Company: JLL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001037976-25-000025
Chunk: 74

Company: JONES LANG LASALLE INC
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 8
Chunk 74
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with the corresponding fees in Revenue).

•We define "Greater China" as China, Hong Kong, Macau and Taiwan.

Consolidated Operating Results Three Months Ended March 31,Change in% Change in Local Currency($ in millions)20252024U.S. dollarsReal Estate Management Services$4,569.4 4,069.2 500.2 12 %14 %Leasing Advisory586.1 520.4 65.7 13 13 Capital Markets Services435.3 377.6 57.7 15 16 Investment Management98.5 103.4 (4.9)(5)(4)Software and Technology Solutions57.1 53.9 3.2 6 6 Revenue$5,746.4 5,124.5 621.9 12 %13 %Platform compensation and benefits$1,291.7 1,178.5 113.2 10 %11 %Platform operating, administrative and other expenses301.1 270.4 30.7 11 12 Depreciation and amortization71.6 61.0 10.6 17 19 Total platform operating expenses1,664.4 1,509.9 154.5 10 11 Gross contract costs3,942.3 3,498.7 443.6 13 14 Restructuring and acquisition charges19.7 1.7 18.0 n.m.n.m.Total operating expenses$5,626.4 5,010.3 616.1 12 %14 %Operating income$120.0 114.2 5.8 5 %4 %Equity losses$(25.6)(3.7)(21.9)(592)%(593)%Net non-cash MSR and mortgage banking derivative activity$(12.9)(9.0)(3.9)(43)%(43)%Adjusted EBITDA$224.8 187.1 37.7 20 %20 %

25

Non-GAAP Financial Measures

Management uses certain non-GAAP financial measures to develop budgets and forecasts, measure and reward performance against those budgets and forecasts, and enhance comparability to prior periods. These measures are believed to be useful to investors and other external stakeholders as supplemental measures of core operating performance and include the following:

•