Company: JLL
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001037976-25-000045
Chunk: 65

Company: JONES LANG LASALLE INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 65
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 88.6 $172.9 160.0 Adjusted EBITDA - Leasing Advisory120.4 112.1 217.4 186.9 Adjusted EBITDA - Capital Markets Services54.7 33.8 103.3 58.8 Adjusted EBITDA - Investment Management16.3 22.7 32.1 43.7 Adjusted EBITDA - Software and Technology Solutions(6.3)(10.9)(9.2)(16.0)Adjusted EBITDA - Consolidated$291.7 246.3 $516.5 433.4 Adjustments:Restructuring and acquisition charges$(21.3)(11.5)$(41.0)(13.2)Interest on employee loans, net of forgiveness2.0 1.3 3.6 2.3 Equity losses - Investment Management and Software and Technology Solutions(1)(27.0)(16.3)(55.7)(21.2)Credit losses on convertible note investments(0.2)— (0.7)— Net non-cash MSR and mortgage banking derivative activity(4.2)(11.8)(17.1)(20.8)Interest expense, net of interest income(35.3)(41.7)(59.9)(72.2)Income tax provision(26.7)(20.5)(40.7)(36.4)Depreciation and amortization(1)(66.7)(61.4)(137.4)(121.4)Net income attributable to common shareholders$112.3 84.4 $167.6 150.5 (1) This adjustment excludes the noncontrolling interest portion which is not attributable to common shareholders.

5.BUSINESS COMBINATIONS, GOODWILL AND OTHER INTANGIBLE ASSETS

Business Combinations ActivityDuring the six months ended June 30, 2025, we paid $18.7 million for business acquisitions, which included $12.6 million for deferred business acquisition and earn-out obligations for acquisitions completed in prior years. During the six months ended June 30, 2024, we paid $44.2 million for business acquisitions, which included $39.3 million of payments relating to acquisitions in 2024 and $4.9 million for deferred business acquisition and earn-out obligations related to acquisitions completed in prior years.

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Earn-Out Payments($