Company: JLL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001037976-25-000071
Chunk: 105

Company: JONES LANG LASALLE INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 105
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BITDA growth primarily reflected higher incentive fees, net of related incentive compensation costs. In addition to the aforementioned third-quarter impact, the change in Adjusted EBITDA for the first nine months of 2025 compared to prior year was influenced by the absence of the $8.2 million gain recognized in Q2 2024 following the purchase of a controlling interest in a fund managed by the company, which outpaced the revenue growth (net of related incentive compensation expense) described above.

AUM increased 4% in USD (1% in local currency) during the quarter, and increased 5% in USD (1% in local currency) over the trailing twelve months. Changes in AUM are detailed in the tables below (in billions):

Quarter-to-dateBeginning balance (June 30, 2025)$84.9 Asset acquisitions/takeovers1.0 Asset dispositions/withdrawals(1.1)Valuation changes0.5 Foreign currency translation2.4 Change in uncalled committed capital and cash held0.8 Ending balance (September 30, 2025)$88.5    Trailing Twelve MonthsBeginning balance (September 30, 2024)$84.6 Asset acquisitions/takeovers6.1 Asset dispositions/withdrawals(7.2)Valuation changes2.6 Foreign currency translation3.2 Change in uncalled committed capital and cash held(0.8)Ending balance (September 30, 2025)$88.5 

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Software and Technology Solutions

% ChangeThree Months Ended September 30,Change inin Local($ in millions)20252024U.S. dollarsCurrencyRevenue$58.6 56.7 1.9 3 %3 %Platform compensation and benefits$46.4 48.1 (1.7)(4)%(4)%Platform operating, administrative and other13.0 12.8 0.2 2 2 Depreciation and amortization8.2 4.9 3.3 67 66 Segment platform operating expenses67.6 65.8 1.8 32Gross contract costs0.8 1.4 (0.6)(43)(45)Segment operating expenses$68.4 67.2 1.2 2 %1 %Adjusted EBITDA$(1.1)(5.6)4.5 80