Company: JLL
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001037976-25-000071
Chunk: 40

Company: JONES LANG LASALLE INC
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 1
Chunk 40
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 compensation and benefits is carried interest expense of $4.3 million and $2.2 million for the three months ended September 30, 2025 and 2024, respectively. Carried interest expense/benefit is associated with Equity earnings/losses on Proptech Investments.

29

 Consolidated Operating Results (continued)

Nine Months Ended September 30,Change in% Change in Local Currency($ in millions)20252024U.S. dollarsReal Estate Management Services$14,445.8 12,959.6 1,486.2 11%11%Leasing Advisory2,004.8 1,854.1 150.7 8 8 Capital Markets Services1,567.7 1,334.0 233.7 18 17 Investment Management317.0 307.3 9.7 3 2 Software and Technology Solutions171.6 167.0 4.6 3 3 Revenue$18,506.9 16,622.0 1,884.9 11 %11 %Platform compensation and benefits(1)$4,288.0 3,916.2 371.8 9 %9 %Platform operating, administrative and other expenses980.4 909.8 70.6 87Depreciation and amortization196.9 188.8 8.1 44Total platform operating expenses5,465.3 5,014.8 450.5 9 9 Gross contract costs12,397.8 11,107.9 1,289.9 1212Restructuring and acquisition charges52.7 4.4 48.3 n.m.n.m.Total operating expenses$17,915.8 16,127.1 1,788.7 11 %11 %Operating income$591.1 494.9 96.2 19 %19 %Equity losses$(25.6)(20.0)(5.6)(28)%(29)%Net non-cash MSR and mortgage banking derivative activity$(17.3)(25.9)8.6 33 %33 %Adjusted EBITDA$863.8 731.5 132.3 18 %18 %(1) Included in Platform compensation and benefits is a carried interest benefit of $0.6 million and