$JLL

JONES LANG LASALLE INC

CIK:0001037976|SEC Filings

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 6,927.9	$ 6,250.1	$ 13,314.4	$ 11,996.5
Operating expenses:
Compensation and benefits	3,134.2	2,835.1	6,070.3	5,509.7
Operating, administrative and other	3,419.9	3,128.6	6,602.6	5,989.1
Depreciation and amortization	57.2	67.7	115.0	139.3
Restructuring and acquisition charges	25.7	21.3	31.0	41.0
Total operating expenses	6,637.0	6,052.7	12,818.9	11,679.1
Operating Income (Loss)	290.9	197.4	495.5	317.4
Interest Expense, Net of Interest Income	26.4	35.3	43.4	59.9
Equity earnings from real estate ventures	(2.2)	(27.4)	5.3	(53.0)
Other Nonoperating Income (Expense)	3.3	2.5	5.7	4.2
Income before income taxes and noncontrolling interest	265.6	137.2	463.1	208.7
Provision for income taxes	51.3	26.7	89.4	40.7
Net income	214.3	110.5	373.7	168.0
Net income attributable to noncontrolling interest	(1.3)	(1.8)	(0.9)	0.4
Net income attributable to common shareholders	$ 215.6	$ 112.3	$ 374.6	$ 167.6
Basic earnings per common share (in dollars per share)	$ 4.66	$ 2.36	$ 8.05	$ 3.53
Basic weighted average shares outstanding (in shares)	46,244	47,483	46,538	47,475
Diluted earnings per common share (in dollars per share)	$ 4.59	$ 2.32	$ 7.91	$ 3.46
Diluted weighted average shares outstanding (in shares)	46,925	48,334	47,368	48,372
Other comprehensive income:
Net income attributable to common shareholders	$ 215.6	$ 112.3	$ 374.6	$ 167.6
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	0.0	0.0	0.0	(0.5)
Foreign currency translation adjustments	(6.2)	86.4	(18.6)	123.2
Comprehensive income attributable to the common shareholders	$ 209.4	$ 198.7	$ 356.0	$ 290.3

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows used for operating activities:
Net income	$ 373.7	$ 168.0
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	115.0	139.3
Equity in (earnings) losses	(5.3)	53.0
Distributions of earnings from real estate ventures	17.5	9.1
Provision for loss on receivables and other assets	17.8	18.4
Amortization of Deferred Compensation	78.1	66.0
Net non-cash mortgage servicing rights and mortgage banking derivative activity	15.8	17.1
Accretion of interest and amortization of debt issuance costs	2.7	3.2
Other	7.4	(1.1)
Increase (Decrease) in Receivables	19.0	171.9
Increase (Decrease) in Reimbursable Receivables and Reimbursable Payables	(247.0)	(150.9)
Increase (Decrease) in Prepaid Expense and Other Assets	35.7	(26.1)
Increase (Decrease) in Income taxes receivable, payable and deferred	(85.5)	(132.1)
Increase (Decrease) in Accounts Payable, Accrued Liabilities and Other Liabilities	20.4	(82.1)
Increase (Decrease) in Accrued Compensation	(632.2)	(688.5)
Net cash used in operating activities	(266.9)	(434.8)
Cash flows used in investing activities:
Net capital additions - property and equipment	(115.0)	(88.9)
Payments to Acquire Businesses, Net of Cash Acquired	(19.2)	(6.1)
Proceeds from Divestiture of Businesses, Net of Cash Divested	12.9	0.0
Payments to Acquire Interest in Joint Venture	(26.7)	(132.1)
Proceeds from Real Estate and Real Estate Joint Ventures	27.3	27.6
Other, net	(4.8)	(0.9)
Net cash used in investing activities	(125.5)	(200.4)
Cash flows provided by financing activities:
Proceeds from Long-term Lines of Credit	3,606.0	5,483.0
Repayments of Long-term Lines of Credit	(3,261.0)	(5,203.0)
Proceeds from Issuance of Commercial Paper	2,435.0	1,525.0
Repayments of Commercial Paper	(2,015.0)	(1,035.0)
Proceeds from (Repayments of) Short-term Debt	(10.4)	(47.9)
Payment for Contingent Consideration Liability, Financing Activities	(16.4)	(8.4)
Payments for Repurchase of Common Stock	(409.0)	(59.9)
Other, net	(77.4)	(36.3)
Net cash provided by financing activities	251.8	617.5
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(21.2)	35.5
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(161.8)	17.8
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	898.9	652.7
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	737.1	670.5
Supplemental disclosure of cash flow information:
Restricted Cash, beginning of period	299.8	236.4
Restricted Cash, end of period	278.9	269.1
Cash paid during the period for:
Interest Paid, Excluding Capitalized Interest, Operating Activity	46.8	62.3
Income taxes, net of refunds	180.4	154.1
Operating Lease, Payments	103.0	99.6
Non-cash activities
Business acquisitions, including contingent consideration	0.0	0.2
Deferred business acquisition obligations	$ 0.0	$ 0.9

Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 458.2	$ 599.1
Trade receivables, net of allowances	2,233.5	2,302.8
Notes and other receivables	434.9	450.0
Accounts Receivable, Reimbursed by Client, Current	3,090.6	3,105.0
Loans Receivable, Gross, Mortgage Warehouse Lending.	700.3	751.2
Contract with Customer, Asset, after Allowance for Credit Loss, Current	351.3	340.1
Prepaid Expense and Other Assets, Current	557.1	631.2
Total current assets	7,825.9	8,179.4
Property and equipment, net of accumulated depreciation	635.5	630.6
Operating Lease, Right-of-Use Asset	670.4	712.3
Goodwill	4,726.7	4,707.3
Identified intangibles, net of accumulated amortization	635.7	666.7
Investments	873.6	892.9
Long-term receivables	434.3	419.4
Deferred Income Tax Assets, Net	600.7	610.0
Deferred Compensation Plan Assets	797.2	723.6
Other	264.2	258.9
Total assets	17,464.2	17,801.1
Current liabilities:
Accounts Payable and Accrued Liabilities, Current	1,243.1	1,398.1
Accounts Payable, Reimbursed by Client, Current	2,283.5	2,539.6
Accrued compensation & benefits	1,316.3	1,929.6
Short-term Debt	83.4	92.7
Long-term Debt, Current Maturities	199.9	0.0
Commercial Paper	420.0	(0.2)
Short-term contract liabilities and deferred income	270.6	237.2
Warehouse facilities	700.3	759.1
Operating Lease, Liability, Current	160.0	166.7
Other	274.4	263.8
Total current liabilities	6,951.5	7,386.6
Noncurrent liabilities:
Long-term Line of Credit, Noncurrent, Net of Debt Issuance Costs	338.0	(8.5)
Long-term debt, net of debt issuance costs	596.4	805.9
Deferred Tax Liabilities, Net	66.5	56.0
Deferred compensation	786.6	737.2
Operating Lease, Liability, Noncurrent	720.9	774.4
Other	404.0	426.5
Total liabilities	9,863.9	10,178.1
Company shareholders' equity:
Common stock, $.01 par value per share	0.5	0.5
Additional paid-in capital	2,057.7	2,068.6
Retained earnings	7,443.3	7,114.0
Treasury Stock, Value	(1,434.9)	(1,094.0)
Shares held in trust	(13.8)	(13.8)
Accumulated Other Comprehensive Income (Loss), Net of Tax	(591.1)	(572.5)
Total Company shareholders' equity	7,461.7	7,502.8
Noncontrolling interest	138.6	120.2
Total equity	7,600.3	7,623.0
Total liabilities and equity	$ 17,464.2	$ 17,801.1