Print Page     Close Window     

SEC Filings

10-Q
JONES LANG LASALLE INC filed this Form 10-Q on 11/06/2017
Entire Document
 

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)
Balance as of June 30, 2017
Net change in fair value
Foreign currency translation adjustments
Purchases / Additions
Settlements
Balance as of September 30, 2017
Mortgage banking derivative assets and liabilities, net
$
14.1

3.4


25.5

(31.5
)
$
11.5

Earn-out liabilities
$
225.6

(0.6
)
2.9

0.7

(5.1
)
$
223.5

(in millions)
Balance as of June 30, 2016
Net change in fair value
Foreign currency translation adjustments
Purchases / Additions
Settlements
Balance as of September 30, 2016
Earn-out liabilities
$
169.6

(0.6
)
0.2

43.3

(2.4
)
$
210.1


(in millions)
Balance as of December 31, 2016
Net change in fair value
Foreign currency translation adjustments
Purchases / Additions
Settlements
Balance as of September 30, 2017
Mortgage banking derivative assets and liabilities, net
$
15.5

11.8


56.6

(72.4
)
$
11.5

Earn-out liabilities
229.6

(2.7
)
7.4

11.4

(22.2
)
223.5

(in millions)
Balance as of December 31, 2015
Net change in fair value
Foreign currency translation adjustments
Purchases / Additions
Settlements
Balance as of September 30, 2016
Earn-out liabilities
$
127.3

(1.5
)
(1.0
)
90.5

(5.2
)
$
210.1

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
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 in real estate ventures, 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 or nine months ended September 30, 2017 or 2016. See Note 5, Investments in Real Estate Ventures, for additional information, including information related to impairment charges recorded at the investee level.

21


© Copyright Jones Lang LaSalle, IP, Inc.