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Business Segments (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Summarized Unaudited Financial Information by Business Segments
Summarized financial information by business segment is as follows.
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2024202320242023
Markets Advisory  
Leasing$665.4 547.7 $1,781.8 1,626.1 
Property Management452.3 419.2 1,318.6 1,229.3 
Advisory, Consulting and Other26.1 25.5 72.3 68.8 
Revenue$1,143.8 992.4 $3,172.7 2,924.2 
Depreciation and amortization(1)
$16.3 15.9 $49.2 48.5 
Equity earnings$0.1 0.1 $0.5 0.3 
Adjusted EBITDA$151.9 85.1 $376.8 256.1 
Capital Markets  
Investment Sales, Debt/Equity Advisory and Other$371.8 310.2 $950.8 870.3 
Value and Risk Advisory86.0 87.5 262.0 256.1 
Loan Servicing41.0 38.1 121.2 114.5 
Revenue$498.8 435.8 $1,334.0 1,240.9 
Depreciation and amortization$16.6 16.4 $50.3 48.5 
Equity earnings$0.2 0.7 $0.8 6.1 
Adjusted EBITDA$65.7 50.3 $124.5 97.0 
Work Dynamics
Workplace Management$3,164.6 2,637.1 $9,057.4 7,687.7 
Project Management771.3 747.0 2,215.8 2,126.5 
Portfolio Services and Other132.3 130.1 367.8 350.8 
Revenue$4,068.2 3,514.2 $11,641.0 10,165.0 
Depreciation and amortization$24.8 19.7 $66.3 58.9 
Equity earnings$1.0 0.1 $2.1 1.3 
Adjusted EBITDA$74.3 61.6 $196.3 143.5 
JLL Technologies
Revenue$56.7 58.9 $167.0 180.9 
Depreciation and amortization$4.9 3.9 $14.2 11.9 
Adjusted EBITDA(2)
$(7.8)(5.7)$(23.8)(25.2)
Equity earnings (losses)$11.6 (3.0)$1.6 (102.0)
LaSalle  
Advisory fees$92.7 102.7 $278.1 306.3 
Transaction fees and other8.6 7.4 24.4 22.8 
Incentive fees— — 4.8 39.3 
Revenue$101.3 110.1 $307.3 368.4 
Depreciation and amortization$1.9 2.2 $5.9 5.8 
Adjusted EBITDA(2)
$14.0 26.0 $57.7 83.9 
Equity losses$(13.8)(9.1)$(25.0)(23.0)
(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 attributable to common shareholders.
Three Months Ended September 30,Nine Months Ended September 30,
(in millions)2024202320242023
Adjusted EBITDA - Markets Advisory$151.9 85.1 $376.8 256.1 
Adjusted EBITDA - Capital Markets65.7 50.3 124.5 97.0 
Adjusted EBITDA - Work Dynamics74.3 61.6 196.3 143.5 
Adjusted EBITDA - JLL Technologies(7.8)(5.7)(23.8)(25.2)
Adjusted EBITDA - LaSalle14.0 26.0 57.7 83.9 
Adjusted EBITDA - Consolidated$298.1 217.3 $731.5 555.3 
Adjustments:
Restructuring and acquisition charges$8.8 (31.6)$(4.4)(79.1)
Net gain (loss) on disposition— 1.3 — (0.5)
Interest on employee loans, net of forgiveness1.8 1.6 4.1 2.3 
Equity earnings (losses) - JLL Technologies and LaSalle(2.2)(12.1)(23.4)(125.0)
Credit losses on convertible note investments(6.3)— (6.3)— 
Net non-cash MSR and mortgage banking derivative activity(5.1)(7.1)(25.9)(9.5)
Interest expense, net of interest income(38.1)(37.1)(110.3)(103.9)
Income tax provision(37.4)(14.5)(73.8)(13.0)
Depreciation and amortization(1)
(64.5)(58.1)(185.9)(173.6)
Net income attributable to common shareholders$155.1 59.7 $305.6 53.0 
(1) This adjustment excludes the noncontrolling interest portion of amortization of acquisition-related intangibles which is not attributable to common shareholders.