Company: JLL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001037976-25-000045
Chunk: 17

Company: JONES LANG LASALLE INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 17
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 interest portion which is not attributable to common shareholders.

5.BUSINESS COMBINATIONS, GOODWILL AND OTHER INTANGIBLE ASSETS

Business Combinations ActivityDuring the six months ended June 30, 2025, we paid $18.7 million for business acquisitions, which included $12.6 million for deferred business acquisition and earn-out obligations for acquisitions completed in prior years. During the six months ended June 30, 2024, we paid $44.2 million for business acquisitions, which included $39.3 million of payments relating to acquisitions in 2024 and $4.9 million for deferred business acquisition and earn-out obligations related to acquisitions completed in prior years.

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Earn-Out Payments($ in millions)June 30, 2025December 31, 2024Number of acquisitions with earn-out payments subject to the achievement of certain performance criteria12 13 Maximum earn-out payments (undiscounted)$78.2 108.0 Short-term earn-out liabilities (fair value)(1)5.2 12.0 Long-term earn-out liabilities (fair value)(1)13.9 23.8 (1) Included in Other current and Other long-term liabilities on the Consolidated Balance Sheets.Assuming the achievement of the applicable performance criteria, we anticipate making these earn-out payments over the next five years. Refer to Note 7, Fair Value Measurements, and Note 10, Restructuring and Acquisition Charges, for additional discussion of our earn-out liabilities.Goodwill and Other Intangible AssetsGoodwill and unamortized intangibles as of June 30, 2025 consisted of: (i) goodwill of $4,715.8 million, (ii) identifiable intangibles of $630.0 million amortized over their remaining finite useful lives and (iii) $52.0 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