The following tables represent a disaggregation of revenue from contracts with customers for the years ended December 31, 2018, 2017 and 2016 by type of service and business segment (dollars in thousands):

	Year Ended December 31, 2018
	Americas		EMEA		APAC		Global Investment Management		Development Services		Consolidated
Topic 606 Revenue:
Occupier outsourcing	$	7,797,742	$	4,030,257	$	1,076,742	$	—	$	—	$	12,904,741
Leasing		2,423,248		526,372		421,255		—		4,683		3,375,558
Sales		1,189,368		428,810		300,312		—		650		1,919,140
Property management		709,213		244,370		281,882		—		8,666		1,244,131
Valuation		261,559		187,515		111,741		—		—		560,815
Commercial mortgage origination (1)		125,731		5,768		2,330		—		—		133,829
Investment management		—		—		—		434,405		—		434,405
Development services		—		—		—		—		86,320		86,320
Topic 606 Revenue		12,506,861		5,423,092		2,194,262		434,405		100,319		20,658,939
Out of Scope of Topic 606 Revenue:
Commercial mortgage origination		402,607		—		—		—		—		402,607
Loan servicing		172,096		10,755		570		—		—		183,421
Other revenue		50,342		32,076		12,703		—		—		95,121
Total Out of Scope of Topic 606 Revenue		625,045		42,831		13,273		—		—		681,149
Total revenue	$	13,131,906	$	5,465,923	$	2,207,535	$	434,405	$	100,319	$	21,340,088

	Year Ended December 31, 2017 (As Adjusted) (2)
	Americas		EMEA		APAC		Global Investment Management		Development Services		Consolidated
Topic 606 Revenue:
Occupier outsourcing	$	7,089,660	$	3,101,518	$	954,396	$	—	$	—	$	11,145,574
Leasing		2,054,872		446,446		357,983		—		4,051		2,863,352
Sales		1,103,862		397,130		304,344		—		977		1,806,313
Property management		660,147		243,630		237,631		—		13,914		1,155,322
Valuation		245,179		165,082		117,377		—		—		527,638
Commercial mortgage origination (1)		104,565		5,447		2,119		—		—		112,131
Investment management		—		—		—		377,644		—		377,644
Development services		—		—		—		—		60,513		60,513
Topic 606 Revenue		11,258,285		4,359,253		1,973,850		377,644		79,455		18,048,487
Out of Scope of Topic 606 Revenue:
Commercial mortgage origination		338,390		—		—		—		—		338,390
Loan servicing		146,460		10,989		—		—		—		157,449
Other revenue		48,242		26,583		9,636		—		—		84,461
Total Out of Scope of Topic 606 Revenue		533,092		37,572		9,636		—		—		580,300
Total revenue	$	11,791,377	$	4,396,825	$	1,983,486	$	377,644	$	79,455	$	18,628,787

(1)	We earn fees for arranging financing for borrowers with third-party lender contacts. Such fees are in scope of Topic 606.

(2)	We adopted new revenue recognition guidance in the first quarter of 2018. Certain restatements have been made to the 2017 financial statements to conform with the 2018 presentation. See Notes 2 and 3 for more information.

	Year Ended December 31, 2016 (As Adjusted) (2)
	Americas		EMEA		APAC		Global Investment Management		Development Services		Consolidated
Topic 606 Revenue:
Occupier outsourcing	$	6,570,559	$	2,975,106	$	828,194	$	—	$	—	$	10,373,859
Leasing		1,924,361		411,005		312,184		—		4,436		2,651,986
Sales		1,103,452		334,398		261,320		—		1,333		1,700,503
Property management		621,452		221,904		203,176		—		9,502		1,056,034
Valuation		245,389		148,856		110,125		—		—		504,370
Commercial mortgage origination (1)		112,797		2,881		2,136		—		—		117,814
Investment management		—		—		—		369,800		—		369,800
Development services		—		—		—		—		55,638		55,638
Topic 606 Revenue		10,578,010		4,094,150		1,717,135		369,800		70,909		16,830,004
Out of Scope of Topic 606 Revenue:
Commercial mortgage origination		330,352		—		—		—		—		330,352
Loan servicing		111,373		11,144		—		—		—		122,517
Other revenue		50,230		23,612		12,393		—		—		86,235
Total Out of Scope of Topic 606 Revenue		491,955		34,756		12,393		—		—		539,104
Total revenue	$	11,069,965	$	4,128,906	$	1,729,528	$	369,800	$	70,909	$	17,369,108

(1)	We earn fees for arranging financing for borrowers with third-party lender contacts. Such fees are in scope of Topic 606.

(2)	We adopted new revenue recognition guidance in the first quarter of 2018. Certain restatements have been made to the 2016 financial statements to conform with the 2018 presentation. See Notes 2 and 3 for more information.

We had contract assets totaling $381.8 million ($307.0 million of which was current) and $330.9 million ($273.1 million of which was current) as of December 31, 2018 and 2017, respectively. During the year ended December 31, 2018, our contract assets increased by $50.9 million, primarily due to an increase in contract assets in our leasing business.

We had contract liabilities totaling $92.5 million ($82.2 million of which was current) and $100.6 million (all of which was current) as of December 31, 2018 and 2017, respectively. During the year ended December 31, 2018, we recognized revenue of $80.5 million that was included in the contract liability balance at December 31, 2017.

Within our Occupier Outsourcing business line, we incur transition costs to fulfil contracts prior to services being rendered. We capitalized $45.7 million, $31.9 million and $26.1 million, respectively, of transition costs during the years ended December 31, 2018, 2017 and 2016. We recorded amortization of transition costs of $23.4 million, $19.2 million and $11.9 million, respectively, during the years ended December 31, 2018, 2017 and 2016. No impairment loss in relation to the costs capitalized was recorded during the years ended December 31, 2018, 2017 or 2016.