2013 Q1 Form 10-Q Financial Statement

#000144530513001203 Filed on May 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q1 2012 Q1
Revenue $856.0M $813.3M
YoY Change 5.25% 18.23%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $813.6M $770.1M
YoY Change 5.65% 17.13%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.10M $19.70M
YoY Change -3.05% 7.65%
% of Gross Profit
Operating Expenses $835.9M $798.7M
YoY Change 4.65% 18.19%
Operating Profit $20.10M $14.57M
YoY Change 37.95%
Interest Expense $7.923M $7.426M
YoY Change 6.69% -175.01%
% of Operating Profit 39.42% 50.96%
Other Income/Expense, Net
YoY Change
Pretax Income $17.66M $18.99M
YoY Change -7.02% 804.43%
Income Tax $4.397M $4.824M
% Of Pretax Income 24.9% 25.4%
Net Earnings $13.16M $14.02M
YoY Change -6.19% 834.93%
Net Earnings / Revenue 1.54% 1.72%
Basic Earnings Per Share $0.30 $0.32
Diluted Earnings Per Share $0.29 $0.31
COMMON SHARES
Basic Shares Outstanding 44.08M shares 43.61M shares
Diluted Shares Outstanding 45.06M shares 44.69M shares

Balance Sheet

Concept 2013 Q1 2012 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $133.0M $102.0M
YoY Change 30.39% 0.99%
Cash & Equivalents $133.5M $101.8M
Short-Term Investments
Other Short-Term Assets $21.57M $123.0M
YoY Change -82.47% -7.52%
Inventory
Prepaid Expenses $56.65M
Receivables $913.6M $808.0M
Other Receivables $242.0M $98.00M
Total Short-Term Assets $1.420B $1.132B
YoY Change 25.4% -0.26%
LONG-TERM ASSETS
Property, Plant & Equipment $261.0M $245.0M
YoY Change 6.51% 20.69%
Goodwill $1.837B
YoY Change
Intangibles $43.56M
YoY Change
Long-Term Investments $272.0M $236.0M
YoY Change 15.25% 32.58%
Other Assets $148.2M $329.0M
YoY Change -54.95% 24.62%
Total Long-Term Assets $2.816B $2.697B
YoY Change 4.4% 21.87%
TOTAL ASSETS
Total Short-Term Assets $1.420B $1.132B
Total Long-Term Assets $2.816B $2.697B
Total Assets $4.235B $3.829B
YoY Change 10.61% 14.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $400.0M $404.0M
YoY Change -0.99% 20.6%
Accrued Expenses $414.0M $382.0M
YoY Change 8.38% 7.61%
Deferred Revenue
YoY Change
Short-Term Debt $37.80M $0.00
YoY Change -100.0%
Long-Term Debt Due $38.00M $29.00M
YoY Change 31.03% -32.56%
Total Short-Term Liabilities $1.279B $994.0M
YoY Change 28.69% -14.68%
LONG-TERM LIABILITIES
Long-Term Debt $745.0M $632.0M
YoY Change 17.88% 127.34%
Other Long-Term Liabilities $71.20M $441.0M
YoY Change -83.85% 62.73%
Total Long-Term Liabilities $71.20M $1.073B
YoY Change -93.36% 95.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.279B $994.0M
Total Long-Term Liabilities $71.20M $1.073B
Total Liabilities $2.305B $2.077B
YoY Change 10.96% 19.64%
SHAREHOLDERS EQUITY
Retained Earnings $1.030B
YoY Change
Common Stock $939.5M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.923B $1.752B
YoY Change
Total Liabilities & Shareholders Equity $4.235B $3.829B
YoY Change 10.61% 14.37%

Cashflow Statement

Concept 2013 Q1 2012 Q1
OPERATING ACTIVITIES
Net Income $13.16M $14.02M
YoY Change -6.19% 834.93%
Depreciation, Depletion And Amortization $19.10M $19.70M
YoY Change -3.05% 7.65%
Cash From Operating Activities -$301.5M -$196.1M
YoY Change 53.71% -0.55%
INVESTING ACTIVITIES
Capital Expenditures -$12.70M -$11.80M
YoY Change 7.63% -31.4%
Acquisitions $1.316M $4.948M
YoY Change -73.4%
Other Investing Activities -$8.100M -$4.300M
YoY Change 88.37% -70.14%
Cash From Investing Activities -$20.78M -$16.15M
YoY Change 28.66% -48.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $303.5M $129.7M
YoY Change 134.1% 66.66%
NET CHANGE
Cash From Operating Activities -$301.5M -$196.1M
Cash From Investing Activities -$20.78M -$16.15M
Cash From Financing Activities $303.5M $129.7M
Net Change In Cash -$18.69M -$82.61M
YoY Change -77.38% -45.29%
FREE CASH FLOW
Cash From Operating Activities -$301.5M -$196.1M
Capital Expenditures -$12.70M -$11.80M
Free Cash Flow -$288.8M -$184.3M
YoY Change 56.66% 2.4%

Facts In Submission

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0.15
CY2013Q1 us-gaap Minority Interest
MinorityInterest
7964000 USD
CY2012Q4 us-gaap Minority Interest
MinorityInterest
8073000 USD
CY2013Q1 us-gaap Minority Interest Increase From Stock Issuance
MinorityInterestIncreaseFromStockIssuance
215000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
303544000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
129663000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-16149000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-20777000 USD
CY2012Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-196122000 USD
CY2013Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-301456000 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
13156000 USD
CY2012Q1 us-gaap Net Income Loss
NetIncomeLoss
14024000 USD
CY2012Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
145000 USD
CY2013Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
106000 USD
CY2013Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
13156000 USD
CY2012Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
14024000 USD
CY2013Q1 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
104767000 USD
CY2012Q4 us-gaap Notes And Loans Receivable Net Current
NotesAndLoansReceivableNetCurrent
101952000 USD
CY2013Q1 us-gaap Notional Amount Of Foreign Currency Derivatives
NotionalAmountOfForeignCurrencyDerivatives
1780000000 USD
CY2012Q4 us-gaap Notional Amount Of Foreign Currency Derivatives
NotionalAmountOfForeignCurrencyDerivatives
1950000000 USD
CY2013Q1 us-gaap Operating Expenses
OperatingExpenses
835888000 USD
CY2012Q1 us-gaap Operating Expenses
OperatingExpenses
798723000 USD
CY2012Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
14571000 USD
CY2013Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
20100000 USD
CY2013Q1 us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
7533000 USD
CY2012Q1 us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
13362000 USD
CY2012Q1 us-gaap Restructuring Reserve
RestructuringReserve
29074000 USD
CY2011Q4 us-gaap Restructuring Reserve
RestructuringReserve
31957000 USD
CY2013Q1 us-gaap Restructuring Reserve
RestructuringReserve
24769000 USD
CY2012Q4 us-gaap Restructuring Reserve
RestructuringReserve
31377000 USD
CY2013Q1 us-gaap Other Assets Current
OtherAssetsCurrent
21568000 USD
CY2012Q4 us-gaap Other Assets Current
OtherAssetsCurrent
16484000 USD
CY2013Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
148201000 USD
CY2012Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
142059000 USD
CY2012Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
35674000 USD
CY2013Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-48625000 USD
CY2012Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
232596000 USD
CY2013Q1 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
249921000 USD
CY2013Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
101637000 USD
CY2012Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
109909000 USD
CY2013Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
71201000 USD
CY2012Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
75415000 USD
CY2013Q1 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
1796000 USD
CY2012Q1 us-gaap Payments For Previous Acquisition
PaymentsForPreviousAcquisition
0 USD
CY2013Q1 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
12688000 USD
CY2012Q1 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
11826000 USD
CY2013Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
495000 USD
CY2012Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
CY2013Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1093000 USD
CY2012Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
3901000 USD
CY2013Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1316000 USD
CY2012Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
4948000 USD
CY2013Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
12122000 USD
CY2012Q1 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
6882000 USD
CY2013Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
56646000 USD
CY2012Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
53165000 USD
CY2013Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
89000 USD
CY2012Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
95000 USD
CY2013Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
639065000 USD
CY2012Q1 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
587500000 USD
CY2013Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
5349000 USD
CY2012Q1 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
7507000 USD
CY2013Q1 us-gaap Profit Loss
ProfitLoss
13262000 USD
CY2012Q1 us-gaap Profit Loss
ProfitLoss
14169000 USD
CY2013Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
260961000 USD
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
269338000 USD
CY2012Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4993000 USD
CY2013Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5074000 USD
CY2013Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
332500000 USD
CY2012Q1 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
454992000 USD
CY2012Q1 us-gaap Restructuring Charges
RestructuringCharges
8952000 USD
CY2013Q1 us-gaap Restructuring Charges
RestructuringCharges
3168000 USD
CY2012Q1 us-gaap Restructuring Reserve Accrual Adjustment
RestructuringReserveAccrualAdjustment
1706000 USD
CY2013Q1 us-gaap Restructuring Reserve Settled With Cash
RestructuringReserveSettledWithCash
9776000 USD
CY2012Q1 us-gaap Restructuring Reserve Settled With Cash
RestructuringReserveSettledWithCash
10129000 USD
CY2013Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1030284000 USD
CY2012Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1017128000 USD
CY2013Q1 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 (&#8220;ASC&#8221;) 605-45, &#8220;Principal and Agent Considerations,&#8221; 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 a fixed fee billing, fully inclusive of all personnel and other recoverable expenses incurred but not separately scheduled, on a </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">gross basis</font><font style="font-family:inherit;font-size:10pt;">. 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 in facility management, tend to have characteristics that result in accounting on a gross basis. In Note 4, Business Segments, we identify vendor and subcontract costs on certain client assignments in property and facilities management, and project and development services (&#8220;gross contract costs&#8221;), and present separately their impact on both revenue and operating expense in our RES segments. We exclude these costs from revenue and operating expenses in determining &#8220;fee revenue&#8221; and &#8220;fee based operating expenses&#8221; 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 </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">net basis</font><font style="font-family:inherit;font-size:10pt;"> 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%;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 Jones Lang LaSalle 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;">Because 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, Jones Lang LaSalle 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;">Jones Lang LaSalle 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;">The majority of our service contracts are accounted for on a net basis. T</font><font style="font-family:inherit;font-size:10pt;">otal costs incurred and reimbursed by our clients for service contracts that were accounted for on a net basis were </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$423.7 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$415.7 million</font><font style="font-family:inherit;font-size:10pt;"> for the three months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2012</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;">Contracts accounted for on a gross basis resulted in certain costs reflected in revenue and operating expenses of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$75.5 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$68.4 million</font><font style="font-family:inherit;font-size:10pt;"> for the three months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;">, and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2012</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;">The presentation of expenses pursuant to all of 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;"><br clear="none"/></font></div></div>
CY2013Q1 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 </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">project and development management and construction management fees</font><font style="font-family:inherit;font-size:10pt;"> by applying the percentage of completion method of accounting. We use the efforts expended method to determine the extent of progress towards completion for project and development management fees, and costs incurred to total estimated costs 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;font-weight:bold;">Construction management fees</font><font style="font-family:inherit;font-size:10pt;">, which are gross construction services revenue net of subcontract costs, were </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$1.7 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$1.6 million</font><font style="font-family:inherit;font-size:10pt;"> for the three months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2012</font><font style="font-family:inherit;font-size:10pt;">, respectively. Gross construction services revenue totaled </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$41.2 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$31.7 million</font><font style="font-family:inherit;font-size:10pt;"> for the three months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2012</font><font style="font-family:inherit;font-size:10pt;">, respectively. Subcontract costs totaled </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$39.5 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$30.1 million</font><font style="font-family:inherit;font-size:10pt;"> for the three months ended </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2013</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">2012</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;">At </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">March&#160;31, 2013</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, 2012</font><font style="font-family:inherit;font-size:10pt;">, Trade receivables included costs in excess of billings on uncompleted construction contacts of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$11.9 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$7.9 million</font><font style="font-family:inherit;font-size:10pt;">, respectively, and Deferred income included billings in excess of costs on uncompleted construction contracts of </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$3.0 million</font><font style="font-family:inherit;font-size:10pt;"> and </font><font style="font-family:inherit;font-size:10pt;color:#000000;text-decoration:none;">$5.2 million</font><font style="font-family:inherit;font-size:10pt;">, respectively. </font></div></div>
CY2013Q1 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 </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">transaction commissions</font><font style="font-family:inherit;font-size:10pt;"> related to leasing services and capital markets services as revenue when we provide the related service unless future contingencies exist. If future contingencies exist, we defer recognition of this revenue until the respective contingencies have been satisfied.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
CY2013Q1 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;">We recognize </font><font style="font-family:inherit;font-size:10pt;font-weight:bold;">advisory and management fees</font><font style="font-family:inherit;font-size:10pt;"> related to property management services, valuation services, corporate property services, consulting services and investment management as income in the period in which we perform the related services.</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
CY2012Q1 us-gaap Revenues
Revenues
813294000 USD
CY2013Q1 us-gaap Revenues
Revenues
855988000 USD
CY2013Q1 us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
861470000 USD
CY2012Q1 us-gaap Segment Reporting Information Revenue
SegmentReportingInformationRevenue
825142000 USD
CY2013Q1 us-gaap Senior Long Term Notes
SeniorLongTermNotes
275000000 USD
CY2012Q4 us-gaap Senior Long Term Notes
SeniorLongTermNotes
275000000 USD
CY2012Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
32233000 USD
CY2013Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
37798000 USD
CY2013Q1 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
89000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
1951183000 USD
CY2013Q1 us-gaap Stockholders Equity
StockholdersEquity
1922546000 USD
CY2013Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1930510000 USD
CY2012Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1959256000 USD
CY2012Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
378000 USD
CY2013Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
844000 USD
CY2013Q1 us-gaap Variable Interest Entity Entity Maximum Loss Exposure Amount
VariableInterestEntityEntityMaximumLossExposureAmount
54600000 USD
CY2013Q1 us-gaap Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
137445000 USD
CY2012Q4 us-gaap Warehouse Agreement Borrowings
WarehouseAgreementBorrowings
144257000 USD
CY2013Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45055399 shares
CY2012Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
44685138 shares
CY2013Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44080767 shares
CY2012Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
43605273 shares
CY2013Q1 jll Accumulated Amortization Finite Lived Intangible Assets Translation Adjustments
AccumulatedAmortizationFiniteLivedIntangibleAssetsTranslationAdjustments
1850000 USD
CY2013Q1 jll Cash Paid For New Acquisitions And Contingent Earn Out Consideration
CashPaidForNewAcquisitionsAndContingentEarnOutConsideration
3100000 USD
CY2012Q1 jll Construction Management Revenue Net Of Costs
ConstructionManagementRevenueNetOfCosts
1600000 USD
CY2013Q1 jll Construction Management Revenue Net Of Costs
ConstructionManagementRevenueNetOfCosts
1700000 USD
CY2013Q1 jll Defined Benefit Plan Estimated Future Employer Contribution In Entire Current Fiscal Year
DefinedBenefitPlanEstimatedFutureEmployerContributionInEntireCurrentFiscalYear
12900000 USD
CY2013Q1 jll Distributions To Real Estate Ventures
DistributionsToRealEstateVentures
-1458000 USD
CY2013Q1 jll Equity Method Investment Ownership Percentage Minimum
EquityMethodInvestmentOwnershipPercentageMinimum
0.01
CY2013Q1 jll Finite And Indefinite Lived Intangible Assets Additions
FiniteAndIndefiniteLivedIntangibleAssetsAdditions
1008000 USD
CY2012Q4 jll Finite And Indefinite Lived Intangible Assets Gross
FiniteAndIndefiniteLivedIntangibleAssetsGross
156280000 USD
CY2013Q1 jll Finite And Indefinite Lived Intangible Assets Gross
FiniteAndIndefiniteLivedIntangibleAssetsGross
154521000 USD
CY2013Q1 jll Finite And Indefinite Lived Intangible Assets Translation Adjustments
FiniteAndIndefiniteLivedIntangibleAssetsTranslationAdjustments
-2767000 USD
CY2013Q1 jll Foreign Currency Forward Contract Net Notional Value
ForeignCurrencyForwardContractNetNotionalValue
790700000 USD
CY2012Q4 jll Foreign Currency Forward Contract Net Notional Value
ForeignCurrencyForwardContractNetNotionalValue
886600000 USD
CY2013Q1 jll Foreign Currency Translation Adjustments Net
ForeignCurrencyTranslationAdjustmentsNet
208000 USD
CY2012Q1 jll Foreign Currency Translation Adjustments Net
ForeignCurrencyTranslationAdjustmentsNet
516000 USD
CY2013Q1 jll Goodwill Additions Net Of Adjustments
GoodwillAdditionsNetOfAdjustments
14375000 USD
CY2012Q1 jll Gross Revenue And Expenses For Management Services
GrossRevenueAndExpensesForManagementServices
68400000 USD
CY2013Q1 jll Gross Revenue And Expenses For Management Services
GrossRevenueAndExpensesForManagementServices
75500000 USD
CY2013Q1 jll Increase Decrease In Common Stock Held In Trust
IncreaseDecreaseInCommonStockHeldInTrust
29000 USD
CY2012Q1 jll Investments In Real Estate Ventures
InvestmentsInRealEstateVentures
1890000 USD
CY2013Q1 jll Investments In Real Estate Ventures
InvestmentsInRealEstateVentures
186000 USD
CY2013Q1 jll Level Of Risk Retained Per Claim
LevelOfRiskRetainedPerClaim
2500000 USD
CY2013Q1 jll Maximum Expected Period For Vehicle To Draw Down On Commitment
MaximumExpectedPeriodForVehicleToDrawDownOnCommitment
P5Y
CY2013Q1 jll Minimum Expected Period For Vehicle To Draw Down On Commitment
MinimumExpectedPeriodForVehicleToDrawDownOnCommitment
P3Y
CY2013Q1 jll Minority Shareholder Redemption Liability Noncurrent
MinorityShareholderRedemptionLiabilityNoncurrent
19707000 USD
CY2012Q4 jll Minority Shareholder Redemption Liability Noncurrent
MinorityShareholderRedemptionLiabilityNoncurrent
19489000 USD
CY2013Q1 jll Number Of Acquisitions Subject To Potential Earn Out Payments Provisions
NumberOfAcquisitionsSubjectToPotentialEarnOutPaymentsProvisions
9 acquisition
CY2013Q1 jll Number Of Contributory Defined Benefit Pension Plans
NumberOfContributoryDefinedBenefitPensionPlans
5 plan
CY2013Q1 jll Number Of Investment Vehicles Utilized To Facilitate Majority Of Co Investment Activity
NumberOfInvestmentVehiclesUtilizedToFacilitateMajorityOfCoInvestmentActivity
2 investment
CY2013Q1 jll Number Of Separate Property Or Fund Co Investments
NumberOfSeparatePropertyOrFundCoInvestments
50 investment
CY2013Q1 jll Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAociPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
600000 USD
CY2012Q1 jll Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAociPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
600000 USD
CY2013Q1 jll Potential Earn Out Payments Resulting From Acquisitions Completed Prior To Adoption Of Fair Value Requirements For Contingent Consideration
PotentialEarnOutPaymentsResultingFromAcquisitionsCompletedPriorToAdoptionOfFairValueRequirementsForContingentConsideration
5800000 USD
CY2013Q1 jll Provision Recorded For Potential Earn Out Obligations
ProvisionRecordedForPotentialEarnOutObligations
13059000 USD
CY2012Q1 jll Provision Recorded For Potential Earn Out Obligations
ProvisionRecordedForPotentialEarnOutObligations
1290000 USD
CY2013Q1 jll Remaining Potential Earn Out Payments
RemainingPotentialEarnOutPayments
20500000 USD
CY2012Q1 jll Segment Reporting Information Operating Expenses
SegmentReportingInformationOperatingExpenses
789771000 USD
CY2013Q1 jll Segment Reporting Information Operating Expenses
SegmentReportingInformationOperatingExpenses
832720000 USD
CY2012Q1 jll Subcontract Costs
SubcontractCosts
30100000 USD
CY2013Q1 jll Subcontract Costs
SubcontractCosts
39500000 USD
CY2013Q1 jll Supplemental Acquisition Fees And Costs
SupplementalAcquisitionFeesAndCosts
0 USD
CY2012Q1 jll Supplemental Acquisition Fees And Costs
SupplementalAcquisitionFeesAndCosts
-1059000 USD
CY2013Q1 jll Unamortized Intangibles And Goodwill
UnamortizedIntangiblesAndGoodwill
1900000000 USD
CY2013Q1 dei Amendment Flag
AmendmentFlag
false
CY2013Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2013Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2013Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
CY2013Q1 dei Document Period End Date
DocumentPeriodEndDate
2013-03-31
CY2013Q1 dei Document Type
DocumentType
10-Q
CY2013Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001037976
CY2013Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
44096420 shares
CY2013Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2013Q1 dei Entity Registrant Name
EntityRegistrantName
JONES LANG LASALLE INC

Files In Submission

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0001445305-13-001203-index-headers.html Edgar Link pending
0001445305-13-001203-index.html Edgar Link pending
0001445305-13-001203.txt Edgar Link pending
0001445305-13-001203-xbrl.zip Edgar Link pending
exhibit311-jll.htm Edgar Link pending
exhibit312-jll.htm Edgar Link pending
exhibit321-jll.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
jll-20130331.xml Edgar Link completed
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jll-20130331_cal.xml Edgar Link unprocessable
jll-20130331_def.xml Edgar Link unprocessable
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