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Business Segments (Tables)
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Summarized Unaudited Financial Information by Business Segments
Summarized financial information by business segment is as follows.
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2024202320242023
Markets Advisory  
Leasing$619.1 591.4 $1,116.4 1,078.4 
Property Management436.6 409.9 866.3 810.1 
Advisory, Consulting and Other23.1 24.1 46.2 43.3 
Revenue$1,078.8 1,025.4 $2,028.9 1,931.8 
Depreciation and amortization(1)
$16.5 16.5 $32.9 32.6 
Equity (losses) earnings$— (0.1)$0.4 0.2 
Adjusted EBITDA$129.6 99.4 $224.9 171.0 
Capital Markets  
Investment Sales, Debt/Equity Advisory and Other$320.3 319.5 $579.0 560.1 
Value and Risk Advisory95.8 89.5 176.0 168.6 
Loan Servicing41.5 39.0 80.2 76.4 
Revenue$457.6 448.0 $835.2 805.1 
Depreciation and amortization$17.3 16.2 $33.7 32.1 
Equity earnings$0.5 4.8 $0.6 5.4 
Adjusted EBITDA$33.8 36.0 $58.8 46.7 
Work Dynamics
Workplace Management$3,021.1 2,553.4 $5,892.8 5,050.6 
Project Management788.1 703.2 1,444.5 1,379.5 
Portfolio Services and Other124.1 118.0 235.5 220.7 
Revenue$3,933.3 3,374.6 $7,572.8 6,650.8 
Depreciation and amortization$20.8 19.9 $41.5 39.2 
Equity earnings$0.4 0.8 $1.1 1.2 
Adjusted EBITDA$71.1 56.2 $122.0 81.9 
JLL Technologies
Revenue$56.4 60.6 $110.3 122.0 
Depreciation and amortization$4.8 4.1 $9.3 8.0 
Adjusted EBITDA(2)
$(10.9)(1.3)$(16.0)(19.5)
Equity losses$(9.0)(103.9)$(10.0)(99.0)
LaSalle  
Advisory fees$93.1 103.1 $185.4 203.6 
Transaction fees and other6.9 5.0 15.8 15.4 
Incentive fees2.6 35.8 4.8 39.3 
Revenue$102.6 143.9 $206.0 258.3 
Depreciation and amortization$2.0 2.3 $4.0 3.6 
Adjusted EBITDA(2)
$22.7 34.8 $43.7 57.9 
Equity losses$(7.3)(5.1)$(11.2)(13.9)
(1) Excludes the noncontrolling interest portion of amortization of acquisition-related intangibles which is not attributable to common shareholders.
(2) JLL Technologies and LaSalle Adjusted EBITDA excludes Equity earnings/losses.
The following table is a reconciliation of Adjusted EBITDA to Net income (loss) attributable to common shareholders.
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2024202320242023
Adjusted EBITDA - Markets Advisory$129.6 99.4 $224.9 171.0 
Adjusted EBITDA - Capital Markets33.8 36.0 58.8 46.7 
Adjusted EBITDA - Work Dynamics71.1 56.2 122.0 81.9 
Adjusted EBITDA - JLL Technologies(10.9)(1.3)(16.0)(19.5)
Adjusted EBITDA - LaSalle22.7 34.8 43.7 57.9 
Adjusted EBITDA - Consolidated$246.3 225.1 $433.4 338.0 
Adjustments:
Restructuring and acquisition charges$(11.5)(11.8)$(13.2)(47.5)
Net loss on disposition— (1.8)— (1.8)
Interest on employee loans, net of forgiveness1.3 0.9 2.3 0.7 
Equity earnings (losses) - JLL Technologies and LaSalle(16.3)(109.0)(21.2)(112.9)
Net non-cash MSR and mortgage banking derivative activity(11.8)(0.6)(20.8)(2.4)
Interest expense, net of interest income(41.7)(40.5)(72.2)(66.8)
Income tax (provision) benefit(20.5)(0.8)(36.4)1.5 
Depreciation and amortization(1)
(61.4)(59.0)(121.4)(115.5)
Net income (loss) attributable to common shareholders$84.4 2.5 $150.5 (6.7)
(1) This adjustment excludes the noncontrolling interest portion of amortization of acquisition-related intangibles which is not attributable to common shareholders.