One	2100 McKinney Avenue
Entity Address, Address Line Two	Suite 1250
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75201
City Area Code	214
Local Phone Number	979-6100
Title of 12(b) Security	Class A Common Stock, $0.01 par value per share
Trading Symbol	“CBRE”
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		335,657,390
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001138118
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 1,910,326	$ 1,896,188
Restricted cash	91,381	143,059
Receivables, less allowance for doubtful accounts of $88,972 and $95,533 at March 31, 2021 and December 31, 2020, respectively	4,232,561	4,394,954
Warehouse receivables	686,317	1,411,170
Prepaid expenses	281,658	294,992
Contract assets	313,648	318,191
Income taxes receivable	71,681	93,756
Other current assets	318,719	293,321
Total Current Assets	7,906,291	8,845,631
Property and equipment, net	774,301	815,009
Goodwill	3,804,678	3,821,609
Other intangible assets, net of accumulated amortization of $1,603,208 and $1,556,537 at March 31, 2021 and December 31, 2020, respectively	1,370,484	1,367,913
Operating lease assets	1,000,729	1,020,352
Investments in unconsolidated subsidiaries (with $309,749 and $116,314 at fair value at March 31, 2021 and December 31, 2020, respectively)	682,559	452,365
Non-current contract assets	135,587	153,636
Real estate under development	295,494	277,630
Non-current income taxes receivable	37,130	43,555
Deferred tax assets, net	90,320	91,529
Investments held in trust - special purpose acquisition company	402,507	402,501
Other assets, net	748,648	747,413
Total Assets	17,248,728	18,039,143
Current Liabilities:
Accounts payable and accrued expenses	2,469,434	2,692,939
Compensation and employee benefits payable	1,353,219	1,287,383
Accrued bonus and profit sharing	657,552	1,183,786
Operating lease liabilities	206,772	208,526
Contract liabilities	174,413	162,045
Income taxes payable	64,105	57,892
Warehouse lines of credit (which fund loans that U.S. Government Sponsored Enterprises have committed to purchase)	675,473	1,383,964
Other short-term borrowings	5,425	5,330
Current maturities of long-term debt	1,402	1,514
Other current liabilities	165,008	160,604
Total Current Liabilities	5,772,803	7,143,983
Long-term debt, net of current maturities	1,848,346	1,380,202
Non-current operating lease liabilities	1,090,740	1,116,795
Non-current tax liabilities	93,885	87,954
Non-current income taxes payable	54,761	54,761
Deferred tax liabilities, net	123,562	124,485
Other liabilities	608,848	625,303
Total Liabilities	9,592,945	10,533,483
Commitments and contingencies	0	0
Non-controlling interest subject to possible redemption - special purpose acquisition company	384,399	385,573
CBRE Group, Inc. Stockholders’ Equity:
Class A common stock; $0.01 par value; 525,000,000 shares authorized; 335,918,173 and 335,561,345 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	3,359	3,356
Additional paid-in capital	1,013,287	1,074,639
Accumulated earnings	6,796,259	6,530,057
Accumulated other comprehensive loss	(582,535)	(529,726)
Total CBRE Group, Inc. Stockholders’ Equity	7,230,370	7,078,326
Non-controlling interests	41,014	41,761
Total Equity	7,271,384	7,120,087
Total Liabilities and Equity	$ 17,248,728	$ 18,039,143

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current Assets:
Receivables, allowance for doubtful accounts	$ 88,972	$ 95,533
Other intangible assets, accumulated amortization	1,603,208	1,556,537
Investments in unconsolidated subsidiaries, at fair value	$ 309,749	$ 116,314
CBRE Group, Inc. Stockholders’ Equity:
Class A common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Class A common stock, shares authorized (in shares)	525,000,000	525,000,000
Class A common stock, shares issued (in shares)	335,918,173	335,561,345
Class A common stock, shares outstanding (in shares)	335,918,173	335,561,345

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenue	$ 5,938,879	$ 5,889,168
Costs and expenses:
Cost of revenue	4,719,546	4,712,674
Operating, administrative and other	828,327	790,066
Depreciation and amortization	122,078	113,794
Asset impairments	0	75,171
Total costs and expenses	5,669,951	5,691,705
Gain on disposition of real estate	156	22,827
Operating income	269,084	220,290
Equity income from unconsolidated subsidiaries	83,594	20,631
Other income (loss)	2,732	(193)
Interest expense, net of interest income	10,106	16,016
Income before provision for income taxes	345,304	224,712
Provision for income taxes	76,327	51,182
Net income	268,977	173,530
Less:  Net income attributable to non-controlling interests	2,775	1,335
Net income attributable to CBRE Group, Inc.	$ 266,202	$ 172,195
Basic income per share:
Net income per share attributable to CBRE Group, Inc. (in dollars per share)	$ 0.79	$ 0.51
Weighted average shares outstanding for basic income per share (in shares)	335,860,494	334,969,826
Diluted income per share:
Net income per share attributable to CBRE Group, Inc. (in dollars per share)	$ 0.78	$ 0.51
Weighted average shares outstanding for diluted income per share (in shares)	339,580,504	339,737,911

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 268,977	$ 173,530
Other comprehensive loss:
Foreign currency translation loss	(52,346)	(172,374)
Amounts reclassified from accumulated other comprehensive loss to interest expense, net of tax	107	114
Unrealized holding (losses) gains on available for sale debt securities, net of tax	(678)	909
Total other comprehensive loss	(52,917)	(171,351)
Comprehensive income	216,060	2,179
Less: Comprehensive income attributable to non-controlling interests	2,667	1,275
Comprehensive income attributable to CBRE Group, Inc.	$ 213,393	$ 904

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 268,977	$ 173,530
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	122,078	113,794
Amortization of financing costs	1,609	1,501
Gains related to mortgage servicing rights, premiums on loan sales and sales of other assets	(72,045)	(52,373)
Asset impairments	0	75,171
Net realized and unrealized (gains) losses, primarily from investments	(2,732)	193
Provision for doubtful accounts	731	9,059
Net compensation expense (reversal) for equity awards	35,786	(1,239)
Equity income from unconsolidated subsidiaries	(83,594)	(20,631)
Distribution of earnings from unconsolidated subsidiaries	32,986	29,185
Proceeds from sale of mortgage loans	4,643,685	3,595,631
Origination of mortgage loans	(3,909,261)	(3,859,407)
(Decrease) increase in warehouse lines of credit	(708,491)	281,657
Tenant concessions received	1,578	13,292
Purchase of equity securities	(2,398)	(3,559)
Proceeds from sale of equity securities	3,017	4,925
(Increase) decrease in real estate under development	(15,901)	7,742
Decrease in receivables, prepaid expenses and other assets (including contract and lease assets)	161,221	52,796
Decrease in accounts payable and accrued expenses and other liabilities (including contract and lease liabilities)	(245,522)	(27,089)
Decrease in compensation and employee benefits payable and accrued bonus and profit sharing	(469,213)	(605,950)
Decrease in net income taxes receivable/payable	41,660	108,609
Other operating activities, net	2,381	(25,610)
Net cash used in operating activities	(193,448)	(128,773)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(29,597)	(62,241)
Acquisition of businesses, including net assets acquired, intangibles and goodwill, net of cash acquired	(2,726)	(25,897)
Contributions to unconsolidated subsidiaries	(168,392)	(32,155)
Distributions from unconsolidated subsidiaries	6,795	18,994
Other investing activities, net	16	9,068
Net cash used in investing activities	(193,904)	(92,231)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving credit facility	0	331,671
Repayment of revolving credit facility	0	(331,701)
Proceeds from notes payable on real estate	23,737	0
Proceeds from issuance of 2.500% senior notes	492,255	0
Repurchase of common stock	(61,108)	(50,028)
Acquisition of businesses (cash paid for acquisitions more than three months after purchase date)	(512)	(6,230)
Units repurchased for payment of taxes on equity awards	(34,883)	(36,873)
Non-controlling interest contributions	72	622
Non-controlling interest distributions	(2,652)	(497)
Other financing activities, net	(14,943)	(8,377)
Net cash provided by (used in) financing activities	401,966	(101,413)
Effect of currency exchange rate changes on cash and cash equivalents and restricted cash	(52,154)	(38,633)
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(37,540)	(361,050)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, AT BEGINNING OF PERIOD	2,039,247	1,093,745
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, AT END OF PERIOD	2,001,707	732,695
Cash paid during the period for:
Interest	15,080	27,290
Income tax payments (refunds), net	$ 38,508	$ (55,897)

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Parenthetical)	Mar. 31, 2021	Mar. 18, 2021
2.5% Senior Notes | Senior Notes
Interest rate	2.50%	2.50%

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Class A common stock	Additional paid-in capital	Accumulated earnings	Accumulated  other comprehensive loss	Non- controlling interests
Beginning balance at Dec. 31, 2019	$ 6,273,112	$ 3,348	$ 1,115,944	$ 5,793,149	$ (679,748)	$ 40,419
Net income	173,530			172,195		1,335
Net compensation expense for equity awards	(1,239)		(1,239)
Units repurchased for payment of taxes on equity awards	(36,873)		(36,873)
Repurchase of common stock	(50,028)		(50,028)
Foreign currency translation (loss) gain	(172,374)				(172,314)	(60)
Amounts reclassified from accumulated other comprehensive loss to interest expense, net of tax	114				114
Unrealized holding (losses) gains on available for sale debt securities, net of tax	909				909
Contributions from non-controlling interests	622					622
Distributions to non-controlling interests	(497)					(497)
Other	(17,729)	3	(1,036)	(15,081)		(1,615)
Ending balance at Mar. 31, 2020	6,169,547	3,351	1,026,768	5,950,263	(851,039)	40,204
Beginning balance at Dec. 31, 2020	7,120,087	3,356	1,074,639	6,530,057	(529,726)	41,761
Net income	268,977			266,202		2,775
Net compensation expense for equity awards	35,786		35,786
Units repurchased for payment of taxes on equity awards	(34,883)		(34,883)
Repurchase of common stock	(64,142)	(8)	(64,134)
Foreign currency translation (loss) gain	(52,346)				(52,238)	(108)
Amounts reclassified from accumulated other comprehensive loss to interest expense, net of tax	107				107
Unrealized holding (losses) gains on available for sale debt securities, net of tax	(678)				(678)
Contributions from non-controlling interests	72					72
Distributions to non-controlling interests	(2,652)					(2,652)
Other	1,056	11	1,879			(834)
Ending balance at Mar. 31, 2021	$ 7,271,384	$ 3,359	$ 1,013,287	$ 6,796,259	$ (582,535)	$ 41,014

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation 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, 2020, which are included in our 2020 Annual Report on Form 10-K (2020 Annual Report) , 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 2020 Annual Report for further discussion of our significant accounting policies and estimates. Considerations Related to the Covid-19 Pandemic The Covid-19 pandemic has primarily impacted the Advisory Services segment, chiefly property sales and leasing. Many property owners and occupiers have put transactions on hold and withdrawn existing mandates, sharply reducing sales and leasing volumes. Although progress has been made with the distribution of vaccines and economic conditions in some parts of the world, chiefly the U.S. and China, have been improving, we expect operating challenges to continue, as Covid-19 caseloads remain high, business travel and face-to-face business dealings are limited and the majority of workers remain out of their offices. See Note 5 (Fair Value Measurements) and Note 10 (Commitments and Contingencies) for further discussion of Covid-19 considerations. Financial Statement Preparation 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. Certain reclassifications have been made to the 2020 financial statements to conform with the 2021 presentation.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (FASB) issued ASU 2019‑12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” 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 adopted ASU 2019‑12 in the first quarter of 2021 and the adoption did not have a material impact on our consolidated financial statements and related disclosures. In January 2020, the FASB issued ASU 2020‑01, “Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815).” 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 adopted ASU 2020‑01 in the first quarter of 2021 and the adoption did not have a material impact on our consolidated financial statements and related disclosures. In October 2020, the FASB issued ASU 2020-08, “Codification Improvements to Subtopic 310-20, Receivables — Nonrefundable Fees and Other Costs.” This ASU states that an entity should reevaluate whether a callable debt security is within the scope of the Accounting Standards Codification (ASC) 310-20-35-33 for each reporting period. The ASU is not expected to have a significant effect on current practice or create a large administrative cost for most entities. The amendments stated in this ASU are intended to make ASC 310-20 easier to understand and apply. This ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those years. Early application is not permitted. We adopted ASU 2020-08 in the first quarter of 2021 and the adoption did not have a material impact on our consolidated financial statements and related disclosures. In October 2020, the FASB issued ASU 2020-09, “ Debt (Topic 470): Amendments to SEC Paragraphs Pursuant to SEC Release No. 33-10762. ” This ASU aligns the SEC paragraphs in the codification with the new SEC rules issued in March 2020 relating to changes to the disclosure requirements for certain debt securities. Certain glossary terms were superseded, and amendments were made to debt and other topics as a result of this update. On March 2, 2020, the SEC issued Release No. 33-10762 , which made significant changes to its disclosure requirements relating to certain debt securities. The new rules impact disclosures related to registered securities that are guaranteed and those that are collateralized by the securities of an affiliate. The final rules became effective on January 4, 2021. Voluntary compliance with the final amendments in advance of January 4, 2021 is permitted, hence we elected early compliance with the new rules. Because the amendments made by the FASB in this ASU are to ensure alignment of the relevant SEC paragraphs in ASC 270, ASC 460, ASC 470 and ASC 505 with the amended rules in Release No. 33-10762, the amendments made by the FASB to these SEC paragraphs will not have a material impact on our disclosures, since we already elected early compliance with the amended rules in Release No. 33-10762. In October 2020, the FASB issued ASU 2020-10, “Codification Improvements.” This ASU is intended to conform, clarify, simplify, and/or provide technical corrections to a wide variety of codification topics, including moving certain presentation and disclosure guidance to the appropriate codification section. This ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those years. Early application of the amendments is permitted for and varies based on the entity. The amendments should be applied retrospectively and at the beginning of the period that includes the adoption date. We adopted ASU 2020-10 in the first quarter of 2021 and the adoption did not have a material impact on our consolidated financial statements and related disclosures. Recent Accounting Pronouncements Pending Adoption In March 2020 and January 2021, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting" and ASU 2021-01, "Reference Rate Reform: Scope"

Warehouse Receivables & Warehou

Warehouse Receivables & Warehouse Lines of Credit	3 Months Ended
	Mar. 31, 2021
Warehouse Receivables And Warehouse Lines Of Credit [Abstract]
Warehouse Receivables & Warehouse Lines of Credit	Warehouse Receivables & Warehouse Lines of Credit Our wholly-owned subsidiary CBRE Capital Markets, Inc. (CBRE Capital Markets) is a Federal Home Loan Mortgage Corporation (Freddie Mac) approved Multifamily Program Plus Seller/Servicer and an approved Federal National Mortgage Association (Fannie Mae) Aggregation and Negotiated Transaction Seller/Servicer. In addition, CBRE Capital Markets’ wholly-owned subsidiary CBRE Multifamily Capital, Inc. (CBRE MCI) is an approved Fannie Mae Delegated Underwriting and Servicing (DUS) Seller/Servicer and CBRE Capital Markets’ wholly-owned subsidiary CBRE HMF, Inc. (CBRE HMF) is a U.S. Department of Housing and Urban Development (HUD) approved Non-Supervised Federal Housing Authority (FHA) Title II Mortgagee, an approved Multifamily Accelerated Processing (MAP) lender and an approved Government National Mortgage Association (Ginnie Mae) issuer of mortgage-backed securities (MBS). Under these arrangements, before loans are originated through proceeds from warehouse lines of credit, we obtain either a contractual loan purchase commitment from either Freddie Mac or Fannie Mae or a confirmed forward trade commitment for the issuance and purchase of a Fannie Mae or Ginnie Mae MBS that will be secured by the loans. The warehouse lines of credit are generally repaid within a one-month period when Freddie Mac or Fannie Mae buys the loans or upon settlement of the Fannie Mae or Ginnie Mae MBS, while we retain the servicing rights. Loans are funded at the prevailing market rates. We elect the fair value option for all warehouse receivables. At March 31, 2021 and December 31, 2020, all of the warehouse receivables included in the accompanying consolidated balance sheets were either under commitment to be purchased by Freddie Mac or had confirmed forward trade commitments for the issuance and purchase of Fannie Mae or Ginnie Mae mortgage-backed securities that will be secured by the underlying loans. A rollforward of our warehouse receivables is as follows (dollars in thousands): Beginning balance at December 31, 2020 $ 1,411,170 Origination of mortgage loans 3,909,261 Gains (premiums on loan sales) 25,696 Proceeds from sale of mortgage loans: Sale of mortgage loans (4,617,989) Cash collections of premiums on loan sales (25,696) Proceeds from sale of mortgage loans (4,643,685) Net decrease in mortgage servicing rights included in warehouse receivables (16,125) Ending balance at March 31, 2021 $ 686,317 The following table is a summary of our warehouse lines of credit in place as of March 31, 2021 and December 31, 2020 (dollars in thousands): March 31, 2021 December 31, 2020 Lender Current Pricing Maximum Carrying Maximum Carrying JP Morgan Chase Bank, N.A. (JP Morgan) (1) 10/18/2021 daily floating rate LIBOR plus 1.60% $ 985,000 $ 370,054 $ 1,585,000 $ 561,726 JP Morgan 10/18/2021 daily floating rate LIBOR plus 2.75% 15,000 899 15,000 — Fannie Mae Multifamily As Soon As Pooled Plus Agreement and Multifamily As Soon As Pooled Sale Agreement (ASAP) Program (5) Cancelable daily one-month LIBOR plus 1.45%, with a LIBOR floor of 0.25% 650,000 85,530 450,000 132,692 TD Bank, N.A. (TD Bank) (2) 6/30/2021 daily floating rate LIBOR plus 1.15% 800,000 94,164 800,000 401,849 Bank of America, N.A. (BofA) (3) 5/26/2021 — 350,000 89,949 350,000 175,862 MUFG Union Bank, N.A. (Union Bank) (4) 6/28/2021 daily floating rate LIBOR plus 1.50% with a LIBOR floor of 0.25% 200,000 34,877 300,000 111,835 $ 3,000,000 $ 675,473 $ 3,500,000 $ 1,383,964 _______________________________ (1) Effective October 19, 2020, this facility was amended and the maximum facility size was temporarily increased to $1,585.0 million, and reverted back to $985.0 million on January 18, 2021. (2) Effective July 1, 2020, this facility was amended and provides for a maximum aggregate principal amount of $400.0 million, in addition to an uncommitted $400.0 million temporary line of credit. As of March 31, 2021, the uncommitted $400.0 million temporary line of credit was not utilized. (3) The total commitment amount of $350.0 million includes a separate sublimit borrowing in the amount of $100.0 million, which can be utilized for specific purposes as defined within the agreement. As of March 31, 2021, the sublimit borrowing has not been utilized. (4) On June 28, 2019, we added a new warehouse facility for $200.0 million that contains an accordion feature which allowed for temporary increases not to exceed an additional $150.0 million. If utilized, the additional borrowings must be in predefined multiples and are not to occur more than 3 times within 12 consecutive months. Effective August 4, 2020, this facility was amended and decreased the accordion feature from $150.0 million to $100.0 million, with no changes to the predefined borrowing multiples. On September 22, 2020, the temporary increase of $100.0 million was utilized and expired on January 20, 2021. (5) Effective January 15, 2021, the maximum facility was temporarily increased to $650.0 million. During the three months ended March 31, 2021, we had a maximum of $2.1 billion of warehouse lines of credit principal outstanding.

Variable Interest Entities (VIE

Variable Interest Entities (VIEs)	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Variable Interest Entities (VIEs)	Variable Interest Entities (VIEs) We hold variable interests in certain VIEs in our Real Estate Investments segment which are not consolidated as it was determined that we are not the primary beneficiary. Our involvement with these entities is in the form of equity co-investments and fee arrangements. As of March 31, 2021 and December 31, 2020, our maximum exposure to loss related to VIEs which are not consolidated was as follows (dollars in thousands): March 31, December 31, Investments in unconsolidated subsidiaries $ 85,291 $ 66,947 Other current assets 4,219 4,219 Co-investment commitments 50,291 47,957 Maximum exposure to loss $ 139,801 $ 119,123

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Topic 820 of the FASB ASC defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Topic 820 also establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. There have been no significant changes to the valuation techniques and inputs used to develop the recurring fair value measurements from those disclosed in our 2020 Annual Report . The following tables present the fair value of assets measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020 (dollars in thousands): As of March 31, 2021 Fair Value Measured and Recorded Using Level 1 Level 2 Level 3 Total Assets Available for sale securities: Debt securities: U.S. treasury securities $ 7,115 $ — $ — $ 7,115 Debt securities issued by U.S. federal agencies — 9,489 — 9,489 Corporate debt securities — 50,514 — 50,514 Asset-backed securities — 3,791 — 3,791 Collateralized mortgage obligations — 1,369 — 1,369 Total available for sale debt securities 7,115 65,163 — 72,278 Equity securities 44,592 — — 44,592 Investments in unconsolidated subsidiaries — — 216,939 216,939 Warehouse receivables — 686,317 — 686,317 Total assets at fair value $ 51,707 $ 751,480 $ 216,939 $ 1,020,126 As of December 31, 2020 Fair Value Measured and Recorded Using Level 1 Level 2 Level 3 Total Assets Available for sale securities: Debt securities: U.S. treasury securities $ 7,270 $ — $ — $ 7,270 Debt securities issued by U.S. federal agencies — 10,216 — 10,216 Corporate debt securities — 51,244 — 51,244 Asset-backed securities — 3,801 — 3,801 Collateralized mortgage obligations — 1,369 — 1,369 Total available for sale debt securities 7,270 66,630 — 73,900 Equity securities 43,334 — — 43,334 Investments in unconsolidated subsidiaries — — 50,000 50,000 Warehouse receivables — 1,411,170 — 1,411,170 Total assets at fair value $ 50,604 $ 1,477,800 $ 50,000 $ 1,578,404 We classify one investment as level 3 in the fair value hierarchy which represents an investment in a non-public entity where we elected the fair value option. The carrying value is deemed to approximate the fair value of this investment due to the proximity of the investment date to the balance sheet dates as well as investee-level performance updates. As of March 31, 2021, and December 31, 2020, investments in unconsolidated subsidiaries at fair value using NAV were $92.8 million and $66.3 million, respectively. These investments fall under practical expedient rules that do not require them to be included in the fair value hierarchy and as a result have been excluded from the tables above. There were no significant non-recurring fair value measurements recorded during the three months ended March 31, 2021. The following non-recurring fair value measurements were recorded for the three months ended March 31, 2020 (dollars in thousands): Net Carrying Value as of March 31, 2020 Fair Value Measured and Total Impairment Charges for the Three Months Ended March 31, 2020 Level 1 Level 2 Level 3 Property and equipment $ 10,185 $ — $ — $ 10,185 $ 21,663 Goodwill 418,861 — — 418,861 25,000 Other intangible assets 13,403 — — 13,403 28,508 Total $ 442,449 $ — $ — $ 442,449 $ 75,171 During the three months ended March 31, 2020, we recorded $50.2 million of non-cash asset impairment charges in our Global Workplace Solutions segment and a non-cash goodwill impairment charge of $25.0 million in our Real Estate Investments segment. Primarily as a result of the recent global economic disruption and uncertainty due to Covid-19, we deemed there to be triggering events in the first quarter of 2020 that required testing of goodwill and certain assets for impairment at that time. Based on these tests, we recorded the aforementioned non-cash impairment charges, which were primarily driven by lower anticipated cash flows in certain businesses directly resulting from a downturn in forecasts as well as increased forecast risk due to Covid-19 and changes in our business going forward. These asset impairment charges were included within the line item “Asset impairments” in the accompanying consolidated statements of operations. The fair value measurements employed for our impairment evaluations were based on a discounted cash flow approach. Inputs used in these evaluations included risk-free rates of return, estimated risk premiums, terminal growth rates, working capital assumptions, income tax rates as well as other economic variables. FASB ASC Topic 825, “Financial Instruments” requires disclosure of fair value information about financial instruments, whether or not recognized in the accompanying consolidated balance sheets. Our financial instruments are as follows: • Cash and Cash Equivalents and Restricted Cash – These balances include cash and cash equivalents as well as restricted cash with maturities of less than three months. The carrying amount approximates fair value due to the short-term maturities of these instruments. • Receivables, less Allowance for Doubtful Accounts – Due to their short-term nature, fair value approximates carrying value. • Warehouse Receivables – These balances are carried at fair value. The primary source of value is either a contractual purchase commitment from Freddie Mac or a confirmed forward trade commitment for the issuance and purchase of a Fannie Mae or Ginnie Mae MBS (see Note 3). • Investments in Unconsolidated Subsidiaries – A portion of these investments are carried at fair value as discussed above. • Available for Sale Debt Securities – Primarily held by our wholly-owned captive insurance company, these investments are carried at their fair value. • Equity Securities – Primarily held by our wholly-owned captive insurance company, these investments are carried at their fair value. • Investments Held in Trust - special purpose acquisition company – Funds received as part of the initial public offering of CBRE Acquisition Holdings, Inc. have been deposited in an interest-bearing U.S. based trust account. The funds will be invested only in specified U.S. government treasury bills with a maturity of 180 days or less or in money market funds. The carrying amount approximates fair value due to the short-term maturities of these instruments. • Short-Term Borrowings – The majority of this balance represents outstanding amounts under our warehouse lines of credit of our wholly-owned subsidiary, CBRE Capital Markets, and our revolving credit facility. Due to the short-term nature and variable interest rates of these instruments, fair value approximates carrying value (see Notes 3 and 8). • Senior Term Loans – Based upon information from third-party banks (which falls within Level 2 of the fair value hierarchy), the estimated fair value of our senior term loans was approximately $757.3 million and $772.2 million at March 31, 2021 and December 31, 2020, respectively. Their actual carrying value, net of unamortized debt issuance costs, totaled $766.3 million and $785.7 million at March 31, 2021 and December 31, 2020, respectively (see Note 8). • Senior Notes

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	GoodwillWe test each of our reporting units for goodwill impairment annually at October 1st, or upon a triggering event, in accordance with ASC Topic 350, “Intangibles – Goodwill and Other.” As of January 1, 2021, we underwent an internal reorganization in our Advisory Services and Global Workplace Solutions reportable segments (see Note 14 for further discussion). This changed the composition of our reporting units which resulted in the reallocation of $101.4 million of goodwill from our Advisory Services to our Global Workplace Solutions reportable segments as of January 1, 2021. Additionally, the change in composition of our reporting units was considered a triggering event for a quantitative test as of January 1, 2021. We determined that no impairment existed as the estimated fair values of our reporting units were in excess of their respective carrying values.

Investments in Unconsolidated S

Investments in Unconsolidated Subsidiaries	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Subsidiaries	Investments in Unconsolidated Subsidiaries Investments in unconsolidated subsidiaries are accounted for under the equity method of accounting. Our investment ownership percentages in equity method investments vary, generally ranging up to 50.0%. Combined condensed financial information for the entities accounted for using the equity method is as follows (dollars in thousands): Three Months Ended 2021 2020 Revenue $ 555,856 $ 411,251 Operating income 275,462 174,534 Net income 368,217 104,528 The company made a $50.0 million non-controlling investment in Industrious National Management Company LLC (“Industrious”) in the fourth quarter of 2020. On February 19, 2021, the company made an additional non-controlling investment in Industrious, for approximately $150.0 million in exchange for primary and secondary shares, as well as shares issued in anticipation of Industrious closing on the integration of Hana in the second quarter of 2021. Following this transaction, CBRE holds a 35% interest in Industrious. In addition, CBRE has entered into a series of agreements to acquire additional shares, whereby the company will increase its interest in Industrious from 35% to 40%.

Long-Term Debt and Short-Term B

Long-Term Debt and Short-Term Borrowings	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Long-Term Debt and Short-Term Borrowings	Long-Term Debt and Short-Term Borrowings Long-Term Debt Long-term debt consists of the following (dollars in thousands): March 31, December 31, Senior term loans, with interest ranging from 0.75% to 1.15%, due quarterly through 2024 $ 769,098 $ 788,759 4.875% senior notes due in 2026, net of unamortized discount 597,579 597,470 2.500% senior notes due in 2031, net of unamortized discount 492,279 — Other 1,402 1,514 Total long-term debt 1,860,358 1,387,743 Less: current maturities of long-term debt 1,402 1,514 Less: unamortized debt issuance costs 10,610 6,027 Total long-term debt, net of current maturities $ 1,848,346 $ 1,380,202 We maintain credit facilities with third-party lenders, which we use for a variety of purposes. On March 4, 2019, CBRE Services, Inc. (CBRE Services) entered into an incremental assumption agreement with respect to its credit agreement, dated October 31, 2017 (such agreement, as amended by a December 20, 2018 incremental loan assumption agreement and such March 4, 2019 incremental assumption agreement, collectively, the 2019 Credit Agreement), which (i) extended the maturity of the U.S. dollar tranche A term loans under such credit agreement, (ii) extended the termination date of the revolving credit commitments available under such credit agreement and (iii) made certain changes to the interest rates and fees applicable to such tranche A term loans and revolving credit commitments under such credit agreement. The proceeds from the new tranche A term loan facility under the 2019 Credit Agreement were used to repay the $300.0 million of tranche A term loans outstanding under the credit agreement in effect prior to the entry into the 2019 incremental assumption agreement. The 2019 Credit Agreement is a senior unsecured credit facility that is jointly and severally guaranteed by us and certain of our subsidiaries. As of March 31, 2021, the 2019 Credit Agreement provided for the following: (1) a $2.8 billion incremental revolving credit facility, which includes the capacity to obtain letters of credit and swingline loans and terminates on March 4, 2024; (2) a $300.0 million incremental tranche A term loan facility maturing on March 4, 2024, requiring quarterly principal payments unless our leverage ratio (as defined in the 2019 Credit Agreement) is less than or equal to 2.50 to 1.00 on the last day of the fiscal quarter immediately preceding any such payment date and (3) a €400.0 million term loan facility due and payable in full at maturity on December 20, 2023. On August 13, 2015, CBRE Services issued $600.0 million in aggregate principal amount of 4.875% senior notes due March 1, 2026 at a price equal to 99.24% of their face value. The 4.875% senior notes are unsecured obligations of CBRE Services, senior to all of its current and future subordinated indebtedness, but effectively subordinated to all of its current and future secured indebtedness. The 4.875% senior notes are jointly and severally guaranteed on a senior basis by us and each domestic subsidiary of CBRE Services that guarantees our 2019 Credit Agreement. Interest accrues at a rate of 4.875% per year and is payable semiannually in arrears on March 1 and September 1. On March 18, 2021, CBRE Services issued $500.0 million in aggregate principal amount of 2.500% senior notes due April 1, 2031 at a price equal to 98.451% of their face value (the 2.500% senior notes). The 2.500% senior notes are unsecured obligations of CBRE Services, senior to all of its current and future subordinated indebtedness, but effectively subordinated to all of its current and future secured indebtedness. Interest accrues at a rate of 2.500% per year and is payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2021. The 2.500% senio r notes are redeemable at our option, in whole or in part, on or after January 1, 2031 at a redemption price of 100% of the principal amount on that date, plus accrued and unpaid interest, if any, to, but excluding the date of redemption. At any time prior to January 1, 2031, we may redeem all or a portion of the notes at a redemption price equal to the greater of (1) 100% of the principal amount of the notes to be redeemed and (2) the sum of the present value at the date of redemption of the remaining scheduled payments of principal and interest thereon to January 1, 2031, assuming the notes matured on January 1, 2031, discounted to the date of redemption on a semi-annual basis at an adjusted rate equal to the treasury rate plus 20 basis points, minus accrued and unpaid interest to, but excluding, the date of redemption, plus, in either case, accrued and unpaid interest, if any, to, but not including the redemption date. The amount of the 2.500% senior notes, net of unamortized discount and unamortized debt issuance costs, included in the accompanying consolidated balance sheet was $487.3 million at March 31, 2021. The indentures governing our 4.875% senior notes and 2.500% senior notes contain restrictive covenants that, among other things, limit our ability to create or permit liens on assets securing indebtedness, enter into sale/leaseback transactions and enter into consolidations or mergers. In addition, these indentures require that the 4.875% senior notes and 2.500% senior notes be jointly and severally guaranteed on a senior basis by CBRE Group, Inc. and each domestic subsidiary of CBRE Services that guarantees our 2019 Credit Agreement. In addition, our 2019 Credit Agreement also requires us to maintain a minimum coverage ratio of consolidated EBITDA (as defined in the 2019 Credit Agreement) to consolidated interest expense of 2.00x and a maximum leverage ratio of total debt less available cash to consolidated EBITDA (as defined in the 2019 Credit Agreement) of 4.25x (and in the case of the first four full fiscal quarters following consummation of a qualified acquisition (as defined in the 2019 Credit Agreement), 4.75x) as of the end of each fiscal quarter. On this basis, our coverage ratio of consolidated EBITDA to consolidated interest expense was 30.61x for the trailing twelve months ended March 31, 2021, and our leverage ratio of total debt less available cash to consolidated EBITDA was 0.07x as of March 31, 2021. Short-Term Borrowings Revolving Credit Facility The revolving credit facility under the 2019 Credit Agreement allows for borrowings outside of the U.S., with a $200.0 million sub-facility available to CBRE Services, one of our Canadian subsidiaries, one of our Australian subsidiaries and one of our New Zealand subsidiaries and a $300.0 million sub-facility available to CBRE Services and one of our U.K. subsidiaries. Borrowings under the revolving credit facility bear interest at varying rates, based at our option, on either (1) the applicable fixed rate plus 0.680% to 1.075% or (2) the daily rate plus 0.0% to 0.075%, in each case as determined by reference to our Credit Rating (as defined in the 2019 Credit Agreement). The 2019 Credit Agreement requires us to pay a fee based on the total amount of the revolving credit facility commitment (whether used or unused). As of March 31, 2021, no amount was outstanding under the revolving credit facility other than letters of credit totaling $2.0 million. These letters of credit, which reduce the amount we may borrow under the revolving credit facility, were primarily issued in the ordinary course of business. Warehouse Lines of Credit CBRE Capital Markets has warehouse lines of credit with third-party lenders for the purpose of funding mortgage loans that will be resold, and a funding arrangement with Fannie Mae for the purpose of selling a percentage of certain closed multifamily loans to Fannie Mae. These warehouse lines are recourse only to CBRE Capital Markets and are secured by our related warehouse receivables. See Note 3 for additional information.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	Leases We are the lessee in contracts for our office space tenancies, for leased vehicles and for our wholly-owned subsidiary Hana. These arrangements account for the significant portion of our lease liabilities and right-of-use assets. We monitor our service arrangements to evaluate whether they meet the definition of a lease. Supplemental balance sheet information related to our leases is as follows (dollars in thousands): Category Classification March 31, December 31, Assets Operating Operating lease assets $ 1,000,729 $ 1,020,352 Financing Other assets, net 114,503 117,805 Total leased assets $ 1,115,232 $ 1,138,157 Liabilities Current: Operating Operating lease liabilities $ 206,772 $ 208,526 Financing Other current liabilities 35,896 39,298 Non-current: Operating Non-current operating lease liabilities 1,090,740 1,116,795 Financing Other liabilities 78,473 78,881 Total lease liabilities $ 1,411,881 $ 1,443,500 Supplemental cash flow information and non-cash activity related to our operating and finance leases are as follows (dollars in thousands): Three Months Ended 2021 2020 Right-of-use assets obtained in exchange for new operating lease liabilities $ 24,214 $ 61,310 Right-of-use assets obtained in exchange for new financing lease liabilities 10,448 14,683 Other non-cash increases in operating lease right-of-use assets (1) 5,940 6,888 Other non-cash decreases in financing lease right-of-use assets (1) (1,563) (517) _______________________________ (1) The non-cash activity in the right-of-use assets resulted from lease modifications and remeasurements.
Leases	Leases We are the lessee in contracts for our office space tenancies, for leased vehicles and for our wholly-owned subsidiary Hana. These arrangements account for the significant portion of our lease liabilities and right-of-use assets. We monitor our service arrangements to evaluate whether they meet the definition of a lease. Supplemental balance sheet information related to our leases is as follows (dollars in thousands): Category Classification March 31, December 31, Assets Operating Operating lease assets $ 1,000,729 $ 1,020,352 Financing Other assets, net 114,503 117,805 Total leased assets $ 1,115,232 $ 1,138,157 Liabilities Current: Operating Operating lease liabilities $ 206,772 $ 208,526 Financing Other current liabilities 35,896 39,298 Non-current: Operating Non-current operating lease liabilities 1,090,740 1,116,795 Financing Other liabilities 78,473 78,881 Total lease liabilities $ 1,411,881 $ 1,443,500 Supplemental cash flow information and non-cash activity related to our operating and finance leases are as follows (dollars in thousands): Three Months Ended 2021 2020 Right-of-use assets obtained in exchange for new operating lease liabilities $ 24,214 $ 61,310 Right-of-use assets obtained in exchange for new financing lease liabilities 10,448 14,683 Other non-cash increases in operating lease right-of-use assets (1) 5,940 6,888 Other non-cash decreases in financing lease right-of-use assets (1) (1,563) (517) _______________________________

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are a party to a number of pending or threatened lawsuits arising out of, or incident to, our ordinary course of business. We believe that any losses in excess of the amounts accrued therefore as liabilities on our financial statements are unlikely to be significant, but litigation is inherently uncertain and there is the potential for a material adverse effect on our financial statements if one or more matters are resolved in a particular period in an amount materially in excess of what we anticipated. In January 2008, CBRE MCI, a wholly-owned subsidiary of CBRE Capital Markets, entered into an agreement with Fannie Mae under Fannie Mae’s Delegated Underwriting and Servicing Lender Program (DUS Program), to provide financing for multifamily housing with five or more units. Under the DUS Program, CBRE MCI originates, underwrites, closes and services loans without prior approval by Fannie Mae, and typically, is subject to sharing up to one-third of any losses on loans originated under the DUS Program. CBRE MCI has funded loans with unpaid principal balances of $34.1 billion at March 31, 2021, of which $29.5 billion was subject to such loss sharing arrangements. CBRE MCI, under its agreement with Fannie Mae, must post cash reserves or other acceptable collateral under formulas established by Fannie Mae to provide for sufficient capital in the event losses occur. As of both March 31, 2021 and December 31, 2020, CBRE MCI had a $95.0 million letter of credit under this reserve arrangement and had recorded a liability of approximately $58.8 million and $57.1 million, respectively, for its loan loss guarantee obligation under such arrangement. Fannie Mae’s recourse under the DUS Program is limited to the assets of CBRE MCI, which assets totaled approximately $677.5 million (including $194.3 million of warehouse receivables, a substantial majority of which are pledged against warehouse lines of credit and are therefore not available to Fannie Mae) at March 31, 2021. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in the United States in response to the Covid-19 pandemic. The CARES Act, among other things, permits borrowers with government-backed mortgages from Government Sponsored Enterprises who are experiencing a financial hardship to obtain forbearance of their loans. For Fannie Mae loans that we service, CBRE MCI is obligated to advance (for a forbearance period up to 90 consecutive days and potentially longer) scheduled principal and interest payments to Fannie Mae, regardless of whether the borrowers actually make the payments. These advances are reimbursable by Fannie Mae after 120 days. As of March 31, 2021, total advances for principal and interest were $7.7 million, of which $5.5 million have already been reimbursed. CBRE Capital Markets participates in Freddie Mac’s Multifamily Small Balance Loan (SBL) Program. Under the SBL program, CBRE Capital Markets has certain repurchase and loss reimbursement obligations. We could potentially be obligated to repurchase any SBL loan originated by CBRE Capital Markets that remains in default for 120 days following the forbearance period, if the default occurred during the first 12 months after origination and such loan had not been earlier securitized. In addition, CBRE Capital Markets may be responsible for a loss not to exceed 10% of the original principal amount of any SBL loan that is not securitized and goes into default after the 12-month repurchase period. CBRE Capital Markets must post a cash reserve or other acceptable collateral to provide for sufficient capital in the event the obligations are triggered. As of both March 31, 2021 and December 31, 2020, CBRE Capital Markets had posted a $5.0 million letter of credit under this reserve arrangement. We had outstanding letters of credit totaling $144.0 million as of March 31, 2021, excluding letters of credit for which we have outstanding liabilities already accrued on our consolidated balance sheet related to our subsidiaries’ outstanding reserves for claims under certain insurance programs as well as letters of credit related to operating leases. The CBRE Capital Markets letters of credit totaling $95.0 million as of March 31, 2021 referred to in the preceding paragraphs represented the majority of the $144.0 million outstanding letters of credit as of such date. The remaining letters of credit are primarily executed by us in the ordinary course of business and expire at at the end of each of the respective agreements. We had guarantees totaling $42.1 million as of March 31, 2021, excluding guarantees related to pension liabilities, consolidated indebtedness and other obligations for which we have outstanding liabilities already accrued on our consolidated balance sheet, and excluding guarantees related to operating leases. The $42.1 million primarily represents guarantees executed by us in the ordinary course of business, including various guarantees of management and vendor contracts in our operations overseas, which expire at the end of each of the respective agreements. In addition, as of March 31, 2021, we had issued numerous non-recourse carveout, completion and budget guarantees relating to development projects for the benefit of third parties. These guarantees are commonplace in our industry and are made by us in the ordinary course of our Real Estate Investments business. Non-recourse carveout guarantees generally require that our project-entity borrower not commit specified improper acts, with us potentially liable for all or a portion of such entity’s indebtedness or other damages suffered by the lender if those acts occur. Completion and budget guarantees generally require us to complete construction of the relevant project within a specified timeframe and/or within a specified budget, with us potentially being liable for costs to complete in excess of such timeframe or budget. While there can be no assurance, we do not expect to incur any material losses under these guarantees. An important part of the strategy for our Real Estate Investments business involves investing our capital in certain real estate investments with our clients. These co-investments generally total up to 2.0% of the equity in a particular fund. As of March 31, 2021, we had aggregate commitments of $91.1 million to fund these future co-investments. Additionally, an important part of our Real Estate Investments business strategy is to invest in unconsolidated real estate subsidiaries as a principal (in most cases co-investing with our clients). As of March 31, 2021, we had committed to fund $31.3 million of additional capital to these unconsolidated subsidiaries.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our provision for income taxes on a consolidated basis was $76.3 million for the three months ended March 31, 2021 as compared to $51.2 million for the three months ended March 31, 2020. The increase of $25.1 million is primarily related to the corresponding increase in our consolidated pre-tax book income. Our effective tax rate decreased to 22.1% for the three months ended March 31, 2021 from 22.8% for the three months ended March 31, 2020 primarily resulting from the release of valuation allowance. Our effective tax rate for the three months ended March 31, 2021 was not significantly different than the U.S. federal statutory tax rate of 21.0%. As of March 31, 2021, the company had gross unrecognized tax benefits of $166.8 million; a net decrease of $1.7 million was recorded for the three months ended March 31, 2021. The net decrease of $1.7 million primarily resulted from an accrual of gross unrecognized tax benefits of $3.1 million and a release of $4.8 million of gross unrecognized tax benefits primarily related to the expiration of statute of limitations in various tax jurisdictions. The CARES Act has not had, nor is it expected to have, a significant impact on our effective tax rate for 2021.

Income Per Share and Stockholde

Income Per Share and Stockholders' Equity	3 Months Ended
	Mar. 31, 2021
Earnings Per Share And Stockholders Equity [Abstract]
Income Per Share and Stockholders' Equity	Income Per Share and Stockholders' Equity The calculations of basic and diluted income per share attributable to CBRE Group, Inc. stockholders are as follows (dollars in thousands, except share and per share data): Three Months Ended 2021 2020 Basic Income Per Share Net income attributable to CBRE Group, Inc. stockholders $ 266,202 $ 172,195 Weighted average shares outstanding for basic income per share 335,860,494 334,969,826 Basic income per share attributable to CBRE Group, Inc. stockholders $ 0.79 $ 0.51 Diluted Income Per Share Net income attributable to CBRE Group, Inc. stockholders $ 266,202 $ 172,195 Weighted average shares outstanding for basic income per share 335,860,494 334,969,826 Dilutive effect of contingently issuable shares 3,720,010 4,768,085 Weighted average shares outstanding for diluted income per share 339,580,504 339,737,911 Diluted income per share attributable to CBRE Group, Inc. stockholders $ 0.78 $ 0.51 For the three months ended March 31, 2021 and 2020, 481,341 and 341,359, respectively, of contingently issuable shares were excluded from the computation of diluted income per share because their inclusion would have had an anti-dilutive effect. In February 2019, our board of directors authorized a new program for the repurchase of up to $300.0 million of our common stock over three years, effective March 11, 2019. In both August and November 2019, our board of directors authorized an additional $100.0 million under our program, bringing the total authorized repurchase amount under the program to a total of $500.0 million. During the year ended December 31, 2020, we spent $50.0 million to repurchase 1,050,084 shares of our common stock at an average price of $47.62 per share using cash on hand. During the three months ended March 31, 2021, we spent $64.1 million to repurchase an additional 831,274 shares of our common stock with an average price of $77.15 per share using cash on hand. As of March 31, 2021, we had $285.9 million of capacity remaining under our stock repurchase program.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers We account for revenue with customers in accordance with FASB ASC Topic, “ Revenue from Contracts with Customers ” (Topic 606). Revenue is recognized when or as control of the promised services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to receive in exchange for those services. Disaggregated Revenue The following tables represent a disaggregation of revenue from contracts with customers by type of service and/or segment (dollars in thousands): Three Months Ended March 31, 2021 Advisory Global Real Estate Corporate, other and eliminations Consolidated Topic 606 Revenue: Facilities management $ — $ 3,479,501 $ — $ — $ 3,479,501 Advisory leasing 520,216 — — — 520,216 Advisory sales 392,312 — — — 392,312 Property management 427,188 — — (6,145) 421,043 Project management — 546,382 — — 546,382 Valuation 159,590 — — — 159,590 Commercial mortgage origination (1) 33,751 — — — 33,751 Loan servicing (2) 15,388 — — — 15,388 Investment management — — 132,071 — 132,071 Development services — — 78,178 — 78,178 Topic 606 Revenue 1,548,445 4,025,883 210,249 (6,145) 5,778,432 Out of Scope of Topic 606 Revenue: Commercial mortgage origination 106,113 — — — 106,113 Loan servicing 53,454 — — — 53,454 Development services (3) — — 880 — 880 Total Out of Scope of Topic 606 Revenue 159,567 — 880 — 160,447 Total revenue $ 1,708,012 $ 4,025,883 $ 211,129 $ (6,145) $ 5,938,879 Three Months Ended March 31, 2020 Advisory Services (4) Global Workplace Solutions (4) Real Estate Corporate, other and eliminations (4) Consolidated Topic 606 Revenue: Facilities management $ — $ 3,335,793 $ — $ — $ 3,335,793 Advisory leasing 625,028 — — (3,946) 621,082 Advisory sales 431,669 — — — 431,669 Property management 418,481 — — (5,572) 412,909 Project management — 548,736 — — 548,736 Valuation 147,738 — — — 147,738 Commercial mortgage origination (1) 37,889 — — — 37,889 Loan servicing (2) 11,409 — — — 11,409 Investment management — — 121,678 — 121,678 Development services — — 76,226 — 76,226 Topic 606 Revenue 1,672,214 3,884,529 197,904 (9,518) 5,745,129 Out of Scope of Topic 606 Revenue: Commercial mortgage origination 85,202 — — — 85,202 Loan servicing 45,271 — — — 45,271 Development services (3) — — 13,566 — 13,566 Total Out of Scope of Topic 606 Revenue 130,473 — 13,566 — 144,039 Total revenue $ 1,802,687 $ 3,884,529 $ 211,470 $ (9,518) $ 5,889,168 _______________________________ (1) We earn fees for arranging financing for borrowers with third-party lender contacts. Such fees are in scope of Topic 606. (2) Loan servicing fees earned from servicing contracts for which we do not hold mortgage servicing rights are in scope of Topic 606. (3) Out of scope revenue for development services represents selling profit from transfers of sales-type leases in the scope of Topic 842 (4) Prior period segment results for all of our reportable segments have been recast to conform to the changes as discussed in Note 14. Contract Assets and Liabilities We had contract assets totaling $449.2 million ($313.6 million of which was current) and $471.8 million ($318.2 million of which was current) as of March 31, 2021 and December 31, 2020, respectively. We had contract liabilities totaling $177.4 million ($174.4 million of which was current) and $164.1 million ($162.0 million of which was current) as of March 31, 2021 and December 31, 2020, respectively. During the three months ended March 31, 2021, we recognized revenue of $136.6 million that was included in the contract liability balance at December 31, 2020.

Segments

Segments	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segments	Segments We organize our operations around, and publicly report our financial results on, three global business segments: (1) Advisory Services; (2) Global Workplace Solutions and (3) Real Estate Investments. Effective January 1, 2021, we have realigned our organizational structure and performance measure to how our chief operating decision maker (CODM) views the company. This includes a “Corporate, other and elimination” component and a segment measurement of profit and loss referred to as segment operating profit. Advisory Services provides a comprehensive range of services globally, including property leasing, property sales, mortgage services, property management, and valuation. Global Workplace Solutions provides a broad suite of integrated, contractually-based outsourcing services to occupiers of real estate, including facilities management and project management. Effective January 1, 2021, transaction services was fully moved under the Advisory Services segment and project management was fully moved under the Global Workplace Solutions segment. Previously transaction services and project management were split between the Global Workplace Solutions segment and the Advisory Services segment. Real Estate Investments includes: (i) investment management services provided globally; (ii) development services in the U.S. and U.K. and (iii) flexible office space solutions. Corporate and other includes activities not attributed to our core business, primarily consisting of corporate headquarters costs for executive officers and certain other central functions, as well as certain strategic equity investments. These costs, which were previously allocated to the business segments on a reasonable basis, are no longer allocated and are reported under Corporate and other. It also includes eliminations related to inter-segment revenue. Prior period segment results for all of our reportable segments have been recast to conform to the above changes. Segment operating profit is the measure reported to the CODM for purposes of making decisions about allocating resources to each segment and assessing performance of each segment. Segment operating profit represents earnings before net interest expense, write-off of financing costs on extinguished debt, income taxes, depreciation and amortization and asset impairments, as well as adjustments related to the following: certain carried interest incentive compensation expense (reversal) to align with the timing of associated revenue, fair value adjustments to real estate acquired in the Telford Acquisition (purchase accounting) that were sold in the period, costs incurred related to legal entity restructuring, and integration and other costs related to acquisitions. This metric excludes the impact of corporate overhead as these costs are now reported under Corporate and other. Summarized financial information by segment is as follows (dollars in thousands): Three Months Ended 2021 2020 Revenue Advisory Services $ 1,708,012 $ 1,802,687 Global Workplace Solutions 4,025,883 3,884,529 Real Estate Investments 211,129 211,470 Corporate, other and eliminations (6,145) (9,518) Total revenue 5,938,879 5,889,168 Segment operating profit Advisory Services $ 332,300 $ 332,965 Global Workplace Solutions 152,177 106,967 Real Estate Investments 60,577 43,021 Total reportable segment operating profit $ 545,054 $ 482,953 Reconciliation of total reportable segment operating profit to net income is as follows (dollars in thousands): Three Months Ended 2021 2020 Net income attributable to CBRE Group, Inc. $ 266,202 $ 172,195 Adjustments to increase (decrease) net income: Depreciation and amortization 122,078 113,794 Asset impairments — 75,171 Interest expense, net of interest income 10,106 16,016 Provision for income taxes 76,327 51,182 Carried interest incentive compensation expense (reversal) to align with the timing of associated revenue 15,332 (7,784) Impact of fair value adjustments to real estate assets acquired in the Telford Acquisition (purchase accounting) that were sold in period 1,099 5,753 Costs incurred related to legal entity restructuring — 3,241 Integration and other costs related to acquisitions — 783 Corporate, other and eliminations loss 53,910 52,602 Total reportable segment operating profit $ 545,054 $ 482,953 Our CODM is not provided with total asset information by segment and accordingly, does not measure or allocate total assets on a segment basis. As a result, we have not disclosed any asset information by segment. Geographic Information Revenue in the table below is allocated based upon the country in which services are performed (dollars in thousands): Three Months Ended 2021 2020 Revenue United States $ 3,348,859 $ 3,380,317 United Kingdom 777,044 737,515 All other countries 1,812,976 1,771,336 Total revenue $ 5,938,879 $ 5,889,168

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Recently Adopted Accounting Pronouncements and Recent Accounting Pronouncements Pending Adoption	Recently Adopted Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (FASB) issued ASU 2019‑12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” 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 adopted ASU 2019‑12 in the first quarter of 2021 and the adoption did not have a material impact on our consolidated financial statements and related disclosures. In January 2020, the FASB issued ASU 2020‑01, “Investments—Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815).” 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 adopted ASU 2020‑01 in the first quarter of 2021 and the adoption did not have a material impact on our consolidated financial statements and related disclosures. In October 2020, the FASB issued ASU 2020-08, “Codification Improvements to Subtopic 310-20, Receivables — Nonrefundable Fees and Other Costs.” This ASU states that an entity should reevaluate whether a callable debt security is within the scope of the Accounting Standards Codification (ASC) 310-20-35-33 for each reporting period. The ASU is not expected to have a significant effect on current practice or create a large administrative cost for most entities. The amendments stated in this ASU are intended to make ASC 310-20 easier to understand and apply. This ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those years. Early application is not permitted. We adopted ASU 2020-08 in the first quarter of 2021 and the adoption did not have a material impact on our consolidated financial statements and related disclosures. In October 2020, the FASB issued ASU 2020-09, “ Debt (Topic 470): Amendments to SEC Paragraphs Pursuant to SEC Release No. 33-10762. ” This ASU aligns the SEC paragraphs in the codification with the new SEC rules issued in March 2020 relating to changes to the disclosure requirements for certain debt securities. Certain glossary terms were superseded, and amendments were made to debt and other topics as a result of this update. On March 2, 2020, the SEC issued Release No. 33-10762 , which made significant changes to its disclosure requirements relating to certain debt securities. The new rules impact disclosures related to registered securities that are guaranteed and those that are collateralized by the securities of an affiliate. The final rules became effective on January 4, 2021. Voluntary compliance with the final amendments in advance of January 4, 2021 is permitted, hence we elected early compliance with the new rules. Because the amendments made by the FASB in this ASU are to ensure alignment of the relevant SEC paragraphs in ASC 270, ASC 460, ASC 470 and ASC 505 with the amended rules in Release No. 33-10762, the amendments made by the FASB to these SEC paragraphs will not have a material impact on our disclosures, since we already elected early compliance with the amended rules in Release No. 33-10762. In October 2020, the FASB issued ASU 2020-10, “Codification Improvements.” This ASU is intended to conform, clarify, simplify, and/or provide technical corrections to a wide variety of codification topics, including moving certain presentation and disclosure guidance to the appropriate codification section. This ASU is effective for fiscal years beginning after December 15, 2020, and interim periods within those years. Early application of the amendments is permitted for and varies based on the entity. The amendments should be applied retrospectively and at the beginning of the period that includes the adoption date. We adopted ASU 2020-10 in the first quarter of 2021 and the adoption did not have a material impact on our consolidated financial statements and related disclosures. Recent Accounting Pronouncements Pending Adoption In March 2020 and January 2021, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting" and ASU 2021-01, "Reference Rate Reform: Scope"

Warehouse Receivables & Wareh_2

Warehouse Receivables & Warehouse Lines of Credit (Tables)	3 Months Ended
	Mar. 31, 2021
Warehouse Receivables And Warehouse Lines Of Credit [Abstract]
Schedule of Warehouse Receivables	A rollforward of our warehouse receivables is as follows (dollars in thousands): Beginning balance at December 31, 2020 $ 1,411,170 Origination of mortgage loans 3,909,261 Gains (premiums on loan sales) 25,696 Proceeds from sale of mortgage loans: Sale of mortgage loans (4,617,989) Cash collections of premiums on loan sales (25,696) Proceeds from sale of mortgage loans (4,643,685) Net decrease in mortgage servicing rights included in warehouse receivables (16,125) Ending balance at March 31, 2021 $ 686,317
Summary of Warehouse Lines of Credit in Place	The following table is a summary of our warehouse lines of credit in place as of March 31, 2021 and December 31, 2020 (dollars in thousands): March 31, 2021 December 31, 2020 Lender Current Pricing Maximum Carrying Maximum Carrying JP Morgan Chase Bank, N.A. (JP Morgan) (1) 10/18/2021 daily floating rate LIBOR plus 1.60% $ 985,000 $ 370,054 $ 1,585,000 $ 561,726 JP Morgan 10/18/2021 daily floating rate LIBOR plus 2.75% 15,000 899 15,000 — Fannie Mae Multifamily As Soon As Pooled Plus Agreement and Multifamily As Soon As Pooled Sale Agreement (ASAP) Program (5) Cancelable daily one-month LIBOR plus 1.45%, with a LIBOR floor of 0.25% 650,000 85,530 450,000 132,692 TD Bank, N.A. (TD Bank) (2) 6/30/2021 daily floating rate LIBOR plus 1.15% 800,000 94,164 800,000 401,849 Bank of America, N.A. (BofA) (3) 5/26/2021 — 350,000 89,949 350,000 175,862 MUFG Union Bank, N.A. (Union Bank) (4) 6/28/2021 daily floating rate LIBOR plus 1.50% with a LIBOR floor of 0.25% 200,000 34,877 300,000 111,835 $ 3,000,000 $ 675,473 $ 3,500,000 $ 1,383,964 _______________________________ (1) Effective October 19, 2020, this facility was amended and the maximum facility size was temporarily increased to $1,585.0 million, and reverted back to $985.0 million on January 18, 2021. (2) Effective July 1, 2020, this facility was amended and provides for a maximum aggregate principal amount of $400.0 million, in addition to an uncommitted $400.0 million temporary line of credit. As of March 31, 2021, the uncommitted $400.0 million temporary line of credit was not utilized. (3) The total commitment amount of $350.0 million includes a separate sublimit borrowing in the amount of $100.0 million, which can be utilized for specific purposes as defined within the agreement. As of March 31, 2021, the sublimit borrowing has not been utilized. (4) On June 28, 2019, we added a new warehouse facility for $200.0 million that contains an accordion feature which allowed for temporary increases not to exceed an additional $150.0 million. If utilized, the additional borrowings must be in predefined multiples and are not to occur more than 3 times within 12 consecutive months. Effective August 4, 2020, this facility was amended and decreased the accordion feature from $150.0 million to $100.0 million, with no changes to the predefined borrowing multiples. On September 22, 2020, the temporary increase of $100.0 million was utilized and expired on January 20, 2021. (5) Effective January 15, 2021, the maximum facility was temporarily increased to $650.0 million.

Variable Interest Entities (V_2

Variable Interest Entities (VIEs) (Tables)	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Maximum Exposure to Loss	As of March 31, 2021 and December 31, 2020, our maximum exposure to loss related to VIEs which are not consolidated was as follows (dollars in thousands): March 31, December 31, Investments in unconsolidated subsidiaries $ 85,291 $ 66,947 Other current assets 4,219 4,219 Co-investment commitments 50,291 47,957 Maximum exposure to loss $ 139,801 $ 119,123

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present the fair value of assets measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020 (dollars in thousands): As of March 31, 2021 Fair Value Measured and Recorded Using Level 1 Level 2 Level 3 Total Assets Available for sale securities: Debt securities: U.S. treasury securities $ 7,115 $ — $ — $ 7,115 Debt securities issued by U.S. federal agencies — 9,489 — 9,489 Corporate debt securities — 50,514 — 50,514 Asset-backed securities — 3,791 — 3,791 Collateralized mortgage obligations — 1,369 — 1,369 Total available for sale debt securities 7,115 65,163 — 72,278 Equity securities 44,592 — — 44,592 Investments in unconsolidated subsidiaries — — 216,939 216,939 Warehouse receivables — 686,317 — 686,317 Total assets at fair value $ 51,707 $ 751,480 $ 216,939 $ 1,020,126 As of December 31, 2020 Fair Value Measured and Recorded Using Level 1 Level 2 Level 3 Total Assets Available for sale securities: Debt securities: U.S. treasury securities $ 7,270 $ — $ — $ 7,270 Debt securities issued by U.S. federal agencies — 10,216 — 10,216 Corporate debt securities — 51,244 — 51,244 Asset-backed securities — 3,801 — 3,801 Collateralized mortgage obligations — 1,369 — 1,369 Total available for sale debt securities 7,270 66,630 — 73,900 Equity securities 43,334 — — 43,334 Investments in unconsolidated subsidiaries — — 50,000 50,000 Warehouse receivables — 1,411,170 — 1,411,170 Total assets at fair value $ 50,604 $ 1,477,800 $ 50,000 $ 1,578,404
Summary of Non-Recurring Fair Value Measurement	The following non-recurring fair value measurements were recorded for the three months ended March 31, 2020 (dollars in thousands): Net Carrying Value as of March 31, 2020 Fair Value Measured and Total Impairment Charges for the Three Months Ended March 31, 2020 Level 1 Level 2 Level 3 Property and equipment $ 10,185 $ — $ — $ 10,185 $ 21,663 Goodwill 418,861 — — 418,861 25,000 Other intangible assets 13,403 — — 13,403 28,508 Total $ 442,449 $ — $ — $ 442,449 $ 75,171

Investments in Unconsolidated_2

Investments in Unconsolidated Subsidiaries (Tables)	3 Months Ended
	Mar. 31, 2021
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Condensed Financial Information of Equity Method Investments	Combined condensed financial information for the entities accounted for using the equity method is as follows (dollars in thousands): Three Months Ended 2021 2020 Revenue $ 555,856 $ 411,251 Operating income 275,462 174,534 Net income 368,217 104,528

Long-Term Debt and Short-Term_2

Long-Term Debt and Short-Term Borrowings (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consists of the following (dollars in thousands): March 31, December 31, Senior term loans, with interest ranging from 0.75% to 1.15%, due quarterly through 2024 $ 769,098 $ 788,759 4.875% senior notes due in 2026, net of unamortized discount 597,579 597,470 2.500% senior notes due in 2031, net of unamortized discount 492,279 — Other 1,402 1,514 Total long-term debt 1,860,358 1,387,743 Less: current maturities of long-term debt 1,402 1,514 Less: unamortized debt issuance costs 10,610 6,027 Total long-term debt, net of current maturities $ 1,848,346 $ 1,380,202

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information	Supplemental balance sheet information related to our leases is as follows (dollars in thousands): Category Classification March 31, December 31, Assets Operating Operating lease assets $ 1,000,729 $ 1,020,352 Financing Other assets, net 114,503 117,805 Total leased assets $ 1,115,232 $ 1,138,157 Liabilities Current: Operating Operating lease liabilities $ 206,772 $ 208,526 Financing Other current liabilities 35,896 39,298 Non-current: Operating Non-current operating lease liabilities 1,090,740 1,116,795 Financing Other liabilities 78,473 78,881 Total lease liabilities $ 1,411,881 $ 1,443,500
Schedule of Supplemental Cash Flow Information	Supplemental cash flow information and non-cash activity related to our operating and finance leases are as follows (dollars in thousands): Three Months Ended 2021 2020 Right-of-use assets obtained in exchange for new operating lease liabilities $ 24,214 $ 61,310 Right-of-use assets obtained in exchange for new financing lease liabilities 10,448 14,683 Other non-cash increases in operating lease right-of-use assets (1) 5,940 6,888 Other non-cash decreases in financing lease right-of-use assets (1) (1,563) (517) _______________________________

Income Per Share and Stockhol_2

Income Per Share and Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share And Stockholders Equity [Abstract]
Calculations of Basic and Diluted Income Per Share	The calculations of basic and diluted income per share attributable to CBRE Group, Inc. stockholders are as follows (dollars in thousands, except share and per share data): Three Months Ended 2021 2020 Basic Income Per Share Net income attributable to CBRE Group, Inc. stockholders $ 266,202 $ 172,195 Weighted average shares outstanding for basic income per share 335,860,494 334,969,826 Basic income per share attributable to CBRE Group, Inc. stockholders $ 0.79 $ 0.51 Diluted Income Per Share Net income attributable to CBRE Group, Inc. stockholders $ 266,202 $ 172,195 Weighted average shares outstanding for basic income per share 335,860,494 334,969,826 Dilutive effect of contingently issuable shares 3,720,010 4,768,085 Weighted average shares outstanding for diluted income per share 339,580,504 339,737,911 Diluted income per share attributable to CBRE Group, Inc. stockholders $ 0.78 $ 0.51

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue from Contracts with Customers	Disaggregated Revenue The following tables represent a disaggregation of revenue from contracts with customers by type of service and/or segment (dollars in thousands): Three Months Ended March 31, 2021 Advisory Global Real Estate Corporate, other and eliminations Consolidated Topic 606 Revenue: Facilities management $ — $ 3,479,501 $ — $ — $ 3,479,501 Advisory leasing 520,216 — — — 520,216 Advisory sales 392,312 — — — 392,312 Property management 427,188 — — (6,145) 421,043 Project management — 546,382 — — 546,382 Valuation 159,590 — — — 159,590 Commercial mortgage origination (1) 33,751 — — — 33,751 Loan servicing (2) 15,388 — — — 15,388 Investment management — — 132,071 — 132,071 Development services — — 78,178 — 78,178 Topic 606 Revenue 1,548,445 4,025,883 210,249 (6,145) 5,778,432 Out of Scope of Topic 606 Revenue: Commercial mortgage origination 106,113 — — — 106,113 Loan servicing 53,454 — — — 53,454 Development services (3) — — 880 — 880 Total Out of Scope of Topic 606 Revenue 159,567 — 880 — 160,447 Total revenue $ 1,708,012 $ 4,025,883 $ 211,129 $ (6,145) $ 5,938,879 Three Months Ended March 31, 2020 Advisory Services (4) Global Workplace Solutions (4) Real Estate Corporate, other and eliminations (4) Consolidated Topic 606 Revenue: Facilities management $ — $ 3,335,793 $ — $ — $ 3,335,793 Advisory leasing 625,028 — — (3,946) 621,082 Advisory sales 431,669 — — — 431,669 Property management 418,481 — — (5,572) 412,909 Project management — 548,736 — — 548,736 Valuation 147,738 — — — 147,738 Commercial mortgage origination (1) 37,889 — — — 37,889 Loan servicing (2) 11,409 — — — 11,409 Investment management — — 121,678 — 121,678 Development services — — 76,226 — 76,226 Topic 606 Revenue 1,672,214 3,884,529 197,904 (9,518) 5,745,129 Out of Scope of Topic 606 Revenue: Commercial mortgage origination 85,202 — — — 85,202 Loan servicing 45,271 — — — 45,271 Development services (3) — — 13,566 — 13,566 Total Out of Scope of Topic 606 Revenue 130,473 — 13,566 — 144,039 Total revenue $ 1,802,687 $ 3,884,529 $ 211,470 $ (9,518) $ 5,889,168 _______________________________ (1) We earn fees for arranging financing for borrowers with third-party lender contacts. Such fees are in scope of Topic 606. (2) Loan servicing fees earned from servicing contracts for which we do not hold mortgage servicing rights are in scope of Topic 606. (3) Out of scope revenue for development services represents selling profit from transfers of sales-type leases in the scope of Topic 842 (4) Prior period segment results for all of our reportable segments have been recast to conform to the changes as discussed in Note 14.

Segments (Tables)

Segments (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Summarized Financial Information by Segment	Summarized financial information by segment is as follows (dollars in thousands): Three Months Ended 2021 2020 Revenue Advisory Services $ 1,708,012 $ 1,802,687 Global Workplace Solutions 4,025,883 3,884,529 Real Estate Investments 211,129 211,470 Corporate, other and eliminations (6,145) (9,518) Total revenue 5,938,879 5,889,168 Segment operating profit Advisory Services $ 332,300 $ 332,965 Global Workplace Solutions 152,177 106,967 Real Estate Investments 60,577 43,021 Total reportable segment operating profit $ 545,054 $ 482,953
Adjusted EBITDA Calculation by Segment	Reconciliation of total reportable segment operating profit to net income is as follows (dollars in thousands): Three Months Ended 2021 2020 Net income attributable to CBRE Group, Inc. $ 266,202 $ 172,195 Adjustments to increase (decrease) net income: Depreciation and amortization 122,078 113,794 Asset impairments — 75,171 Interest expense, net of interest income 10,106 16,016 Provision for income taxes 76,327 51,182 Carried interest incentive compensation expense (reversal) to align with the timing of associated revenue 15,332 (7,784) Impact of fair value adjustments to real estate assets acquired in the Telford Acquisition (purchase accounting) that were sold in period 1,099 5,753 Costs incurred related to legal entity restructuring — 3,241 Integration and other costs related to acquisitions — 783 Corporate, other and eliminations loss 53,910 52,602 Total reportable segment operating profit $ 545,054 $ 482,953
Summary of Geographic Information	Revenue in the table below is allocated based upon the country in which services are performed (dollars in thousands): Three Months Ended 2021 2020 Revenue United States $ 3,348,859 $ 3,380,317 United Kingdom 777,044 737,515 All other countries 1,812,976 1,771,336 Total revenue $ 5,938,879 $ 5,889,168

Warehouse Receivables & Wareh_3

Warehouse Receivables & Warehouse Lines of Credit - Narrative (Detail) - Warehouse Agreement Borrowings	3 Months Ended
	Mar. 31, 2021USD ($)
Short-term Debt [Line Items]
Period of repayment for warehouse lines of credit	1 month
Maximum lines of credit principal outstanding	$ 2,100,000,000

Warehouse Receivables & Wareh_4

Warehouse Receivables & Warehouse Lines of Credit - Warehouse Receivables Activity (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Warehouse Receivables Activity [Roll Forward]
Beginning balance at December 31, 2020	$ 1,411,170
Origination of mortgage loans	3,909,261	$ 3,859,407
Gains (premiums on loan sales)	25,696
Proceeds from sale of mortgage loans:
Sale of mortgage loans	(4,617,989)
Cash collections of premiums on loan sales	(25,696)
Proceeds from sale of mortgage loans	(4,643,685)	$ (3,595,631)
Net decrease in mortgage servicing rights included in warehouse receivables	(16,125)
Ending balance at March 31, 2021	$ 686,317

Warehouse Receivables & Wareh_5

Warehouse Receivables & Warehouse Lines of Credit - Summary of Warehouse Lines of Credit in Place (Detail)	3 Months Ended
	Mar. 31, 2021USD ($)	Jan. 18, 2021USD ($)	Dec. 31, 2020USD ($)	Nov. 02, 2020USD ($)	Oct. 19, 2020USD ($)	Sep. 22, 2020USD ($)	Sep. 21, 2020USD ($)	Aug. 04, 2020USD ($)	Jul. 01, 2020USD ($)	Jun. 10, 2020USD ($)	Jun. 28, 2019USD ($)borrowing
Short-term Debt [Line Items]
Carrying Value	$ 675,473,000		$ 1,383,964,000
Warehouse Agreement Borrowings
Short-term Debt [Line Items]
Maximum Facility Size	3,000,000,000		3,500,000,000
Carrying Value	675,473,000		1,383,964,000
Warehouse Agreement Borrowings | JP Morgan | Pricing at daily floating rate LIBOR plus 1.30%, maturing October 19, 2020
Short-term Debt [Line Items]
Maximum Facility Size	985,000,000	$ 985,000,000	1,585,000,000		$ 1,585,000,000
Carrying Value	$ 370,054,000		561,726,000
Line of credit over LIBOR rate	1.60%
Warehouse Agreement Borrowings | JP Morgan | Pricing at daily floating rate LIBOR plus 2.75%, maturing October 19, 2020
Short-term Debt [Line Items]
Maximum Facility Size	$ 15,000,000		15,000,000
Carrying Value	$ 899,000		0
Line of credit over LIBOR rate	2.75%
Warehouse Agreement Borrowings | Fannie Mae ASAP Program | Pricing at daily one-month LIBOR plus 1.35%, with a LIBOR floor of 0.35%, Cancelable anytime
Short-term Debt [Line Items]
Maximum Facility Size	$ 650,000,000		450,000,000
Carrying Value	$ 85,530,000		132,692,000
Line of credit over LIBOR rate	1.45%
Line of credit, LIBOR floor rate	0.25%
Warehouse Agreement Borrowings | TD Bank | Pricing at daily floating rate LIBOR plus 1.15%, maturing June 30, 2021
Short-term Debt [Line Items]
Maximum Facility Size	$ 800,000,000		800,000,000						$ 400,000,000
Carrying Value	$ 94,164,000		401,849,000
Line of credit over LIBOR rate	1.15%
Revolving credit facility							$ 400,000,000
Warehouse Agreement Borrowings | Bank of America (BofA) | LIBOR daily floating rate plus 1.50% on general facility and LIBOR daily floating rate plus 1.75% on separate sublimit borrowing, maturing on May 26, 2021
Short-term Debt [Line Items]
Maximum Facility Size	$ 350,000,000		350,000,000							$ 350,000,000
Carrying Value	89,949,000		175,862,000
Warehouse Agreement Borrowings | Bank of America (BofA) | LIBOR daily floating rate plus 1.50% on general facility and LIBOR daily floating rate plus 1.75% on separate sublimit borrowing, maturing on May 26, 2021 | Sublimit Borrowing Agreement
Short-term Debt [Line Items]
Maximum Facility Size										$ 100,000,000
Warehouse Agreement Borrowings | MUFG Union Bank, N.A. (Union Bank) | Pricing at daily floating rate LIBOR plus 1.20%, maturing June 28, 2020
Short-term Debt [Line Items]
Maximum Facility Size	200,000,000		300,000,000	$ 650,000,000							$ 200,000,000
Carrying Value	$ 34,877,000		$ 111,835,000
Line of credit over LIBOR rate	1.50%
Line of credit, LIBOR floor rate	0.25%
Additional line of credit								$ 100,000,000			$ 150,000,000
Maximum number of additional borrowings within 12 consecutive months | borrowing											3
Warehouse Agreement Borrowings | MUFG Union Bank, N.A. (Union Bank) | Pricing at daily floating rate LIBOR plus 1.20%, maturing June 28, 2020 | Maximum
Short-term Debt [Line Items]
Revolving credit facility						$ 100,000,000

Variable Interest Entities (V_3

Variable Interest Entities (VIEs) (Detail) - Variable Interest Entity, Not Primary Beneficiary - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Investments in unconsolidated subsidiaries	$ 85,291	$ 66,947
Other current assets	4,219	4,219
Co-investment commitments	50,291	47,957
Maximum exposure to loss	$ 139,801	$ 119,123

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)investment	Mar. 31, 2020USD ($)	Mar. 18, 2021	Dec. 31, 2020USD ($)	Dec. 28, 2020USD ($)	Aug. 13, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of investments classified as level 3 | investment	1
Investments in unconsolidated subsidiaries at fair value using NAV	$ 92,800			$ 66,300
Asset impairments	$ 0	$ 75,171
4.875% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate of long-term debt	4.875%					4.875%
2.5% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate of long-term debt	2.50%		2.50%
5.25% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate of long-term debt					5.25%
Redemption of debt instrument					$ 425,000
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior term loans	$ 757,300			772,200
Estimated Fair Value | 4.875% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	681,100			702,500
Estimated Fair Value | 2.5% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	475,600
Actual Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior term loans	766,300			785,700
Actual Carrying Value | 4.875% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	594,800			$ 594,500
Actual Carrying Value | 2.5% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 487,300
Global Workplace Solutions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset impairments		50,200
Real Estate Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Non-cash goodwill impairment charge		$ 25,000

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt securities:
Investments in unconsolidated subsidiaries, at fair value	$ 309,749	$ 116,314
Warehouse receivables	686,317	1,411,170
Recurring
Debt securities:
Available for sale debt securities	72,278	73,900
Equity securities	44,592	43,334
Investments in unconsolidated subsidiaries, at fair value	216,939	50,000
Warehouse receivables	686,317	1,411,170
Total assets at fair value	1,020,126	1,578,404
Recurring | Level 1
Debt securities:
Available for sale debt securities	7,115	7,270
Equity securities	44,592	43,334
Investments in unconsolidated subsidiaries, at fair value	0	0
Warehouse receivables	0	0
Total assets at fair value	51,707	50,604
Recurring | Level 2
Debt securities:
Available for sale debt securities	65,163	66,630
Equity securities	0	0
Investments in unconsolidated subsidiaries, at fair value	0	0
Warehouse receivables	686,317	1,411,170
Total assets at fair value	751,480	1,477,800
Recurring | Level 3
Debt securities:
Available for sale debt securities	0	0
Equity securities	0	0
Investments in unconsolidated subsidiaries, at fair value	216,939	50,000
Warehouse receivables	0	0
Total assets at fair value	216,939	50,000
Recurring | U.S. treasury securities
Debt securities:
Available for sale debt securities	7,115	7,270
Recurring | U.S. treasury securities | Level 1
Debt securities:
Available for sale debt securities	7,115	7,270
Recurring | U.S. treasury securities | Level 2
Debt securities:
Available for sale debt securities	0	0
Recurring | U.S. treasury securities | Level 3
Debt securities:
Available for sale debt securities	0	0
Recurring | Debt securities issued by U.S. federal agencies
Debt securities:
Available for sale debt securities	9,489	10,216
Recurring | Debt securities issued by U.S. federal agencies | Level 1
Debt securities:
Available for sale debt securities	0	0
Recurring | Debt securities issued by U.S. federal agencies | Level 2
Debt securities:
Available for sale debt securities	9,489	10,216
Recurring | Debt securities issued by U.S. federal agencies | Level 3
Debt securities:
Available for sale debt securities	0	0
Recurring | Corporate debt securities
Debt securities:
Available for sale debt securities	50,514	51,244
Recurring | Corporate debt securities | Level 1
Debt securities:
Available for sale debt securities	0	0
Recurring | Corporate debt securities | Level 2
Debt securities:
Available for sale debt securities	50,514	51,244
Recurring | Corporate debt securities | Level 3
Debt securities:
Available for sale debt securities	0	0
Recurring | Asset-backed securities
Debt securities:
Available for sale debt securities	3,791	3,801
Recurring | Asset-backed securities | Level 1
Debt securities:
Available for sale debt securities	0	0
Recurring | Asset-backed securities | Level 2
Debt securities:
Available for sale debt securities	3,791	3,801
Recurring | Asset-backed securities | Level 3
Debt securities:
Available for sale debt securities	0	0
Recurring | Collateralized mortgage obligations
Debt securities:
Available for sale debt securities	1,369	1,369
Recurring | Collateralized mortgage obligations | Level 1
Debt securities:
Available for sale debt securities	0	0
Recurring | Collateralized mortgage obligations | Level 2
Debt securities:
Available for sale debt securities	1,369	1,369
Recurring | Collateralized mortgage obligations | Level 3
Debt securities:
Available for sale debt securities	$ 0	$ 0

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Non-Recurring Fair Value Measurement (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Property and equipment
Net Carrying Value	$ 774,301		$ 815,009
Goodwill
Net Carrying Value	3,804,678		3,821,609
Other intangible assets
Net Carrying Value	1,370,484		1,367,913
Total
Net Carrying Value	17,248,728		$ 18,039,143
Total Impairment Charges	$ 0	$ 75,171
Fair Value, Nonrecurring
Property and equipment
Net Carrying Value		10,185
Total Impairment Charges		21,663
Goodwill
Net Carrying Value		418,861
Total Impairment Charges		25,000
Other intangible assets
Net Carrying Value		13,403
Total Impairment Charges		28,508
Total
Net Carrying Value		442,449
Total Impairment Charges		75,171
Fair Value, Nonrecurring | Level 1
Property and equipment
Fair Value Measured and Recorded		0
Goodwill
Fair Value Measured and Recorded		0
Other intangible assets
Fair Value Measured and Recorded		0
Total
Total assets at fair value		0
Fair Value, Nonrecurring | Level 2
Property and equipment
Fair Value Measured and Recorded		0
Goodwill
Fair Value Measured and Recorded		0
Other intangible assets
Fair Value Measured and Recorded		0
Total
Total assets at fair value		0
Fair Value, Nonrecurring | Level 3
Property and equipment
Fair Value Measured and Recorded		10,185
Goodwill
Fair Value Measured and Recorded		418,861
Other intangible assets
Fair Value Measured and Recorded		13,403
Total
Total assets at fair value		$ 442,449

Goodwill (Details)

Goodwill (Details) $ in Millions	Jan. 01, 2021USD ($)
Advisory Services
Goodwill [Line Items]
Transfer of goodwill into (out of) reporting segment	$ (101.4)
Global Workplace Solutions
Goodwill [Line Items]
Transfer of goodwill into (out of) reporting segment	$ 101.4

Investments in Unconsolidated_3

Investments in Unconsolidated Subsidiaries - Additional Information (Detail) - USD ($) $ in Millions	Feb. 19, 2021	Dec. 31, 2020	Dec. 31, 2021	Mar. 31, 2021
Industrious National Management Company, LLC
Schedule of Equity Method Investments [Line Items]
Equity method investments in unconsolidated subsidiaries, variations in ownership percentage	35.00%
Non-controlling investment	$ 150	$ 50
Industrious National Management Company, LLC | Forecast
Schedule of Equity Method Investments [Line Items]
Percentage ownership interest			40.00%
Maximum
Schedule of Equity Method Investments [Line Items]
Equity method investments in unconsolidated subsidiaries, variations in ownership percentage				50.00%

Investments in Unconsolidated_4

Investments in Unconsolidated Subsidiaries - Schedule of Condensed Financial Information of Equity Method Investments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Schedule of Equity Method Investments [Line Items]
Revenue	$ 5,938,879	$ 5,889,168
Operating income	269,084	220,290
Net income	268,977	173,530
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Revenue	555,856	411,251
Operating income	275,462	174,534
Net income	$ 368,217	$ 104,528

Long-Term Debt and Short-Term_3

Long-Term Debt and Short-Term Borrowings - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 18, 2021	Dec. 31, 2020	Aug. 13, 2015
Debt Instrument [Line Items]
Total long-term debt	$ 1,860,358		$ 1,387,743
Less: current maturities of long-term debt	1,402		1,514
Less: unamortized debt issuance costs	10,610		6,027
Long-term debt, net of current maturities	1,848,346		1,380,202
Senior secured term loans
Debt Instrument [Line Items]
Total long-term debt	$ 769,098		788,759
Senior secured term loans | Minimum
Debt Instrument [Line Items]
Interest rate	0.75%
Senior secured term loans | Maximum
Debt Instrument [Line Items]
Interest rate	1.15%
Other
Debt Instrument [Line Items]
Total long-term debt	$ 1,402		1,514
4.875% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate	4.875%			4.875%
Total long-term debt	$ 597,579		597,470
2.5% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate	2.50%	2.50%
Total long-term debt	$ 492,279		$ 0

Long-Term Debt and Short-Term_4

Long-Term Debt and Short-Term Borrowings - Long-Term Debt - Narrative (Detail)	Mar. 18, 2021USD ($)	Mar. 04, 2019USD ($)	Aug. 13, 2015USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2021EUR (€)
Debt Instrument [Line Items]
Principal amount of debt issued, percentage of face value	98.451%
Redemption price, discount rate, adjustment to treasury rate	0.20%
2019 Credit Agreement | Senior Notes
Debt Instrument [Line Items]
Minimum coverage ratio of EBITDA to total interest expense expressed in percentage				2.00%
Maximum leverage ratio of total debt less available cash to EBITDA expressed in percentage				425.00%
Maximum leverage ratio during first four quarter that qualified acquisition is consummated				475.00%
4.875% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Face amount of debt			$ 600,000,000
Redemption price percentage			99.24%
Interest rate of long-term debt			4.875%	4.875%	4.875%
2.5% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Face amount of debt	$ 500,000,000
Interest rate of long-term debt	2.50%			2.50%	2.50%
Senior notes outstanding				$ 487,300,000
2.5% Senior Notes | Senior Notes | On Or After January 1, 2031
Debt Instrument [Line Items]
Redemption price percentage	100.00%
2.5% Senior Notes | Senior Notes | Any Time Prior To January 1, 2031
Debt Instrument [Line Items]
Redemption price percentage	100.00%
Tranche A term loan facility | 2019 Credit Agreement
Debt Instrument [Line Items]
Repayments on line of credit		$ 300,000,000
Face amount of debt | €					€ 300,000,000
Maximum leverage ratio				250.00%
Revolving credit facility | 2019 Credit Agreement
Debt Instrument [Line Items]
Amounts available to borrow under credit agreement				$ 2,800,000,000
Euro term loan facility | 2019 Credit Agreement
Debt Instrument [Line Items]
Face amount of debt | €					€ 400,000,000

Long-Term Debt and Short-Term_5

Long-Term Debt and Short-Term Borrowings - Revolving Credit Facility - Narrative (Detail)	3 Months Ended
	Mar. 31, 2021USD ($)
Debt Instrument [Line Items]
Letters of credit outstanding amount	$ 144,000,000
2019 Credit Agreement | Revolving credit facility
Debt Instrument [Line Items]
Amounts available to borrow under credit agreement	2,800,000,000
Revolving credit facility	0
Letters of credit outstanding amount	$ 2,000,000
2019 Credit Agreement | Revolving credit facility | Minimum
Debt Instrument [Line Items]
Credit Agreement applicable fixed rate spread	0.68%
Credit Agreement applicable daily rate spread	0.00%
2019 Credit Agreement | Revolving credit facility | Maximum
Debt Instrument [Line Items]
Credit Agreement applicable fixed rate spread	1.075%
Credit Agreement applicable daily rate spread	0.075%
2019 Credit Agreement | Canadian, Australian and New Zealand subsidiaries | Revolving credit facility
Debt Instrument [Line Items]
Amounts available to borrow under credit agreement	$ 200,000,000
2019 Credit Agreement | U.K. subsidiaries | Revolving credit facility
Debt Instrument [Line Items]
Amounts available to borrow under credit agreement	$ 300,000,000

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssets	us-gaap:OtherAssets
Operating	$ 1,000,729	$ 1,020,352
Financing	114,503	117,805
Total leased assets	$ 1,115,232	$ 1,138,157
Current:
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities
Operating	$ 206,772	$ 208,526
Financing	$ 35,896	$ 39,298
Non-current:
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Operating	$ 1,090,740	$ 1,116,795
Financing	78,473	78,881
Total lease liabilities	$ 1,411,881	$ 1,443,500

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information and Non-Cash Activity Related to Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 24,214	$ 61,310
Right-of-use assets obtained in exchange for new financing lease liabilities	10,448	14,683
Other non-cash increases in operating lease right-of-use assets	5,940	6,888
Other non-cash decreases in financing lease right-of-use assets	$ (1,563)	$ (517)

Commitments and Contingencies (

Commitments and Contingencies (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Funded loans unpaid principal	$ 34,100,000,000
Letters of credit outstanding	144,000,000
Accrued loan loss	58,800,000	$ 57,100,000
Assets available for recourse	677,500,000
Guarantees total	42,100,000
Commitments to investment in future real estate investment	91,100,000
Commitments to investment in unconsolidated real estate subsidiary	31,300,000
Forbearance Of Loans, CARES Act
Loss Contingencies [Line Items]
Advances for principal and interest	7,700,000
Reimbursement of advances	$ 5,500,000
Maximum
Loss Contingencies [Line Items]
Co-investments typically range	2.00%
Warehouse Receivable
Loss Contingencies [Line Items]
Warehouse receivables	$ 194,300,000
Funded loans subject to loss sharing arrangements
Loss Contingencies [Line Items]
Funded loans unpaid principal	29,500,000,000
SBL Program
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 5,000,000
Percentage of maximum original principal amount loan loss	10.00%
Funded loans not subject to loss sharing arrangements
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 95,000,000	$ 95,000,000

Income Taxes (Detail)

Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 76,327	$ 51,182
Increase in income taxes due to decrease of pre-tax book income	$ 25,100
Effective tax rate	22.10%	22.80%
Federal statutory tax rate	21.00%
Unrecognized tax benefits	$ 166,800
Decrease in unrecognized tax benefits	1,700
Change in unrecognized tax benefits	3,100
Unrecognized tax benefits expiration of statute of limitations in various tax jurisdictions	$ 4,800

Income Per Share and Stockhol_3

Income Per Share and Stockholders' Equity - Calculations of Basic and Diluted Income Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Basic Income Per Share
Net income attributable to CBRE Group, Inc. stockholders	$ 266,202	$ 172,195
Weighted average shares outstanding for basic income per share (in shares)	335,860,494	334,969,826
Basic income per share attributable to CBRE Group, Inc. shareholders (in dollars per share)	$ 0.79	$ 0.51
Diluted Income Per Share
Net income attributable to CBRE Group, Inc. stockholders	$ 266,202	$ 172,195
Weighted average shares outstanding for basic income per share (in shares)	335,860,494	334,969,826
Dilutive effect of contingently issuable shares (in shares)	3,720,010	4,768,085
Weighted average shares outstanding for diluted income per share (in shares)	339,580,504	339,737,911
Diluted income per share attributable to CBRE Group, Inc. shareholders (in dollars per share)	$ 0.78	$ 0.51

Income Per Share and Stockhol_4

Income Per Share and Stockholders' Equity - Narrative (Detail) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 28, 2019	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2020	Nov. 30, 2019	Aug. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares repurchased during the period, value		$ 64,142,000	$ 50,028,000
Capacity remaining under current stock repurchase program		285,900,000
October 2016 Program
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Authorized share repurchase term	3 years
March 2019 Program
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares repurchased during the period, value				$ 50,000,000
Class A common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Authorized share repurchase amount		500,000,000
Shares repurchased during the period, value		8,000
Class A common stock | October 2016 Program
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Authorized share repurchase amount	$ 300,000,000
Class A common stock | March 2019 Program
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Authorized share additional repurchase amount					$ 100,000,000	$ 100,000,000
Shares repurchased during the period, value		$ 64,100,000
Shares repurchased during the period (in shares)		831,274		1,050,084
Average price per share (in dollars per share)		$ 77.15		$ 47.62
Contingently Issuable Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded in computation of diluted income per share (in shares)		481,341	341,359

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue from Contracts with Customers (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	$ 5,778,432	$ 5,745,129
Total Out of Scope of Topic 606 Revenue	160,447	144,039
Total revenue	5,938,879	5,889,168
Corporate, other and eliminations
Disaggregation of Revenue [Line Items]
Total revenue	(6,145)	(9,518)
Advisory Services | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	1,548,445	1,672,214
Total Out of Scope of Topic 606 Revenue	159,567	130,473
Total revenue	1,708,012	1,802,687
Global Workplace Solutions | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	4,025,883	3,884,529
Total Out of Scope of Topic 606 Revenue	0	0
Total revenue	4,025,883	3,884,529
Real Estate Investments | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	210,249	197,904
Total Out of Scope of Topic 606 Revenue	880	13,566
Total revenue	211,129	211,470
Real Estate Investments | Corporate, other and eliminations
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	(6,145)	(9,518)
Total Out of Scope of Topic 606 Revenue	0	0
Total revenue	(6,145)	(9,518)
Facilities management
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	3,479,501	3,335,793
Facilities management | Global Workplace Solutions | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	3,479,501	3,335,793
Advisory leasing
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	520,216	621,082
Advisory leasing | Advisory Services | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	520,216	625,028
Advisory leasing | Real Estate Investments | Corporate, other and eliminations
Disaggregation of Revenue [Line Items]
Topic 606 Revenue		(3,946)
Advisory sales
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	392,312	431,669
Advisory sales | Advisory Services | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	392,312	431,669
Property management
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	421,043	412,909
Property management | Advisory Services | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	427,188	418,481
Property management | Real Estate Investments | Corporate, other and eliminations
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	(6,145)	(5,572)
Project management
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	546,382	548,736
Project management | Global Workplace Solutions | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	546,382	548,736
Valuation
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	159,590	147,738
Valuation | Advisory Services | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	159,590	147,738
Commercial mortgage origination
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	33,751	37,889
Total Out of Scope of Topic 606 Revenue	106,113	85,202
Commercial mortgage origination | Advisory Services | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	33,751	37,889
Total Out of Scope of Topic 606 Revenue	106,113	85,202
Loan servicing
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	15,388	11,409
Total Out of Scope of Topic 606 Revenue	53,454	45,271
Loan servicing | Advisory Services | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	15,388	11,409
Total Out of Scope of Topic 606 Revenue	53,454	45,271
Investment management
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	132,071	121,678
Investment management | Real Estate Investments | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	132,071	121,678
Development services
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	78,178	76,226
Total Out of Scope of Topic 606 Revenue	880	13,566
Development services | Real Estate Investments | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	78,178	76,226
Total Out of Scope of Topic 606 Revenue	$ 880	$ 13,566

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract assets	$ 449,200	$ 471,800
Contract assets, current	313,648	318,191
Contract liabilities	177,400	164,100
Contract liabilities, current	174,413	$ 162,045
Recognized revenue included in contract liability	$ 136,600

Segments - Additional Informati

Segments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2021segment
Segment Reporting [Abstract]
Global business segments	3

Segments - Summarized Financial

Segments - Summarized Financial Information by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenue	$ 5,938,879	$ 5,889,168
Total reportable segment operating profit	545,054	482,953
Corporate, other and eliminations
Segment Reporting Information [Line Items]
Revenue	(6,145)	(9,518)
Total reportable segment operating profit	53,910	52,602
Advisory Services | Operating Segments
Segment Reporting Information [Line Items]
Revenue	1,708,012	1,802,687
Total reportable segment operating profit	332,300	332,965
Global Workplace Solutions | Operating Segments
Segment Reporting Information [Line Items]
Revenue	4,025,883	3,884,529
Total reportable segment operating profit	152,177	106,967
Real Estate Investments | Operating Segments
Segment Reporting Information [Line Items]
Revenue	211,129	211,470
Total reportable segment operating profit	60,577	43,021
Real Estate Investments | Corporate, other and eliminations
Segment Reporting Information [Line Items]
Revenue	$ (6,145)	$ (9,518)

Segments - Adjusted EBITDA Calc

Segments - Adjusted EBITDA Calculation by Segment (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Net income attributable to CBRE Group, Inc.	$ 266,202	$ 172,195
Adjustments to increase (decrease) net income:
Depreciation and amortization	122,078	113,794
Asset impairments	0	75,171
Interest expense, net of interest income	10,106	16,016
Provision for income taxes	76,327	51,182
Carried interest incentive compensation expense (reversal) to align with the timing of associated revenue	15,332	(7,784)
Impact of fair value adjustments to real estate assets acquired in the Telford Acquisition (purchase accounting) that were sold in period	1,099	5,753
Costs incurred related to legal entity restructuring	0	3,241
Integration and other costs related to acquisitions	0	783
Total reportable segment operating profit	545,054	482,953
Corporate, other and eliminations
Adjustments to increase (decrease) net income:
Total reportable segment operating profit	$ 53,910	$ 52,602

Segments - Summary of Geographi

Segments - Summary of Geographic Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 5,938,879	$ 5,889,168
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	3,348,859	3,380,317
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	777,044	737,515
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 1,812,976	$ 1,771,336