2015 Q4 Form 10-Q Financial Statement

#000103797615000074 Filed on November 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $1.887B $1.501B $1.366B
YoY Change 7.91% 9.91% 23.42%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.589B $1.336B $1.217B
YoY Change 8.92% 9.84% 22.26%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $31.00M $26.70M $22.00M
YoY Change 14.39% 21.36% 11.68%
% of Gross Profit
Operating Expenses $1.634B $1.381B $1.239B
YoY Change 9.84% 11.51% 21.46%
Operating Profit $253.8M $120.3M $127.5M
YoY Change -3.06% -5.65% 46.39%
Interest Expense $5.800M $6.774M $7.361M
YoY Change 728.57% -7.97% -23.57%
% of Operating Profit 2.29% 5.63% 5.77%
Other Income/Expense, Net
YoY Change
Pretax Income $259.7M $138.9M $139.6M
YoY Change -1.07% -0.54% 66.17%
Income Tax $61.20M $25.70M $34.91M
% Of Pretax Income 23.57% 18.5% 25.0%
Net Earnings $196.1M $110.5M $104.3M
YoY Change 1.13% 5.96% 65.91%
Net Earnings / Revenue 10.39% 7.36% 7.63%
Basic Earnings Per Share $4.35 $2.45 $2.33
Diluted Earnings Per Share $4.31 $2.43 $2.30
COMMON SHARES
Basic Shares Outstanding 45.04M shares 45.00M shares 44.81M shares
Diluted Shares Outstanding 45.45M shares 45.29M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $217.0M $193.0M $163.0M
YoY Change -13.2% 18.4% 35.83%
Cash & Equivalents $216.6M $193.5M $162.6M
Short-Term Investments
Other Short-Term Assets $99.30M $9.980M $29.40M
YoY Change 256.87% -66.05% 42.53%
Inventory
Prepaid Expenses $77.80M $90.07M $84.48M
Receivables $1.592B $1.407B $1.216B
Other Receivables $532.0M $264.0M $379.0M
Total Short-Term Assets $2.651B $2.094B $1.994B
YoY Change 25.15% 5.02% 40.34%
LONG-TERM ASSETS
Property, Plant & Equipment $423.3M $377.8M $344.8M
YoY Change 14.91% 9.59% 33.02%
Goodwill $2.142B $2.000B $1.911B
YoY Change 12.24% 4.64% 1.12%
Intangibles $227.2M $43.40M $40.44M
YoY Change 484.95% 7.31% -0.51%
Long-Term Investments $312.0M $312.0M $291.0M
YoY Change 5.05% 7.22% 1.04%
Other Assets $76.10M $64.35M $194.7M
YoY Change 33.48% -66.94% 14.45%
Total Long-Term Assets $3.536B $3.141B $2.941B
YoY Change 19.59% 6.8% 1.22%
TOTAL ASSETS
Total Short-Term Assets $2.651B $2.094B $1.994B
Total Long-Term Assets $3.536B $3.141B $2.941B
Total Assets $6.187B $5.235B $4.935B
YoY Change 21.91% 6.08% 14.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $713.0M $637.0M $519.0M
YoY Change 13.17% 22.74% 22.41%
Accrued Expenses $1.089B $791.0M $666.0M
YoY Change 9.89% 18.77% 30.84%
Deferred Revenue
YoY Change
Short-Term Debt $49.20M $30.50M $43.29M
YoY Change 150.73% -29.54% 22.02%
Long-Term Debt Due $49.00M $31.00M $43.00M
YoY Change 145.0% -27.91% 22.86%
Total Short-Term Liabilities $2.505B $1.862B $1.760B
YoY Change 22.38% 5.77% 36.74%
LONG-TERM LIABILITIES
Long-Term Debt $512.0M $510.0M $525.0M
YoY Change 86.18% -2.86% -27.08%
Other Long-Term Liabilities $208.5M $130.3M $94.11M
YoY Change 75.26% 38.45% 29.29%
Total Long-Term Liabilities $208.5M $130.3M $94.11M
YoY Change 75.26% 38.45% 29.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.505B $1.862B $1.760B
Total Long-Term Liabilities $208.5M $130.3M $94.11M
Total Liabilities $3.458B $2.700B $2.578B
YoY Change 30.34% 4.75% 12.45%
SHAREHOLDERS EQUITY
Retained Earnings $2.044B $1.861B $1.449B
YoY Change 25.32% 28.5% 28.23%
Common Stock $987.1M $981.1M $957.8M
YoY Change 2.58% 2.44% 1.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.689B $2.507B $2.323B
YoY Change
Total Liabilities & Shareholders Equity $6.187B $5.235B $4.935B
YoY Change 21.91% 6.08% 14.07%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $196.1M $110.5M $104.3M
YoY Change 1.13% 5.96% 65.91%
Depreciation, Depletion And Amortization $31.00M $26.70M $22.00M
YoY Change 14.39% 21.36% 11.68%
Cash From Operating Activities $394.0M $196.7M $189.4M
YoY Change -13.69% 3.85% 30.89%
INVESTING ACTIVITIES
Capital Expenditures -$60.60M -$43.10M -$36.10M
YoY Change 13.91% 19.39% 44.4%
Acquisitions
YoY Change
Other Investing Activities -$339.5M -$49.00M $8.400M
YoY Change 1363.36% -683.33% -134.29%
Cash From Investing Activities -$400.1M -$92.20M -$27.60M
YoY Change 423.69% 234.06% -44.13%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 31.40M -95.40M -145.5M
YoY Change -110.99% -34.43% 49.38%
NET CHANGE
Cash From Operating Activities 394.0M 196.7M 189.4M
Cash From Investing Activities -400.1M -92.20M -27.60M
Cash From Financing Activities 31.40M -95.40M -145.5M
Net Change In Cash 25.30M 9.100M 16.30M
YoY Change -73.17% -44.17% -876.19%
FREE CASH FLOW
Cash From Operating Activities $394.0M $196.7M $189.4M
Capital Expenditures -$60.60M -$43.10M -$36.10M
Free Cash Flow $454.6M $239.8M $225.5M
YoY Change -10.81% 6.34% 32.88%

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3700000 USD
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
11000000 USD
CY2014Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-800000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-2500000 USD
CY2015Q3 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
900000 USD
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
2700000 USD
CY2014Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1000000 USD
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
2900000 USD
CY2015Q3 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1300000 USD
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
3900000 USD
CY2014Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
22023000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
67214000 USD
CY2015Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
26643000 USD
us-gaap Depreciation And Amortization
DepreciationAndAmortization
77060000 USD
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
12332000 USD
CY2014Q3 us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
0 USD
us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
176000 USD
CY2015Q3 us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
0 USD
us-gaap Dividends Share Based Compensation
DividendsShareBasedCompensation
163000 USD
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.33
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.30
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.45
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.40
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.30
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.24
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.43
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.34
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-3780000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-14448000 USD
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
990678000 USD
CY2015Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
790977000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
15783000 USD
us-gaap Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
41228000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
9361000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
6457000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
9361000 USD
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
6457000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
124920000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
132827000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
800000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
9600000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
4900000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
3100000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3400000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
6500000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
9100000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
37400000 USD
CY2014Q3 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-17200000 USD
CY2015Q3 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-12500000 USD
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
61000 USD
CY2014Q4 us-gaap Goodwill
Goodwill
1907924000 USD
CY2015Q3 us-gaap Goodwill
Goodwill
1999623000 USD
us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-43600000 USD
CY2015Q3 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
78500000 USD
CY2014Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
1100000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
2000000 USD
CY2015Q3 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
100000 USD
us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
4200000 USD
CY2014Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
139649000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
223133000 USD
CY2015Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
138905000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
319442000 USD
CY2014Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
19552000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
40945000 USD
CY2015Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
25362000 USD
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
63873000 USD
CY2014Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
34912000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
29889000 USD
CY2015Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25720000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
71576000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
65165000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
97555000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-113969000 USD
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-157666000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-48623000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
8000000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
62400000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
38211000 USD
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
88870000 USD
us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
147494000 USD
CY2015Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
6000000 USD
CY2014Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
38841000 USD
CY2015Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
43384000 USD
CY2014Q3 us-gaap Interest Expense
InterestExpense
7361000 USD
us-gaap Interest Expense
InterestExpense
21661000 USD
CY2015Q3 us-gaap Interest Expense
InterestExpense
6774000 USD
us-gaap Interest Expense
InterestExpense
20369000 USD
us-gaap Interest Paid
InterestPaid
12310000 USD
us-gaap Interest Paid
InterestPaid
12310000 USD
CY2013Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
78900000 USD
CY2014Q3 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
101000000 USD
CY2014Q4 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
113600000 USD
CY2015Q3 us-gaap Investments Fair Value Disclosure
InvestmentsFairValueDisclosure
150300000 USD
CY2014Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
297142000 USD
CY2015Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
311814000 USD
CY2014Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures Fair Value Disclosure
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesFairValueDisclosure
113602000 USD
CY2015Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures Fair Value Disclosure
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesFairValueDisclosure
150274000 USD
CY2014Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
828241000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
2226804000 USD
CY2015Q3 us-gaap Labor And Related Expense
LaborAndRelatedExpense
896080000 USD
us-gaap Labor And Related Expense
LaborAndRelatedExpense
2459056000 USD
CY2014Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
22000000 USD
CY2015Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
19100000 USD
CY2014Q4 us-gaap Liabilities
Liabilities
2652767000 USD
CY2015Q3 us-gaap Liabilities
Liabilities
2700326000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
5075336000 USD
CY2015Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
5235026000 USD
CY2014Q4 us-gaap Liabilities Current
LiabilitiesCurrent
2047011000 USD
CY2015Q3 us-gaap Liabilities Current
LiabilitiesCurrent
1861771000 USD
CY2014Q4 us-gaap Loans Receivable Mortgage Warehouse Lending
LoansReceivableMortgageWarehouseLending
83312000 USD
CY2015Q3 us-gaap Loans Receivable Mortgage Warehouse Lending
LoansReceivableMortgageWarehouseLending
41274000 USD
CY2014Q4 us-gaap Long Term Accounts Notes And Loans Receivable Net Noncurrent
LongTermAccountsNotesAndLoansReceivableNetNoncurrent
85749000 USD
CY2015Q3 us-gaap Long Term Accounts Notes And Loans Receivable Net Noncurrent
LongTermAccountsNotesAndLoansReceivableNetNoncurrent
110044000 USD
CY2015Q3 us-gaap Long Term Debt
LongTermDebt
275000000 USD
CY2014Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
285300000 USD
CY2015Q3 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
284300000 USD
CY2014Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
0 USD
CY2015Q3 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
235005000 USD
CY2013Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
6200000 USD
CY2014Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
10500000 USD
CY2014Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
9200000 USD
CY2015Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
11500000 USD
us-gaap Loss Contingency Accrual Carrying Value Payments
LossContingencyAccrualCarryingValuePayments
2000000 USD
us-gaap Loss Contingency Accrual Carrying Value Payments
LossContingencyAccrualCarryingValuePayments
300000 USD
us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
6800000 USD
us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
2400000 USD
CY2014Q4 us-gaap Minority Interest
MinorityInterest
22323000 USD
CY2015Q3 us-gaap Minority Interest
MinorityInterest
19283000 USD
us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-2800000 USD
us-gaap Minority Interest Period Increase Decrease
MinorityInterestPeriodIncreaseDecrease
-8865000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
82769000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
160243000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-111503000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-184464000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
42356000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-18245000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
104284000 USD
us-gaap Net Income Loss
NetIncomeLoss
192128000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
110409000 USD
us-gaap Net Income Loss
NetIncomeLoss
242614000 USD
CY2014Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
453000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
1116000 USD
CY2015Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2776000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
5252000 USD
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
-573000 USD
CY2014Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
104284000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
191952000 USD
CY2015Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
110409000 USD
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
242451000 USD
us-gaap Net Income Loss Including Portion Attributable To Nonredeemable Noncontrolling Interest
NetIncomeLossIncludingPortionAttributableToNonredeemableNoncontrollingInterest
248439000 USD
CY2014Q4 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
181377000 USD
CY2015Q3 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
222270000 USD
us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
12 acquisition
CY2014Q3 us-gaap Operating Expenses
OperatingExpenses
1238517000 USD
us-gaap Operating Expenses
OperatingExpenses
3476773000 USD
CY2015Q3 us-gaap Operating Expenses
OperatingExpenses
1380950000 USD
us-gaap Operating Expenses
OperatingExpenses
3802316000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
127458000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
203849000 USD
CY2015Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
120317000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
275938000 USD
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
15920000 USD
us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
17211000 USD
CY2014Q4 us-gaap Other Assets Current
OtherAssetsCurrent
27825000 USD
CY2015Q3 us-gaap Other Assets Current
OtherAssetsCurrent
9980000 USD
CY2014Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
57012000 USD
CY2015Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
64352000 USD
CY2014Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
0 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
0 USD
CY2015Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-3463000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-4315000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Before Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentBeforeTaxPortionAttributableToNoncontrollingInterest
-1100000 USD
CY2014Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-90589000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-51637000 USD
CY2015Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-78438000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-133823000 USD
CY2014Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
388290000 USD
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
1141376000 USD
CY2015Q3 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
440119000 USD
us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
1245443000 USD
CY2014Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
141825000 USD
CY2015Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
153109000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
118969000 USD
CY2015Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
130301000 USD
us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
37622000 USD
us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
48801000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
103690000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
15639000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
9605000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
10500000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
9100000 USD
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
88505000 USD
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
0 USD
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
2655000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
10493000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
12332000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
34217000 USD
us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
40784000 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0 USD
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
1984000 USD
CY2014Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
64963000 USD
CY2015Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
90065000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
2224000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
4610000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1314000000 USD
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
1389000000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
9420000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-6472000 USD
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
18277000 USD
us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
-3797000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
49225000 USD
us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
40938000 USD
us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
1340000 USD
us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
6813000 USD
CY2014Q3 us-gaap Profit Loss
ProfitLoss
104737000 USD
us-gaap Profit Loss
ProfitLoss
193244000 USD
CY2015Q3 us-gaap Profit Loss
ProfitLoss
113185000 USD
us-gaap Profit Loss
ProfitLoss
247866000 USD
CY2014Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
368361000 USD
CY2015Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
377832000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
10615000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
15118000 USD
CY2014Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
13449000 USD
CY2015Q3 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
8917000 USD
CY2015Q3 us-gaap Redeemable Noncontrolling Interest Equity Redemption Value
RedeemableNoncontrollingInterestEquityRedemptionValue
177000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
1203571000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
1143672000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
3188000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
3187000 USD
us-gaap Restructuring Charges
RestructuringCharges
6900000 USD
us-gaap Restructuring Charges
RestructuringCharges
8000000 USD
CY2014Q3 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
-37000 USD
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
41379000 USD
CY2015Q3 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
18108000 USD
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
20757000 USD
CY2013Q4 us-gaap Restructuring Reserve
RestructuringReserve
10500000 USD
CY2014Q3 us-gaap Restructuring Reserve
RestructuringReserve
6900000 USD
CY2014Q4 us-gaap Restructuring Reserve
RestructuringReserve
7600000 USD
CY2015Q3 us-gaap Restructuring Reserve
RestructuringReserve
6500000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1631145000 USD
CY2015Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1861427000 USD
CY2014Q3 us-gaap Revenues
Revenues
1365975000 USD
us-gaap Revenues
Revenues
3680622000 USD
CY2015Q3 us-gaap Revenues
Revenues
1501267000 USD
us-gaap Revenues
Revenues
4078254000 USD
CY2014Q4 us-gaap Senior Long Term Notes
SeniorLongTermNotes
275000000 USD
CY2015Q3 us-gaap Senior Long Term Notes
SeniorLongTermNotes
275000000 USD
CY2014Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
19623000 USD
CY2015Q3 us-gaap Short Term Borrowings
ShortTermBorrowings
30504000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4610000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
2386797000 USD
CY2015Q3 us-gaap Stockholders Equity
StockholdersEquity
2506500000 USD
CY2014Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2409120000 USD
CY2015Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
2525783000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
8300000 USD
us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
18500000 USD
CY2014Q4 us-gaap Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
83312000 USD
CY2015Q3 us-gaap Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
41274000 USD
CY2014Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45290595 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45241766 shares
CY2015Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45452959 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45394517 shares
CY2014Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44809133 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44637429 shares
CY2015Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45001309 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44905217 shares
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 comprises the entire amount billed 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 expenses in our 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 and 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 on 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. The reimbursable costs associated with these net contracts aggregated approximately </font><font style="font-family:inherit;font-size:10pt;">$499.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$465.4 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three months ended September 30, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2014</font><font style="font-family:inherit;font-size:10pt;">, respectively, and </font><font style="font-family:inherit;font-size:10pt;">$1.5 billion</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$1.4 billion</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2014</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;">$214.0 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$185.4 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">three months ended September 30, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2014</font><font style="font-family:inherit;font-size:10pt;">, respectively, and </font><font style="font-family:inherit;font-size:10pt;">$580.0 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">$536.3 million</font><font style="font-family:inherit;font-size:10pt;"> for the </font><font style="font-family:inherit;font-size:10pt;">nine months ended September 30, 2015</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;">2014</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>
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>
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 services unless future contingencies exist.</font></div></div>
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>

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