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CBRE GROUP, INC. 8-K/A Report, Financial Results (Jul 31, 2020)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed July 31, 2020
Period End
July 31, 2020
Security
CBRE
In the record · 2016–202610-K1110-Q328-K149

CBRE filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 149 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’17Mar ’17
  2. Leadership change8-K · Apr ’19Apr ’19
  3. Leadership change8-K · Sep ’22Sep ’22
  4. Material agreement8-K · Jun ’26Jun ’26

01—Abstract

Summary

Summary of the 8-K/A filed July 31, 2020. Cited figures are marked; the original filing is the authoritative source.

This 8-K/A filing from CBRE Group, Inc. serves to correct a material error in their previously filed 8-K regarding second quarter 2020 financial results.

The amendment specifically rectifies a press release statement that misrepresented the company's cash position. The critical correction is that CBRE Group, Inc. had approximately $1.1 billiona in cash as of June 30, 2020, not $1.1 million.

This significantly impacts the understanding of the company's liquidity. The total liquidity, including revolving credit facilities, was approximately $3.5 billionb, with $1.1 billion in cash and $2.3 billion available under credit lines.

02—Key points

Key Highlights

  1. Correction of a significant clerical error in the previous 8-K filing regarding Q2 2020 results.
  2. The company's cash balance as of June 30, 2020, was corrected to $1.1 billion, a substantial improvement from the previously stated $1.1 million.
  3. Total liquidity as of June 30, 2020, stands at approximately $3.5 billion.
  4. The corrected liquidity figure comprises $1.1 billion in cash and approximately $2.3 billion available under revolving credit facilities.
  5. The amendment provides a corrected press release as Exhibit 99.1.
  6. This filing does not introduce any new financial information beyond the correction of the liquidity disclosure.

03—Questions

Frequently Asked Questions

  1. What was the primary reason for this 8-K filing?

    This filing is an amendment (8-K/A) to correct a significant clerical error in a previous 8-K filing. The error incorrectly stated the company's cash balance.

  2. What was the specific error that was corrected?

    The error was in the reported cash composition of total liquidity. It was incorrectly stated as $1.1 million in cash, when it should have been $1.1 billion in cash as of June 30, 2020.

  3. What is the company's total liquidity as of June 30, 2020?

    As of June 30, 2020, CBRE Group, Inc. had approximately $3.5 billion in total liquidity. This includes about $1.1 billion in cash and the ability to borrow approximately $2.3 billion under its revolving credit facilities.

  4. Does this filing introduce any new financial performance data for Q2 2020?

    No, this filing solely corrects a previously disclosed liquidity figure. It does not provide any new financial performance data or updates beyond rectifying the error in the cash and liquidity statement.

04—Continue

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