Company: JLL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001037976-25-000045
Chunk: 72

Company: JONES LANG LASALLE INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 72
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 the fair value adjustments in our Consolidated Statements of Comprehensive Income within Equity earnings/losses.Investments classified as Level 3 in the fair value hierarchy represent investments in early-stage non-public entities where we elected the fair value option. For most of our investments, the carrying value was deemed to approximate fair value due to the proximity of the investment date, or date of most recent financing raise, to the balance sheet date, as well as consideration of investee-level performance updates. The fair value of certain investments is estimated using significant unobservable inputs which requires judgment due to the absence of market data. In determining the estimated fair value of these investments, we utilize appropriate valuation techniques including discounted cash flow analyses, scorecard 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.(in billions)June 30, 2025December 31, 2024Foreign currency forward contracts, gross notional value$2.20 2.21 Foreign currency forward contracts, net basis1.17 1.08 

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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)June 30, 2025December 31, 2024Net asset, receivable positions$7.5 5.4 Net asset, payable positions(1.2)(0.5)Foreign currency forward contracts receivable$6.3 4.9 Net liability, receivable positions$(0.1)(1.9)Net liability, payable positions8.6 15.8 Foreign currency forward contracts payable$8.5 13.9 Warehouse ReceivablesThe fair value of the Warehouse receivables is based on already locked-in security-buy prices. As of June