Company: JLL
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001037976-25-000006
Chunk: 153

Company: JONES LANG LASALLE INC
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 153
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 of real estate assets held by each venture and (iii) contemplation of real estate and capital markets conditions in the localities in which these ventures operate. As of December 31, 2024 and 2023, investments at fair value using NAV were $367.9 million and $321.8 million, respectively. As these investments are not required to be classified in the fair value hierarchy, they have been excluded from the following table.

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Recurring Fair Value MeasurementsThe following table categorizes by level in the fair value hierarchy the estimated fair value of our assets and liabilities measured at fair value on a recurring basis.December 31,20242023(in millions)Level 1Level 2Level 3Level 1Level 2Level 3AssetsInvestments - fair value$43.8 — 330.3 51.7 — 367.3 Foreign currency forward contracts receivable— 4.9 — — 12.5 — Warehouse receivables— 770.7 — — 677.4 — Deferred compensation plan assets— 664.0 — — 604.3 — Mortgage banking derivative assets— — 161.1 — — 128.0 Total assets at fair value$43.8 1,439.6 491.4 51.7 1,294.2 495.3 LiabilitiesForeign currency forward contracts payable$— 13.9 — — 8.8 — Deferred compensation plan liabilities— 658.4 — — 576.1 — Earn-out liabilities— — 35.8 — — 57.5 Mortgage banking derivative liabilities— — 67.3 — — 117.7 Total liabilities at fair value$— 672.3 103.1 — 584.9 175.2 InvestmentsWe classify one investment as Level 1 in the fair value hierarchy as a quoted price is readily available. We increase or decrease our investment each reporting period by the change in the fair value of the investment. We report the fair value adjustments in the Consolidated Statements of Comprehensive Income within Equity (losses) earnings.Investments classified as Level 3 in the fair value hierarchy represent investments in early-stage non-public entities where we elected the fair value option. For most of our investments, the carrying