Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2024	May 02, 2024
Document and Entity Information [Abstract]
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	JLL
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	36-4150422
Entity Address, Address Line One	200 East Randolph Drive
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60601
Entity File Number	1-13145
City Area Code	(312)
Local Phone Number	782-5800
Document Quarterly Report	true
Document Transition Report	false
Entity Registrant Name	Jones Lang LaSalle Incorporated
Entity Central Index Key	0001037976
Current Fiscal Year End Date	--12-31
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		47,560,547
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Document Period End Date	Mar. 31, 2024
Document Type	10-Q
Amendment Flag	false

Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 396.7	$ 410.0
Trade receivables, net of allowances	1,915.2	2,095.8
Notes and other receivables	441.2	446.4
Accounts Receivable, Reimbursed by Client, Current	2,326.8	2,321.7
Loans Receivable, Gross, Mortgage Warehouse Lending.	322.4	677.4
Contract with Customer, Asset, after Allowance for Credit Loss, Current	322.2	338.3
Prepaid Expense and Other Assets, Current	590.6	567.4
Total current assets	6,315.1	6,857.0
Property and equipment, net of accumulated depreciation	600.1	613.9
Operating Lease, Right-of-Use Asset	744.0	730.9
Goodwill	4,569.1	4,587.4
Identified intangibles, net of accumulated amortization	762.6	785.0
Investments	816.2	816.6
Long-term receivables	353.3	363.8
Deferred Income Tax Assets, Net	490.2	497.4
Deferred Compensation Plan Assets	627.1	604.3
Other	204.7	208.5
Total assets	15,482.4	16,064.8
Current liabilities:
Accounts Payable and Accrued Liabilities, Current	1,232.8	1,406.7
Accounts Payable, Reimbursed by Client, Current	1,612.0	1,796.9
Accrued compensation & benefits	1,092.9	1,698.3
Short-term Debt	124.6	147.9
Short-term contract liabilities and deferred income	219.0	226.4
Warehouse facilities	322.2	662.7
Operating Lease, Liability, Current	158.1	161.9
Other	337.5	345.3
Total current liabilities	5,099.1	6,446.1
Noncurrent liabilities:
Long-term Line of Credit, Noncurrent, Net of Debt Issuance Costs	1,381.4	610.6
Long-term debt, net of debt issuance costs	770.2	779.3
Deferred Tax Liabilities, Net	45.3	44.8
Deferred compensation	594.2	580.0
Operating Lease, Liability, Noncurrent	758.9	754.5
Other	425.7	439.6
Total liabilities	9,074.8	9,654.9
Company shareholders' equity:
Common stock, $.01 par value per share	0.5	0.5
Additional paid-in capital	1,975.8	2,019.7
Retained earnings	5,857.6	5,795.6
Treasury Stock, Value	(901.2)	(920.1)
Shares held in trust	(10.3)	(10.4)
Accumulated Other Comprehensive Income (Loss), Net of Tax	(628.9)	(591.5)
Total Company shareholders' equity	6,293.5	6,293.8
Noncontrolling interest	114.1	116.1
Total equity	6,407.6	6,409.9
Total liabilities and equity	$ 15,482.4	$ 16,064.8

Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Assets
Trade receivables, allowances	$ 75.7	$ 70.7
Contract with Customer, Asset, Allowance for Credit Loss, Current	1.5	1.6
Property and equipment, accumulated depreciation	1,058.4	1,039.1
Identified intangibles, with finite useful lives, accumulated amortization	590.6	563.0
Investments, Fair Value Disclosure	$ 743.8	$ 740.8
Company shareholders' equity
Common stock, par value (in dollars per share)	$ 0.01
Common stock, shares authorized (in shares)	100,000,000
Common Stock, Shares, Issued	52,120,548	52,120,548
Common Stock, Shares, Outstanding	47,497,345	47,509,750
Treasury Stock, Common, Shares	4,623,203	4,610,798
Long-Term Senior Notes [Member]
Unamortized Debt Issuance Expense	$ 7.7	$ 8.1
Line of Credit [Member]
Unamortized Debt Issuance Expense	$ 13.6	$ 14.4

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenue	$ 5,124.5	$ 4,715.5
Operating expenses:
Compensation and benefits	2,415.6	2,253.0
Operating, administrative and other	2,532.0	2,351.5
Depreciation and amortization	61.0	57.5
Restructuring and acquisition charges	1.7	35.7
Total operating expenses	5,010.3	4,697.7
Operating Income (Loss)	114.2	17.8
Interest Expense, Net of Interest Income	30.5	26.3
Equity earnings from real estate ventures	(3.7)	(2.6)
Other Nonoperating Income (Expense)	1.5	0.1
Income before income taxes and noncontrolling interest	81.5	(11.0)
Provision for income taxes	15.9	(2.3)
Net income	65.6	(8.7)
Net income attributable to noncontrolling interest	(0.5)	0.5
Net income attributable to the Company	66.1	(9.2)
Net income attributable to common shareholders	$ 66.1	$ (9.2)
Basic earnings per common share (in dollars per share)	$ 1.39	$ (0.19)
Basic weighted average shares outstanding (in shares)	47,485	47,555
Diluted earnings per common share (in dollars per share)	$ 1.37	$ (0.19)
Diluted weighted average shares outstanding (in shares)	48,280
Other comprehensive income:
Net income attributable to the Company	$ 66.1	$ (9.2)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	0.3	0.0
Foreign currency translation adjustments	(37.7)	26.8
Comprehensive income attributable to the common shareholders	$ 28.7	$ 17.6

Consolidated Statement of Changes in Equity (unaudited) - USD ($) $ in Millions	Total	Shares Outstanding (SoE QTD)	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Shares Held in Trust [Member]	Treasury Stock, Common	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Shares, Outstanding		47,507,758
Balances at Dec. 31, 2022	$ 6,142.5		$ 0.5	$ 2,022.6	$ 5,590.4	$ (9.8)	$ (934.6)	$ (648.2)	$ 121.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	(8.7)				(9.2)				0.5
Shares issued under stock compensation programs (in shares)		101,446
Shares issued under stock compensation programs	(21.4)			(58.0)	(14.5)		51.1
Amortization of stock compensation	16.7			16.7
Foreign currency translation adjustments (SoE QTD)	26.8							26.8
Distributions to noncontrolling interest	(0.7)								(0.7)
Balances at Mar. 31, 2023	$ 6,155.2		0.5	1,981.3	5,566.7	(9.8)	(883.5)	(621.4)	121.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Shares, Outstanding		47,609,204
Common Stock, Shares, Outstanding	47,509,750	47,509,750
Balances at Dec. 31, 2023	$ 6,409.9		$ 0.5	2,019.7	5,795.6	(10.4)	(920.1)	(591.5)	116.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	65.6				66.1				(0.5)
Shares issued under stock compensation programs (in shares)		132,118
Shares issued under stock compensation programs	(20.3)			(55.1)	(4.1)		38.9
Amortization of stock compensation	11.2			11.2
(Increase) Decrease In Common Stock Held In Trust	0.1					0.1
Treasury Stock, Shares, Acquired			(144,523)
Treasury Stock, Value, Acquired, Cost Method	(20.0)						(20.0)
Change in pension liabilities, net of tax (SoE QTD)	0.3							0.3
Foreign currency translation adjustments (SoE QTD)	(37.7)							(37.7)
Distributions to noncontrolling interest	(1.5)								(1.5)
Balances at Mar. 31, 2024	$ 6,407.6		$ 0.5	$ 1,975.8	$ 5,857.6	$ (10.3)	$ (901.2)	$ (628.9)	$ 114.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Shares, Outstanding	47,497,345	47,497,345

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows used for operating activities:
Net income	$ 65.6	$ (8.7)
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	61.0	57.5
Equity in (earnings) losses	3.7	2.6
Distributions of earnings from real estate ventures	3.2	3.8
Provision for loss on receivables and other assets	9.9	7.1
Amortization of Deferred Compensation	11.2	16.7
Net non-cash mortgage servicing rights and mortgage banking derivative activity	9.0	1.8
Accretion of interest and amortization of debt issuance costs	1.4	1.0
Other	(8.6)	0.9
Increase (Decrease) in Receivables	156.2	160.6
Increase (Decrease) in Reimbursable Receivables and Reimbursable Payables	(193.4)	(181.6)
Increase (Decrease) in Prepaid Expense and Other Assets	(18.7)	(26.5)
Increase (Decrease) in Income taxes receivable, payable and deferred	(24.4)	(43.7)
Increase (Decrease) in Accounts Payable, Accrued Liabilities and Other Liabilities	(154.5)	(56.0)
Increase (Decrease) in Accrued Compensation	(599.1)	(651.8)
Net cash used in operating activities	(677.5)	(716.3)
Cash flows used in investing activities:
Net capital additions - property and equipment	(43.2)	(49.3)
Payments to Acquire Interest in Joint Venture	(17.4)	(32.8)
Proceeds from Real Estate and Real Estate Joint Ventures	5.7	9.2
Other, net	0.6	(1.1)
Net cash used in investing activities	(54.3)	(74.0)
Cash flows provided by financing activities:
Proceeds from Long-term Lines of Credit	2,760.0	2,668.0
Repayments of Long-term Lines of Credit	(1,990.0)	(1,793.0)
Proceeds from (Repayments of) Short-term Debt	(18.7)	(62.3)
Payment for Contingent Consideration Liability, Financing Activities	(3.1)	(13.6)
Noncontrolling interest (distributions) contributions, net	(1.5)	0.0
Payments for Repurchase of Common Stock	(20.0)	0.0
Other, net	(23.3)	(23.8)
Net cash provided by financing activities	703.4	775.3
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(9.7)	4.5
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(38.1)	(10.5)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	663.4	746.0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	625.3	735.5
Supplemental disclosure of cash flow information:
Restricted Cash, beginning of period	253.4	226.7
Restricted Cash, end of period	228.6	250.1
Cash paid during the period for:
Interest Paid, Excluding Capitalized Interest, Operating Activities	22.9	23.9
Income taxes, net of refunds	41.3	34.8
Operating Lease, Payments	$ 48.7	$ 47.2

Interim Information	3 Months Ended
Interim Information	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interim Information	INTERIM INFORMATION Readers of this quarterly report should refer to the audited financial statements of Jones Lang LaSalle Incorporated ("JLL," which may also be referred to as "the Company," "we," "us" or "our") for the year ended December 31, 2023, which are included in our 2023 Annual Report on Form 10-K, filed with the United States Securities and Exchange Commission ("SEC") and also available on our website (www.jll.com), since we have omitted from this quarterly report certain footnote disclosures which would substantially duplicate those contained in such audited financial statements. You should also refer to the "Summary of Critical Accounting Policies and Estimates" section within Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations and to Note 2, Summary of Significant Accounting Policies, in the Notes to Consolidated Financial Statements in our 2023 Annual Report on Form 10-K for further discussion of our significant accounting policies and estimates. Our Condensed Consolidated Financial Statements as of March 31, 2024, and for the periods ended March 31, 2024 and 2023, are unaudited. In the opinion of management, we have included all adjustments (consisting solely of normal recurring adjustments) necessary for a fair presentation of the Condensed Consolidated Financial Statements for these interim periods. As discussed within our 2023 Annual Report on Form 10-K, specific to our Condensed Consolidated Statements of Changes in Equity and Condensed Consolidated Statements of Cash Flows, we have made certain presentation changes and recast prior-period information to conform with the current presentation. Historically, our quarterly revenue and profits have tended to increase from quarter to quarter as the year progresses. This is the result of a general focus in the real estate industry on completing transactions by calendar year end, while certain expenses are recognized evenly throughout the year. Growth in our Property Management and Workplace Management businesses as well as other annuity-based services has, to an extent, lessened the seasonality in our revenue and profits during the past several years. Within our Markets Advisory and Capital Markets segments, revenue from transaction-based activities is driven by the size and timing of our clients' transactions and can fluctuate significantly from period to period. Our LaSalle Investment Management ("LaSalle") segment generally earns investment-generated performance fees on clients' real estate investment returns when assets are sold, the timing of which is geared toward the benefit of our clients, as well as co-investment equity gains and losses, primarily dependent on underlying valuations. A significant portion of our compensation and benefits expense is from incentive compensation plans, which we generally accrue throughout the year based on progress toward annual performance targets. This process can result in significant fluctuations in quarterly compensation and benefits expense from period to period. Non-variable operating expenses, which we recognize when incurred during the year, are relatively constant on a quarterly basis. We provide for the effects of income taxes on interim financial statements based on our estimate of the effective tax rate for the full year, which we base on forecasted income by country and expected enacted tax rates. As required, we adjust for the impact of discrete items in the quarters in which they occur. Changes in the geographic mix of income can impact our estimated effective tax rate. As a result of the items mentioned above, the results for the periods ended March 31 are not fully indicative of what our results will be for the full fiscal year.

New Accounting Standards New Accounting Standards	3 Months Ended
New Accounting Standards New Accounting Standards	Mar. 31, 2024
Text Block [Abstract]
New Accounting Standards	NEW ACCOUNTING STANDARDS Recently adopted accounting guidance In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires a public entity to disclose significant segment expenses and other segment items on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. The FASB issued the ASU in response to requests from investors for companies to disclose more information about their financial performance at the segment level. The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. This ASU is effective for annual periods beginning after December 15, 2023, and for interim periods beginning after December 15, 2024, with early adoption permitted. We are evaluating the effect this guidance will have on our segment disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances the income tax disclosures to provide information to better assess how an entity’s operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. This ASU is effective for annual periods beginning after December 15, 2024, with early adoption permitted. We are evaluating the effect this guidance will have on our tax disclosures.

Revenue Recognition Revenue Recognition (Notes)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

REVENUE RECOGNITION

Capital Markets revenue excluded from the scope of Accounting Standards Codification Topic 606, Revenue from Contracts with Customers ("ASC Topic 606")

Our mortgage banking and servicing operations, comprised of (i) all Loan Servicing revenue and (ii) activities related to mortgage servicing rights ("MSR" or "MSRs") and loan origination fees (included in Investment Sales, Debt/Equity Advisory and Other), are not considered revenue from contracts with customers, and accordingly are excluded from the scope of ASC Topic 606. Such out-of-scope revenue is presented below.


	Three Months Ended March 31,
(in millions)		2024		2023
Revenue excluded from scope of ASC Topic 606		$	67.2	66.2

Contract assets and liabilities

Our contract assets, net of allowance, are included in Short-term contract assets and Other assets and our contract liabilities are included in Short-term contract liabilities and deferred income on our Condensed Consolidated Balance Sheets. The majority of contract liabilities are recognized as revenue within 90 days. Such contract assets and liabilities are presented below.


(in millions)	March 31, 2024		December 31, 2023
Contract assets, gross	$	375.5	402.3
Contract asset allowance	(1.7)		(1.8)
Contract assets, net	$	373.8	400.5

Contract liabilities	$	146.6	166.2

Remaining performance obligations

Remaining performance obligations represent the aggregate transaction price for contracts where our performance obligations have not yet been satisfied. As of March 31, 2024, the aggregate amount of transaction price allocated to remaining performance obligations represented less than 5% of our total revenue. In accordance with ASC Topic 606, excluded from the aforementioned remaining performance obligations are (i) amounts attributable to contracts expected to be completed within 12 months and (ii) variable consideration for services performed as a series of daily performance obligations, such as facilities management, property management and LaSalle contracts. A significant portion of our customer contracts, which are not expected to be fulfilled within 12 months, are represented by the contracts within these businesses.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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-Topic 606
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-Paragraph 10
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Business Segments

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Business Segments

BUSINESS SEGMENTS

We manage and report our operations as five global business segments:

(1) Markets Advisory,

(2) Capital Markets,

(3) Work Dynamics,

(4) JLL Technologies and

(5) LaSalle.

Markets Advisory offers a wide range of real estate services, including agency leasing and tenant representation, property management, advisory and consulting services. Capital Markets service offerings include investment sales, debt and equity advisory, value and risk advisory, and loan servicing. Our Work Dynamics business provides a broad suite of integrated services to occupiers of real estate, including facility and project management, as well as portfolio and other services. Our JLL Technologies segment offers software products, solutions and services, while LaSalle provides investment management services on a global basis to institutional investors and high-net-worth individuals.

We allocate all indirect expenses to our segments, other than interest and income taxes, as nearly all expenses incurred benefit one or more of the segments. Allocated expenses primarily consist of corporate functional costs across the globe, which we allocate to the business segments using an expense-specific driver-based methodology.

The Chief Operating Decision Maker ("CODM") of JLL measures and evaluates the segment results based on Adjusted EBITDA for purposes of making decisions about allocating resources and assessing performance. Adjusted EBITDA does not include (i) Restructuring and acquisition charges, (ii) gain/loss on disposal, (iii) interest on employee loans, net of forgiveness, (iv) Equity earnings/losses for JLL Technologies and LaSalle (v) net non-cash MSR and mortgage banking derivative activity, (vi) Interest expense, net of interest income, (vii) Income tax provision (benefit) and (viii) Depreciation and amortization, which are otherwise included in Net income on the Condensed Consolidated Statements of Comprehensive Income. In the first quarter of 2024, we revised the definition of Adjusted EBITDA to exclude certain Equity earnings/losses. Comparable periods have been recast to conform to the revised presentation.

Our CODM is not provided with total asset information by segment and accordingly does not measure or allocate resources based on total assets information. Therefore, we have not disclosed asset information by segment.

Summarized financial information by business segment is as follows.


	Three Months Ended March 31,
(in millions)		2024		2023
Markets Advisory
Leasing		$	497.3	487.0
Property Management		429.7		400.2
Advisory, Consulting and Other		23.1		19.2
Revenue		$	950.1	906.4
Depreciation and amortization(1)		$	16.4	16.1
Equity earnings		$	0.4	0.3
Adjusted EBITDA		$	95.3	71.6



Capital Markets
Investment Sales, Debt/Equity Advisory and Other		$	258.7	240.6
Value and Risk Advisory		80.2		79.1
Loan Servicing		38.7		37.4
Revenue		$	377.6	357.1
Depreciation and amortization		$	16.4	15.9
Equity earnings		$	0.1	0.6
Adjusted EBITDA		$	25.0	10.7



Work Dynamics
Workplace Management		$	2,871.7	2,497.2
Project Management		656.4		676.3
Portfolio Services and Other		111.4		102.7
Revenue		$	3,639.5	3,276.2
Depreciation and amortization		$	20.7	19.3
Equity earnings		$	0.7	0.4
Adjusted EBITDA		$	50.9	25.7



JLL Technologies
Revenue		$	53.9	61.4
Depreciation and amortization		$	4.5	3.9
Adjusted EBITDA(2)		$	(5.1)	(18.2)
Equity (losses) earnings		$	(1.0)	4.9



LaSalle
Advisory fees		$	92.3	100.5
Transaction fees and other		8.9		10.4
Incentive fees		2.2		3.5
Revenue		$	103.4	114.4
Depreciation and amortization		$	2.0	1.3
Adjusted EBITDA(2)		$	21.0	23.1
Equity losses		$	(3.9)	(8.8)

(1) Excludes the noncontrolling interest portion of amortization of acquisition-related intangibles which is not attributable to common shareholders.

(2) JLL Technologies and LaSalle Adjusted EBITDA excludes Equity (losses) earnings.

The following table is a reconciliation of Adjusted EBITDA to Net income attributable to common shareholders.


	Three Months Ended March 31,
(in millions)		2024		2023
Adjusted EBITDA - Markets Advisory		$	95.3	71.6
Adjusted EBITDA - Capital Markets		25.0		10.7
Adjusted EBITDA - Work Dynamics		50.9		25.7
Adjusted EBITDA - JLL Technologies		(5.1)		(18.2)
Adjusted EBITDA - LaSalle		21.0		23.1
Adjusted EBITDA - Consolidated		$	187.1	112.9
Adjustments:
Restructuring and acquisition charges		$	(1.7)	(35.7)

Interest on employee loans, net of forgiveness		1.0		(0.2)
Equity losses - JLL Technologies and LaSalle		(4.9)		(3.9)
Net non-cash MSR and mortgage banking derivative activity		(9.0)		(1.8)
Interest expense, net of interest income		(30.5)		(26.3)
Income tax (provision) benefit		(15.9)		2.3
Depreciation and amortization(1)		(60.0)		(56.5)
Net income (loss) attributable to common shareholders		$	66.1	(9.2)

(1) This adjustment excludes the noncontrolling interest portion of amortization of acquisition-related intangibles which is not attributable to common shareholders.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Business Combinations, Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2024

BUSINESS COMBINATIONS, GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]

Business Combinations, Goodwill and Other Intangible Assets

BUSINESS COMBINATIONS, GOODWILL AND OTHER INTANGIBLE ASSETS

2024 Business Combinations Activity

During the three months ended March 31, 2024, there were no strategic acquisitions. We paid $3.1 million for deferred business acquisition and earn-out obligations for acquisitions completed in prior years.

2023 Business Combinations Activity

During the three months ended March 31, 2023, we completed no strategic acquisitions. We paid $13.8 million for deferred business acquisition and earn-out obligations for acquisitions completed in prior years.

Earn-Out Payments


($ in millions)	March 31, 2024		December 31, 2023
Number of acquisitions with earn-out payments subject to the achievement of certain performance criteria	12		14
Maximum earn-out payments (undiscounted)	$	99.7	100.0
Short-term earn-out liabilities (fair value)(1)	6.2		12.0
Long-term earn-out liabilities (fair value)(1)	40.5		45.5

(1) Included in Other current and Other long-term liabilities on the Condensed 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 8, Fair Value Measurements, and Note 11, Restructuring and Acquisition Charges, for additional discussion of our earn-out liabilities.

Goodwill and Other Intangible Assets

Goodwill and unamortized intangibles as of March 31, 2024 consisted of: (1) goodwill of $4,569.1 million, (2) identifiable intangibles of $714.0 million amortized over their remaining finite useful lives and (3) $48.6 million of identifiable intangibles with indefinite useful lives that are not amortized. Notable portions of our goodwill and unamortized intangibles are denominated in currencies other than the U.S. dollar, which means a portion of the movements in the reported book value of these balances is attributable to movements in foreign currency exchange rates.

The following table details, by reporting segment, movements in goodwill.


(in millions)	Markets Advisory		Capital Markets	Work Dynamics	JLL Technologies	LaSalle	Consolidated
Balance as of December 31, 2023	$	1,759.3	1,986.4	537.7	247.7	56.3	$	4,587.4
Additions, net of adjustments	—		—	—	—	—	—

Impact of exchange rate movements	(7.5)		(8.3)	(2.3)	—	(0.2)	(18.3)
Balance as of March 31, 2024	$	1,751.8	1,978.1	535.4	247.7	56.1	$	4,569.1


(in millions)	Markets Advisory		Capital Markets	Work Dynamics	JLL Technologies	LaSalle	Consolidated
Balance as of December 31, 2022	$	1,742.9	1,949.2	532.6	247.7	55.6	$	4,528.0
Additions, net of adjustments	—		—	—	—	—	—

Impact of exchange rate movements	6.5		7.2	1.9	—	0.3	15.9
Balance as of March 31, 2023	$	1,749.4	1,956.4	534.5	247.7	55.9	$	4,543.9

The following tables detail, by intangible type, movements in the gross carrying amount and accumulated amortization of our identifiable intangibles.



(in millions)	MSRs		Other Intangibles	Consolidated
Gross Carrying Amount
Balance as of December 31, 2023	$	801.8	546.2	$	1,348.0
Additions, net of adjustments	21.9		—	21.9
Adjustment for fully amortized intangibles	(5.3)		(9.2)	(14.5)

Impact of exchange rate movements	—		(2.2)	(2.2)
Balance as of March 31, 2024	$	818.4	534.8	$	1,353.2

Accumulated Amortization
Balance as of December 31, 2023	$	(309.8)	(253.2)	$	(563.0)
Amortization expense, net(1)	(26.5)		(16.2)	(42.7)
Adjustment for fully amortized intangibles	5.3		9.2	14.5

Impact of exchange rate movements	—		0.6	0.6
Balance as of March 31, 2024	$	(331.0)	(259.6)	$	(590.6)

Net book value as of March 31, 2024	$	487.4	275.2	$	762.6

(1) Included in this amount for MSRs was $1.6 million relating to write-offs due to prepayments of sold warehouse receivables for which we retained the servicing rights. Amortization of MSRs is included in Revenue within the Condensed Consolidated Statements of Comprehensive Income.



(in millions)	MSRs		Other Intangibles	Total
Gross Carrying Amount
Balance as of December 31, 2022	$	747.3	557.0	$	1,304.3
Additions, net of adjustments	17.3		—	17.3
Adjustment for fully amortized intangibles	(9.0)		(0.4)	(9.4)

Impact of exchange rate movements	—		1.3	1.3
Balance as of March 31, 2023	$	755.6	557.9	$	1,313.5

Accumulated Amortization
Balance as of December 31, 2022	$	(242.2)	(203.6)	$	(445.8)
Amortization expense, net(1)	(26.1)		(17.5)	(43.6)
Adjustment for fully amortized intangibles	9.0		0.4	9.4

Impact of exchange rate movements	—		(0.4)	(0.4)
Balance as of March 31, 2023	$	(259.3)	(221.1)	$	(480.4)

Net book value as of March 31, 2023	$	496.3	336.8	$	833.1

(1) Included in this amount for MSRs was $2.9 million relating to write-offs due to prepayments of sold warehouse receivables for which we retained the servicing rights. Amortization of MSRs is included in Revenue within the Condensed Consolidated Statements of Comprehensive Income.

Investments

3 Months Ended

Mar. 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Investments in Real Estate Ventures

INVESTMENTS

Summarized investment balances as of March 31, 2024 and December 31, 2023 are presented in the following table.


(in millions)	March 31, 2024		December 31, 2023
JLL Technologies investments	$	402.3	397.6
LaSalle co-investments	382.5		388.3
Other investments	31.4		30.7
Total	$	816.2	816.6

Our JLL Technologies investments are, generally, investments in early to mid-stage proptech companies as well as proptech funds, while our LaSalle co-investments are, primarily, direct investments in 49 separate property or commingled funds, where we co-invest alongside our clients and for which we also have an advisory agreement.

We have maximum potential unfunded commitments to direct investments or investment vehicles of $332.7 million and $12.5 million as of March 31, 2024 for our LaSalle Investment Management business and JLL Technologies, respectively. Of the $332.7 million related to LaSalle, while we remain contractually obligated, we do not expect a call on the $60.3 million relating to a specific investment since the underlying fund moved into its liquidation phase in January 2020.

Impairment

There were no significant other-than-temporary impairment charges on investments for the three months ended March 31, 2024 and 2023.

Fair Value

We report a majority of our investments at fair value. For such investments, we increase or decrease our investment each reporting period by the change in the fair value and we report these fair value adjustments in our Condensed Consolidated Statements of Comprehensive Income within Equity losses. The table below shows the movement in our investments reported at fair value.


(in millions)	2024		2023
Fair value investments as of January 1,	$	740.8	794.9
Investments(1)	18.8		32.8
Distributions	(6.4)		(6.6)
Change in fair value, net	(3.1)		(3.3)
Foreign currency translation adjustments, net	(6.3)		7.7
Fair value investments as of March 31,	$	743.8	825.5

(1) In the first quarter of 2024, $3.2 million in Notes receivable, inclusive of accrued interest, converted to an unconsolidated equity investment. There were no conversions in the prior year quarter.

See Note 8, Fair Value Measurements, for additional discussion of our investments reported at fair value.

Stock-based Compensation

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock-based Compensation

STOCK-BASED COMPENSATION

Stock Unit Awards

Restricted stock unit ("RSU") and performance stock unit ("PSU") awards activity is presented in the following tables.


	RSU Shares (in 000's)	PSU Shares (in 000's)	Total Shares (in 000's)	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life (in years)
Unvested as of December 31, 2023	990.1	458.1	1,448.2	$	175.07	1.66
Granted	—	0.9	0.9	187.26
Vested	(191.5)	(109.0)	(300.5)	182.60
Forfeited	(22.6)	(6.5)	(29.1)	172.26
Unvested as of March 31, 2024	776.0	343.5	1,119.5	$	172.40	1.30

Unvested as of December 31, 2022	841.3	567.0	1,408.3	$	170.78	1.79
Granted	—	31.0	31.0	111.33
Vested	(145.6)	(257.2)	(402.8)	115.92
Forfeited	(7.3)	(24.4)	(31.7)	125.84
Unvested as of March 31, 2023	688.4	316.4	1,004.8	$	192.36	1.66

As of March 31, 2024, we had $61.0 million of unamortized deferred compensation related to unvested RSUs and PSUs, which we anticipate recognizing over varying periods into 2027.

Fair Value Measurements

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

We measure certain assets and liabilities in accordance with ASC Topic 820, Fair Value Measurements and Disclosures, which defines fair value as the price that would be received for an asset, or paid to transfer a liability, in an orderly transaction between market participants on the measurement date. In addition, it establishes a framework for measuring fair value according to the following three-tier fair value hierarchy:

•Level 1 - Quoted prices for identical assets or liabilities in active markets accessible as of the measurement date;

•Level 2 - Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and

•Level 3 - Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.

Financial Instruments

Our financial instruments include Cash and cash equivalents, Trade receivables, Notes and other receivables, Reimbursable receivables, Warehouse receivables, restricted cash, contract assets, Accounts payable, Reimbursable payables, Short-term borrowings, contract liabilities, Warehouse facilities, Credit facility, Long-term debt and foreign currency forward contracts. The carrying amounts of Cash and cash equivalents, Trade receivables, Notes and other receivables, Reimbursable receivables, restricted cash, contract assets, Accounts payable, Reimbursable payables, contract liabilities and the Warehouse facilities approximate their estimated fair values due to the short-term nature of these instruments. The carrying values of our Credit facility and Short-term borrowings approximate their estimated fair values given the variable interest rate terms and market spreads.

We estimated the fair value of our Long-term debt using dealer quotes that are Level 2 inputs in the fair value hierarchy. The fair value and carrying value of our debt are presented in the following table.


(in millions)	March 31, 2024		December 31, 2023
Long-term debt, fair value	$	795.2	798.1
Long-term debt, carrying value, net of debt issuance costs	770.2		779.3

Investments at Fair Value - Net Asset Value ("NAV")

We report a significant portion of our investments at fair value. For such investments, we increase or decrease our investment each reporting period by the change in the fair value, and we report these fair value adjustments in our Condensed Consolidated Statements of Comprehensive Income within Equity losses.

For a subset of our investments reported at fair value, we estimate the fair value using the NAV per share (or its equivalent) our investees provide. Critical inputs to NAV estimates included valuations of the underlying real estate assets and borrowings, which incorporate investment-specific assumptions such as discount rates, capitalization rates, rental and expense growth rates, and asset-specific market borrowing rates. We did not consider any adjustments to NAV estimates provided by investees, including adjustments for any restrictions to the transferability of ownership interests embedded within investment agreements to which we are a party, to be necessary based upon (i) our understanding of the methodology utilized and inputs incorporated to estimate NAV at the investee level, (ii) consideration of market demand for the specific types of real estate assets held by each venture and (iii) contemplation of real estate and capital markets conditions in the localities in which these ventures operate. As of March 31, 2024 and December 31, 2023, investments at fair value using NAV were $325.1 million and $321.8 million, respectively. As these investments are not required to be classified in the fair value hierarchy, they have been excluded from the following table.

Recurring Fair Value Measurements

The following table categorizes by level in the fair value hierarchy the estimated fair value of our assets and liabilities measured at fair value on a recurring basis.


	March 31, 2024				December 31, 2023
(in millions)	Level 1		Level 2	Level 3	Level 1	Level 2	Level 3
Assets
Investments - fair value	$	49.0	—	369.7	51.7	—	367.3
Foreign currency forward contracts receivable	—		3.8	—	—	12.5	—
Warehouse receivables	—		322.4	—	—	677.4	—
Deferred compensation plan assets	—		627.1	—	—	604.3	—
Mortgage banking derivative assets	—		—	139.3	—	—	128.0
Total assets at fair value	$	49.0	953.3	509.0	51.7	1,294.2	495.3
Liabilities
Foreign currency forward contracts payable	$	—	10.3	—	—	8.8	—
Deferred compensation plan liabilities	—		589.9	—	—	576.1	—
Earn-out liabilities	—		—	46.7	—	—	57.5
Mortgage banking derivative liabilities	—		—	120.4	—	—	117.7
Total liabilities at fair value	$	—	600.2	167.1	—	584.9	175.2

Investments

We classify one investment as Level 1 in the fair value hierarchy as a quoted price is readily available. We increase or decrease our investment each reporting period by the change in the fair value of the investment. We report the fair value adjustments in our Condensed Consolidated Statements of Comprehensive Income within Equity losses.

Investments classified as Level 3 in the fair value hierarchy represent investments in early-stage non-public entities where we elected the fair value option. For most of our investments, the carrying value was deemed to approximate fair value due to the proximity of the investment date, or date of most recent financing raise, to the balance sheet date, as well as consideration of investee-level performance updates. The fair value of certain investments is estimated using significant unobservable inputs which requires judgment due to the absence of market data. In determining the estimated fair value of these investments, we utilize appropriate valuation techniques including discounted cash flow analyses, scorecard method, Black-Scholes models and other methods as appropriate. Key inputs include projected cash flows, discount rates, peer group multiples and volatility.

To the extent there are changes in fair value, we recognize such changes through Equity losses.

Foreign Currency Forward Contracts

We regularly use foreign currency forward contracts to manage our currency exchange rate risk related to intercompany lending and cash management practices. These contracts are on the Consolidated Balance Sheets as current assets and current liabilities. We determine the fair values of these contracts based on current market rates. The inputs for these valuations are Level 2 in the fair value hierarchy. The following table details the gross notional value and net basis of these contracts.


(in billions)	March 31, 2024		December 31, 2023
Foreign currency forward contracts, gross notional value	$	2.10	2.07
Foreign currency forward contracts, net basis	1.16		1.21

We record the asset and liability positions for our foreign currency forward contracts based on the net payable or net receivable position with the financial institutions from which we purchase these contracts. The outstanding balances of these contracts are presented in the following table.


(in millions)	March 31, 2024		December 31, 2023
Net asset, receivable positions	$	6.4	15.2
Net asset, payable positions	(2.6)		(2.7)
Foreign currency forward contracts receivable	$	3.8	12.5

Net liability, receivable positions	$	(0.9)	(3.2)
Net liability, payable positions	11.2		12.0
Foreign currency forward contracts payable	$	10.3	8.8

Warehouse Receivables

As of March 31, 2024 and December 31, 2023, all of our Warehouse receivables were under commitment to be purchased by government-sponsored enterprises ("GSEs") or by a qualifying investor as part of a U.S. government or GSE mortgage-backed security program.

Deferred Compensation

We maintain a deferred compensation plan for certain of our U.S. employees that allows them to defer portions of their compensation. We recorded this plan on our Condensed Consolidated Balance Sheet as Deferred compensation plan assets, long-term deferred compensation plan liabilities, included in Deferred compensation, and as a reduction of equity, Shares held in trust. The components of the plan are presented in the following table.


(in millions)	March 31, 2024		December 31, 2023
Deferred compensation plan assets	$	627.1	604.3
Long-term deferred compensation plan liabilities	589.9		576.1
Shares held in trust	10.3		10.4

Earn-Out Liabilities

We classify our Earn-out liabilities within Level 3 in the fair value hierarchy because the inputs we use to develop the estimated fair value include unobservable inputs. See Note 5, Business Combinations, Goodwill and Other Intangible Assets, for additional discussion of our Earn-out liabilities.

Mortgage Banking Derivatives

Both our interest rate lock commitments to prospective borrowers and forward sale contracts with prospective investors are undesignated derivatives and considered Level 3 valuations due to significant unobservable inputs related to nonperformance risk. An increase in nonperformance risk assumptions would result in a lower fair value measurement.

The tables below present a reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3).

(in millions)


(in millions)	Balance as of December 31, 2023		Net change in fair value	Foreign CTA(1)	Purchases / Additions	Settlements	Transfers in	Balance as of March 31, 2024
Investments	$	367.3	(1.1)	(0.2)	0.5	—	3.2	$	369.7
Mortgage banking derivative assets and liabilities, net	10.3		8.7	—	23.8	(23.9)	—	18.9
Earn-out liabilities	57.5		(10.5)	—	—	(0.3)	—	46.7


(in millions)	Balance as of December 31, 2022		Net change in fair value	Foreign CTA(1)	Purchases / Additions	Settlements	Balance as of March 31, 2023
Investments	$	452.0	4.9	0.5	9.1	—	$	466.5
Mortgage banking derivative assets and liabilities, net	20.7		(5.0)	—	31.1	(34.0)	12.8
Earn-out liabilities	73.2		—	0.2	—	(0.3)	73.1

(1) CTA: Currency translation adjustments

Net change in fair value, included in the tables above, is reported in Net income as follows.


Category of Assets/Liabilities using Unobservable Inputs			Condensed Consolidated Statements of Comprehensive Income Account Caption
Earn-out liabilities (short-term and long-term)			Restructuring and acquisition charges
Investments			Equity losses
Other current assets - Mortgage banking derivative assets			Revenue
Other current liabilities - Mortgage banking derivative liabilities			Revenue

Non-Recurring Fair Value Measurements

We review our investments, except those investments otherwise reported at fair value, on a quarterly basis, or as otherwise deemed necessary, for indications of whether we may be unable to recover the carrying value of our investments and whether such investments are other than temporarily impaired. When the carrying amount of the investment is in excess of the estimated future undiscounted cash flows, we use a discounted cash flow approach or other acceptable method to determine the fair value of the investment in computing the amount of the impairment. Our determination of fair value primarily relies on Level 3 inputs. We did not recognize any significant investment-level impairment losses during either of the three months ended March 31, 2024 or 2023. See Note 6, Investments, for additional information, including information related to impairment charges recorded at the investee level.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Debt

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Debt

DEBT

Debt is composed of the following obligations.


($ in millions)	March 31, 2024		December 31, 2023
Local overdraft facilities	$	10.4	13.4
Other short-term borrowings	114.2		134.5
Short-term borrowings	$	124.6	147.9
Credit facility, net of debt issuance costs of $13.6 and $14.4	1,381.4		610.6
Long-term senior notes, 1.96%, face amount of €175.0, due June 2027, net of debt issuance costs of $0.4 and $0.4	188.5		193.3
Long-term senior notes, 6.875%, face amount of $400.0, due December 2028, net of debt issuance costs of $6.7 and $7.1	393.3		392.9
Long-term senior notes, 2.21%, face amount of €175.0, due June 2029, net of debt issuance costs of $0.6 and $0.6	188.4		193.1
Total debt	$	2,276.2	1,537.8

Credit Facilities

We have a $3.30 billion unsecured revolving credit facility (the "Facility") that matures on November 3, 2028. Pricing on the Facility ranges from Adjusted Term Secured Overnight Financing Rate ("SOFR") plus 0.875% to 1.35%, with pricing including facility fees, as of March 31, 2024 at Adjusted Term SOFR plus 0.98%. In addition to outstanding borrowings under the Facility presented in the above table, we had outstanding letters of credit under the Facility of $0.4 million as of both March 31, 2024 and December 31, 2023.

In addition, we have an uncommitted credit agreement (the "Uncommitted Facility"), which allows for discretionary short-term liquidity of up to $400.0 million. Interest and fees are set at the time of utilization and calculated on a 360-day basis. Between quarter-end dates, we intend to use the proceeds to reduce indebtedness under the Facility at a lower interest rate. As such, the Uncommitted Facility had no outstanding balance as of both March 31, 2024 and December 31, 2023.

The following table provides additional information on our Facility and Uncommitted Facility, collectively.


	Three Months Ended March 31,
($ in millions)		2024			2023
Average outstanding borrowings		$	1,056.7		1,719.9
Average effective interest rate		6.1		%	5.4	%

We will continue to use the Facility for, but not limited to, business acquisitions, working capital needs (including payment of accrued incentive compensation), co-investment activities, share repurchases and capital expenditures.

Short-Term and Long-Term Debt

In addition to our credit facilities, we have the capacity to borrow up to an additional $54.2 million under local overdraft facilities. Amounts outstanding are presented in the debt table above.

As of March 31, 2024, our issuer and senior unsecured ratings are investment grade: Baa1 from Moody’s Investors Service, Inc. and BBB+ from Standard & Poor’s Ratings Services.

Covenants

Our Facility and senior notes are subject to customary financial and other covenants, including cash interest coverage ratios and leverage ratios, as well as event of default conditions. We remained in compliance with all covenants as of March 31, 2024.

Warehouse Facilities


	March 31, 2024			December 31, 2023
($ in millions)	Outstanding Balance		Maximum Capacity	Outstanding Balance	Maximum Capacity
Warehouse facilities:
BSBY(1) plus 1.30%, expires September 16, 2024	$	86.8	700.0	159.0	700.0
SOFR plus 1.30%, expires September 14, 2024	232.6		1,200.0	405.1	1,200.0
SOFR plus 1.40%, expires July 26, 2024	3.4		400.0	62.3	400.0
Fannie Mae ASAP(2) program, SOFR plus 1.25%	—		n/a	37.3	n/a
Gross warehouse facilities	322.8		2,300.0	663.7	2,300.0
Debt issuance costs	(0.6)		n/a	(1.0)	n/a
Total warehouse facilities	$	322.2	2,300.0	662.7	2,300.0

(1) Bloomberg Short-Term Bank Yield Index rate ("BSBY")

(2) As Soon As Pooled ("ASAP") funding program.

We have lines of credit established for the sole purpose of funding our Warehouse receivables. These lines of credit exist with financial institutions and are secured by the related Warehouse receivables. Pursuant to these facilities, we are required to comply with certain financial covenants regarding (i) minimum net worth, (ii) minimum servicing-related loans and (iii) minimum adjusted leverage ratios. We remained in compliance with all covenants under our facilities as of March 31, 2024.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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+ Details

Commitments and Contingencies

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

We are a defendant in various litigation matters arising in the ordinary course of business, some of which involve claims for damages that are substantial in amount.

Professional Indemnity Insurance

In order to better manage our global insurance program and support our risk management efforts, we supplement our traditional insurance coverage for certain types of claims by using a wholly-owned captive insurance company. The level of risk retained by our captive insurance company, with respect to professional indemnity claims, is up to $10.0 million per claim. We contract third-party insurance companies to provide coverage of risk in excess of this amount. When a potential loss event occurs, we estimate the ultimate cost of the claim and accrue the amount in Other current and long-term liabilities on our Condensed Consolidated Balance Sheets when probable and estimable. In addition, we have established receivables from third-party insurance providers for claim amounts in excess of the risk retained by our captive insurance company. In total, these receivables were $2.5 million as of both March 31, 2024 and December 31, 2023, and are included in Notes and other receivables on our Condensed Consolidated Balance Sheets.

The following table shows the professional indemnity accrual activity and related payments.


(in millions)
December 31, 2023	$	9.4
New claims	0.2
Prior year claims adjustments (including foreign currency changes)	—
Claims paid	(2.4)
March 31, 2024	$	7.2

December 31, 2022	$	2.2
New claims	0.1
Prior year claims adjustments (including foreign currency changes)	—
Claims paid	—
March 31, 2023	$	2.3

Delegated Underwriting and Servicing ("DUS") Program Loan Loss-Sharing

As a participant in the DUS program, we retain a portion of the risk of loss for loans that are originated and sold under the DUS program. Net losses on defaulted loans are shared with Fannie Mae based upon established loss-sharing ratios. Generally, we share approximately one-third of incurred losses, subject to a cap of 20% of the principal balance of the mortgage at origination. As of March 31, 2024 and December 31, 2023, we had loans, funded and sold, subject to such loss-sharing arrangements with an aggregate unpaid principal balance of $21.4 billion and $20.8 billion, respectively.

For all DUS program loans with loss-sharing obligations, we record a non-contingent liability equal to the estimated fair value of the guarantee obligations undertaken upon sale of the loan, which reduces our gain on sale of the loan. Subsequently, this liability is amortized over the estimated life of the loan and recognized as Revenue on the Condensed Consolidated Statements of Comprehensive Income. As of March 31, 2024 and December 31, 2023, the loss-sharing guarantee obligations were $31.6 million and $30.9 million, respectively, and are included in Other liabilities on our Condensed Consolidated Balance Sheets. There were no loan losses incurred during the three months ended March 31, 2024 and 2023.

The loss-sharing aspect of the program represents an off-balance sheet credit exposure. We record a separate contingent reserve for this risk calculated on an individual loan level. As of March 31, 2024 and December 31, 2023, the loan loss guarantee reserve was $24.9 million and $23.4 million, respectively, and is included within Other liabilities on our Condensed Consolidated Balance Sheets.

Restructuring and Acquisition Charges

3 Months Ended

Mar. 31, 2024

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Activities Disclosure [Text Block]

RESTRUCTURING AND ACQUISITION CHARGES

Restructuring and acquisition charges include cash and non-cash expenses. Cash-based charges primarily consist of (i) severance and employment-related charges, including those related to external service providers, incurred in conjunction with a structural business shift, which can be represented by a notable change in headcount, change in leadership, or transformation of business processes, (ii) acquisition, transaction and integration-related charges and (iii) other restructuring including lease exit charges. Non-cash charges include (i) stock-based compensation expense for retention awards issued in conjunction with prior-period acquisitions and (ii) fair value adjustments to earn-out liabilities relating to prior-period acquisition activity. Restructuring and acquisition charges are presented in the table below.


	Three Months Ended March 31,
(in millions)		2024		2023
Severance and other employment-related charges		$	4.5	25.7
Restructuring, pre-acquisition and post-acquisition charges		7.4		8.2
Stock-based compensation expense for post-acquisition retention awards		0.3		1.8
Fair value adjustments to earn-out liabilities		(10.5)		—
Restructuring and acquisition charges		$	1.7	35.7

We expect nearly all expenses related to (i) severance and other employment-related charges and (ii) restructuring, pre-acquisition and post-acquisition charges as of March 31, 2024 will be paid during the next twelve months.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Accumulated Other Comprehensive Income (Loss) by Component

3 Months Ended

Mar. 31, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss) by Component

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) BY COMPONENT

The tables below present the changes in Accumulated other comprehensive income (loss) ("AOCI") by component.
















(in millions)	Pension and postretirement benefit		Cumulative foreign currency translation adjustment	Total
Balance as of December 31, 2023	$	(63.8)	(527.7)	$	(591.5)
Other comprehensive income (loss) before reclassification	0.3		(37.7)	(37.4)
Amounts reclassified from AOCI after tax expense of $ - , $ - and $ -	—		—	—
Other comprehensive income (loss) after tax expense of $ - , $ - and $ -	0.3		(37.7)	(37.4)
Balance as of March 31, 2024	$	(63.5)	(565.4)	$	(628.9)

(in millions)	Pension and postretirement benefit		Cumulative foreign currency translation adjustment	Total
Balance as of December 31, 2022	$	(64.2)	(584.0)	$	(648.2)
Other comprehensive income before reclassification	—		26.8	26.8
Amounts reclassified from AOCI after tax expense of $ - , $ - and $ -	—		—	—
Other comprehensive income after tax expense of $ - , $ - and $ -	—		26.8	26.8
Balance as of March 31, 2023	$	(64.2)	(557.2)	$	(621.4)

For pension and postretirement benefits, we report amounts reclassified from Accumulated other comprehensive income (loss) in Other income within the Condensed Consolidated Statements of Comprehensive Income.

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income attributable to the Company	$ 66.1	$ (9.2)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false

New Accounting Standards New Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2024
Text Block [Abstract]
New Accounting Standards	NEW ACCOUNTING STANDARDS Recently adopted accounting guidance In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires a public entity to disclose significant segment expenses and other segment items on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. The FASB issued the ASU in response to requests from investors for companies to disclose more information about their financial performance at the segment level. The ASU does not change how a public entity identifies its operating segments, aggregates them, or applies the quantitative thresholds to determine its reportable segments. This ASU is effective for annual periods beginning after December 15, 2023, and for interim periods beginning after December 15, 2024, with early adoption permitted. We are evaluating the effect this guidance will have on our segment disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances the income tax disclosures to provide information to better assess how an entity’s operations and related tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. This ASU is effective for annual periods beginning after December 15, 2024, with early adoption permitted. We are evaluating the effect this guidance will have on our tax disclosures.

Revenue Recognition Disaggregation of Revenue (Tables)

3 Months Ended

Mar. 31, 2024

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue [Table Text Block]


	Three Months Ended March 31,
(in millions)		2024		2023
Revenue excluded from scope of ASC Topic 606		$	67.2	66.2

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]

Such contract assets and liabilities are presented below.


(in millions)	March 31, 2024		December 31, 2023
Contract assets, gross	$	375.5	402.3
Contract asset allowance	(1.7)		(1.8)
Contract assets, net	$	373.8	400.5

Contract liabilities	$	146.6	166.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Business Segments (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Summarized Unaudited Financial Information by Business Segments

Summarized financial information by business segment is as follows.


	Three Months Ended March 31,
(in millions)		2024		2023
Markets Advisory
Leasing		$	497.3	487.0
Property Management		429.7		400.2
Advisory, Consulting and Other		23.1		19.2
Revenue		$	950.1	906.4
Depreciation and amortization(1)		$	16.4	16.1
Equity earnings		$	0.4	0.3
Adjusted EBITDA		$	95.3	71.6



Capital Markets
Investment Sales, Debt/Equity Advisory and Other		$	258.7	240.6
Value and Risk Advisory		80.2		79.1
Loan Servicing		38.7		37.4
Revenue		$	377.6	357.1
Depreciation and amortization		$	16.4	15.9
Equity earnings		$	0.1	0.6
Adjusted EBITDA		$	25.0	10.7



Work Dynamics
Workplace Management		$	2,871.7	2,497.2
Project Management		656.4		676.3
Portfolio Services and Other		111.4		102.7
Revenue		$	3,639.5	3,276.2
Depreciation and amortization		$	20.7	19.3
Equity earnings		$	0.7	0.4
Adjusted EBITDA		$	50.9	25.7



JLL Technologies
Revenue		$	53.9	61.4
Depreciation and amortization		$	4.5	3.9
Adjusted EBITDA(2)		$	(5.1)	(18.2)
Equity (losses) earnings		$	(1.0)	4.9



LaSalle
Advisory fees		$	92.3	100.5
Transaction fees and other		8.9		10.4
Incentive fees		2.2		3.5
Revenue		$	103.4	114.4
Depreciation and amortization		$	2.0	1.3
Adjusted EBITDA(2)		$	21.0	23.1
Equity losses		$	(3.9)	(8.8)

(1) Excludes the noncontrolling interest portion of amortization of acquisition-related intangibles which is not attributable to common shareholders.

(2) JLL Technologies and LaSalle Adjusted EBITDA excludes Equity (losses) earnings.

The following table is a reconciliation of Adjusted EBITDA to Net income attributable to common shareholders.


	Three Months Ended March 31,
(in millions)		2024		2023
Adjusted EBITDA - Markets Advisory		$	95.3	71.6
Adjusted EBITDA - Capital Markets		25.0		10.7
Adjusted EBITDA - Work Dynamics		50.9		25.7
Adjusted EBITDA - JLL Technologies		(5.1)		(18.2)
Adjusted EBITDA - LaSalle		21.0		23.1
Adjusted EBITDA - Consolidated		$	187.1	112.9
Adjustments:
Restructuring and acquisition charges		$	(1.7)	(35.7)

Interest on employee loans, net of forgiveness		1.0		(0.2)
Equity losses - JLL Technologies and LaSalle		(4.9)		(3.9)
Net non-cash MSR and mortgage banking derivative activity		(9.0)		(1.8)
Interest expense, net of interest income		(30.5)		(26.3)
Income tax (provision) benefit		(15.9)		2.3
Depreciation and amortization(1)		(60.0)		(56.5)
Net income (loss) attributable to common shareholders		$	66.1	(9.2)

(1) This adjustment excludes the noncontrolling interest portion of amortization of acquisition-related intangibles which is not attributable to common shareholders.

Business Combinations, Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Business Acquisitions, Pro Forma Revenue [Line Items]

Summary of Earn-out Payments [Table Text Block]

Earn-Out Payments


($ in millions)	March 31, 2024		December 31, 2023
Number of acquisitions with earn-out payments subject to the achievement of certain performance criteria	12		14
Maximum earn-out payments (undiscounted)	$	99.7	100.0
Short-term earn-out liabilities (fair value)(1)	6.2		12.0
Long-term earn-out liabilities (fair value)(1)	40.5		45.5

(1) Included in Other current and Other long-term liabilities on the Condensed Consolidated Balance Sheets.

Movements in Goodwill by Reporting Segment

The following table details, by reporting segment, movements in goodwill.


(in millions)	Markets Advisory		Capital Markets	Work Dynamics	JLL Technologies	LaSalle	Consolidated
Balance as of December 31, 2023	$	1,759.3	1,986.4	537.7	247.7	56.3	$	4,587.4
Additions, net of adjustments	—		—	—	—	—	—

Impact of exchange rate movements	(7.5)		(8.3)	(2.3)	—	(0.2)	(18.3)
Balance as of March 31, 2024	$	1,751.8	1,978.1	535.4	247.7	56.1	$	4,569.1


(in millions)	Markets Advisory		Capital Markets	Work Dynamics	JLL Technologies	LaSalle	Consolidated
Balance as of December 31, 2022	$	1,742.9	1,949.2	532.6	247.7	55.6	$	4,528.0
Additions, net of adjustments	—		—	—	—	—	—

Impact of exchange rate movements	6.5		7.2	1.9	—	0.3	15.9
Balance as of March 31, 2023	$	1,749.4	1,956.4	534.5	247.7	55.9	$	4,543.9

Movements in Gross Carrying Amount and Accumulated Amortization of Finite-Lived Intangible Assets

The following tables detail, by intangible type, movements in the gross carrying amount and accumulated amortization of our identifiable intangibles.



(in millions)	MSRs		Other Intangibles	Consolidated
Gross Carrying Amount
Balance as of December 31, 2023	$	801.8	546.2	$	1,348.0
Additions, net of adjustments	21.9		—	21.9
Adjustment for fully amortized intangibles	(5.3)		(9.2)	(14.5)

Impact of exchange rate movements	—		(2.2)	(2.2)
Balance as of March 31, 2024	$	818.4	534.8	$	1,353.2

Accumulated Amortization
Balance as of December 31, 2023	$	(309.8)	(253.2)	$	(563.0)
Amortization expense, net(1)	(26.5)		(16.2)	(42.7)
Adjustment for fully amortized intangibles	5.3		9.2	14.5

Impact of exchange rate movements	—		0.6	0.6
Balance as of March 31, 2024	$	(331.0)	(259.6)	$	(590.6)

Net book value as of March 31, 2024	$	487.4	275.2	$	762.6

(1) Included in this amount for MSRs was $1.6 million relating to write-offs due to prepayments of sold warehouse receivables for which we retained the servicing rights. Amortization of MSRs is included in Revenue within the Condensed Consolidated Statements of Comprehensive Income.



(in millions)	MSRs		Other Intangibles	Total
Gross Carrying Amount
Balance as of December 31, 2022	$	747.3	557.0	$	1,304.3
Additions, net of adjustments	17.3		—	17.3
Adjustment for fully amortized intangibles	(9.0)		(0.4)	(9.4)

Impact of exchange rate movements	—		1.3	1.3
Balance as of March 31, 2023	$	755.6	557.9	$	1,313.5

Accumulated Amortization
Balance as of December 31, 2022	$	(242.2)	(203.6)	$	(445.8)
Amortization expense, net(1)	(26.1)		(17.5)	(43.6)
Adjustment for fully amortized intangibles	9.0		0.4	9.4

Impact of exchange rate movements	—		(0.4)	(0.4)
Balance as of March 31, 2023	$	(259.3)	(221.1)	$	(480.4)

Net book value as of March 31, 2023	$	496.3	336.8	$	833.1

(1) Included in this amount for MSRs was $2.9 million relating to write-offs due to prepayments of sold warehouse receivables for which we retained the servicing rights. Amortization of MSRs is included in Revenue within the Condensed Consolidated Statements of Comprehensive Income.

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 1
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
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-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Investments (Tables)

3 Months Ended

Mar. 31, 2024

Equity Method Investments and Joint Ventures [Abstract]

Summarized Investment balances

Summarized investment balances as of March 31, 2024 and December 31, 2023 are presented in the following table.


(in millions)	March 31, 2024		December 31, 2023
JLL Technologies investments	$	402.3	397.6
LaSalle co-investments	382.5		388.3
Other investments	31.4		30.7
Total	$	816.2	816.6

Investments in real estate ventures, Fair Value

The table below shows the movement in our investments reported at fair value.


(in millions)	2024		2023
Fair value investments as of January 1,	$	740.8	794.9
Investments(1)	18.8		32.8
Distributions	(6.4)		(6.6)
Change in fair value, net	(3.1)		(3.3)
Foreign currency translation adjustments, net	(6.3)		7.7
Fair value investments as of March 31,	$	743.8	825.5

(1) In the first quarter of 2024, $3.2 million in Notes receivable, inclusive of accrued interest, converted to an unconsolidated equity investment. There were no conversions in the prior year quarter.

Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Restricted Stock Unit and Performance Stock Unit Activity

Restricted stock unit ("RSU") and performance stock unit ("PSU") awards activity is presented in the following tables.


	RSU Shares (in 000's)	PSU Shares (in 000's)	Total Shares (in 000's)	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Life (in years)
Unvested as of December 31, 2023	990.1	458.1	1,448.2	$	175.07	1.66
Granted	—	0.9	0.9	187.26
Vested	(191.5)	(109.0)	(300.5)	182.60
Forfeited	(22.6)	(6.5)	(29.1)	172.26
Unvested as of March 31, 2024	776.0	343.5	1,119.5	$	172.40	1.30

Unvested as of December 31, 2022	841.3	567.0	1,408.3	$	170.78	1.79
Granted	—	31.0	31.0	111.33
Vested	(145.6)	(257.2)	(402.8)	115.92
Forfeited	(7.3)	(24.4)	(31.7)	125.84
Unvested as of March 31, 2023	688.4	316.4	1,004.8	$	192.36	1.66

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The fair value and carrying value of our debt are presented in the following table.


(in millions)	March 31, 2024		December 31, 2023
Long-term debt, fair value	$	795.2	798.1
Long-term debt, carrying value, net of debt issuance costs	770.2		779.3

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table categorizes by level in the fair value hierarchy the estimated fair value of our assets and liabilities measured at fair value on a recurring basis.


	March 31, 2024				December 31, 2023
(in millions)	Level 1		Level 2	Level 3	Level 1	Level 2	Level 3
Assets
Investments - fair value	$	49.0	—	369.7	51.7	—	367.3
Foreign currency forward contracts receivable	—		3.8	—	—	12.5	—
Warehouse receivables	—		322.4	—	—	677.4	—
Deferred compensation plan assets	—		627.1	—	—	604.3	—
Mortgage banking derivative assets	—		—	139.3	—	—	128.0
Total assets at fair value	$	49.0	953.3	509.0	51.7	1,294.2	495.3
Liabilities
Foreign currency forward contracts payable	$	—	10.3	—	—	8.8	—
Deferred compensation plan liabilities	—		589.9	—	—	576.1	—
Earn-out liabilities	—		—	46.7	—	—	57.5
Mortgage banking derivative liabilities	—		—	120.4	—	—	117.7
Total liabilities at fair value	$	—	600.2	167.1	—	584.9	175.2

Foreign currency forward contracts, gross notional value and net basis

The following table details the gross notional value and net basis of these contracts.


(in billions)	March 31, 2024		December 31, 2023
Foreign currency forward contracts, gross notional value	$	2.10	2.07
Foreign currency forward contracts, net basis	1.16		1.21

Schedule of Foreign Exchange Contracts, Statement of Financial Position

The outstanding balances of these contracts are presented in the following table.


(in millions)	March 31, 2024		December 31, 2023
Net asset, receivable positions	$	6.4	15.2
Net asset, payable positions	(2.6)		(2.7)
Foreign currency forward contracts receivable	$	3.8	12.5

Net liability, receivable positions	$	(0.9)	(3.2)
Net liability, payable positions	11.2		12.0
Foreign currency forward contracts payable	$	10.3	8.8

Schedule of Deferred Compensation Plan Components [Table]

The components of the plan are presented in the following table.


(in millions)	March 31, 2024		December 31, 2023
Deferred compensation plan assets	$	627.1	604.3
Long-term deferred compensation plan liabilities	589.9		576.1
Shares held in trust	10.3		10.4

Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The tables below present a reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3).

(in millions)


(in millions)	Balance as of December 31, 2023		Net change in fair value	Foreign CTA(1)	Purchases / Additions	Settlements	Transfers in	Balance as of March 31, 2024
Investments	$	367.3	(1.1)	(0.2)	0.5	—	3.2	$	369.7
Mortgage banking derivative assets and liabilities, net	10.3		8.7	—	23.8	(23.9)	—	18.9
Earn-out liabilities	57.5		(10.5)	—	—	(0.3)	—	46.7


(in millions)	Balance as of December 31, 2022		Net change in fair value	Foreign CTA(1)	Purchases / Additions	Settlements	Balance as of March 31, 2023
Investments	$	452.0	4.9	0.5	9.1	—	$	466.5
Mortgage banking derivative assets and liabilities, net	20.7		(5.0)	—	31.1	(34.0)	12.8
Earn-out liabilities	73.2		—	0.2	—	(0.3)	73.1

(1) CTA: Currency translation adjustments

Fair Value, Qualitative Disclosures About Assets and Liabilities using Unobservable Inputs

Net change in fair value, included in the tables above, is reported in Net income as follows.


Category of Assets/Liabilities using Unobservable Inputs			Condensed Consolidated Statements of Comprehensive Income Account Caption
Earn-out liabilities (short-term and long-term)			Restructuring and acquisition charges
Investments			Equity losses
Other current assets - Mortgage banking derivative assets			Revenue
Other current liabilities - Mortgage banking derivative liabilities			Revenue

Debt Short-Term Borrowings and Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

Debt is composed of the following obligations.


($ in millions)	March 31, 2024		December 31, 2023
Local overdraft facilities	$	10.4	13.4
Other short-term borrowings	114.2		134.5
Short-term borrowings	$	124.6	147.9
Credit facility, net of debt issuance costs of $13.6 and $14.4	1,381.4		610.6
Long-term senior notes, 1.96%, face amount of €175.0, due June 2027, net of debt issuance costs of $0.4 and $0.4	188.5		193.3
Long-term senior notes, 6.875%, face amount of $400.0, due December 2028, net of debt issuance costs of $6.7 and $7.1	393.3		392.9
Long-term senior notes, 2.21%, face amount of €175.0, due June 2029, net of debt issuance costs of $0.6 and $0.6	188.4		193.1
Total debt	$	2,276.2	1,537.8

Schedule of Credit Facility, Average Outstanding Amount [Table Text Block]

The following table provides additional information on our Facility and Uncommitted Facility, collectively.


	Three Months Ended March 31,
($ in millions)		2024			2023
Average outstanding borrowings		$	1,056.7		1,719.9
Average effective interest rate		6.1		%	5.4	%

Debt Warehouse Facilities (Tables)

3 Months Ended

Mar. 31, 2024

Warehouse Facilities [Abstract]

Schedule of Warehouse Facilities

Warehouse Facilities


	March 31, 2024			December 31, 2023
($ in millions)	Outstanding Balance		Maximum Capacity	Outstanding Balance	Maximum Capacity
Warehouse facilities:
BSBY(1) plus 1.30%, expires September 16, 2024	$	86.8	700.0	159.0	700.0
SOFR plus 1.30%, expires September 14, 2024	232.6		1,200.0	405.1	1,200.0
SOFR plus 1.40%, expires July 26, 2024	3.4		400.0	62.3	400.0
Fannie Mae ASAP(2) program, SOFR plus 1.25%	—		n/a	37.3	n/a
Gross warehouse facilities	322.8		2,300.0	663.7	2,300.0
Debt issuance costs	(0.6)		n/a	(1.0)	n/a
Total warehouse facilities	$	322.2	2,300.0	662.7	2,300.0

(1) Bloomberg Short-Term Bank Yield Index rate ("BSBY")

(2) As Soon As Pooled ("ASAP") funding program.

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Loss Contingencies by Contingency [Table Text Block]

The following table shows the professional indemnity accrual activity and related payments.


(in millions)
December 31, 2023	$	9.4
New claims	0.2
Prior year claims adjustments (including foreign currency changes)	—
Claims paid	(2.4)
March 31, 2024	$	7.2

December 31, 2022	$	2.2
New claims	0.1
Prior year claims adjustments (including foreign currency changes)	—
Claims paid	—
March 31, 2023	$	2.3

Restructuring and Acquisition Charges Restructuring and Related Activities (Tables)

3 Months Ended

Mar. 31, 2024

Restructuring Cost and Reserve [Line Items]

Restructuring, Impairment, and Other Activities Disclosure [Text Block]

Restructuring and acquisition charges are presented in the table below.


	Three Months Ended March 31,
(in millions)		2024		2023
Severance and other employment-related charges		$	4.5	25.7
Restructuring, pre-acquisition and post-acquisition charges		7.4		8.2
Stock-based compensation expense for post-acquisition retention awards		0.3		1.8
Fair value adjustments to earn-out liabilities		(10.5)		—
Restructuring and acquisition charges		$	1.7	35.7

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Accumulated Other Comprehensive Income (Loss) by Component (Tables)

3 Months Ended

Mar. 31, 2024

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The tables below present the changes in Accumulated other comprehensive income (loss) ("AOCI") by component.
















(in millions)	Pension and postretirement benefit		Cumulative foreign currency translation adjustment	Total
Balance as of December 31, 2023	$	(63.8)	(527.7)	$	(591.5)
Other comprehensive income (loss) before reclassification	0.3		(37.7)	(37.4)
Amounts reclassified from AOCI after tax expense of $ - , $ - and $ -	—		—	—
Other comprehensive income (loss) after tax expense of $ - , $ - and $ -	0.3		(37.7)	(37.4)
Balance as of March 31, 2024	$	(63.5)	(565.4)	$	(628.9)

(in millions)	Pension and postretirement benefit		Cumulative foreign currency translation adjustment	Total
Balance as of December 31, 2022	$	(64.2)	(584.0)	$	(648.2)
Other comprehensive income before reclassification	—		26.8	26.8
Amounts reclassified from AOCI after tax expense of $ - , $ - and $ -	—		—	—
Other comprehensive income after tax expense of $ - , $ - and $ -	—		26.8	26.8
Balance as of March 31, 2023	$	(64.2)	(557.2)	$	(621.4)

Revenue Recognition Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Percentage of Revenue, Remaining Performance Obligation	5.00%
Out of Scope of Topic 606 Revenue [Member]
Disaggregation of Revenue [Line Items]
Fees and Commissions, Mortgage Banking and Servicing	$ 67.2	$ 66.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Revenue Recognition Contract Assets & Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Contract with Customer, Asset, before Allowance for Credit Loss	$ 375.5	$ 402.3
Contract with Customer, Asset, Allowance for Credit Loss	(1.7)	(1.8)
Contract with Customer, Asset, after Allowance for Credit Loss	373.8	400.5
Contract with Customer, Liability	$ 146.6	$ 166.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Business Segments (Details) - USD ($) $ in Millions	3 Months Ended
Business Segments (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Net income attributable to common shareholders	$ 66.1	$ (9.2)
Restructuring and acquisition charges	(1.7)	(35.7)
Interest on employee loans, net	1.0	(0.2)
Equity losses - JLL Technologies and LaSalle	(4.9)	(3.9)
Net non-cash MSR and mortgage banking derivative activity	(9.0)	(1.8)
Interest Expense, Net of Interest Income	(30.5)	(26.3)
Provision for income taxes	(15.9)	2.3
Depreciation and amortization adjusted	(60.0)	(56.5)
Depreciation and amortization	(61.0)	(57.5)
Equity in earnings (losses)	(3.7)	(2.6)
Adjusted EBITDA	187.1	112.9
Segment revenue:
Revenue	5,124.5	4,715.5
Markets Advisory
Segment Reporting Information [Line Items]
Depreciation and amortization adjusted	(16.4)	(16.1)
Equity in earnings (losses)	0.4	0.3
Adjusted EBITDA	95.3	71.6
Segment revenue:
Revenue	950.1	906.4
Capital Markets
Segment Reporting Information [Line Items]
Depreciation and amortization	(16.4)	(15.9)
Equity in earnings (losses)	0.1	0.6
Adjusted EBITDA	25.0	10.7
Segment revenue:
Revenue	377.6	357.1
Work Dynamics
Segment Reporting Information [Line Items]
Depreciation and amortization	(20.7)	(19.3)
Equity in earnings (losses)	0.7	0.4
Adjusted EBITDA	50.9	25.7
Segment revenue:
Revenue	3,639.5	3,276.2
JLL Technologies
Segment Reporting Information [Line Items]
Depreciation and amortization	(4.5)	(3.9)
Equity in earnings (losses)	(1.0)	4.9
Adjusted EBITDA	(5.1)	(18.2)
Segment revenue:
Revenue	53.9	61.4
LaSalle Investment Management
Segment Reporting Information [Line Items]
Depreciation and amortization	(2.0)	(1.3)
Equity in earnings (losses)	(3.9)	(8.8)
Adjusted EBITDA	21.0	23.1
Segment revenue:
Revenue	103.4	114.4
Leasing \| Markets Advisory
Segment revenue:
Revenue	497.3	487.0
Property Management \| Markets Advisory
Segment revenue:
Revenue	429.7	400.2
Advisory and Consulting \| Markets Advisory
Segment revenue:
Revenue	23.1	19.2
Investment Sales, Debt/Equity Advisory and Other \| Capital Markets
Segment revenue:
Revenue	258.7	240.6
Value and Risk Advisory \| Capital Markets
Segment revenue:
Revenue	80.2	79.1
Loan Servicing \| Capital Markets
Segment revenue:
Revenue	38.7	37.4
Workplace Management \| Work Dynamics
Segment revenue:
Revenue	2,871.7	2,497.2
Project Management \| Work Dynamics
Segment revenue:
Revenue	656.4	676.3
Portfolio Services and Other \| Work Dynamics
Segment revenue:
Revenue	111.4	102.7
Advisory Fees \| LaSalle Investment Management
Segment revenue:
Revenue	92.3	100.5
Transaction Fees & Other \| LaSalle Investment Management
Segment revenue:
Revenue	8.9	10.4
Incentive Fees \| LaSalle Investment Management
Segment revenue:
Revenue	$ 2.2	$ 3.5

Business Combinations (Details) - USD ($) $ in Millions	3 Months Ended
Business Combinations (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Business Acquisition [Line Items]
Payment for Contingent Consideration Liability, Total	$ 3.1	$ 13.8

Business Combinations, Goodwill and Other Intangible Assets Business Combinations, Earn-out Payments (Details) $ in Millions	Mar. 31, 2024 USD ($) acquisition	Dec. 31, 2023 USD ($) acquisition
Summary of Earn-out Payments [Line Items]
Number Of Acquisitions Subject To Potential Earn Out Payments Provisions \| acquisition	12	14
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, High, Value	$ 99.7	$ 100.0
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Summary of Earn-out Payments [Line Items]
Business Combination, Contingent Consideration, Liability, Current	6.2	12.0
Business Combination, Contingent Consideration, Liability, Noncurrent	$ 40.5	$ 45.5

Business Combinations, Goodwill by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Goodwill [Roll Forward]
Goodwill	$ 4,587.4	$ 4,528.0
Goodwill Additions, net of adjustments	0.0	0.0
Goodwill, Translation Adjustments	(18.3)	15.9
Goodwill	4,569.1	4,543.9
Markets Advisory
Goodwill [Roll Forward]
Goodwill	1,759.3	1,742.9
Goodwill Additions, net of adjustments	0.0	0.0
Goodwill, Translation Adjustments	(7.5)	6.5
Goodwill	1,751.8	1,749.4
Capital Markets
Goodwill [Roll Forward]
Goodwill	1,986.4	1,949.2
Goodwill Additions, net of adjustments	0.0	0.0
Goodwill, Translation Adjustments	(8.3)	7.2
Goodwill	1,978.1	1,956.4
Work Dynamics
Goodwill [Roll Forward]
Goodwill	537.7	532.6
Goodwill Additions, net of adjustments	0.0	0.0
Goodwill, Translation Adjustments	(2.3)	1.9
Goodwill	535.4	534.5
JLL Technologies
Goodwill [Roll Forward]
Goodwill	247.7	247.7
Goodwill Additions, net of adjustments	0.0	0.0
Goodwill, Translation Adjustments	0.0	0.0
Goodwill	247.7	247.7
LaSalle Investment Management
Goodwill [Roll Forward]
Goodwill	56.3	55.6
Goodwill Additions, net of adjustments	0.0	0.0
Goodwill, Translation Adjustments	(0.2)	0.3
Goodwill	$ 56.1	$ 55.9

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Business Combinations Other Intangibles by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Schedule of Finite and Indefinite lived Intangible Assets by Segment [Line Items]
Finite-Lived Intangible Assets, Net	$ 714.0
Identifiable intangibles with indefinite useful lives	48.6
Finite and Indefinite lived Intangible Assets, Additions	21.9	$ 17.3
Adjustment for fully amortized intangibles	(14.5)	(9.4)
Finite And Indefinite Lived Intangible Assets Translation Adjustments	(2.2)	1.3
Intangible Assets, Gross (Excluding Goodwill)	1,353.2	1,313.5	$ 1,348.0	$ 1,304.3
Identified intangibles, with finite useful lives, accumulated amortization	(590.6)	(480.4)	(563.0)	(445.8)
Amortization expense	(42.7)	(43.6)
Accumulated Amortization Adjustment for fully Amortized Intangibles	14.5	9.4
Impact of exchange rate movements	0.6	(0.4)
Net book value as of end of period	762.6	833.1	785.0
Servicing Asset at Amortized Cost, Other than Temporary Impairments	1.6	2.9
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Total	714.0
Mortgage servicing rights [Member]
Schedule of Finite and Indefinite lived Intangible Assets by Segment [Line Items]
Finite and Indefinite lived Intangible Assets, Additions	21.9	17.3
Adjustment for fully amortized intangibles	(5.3)	(9.0)
Finite And Indefinite Lived Intangible Assets Translation Adjustments	0.0	0.0
Intangible Assets, Gross (Excluding Goodwill)	818.4	755.6	801.8	747.3
Identified intangibles, with finite useful lives, accumulated amortization	(331.0)	(259.3)	(309.8)	(242.2)
Amortization expense	(26.5)	(26.1)
Accumulated Amortization Adjustment for fully Amortized Intangibles	5.3	9.0
Impact of exchange rate movements	0.0	0.0
Net book value as of end of period	487.4	496.3
Other Intangible Assets [Member]
Schedule of Finite and Indefinite lived Intangible Assets by Segment [Line Items]
Finite and Indefinite lived Intangible Assets, Additions	0.0	0.0
Adjustment for fully amortized intangibles	(9.2)	(0.4)
Finite And Indefinite Lived Intangible Assets Translation Adjustments	(2.2)	1.3
Intangible Assets, Gross (Excluding Goodwill)	534.8	557.9	546.2	557.0
Identified intangibles, with finite useful lives, accumulated amortization	(259.6)	(221.1)	$ (253.2)	$ (203.6)
Amortization expense	(16.2)	(17.5)
Accumulated Amortization Adjustment for fully Amortized Intangibles	9.2	0.4
Impact of exchange rate movements	0.6	(0.4)
Net book value as of end of period	$ 275.2	$ 336.8

Investments (Details) $ in Millions	3 Months Ended
Investments (Details) $ in Millions	Mar. 31, 2024 USD ($) investment	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Schedule of Equity Method Investments [Line Items]
Number of separate property or fund co-investments \| investment	49
Investments	$ 816.2		$ 816.6
Fair Value [Abstract]
Fair value investments at beginning of the period	740.8	$ 794.9
Investments in Real Estate Ventures, at Fair Value, Additions	18.8	32.8
Investments in Real Estate Ventures, at Fair Value, Distributions	(6.4)	(6.6)
Unrealized Gain (Loss) on Investments	(3.1)	(3.3)
Investments in Real Estate Ventures, at Fair Value, Foreign Currency Translation	(6.3)	7.7
Fair value investments at end of the period	743.8	825.5
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member]
Fair Value [Abstract]
Fair value investments at beginning of the period	367.3	452.0
Fair value investments at end of the period	369.7	$ 73.1
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member] \| Investments [Member]
Fair Value [Abstract]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	3.2
JLL Technologies
Schedule of Equity Method Investments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	12.5
Investments	402.3		397.6
LaSalle Investment Company II [Member]
Schedule of Equity Method Investments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	60.3
LaSalle Investment Management
Schedule of Equity Method Investments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	332.7
Investments	382.5		388.3
Other Investments and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures
Schedule of Equity Method Investments [Line Items]
Investments	$ 31.4		$ 30.7

Stock-based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock Units (RSUs)
Share-based Payment activity [Roll Forward]
Unvested at beginning of period (in shares)	990,100	841,300	841,300
Granted (in shares)	0	0
Vested (in shares)	(191,500)	(145,600)
Forfeited (in shares)	(22,600)	(7,300)
Unvested at end of period (in shares)	776,000.0	688,400	990,100	841,300
Performance Shares [Member]
Share-based Payment activity [Roll Forward]
Unvested at beginning of period (in shares)	458,100	567,000.0	567,000.0
Granted (in shares)	900	31,000.0
Vested (in shares)	(109,000.0)	(257,200)
Forfeited (in shares)	(6,500)	(24,400)
Unvested at end of period (in shares)	343,500	316,400	458,100	567,000.0
Share-based Payment Arrangement [Member]
Share-based Payment activity [Roll Forward]
Unvested at beginning of period (in shares)	1,448,200	1,408,300	1,408,300
Granted (in shares)	900	31,000.0
Vested (in shares)	(300,500)	(402,800)
Forfeited (in shares)	(29,100)	(31,700)
Unvested at end of period (in shares)	1,119,500	1,004,800	1,448,200	1,408,300
Share-based Payment activity, additional disclosures [Abstract]
Weighted average grant date fair value, beginning of period (in dollars per share)	$ 175.07	$ 170.78	$ 170.78
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	187.26	111.33
Weighted average grant date fair value, vested (in dollars per share)	182.60	115.92
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	172.26	125.84
Weighted average grant date fair value, end of period (in dollars per share)	$ 172.40	$ 192.36	$ 175.07	$ 170.78
Weighted average remaining contractual life, unvested shares outstanding	1 year 3 months 18 days	1 year 7 months 28 days	1 year 7 months 28 days	1 year 9 months 14 days
Unamortized deferred compensation cost	$ 61.0

Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of long-term debt	$ 795.2	$ 798.1
Long-term debt, net of debt issuance costs	770.2	779.3
Derivative, Notional Amount	2,100.0	2,070.0
Foreign currency forward contracts, net notional value	1,160.0	1,210.0
Investments, Fair Value Disclosure	743.8	740.8	$ 825.5	$ 794.9
Deferred compensation plan, contra-equity, shares held in trust	10.3	10.4
Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset	6.4	15.2
Derivative Asset, Fair Value, Gross Liability	(2.6)	(2.7)
Derivative Liability, Fair Value, Gross Asset	(0.9)	(3.2)
Derivative Liability, Fair Value, Gross Liability	11.2	12.0
Fair Value, Recurring [Member] \| Fair Value Measured at Net Asset Value Per Share [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	325.1	321.8
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	0.0	0.0
Foreign currency forward contract, current asset amount	3.8	12.5
Foreign currency forward contract, current liability amount	10.3	8.8
Deferred compensation plan assets	627.1	604.3
Deferred compensation plan liabilities	589.9	576.1
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	369.7	367.3	$ 73.1	$ 452.0
Foreign currency forward contract, current asset amount	0.0	0.0
Foreign currency forward contract, current liability amount	0.0	0.0
Deferred compensation plan assets	0.0	0.0
Deferred compensation plan liabilities	$ 0.0	$ 0.0

Fair Value Measurements (Assets and Liabilities Measured on a Recurring Basis) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	$ 743.8	$ 825.5	$ 740.8	$ 794.9
Fair Value, Inputs, Level 1 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	49.0		51.7
Foreign currency forward contracts receivable	0.0		0.0
Loans Receivable, Fair Value Disclosure	0.0		0.0
Deferred compensation plan assets	0.0		0.0
Mortgage banking derivative asset	0.0		0.0
Total assets at fair value	49.0		51.7
Foreign currency forward contracts payable	0.0		0.0
Deferred compensation plan liabilities	0.0		0.0
Business Combination, Contingent Consideration, Liability	0.0		0.0
Mortgage banking derivative liabilities	0.0		0.0
Total liabilities at fair value	0.0		0.0
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	0.0		0.0
Foreign currency forward contracts receivable	3.8		12.5
Loans Receivable, Fair Value Disclosure	322.4		677.4
Deferred compensation plan assets	627.1		604.3
Mortgage banking derivative asset	0.0		0.0
Total assets at fair value	953.3		1,294.2
Foreign currency forward contracts payable	10.3		8.8
Deferred compensation plan liabilities	589.9		576.1
Business Combination, Contingent Consideration, Liability	0.0		0.0
Mortgage banking derivative liabilities	0.0		0.0
Total liabilities at fair value	600.2		584.9
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	18.9	12.8	10.3	20.7
Investments, Fair Value Disclosure	369.7	73.1	367.3	452.0
Foreign currency forward contracts receivable	0.0		0.0
Loans Receivable, Fair Value Disclosure	0.0		0.0
Deferred compensation plan assets	0.0		0.0
Mortgage banking derivative asset	139.3		128.0
Total assets at fair value	509.0		495.3
Foreign currency forward contracts payable	0.0		0.0
Deferred compensation plan liabilities	0.0		0.0
Business Combination, Contingent Consideration, Liability	46.7	466.5	57.5	$ 73.2
Mortgage banking derivative liabilities	120.4		117.7
Total liabilities at fair value	167.1		$ 175.2
Investments [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(1.1)	4.9
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	(0.2)	0.5
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0.5	9.1
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0.0	0.0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	3.2
Derivative [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	8.7	(5.0)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	0.0	0.0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	23.8	31.1
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(23.9)	(34.0)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0.0
Earn-out Liabilities [Member] \| Fair Value, Inputs, Level 3 [Member] \| Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(10.5)	0.0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	0.0	0.2
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0.0	0.0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(0.3)	$ (0.3)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	$ 0.0

Fair Value Measurements Fair Value Measurements (Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	$ 743.8	$ 825.5	$ 740.8	$ 794.9
Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	369.7	73.1	$ 367.3	$ 452.0
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Business Combination, Contingent Consideration, Liability, Beginning Balance	57.5	73.2
Derivative Assets (Liabilities), at Fair Value, Net, Beginning Balance	10.3	20.7
Business Combination, Contingent Consideration, Liability, Ending Balance	46.7	466.5
Derivative Assets (Liabilities), at Fair Value, Net, Ending Balance	18.9	12.8
Earn-out Liabilities [Member] \| Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(10.5)	0.0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	0.0	0.2
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0.0	0.0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(0.3)	(0.3)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0.0
Derivative [Member] \| Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	8.7	(5.0)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	0.0	0.0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	23.8	31.1
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(23.9)	(34.0)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	0.0
Investments [Member] \| Fair Value, Recurring [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(1.1)	4.9
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	(0.2)	0.5
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0.5	9.1
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	0.0	$ 0.0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	$ 3.2

Debt Short-Term Borrowings and Long-Term Debt (Details) € in Millions, $ in Millions	Mar. 31, 2024 USD ($)	Mar. 31, 2024 EUR (€)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Bank Overdrafts	$ 10.4		$ 13.4
Other Short-term Borrowings	114.2		134.5
Total Short-term Debt	124.6		147.9
Long-term debt, net of debt issuance costs	770.2		779.3
Debt, Long-term and Short-term, Combined Amount	2,276.2		1,537.8
Letters of Credit Outstanding, Amount	0.4		0.4
Line of Credit [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense	13.6		14.4
Long-term senior notes, Euro notes, 1.96%, due June 2027 [Member]
Debt Instrument [Line Items]
Long-term debt, net of debt issuance costs	$ 188.5		193.3
Debt Instrument, Face Amount \| €		€ 175.0
Debt Instrument, Interest Rate, Stated Percentage	1.96%	1.96%
Unamortized Debt Issuance Expense	$ 0.4		0.4
Long-term senior notes, Euro notes, 2.21%, due June 2029 [Member]
Debt Instrument [Line Items]
Long-term debt, net of debt issuance costs	$ 188.4		193.1
Debt Instrument, Face Amount \| €		€ 175.0
Debt Instrument, Interest Rate, Stated Percentage	2.21%	2.21%
Unamortized Debt Issuance Expense	$ 0.6		0.6
Long-term senior notes, 6.875%, due December 2028
Debt Instrument [Line Items]
Long-term debt, net of debt issuance costs	393.3		392.9
Debt Instrument, Face Amount	$ 400.0
Debt Instrument, Interest Rate, Stated Percentage	6.875%	6.875%
Unamortized Debt Issuance Expense	$ 6.7		$ 7.1

Credit Facility (Details) - USD ($) $ in Millions	3 Months Ended
Credit Facility (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Line of Credit Facility [Line Items]
Long-term Line of Credit, Noncurrent, Net of Debt Issuance Costs	$ 1,381.4		$ 610.6
Line of Credit Facility, Maximum Borrowing Capacity	54.2
Letters of Credit Outstanding, Amount	0.4		0.4
Uncommitted Facility, Maximum Borrowing Capacity	400.0
Line of Credit [Member]
Line of Credit Facility [Line Items]
Unamortized Debt Issuance Expense	13.6		14.4
Long-term Line of Credit, Noncurrent, Net of Debt Issuance Costs	1,381.4		$ 610.6
Line of Credit Facility, Maximum Borrowing Capacity	3,300.0
Line of Credit Facility, Average Outstanding Amount	$ 1,056.7	$ 1,719.9
Pricing on the Facility based on market rates	("SOFR") plus 0.875% to 1.35%
Description of Variable Rate Basis	SOFR
Basis spread on variable rate (in hundredths)	0.98%
Line of Credit Facility, Interest Rate During Period	6.10%	5.40%

Debt Warehouse Facilities (Details) - USD ($) $ in Millions	3 Months Ended
Debt Warehouse Facilities (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 54.2
Warehouse facilities	322.2	$ 662.7
Agreement expires September 16, 2024, Extension [Member]
Line of Credit Facility [Line Items]
Line of Credit, Current	86.8	159.0
Line of Credit Facility, Maximum Borrowing Capacity	$ 700.0	700.0
Pricing on the Facility based on market rates	BSBY(1) plus 1.30%
Agreement expires September 14, 2024, Extension [Member]
Line of Credit Facility [Line Items]
Line of Credit, Current	$ 232.6	405.1
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,200.0	1,200.0
Pricing on the Facility based on market rates	SOFR plus 1.30%
Agreement expires July 26, 2024, Extension
Line of Credit Facility [Line Items]
Line of Credit, Current	$ 3.4	62.3
Line of Credit Facility, Maximum Borrowing Capacity	$ 400.0	400.0
Pricing on the Facility based on market rates	SOFR plus 1.40%
Fannie Mae ASAP program [Member]
Line of Credit Facility [Line Items]
Line of Credit, Current	$ 0.0	37.3
Debt Instrument, Interest Rate Terms	SOFR plus 1.25%
Line of Credit, Gross [Member]
Line of Credit Facility [Line Items]
Line of Credit, Current	$ 322.8	663.7
Line of Credit Facility, Maximum Borrowing Capacity	2,300.0	2,300.0
Warehouse Agreement Borrowings [Member]
Line of Credit Facility [Line Items]
Unamortized Debt Issuance Expense	$ 0.6	$ 1.0

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Loss Contingency, Receivable	$ 2.5		$ 2.5
Loan subject to loss-sharing arrangements, aggregate unpaid principal amount	21,400.0		20,800.0
Loan loss accrual	31.6		30.9
Loan loss guarantee reserve	24.9		23.4
Level of risk retained (per claim)	10.0
Loss Contingency Accrual [Roll Forward]
Loss Contingency, Receivable	2.5		2.5
Loan loss guarantee reserve	24.9		$ 23.4
Insurance Claims [Member]
Loss Contingency Accrual [Roll Forward]
Loss Contingency Accrual	9.4	$ 2.2
Loss Contingency Accrual, Provision	0.2	0.1
Loss Contingency Accrual, Provision Adjustment	0.0	0.0
Loss Contingency Accrual, Payments	(2.4)	0.0
Loss Contingency Accrual	$ 7.2	$ 2.3

Restructuring and Acquisition Charges (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Restructuring reserve [Roll Forward]
Share-based Payment Arrangement, Noncash Expense	$ 0.3	$ 1.8
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	(10.5)	0.0
Restructuring and acquisition charges	1.7	35.7
Severance [Member]
Restructuring reserve [Roll Forward]
Restructuring charges	4.5	25.7
Contract Termination and Other Charges
Restructuring reserve [Roll Forward]
Restructuring charges	$ 7.4	$ 8.2

Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 6,407.6	$ 6,155.2	$ 6,409.9	$ 6,142.5
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	0.3	0.0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent	(37.7)	26.8
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(63.5)	(64.2)	(63.8)	(64.2)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0.3	0.0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0.0	0.0
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	(0.3)	0.0
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(565.4)	(557.2)	(527.7)	(584.0)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(37.7)	26.8
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0.0	0.0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent	(37.7)	26.8
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(628.9)	(621.4)	$ (591.5)	$ (648.2)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(37.4)	26.8
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0.0	0.0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	$ (37.4)	$ 26.8