Company: JLL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001037976-25-000071
Chunk: 39

Company: JONES LANG LASALLE INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 39
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 Markets Services, and (iv) Incentive fees and Transaction fees and other, within Investment Management. 

•Gross contract costs represent certain costs associated with client-dedicated employees and third-party vendors and subcontractors and are directly or indirectly reimbursed through the fees we receive. These costs are presented on a gross basis in Operating expenses (with the corresponding fees in Revenue).

•We define "MENA" as Middle East and North Africa.

Consolidated Operating Results Three Months Ended September 30,Change in% Change in Local Currency($ in millions)20252024U.S. dollarsReal Estate Management Services$4,982.4 4,520.5 461.9 10 %10 %Leasing Advisory741.9 691.5 50.4 7 7 Capital Markets Services612.1 498.8 113.3 2322Investment Management115.4 101.3 14.1 14 12Software and Technology Solutions58.6 56.7 1.9 33Revenue$6,510.4 5,868.8 641.6 11 %10 %Platform compensation and benefits(1)$1,569.1 1,406.9 162.2 12 %11 %Platform operating, administrative and other expenses329.6 315.1 14.5 53Depreciation and amortization57.6 65.5 (7.9)(12)(13)Total platform operating expenses1,956.3 1,787.5 168.8 9 9 Gross contract costs4,268.7 3,861.8 406.9 1110Restructuring and acquisition charges11.7 (8.8)20.5 n.m.n.m.Total operating expenses$6,236.7 5,640.5 596.2 11 %10 %Operating income$273.7 228.3 45.4 20 %20 %Equity earnings (losses)$27.4 (0.9)28.3 n.m.n.m.Net non-cash MSR and mortgage banking derivative activity$(0.2)(5.1)4.9 96 %97 %Adjusted EBITDA$347.3 298.1 49.2 17 %16 %(1) Included in Platform