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8-K
JONES LANG LASALLE INC filed this Form 8-K on 11/06/2017
Entire Document
 

JONES LANG LASALLE INCORPORATED
 Segment Operating Results
(Unaudited)
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
(in millions)
2017
 
2016
 
2017
 
2016
REAL ESTATE SERVICES
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
AMERICAS
 
 
 
 
 
 
 
Revenue
$
796.7

 
$
771.1

 
$
2,311.3

 
$
2,047.5

Gross contract costs1
(40.4
)
 
(52.6
)
 
(131.4
)
 
(144.8
)
Net non-cash MSR and mortgage banking derivative activity1
(7.1
)
 
(2.9
)
 
(11.1
)
 
(2.3
)
Total fee revenue
749.2

 
715.6

 
2,168.8

 
1,900.4

 
 
 
 
 
 
 
 
Operating expenses:
 
 
 
 
 
 
 
Compensation, operating and administrative expenses
699.1

 
686.0

 
2,054.0

 
1,842.2

Depreciation and amortization
24.2

 
21.3

 
71.4

 
58.4

Total segment operating expenses
723.3

 
707.3

 
2,125.4

 
1,900.6

Gross contract costs1
(40.4
)
 
(52.6
)
 
(131.4
)
 
(144.8
)
Total fee-based segment operating expenses
682.9

 
654.7

 
1,994.0

 
1,755.8

 
 
 
 
 
 
 
 
Segment operating income
$
73.4

 
$
63.8

 
$
185.9

 
$
146.9

Equity earnings
0.1

 
0.1

 
0.5

 
0.8

Total segment income
$
73.5

 
$
63.9

 
$
186.4

 
$
147.7

 
 
 
 
 
 
 
 
Adjusted operating income1
$
69.8

 
$
64.4

 
$
185.1

 
$
152.3

 
 
 
 
 
 
 
 
Adjusted EBITDA1
$
90.5

 
$
82.2

 
$
245.9

 
$
203.0

 
 
 
 
 
 
 
 
EMEA
 
 
 
 
 
 
 
Revenue
$
635.2

 
$
522.7

 
$
1,727.1

 
$
1,373.4

Gross contract costs1
(171.6
)
 
(146.2
)
 
(464.7
)
 
(407.3
)
Total fee revenue
463.6

 
376.5

 
1,262.4

 
966.1

 
 
 
 
 
 
 
 
Operating expenses:
 
 
 
 
 
 
 
Compensation, operating and administrative expenses
621.4

 
513.9

 
1,712.3

 
1,348.9

Depreciation and amortization
11.6

 
9.6

 
33.0

 
25.6

Total segment operating expenses
633.0

 
523.5

 
1,745.3

 
1,374.5

Gross contract costs1
(171.6
)
 
(146.2
)
 
(464.7
)
 
(407.3
)
Total fee-based segment operating expenses
461.4

 
377.3

 
1,280.6

 
967.2

 
 
 
 
 
 
 
 
Segment operating income (loss)
$
2.2

 
$
(0.8
)
 
$
(18.2
)
 
$
(1.1
)
Equity losses

 

 

 
(0.1
)
Total segment income (loss)
$
2.2

 
$
(0.8
)
 
$
(18.2
)
 
$
(1.2
)
 
 
 
 
 
 
 
 
Adjusted operating income (loss)1
$
5.8

 
$
2.2

 
$
(7.0
)
 
$
5.9

 
 
 
 
 
 
 
 
Adjusted EBITDA1
$
13.9

 
$
8.5

 
$
14.8

 
$
24.1





14


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