Company: JLL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001037976-25-000045
Chunk: 38

Company: JONES LANG LASALLE INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 38
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5 10,753.2 1,243.3 12 %12 %Platform compensation and benefits$2,718.9 2,509.3 209.6 8 %8 %Platform operating, administrative and other expenses650.8 594.7 56.1 99Depreciation and amortization139.3 123.3 16.0 1313Total platform operating expenses$3,509.0 3,227.3 281.7 9 %9 %Gross contract costs8,129.1 7,246.1 883.0 1213Restructuring and acquisition charges41.0 13.2 27.8 211213Total operating expenses$11,679.1 10,486.6 1,192.5 11 %12 %Operating income$317.4 266.6 50.8 19 %18 %Equity losses$(53.0)(19.1)(33.9)(177)%(179)%Net non-cash MSR and mortgage banking derivative activity$(17.1)(20.8)3.7 18 %18 %Adjusted EBITDA$516.5 433.4 83.1 19 %19 %

29

Non-GAAP Financial Measures

Management uses certain non-GAAP financial measures to develop budgets and forecasts, measure and reward performance against those budgets and forecasts, and enhance comparability to prior periods. These measures are believed to be useful to investors and other external stakeholders as supplemental measures of core operating performance and include the following:

•Adjusted EBITDA attributable to common shareholders ("Adjusted EBITDA") and

•Percentage changes against prior periods, presented on a local currency basis.

However, non-GAAP financial measures should not be considered alternatives to measures determined in accordance with U.S. GAAP. Any measure that eliminates components of a company’s capital structure, cost of operations or investments, or other results has limitations as a performance measure. In light of these limitations, management also considers U.S. GAAP financial measures and does not rely solely on non-GAAP financial measures. Because our non-GAAP financial measures are not calculated in accordance with U.S. GAAP, they may not be comparable to similarly titled measures used by other companies.

Adjustments to U.S. GAAP Financial Measures Used to Calculate non-GAAP Financial Measures

Net non-cash MSR and