v3.25.2
Business Segments (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Segment Reporting Information [Line Items]        
Revenue $ 6,250.1 $ 5,628.7 $ 11,996.5 $ 10,753.2
Equity in earnings (losses) (27.4) (15.4) (53.0) (19.1)
Adjusted EBITDA 291.7 246.3 516.5 433.4
Restructuring and acquisition charges (21.3) (11.5) (41.0) (13.2)
Interest on employee loans, net 2.0 1.3 3.6 2.3
Equity earnings (losses) - Investment Management and Software and Technology Solutions (27.0) (16.3) (55.7) (21.2)
Credit losses on convertible note investments (0.2) 0.0 (0.7) 0.0
Net non-cash MSR and mortgage banking derivative activity (4.2) (11.8) (17.1) (20.8)
Interest Expense, Net of Interest Income (35.3) (41.7) (59.9) (72.2)
Provision for income taxes (26.7) (20.5) (40.7) (36.4)
Depreciation and amortization adjusted (66.7) (61.4) (137.4) (121.4)
Depreciation and amortization 67.7 62.3 139.3 123.3
Net income attributable to common shareholders 112.3 84.4 167.6 150.5
Real Estate Management Services        
Segment Reporting Information [Line Items]        
Revenue 4,894.0 4,369.9 9,463.4 8,439.1
Platform compensation and benefits 465.8 416.5 897.4 817.0
Platform operating, administrative and other 147.5 146.8 286.7 275.4
Gross contract costs 4,173.0 3,717.1 8,103.3 7,186.2
Equity in earnings (losses) 0.5 0.3 0.9 1.4
Segment Reporting, Other Segment Item, Amount (1.6) (1.2) (4.0) (1.9)
Adjusted EBITDA 106.6 88.6 172.9 160.0
Depreciation and amortization adjusted 29.2 28.3 59.8 56.3
Leasing Advisory        
Segment Reporting Information [Line Items]        
Revenue 676.8 642.2 1,262.9 1,162.6
Platform compensation and benefits 479.3 460.7 906.1 842.5
Platform operating, administrative and other 74.2 61.3 134.6 118.9
Gross contract costs 3.3 8.3 5.3 14.7
Equity in earnings (losses) 0.0 0.1 0.0 0.1
Segment Reporting, Other Segment Item, Amount 0.4 0.1 0.5 0.3
Adjusted EBITDA 120.4 112.1 217.4 186.9
Depreciation and amortization 11.0 9.0 23.0 18.1
Capital Markets Services        
Segment Reporting Information [Line Items]        
Revenue 520.3 457.6 955.6 835.2
Platform compensation and benefits 374.1 341.1 703.6 628.7
Platform operating, administrative and other 95.0 83.3 165.7 144.1
Gross contract costs 1.7 11.8 2.8 25.4
Equity in earnings (losses) 0.8 0.5 2.4 0.6
Segment Reporting, Other Segment Item, Amount 4.4 11.9 17.4 21.2
Adjusted EBITDA 54.7 33.8 103.3 58.8
Depreciation and amortization 17.5 17.3 36.4 33.7
Investment Management        
Segment Reporting Information [Line Items]        
Revenue 103.1 102.6 201.6 206.0
Platform compensation and benefits 60.9 59.0 119.2 120.3
Platform operating, administrative and other 17.5 20.5 33.8 33.4
Gross contract costs 8.3 8.8 16.5 17.2
Equity in earnings (losses) (1.3) (7.3) (7.4) (11.2)
Segment Reporting, Other Segment Item, Amount (0.1) 8.4 0.0 8.6
Adjusted EBITDA 16.3 22.7 32.1 43.7
Depreciation and amortization 2.8 2.0 5.7 4.0
Software and Technology Solutions        
Segment Reporting Information [Line Items]        
Revenue 55.9 56.4 113.0 110.3
Platform compensation and benefits 47.1 53.5 92.6 100.8
Platform operating, administrative and other 15.5 12.4 30.0 22.9
Gross contract costs 0.5 1.4 1.2 2.6
Equity in earnings (losses) (27.4) (9.0) (48.9) (10.0)
Segment Reporting, Other Segment Item, Amount 0.9 0.0 1.6 0.0
Adjusted EBITDA (6.3) (10.9) (9.2) (16.0)
Depreciation and amortization 6.2 4.8 12.5 9.3
Workplace Management | Real Estate Management Services        
Segment Reporting Information [Line Items]        
Revenue 3,349.1 3,021.1 6,612.7 5,892.8
Project Management | Real Estate Management Services        
Segment Reporting Information [Line Items]        
Revenue 971.6 788.1 1,719.1 1,444.5
Property Management | Real Estate Management Services        
Segment Reporting Information [Line Items]        
Revenue 454.4 436.6 900.0 866.3
Portfolio Services and Other | Real Estate Management Services        
Segment Reporting Information [Line Items]        
Revenue 118.9 124.1 231.6 235.5
Leasing | Leasing Advisory        
Segment Reporting Information [Line Items]        
Revenue 651.5 619.1 1,217.6 1,116.4
Advisory and Consulting | Leasing Advisory        
Segment Reporting Information [Line Items]        
Revenue 25.3 23.1 45.3 46.2
Investment Sales, Debt/Equity Advisory and Other | Capital Markets Services        
Segment Reporting Information [Line Items]        
Revenue 380.6 320.3 693.2 579.0
Value and Risk Advisory | Capital Markets Services        
Segment Reporting Information [Line Items]        
Revenue 97.7 95.8 179.3 176.0
Loan Servicing | Capital Markets Services        
Segment Reporting Information [Line Items]        
Revenue 42.0 41.5 83.1 80.2
Advisory Fees | Investment Management        
Segment Reporting Information [Line Items]        
Revenue 93.3 93.1 182.6 185.4
Transaction Fees & Other | Investment Management        
Segment Reporting Information [Line Items]        
Revenue 6.5 6.9 15.0 15.8
Incentive Fees | Investment Management        
Segment Reporting Information [Line Items]        
Revenue $ 3.3 $ 2.6 $ 4.0 $ 4.8