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Business Segments (Tables)

12 Months Ended

Dec. 31, 2023

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)			2023			2022			2021
Markets Advisory
Leasing			$	2,343.6		2,759.2			2,618.1
Property Management			1,675.1			1,525.3			1,437.9
Advisory, Consulting and Other			102.9			131.0			132.7
Revenue			$	4,121.6		4,415.5			4,188.7
Depreciation and amortization(1)			$	65.6		70.6			69.4
Equity (losses) earnings			$	(0.5)		(0.3)			0.7
Adjusted EBITDA			$	416.6		527.5			546.5
Capital Markets
Investment Sales, Debt/Equity Advisory and Other			$	1,261.6		1,955.4			2,111.0
Value and Risk Advisory			363.8			374.9			369.3
Loan Servicing			152.6			157.9			140.2
Revenue			$	1,778.0		2,488.2			2,620.5
Depreciation and amortization			$	65.6		61.6			63.1
Equity earnings			$	6.7		3.1			4.9
Adjusted EBITDA			$	173.1		444.0			543.2

Work Dynamics
Workplace Management			$	10,706.2		9,819.2			8,731.5
Project Management			2,924.8			2,972.3			2,684.9
Portfolio Services and Other			500.1			477.0			475.1
Revenue			$	14,131.1		13,268.5			11,891.5
Depreciation and amortization			$	79.2		71.1			66.2
Equity earnings			$	1.4		1.2			0.4
Adjusted EBITDA			$	264.0		230.1			182.4
JLL Technologies
Revenue			$	246.4		213.9			166.2
Depreciation and amortization			$	15.9		15.4			10.5
Equity (losses) earnings			$	(177.0)		46.6			140.7
Adjusted EBITDA			$	(196.1)		(50.9)			53.4
LaSalle
Advisory fees			$	406.2		404.6			364.7
Transaction fees and other			30.0			44.8			41.5
Incentive fees			47.5			26.6			93.9
Revenue			$	483.7		476.0			500.1
Depreciation and amortization			$	8.1		6.5			8.3
Equity (losses) earnings			$	(24.7)		0.4			62.7
Adjusted EBITDA			$	79.1		96.6			171.0

(1) 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 segment revenue to consolidated revenue.

			Year Ended December 31,
(in millions)			2023			2022			2021
Markets Advisory			$	4,121.6		4,415.5			4,188.7
Capital Markets			1,778.0			2,488.2			2,620.5
Work Dynamics			14,131.1			13,268.5			11,891.5
JLL Technologies			246.4			213.9			166.2
LaSalle			483.7			476.0			500.1
Total revenue			$	20,760.8		20,862.1			19,367.0

The following table is a reconciliation of Adjusted EBITDA to Net income attributable to common shareholders.

			Year Ended December 31,
(in millions)			2023			2022			2021
Adjusted EBITDA - Markets Advisory			$	416.6		527.5			546.5
Adjusted EBITDA - Capital Markets			173.1			444.0			543.2
Adjusted EBITDA - Work Dynamics			264.0			230.1			182.4
Adjusted EBITDA - JLL Technologies			(196.1)			(50.9)			53.4
Adjusted EBITDA - LaSalle			79.1			96.6			171.0
Adjusted EBITDA - Consolidated			$	736.7		1,247.3			1,496.5
Adjustments:
Restructuring and acquisition charges			$	(100.7)		(104.8)			(84.7)
Net (loss) gain on disposition			(0.5)			(7.5)			12.4
Interest on employee loans, net			3.6			9.7			—
Net non-cash MSR and mortgage banking derivative activity			(18.2)			11.0			59.3
Interest expense, net of interest income			(135.4)			(75.2)			(40.1)
Income tax provision			(25.7)			(200.8)			(264.3)
Depreciation and amortization(1)			(234.4)			(225.2)			(217.5)
Net income attributable to common shareholders			$	225.4		654.5			961.6

(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)			2023			2022			2021
United States dollar			$	12,258.9		12,375.9			11,283.1
British pound			1,640.0			1,575.6			1,626.6
Euro			1,436.1			1,535.6			1,393.3
Australian dollar			1,036.9			1,183.0			1,118.7
Indian rupee			661.4			591.0			508.2
Canadian dollar			613.8			593.8			508.3
Hong Kong dollar			544.8			532.3			545.6
Chinese yuan			480.9			506.0			539.1
Singapore dollar			425.4			368.4			327.4
Japanese yen			286.6			233.8			256.8
Other currencies			1,376.0			1,366.7			1,259.9
Total revenue			$	20,760.8		20,862.1			19,367.0

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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.

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