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Business Segments (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Summarized Unaudited Financial Information by Business Segments

Summarized financial information by business segment is as follows.

						Three Months Ended March 31,
(in millions)									2023			2022
Markets Advisory
Leasing									$	487.0		600.9
Property Management									400.2			370.5
Advisory, Consulting and Other									19.2			28.1
Revenue									$	906.4		999.5
Depreciation and amortization(1)									$	16.1		17.1
Equity earnings									$	0.3		0.5
Adjusted EBITDA									$	71.6		111.2
Capital Markets
Investment Sales, Debt/Equity Advisory and Other									$	240.6		476.1
Valuation Advisory									79.1			84.6
Loan Servicing									37.4			39.9
Revenue									$	357.1		600.6
Depreciation and amortization									$	15.9		15.6
Equity earnings									$	0.6		0.8
Adjusted EBITDA									$	10.7		118.2
Work Dynamics
Workplace Management									$	2,497.2		2,320.4
Project Management									676.3			612.3
Portfolio Services and Other									102.7			100.9
Revenue									$	3,276.2		3,033.6
Depreciation and amortization									$	19.3		16.5
Equity earnings									$	0.4		0.3
Adjusted EBITDA									$	25.7		35.2
JLL Technologies
Revenue									$	61.4		49.4
Depreciation and amortization									$	3.9		3.8
Equity earnings									$	4.9		18.8
Adjusted EBITDA									$	(13.3)		(12.3)
LaSalle
Advisory fees									$	100.5		97.0
Transaction fees and other									10.4			17.1
Incentive fees									3.5			4.2
Revenue									$	114.4		118.3
Depreciation and amortization									$	1.3		1.4
Equity losses									$	(8.8)		(1.9)
Adjusted EBITDA									$	14.3		21.3

(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.

						Three Months Ended March 31,
(in millions)									2023			2022
Adjusted EBITDA - Markets Advisory									$	71.6		111.2
Adjusted EBITDA - Capital Markets									10.7			118.2
Adjusted EBITDA - Work Dynamics									25.7			35.2
Adjusted EBITDA - JLL Technologies									(13.3)			(12.3)
Adjusted EBITDA - LaSalle									14.3			21.3
Adjusted EBITDA - Consolidated									$	109.0		273.6
Adjustments:
Restructuring and acquisition charges									$	(35.7)		(19.5)
Interest on employee loans, net of forgiveness									(0.2)			—
Net non-cash MSR and mortgage banking derivative activity									(1.8)			(3.6)
Interest expense, net of interest income									(26.3)			(10.2)
Income tax benefit (provision)									2.3			(40.3)
Depreciation and amortization(1)									(56.5)			(54.4)
Net (loss) income attributable to common shareholders									$	(9.2)		145.6

(1) This adjustment excludes the noncontrolling interest portion of amortization of acquisition-related intangibles which is not attributable to common shareholders.

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- 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

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