Company: JLL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001037976-25-000045
Chunk: 78

Company: JONES LANG LASALLE INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 78
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 3,200.0 Debt issuance costs(0.2)n/a(0.9)n/aTotal warehouse facilities$1,223.5 3,800.0 841.0 3,200.0 (1) In the second quarter of 2025, JLL temporarily increased the maximum borrowing capacity of the facility from $400.0 million to $1,900.0 million, with an expiration date of August 29, 2025. After August 29, 2025 the maximum capacity will revert to the original amount.(2) As Soon As Pooled ("ASAP") funding programWe have lines of credit established for the sole purpose of funding our Warehouse receivables. These lines of credit exist with financial institutions and are secured by the related Warehouse receivables. Pursuant to these facilities, we are required to comply with certain financial covenants regarding (i) minimum net worth, (ii) minimum servicing-related loans and (iii) minimum adjusted leverage ratios. We remained in compliance with all covenants under our facilities as of June 30, 2025.

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9.COMMITMENTS AND CONTINGENCIES

We are a defendant in various litigation matters arising in the ordinary course of business, some of which involve claims for damages that are substantial in amount. Professional Indemnity InsuranceIn order to better manage our global insurance program and support our risk management efforts, we supplement our traditional insurance coverage for certain types of claims by using a wholly-owned captive insurance company. The level of risk retained by our captive insurance company, with respect to professional indemnity claims, is up to $10.0 million per claim. We contract third-party insurance companies to provide coverage of risk in excess of this amount. When a potential loss event occurs, we estimate the ultimate cost of the claim and accrue the amount in Other current and long-term liabilities on our Consolidated Balance Sheets when probable and estimable. In addition, we have established receivables from third-party insurance providers for claim amounts in excess of the risk retained by our captive insurance company. In total, these receivables were $0.5 million as of both June 30, 2025, and December 31, 2024, and are included in Notes and other receivables on our Consolidated Balance Sheet.The following table shows the professional indemnity accrual activity and related payments.(in millions)December 31, 20244.2 New claims3.0