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Revenue (Tables)
12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following tables disaggregate revenue by reportable segment and service line (in millions):
Year Ended December 31, 2023
Revenue recognition timingAmericasEMEAAPACTotal
Property, facilities and project managementOver time$4,973.2 $484.0 $1,046.9 $6,504.1 
LeasingAt a point in time1,445.3 230.0 176.3 1,851.6 
Capital marketsAt a point in time558.9 83.5 55.2 697.6 
Valuation and otherAt a point in time or over time151.6 176.2 112.6 440.4 
Total revenue$7,129.0 $973.7 $1,391.0 $9,493.7 
Year Ended December 31, 2022
Revenue recognition timingAmericasEMEAAPACTotal
Property, facilities and project managementOver time$4,868.7 $473.2 $966.2 $6,308.1 
LeasingAt a point in time1,690.9 235.1 180.1 2,106.1 
Capital marketsAt a point in time990.5 142.2 58.6 1,191.3 
Valuation and otherAt a point in time or over time200.9 179.6 119.7 500.2 
Total revenue$7,751.0 $1,030.1 $1,324.6 $10,105.7 
Year Ended December 31, 2021
Revenue recognition timingAmericasEMEAAPACTotal
Property, facilities and project managementOver time$4,298.1 $503.4 $858.0 $5,659.5 
LeasingAt a point in time1,408.5 247.7 204.1 1,860.3 
Capital marketsAt a point in time1,114.2 168.9 70.5 1,353.6 
Valuation and otherAt a point in time or over time194.5 193.1 127.7 515.3 
Total revenue$7,015.3 $1,113.1 $1,260.3 $9,388.7 
Contract with Customer, Contract Assets and Contract Liabilities
The following table provides information on contract assets and contract liabilities from contracts with customers included in the Consolidated Balance Sheets (in millions):
As of December 31,
20232022
Short-term contract assets$352.7 $397.3 
Contract asset allowances(41.7)(39.1)
Short-term contract assets, net311.0 358.2 
Non-current contract assets81.1 89.7 
Contract asset allowances(2.2)(2.2)
Non-current contract assets, net included in Other non-current assets
78.9 87.5 
Total contract assets, net$389.9 $445.7 
Contract liabilities included in Accounts payable and accrued expenses$57.0 $68.7