XML 101 R2.htm IDEA: XBRL DOCUMENT v3.25.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
As required by Item 402(v) of Regulation S-K, we are providing the following information about the relationship between compensation actually paid (as defined in Item 402(v)) and performance.
 
Summary
Compensation
Table (SCT)
Total
for CEO(2)
(b)
Compensation
Actually Paid
(CAP)
for CEO(2)
(c)
Avg. SCT Total
for Other
NEOs(3)
(d)
Avg. CAP to
Other NEOs(3)
(e)
Value of Initial Fixed $100
Investment Based on(1)
  
Year
(a)		TSR (f) 
Peer Group
TSR(4)
(g)
Net
Income(5)
(h)
AIP Adjusted
EBITDA(6)
(i)
2024
$16,993,053 $32,379,792 $8,079,042 $9,772,662 $145.41 $194.42 $547 $1,186 
2023$12,041,383 $10,615,571 $4,498,085 $3,656,659 $108.45  $141.85 $225 $913 
2022$12,055,766 ($7,762,831)$4,314,685 ($4,756,923)$91.54  $116.41 $655 $1,175 
2021$12,856,819 $33,148,609 $8,187,795 $16,619,834 $154.71  $168.68 $962 $1,228 
2020$8,282,033 $6,272,873 $4,981,037 $3,770,266 $85.23  $98.15 $403 $714 
        
Company Selected Measure Name Adjusted EBITDA        
Named Executive Officers, Footnote The CEO for each of the fiscal years is Mr. Ulbrich. For 2024, our other NEOs include Ms. Brennan and Messrs. Bloxam, Lerner, Murray and Shah. For 2023, our other NEOs include Ms. Brennan and Messrs. Lerner, Murray and Shah. For 2022 and 2021, our other NEOs include Ms. Brennan and Messrs. O’Brien, Lerner and Shah. For 2020, our other NEOs include Mses. Stephanie Plaines and Patricia Maxson and Messrs. O’Brien, Lerner, Shah, and Jeff Jacobson.        
Peer Group Issuers, Footnote Peer Group TSR represents the cumulative TSR of a customized group comprised of (1) CBRE Group Inc. (CBRE), a global commercial real estate services company publicly traded in the U.S., (2) Cushman & Wakefield plc (CWK), a global commercial real estate services company publicly traded in the U.S., (3) Colliers International Group Inc. (CIGI), a global commercial real estate services company, publicly traded in the U.S., and (4) Savills plc (SVS.L), a real estate services company publicly traded on the London Stock Exchange. The Peer Group TSR assumes the value of a $100 investment on December 31, 2019.        
PEO Total Compensation Amount $ 16,993,053 $ 12,041,383 $ 12,055,766 $ 12,856,819 $ 8,282,033
PEO Actually Paid Compensation Amount $ 32,379,792 10,615,571 (7,762,831) 33,148,609 6,272,873
Adjustment To PEO Compensation, Footnote The following adjustments relating to equity awards were made to total compensation for each year to determine compensation actually paid:
Chief Executive Officer
YearSCT Total for CEOMinus: Grant Date
Fair Value of Equity
Awards Granted
During Applicable
Year		Plus: Year-End Fair
Value of Equity
Awards Granted
During Applicable
Year		Plus: Change in Fair
Value as of Year-End
of Any Prior-Year
Awards that Remain
Unvested as of
Year-End		Plus: Change in Fair
Value as of Vesting
Date of Any Prior-Year
Awards that Vested
During Applicable
Year		Compensation
Actually Paid
2024
$16,993,053 $11,318,753 $18,424,886 $8,075,381 $205,226 $32,379,792 
2023$12,041,383 $8,688,178 $10,214,256 ($2,100,454)($851,435)$10,615,571 
2022$12,055,766 $9,741,059 $4,725,115 ($13,364,160)($1,438,493)($7,762,831)
2021$12,856,819 $7,306,412 $13,489,870 $13,374,183 $734,149 $33,148,609 
2020$8,282,033 $4,906,575 $7,076,122 ($3,958,415)($220,293)$6,272,873 

(1)Amounts set forth in this table were computed in accordance with the methodology used for financial reporting purposes and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year.
        
Non-PEO NEO Average Total Compensation Amount $ 8,079,042 4,498,085 4,314,685 8,187,795 4,981,037
Non-PEO NEO Average Compensation Actually Paid Amount $ 9,772,662 3,656,659 (4,756,923) 16,619,834 3,770,266
Adjustment to Non-PEO NEO Compensation Footnote
Other Named Executive Officers
YearSCT TotalMinus: Grant Date
Fair Value of Equity
Awards Granted
During Applicable
Year		Plus: Year-End Fair
Value of Equity
Awards Granted
During Applicable
Year		Plus: Change in Fair
Value as of Year-End
of Any Prior-Year
Awards that Remain
Unvested as of
Year-End		Plus: Change in Fair
Value as of Vesting
Date of Any
Prior-Year Awards
that Vested During
Applicable Year		Compensation
Actually Paid
2024$8,079,042 $4,605,016 $4,805,890 $1,428,852 $63,894 $9,772,662 
2023$4,498,085 $2,385,961 $2,805,032 ($1,009,410)($251,087)$3,656,659 
2022$4,314,685 $2,771,149 $1,344,130 ($6,730,314)($914,275)($4,756,923)
2021$8,187,795 $4,616,761 $7,008,143 $5,637,019 $403,637 $16,619,834 
2020$4,981,037 $1,800,436 $1,794,360 ($970,025)($234,670)$3,770,266 
(1)Amounts set forth in this table were computed in accordance with the methodology used for financial reporting purposes and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year.
        
Compensation Actually Paid vs. Net Income
4947802409562
02 PRO013720_legend_pay versus performance_CEO CAP.jpg 
CEO CAP
02 PRO013720_legend_pay versus performance_NEO CAP.jpg 
NEO CAP
02 PRO013720_legend_pay versus performance_Net Income-JLL TSR.jpg 
Net Income
02 PRO013720_legend_pay versus performance_EBITDA-TSR.jpg 
AIP Adjusted EBITDA
        
Compensation Actually Paid vs. Company Selected Measure
4947802409562
02 PRO013720_legend_pay versus performance_CEO CAP.jpg 
CEO CAP
02 PRO013720_legend_pay versus performance_NEO CAP.jpg 
NEO CAP
02 PRO013720_legend_pay versus performance_Net Income-JLL TSR.jpg 
Net Income
02 PRO013720_legend_pay versus performance_EBITDA-TSR.jpg 
AIP Adjusted EBITDA
        
Total Shareholder Return Vs Peer Group
4947802409603
02 PRO013720_legend_pay versus performance_CEO CAP.jpg 
CEO CAP
02 PRO013720_legend_pay versus performance_NEO CAP.jpg 
NEO CAP
02 PRO013720_legend_pay versus performance_Net Income-JLL TSR.jpg 
JLL TSR
02 PRO013720_legend_pay versus performance_EBITDA-TSR.jpg 
Peer Group TSR
        
Tabular List, Table
•AIP Adjusted EBITDA
•AIP Adjusted EBITDA Margin
•Free Cash Flow Conversion Ratio
•Adjusted EPS
•Relative TSR
        
Total Shareholder Return Amount $ 145.41 108.45 91.54 154.71 85.23
Peer Group Total Shareholder Return Amount 194.42 141.85 116.41 168.68 98.15
Net Income (Loss) $ 547,000,000 $ 225,000,000 $ 655,000,000 $ 962,000,000 $ 403,000,000
Company Selected Measure Amount 1,186,000,000 913,000,000 1,175,000,000 1,228,000,000 714,000,000
PEO Name Mr. Ulbrich        
Additional 402(v) Disclosure Pursuant to the rules of the SEC, the comparison assumes $100 was invested on December 31, 2019 in our common stock. Historic stock price performance is not necessarily indicative of future stock price performance.The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year.
(6)The Company believes Adjusted EBITDA is the financial performance measure most closely linked to the calculation of compensation actually paid. AIP Adjusted EBITDA is defined on page 50.
The tables above demonstrate that over the measurement period, CAP for the CEO and NEOs trended directionally with the Company’s cumulative TSR, net income, and the Company Selected Measure (AIP Adjusted EBITDA). These changes are largely attributable to the
fluctuation in value of outstanding equity awards, which correlate with increases and decreases in stock price and cumulative TSR. Over the measurement period, our cumulative TSR has slightly underperformed against the peer group.
The most important financial performance measures used by the Company to link executive compensation actually paid to the Company’s CEO and NEOs, for the most recently completed fiscal year, to the Company’s performance are as follows:
        
Measure:: 1          
Pay vs Performance Disclosure          
Name AIP Adjusted EBITDA        
Measure:: 2          
Pay vs Performance Disclosure          
Name AIP Adjusted EBITDA Margin        
Measure:: 3          
Pay vs Performance Disclosure          
Name Free Cash Flow Conversion Ratio        
Measure:: 4          
Pay vs Performance Disclosure          
Name Adjusted EPS        
Measure:: 5          
Pay vs Performance Disclosure          
Name Relative TSR        
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 8,075,381 $ (2,100,454) $ (13,364,160) $ 13,374,183 $ (3,958,415)
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (11,318,753) (8,688,178) (9,741,059) (7,306,412) (4,906,575)
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 205,226 (851,435) (1,438,493) 734,149 (220,293)
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 18,424,886 10,214,256 4,725,115 13,489,870 7,076,122
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,428,852 (1,009,410) (6,730,314) 5,637,019 (970,025)
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (4,605,016) (2,385,961) (2,771,149) (4,616,761) (1,800,436)
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 63,894 (251,087) (914,275) 403,637 (234,670)
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 4,805,890 $ 2,805,032 $ 1,344,130 $ 7,008,143 $ 1,794,360