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Business Combinations, Goodwill and Other Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2024
Schedule of Business Acquisitions, Pro Forma Revenue [Line Items]  
Summary of Earn-out Payments [Table Text Block]
Earn-Out Payments
($ in millions)September 30, 2024December 31, 2023
Number of acquisitions with earn-out payments subject to the achievement of certain performance criteria13 14 
Maximum earn-out payments (undiscounted)$108.9 100.0 
Short-term earn-out liabilities (fair value)(1)
11.3 12.0 
Long-term earn-out liabilities (fair value)(1)
23.9 45.5 
(1) Included in Other current and Other long-term liabilities on the Consolidated Balance Sheets.
Movements in Goodwill by Reporting Segment
The following table details, by reporting segment, movements in goodwill.
(in millions)Markets AdvisoryCapital MarketsWork DynamicsJLL TechnologiesLaSalleConsolidated
Balance as of December 31, 2023$1,759.3 1,986.4 537.7 247.7 56.3 $4,587.4 
Additions, net of adjustments— 3.4 40.4 — — 43.8 
Impact of exchange rate movements14.5 16.3 4.4 — 0.8 36.0 
Balance as of September 30, 2024$1,773.8 2,006.1 582.5 247.7 57.1 $4,667.2 
(in millions)Markets AdvisoryCapital MarketsWork DynamicsJLL TechnologiesLaSalleConsolidated
Balance as of December 31, 2022$1,742.9 1,949.2 532.6 247.7 55.6 $4,528.0 
Additions, net of adjustments— 18.7 — — — 18.7 
Dispositions(0.4)(0.2)— — — (0.6)
Impact of exchange rate movements(1.7)(2.0)(0.5)(0.1)— (4.3)
Balance as of September 30, 2023$1,740.8 1,965.7 532.1 247.6 55.6 $4,541.8 
Movements in Gross Carrying Amount and Accumulated Amortization of Finite-Lived Intangible Assets
The following tables detail, by intangible type, movements in the gross carrying amount and accumulated amortization of our identifiable intangibles.
(in millions)MSRsOther IntangiblesConsolidated
Gross Carrying Amount 
Balance as of December 31, 2023$801.8 546.2 $1,348.0 
Additions, net of adjustments52.0 15.5 67.5 
Adjustment for fully amortized intangibles(25.3)(9.9)(35.2)
Impact of exchange rate movements— 1.8 1.8 
Balance as of September 30, 2024$828.5 553.6 $1,382.1 
Accumulated Amortization 
Balance as of December 31, 2023$(309.8)(253.2)$(563.0)
Amortization expense, net(1)
(82.6)(49.5)(132.1)
Adjustment for fully amortized intangibles25.3 9.9 35.2 
Impact of exchange rate movements— (1.1)(1.1)
Balance as of September 30, 2024$(367.1)(293.9)$(661.0)
Net book value as of September 30, 2024$461.4 259.7 $721.1 
(1) Included in this amount for MSRs was $6.0 million relating to write-offs due to prepayments of sold warehouse receivables for which we retained the servicing rights. Amortization of MSRs is included in Revenue within the Consolidated Statements of Comprehensive Income.
(in millions)MSRsOther IntangiblesConsolidated
Gross Carrying Amount 
Balance as of December 31, 2022$747.3 557.0 $1,304.3 
Additions, net of adjustments72.5 5.8 78.3 
Adjustment for fully amortized intangibles(25.7)(20.3)(46.0)
Impact of exchange rate movements— (1.0)(1.0)
Balance as of September 30, 2023$794.1 541.5 $1,335.6 
Accumulated Amortization 
Balance as of December 31, 2022$(242.2)(203.6)$(445.8)
Amortization expense, net(1)
(80.1)(52.8)(132.9)
Adjustment for fully amortized intangibles25.7 20.3 46.0 
Impact of exchange rate movements— 0.3 0.3 
Balance as of September 30, 2023$(296.6)(235.8)$(532.4)
Net book value as of September 30, 2023$497.5 305.7 $803.2 
(1) Included in this amount for MSRs was $8.4 million relating to write-offs due to prepayments of sold warehouse receivables for which we retained the servicing rights. Amortization of MSRs is included in Revenue within the Consolidated Statements of Comprehensive Income.