Company: JLL
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001037976-25-000025
Chunk: 13

Company: JONES LANG LASALLE INC
Filing Date: 2025-05-07
Form: 10-Q
Item: Item 1
Chunk 13
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ii) gain/loss on disposal, (iii) interest on employee loans, net of forgiveness, (iv) Equity earnings/losses for Investment Management and Software and Technology Solutions, (v) credit losses on convertible note investments, (vi) net non-cash MSR and mortgage banking derivative activity, (vii) Interest expense, net of interest income, (viii) Income tax provision and (ix) Depreciation and amortization, which are otherwise included in Net income on the Consolidated Statements of Comprehensive Income.The Other segment items caption includes (i) other income/loss, (ii) gain/loss on disposal, (iii) interest on employee loans, net of forgiveness, (iv) credit losses on convertible note investments, (v) net non-cash MSR and mortgage banking derivative activity, (vi) net income/loss attributable to noncontrolling interest, (vii) the noncontrolling interest portion of amortization of acquisition-related intangibles which is not attributable to common shareholders and (viii) the noncontrolling interest portion of Equity earnings/losses which are not attributable to common shareholders.The Chief Operating Decision Maker ("CODM") of JLL measures and evaluates the segment results based on Adjusted EBITDA for purposes of making decisions about allocating resources and assessing performance. Our CODM is not provided with total asset information by segment and accordingly does not measure or allocate resources based on total assets information. Therefore, we have not disclosed asset information by segment. As of March 31, 2025, we define our Global Executive Board, collectively, as our CODM.

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Summarized financial information by business segment is as follows.Real Estate Management ServicesThree Months Ended March 31,(in millions)20252024Workplace Management$3,263.6 2,871.7 Project Management747.5 656.4 Property Management445.6 429.7 Portfolio Services and Other112.7 111.4 Revenue$4,569.4 4,069.2 Less:Platform compensation and benefits$431.6 400.5 Platform operating, administrative and other139.2 128.6 Gross contract costs3,930.3 3,469.1 Add:Equity earnings0.4 1.1 Other segment items(2.4)(0.7)Adjusted EBITDA$66.3 71.4 Depreciation and amortization(1)$30