Disaggregation of Revenue |
The following tables disaggregate revenue by reportable segment and service line (in millions): | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2023 | | Revenue recognition timing | Americas | EMEA | APAC | Total | Property, facilities and project management | Over time | $ | 4,973.2 | | $ | 484.0 | | $ | 1,046.9 | | $ | 6,504.1 | | Leasing | At a point in time | 1,445.3 | | 230.0 | | 176.3 | | 1,851.6 | | Capital markets | At a point in time | 558.9 | | 83.5 | | 55.2 | | 697.6 | | Valuation and other | At a point in time or over time | 151.6 | | 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 timing | Americas | EMEA | APAC | Total | Property, facilities and project management | Over time | $ | 4,868.7 | | $ | 473.2 | | $ | 966.2 | | $ | 6,308.1 | | Leasing | At a point in time | 1,690.9 | | 235.1 | | 180.1 | | 2,106.1 | | Capital markets | At a point in time | 990.5 | | 142.2 | | 58.6 | | 1,191.3 | | Valuation and other | At a point in time or over time | 200.9 | | 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 timing | Americas | EMEA | APAC | Total | Property, facilities and project management | Over time | $ | 4,298.1 | | $ | 503.4 | | $ | 858.0 | | $ | 5,659.5 | | Leasing | At a point in time | 1,408.5 | | 247.7 | | 204.1 | | 1,860.3 | | Capital markets | At a point in time | 1,114.2 | | 168.9 | | 70.5 | | 1,353.6 | | Valuation and other | At a point in time or over time | 194.5 | | 193.1 | | 127.7 | | 515.3 | | Total revenue | | $ | 7,015.3 | | $ | 1,113.1 | | $ | 1,260.3 | | $ | 9,388.7 | |
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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, | | 2023 | 2022 | Short-term contract assets | $ | 352.7 | | $ | 397.3 | | Contract asset allowances | (41.7) | | (39.1) | | Short-term contract assets, net | 311.0 | | 358.2 | | | | | Non-current contract assets | 81.1 | | 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 | |
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