Cover |
12 Months Ended |
|---|---|
Dec. 31, 2022 | |
| Cover [Abstract] | |
| Document Type | DEF 14A |
| Entity Registrant Name | JONES LANG LASALLE INCORPORATED |
| Entity Central Index Key | 0001037976 |
| Amendment Flag | false |
Pay vs Performance Disclosure - USD ($) |
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Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
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| Pay vs Performance Disclosure [Table] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pay vs Performance [Table Text Block] | Pay Versus Performance
|
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Year (a) |
Summary Compensation Table (SCT) Total for CEO(2) (b) |
Compensation Actually Paid (CAP) for CEO(2) (c) |
|
Avg. SCT Total for Other NEOs(3) (d) |
Avg. CAP to Other NEOs(3) (e) |
|
Value of Initial Fixed $100 Investment Based on(1) |
Net Income(5) (h) |
AIP Adjusted EBITDA(6) (i) |
|
|
TSR (f) |
Peer Group TSR(4) (g) |
||||||||
2022 |
$12,055,766 |
$(7,762,831) |
$4,314,685 |
$(4,756,923) |
$655 |
$1,222 |
||||
2021 |
$12,856,819 |
$33,148,609 |
|
$8,187,795 |
$16,619,834 |
|
$962 |
$1,432 |
||
2020 |
$8,282,033 |
$6,272,873 |
|
$4,981,037 |
$3,770,266 |
|
$403 |
$707 |
||
(1)
Pursuant to the rules of the SEC, the comparison assumes $100 was invested on December 31, 2019 in our common stock. Historic stock price performance is not necessarily indicative of future stock price performance. (2)
The CEO for each of the fiscal years 2022, 2021, and 2020 is Mr. Ulbrich. For 2022 and 2021, our other NEOs include Ms. Brennan and Messrs. O’Brien, Lerner and Shah. For 2020, our other NEOs include Mses. Stephanie Plaines and Patricia Maxson and Messrs. O’Brien, Lerner, Shah, and Jeff Jacobson. (3)
The following adjustments relating to equity awards were made to total compensation for each year to determine compensation actually paid:
Chief Executive Officer |
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|
Year |
SCT Total for CEO |
Minus: Grant Date Fair Value of Equity Awards Granted During Applicable Year |
Plus: Year-End Fair Value of Equity Awards Granted During Applicable Year |
Plus: Change in Fair Value as of Year-End of Any Prior-Year Awards that Remain Unvested as of Year-End |
|
Plus: Change in Fair Value as of Vesting Date of Any Prior-Year Awards that Vested During Applicable Year |
|
Compensation Actually Paid |
|
|
2022 |
$12,055,766 |
$9,741,059 |
$4,725,115 |
$(13,364,160) |
$(1,438,493) |
|
$(7,762,831) |
|
|
|
2021 |
$12,856,819 |
$7,306,412 |
$13,489,870 |
$13,374,183 |
|
$734,149 |
|
$33,148,609 |
|
|
2020 |
$8,282,033 |
$4,906,575 |
$7,076,122 |
$(3,958,415) |
|
$(220,293) |
|
$6,272,873 |
|
|
1.
Amounts set forth in this table were computed in accordance with the methodology used for financial reporting purposes and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year. |
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Other Named Executive Officers |
|
Year |
SCT Total |
Minus: Grant Date Fair Value of Equity Awards Granted During Applicable Year |
Plus: Year-End Fair Value of Equity Awards Granted During Applicable Year |
Plus: Change in Fair Value as of Year-End of Any Prior-Year Awards that Remain Unvested as of Year-End |
Plus: Change in Fair Value as of Vesting Date of Any Prior-Year Awards that Vested During Applicable Year |
Compensation Actually Paid |
|
2022 |
$4,314,685 |
$2,771,149 |
$1,344,130 |
$(6,730,314) |
($914,275) |
$(4,756,923) |
|
2021 |
$8,187,795 |
$4,616,761 |
$7,008,143 |
$5,637,019 |
$403,637 |
$16,619,834 |
|
2020 |
$4,981,037 |
$1,800,436 |
$1,794,360 |
$(970,025) |
$(234,670) |
$3,770,266 |
|
1.
Amounts set forth in this table were computed in accordance with the methodology used for financial reporting purposes and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year. |
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(4)
Peer Group TSR represents the cumulative TSR of a customized group comprised of (1) CBRE Group Inc. (CBRE), a global commercial real estate services company publicly traded in the U.S., (2) Cushman & Wakefield plc (CWK), a global commercial real estate services company publicly traded in the U.S., (3) Colliers International Group Inc. (CIGI), a global commercial real estate services company, publicly traded in the U.S., and (4) Savills plc (SVS.L), a real estate services company publicly traded on the London Stock Exchange. The Peer Group TSR assumes the value of a $100 investment on December 31, 2019. (5)
The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year. (6)
The Company believes Adjusted EBITDA is the financial performance measure most closely linked to the calculation of compensation actually paid. AIP Adjusted EBITDA is defined on page 44. |
Chief Executive Officer
|
Year |
SCT Total for CEO |
Minus: Grant Date Fair Value of Equity Awards Granted During Applicable Year |
Plus: Year-End Fair Value of Equity Awards Granted During Applicable Year |
Plus: Change in Fair Value as of Year-End of Any Prior-Year Awards that Remain Unvested as of Year-End |
|
Plus: Change in Fair Value as of Vesting Date of Any Prior-Year Awards that Vested During Applicable Year |
|
Compensation Actually Paid |
|
|
2022 |
$12,055,766 |
$9,741,059 |
$4,725,115 |
$(13,364,160) |
$(1,438,493) |
|
$(7,762,831) |
|
|
|
2021 |
$12,856,819 |
$7,306,412 |
$13,489,870 |
$13,374,183 |
|
$734,149 |
|
$33,148,609 |
|
|
2020 |
$8,282,033 |
$4,906,575 |
$7,076,122 |
$(3,958,415) |
|
$(220,293) |
|
$6,272,873 |
|
|
1.
Amounts set forth in this table were computed in accordance with the methodology used for financial reporting purposes and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year. |
|||||||||
Other Named Executive Officers |
|
Year |
SCT Total |
Minus: Grant Date Fair Value of Equity Awards Granted During Applicable Year |
Plus: Year-End Fair Value of Equity Awards Granted During Applicable Year |
Plus: Change in Fair Value as of Year-End of Any Prior-Year Awards that Remain Unvested as of Year-End |
Plus: Change in Fair Value as of Vesting Date of Any Prior-Year Awards that Vested During Applicable Year |
Compensation Actually Paid |
|
2022 |
$4,314,685 |
$2,771,149 |
$1,344,130 |
$(6,730,314) |
($914,275) |
$(4,756,923) |
|
2021 |
$8,187,795 |
$4,616,761 |
$7,008,143 |
$5,637,019 |
$403,637 |
$16,619,834 |
|
2020 |
$4,981,037 |
$1,800,436 |
$1,794,360 |
$(970,025) |
$(234,670) |
$3,770,266 |
|
1.
Amounts set forth in this table were computed in accordance with the methodology used for financial reporting purposes and, for awards subject to performance-based vesting conditions, based on the probable outcome of such performance-based vesting conditions as of the last day of the fiscal year. |
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Tabular List of Financial Performance Measures
The most important financial performance measures used by the Company to link executive compensation actually paid to the Company’s CEO and NEOs, for the most recently completed fiscal year, to the Company’s performance are as follows:
AIP Adjusted EBITDA
AIP Adjusted EBITDA Margin
Free Cash Flow
GAAP EPS
Relative TSR
| [1] | The CEO for each of the fiscal years 2022, 2021, and 2020 is Mr. Ulbrich. For 2022 and 2021, our other NEOs include Ms. Brennan and Messrs. O’Brien, Lerner and Shah. For 2020, our other NEOs include Mses. Stephanie Plaines and Patricia Maxson and Messrs. O’Brien, Lerner, Shah, and Jeff Jacobson. |
| [2] | The following adjustments relating to equity awards were made to total compensation for each year to determine compensation actually paid: |
| [3] | Pursuant to the rules of the SEC, the comparison assumes $100 was invested on December 31, 2019 in our common stock. Historic stock price performance is not necessarily indicative of future stock price performance. |