Company: JLL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001037976-25-000071
Chunk: 20

Company: JONES LANG LASALLE INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 20
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: (i) goodwill of $4,705.5 million, (ii) identifiable intangibles of $619.3 million amortized over their remaining finite useful lives and (iii) $52.1 million of identifiable intangibles with indefinite useful lives that are not amortized. Notable portions of our goodwill and unamortized intangibles are denominated in currencies other than the U.S. dollar, which means a portion of the movements in the reported book value of these balances is attributable to movements in foreign currency exchange rates.

In conjunction with our new organizational structure described more fully in Note 4, Business Segments, we reassessed our reporting units as of January 1, 2025. As a result of the changes in Real Estate Management Services and Leasing Advisory, we reassigned goodwill to these reporting units using a relative fair value approach. Under this methodology, the fair value of each 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.

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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 Additions, net of adjustments— — 6.6 — — 6.6 Impact of exchange rate movements13.9 32.6 39.9 1.3 (0.1)87.6 Balance as of September 30, 2025$975.1 1,405.2 2