other
confidence high
sentiment neutral
materiality 0.25
JLL recasts historical financials with revised non-GAAP definitions and discontinued fee revenue metric
JONES LANG LASALLE INC
- No longer reports 'Fee revenue' and 'Fee-based operating expenses' as non-GAAP measures following SEC Staff comment letter.
- Adjusted EBITDA and Adjusted net income definitions updated to exclude JLL Technologies and LaSalle equity earnings/losses.
- AUM calculation refined to include uncalled committed capital and cash, aligning with new industry standard definition.
- Recast quarterly data for FY2020 through FY2023 posted on Investor Relations website and furnished as Exhibit 99.1.
- Changes have no impact on GAAP net income, EPS, or cash flow.