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Business Segments (Tables)
 12 Months Ended
Dec. 31, 2019
Segment Reporting [Abstract]  
Summary of financial information by business segment
Summarized financial information by business segment is as follows.
 
Year Ended December 31,
($ in millions)
2019
2018
2017
Americas - Real Estate Services
 
 
 
Leasing
$
1,960.5

1,754.1

1,510.1

Capital Markets
914.2

500.3

473.0

Property & Facility Management
5,607.9

5,142.2

4,503.5

Project & Development Services
1,689.6

1,301.7

1,242.8

Advisory, Consulting and Other
406.7

342.7

285.7

Revenue
10,578.9

9,041.0

8,015.1

Reimbursements
(5,857.8
)
(5,164.7
)
(4,648.5
)
Revenue before reimbursements
4,721.1

3,876.3

3,366.6

Gross contract costs
(800.2
)
(652.9
)
(521.0
)
Net non-cash MSR and mortgage banking derivative activity
(21.2
)
(8.3
)
(15.7
)
Fee revenue
3,899.7

3,215.1

2,829.9

Operating expenses, excluding reimbursed expenses:
 
 
 
Compensation, operating and administrative expenses
3,983.2

3,345.3

2,918.6

Depreciation and amortization
126.5

109.1

97.5

Segment operating expenses, excluding reimbursed expenses
4,109.7

3,454.4

3,016.1

Gross contract costs
(800.2
)
(652.9
)
(521.0
)
Fee-based segment operating expenses
3,309.5

2,801.5

2,495.1

Segment operating income
$
611.4

421.9

350.5

Equity earnings (losses)
1.7

0.8

(0.2
)
Segment income
$
613.1

422.7

350.3

 
 
 
 
EMEA - Real Estate Services
 
 
 
Leasing
$
302.7

333.0

303.6

Capital Markets
411.9

464.1

465.1

Property & Facility Management
1,551.6

1,482.2

1,342.7

Project & Development Services
904.3

920.3

691.1

Advisory, Consulting and Other
300.2

295.4

272.5

Revenue
3,470.7

3,495.0

3,075.0

Reimbursements
(709.7
)
(677.5
)
(471.9
)
Revenue before reimbursements
2,761.0

2,817.5

2,603.1

Gross contract costs
(1,104.2
)
(1,108.0
)
(1,038.7
)
Fee revenue
1,656.8

1,709.5

1,564.4

Operating expenses, excluding reimbursed expenses:
 
 
 
Compensation, operating and administrative expenses
2,670.9

2,689.7

2,507.9

Depreciation and amortization
43.1

50.8

44.6

Segment operating expenses, excluding reimbursed expenses
2,714.0

2,740.5

2,552.5

Gross contract costs
(1,104.2
)
(1,108.0
)
(1,038.7
)
Fee-based segment operating expenses
1,609.8

1,632.5

1,513.8

Segment operating income
$
47.0

77.0

50.6

Equity (losses) earnings
(1.0
)
—

0.3

Segment income
$
46.0

77.0

50.9

Continued: Summarized financial information by business segment is as follows.
 
Year Ended December 31,
($ in millions)
2019
2018
2017
Asia Pacific - Real Estate Services
 
 
 
Leasing
$
260.8

285.0

238.2

Capital Markets
216.1

181.0

211.3

Property & Facility Management
2,205.2

2,158.4

1,975.1

Project & Development Services
527.6

447.0

410.6

Advisory, Consulting and Other
197.8

177.1

172.1

Revenue
3,407.5

3,248.5

3,007.3

Reimbursements
(1,377.2
)
(1,369.2
)
(1,347.9
)
Revenue before reimbursements
2,030.3

1,879.3

1,659.4

Gross contract costs
(950.5
)
(829.6
)
(650.7
)
Fee revenue
1,079.8

1,049.7

1,008.7

Operating expenses, excluding reimbursed expenses:
 
 
 
Compensation, operating and administrative expenses
1,876.6

1,743.0

1,520.1

Depreciation and amortization
26.4

23.2

22.1

Segment operating expenses, excluding reimbursed expenses
1,903.0

1,766.2

1,542.2

Gross contract costs
(950.5
)
(829.6
)
(650.7
)
Fee-based segment operating expenses
952.5

936.6

891.5

Segment operating income
$
127.3

113.1

117.2

Equity earnings
2.3

2.0

3.2

Segment income
$
129.6

115.1

120.4

 
 
 
 
LaSalle
 
 
 
Advisory fees
$
326.4

276.7

265.5

Transaction fees & other
61.3

41.4

33.4

Incentive fees
138.4

215.8

56.9

Revenue
526.1

533.9

355.8

Reimbursements
(7.9
)
(17.5
)
(17.5
)
Revenue before reimbursements
518.2

516.4

338.3

Gross contract costs
(15.3
)
(4.5
)
(5.1
)
Fee revenue
502.9

511.9

333.2

Operating expenses, excluding reimbursed expenses:
 
 
 
Compensation, operating and administrative expenses
397.7

379.7

277.0

Depreciation and amortization
6.4

3.0

3.0

Segment operating expenses, excluding reimbursed expenses
404.1

382.7

280.0

Gross contract costs
(15.3
)
(4.5
)
(5.1
)
Fee-based segment operating expenses
388.8

378.2

274.9

Segment operating income
$
114.1

133.7

58.3

Equity earnings
33.3

30.0

41.1

Segment income
$
147.4

163.7

99.4



 
Year Ended December 31,
(in millions)
2019
2018
2017
Segment Reconciling Items
 
 
 
Fee revenue
$
7,139.2

6,486.2

5,736.2

Gross contract costs
2,870.2

2,595.0

2,215.5

Net non-cash MSR and mortgage banking derivative activity
21.2

8.3

15.7

Revenue before reimbursements
10,030.6

9,089.5

7,967.4

Reimbursements
7,952.6

7,228.9

6,485.8

Revenue
$
17,983.2

16,318.4

14,453.2

Total segment operating expenses, excluding reimbursed expenses & before restructuring and acquisition charges
$
9,130.8

8,343.8

7,390.8

Reimbursed expenses
7,952.6

7,228.9

6,485.8

Total segment operating expenses before restructuring and acquisition charges
$
17,083.4

15,572.7

13,876.6

Operating income before restructuring and acquisition charges
$
899.8

745.7

576.6

Restructuring and acquisition charges
184.4

38.8

30.7

Operating income
$
715.4

706.9

545.9
Reconciliation of segment identifiable assets and segment investments in real estate ventures to consolidated The following table reconciles segment identifiable assets and investments in real estate ventures to consolidated amounts.
 
12/31/2019
 
12/31/2018
($ in millions)
IDENTIFIABLE ASSETS
INVESTMENTS IN REAL ESTATE VENTURES
 
IDENTIFIABLE ASSETS
INVESTMENTS IN REAL ESTATE VENTURES
Real Estate Services:
 
 
 
 
 
Americas
$
8,256.4

23.9

 
$
5,288.9

17.0

EMEA
2,658.4

2.4

 
2,325.4

3.5

Asia Pacific
1,642.8

13.3

 
1,437.3

11.9

LaSalle
774.5

321.7

 
666.8

305.8

Corporate
340.5

42.9

 
307.1

18.7

Consolidated
$
13,672.6

404.2

 
$
10,025.5

356.9
Reconciliation of segment property and equipment expenditures to consolidated
The table below reconciles segment property and equipment expenditures to consolidated expenditures.
 
Year Ended December 31,
($ in millions)
2019
2018
2017
Real Estate Services:
 
 
 
Americas
$
135.6

109.1

62.6

EMEA
41.6

39.0

44.5

Asia Pacific
43.4

25.4

20.3

LaSalle
7.6

3.0

1.2

Corporate
38.8

32.5

25.1

Total capital expenditures (1)
$
267.0

209.0

153.7


(1) Included in total capital expenditures for the years ended December 31, 2019, 2018 and 2017, were $79.2 million, $47.1 million, and $2.3 million, respectively, related to acquisition of investment properties by less than wholly-owned consolidated VIEs.
Schedule of revenue and assets from most significant currencies
The following table sets forth the revenue and assets from our most significant currencies.
 
TOTAL REVENUE
 
TOTAL ASSETS
 
Year Ended December 31,
 
December 31,
($ in millions)
2019
2018
2017
 
2019
2018
United States dollar
$
10,054.9

8,523.8

7,572.1

 
$
9,015.7

5,866.4

British pound
1,514.8

1,526.3

1,447.3

 
1,320.0

1,187.3

Euro
1,507.7

1,527.1

1,244.8

 
984.7

932.2

Australian dollar
924.5

916.7

909.7

 
323.3

291.6

Indian rupee
651.8

580.4

516.2

 
372.4

317.5

Hong Kong dollar
533.8

487.2

450.0

 
218.5

187.1

Chinese yuan
505.9

505.5

439.7

 
207.2

190.4

Canadian dollar
435.5

390.5

333.4

 
194.3

172.0

Japanese yen
349.4

285.2

238.2

 
146.8

96.4

Singapore dollar
309.2

458.7

268.0

 
217.3

236.5

Other currencies
1,195.7

1,117.0

1,033.8

 
672.4

548.1

 
$
17,983.2

16,318.4

14,453.2

 
$
13,672.6

10,025.5