XML 58 R24.htm IDEA: XBRL DOCUMENT
v3.22.4

Business Segments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Segment Reporting [Abstract] |
Summary of financial information by business segment | Summarized financial information by business segment is as follows.
| Year Ended December 31,
(in millions) | 2022 | 2021 | 2020
Markets Advisory |  |  |
Leasing | $ | 2,759.2 |  | 2,618.1 |  | 1,747.8 |
Property Management | 1,525.3 |  | 1,437.9 |  | 1,317.9 |
Advisory, Consulting and Other | 131.0 |  | 132.7 |  | 121.3 |
Revenue | $ | 4,415.5 |  | 4,188.7 |  | 3,187.0 |
Depreciation and amortization(1) | $ | 70.6 |  | 69.4 |  | 68.0 |
Equity (losses) earnings | $ | (0.3) |  | 0.7 |  | 13.7 |
Adjusted EBITDA | $ | 527.5 |  | 546.5 |  | 337.8 |
Capital Markets |  |  |
Investment Sales, Debt/Equity Advisory and Other | $ | 1,955.4 |  | 2,111.0 |  | 1,341.1 |
Valuation Advisory | 374.9 |  | 369.3 |  | 311.0 |
Loan Servicing | 157.9 |  | 140.2 |  | 111.4 |
Revenue | $ | 2,488.2 |  | 2,620.5 |  | 1,763.5 |
Depreciation and amortization | $ | 61.6 |  | 63.1 |  | 69.8 |
Equity earnings | $ | 3.1 |  | 4.9 |  | 1.4 |
Adjusted EBITDA | $ | 444.0 |  | 543.2 |  | 247.8 |
Work Dynamics |  |  |
Workplace Management | $ | 9,819.2 |  | 8,731.5 |  | 8,112.2 |
Project Management | 2,972.3 |  | 2,684.9 |  | 2,530.2 |
Portfolio Services and Other | 477.0 |  | 475.1 |  | 419.1 |
Revenue | $ | 13,268.5 |  | 11,891.5 |  | 11,061.5 |
Depreciation and amortization | $ | 71.1 |  | 66.2 |  | 68.0 |
Equity earnings (losses) | $ | 1.2 |  | 0.4 |  | (0.3) |
Adjusted EBITDA | $ | 230.1 |  | 182.4 |  | 227.6 |
JLL Technologies |  |  |
Revenue | $ | 213.9 |  | 166.2 |  | 156.1 |
Depreciation and amortization | $ | 15.4 |  | 10.5 |  | 11.3 |
Equity earnings | $ | 46.6 |  | 140.7 |  | 5.7 |
Adjusted EBITDA | $ | (50.9) |  | 53.4 |  | (33.1) |
LaSalle |  |  |
Advisory fees | $ | 404.6 |  | 364.7 |  | 336.4 |
Transaction fees and other | 44.8 |  | 41.5 |  | 43.9 |
Incentive fees | 26.6 |  | 93.9 |  | 41.5 |
Revenue | $ | 476.0 |  | 500.1 |  | 421.8 |
Depreciation and amortization | $ | 6.5 |  | 8.3 |  | 9.3 |
Equity earnings (losses) | $ | 0.4 |  | 62.7 |  | (12.5) |
Adjusted EBITDA | $ | 96.6 |  | 171.0 |  | 79.5 |
(1) This adjustment excludes the noncontrolling interest portion of amortization of acquisition-related intangibles which is not attributable to common shareholders. The following table is a reconciliation of Adjusted EBITDA to Net income attributable to common shareholders.
| Year Ended December 31,
(in millions) | 2022 | 2021 | 2020
Adjusted EBITDA - Markets Advisory | $ | 527.5 |  | 546.5 |  | 337.8 |
Adjusted EBITDA - Capital Markets | 444.0 |  | 543.2 |  | 247.8 |
Adjusted EBITDA - Work Dynamics | 230.1 |  | 182.4 |  | 227.6 |
Adjusted EBITDA - JLL Technologies | (50.9) |  | 53.4 |  | (33.1) |
Adjusted EBITDA - LaSalle | 96.6 |  | 171.0 |  | 79.5 |
Adjusted EBITDA - Consolidated | $ | 1,247.3 |  | 1,496.5 |  | 859.6 |
Adjustments: |  |  |
Restructuring and acquisition charges | $ | (104.8) |  | (84.7) |  | (142.4) |
Net (loss) gain on disposition | (7.5) |  | 12.4 |  | 4.8 |
Interest on employee loans, net | 9.7 |  | — |  | — |
Net non-cash MSR and mortgage banking derivative activity | 11.0 |  | 59.3 |  | 66.6 |
Interest expense, net of interest income | (75.2) |  | (40.1) |  | (52.8) |
Provision for income taxes | (200.8) |  | (264.3) |  | (106.9) |
Depreciation and amortization(1) | (225.2) |  | (217.5) |  | (226.4) |
Net income attributable to common shareholders | $ | 654.5 |  | 961.6 |  | 402.5 |
(1) This adjustment excludes the noncontrolling interest portion of amortization of acquisition-related intangibles which is not attributable to common shareholders.
Schedule of revenue from most significant currencies | The following table sets forth the revenue from our most significant currencies.
| Year Ended December 31,
(in millions) | 2022 | 2021 | 2020
United States dollar | $ | 12,375.9 |  | 11,283.1 |  | 9,457.8 |
British pound | 1,575.6 |  | 1,626.6 |  | 1,341.1 |
Euro | 1,535.6 |  | 1,393.3 |  | 1,350.6 |
Australian dollar | 1,183.0 |  | 1,118.7 |  | 876.1 |
Canadian dollar | 593.8 |  | 508.3 |  | 432.6 |
Indian rupee | 591.0 |  | 508.2 |  | 524.5 |
Hong Kong dollar | 532.3 |  | 545.6 |  | 512.2 |
Chinese yuan | 506.0 |  | 539.1 |  | 473.1 |
Singapore dollar | 368.4 |  | 327.4 |  | 246.6 |
Japanese yen | 233.8 |  | 256.8 |  | 257.9 |
Other currencies | 1,366.7 |  | 1,259.9 |  | 1,117.4 |
Total revenue | $ | 20,862.1 |  | 19,367.0 |  | 16,589.9 |

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration