Company: JLL
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001037976-25-000006
Chunk: 139

Company: JONES LANG LASALLE INC
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 139
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2 million and (iii) other net liabilities (assumed liabilities less acquired assets) of $3.7 million. As of December 31, 2024, we have not completed our analysis to assign fair values to all of the identifiable intangible and tangible assets acquired and, therefore, we may further refine the purchase price allocations for this acquisition during the open measurement period.Of the $64.0 million of total additions to goodwill in 2024, we expected to amortize and deduct $41.2 million for tax purposes as of December 31, 2024, subject to statutory amortization periods.During the twelve months ended December 31, 2024, we paid $7.4 million for deferred business acquisition and earn-out obligations for acquisitions completed in prior years.2023 Business Combinations ActivityDuring the year ended December 31, 2023, we completed one strategic acquisition in Capital Markets.Aggregate terms of our acquisition included: (1) cash paid at closing of $13.6 million and (2) prior 50.0% ownership previously accounted for as an equity method investment which had a fair value of $10.0 million. The allocation of purchase consideration resulted in goodwill of $18.7 million, identifiable intangibles of $2.1 million and other net assets (acquired assets less assumed liabilities) of $2.8 million. During the year ended December 31, 2023 we paid $26.8 million for deferred business acquisition and earn-out obligations for acquisitions completed in prior years.Earn-Out Payments($ in millions)December 31, 2024December 31, 2023Number of acquisitions with earn-out payments subject to the achievement of certain performance criteria13 14 Maximum earn-out payments (undiscounted)$108.0 100.0 Short-term earn-out liabilities (fair value)(1)12.0 12.0 Long-term earn-out liabilities (fair value)(1)23.8 45.5 (1) Included in Other current and Other long-term liabilities on the Consolidated Balance Sheets.Assuming the achievement of the applicable performance criteria, we anticipate making these earn-out payments over the next five years. Refer to Note 9, Fair Value Measurements, and Note 14, Restructuring and Acquisition Charges, for additional discussion of our earn-out liabilities.

90

Goodwill and Other Intangible AssetsGoodwill and unamortized intangibles as of December 31