Company: JLL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001037976-25-000045
Chunk: 119

Company: JONES LANG LASALLE INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 2
Chunk 119
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Effective January 1, 2025, we report Property Management (historically included in Markets Advisory, which was renamed Leasing Advisory) within Real Estate Management Services (formerly referred to as Work Dynamics). Additionally, Capital Markets, LaSalle and JLL Technologies were renamed to Capital Markets Services, Investment Management and Software and Technology Solutions, respectively.

We manage and report our operations as five business segments: Real Estate Management Services, Leasing Advisory, Capital Markets Services, Investment Management and Software and Technology Solutions. Our Real Estate Management Services business provides a broad suite of integrated services to occupiers of real estate, including facility and property management, project management, and portfolio and other services. We consider "Property Management" to be services provided to non-occupying property investors and "Workplace Management" to be services provided to facility occupiers. Leasing Advisory offers agency leasing and tenant representation, as well as advisory and consulting services. Our Capital Markets Services offerings include investment sales, debt and equity advisory, value and risk advisory, and loan servicing. Investment Management provides services on a global basis to institutional investors and high-net-worth individuals, while our Software and Technology Solutions segment offers various software products and services to our clients.

Segment operating expenses comprise Gross contract costs and Segment platform operating expenses, which includes Platform compensation and benefits; Platform operating, administrative and other expenses; and Depreciation and amortization. Our measure of segment results excludes Restructuring and acquisition charges.

Real Estate Management Services

% ChangeThree Months Ended June 30,Change inin Local($ in millions)20252024U.S. dollarsCurrencyWorkplace Management$3,349.1 3,021.1 328.0 11 %10 %Project Management971.6 788.1 183.5 2322Property Management454.4 436.6 17.8 44Portfolio Services and Other118.9 124.1 (5.2)(4)(5)Revenue$4,894.0 4,369.9 524.1 12 %11 %Platform compensation and benefits$465.8 416.5 49.3 12 %11 %Platform operating, administrative and other147.5 146.8 0.7 ——Depreciation and amortization30.2 29.2 1.0 32Segment platform operating expenses643.5 592.5 51.0 97Gross contract costs4,173