Cbre group, inc. (CBRE)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11Dec'10Dec'09Dec'08
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income

1,291,450

1,065,948

703,576

585,170

558,877

513,503

348,795

304,787

290,325

156,009

-27,638

-1,049,741

Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization

439,224

451,988

406,114

366,927

314,096

265,101

190,390

170,905

116,930

108,962

99,473

102,909

Amortization and write-off of financing costs on extinguished debt

8,662

35,175

10,783

10,935

12,311

13,155

28,871

9,518

7,453

29,013

38,384

11,662

Goodwill and other non-amortizable intangible asset impairment

-

-

-

-

-

-

-

-

-

-

-

1,159,406

Write-down of impaired available for sale securities

-

-

-

-

-

-

-

-

-

-

-

7,686

Gains related to mortgage servicing rights, premiums on loan sales and sales of other assets

246,690

229,376

200,386

201,362

140,828

95,636

93,613

112,613

74,449

65,855

30,010

37,519

Amortization of debt discount

-

-

-

-

-

-

9,477

-

-

-

-

-

Non-amortizable intangible asset impairment

-

-

-

-

-

-

98,129

19,826

-

-

-

-

Write-down of impaired assets

-

-

-

-

-

8,615

-

32,322

4,337

27,147

38,550

60,504

Intangible asset impairment

89,787

-

-

-

-

-

-

-

-

-

-

-

Gain associated with remeasuring our investment in a joint venture entity to fair value at the date we acquired the remaining interest

-

100,420

-

-

-

-

-

-

-

-

-

-

Gains on disposition of real estate held for investment

-

-

-

9,901

8,573

28,005

13,552

683

41,805

21,248

2,721

-

Net realized and unrealized losses (gains), primarily from investments

28,907

-7,400

9,405

4,688

-3,809

11,237

13,523

11,093

2,706

-

-

-

Provision for doubtful accounts

20,373

19,760

8,044

4,711

10,211

8,165

9,579

6,509

9,754

4,661

9,226

32,735

Deferred income taxes

-

-

-

-9,403

-14,935

-28,469

-11,591

2,059

6,147

-

-

62,163

Compensation expense for equity awards

127,738

128,171

93,087

63,484

74,709

59,757

48,429

51,712

44,327

46,801

37,925

29,812

Gain on interest rate swaps

-

-

-

-

-

-

-

-

-

-

3,880

-

Equity income from unconsolidated subsidiaries

160,925

324,664

210,207

197,351

162,849

101,714

64,422

60,729

104,776

26,561

-34,095

-80,130

Incremental tax benefit from stock options exercised

-

-

-

-

-

1,218

9,891

2,930

14,936

5,380

1,586

4,294

Distribution of earnings from unconsolidated subsidiaries

199,011

336,925

211,855

195,702

36,630

27,903

33,302

20,199

20,794

33,874

13,509

-23,867

Proceeds from sale of mortgage loans

19,805,060

20,230,676

18,052,756

15,833,633

11,266,224

-

-

-

-

-

-

-

Origination of mortgage loans

19,389,979

20,591,602

17,655,104

15,297,471

12,488,511

-

-

-

-

-

-

-

Increase in warehouse lines of credit

-351,586

417,995

-343,887

-496,128

1,249,596

-

-

-

-

-

-

-

Deferred compensation deferrals

-

-

-

-

-

-

-

-

-

-

-

31,792

Tenant concessions received

-21,249

-38,400

-19,337

-22,547

-7,861

-18,343

-14,627

-23,260

-45,751

-4,608

-3,611

-11,209

Purchase of equity securities

83,001

99,789

110,570

87,765

85,707

71,021

137,311

203,126

144,919

-

-

-

Proceeds from sale of equity securities

46,949

75,120

68,547

105,866

78,798

74,237

191,121

190,220

219,739

-

-

-

Decrease (increase) in real estate under development

-34,776

4,586

-2,472

-

-

-

-

-

-

-

-

-

Proceeds from securities sold, not yet purchased

-

-

-

17,932

16,014

2,271

52,472

151,145

197,595

-

-

-

Securities purchased to cover short sales

-

-

-

19,017

13,147

453

110,588

151,282

189,456

-

-

-

Decrease (increase) in receivables, prepaid expenses and other assets (including contract and lease assets)

824,490

773,361

534,190

336,342

230,307

307,979

76,946

142,786

123,669

180,129

13,379

-230,479

Decrease in deferred compensation assets

-

-

-

-

-

-

-

-

-

-

-221,317

-37,729

Increase in prepaid expenses and other assets

-

-

-

-

84,997

47,015

33,355

22,097

13,238

5,520

-20,045

23,356

(Increase) decrease in real estate held for sale and under development

-

-

-

-

16,003

-47,276

-168,133

759

-84,731

-26,457

-2,946

-7,865

Decrease in accounts payable and accrued expenses and other liabilities (including contract and lease liabilities)

306,677

273,782

159,145

15,382

177,567

31,526

40,200

43,475

-62,850

45,145

-11,306

-102,984

Decrease in compensation and employee benefits payable and accrued bonus and profit sharing

244,895

270,371

148,714

123,653

115,805

344,987

102,439

-1,155

81,380

277,529

-37,551

-505,575

Decrease (increase) in net income taxes receivable/payable

274,436

47,074

-108,151

6,334

-43,085

43,194

-3,077

27,729

4,891

-142,090

-72,276

79,948

Increase (decrease) in other liabilities

-

-

-

-

-15,543

589

-6,808

7,715

15,940

17,239

-250,270

-90,597

Other operating activities, net

52,457

49,590

34,421

63,195

52,296

17,707

18,067

5,589

6,289

-1,745

-629

1,981

Net cash used in operating activities

1,223,380

1,131,249

894,411

616,985

651,897

661,780

745,108

291,081

361,219

616,587

213,645

-130,373

CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures

293,514

227,803

178,042

191,205

139,464

171,242

156,358

150,232

147,980

68,464

28,200

51,471

Acquisition of Clarion Real Estate Securities and substantially all of the ING Group N.V. operations in Europe and Asia (collectively the REIM Acquisitions), including net assets acquired, intangibles and goodwill, net of cash acquired

-

-

-

-

-

-

-

-

580,895

-

-

-

Acquisition of Global Workplace Solutions (GWS), including net assets acquired, intangibles and goodwill, net of cash acquired

-

-

-

-

1,421,663

-

504,147

52,578

49,790

70,390

-

239,926

Acquisition of businesses, including net assets acquired, intangibles and goodwill, net of cash acquired

355,926

322,573

118,427

21,077

161,106

147,057

-

-

-

-

-

-

Contributions to unconsolidated subsidiaries

105,947

62,802

68,700

66,816

71,208

59,177

49,594

65,440

51,463

37,510

47,402

56,350

Distributions from unconsolidated subsidiaries

33,289

61,709

63,664

46,775

187,577

104,267

82,230

62,977

109,547

22,843

9,232

25,444

Net proceeds from disposition of real estate held for investment

-

-

-

44,326

3,584

77,278

113,241

60,805

231,678

76,504

3,408

-

Purchase of equity securities

12,017

21,402

15,584

15,506

-

-

-

-

-

-

-

-

Proceeds from sale of equity securities

15,623

16,314

15,587

16,954

-

-

-

-

-

-

-

-

Purchase of available for sale debt securities

8,853

23,360

19,280

22,155

-

-

-

-

-

-

-

-

Proceeds from the sale of available for sale debt securities

4,671

5,792

15,790

18,097

42,572

88,214

69,688

31,751

41,479

-

-

-

Additions to real estate held for investment

-

-

-

-

-

10,961

2,559

6,181

15,473

16,551

26,656

128,487

Proceeds from the sale of servicing rights and other assets

-

-

-

-

-

25,541

32,016

40,206

27,035

28,944

12,283

29,156

Decrease (increase) in restricted cash

-

-

-

-

49,012

-30,889

-8,469

16,205

1,696

-4,047

10,543

-5,973

Decrease in cash due to deconsolidation of CBRE Clarion U.S., L.P. (see Note 3)

-

-

-

-

-

-

-

73,187

-

-

-

-

Purchase of available for sale securities

-

-

-

-

40,287

89,885

65,111

36,355

45,281

-

-

-

Other investing activities, net

-1,650

-13,441

-2,392

-40,083

-30,048

-577

-7,131

-6,768

-2,584

1,926

814

3,348

Net cash used in investing activities

-721,024

-560,684

-302,600

-150,524

-1,618,959

-151,556

-464,994

-197,671

-480,255

-62,503

-119,362

-419,009

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from senior term loans

300,000

1,002,745

200,000

-

900,000

-

715,000

-

1,100,739

650,000

-

300,000

Repayment of senior term loans

300,000

450,000

751,876

136,250

657,488

39,650

1,639,017

68,146

47,503

1,693,110

432,000

13,250

Proceeds from revolving credit facility

3,609,000

3,258,000

1,521,000

2,909,000

2,643,500

1,873,568

610,562

41,270

1,032,624

106,759

800,928

2,024,762

Repayment of revolving credit facility

3,609,000

3,258,000

1,521,000

2,909,000

2,648,012

1,999,422

542,150

15,230

1,005,132

110,657

772,721

2,208,645

Proceeds from issuance of senior notes, net

-

-

-

-

595,440

426,875

800,000

-

-

350,000

-

-

Repayment of 5.00% senior notes (including premium)

-

820,000

-

-

-

350,000

-

-

-

-

-

-

Proceeds from notes payable on real estate

-

-

-

25,001

-

-

-

-

-

-

-

-

Repayment of notes payable on real estate

-

-

-

38,046

-

-

-

-

-

-

-

-

Repurchase of common stock

145,137

161,034

-

-

-

-

-

-

-

-

-

-

Acquisition of businesses (cash paid for acquisitions more than three months after purchase date)

-42,147

-18,660

-24,006

21,034

-

-

-

-

-

-

-

-

Repayment of 11.625% senior subordinated notes

-

-

-

-

-

-

450,000

-

-

-

-

-

Proceeds from 11.625% senior subordinated notes, net

-

-

-

-

-

-

-

-

-

-

435,928

-

Proceeds from notes payable on real estate held for investment

-

-

-

-

-

5,022

2,762

4,652

10,300

20,631

16,690

115,676

Repayment of notes payable on real estate held for investment

-

-

-

-

1,576

27,563

74,544

54,036

186,636

81,906

7,185

16,427

Proceeds from notes payable on real estate held for sale and under development

-

-

-

-

20,879

8,274

9,526

22,276

8,454

3,671

63,040

144,296

Repayment of notes payable on real estate held for sale and under development

-

-

-

-

1,186

80,218

136,528

21,345

79,271

14,341

46,642

142,222

Units repurchased for payment of taxes on equity awards

18,426

29,386

29,549

27,426

24,523

16,685

16,628

-

-

-

-

-

Repayment of short-term borrowings and other loans, net

-

-

-

-

-

-

-

-

-

6,048

4,310

44,563

Proceeds from issuance of common stock, net

-

-

-

-

-

-

-

-

-

-

440,173

206,700

Proceeds from exercise of stock options

-

-

-

-

-

6,203

5,780

20,324

7,136

2,401

15,443

4,026

Incremental tax benefit from stock options exercised

-

-

-

-

-

1,218

9,891

2,930

14,936

5,380

1,586

4,294

Non-controlling interest contributions

46,612

25,355

5,301

2,272

5,909

2,938

1,092

16,075

10,231

29,172

21,348

48,533

Non-controlling interest distributions

3,957

13,413

8,715

19,133

16,582

33,971

128,168

48,162

129,686

11,406

13,496

37,646

Payment of financing costs

-

-

-

5,618

30,664

5,947

29,322

359

24,738

34,430

39,402

10,893

Other financing activities, net

1,793

-15,912

-18,897

-443

3,851

-2,711

-4,537

-938

-129

-338

-2,612

-682

Net cash (used in) provided by financing activities

-271,949

-506,600

-627,742

-220,677

789,548

-232,069

-866,281

-100,689

711,325

-784,222

476,768

373,959

Effect of currency exchange rate changes on cash and cash equivalents and restricted cash

-606

-24,840

29,338

-27,539

-22,967

-29,183

-11,218

33,947

-5,681

-4,845

-11,683

-8,628

NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH

229,801

39,125

-6,593

218,245

-200,481

248,972

-597,385

-3,885

586,608

-234,983

582,734

-184,051

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest

86,666

104,165

117,164

125,800

88,078

118,749

117,150

161,945

138,035

169,410

168,577

148,826

Income tax (refunds) payments, net

365,065

375,849

356,997

294,848

285,730

331,257

203,402

217,956

189,917

-11,499

-48,355

197,353

Telford Homes Plc [Member]
Repayment of debt assumed in acquisition

110,687

-

-

-

-

-

-

-

-

-

-

-

FacilitySource [Member]
Repayment of debt assumed in acquisition

-

26,295

-

-

-

-

-

-

-

-

-

-