CBRE (CBRE) 10-Q 27 Jul 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Jul. 24, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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		309,838,091
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001138118
Current Fiscal Year End Date	--12-31

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 1,261,174	$ 1,318,290
Restricted cash	96,152	86,559
Receivables, less allowance for doubtful accounts of $96,764 and $92,354 at June 30, 2023 and December 31, 2022, respectively	5,552,692	5,326,807
Warehouse receivables	1,009,770	455,354
Contract assets	369,652	391,626
Prepaid expenses	352,678	311,508
Income taxes receivable	192,593	81,528
Other current assets	634,997	557,009
Total Current Assets	9,469,708	8,528,681
Property and equipment, net of accumulated depreciation and amortization of $1,529,028 and $1,386,261 at June 30, 2023 and December 31, 2022, respectively	848,852	836,041
Goodwill	5,043,708	4,868,382
Other intangible assets, net of accumulated amortization of $2,062,216 and $1,915,725 at June 30, 2023 and December 31, 2022, respectively	2,129,915	2,192,706
Operating lease assets	983,782	1,033,011
Investments in unconsolidated subsidiaries (with $944,505 and $973,635 at fair value at June 30, 2023 and December 31, 2022, respectively)	1,306,769	1,317,705
Non-current contract assets	140,336	137,480
Real estate under development	212,554	172,253
Non-current income taxes receivable	65,815	51,910
Deferred tax assets, net	306,430	265,554
Other assets, net	1,224,198	1,109,666
Total Assets	21,732,067	20,513,389
Current Liabilities:
Accounts payable and accrued expenses	2,886,203	3,078,781
Compensation and employee benefits payable	1,365,963	1,459,001
Accrued bonus and profit sharing	1,013,554	1,691,118
Operating lease liabilities	242,824	229,591
Contract liabilities	263,703	276,334
Income taxes payable	168,702	184,453
Short-term borrowings:
Warehouse lines of credit (which fund loans that U.S. Government Sponsored Enterprises have committed to purchase)	997,235	447,840
Revolving credit facility	583,000	178,000
Other short-term borrowings	6,199	42,914
Total short-term borrowings	1,586,434	668,754
Current maturities of long-term debt	436,205	427,792
Other current liabilities	189,452	226,170
Total Current Liabilities	8,153,040	8,241,994
Long-term debt, net of current maturities	2,059,797	1,085,712
Non-current operating lease liabilities	1,051,341	1,080,385
Non-current income taxes payable	30,428	54,761
Non-current tax liabilities	138,668	148,806
Deferred tax liabilities, net	280,033	282,073
Other liabilities	1,125,123	1,013,926
Total Liabilities	12,838,430	11,907,657
Commitments and contingencies	0	0
CBRE Group, Inc. Stockholders’ Equity:
Class A common stock; $0.01 par value; 525,000,000 shares authorized; 310,876,434 and 311,014,160 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively	3,109	3,110
Additional paid-in capital	12,510	0
Accumulated earnings	9,011,227	8,832,943
Accumulated other comprehensive loss	(928,788)	(982,780)
Total CBRE Group, Inc. Stockholders’ Equity	8,098,058	7,853,273
Non-controlling interests	795,579	752,459
Total Equity	8,893,637	8,605,732
Total Liabilities and Equity	$ 21,732,067	$ 20,513,389

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current Assets:
Receivables, allowance for doubtful accounts	$ 96,764	$ 92,354
Accumulated depreciation and amortization	1,529,028	1,386,261
Other intangible assets, accumulated amortization	2,062,216	1,915,725
Investments in unconsolidated subsidiaries, fair value	$ 944,505	$ 973,635
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)	310,876,434	311,014,160
Class A common stock, shares outstanding (in shares)	310,876,434	311,014,160

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenue	$ 7,719,863	$ 7,771,278	$ 15,130,977	$ 15,104,211
Costs and expenses:
Cost of revenue	6,179,496	6,053,984	12,185,910	11,806,178
Operating, administrative and other	1,088,812	1,188,819	2,297,716	2,254,815
Depreciation and amortization	154,387	162,359	315,878	311,391
Asset impairments	0	26,405	0	36,756
Total costs and expenses	7,422,695	7,431,567	14,799,504	14,409,140
Gain on disposition of real estate	9,261	177,226	12,321	198,818
Operating income	306,429	516,937	343,794	893,889
Equity (loss) income from unconsolidated subsidiaries	(7,502)	119,168	134,181	162,039
Other income (loss)	5,612	(6,909)	8,086	(21,373)
Interest expense, net of interest income	42,982	18,518	71,396	31,344
Income before provision for income taxes	261,557	610,678	414,665	1,003,211
Provision for income taxes	55,404	120,762	83,439	117,024
Net income	206,153	489,916	331,226	886,187
Less: Net income attributable to non-controlling interests	4,750	2,594	12,931	6,568
Net income attributable to CBRE Group, Inc.	$ 201,403	$ 487,322	$ 318,295	$ 879,619
Basic income per share:
Net income per share attributable to CBRE Group, Inc. (in dollars per share)	$ 0.65	$ 1.50	$ 1.02	$ 2.68
Weighted average shares outstanding for basic income per share (in shares)	310,857,203	325,415,305	310,662,324	328,692,585
Diluted income per share:
Net income per share attributable to CBRE Group, Inc. (in dollars per share)	$ 0.64	$ 1.48	$ 1.01	$ 2.64
Weighted average shares outstanding for diluted income per share (in shares)	314,282,247	329,843,710	314,821,615	333,514,398

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 206,153	$ 489,916	$ 331,226	$ 886,187
Other comprehensive income (loss):
Foreign currency translation gain (loss)	35,945	(303,894)	73,679	(385,179)
Amounts reclassified from accumulated other comprehensive loss to interest expense, net of tax	111	107	221	215
Unrealized holding gains (losses) on available for sale debt securities, net of tax	643	(2,116)	573	(3,847)
Other, net of tax	(1)	(100)	5,557	0
Total other comprehensive income (loss)	36,698	(306,003)	80,030	(388,811)
Comprehensive income	242,851	183,913	411,256	497,376
Less: Comprehensive income (loss) attributable to non-controlling interests	17,138	(53,280)	38,969	(71,333)
Comprehensive income attributable to CBRE Group, Inc.	$ 225,713	$ 237,193	$ 372,287	$ 568,709

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 331,226	$ 886,187
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	315,878	311,391
Amortization of financing costs	2,305	3,407
Gains related to mortgage servicing rights, premiums on loan sales and sales of other assets	(45,340)	(87,150)
Asset impairments	0	36,756
Net realized and unrealized (gains) losses, primarily from investments	(2,935)	27,251
Provision for doubtful accounts	6,412	7,781
Net compensation expense for equity awards	38,796	82,322
Equity income from unconsolidated subsidiaries	(134,181)	(162,039)
Distribution of earnings from unconsolidated subsidiaries	183,068	315,255
Proceeds from sale of mortgage loans	4,356,448	7,270,423
Origination of mortgage loans	(4,893,898)	(6,984,779)
Increase (decrease) in warehouse lines of credit	549,395	(259,502)
Tenant concessions received	6,515	4,250
Purchase of equity securities	(8,309)	(13,931)
Proceeds from sale of equity securities	7,503	25,296
(Increase) decrease in real estate under development	(36,542)	74,127
Increase in receivables, prepaid expenses and other assets (including contract and lease assets)	(101,074)	(509,350)
Decrease in accounts payable and accrued expenses and other liabilities (including contract and lease liabilities)	(313,243)	(194,236)
Decrease in compensation and employee benefits payable and accrued bonus and profit sharing	(810,852)	(573,809)
Increase in net income taxes receivable/payable	(157,326)	(60,160)
Other operating activities, net	(49,471)	(138,574)
Net cash (used in) provided by operating activities	(755,625)	60,916
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(135,012)	(96,722)
Acquisition of businesses, including net assets acquired and goodwill, net of cash acquired	(165,539)	(45,377)
Contributions to unconsolidated subsidiaries	(59,800)	(220,492)
Distributions from unconsolidated subsidiaries	20,787	42,006
Other investing activities, net	(29,754)	(8,357)
Net cash used in investing activities	(369,318)	(328,942)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from revolving credit facility	3,206,000	310,000
Repayment of revolving credit facility	(2,801,000)	0
Proceeds from notes payable on real estate	219	15,706
Repayment of notes payable on real estate	0	(16,544)
Proceeds from issuance of 5.950% senior notes	975,253	0
Repurchase of common stock	(129,808)	(993,769)
Acquisition of businesses (cash paid for acquisitions more than three months after purchase date)	(68,239)	(28,431)
Units repurchased for payment of taxes on equity awards	(50,217)	(34,841)
Non-controlling interest contributions	1,744	713
Non-controlling interest distributions	(1,398)	(370)
Other financing activities, net	(57,777)	(12,960)
Net cash provided by (used in) financing activities	1,074,777	(760,496)
Effect of currency exchange rate changes on cash and cash equivalents and restricted cash	2,643	(180,543)
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(47,523)	(1,209,065)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, AT BEGINNING OF PERIOD	1,404,849	2,539,781
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, AT END OF PERIOD	1,357,326	1,330,716
Cash paid during the period for:
Interest	91,301	27,745
Income tax payments, net	$ 303,394	$ 336,266

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical)	Jun. 30, 2023
5.950% Senior Notes | Senior Notes
Interest rate	5.95%

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - 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, 2021	$ 9,359,117	$ 3,329	$ 798,892	$ 8,366,631	$ (640,659)	$ 830,924
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	886,187			879,619		6,568
Net compensation expense for equity awards	82,322		82,322
Units repurchased for payment of taxes on equity awards	(34,841)		(34,841)
Repurchase of common stock	(1,002,172)	(117)	(840,163)	(161,892)
Foreign currency translation gain (loss)	(385,179)				(307,278)	(77,901)
Amounts reclassified from accumulated other comprehensive loss to interest expense, net of tax	215				215
Unrealized holding gains (losses) on available for sale debt securities, net of tax	(3,847)				(3,847)
Contributions from non-controlling interests	713					713
Distributions to non-controlling interests	(370)					(370)
Other	(7,161)	9	(6,210)			(960)
Ending balance at Jun. 30, 2022	8,894,984	3,221	0	9,084,358	(951,569)	758,974
Beginning balance at Mar. 31, 2022	9,282,825	3,296	409,187	8,758,928	(701,440)	812,854
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	489,916			487,322		2,594
Net compensation expense for equity awards	45,459		45,459
Units repurchased for payment of taxes on equity awards	(3,446)		(3,446)
Repurchase of common stock	(611,309)	(75)	(449,342)	(161,892)
Foreign currency translation gain (loss)	(303,894)				(248,020)	(55,874)
Amounts reclassified from accumulated other comprehensive loss to interest expense, net of tax	107				107
Unrealized holding gains (losses) on available for sale debt securities, net of tax	(2,116)				(2,116)
Contributions from non-controlling interests	503					503
Distributions to non-controlling interests	(157)					(157)
Other	(2,904)		(1,858)		(100)	(946)
Ending balance at Jun. 30, 2022	8,894,984	3,221	0	9,084,358	(951,569)	758,974
Beginning balance at Dec. 31, 2022	8,605,732	3,110	0	8,832,943	(982,780)	752,459
Ending balance at Mar. 31, 2023	8,642,410	3,108	0	8,809,824	(953,098)	782,576
Beginning balance at Dec. 31, 2022	8,605,732	3,110	0	8,832,943	(982,780)	752,459
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	331,226			318,295		12,931
Net compensation expense for equity awards	38,796		38,796
Units repurchased for payment of taxes on equity awards	(50,217)		(16,622)	(33,595)
Repurchase of common stock	(114,249)	(14)		(114,235)
Foreign currency translation gain (loss)	73,679				47,641	26,038
Amounts reclassified from accumulated other comprehensive loss to interest expense, net of tax	221				221
Unrealized holding gains (losses) on available for sale debt securities, net of tax	573				573
Contributions from non-controlling interests	1,744					1,744
Distributions to non-controlling interests	(1,398)					(1,398)
Other	7,530	13	(9,664)	7,819	5,557	3,805
Ending balance at Jun. 30, 2023	8,893,637	3,109	12,510	9,011,227	(928,788)	795,579
Beginning balance at Mar. 31, 2023	8,642,410	3,108	0	8,809,824	(953,098)	782,576
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	206,153			201,403		4,750
Net compensation expense for equity awards	20,683		20,683
Units repurchased for payment of taxes on equity awards	(4,056)		(4,056)
Foreign currency translation gain (loss)	35,945				23,557	12,388
Amounts reclassified from accumulated other comprehensive loss to interest expense, net of tax	111				111
Unrealized holding gains (losses) on available for sale debt securities, net of tax	643				643
Contributions from non-controlling interests	1,177					1,177
Distributions to non-controlling interests	(1,297)					(1,297)
Other	(8,132)	1	(4,117)		(1)	(4,015)
Ending balance at Jun. 30, 2023	$ 8,893,637	$ 3,109	$ 12,510	$ 9,011,227	$ (928,788)	$ 795,579

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2023
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, 2022, which are included in our 2022 Annual Report on Form 10-K (2022 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 2022 Annual Report for further discussion of our significant accounting policies and estimates. Considerations Related to Tightening Monetary Policy The macroeconomic environment remains challenging as central banks have continued to rapidly raise interest rates. The rising rate environment, coupled with large bank failures in early 2023 and ongoing economic uncertainty, has limited credit availability to commercial real estate. Less available and more expensive debt capital has had pronounced effects on our capital markets (mortgage origination and property sales) businesses, making property acquisitions and dispositions harder to finance. Similar factors also impact the timing of and proceeds generated from asset sales within our investment management and development businesses and our ability to obtain debt capital to begin new development projects. 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 General Accepted Accounting Principles (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, such as weakening global macroeconomic conditions and stress in the banking system, including less available and more expensive debt capital. These estimates and the underlying assumptions affect the reported amounts of assets, liabilities, revenues 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.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements Recent Accounting Pronouncements Pending Adoption In June 2022, the Financial Standards Board (FASB) issued Accounting Standards Update (ASU) 2022-03, “ Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restriction s.” Topic 820, Fair Value Measurement, states that a reporting entity should consider the characteristics of the asset or liability when measuring the fair value, including restrictions on the sale of the asset or liability, if a market participant would take those characteristics into account and the key to that determination is the unit of account for the asset or liability being measured at fair value. Topic 820 contains conflicting guidance on what the unit of account is when measuring the fair value of an equity security and this has resulted in diversity in practice on whether the effects of a contractual restriction that prohibits the sale of an equity security should be considered in measuring the equity security’s fair value. To address this, the amendments in the ASU clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The ASU introduces new disclosure requirements to provide investors with information about the restriction including the nature and remaining duration of the restriction. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. We are evaluating the effect that this guidance will have on our consolidated financial statements and related disclosures, but do not expect it to have a material impact. In March 2023, the FASB issued ASU 2023-01, “Leases (Topic 842): Common Control Arrangements.” This update requires that leasehold improvements associated with common control leases be amortized over the useful life of the leasehold improvements to the common control group (regardless of the lease term) and accounted for as a transfer between entities under common control through an adjustment to equity if, and when, the lessee no longer controls the use of the underlying asset. This update also provides a practical expedient for private companies and not-for-profit entities to use written terms and conditions of a common control arrangement to determine if a lease exists and the classification and accounting for that lease. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. We are evaluating the effect that this guidance will have on our consolidated financial statements and related disclosures, but do not expect it to have a material impact. In March 2023, the FASB issued ASU 2023-02, “Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization method.”

Warehouse Receivables & Warehou

Warehouse Receivables & Warehouse Lines of Credit	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 and December 31, 2022, 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, 2022 $ 455,354 Origination of mortgage loans 4,893,898 Gains (premiums on loan sales) 12,185 Proceeds from sale of mortgage loans: Sale of mortgage loans (4,344,263) Cash collections of premiums on loan sales (12,185) Proceeds from sale of mortgage loans (4,356,448) Net increase in mortgage servicing rights included in warehouse receivables 4,781 Ending balance at June 30, 2023 $ 1,009,770 The following table is a summary of our warehouse lines of credit in place as of June 30, 2023 and December 31, 2022 (dollars in thousands): June 30, 2023 December 31, 2022 Lender Current Pricing Maximum Carrying Maximum Carrying JP Morgan Chase Bank, N.A. (JP Morgan) 12/15/2023 daily floating rate Secured Overnight Financing Rate (SOFR) rate plus 1.60%, with a SOFR adjustment rate of 0.05% $ 1,335,000 $ 721,573 $ 1,335,000 $ 330,509 JP Morgan (Business Lending Activity) 12/15/2023 daily floating rate SOFR rate plus 2.75%, with a SOFR adjustment rate of 0.05% 15,000 1,520 15,000 — Fannie Mae Multifamily As Soon As Pooled Plus Agreement and Multifamily As Soon As Pooled Sale Agreement (ASAP) Program Cancelable daily one-month LIBOR plus 1.45%, with a LIBOR floor of 0.25% 650,000 16,295 650,000 — TD Bank, N.A. (TD Bank) (1) 7/15/2023 daily floating rate SOFR rate 1.30%, with a SOFR adjustment rate of 0.10% 800,000 59,516 800,000 — Bank of America, N.A. (BofA) (2) 5/22/2024 daily floating rate SOFR rate plus 1.35%, with a SOFR adjustment rate of 0.10% 350,000 198,331 350,000 115,206 BofA (3) 5/22/2024 daily floating rate SOFR rate 1.35%, with a SOFR adjustment rate of 0.10% 250,000 — 250,000 — MUFG Union Bank, N.A. (Union Bank) (4) — — 200,000 2,125 $ 3,400,000 $ 997,235 $ 3,600,000 $ 447,840 _______________________________ (1) 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. Effective July 15, 2022, this facility was amended with a revised interest rate of daily floating rate SOFR rate plus 1.30%, with a SOFR adjustment rate of 0.10% and a maturity date of July 15, 2023. Effective July 15, 2023, this facility was renewed and amended to a maximum aggregate principal amount of $300.0 million, with an uncommitted $300.0 million temporary line of credit and a maturity date of July 15, 2024. There were no changes to the SOFR rate or the SOFR adjustment rate at renewal. As of June 30, 2023, the uncommitted $400.0 million temporary line of credit was not utilized. (2) Effective May 24, 2023, this facility was renewed with a revised interest rate of daily floating rate SOFR plus 1.35%, with a SOFR adjustment rate of 0.10% and a maturity date of May 22, 2024. (3) Effective May 24, 2023, the advised consent line was renewed for $250.0 million of capacity with a revised interest rate of daily floating rate SOFR plus 1.35%, with a SOFR adjustment rate of 0.10%, and a maturity date of May 22, 2024. (4) This facility expired on June 27, 2023, and was not renewed. During the six months ended June 30, 2023, we had a maximum of $1.1 billion of warehouse lines of credit principal outstanding.

Variable Interest Entities (VIE

Variable Interest Entities (VIEs)	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Variable Interest Entities (VIEs)	Variable Interest Entities (VIEs) We hold variable interests in certain VIEs primarily 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 June 30, 2023 and December 31, 2022, our maximum exposure to loss related to VIEs which are not consolidated was as follows (dollars in thousands): June 30, December 31, Investments in unconsolidated subsidiaries $ 169,286 $ 152,762 Co-investment commitments 65,337 83,835 Maximum exposure to loss $ 234,623 $ 236,597

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
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 2022 Annual Report , except as described below. The following tables present the fair value of assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 (dollars in thousands): As of June 30, 2023 Fair Value Measured and Recorded Using Level 1 Level 2 Level 3 Total Assets Available for sale debt securities: U.S. treasury securities $ 12,389 $ — $ — $ 12,389 Debt securities issued by U.S. federal agencies — 11,360 — 11,360 Corporate debt securities — 44,634 — 44,634 Asset-backed securities — 1,942 — 1,942 Total available for sale debt securities 12,389 57,936 — 70,325 Equity securities 37,030 — — 37,030 Investments in unconsolidated subsidiaries 132,602 — 452,887 585,489 Warehouse receivables — 1,009,770 — 1,009,770 Other assets — — 23,535 23,535 Total assets at fair value $ 182,021 $ 1,067,706 $ 476,422 $ 1,726,149 As of December 31, 2022 Fair Value Measured and Recorded Using Level 1 Level 2 Level 3 Total Assets Available for sale debt securities: U.S. treasury securities $ 6,164 $ — $ — $ 6,164 Debt securities issued by U.S. federal agencies — 8,249 — 8,249 Corporate debt securities — 44,091 — 44,091 Asset-backed securities — 3,201 — 3,201 Total available for sale debt securities 6,164 55,541 — 61,705 Equity securities 33,724 — — 33,724 Investments in unconsolidated subsidiaries 160,093 — 460,540 620,633 Warehouse receivables — 455,354 — 455,354 Other assets — — 14,452 14,452 Total assets at fair value $ 199,981 $ 510,895 $ 474,992 $ 1,185,868 There were no liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022. Fair value measurements for our available for sale debt securities are obtained from independent pricing services which utilize observable market data that may include quoted market prices, dealer quotes, market spreads, cash flows, the U.S. treasury yield curve, trading levels, market consensus prepayment speeds, credit information and the instrument’s terms and conditions. The equity securities are generally valued at the last reported sales price on the day of valuation or, if no sales occurred on the valuation date, at the mean of the bid and ask prices on such date. The above tables do not include our $122.7 million capital investment in certain non-public entities as they are non-marketable equity investment accounted for under the measurement alternative, defined as cost minus impairment. These investments are included in “other assets, net” in the accompanying consolidated balance sheets. The fair values of the warehouse receivables are primarily calculated based on already locked in purchase prices. At June 30, 2023 and December 31, 2022, 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 (See Note 3). These assets are classified as Level 2 in the fair value hierarchy as a substantial majority of inputs are readily observable. As of June 30, 2023 and December 31, 2022, investments in unconsolidated subsidiaries at fair value using NAV were $359.0 million and $353.0 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. The tables below present a reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (dollars in thousands): Investment in Unconsolidated Subsidiaries Other assets Balance as of March 31, 2023 $ 456,556 $ 20,445 Transfer in (out) — — Net change in fair value (3,669) 100 Purchases / Additions — 2,990 Balance as of June 30, 2023 $ 452,887 $ 23,535 Balance as of December 31, 2022 $ 460,540 $ 14,452 Transfer in (out) (230) — Net change in fair value (7,423) 3,500 Purchases / Additions — 5,583 Balance as of June 30, 2023 $ 452,887 $ 23,535 Net change in fair value, included in the table above, is reported in Net income as follows: Category of Assets/Liabilities using Unobservable Inputs Consolidated Statements of Operations Investments in unconsolidated subsidiaries Equity income from unconsolidated subsidiaries Other assets (liabilities) Other income (loss) The table below presents information about the significant unobservable inputs used for recurring fair value measurements for certain Level 3 instruments as of June 30, 2023 : Valuation Technique Unobservable Input Range Weighted Average Investment in unconsolidated subsidiaries Discounted cash flow Discount rate 24.0 % — Monte Carlo Volatility 40.0% - 69.0% 42.6 % Risk free interest rate 4.0 % Discount Yield 25.0 % — Other assets Discounted cash flow Discount rate 24.0 % — There were no asset impairment charges or adjustments recorded during the three and six months ended June 30, 2023. During the three and six months ended June 30, 2022, we recorded $26.4 million and $10.4 million in non-cash asset impairment charges related to inflationary impact on certain parts of the business and also due to exit of our Advisory Services segment from Russia. There were no other significant non-recurring fair value measurements recorded during the three and six months ended June 30, 2023 and 2022. 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. It includes our equity investment and related interests in both public and non-public entities. Our ownership of common shares in Altus Power Inc. (Altus) is considered level 1 and is measured at fair value using a quoted price in an active market. Our ownership of alignment shares of Altus and our investment in Industrious and certain other non-controlling equity investments are considered level 3 which are measured at fair value using Monte Carlo and discounted cash flows. The valuation of Altus’ common shares and alignment shares are dependent on its stock price which could be volatile and subject to wide fluctuations in response to various market conditions. Transfer out activities from level 3, as shown in the table above, represent annual conversion of a portion of our alignment shares in Altus to its common shares. • 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. • Other assets / liabilities – Represents the fair value of the unfunded commitment related to a revolving facility. Valuations are based on discounted cash flow techniques, for which the significant inputs are the amount and timing of expected future cash flows, market comparables and recovery assumptions. It also includes approximately $10 million of investment in a non-public entity designated as trading debt security that the company purchased in the fourth quarter of 2022 for which cost approximated fair value at June 30, 2023. • 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 7). • 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 $434.6 million and $424.6 million at June 30, 2023 and December 31, 2022, respectively. Their actual carrying value, net of unamortized debt issuance costs, totaled $436.2 million and $427.8 million at June 30, 2023 and December 31, 2022, respectively (see Note 7). • Senior Notes – Based on dealers’ quotes (which falls within Level 2 of the fair value hierarchy), the estimated fair value of our 5.950% senior notes was $987.1 million at June 30, 2023. The actual carrying value of our 5.950% senior notes, net of unamortized debt issuance costs and discount, totaled $973.0 million at June 30, 2023. The estimated fair value of our 4.875% senior notes was $581.9 million and $595.2 million at June 30, 2023 and December 31, 2022, respectively. The actual carrying value of our 4.875% senior notes, net of unamortized debt issuance costs and discount, totaled $597.0 million and $596.4 million at June 30, 2023 and December 31, 2022, respectively. The estimated fair value of our 2.500% senior notes was $400.4 million and $396.8 million at June 30, 2023 and December 31, 2022, respectively. The actual carrying value of our 2.500% senior notes, net of unamortized debt issuance costs and discount, totaled $489.8 million and $489.3 million at June 30, 2023 and December 31, 2022, respectively (See Note 7). • Notes Payable on Real Estate - As of June 30, 2023 and December 31, 2022, the carrying value of our notes payable on real estate, net of unamortized debt issuance costs, was $32.2 million and $52.7 million, respectively. These notes payable were not recourse to CBRE Group, Inc., except for being recourse to the single-purpose entities that held the real estate assets and were the primary obligors on the notes payable. These borrowings have either fixed interest rates or floating interest rates at spreads added to a market index. Although it is possible that certain portions of our notes payable on real estate may have fair values that differ from their carrying values, based on the terms of such loans as compared to current market conditions, or other factors specific to the borrower entity, we do not believe that the fair value of our notes payable is significantly different than their carrying value.

Investments in Unconsolidated S

Investments in Unconsolidated Subsidiaries	6 Months Ended
	Jun. 30, 2023
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 from 1.0% to 50.0%. The following table represents the composition of investment in unconsolidated subsidiaries under equity method of accounting and fair value option (dollars in thousands): Investment type June 30, 2023 December 31, 2022 Real estate investments (in projects and funds) $ 648,537 $ 622,826 Investment in Altus: Class A common stock (1) 132,602 160,093 Alignment shares (2) 42,294 59,530 Subtotal 174,896 219,624 Other (3) 483,336 475,256 Total investment in unconsolidated subsidiaries $ 1,306,769 $ 1,317,705 _______________ (1) CBRE held 24,556,012 and 24,554,201 shares of Altus Class A common stock as of June 30, 2023 and December 31, 2022, respectively. (2) The alignment shares, also known as Class B common shares, will automatically convert into Altus Class A common shares based on the achievement of certain total return thresholds on Altus Class A common shares as of the relevant measurement date over the seven ears following the merger. As of March 31, 2023 (the second measurement date), 201,250 alignment shares automatically converted into 2,011 shares of Class A common stock, of which CBRE was entitled to 1,811 shares. (3) Consists of our investments in Industrious and other non-public entities. Combined condensed financial information for the entities accounted for using the equity method is as follows (dollars in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Revenue $ 559,330 $ 646,576 $ 4,657,503 $ 1,227,692 Operating (loss) income (58,732) 191,693 3,568,771 465,386 Net (loss) income (1) (1,114,489) 1,499,234 571,846 2,952,081 _______________ (1) Included in net income are realized and unrealized earnings and losses in investments in unconsolidated investment funds and realized earnings and losses from sales of real estate projects in investments in unconsolidated subsidiaries. These realized and unrealized earnings and losses are not included in revenue and operating income.

Long-Term Debt and Short-Term B

Long-Term Debt and Short-Term Borrowings	6 Months Ended
	Jun. 30, 2023
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): June 30, December 31, Senior Euro term loan, with interest of 0.75% plus Euro Interbank Offered Rate (EURIBOR) adj $ 436,205 $ 427,792 5.950% senior notes due in 2034, net of unamortized discount 975,253 — 4.875% senior notes due in 2026, net of unamortized discount 598,613 598,374 2.500% senior notes due in 2031, net of unamortized discount 493,829 493,476 Total long-term debt 2,503,900 1,519,642 Less: current maturities of long-term debt 436,205 427,792 Less: unamortized debt issuance costs 7,898 6,138 Total long-term debt, net of current maturities $ 2,059,797 $ 1,085,712 We maintain credit facilities with third-party lenders, which we use for a variety of purposes. On July 9, 2021, 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 term loan assumption agreement, and such, a March 4, 2019 incremental assumption agreement and such, a July 9, 2021 incremental assumption agreement, collectively, the 2021 Credit Agreement) for purposes of increasing the revolving credit commitments previously available under the 2021 Credit Agreement by an aggregate principal amount of $350.0 million. On December 10, 2021, CBRE Services and certain of the other borrowers entered into a first amendment of the 2021 Credit Agreement which (i) changed the interest rate applicable to revolving borrowings denominated in Sterling from a LIBOR-based rate to a rate based on the Sterling Overnight Index Average (SONIA) and (ii) changed the interest rate applicable to revolving borrowings denominated in Euros from a LIBOR-based rate to a rate based on EURIBOR. The revised interest rates described above went into effect on January 1, 2022. On August 5, 2022, CBRE Group, Inc., as Holdings, and CBRE Global Acquisition Company, as the Luxembourg Borrower, entered into a second amendment to the 2021 Credit Agreement which, among other things (i) amended certain of the representations and warranties, affirmative covenants, negative covenants and events of default in the 2021 Credit Agreement in a manner consistent with the new 5-year senior unsecured Revolving Credit Agreement (as described below), (ii) terminated all revolving commitments previously available to the subsidiaries of the company thereunder and (iii) reflected the resignation of the previous administrative agent and the appointment of Wells Fargo Bank, National Association as the new administrative agent (the 2021 Credit Agreement, as amended by the first amendment and second amendment is referred to in this Quarterly Report as the 2022 Credit Agreement). The 2022 Credit Agreement is a senior unsecured credit facility that is guaranteed by CBRE Group, Inc. and CBRE Services. As of June 30, 2023, the 2022 Credit Agreement provided for a €400.0 million term loan facility due and payable in full at maturity on December 20, 2023. A $3.15 billion revolving credit facility, which included the capacity to obtain letters of credit and swingline loans and would have terminated on March 4, 2024, was previously provided under this agreement and was replaced with a new $3.5 billion 5-year senior unsecured Revolving Credit Agreement entered into on August 5, 2022 (as described below). Borrowings under the euro term loan facility under the 2022 Credit Agreement bear interest at a minimum rate of 0.75% plus EURIBOR and revolving borrowings bear interest, based at our option, on either (1) the applicable fixed rate plus 0.68% 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 2022 Credit Agreement). As of June 30, 2023, we had $436.2 million of euro term loan borrowings outstanding under the 2022 Credit Agreement (at an interest rate of 0.75% plus EURIBOR), net of unamortized debt issuance costs, included as current maturities of long-term debt in the accompanying consolidated balance sheets. Our 2022 Credit Agreement also requires us to maintain a minimum coverage ratio of consolidated EBITDA (as defined in the 2022 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 2022 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 2022 Credit Agreement), 4.75x) as of the end of each fiscal quarter. On July 10, 2023, CBRE Group, Inc., CBRE Services and Relam Amsterdam Holdings B.V., a wholly-owned subsidiary of CBRE Services, entered into a new five year senior unsecured Credit Agreement (the 2023 Credit Agreement). The 2023 Credit Agreement provides for a senior unsecured term loan credit facility comprised of (i) tranche A Euro-denominated term loans in an aggregate principal amount of €366.5 million and (ii) tranche A U.S. Dollar-denominated term loans in an aggregate principal amount of $350.0 million. The proceeds of the term loans under the 2023 Credit Agreement were applied to the repayment of all remaining outstanding loans under the 2022 Credit Agreement, the payment of related fees and expenses and other general corporate purposes. We entered into a cross currency swap to hedge the associated foreign currency exposure related to this transaction. Borrowings denominated in euros under the 2023 Credit Agreement bear interest at a rate equal to (i) the applicable percentage plus (ii) at our option, either (1) the EURIBOR rate for the applicable interest period or (2) a rate determined by reference to Daily Simple Euro Short-Term Rate (ESTR). Borrowings denominated in dollars under the 2023 Credit Agreement bear interest at a rate equal to (i) the applicable percentage, plus (ii) at our option, either (1) the Term SOFR rate for the applicable interest period plus 10 basis points or (2) a base rate determined by the reference to the greatest of (x) the prime rate, (y) the federal funds rate plus 1/2 of 1% and (z) the sum of (A) Term SOFR rate published by CME Group Benchmark Administration Limited for an interest period of one month and (B) 1.00%. The applicable rate for borrowings under the 2023 Credit Agreement are determined by reference to our Credit Rating (as defined in the 2023 Credit Agreement). The term loan borrowings under the 2023 Credit Agreement are guaranteed on a senior basis by CBRE Group, Inc. and CBRE Services. The 2023 Credit Agreement also requires us to maintain a minimum coverage ratio of consolidated EBITDA (as defined in the 2023 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 2023 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 2023 Credit Agreement), 4.75x) as of the end of each fiscal quarter. In addition, the 2023 Credit Agreement also contains other customary affirmative and negative covenants and events of default. On June 23, 2023, CBRE Services issued $1.0 billion in aggregate principal amount of 5.950% senior notes due August 15, 2034 (the 5.950% senior notes) at a price equal to 98.174% of their face value. The 5.950% senior notes are unsecured obligations of CBRE Services, senior to all of its current and future subordinated indebtedness, but effectively subordinated to its current and future secured indebtedness (if any) to the extent of the value of the assets securing such indebtedness. The 5.950% senior notes are guaranteed on a senior basis by CBRE Group, Inc. Interest accrues at a rate of 5.950% per year and is payable semi-annually in arrears on February 15 and August 15 of each year, beginning on February 15, 2024 . The 5.950% senio r notes are redeemable at our option, in whole or in part, on or after May 15, 2034 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 May 15, 2034, 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 May 15, 2034, assuming the notes matured on May 15, 2034, discounted to the date of redemption on a semi-annual basis at an adjusted rate equal to the treasury rate plus 40 basis points, minus accrued interest to the date of redemption, plus, in either case, accrued and unpaid interest, if any, to the redemption date. The amount of the 5.950% senior notes, net of unamortized discount and unamortized debt issuance costs, included in the accompanying consolidated balance sheet was $973.0 million at June 30, 2023. On March 18, 2021, CBRE Services issued $500.0 million in aggregate principal amount of 2.500% senior notes due April 1, 2031 (the 2.500% senior notes) at a price equal to 98.451% of their face value. The 2.500% senior notes are unsecured obligations of CBRE Services, senior to all of its current and future subordinated indebtedness. The 2.500% senior notes are guaranteed on a senior basis by CBRE Group, Inc. 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. On August 13, 2015, CBRE Services issued $600.0 million in aggregate principal amount of 4.875% senior notes due March 1, 2026 (the 4.875% senior notes) 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. The 4.875% senior notes are guaranteed on a senior basis by CBRE Group, Inc. Interest accrues at a rate of 4.875% per year and is payable semi-annually in arrears on March 1 and September 1 of each year. The indentures governing our 5.950% senior notes, 4.875% senior notes and 2.500% senior notes (1) 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, and (2) require that the notes be jointly and severally guaranteed on a senior basis by CBRE Group, Inc. and any domestic subsidiary that guarantees the 2022 Credit Agreement, the 2023 Credit Agreement, or the Revolving Credit Agreement. The indentures also contain other customary affirmative and negative covenants and events of default. We were in compliance with the covenants under our debt instruments as of June 30, 2023. Short-Term Borrowings Revolving Credit Agreement On August 5, 2022, we entered into a new 5-year senior unsecured Revolving Credit Agreement (the “Revolving Credit Agreement”). The Revolving Credit Agreement provides for a senior unsecured revolving credit facility available to CBRE Services with a capacity of $3.5 billion and a maturity date of August 5, 2027. Borrowings bear interest at (i) CBRE Services’ option, either (a) a Term SOFR rate published by CME Group Benchmark Administration Limited for the applicable interest period or (b) a base rate determined by reference to the greatest of (1) the prime rate determined by Wells Fargo, (2) the federal funds rate plus 1/2 of 1% and (3) the sum of (x) a Term SOFR rate published by CME Group Benchmark Administration Limited for an interest period of one month and (y) 1.00% plus (ii) 10 basis points, plus (iii) a rate equal to an applicable rate (in the case of borrowings based on the Term SOFR rate, 0.630% to 1.100% and in the case of borrowings based on the base rate, 0.0% to 0.100%, in each case, as determined by reference to our Debt Rating (as defined in the Revolving Credit Agreement). The applicable rate is also subject to certain increases and/or decreases specified in the Revolving Credit Agreement linked to achieving certain sustainability goals. The Revolving Credit Agreement requires us to pay a fee based on the total amount of the revolving credit facility commitment (whether used or unused). In addition, the Revolving Credit Agreement also includes capacity for letters of credit not to exceed $300.0 million in the aggregate. The Revolving Credit Agreement also requires us to maintain a minimum coverage ratio of consolidated EBITDA (as defined in the Revolving 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 Revolving 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 Revolving Credit Agreement), 4.75x) as of the end of each fiscal quarter. In addition, the Revolving Credit Agreement also contains other customary affirmative and negative covenants and events of default. We were in compliance with the covenants under this agreement as of June 30, 2023. As of June 30, 2023, $583.0 million was outstanding under the Revolving Credit Agreement. No letters of credit were outstanding as of June 30, 2023. Letters of credit are issued in the ordinary course of business and would reduce the amount we may borrow under the Revolving Credit Agreement. Turner & Townsend Revolving Credit Facilities Turner & Townsend has a revolving credit facility with a capacity of £120.0 million and an additional accordion option of £20.0 million that matures on March 31, 2027. As of June 30, 2023, no amount was outstanding under this revolving credit facility. 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	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	Leases We are the lessee in contracts for our office space tenancies and for leased vehicles. 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 June 30, December 31, Assets Operating Operating lease assets $ 983,782 $ 1,033,011 Financing Other assets, net 98,956 91,028 Total leased assets $ 1,082,738 $ 1,124,039 Liabilities Current: Operating Operating lease liabilities $ 242,824 $ 229,591 Financing Other current liabilities 35,595 33,039 Non-current: Operating Non-current operating lease liabilities 1,051,341 1,080,385 Financing Other liabilities 63,804 58,094 Total lease liabilities $ 1,393,564 $ 1,401,109 Supplemental cash flow information and non-cash activity related to our operating and financing leases are as follows (dollars in thousands): Six Months Ended 2023 2022 Right-of-use assets obtained in exchange for new operating lease liabilities $ 70,753 $ 95,056 Right-of-use assets obtained in exchange for new financing lease liabilities 25,454 16,612 Other non-cash (decreases) increases in operating lease right-of-use assets (1) (37,964) 35,787 Other non-cash increases (decreases) in financing lease right-of-use assets (1) 475 (10,427) _______________________________ (1) The non-cash activity in the right-of-use assets resulted from lease modifications/remeasurements and terminations.
Leases	Leases We are the lessee in contracts for our office space tenancies and for leased vehicles. 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 June 30, December 31, Assets Operating Operating lease assets $ 983,782 $ 1,033,011 Financing Other assets, net 98,956 91,028 Total leased assets $ 1,082,738 $ 1,124,039 Liabilities Current: Operating Operating lease liabilities $ 242,824 $ 229,591 Financing Other current liabilities 35,595 33,039 Non-current: Operating Non-current operating lease liabilities 1,051,341 1,080,385 Financing Other liabilities 63,804 58,094 Total lease liabilities $ 1,393,564 $ 1,401,109 Supplemental cash flow information and non-cash activity related to our operating and financing leases are as follows (dollars in thousands): Six Months Ended 2023 2022 Right-of-use assets obtained in exchange for new operating lease liabilities $ 70,753 $ 95,056 Right-of-use assets obtained in exchange for new financing lease liabilities 25,454 16,612 Other non-cash (decreases) increases in operating lease right-of-use assets (1) (37,964) 35,787 Other non-cash increases (decreases) in financing lease right-of-use assets (1) 475 (10,427) _______________________________

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
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 as liabilities on our consolidated financial statements are unlikely to be significant, but litigation is inherently uncertain and there is the potential for a material adverse effect on our consolidated 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 $40.3 billion at June 30, 2023, of which $36.8 billion is 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 June 30, 2023 and December 31, 2022, CBRE MCI had $125.0 million and $113.0 million, respectively, of letters of credit under this reserve arrangement and had recorded a liability of approximately $67.9 million and $65.1 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 $967.5 million (including $517.0 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 June 30, 2023. 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 June 30, 2023 and December 31, 2022, CBRE Capital Markets had posted a $5.0 million letter of credit under this reserve arrangement. We had outstanding letters of credit totaling $220.0 million as of June 30, 2023, 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 $130.0 million as of June 30, 2023 referred to in the preceding paragraphs represented the majority of the $220.0 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 the end of each of the respective agreements. We had guarantees totaling $172.9 million as of June 30, 2023, 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 $172.9 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 June 30, 2023, 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 segment involves investing our capital in certain real estate investments with our clients. For our investment funds, we generally co-invest up to 2.0% of the equity in a particular fund. As of June 30, 2023, we had aggregate future commitments of $89.1 million related to co-investment funds. Additionally, we make selective investments in real estate development projects on our own account or co-invest with our clients with up to 50% of the project's equity as a principal in unconsolidated real estate projects. We had committed capital of $149.8 million and $78.4 million to consolidated and unconsolidated projects, respectively, as of June 30, 2023. Also refer to Note 15 for the Telford Fire Safety Remediation provision.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our provision for income taxes on a consolidated basis was $55.4 million for the three months ended June 30, 2023 as compared to a provision for income taxes of $120.8 million for the three months ended June 30, 2022. The decrease of $65.4 million is primarily related to a decrease in earnings. Our effective tax rate increased to 21.2% for the three months ended June 30, 2023 from 19.8% for the three months ended June 30, 2022. Our provision for income taxes on a consolidated basis was $83.4 million for the six months ended June 30, 2023 as compared to a provision for income taxes of $117.0 million for the six months ended June 30, 2022. The decrease of $33.6 million is primarily related to a decrease from a corresponding change in earnings, offset by a one-time tax benefit in 2022 as a result of legal entity restructuring. Our effective tax rate increased to 20.1% for the six months ended June 30, 2023 from 11.7% for the six months ended June 30, 2022. Our effective tax rates for the three and six months ended June 30, 2023 were different than the U.S. federal statutory tax rate of 21.0% primarily due to U.S. state taxes and favorable permanent book tax differences. As of June 30, 2023 and December 31, 2022, the company had gross unrecognized tax benefits of $400.1 million and $391.4 million, respectively. The increase of $8.7 million resulted from the accrual of gross unrecognized tax benefits offset by the release of gross unrecognized tax benefits due to the expiration of statute of limitations in various tax jurisdictions.

Income Per Share and Stockholde

Income Per Share and Stockholders' Equity	6 Months Ended
	Jun. 30, 2023
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 Six Months Ended 2023 2022 2023 2022 Basic Income Per Share Net income attributable to CBRE Group, Inc. stockholders $ 201,403 $ 487,322 $ 318,295 $ 879,619 Weighted average shares outstanding for basic income per share 310,857,203 325,415,305 310,662,324 328,692,585 Basic income per share attributable to CBRE Group, Inc. stockholders $ 0.65 $ 1.50 $ 1.02 $ 2.68 Diluted Income Per Share Net income attributable to CBRE Group, Inc. stockholders $ 201,403 $ 487,322 $ 318,295 $ 879,619 Weighted average shares outstanding for basic income per share 310,857,203 325,415,305 310,662,324 328,692,585 Dilutive effect of contingently issuable shares 3,425,044 4,428,405 4,159,291 4,821,813 Weighted average shares outstanding for diluted income per share 314,282,247 329,843,710 314,821,615 333,514,398 Diluted income per share attributable to CBRE Group, Inc. stockholders $ 0.64 $ 1.48 $ 1.01 $ 2.64 For the three and six months ended June 30, 2023, 1,433,176 and 988,371, 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. For the three and six months ended June 30, 2022, 1,715,891 and 1,383,041, 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. On November 19, 2021, our board of directors authorized a program for the repurchase of up to $2.0 billion of our Class A common stock over five years (the 2021 program). On August 18, 2022, our board of directors authorized an additional

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023 Advisory Global Real Estate Corporate, other and eliminations Consolidated Topic 606 Revenue: Facilities management $ — $ 3,686,548 $ — $ — $ 3,686,548 Project management — 1,739,514 — — 1,739,514 Advisory leasing 813,952 — — — 813,952 Advisory sales 397,748 — — — 397,748 Property management 480,623 — — (3,529) 477,094 Valuation 179,720 — — — 179,720 Commercial mortgage origination (1) 32,595 — — — 32,595 Loan servicing (2) 18,136 — — — 18,136 Investment management — — 151,327 — 151,327 Development services — — 102,854 — 102,854 Topic 606 Revenue 1,922,774 5,426,062 254,181 (3,529) 7,599,488 Out of Scope of Topic 606 Revenue: Commercial mortgage origination 57,691 — — — 57,691 Loan servicing 61,208 — — — 61,208 Development services (3) — — 1,476 — 1,476 Total Out of Scope of Topic 606 Revenue 118,899 — 1,476 — 120,375 Total Revenue $ 2,041,673 $ 5,426,062 $ 255,657 $ (3,529) $ 7,719,863 Three Months Ended June 30, 2022 Advisory Global Real Estate Corporate, other and eliminations Consolidated Topic 606 Revenue: Facilities management $ — $ 3,820,120 $ — $ — $ 3,820,120 Project management — 1,088,025 — — 1,088,025 Advisory leasing 969,708 — — — 969,708 Advisory sales 715,719 — — — 715,719 Property management 460,992 — — (2,131) 458,861 Valuation 196,539 — — — 196,539 Commercial mortgage origination (1) 81,293 — — — 81,293 Loan servicing (2) 13,833 — — — 13,833 Investment management — — 157,554 — 157,554 Development services — — 102,839 — 102,839 Topic 606 Revenue 2,438,084 4,908,145 260,393 (2,131) 7,604,491 Out of Scope of Topic 606 Revenue: Commercial mortgage origination 79,090 — — — 79,090 Loan servicing 70,809 — — — 70,809 Development services (3) — — 16,888 — 16,888 Total Out of Scope of Topic 606 Revenue 149,899 — 16,888 — 166,787 Total Revenue $ 2,587,983 $ 4,908,145 $ 277,281 $ (2,131) $ 7,771,278 Six Months Ended June 30, 2023 Advisory Global Real Estate Corporate, other and eliminations Consolidated Topic 606 Revenue: Facilities management $ — $ 7,366,709 $ — $ — $ 7,366,709 Project management — 3,397,075 — — 3,397,075 Advisory leasing 1,522,605 — — — 1,522,605 Advisory sales 765,152 — — — 765,152 Property management 944,398 — — (7,851) 936,547 Valuation 345,332 — — — 345,332 Commercial mortgage origination (1) 56,957 — — — 56,957 Loan servicing (2) 35,661 — — — 35,661 Investment management — — 298,817 — 298,817 Development services — — 177,111 — 177,111 Topic 606 Revenue 3,670,105 10,763,784 475,928 (7,851) 14,901,966 Out of Scope of Topic 606 Revenue: Commercial mortgage origination 104,268 — — — 104,268 Loan servicing 121,168 — — — 121,168 Development services (3) — — 3,575 — 3,575 Total Out of Scope of Topic 606 Revenue 225,436 — 3,575 — 229,011 Total Revenue $ 3,895,541 $ 10,763,784 $ 479,503 $ (7,851) $ 15,130,977 Six Months Ended June 30, 2022 Advisory Global Real Estate Corporate, other and eliminations Consolidated Topic 606 Revenue: Facilities management $ — $ 7,620,808 $ — $ — $ 7,620,808 Project management — 2,092,953 — — 2,092,953 Advisory leasing 1,742,430 — — — 1,742,430 Advisory sales 1,335,546 — — — 1,335,546 Property management 916,864 — — (7,019) 909,845 Valuation 377,681 — — — 377,681 Commercial mortgage origination (1) 155,183 — — — 155,183 Loan servicing (2) 27,841 — — — 27,841 Investment management — — 308,121 — 308,121 Development services — — 202,494 — 202,494 Topic 606 Revenue 4,555,545 9,713,761 510,615 (7,019) 14,772,902 Out of Scope of Topic 606 Revenue: Commercial mortgage origination 150,070 — — — 150,070 Loan servicing 130,816 — — — 130,816 Development services (3) — — 50,423 — 50,423 Total Out of Scope of Topic 606 Revenue 280,886 — 50,423 — 331,309 Total Revenue $ 4,836,431 $ 9,713,761 $ 561,038 $ (7,019) $ 15,104,211 _______________________________ (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. Contract Assets and Liabilities We had contract assets totaling $510.0 million ($369.7 million of which was current) and $529.1 million ($391.6 million of which was current) as of June 30, 2023 and December 31, 2022, respectively.

Segments

Segments	6 Months Ended
	Jun. 30, 2023
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. In addition, we also have a “Corporate, other and elimination” segment. Our Corporate segment primarily consists of corporate headquarters costs for executive officers and certain other central functions. We track our strategic non-core non-controlling equity investments in “other” which is considered an operating segment and reported together with Corporate but does not meet the aggregation criteria for presentation as a separate reportable segment. These activities are not allocated to the other business segments. Corporate and other also includes eliminations related to inter-segment revenue. Segment operating profit (SOP) is the measure reported to the chief operating decision marker (CODM) for purposes of making decisions about allocating resources to each segment and assessing performance of each segment. Segment operating profit represents earnings, inclusive of amounts attributable to non-controlling interest, 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 to align with the timing of associated revenue, fair value adjustments to real estate assets acquired in the Telford acquisition (purchase accounting) that were sold in the period, costs incurred related to legal entity restructuring, efficiency and cost-reduction initiatives, integration and other costs related to acquisitions and a provision associated with Telford's fire safety remediation efforts. This metric excludes the impact of corporate overhead as these costs are reported under Corporate and other. Summarized financial information by segment is as follows (dollars in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Revenue Advisory Services $ 2,041,673 $ 2,587,983 $ 3,895,541 $ 4,836,431 Global Workplace Solutions 5,426,062 4,908,145 10,763,784 9,713,761 Real Estate Investments 255,657 277,281 479,503 561,038 Corporate, other and eliminations (1) (3,529) (2,131) (7,851) (7,019) Total revenue $ 7,719,863 $ 7,771,278 $ 15,130,977 $ 15,104,211 Segment Operating Profit Advisory Services $ 315,443 $ 520,657 $ 585,175 $ 986,311 Global Workplace Solutions 232,680 218,296 462,336 421,032 Real Estate Investments 33,131 274,518 164,629 441,570 Total reportable segment operating profit $ 581,254 $ 1,013,471 $ 1,212,140 $ 1,848,913 _______________________________ (1) Eliminations represent revenue from transactions with other operating segments. See Note 12. Reconciliation of total reportable segment operating profit to net income is as follows (dollars in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Net income attributable to CBRE Group, Inc. $ 201,403 $ 487,322 $ 318,295 $ 879,619 Net income attributable to non-controlling interests 4,750 2,594 12,931 $ 6,568 Net income 206,153 489,916 331,226 $ 886,187 Adjustments to increase (decrease) net income: Depreciation and amortization 154,387 162,359 315,878 311,391 Asset impairments — 26,405 — 36,756 Interest expense, net of interest income 42,982 18,518 71,396 31,344 Provision for income taxes 55,404 120,762 83,439 117,024 Carried interest incentive compensation (reversal) expense to align with the timing of associated revenue (459) (7,495) 6,519 15,361 Impact of fair value adjustments to real estate assets acquired in the Telford acquisition (purchase accounting) that were sold in period — (1,451) — (3,147) Costs incurred related to legal entity restructuring — 10,245 — 11,921 Integration and other costs related to acquisitions 36,444 8,209 54,578 16,330 Costs associated with efficiency and cost-reduction initiatives 2,310 — 140,557 — Provision associated with Telford’s fire safety remediation efforts (1) — 37,505 — 37,505 Corporate and other loss, including eliminations 84,033 148,498 208,547 388,241 Total reportable segment operating profit $ 581,254 $ 1,013,471 $ 1,212,140 $ 1,848,913 ______________ (1) See Note 15 for additional information. 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 Six Months Ended 2023 2022 2023 2022 Revenue United States $ 4,211,104 $ 4,436,115 $ 8,355,700 $ 8,567,512 United Kingdom 1,055,985 1,046,493 2,051,413 2,032,491 All other countries 2,452,774 2,288,670 4,723,864 4,504,208 Total revenue $ 7,719,863 $ 7,771,278 $ 15,130,977 $ 15,104,211

Efficiency and Cost-Reduction I

Efficiency and Cost-Reduction Initiatives	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Efficiency and Cost-Reduction Initiatives	Efficiency and Cost-Reduction InitiativesDuring the third quarter of 2022, we launched certain cost and operational efficiency initiatives to further improve the company’s resiliency in an economic downturn while enabling continued operating platform investments that support future growth. The efficiency initiatives include management and workforce structure simplification, occupancy footprint rationalization and certain third-party spending reductions. As part of this, we incurred certain cash and non-cash charges. Non-cash charges are primarily associated with acceleration of depreciation and write-down of lease and related assets, partially offset by release of lease liability, as part of our lease termination activities. Cash-based charges are primarily related to employee separation benefits, lease and certain contract exit costs, and professional fees. These initiatives were largely completed as of March 31, 2023. The following table presents the detail of expense incurred by segment (dollars in thousands): Six Months Ended June 30, 2023 Advisory Global Real Estate Corporate Consolidated Employee separation benefits $ 19,158 $ 29,858 $ 13,158 $ 2,538 $ 64,712 Lease exit costs 39,273 731 4,204 1,143 45,351 Professional fees and other 5,963 19,209 4,097 1,225 30,494 Subtotal 64,394 49,798 21,459 4,906 140,557 Depreciation expense 5,453 44 3,482 — 8,979 Total $ 69,847 $ 49,842 $ 24,941 $ 4,906 $ 149,536 Of the total expenses above, $2.3 million were incurred during the three months ended June 30, 2023 and the remaining $147.2 million were incurred during the three months ended March 31, 2023. The following table shows ending liability balance associated with major cash-based charges (dollars in thousands): Employee separation benefits Professional fees and other Balance at December 31, 2022 $ 37,014 $ 10,600 Expense incurred 64,712 30,494 Payments made (77,215) (41,094) Balance at June 30, 2023 $ 24,511 $ —

Telford Fire Safety Remediation

Telford Fire Safety Remediation	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Telford Fire Safety Remediation	Telford Fire Safety Remediation On March 16, 2023, Telford Homes entered into a legally binding agreement with the U.K. government, under which Telford Homes will (1) take responsibility for performing or funding self-remediation works relating to certain life-critical fire-safety issues on all Telford Homes-constructed buildings of 11 meters in height or greater in England constructed in the last 30 years (in-scope buildings) and (2) withdraw Telford Homes-developed buildings from the government-sponsored Building Safety Fund (BSF) and Aluminum Composite Material (ACM) Funds or reimburse the government funds for the cost of remediation of in-scope buildings. The accompanying consolidated balance sheets include an estimated liability of approximately $193.2 million and $185.9 million as of June 30, 2023 and December 31, 2022, respectively, related to remediation efforts. The balance increased as of June 30, 2023 primarily due to the movement of foreign exchange rates, partially offset by certain insignificant costs incurred for work performed during the quarter. We did not record any additional provision this quarter as the June 30, 2023 balance remains our best estimate of potential losses associated with overall remediation efforts. The potential liability and number of buildings affected may change as in-scope buildings are assessed, scopes of remediation are agreed with interested parties (freeholders and leaseholders) and the required remediation work is tendered for each building, all of which is anticipated to result in a lengthy process. We will continue to assess new information as it becomes available and adjust our estimated liability accordingly.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income attributable to CBRE Group, Inc.	$ 201,403	$ 487,322	$ 318,295	$ 879,619

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

New Accounting Pronouncements (

New Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [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, 2022, which are included in our 2022 Annual Report on Form 10-K (2022 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 2022 Annual Report for further discussion of our significant accounting policies and estimates. Considerations Related to Tightening Monetary Policy The macroeconomic environment remains challenging as central banks have continued to rapidly raise interest rates. The rising rate environment, coupled with large bank failures in early 2023 and ongoing economic uncertainty, has limited credit availability to commercial real estate. Less available and more expensive debt capital has had pronounced effects on our capital markets (mortgage origination and property sales) businesses, making property acquisitions and dispositions harder to finance. Similar factors also impact the timing of and proceeds generated from asset sales within our investment management and development businesses and our ability to obtain debt capital to begin new development projects. Financial Statement Preparation
Use of Estimates	The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions about future events, such as weakening global macroeconomic conditions and stress in the banking system, including less available and more expensive debt capital. These estimates and the underlying assumptions affect the reported amounts of assets, liabilities, revenues 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.
Recent Accounting Pronouncements Pending Adoption	Recent Accounting Pronouncements Pending Adoption In June 2022, the Financial Standards Board (FASB) issued Accounting Standards Update (ASU) 2022-03, “ Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restriction s.” Topic 820, Fair Value Measurement, states that a reporting entity should consider the characteristics of the asset or liability when measuring the fair value, including restrictions on the sale of the asset or liability, if a market participant would take those characteristics into account and the key to that determination is the unit of account for the asset or liability being measured at fair value. Topic 820 contains conflicting guidance on what the unit of account is when measuring the fair value of an equity security and this has resulted in diversity in practice on whether the effects of a contractual restriction that prohibits the sale of an equity security should be considered in measuring the equity security’s fair value. To address this, the amendments in the ASU clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The ASU introduces new disclosure requirements to provide investors with information about the restriction including the nature and remaining duration of the restriction. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. We are evaluating the effect that this guidance will have on our consolidated financial statements and related disclosures, but do not expect it to have a material impact. In March 2023, the FASB issued ASU 2023-01, “Leases (Topic 842): Common Control Arrangements.” This update requires that leasehold improvements associated with common control leases be amortized over the useful life of the leasehold improvements to the common control group (regardless of the lease term) and accounted for as a transfer between entities under common control through an adjustment to equity if, and when, the lessee no longer controls the use of the underlying asset. This update also provides a practical expedient for private companies and not-for-profit entities to use written terms and conditions of a common control arrangement to determine if a lease exists and the classification and accounting for that lease. This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. We are evaluating the effect that this guidance will have on our consolidated financial statements and related disclosures, but do not expect it to have a material impact. In March 2023, the FASB issued ASU 2023-02, “Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization method.”

Warehouse Receivables & Wareh_2

Warehouse Receivables & Warehouse Lines of Credit (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2022 $ 455,354 Origination of mortgage loans 4,893,898 Gains (premiums on loan sales) 12,185 Proceeds from sale of mortgage loans: Sale of mortgage loans (4,344,263) Cash collections of premiums on loan sales (12,185) Proceeds from sale of mortgage loans (4,356,448) Net increase in mortgage servicing rights included in warehouse receivables 4,781 Ending balance at June 30, 2023 $ 1,009,770
Schedule of Warehouse Lines of Credit in Place	he following table is a summary of our warehouse lines of credit in place as of June 30, 2023 and December 31, 2022 (dollars in thousands): June 30, 2023 December 31, 2022 Lender Current Pricing Maximum Carrying Maximum Carrying JP Morgan Chase Bank, N.A. (JP Morgan) 12/15/2023 daily floating rate Secured Overnight Financing Rate (SOFR) rate plus 1.60%, with a SOFR adjustment rate of 0.05% $ 1,335,000 $ 721,573 $ 1,335,000 $ 330,509 JP Morgan (Business Lending Activity) 12/15/2023 daily floating rate SOFR rate plus 2.75%, with a SOFR adjustment rate of 0.05% 15,000 1,520 15,000 — Fannie Mae Multifamily As Soon As Pooled Plus Agreement and Multifamily As Soon As Pooled Sale Agreement (ASAP) Program Cancelable daily one-month LIBOR plus 1.45%, with a LIBOR floor of 0.25% 650,000 16,295 650,000 — TD Bank, N.A. (TD Bank) (1) 7/15/2023 daily floating rate SOFR rate 1.30%, with a SOFR adjustment rate of 0.10% 800,000 59,516 800,000 — Bank of America, N.A. (BofA) (2) 5/22/2024 daily floating rate SOFR rate plus 1.35%, with a SOFR adjustment rate of 0.10% 350,000 198,331 350,000 115,206 BofA (3) 5/22/2024 daily floating rate SOFR rate 1.35%, with a SOFR adjustment rate of 0.10% 250,000 — 250,000 — MUFG Union Bank, N.A. (Union Bank) (4) — — 200,000 2,125 $ 3,400,000 $ 997,235 $ 3,600,000 $ 447,840 _______________________________ (1) 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. Effective July 15, 2022, this facility was amended with a revised interest rate of daily floating rate SOFR rate plus 1.30%, with a SOFR adjustment rate of 0.10% and a maturity date of July 15, 2023. Effective July 15, 2023, this facility was renewed and amended to a maximum aggregate principal amount of $300.0 million, with an uncommitted $300.0 million temporary line of credit and a maturity date of July 15, 2024. There were no changes to the SOFR rate or the SOFR adjustment rate at renewal. As of June 30, 2023, the uncommitted $400.0 million temporary line of credit was not utilized. (2) Effective May 24, 2023, this facility was renewed with a revised interest rate of daily floating rate SOFR plus 1.35%, with a SOFR adjustment rate of 0.10% and a maturity date of May 22, 2024. (3) Effective May 24, 2023, the advised consent line was renewed for $250.0 million of capacity with a revised interest rate of daily floating rate SOFR plus 1.35%, with a SOFR adjustment rate of 0.10%, and a maturity date of May 22, 2024. (4) This facility expired on June 27, 2023, and was not renewed.

Variable Interest Entities (V_2

Variable Interest Entities (VIEs) (Tables)	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Maximum Exposure to Loss	As of June 30, 2023 and December 31, 2022, our maximum exposure to loss related to VIEs which are not consolidated was as follows (dollars in thousands): June 30, December 31, Investments in unconsolidated subsidiaries $ 169,286 $ 152,762 Co-investment commitments 65,337 83,835 Maximum exposure to loss $ 234,623 $ 236,597

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present the fair value of assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 (dollars in thousands): As of June 30, 2023 Fair Value Measured and Recorded Using Level 1 Level 2 Level 3 Total Assets Available for sale debt securities: U.S. treasury securities $ 12,389 $ — $ — $ 12,389 Debt securities issued by U.S. federal agencies — 11,360 — 11,360 Corporate debt securities — 44,634 — 44,634 Asset-backed securities — 1,942 — 1,942 Total available for sale debt securities 12,389 57,936 — 70,325 Equity securities 37,030 — — 37,030 Investments in unconsolidated subsidiaries 132,602 — 452,887 585,489 Warehouse receivables — 1,009,770 — 1,009,770 Other assets — — 23,535 23,535 Total assets at fair value $ 182,021 $ 1,067,706 $ 476,422 $ 1,726,149 As of December 31, 2022 Fair Value Measured and Recorded Using Level 1 Level 2 Level 3 Total Assets Available for sale debt securities: U.S. treasury securities $ 6,164 $ — $ — $ 6,164 Debt securities issued by U.S. federal agencies — 8,249 — 8,249 Corporate debt securities — 44,091 — 44,091 Asset-backed securities — 3,201 — 3,201 Total available for sale debt securities 6,164 55,541 — 61,705 Equity securities 33,724 — — 33,724 Investments in unconsolidated subsidiaries 160,093 — 460,540 620,633 Warehouse receivables — 455,354 — 455,354 Other assets — — 14,452 14,452 Total assets at fair value $ 199,981 $ 510,895 $ 474,992 $ 1,185,868
Schedule of Reconciliation for Assets Measured at Fair Value	The tables below present a reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (dollars in thousands): Investment in Unconsolidated Subsidiaries Other assets Balance as of March 31, 2023 $ 456,556 $ 20,445 Transfer in (out) — — Net change in fair value (3,669) 100 Purchases / Additions — 2,990 Balance as of June 30, 2023 $ 452,887 $ 23,535 Balance as of December 31, 2022 $ 460,540 $ 14,452 Transfer in (out) (230) — Net change in fair value (7,423) 3,500 Purchases / Additions — 5,583 Balance as of June 30, 2023 $ 452,887 $ 23,535 Net change in fair value, included in the table above, is reported in Net income as follows: Category of Assets/Liabilities using Unobservable Inputs Consolidated Statements of Operations Investments in unconsolidated subsidiaries Equity income from unconsolidated subsidiaries Other assets (liabilities) Other income (loss)
Schedule of Reconciliation for Liabilities Measured at Fair Value	The tables below present a reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (dollars in thousands): Investment in Unconsolidated Subsidiaries Other assets Balance as of March 31, 2023 $ 456,556 $ 20,445 Transfer in (out) — — Net change in fair value (3,669) 100 Purchases / Additions — 2,990 Balance as of June 30, 2023 $ 452,887 $ 23,535 Balance as of December 31, 2022 $ 460,540 $ 14,452 Transfer in (out) (230) — Net change in fair value (7,423) 3,500 Purchases / Additions — 5,583 Balance as of June 30, 2023 $ 452,887 $ 23,535 Net change in fair value, included in the table above, is reported in Net income as follows: Category of Assets/Liabilities using Unobservable Inputs Consolidated Statements of Operations Investments in unconsolidated subsidiaries Equity income from unconsolidated subsidiaries Other assets (liabilities) Other income (loss)
Schedule of Fair Value Measurement Inputs and Valuation Techniques	The table below presents information about the significant unobservable inputs used for recurring fair value measurements for certain Level 3 instruments as of June 30, 2023 : Valuation Technique Unobservable Input Range Weighted Average Investment in unconsolidated subsidiaries Discounted cash flow Discount rate 24.0 % — Monte Carlo Volatility 40.0% - 69.0% 42.6 % Risk free interest rate 4.0 % Discount Yield 25.0 % — Other assets Discounted cash flow Discount rate 24.0 % —

Investments in Unconsolidated_2

Investments in Unconsolidated Subsidiaries (Tables)	6 Months Ended
	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Investments in Unconsolidated Subsidiaries	The following table represents the composition of investment in unconsolidated subsidiaries under equity method of accounting and fair value option (dollars in thousands): Investment type June 30, 2023 December 31, 2022 Real estate investments (in projects and funds) $ 648,537 $ 622,826 Investment in Altus: Class A common stock (1) 132,602 160,093 Alignment shares (2) 42,294 59,530 Subtotal 174,896 219,624 Other (3) 483,336 475,256 Total investment in unconsolidated subsidiaries $ 1,306,769 $ 1,317,705 _______________ (1) CBRE held 24,556,012 and 24,554,201 shares of Altus Class A common stock as of June 30, 2023 and December 31, 2022, respectively. (2) The alignment shares, also known as Class B common shares, will automatically convert into Altus Class A common shares based on the achievement of certain total return thresholds on Altus Class A common shares as of the relevant measurement date over the seven ears following the merger. As of March 31, 2023 (the second measurement date), 201,250 alignment shares automatically converted into 2,011 shares of Class A common stock, of which CBRE was entitled to 1,811 shares. (3) Consists of our investments in Industrious and other non-public entities. Combined condensed financial information for the entities accounted for using the equity method is as follows (dollars in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Revenue $ 559,330 $ 646,576 $ 4,657,503 $ 1,227,692 Operating (loss) income (58,732) 191,693 3,568,771 465,386 Net (loss) income (1) (1,114,489) 1,499,234 571,846 2,952,081 _______________ (1) Included in net income are realized and unrealized earnings and losses in investments in unconsolidated investment funds and realized earnings and losses from sales of real estate projects in investments in unconsolidated subsidiaries. These realized and unrealized earnings and losses are not included in revenue and operating income.

Long-Term Debt and Short-Term_2

Long-Term Debt and Short-Term Borrowings (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consists of the following (dollars in thousands): June 30, December 31, Senior Euro term loan, with interest of 0.75% plus Euro Interbank Offered Rate (EURIBOR) adj $ 436,205 $ 427,792 5.950% senior notes due in 2034, net of unamortized discount 975,253 — 4.875% senior notes due in 2026, net of unamortized discount 598,613 598,374 2.500% senior notes due in 2031, net of unamortized discount 493,829 493,476 Total long-term debt 2,503,900 1,519,642 Less: current maturities of long-term debt 436,205 427,792 Less: unamortized debt issuance costs 7,898 6,138 Total long-term debt, net of current maturities $ 2,059,797 $ 1,085,712

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to our leases is as follows (dollars in thousands): Category Classification June 30, December 31, Assets Operating Operating lease assets $ 983,782 $ 1,033,011 Financing Other assets, net 98,956 91,028 Total leased assets $ 1,082,738 $ 1,124,039 Liabilities Current: Operating Operating lease liabilities $ 242,824 $ 229,591 Financing Other current liabilities 35,595 33,039 Non-current: Operating Non-current operating lease liabilities 1,051,341 1,080,385 Financing Other liabilities 63,804 58,094 Total lease liabilities $ 1,393,564 $ 1,401,109
Supplemental Cash Flow Information and Non-Cash Activity Related to Operating Leases	Supplemental cash flow information and non-cash activity related to our operating and financing leases are as follows (dollars in thousands): Six Months Ended 2023 2022 Right-of-use assets obtained in exchange for new operating lease liabilities $ 70,753 $ 95,056 Right-of-use assets obtained in exchange for new financing lease liabilities 25,454 16,612 Other non-cash (decreases) increases in operating lease right-of-use assets (1) (37,964) 35,787 Other non-cash increases (decreases) in financing lease right-of-use assets (1) 475 (10,427) _______________________________

Income Per Share and Stockhol_2

Income Per Share and Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share And Stockholders Equity [Abstract]
Schedule of 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 Six Months Ended 2023 2022 2023 2022 Basic Income Per Share Net income attributable to CBRE Group, Inc. stockholders $ 201,403 $ 487,322 $ 318,295 $ 879,619 Weighted average shares outstanding for basic income per share 310,857,203 325,415,305 310,662,324 328,692,585 Basic income per share attributable to CBRE Group, Inc. stockholders $ 0.65 $ 1.50 $ 1.02 $ 2.68 Diluted Income Per Share Net income attributable to CBRE Group, Inc. stockholders $ 201,403 $ 487,322 $ 318,295 $ 879,619 Weighted average shares outstanding for basic income per share 310,857,203 325,415,305 310,662,324 328,692,585 Dilutive effect of contingently issuable shares 3,425,044 4,428,405 4,159,291 4,821,813 Weighted average shares outstanding for diluted income per share 314,282,247 329,843,710 314,821,615 333,514,398 Diluted income per share attributable to CBRE Group, Inc. stockholders $ 0.64 $ 1.48 $ 1.01 $ 2.64

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue from Contracts with Customers	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 June 30, 2023 Advisory Global Real Estate Corporate, other and eliminations Consolidated Topic 606 Revenue: Facilities management $ — $ 3,686,548 $ — $ — $ 3,686,548 Project management — 1,739,514 — — 1,739,514 Advisory leasing 813,952 — — — 813,952 Advisory sales 397,748 — — — 397,748 Property management 480,623 — — (3,529) 477,094 Valuation 179,720 — — — 179,720 Commercial mortgage origination (1) 32,595 — — — 32,595 Loan servicing (2) 18,136 — — — 18,136 Investment management — — 151,327 — 151,327 Development services — — 102,854 — 102,854 Topic 606 Revenue 1,922,774 5,426,062 254,181 (3,529) 7,599,488 Out of Scope of Topic 606 Revenue: Commercial mortgage origination 57,691 — — — 57,691 Loan servicing 61,208 — — — 61,208 Development services (3) — — 1,476 — 1,476 Total Out of Scope of Topic 606 Revenue 118,899 — 1,476 — 120,375 Total Revenue $ 2,041,673 $ 5,426,062 $ 255,657 $ (3,529) $ 7,719,863 Three Months Ended June 30, 2022 Advisory Global Real Estate Corporate, other and eliminations Consolidated Topic 606 Revenue: Facilities management $ — $ 3,820,120 $ — $ — $ 3,820,120 Project management — 1,088,025 — — 1,088,025 Advisory leasing 969,708 — — — 969,708 Advisory sales 715,719 — — — 715,719 Property management 460,992 — — (2,131) 458,861 Valuation 196,539 — — — 196,539 Commercial mortgage origination (1) 81,293 — — — 81,293 Loan servicing (2) 13,833 — — — 13,833 Investment management — — 157,554 — 157,554 Development services — — 102,839 — 102,839 Topic 606 Revenue 2,438,084 4,908,145 260,393 (2,131) 7,604,491 Out of Scope of Topic 606 Revenue: Commercial mortgage origination 79,090 — — — 79,090 Loan servicing 70,809 — — — 70,809 Development services (3) — — 16,888 — 16,888 Total Out of Scope of Topic 606 Revenue 149,899 — 16,888 — 166,787 Total Revenue $ 2,587,983 $ 4,908,145 $ 277,281 $ (2,131) $ 7,771,278 Six Months Ended June 30, 2023 Advisory Global Real Estate Corporate, other and eliminations Consolidated Topic 606 Revenue: Facilities management $ — $ 7,366,709 $ — $ — $ 7,366,709 Project management — 3,397,075 — — 3,397,075 Advisory leasing 1,522,605 — — — 1,522,605 Advisory sales 765,152 — — — 765,152 Property management 944,398 — — (7,851) 936,547 Valuation 345,332 — — — 345,332 Commercial mortgage origination (1) 56,957 — — — 56,957 Loan servicing (2) 35,661 — — — 35,661 Investment management — — 298,817 — 298,817 Development services — — 177,111 — 177,111 Topic 606 Revenue 3,670,105 10,763,784 475,928 (7,851) 14,901,966 Out of Scope of Topic 606 Revenue: Commercial mortgage origination 104,268 — — — 104,268 Loan servicing 121,168 — — — 121,168 Development services (3) — — 3,575 — 3,575 Total Out of Scope of Topic 606 Revenue 225,436 — 3,575 — 229,011 Total Revenue $ 3,895,541 $ 10,763,784 $ 479,503 $ (7,851) $ 15,130,977 Six Months Ended June 30, 2022 Advisory Global Real Estate Corporate, other and eliminations Consolidated Topic 606 Revenue: Facilities management $ — $ 7,620,808 $ — $ — $ 7,620,808 Project management — 2,092,953 — — 2,092,953 Advisory leasing 1,742,430 — — — 1,742,430 Advisory sales 1,335,546 — — — 1,335,546 Property management 916,864 — — (7,019) 909,845 Valuation 377,681 — — — 377,681 Commercial mortgage origination (1) 155,183 — — — 155,183 Loan servicing (2) 27,841 — — — 27,841 Investment management — — 308,121 — 308,121 Development services — — 202,494 — 202,494 Topic 606 Revenue 4,555,545 9,713,761 510,615 (7,019) 14,772,902 Out of Scope of Topic 606 Revenue: Commercial mortgage origination 150,070 — — — 150,070 Loan servicing 130,816 — — — 130,816 Development services (3) — — 50,423 — 50,423 Total Out of Scope of Topic 606 Revenue 280,886 — 50,423 — 331,309 Total Revenue $ 4,836,431 $ 9,713,761 $ 561,038 $ (7,019) $ 15,104,211 _______________________________ (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.

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Summarized Financial Information by Segment	Summarized financial information by segment is as follows (dollars in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Revenue Advisory Services $ 2,041,673 $ 2,587,983 $ 3,895,541 $ 4,836,431 Global Workplace Solutions 5,426,062 4,908,145 10,763,784 9,713,761 Real Estate Investments 255,657 277,281 479,503 561,038 Corporate, other and eliminations (1) (3,529) (2,131) (7,851) (7,019) Total revenue $ 7,719,863 $ 7,771,278 $ 15,130,977 $ 15,104,211 Segment Operating Profit Advisory Services $ 315,443 $ 520,657 $ 585,175 $ 986,311 Global Workplace Solutions 232,680 218,296 462,336 421,032 Real Estate Investments 33,131 274,518 164,629 441,570 Total reportable segment operating profit $ 581,254 $ 1,013,471 $ 1,212,140 $ 1,848,913 _______________________________ (1) Eliminations represent revenue from transactions with other operating segments. See Note 12.
Schedule of Reconciliation of Reportable Segment Operating Profit to Net Income	Reconciliation of total reportable segment operating profit to net income is as follows (dollars in thousands): Three Months Ended Six Months Ended 2023 2022 2023 2022 Net income attributable to CBRE Group, Inc. $ 201,403 $ 487,322 $ 318,295 $ 879,619 Net income attributable to non-controlling interests 4,750 2,594 12,931 $ 6,568 Net income 206,153 489,916 331,226 $ 886,187 Adjustments to increase (decrease) net income: Depreciation and amortization 154,387 162,359 315,878 311,391 Asset impairments — 26,405 — 36,756 Interest expense, net of interest income 42,982 18,518 71,396 31,344 Provision for income taxes 55,404 120,762 83,439 117,024 Carried interest incentive compensation (reversal) expense to align with the timing of associated revenue (459) (7,495) 6,519 15,361 Impact of fair value adjustments to real estate assets acquired in the Telford acquisition (purchase accounting) that were sold in period — (1,451) — (3,147) Costs incurred related to legal entity restructuring — 10,245 — 11,921 Integration and other costs related to acquisitions 36,444 8,209 54,578 16,330 Costs associated with efficiency and cost-reduction initiatives 2,310 — 140,557 — Provision associated with Telford’s fire safety remediation efforts (1) — 37,505 — 37,505 Corporate and other loss, including eliminations 84,033 148,498 208,547 388,241 Total reportable segment operating profit $ 581,254 $ 1,013,471 $ 1,212,140 $ 1,848,913 ______________ (1) See Note 15 for additional information.
Schedule 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 Six Months Ended 2023 2022 2023 2022 Revenue United States $ 4,211,104 $ 4,436,115 $ 8,355,700 $ 8,567,512 United Kingdom 1,055,985 1,046,493 2,051,413 2,032,491 All other countries 2,452,774 2,288,670 4,723,864 4,504,208 Total revenue $ 7,719,863 $ 7,771,278 $ 15,130,977 $ 15,104,211

Efficiency and Cost-Reduction_2

Efficiency and Cost-Reduction Initiatives (Tables)	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Summary of Expense Incurred By Segments	The following table presents the detail of expense incurred by segment (dollars in thousands): Six Months Ended June 30, 2023 Advisory Global Real Estate Corporate Consolidated Employee separation benefits $ 19,158 $ 29,858 $ 13,158 $ 2,538 $ 64,712 Lease exit costs 39,273 731 4,204 1,143 45,351 Professional fees and other 5,963 19,209 4,097 1,225 30,494 Subtotal 64,394 49,798 21,459 4,906 140,557 Depreciation expense 5,453 44 3,482 — 8,979 Total $ 69,847 $ 49,842 $ 24,941 $ 4,906 $ 149,536
Schedule of Liability Balance Associated with major Cash-based Charges	The following table shows ending liability balance associated with major cash-based charges (dollars in thousands): Employee separation benefits Professional fees and other Balance at December 31, 2022 $ 37,014 $ 10,600 Expense incurred 64,712 30,494 Payments made (77,215) (41,094) Balance at June 30, 2023 $ 24,511 $ —

Warehouse Receivables & Wareh_3

Warehouse Receivables & Warehouse Lines of Credit - Narrative (Details) - Warehouse Agreement Borrowings $ in Billions	6 Months Ended
	Jun. 30, 2023 USD ($)
Short-term Debt [Line Items]
Period of repayment for warehouse lines of credit	1 month
Lines of credit principal outstanding	$ 1.1

Warehouse Receivables & Wareh_4

Warehouse Receivables & Warehouse Lines of Credit - Warehouse Receivables Activity (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Warehouse Receivables Activity [Roll Forward]
Beginning balance	$ 455,354
Origination of mortgage loans	4,893,898	$ 6,984,779
Gains (premiums on loan sales)	12,185
Proceeds from sale of mortgage loans:
Sale of mortgage loans	(4,344,263)
Cash collections of premiums on loan sales	(12,185)
Proceeds from sale of mortgage loans	(4,356,448)	$ (7,270,423)
Net increase in mortgage servicing rights included in warehouse receivables	4,781
Ending balance	$ 1,009,770

Warehouse Receivables & Wareh_5

Warehouse Receivables & Warehouse Lines of Credit - Summary of Warehouse Lines of Credit in Place (Details) - USD ($)			6 Months Ended
	Jul. 15, 2023	May 25, 2022	Jun. 30, 2023	Dec. 31, 2022	Jul. 01, 2020
Short-term Debt [Line Items]
Carrying Value			$ 997,235,000	$ 447,840,000
Revolving credit facility			583,000,000	178,000,000
Bank of America (BofA) | BofA, pricing | Secured Overnight Financing Rate (SOFR) Adjustment
Short-term Debt [Line Items]
Variable rate (as a percent)		0.10%
Warehouse Agreement Borrowings
Short-term Debt [Line Items]
Maximum Facility Size			3,400,000,000	3,600,000,000
Carrying Value			997,235,000	447,840,000
Warehouse Agreement Borrowings | JP Morgan | JP Morgan Chase Bank, N.A. (JP Morgan), Pricing
Short-term Debt [Line Items]
Maximum Facility Size			1,335,000,000	1,335,000,000
Carrying Value			$ 721,573,000	330,509,000
Warehouse Agreement Borrowings | JP Morgan | JP Morgan Chase Bank, N.A. (JP Morgan), Pricing | Secured Overnight Financing Rate (SOFR) Overnight Index Swap
Short-term Debt [Line Items]
Variable rate (as a percent)			1.60%
Warehouse Agreement Borrowings | JP Morgan | JP Morgan Chase Bank, N.A. (JP Morgan), Pricing | Secured Overnight Financing Rate (SOFR) Adjustment
Short-term Debt [Line Items]
Variable rate (as a percent)			0.05%
Warehouse Agreement Borrowings | JP Morgan | JP Morgan, Pricing
Short-term Debt [Line Items]
Maximum Facility Size			$ 15,000,000	15,000,000
Carrying Value			$ 1,520,000	0
Warehouse Agreement Borrowings | JP Morgan | JP Morgan, Pricing | Secured Overnight Financing Rate (SOFR) Overnight Index Swap
Short-term Debt [Line Items]
Variable rate (as a percent)			2.75%
Warehouse Agreement Borrowings | JP Morgan | JP Morgan, Pricing | Secured Overnight Financing Rate (SOFR) Adjustment
Short-term Debt [Line Items]
Variable rate (as a percent)			0.05%
Warehouse Agreement Borrowings | Fannie Mae ASAP Program | Fannie Mae Multifamily ASAP Program, Pricing
Short-term Debt [Line Items]
Maximum Facility Size			$ 650,000,000	650,000,000
Carrying Value			$ 16,295,000	0
Warehouse Agreement Borrowings | Fannie Mae ASAP Program | Fannie Mae Multifamily ASAP Program, Pricing | London Interbank Offered Rate (LIBOR) | Maximum
Short-term Debt [Line Items]
Variable rate (as a percent)			1.45%
Warehouse Agreement Borrowings | Fannie Mae ASAP Program | Fannie Mae Multifamily ASAP Program, Pricing | London Interbank Offered Rate (LIBOR) | Minimum
Short-term Debt [Line Items]
Variable rate (as a percent)			0.25%
Warehouse Agreement Borrowings | TD Bank | TD Bank, Pricing
Short-term Debt [Line Items]
Maximum Facility Size			$ 800,000,000	800,000,000	$ 400,000,000
Carrying Value			59,516,000	0
Revolving credit facility			$ 400,000,000		$ 400,000,000
Warehouse Agreement Borrowings | TD Bank | TD Bank, Pricing | Subsequent Event
Short-term Debt [Line Items]
Maximum Facility Size	$ 300,000,000
Revolving credit facility	$ 300,000,000
Warehouse Agreement Borrowings | TD Bank | TD Bank, Pricing | Secured Overnight Financing Rate (SOFR) Overnight Index Swap
Short-term Debt [Line Items]
Variable rate (as a percent)			1.30%
Warehouse Agreement Borrowings | TD Bank | TD Bank, Pricing | Secured Overnight Financing Rate (SOFR) Overnight Index Swap | Subsequent Event
Short-term Debt [Line Items]
Variable rate (as a percent)	1.30%
Warehouse Agreement Borrowings | TD Bank | TD Bank, Pricing | Secured Overnight Financing Rate (SOFR) Adjustment
Short-term Debt [Line Items]
Variable rate (as a percent)			0.10%
Warehouse Agreement Borrowings | TD Bank | TD Bank, Pricing | Secured Overnight Financing Rate (SOFR) Adjustment | Subsequent Event
Short-term Debt [Line Items]
Variable rate (as a percent)	0.10%
Warehouse Agreement Borrowings | Bank of America (BofA) | Bank of America, Pricing
Short-term Debt [Line Items]
Maximum Facility Size			$ 350,000,000	350,000,000
Carrying Value			$ 198,331,000	115,206,000
Warehouse Agreement Borrowings | Bank of America (BofA) | Bank of America, Pricing | Secured Overnight Financing Rate (SOFR) Overnight Index Swap
Short-term Debt [Line Items]
Variable rate (as a percent)			1.35%
Warehouse Agreement Borrowings | Bank of America (BofA) | Bank of America, Pricing | Secured Overnight Financing Rate (SOFR) Adjustment
Short-term Debt [Line Items]
Variable rate (as a percent)			0.10%
Warehouse Agreement Borrowings | Bank of America (BofA) | Bank of America, Pricing | London Interbank Offered Rate (LIBOR)
Short-term Debt [Line Items]
Variable rate (as a percent)		1.35%
Warehouse Agreement Borrowings | Bank of America (BofA) | Bank of America, Pricing | Sublimit Borrowing Agreement | Secured Overnight Financing Rate (SOFR) Adjustment
Short-term Debt [Line Items]
Variable rate (as a percent)		0.10%
Warehouse Agreement Borrowings | Bank of America (BofA) | BofA, pricing
Short-term Debt [Line Items]
Maximum Facility Size		$ 250,000,000	$ 250,000,000	250,000,000
Carrying Value			$ 0	0
Warehouse Agreement Borrowings | Bank of America (BofA) | BofA, pricing | Secured Overnight Financing Rate (SOFR) Overnight Index Swap
Short-term Debt [Line Items]
Variable rate (as a percent)		1.35%	1.35%
Warehouse Agreement Borrowings | Bank of America (BofA) | BofA, pricing | Secured Overnight Financing Rate (SOFR) Adjustment
Short-term Debt [Line Items]
Variable rate (as a percent)			0.10%
Warehouse Agreement Borrowings | MUFG Union Bank, N.A. (Union Bank) | MUFG Union Bank, N.A. (Union Bank), Pricing
Short-term Debt [Line Items]
Maximum Facility Size			$ 0	200,000,000
Carrying Value			$ 0	$ 2,125,000

Variable Interest Entities (V_3

Variable Interest Entities (VIEs) (Details) - Variable Interest Entity, Not Primary Beneficiary - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Investments in unconsolidated subsidiaries	$ 169,286	$ 152,762
Co-investment commitments	65,337	83,835
Maximum exposure to loss	$ 234,623	$ 236,597

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Investments in unconsolidated subsidiaries	$ 944,505	$ 973,635
Warehouse receivables	1,009,770	455,354
Recurring
Assets
Available for sale debt securities	70,325	61,705
Equity securities	37,030	33,724
Investments in unconsolidated subsidiaries	585,489	620,633
Warehouse receivables	1,009,770	455,354
Other assets	23,535	14,452
Total assets at fair value	1,726,149	1,185,868
Liabilities at fair value	0	0
Recurring | Level 1
Assets
Available for sale debt securities	12,389	6,164
Equity securities	37,030	33,724
Investments in unconsolidated subsidiaries	132,602	160,093
Warehouse receivables	0	0
Other assets	0	0
Total assets at fair value	182,021	199,981
Recurring | Level 2
Assets
Available for sale debt securities	57,936	55,541
Equity securities	0	0
Investments in unconsolidated subsidiaries	0	0
Warehouse receivables	1,009,770	455,354
Other assets	0	0
Total assets at fair value	1,067,706	510,895
Recurring | Level 3
Assets
Available for sale debt securities	0	0
Equity securities	0	0
Investments in unconsolidated subsidiaries	452,887	460,540
Warehouse receivables	0	0
Other assets	23,535	14,452
Total assets at fair value	476,422	474,992
Recurring | U.S. treasury securities
Assets
Available for sale debt securities	12,389	6,164
Recurring | U.S. treasury securities | Level 1
Assets
Available for sale debt securities	12,389	6,164
Recurring | U.S. treasury securities | Level 2
Assets
Available for sale debt securities	0	0
Recurring | U.S. treasury securities | Level 3
Assets
Available for sale debt securities	0	0
Recurring | Debt securities issued by U.S. federal agencies
Assets
Available for sale debt securities	11,360	8,249
Recurring | Debt securities issued by U.S. federal agencies | Level 1
Assets
Available for sale debt securities	0	0
Recurring | Debt securities issued by U.S. federal agencies | Level 2
Assets
Available for sale debt securities	11,360	8,249
Recurring | Debt securities issued by U.S. federal agencies | Level 3
Assets
Available for sale debt securities	0	0
Recurring | Corporate debt securities
Assets
Available for sale debt securities	44,634	44,091
Recurring | Corporate debt securities | Level 1
Assets
Available for sale debt securities	0	0
Recurring | Corporate debt securities | Level 2
Assets
Available for sale debt securities	44,634	44,091
Recurring | Corporate debt securities | Level 3
Assets
Available for sale debt securities	0	0
Recurring | Asset-backed securities
Assets
Available for sale debt securities	1,942	3,201
Recurring | Asset-backed securities | Level 1
Assets
Available for sale debt securities	0	0
Recurring | Asset-backed securities | Level 2
Assets
Available for sale debt securities	1,942	3,201
Recurring | Asset-backed securities | Level 3
Assets
Available for sale debt securities	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investment in VTS			$ (122,700)
Asset impairments	$ 0	$ 26,405	0	$ 36,756
Investments in unconsolidated subsidiaries at fair value using NAV	359,000		359,000		$ 353,000
Non-public entity designated as trading debt security	10,000		10,000
Notes payable on real estate	$ 32,200		$ 32,200		52,700
Real estate investments (in projects and funds)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Asset impairments				$ 10,400
Impairment loss		$ 26,400
5.950% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	5.95%		5.95%
4.875% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	4.875%		4.875%
2.500% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate	2.50%		2.50%
Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior term loans	$ 434,600		$ 434,600		424,600
Estimated Fair Value | 5.950% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	987,100		987,100
Estimated Fair Value | 4.875% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	581,900		581,900		595,200
Estimated Fair Value | 2.500% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	400,400		400,400		396,800
Actual Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior term loans	436,200		436,200		427,800
Actual Carrying Value | 5.950% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	973,000		973,000
Actual Carrying Value | 4.875% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	597,000		597,000		596,400
Actual Carrying Value | 2.500% Senior Notes | Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Senior notes	$ 489,800		$ 489,800		$ 489,300

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Reconciliation for Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Investment in Unconsolidated Subsidiaries
Investment in Unconsolidated Subsidiaries
Beginning balance	$ 456,556	$ 460,540
Transfer in (out)	0
Transfer in (out)		(230)
Net change in fair value	(3,669)	(7,423)
Purchases / Additions	0	0
Ending balance	452,887	452,887
Other assets
Other assets
Beginning balance	20,445	14,452
Transfer in (out)	0
Transfer in (out)		0
Net change in fair value	100	3,500
Purchases / Additions	2,990	5,583
Ending balance	$ 23,535	$ 23,535

Fair Value Measurements - Unobs

Fair Value Measurements - Unobservable Inputs (Details)	Jun. 30, 2023
Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment in unconsolidated subsidiaries, measurement input	0.240
Weighted average, measurement input	0%
Other assets, measurement input	0.240
Other assets, weighted average, measurement input	0%
Volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted average, measurement input	42.60%
Volatility | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment in unconsolidated subsidiaries, measurement input	0.400
Volatility | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment in unconsolidated subsidiaries, measurement input	0.690
Risk free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment in unconsolidated subsidiaries, measurement input	0.040
Weighted average, measurement input
Discount Yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment in unconsolidated subsidiaries, measurement input	0.250
Weighted average, measurement input	0%

Investments in Unconsolidated_3

Investments in Unconsolidated Subsidiaries - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023
Schedule of Equity Method Investments [Line Items]
Alignment shares, relevant measurement period following merger (in years)	7 years
Ownership Percentage | Minimum
Schedule of Equity Method Investments [Line Items]
Equity method investments in unconsolidated subsidiaries, variations in ownership percentage	1%
Ownership Percentage | Maximum
Schedule of Equity Method Investments [Line Items]
Equity method investments in unconsolidated subsidiaries, variations in ownership percentage	50%

Investments in Unconsolidated_4

Investments in Unconsolidated Subsidiaries - Equity Method Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Total investment in unconsolidated subsidiaries	$ 1,306,769	$ 1,317,705
Real estate investments (in projects and funds)
Schedule of Equity Method Investments [Line Items]
Total investment in unconsolidated subsidiaries	648,537	622,826
Altus Power, Inc.
Schedule of Equity Method Investments [Line Items]
Total investment in unconsolidated subsidiaries	$ 174,896	$ 219,624
Common stock shares (in shares)	24,556,012	24,554,201
Altus Power, Inc. | Alignment Share or Class B Common Shares
Schedule of Equity Method Investments [Line Items]
Alignment shares converted (in shares)	201,250
Altus Power, Inc. | Common Class A
Schedule of Equity Method Investments [Line Items]
Total investment in unconsolidated subsidiaries	$ 132,602	$ 160,093
Shares converted to Class A common stock (in shares)	2,011
Altus Power, Inc. | Common Class A | Parent Company
Schedule of Equity Method Investments [Line Items]
Shares converted to Class A common stock (in shares)	1,811
Alignment shares | Alignment Share or Class B Common Shares
Schedule of Equity Method Investments [Line Items]
Total investment in unconsolidated subsidiaries	$ 42,294	59,530
Other
Schedule of Equity Method Investments [Line Items]
Total investment in unconsolidated subsidiaries	$ 483,336	$ 475,256

Investments in Unconsolidated_5

Investments in Unconsolidated Subsidiaries - Schedule of Condensed Financial Information of Equity Method Investments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Equity Method Investments [Line Items]
Revenue	$ 7,719,863	$ 7,771,278	$ 15,130,977	$ 15,104,211
Operating (loss) income	306,429	516,937	343,794	893,889
Net (loss) income	206,153	489,916	331,226	886,187
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Schedule of Equity Method Investments [Line Items]
Revenue	559,330	646,576	4,657,503	1,227,692
Operating (loss) income	(58,732)	191,693	3,568,771	465,386
Net (loss) income	$ (1,114,489)	$ 1,499,234	$ 571,846	$ 2,952,081

Long-Term Debt and Short-Term_3

Long-Term Debt and Short-Term Borrowings - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total long-term debt	$ 2,503,900	$ 1,519,642
Less: current maturities of long-term debt	436,205	427,792
Less: unamortized debt issuance costs	7,898	6,138
Long-term debt, net of current maturities	2,059,797	1,085,712
Senior Secured Term Loans
Debt Instrument [Line Items]
Total long-term debt	$ 436,205	427,792
Senior Secured Term Loans | Euro Interbank Offered Rate
Debt Instrument [Line Items]
Variable rate (as a percent)	0.75%
5.950% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate	5.95%
Total long-term debt	$ 975,253	0
4.875% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate	4.875%
Total long-term debt	$ 598,613	598,374
2.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Interest rate	2.50%
Total long-term debt	$ 493,829	$ 493,476

Long-Term Debt and Short-Term_4

Long-Term Debt and Short-Term Borrowings - Narrative (Details)					6 Months Ended
	Jul. 10, 2023 USD ($)	Jun. 23, 2023 USD ($)	Aug. 05, 2022 USD ($)	Aug. 13, 2015 USD ($)	Jun. 30, 2023 USD ($)	Jul. 10, 2023 EUR (€)	Jun. 30, 2023 EUR (€)	Dec. 31, 2022 USD ($)	Jul. 09, 2021 USD ($)	Mar. 18, 2021 USD ($)
Debt Instrument [Line Items]
Letters of credit outstanding amount					$ 220,000,000
Revolving credit facility					$ 583,000,000			$ 178,000,000
2021 Credit Agreement
Debt Instrument [Line Items]
Minimum coverage ratio of EBITDA to total interest expense expressed in percentage					200%
Maximum leverage ratio of total debt less available cash to EBITDA expressed in percentage					425%
Maximum leverage ratio during first four quarter that qualified acquisition is consummated					475%
Revolving Credit Agreement | Senior Notes
Debt Instrument [Line Items]
Minimum coverage ratio of EBITDA to total interest expense expressed in percentage			2%
Maximum leverage ratio of total debt less available cash to EBITDA expressed in percentage			4.25%
Maximum leverage ratio during first four quarter that qualified acquisition is consummated			4.75%
2023 Credit Agreement with Wells Fargo | Subsequent Event
Debt Instrument [Line Items]
Interest rate	1,000%					1,000%
Minimum coverage ratio of EBITDA to total interest expense expressed in percentage	200%
Maximum leverage ratio of total debt less available cash to EBITDA expressed in percentage	425%
Maximum leverage ratio during first four quarter that qualified acquisition is consummated	475%
2023 Credit Agreement with Wells Fargo | Secured Overnight Financing Rate (SOFR) Overnight Index Swap | Subsequent Event
Debt Instrument [Line Items]
Variable rate (as a percent)	1%
2023 Credit Agreement with Wells Fargo | Fed Funds Effective Rate Overnight Index Swap Rate | Subsequent Event
Debt Instrument [Line Items]
Variable rate (as a percent)	0.50%
2023 Credit Agreement with Wells Fargo | Unsecured Debt | Subsequent Event
Debt Instrument [Line Items]
Debt agreement term	5 years
2023 Credit Agreement with Wells Fargo, Tranche A Euro Denominated Term Loan | Unsecured Debt | Subsequent Event
Debt Instrument [Line Items]
Aggregate principal amount | €						€ 366,500,000
2023 Credit Agreement with Wells Fargo, Tranche A, US Dollar Denominated Term Loan | Unsecured Debt | Subsequent Event
Debt Instrument [Line Items]
Aggregate principal amount	$ 350,000,000
5.950% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount		$ 1,000,000,000
Interest rate					5.95%		5.95%
Percentage of face value		98.174%
5.950% Senior Notes | Senior Notes | Actual Carrying Value
Debt Instrument [Line Items]
Senior notes					$ 973,000,000
5.950% Senior Notes | Senior Notes | On Or After January 1, 2031
Debt Instrument [Line Items]
Redemption price percentage		100%
5.950% Senior Notes | Senior Notes | US Treasury (UST) Interest Rate
Debt Instrument [Line Items]
Semi-annual basis adjustment (basis points)					0.40%
2.500% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount										$ 500,000,000
Interest rate					2.50%		2.50%
Percentage of face value										98.451%
2.500% Senior Notes | Senior Notes | Actual Carrying Value
Debt Instrument [Line Items]
Senior notes					$ 489,800,000			489,300,000
4.875% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount				$ 600,000,000
Interest rate					4.875%		4.875%
Redemption price percentage				99.24%
4.875% Senior Notes | Senior Notes | Actual Carrying Value
Debt Instrument [Line Items]
Senior notes					$ 597,000,000			$ 596,400,000
Revolving credit facility | 2021 Credit Agreement
Debt Instrument [Line Items]
Aggregate principal amount									$ 350,000,000
Debt agreement term			5 years
Amounts available to borrow under credit agreement					$ 3,150,000,000
Revolving credit facility | 2021 Credit Agreement | Minimum
Debt Instrument [Line Items]
Credit agreement applicable fixed rate spread					0.68%
Credit agreement applicable daily rate spread					0%
Revolving credit facility | 2021 Credit Agreement | Maximum
Debt Instrument [Line Items]
Credit agreement applicable fixed rate spread					1.075%
Credit agreement applicable daily rate spread					0.075%
Revolving credit facility | Revolving Credit Agreement
Debt Instrument [Line Items]
Debt agreement term			5 years
Amounts available to borrow under credit agreement			$ 3,500,000,000
Interest rate			1,000%
Revolving credit facility | Revolving Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Letters of credit outstanding amount			$ 300,000,000
Revolving credit facility | Revolving Credit Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap
Debt Instrument [Line Items]
Variable rate (as a percent)			1%
Revolving credit facility | Revolving Credit Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap | Minimum
Debt Instrument [Line Items]
Variable rate (as a percent)			0.63%
Revolving credit facility | Revolving Credit Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap | Maximum
Debt Instrument [Line Items]
Variable rate (as a percent)			1.10%
Revolving credit facility | Revolving Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Variable rate (as a percent)			0%
Revolving credit facility | Revolving Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Variable rate (as a percent)			0.10%
Revolving credit facility | Revolving Credit Agreement | Fed Funds Effective Rate Overnight Index Swap Rate
Debt Instrument [Line Items]
Variable rate (as a percent)			0.50%
Revolving credit facility | 2019 Credit Agreement
Debt Instrument [Line Items]
Revolving credit facility			$ 583,000,000
Revolving credit facility | 2019 Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Letters of credit outstanding amount			$ 0
Revolving credit facility | 2027 Credit Agreement | Turner & Townsend
Debt Instrument [Line Items]
Amounts available to borrow under credit agreement | €							€ 120,000,000
Revolving credit facility					$ 0
Additional accordion option | €							20,000,000
Euro term loan facility | 2021 Credit Agreement
Debt Instrument [Line Items]
Aggregate principal amount | €							€ 400,000,000
Borrowings outstanding					$ 436,200,000
Euro term loan facility | 2021 Credit Agreement | Senior Notes | Europe Interbank Offered Rate (EURIBOR) | Minimum
Debt Instrument [Line Items]
Variable rate (as a percent)					0.75%

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Operating	$ 983,782	$ 1,033,011
Financing	98,956	91,028
Total leased assets	$ 1,082,738	$ 1,124,039
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets, net	Other assets, net
Current:
Operating	$ 242,824	$ 229,591
Financing	$ 35,595	$ 33,039
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Non-current:
Operating	$ 1,051,341	$ 1,080,385
Financing	$ 63,804	$ 58,094
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities
Total lease liabilities	$ 1,393,564	$ 1,401,109

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information and Non-Cash Activity Related to Operating Leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Right-of-use assets obtained in exchange for new operating lease liabilities	$ 70,753	$ 95,056
Right-of-use assets obtained in exchange for new financing lease liabilities	25,454	16,612
Other non-cash (decreases) increases in operating lease right-of-use assets	(37,964)	35,787
Other non-cash increases (decreases) in financing lease right-of-use assets	$ 475	$ (10,427)

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Funded loans unpaid principal	$ 40,300
Letters of credit outstanding	220
Accrued loan loss	67.9	$ 65.1
Assets available for recourse	967.5
Guarantees total	172.9
Commitments to investment in future real estate investment	$ 89.1
Maximum Future Commitments Equity In Real Estate Investment, Percent	2%
Commitments to investment in future real estate investment	0.50
Commitment to investment in consolidated projects	$ 149.8
Commitments to investment in unconsolidated real estate subsidiary	78.4
Warehouse Receivable
Loss Contingencies [Line Items]
Warehouse receivables	517
Funded loans subject to loss sharing arrangements
Loss Contingencies [Line Items]
Funded loans unpaid principal	36,800
Letters of credit outstanding	125	113
SBL Program
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 5	$ 5
Percentage of maximum original principal amount loan loss	10%
Funded loans not subject to loss sharing arrangements
Loss Contingencies [Line Items]
Letters of credit outstanding	$ 130

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Contingency [Line Items]
Provision for income taxes	$ 55,404	$ 120,762	$ 83,439	$ 117,024
Increase (decrease) in income taxes	$ (65,400)		$ (33,600)
Effective tax rate	21.20%	19.80%		11.70%
Federal statutory tax rate	21%		21%
Unrecognized tax benefits	$ 400,100		$ 400,100		$ 391,400
Increase (decrease) in unrecognized tax benefits			$ 8,700
Maximum
Income Tax Contingency [Line Items]
Effective tax rate			20.10%

Income Per Share and Stockhol_3

Income Per Share and Stockholders' Equity - Calculations of Basic and Diluted Income Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Basic Income Per Share
Net income attributable to CBRE Group, Inc. stockholders	$ 201,403	$ 487,322	$ 318,295	$ 879,619
Weighted average shares outstanding for basic income per share (in shares)	310,857,203	325,415,305	310,662,324	328,692,585
Basic income per share attributable to CBRE Group, Inc. stockholders (in dollars per share)	$ 0.65	$ 1.50	$ 1.02	$ 2.68
Diluted Income Per Share
Net income attributable to CBRE Group, Inc. stockholders	$ 201,403	$ 487,322	$ 318,295	$ 879,619
Weighted average shares outstanding for basic income per share (in shares)	310,857,203	325,415,305	310,662,324	328,692,585
Dilutive effect of contingently issuable shares (in shares)	3,425,044	4,428,405	4,159,291	4,821,813
Weighted average shares outstanding for diluted income per share (in shares)	314,282,247	329,843,710	314,821,615	333,514,398
Diluted income per share attributable to CBRE Group, Inc. stockholders (in dollars per share)	$ 0.64	$ 1.48	$ 1.01	$ 2.64

Income Per Share and Stockhol_4

Income Per Share and Stockholders' Equity - Narrative (Details) - USD ($)		3 Months Ended			6 Months Ended
	Nov. 19, 2021	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Aug. 18, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares repurchased during the period, value				$ 611,309,000	$ 114,249,000	$ 1,002,172,000
Capacity remaining under current stock repurchase programs		$ 2,000,000,000			2,000,000,000
Class A common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares repurchased during the period, value				75,000	$ 14,000	117,000
November 2021 Repurchase Program
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Authorized share repurchase amount	$ 2,000,000,000						$ 4,000,000,000
Authorized share repurchase term	5 years
Additional authorized amount							$ 2,000,000,000
Shares repurchased during the period, value		$ 0	$ 114,200,000	$ 611,200,000		$ 1,000,000,000
Shares repurchased during the period (in shares)			1,368,173	7,510,123		11,688,509
November 2021 Repurchase Program | Class A common stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Average price per share (in dollars per share)			$ 83.48
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)		1,433,176		1,715,891	988,371	1,383,041

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	$ 7,599,488	$ 7,604,491	$ 14,901,966	$ 14,772,902
Total Out of Scope of Topic 606 Revenue	120,375	166,787	229,011	331,309
Total Revenue	7,719,863	7,771,278	15,130,977	15,104,211
Corporate, other and eliminations
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	(3,529)	(2,131)	(7,851)	(7,019)
Total Out of Scope of Topic 606 Revenue	0	0	0	0
Total Revenue	(3,529)	(2,131)	(7,851)	(7,019)
Advisory Services | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	1,922,774	2,438,084	3,670,105	4,555,545
Total Out of Scope of Topic 606 Revenue	118,899	149,899	225,436	280,886
Total Revenue	2,041,673	2,587,983	3,895,541	4,836,431
Global Workplace Solutions | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	5,426,062	4,908,145	10,763,784	9,713,761
Total Out of Scope of Topic 606 Revenue	0	0	0	0
Total Revenue	5,426,062	4,908,145	10,763,784	9,713,761
Real Estate Investments | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	254,181	260,393	475,928	510,615
Total Out of Scope of Topic 606 Revenue	1,476	16,888	3,575	50,423
Total Revenue	255,657	277,281	479,503	561,038
Facilities management
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	3,686,548	3,820,120	7,366,709	7,620,808
Facilities management | Global Workplace Solutions | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	3,686,548	3,820,120	7,366,709	7,620,808
Project management
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	1,739,514	1,088,025	3,397,075	2,092,953
Project management | Global Workplace Solutions | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	1,739,514	1,088,025	3,397,075	2,092,953
Advisory leasing
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	813,952	969,708	1,522,605	1,742,430
Advisory leasing | Advisory Services | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	813,952	969,708	1,522,605	1,742,430
Advisory sales
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	397,748	715,719	765,152	1,335,546
Advisory sales | Advisory Services | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	397,748	715,719	765,152	1,335,546
Property management
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	477,094	458,861	936,547	909,845
Property management | Corporate, other and eliminations
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	(3,529)	(2,131)	(7,851)	(7,019)
Property management | Advisory Services | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	480,623	460,992	944,398	916,864
Valuation
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	179,720	196,539	345,332	377,681
Valuation | Advisory Services | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	179,720	196,539	345,332	377,681
Commercial mortgage origination
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	32,595	81,293	56,957	155,183
Total Out of Scope of Topic 606 Revenue	57,691	79,090	104,268	150,070
Commercial mortgage origination | Advisory Services | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	32,595	81,293	56,957	155,183
Total Out of Scope of Topic 606 Revenue	57,691	79,090	104,268	150,070
Loan servicing
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	18,136	13,833	35,661	27,841
Total Out of Scope of Topic 606 Revenue	61,208	70,809	121,168	130,816
Loan servicing | Advisory Services | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	18,136	13,833	35,661	27,841
Total Out of Scope of Topic 606 Revenue	61,208	70,809	121,168	130,816
Investment management
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	151,327	157,554	298,817	308,121
Investment management | Real Estate Investments | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	151,327	157,554	298,817	308,121
Development services
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	102,854	102,839	177,111	202,494
Total Out of Scope of Topic 606 Revenue	1,476	16,888	3,575	50,423
Development services | Real Estate Investments | Operating Segments
Disaggregation of Revenue [Line Items]
Topic 606 Revenue	102,854	102,839	177,111	202,494
Total Out of Scope of Topic 606 Revenue	$ 1,476	$ 16,888	$ 3,575	$ 50,423

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract assets	$ 510,000	$ 510,000	$ 529,100
Contract assets, current	369,652	369,652	391,626
Contract liabilities	270,500	270,500	284,300
Contract liabilities, current	263,703	263,703	$ 276,334
Recognized revenue included in contract liability	$ (17,800)	$ (201,000)

Segments - Additional Informati

Segments - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Global business segments	3

Segments - Summarized Financial

Segments - Summarized Financial Information by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenue	$ 7,719,863	$ 7,771,278	$ 15,130,977	$ 15,104,211
Total reportable segment operating profit	581,254	1,013,471	1,212,140	1,848,913
Operating Segments | Advisory Services
Segment Reporting Information [Line Items]
Revenue	2,041,673	2,587,983	3,895,541	4,836,431
Total reportable segment operating profit	315,443	520,657	585,175	986,311
Operating Segments | Global Workplace Solutions
Segment Reporting Information [Line Items]
Revenue	5,426,062	4,908,145	10,763,784	9,713,761
Total reportable segment operating profit	232,680	218,296	462,336	421,032
Operating Segments | Real Estate Investments
Segment Reporting Information [Line Items]
Revenue	255,657	277,281	479,503	561,038
Total reportable segment operating profit	33,131	274,518	164,629	441,570
Corporate, other and eliminations
Segment Reporting Information [Line Items]
Revenue	(3,529)	(2,131)	(7,851)	(7,019)
Total reportable segment operating profit	$ 84,033	$ 148,498	$ 208,547	$ 388,241

Segments - Reconciliation of To

Segments - Reconciliation of Total Reportable Segment Operating Profit to Net Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Net income attributable to CBRE Group, Inc.	$ 201,403	$ 487,322	$ 318,295	$ 879,619
Less: Net income attributable to non-controlling interests	4,750	2,594	12,931	6,568
Net income	206,153	489,916	331,226	886,187
Adjustments to increase (decrease) net income:
Depreciation and amortization	154,387	162,359	315,878	311,391
Asset impairments	0	26,405	0	36,756
Interest expense, net of interest income	42,982	18,518	71,396	31,344
Provision for income taxes	55,404	120,762	83,439	117,024
Carried interest incentive compensation (reversal) expense to align with the timing of associated revenue	(459)	(7,495)	6,519	15,361
Impact of fair value adjustments to real estate assets acquired in the Telford acquisition (purchase accounting) that were sold in period	0	(1,451)	0	(3,147)
Costs incurred related to legal entity restructuring	0	10,245	0	11,921
Integration and other costs related to acquisitions	36,444	8,209	54,578	16,330
Costs associated with efficiency and cost-reduction initiatives	2,310	0	140,557	0
Provision associated with Telford’s fire safety remediation efforts	0	37,505	0	37,505
Total reportable segment operating profit	581,254	1,013,471	1,212,140	1,848,913
Corporate and other loss, including eliminations
Adjustments to increase (decrease) net income:
Total reportable segment operating profit	$ 84,033	$ 148,498	$ 208,547	$ 388,241

Segments - Summary of Geographi

Segments - Summary of Geographic Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 7,719,863	$ 7,771,278	$ 15,130,977	$ 15,104,211
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	4,211,104	4,436,115	8,355,700	8,567,512
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	1,055,985	1,046,493	2,051,413	2,032,491
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 2,452,774	$ 2,288,670	$ 4,723,864	$ 4,504,208

Efficiency and Cost-Reduction_3

Efficiency and Cost-Reduction Initiatives - Transformation and workforce optimization (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2023
Efficiency And Cost Reduction
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 2,300	$ 147,200	$ 149,536
Efficiency And Cost Reduction | Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges			4,906
Efficiency And Cost Reduction | Advisory Services | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			69,847
Efficiency And Cost Reduction | Global Workplace Solutions | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			49,842
Efficiency And Cost Reduction | Real estate investments (in projects and funds) | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			24,941
Employee separation benefits
Restructuring Cost and Reserve [Line Items]
Restructuring charges			64,712
Employee separation benefits | Efficiency And Cost Reduction
Restructuring Cost and Reserve [Line Items]
Restructuring charges			64,712
Employee separation benefits | Efficiency And Cost Reduction | Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges			2,538
Employee separation benefits | Efficiency And Cost Reduction | Advisory Services | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			19,158
Employee separation benefits | Efficiency And Cost Reduction | Global Workplace Solutions | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			29,858
Employee separation benefits | Efficiency And Cost Reduction | Real estate investments (in projects and funds) | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			13,158
Lease exit costs | Efficiency And Cost Reduction
Restructuring Cost and Reserve [Line Items]
Restructuring charges			45,351
Lease exit costs | Efficiency And Cost Reduction | Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges			1,143
Lease exit costs | Efficiency And Cost Reduction | Advisory Services | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			39,273
Lease exit costs | Efficiency And Cost Reduction | Global Workplace Solutions | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			731
Lease exit costs | Efficiency And Cost Reduction | Real estate investments (in projects and funds) | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			4,204
Professional fees and other
Restructuring Cost and Reserve [Line Items]
Restructuring charges			30,494
Professional fees and other | Efficiency And Cost Reduction
Restructuring Cost and Reserve [Line Items]
Restructuring charges			30,494
Professional fees and other | Efficiency And Cost Reduction | Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges			1,225
Professional fees and other | Efficiency And Cost Reduction | Advisory Services | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			5,963
Professional fees and other | Efficiency And Cost Reduction | Global Workplace Solutions | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			19,209
Professional fees and other | Efficiency And Cost Reduction | Real estate investments (in projects and funds) | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			4,097
Subtotal | Efficiency And Cost Reduction
Restructuring Cost and Reserve [Line Items]
Restructuring charges			140,557
Subtotal | Efficiency And Cost Reduction | Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges			4,906
Subtotal | Efficiency And Cost Reduction | Advisory Services | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			64,394
Subtotal | Efficiency And Cost Reduction | Global Workplace Solutions | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			49,798
Subtotal | Efficiency And Cost Reduction | Real estate investments (in projects and funds) | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			21,459
Depreciation expense | Efficiency And Cost Reduction
Restructuring Cost and Reserve [Line Items]
Restructuring charges			8,979
Depreciation expense | Efficiency And Cost Reduction | Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Restructuring charges			0
Depreciation expense | Efficiency And Cost Reduction | Advisory Services | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			5,453
Depreciation expense | Efficiency And Cost Reduction | Global Workplace Solutions | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			44
Depreciation expense | Efficiency And Cost Reduction | Real estate investments (in projects and funds) | Operating Segments
Restructuring Cost and Reserve [Line Items]
Restructuring charges			$ 3,482

Efficiency and Cost-Reduction_4

Efficiency and Cost-Reduction Initiatives - Liability Balance Associated with major Cash-based Charges (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Employee separation benefits
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	$ 37,014
Expense incurred	64,712
Payments made	(77,215)
Restructuring Reserve, Ending Balance	24,511
Professional fees and other
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Beginning Balance	10,600
Expense incurred	30,494
Payments made	(41,094)
Restructuring Reserve, Ending Balance	$ 0

Efficiency and Cost-Reduction_5

Efficiency and Cost-Reduction Initiatives (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Cost of revenues
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 17.3
Operating, administrative and other expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 123.2

Telford Fire Safety Remediati_2

Telford Fire Safety Remediation (Details) - Telford Fire Safety Remediation - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Estimated environmental liability	$ 193.2	$ 185.9
Additional provision recorded in the period	$ 0