Cushman & Wakefield (CWK) 10-Q 7 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-38611
Entity Registrant Name	Cushman & Wakefield plc
Entity Central Index Key	0001628369
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Incorporation, State or Country Code	X0
Entity Tax Identification Number	98-1193584
Entity Address, Address Line One	125 Old Broad Street
Entity Address, City or Town	London
Entity Address, Country	GB
Entity Address, Postal Zip Code	EC2N 1AR
City Area Code	44
Local Phone Number	20 3296 3000
Title of 12(b) Security	Ordinary Shares, $0.10 nominal value
Trading Symbol	CWK
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		222,909,932

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,015.6	$ 1,074.8
Trade and other receivables, net of allowance of $77.6 million and $70.9 million, as of March 31, 2021 and December 31, 2020, respectively	1,161.2	1,301.6
Income tax receivable	40.9	43.5
Short-term contract assets	250.4	247.6
Prepaid expenses and other current assets	250.2	223.2
Total current assets	2,718.3	2,890.7
Property and equipment, net	224.1	235.9
Goodwill	2,091.7	2,098
Intangible assets, net	972.7	991.2
Equity method investments	115.8	114.9
Deferred tax assets	60.6	61.4
Non-current operating lease assets	405.7	438.2
Other non-current assets	541.9	507.6
Total assets	7,130.8	7,337.9
Current liabilities:
Short-term borrowings and current portion of long-term debt	40	39.7
Accounts payable and accrued expenses	1,038	1,054.4
Accrued compensation	661.7	720.5
Income tax payable	35.3	45.1
Other current liabilities	203.4	205.8
Total current liabilities	1,978.4	2,065.5
Long-term debt	3,230.5	3,235.7
Deferred tax liabilities	76.1	102.2
Non-current operating lease liabilities	378.9	405.6
Other non-current liabilities	360.1	433.3
Total liabilities	6,024	6,242.3
Commitments and contingencies
Shareholders' Equity:
Ordinary shares, nominal value $0.10 per share, 222.9 and 222.0 shares issued and outstanding at March 31, 2021 and at December 31, 2020, respectively	22.3	22.2
Additional paid-in capital	2,846.5	2,843.4
Accumulated deficit	(1,545.4)	(1,528.2)
Accumulated other comprehensive loss	(217.5)	(242.7)
Total equity attributable to the Company	1,105.9	1,094.7
Non-controlling interests	0.9	0.9
Total equity	1,106.8	1,095.6
Total liabilities and shareholders' equity	$ 7,130.8	$ 7,337.9

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Trade and other receivables, allowance	$ 77.6	$ 70.9
Ordinary shares, nominal value per share (in dollars per share)	$ 0.10	$ 0.10
Ordinary shares issued (in shares)	222.9	222
Ordinary shares outstanding (in shares)	222.9	222

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenue	$ 1,923.8	$ 1,895.4
Costs and expenses:
Cost of services (exclusive of depreciation and amortization)	1,589.5	1,598.8
Operating, administrative and other	280.8	284
Depreciation and amortization	43.1	72
Restructuring, impairment and related charges	17.6	26.1
Total costs and expenses	1,931	1,980.9
Operating loss	(7.2)	(85.5)
Interest expense, net of interest income	(42.4)	(36.5)
Earnings from equity method investments	2.4	1.3
Other income, net	2	39.1
Loss before income taxes	(45.2)	(81.6)
Benefit from income taxes	(28)	(26.5)
Net loss	$ (17.2)	$ (55.1)
Basic and diluted loss per share:
Loss per share attributable to common shareholders (in dollars per share)	$ (0.08)	$ (0.25)
Weighted average shares outstanding for basic and diluted loss per share	222.3	219.9

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net loss	$ (17.2)	$ (55.1)
Other comprehensive income (loss), net of tax:
Designated hedge gains (losses)	36.9	(89.3)
Defined benefit plan actuarial gain	0	2
Foreign currency translation	(11.7)	(66.7)
Total other comprehensive income (loss)	25.2	(154)
Total comprehensive income (loss)	$ 8	$ (209.1)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) shares in Millions, $ in Millions	Total	Total Equity Attributable to the Company	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Unrealized Hedging (Losses) Gains	Foreign Currency Translation	Defined Benefit Plans	Total Accumulated Other Comprehensive Loss, net of tax	Non-Controlling Interests
Beginning balance (in shares) at Dec. 31, 2019			219.5
Beginning balance of total equity at Dec. 31, 2019	$ 1,301.3	$ 1,301.3	$ 22	$ 2,819.1	$ (1,297)	$ (78.4)	$ (158.4)	$ (6)	$ (242.8)	$ 0
Beginning balance of total equity (Accounting Standards Update 2016-13) at Dec. 31, 2019	(10.7)	(10.7)			(10.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	$ (55.1)	(55.1)			(55.1)
Accounting standards update	Accounting Standards Update 2016-13
Acquisition of non-controlling interests	$ 0.2									0.2
Stock-based compensation	11.7	11.7		11.7
Vesting of shares related to equity compensation plans, net amounts withheld for payment of taxes (in shares)			1
Vesting of shares related to equity compensation plans, net amounts withheld for payment of taxes	(9)	(9)	$ 0.1	(9.1)
Foreign currency translation	(66.7)	(66.7)					(66.7)		(66.7)
Defined benefit plans actuarial gain	2	2						2	2
Unrealized (loss) gain on hedging instruments	(85.3)	(85.3)				(85.3)			(85.3)
Amounts reclassified from AOCI to the statement of operations	(4)	(4)				(4)			(4)
Ending balance (in shares) at Mar. 31, 2020			220.5
Ending balance of total equity at Mar. 31, 2020	1,084.4	1,084.2	$ 22.1	2,821.7	(1,362.8)	(167.7)	(225.1)	(4)	(396.8)	0.2
Beginning balance (in shares) at Dec. 31, 2020			222
Beginning balance of total equity at Dec. 31, 2020	1,095.6	1,094.7	$ 22.2	2,843.4	(1,528.2)	(158.3)	(69.4)	(15)	(242.7)	0.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(17.2)	(17.2)			(17.2)
Stock-based compensation	7.2	7.2		7.2
Vesting of shares related to equity compensation plans, net amounts withheld for payment of taxes (in shares)			0.9
Vesting of shares related to equity compensation plans, net amounts withheld for payment of taxes	(4)	(4)	$ 0.1	(4.1)
Foreign currency translation	(11.7)	(11.7)					(11.7)		(11.7)
Defined benefit plans actuarial gain	0
Unrealized (loss) gain on hedging instruments	28.5	28.5				28.5			28.5
Amounts reclassified from AOCI to the statement of operations	8.4	8.4				8.4			8.4
Ending balance (in shares) at Mar. 31, 2021			222.9
Ending balance of total equity at Mar. 31, 2021	$ 1,106.8	$ 1,105.9	$ 22.3	$ 2,846.5	$ (1,545.4)	$ (121.4)	$ (81.1)	$ (15)	$ (217.5)	$ 0.9

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities
Net loss	$ (17.2)	$ (55.1)
Reconciliation of net loss to net cash used in operating activities:
Depreciation and amortization	43.1	72
Impairment charges	7.1	2.8
Unrealized foreign exchange loss	1.5	5.8
Stock-based compensation	7.2	11.9
Lease amortization	27	27.8
Amortization of debt issuance costs	2.3	3.2
Change in deferred taxes	(25.4)	(34)
Provision for loss on receivables and other assets	12.5	4.3
Other non-cash operating activities	(6.1)	(36.9)
Changes in assets and liabilities:
Trade and other receivables	114.2	227.6
Income taxes payable	(14.4)	(14.9)
Short-term contract assets and Prepaid expenses and other current assets	(39.7)	(56)
Other non-current assets	(14.8)	4.3
Accounts payable and accrued expenses	(12.6)	(109.4)
Accrued compensation	(64.5)	(280.8)
Other current and non-current liabilities	(36.6)	(22.5)
Net cash used in operating activities	(16.4)	(249.9)
Cash flows from investing activities
Payment for property and equipment	(12.9)	(9.8)
Acquisitions of businesses, net of cash acquired	0	(102.5)
Investments in equity securities	(15.9)	(11.3)
Other investing activities, net	0	(7.8)
Net cash used in investing activities	(28.8)	(131.4)
Cash flows from financing activities
Shares repurchased for payment of employee taxes on stock awards	(4.8)	(8.9)
Repayment of borrowings	(6.7)	0
Debt issuance costs	0	(11.1)
Payment of finance lease liabilities	(3.3)	(3.6)
Other financing activities, net	1.2	(0.3)
Net cash used in financing activities	(13.6)	(23.9)
Change in cash, cash equivalents and restricted cash	(58.8)	(405.2)
Cash, cash equivalents and restricted cash, beginning of the period	1,164.1	872.3
Effects of exchange rate fluctuations on cash, cash equivalents and restricted cash	(3.5)	(16.5)
Cash, cash equivalents and restricted cash, end of the period	$ 1,101.8	$ 450.6

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and for the three months ended March 31, 2021 and 2020 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, 2020 included in our 2020 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 the Consolidated Financial Statements in the Company's 2020 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 months ended March 31, 2021 are not necessarily indicative of the results of operations to be expected for the year ending December 31, 2021.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
New Accounting Standards	Note 2: New Accounting Standards The Company has adopted the following new accounting standards: Current Expected Credit Loss (CECL) In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (together with all subsequent amendments, (Topic 326)), which replaced the previous U.S. GAAP that required an incurred loss methodology for recognizing credit losses and delayed recognition until it was probable a loss had been incurred. Topic 326 replaced the incurred loss methodology with a methodology that reflects expected credit losses and requires consideration of reasonable and supportable information to estimate credit losses. Trade and other receivables and contract assets are presented on the Consolidated Balance Sheets net of estimated expected credit losses. Upon initial recognition of a receivable or a contract asset, the Company estimates credit losses over the contractual term of the asset and establishes an allowance based on historical experience, current available information and expectations of future economic conditions. The Company mitigates credit loss risk from its trade receivables by assessing customers for creditworthiness, including review of credit ratings, financial position, and historical experience with similar customers within similar geographic regions, where available. Credit risk is limited due to ongoing monitoring, high geographic customer distribution and low concentration of risk. As the risk of loss is determined to be similar based on the credit risk factors, the Company aggregates its trade receivables on a collective basis when assessing estimated credit losses. The Company adopted Topic 326 on January 1, 2020 in accordance with the modified retrospective approach, which resulted in an immaterial cumulative-effect adjustment to the opening balance of Accumulated deficit. Derivatives and Hedging In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This ASU provides temporary optional practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts and is effective through December 31, 2022. In the second quarter of 2020, the Company elected to apply the hedge accounting expedients related to probability of forecasted transactions and the assessments of effectiveness for future LIBOR indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. The application of these expedients preserves the presentation of the derivatives with no impact to the financial statements and related disclosures. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848) , which, among other changes, amends the scope of the recent reference rate reform guidance (ASC 848). New optional expedients allow derivative instruments impacted by changes in the interest rate used for margining, discounting, or contract price alignment (i.e., discount transition) to qualify for certain optional relief. The guidance was effective immediately and the Company applied it retrospectively to January 1, 2020 with no impact to the financial statements and related disclosures. Income Taxes In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740) : Simplifying the Accounting for Income Taxes. The new guidance removes certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income in an interim period, and the recognition of deferred tax liabilities for outside basis differences. The new guidance is effective for public companies for annual reporting periods and interim periods within those annual periods beginning after December 15, 2020, with early adoption permitted. The Company adopted the new guidance effective July 1, 2020, with an immaterial impact to its financial statements and related disclosures.

Segment Data

Segment Data	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Segment Data	Note 3: Segment Data The Company reports its operations through the following segments: (1) Americas, (2) EMEA and (3) APAC. The Americas consists of operations located in the United States, Canada and key markets in Latin America. EMEA includes operations in the U.K., 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. 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. The Company believes that investors find this measure useful in comparing our operating performance to that of other companies in our industry because this measure generally illustrates the underlying performance of the business before integration and other costs related to mergers, pre-IPO stock-based compensation, acquisition related costs and efficiency initiatives, and other items. Adjusted EBITDA also excludes the effects of financings, income tax and the non-cash accounting effects of depreciation and intangible asset amortization. As segment assets are not reported to or used by the CODM to measure business performance or allocate resources, total segment assets and capital expenditures are not presented below. (in millions) Three Months Ended March 31, 2021 2020 % Change Total revenue Americas $ 1,424.9 $ 1,394.8 2 % EMEA 223.9 210.0 7 % APAC 275.0 290.6 (5) % Total revenue $ 1,923.8 $ 1,895.4 1 % Adjusted EBITDA Americas $ 77.8 $ 64.1 21 % EMEA 2.4 (3.4) 171 % APAC 19.5 9.6 103 % Adjusted EBITDA is calculated as follows (in millions): Three Months Ended March 31, 2021 2020 Adjusted EBITDA - Americas $ 77.8 $ 64.1 Adjusted EBITDA - EMEA 2.4 (3.4) Adjusted EBITDA - APAC 19.5 9.6 Add/(less): Depreciation and amortization (43.1) (72.0) Interest expense, net of interest income (42.4) (36.5) Benefit from income taxes 28.0 26.5 Integration and other costs related to merger (16.2) (17.3) Pre-IPO stock-based compensation (1.6) (6.3) Acquisition related costs and efficiency initiatives (40.2) (15.9) Other (1.4) (3.9) Net loss $ (17.2) $ (55.1)

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2021
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 three months ended March 31, 2021 and 2020, 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 for these periods. Potentially dilutive securities of approximately 1.6 million and 3.9 million for the three months ended March 31, 2021 and 2020, respectively, 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 March 31, 2021 2020 Basic and Diluted EPS Net loss attributable to shareholders $ (17.2) $ (55.1) Weighted average shares outstanding for basic and diluted loss per share 222.3 219.9 Basic and diluted loss per share attributable to common shareholders $ (0.08) $ (0.25)

Revenue

Revenue	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Note 5: Revenue 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. As stated in Note 2, the Company adopted Topic 326 on January 1, 2020. Topic 326 replaced the impairment assessment requirement for contract assets with a methodology that reflects expected credit losses. As a result of adopting Topic 326, the Company records contract assets net of expected credit losses which are estimated based on historical experience, current available information and expectations of future economic conditions. The contract asset allowance is recorded in Operating, administrative, and other in the Consolidated Statement of Operations. 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 March 31, 2021 and December 31, 2020, the Company had contract assets of $250.4 million and $247.6 million and $43.1 million and $38.2 million, which were recorded in Short-term contract assets and Other non-current assets, respectively, in the unaudited Condensed Consolidated Balance Sheets. As of March 31, 2021 and December 31, 2020, the Company had contract liabilities of $40.9 million and $42.8 million which were recorded in Accounts payable and accrued expenses in the unaudited Condensed Consolidated Balance Sheets, respectively. Disaggregation of Revenue The following tables disaggregate revenue by reportable segment and service line (in millions): Three Months Ended March 31, 2021 Revenue recognition timing Americas EMEA APAC Total Property, facilities and project management Over time $ 1,030.9 $ 114.0 $ 205.3 $ 1,350.2 Leasing At a point in time 222.8 42.6 29.4 294.8 Capital markets At a point in time 133.8 22.3 10.7 166.8 Valuation and other At a point in time or over time 37.4 45.0 29.6 112.0 Total revenue $ 1,424.9 $ 223.9 $ 275.0 $ 1,923.8 Three Months Ended March 31, 2020 Revenue recognition timing Americas EMEA APAC Total Property, facilities and project management Over time $ 966.3 $ 106.6 $ 228.3 $ 1,301.2 Leasing At a point in time 242.1 40.8 22.8 305.7 Capital markets At a point in time 147.3 21.6 14.0 182.9 Valuation and other At a point in time or over time 39.1 41.0 25.5 105.6 Total revenue $ 1,394.8 $ 210.0 $ 290.6 $ 1,895.4 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	3 Months Ended
	Mar. 31, 2021
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 three months ended March 31, 2021 (in millions): Americas EMEA APAC Total Balance as of December 31, 2020 $ 1,502.2 $ 327.3 $ 268.5 $ 2,098.0 Measurement period adjustments 0.3 0.2 — 0.5 Effect of movements in exchange rates and other 0.8 (3.9) (3.7) (6.8) Balance as of March 31, 2021 $ 1,503.3 $ 323.6 $ 264.8 $ 2,091.7 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 was no impairment of goodwill and other intangible assets for the three months ended March 31, 2021 and 2020. The following tables summarize the carrying amounts and accumulated amortization of intangible assets (in millions): As of March 31, 2021 Useful Life (in years) Gross Value Accumulated Amortization Net Value C&W trade name Indefinite $ 546.0 $ — $ 546.0 Customer relationships 1 - 15 1,387.8 (968.3) 419.5 Other intangible assets 2 - 13 17.4 (10.2) 7.2 Total intangible assets $ 1,951.2 $ (978.5) $ 972.7 As of December 31, 2020 Useful Life (in years) Gross Value Accumulated Amortization Net Value C&W trade name Indefinite $ 546.0 $ — $ 546.0 Customer relationships 1 - 15 1,390.1 (952.9) 437.2 Other intangible assets 2 - 13 17.4 (9.4) 8.0 Total intangible assets $ 1,953.5 $ (962.3) $ 991.2

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2021
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, 2020. Interest Rate Derivative Instruments As of March 31, 2021, 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 March 31, 2021 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 the Statements of Comprehensive Income (Loss) and subsequently reclassifies the change into earnings in the period that the hedged forecasted transaction affects earnings. As of March 31, 2021 and December 31, 2020, there is $120.6 million and $157.0 million in pre-tax losses, 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 $40.4 million will be reclassified to Interest expense in 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 value of these contracts are recorded directly in earnings. There are losses of $0.2 million and $0.4 million for the three months ended March 31, 2021 and 2020, respectively. This activity was included in Other income, net, in the unaudited Condensed Consolidated Statements of Operations. As of March 31, 2021 and December 31, 2020, the Company had 19 and 17 foreign currency exchange forward contracts outstanding, respectively, covering a notional amount of $617.3 million and $611.7 million, respectively. The fair value of forward contracts disclosed above are included in Other current assets and Other current liabilities in the unaudited Condensed Consolidated Balance Sheets as of March 31, 2021 and December 31, 2020. As of March 31, 2021 and December 31, 2020, 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 March 31, 2021 and December 31, 2020 (in millions): March 31, 2021 December 31, 2020 March 31, 2021 Assets Liabilities Assets Liabilities Derivative Instrument Notional Fair Value Fair Value Fair Value Fair Value Designated: Cash flow hedges: Interest rate swaps $ 1,708.3 $ — $ 123.9 $ — $ 163.9 Non-designated: Foreign currency forward contracts 617.3 1.5 0.3 2.5 1.1 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 March 31, 2021 and 2020 (in millions): Beginning Amount of Loss (1) Amount of (Loss) Gain (2) Ending Three Months Ended March 31, 2021 Interest rate cash flow hedges $ 158.9 $ (28.5) $ (9.0) $ 121.4 $ 158.9 $ (28.5) $ (9.0) $ 121.4 Three Months Ended March 31, 2020 Interest rate cash flow hedges $ 79.0 $ 85.3 $ 4.0 $ 168.3 $ 79.0 $ 85.3 $ 4.0 $ 168.3 (1) Amount is net of related income tax (benefit) expense of $0.0 million for the three months ended March 31, 2021 and 2020. (2) Amount is net of related income tax expense of $1.1 million and $0.7 million for the three months ended March 31, 2021 and 2020, respectively. Losses of $7.9 million and gains of $4.7 million were reclassified into earnings during the three months ended March 31, 2021 and 2020, respectively, related to interest rate hedges and were recognized in Interest expense in the unaudited Condensed Consolidated Statements of Operations.

Long-term Debt and Other Borrow

Long-term Debt and Other Borrowings	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 December 31, 2020 Collateralized: 2018 First Lien Loan, net of unamortized discount and issuance costs of $30.9 million and $32.5 million, respectively $ 2,608.7 $ 2,613.7 2020 Senior Secured Notes, net of unamortized issuance costs of $10.3 million and $10.6 million, respectively, due 2028 639.7 639.4 Finance lease liability 18.6 19.0 Notes payable to former stockholders 0.3 0.3 Total long-term debt 3,267.3 3,272.4 Less: current portion (36.8) (36.7) Total non-current long-term debt $ 3,230.5 $ 3,235.7 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 March 31, 2021, the rate is equal to 1-month LIBOR plus 2.75% as a result of the refinancing. The 2018 First Lien Loan matures on August 21, 2025. As of March 31, 2021, the effective interest rate of the 2018 First Lien Loan is 3.2%. 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 On December 20, 2019, the Company amended the Revolver to increase the aggregate principal amount by $210.0 million, incurring an additional $0.5 million in debt transaction costs. As of March 31, 2021, the Company had a total $3.7 billion credit agreement including a $1.0 billion Revolver. The Company’s $1.0 billion Revolver, which matures on August 21, 2023, was undrawn as of March 31, 2021 and December 31, 2020. Debt Refinancing On January 20, 2020, the Company refinanced the aggregate principal amount of its 2018 First Lien Loan, incurring an additional $11.1 million in debt transaction costs. The 2018 First Lien Loan was refinanced under materially the same terms, except that of the applicable margin on the LIBOR for the replacement term loan in respect of the Eurodollar Rate Loans is 2.75% as compared to 3.25%, and for the Base Rate Loans is 1.75% compared to 2.25%. Financial Covenant 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 March 31, 2021 and December 31, 2020. 2020 Senior Secured Notes On May 22, 2020, the Company issued $650.0 million of 6.75% senior secured notes due May 15, 2028 (the "2020 Notes"). Net proceeds from the 2020 Notes were $638.5 million, consisting of a $650.0 million aggregate principal amount less $11.5 million from issuance costs. The 2020 Notes were offered in a private placement exempt from registration under the Securities Act of 1933, as amended. The 2020 Notes bear interest at a fixed rate of 6.75% and yielded an effective interest rate of 6.8% as of March 31, 2021.

Stock-based Payments

Stock-based Payments	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-based Payments	Note 9: Stock-based Payments Restricted Stock Units The following table provides information about the Company’s outstanding restricted stock units ("RSUs") (in millions, except for per share amounts): Time-Based RSUs Performance-Based Number of RSUs Weighted Number of RSUs Weighted Unvested as of December 31, 2020 4.1 $ 15.73 1.5 $ 17.04 Granted 2.7 16.28 1.0 16.28 Vested (1.2) 15.65 — — Forfeited (0.1) 17.07 (0.0) 18.78 Unvested as of March 31, 2021 5.5 $ 16.12 2.5 $ 16.72 The following table summarizes the Company's compensation expense related to RSUs (in millions): Three Months Ended March 31, Unrecognized at March 31, 2021 2021 2020 Time-Based RSUs $ 6.0 $ 10.8 $ 44.8 Performance-Based RSUs 1.2 0.8 22.1 Co-Investment RSUs — 0.1 — Total RSU stock-based compensation cost $ 7.2 $ 11.7 $ 66.9

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring	Note 10: Restructuring In February 2020, the Company announced operating efficiency initiatives primarily consisting of severance and employment-related costs due to reductions in headcount, which were completed in 2020. The Company expects to incur $25.0 million to $35.0 million of incremental charges in 2021 related to expanding these operating efficiency initiatives. The Company recognized restructuring charges of $8.5 million and $23.3 million during the three months ended March 31, 2021 and 2020, respectively, for these operating efficiency initiatives. All charges were classified as Restructuring, impairment and related charges in the unaudited Condensed Consolidated Statements of Operations. The following tables detail the Company’s severance and employment-related restructuring activity (in millions): Severance Pay and Benefits Contract Terminations and Other Costs Total Balance as of December 31, 2020 $ 10.0 $ 0.8 $ 10.8 Restructuring Charges: Americas 2.6 2.7 5.3 EMEA 2.7 — 2.7 APAC 0.5 — 0.5 Total Restructuring Charges 5.8 2.7 8.5 Payments and Other: Americas (2.7) (3.5) (6.2) EMEA (3.4) — (3.4) APAC (0.5) — (0.5) Total Payments and Other (6.6) (3.5) (10.1) Balance as of March 31, 2021 $ 9.2 $ — $ 9.2 Severance Pay and Benefits Contract Terminations and Other Costs Total Balance as of December 31, 2019 $ 1.2 $ — $ 1.2 Restructuring Charges: Americas 12.6 3.4 16.0 EMEA 7.2 — 7.2 APAC 0.1 — 0.1 Total Restructuring Charges 19.9 3.4 23.3 Payments and Other: Americas (3.9) (0.4) (4.3) EMEA — — — APAC — — — Total Payments and Other (3.9) (0.4) (4.3) Balance as of March 31, 2020 $ 17.2 $ 3.0 $ 20.2 As of March 31, 2021 and December 31, 2020, $8.0 million and $8.3 million were recorded as Other current liabilities and $1.2 million and $2.5 million were recorded as Other non-current liabilities, respectively, within the unaudited Condensed Consolidated Balance Sheet.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
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 7.1 years and maximum potential future payments of $51.6 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 March 31, 2021 and December 31, 2020, contingent liabilities recorded within Other current liabilities were $101.7 million and $91.7 million, respectively, and contingent liabilities recorded within Other non-current liabilities were $22.3 million and $21.0 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 March 31, 2021 and December 31, 2020, E&O and other claims were $42.7 million and $39.5 million, respectively, and workers’ compensation liabilities were $81.3 million and $73.2 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 for E&O claims as of March 31, 2021 and December 31, 2020 totaling $6.3 million and $4.6 million, respectively.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Note 12: Related Party Transactions As of March 31, 2021 and December 31, 2020, the Company had receivables from affiliates of $40.9 million and $34.4 million and $196.6 million and $187.8 million that are included in 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	3 Months Ended
	Mar. 31, 2021
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 transfers in or out of Level 1 or Level 2 assets or liabilities for the three months ended March 31, 2021 and 2020. 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, 2020. 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 $3.3 billion and $3.3 billion as of March 31, 2021 and December 31, 2020, 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 $3.3 billion and $3.3 billion as of March 31, 2021 and December 31, 2020, 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 March 31, 2021 and December 31, 2020 (in millions): As of March 31, 2021 Total Level 1 Level 2 Level 3 Assets Cash equivalents - money market funds $ 448.4 $ 448.4 $ — $ — Deferred compensation plan assets 49.4 49.4 — — Foreign currency forward contracts 1.5 — 1.5 — Deferred purchase price receivable 171.9 — — 171.9 Total $ 671.2 $ 497.8 $ 1.5 $ 171.9 Liabilities Deferred compensation plan liabilities $ 44.2 $ 44.2 $ — $ — Foreign currency forward contracts 0.3 — 0.3 — Interest rate swap agreements 123.9 — 123.9 — Earn-out liabilities 20.3 — — 20.3 Total $ 188.7 $ 44.2 $ 124.2 $ 20.3 As of December 31, 2020 Total Level 1 Level 2 Level 3 Assets Cash equivalents - money market funds $ 483.2 $ 483.2 $ — $ — Deferred compensation plan assets 49.5 49.5 — — Foreign currency forward contracts 2.5 — 2.5 — Deferred purchase price receivable 166.3 — — 166.3 Total $ 701.5 $ 532.7 $ 2.5 $ 166.3 Liabilities Deferred compensation plan liabilities $ 48.5 $ 48.5 $ — $ — Foreign currency forward contracts 1.1 — 1.1 — Interest rate swap agreements 163.9 — 163.9 — Earn-out liabilities 21.0 — — 21.0 Total $ 234.5 $ 48.5 $ 165.0 $ 21.0 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 Interest Rate Swap 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 2021 2020 Balance as of January 1, $ 21.0 $ 24.6 Purchases/additions — 12.7 Net change in fair value and other adjustments (0.7) (0.6) Payments — (0.1) Balance as of March 31, $ 20.3 $ 36.6

Accounts Receivable Securitizat

Accounts Receivable Securitization	3 Months Ended
	Mar. 31, 2021
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. The termination date was extended to August 20, 2022 in December 2019. 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 March 31, 2021 and December 31, 2020 the Company had no outstanding balance 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 with 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 three months ended March 31, 2021 and 2020, receivables sold under the A/R securitization were $320.2 million and $299.8 million, respectively, and cash collections from customers on receivables sold were $315.0 million and $307.3 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 March 31, 2021 and December 31, 2020, the outstanding principal on receivables sold under the A/R Securitization were $184.6 million and $179.4 million, respectively. Refer to Note 13: Fair Value Measurements for additional discussion on the fair value of the DPP as of March 31, 2021 and December 31, 2020. The Company did not recognize any material income or loss related to receivables sold for the three months ended March 31, 2021 and 2020. 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 $0.2 million and $0.6 million for the three months ended March 31, 2021 and 2020, 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	3 Months Ended
	Mar. 31, 2021
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): Three Months Ended March 31, 2021 2020 Cash and cash equivalents, beginning of period $ 1,074.8 $ 813.2 Restricted cash recorded in Other current assets, beginning of period 89.3 59.1 Total cash, cash equivalents and restricted cash shown in the statements of cash flows, beginning of period $ 1,164.1 $ 872.3 Cash and cash equivalents, end of period $ 1,015.6 $ 379.5 Restricted cash recorded in Other current assets, end of period 86.2 71.1 Total cash, cash equivalents and restricted cash shown in the statements of cash flows, end of period $ 1,101.8 $ 450.6 Supplemental cash flows and non-cash investing and financing activities are as follows (in millions): Three Months Ended March 31, 2021 2020 Cash paid for: Interest $ 30.5 $ 31.0 Income taxes 11.3 20.0 Operating leases 35.9 37.5 Non-cash investing/financing activities: Property and equipment acquired through capital leases 2.8 2.2 Deferred and contingent acquisition payment obligations — 32.3 Increase (decrease) in beneficial interest in a securitization 5.6 (7.9) Right of use assets acquired through operating leases 7.6 17.6

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 16: Subsequent Events The Company has evaluated subsequent events through May 6, 2021, 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)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
New Accounting Standards	The Company has adopted the following new accounting standards: Current Expected Credit Loss (CECL) In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (together with all subsequent amendments, (Topic 326)), which replaced the previous U.S. GAAP that required an incurred loss methodology for recognizing credit losses and delayed recognition until it was probable a loss had been incurred. Topic 326 replaced the incurred loss methodology with a methodology that reflects expected credit losses and requires consideration of reasonable and supportable information to estimate credit losses. Trade and other receivables and contract assets are presented on the Consolidated Balance Sheets net of estimated expected credit losses. Upon initial recognition of a receivable or a contract asset, the Company estimates credit losses over the contractual term of the asset and establishes an allowance based on historical experience, current available information and expectations of future economic conditions. The Company mitigates credit loss risk from its trade receivables by assessing customers for creditworthiness, including review of credit ratings, financial position, and historical experience with similar customers within similar geographic regions, where available. Credit risk is limited due to ongoing monitoring, high geographic customer distribution and low concentration of risk. As the risk of loss is determined to be similar based on the credit risk factors, the Company aggregates its trade receivables on a collective basis when assessing estimated credit losses. The Company adopted Topic 326 on January 1, 2020 in accordance with the modified retrospective approach, which resulted in an immaterial cumulative-effect adjustment to the opening balance of Accumulated deficit. Derivatives and Hedging In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting . This ASU provides temporary optional practical expedients for reference rate reform related activities that impact debt, leases, derivatives and other contracts and is effective through December 31, 2022. In the second quarter of 2020, the Company elected to apply the hedge accounting expedients related to probability of forecasted transactions and the assessments of effectiveness for future LIBOR indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. The application of these expedients preserves the presentation of the derivatives with no impact to the financial statements and related disclosures. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848) , which, among other changes, amends the scope of the recent reference rate reform guidance (ASC 848). New optional expedients allow derivative instruments impacted by changes in the interest rate used for margining, discounting, or contract price alignment (i.e., discount transition) to qualify for certain optional relief. The guidance was effective immediately and the Company applied it retrospectively to January 1, 2020 with no impact to the financial statements and related disclosures. Income Taxes In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740) : Simplifying the Accounting for Income Taxes. The new guidance removes certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income in an interim period, and the recognition of deferred tax liabilities for outside basis differences. The new guidance is effective for public companies for annual reporting periods and interim periods within those annual periods beginning after December 15, 2020, with early adoption permitted. The Company adopted the new guidance effective July 1, 2020, with an immaterial impact to its financial statements and related disclosures.

Segment Data (Tables)

Segment Data (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Summarized Financial Information by Segment	As segment assets are not reported to or used by the CODM to measure business performance or allocate resources, total segment assets and capital expenditures are not presented below. (in millions) Three Months Ended March 31, 2021 2020 % Change Total revenue Americas $ 1,424.9 $ 1,394.8 2 % EMEA 223.9 210.0 7 % APAC 275.0 290.6 (5) % Total revenue $ 1,923.8 $ 1,895.4 1 % Adjusted EBITDA Americas $ 77.8 $ 64.1 21 % EMEA 2.4 (3.4) 171 % APAC 19.5 9.6 103 %
Schedule of Adjusted EBITDA	Adjusted EBITDA is calculated as follows (in millions): Three Months Ended March 31, 2021 2020 Adjusted EBITDA - Americas $ 77.8 $ 64.1 Adjusted EBITDA - EMEA 2.4 (3.4) Adjusted EBITDA - APAC 19.5 9.6 Add/(less): Depreciation and amortization (43.1) (72.0) Interest expense, net of interest income (42.4) (36.5) Benefit from income taxes 28.0 26.5 Integration and other costs related to merger (16.2) (17.3) Pre-IPO stock-based compensation (1.6) (6.3) Acquisition related costs and efficiency initiatives (40.2) (15.9) Other (1.4) (3.9) Net loss $ (17.2) $ (55.1)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following is a calculation of EPS (in millions, except per share amounts): Three Months Ended March 31, 2021 2020 Basic and Diluted EPS Net loss attributable to shareholders $ (17.2) $ (55.1) Weighted average shares outstanding for basic and diluted loss per share 222.3 219.9 Basic and diluted loss per share attributable to common shareholders $ (0.08) $ (0.25)

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 Revenue recognition timing Americas EMEA APAC Total Property, facilities and project management Over time $ 1,030.9 $ 114.0 $ 205.3 $ 1,350.2 Leasing At a point in time 222.8 42.6 29.4 294.8 Capital markets At a point in time 133.8 22.3 10.7 166.8 Valuation and other At a point in time or over time 37.4 45.0 29.6 112.0 Total revenue $ 1,424.9 $ 223.9 $ 275.0 $ 1,923.8 Three Months Ended March 31, 2020 Revenue recognition timing Americas EMEA APAC Total Property, facilities and project management Over time $ 966.3 $ 106.6 $ 228.3 $ 1,301.2 Leasing At a point in time 242.1 40.8 22.8 305.7 Capital markets At a point in time 147.3 21.6 14.0 182.9 Valuation and other At a point in time or over time 39.1 41.0 25.5 105.6 Total revenue $ 1,394.8 $ 210.0 $ 290.6 $ 1,895.4

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill	The following table summarizes the changes in the carrying amount of goodwill for the three months ended March 31, 2021 (in millions): Americas EMEA APAC Total Balance as of December 31, 2020 $ 1,502.2 $ 327.3 $ 268.5 $ 2,098.0 Measurement period adjustments 0.3 0.2 — 0.5 Effect of movements in exchange rates and other 0.8 (3.9) (3.7) (6.8) Balance as of March 31, 2021 $ 1,503.3 $ 323.6 $ 264.8 $ 2,091.7
Summary of Finite-Lived Intangible Assets	The following tables summarize the carrying amounts and accumulated amortization of intangible assets (in millions): As of March 31, 2021 Useful Life (in years) Gross Value Accumulated Amortization Net Value C&W trade name Indefinite $ 546.0 $ — $ 546.0 Customer relationships 1 - 15 1,387.8 (968.3) 419.5 Other intangible assets 2 - 13 17.4 (10.2) 7.2 Total intangible assets $ 1,951.2 $ (978.5) $ 972.7 As of December 31, 2020 Useful Life (in years) Gross Value Accumulated Amortization Net Value C&W trade name Indefinite $ 546.0 $ — $ 546.0 Customer relationships 1 - 15 1,390.1 (952.9) 437.2 Other intangible assets 2 - 13 17.4 (9.4) 8.0 Total intangible assets $ 1,953.5 $ (962.3) $ 991.2
Summary of Indefinite-Lived Intangible Assets	The following tables summarize the carrying amounts and accumulated amortization of intangible assets (in millions): As of March 31, 2021 Useful Life (in years) Gross Value Accumulated Amortization Net Value C&W trade name Indefinite $ 546.0 $ — $ 546.0 Customer relationships 1 - 15 1,387.8 (968.3) 419.5 Other intangible assets 2 - 13 17.4 (10.2) 7.2 Total intangible assets $ 1,951.2 $ (978.5) $ 972.7 As of December 31, 2020 Useful Life (in years) Gross Value Accumulated Amortization Net Value C&W trade name Indefinite $ 546.0 $ — $ 546.0 Customer relationships 1 - 15 1,390.1 (952.9) 437.2 Other intangible assets 2 - 13 17.4 (9.4) 8.0 Total intangible assets $ 1,953.5 $ (962.3) $ 991.2

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivatives	The following table presents the fair value of derivatives as of March 31, 2021 and December 31, 2020 (in millions): March 31, 2021 December 31, 2020 March 31, 2021 Assets Liabilities Assets Liabilities Derivative Instrument Notional Fair Value Fair Value Fair Value Fair Value Designated: Cash flow hedges: Interest rate swaps $ 1,708.3 $ — $ 123.9 $ — $ 163.9 Non-designated: Foreign currency forward contracts 617.3 1.5 0.3 2.5 1.1
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 three months ended March 31, 2021 and 2020 (in millions): Beginning Amount of Loss (1) Amount of (Loss) Gain (2) Ending Three Months Ended March 31, 2021 Interest rate cash flow hedges $ 158.9 $ (28.5) $ (9.0) $ 121.4 $ 158.9 $ (28.5) $ (9.0) $ 121.4 Three Months Ended March 31, 2020 Interest rate cash flow hedges $ 79.0 $ 85.3 $ 4.0 $ 168.3 $ 79.0 $ 85.3 $ 4.0 $ 168.3 (1) Amount is net of related income tax (benefit) expense of $0.0 million for the three months ended March 31, 2021 and 2020. (2) Amount is net of related income tax expense of $1.1 million and $0.7 million for the three months ended March 31, 2021 and 2020, respectively.

Long-term Debt and Other Borr_2

Long-term Debt and Other Borrowings (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consisted of the following (in millions): As of March 31, 2021 December 31, 2020 Collateralized: 2018 First Lien Loan, net of unamortized discount and issuance costs of $30.9 million and $32.5 million, respectively $ 2,608.7 $ 2,613.7 2020 Senior Secured Notes, net of unamortized issuance costs of $10.3 million and $10.6 million, respectively, due 2028 639.7 639.4 Finance lease liability 18.6 19.0 Notes payable to former stockholders 0.3 0.3 Total long-term debt 3,267.3 3,272.4 Less: current portion (36.8) (36.7) Total non-current long-term debt $ 3,230.5 $ 3,235.7

Stock-based Payments (Tables)

Stock-based Payments (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
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): Time-Based RSUs Performance-Based Number of RSUs Weighted Number of RSUs Weighted Unvested as of December 31, 2020 4.1 $ 15.73 1.5 $ 17.04 Granted 2.7 16.28 1.0 16.28 Vested (1.2) 15.65 — — Forfeited (0.1) 17.07 (0.0) 18.78 Unvested as of March 31, 2021 5.5 $ 16.12 2.5 $ 16.72
Summary of Compensation Expense Related to RSUs	The following table summarizes the Company's compensation expense related to RSUs (in millions): Three Months Ended March 31, Unrecognized at March 31, 2021 2021 2020 Time-Based RSUs $ 6.0 $ 10.8 $ 44.8 Performance-Based RSUs 1.2 0.8 22.1 Co-Investment RSUs — 0.1 — Total RSU stock-based compensation cost $ 7.2 $ 11.7 $ 66.9

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Schedule of Severance and Other Restructuring Accrual Activity	The following tables detail the Company’s severance and employment-related restructuring activity (in millions): Severance Pay and Benefits Contract Terminations and Other Costs Total Balance as of December 31, 2020 $ 10.0 $ 0.8 $ 10.8 Restructuring Charges: Americas 2.6 2.7 5.3 EMEA 2.7 — 2.7 APAC 0.5 — 0.5 Total Restructuring Charges 5.8 2.7 8.5 Payments and Other: Americas (2.7) (3.5) (6.2) EMEA (3.4) — (3.4) APAC (0.5) — (0.5) Total Payments and Other (6.6) (3.5) (10.1) Balance as of March 31, 2021 $ 9.2 $ — $ 9.2 Severance Pay and Benefits Contract Terminations and Other Costs Total Balance as of December 31, 2019 $ 1.2 $ — $ 1.2 Restructuring Charges: Americas 12.6 3.4 16.0 EMEA 7.2 — 7.2 APAC 0.1 — 0.1 Total Restructuring Charges 19.9 3.4 23.3 Payments and Other: Americas (3.9) (0.4) (4.3) EMEA — — — APAC — — — Total Payments and Other (3.9) (0.4) (4.3) Balance as of March 31, 2020 $ 17.2 $ 3.0 $ 20.2

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 and December 31, 2020 (in millions): As of March 31, 2021 Total Level 1 Level 2 Level 3 Assets Cash equivalents - money market funds $ 448.4 $ 448.4 $ — $ — Deferred compensation plan assets 49.4 49.4 — — Foreign currency forward contracts 1.5 — 1.5 — Deferred purchase price receivable 171.9 — — 171.9 Total $ 671.2 $ 497.8 $ 1.5 $ 171.9 Liabilities Deferred compensation plan liabilities $ 44.2 $ 44.2 $ — $ — Foreign currency forward contracts 0.3 — 0.3 — Interest rate swap agreements 123.9 — 123.9 — Earn-out liabilities 20.3 — — 20.3 Total $ 188.7 $ 44.2 $ 124.2 $ 20.3 As of December 31, 2020 Total Level 1 Level 2 Level 3 Assets Cash equivalents - money market funds $ 483.2 $ 483.2 $ — $ — Deferred compensation plan assets 49.5 49.5 — — Foreign currency forward contracts 2.5 — 2.5 — Deferred purchase price receivable 166.3 — — 166.3 Total $ 701.5 $ 532.7 $ 2.5 $ 166.3 Liabilities Deferred compensation plan liabilities $ 48.5 $ 48.5 $ — $ — Foreign currency forward contracts 1.1 — 1.1 — Interest rate swap agreements 163.9 — 163.9 — Earn-out liabilities 21.0 — — 21.0 Total $ 234.5 $ 48.5 $ 165.0 $ 21.0
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 2021 2020 Balance as of January 1, $ 21.0 $ 24.6 Purchases/additions — 12.7 Net change in fair value and other adjustments (0.7) (0.6) Payments — (0.1) Balance as of March 31, $ 20.3 $ 36.6

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2021
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): Three Months Ended March 31, 2021 2020 Cash and cash equivalents, beginning of period $ 1,074.8 $ 813.2 Restricted cash recorded in Other current assets, beginning of period 89.3 59.1 Total cash, cash equivalents and restricted cash shown in the statements of cash flows, beginning of period $ 1,164.1 $ 872.3 Cash and cash equivalents, end of period $ 1,015.6 $ 379.5 Restricted cash recorded in Other current assets, end of period 86.2 71.1 Total cash, cash equivalents and restricted cash shown in the statements of cash flows, end of period $ 1,101.8 $ 450.6 Supplemental cash flows and non-cash investing and financing activities are as follows (in millions): Three Months Ended March 31, 2021 2020 Cash paid for: Interest $ 30.5 $ 31.0 Income taxes 11.3 20.0 Operating leases 35.9 37.5 Non-cash investing/financing activities: Property and equipment acquired through capital leases 2.8 2.2 Deferred and contingent acquisition payment obligations — 32.3 Increase (decrease) in beneficial interest in a securitization 5.6 (7.9) Right of use assets acquired through operating leases 7.6 17.6

Segment Data - Schedule of summ

Segment Data - Schedule of summarized financial information by segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Total revenue	$ 1,923.8	$ 1,895.4
Percent change in revenue amount	1.00%
Americas
Segment Reporting Information [Line Items]
Total revenue	$ 1,424.9	1,394.8
EMEA
Segment Reporting Information [Line Items]
Total revenue	223.9	210
APAC
Segment Reporting Information [Line Items]
Total revenue	275	290.6
Operating segments | Americas
Segment Reporting Information [Line Items]
Total revenue	$ 1,424.9	1,394.8
Percent change in revenue amount	2.00%
Adjusted EBITDA	$ 77.8	64.1
Percent change in adjusted EBIDTA	21.00%
Operating segments | EMEA
Segment Reporting Information [Line Items]
Total revenue	$ 223.9	210
Percent change in revenue amount	7.00%
Adjusted EBITDA	$ 2.4	(3.4)
Percent change in adjusted EBIDTA	171.00%
Operating segments | APAC
Segment Reporting Information [Line Items]
Total revenue	$ 275	290.6
Percent change in revenue amount	(5.00%)
Adjusted EBITDA	$ 19.5	$ 9.6
Percent change in adjusted EBIDTA	103.00%

Segment Data - Schedule of adju

Segment Data - Schedule of adjusted EBITDA (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Depreciation and amortization	$ (43.1)	$ (72)
Interest expense, net of interest income	(42.4)	(36.5)
Benefit from income taxes	28	26.5
Integration and other costs related to merger	(16.2)	(17.3)
Pre-IPO stock-based compensation	(1.6)	(6.3)
Acquisition related costs and efficiency initiatives	(40.2)	(15.9)
Other	(1.4)	(3.9)
Net loss	(17.2)	(55.1)
Operating segments | Americas
Segment Reporting Information [Line Items]
Adjusted EBITDA	77.8	64.1
Operating segments | EMEA
Segment Reporting Information [Line Items]
Adjusted EBITDA	2.4	(3.4)
Operating segments | APAC
Segment Reporting Information [Line Items]
Adjusted EBITDA	$ 19.5	$ 9.6

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share [Abstract]
Potentially dilutive securities not included in computation (in shares)	1.6	3.9

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
	Mar. 31, 2021	Mar. 31, 2020
Basic and Diluted EPS
Net loss attributable to shareholders	$ (17.2)	$ (55.1)
Weighted average shares outstanding for basic and diluted loss per share	222.3	219.9
Basic and diluted loss per share attributable to common shareholders (in dollars per share)	$ (0.08)	$ (0.25)

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract liabilities	$ 40.9	$ 42.8
Prepaid expenses and other current assets
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract assets	250.4	247.6
Other non-current assets
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract assets	$ 43.1	$ 38.2

Revenue - Disaggregation of rev

Revenue - Disaggregation of revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 1,923.8	$ 1,895.4
Americas
Disaggregation of Revenue [Line Items]
Revenue	1,424.9	1,394.8
EMEA
Disaggregation of Revenue [Line Items]
Revenue	223.9	210
APAC
Disaggregation of Revenue [Line Items]
Revenue	275	290.6
Property, facilities and project management | Over time
Disaggregation of Revenue [Line Items]
Revenue	1,350.2	1,301.2
Property, facilities and project management | Americas | Over time
Disaggregation of Revenue [Line Items]
Revenue	1,030.9	966.3
Property, facilities and project management | EMEA | Over time
Disaggregation of Revenue [Line Items]
Revenue	114	106.6
Property, facilities and project management | APAC | Over time
Disaggregation of Revenue [Line Items]
Revenue	205.3	228.3
Leasing | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	294.8	305.7
Leasing | Americas | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	222.8	242.1
Leasing | EMEA | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	42.6	40.8
Leasing | APAC | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	29.4	22.8
Capital markets | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	166.8	182.9
Capital markets | Americas | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	133.8	147.3
Capital markets | EMEA | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	22.3	21.6
Capital markets | APAC | At a point in time
Disaggregation of Revenue [Line Items]
Revenue	10.7	14
Valuation and other | At a point in time or over time
Disaggregation of Revenue [Line Items]
Revenue	112	105.6
Valuation and other | Americas | At a point in time or over time
Disaggregation of Revenue [Line Items]
Revenue	37.4	39.1
Valuation and other | EMEA | At a point in time or over time
Disaggregation of Revenue [Line Items]
Revenue	45	41
Valuation and other | APAC | At a point in time or over time
Disaggregation of Revenue [Line Items]
Revenue	$ 29.6	$ 25.5

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Goodwill [Roll Forward]
Balance as of December 31, 2020	$ 2,098
Measurement period adjustments	0.5
Effect of movements in exchange rates and other	(6.8)
Balance as of March 31, 2021	2,091.7
Americas
Goodwill [Roll Forward]
Balance as of December 31, 2020	1,502.2
Measurement period adjustments	0.3
Effect of movements in exchange rates and other	0.8
Balance as of March 31, 2021	1,503.3
EMEA
Goodwill [Roll Forward]
Balance as of December 31, 2020	327.3
Measurement period adjustments	0.2
Effect of movements in exchange rates and other	(3.9)
Balance as of March 31, 2021	323.6
APAC
Goodwill [Roll Forward]
Balance as of December 31, 2020	268.5
Measurement period adjustments	0
Effect of movements in exchange rates and other	(3.7)
Balance as of March 31, 2021	$ 264.8

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment charges	$ 0	$ 0
Intangible Impairment charges	0	0
Amortization expense	$ 16,500,000	$ 42,500,000

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2021	Jun. 30, 2020	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, accumulated amortization	$ (978.5)		$ (962.3)
Gross Value	1,951.2		1,953.5
Net Value	972.7		991.2
C&W trade name
Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	546		546
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross value	1,387.8		1,390.1
Finite-lived intangible assets, accumulated amortization	(968.3)		(952.9)
Finite-lived intangible assets, net value	$ 419.5		437.2
Customer relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	1 year	1 year
Customer relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	15 years	15 years
Other intangible assets
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, gross value	$ 17.4		17.4
Finite-lived intangible assets, accumulated amortization	(10.2)		(9.4)
Finite-lived intangible assets, net value	$ 7.2		$ 8
Other intangible assets | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	2 years	2 years
Other intangible assets | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	13 years	13 years

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Narrative (Details) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)derivative_instrument	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)derivative_instrument
Designated
Derivative [Line Items]
Pre-tax loss included in accumulated other comprehensive loss for interest rate derivatives	$ 120.6		$ 157
Pre-tax losses reclassified during the next twelve months	$ 40.4
Designated | Interest rate hedge
Derivative [Line Items]
Number of derivative instruments held | derivative_instrument	5
Non-Designated | Foreign currency forward contracts
Derivative [Line Items]
Number of derivative instruments held | derivative_instrument	19		17
Losses on derivative instruments	$ 0.2	$ 0.4
Notional amount	617.3		$ 611.7
Reclassification out of Accumulated Other Comprehensive Income | Unrealized Hedging (Losses) Gains | Interest rate hedge
Derivative [Line Items]
(Loss) gains reclassified into earnings	$ (7.9)	$ 4.7

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Schedule of Fair Value of Derivatives (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Designated | Cash Flow Hedging | Interest rate swaps
Derivative [Line Items]
Notional	$ 1,708.3
Designated | Cash Flow Hedging | Other non-current assets | Interest rate swaps
Derivative [Line Items]
Assets fair value	0	$ 0
Designated | Cash Flow Hedging | Other non-current liabilities | Interest rate swaps
Derivative [Line Items]
Liabilities fair value	123.9	163.9
Non-Designated | Foreign currency forward contracts
Derivative [Line Items]
Notional	617.3	611.7
Non-Designated | Other non-current assets | Foreign currency forward contracts
Derivative [Line Items]
Assets fair value	1.5	2.5
Non-Designated | Other non-current liabilities | Foreign currency forward contracts
Derivative [Line Items]
Liabilities fair value	$ 0.3	$ 1.1

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
	Mar. 31, 2021	Mar. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Accumulated Other Comprehensive Loss (Gain)	$ (1,094.7)
Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives	(28.5)	$ 85.3
Ending Accumulated Other Comprehensive Loss (Gain)	(1,105.9)
Unrealized Hedging (Losses) Gains
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Accumulated Other Comprehensive Loss (Gain)	158.9	79
Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives	(28.5)	85.3
Amount of (Loss) Gain Reclassified from Accumulated Other Comprehensive Loss into Statement of Operations	(9)	4
Ending Accumulated Other Comprehensive Loss (Gain)	121.4	168.3
Amount of income tax (benefit) expense	0	0
Amount of loss (gain) reclassified, tax benefit (expense)	1.1	0.7
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)	158.9	79
Amount of Loss (Gain) Recognized in Other Comprehensive Loss on Derivatives	(28.5)	85.3
Amount of (Loss) Gain Reclassified from Accumulated Other Comprehensive Loss into Statement of Operations	(9)	4
Ending Accumulated Other Comprehensive Loss (Gain)	$ 121.4	$ 168.3

Long-term Debt and Other Borr_3

Long-term Debt and Other Borrowings - Schedule of Long-term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total long-term debt	$ 3,267.3	$ 3,272.4
Less: current portion	(36.8)	(36.7)
Total non-current long-term debt	3,230.5	3,235.7
Secured Debt | 2018 First Lien Loan
Debt Instrument [Line Items]
Unamortized discount and issuance costs	30.9	32.5
Total long-term debt	2,608.7	2,613.7
2020 Senior Secured Note | Senior Secured Note Due May 2028
Debt Instrument [Line Items]
Unamortized discount and issuance costs	10.3	10.6
Total long-term debt	639.7	639.4
Finance lease liability
Debt Instrument [Line Items]
Total long-term debt	18.6	19
Notes payable to former stockholders
Debt Instrument [Line Items]
Total long-term debt	$ 0.3	$ 0.3

Long-term Debt and Other Borr_4

Long-term Debt and Other Borrowings - Narrative (Details)	May 22, 2020USD ($)	Jan. 20, 2020USD ($)	Dec. 20, 2019USD ($)	Aug. 21, 2018USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Revolving Credit Facility
Debt Instrument [Line Items]
Debt issuance costs, amount		$ 11,100,000	$ 500,000
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
Proceeds from debt, net of stated discount and debt issuance costs				2,700,000,000
Stated discount, amount				13,500,000
Debt issuance costs, amount				20,600,000
Effective interest rate					3.20%
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					$ 1,000,000,000	$ 1,000,000,000
Line of Credit | First Lien Loan | Letter of Credit
Debt Instrument [Line Items]
Term loan increase			$ 210,000,000
Outstanding funds drawn					$ 3,700,000,000
2020 Senior Secured Note | Senior Secured Note Due May 2028
Debt Instrument [Line Items]
Debt instrument, face amount	$ 650,000,000
Proceeds from debt, net of stated discount and debt issuance costs	638,500,000
Debt issuance costs, amount	11,500,000
Effective interest rate					6.80%
Stated interest rate					6.75%
Issuance of senior secured notes	$ 650,000,000
LIBOR | 2018 Credit Agreement
Debt Instrument [Line Items]
Basis spread on variable rate					2.75%
Eurodollar Rate | 2018 Credit Agreement
Debt Instrument [Line Items]
Basis spread on variable rate		2.75%		3.25%
Base Rate | 2018 Credit Agreement
Debt Instrument [Line Items]
Basis spread on variable rate		1.75%		2.25%

Stock-based Payments - Summary

Stock-based Payments - Summary of Restricted Stock Units (Details) shares in Millions	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Time-Based RSUs
Number of RSUs
Unvested, beginning balance (in shares) | shares	4.1
Granted (in shares) | shares	2.7
Vested (in shares) | shares	(1.2)
Forfeited (in shares) | shares	(0.1)
Unvested, ending balance (in shares) | shares	5.5
Weighted Average Fair Value Per Share
Unvested, beginning balance (in dollars per share) | $ / shares	$ 15.73
Granted (in dollars per share) | $ / shares	16.28
Vested (in dollars per share) | $ / shares	15.65
Forfeited (in dollars per share) | $ / shares	17.07
Unvested, ending balance (in dollars per share) | $ / shares	$ 16.12
Performance-Based RSUs
Number of RSUs
Unvested, beginning balance (in shares) | shares	1.5
Granted (in shares) | shares	1
Vested (in shares) | shares	0
Forfeited (in shares) | shares	0
Unvested, ending balance (in shares) | shares	2.5
Weighted Average Fair Value Per Share
Unvested, beginning balance (in dollars per share) | $ / shares	$ 17.04
Granted (in dollars per share) | $ / shares	16.28
Vested (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	18.78
Unvested, ending balance (in dollars per share) | $ / shares	$ 16.72

Stock-based Payments - Summar_2

Stock-based Payments - Summary of RSU Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-IPO stock-based compensation	$ 1.6	$ 6.3
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-IPO stock-based compensation	7.2	11.7
Unrecognized compensation expense related to RSUs	66.9
Time-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-IPO stock-based compensation	6	10.8
Unrecognized compensation expense related to RSUs	44.8
Performance-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-IPO stock-based compensation	1.2	0.8
Unrecognized compensation expense related to RSUs	22.1
Co-Investment RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-IPO stock-based compensation	0	$ 0.1
Unrecognized compensation expense related to RSUs	$ 0

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Feb. 29, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 8.5	$ 23.3
Restructuring accrual in other current liabilities	8		$ 8.3
Restructuring accrual in other non-current liabilities	$ 1.2		$ 2.5
Minimum | Operating Efficiency Initiatives
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs to be incurred				$ 25
Maximum | Operating Efficiency Initiatives
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs to be incurred				$ 35

Restructuring - Schedule of Sev

Restructuring - Schedule of Severance and Other Restructuring Accrual Activity (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Restructuring Reserve [Roll Forward]
Balance, beginning of period	$ 10.8	$ 1.2
Restructuring charges	8.5	23.3
Payments and other	(10.1)	(4.3)
Balance, end of period	9.2	20.2
Severance Pay and Benefits
Restructuring Reserve [Roll Forward]
Balance, beginning of period	10	1.2
Restructuring charges	5.8	19.9
Payments and other	(6.6)	(3.9)
Balance, end of period	9.2	17.2
Contract Terminations and Other Costs
Restructuring Reserve [Roll Forward]
Balance, beginning of period	0.8	0
Restructuring charges	2.7	3.4
Payments and other	(3.5)	(0.4)
Balance, end of period	0	3
Americas
Restructuring Reserve [Roll Forward]
Restructuring charges	5.3	16
Payments and other	(6.2)	(4.3)
Americas | Severance Pay and Benefits
Restructuring Reserve [Roll Forward]
Restructuring charges	2.6	12.6
Payments and other	(2.7)	(3.9)
Americas | Contract Terminations and Other Costs
Restructuring Reserve [Roll Forward]
Restructuring charges	2.7	3.4
Payments and other	(3.5)	(0.4)
EMEA
Restructuring Reserve [Roll Forward]
Restructuring charges	2.7	7.2
Payments and other	(3.4)	0
EMEA | Severance Pay and Benefits
Restructuring Reserve [Roll Forward]
Restructuring charges	2.7	7.2
Payments and other	(3.4)	0
EMEA | Contract Terminations and Other Costs
Restructuring Reserve [Roll Forward]
Restructuring charges	0	0
Payments and other	0	0
APAC
Restructuring Reserve [Roll Forward]
Restructuring charges	0.5	0.1
Payments and other	(0.5)	0
APAC | Severance Pay and Benefits
Restructuring Reserve [Roll Forward]
Restructuring charges	0.5	0.1
Payments and other	(0.5)	0
APAC | Contract Terminations and Other Costs
Restructuring Reserve [Roll Forward]
Restructuring charges	0	0
Payments and other	$ 0	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Loss Contingencies [Line Items]
Closed-ended terms for guarantees	7 years 1 month 6 days
Maximum potential future payments on guarantees	$ 51.6
Contingent liabilities, current	101.7	$ 91.7
Contingent liabilities, non-current	22.3	21
Errors and Omissions (E&O) claims and other claims
Loss Contingencies [Line Items]
Contingent liabilities	42.7	39.5
Workers' compensation
Loss Contingencies [Line Items]
Contingent liabilities	81.3	73.2
Insurance recoverable
Loss Contingencies [Line Items]
Loss contingency, receivable	$ 6.3	$ 4.6

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - Affiliates - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Accounts receivable, related parties, current	$ 40.9	$ 34.4
Accounts receivable, related parties, noncurrent	$ 196.6	$ 187.8

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Billions	Mar. 31, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Estimated fair value of external debt	$ 3.3	$ 3.3
Gross carrying value of debt	$ 3.3	$ 3.3

Fair Value Measurements - Recur

Fair Value Measurements - Recurring Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Assets
Cash equivalents - money market funds	$ 448.4	$ 483.2
Deferred compensation plan assets	49.4	49.5
Deferred purchase price receivable	171.9	166.3
Total	671.2	701.5
Liabilities
Deferred compensation plan liabilities	44.2	48.5
Earn-out liabilities	20.3	21
Total	188.7	234.5
Level 1
Assets
Cash equivalents - money market funds	448.4	483.2
Deferred compensation plan assets	49.4	49.5
Deferred purchase price receivable	0	0
Total	497.8	532.7
Liabilities
Deferred compensation plan liabilities	44.2	48.5
Earn-out liabilities	0	0
Total	44.2	48.5
Level 2
Assets
Cash equivalents - money market funds	0	0
Deferred compensation plan assets	0	0
Deferred purchase price receivable	0	0
Total	1.5	2.5
Liabilities
Deferred compensation plan liabilities	0	0
Earn-out liabilities	0	0
Total	124.2	165
Level 3
Assets
Cash equivalents - money market funds	0	0
Deferred compensation plan assets	0	0
Deferred purchase price receivable	171.9	166.3
Total	171.9	166.3
Liabilities
Deferred compensation plan liabilities	0	0
Earn-out liabilities	20.3	21
Total	20.3	21
Foreign currency forward contracts
Assets
Foreign currency forward contracts	1.5	2.5
Liabilities
Derivative liability	0.3	1.1
Foreign currency forward contracts | Level 1
Assets
Foreign currency forward contracts	0	0
Liabilities
Derivative liability	0	0
Foreign currency forward contracts | Level 2
Assets
Foreign currency forward contracts	1.5	2.5
Liabilities
Derivative liability	0.3	1.1
Foreign currency forward contracts | Level 3
Assets
Foreign currency forward contracts	0	0
Liabilities
Derivative liability	0	0
Interest rate swaps
Liabilities
Derivative liability	123.9	163.9
Interest rate swaps | Level 1
Liabilities
Derivative liability	0	0
Interest rate swaps | Level 2
Liabilities
Derivative liability	123.9	163.9
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
	Mar. 31, 2021	Mar. 31, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 21	$ 24.6
Purchases/additions	0	12.7
Net change in fair value and other adjustments	(0.7)	(0.6)
Payments	0	(0.1)
Ending balance	$ 20.3	$ 36.6

Accounts Receivable Securitiz_2

Accounts Receivable Securitization - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Aug. 20, 2018	Mar. 08, 2017
Transfers and Servicing [Abstract]
Investment limit				$ 125,000,000	$ 100,000,000
Transferor's interests in transferred financial assets, receivables sold, percent			100.00%
Amount drawn on investment limit	$ 0		$ 0
Proceeds from accounts receivable securitization	320,200,000	$ 299,800,000
Cash collection	315,000,000	307,300,000
Outstanding principal on receivables sold under securitization	184,600,000		$ 179,400,000
Accounts receivable securitization, program costs	$ 200,000	$ 600,000

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 1,015.6	$ 1,074.8	$ 379.5	$ 813.2
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	1,101.8	1,164.1	450.6	872.3
Prepaid expenses and other current assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash recorded in other current assets	$ 86.2	$ 89.3	$ 71.1	$ 59.1

Supplemental Cash Flow Inform_4

Supplemental Cash Flow Information - Schedule of Non Cash Investing and Financing Activities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash paid for:
Interest	$ 30.5	$ 31
Income taxes	11.3	20
Operating leases	35.9	37.5
Non-cash investing/financing activities:
Property and equipment acquired through capital leases	2.8	2.2
Deferred and contingent acquisition payment obligations	0	32.3
Increase (decrease) in beneficial interest in a securitization	5.6	(7.9)
Right of use assets acquired through operating leases	$ 7.6	$ 17.6