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SEC Filings

8-K
JONES LANG LASALLE INC filed this Form 8-K on 11/06/2017
Entire Document
 
JLL Reports Strong Third-Quarter 2017 - Page 4


Consolidated

   ($ in millions, “LC” = local currency)
Nine Months Ended September 30,
 
% Change in USD
 
% Change in LC
2017
 
2016
 
 
Leasing
$
1,319.3

 
$
1,183.9

 
11
 %
 
12
 %
Capital Markets & Hotels
702.2

 
630.6

 
11

 
13

Capital Markets & Hotels Fee Revenue1
691.1

 
628.3

 
10

 
12

Property & Facility Management
1,716.0

 
1,299.2

 
32

 
36

Property & Facility Management Fee Revenue1
1,267.1

 
964.8

 
31

 
35

Project & Development Services
935.0

 
843.4

 
11

 
12

Project & Development Services Fee Revenue1
515.3

 
442.3

 
17

 
17

Advisory, Consulting and Other
461.3

 
380.7

 
21

 
23

RES revenue
$
5,133.8

 
$
4,337.8

 
18
 %
 
20
 %
LaSalle
263.1

 
307.8

 
(15
)
 
(13
)
Total revenue
$
5,396.9

 
$
4,645.6

 
16
 %
 
18
 %
Gross contract costs
(868.6
)
 
(735.5
)
 
18

 
21

Net non-cash MSR and mortgage banking derivative activity
(11.1
)
 
(2.3
)
 
n.m.

 
n.m.

Total fee revenue1
$
4,517.2

 
$
3,907.8

 
16
 %
 
17
 %
RES fee revenue
$
4,254.1

 
$
3,600.0

 
18
 %
 
20
 %
Operating income
$
244.7

 
$
214.3

 
14
 %
 
11
 %
Equity earnings
$
32.7

 
$
27.7

 
18
 %
 
18
 %
Adjusted EBITDA1
$
400.0

 
$
372.1

 
7
 %
 
6
 %
n.m. - not meaningful as represented by a percentage change of greater than 100%, favorably or unfavorably.
Capital Markets & Hotels revenue includes both “gross” and “fee” presentation, effective in the fourth quarter of 2016, with the difference between the two amounts representing net non-cash activity associated with mortgage servicing rights and mortgage banking derivatives, which is also excluded from the company's non-GAAP performance measures.
Percentage variances in the Consolidated Performance Highlights below are calculated and presented on a local currency basis, unless otherwise noted. See Financial Statement Note (1) following the Financial Statements in this news release.

-continued-


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