Note 27 - Revenue

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

27.      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.

OPERATING SEGMENT REVENUES

					Asia
	Americas		EMEA		Pacific		IM		Corporate		Consolidated
Year ended December 31,
2023
Leasing	$	788,132	$	140,111	$	134,845	$	-	$	-	$	1,063,088
Capital Markets		481,226		101,494		119,752		-		-		702,472
E&D and Project management		644,303		245,429		112,673		-		-		1,002,405
Property management		323,437		82,950		121,353		-		-		527,740
Valuation and advisory		187,178		148,526		101,237		-		-		436,941
IM - Advisory and other		-		-		-		480,674		-		480,674
IM - Incentive Fees		-		-		-		6,783		-		6,783
Other		85,726		8,390		20,453		-		469		115,038
Total Revenue	$	2,510,002	$	726,900	$	610,313	$	487,457	$	469	$	4,335,141
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

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”). During the year ended December 31, 2023 - $42,304 of Capital Markets revenue (2022 - $48,244) and $44,549 of Other Revenue (2022 - $53,105) respectively, was excluded from the scope of ASC 606. Substantially all of these revenues were included within the Americas segment.

Contract balances

As at December 31, 2023, the Company had contract assets totaling $103,080 of which $83,389 was current ($107,679 as at December 31, 2022 - of which $91,924 was current). During the year ended December 31, 2023, substantially all of the current contract assets were moved to accounts receivable or sold under the AR Facility (see note 16).

As at December 31, 2023, the Company had contract liabilities (all current) totaling $45,293 ($25,616 as at December 31, 2022). Revenue recognized for the year ended December 31, 2023, totaled $23,446 (2022 - $28,165) that was included in the contract liability balance at the beginning of the year.

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