Real Estate: Business combinations (ASC 805)

The acquired assets and assumed liabilities of Pearce were recorded at their estimated fair values. The purchase price allocation for the business combination is primarily for intangible assets acquired, and subject to change within the respective measurement period, which will not extend beyond one year from the acquisition date. Measurement period adjustments will be recognized in the reporting period in which the adjustment amounts are determined. Any such adjustments may be material.

CBRE GROUP, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

The following table summarizes the fair values assigned to the identified assets acquired and liabilities assumed at the acquisition date on November 4, 2025 (dollars in millions):

Assets Acquired:
Current assets	193
Property, plant & equipment	16
Intangible assets	600
Goodwill	608
Right-of-use and other assets	46
Total assets acquired	1,463
Liabilities Assumed:
Current liabilities	126
Deferred tax and other liabilities	149
Total liabilities assumed	275
Estimated Fair Value of Net Assets Acquired	1,188

In connection with the Pearce acquisition, below is a summary of the value allocated to the intangible assets acquired (dollars in millions):