Company: JLL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001037976-25-000025
Chunk: 57

Company: JONES LANG LASALLE INC
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 57
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 impacted reporting unit was determined using a combination of the income approach and the market approach, and this resulting relative fair value was used to reassign the balance of goodwill.We considered the change to Real Estate Management Services and Leasing Advisory reporting units a triggering event requiring the testing of our goodwill for impairment as of January 1, 2025. We performed a quantitative test relying on the discounted cash flow ("DCF") method, an income approach, and a market approach in determining the estimated fair value of these reporting units. Our analysis relied on significant judgments and assumptions in determining the inputs, specifically, forecasted revenue growth, forecasted profitability margin and the discount rate used to present value the estimated future cash flows. Our analysis indicated that no impairment existed as the estimated fair value of both Real Estate Management Services and Leasing Advisory reporting units exceeded their respective carrying value.The following table details, by reporting segment, movements in goodwill.(in millions)Real Estate Management ServicesLeasing AdvisoryCapital Markets ServicesInvestment ManagementSoftware and Technology SolutionsConsolidatedBalance as of January 1, 2025$961.2 1,372.6 1,971.5 55.9 250.1 $4,611.3 Impact of exchange rate movements4.0 12.8 14.2 0.5 (0.3)31.2 Balance as of March 31, 2025$965.2 1,385.4 1,985.7 56.4 249.8 $4,642.5 The following tables detail, by intangible type, movements in the gross carrying amount and accumulated amortization of our identifiable intangibles.(in millions)MSRsOther IntangiblesConsolidatedGross Carrying Amount Balance as of December 31, 2024$851.1 543.8 $1,394.9 Additions, net of adjustments20.2 — 20.2 Adjustment for fully amortized intangibles(11.7)— (11.7)Impact of exchange rate movements— 2.7 2.7 Balance as of March 31, 2025$859.6 546.5 $1,406.1 Accumulated Amortization Balance as of December 31, 2024$(380.0)(290.8)$(670.8)Amortization expense, net(1)(27.2)(