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Business Segments
 9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Business Segments BUSINESS SEGMENTS
We manage and report our operations as four business segments:
The three geographic regions of RES including:
(1) Americas,
(2) Europe, Middle East and Africa ("EMEA"), and
(3) Asia Pacific;
and
(4) LaSalle.
Each geographic region offers our full range of real estate services, including agency leasing and tenant representation, capital markets, property and facility management, project and development management, energy management and sustainability, construction management, and advisory, consulting and valuation services. LaSalle provides investment management services on a global basis to institutional investors and high-net-worth individuals.
We allocate all indirect expenses to our segments, other than interest and income taxes, as nearly all expenses incurred benefit one or more of the segments. Allocated expenses primarily consist of corporate global overhead, which we allocate to the business segments based on the budgeted operating expenses of each segment.
Segment income does not include (i) restructuring and acquisition charges, (ii) interest expense, net of interest income, (iii) other income, and (iv) provision for income tax, which are otherwise included in Net income on the Consolidated Statements of Comprehensive Income.
The Chief Operating Decision Maker of JLL measures and evaluates the segment results based on Segment income for purposes of making decisions about allocating resources and assessing performance.
Summarized financial information by business segment is as follows.
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2021202020212020
Americas  
Leasing$594.6 325.2 $1,442.5 1,022.2 
Capital Markets421.2 190.8 934.1 579.0 
Property & Facility Management1,564.8 1,433.3 4,576.8 4,331.6 
Project & Development Services389.2 336.2 962.0 917.9 
Advisory, Consulting and Other113.4 95.3 313.2 282.2 
Revenue$3,083.2 2,380.8 $8,228.6 7,132.9 
Depreciation and amortization$33.2 36.4 $100.6 112.9 
Equity earnings$7.6 4.8 $58.6 20.4 
Segment income$285.6 140.0 $637.2 277.1 
EMEA  
Leasing$80.6 58.5 $209.0 153.3 
Capital Markets110.4 73.3 284.0 196.5 
Property & Facility Management368.5 348.7 1,074.5 1,044.2 
Project & Development Services207.2 190.8 595.7 558.3 
Advisory, Consulting and Other63.3 72.5 192.8 173.6 
Revenue$830.0 743.8 $2,356.0 2,125.9 
Depreciation and amortization$10.3 9.8 $32.2 28.0 
Equity earnings $— 0.8 $— 0.8 
Segment loss$(10.3)(1.9)$(45.8)(55.8)
Asia Pacific
Leasing$63.6 46.6 $147.7 105.8 
Capital Markets43.4 20.4 125.7 66.1 
Property & Facility Management567.3 521.3 1,729.9 1,568.5 
Project & Development Services111.5 104.5 319.7 296.5 
Advisory, Consulting and Other60.4 50.4 176.9 133.7 
Revenue$846.2 743.2 $2,499.9 2,170.6 
Depreciation and amortization$7.5 6.9 $22.4 20.5 
Equity earnings$1.4 0.9 $3.4 0.7 
Segment income$20.9 35.8 $75.2 57.4 
LaSalle  
Advisory fees$97.3 84.6 $270.4 251.1 
Transaction fees & other10.2 17.7 28.9 36.1 
Incentive fees22.3 8.0 37.5 27.9 
Revenue$129.8 110.3 $336.8 315.1 
Depreciation and amortization$1.8 1.8 $5.1 5.4 
Equity earnings (losses)$8.4 8.5 $44.7 (20.5)
Segment income$29.7 29.5 $88.9 28.8 
The following table is a reconciliation of Segment income to consolidated Operating income.
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2021202020212020
Segment income - Americas$285.6 140.0 $637.2 277.1 
Segment loss - EMEA(10.3)(1.9)(45.8)(55.8)
Segment income - APAC20.9 35.8 75.2 57.4 
Segment income - LaSalle29.7 29.5 88.9 28.8 
Less: Equity earnings(17.4)(15.0)(106.7)(1.4)
Add: Restructuring and acquisition charges(15.6)(33.5)(50.9)(75.8)
Operating income$292.9 154.9 $597.9 230.3