Company: JLL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001037976-25-000071
Chunk: 19

Company: JONES LANG LASALLE INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 19
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 Management and Proptech Investments(1)26.6 (2.2)(29.1)(23.4)Credit losses on convertible note investments(2.2)(6.3)(2.9)(6.3)Net non-cash MSR and mortgage banking derivative activity(0.2)(5.1)(17.3)(25.9)Interest expense, net of interest income(29.2)(38.1)(89.1)(110.3)Income tax provision(52.6)(37.4)(93.3)(73.8)Depreciation and amortization(1)(56.7)(64.5)(194.1)(185.9)Net income attributable to common shareholders$222.8 155.1 $390.4 305.6 (1) This adjustment excludes the noncontrolling interest portion which is not attributable to common shareholders.

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5.BUSINESS COMBINATIONS, GOODWILL AND OTHER INTANGIBLE ASSETS

Business Combinations Activity

The following table details cash payments relating to acquisitions. Payments for current-year acquisitions are included in cash used in investing activities, while payments for prior-year acquisitions are primarily reflected in cash used in financing activities.Nine Months Ended September 30,(in millions)20252024Payments relating to current-year acquisitions$6.1 40.8 Payments for deferred business acquisition and earn-out obligations16.3 5.1 Total paid for business acquisitions22.4 45.9 

Earn-Out Payments($ in millions)September 30, 2025December 31, 2024Number of acquisitions with earn-out payments subject to the achievement of certain performance criteria12 13 Maximum earn-out payments (undiscounted)$75.2 108.0 Short-term earn-out liabilities (fair value)(1)6.0 12.0 Long-term earn-out liabilities (fair value)(1)10.1 23.8 (1) Included in Other current and Other long-term liabilities on the Consolidated Balance Sheets.

Assuming the achievement of the applicable performance criteria, we anticipate making these earn-out payments over the next five years. Refer to Note 7, Fair Value Measurements, and Note 10, Restructuring and Acquisition Charges, for additional discussion of our earn-out liabilities.

Goodwill and Other Intangible Assets

Goodwill and unamortized intangibles as of September 30, 2025 consisted of