Company: JLL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001037976-25-000025
Chunk: 22

Company: JONES LANG LASALLE INC
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 22
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card method, Black-Scholes models and other methods as appropriate. Key inputs include projected cash flows, discount rates, peer group multiples and volatility. To the extent there are changes in fair value, we recognize such changes through Equity earnings/losses.Foreign Currency Forward ContractsWe regularly use foreign currency forward contracts to manage our currency exchange rate risk related to intercompany lending and cash management practices. These contracts are on the Consolidated Balance Sheets as current assets and current liabilities. We determine the fair values of these contracts based on current market rates. The inputs for these valuations are Level 2 in the fair value hierarchy. The following table details the gross notional value and net basis of these contracts.

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(in billions)March 31, 2025December 31, 2024Foreign currency forward contracts, gross notional value$2.16 2.21 Foreign currency forward contracts, net basis0.96 1.08 We record the asset and liability positions for our foreign currency forward contracts based on the net payable or net receivable position with the financial institutions from which we purchase these contracts. The outstanding balances of these contracts are presented in the following table.(in millions)March 31, 2025December 31, 2024Net asset, receivable positions$4.0 5.4 Net asset, payable positions(1.5)(0.5)Foreign currency forward contracts receivable$2.5 4.9 Net liability, receivable positions$(0.3)(1.9)Net liability, payable positions4.4 15.8 Foreign currency forward contracts payable$4.1 13.9 Warehouse ReceivablesThe fair value of the Warehouse receivables is based on already locked-in security-buy prices. As of March 31, 2025 and December 31, 2024, all of our Warehouse receivables included in the Consolidated Balance Sheets were under commitment to be purchased by government-sponsored enterprises ("GSEs") or by a qualifying investor as part of a U.S. government or GSE mortgage-backed security program. The Warehouse receivables are classified as Level 2 in the fair value hierarchy as all significant inputs are readily observable.Deferred Compensation We maintain a deferred compensation plan for certain of our U.S. employees that allows them to defer portions of their compensation. We recorded this plan on our Consolidated Balance Sheet as Deferred compensation plan assets, long-term deferred compensation plan liabilities, included in Deferred compensation,