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Equity Method Investments
6 Months Ended
Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
Note 7: Equity Method Investments
Certain investments in which the Company has significant influence over the entity’s financial and operating policies, but does not control, are accounted for under the equity method. The Company’s material equity method investments include Cushman Wakefield Greystone LLC (“Greystone JV”), in which the Company owns a 40% interest, and CWVS Holding Limited ("Vanke JV"), in which the Company owns a 35% interest. In addition, the Company licenses certain of its trademarks to the Vanke JV and recognized royalty fee income of $2.1 million and $1.2 million for the three months ended June 30, 2023 and 2022, respectively, and $4.1 million and $3.5 million for the six months ended June 30, 2023 and 2022, respectively.
The Company had investments in certain strategic joint ventures classified under the equity method of accounting as follows (in millions):
As of
June 30, 2023December 31, 2022
Greystone JV$557.9 $550.8 
Vanke JV116.1 116.3 
Other investments7.9 10.2 
Total Equity method investments$681.9 $677.3 
The Company recognized earnings from equity method investments during the period as follows (in millions):
Three Months Ended June 30,Six Months Ended June 30,
2023202220232022
Greystone JV$8.4 $15.0 $16.8 $28.2 
Vanke JV3.5 0.5 5.7 2.4 
Other investments0.9 2.0 2.2 3.8 
Total Earnings from equity method investments$12.8 $17.5 $24.7 $34.4