Cushman & Wakefield plc (CWK) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
125 OLD BROAD STREET LONDON, EC2N 1AR |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 65 - Real Estate (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 768 | 645 | 771 | 1,075 | 813 | 895 | |||
| Cash and cash equivalents | 768 | 645 | 771 | 1,075 | 813 | 895 | |||
| Restricted cash and investments | 34 | 75 | 120 | 89 | 59 | 70 | |||
| Receivables | 328 | 375 | 117 | 152 | 168 | 165 | |||
| Prepaid expense | |||||||||
| Contract with customer, asset, after allowance for credit loss | 311 | 358 | 319 | 248 | |||||
| Disposal group, including discontinued operation | |||||||||
| Other undisclosed current assets | 1,363 | 1,315 | 1,505 | 1,327 | 1,820 | 1,613 | |||
| Total current assets: | 2,803 | 2,767 | 2,830 | 2,891 | 2,861 | 2,743 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 339 | 358 | 414 | 438 | 491 | ✕ | |||
| Property, plant and equipment | 164 | 173 | 195 | 299 | 314 | ||||
| Long-term investments and receivables | 708 | 677 | 641 | 115 | 8 | 9 | |||
| Long-term investments | 708 | 677 | 641 | 115 | 8 | 9 | |||
| Intangible assets, net (including goodwill) | 2,887 | 2,940 | 3,004 | 3,089 | 3,032 | 2,907 | |||
| Goodwill | 2,081 | 2,066 | 2,082 | 2,098 | 1,969 | 1,779 | |||
| Intangible assets, net (excluding goodwill) | 806 | 875 | 922 | 991 | 1,063 | 1,128 | |||
| Deferred income tax assets | 67 | 59 | 66 | 61 | 87 | ✕ | |||
| Other noncurrent assets | 806 | 976 | 741 | 508 | 386 | 490 | |||
| Other undisclosed noncurrent assets | 236 | 84 | |||||||
| Total noncurrent assets: | 4,971 | 5,183 | 5,060 | 4,447 | 4,303 | 3,803 | |||
| TOTAL ASSETS: | 7,774 | 7,949 | 7,890 | 7,338 | 7,163 | 6,546 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 1,158 | 1,199 | 1,106 | 1,054 | 1,145 | 1,048 | |||
| Taxes payable | ✕ | ✕ | ✕ | 105 | 45 | 60 | 43 | ||
| Employee-related liabilities | ✕ | ✕ | ✕ | 976 | 721 | 889 | 818 | ||
| Accrued liabilities | 872 | 950 | |||||||
| Other undisclosed accounts payable and accrued liabilities | 286 | 249 | 25 | 289 | 197 | 187 | |||
| Debt | 150 | 50 | 42 | 40 | 39 | 40 | |||
| Restructuring reserve | 6 | 6 | 4 | 8 | 7 | ||||
| Disposal group, including discontinued operation | |||||||||
| Other liabilities | 218 | 192 | 205 | 206 | 190 | 90 | |||
| Other undisclosed current liabilities | 866 | 944 | 1,077 | 757 | 948 | 855 | |||
| Total current liabilities: | 2,397 | 2,390 | 2,435 | 2,066 | 2,323 | 2,039 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 3,119 | 3,212 | 3,615 | 3,641 | 3,077 | 2,644 | |||
| Long-term debt, excluding current maturities | 3,097 | 3,212 | 3,221 | 3,236 | 2,620 | 2,644 | |||
| Finance lease, liability | 22 | ✕ | |||||||
| Liabilities, other than long-term debt | 602 | 685 | 392 | 536 | 462 | 373 | |||
| Deferred income tax liabilities | 14 | 57 | 49 | 102 | 110 | ✕ | |||
| Restructuring reserve | 6 | ||||||||
| Other liabilities | 269 | 293 | 344 | 433 | 352 | 367 | |||
| Operating lease, liability | 320 | 335 | 395 | 406 | 457 | ✕ | |||
| Other undisclosed noncurrent liabilities | (22) | 130 | |||||||
| Total noncurrent liabilities: | 3,699 | 3,897 | 4,007 | 4,177 | 3,540 | 3,147 | |||
| Total liabilities: | 6,096 | 6,287 | 6,442 | 6,242 | 5,862 | 5,186 | |||
| Equity | |||||||||
| Equity, attributable to parent | 1,677 | 1,661 | 1,448 | 1,095 | 1,301 | 1,360 | |||
| Common stock | 23 | 23 | 22 | 22 | 22 | 22 | |||
| Treasury stock, value | (0) | ||||||||
| Additional paid in capital | 2,957 | 2,912 | 2,897 | 2,843 | 2,820 | 2,791 | |||
| Accumulated other comprehensive loss | (185) | (191) | (193) | (243) | (243) | (154) | |||
| Accumulated deficit | (1,117) | (1,082) | (1,278) | (1,528) | (1,297) | (1,298) | |||
| Equity, attributable to noncontrolling interest | 1 | 1 | 1 | 1 | |||||
| Total equity: | 1,678 | 1,662 | 1,449 | 1,096 | 1,301 | 1,360 | |||
| TOTAL LIABILITIES AND EQUITY: | 7,774 | 7,949 | 7,890 | 7,338 | 7,163 | 6,546 | |||
Income Statement (P&L) ($ in millions)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 9,494 | 10,106 | 9,389 | 7,844 | 8,751 | 8,220 | ||
| Cost of revenue | (7,851) | (8,160) | (7,471) | (6,719) | (7,278) | (6,482) | ||
| Cost of goods and services sold | (7,842) | (8,154) | (7,448) | (6,455) | (6,982) | |||
| Gross profit: | 1,643 | 1,946 | 1,918 | 1,125 | 1,473 | 1,738 | ||
| Operating expenses | (1,437) | (1,411) | (1,421) | (1,178) | (1,285) | (1,726) | ||
| Operating income (loss): | 206 | 535 | 497 | (53) | 187 | 13 | ||
| Nonoperating income (expense) (Other Nonoperating Income (Expense)) | (13) | (89) | 1 | 32 | 4 | 4 | ||
| Interest and debt expense | (281) | (193) | (180) | (164) | (151) | (229) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (88) | 253 | 319 | (185) | 40 | (213) | ||
| Income from equity method investments | 58 | 85 | 21 | 8 | 3 | 2 | ||
| Income (loss) from continuing operations before income taxes: | (30) | 338 | 340 | (177) | 43 | (211) | ||
| Income tax expense (benefit) | (5) | (142) | (90) | (44) | (43) | 25 | ||
| Income (loss) from continuing operations: | (35) | 196 | 250 | (221) | 0 | (186) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 250 | (221) | 0 | (186) | |
| Net income (loss) available to common stockholders, diluted: | (35) | 196 | 250 | (221) | 0 | (186) | ||
Comprehensive Income ($ in millions)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (35) | 196 | 250 | (221) | 0 | (186) | ||
| Other comprehensive income (loss) | (1) | 0 | (88) | (67) | ||||
| Comprehensive income (loss): | (35) | 196 | 249 | (220) | (88) | (253) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 6 | 2 | 50 | |||||
| Comprehensive income (loss), net of tax, attributable to parent: | (30) | 198 | 300 | (220) | (88) | (253) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.