CBRE GROUP, INC.
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 12, 2026
CBRE$134.79-2.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income | $1,277 | $1,036 | $1,027 |
| Reconciliation of net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 729 | 674 | 622 |
| Amortization of other assets | 199 | 195 | 168 |
| Net non-cash mortgage servicing rights and premiums on loan sales | (187) | (162) | (102) |
| Deferred income taxes | (269) | (194) | (121) |
| Stock-based compensation expense | 120 | 146 | 96 |
| Equity (income) loss from investments | (40) | 19 | (248) |
| Gain on sale of real estate assets | (459) | (142) | (27) |
| Other non-cash adjustments | 227 | 8 | (18) |
| Changes in: | |||
| Sale of mortgage loans | 15,135 | 12,817 | 9,714 |
| Origination of mortgage loans | (16,163) | (12,668) | (9,905) |
| Warehouse lines of credit | 1,057 | (114) | 218 |
| Receivables, prepaid expenses and other assets | (882) | (597) | (702) |
| Accounts payable, accrued liabilities and other liabilities | 570 | 566 | 34 |
| Accrued compensation expenses | 285 | 206 | (173) |
| Income taxes, net | (40) | (82) | (103) |
| Net cash provided by operating activities | 1,559 | 1,708 | 480 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Capital expenditures | (366) | (307) | (305) |
| Payments for business acquired, net of cash acquired | (1,374) | (1,067) | (203) |
| Capital contributions related to investments | (161) | (136) | (127) |
| Acquisition and development of real estate assets | (390) | (389) | (171) |
| Proceeds from disposition of real estate assets | 509 | 235 | 77 |
| Other investing activities, net | 155 | 150 | 48 |
| Net cash used in investing activities | (1,627) | (1,514) | (681) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from revolving credit facility | — | 4,173 | 4,006 |
| Repayment of revolving credit facility | (132) | (4,041) | (4,184) |
| Proceeds from commercial paper, net | 677 | 175 | — |
| Proceeds from long-term debt | 2,410 | 495 | 1,723 |
| Repayment of long-term debt | (670) | (9) | (437) |
| Repurchase of common stock | (968) | (627) | (665) |
| Other financing activities, net | (521) | (387) | (289) |
| Net cash provided by (used in) financing activities | 796 | (221) | 154 |
| Effect of currency exchange rate changes on cash and cash equivalents and restricted cash | 65 | (123) | 13 |
| NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 793 | (150) | (34) |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, AT BEGINNING OF PERIOD | 1,221 | 1,371 | 1,405 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH, AT END OF PERIOD | $2,014 | $1,221 | $1,371 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | |||
| Cash paid during the period for: | |||
| Interest | $448 | $396 | $191 |
| Income tax payments, net | $599 | $467 | $467 |
| Non-cash investing and financing activities: | |||
| Deferred and/or contingent consideration | $183 | $19 | $54 |
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