Cushman & Wakefield (CWK) 10-Q 6 Nov 19 2019 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Document And Entity Information [Abstract]
Entity Registrant Name	Cushman & Wakefield plc
Entity Central Index Key	0001628369
Current Fiscal Year End Data	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		219,170,366

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 400.1	$ 895.3
Trade and other receivables, net of allowance balance of $56.7 million and $49.5 million, as of September 30, 2019 and December 31, 2018, respectively	1,352	1,463.5
Income tax receivable	43.7	41.1
Prepaid expenses and other current assets	494	343.4
Total current assets	2,289.8	2,743.3
Property and equipment, net	288.2	313.8
Goodwill	1,930.7	1,778.5
Intangible assets, net	1,093.6	1,128.2
Equity method investments	8	8.7
Deferred tax assets	80.9	84
Non-current operating lease assets	502.8
Other non-current assets	460.4	489.5
Total assets	6,654.4	6,546
Current liabilities:
Short-term borrowings and current portion of long-term debt	40.3	39.9
Accounts payable and accrued expenses	957.6	1,047.7
Accrued compensation	666.7	817.9
Income tax payable	93.9	43.2
Other current liabilities	185.7	90
Total current liabilities	1,944.2	2,038.7
Long-term debt	2,625.3
Long-term debt		2,644.2
Deferred tax liabilities	13.9	136.4
Non-current operating lease liabilities	468.5
Other non-current liabilities	368.3	366.6
Total liabilities	5,420.2	5,185.9
Commitments and contingencies
Shareholders' Equity:
Ordinary shares, nominal value $0.10 per share, 219.0 and 216.6 shares issued and outstanding at September 30, 2019 and at December 31, 2018, respectively	21.9	21.7
Additional paid-in capital	2,810.9	2,791.2
Treasury stock, at cost	(0.4)	0
Accumulated deficit	(1,300.1)	(1,298.4)
Accumulated other comprehensive loss	(298.1)	(154.4)
Total equity	1,234.2	1,360.1
Total liabilities and shareholders' equity	$ 6,654.4	$ 6,546

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Trade and other receivables, allowance	$ 56.7	$ 49.5
Ordinary shares, nominal value per share (in dollars per share)	$ 0.10	$ 0.10
Ordinary shares issued (in shares)	219	216.6
Ordinary shares outstanding (in shares)	219	216.6

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Revenue	$ 2,118.8	$ 2,076	$ 6,143.5	$ 5,818
Costs and expenses:
Cost of services (exclusive of depreciation and amortization)	1,692.2	1,687.4	4,944.1	4,727
Operating, administrative and other	315.2	297.6	908.9	905.8
Depreciation and amortization	75	71.6	222.8	213
Restructuring, impairment and related charges	(0.6)	(1.2)	3.5	2.8
Total costs and expenses	2,081.8	2,055.4	6,079.3	5,848.6
Operating earnings (loss)	37	20.6	64.2	(30.6)
Interest expense, net of interest income	(37.4)	(92.7)	(112.8)	(189.1)
Earnings from equity method investments	0.7	0.4	2	1.2
Other income (expense), net	0.4	(0.3)	3.2	2.7
Earnings (loss) before income taxes	0.7	(72)	(43.4)	(215.8)
Benefit from income taxes	(11)	(30.6)	(40.5)	(48)
Net income (loss)	$ 11.7	$ (41.4)	$ (2.9)	$ (167.8)
Basic and diluted earnings (loss) per share:
Earnings (loss) per share attributable to common shareholders, basic (in dollars per share)	$ 0.05	$ (0.23)	$ (0.01)	$ (1.06)
Weighted average shares outstanding for basic earnings (loss) per share (in shares)	218	184	217.2	158.5
Earnings (loss) per share attributable to common shareholders, diluted (in dollars per share)	$ 0.05	$ (0.23)	$ (0.01)	$ (1.06)
Weighted average shares outstanding for diluted earnings (loss) per share (in shares)	224.5	184	217.2	158.5

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 11.7	$ (41.4)	$ (2.9)	$ (167.8)
Other comprehensive loss, net of tax:
Designated hedge (losses) gains	(27.7)		(111)
Designated hedge (losses) gains		4.6		26.2
Defined benefit plan actuarial gains	0.2	0.1	0.2	0.2
Foreign currency translation	(34.4)	(12.2)	(32.9)	(38)
Total other comprehensive loss	(61.9)	(7.5)	(143.7)	(11.6)
Total comprehensive loss	$ (50.2)	$ (48.9)	$ (146.6)	$ (179.4)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) shares in Millions, $ in Millions	Total	Ordinary Shares	Treasury Stock	Additional Paid-in Capital	Accumulated Deficit	Unrealized Hedging (Losses) Gains	Unrealized Hedging (Losses) Gains	Foreign Currency Translation	Defined Benefit Plans	Total Accumulated Other Comprehensive Loss, net of tax
Beginning Balance (in shares) at Dec. 31, 2017		145.1
Beginning balance at Dec. 31, 2017	$ 499.4	$ 1,451.3		$ 283.8	$ (1,148.5)	$ 19.6		$ (101.1)	$ (5.7)	$ (87.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Capital reduction	0	$ (1,436.7)		1,436.7
Share issuances (in shares)		0.5
Share issuances	8.7	$ 0		8.7
Net income (loss)	(167.8)				(167.8)
Stock-based compensation (in shares)		0
Stock-based compensation	43.1			43.1
Vesting of shares related to equity compensation plans, net amounts withheld for payment of taxes (in shares)		0.8
Vesting of shares related to equity compensation plans, net amounts withheld for payment of taxes	(8.2)	$ 0.1		(8.3)
Foreign currency translation	(38)							(38)		(38)
Defined benefit plans actuarial gain	0.2								0.2	0.2
Unrealized gain (loss) on hedging instruments	38.6					38.6				38.6
Amounts reclassified from AOCI to the statement of operations	(12.4)					(12.4)				(12.4)
Proceeds from Issuance Initial Public Offering	831.4
Proceeds from IPO and concurrent private placement, net of underwriting and other expenses (in shares)		62.3
Proceeds from IPO and concurrent Private Placement, net of underwriting and other expenses	993.9	$ 6.2		987.7
Other Activity	9.8			9.8
Ending Balance (in shares) at Sep. 30, 2018		208.7
Ending balance at Sep. 30, 2018	1,403.2	$ 20.9		2,761.5	(1,280.4)	45.8		(139.1)	(5.5)	(98.8)
Beginning Balance (in shares) at Jun. 30, 2018		145.8
Beginning balance at Jun. 30, 2018	436.8	$ 14.6		1,752.5	(1,239)	41.2		(126.9)	(5.6)	(91.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(41.4)				(41.4)
Stock-based compensation	14.5			14.5
Vesting of shares related to equity compensation plans, net amounts withheld for payment of taxes (in shares)		0.6
Vesting of shares related to equity compensation plans, net amounts withheld for payment of taxes	(4.6)	$ 0.1		(4.7)
Foreign currency translation	(12.2)							(12.2)		(12.2)
Defined benefit plans actuarial gain	0.1								0.1	0.1
Unrealized gain (loss) on hedging instruments	7.6					7.6				7.6
Amounts reclassified from AOCI to the statement of operations	(3)					(3)				(3)
Proceeds from IPO and concurrent private placement, net of underwriting and other expenses (in shares)		62.3
Proceeds from IPO and concurrent Private Placement, net of underwriting and other expenses	993.9	$ 6.2		987.7
Other Activity	(11.5)			11.5
Ending Balance (in shares) at Sep. 30, 2018		208.7
Ending balance at Sep. 30, 2018	1,403.2	$ 20.9		2,761.5	(1,280.4)	$ 45.8		(139.1)	(5.5)	(98.8)
Beginning Balance (in shares) at Dec. 31, 2018		216.6
Beginning balance at Dec. 31, 2018	1,360.1	$ 21.7		2,791.2	(1,298.4)		$ 13.9	(163.4)	(4.9)	(154.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(2.9)				(2.9)
Stock-based compensation	46.3			46.3
Vesting of shares related to equity compensation plans, net amounts withheld for payment of taxes (in shares)		2.4
Vesting of shares related to equity compensation plans, net amounts withheld for payment of taxes	(25.2)	$ 0.2		(25.4)
Share repurchased	(0.4)		$ (0.4)
Foreign currency translation	(32.9)							(32.9)		(32.9)
Defined benefit plans actuarial gain	0.2								0.2	0.2
Unrealized gain (loss) on hedging instruments	(105.9)						(105.9)			(105.9)
Amounts reclassified from AOCI to the statement of operations	(5.1)						(5.1)			(5.1)
Proceeds from Issuance Initial Public Offering	0
Ending Balance (in shares) at Sep. 30, 2019		219
Ending balance at Sep. 30, 2019	1,234.2	$ 21.9	(0.4)	2,810.9	(1,300.1)		(97.1)	(196.3)	(4.7)	(298.1)
Beginning Balance (in shares) at Jun. 30, 2019		217
Beginning balance at Jun. 30, 2019	1,288	$ 21.7		2,814.3	(1,311.8)		(69.4)	(161.9)	(4.9)	(236.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	11.7				11.7
Stock-based compensation (in shares)		0
Stock-based compensation	16.2			16.2
Vesting of shares related to equity compensation plans, net amounts withheld for payment of taxes (in shares)		2
Vesting of shares related to equity compensation plans, net amounts withheld for payment of taxes	(19.4)	$ 0.2		(19.6)
Share repurchased	(0.4)		(0.4)
Foreign currency translation	(34.4)							(34.4)		(34.4)
Defined benefit plans actuarial gain	0.2								0.2	0.2
Unrealized gain (loss) on hedging instruments	(26.6)						(26.6)			(26.6)
Amounts reclassified from AOCI to the statement of operations	(1.1)						(1.1)			(1.1)
Ending Balance (in shares) at Sep. 30, 2019		219
Ending balance at Sep. 30, 2019	$ 1,234.2	$ 21.9	$ (0.4)	$ 2,810.9	$ (1,300.1)		$ (97.1)	$ (196.3)	$ (4.7)	$ (298.1)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Net income (loss)	$ (2.9)	$ (167.8)
Reconciliation of net loss to net cash used in operating activities:
Depreciation and amortization	222.8	213
Impairment charges	3.9	0
Unrealized foreign exchange loss	1.5	7.8
Stock-based compensation	46.2	43.1
Loss on debt extinguishment	0	50.4
Lease amortization	84.9	0
Amortization of debt issuance costs	3.5	10.4
Change in deferred taxes	(140.5)	(60.7)
Bad debt expense	18.2	12.4
Other non-cash operating activities	(17.9)	(3.5)
Changes in assets and liabilities:
Trade and other receivables	121.2	(3.3)
Income taxes payable	41.3	(24.2)
Prepaid expenses and other current assets	(152.4)	(69.5)
Other non-current assets	37.2	68.8
Accounts payable and accrued expenses	(107)	(10.6)
Accrued compensation	(148.9)	(67.1)
Other current and non-current liabilities	(111.7)	(39.3)
Net cash used in operating activities	(100.6)	(40.1)
Cash flows from investing activities
Payment for property and equipment	(47.4)	(61.5)
Proceeds from sale of property and equipment	0.4	0.5
Acquisitions of businesses, net of cash acquired	(268.5)	(22.2)
Investments in equity securities	(3.9)	(7.2)
Return of beneficial interest in a securitization	0	(85)
Other investing activities, net	0	0.1
Net cash used in investing activities	(319.4)	(175.3)
Cash flows from financing activities
Net proceeds from issuance of shares	0.1	9
Shares repurchased for payment of employee taxes on stock awards	(25.2)	(6.7)
Payment of contingent consideration	(16.4)	(22.3)
Proceeds from long-term borrowings	0	2,936.5
Repayment of borrowings	(20.3)	(3,126.1)
Debt issuance costs	0	(24.4)
Proceeds from initial public offering, net of underwriting	0	831.4
Proceeds from private placement	0	179.5
Payments of initial offering and private placement costs	0	(17)
Payment of finance lease liabilities	(9.2)	(8.8)
Other financing activities, net	0.1	(6.9)
Net cash (used in) provided by financing activities	(70.9)	744.2
Change in cash, cash equivalents and restricted cash	(490.9)	528.8
Cash, cash equivalents and restricted cash, beginning of the period	965.4	467.9
Effects of exchange rate fluctuations on cash, cash equivalents and restricted cash	(5)	0.5
Cash, cash equivalents and restricted cash, end of the period	$ 469.5	$ 997.2

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1: Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared under accounting principles generally accepted in the United States ("U.S. GAAP" or "GAAP") and in conformity with rules applicable to quarterly financial information. The Condensed Consolidated Financial Statements as of September 30, 2019 and for the three and nine months ended September 30, 2019 and 2018 are unaudited. All adjustments, consisting of normal recurring adjustments, except as otherwise noted, considered necessary for a fair presentation of the unaudited interim Condensed Consolidated Financial Statements for these interim periods have been included. Readers of this unaudited interim Condensed Consolidated quarterly financial information should refer to the audited Consolidated Financial Statements and notes thereto of Cushman & Wakefield plc and its subsidiaries (“Cushman & Wakefield,” the "Company,” “we,” “our” and “us”) for the year ended December 31, 2018 included in our 2018 Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") and also available on our website (www.cushmanwakefield.com). Certain footnote disclosures that would substantially duplicate those contained in such audited financial statements or which are not required by the rules and regulations of the SEC for interim financial reporting have been condensed or omitted. Refer to Note 2: Summary of Significant Accounting Policies of the Notes to Consolidated Financial Statements in the Company's 2018 Annual Report on form 10-K for further discussion of the Company's accounting policies and estimates. Due to seasonality, the results of operations for the three and nine months ended September 30, 2019 are not necessarily indicative of the results of operations to be expected for the year ending December 31, 2019 . The Company provides for the effects of income taxes on interim financial statements based on estimates of the effective tax rate for the full year, which is based on forecasted income by country and enacted tax rates. Change in Accounting Principle - Stock-based Compensation In the fourth quarter of 2018, the Company changed its policy for recognizing stock-based compensation expense for awards with service conditions only from the graded attribution method to the straight-line attribution method. The Company views these awards as single awards and believes that the straight-line method of accounting more accurately reflects the pattern of service provided by the employee. Additionally, based on research and analysis, the Company believes the straight-line attribution method for stock-based compensation expense for service condition-only awards is the predominant method used in its industry. For these reasons, the Company has concluded that the straight-line attribution method for stock-based compensation is a preferable accounting policy in accordance with ASC 250, Accounting Changes and Error Corrections . We have applied this change retrospectively adjusting all periods presented. For the three and nine months ended September 30, 2018 , the effect of this adjustment was a decrease to net loss of $7.3 million and $5.1 million , respectively, and a decrease to basic and diluted loss per share of $0.04 and $0.03 , respectively.

New Accounting Standards

New Accounting Standards	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
New Accounting Standards	Note 2: New Accounting Standards The Company has adopted the following new accounting standards: Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (together with all subsequent amendments, Topic 842 ), which replaced most existing lease guidance under U.S. GAAP when it became effective on January 1, 2019. The new guidance requires a lessee to record a Non-current operating lease asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. Companies will recognize expenses for real estate related leases on the statements of operations in a manner similar to current accounting guidance and, for lessors, the guidance remains substantially similar to current U.S. GAAP. In July 2018, the FASB issued two additional amendments that affect the guidance issued in ASU 2016-02 as described in the following updates ASU 2018-10, Codification Improvements to Topic 842, Leases and ASU 2018-11, Leases (Topic 842): Targeted Improvements . The amendments in ASU 2018-10 affect narrow aspects of the guidance issued in ASU 2016-02. The amendments in ASU 2018-11 provide an alternative (and optional) transition method that allows entities to apply the transition provisions in ASU 2016-02 at the adoption date instead of at the earliest comparative period presented in the financial statements. The Company elected to use the optional transition method upon adoption effective January 1, 2019 and did not revise comparative financial statements or disclosures. Refer to Note 10: Leases of the Notes to unaudited Condensed Consolidated Financial Statements. Stock Compensation In June 2018, the FASB issued ASU No. 2018-07, Compensation - Stock Compensation: Improvements to Nonemployee Share-Based Payment Accounting (Topic 718) . The ASU supersedes ASC 505-50, Equity-Based Payments to Non-Employees and expands the scope of Topic 718 to include stock-based payments granted to non-employees. Under the new guidance, the measurement date and performance and vesting conditions for stock-based payments to non-employees are aligned with those of employees, most notably aligning the award measurement date with the grant date of an award. The new guidance is required to be adopted using the modified retrospective transition approach. The Company adopted the new guidance effective January 1, 2019, with an immaterial impact on its financial statements and related disclosures. Income Taxes In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The new guidance allows a reclassification from accumulated other comprehensive income to retained earnings for any stranded tax effects resulting from the H.R. 1, Tax Cuts and Jobs Act that was enacted on December 22, 2017. The new guidance is effective for public companies for annual reporting periods and interim periods within those annual periods beginning after December 15, 2018. The effect of this ASU on the financial statements was immaterial. Derivatives and Hedging In August 2017, the FASB issued ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities (Topic 815) . The new guidance eliminates the requirement to separately measure and report hedge ineffectiveness and is intended to reduce the complexity of applying hedge accounting by simplifying the designation and measurement of hedging instruments. The ASU is required to be applied retrospectively to eliminate the separate measurement of ineffectiveness through a cumulative-effect adjustment to Accumulated other comprehensive income with a corresponding adjustment to the opening balance of retained earnings. The new guidance is required to be adopted using the retrospective approach. The Company adopted the new guidance effective January 1, 2019 with an immaterial impact on its financial statements and related disclosures. The following recently issued accounting standards are not yet required to be reflected in the unaudited Condensed Consolidated Financial Statements of the Company: Financial Instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The ASU provides financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The amendments in this ASU replace the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. The amendments in this ASU represent changes to clarify, correct errors in, or make minor improvements to the Codification, eliminating inconsistencies and providing clarification in current guidance. In June 2019, the FASB issued ASU 2019-05, Financial Instruments-Credit Losses (Topic 326): Targeted Transition Relief. The ASU provides optional targeted transition relief that allows reporting entities to irrevocably elect the fair value option on financial instruments that 1) were previously recorded at amortized cost and 2) are within the scope of Topic 326 if the instruments are eligible for the fair value option under Topic 825. The new guidance is effective for public companies for annual reporting periods and interim periods within those annual periods beginning after December 15, 2019. The Company is currently evaluating the effect, if any, that the ASUs will have on its financial statements and related disclosures.

Segment Data

Segment Data	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment Data	Note 3: Segment Data The Company reports its operations through the following segments: (1) Americas, (2) Europe, the Middle East and Africa (“EMEA”) and (3) Asia Pacific (“APAC”). The Americas consists of operations located in the United States, Canada and key markets in Latin America. EMEA includes operations in the UK, France, Netherlands and other markets in Europe and the Middle East. APAC includes operations in Australia, Singapore, China and other markets in the Asia Pacific region. For segment reporting, gross contract costs are excluded from revenue in determining “Fee revenue”. Additionally, pursuant to business combination accounting rules, certain Fee revenue that was deferred by the acquiree may be recorded as a receivable on the acquisition date by the Company. Such contingent Fee revenue is recorded for segment reporting as an acquisition accounting adjustment to reflect the revenue recognition of the Company absent the application of acquisition accounting. Corporate expenses are allocated to the segments based upon Fee revenue of each segment. Gross contract costs are excluded from operating expenses in determining “Fee-based operating expenses”. Adjusted EBITDA is the profitability metric reported to the chief operating decision maker (“CODM”) for purposes of making decisions about allocation of resources to each segment and assessing performance of each segment. Adjusted EBITDA excludes depreciation and amortization, interest expense, net of interest income, income taxes, as well as integration and other costs related to merger, expenses related to the Cassidy Turley deferred payment obligation (the "DPO"), stock-based compensation for plans enacted before the Company's initial public offering ("pre-IPO stock-based compensation"), acquisition related costs and other efficiency initiatives and other charges. Summarized financial information by segment is as follows (in millions): Americas Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Total revenue $ 1,512.8 $ 1,475.6 $ 4,353.3 $ 4,053.9 Less: Gross contract costs (430.4 ) (424.9 ) (1,252.7 ) (1,164.2 ) Acquisition accounting adjustments — — — 2.5 Total Fee revenue $ 1,082.4 $ 1,050.7 $ 3,100.6 $ 2,892.2 Service lines: Property, facilities and project management $ 480.8 $ 427.4 $ 1,428.4 $ 1,257.8 Leasing 372.3 410.7 1,056.1 1,031.0 Capital markets 181.6 177.3 492.0 491.3 Valuation and other 47.7 35.3 124.1 112.1 Total Fee revenue $ 1,082.4 $ 1,050.7 $ 3,100.6 $ 2,892.2 Segment operating expenses $ 1,387.5 $ 1,346.6 $ 4,035.2 $ 3,742.1 Less: Gross contract costs (430.4 ) (424.9 ) (1,252.7 ) (1,164.2 ) Total Fee-based operating expenses $ 957.1 $ 921.7 $ 2,782.5 $ 2,577.9 Adjusted EBITDA $ 125.2 $ 128.8 $ 318.0 $ 314.2 EMEA Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Total revenue $ 235.5 $ 226.9 $ 667.0 $ 650.9 Less: Gross contract costs (26.4 ) (15.4 ) (68.1 ) (76.4 ) Total Fee revenue $ 209.1 $ 211.5 $ 598.9 $ 574.5 Service lines: Property, facilities and project management $ 71.4 $ 60.0 $ 214.7 $ 178.1 Leasing 55.6 67.2 161.3 173.9 Capital markets 41.6 40.0 101.1 98.5 Valuation and other 40.5 44.3 121.8 124.0 Total Fee revenue $ 209.1 $ 211.5 $ 598.9 $ 574.5 Segment operating expenses $ 216.4 $ 198.3 $ 635.3 $ 613.5 Less: Gross contract costs (26.4 ) (15.4 ) (68.1 ) (76.4 ) Total Fee-based operating expenses $ 190.0 $ 182.9 $ 567.2 $ 537.1 Adjusted EBITDA $ 20.3 $ 29.0 $ 35.5 $ 40.5 APAC Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Total revenue $ 370.5 $ 373.5 $ 1,123.2 $ 1,113.2 Less: Gross contract costs (112.6 ) (127.2 ) (325.2 ) (381.0 ) Total Fee revenue $ 257.9 $ 246.3 $ 798.0 $ 732.2 Service lines: Property, facilities and project management $ 170.9 $ 165.0 $ 526.6 $ 488.6 Leasing 42.6 41.4 115.1 110.4 Capital markets 14.8 16.5 71.8 59.1 Valuation and other 29.6 23.4 84.5 74.1 Total Fee revenue $ 257.9 $ 246.3 $ 798.0 $ 732.2 Segment operating expenses $ 347.5 $ 352.2 $ 1,046.8 $ 1,045.2 Less: Gross contract costs (112.6 ) (127.2 ) (325.2 ) (381.0 ) Total Fee-based operating expenses $ 234.9 $ 225.0 $ 721.6 $ 664.2 Adjusted EBITDA $ 23.0 $ 21.2 $ 77.9 $ 68.9 Adjusted EBITDA is calculated as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net income (loss) $ 11.7 $ (41.4 ) $ (2.9 ) $ (167.8 ) Add/(less): Depreciation and amortization 75.0 71.6 222.8 213.0 Interest expense, net of interest income 37.4 92.7 112.8 189.1 Benefit from income taxes (11.0 ) (30.6 ) (40.5 ) (48.0 ) Integration and other costs related to merger 29.9 64.7 74.1 173.9 Pre-IPO stock-based compensation 11.4 8.0 33.6 25.0 Cassidy Turley deferred payment obligation — 11.0 — 30.8 Acquisition related costs and other efficiency initiatives 8.0 — 17.7 — Other 6.1 3.0 13.8 7.6 Adjusted EBITDA $ 168.5 $ 179.0 $ 431.4 $ 423.6 Below is the reconciliation of total costs and expenses to Fee-based operating expenses (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Total costs and expenses $ 2,081.8 $ 2,055.4 $ 6,079.3 $ 5,848.6 Less: Gross contract costs (569.4 ) (567.5 ) (1,646.0 ) (1,621.6 ) Fee-based operating expenses $ 1,512.4 $ 1,487.9 $ 4,433.3 $ 4,227.0 Below is the reconciliation of total costs of Fee-based operating expenses by segment to Consolidated Fee-based operating expenses (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Americas Fee-based operating expenses $ 957.1 $ 921.7 $ 2,782.5 $ 2,577.9 EMEA Fee-based operating expenses 190.0 182.9 567.2 537.1 APAC Fee-based operating expenses 234.9 225.0 721.6 664.2 Segment Fee-based operating expenses 1,382.0 1,329.6 4,071.3 3,779.2 Depreciation and amortization 75.0 71.6 222.8 213.0 Integration and other costs related to merger (1) 29.9 64.7 74.1 171.4 Pre-IPO stock-based compensation 11.4 8.0 33.6 25.0 Cassidy Turley deferred payment obligation — 11.0 — 30.8 Acquisition related costs and other efficiency initiatives 8.0 — 17.7 — Other 6.1 3.0 13.8 7.6 Fee-based operating expenses $ 1,512.4 $ 1,487.9 $ 4,433.3 $ 4,227.0 (1) Represents integration and other costs related to merger, comprised of certain direct and incremental costs resulting from merger and related integration efforts, as well as costs related to our restructuring programs, excluding the impact of acquisition accounting revenue adjustments as these amounts do not impact operating expenses.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Note 4: Earnings Per Share Earnings (Loss) per Share ("EPS") is calculated by dividing the Net earnings or loss attributable to shareholders by the Weighted average shares outstanding. As the Company was in a loss position for the nine months ended September 30, 2019 and three and nine months ended September 30, 2018 , the Company has determined all potentially dilutive shares would be anti-dilutive in these periods and therefore are excluded from the calculation of diluted weighted average shares outstanding. As a result, the calculation of weighted average shares outstanding is the same for basic and diluted EPS. Potentially dilutive securities of approximately 7.2 million for the nine months ended September 30, 2019 and 13.0 million and 11.8 million for the three and nine months ended September 30, 2018 were excluded from the computation of diluted EPS because their effect would have been anti-dilutive in these periods. The following is a calculation of EPS (in millions, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Basic EPS Net income (loss) attributable to shareholders $ 11.7 $ (41.4 ) $ (2.9 ) $ (167.8 ) Weighted average shares outstanding for basic earnings (loss) per share 218.0 184.0 217.2 158.5 Basic earnings (loss) per common share attributable to shareholders $ 0.05 $ (0.23 ) $ (0.01 ) $ (1.06 ) Diluted EPS Net income (loss) attributable to shareholders $ 11.7 $ (41.4 ) $ (2.9 ) $ (167.8 ) Weighted average shares outstanding for basic earnings (loss) per share: 218.0 184.0 217.2 158.5 Dilutive effect of restricted stock units 5.0 — — — Dilutive effective of stock options 1.5 — — — Weighted average shares outstanding for diluted earnings (loss) per share 224.5 184.0 217.2 158.5 Diluted earnings (loss) per common share attributable to shareholders $ 0.05 $ (0.23 ) $ (0.01 ) $ (1.06 )

Revenue

Revenue	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue	Note 5: Revenue On January 1, 2018, the Company adopted and applied Topic 606 and all the related amendments to all contracts using the modified retrospective method. The Company recognized the cumulative effect on the unaudited Condensed Consolidated Balance Sheet of applying the new revenue standard as an adjustment to the opening balance of Accumulated deficit of $35.9 million as of January 1, 2018. Revenue is recognized upon transfer of control of promised services to clients in an amount that reflects the consideration the Company expects to receive in exchange for those services. The Company enters into contracts and earns revenue from its Property, facilities and project management, Leasing, Capital markets and Valuation and other service lines. Revenue is recognized net of any taxes collected from customers. A performance obligation is a promise in a contract to transfer a distinct service to the client and is the unit of account. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The Company allocates the contract’s transaction price to each performance obligation using the best estimate of the standalone selling price of each distinct service in the contract. Contract Balances The Company receives payments from customers based upon contractual billing schedules; accounts receivable are recorded when the right to consideration becomes unconditional. Contract assets include amounts related to the contractual right to consideration for completed performance not yet invoiced or able to be invoiced. Contract liabilities are recorded when cash payments are received in advance of performance, including amounts which are refundable. The majority of contract liabilities are recognized as revenue within 90 days. The Company had no material asset impairment charges related to contract assets in the periods presented. As of September 30, 2019 and December 31, 2018 , we had contract assets of $307.3 million and $160.6 million and $13.3 million and $25.8 million , which were recorded in Prepaid expenses and other current assets and Other non-current assets, respectively, in the unaudited Condensed Consolidated Balance Sheets. As of September 30, 2019 and December 31, 2018 , we had contract liabilities of $50.3 million and $66.8 million of which were recorded in Accounts payable and accrued expenses in the unaudited Condensed Consolidated Balance Sheets. Disaggregation of Revenue The following tables disaggregate revenue by reportable segment and service line (in millions): Three Months Ended September 30, 2019 Revenue recognition timing Americas EMEA APAC Total Property, facilities and project management Over time $ 906.1 $ 96.6 $ 283.4 $ 1,286.1 Leasing At a point in time 375.6 56.0 42.6 474.2 Capital markets At a point in time 182.8 41.7 14.8 239.3 Valuation and other At a point in time or over time 48.3 41.2 29.7 119.2 Total revenue $ 1,512.8 $ 235.5 $ 370.5 $ 2,118.8 Three Months Ended September 30, 2018 Revenue recognition timing Americas EMEA APAC Total Property, facilities and project management Over time $ 849.3 $ 75.0 $ 292.2 $ 1,216.5 Leasing At a point in time 413.1 67.5 41.4 522.0 Capital markets At a point in time 177.8 40.0 16.5 234.3 Valuation and other At a point in time or over time 35.4 44.4 23.4 103.2 Total revenue $ 1,475.6 $ 226.9 $ 373.5 $ 2,076.0 Nine Months Ended September 30, 2019 Revenue recognition timing Americas EMEA APAC Total Property, facilities and project management Over time $ 2,667.9 $ 280.3 $ 851.6 $ 3,799.8 Leasing At a point in time 1,064.7 161.9 115.1 1,341.7 Capital markets At a point in time 494.8 101.3 71.8 667.9 Valuation and other At a point in time or over time 125.9 123.5 84.7 334.1 Total revenue $ 4,353.3 $ 667.0 $ 1,123.2 $ 6,143.5 Nine Months Ended September 30, 2018 Revenue recognition timing Americas EMEA APAC Total Property, facilities and project management Over time $ 2,412.0 $ 252.6 $ 869.6 $ 3,534.2 Leasing At a point in time 1,034.6 174.5 110.4 1,319.5 Capital markets At a point in time 492.8 98.5 59.1 650.4 Valuation and other At a point in time or over time 114.5 125.3 74.1 313.9 Total revenue $ 4,053.9 $ 650.9 $ 1,113.2 $ 5,818.0 Exemptions Remaining performance obligations represent the aggregate transaction prices for contracts where the performance obligations have not yet been satisfied. In accordance with Topic 606, the Company does not disclose unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) variable consideration for services performed as a series of daily performance obligations, such as those performed within the Property, facilities and project management services lines. Performance obligations within these businesses represent a significant portion of the Company's contracts with customers not expected to be completed within 12 months.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 6: Goodwill and Other Intangible Assets The following table summarizes the changes in the carrying amount of goodwill for the nine months ended September 30, 2019 (in millions): Americas EMEA APAC Total Balance as of December 31, 2018 $ 1,254.4 $ 266.1 $ 258.0 $ 1,778.5 Acquisitions 160.3 — 12.7 173.0 Measurement period adjustments (0.7 ) — 0.3 (0.4 ) Effect of movements in exchange rates and other 2.0 (10.8 ) (11.6 ) (20.4 ) Balance as of September 30, 2019 $ 1,416.0 $ 255.3 $ 259.4 $ 1,930.7 Portions of goodwill are denominated in currencies other than the U.S. dollar, therefore a portion of the movements in the reported book value of these balances is attributable to movements in foreign currency exchange rates. There were no impairment charges of goodwill and other intangible assets for the three and nine months ended September 30, 2019 and 2018 , respectively. The following tables summarize the carrying amounts and accumulated amortization of intangible assets (in millions): As of September 30, 2019 Useful Life (in years) Gross Value Accumulated Amortization Net Value C&W trade name Indefinite $ 546.0 $ — $ 546.0 Customer relationships 1 – 15 1,307.8 (769.3 ) 538.5 Other intangible assets 2 – 13 14.5 (5.4 ) 9.1 Total intangible assets $ 1,868.3 $ (774.7 ) $ 1,093.6 As of December 31, 2018 Useful Life (in years) Gross Value Accumulated Amortization Net Value C&W trade name Indefinite $ 546.0 $ — $ 546.0 Customer relationships 1 – 15 1,199.7 (637.1 ) 562.6 Other intangible assets 2 – 13 32.8 (13.2 ) 19.6 Total intangible assets $ 1,778.5 $ (650.3 ) $ 1,128.2 Amortization expense was $47.3 million and $46.2 million for the three months ended September 30, 2019 and 2018 , respectively, and $142.6 million and $139.3 million for the nine months ended September 30, 2019 and 2018 , respectively.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging Activities	Note 7: Derivative Financial Instruments and Hedging Activities The Company is exposed to certain risks arising from both business operations and economic conditions, including interest rate risk and foreign exchange risk. To mitigate the impact of interest rate and foreign exchange risk, the Company enters into derivative financial instruments. The Company maintains the majority of its overall interest rate exposure on floating rate borrowings to a fixed-rate basis, primarily with interest rate swap agreements. The Company manages exposure to foreign exchange fluctuations primarily through short-term forward contracts. There have been no significant changes to the interest rate and foreign exchange risk management objectives from those disclosed in the Company’s audited Consolidated Financial Statements for the year ended December 31, 2018 . Effective January 1, 2019, the Company adopted ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities (Topic 815). The new guidance eliminates the requirement to separately measure and report hedge ineffectiveness and has had an immaterial impact on the Company's financial statements and related disclosures. See Note 2: New Accounting Standards for additional information on the adoption. Interest Rate Derivative Instruments In January 2019, the Company entered into an interest rate swap agreement that became effective in the month of trade, expiring August 2025. The Company immediately designated this instrument as a cash flow hedge. As of September 30, 2019 , the Company's active interest rate hedging instruments consist of five interest rate swap agreements designated as cash flow hedges. The Company's hedge instrument balances as of September 30, 2019 relate solely to these interest rate swaps. The hedge instruments expire in August 2025 and are further described below. The Company records changes in the fair value of derivatives designated and qualifying as cash flow hedges in Accumulated other comprehensive loss in the unaudited Condensed Consolidated Balance Sheets and subsequently reclassifies the change into earnings in the period that the hedged forecasted transaction affects earnings. As of September 30, 2019 and December 31, 2018 , there is $91.7 million in pre-tax losses and $16.5 million in pre-tax gains, respectively, included in Accumulated other comprehensive loss related to these agreements, which will be reclassified to Interest expense as interest payments are made in accordance with the Company's 2018 Credit Agreement; refer to Note 8: Long-term Debt and Other Borrowings for discussion of this agreement. During the next twelve months, the Company estimates that pre-tax losses of $7.1 million will be reclassified to Interest expense on the unaudited Condensed Consolidated Statements of Operations. Non-designated Foreign Exchange Derivative Instruments Additionally, the Company enters into short-term forward contracts to mitigate the risk of fluctuations in foreign currency exchange rates that would adversely impact some of the Company’s foreign currency denominated transactions. Hedge accounting was not elected for any of these contracts. As such, changes in the fair values of these contracts are recorded directly in earnings. There are gains of $1.6 million and $0.0 million for the three months ended September 30, 2019 and 2018 , respectively. There are gains of $1.5 million and $1.1 million for the nine months ended September 30, 2019 and 2018 , respectively. This activity was included in the unaudited Condensed Consolidated Statements of Operations. As of September 30, 2019 and December 31, 2018 , the Company had 22 and 23 foreign currency exchange forward contracts outstanding, respectively, covering a notional amount of $407.8 million and $406.6 million , respectively. As of September 30, 2019 and December 31, 2018 , the fair value of forward contracts disclosed above were included in Other current assets and Other current liabilities in the unaudited Condensed Consolidated Balance Sheets. The Company does not net these derivatives in the unaudited Condensed Consolidated Balance Sheets. As of September 30, 2019 and December 31, 2018 , the Company has not posted and does not hold any collateral related to these agreements. The following table presents the fair value of derivatives as of September 30, 2019 and December 31, 2018 (in millions): September 30, 2019 December 31, 2018 Assets Liabilities Assets Liabilities Derivative Instrument Notional Fair Value Fair Value Fair Value Fair Value Designated: Cash flow hedges: Interest rate swaps $ 2,050.0 $ — $ 119.6 $ — $ 25.1 Non-designated: Foreign currency forward contracts 407.8 1.8 0.7 0.5 0.8 The fair value of derivative assets is included within Other non-current assets and the fair value of derivative liabilities is included within Other non-current liabilities in the unaudited Condensed Consolidated Balance Sheets. The Company does not net derivatives in the unaudited Condensed Consolidated Balance Sheets. The following table presents the effect of derivatives designated as hedges, net of applicable income taxes, in the unaudited Condensed Consolidated Statements of Operations for the three months ended September 30, 2019 and 2018 (in millions): Beginning Amount of Loss (1) Amount of Gain (Loss) (2) Ending Three Months Ended September 30, 2019 Foreign currency cash flow hedges $ — $ — $ — $ — Foreign currency net investment hedges (0.6 ) — — (0.6 ) Interest rate cash flow hedges 70.0 26.6 1.1 97.7 $ 69.4 $ 26.6 1 $ 1.1 2 $ 97.1 Three Months Ended September 30, 2018 Foreign currency cash flow hedges $ 1.5 $ (2.5 ) $ 1.0 $ — Foreign currency net investment hedges (0.4 ) 0.1 — (0.3 ) Interest rate cash flow hedges (42.3 ) (5.2 ) 2.0 (45.5 ) $ (41.2 ) $ (7.6 ) 1 $ 3.0 2 $ (45.8 ) (1) Amount is net of related income tax expense of $0.0 million and $1.4 million for the three months ended September 30, 2019 and 2018 , respectively. (2) Amount is net of related income tax expense of $(0.8) million and $(0.4) million for the three months ended September 30, 2019 and 2018 , respectively. Gains of $1.9 million and $2.5 million were reclassified into earnings during the three months ended September 30, 2019 and 2018 , respectively, related to interest rate hedges and were recognized in Interest expense in the unaudited Condensed Consolidated Statements of Operations. Losses of $0.1 million and gains of $1.0 million relating to foreign currency cash flow hedges were reclassified and were recognized in Interest expense and Operating, administrative and other in the unaudited Condensed Consolidated Statements of Operations during the three months ended September 30, 2018 . The following table presents the effect of derivatives designated as hedges, net of applicable income taxes, in the unaudited Condensed Consolidated Statements of Operations for the nine months ended September 30, 2019 and 2018 (in millions): Beginning Accumulated Other Comprehensive (Gain) Loss Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives (1) Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Statement of Operations (2) Ending Accumulated Other Comprehensive Loss (Gain) Nine Months Ended September 30, 2019 Foreign currency cash flow hedges $ — $ — $ — $ — Foreign currency net investment hedges (0.6 ) — — (0.6 ) Interest rate cash flow hedges (13.3 ) 105.9 5.1 97.7 $ (13.9 ) $ 105.9 $ 5.1 $ 97.1 Nine Months Ended September 30, 2018 Foreign currency cash flow hedges $ 2.2 $ (7.3 ) $ 5.1 $ — Foreign currency net investment hedges 0.7 (1.0 ) — (0.3 ) Interest rate cash flow hedges (22.5 ) (30.3 ) 7.3 (45.5 ) $ (19.6 ) $ (38.6 ) $ 12.4 $ (45.8 ) (1) Amount is net of related income tax expense of $5.1 million and $7.1 million for the nine months ended September 30, 2019 and 2018 , respectively. (2) Amount is net of related income tax expense of $(2.3) million and $(1.8) million for the nine months ended September 30, 2019 and 2018 , respectively. Gains of $7.4 million and $8.9 million were reclassified into earnings during the nine months ended September 30, 2019 and 2018 , respectively, related to interest rate hedges and were recognized in Interest expense in the unaudited Condensed Consolidated Statements of Operations. Gains of $5.3 million were reclassified during the nine months ended September 30, 2018 relating to foreign currency cash flow hedges and were recognized in Operating, administrative and other, respectively, in the unaudited Condensed Consolidated Statements of Operations.

Long-term Debt and Other Borrow

Long-term Debt and Other Borrowings	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Long-term Debt and Other Borrowings	Note 8: Long-term Debt and Other Borrowings Long-term debt consisted of the following (in millions): As of September 30, 2019 December 31, 2018 Collateralized: 2018 First Lien Loan, net of unamortized discount and issuance costs of $29.3 million and $31.9 million, respectively $ 2,643.7 $ 2,661.3 Capital lease liability 18.2 19.5 Notes payable to former stockholders 0.3 0.4 Total long-term debt 2,662.2 2,681.2 Less current portion (36.9 ) (37.0 ) Total non-current long-term debt $ 2,625.3 $ 2,644.2 2018 Credit Agreement On August 21, 2018, the Company entered into a $3.5 billion credit agreement (the "2018 Credit Agreement"), comprised of a $2.7 billion term loan (the "2018 First Lien Loan") and an $810.0 million revolving facility (the "Revolver"). Net proceeds from the 2018 First Lien Loan were $2.7 billion ( $2.7 billion aggregate principal amount less $13.5 million stated discount and $20.6 million in debt transaction costs). The 2018 Credit Agreement bears interest at a variable interest rate that the Company may select per the terms of the 2018 Credit Agreement. As of September 30, 2019 , the rate is equal to 1-month LIBOR plus 3.25% . The 2018 First Lien Loan matures on August 21, 2025 . As of September 30, 2019 , the effective interest rate of the 2018 First Lien Loan is 5.5% . The 2018 Credit Agreement requires quarterly principal payments equal to 0.25% of the aggregate principal amount of the 2018 First Lien Loan, including incremental borrowings. Revolver As of September 30, 2019 , the Company had no outstanding funds drawn under the Revolver, which matures on August 21, 2023. Financial Covenants and Terms The 2018 Credit Agreement has a springing financial covenant, tested on the last day of each fiscal quarter if the outstanding loans under the Revolver exceed an applicable threshold. If the financial covenant is triggered, the First Lien Net Leverage Ratio is tested for compliance not to exceed 5.80 to 1.00. The Company was in compliance with all of the covenants under the 2018 Credit Agreement as of September 30, 2019 and December 31, 2018 .

Stock-based Payments

Stock-based Payments	9 Months Ended
	Sep. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Payments	Note 9: Stock-based Payments Options The tables below summarize the Company’s outstanding time-based stock options (in millions, except for per share amounts): Time-Based Options Number of Options Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (in years) Outstanding as of December 31, 2018 3.3 $ 11.23 6.8 Exercised (0.5 ) 10.04 Forfeited (0.1 ) 11.19 Outstanding as of September 30, 2019 2.7 $ 11.47 6.1 Exercisable as of September 30, 2019 1.8 $ 10.63 5.9 Total recognized compensation cost related to these stock option awards was $1.4 million and $1.5 million for the three months ended September 30, 2019 and 2018 , respectively, and $3.9 million and $4.5 million for the nine months ended September 30, 2019 and 2018 , respectively. At September 30, 2019 , the total unrecognized compensation cost related to non-vested time-based option awards was $1.9 million . The tables below summarize the Company’s outstanding performance-based stock options (in millions, except for per share amounts): Performance-Based Options Number of Options Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (in years) Outstanding as of December 31, 2018 1.5 $ 11.48 6.9 Forfeited (0.1 ) 10.87 Outstanding as of September 30, 2019 1.4 $ 11.64 6.2 Exercisable as of September 30, 2019 — — — Total recognized compensation cost related to these stock option awards was $2.7 million and $0.0 million for the three months ended September 30, 2019 and 2018 , respectively, and $8.2 million and $0.0 million for the nine months ended September 30, 2019 and 2018 , respectively. At September 30, 2019 , the total unrecognized compensation cost related to non-vested performance-based option awards was $2.8 million , which will be recognized over the remainder of the year. Restricted Stock Units The following table provides information about the Company’s outstanding restricted stock units ("RSUs") (in millions, except for per share amounts): Co-Investment RSUs Time-Based RSUs Performance-Based RSUs Number of RSUs Weighted Average Fair Value Per Share Number of RSUs Weighted Average Fair Value Per Share Number of RSUs Weighted Average Fair Value Per Share Unvested as of December 31, 2018 0.6 $ 11.50 7.8 $ 14.63 0.7 $ 15.94 Granted — — 1.9 17.78 0.4 19.64 Vested (0.6 ) 11.34 (3.1 ) 14.11 — — Forfeited (0.0 ) 17.00 (0.1 ) 16.47 — — Unvested as of September 30, 2019 0.0 $ 14.41 6.5 $ 15.80 1.1 $ 17.08 The following table summarizes the Company's compensation expense related to RSUs (in millions): Three Months Ended September 30, Nine Months Ended September 30, Unrecognized at September 30, 2019 2019 2018 2019 2018 Time-Based RSUs $ 11.4 $ 7.6 $ 32.5 $ 21.4 $ 64.3 Co-Investment RSUs 0.1 0.1 0.3 0.5 0.2 Performance-Based RSUs 0.6 — 1.3 — 5.5 Equity classified compensation cost 12.1 7.7 34.1 21.9 70.0 Liability classified compensation cost (1) — 0.8 — 4.9 — Total RSU stock-based compensation cost $ 12.1 $ 8.5 $ 34.1 $ 26.8 $ 70.0 (1) In the third quarter of 2018, all liability classified awards were reclassified to equity, due to certain contingencies being lifted.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Note 10: Leases As stated in Note 2: New Accounting Standards , the Company adopted Topic 842 effective January 1, 2019 using the optional transition method and did not revise prior comparative periods. Consequently, the Company’s reporting for the comparative periods will continue to be in accordance with previously existing GAAP (Topic 840, Leases). Adoption of Topic 842 did not have an impact on the opening balance of Accumulated deficit as of January 1, 2019. For the Three Months and Nine Months Ended September 30, 2019 Reported in Accordance with Topic 842 The Company determines if a contract is or contains a lease at inception by assessing whether a contract conveys the right of the Company to control the use of an identified asset for a period in exchange for consideration. Operating leases are included in Non-current operating lease assets, Other current liabilities, and Non-current operating lease liabilities in the unaudited Condensed Consolidated Balance Sheets. Finance leases are included in Property and equipment, net, Other current liabilities, and Other non-current liabilities in the unaudited Condensed Consolidated Balance Sheets. Non-current operating lease assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease, measured on a discounted basis. Non-current operating lease assets and operating lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Generally, the Company’s leases do not provide an implicit rate and, therefore, we use our incremental borrowing rate based on information available at commencement date in determining the present value of lease payments. The Company uses the implicit rate when it is readily determinable. The Non-current operating lease assets also include any lease payments made prior to the commencement date and is recorded net of any lease incentives. The Company’s lease terms include options to extend or terminate the lease only when it is reasonably certain that the option will be exercised. Lease cost for operating lease payments are recognized as a single lease cost on a straight-line basis over the lease term, while lease cost for finance leases is composed of amortization of the asset, which is recognized on a straight-line basis in Depreciation and amortization in the unaudited Condensed Consolidated Statements of Operations, and interest expense, which is recorded based on the effective interest rate method and recognized over the lease term as Interest expense, net of interest income in the unaudited Condensed Consolidated Statements of Operations. The Company has lease agreements with lease and non-lease components, but as the Company has elected the practical expedient to not separate lease and non-lease components for all asset classes, they are not accounted for separately. Instead, consideration for the lease is allocated to a single lease component. Further, the Company has elected the practical expedient for the short-term lease exemption for all asset classes and therefore does not recognize operating lease assets or operating lease liabilities for leases with a term of 12 months or less. The impact of off-balance sheet accounting for short-term leases is immaterial. The Company enters into leases through its subsidiary entities that do not have incremental borrowing rates, as such, the Company's incremental borrowing rate is used. For certain equipment leases, the Company applies a portfolio approach to account for the operating lease assets and liabilities. The Company has entered into operating leases for real estate and equipment such as, motor vehicles and IT equipment. Additionally, the Company has entered into finance leases for the use of furniture, motor vehicles and IT equipment. Generally, both operating and finance leases have limited restrictions or covenants on the Company for incurring additional financial obligations. Rental payments are generally fixed, with no special terms or conditions, however, certain operating leases are subject to annual changes in the consumer price index (“CPI”). Additionally, the Company’s office leases may have options to extend or terminate the lease, the terms of which vary by lease. Generally, these options are not reasonably certain of being exercised; accordingly, the option periods are not considered in the calculation of the Non-current operating lease asset or the operating lease liability. The Company generally only enters into subleases for its real estate leases, with the terms of the subleases consistent with those of the underlying lease. The components of lease cost were as follows (in millions): Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost $ 38.5 $ 115.9 Finance lease cost: Amortization of assets $ 3.3 $ 8.0 Interest on lease liabilities 0.3 0.5 Total finance lease cost $ 3.6 $ 8.5 Variable lease cost $ 9.0 $ 22.6 Sublease income $ 3.0 $ 9.2 Supplemental balance sheet information related to leases was as follows (in millions): As of September 30, 2019 Operating Leases Non-current operating lease assets $ 502.8 Other current liabilities $ 116.1 Non-current operating lease liabilities 468.5 Total operating lease liabilities $ 584.6 Finance Leases Property and equipment, gross $ 51.7 Accumulated depreciation (31.8 ) Property and equipment, net $ 19.9 Other current liabilities $ 9.9 Other non-current liabilities 8.3 Total finance lease liabilities $ 18.2 Weighted Average Remaining Lease Term Operating leases 6.0 years Finance leases 3.0 years Weighted Average Discount Rate Operating leases 5.9 % Finance leases 4.9 % Supplemental cash flow information related to leases was as follows (in millions): Nine Months Ended September 30, 2019 Cash paid for amounts used in the measurement of lease liabilities: Operating cash flows used in operating leases $ 118.6 Operating cash flows used in finance leases 0.5 Assets obtained in exchange for lease obligations: Operating leases 46.5 Finance leases 8.0 Maturities of lease liabilities are as follows (in millions): Operating Leases Finance Leases 2019 $ 38.3 $ 9.7 2020 142.5 6.5 2021 116.6 2.4 2022 101.2 0.4 2023 85.3 — Thereafter 215.8 — Total lease payments 699.7 19.0 Less imputed interest 115.1 0.8 Total $ 584.6 $ 18.2 As of September 30, 2019 , we have operating leases that have not yet commenced of $20.0 million . These operating leases will commence during 2020 with lease terms of 3 years to 12 years . For the Three and Nine Months Ended September 30, 2018 Reported in Accordance with Topic 840 The Company has entered into operating leases for real estate and equipment such as, motor vehicles and IT equipment. Additionally, the Company has entered into capital leases for the use of furniture, motor vehicles and IT equipment. Generally, both operating and capital leases have limited restrictions or covenants on the Company for incurring additional financial obligations. Total net rent expense was $31.0 million and $99.8 million , net of sublease income of $4.6 million and $18.6 million , for the three and nine months ended September 30, 2018, respectively. Additionally, the Company has entered into capital leases as a means of funding the acquisition of furniture and equipment and acquiring access to real estate and vehicles. Rental payments are generally fixed, with no special terms or conditions. As of December 31, 2018 Reported in Accordance with Topic 840 As of December 31, 2018, the obligations for operating and capital leases are as summarized below (in millions): Operating Leases Capital Leases 2019 $ 152.9 $ 9.3 2020 139.3 6.4 2021 112.8 2.3 2022 96.3 0.4 2023 80.4 — Thereafter 210.2 — Total lease payments $ 791.9 $ 18.4 Future minimum lease payments are net of total sub-lease rental income of $58.9 million . Capital lease obligations are shown net of $1.1 million of interest charges.
Leases	Note 10: Leases As stated in Note 2: New Accounting Standards , the Company adopted Topic 842 effective January 1, 2019 using the optional transition method and did not revise prior comparative periods. Consequently, the Company’s reporting for the comparative periods will continue to be in accordance with previously existing GAAP (Topic 840, Leases). Adoption of Topic 842 did not have an impact on the opening balance of Accumulated deficit as of January 1, 2019. For the Three Months and Nine Months Ended September 30, 2019 Reported in Accordance with Topic 842 The Company determines if a contract is or contains a lease at inception by assessing whether a contract conveys the right of the Company to control the use of an identified asset for a period in exchange for consideration. Operating leases are included in Non-current operating lease assets, Other current liabilities, and Non-current operating lease liabilities in the unaudited Condensed Consolidated Balance Sheets. Finance leases are included in Property and equipment, net, Other current liabilities, and Other non-current liabilities in the unaudited Condensed Consolidated Balance Sheets. Non-current operating lease assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease, measured on a discounted basis. Non-current operating lease assets and operating lease liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Generally, the Company’s leases do not provide an implicit rate and, therefore, we use our incremental borrowing rate based on information available at commencement date in determining the present value of lease payments. The Company uses the implicit rate when it is readily determinable. The Non-current operating lease assets also include any lease payments made prior to the commencement date and is recorded net of any lease incentives. The Company’s lease terms include options to extend or terminate the lease only when it is reasonably certain that the option will be exercised. Lease cost for operating lease payments are recognized as a single lease cost on a straight-line basis over the lease term, while lease cost for finance leases is composed of amortization of the asset, which is recognized on a straight-line basis in Depreciation and amortization in the unaudited Condensed Consolidated Statements of Operations, and interest expense, which is recorded based on the effective interest rate method and recognized over the lease term as Interest expense, net of interest income in the unaudited Condensed Consolidated Statements of Operations. The Company has lease agreements with lease and non-lease components, but as the Company has elected the practical expedient to not separate lease and non-lease components for all asset classes, they are not accounted for separately. Instead, consideration for the lease is allocated to a single lease component. Further, the Company has elected the practical expedient for the short-term lease exemption for all asset classes and therefore does not recognize operating lease assets or operating lease liabilities for leases with a term of 12 months or less. The impact of off-balance sheet accounting for short-term leases is immaterial. The Company enters into leases through its subsidiary entities that do not have incremental borrowing rates, as such, the Company's incremental borrowing rate is used. For certain equipment leases, the Company applies a portfolio approach to account for the operating lease assets and liabilities. The Company has entered into operating leases for real estate and equipment such as, motor vehicles and IT equipment. Additionally, the Company has entered into finance leases for the use of furniture, motor vehicles and IT equipment. Generally, both operating and finance leases have limited restrictions or covenants on the Company for incurring additional financial obligations. Rental payments are generally fixed, with no special terms or conditions, however, certain operating leases are subject to annual changes in the consumer price index (“CPI”). Additionally, the Company’s office leases may have options to extend or terminate the lease, the terms of which vary by lease. Generally, these options are not reasonably certain of being exercised; accordingly, the option periods are not considered in the calculation of the Non-current operating lease asset or the operating lease liability. The Company generally only enters into subleases for its real estate leases, with the terms of the subleases consistent with those of the underlying lease. The components of lease cost were as follows (in millions): Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost $ 38.5 $ 115.9 Finance lease cost: Amortization of assets $ 3.3 $ 8.0 Interest on lease liabilities 0.3 0.5 Total finance lease cost $ 3.6 $ 8.5 Variable lease cost $ 9.0 $ 22.6 Sublease income $ 3.0 $ 9.2 Supplemental balance sheet information related to leases was as follows (in millions): As of September 30, 2019 Operating Leases Non-current operating lease assets $ 502.8 Other current liabilities $ 116.1 Non-current operating lease liabilities 468.5 Total operating lease liabilities $ 584.6 Finance Leases Property and equipment, gross $ 51.7 Accumulated depreciation (31.8 ) Property and equipment, net $ 19.9 Other current liabilities $ 9.9 Other non-current liabilities 8.3 Total finance lease liabilities $ 18.2 Weighted Average Remaining Lease Term Operating leases 6.0 years Finance leases 3.0 years Weighted Average Discount Rate Operating leases 5.9 % Finance leases 4.9 % Supplemental cash flow information related to leases was as follows (in millions): Nine Months Ended September 30, 2019 Cash paid for amounts used in the measurement of lease liabilities: Operating cash flows used in operating leases $ 118.6 Operating cash flows used in finance leases 0.5 Assets obtained in exchange for lease obligations: Operating leases 46.5 Finance leases 8.0 Maturities of lease liabilities are as follows (in millions): Operating Leases Finance Leases 2019 $ 38.3 $ 9.7 2020 142.5 6.5 2021 116.6 2.4 2022 101.2 0.4 2023 85.3 — Thereafter 215.8 — Total lease payments 699.7 19.0 Less imputed interest 115.1 0.8 Total $ 584.6 $ 18.2 As of September 30, 2019 , we have operating leases that have not yet commenced of $20.0 million . These operating leases will commence during 2020 with lease terms of 3 years to 12 years . For the Three and Nine Months Ended September 30, 2018 Reported in Accordance with Topic 840 The Company has entered into operating leases for real estate and equipment such as, motor vehicles and IT equipment. Additionally, the Company has entered into capital leases for the use of furniture, motor vehicles and IT equipment. Generally, both operating and capital leases have limited restrictions or covenants on the Company for incurring additional financial obligations. Total net rent expense was $31.0 million and $99.8 million , net of sublease income of $4.6 million and $18.6 million , for the three and nine months ended September 30, 2018, respectively. Additionally, the Company has entered into capital leases as a means of funding the acquisition of furniture and equipment and acquiring access to real estate and vehicles. Rental payments are generally fixed, with no special terms or conditions. As of December 31, 2018 Reported in Accordance with Topic 840 As of December 31, 2018, the obligations for operating and capital leases are as summarized below (in millions): Operating Leases Capital Leases 2019 $ 152.9 $ 9.3 2020 139.3 6.4 2021 112.8 2.3 2022 96.3 0.4 2023 80.4 — Thereafter 210.2 — Total lease payments $ 791.9 $ 18.4 Future minimum lease payments are net of total sub-lease rental income of $58.9 million . Capital lease obligations are shown net of $1.1 million of interest charges.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 11: Commitments and Contingencies Guarantees The Company’s guarantees primarily relate to requirements under certain client service contracts and have arisen through the normal course of business. These guarantees, with certain financial institutions, have both open and closed-ended terms; with remaining closed-ended terms up to 8 years and maximum potential future payments of $39.6 million in the aggregate, with none of these guarantees being individually material to the Company’s operating results, financial position or liquidity. The Company’s current expectation is that future payment or performance related to non-performance under these guarantees is considered remote. Contingencies In the normal course of business, the Company is subject to various claims and litigation. Many of these claims are covered under the Company’s current insurance programs, subject to self-insurance levels and deductibles. The Company is also subject to threatened or pending legal actions arising from activities of contractors. Such liabilities include the potential costs to settle litigation. A liability is recorded for the potential costs of carrying out further works based on known claims and previous claims history, and for losses from litigation that are probable and estimable. A liability is also recorded for the Company’s incurred but not reported ("IBNR") claims, based on assessment using prior claims history. Claims liabilities are presented as Other current liabilities and Other non-current liabilities in the unaudited Condensed Consolidated Balance Sheets. As of September 30, 2019 and December 31, 2018 , contingent liabilities recorded within Other current liabilities were $82.0 million and $69.5 million , respectively and contingent liabilities recorded within Other non-current liabilities were $23.7 million and $23.4 million , respectively. These contingent liabilities are made up of errors and omissions ("E&O") claims, workers’ compensation insurance liabilities and other claims and contingent liabilities. At September 30, 2019 and December 31, 2018 , E&O and other claims were $33.1 million and $32.8 million , respectively, and workers’ compensation liabilities were $72.6 million and $60.1 million , respectively, included within Other current liabilities and Other non-current liabilities in the unaudited Condensed Consolidated Balance Sheets. The ultimate settlement of these matters may result in payments materially in excess of the amounts recorded due to their contingent nature and inherent uncertainties of settlement proceedings. The Company had insurance recoverable balances as of September 30, 2019 and December 31, 2018 totaling $5.2 million and $3.9 million .

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Note 12: Related Party Transactions TPG Capital, L.P. (“TPG”) and PAG Asia Capital Limited (“PAG”), which are the Company's majority shareholders, previously provided management and transaction advisory services to the Company pursuant to a management services agreement. Under the management agreement with TPG and PAG, the Company paid an annual fee of $4.3 million , payable quarterly, for management advisory services. In conjunction with the Company’s IPO in 2018, the management services agreement governing these payments was terminated and resulted in a termination fee of $11.9 million . For the three and nine months ended September 30, 2019 and 2018 , the Company had no other material transactions with the majority shareholders. Transactions with equity accounted investees For the three and nine months ended September 30, 2019 and 2018 , the Company had no material sales or purchases with equity accounted investees. As of September 30, 2019 and December 31, 2018 , the Company had no material receivables or payables with equity accounted investees. Receivables from affiliates As of September 30, 2019 and December 31, 2018 , the Company had receivables from affiliates of $34.7 million and $31.7 million and $208.4 million and $214.3 million that are included in Prepaid expenses and other current assets and Other non-current assets, respectively, in the unaudited Condensed Consolidated Balance Sheets. These amounts primarily represent prepaid commissions, retention and sign-on bonuses to brokers and other items such as travel and other advances to employees.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 13: Fair Value Measurements The Company measures certain assets and liabilities in accordance with ASC 820, Fair Value Measurements and Disclosures (“ASC 820”), which defines fair value as the price that would be received for an asset, or paid to transfer a liability, in an orderly transaction between market participants on the measurement date. In addition, ASC 820 establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value as follows: • Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities; • Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); and • Level 3: inputs for the asset or liability that are based on unobservable inputs in which there is little or no market data. There were no significant transfers in or out of Level 1 and Level 2 during the three and nine months ended September 30, 2019 and 2018 . There have been no significant changes to the valuation techniques and inputs used to develop the recurring fair value measurements from those disclosed in the Company's audited Consolidated Financial Statements for the year ended December 31, 2018 . Financial Instruments The Company's financial instruments include cash and cash equivalents, trade and other receivables, deferred purchase price receivable ("DPP"), restricted cash, accounts payable and accrued expenses, short-term borrowings, long-term debt, interest rate swaps and foreign exchange contracts. The carrying amount of cash and cash equivalents approximates the fair value of these instruments. Certain money market funds in which the Company has invested are highly liquid and considered cash equivalents. These funds are valued at the per unit rate published as the basis for current transactions. The estimated fair value of external debt was $2.7 billion and $2.6 billion as of September 30, 2019 and December 31, 2018 , respectively. These instruments were valued using dealer quotes that are classified as Level 2 inputs in the fair value hierarchy. The gross carrying value of the debt was $2.7 billion and $2.7 billion as of September 30, 2019 and December 31, 2018 , respectively, which excludes debt issuance costs. See Note 8: Long-term Debt and Other Borrowings for additional information. The estimated fair values of interest rate swaps and foreign currency forward contracts are determined based on the expected cash flows of each derivative. The valuation method reflects the contractual period and uses observable market-based inputs, including interest rate and foreign currency forward curves. Recurring Fair Value Measurements The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2019 and December 31, 2018 (in millions): As of September 30, 2019 Total Level 1 Level 2 Level 3 Assets Cash equivalents - money market funds $ 52.0 $ 52.0 $ — $ — Deferred compensation plan assets 53.1 53.1 — — Foreign currency forward contracts 1.8 — 1.8 — Deferred purchase price receivable 144.2 — — 144.2 Total $ 251.1 $ 105.1 $ 1.8 $ 144.2 Liabilities Deferred compensation plan liabilities $ 49.7 $ 49.7 $ — $ — Foreign currency forward contracts 0.7 — 0.7 — Interest rate swap agreements 119.6 — 119.6 — Earn-out liabilities 15.0 — — 15.0 Total $ 185.0 $ 49.7 $ 120.3 $ 15.0 As of December 31, 2018 Total Level 1 Level 2 Level 3 Assets Cash equivalents - money market funds $ 173.5 $ 173.5 $ — $ — Deferred compensation plan assets 48.8 48.8 — — Foreign currency forward contracts 0.5 — 0.5 — Deferred purchase price receivable 140.1 — — 140.1 Total $ 362.9 $ 222.3 $ 0.5 $ 140.1 Liabilities Deferred compensation plan liabilities $ 47.7 $ 47.7 $ — $ — Foreign currency forward contracts 0.8 — 0.8 — Interest rate swap agreements 25.1 — 25.1 — Earn-out liabilities 38.3 — — 38.3 Total $ 111.9 $ 47.7 $ 25.9 $ 38.3 Deferred Compensation Plans The Company provided deferred compensation plans to certain U.S. employees whereby the employee could defer a portion of employee compensation, which the Company would hold in trust, enabling the employees to defer tax on compensation until payment is made to them from the trust. These plans are frozen. The employee continues to be at risk for any investment fluctuations of the funds held in trust. The fair value of assets and liabilities are based on the value of the underlying investments using quoted prices in active markets at period end. In the event of insolvency of the Company, the trust’s assets are available to all general creditors of the Company. In December 2018, the Company adopted a new deferred compensation plan, which became effective on January 1, 2019. The plan allows highly-compensated employees to defer a portion of compensation, enabling the employee to defer tax on compensation until payment is made. Deferred compensation is credited into an account denominated in ordinary shares of the Company in a number determined based on the fair market value of the Company’s ordinary shares on the date of the deposit. All payments are made in ordinary shares. In the event of insolvency of the Company, the deferred compensation is available to general creditors of the Company. Deferred compensation plan assets are presented within Prepaid expenses and other current assets and Other non-current assets in the unaudited Condensed Consolidated Balance Sheets. Deferred compensation liabilities are presented within Accrued compensation and Other non-current liabilities in the unaudited Condensed Consolidated Balance Sheets. Foreign Currency Forward Contracts and Net Investment Hedges, and Interest Rate Swaps and Cap Agreements Refer to Note 7: Derivative Financial Instruments and Hedging Activities for discussion of the fair value associated with these derivative assets and liabilities. Deferred Purchase Price Receivable The Company recorded a DPP under its A/R Securitization upon the initial sale of trade receivables. The DPP represents the difference between the fair value of the trade receivables sold and the cash purchase price and is recognized at fair value as part of the sale transaction. The DPP is subsequently remeasured each reporting period in order to account for activity during the period, such as the Seller’s interest in any newly transferred receivables, collections on previously transferred receivables attributable to the DPP and changes in estimates for credit losses. Changes in the DPP attributed to changes in estimates for credit losses are expected to be immaterial, as the underlying receivables are short-term and of high credit quality. The DPP is included in Other non-current assets in the unaudited Condensed Consolidated Balance Sheets and is valued using unobservable inputs (i.e., Level 3 inputs), primarily discounted cash flows. Refer to Note 14: Accounts Receivable Securitization for more information. Earn-out Liabilities Earn-out liabilities are classified within Level 3 in the fair value hierarchy because the methodology used to develop the estimated fair value includes significant unobservable inputs reflecting management’s own assumptions. The fair value of earn-out liabilities is based on the present value of probability-weighted expected return method related to the earn-out performance criteria on each reporting date. The probabilities of achievement assigned to the performance criteria are determined based on due diligence performed at the time of acquisition as well as actual performance achieved subsequent to acquisition. Adjustments to the earn-out liabilities in periods subsequent to the completion of acquisitions are reflected within Operating, administrative and other in the unaudited Condensed Consolidated Statements of Operations. The table below presents a reconciliation of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in millions): Earn-out Liabilities 2019 2018 Balance as of January 1, $ 38.3 $ 51.3 Purchases/additions — 2.0 Net change in fair value and other adjustments (0.2 ) 2.9 Payments (23.1 ) (22.3 ) Balance as of September 30, $ 15.0 $ 33.9 Earn-out Liabilities 2019 2018 Balance as of July 1, $ 25.1 $ 43.5 Purchases/additions — 2.0 Net change in fair value and other adjustments (0.3 ) 2.7 Payments (9.8 ) (14.3 ) Balance as of September 30, $ 15.0 $ 33.9

Accounts Receivable Securitizat

Accounts Receivable Securitization	9 Months Ended
	Sep. 30, 2019
Transfers and Servicing [Abstract]
Accounts Receivable Securitization	Note 14: Accounts Receivable Securitization On August 20, 2018, the Company amended the A/R Securitization that was initially entered into on March 8, 2017 to increase the investment limit from $100.0 million to $125.0 million and extended the termination date to August 20, 2021, unless extended or an earlier termination event occurs. Under the A/R Securitization, certain of the Company's wholly owned subsidiaries continuously sell trade receivables to an unaffiliated financial institution. The Company’s wholly owned subsidiaries sell (or contribute) the receivables to wholly owned special purpose entities at fair market value. The special purpose entities then sell 100% of the receivables to an unaffiliated financial institution (“the Purchaser”). Although the special purpose entities are wholly owned subsidiaries of the Company, they are separate legal entities with their own separate creditors who will be entitled, upon their liquidation, to be satisfied out of their assets prior to any assets or value in such special purpose entities becoming available to their equity holders and their assets are not available to pay other creditors of the Company. As of September 30, 2019 and December 31, 2018 , the Company had $0.0 million drawn on the investment limit. All transactions under the A/R Securitization are accounted for as a true sale in accordance with ASC 860, Transfers and Servicing ("Topic 860") . Following the sale and transfer of the receivables to the Purchaser, the receivables are legally isolated from the Company and its subsidiaries, and the Company sells, conveys, transfers and assigns to the Purchaser all its rights, title and interest in the receivables. Receivables sold are derecognized from the statement of financial position. The Company continues to service, administer and collect the receivables on behalf of the Purchaser, and recognizes a servicing liability in accordance with Topic 860. Any financial statement impact associated with the servicing liability was immaterial for all periods presented. This program allows the Company to receive a cash payment and a DPP for sold receivables. The DPP is paid to the Company in cash on behalf of the Purchaser as the receivables are collected; however, due to the revolving nature of the A/R Securitization, cash collected from the Company’s customers is reinvested by the Purchaser daily in new receivable purchases under the A/R Securitization. For the nine months ended September 30, 2019 and 2018 , receivables sold under the A/R securitization were $854.9 million and $827.9 million , respectively, and cash collections from customers on receivables sold were $865.4 million and $803.4 million , respectively, all of which were reinvested in new receivables purchases and are included in cash flows from operating activities in the unaudited Condensed Consolidated Statement of Cash Flows. As of September 30, 2019 and December 31, 2018 , the outstanding principal on receivables sold under the A/R Securitization were $163.2 million and $173.7 million , respectively. Refer to Note 13: Fair Value Measurements for additional discussion on the fair value of the DPP as of September 30, 2019 and December 31, 2018 . The Company did not recognize any material income or loss related to receivables sold for the three and nine months ended September 30, 2019 and 2018 . Based on the Company’s collection history, the fair value of the receivables sold subsequent to the initial sale approximates carrying value. The Company incurred program costs of $0.3 million and $1.9 million , for the three months ended September 30, 2019 and 2018 , respectively, and $1.1 million and $4.3 million for the nine months ended September 30, 2019 and 2018 , respectively, which were included in Operating, administrative and other expenses in the unaudited Condensed Consolidated Statement of Operations.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2019
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Note 15: Supplemental Cash Flow Information The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the unaudited Condensed Consolidated Balance Sheets to the sum of such amounts presented in the unaudited Condensed Consolidated Statements of Cash Flows (in millions): Nine Months Ended September 30, 2019 2018 Cash and cash equivalents, beginning of period $ 895.3 $ 405.6 Restricted cash recorded in Prepaid expenses and other current assets, beginning of period 70.1 62.3 Total cash, cash equivalents and restricted cash shown in the statements of cash flows, beginning of period $ 965.4 $ 467.9 Cash and cash equivalents, end of period $ 400.1 $ 939.0 Restricted cash recorded in Prepaid expenses and other current assets, end of period 69.4 58.2 Total cash, cash equivalents and restricted cash shown in the statements of cash flows, end of period $ 469.5 $ 997.2 Supplemental cash flows and non-cash investing and financing activities are as follows (in millions): Nine Months Ended September 30, 2019 2018 Cash paid for: Interest $ 115.3 $ 144.9 Income taxes 48.7 41.2 Non-cash investing/financing activities: Property and equipment acquired through capital leases 8.0 4.1 Deferred and contingent acquisition payment obligations 12.3 8.6 Increase in beneficial interest in a securitization 4.1 5.1

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Note 16: Subsequent Events The Company has evaluated subsequent events through November 5, 2019 , the date on which these financial statements were issued, and has determined there are no material subsequent events to disclose.

New Accounting Standards (Polic

New Accounting Standards (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
New accounting pronouncements	The Company has adopted the following new accounting standards: Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (together with all subsequent amendments, Topic 842 ), which replaced most existing lease guidance under U.S. GAAP when it became effective on January 1, 2019. The new guidance requires a lessee to record a Non-current operating lease asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. Companies will recognize expenses for real estate related leases on the statements of operations in a manner similar to current accounting guidance and, for lessors, the guidance remains substantially similar to current U.S. GAAP. In July 2018, the FASB issued two additional amendments that affect the guidance issued in ASU 2016-02 as described in the following updates ASU 2018-10, Codification Improvements to Topic 842, Leases and ASU 2018-11, Leases (Topic 842): Targeted Improvements . The amendments in ASU 2018-10 affect narrow aspects of the guidance issued in ASU 2016-02. The amendments in ASU 2018-11 provide an alternative (and optional) transition method that allows entities to apply the transition provisions in ASU 2016-02 at the adoption date instead of at the earliest comparative period presented in the financial statements. The Company elected to use the optional transition method upon adoption effective January 1, 2019 and did not revise comparative financial statements or disclosures. Refer to Note 10: Leases of the Notes to unaudited Condensed Consolidated Financial Statements. Stock Compensation In June 2018, the FASB issued ASU No. 2018-07, Compensation - Stock Compensation: Improvements to Nonemployee Share-Based Payment Accounting (Topic 718) . The ASU supersedes ASC 505-50, Equity-Based Payments to Non-Employees and expands the scope of Topic 718 to include stock-based payments granted to non-employees. Under the new guidance, the measurement date and performance and vesting conditions for stock-based payments to non-employees are aligned with those of employees, most notably aligning the award measurement date with the grant date of an award. The new guidance is required to be adopted using the modified retrospective transition approach. The Company adopted the new guidance effective January 1, 2019, with an immaterial impact on its financial statements and related disclosures. Income Taxes In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The new guidance allows a reclassification from accumulated other comprehensive income to retained earnings for any stranded tax effects resulting from the H.R. 1, Tax Cuts and Jobs Act that was enacted on December 22, 2017. The new guidance is effective for public companies for annual reporting periods and interim periods within those annual periods beginning after December 15, 2018. The effect of this ASU on the financial statements was immaterial. Derivatives and Hedging In August 2017, the FASB issued ASU No. 2017-12, Targeted Improvements to Accounting for Hedging Activities (Topic 815) . The new guidance eliminates the requirement to separately measure and report hedge ineffectiveness and is intended to reduce the complexity of applying hedge accounting by simplifying the designation and measurement of hedging instruments. The ASU is required to be applied retrospectively to eliminate the separate measurement of ineffectiveness through a cumulative-effect adjustment to Accumulated other comprehensive income with a corresponding adjustment to the opening balance of retained earnings. The new guidance is required to be adopted using the retrospective approach. The Company adopted the new guidance effective January 1, 2019 with an immaterial impact on its financial statements and related disclosures. The following recently issued accounting standards are not yet required to be reflected in the unaudited Condensed Consolidated Financial Statements of the Company: Financial Instruments In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . The ASU provides financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. The amendments in this ASU replace the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. In April 2019, the FASB issued ASU 2019-04, Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments. The amendments in this ASU represent changes to clarify, correct errors in, or make minor improvements to the Codification, eliminating inconsistencies and providing clarification in current guidance. In June 2019, the FASB issued ASU 2019-05, Financial Instruments-Credit Losses (Topic 326): Targeted Transition Relief. The ASU provides optional targeted transition relief that allows reporting entities to irrevocably elect the fair value option on financial instruments that 1) were previously recorded at amortized cost and 2) are within the scope of Topic 326 if the instruments are eligible for the fair value option under Topic 825. The new guidance is effective for public companies for annual reporting periods and interim periods within those annual periods beginning after December 15, 2019. The Company is currently evaluating the effect, if any, that the ASUs will have on its financial statements and related disclosures.

Segment Data (Tables)

Segment Data (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule of summarized financial information by segment	Summarized financial information by segment is as follows (in millions): Americas Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Total revenue $ 1,512.8 $ 1,475.6 $ 4,353.3 $ 4,053.9 Less: Gross contract costs (430.4 ) (424.9 ) (1,252.7 ) (1,164.2 ) Acquisition accounting adjustments — — — 2.5 Total Fee revenue $ 1,082.4 $ 1,050.7 $ 3,100.6 $ 2,892.2 Service lines: Property, facilities and project management $ 480.8 $ 427.4 $ 1,428.4 $ 1,257.8 Leasing 372.3 410.7 1,056.1 1,031.0 Capital markets 181.6 177.3 492.0 491.3 Valuation and other 47.7 35.3 124.1 112.1 Total Fee revenue $ 1,082.4 $ 1,050.7 $ 3,100.6 $ 2,892.2 Segment operating expenses $ 1,387.5 $ 1,346.6 $ 4,035.2 $ 3,742.1 Less: Gross contract costs (430.4 ) (424.9 ) (1,252.7 ) (1,164.2 ) Total Fee-based operating expenses $ 957.1 $ 921.7 $ 2,782.5 $ 2,577.9 Adjusted EBITDA $ 125.2 $ 128.8 $ 318.0 $ 314.2 EMEA Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Total revenue $ 235.5 $ 226.9 $ 667.0 $ 650.9 Less: Gross contract costs (26.4 ) (15.4 ) (68.1 ) (76.4 ) Total Fee revenue $ 209.1 $ 211.5 $ 598.9 $ 574.5 Service lines: Property, facilities and project management $ 71.4 $ 60.0 $ 214.7 $ 178.1 Leasing 55.6 67.2 161.3 173.9 Capital markets 41.6 40.0 101.1 98.5 Valuation and other 40.5 44.3 121.8 124.0 Total Fee revenue $ 209.1 $ 211.5 $ 598.9 $ 574.5 Segment operating expenses $ 216.4 $ 198.3 $ 635.3 $ 613.5 Less: Gross contract costs (26.4 ) (15.4 ) (68.1 ) (76.4 ) Total Fee-based operating expenses $ 190.0 $ 182.9 $ 567.2 $ 537.1 Adjusted EBITDA $ 20.3 $ 29.0 $ 35.5 $ 40.5 APAC Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Total revenue $ 370.5 $ 373.5 $ 1,123.2 $ 1,113.2 Less: Gross contract costs (112.6 ) (127.2 ) (325.2 ) (381.0 ) Total Fee revenue $ 257.9 $ 246.3 $ 798.0 $ 732.2 Service lines: Property, facilities and project management $ 170.9 $ 165.0 $ 526.6 $ 488.6 Leasing 42.6 41.4 115.1 110.4 Capital markets 14.8 16.5 71.8 59.1 Valuation and other 29.6 23.4 84.5 74.1 Total Fee revenue $ 257.9 $ 246.3 $ 798.0 $ 732.2 Segment operating expenses $ 347.5 $ 352.2 $ 1,046.8 $ 1,045.2 Less: Gross contract costs (112.6 ) (127.2 ) (325.2 ) (381.0 ) Total Fee-based operating expenses $ 234.9 $ 225.0 $ 721.6 $ 664.2 Adjusted EBITDA $ 23.0 $ 21.2 $ 77.9 $ 68.9
Schedule of adjusted EBITDA	Adjusted EBITDA is calculated as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net income (loss) $ 11.7 $ (41.4 ) $ (2.9 ) $ (167.8 ) Add/(less): Depreciation and amortization 75.0 71.6 222.8 213.0 Interest expense, net of interest income 37.4 92.7 112.8 189.1 Benefit from income taxes (11.0 ) (30.6 ) (40.5 ) (48.0 ) Integration and other costs related to merger 29.9 64.7 74.1 173.9 Pre-IPO stock-based compensation 11.4 8.0 33.6 25.0 Cassidy Turley deferred payment obligation — 11.0 — 30.8 Acquisition related costs and other efficiency initiatives 8.0 — 17.7 — Other 6.1 3.0 13.8 7.6 Adjusted EBITDA $ 168.5 $ 179.0 $ 431.4 $ 423.6
Schedule of reconciliation of Fee-based operating expenses	Below is the reconciliation of total costs of Fee-based operating expenses by segment to Consolidated Fee-based operating expenses (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Americas Fee-based operating expenses $ 957.1 $ 921.7 $ 2,782.5 $ 2,577.9 EMEA Fee-based operating expenses 190.0 182.9 567.2 537.1 APAC Fee-based operating expenses 234.9 225.0 721.6 664.2 Segment Fee-based operating expenses 1,382.0 1,329.6 4,071.3 3,779.2 Depreciation and amortization 75.0 71.6 222.8 213.0 Integration and other costs related to merger (1) 29.9 64.7 74.1 171.4 Pre-IPO stock-based compensation 11.4 8.0 33.6 25.0 Cassidy Turley deferred payment obligation — 11.0 — 30.8 Acquisition related costs and other efficiency initiatives 8.0 — 17.7 — Other 6.1 3.0 13.8 7.6 Fee-based operating expenses $ 1,512.4 $ 1,487.9 $ 4,433.3 $ 4,227.0 (1) Represents integration and other costs related to merger, comprised of certain direct and incremental costs resulting from merger and related integration efforts, as well as costs related to our restructuring programs, excluding the impact of acquisition accounting revenue adjustments as these amounts do not impact operating expenses. Below is the reconciliation of total costs and expenses to Fee-based operating expenses (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Total costs and expenses $ 2,081.8 $ 2,055.4 $ 6,079.3 $ 5,848.6 Less: Gross contract costs (569.4 ) (567.5 ) (1,646.0 ) (1,621.6 ) Fee-based operating expenses $ 1,512.4 $ 1,487.9 $ 4,433.3 $ 4,227.0

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Potentially dilutive securities of approximately 7.2 million for the nine months ended September 30, 2019 and 13.0 million and 11.8 million for the three and nine months ended September 30, 2018 were excluded from the computation of diluted EPS because their effect would have been anti-dilutive in these periods. The following is a calculation of EPS (in millions, except per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Basic EPS Net income (loss) attributable to shareholders $ 11.7 $ (41.4 ) $ (2.9 ) $ (167.8 ) Weighted average shares outstanding for basic earnings (loss) per share 218.0 184.0 217.2 158.5 Basic earnings (loss) per common share attributable to shareholders $ 0.05 $ (0.23 ) $ (0.01 ) $ (1.06 ) Diluted EPS Net income (loss) attributable to shareholders $ 11.7 $ (41.4 ) $ (2.9 ) $ (167.8 ) Weighted average shares outstanding for basic earnings (loss) per share: 218.0 184.0 217.2 158.5 Dilutive effect of restricted stock units 5.0 — — — Dilutive effective of stock options 1.5 — — — Weighted average shares outstanding for diluted earnings (loss) per share 224.5 184.0 217.2 158.5 Diluted earnings (loss) per common share attributable to shareholders $ 0.05 $ (0.23 ) $ (0.01 ) $ (1.06 )

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of revenue	The following tables disaggregate revenue by reportable segment and service line (in millions): Three Months Ended September 30, 2019 Revenue recognition timing Americas EMEA APAC Total Property, facilities and project management Over time $ 906.1 $ 96.6 $ 283.4 $ 1,286.1 Leasing At a point in time 375.6 56.0 42.6 474.2 Capital markets At a point in time 182.8 41.7 14.8 239.3 Valuation and other At a point in time or over time 48.3 41.2 29.7 119.2 Total revenue $ 1,512.8 $ 235.5 $ 370.5 $ 2,118.8 Three Months Ended September 30, 2018 Revenue recognition timing Americas EMEA APAC Total Property, facilities and project management Over time $ 849.3 $ 75.0 $ 292.2 $ 1,216.5 Leasing At a point in time 413.1 67.5 41.4 522.0 Capital markets At a point in time 177.8 40.0 16.5 234.3 Valuation and other At a point in time or over time 35.4 44.4 23.4 103.2 Total revenue $ 1,475.6 $ 226.9 $ 373.5 $ 2,076.0 Nine Months Ended September 30, 2019 Revenue recognition timing Americas EMEA APAC Total Property, facilities and project management Over time $ 2,667.9 $ 280.3 $ 851.6 $ 3,799.8 Leasing At a point in time 1,064.7 161.9 115.1 1,341.7 Capital markets At a point in time 494.8 101.3 71.8 667.9 Valuation and other At a point in time or over time 125.9 123.5 84.7 334.1 Total revenue $ 4,353.3 $ 667.0 $ 1,123.2 $ 6,143.5 Nine Months Ended September 30, 2018 Revenue recognition timing Americas EMEA APAC Total Property, facilities and project management Over time $ 2,412.0 $ 252.6 $ 869.6 $ 3,534.2 Leasing At a point in time 1,034.6 174.5 110.4 1,319.5 Capital markets At a point in time 492.8 98.5 59.1 650.4 Valuation and other At a point in time or over time 114.5 125.3 74.1 313.9 Total revenue $ 4,053.9 $ 650.9 $ 1,113.2 $ 5,818.0

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill	The following table summarizes the changes in the carrying amount of goodwill for the nine months ended September 30, 2019 (in millions): Americas EMEA APAC Total Balance as of December 31, 2018 $ 1,254.4 $ 266.1 $ 258.0 $ 1,778.5 Acquisitions 160.3 — 12.7 173.0 Measurement period adjustments (0.7 ) — 0.3 (0.4 ) Effect of movements in exchange rates and other 2.0 (10.8 ) (11.6 ) (20.4 ) Balance as of September 30, 2019 $ 1,416.0 $ 255.3 $ 259.4 $ 1,930.7
Summary of Finite-Lived Intangible Assets	The following tables summarize the carrying amounts and accumulated amortization of intangible assets (in millions): As of September 30, 2019 Useful Life (in years) Gross Value Accumulated Amortization Net Value C&W trade name Indefinite $ 546.0 $ — $ 546.0 Customer relationships 1 – 15 1,307.8 (769.3 ) 538.5 Other intangible assets 2 – 13 14.5 (5.4 ) 9.1 Total intangible assets $ 1,868.3 $ (774.7 ) $ 1,093.6 As of December 31, 2018 Useful Life (in years) Gross Value Accumulated Amortization Net Value C&W trade name Indefinite $ 546.0 $ — $ 546.0 Customer relationships 1 – 15 1,199.7 (637.1 ) 562.6 Other intangible assets 2 – 13 32.8 (13.2 ) 19.6 Total intangible assets $ 1,778.5 $ (650.3 ) $ 1,128.2
Summary of Indefinite-Lived Intangible Assets	The following tables summarize the carrying amounts and accumulated amortization of intangible assets (in millions): As of September 30, 2019 Useful Life (in years) Gross Value Accumulated Amortization Net Value C&W trade name Indefinite $ 546.0 $ — $ 546.0 Customer relationships 1 – 15 1,307.8 (769.3 ) 538.5 Other intangible assets 2 – 13 14.5 (5.4 ) 9.1 Total intangible assets $ 1,868.3 $ (774.7 ) $ 1,093.6 As of December 31, 2018 Useful Life (in years) Gross Value Accumulated Amortization Net Value C&W trade name Indefinite $ 546.0 $ — $ 546.0 Customer relationships 1 – 15 1,199.7 (637.1 ) 562.6 Other intangible assets 2 – 13 32.8 (13.2 ) 19.6 Total intangible assets $ 1,778.5 $ (650.3 ) $ 1,128.2

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivatives	The following table presents the fair value of derivatives as of September 30, 2019 and December 31, 2018 (in millions): September 30, 2019 December 31, 2018 Assets Liabilities Assets Liabilities Derivative Instrument Notional Fair Value Fair Value Fair Value Fair Value Designated: Cash flow hedges: Interest rate swaps $ 2,050.0 $ — $ 119.6 $ — $ 25.1 Non-designated: Foreign currency forward contracts 407.8 1.8 0.7 0.5 0.8
Schedule of Effect of Derivatives As Hedges, Net of Applicable Income Taxes	The following table presents the effect of derivatives designated as hedges, net of applicable income taxes, in the unaudited Condensed Consolidated Statements of Operations for the nine months ended September 30, 2019 and 2018 (in millions): Beginning Accumulated Other Comprehensive (Gain) Loss Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives (1) Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Statement of Operations (2) Ending Accumulated Other Comprehensive Loss (Gain) Nine Months Ended September 30, 2019 Foreign currency cash flow hedges $ — $ — $ — $ — Foreign currency net investment hedges (0.6 ) — — (0.6 ) Interest rate cash flow hedges (13.3 ) 105.9 5.1 97.7 $ (13.9 ) $ 105.9 $ 5.1 $ 97.1 Nine Months Ended September 30, 2018 Foreign currency cash flow hedges $ 2.2 $ (7.3 ) $ 5.1 $ — Foreign currency net investment hedges 0.7 (1.0 ) — (0.3 ) Interest rate cash flow hedges (22.5 ) (30.3 ) 7.3 (45.5 ) $ (19.6 ) $ (38.6 ) $ 12.4 $ (45.8 ) (1) Amount is net of related income tax expense of $5.1 million and $7.1 million for the nine months ended September 30, 2019 and 2018 , respectively. (2) Amount is net of related income tax expense of $(2.3) million and $(1.8) million for the nine months ended September 30, 2019 and 2018 , respectively. The following table presents the effect of derivatives designated as hedges, net of applicable income taxes, in the unaudited Condensed Consolidated Statements of Operations for the three months ended September 30, 2019 and 2018 (in millions): Beginning Amount of Loss (1) Amount of Gain (Loss) (2) Ending Three Months Ended September 30, 2019 Foreign currency cash flow hedges $ — $ — $ — $ — Foreign currency net investment hedges (0.6 ) — — (0.6 ) Interest rate cash flow hedges 70.0 26.6 1.1 97.7 $ 69.4 $ 26.6 1 $ 1.1 2 $ 97.1 Three Months Ended September 30, 2018 Foreign currency cash flow hedges $ 1.5 $ (2.5 ) $ 1.0 $ — Foreign currency net investment hedges (0.4 ) 0.1 — (0.3 ) Interest rate cash flow hedges (42.3 ) (5.2 ) 2.0 (45.5 ) $ (41.2 ) $ (7.6 ) 1 $ 3.0 2 $ (45.8 ) (1) Amount is net of related income tax expense of $0.0 million and $1.4 million for the three months ended September 30, 2019 and 2018 , respectively. (2) Amount is net of related income tax expense of $(0.8) million and $(0.4) million for the three months ended September 30, 2019 and 2018 , respectively.

Long-term Debt and Other Borr_2

Long-term Debt and Other Borrowings (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consisted of the following (in millions): As of September 30, 2019 December 31, 2018 Collateralized: 2018 First Lien Loan, net of unamortized discount and issuance costs of $29.3 million and $31.9 million, respectively $ 2,643.7 $ 2,661.3 Capital lease liability 18.2 19.5 Notes payable to former stockholders 0.3 0.4 Total long-term debt 2,662.2 2,681.2 Less current portion (36.9 ) (37.0 ) Total non-current long-term debt $ 2,625.3 $ 2,644.2

Stock-based Payments (Tables)

Stock-based Payments (Tables)	9 Months Ended
	Sep. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Outstanding Time-Based and Performance-Based Stock Options	The tables below summarize the Company’s outstanding time-based stock options (in millions, except for per share amounts): Time-Based Options Number of Options Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (in years) Outstanding as of December 31, 2018 3.3 $ 11.23 6.8 Exercised (0.5 ) 10.04 Forfeited (0.1 ) 11.19 Outstanding as of September 30, 2019 2.7 $ 11.47 6.1 Exercisable as of September 30, 2019 1.8 $ 10.63 5.9 The tables below summarize the Company’s outstanding performance-based stock options (in millions, except for per share amounts): Performance-Based Options Number of Options Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (in years) Outstanding as of December 31, 2018 1.5 $ 11.48 6.9 Forfeited (0.1 ) 10.87 Outstanding as of September 30, 2019 1.4 $ 11.64 6.2 Exercisable as of September 30, 2019 — — —
Summary of Outstanding RSU's	The following table provides information about the Company’s outstanding restricted stock units ("RSUs") (in millions, except for per share amounts): Co-Investment RSUs Time-Based RSUs Performance-Based RSUs Number of RSUs Weighted Average Fair Value Per Share Number of RSUs Weighted Average Fair Value Per Share Number of RSUs Weighted Average Fair Value Per Share Unvested as of December 31, 2018 0.6 $ 11.50 7.8 $ 14.63 0.7 $ 15.94 Granted — — 1.9 17.78 0.4 19.64 Vested (0.6 ) 11.34 (3.1 ) 14.11 — — Forfeited (0.0 ) 17.00 (0.1 ) 16.47 — — Unvested as of September 30, 2019 0.0 $ 14.41 6.5 $ 15.80 1.1 $ 17.08
Summary of Compensation Expense Related to RSUs	The following table summarizes the Company's compensation expense related to RSUs (in millions): Three Months Ended September 30, Nine Months Ended September 30, Unrecognized at September 30, 2019 2019 2018 2019 2018 Time-Based RSUs $ 11.4 $ 7.6 $ 32.5 $ 21.4 $ 64.3 Co-Investment RSUs 0.1 0.1 0.3 0.5 0.2 Performance-Based RSUs 0.6 — 1.3 — 5.5 Equity classified compensation cost 12.1 7.7 34.1 21.9 70.0 Liability classified compensation cost (1) — 0.8 — 4.9 — Total RSU stock-based compensation cost $ 12.1 $ 8.5 $ 34.1 $ 26.8 $ 70.0 (1) In the third quarter of 2018, all liability classified awards were reclassified to equity, due to certain contingencies being lifted.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Components of Lease Cost and Supplemental Cash Flow Information	Supplemental cash flow information related to leases was as follows (in millions): Nine Months Ended September 30, 2019 Cash paid for amounts used in the measurement of lease liabilities: Operating cash flows used in operating leases $ 118.6 Operating cash flows used in finance leases 0.5 Assets obtained in exchange for lease obligations: Operating leases 46.5 Finance leases 8.0 The components of lease cost were as follows (in millions): Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost $ 38.5 $ 115.9 Finance lease cost: Amortization of assets $ 3.3 $ 8.0 Interest on lease liabilities 0.3 0.5 Total finance lease cost $ 3.6 $ 8.5 Variable lease cost $ 9.0 $ 22.6 Sublease income $ 3.0 $ 9.2
Supplemental Balance Sheet Information	Supplemental balance sheet information related to leases was as follows (in millions): As of September 30, 2019 Operating Leases Non-current operating lease assets $ 502.8 Other current liabilities $ 116.1 Non-current operating lease liabilities 468.5 Total operating lease liabilities $ 584.6 Finance Leases Property and equipment, gross $ 51.7 Accumulated depreciation (31.8 ) Property and equipment, net $ 19.9 Other current liabilities $ 9.9 Other non-current liabilities 8.3 Total finance lease liabilities $ 18.2 Weighted Average Remaining Lease Term Operating leases 6.0 years Finance leases 3.0 years Weighted Average Discount Rate Operating leases 5.9 % Finance leases 4.9 %
Maturities of Lease Liabilities	Maturities of lease liabilities are as follows (in millions): Operating Leases Finance Leases 2019 $ 38.3 $ 9.7 2020 142.5 6.5 2021 116.6 2.4 2022 101.2 0.4 2023 85.3 — Thereafter 215.8 — Total lease payments 699.7 19.0 Less imputed interest 115.1 0.8 Total $ 584.6 $ 18.2
Maturities of Lease Liabilities	Maturities of lease liabilities are as follows (in millions): Operating Leases Finance Leases 2019 $ 38.3 $ 9.7 2020 142.5 6.5 2021 116.6 2.4 2022 101.2 0.4 2023 85.3 — Thereafter 215.8 — Total lease payments 699.7 19.0 Less imputed interest 115.1 0.8 Total $ 584.6 $ 18.2
Lease Obligations Under Topic 840	As of December 31, 2018, the obligations for operating and capital leases are as summarized below (in millions): Operating Leases Capital Leases 2019 $ 152.9 $ 9.3 2020 139.3 6.4 2021 112.8 2.3 2022 96.3 0.4 2023 80.4 — Thereafter 210.2 — Total lease payments $ 791.9 $ 18.4
Lease Obligations Under Topic 840	As of December 31, 2018, the obligations for operating and capital leases are as summarized below (in millions): Operating Leases Capital Leases 2019 $ 152.9 $ 9.3 2020 139.3 6.4 2021 112.8 2.3 2022 96.3 0.4 2023 80.4 — Thereafter 210.2 — Total lease payments $ 791.9 $ 18.4

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Recurring Fair Value Measurements	The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2019 and December 31, 2018 (in millions): As of September 30, 2019 Total Level 1 Level 2 Level 3 Assets Cash equivalents - money market funds $ 52.0 $ 52.0 $ — $ — Deferred compensation plan assets 53.1 53.1 — — Foreign currency forward contracts 1.8 — 1.8 — Deferred purchase price receivable 144.2 — — 144.2 Total $ 251.1 $ 105.1 $ 1.8 $ 144.2 Liabilities Deferred compensation plan liabilities $ 49.7 $ 49.7 $ — $ — Foreign currency forward contracts 0.7 — 0.7 — Interest rate swap agreements 119.6 — 119.6 — Earn-out liabilities 15.0 — — 15.0 Total $ 185.0 $ 49.7 $ 120.3 $ 15.0 As of December 31, 2018 Total Level 1 Level 2 Level 3 Assets Cash equivalents - money market funds $ 173.5 $ 173.5 $ — $ — Deferred compensation plan assets 48.8 48.8 — — Foreign currency forward contracts 0.5 — 0.5 — Deferred purchase price receivable 140.1 — — 140.1 Total $ 362.9 $ 222.3 $ 0.5 $ 140.1 Liabilities Deferred compensation plan liabilities $ 47.7 $ 47.7 $ — $ — Foreign currency forward contracts 0.8 — 0.8 — Interest rate swap agreements 25.1 — 25.1 — Earn-out liabilities 38.3 — — 38.3 Total $ 111.9 $ 47.7 $ 25.9 $ 38.3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The table below presents a reconciliation of liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in millions): Earn-out Liabilities 2019 2018 Balance as of January 1, $ 38.3 $ 51.3 Purchases/additions — 2.0 Net change in fair value and other adjustments (0.2 ) 2.9 Payments (23.1 ) (22.3 ) Balance as of September 30, $ 15.0 $ 33.9 Earn-out Liabilities 2019 2018 Balance as of July 1, $ 25.1 $ 43.5 Purchases/additions — 2.0 Net change in fair value and other adjustments (0.3 ) 2.7 Payments (9.8 ) (14.3 ) Balance as of September 30, $ 15.0 $ 33.9

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2019
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Information	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the unaudited Condensed Consolidated Balance Sheets to the sum of such amounts presented in the unaudited Condensed Consolidated Statements of Cash Flows (in millions): Nine Months Ended September 30, 2019 2018 Cash and cash equivalents, beginning of period $ 895.3 $ 405.6 Restricted cash recorded in Prepaid expenses and other current assets, beginning of period 70.1 62.3 Total cash, cash equivalents and restricted cash shown in the statements of cash flows, beginning of period $ 965.4 $ 467.9 Cash and cash equivalents, end of period $ 400.1 $ 939.0 Restricted cash recorded in Prepaid expenses and other current assets, end of period 69.4 58.2 Total cash, cash equivalents and restricted cash shown in the statements of cash flows, end of period $ 469.5 $ 997.2 Supplemental cash flows and non-cash investing and financing activities are as follows (in millions): Nine Months Ended September 30, 2019 2018 Cash paid for: Interest $ 115.3 $ 144.9 Income taxes 48.7 41.2 Non-cash investing/financing activities: Property and equipment acquired through capital leases 8.0 4.1 Deferred and contingent acquisition payment obligations 12.3 8.6 Increase in beneficial interest in a securitization 4.1 5.1

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)	$ 11.7	$ (41.4)	$ (2.9)	$ (167.8)
Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)		$ 7.3		$ 5.1
Loss per share attributable to common shareholders (in dollars per share)		$ 0.04		$ 0.03

Segment Data - Schedule of summ

Segment Data - Schedule of summarized financial information by segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Total revenue	$ 2,118.8	$ 2,076	$ 6,143.5	$ 5,818
Less: Gross contract costs	(569.4)	(567.5)	(1,646)	(1,621.6)
Contract Costs, Gross	(569.4)	(567.5)	(1,646)	(1,621.6)
Total Fee-based operating expenses	1,512.4	1,487.9	4,433.3	4,227
Adjusted EBITDA	168.5	179	431.4	423.6
Americas
Segment Reporting Information [Line Items]
Total revenue	1,512.8	1,475.6	4,353.3	4,053.9
EMEA
Segment Reporting Information [Line Items]
Total revenue	235.5	226.9	667	650.9
APAC
Segment Reporting Information [Line Items]
Total revenue	370.5	373.5	1,123.2	1,113.2
Operating segments
Segment Reporting Information [Line Items]
Total Fee-based operating expenses	1,382	1,329.6	4,071.3	3,779.2
Operating segments | Americas
Segment Reporting Information [Line Items]
Total revenue	1,512.8	1,475.6	4,353.3	4,053.9
Less: Gross contract costs	(430.4)	(424.9)	(1,252.7)	(1,164.2)
Acquisition Accounting Adjustment	0	0	0	(2.5)
Fee revenue	1,082.4	1,050.7	3,100.6	2,892.2
Segment operating expenses	1,387.5	1,346.6	4,035.2	3,742.1
Contract Costs, Gross	(430.4)	(424.9)	(1,252.7)	(1,164.2)
Total Fee-based operating expenses	957.1	921.7	2,782.5	2,577.9
Adjusted EBITDA	125.2	128.8	318	314.2
Operating segments | EMEA
Segment Reporting Information [Line Items]
Total revenue	235.5	226.9	667	650.9
Less: Gross contract costs	(26.4)	(15.4)	(68.1)	(76.4)
Fee revenue	209.1	211.5	598.9	574.5
Segment operating expenses	216.4	198.3	635.3	613.5
Contract Costs, Gross	(26.4)	(15.4)	(68.1)	(76.4)
Total Fee-based operating expenses	190	182.9	567.2	537.1
Adjusted EBITDA	20.3	29	35.5	40.5
Operating segments | APAC
Segment Reporting Information [Line Items]
Total revenue	370.5	373.5	1,123.2	1,113.2
Less: Gross contract costs	(112.6)	(127.2)	(325.2)	(381)
Fee revenue	257.9	246.3	798	732.2
Segment operating expenses	347.5	352.2	1,046.8	1,045.2
Contract Costs, Gross	(112.6)	(127.2)	(325.2)	(381)
Total Fee-based operating expenses	234.9	225	721.6	664.2
Adjusted EBITDA	23	21.2	77.9	68.9
Operating segments | Property, facilities and project management | Americas
Segment Reporting Information [Line Items]
Fee revenue	480.8	427.4	1,428.4	1,257.8
Operating segments | Property, facilities and project management | EMEA
Segment Reporting Information [Line Items]
Fee revenue	71.4	60	214.7	178.1
Operating segments | Property, facilities and project management | APAC
Segment Reporting Information [Line Items]
Fee revenue	170.9	165	526.6	488.6
Operating segments | Leasing | Americas
Segment Reporting Information [Line Items]
Fee revenue	372.3	410.7	1,056.1	1,031
Operating segments | Leasing | EMEA
Segment Reporting Information [Line Items]
Fee revenue	55.6	67.2	161.3	173.9
Operating segments | Leasing | APAC
Segment Reporting Information [Line Items]
Fee revenue	42.6	41.4	115.1	110.4
Operating segments | Capital markets | Americas
Segment Reporting Information [Line Items]
Fee revenue	181.6	177.3	492	491.3
Operating segments | Capital markets | EMEA
Segment Reporting Information [Line Items]
Fee revenue	41.6	40	101.1	98.5
Operating segments | Capital markets | APAC
Segment Reporting Information [Line Items]
Fee revenue	14.8	16.5	71.8	59.1
Operating segments | Valuation and other | Americas
Segment Reporting Information [Line Items]
Fee revenue	47.7	35.3	124.1	112.1
Operating segments | Valuation and other | EMEA
Segment Reporting Information [Line Items]
Fee revenue	40.5	44.3	121.8	124
Operating segments | Valuation and other | APAC
Segment Reporting Information [Line Items]
Fee revenue	$ 29.6	$ 23.4	$ 84.5	$ 74.1

Segment Data - Schedule of adju

Segment Data - Schedule of adjusted EBITDA (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting [Abstract]
Net income (loss)	$ 11.7	$ (41.4)	$ (2.9)	$ (167.8)
Depreciation and amortization	75	71.6	222.8	213
Interest expense, net of interest income	37.4	92.7	112.8	189.1
Benefit from income taxes	(11)	(30.6)	(40.5)	(48)
Integration and other costs related to merger	29.9	64.7	74.1	173.9
Pre-IPO stock-based compensation	11.4	8	33.6	25
Cassidy Turley deferred payment obligation	0	11	0	30.8
Acquisition related costs and other efficiency initiatives	8	0	17.7	0
Other	6.1	3	13.8	7.6
Adjusted EBITDA	$ 168.5	$ 179	$ 431.4	$ 423.6

Segment Data - Schedule of reco

Segment Data - Schedule of reconciliation of total costs and expenses to Fee-based operating expenses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting [Abstract]
Total costs and expenses	$ 2,081.8	$ 2,055.4	$ 6,079.3	$ 5,848.6
Less: Gross contract costs	(569.4)	(567.5)	(1,646)	(1,621.6)
Total Fee-based operating expenses	$ 1,512.4	$ 1,487.9	$ 4,433.3	$ 4,227

Segment Data - Schedule of re_2

Segment Data - Schedule of reconciliation of Fee-based operating expenses by segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Fee-based operating expenses	$ 1,512.4	$ 1,487.9	$ 4,433.3	$ 4,227
Depreciation and amortization	75	71.6	222.8	213
Integration and other costs related to merger	29.9	64.7	74.1	171.4
Pre-IPO stock-based compensation	11.4	8	33.6	25
Cassidy Turley deferred payment obligation	0	11	0	30.8
Acquisition related costs and other efficiency initiatives	8	0	17.7	0
Other	6.1	3	13.8	7.6
Operating segments
Segment Reporting Information [Line Items]
Fee-based operating expenses	1,382	1,329.6	4,071.3	3,779.2
Operating segments | Americas
Segment Reporting Information [Line Items]
Fee-based operating expenses	957.1	921.7	2,782.5	2,577.9
Operating segments | EMEA
Segment Reporting Information [Line Items]
Fee-based operating expenses	190	182.9	567.2	537.1
Operating segments | APAC
Segment Reporting Information [Line Items]
Fee-based operating expenses	$ 234.9	$ 225	$ 721.6	$ 664.2

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Potentially dilutive securities not included in computation (in shares)	13	7.2	11.8

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss) attributable to shareholders	$ 11.7	$ (41.4)	$ (2.9)	$ (167.8)
Weighted average shares outstanding for basic earnings (loss) per share (in shares)	218	184	217.2	158.5
Earnings (loss) per share attributable to common shareholders, basic (in dollars per share)	$ 0.05	$ (0.23)	$ (0.01)	$ (1.06)
Weighted average shares outstanding for diluted earnings (loss) per share (in shares)	224.5	184	217.2	158.5
Earnings (loss) per share attributable to common shareholders, diluted (in dollars per share)	$ 0.05	$ (0.23)	$ (0.01)	$ (1.06)
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive effect (in shares)	5	0	0	0
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Dilutive effect (in shares)	1.5	0	0	0

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract with customer, liability	$ 50.3	$ 66.8
Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new revenue accounting standard			$ 35.9
Prepaid expenses and other current assets
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract assets	307.3	160.6
Other non-current assets
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract assets	$ 13.3	$ 25.8
Accumulated Deficit | Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new revenue accounting standard			35.9
Accumulated Deficit | Adoption Impact | Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of new revenue accounting standard			$ 35.9

Revenue - Disaggregation of rev

Revenue - Disaggregation of revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue	$ 2,118.8	$ 2,076	$ 6,143.5	$ 5,818
Americas
Disaggregation of Revenue [Line Items]
Revenue	1,512.8	1,475.6	4,353.3	4,053.9
EMEA
Disaggregation of Revenue [Line Items]
Revenue	235.5	226.9	667	650.9
APAC
Disaggregation of Revenue [Line Items]
Revenue	370.5	373.5	1,123.2	1,113.2
Property, facilities and project management | Over time
Disaggregation of Revenue [Line Items]
Revenue	1,286.1	1,216.5	3,799.8	3,534.2
Property, facilities and project management | Americas | Over time
Disaggregation of Revenue [Line Items]
Revenue	906.1	849.3	2,667.9	2,412
Property, facilities and project management | EMEA | Over time
Disaggregation of Revenue [Line Items]
Revenue	96.6	75	280.3	252.6
Property, facilities and project management | APAC | Over time
Disaggregation of Revenue [Line Items]
Revenue	283.4	292.2	851.6	869.6
Leasing | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	474.2	522	1,341.7	1,319.5
Leasing | Americas | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	375.6	413.1	1,064.7	1,034.6
Leasing | EMEA | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	56	67.5	161.9	174.5
Leasing | APAC | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	42.6	41.4	115.1	110.4
Capital markets | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	239.3	234.3	667.9	650.4
Capital markets | Americas | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	182.8	177.8	494.8	492.8
Capital markets | EMEA | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	41.7	40	101.3	98.5
Capital markets | APAC | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	14.8	16.5	71.8	59.1
Valuation and other | At a point in time or over time
Disaggregation of Revenue [Line Items]
Revenue	119.2	103.2	334.1	313.9
Valuation and other | Americas | At a point in time or over time
Disaggregation of Revenue [Line Items]
Revenue	48.3	35.4	125.9	114.5
Valuation and other | EMEA | At a point in time or over time
Disaggregation of Revenue [Line Items]
Revenue	41.2	44.4	123.5	125.3
Valuation and other | APAC | At a point in time or over time
Disaggregation of Revenue [Line Items]
Revenue	$ 29.7	$ 23.4	$ 84.7	$ 74.1

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of Goodwill (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Goodwill [Roll Forward]
Balance as of December 31, 2018	$ 1,778.5
Acquisitions	173
Measurement period adjustments	(0.4)
Effect of movements in exchange rates and other	(20.4)
Balance as of September 30, 2019	1,930.7
Americas
Goodwill [Roll Forward]
Balance as of December 31, 2018	1,254.4
Acquisitions	160.3
Measurement period adjustments	(0.7)
Effect of movements in exchange rates and other	2
Balance as of September 30, 2019	1,416
EMEA
Goodwill [Roll Forward]
Balance as of December 31, 2018	266.1
Acquisitions	0
Measurement period adjustments	0
Effect of movements in exchange rates and other	(10.8)
Balance as of September 30, 2019	255.3
APAC
Goodwill [Roll Forward]
Balance as of December 31, 2018	258
Acquisitions	12.7
Measurement period adjustments	0.3
Effect of movements in exchange rates and other	(11.6)
Balance as of September 30, 2019	$ 259.4

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment charges of goodwill	$ 0	$ 0	$ 0	$ 0
Impairment charges of intangible assets	0	0	0	0
Amortization expense	$ 47,300,000	$ 46,200,000	$ 142,600,000	$ 139,300,000

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Indefinite-lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 47.3	$ 46.2	$ 142.6	$ 139.3
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, accumulated amortization	(774.7)		(774.7)		$ (650.3)
Gross Value	1,868.3		1,868.3		1,778.5
Accumulated Amortization	(774.7)		(774.7)		(650.3)
Net Value	1,093.6		1,093.6		1,128.2
C&W trade name
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	546		546		546
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	1,307.8		1,307.8		1,199.7
Finite-lived intangible assets, accumulated amortization	(769.3)		(769.3)		(637.1)
Finite-lived intangible assets, net value	538.5		538.5		562.6
Accumulated Amortization	(769.3)		$ (769.3)		$ (637.1)
Customer relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)			15 years		15 years
Customer relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)			1 year		1 year
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross	14.5		$ 14.5		$ 32.8
Finite-lived intangible assets, accumulated amortization	(5.4)		(5.4)		(13.2)
Finite-lived intangible assets, net value	9.1		9.1		19.6
Accumulated Amortization	$ (5.4)		$ (5.4)		$ (13.2)
Other intangible assets | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)			13 years		13 years
Other intangible assets | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)			2 years		2 years

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Narrative (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)derivative_instrument	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)derivative_instrument	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)derivative_instrument
Derivative [Line Items]
Interest expense, net of interest income	$ 37,400,000	$ 92,700,000	$ 112,800,000	$ 189,100,000
Operating, administrative and other	$ 315,200,000	297,600,000	908,900,000	905,800,000
Designated
Derivative [Line Items]
Pre-tax gain (loss) included in accumulated other comprehensive loss for interest rate derivatives			(91,700,000)
Pre-tax gain (loss) included in accumulated other comprehensive loss for interest rate derivatives					$ 16,500,000
Pre-tax losses reclassified during the next twelve months			$ 7,100,000
Designated | Interest rate hedge
Derivative [Line Items]
Number of derivative instruments held | derivative_instrument	5		5
Non-Designated | Foreign currency forward contracts
Derivative [Line Items]
Number of derivative instruments held | derivative_instrument	22		22		23
Gain (loss) on derivative instruments	$ 1,600,000	0	$ 1,500,000	1,100,000
Notional amount	407,800,000		407,800,000		$ 406,600,000
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Hedging (Losses) Gains | Interest rate hedge
Derivative [Line Items]
Interest expense, net of interest income	$ 1,900,000	2,500,000	$ 7,400,000	8,900,000
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Hedging (Losses) Gains | Foreign currency hedge
Derivative [Line Items]
Interest expense, net of interest income		(100,000)
Operating, administrative and other		$ 1,000,000		$ 5,300,000

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Schedule of Fair Value of Derivatives (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Non-Designated | Foreign currency forward contracts
Derivative [Line Items]
Notional	$ 407,800,000	$ 406,600,000
Cash Flow Hedging | Designated | Interest rate swaps
Derivative [Line Items]
Notional	2,050,000,000
Other non-current assets | Non-Designated | Foreign currency forward contracts
Derivative [Line Items]
Assets fair value	1,800,000	500,000
Other non-current assets | Cash Flow Hedging | Designated | Interest rate swaps
Derivative [Line Items]
Assets fair value	0	0
Other non-current liabilities | Non-Designated | Foreign currency forward contracts
Derivative [Line Items]
Liabilities fair value	700,000	800,000
Other non-current liabilities | Cash Flow Hedging | Designated | Interest rate swaps
Derivative [Line Items]
Liabilities fair value	$ 119,600,000	$ 25,100,000

Derivative Financial Instrume_5

Derivative Financial Instruments and Hedging Activities - Schedule of Effect of Derivatives As Hedges, Net of Applicable Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Accumulated Other Comprehensive Loss (Gain)	$ (1,288)	$ (436.8)	$ (1,360.1)	$ (499.4)
Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives	26.6	(7.6)	105.9	(38.6)
Ending Accumulated Other Comprehensive Loss (Gain)	(1,234.2)	(1,403.2)	(1,234.2)	(1,403.2)
Interest expense, net of interest income	(37.4)	(92.7)	(112.8)	(189.1)
Operating, administrative and other	315.2	297.6	908.9	905.8
Unrealized Hedging (Losses) Gains
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Accumulated Other Comprehensive Loss (Gain)	69.4		(13.9)
Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives	26.6		105.9
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Statement of Operations	1.1		5.1
Ending Accumulated Other Comprehensive Loss (Gain)	97.1		97.1
Amount of loss (gain) recognized, tax expense (benefit)	0		5.1
Amount of loss (gain) reclassified, tax benefit (expense)	(0.8)		(2.3)
Unrealized Hedging (Losses) Gains
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Accumulated Other Comprehensive Loss (Gain)		(41.2)		(19.6)
Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives		(7.6)		(38.6)
Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives		(7.6)		(38.6)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Statement of Operations		3		12.4
Ending Accumulated Other Comprehensive Loss (Gain)		(45.8)		(45.8)
Amount of loss (gain) recognized, tax expense (benefit)		1.4		7.1
Amount of loss (gain) reclassified, tax benefit (expense)		(0.4)		(1.8)
Cash Flow Hedging | Unrealized Hedging (Losses) Gains | Foreign currency hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Accumulated Other Comprehensive Loss (Gain)	0		0
Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives	0		0
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Statement of Operations	0		0
Ending Accumulated Other Comprehensive Loss (Gain)	0		0
Cash Flow Hedging | Unrealized Hedging (Losses) Gains | Interest rate hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Accumulated Other Comprehensive Loss (Gain)	70		(13.3)
Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives	26.6		105.9
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Statement of Operations	1.1		5.1
Ending Accumulated Other Comprehensive Loss (Gain)	97.7		97.7
Cash Flow Hedging | Unrealized Hedging (Losses) Gains | Foreign currency hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Accumulated Other Comprehensive Loss (Gain)		1.5		2.2
Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives		(2.5)		(7.3)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Statement of Operations		1		5.1
Ending Accumulated Other Comprehensive Loss (Gain)		0		0
Cash Flow Hedging | Unrealized Hedging (Losses) Gains | Interest rate hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Accumulated Other Comprehensive Loss (Gain)		(42.3)		(22.5)
Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives		(5.2)		(30.3)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Statement of Operations		2		7.3
Ending Accumulated Other Comprehensive Loss (Gain)		(45.5)		(45.5)
Net Investment Hedging | Unrealized Hedging (Losses) Gains | Foreign currency hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Accumulated Other Comprehensive Loss (Gain)	(0.6)		(0.6)
Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives	0		0
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Statement of Operations	0		0
Ending Accumulated Other Comprehensive Loss (Gain)	(0.6)		(0.6)
Net Investment Hedging | Unrealized Hedging (Losses) Gains | Foreign currency hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Accumulated Other Comprehensive Loss (Gain)		(0.4)		0.7
Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives		0.1		(1)
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Statement of Operations		0		0
Ending Accumulated Other Comprehensive Loss (Gain)		(0.3)		(0.3)
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Hedging (Losses) Gains | Interest rate hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Interest expense, net of interest income	$ (1.9)	(2.5)	$ (7.4)	(8.9)
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Hedging (Losses) Gains | Foreign currency hedge
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Interest expense, net of interest income		0.1
Operating, administrative and other		$ 1		$ 5.3

Long-term Debt and Other Borr_3

Long-term Debt and Other Borrowings - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total long-term debt	$ 2,662.2	$ 2,681.2
Capital lease liability	18.2
Capital lease liability		19.5
Less current portion	(36.9)
Less current portion		(37)
Total non-current long-term debt	2,625.3
Total non-current long-term debt		2,644.2
Secured Debt | 2018 First Lien Loan
Debt Instrument [Line Items]
Unamortized discount and issuance costs	29.3	31.9
Total long-term debt	2,643.7	2,661.3
Notes payable to former stockholders
Debt Instrument [Line Items]
Total long-term debt	$ 0.3	$ 0.4

Long-term Debt and Other Borr_4

Long-term Debt and Other Borrowings - Narrative (Details)	Aug. 21, 2018USD ($)	Sep. 30, 2019USD ($)
Debt Instrument [Line Items]
Proceeds from debt, net of stated discount and debt issuance costs	$ 2,700,000,000
2018 Credit Agreement
Debt Instrument [Line Items]
Debt instrument, face amount	3,500,000,000
Quarterly principal payment, percentage		0.25%
Secured Debt | 2018 First Lien Loan
Debt Instrument [Line Items]
Debt instrument, face amount	2,700,000,000
Stated discount, amount	13,500,000
Debt issuance costs, amount	20,600,000
Effective interest rate		5.50%
Net leverage ratio		5.80
Line of Credit | 2018 Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, face amount	$ 810,000,000
Line of Credit | First Lien Loan | Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding funds drawn		$ 0
LIBOR | 2018 Credit Agreement
Debt Instrument [Line Items]
Basis spread on variable rate		3.25%

Stock-based Payments - Summary

Stock-based Payments - Summary of Time-based Stock Options (Details) - Time-Based Options - $ / shares shares in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Number of Options
Outstanding, beginning balance (in shares)	3.3
Exercised (in shares)	(0.5)
Forfeited (in shares)	(0.1)
Outstanding, ending balance (in shares)	2.7	3.3
Exercisable (in shares)	1.8
Weighted Average Exercise Price per Share
Outstanding, beginning balance (USD per share)	$ 11.23
Exercised (USD per share)	10.04
Forfeited (USD per share)	11.19
Outstanding, ending balance (USD per share)	11.47	$ 11.23
Weighted average exercise price per share, exercisable (USD per share)	$ 10.63
Weighted average remaining contractual term, outstanding	6 years 1 month 6 days	6 years 9 months 18 days
Weighted average remaining contractual term, exercisable	5 years 11 months 8 days

Stock-based Payments - Narrativ

Stock-based Payments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 11.4	$ 8	$ 33.6	$ 25
Time-Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	1.4	1.5	3.9	4.5
Unrecognized compensation cost related to non-vested time-based option awards	1.9		1.9
Performance-Based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	2.7	$ 0	8.2	$ 0
Unrecognized compensation cost related to non-vested time-based option awards	$ 2.8		$ 2.8

Stock-based Payments - Summar_2

Stock-based Payments - Summary of Performance-Based Options (Details) - Performance-Based Options - $ / shares shares in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Number of Options
Outstanding, beginning balance (in shares)	1.5
Forfeited (in shares)	(0.1)
Outstanding, ending balance (in shares)	1.4	1.5
Exercisable (in shares)	0
Weighted Average Exercise Price per Share
Outstanding, beginning balance (USD per share)	$ 11.48
Forfeited (USD per share)	10.87
Outstanding, ending balance (USD per share)	11.64	$ 11.48
Weighted average exercise price per share, exercisable (USD per share)	$ 0
Weighted average remaining contractual term, outstanding	6 years 2 months 12 days	6 years 10 months 25 days
Weighted average remaining contractual term, exercisable	0 years

Stock-based Payments - Summar_3

Stock-based Payments - Summary of Restricted Stock Units (Details) shares in Millions	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Co-Investment RSUs
Number of RSUs
Unvested, begining balance (in shares) | shares	0.6
Granted (in shares) | shares	0
Vested (in shares) | shares	(0.6)
Forfeited (in shares) | shares	0
Unvested, ending balance (in shares) | shares	0
Weighted Average Fair Value Per Share
Unvested, beginning balance (USD per share) | $ / shares	$ 11.50
Granted (USD per share) | $ / shares	0
Vested (USD per share) | $ / shares	11.34
Forfeited (USD per share) | $ / shares	17
Unvested, ending balance (USD per share) | $ / shares	$ 14.41
Time-Based RSUs
Number of RSUs
Unvested, begining balance (in shares) | shares	7.8
Granted (in shares) | shares	1.9
Vested (in shares) | shares	(3.1)
Forfeited (in shares) | shares	(0.1)
Unvested, ending balance (in shares) | shares	6.5
Weighted Average Fair Value Per Share
Unvested, beginning balance (USD per share) | $ / shares	$ 14.63
Granted (USD per share) | $ / shares	17.78
Vested (USD per share) | $ / shares	14.11
Forfeited (USD per share) | $ / shares	16.47
Unvested, ending balance (USD per share) | $ / shares	$ 15.80
Performance-Based RSUs
Number of RSUs
Unvested, begining balance (in shares) | shares	0.7
Granted (in shares) | shares	0.4
Vested (in shares) | shares	0
Forfeited (in shares) | shares	0
Unvested, ending balance (in shares) | shares	1.1
Weighted Average Fair Value Per Share
Unvested, beginning balance (USD per share) | $ / shares	$ 15.94
Granted (USD per share) | $ / shares	19.64
Vested (USD per share) | $ / shares	0
Forfeited (USD per share) | $ / shares	0
Unvested, ending balance (USD per share) | $ / shares	$ 17.08

Stock-based Payments - Summar_4

Stock-based Payments - Summary of RSU Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 11.4	$ 8	$ 33.6	$ 25
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	12.1	8.5	34.1	26.8
Unrecognized compensation expense related to RSUs	70		70
Time-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	11.4	7.6	32.5	21.4
Unrecognized compensation expense related to RSUs	64.3		64.3
Co-Investment RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	0.1	0.1	0.3	0.5
Unrecognized compensation expense related to RSUs	0.2		0.2
Performance-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	0.6	0	1.3	0
Unrecognized compensation expense related to RSUs	5.5		5.5
Restricted Stock Units (RSUs), Equity Classification
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	12.1	7.7	34.1	21.9
Unrecognized compensation expense related to RSUs	70		70
Restricted Stock Units (RSUs), Liability Classification
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	0	$ 0.8	0	$ 4.9
Unrecognized compensation expense related to RSUs	$ 0		$ 0

Leases - Components of lease co

Leases - Components of lease cost (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 38.5	$ 115.9
Finance lease cost:
Amortization of assets	3.3	8
Interest on lease liabilities	0.3	0.5
Total finance lease cost	3.6	8.5
Variable lease cost	9	22.6
Sublease income	$ 3	$ 9.2

Leases - Supplemental balance s

Leases - Supplemental balance sheet information (Details) $ in Millions	Sep. 30, 2019USD ($)
Operating Leases
Non-current operating lease assets	$ 502.8
Other current liabilities	116.1
Non-current operating lease liabilities	468.5
Total operating lease liabilities	584.6
Finance Leases
Property and equipment, gross	51.7
Accumulated depreciation	(31.8)
Property and equipment, net	19.9
Other current liabilities	9.9
Other non-current liabilities	8.3
Total finance lease liabilities	$ 18.2
Weighted Average Remaining Lease Term
Operating leases	6 years
Finance leases	3 years
Weighted Average Discount Rate
Operating leases	5.90%
Finance leases	4.90%

Leases - Supplemental cash flow

Leases - Supplemental cash flow information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Cash paid for amounts used in the measurement of lease liabilities:
Operating cash flows used in operating leases	$ 118.6
Operating cash flows used in finance leases	0.5
Assets obtained in exchange for lease obligations:
Operating leases	46.5
Finance leases	$ 8

Leases - Maturities of lease li

Leases - Maturities of lease liabilities (Details) $ in Millions	Sep. 30, 2019USD ($)
Operating Leases
2019	$ 38.3
2020	142.5
2021	116.6
2022	101.2
2023	85.3
Thereafter	215.8
Total lease payments	699.7
Less imputed interest	115.1
Total	584.6
Finance Leases
2019	9.7
2020	6.5
2021	2.4
2022	0.4
2023	0
Thereafter	0
Total lease payments	19
Less imputed interest	0.8
Total	18.2
Operating Leased Assets [Line Items]
Operating leases not yet commenced	$ 20
Minimum
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract	3 years
Maximum
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract	12 years

Leases - Lease obligations unde

Leases - Lease obligations under Topic 840 (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Dec. 31, 2018
Leases [Abstract]
Net rent expense	$ 31	$ 99.8
Sublease income	$ 4.6	$ 18.6
Operating Leases
2019			$ 152.9
2020			139.3
2021			112.8
2022			96.3
2023			80.4
Thereafter			210.2
Total lease payments			791.9
Capital Leases
2019			9.3
2020			6.4
2021			2.3
2022			0.4
2023			0
Thereafter			0
Total lease payments			18.4
Future minimum sublease rental income			58.9
Interest charges			$ 1.1

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Loss Contingencies [Line Items]
Closed-ended terms for guarantees	8 years
Maximum potential future payments on guarantees	$ 39.6
Contingent liabilities, current	82	$ 69.5
Contingent liabilities, non-current	23.7	23.4
Errors and Omissions (E&O) claims and other claims
Loss Contingencies [Line Items]
Contingent liabilities	33.1	32.8
Workers' compensation
Loss Contingencies [Line Items]
Contingent liabilities	72.6	60.1
Insurance recoverable
Loss Contingencies [Line Items]
Loss contingency, receivable	$ 5.2	$ 3.9

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Affiliates
Related Party Transaction [Line Items]
Accounts receivable, related parties, current	$ 34.7	$ 31.7
Accounts receivable, related parties, noncurrent	208.4	214.3
Management advisory services, annual fee | TPG Capital, L.P. and PAG Asia Capital Limited
Related Party Transaction [Line Items]
Transaction advisory fees related to integration and financing activities	$ 4.3
Management advisory services, termination fee | TPG Capital, L.P. and PAG Asia Capital Limited
Related Party Transaction [Line Items]
Transaction advisory fees related to integration and financing activities		$ 11.9

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Billions	Sep. 30, 2019	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Estimated fair value of external debt	$ 2.7	$ 2.6
Gross carrying value of debt	$ 2.7	$ 2.7

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Assets
Cash equivalents - money market funds	$ 52	$ 173.5
Deferred compensation plan assets	53.1	48.8
Deferred purchase price receivable	144.2	140.1
Total	251.1	362.9
Liabilities
Deferred compensation plan liabilities	49.7	47.7
Earn-out liabilities	15	38.3
Total	185	111.9
Level 1
Assets
Cash equivalents - money market funds	52	173.5
Deferred compensation plan assets	53.1	48.8
Deferred purchase price receivable	0	0
Total	105.1	222.3
Liabilities
Deferred compensation plan liabilities	49.7	47.7
Earn-out liabilities	0	0
Total	49.7	47.7
Level 2
Assets
Cash equivalents - money market funds	0	0
Deferred compensation plan assets	0	0
Deferred purchase price receivable	0	0
Total	1.8	0.5
Liabilities
Deferred compensation plan liabilities	0	0
Earn-out liabilities	0	0
Total	120.3	25.9
Level 3
Assets
Cash equivalents - money market funds	0	0
Deferred compensation plan assets	0	0
Deferred purchase price receivable	144.2	140.1
Total	144.2	140.1
Liabilities
Deferred compensation plan liabilities	0	0
Earn-out liabilities	15	38.3
Total	15	38.3
Foreign currency forward contracts
Assets
Derivative asset	1.8	0.5
Liabilities
Derivative liability	0.7	0.8
Foreign currency forward contracts | Level 1
Assets
Derivative asset	0	0
Liabilities
Derivative liability	0	0
Foreign currency forward contracts | Level 2
Assets
Derivative asset	1.8	0.5
Liabilities
Derivative liability	0.7	0.8
Foreign currency forward contracts | Level 3
Assets
Derivative asset	0	0
Liabilities
Derivative liability	0	0
Interest rate swaps
Liabilities
Derivative liability	119.6	25.1
Interest rate swaps | Level 1
Liabilities
Derivative liability	0	0
Interest rate swaps | Level 2
Liabilities
Derivative liability	119.6	25.1
Interest rate swaps | Level 3
Liabilities
Derivative liability	$ 0	$ 0

Fair Value Measurements - Liabi

Fair Value Measurements - Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - Earn-out Liabilities - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 25.1	$ 43.5	$ 38.3	$ 51.3
Purchases/additions	0	2	0	2
Net change in fair value and other adjustments	(0.3)	2.7	(0.2)	2.9
Payments	(9.8)	(14.3)	(23.1)	(22.3)
Ending balance	$ 15	$ 33.9	$ 15	$ 33.9

Accounts Receivable Securitiz_2

Accounts Receivable Securitization - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Aug. 20, 2018	Mar. 08, 2017
Transfers and Servicing [Abstract]
Investment limit						$ 125,000,000	$ 100,000,000
Amount drawn on investment limit	$ 0		$ 0		$ 0
Proceeds from accounts receivable securitization			854,900,000	$ 827,900,000
Cash collection			865,400,000	803,400,000
Outstanding principal on receivables sold under securitization	163,200,000		163,200,000		$ 173,700,000
Accounts receivable securitization, program costs	$ 300,000	$ 1,900,000	$ 1,100,000	$ 4,300,000

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	$ 400.1	$ 895.3	$ 939	$ 405.6
Restricted cash recorded in prepaid expenses and other current assets	69.4	70.1	58.2	62.3
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$ 469.5	$ 965.4	$ 997.2	$ 467.9

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Schedule of Non Cash Investing and Financing Activities (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash paid for:
Interest	$ 115.3	$ 144.9
Income taxes	48.7	41.2
Non-cash investing/financing activities:
Property and equipment acquired through capital leases	8	4.1
Deferred and contingent acquisition payment obligations	12.3	8.6
Increase in beneficial interest in a securitization	$ 4.1	$ 5.1

Uncategorized Items - cwk-20190

Label	Element	Value
Accounting Standards Update 2018-07 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 0
Accounting Standards Update 2018-07 [Member] | Additional Paid-in Capital [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(1,200,000)
Accounting Standards Update 2018-07 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 1,200,000