Telford Acquisition (Tables)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Summary of Excess Purchase Price Over Estimated Fair Value of Net Assets Acquired

The following represents a summary of the excess purchase price over the estimated fair value of net assets acquired (dollars in thousands):

Estimated purchase price	$	328,502
Less: Estimated fair value of net assets acquired (see table below)		297,669
Excess purchase price over estimated fair value of net assets    acquired	$	30,833

Summary of Aggregate Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the aggregate estimated fair values of the assets acquired and the liabilities assumed in the Telford Acquisition (dollars in thousands):

Assets Acquired:
Cash and cash equivalents	$	7,896
Receivables		6,993
Contract assets, current		31,850
Prepaid expenses		2,704
Property and equipment		2,637
Other intangible assets		26,749
Operating lease assets		6,488
Investments in unconsolidated subsidiaries		79,667
Non-current contract assets		8,015
Real estate under development		208,402
Deferred tax assets, net		2,857
Other assets (current and non-current)		99,429
Total assets acquired		483,687
Liabilities Assumed:
Accounts payable and accrued expenses		47,552
Compensation and employee benefits payable		1,580
Accrued bonus		3,274
Operating lease liabilities		941
Contract liabilities, current		1,949
Income taxes payable		1,813
Line of credit		110,687
Non-current operating lease liabilities		5,547
Other liabilities (current and non-current)		12,675
Total liabilities assumed		186,018
Estimated Fair Value of Net Assets Acquired	$	297,669

Summary of Preliminary Estimate of Trademark Acquired

In connection with the Telford Acquisition, below is a summary of the preliminary estimate of the trademark acquired (dollars in thousands):

				As of December 31, 2019
Asset Class	Amortization Period	Amount Assigned at Acquisition Date		Accumulated Amortization and Foreign Currency Translation		Net Carrying Value
Trademark	20 years	$	26,749	$	1,725	$	28,474

Summary of Pro Forma Results Prepared for Comparative Purposes

These unaudited pro forma results have been prepared for comparative purposes only and do not purport to be indicative of what operating results would have been had the Telford Acquisition occurred on January 1, 2018 and may not be indicative of future operating results (dollars in thousands, except share data):

	Year Ended December 31,
		2019		2018
Revenue	$	24,158,427	$	21,803,506
Operating income		1,294,480		1,157,051
Net income attributable to CBRE Group, Inc.		1,321,097		1,121,469
Basic income per share:
Net income per share attributable to CBRE Group, Inc.	$	3.93	$	3.31
Weighted average shares outstanding for basic income per share		335,795,654		339,321,056
Diluted income per share:
Net income per share attributable to CBRE Group, Inc.	$	3.88	$	3.27
Weighted average shares outstanding for diluted income per share		340,522,871		343,122,741