XML 38 R25.htm IDEA: XBRL DOCUMENT v3.23.3

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The fair value and carrying value of our debt are presented in the following table.

(in millions)			September 30, 2023						December 31, 2022
Long-term debt, fair value			$	357.8					360.9
Long-term debt, carrying value, net of debt issuance costs			369.5						372.8

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table categorizes by level in the fair value hierarchy the estimated fair value of our assets and liabilities measured at fair value on a recurring basis.

			September 30, 2023												December 31, 2022
(in millions)			Level 1			Level 2			Level 3						Level 1			Level 2			Level 3
Assets
Investments - fair value			$	46.3		—			438.7						58.3			—			452.0
Foreign currency forward contracts receivable			—			3.3			—						—			3.7			—
Warehouse receivables			—			705.2			—						—			463.2			—
Deferred compensation plan assets			—			590.3			—						—			517.9			—
Mortgage banking derivative assets			—			—			214.1						—			—			190.2
Total assets at fair value			$	46.3		1,298.8			652.8						58.3			984.8			642.2
Liabilities
Foreign currency forward contracts payable			$	—		8.3			—						—			4.8			—
Deferred compensation plan liabilities			—			540.4			—						—			485.4			—
Earn-out liabilities			—			—			64.2						—			—			73.2
Mortgage banking derivative liabilities			—			—			183.2						—			—			169.5
Total liabilities at fair value			$	—		548.7			247.4						—			490.2			242.7

Foreign currency forward contracts, gross notional value and net basis

The following table details the gross notional value and net basis of these contracts.

(in billions)			September 30, 2023						December 31, 2022
Foreign currency forward contracts, gross notional value			$	1.73					1.81
Foreign currency forward contracts, net basis			1.19						1.02

Schedule of Foreign Exchange Contracts, Statement of Financial Position

The outstanding balances of these contracts are presented in the following table.

(in millions)			September 30, 2023						December 31, 2022
Net asset, receivable positions			$	3.4					7.7
Net asset, payable positions			(0.1)						(4.0)
Foreign currency forward contracts receivable			$	3.3					3.7
Net liability, receivable positions			$	(1.4)					(1.6)
Net liability, payable positions			9.7						6.4
Foreign currency forward contracts payable			$	8.3					4.8

Schedule of Deferred Compensation Plan Components [Table]

The components of the plan are presented in the following table.

(in millions)			September 30, 2023						December 31, 2022
Deferred compensation plan assets			$	590.3					517.9
Long-term deferred compensation plan liabilities			540.4						485.4
Shares held in trust			11.4						9.8

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The tables below present a reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3).

(in millions)			Balance as of June 30, 2023			Net change in fair value			Foreign CTA(1)			Purchases / Additions			Settlements			Transfers in(2)						Balance as of September 30, 2023
Investments			$	438.1		(2.0)			(1.0)			0.5			—			3.1						$	438.7
Mortgage banking derivative assets and liabilities, net			59.1			18.0			—			25.3			(71.5)			—						30.9
Earn-out liabilities			64.3			0.1			(0.1)			—			(0.1)			—						64.2

(in millions)			Balance as of June 30, 2022			Net change in fair value			Foreign CTA(1)			Purchases / Additions			Settlements			Transfers out						Balance as of September 30, 2022
Investments			$	460.4		2.5			—			1.8			—			(11.2)						$	453.5
Mortgage banking derivative assets and liabilities, net			21.6			34.1			—			33.6			(29.0)			—						60.3
Earn-out liabilities			74.9			(0.1)			(0.3)			3.3			(1.2)			—						76.6

(in millions)			Balance as of December 31, 2022			Net change in fair value			Foreign CTA(1)			Purchases / Additions			Settlements			Transfers in(2)						Balance as of September 30, 2023
Investments			$	452.0		(101.0)			0.2			20.6			—			66.9						$	438.7
Mortgage banking derivative assets and liabilities, net			20.7			56.9			—			93.8			(140.5)			—						30.9
Earn-out liabilities			73.2			(0.5)			0.1			—			(8.6)			—						64.2

(in millions)			Balance as of December 31, 2021			Net change in fair value			Foreign CTA(1)			Purchases / Additions			Settlements			Transfers out						Balance as of September 30, 2022
Investments			$	303.5		65.0			—			96.2			—			(11.2)						$	453.5
Mortgage banking derivative assets and liabilities, net			21.9			56.7			—			119.6			(137.9)			—						60.3
Earn-out liabilities			84.1			0.2			(0.7)			5.3			(12.3)			—						76.6

(1) CTA: Currency translation adjustments

(2) Notes receivable (inclusive of accrued interest) converted to equity upon maturity and was classified as a Level 3 investment immediately.

Fair Value, Qualitative Disclosures About Assets and Liabilities using Unobservable Inputs

Net change in fair value, included in the tables above, is reported in Net income as follows.

Category of Assets/Liabilities using Unobservable Inputs			Condensed Consolidated Statements of Comprehensive Income Account Caption
Earn-out liabilities (Short-term and Long-term)			Restructuring and acquisition charges
Investments			Equity (losses) earnings
Other current assets - Mortgage banking derivative assets			Revenue
Other current liabilities - Mortgage banking derivative liabilities			Revenue

X

- Definition

Foreign currency forward contracts, gross notional value and net basis

+ References

No definition available.

+ Details

Name:	jll_ForeignCurrencyForwardContractsGrossNotionalValueAndNetBasisTableTextBlock
Namespace Prefix:	jll_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of Deferred Compensation Plan Components

+ References

No definition available.

+ Details

Name:	jll_ScheduleOfDeferredCompensationPlanComponentsTableTextBlock
Namespace Prefix:	jll_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (b)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the presentation of foreign exchange contracts on the statement of financial position, including the fair value amounts and location of such amounts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B

+ Details

Name:	us-gaap_ScheduleOfForeignExchangeContractsStatementOfFinancialPositionTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration