$JLL
Jones Lang LaSalle Inc

2014 Q1 Form 10-Q Financial Statement

#000103797614000028 Filed on May 08, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q1
Revenue $1.037B $856.0M
YoY Change 21.2% 5.25%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $994.3M $813.6M
YoY Change 22.21% 5.65%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $22.40M $19.10M
YoY Change 17.28% -3.05%
% of Gross Profit
Operating Expenses $1.053B $835.9M
YoY Change 25.94% 4.65%
Operating Profit -$15.30M $20.10M
YoY Change -176.12% 37.95%
Interest Expense $6.637M $7.923M
YoY Change -16.23% 6.69%
% of Operating Profit 39.42%
Other Income/Expense, Net
YoY Change
Pretax Income -$13.00M $17.66M
YoY Change -173.62% -7.02%
Income Tax -$29.15M $4.397M
% Of Pretax Income 24.9%
Net Earnings $15.90M $13.16M
YoY Change 20.87% -6.19%
Net Earnings / Revenue 1.53% 1.54%
Basic Earnings Per Share $0.36 $0.30
Diluted Earnings Per Share $0.35 $0.29
COMMON SHARES
Basic Shares Outstanding 44.51M shares 44.08M shares
Diluted Shares Outstanding 45.20M shares 45.06M shares

Balance Sheet

Concept 2014 Q1 2013 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $140.0M $133.0M
YoY Change 5.26% 30.39%
Cash & Equivalents $140.1M $133.5M
Short-Term Investments
Other Short-Term Assets $14.21M $21.57M
YoY Change -34.11% -82.47%
Inventory
Prepaid Expenses $73.08M $56.65M
Receivables $1.129B $913.6M
Other Receivables $184.0M $242.0M
Total Short-Term Assets $1.665B $1.420B
YoY Change 17.3% 25.4%
LONG-TERM ASSETS
Property, Plant & Equipment $316.8M $261.0M
YoY Change 21.38% 6.51%
Goodwill $1.903B $1.837B
YoY Change 3.62%
Intangibles $43.61M $43.56M
YoY Change 0.13%
Long-Term Investments $292.0M $272.0M
YoY Change 7.35% 15.25%
Other Assets $185.3M $148.2M
YoY Change 25.03% -54.95%
Total Long-Term Assets $2.891B $2.816B
YoY Change 2.66% 4.4%
TOTAL ASSETS
Total Short-Term Assets $1.665B $1.420B
Total Long-Term Assets $2.891B $2.816B
Total Assets $4.556B $4.235B
YoY Change 7.56% 10.61%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $491.0M $400.0M
YoY Change 22.75% -0.99%
Accrued Expenses $504.0M $414.0M
YoY Change 21.74% 8.38%
Deferred Revenue
YoY Change
Short-Term Debt $16.82M $37.80M
YoY Change -55.5%
Long-Term Debt Due $17.00M $38.00M
YoY Change -55.26% 31.03%
Total Short-Term Liabilities $1.281B $1.279B
YoY Change 0.14% 28.69%
LONG-TERM LIABILITIES
Long-Term Debt $718.0M $745.0M
YoY Change -3.62% 17.88%
Other Long-Term Liabilities $95.90M $71.20M
YoY Change 34.69% -83.85%
Total Long-Term Liabilities $95.90M $71.20M
YoY Change 34.69% -93.36%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.281B $1.279B
Total Long-Term Liabilities $95.90M $71.20M
Total Liabilities $2.331B $2.305B
YoY Change 1.15% 10.96%
SHAREHOLDERS EQUITY
Retained Earnings $1.283B $1.030B
YoY Change 24.52%
Common Stock $950.2M $939.5M
YoY Change 1.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.214B $1.923B
YoY Change
Total Liabilities & Shareholders Equity $4.556B $4.235B
YoY Change 7.56% 10.61%

Cashflow Statement

Concept 2014 Q1 2013 Q1
OPERATING ACTIVITIES
Net Income $15.90M $13.16M
YoY Change 20.87% -6.19%
Depreciation, Depletion And Amortization $22.40M $19.10M
YoY Change 17.28% -3.05%
Cash From Operating Activities -$263.2M -$301.5M
YoY Change -12.68% 53.71%
INVESTING ACTIVITIES
Capital Expenditures -$33.30M -$12.70M
YoY Change 162.2% 7.63%
Acquisitions $1.316M
YoY Change -73.4%
Other Investing Activities -$6.000M -$8.100M
YoY Change -25.93% 88.37%
Cash From Investing Activities -$39.30M -$20.78M
YoY Change 89.14% 28.66%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $290.1M $303.5M
YoY Change -4.41% 134.1%
NET CHANGE
Cash From Operating Activities -$263.2M -$301.5M
Cash From Investing Activities -$39.30M -$20.78M
Cash From Financing Activities $290.1M $303.5M
Net Change In Cash -$12.37M -$18.69M
YoY Change -33.82% -77.38%
FREE CASH FLOW
Cash From Operating Activities -$263.2M -$301.5M
Capital Expenditures -$33.30M -$12.70M
Free Cash Flow -$229.9M -$288.8M
YoY Change -20.38% 56.66%

Facts In Submission

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CY2014Q1 us-gaap Loss Contingency Accrual Carrying Value Noncurrent
LossContingencyAccrualCarryingValueNoncurrent
5700000 USD
CY2013Q4 us-gaap Loss Contingency Accrual Carrying Value Noncurrent
LossContingencyAccrualCarryingValueNoncurrent
6200000 USD
CY2013Q4 us-gaap Minority Interest
MinorityInterest
11140000 USD
CY2014Q1 us-gaap Minority Interest
MinorityInterest
10725000 USD
CY2014Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
658000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
303544000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
290147000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-20777000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-39297000 USD
CY2014Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-263428000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-301456000 USD
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
15902000 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
13156000 USD
CY2013Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
106000 USD
CY2014Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
243000 USD
CY2013Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13156000 USD
CY2014Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
15902000 USD
CY2013Q4 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
94519000 USD
CY2014Q1 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
175869000 USD
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
1052708000 USD
CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
835888000 USD
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
20100000 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-15266000 USD
CY2014Q1 us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
6233000 USD
CY2013Q1 us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
7533000 USD
CY2013Q4 us-gaap Other Assets Current
OtherAssetsCurrent
52156000 USD
CY2014Q1 us-gaap Other Assets Current
OtherAssetsCurrent
14211000 USD
CY2014Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
185292000 USD
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
174712000 USD
CY2014Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
13818000 USD
CY2013Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-48625000 USD
CY2013Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
249921000 USD
CY2014Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
356999000 USD
CY2013Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
143248000 USD
CY2014Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
116011000 USD
CY2014Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
95904000 USD
CY2013Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
77029000 USD
CY2013Q1 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
1796000 USD
CY2014Q1 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
1352000 USD
CY2013Q1 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
12688000 USD
CY2014Q1 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
33264000 USD
CY2013Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
9776000 USD
CY2014Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
3745000 USD
CY2014Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2013Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
495000 USD
CY2014Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4101000 USD
CY2013Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1093000 USD
CY2014Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
4145000 USD
CY2013Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
12122000 USD
CY2013Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
56491000 USD
CY2014Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
73082000 USD
CY2013Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
89000 USD
CY2014Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
133000 USD
CY2014Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
610000000 USD
CY2013Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
639065000 USD
CY2013Q1 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
0 USD
CY2014Q1 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
14297000 USD
CY2014Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
7285000 USD
CY2013Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
5349000 USD
CY2014Q1 us-gaap Profit Loss
ProfitLoss
16145000 USD
CY2013Q1 us-gaap Profit Loss
ProfitLoss
13262000 USD
CY2014Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
316765000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
295547000 USD
CY2014Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5303000 USD
CY2013Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5074000 USD
CY2013Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
332500000 USD
CY2014Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
329703000 USD
CY2013Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
0 USD
CY2014Q1 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
1069000 USD
CY2013Q1 us-gaap Restructuring Charges
RestructuringCharges
3168000 USD
CY2014Q1 us-gaap Restructuring Charges
RestructuringCharges
1432000 USD
CY2013Q1 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
3168000 USD
CY2014Q1 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
35958000 USD
CY2013Q1 us-gaap Restructuring Reserve
RestructuringReserve
24769000 USD
CY2012Q4 us-gaap Restructuring Reserve
RestructuringReserve
31377000 USD
CY2014Q1 us-gaap Restructuring Reserve
RestructuringReserve
8146000 USD
CY2013Q4 us-gaap Restructuring Reserve
RestructuringReserve
10459000 USD
CY2013Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1266967000 USD
CY2014Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1282869000 USD
CY2014Q1 us-gaap Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure
RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Gross and Net Accounting:</font><font style="font-family:inherit;font-size:10pt;"> We follow the guidance of FASB Accounting Standards Codification ("ASC") 605-45, "Principal and Agent Considerations," when accounting for reimbursements received from clients. In certain of our businesses, primarily those involving management services, our clients reimburse us for expenses incurred on their behalf. We base the treatment of reimbursable expenses for financial reporting purposes upon the fee structure of the underlying contract. Accordingly, we report a contract that provides for fixed fees, fully inclusive of all personnel and other recoverable expenses on a gross basis. When accounting on a gross basis, our reported revenue includes the full billing to our client and our reported expenses include all costs associated with the client. Certain contractual arrangements in our project and development services, including fit-out business activities and our facility management services, tend to have characteristics that result in accounting on a gross basis. In Note 4, Business Segments, for client assignments in property and facility management and in project and development services that are accounted for on a gross basis, we identify the gross contract costs, including vendor and subcontract costs ("gross contract costs"), and present separately their impact on both revenue and operating expense in our Real Estate Services ("RES") segments. We exclude these gross contract costs from revenue and operating expenses in determining "fee revenue" and "fee based operating expenses" in our segment presentation.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We account for a contract on a net basis when the fee structure is comprised of at least two distinct elements, namely (1) a fixed management fee and (2) a separate component that allows for scheduled reimbursable personnel costs or other expenses to be billed directly to the client. When accounting on a net basis, we include the fixed management fee in reported revenue and net the reimbursement against expenses. We base this accounting on the following factors, which define us as an agent rather than a principal:</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:29px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:5px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The property owner or client, with ultimate approval rights relating to the employment and compensation of on-site personnel, and bearing all of the economic costs of such personnel, is determined to be the primary obligor in the arrangement;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:29px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:5px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Reimbursement to JLL is generally completed simultaneously with payment of payroll or soon thereafter;</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:29px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:5px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The property owner is contractually obligated to fund all operating costs of the property from existing cash flow or direct funding from its building operating account, JLL bears little or no credit risk; and</font></div></td></tr></table><table cellpadding="0" cellspacing="0" style="padding-top:12px;font-family:Times New Roman; font-size:10pt;"><tr><td style="width:29px;" rowspan="1" colspan="1"></td><td rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:top" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;padding-left:5px;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">&#8226;</font></div></td><td style="vertical-align:top;" rowspan="1" colspan="1"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">JLL generally earns no margin in the reimbursement aspect of the arrangement, obtaining reimbursement only for actual costs incurred.</font></div></td></tr></table><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We account for the majority of our service contracts on a net basis. These net costs aggregated approximately </font><font style="font-family:inherit;font-size:10pt;">$478.9 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$423.7 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2014</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2013</font><font style="font-family:inherit;font-size:10pt;">, respectively. The presentation of expenses pursuant to these arrangements under either a gross or net basis has no impact on operating income, net income or cash flows. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Contracts accounted for on a gross basis resulted in certain costs reflected in revenue and operating expenses (gross contract costs) of </font><font style="font-family:inherit;font-size:10pt;">$159.6 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$75.5 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2014</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:Times New Roman;font-size:10pt;color:#000000;font-style:normal;font-weight:normal;text-decoration:none;">2013</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
CY2014Q1 us-gaap Revenue Recognition Percentage Of Completion Method
RevenueRecognitionPercentageOfCompletionMethod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We recognize project and development management and construction management fees by applying the percentage of completion method of accounting. The efforts expended method is used to determine the extent of progress towards completion for project and development management fees, and the costs incurred to total estimated costs method is used for construction management fees.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain construction management fees, which are gross construction services revenue reported net of subcontract costs, were </font><font style="font-family:inherit;font-size:10pt;">$1.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1.7 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2014</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2013</font><font style="font-family:inherit;font-size:10pt;">, respectively. Gross construction services revenue totaled </font><font style="font-family:inherit;font-size:10pt;">$27.5 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$41.2 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2014</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2013</font><font style="font-family:inherit;font-size:10pt;">, respectively, and subcontract costs totaled </font><font style="font-family:inherit;font-size:10pt;">$26.3 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$39.5 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three months ended March 31, 2014</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2013</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We include costs in excess of billings on uncompleted construction contracts of </font><font style="font-family:inherit;font-size:10pt;">$3.3 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$4.4 million</font><font style="font-family:inherit;font-size:10pt;"> in Trade receivables, and billings in excess of costs on uncompleted construction contracts of </font><font style="font-family:inherit;font-size:10pt;">$5.8 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$7.4 million</font><font style="font-family:inherit;font-size:10pt;">, in Deferred income, as of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2014</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">December&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;">, respectively.</font></div></div>
CY2014Q1 us-gaap Revenue Recognition Services Commissions
RevenueRecognitionServicesCommissions
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We recognize transaction commissions related to leasing services and capital markets services as revenue when we provide the related service unless future contingencies exist.</font></div></div>
CY2014Q1 us-gaap Revenue Recognition Services Management Fees
RevenueRecognitionServicesManagementFees
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Advisory and management fees related to property and facility management services, valuation services, corporate property services, consulting services and investment management are recognized in the period in which we perform the related services.</font></div></div>
CY2013Q1 us-gaap Revenues
Revenues
855988000 USD
CY2014Q1 us-gaap Revenues
Revenues
1037442000 USD
CY2014Q1 us-gaap Senior Long Term Notes
SeniorLongTermNotes
275000000 USD
CY2013Q4 us-gaap Senior Long Term Notes
SeniorLongTermNotes
275000000 USD
CY2013Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
24522000 USD
CY2014Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
16819000 USD
CY2014Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
133000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
2179669000 USD
CY2014Q1 us-gaap Stockholders Equity
StockholdersEquity
2213588000 USD
CY2014Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2224313000 USD
CY2013Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2190809000 USD
CY2013Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
425000 USD
CY2014Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
1153000 USD
CY2014Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
11100000 USD
CY2014Q1 us-gaap Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
7702000 USD
CY2013Q4 us-gaap Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
0 USD
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45201708 shares
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45055399 shares
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44513813 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44080767 shares
CY2014Q1 jll Accumulated Amortization Finite Lived Intangible Assets Translation Adjustments
AccumulatedAmortizationFiniteLivedIntangibleAssetsTranslationAdjustments
260000 USD
CY2014Q1 jll Business Combination Indemnification Assets
BusinessCombinationIndemnificationAssets
34500000 USD
CY2014Q1 jll Cash Paid For New Acquisitions And Contingent Earn Out Consideration
CashPaidForNewAcquisitionsAndContingentEarnOutConsideration
9173000 USD
CY2013Q1 jll Cash Paid For New Acquisitions And Contingent Earn Out Consideration
CashPaidForNewAcquisitionsAndContingentEarnOutConsideration
1316000 USD
CY2013Q1 jll Construction Management Revenue Net Of Costs
ConstructionManagementRevenueNetOfCosts
1700000 USD
CY2014Q1 jll Construction Management Revenue Net Of Costs
ConstructionManagementRevenueNetOfCosts
1200000 USD
CY2014Q1 jll Deferred Acquisition Obligations Paid
DeferredAcquisitionObligationsPaid
-1400000 USD
CY2014Q1 jll Distributions To Real Estate Ventures
DistributionsToRealEstateVentures
2000 USD
CY2013Q1 jll Distributions To Real Estate Ventures
DistributionsToRealEstateVentures
1458000 USD
CY2014Q1 jll Equity Method Investment Ownership Percentage Maximum
EquityMethodInvestmentOwnershipPercentageMaximum
0.15
CY2014Q1 jll Equity Method Investment Ownership Percentage Minimum
EquityMethodInvestmentOwnershipPercentageMinimum
0.01
CY2014Q1 jll Finite And Indefinite Lived Intangible Assets Additions
FiniteAndIndefiniteLivedIntangibleAssetsAdditions
13000 USD
CY2014Q1 jll Finite And Indefinite Lived Intangible Assets Gross
FiniteAndIndefiniteLivedIntangibleAssetsGross
162652000 USD
CY2013Q4 jll Finite And Indefinite Lived Intangible Assets Gross
FiniteAndIndefiniteLivedIntangibleAssetsGross
161972000 USD
CY2014Q1 jll Finite And Indefinite Lived Intangible Assets Translation Adjustments
FiniteAndIndefiniteLivedIntangibleAssetsTranslationAdjustments
667000 USD
CY2014Q1 jll Foreign Currency Forward Contract Net Notional Value
ForeignCurrencyForwardContractNetNotionalValue
959600000 USD
CY2013Q4 jll Foreign Currency Forward Contract Net Notional Value
ForeignCurrencyForwardContractNetNotionalValue
1010000000 USD
CY2014Q1 jll Foreign Currency Translation Adjustments Net
ForeignCurrencyTranslationAdjustmentsNet
-154000 USD
CY2013Q1 jll Foreign Currency Translation Adjustments Net
ForeignCurrencyTranslationAdjustmentsNet
207000 USD
CY2014Q1 jll Goodwill Additions Net Of Adjustments
GoodwillAdditionsNetOfAdjustments
-1285000 USD
CY2013Q1 jll Gross Revenue And Expenses For Management Services
GrossRevenueAndExpensesForManagementServices
75500000 USD
CY2014Q1 jll Gross Revenue And Expenses For Management Services
GrossRevenueAndExpensesForManagementServices
159600000 USD
CY2014Q1 jll Increase Decrease In Common Stock Held In Trust
IncreaseDecreaseInCommonStockHeldInTrust
-8000 USD
CY2013Q1 jll Investments In Real Estate Ventures
InvestmentsInRealEstateVentures
71000 USD
CY2014Q1 jll Investments In Real Estate Ventures
InvestmentsInRealEstateVentures
757000 USD
CY2014Q1 jll Level Of Risk Retained Per Claim
LevelOfRiskRetainedPerClaim
2500000 USD
CY2014Q1 jll Maximum Expected Period For Vehicle To Draw Down On Commitment
MaximumExpectedPeriodForVehicleToDrawDownOnCommitment
P5Y
CY2014Q1 jll Minimum Expected Period For Vehicle To Draw Down On Commitment
MinimumExpectedPeriodForVehicleToDrawDownOnCommitment
P3Y
CY2014Q1 jll Minority Shareholder Redemption Liability Noncurrent
MinorityShareholderRedemptionLiabilityNoncurrent
10456000 USD
CY2013Q4 jll Minority Shareholder Redemption Liability Noncurrent
MinorityShareholderRedemptionLiabilityNoncurrent
20667000 USD
CY2014Q1 jll Number Of Acquisitions Subject To Potential Earn Out Payments Provisions
NumberOfAcquisitionsSubjectToPotentialEarnOutPaymentsProvisions
13 acquisition
CY2014Q1 jll Number Of Contributory Defined Benefit Pension Plans
NumberOfContributoryDefinedBenefitPensionPlans
5 plan
CY2014Q1 jll Number Of Investment Vehicles Utilized To Facilitate Majority Of Co Investment Activity
NumberOfInvestmentVehiclesUtilizedToFacilitateMajorityOfCoInvestmentActivity
2 investment
CY2014Q1 jll Number Of Separate Property Or Fund Co Investments
NumberOfSeparatePropertyOrFundCoInvestments
50 investment
CY2013Q1 jll Provision Recorded For Potential Earn Out Obligations
ProvisionRecordedForPotentialEarnOutObligations
13059000 USD
CY2014Q1 jll Provision Recorded For Potential Earn Out Obligations
ProvisionRecordedForPotentialEarnOutObligations
0 USD
CY2013Q1 jll Segment Reporting Information Operating Expenses
SegmentReportingInformationOperatingExpenses
832720000 USD
CY2014Q1 jll Segment Reporting Information Operating Expenses
SegmentReportingInformationOperatingExpenses
1016750000 USD
CY2013Q1 jll Segment Reporting Information Operating Income Before Restructuring Charges
SegmentReportingInformationOperatingIncomeBeforeRestructuringCharges
23268000 USD
CY2014Q1 jll Segment Reporting Information Operating Income Before Restructuring Charges
SegmentReportingInformationOperatingIncomeBeforeRestructuringCharges
20692000 USD
CY2014Q1 jll Segment Reporting Information Revenuefor Reportable Segment
SegmentReportingInformationRevenueforReportableSegment
1046345000 USD
CY2013Q1 jll Segment Reporting Information Revenuefor Reportable Segment
SegmentReportingInformationRevenueforReportableSegment
861470000 USD
CY2014Q1 jll Subcontract Costs
SubcontractCosts
26300000 USD
CY2013Q1 jll Subcontract Costs
SubcontractCosts
39500000 USD
CY2014Q1 jll Unamortized Intangibles And Goodwill
UnamortizedIntangiblesAndGoodwill
1900000000 USD
CY2014Q1 dei Amendment Flag
AmendmentFlag
false
CY2014Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2014Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014Q1 dei Document Period End Date
DocumentPeriodEndDate
2014-03-31
CY2014Q1 dei Document Type
DocumentType
10-Q
CY2014Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001037976
CY2014Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
44564689 shares
CY2014Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2014Q1 dei Entity Registrant Name
EntityRegistrantName
JONES LANG LASALLE INC
CY2014Q1 invest Derivative Notional Amount
DerivativeNotionalAmount
2000000000 USD
CY2013Q4 invest Derivative Notional Amount
DerivativeNotionalAmount
1960000000 USD

Files In Submission

Name View Source Status
0001037976-14-000028-index-headers.html Edgar Link pending
0001037976-14-000028-index.html Edgar Link pending
0001037976-14-000028.txt Edgar Link pending
0001037976-14-000028-xbrl.zip Edgar Link pending
exhibit311-jllq12014.htm Edgar Link pending
exhibit312-jllq12014.htm Edgar Link pending
exhibit321-jllq12014.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
Financial_Report.xlsx Edgar Link pending
jll-20140331.xml Edgar Link completed
jll-20140331.xsd Edgar Link pending
jll-20140331_cal.xml Edgar Link unprocessable
jll-20140331_def.xml Edgar Link unprocessable
jll-20140331_lab.xml Edgar Link unprocessable
jll-20140331_pre.xml Edgar Link unprocessable
jll-2014331x10qq1.htm Edgar Link pending
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