CBRE Group, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>CBRE Group, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

CBRE GROUP, INC. (CBRE) filed a Annual Report (10-K) with the SEC on February 20, 2024. CBRE Group, Inc. filed its 2023 Form 10-K on February 20, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 2100 McKinney Avenue, Suite 1250, Dallas, TX 75201. CBRE Group, Inc. was incorporated in Delaware. The filing includes financial data for the fiscal years 2023, 2022, and 2021.

Why It Matters

For investors and stakeholders tracking CBRE GROUP, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of CBRE's financial health, operational performance, and strategic positioning for the past fiscal year, which is crucial for investors and stakeholders to assess the company's current standing and future prospects. As a leading global real estate services and investment firm, CBRE's annual report offers insights into the commercial real estate market trends, economic conditions, and the company's ability to navigate these factors, impacting its stock valuation and investor confidence.

Risk Assessment

Risk Level: medium — CBRE GROUP, INC. shows moderate risk based on this filing. The filing is a standard annual report (10-K), which typically contains a broad range of information and risk factors inherent to the company's industry, but does not highlight any immediate, severe financial distress or significant new legal challenges.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand CBRE's performance drivers and potential headwinds in the commercial real estate sector.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-20 — Filing Date (Filed as of date)
• 2023 — Fiscal Year (2023 FY)
• 2022 — Previous Fiscal Year (Financial data comparison)
• 2021 — Prior Fiscal Year (Financial data comparison)

Key Players & Entities

• CBRE GROUP, INC. (company) — Filer name
• 2100 MCKINNEY AVENUE (location) — Business address street 1
• SUITE 1250 (location) — Business address street 2
• DALLAS (location) — Business address city
• TX (location) — Business address state
• 75201 (location) — Business address zip
• DE (location) — State of incorporation
• CB RICHARD ELLIS GROUP INC (company) — Former company name

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Reporting period for the 10-K
• 2024-02-20: Filing Date — Date the 10-K was officially submitted to the SEC

Key Financial Figures

• $0.01 — which registered Class A Common Stock, $0.01 par value per share "CBRE" New York Sto
• $80.71 — 2023 on the New York Stock Exchange of $80.71 for the registrant's Class A Common Sto
• $2.9 — 0 projects/programs and managing nearly $2.9 trillion in capital spend annually. We
• $145 billion — eal estate development. With more than $145 billion (as of December 31, 2023) in assets und
• $30 billion — s portfolio and pipeline totaled nearly $30 billion (as of December 31, 2023) and spanned i
• $2 billion — and interview process. We spent nearly $2 billion with diverse suppliers in 2023, with a
• $3 billion — ith a goal to lift that annual spend to $3 billion by the end of 2025. Also, we made signi

Filing Documents

• cbre-20231231.htm (10-K) — 3060KB
• cbre-20231231x10kxex1015.htm (EX-10.15) — 223KB
• cbre-20231231x10kxex21.htm (EX-21) — 10KB
• cbre-20231231x10qxex221.htm (EX-22.1) — 2KB
• cbre-20231231x10kxex231.htm (EX-23.1) — 3KB
• cbre-20231231x10qxex311.htm (EX-31.1) — 10KB
• cbre-20231231x10kxex312.htm (EX-31.2) — 10KB
• cbre-20231231x10kxex32.htm (EX-32) — 7KB
• cbre-20231231x10kxex97.htm (EX-97) — 36KB
• cbre-20231231_g1.jpg (GRAPHIC) — 25KB
• cbre-20231231_g2.jpg (GRAPHIC) — 85KB
• 0001138118-24-000006.txt (&nbsp;) — 17942KB
• cbre-20231231.xsd (EX-101.SCH) — 117KB
• cbre-20231231_cal.xml (EX-101.CAL) — 154KB
• cbre-20231231_def.xml (EX-101.DEF) — 656KB
• cbre-20231231_lab.xml (EX-101.LAB) — 1454KB
• cbre-20231231_pre.xml (EX-101.PRE) — 1003KB
• cbre-20231231_htm.xml (XML) — 2976KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 8 Item 1B. Unresolved Staff Comments 21 Item 1C. Cybersecurit y 22 Item 2.

Properties

Properties 23 Item 3.

Legal Proceedings

Legal Proceedings 24 Item 4. Mine Safety Disclosures 24 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 25 Item 6. [Reserved] 27 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 48 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 50 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 111 Item 9A.

Controls and Procedures

Controls and Procedures 111 Item 9B. Other Information 112 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 112 PART III Item 10. Directors, Executive Officers and Corporate Governance 113 Item 11.

Executive Compensation

Executive Compensation 113 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 113 Item 13. Certain Relationships and Related Transactions, and Director Independence 113 Item 14. Principal Accounting Fees and Services 113 PART IV Item 15. Exhibits and Financial Statement Schedules 114 Item 16. Form 10-K Summary 114 Schedule II – Valuation and Qualifying Accounts 115

SIGNATURES

SIGNATURES 119 Table of Contents PART I

Business

Item 1. Business. Company Overview CBRE is the world's largest commercial real estate services and investments firm. Our competitive advantage comes from our considerable scale and ability to offer integrated solutions to real estate investors and occupiers in more than 100 countries. We are global market leaders in most lines of business we serve and drive significant growth from bundling these services, while helping our clients optimize real estate costs, value, investment returns and workplace experiences. These capabilities, combined with our extensive research and data platform, allow us to generate superior outcomes for our clients, which include nearly 90% of Fortune 100 companies in 2023, and many of the world's largest institutional real estate investors. The future growth opportunity across our company is enhanced by the large and expanding base of commercial real estate assets globally. We are focused on cementing our leadership position in each of our businesses with a strategy that achieves diversification and growth across four dimensions: geographies, clients, property types and services. We are committed to deploying our resources and capital across these four dimensions in parts of our business that have secular tailwinds and/or provide cyclical resilience. Examples of this include our recent investments in the global project management firm, Turner & Townsend, and the flexible office platform, Industrious, as well as increased focus on geographies that are well positioned for growth, such as Japan and asset classes such as industrial and multi-family. As a result, we have built a large and more resilient services offering. Our platform – the resources and infrastructure that support our professionals and underpin our growth, such as research, marketing, data and technology – combined with our balance sheet strength, provide us access to top talent and compelling growth opportunities. Business Segments We serve clients through three business

View Full Filing

View this 10-K filing on SEC EDGAR