Note 28 - Revenue

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

28.         Revenue

Disaggregated revenue

Colliers has disaggregated its revenue from contracts with customers by type of service and operating segment as presented in the following table.

					Asia		Investment
	Americas		EMEA		Pacific		Management		Corporate		Consolidated
Year ended December 31,
2022
Leasing	$	851,621	$	147,473	$	125,012	$	-	$	-	$	1,124,106
Capital Markets		760,486		161,454		162,232		-		-		1,084,172
E&D and Project management		518,214		191,378		81,073		-		-		790,665
Property management		297,573		70,148		131,507		-		-		499,228
Valuation and advisory		244,719		139,365		93,635		-		-		477,719
IM - Advisory and other		-		-		-		348,604		-		348,604
IM - Incentive Fees		-		-		-		30,277		-		30,277
Other		83,732		5,322		15,001		-		661		104,716
Total Revenue	$	2,756,345	$	715,140	$	608,460	$	378,881	$	661	$	4,459,487
2021
Leasing	$	729,050	$	145,422	$	126,211	$	-	$	-	$	1,000,683
Capital Markets		838,678		190,525		207,040		-		-		1,236,243
E&D and Project management		363,281		123,927		77,404		-		-		564,612
Property management		275,460		72,564		149,779		-		-		497,803
Valuation and advisory		214,665		134,489		98,323		-		7		447,484
IM - Advisory and other		-		-		-		217,864		-		217,864
IM - Incentive Fees		-		-		-		35,026		-		35,026
Other		68,083		5,810		14,904		-		617		89,414
Total Revenue	$	2,489,217	$	672,737	$	673,661	$	252,890	$	624	$	4,089,129

Revenue associated with the Company’s debt finance and loan servicing operations are outside the scope of ASC 606, Revenue from Contracts with Customers (“ASC 606”). In the year ended December 31, 2022, $48,244 of Capital Markets revenue (2021 - 90,970) and $53,105 of Other Revenue (2021 - $47,671) was excluded from the scope of ASC 606. These revenues were included entirely within the Americas segment.

Contract balances

As at December 31, 2022, the Company had contract assets totaling $107,679 of which $91,924 was current ($78,941 as at December 31, 2021 - of which $71,294 was current). During the year ended December 31, 2022, substantially all of the current contract assets were moved to accounts receivable or sold under the AR Facility (Note 16).

As at December 31, 2022, the Company had contract liabilities (all current) totaling $25,616 ($30,397 as at December 31, 2021). Revenue recognized for the year ended December 31, 2022, totaled $28,165 (2021 - $19,076) that was included in the contract liability balance at the beginning of the year.

Certain constrained brokerage fees, outsourcing & advisory fees and investment management fees may arise from services that began in a prior reporting period. Consequently, a portion of the fees the Company recognizes in the current period may be partially related to the services performed in prior periods. Typically, less than 5% of brokerage revenue recognized in a period had previously been constrained and substantially all investment management incentive fees, including carried interest, recognized in the period were previously constrained.