Company: JLL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001037976-25-000071
Chunk: 51

Company: JONES LANG LASALLE INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 51
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 compensation accruals.

The increases in Adjusted EBITDA for the third quarter and first nine months were driven by the revenue growth described above, net of associated commissions. For the quarter, this growth was meaningfully offset by the aforementioned impact from the timing of incentive compensation accruals.

39

Capital Markets Services

% ChangeThree Months Ended September 30,Change inin Local($ in millions)20252024U.S. dollarsCurrencyInvestment Sales, Debt/Equity Advisory and Other$479.5 371.8 107.7 29 %28 %Value and Risk Advisory89.9 86.0 3.9 5 3 Loan Servicing42.7 41.0 1.7 4 4 Revenue$612.1 498.8 113.3 23 %22 %Platform compensation and benefits$436.8 365.5 71.3 20 %19 %Platform operating, administrative and other85.8 62.3 23.5 3836Depreciation and amortization9.8 16.6 (6.8)(41)(42)Segment platform operating expenses532.4 444.4 88.0 2019Gross contract costs1.5 11.5 (10.0)(87)(87)Segment operating expenses533.9 455.9 78.0 17 %16 %Equity earnings$0.8 0.2 0.6 300 %195 %Net non-cash MSR and mortgage banking derivative activity$(0.2)(5.1)4.9 96 %97 %Adjusted EBITDA$89.9 65.7 24.2 37 %36 %

40

Capital Markets Services (continued)

% ChangeNine Months Ended September 30,Change inin Local($ in millions)20252024U.S. dollarsCurrencyInvestment Sales, Debt/Equity Advisory and Other$1,172.7 950.8 221.9 23 %23 %Value and Risk Advisory269.2 262.0 7.2 3 2 Loan Servicing125.8 121.2 4.6 4 4 Revenue$1,567.7 1,334.0 233.7 18 %17 %Platform compensation and benefits$