Jones Lang LaSalle Reports Second Quarter 2013 Revenue Increase to $989 Million

   Jones Lang LaSalle Reports Second Quarter 2013 Revenue Increase to $989
                                   Million

Fee revenue of $908 million, up 7 percent from the second quarter of 2012

PR Newswire

CHICAGO, July 30, 2013

CHICAGO, July 30, 2013 /PRNewswire/ --Jones Lang LaSalle Incorporated (NYSE:
JLL) today reported adjusted earnings per share ("EPS") of $1.15 for the
second quarter of 2013, up from $1.13 in the prior year. Second-quarter
revenue of $989 million was up 8 percent. Fee revenue was $908 million, an
increase of 7 percent.

  oContinued solid fee revenue growth with 7 percent increase for the quarter
    and year to date
  oStrong capital raise by LaSalle Investment Management; $1.8 billion
    committed in the quarter
  oCapital Markets & Hotels outperformed markets in all regions
  oLeasing growth in the Americas driven by further market share gains
  oRevenue performance in BRIC countries impacted by strong comparable
    quarter in 2012
  oHealthy corporate outsourcing pipeline; transitioning new clients from
    previous wins

Summary Financial Results           Three Months Ended   Six Months Ended

 ($ in millions, except per       June 30,             June 30,
share data)
                                    2013      2012       2013       2012
Revenue                             $  989  $  921   $ 1,845   $ 1,735
Fee Revenue^1                       $  908  $  852   $ 1,689   $ 1,597
Adjusted Net Income^2               $   52 $   51  $    68 $    73
U.S. GAAP Net Income                $   46 $   37  $    59 $    51
Adjusted Earnings per Share^2       $  1.15  $  1.13   $  1.50  $  1.63
Earnings per Share                  $  1.03  $  0.83   $  1.32  $  1.14
Adjusted EBITDA^3                   $  102  $   95  $   150  $   150
 Adjusted EBITDA, Real Estate   $   82 $   84  $   116  $   112
Services
 Adjusted EBITDA, LaSalle       $   20 $   11  $    34 $    38
Investment Management
See Financial Statement Notes (1), (2) and (3) following the Financial
Statements in this news release

"We are pleased with our revenue growth and particularly with the performance
ofourCapital Markets & Hotels business globally," said Colin Dyer, President
and Chief Executive Officer of Jones Lang LaSalle. "Leasing results outpaced
the overall market despite hesitant corporate occupiers and reduced activity
in the BRIC countries. We are moving with confidence into the seasonally
strong second half of the year," Dyer continued.

Consolidated Revenue                     %                              %
                     Three Months Ended          Six Months Ended June
 ($ in millions,   June 30,            Change  30,                    Change
"LC" = local
currency)                                in LC                          in LC
                     2013       2012             2013        2012
Real Estate Services
("RES")
Leasing              $  298.6  $ 299.0  0%      $  527.8  $  529.2  0%
Capital Markets &    157.6      115.7    37%     278.3       204.5      37%
Hotels
Property & Facility  257.5      238.4    10%     508.8       478.6      8%
Management
Property & Facility
Management Fee       210.6      199.0    8%      422.9       399.9      7%

Revenue^1
Project &            120.3      116.7    3%      234.0       224.3      5%
Development Services
Project &
Development Services
Fee                  86.1       87.0     0%      163.3       165.4      0%

Revenue^1
Advisory, Consulting 94.1       92.4     2%      175.5       171.4      3%
and Other
 Total RES       $  928.1  $ 862.2  8%      $ 1,724.4  $ 1,608.0  8%
Revenue
Total RES Fee        $  847.0  $       7%      $ 1,567.8  $         7%
Revenue^1                       793.1                        1,470.4
LaSalle Investment
Management
Advisory Fees        $        $       (2%)    $   111.5 $         (1%)
                     55.1      57.2                        114.6
Transaction Fees &   5.2        1.6      n/m     8.3         3.4        n/m
Other
Incentive Fees       1.0        0.3      n/m     1.2         8.7        (86%)
 Total LaSalle
Investment           $        $                           $ 
                     61.3      59.1    5%      $   121.0 126.7     (3%)
 Management
Revenue
Total Firm Revenue   $  989.4 $ 921.3  8%      $ 1,845.4  $ 1,734.7  7%
Total Firm Fee       $  908.3 $       7%      $ 1,688.8  $         7%
Revenue^1                       852.2                        1,597.1
n/m – not meaningful

Consolidated Performance Highlights:

  oConsolidated fee revenue growth of 7 percent, for the second quarter and
    year to date, was driven by a 37 percent increase in Capital Markets &
    Hotels, partially offset by revenue decreases in the BRIC countries.
  oProperty & Facility Management fee revenue growth of 8 percent for the
    quarter, 7 percent year to date, was led by 14 percent increases from Asia
    Pacific, adding to the firm's annuity revenue base.
  oConsolidated fee-based operating expenses, excluding restructuring and
    acquisition charges, were $836 million in the second quarter, up 8
    percent, and $1.6 billion year to date, up 7 percent, driven partially by
    the up-front costs of transitioning significant new corporate outsourcing
    clients that will begin generating revenue in the second half of 2013, as
    well as variable compensation from increases in Capital Markets revenue.

Balance Sheet and Net Interest Expense:

  oThe firm reduced total net debt by $37 million during the quarter to $833
    million consistent with seasonal borrowing and repayment patterns.
  oNet interest expense for the second quarter was $9.0 million compared with
    $7.5 million a year ago, reflecting the diversification of our low-cost
    debt to include $275 million of 10-year Senior Notes fixed at 4.4 percent,
    which were issued in November 2012.
  oDuring the quarter, the firm made deferred acquisition and earn-out
    payments of $72 million primarily related to the Staubach and King Sturge
    acquisitions.

       oThe final scheduled payment related to Staubach of $34 million will
         be made in the third quarter of 2013.

Business Segment Performance Highlights

Americas Real Estate Services
Americas Revenue                            %                           %
                        Three Months Ended          Six Months Ended
 ($ in millions, "LC" June 30,            Change  June 30,            Change
= local currency)
                        2013      2012      in LC   2013      2012      in LC
Leasing                 $  197.8 $ 187.0  6%      $  350.1 $ 336.6  4%
Capital Markets &       53.4      42.1      27%     92.1      70.0      31%
Hotels
Property & Facility     110.1     102.2     8%      218.6     203.6     8%
Management
Property & Facility
Management Fee          86.3      82.2      5%      175.7     167.9     5%

Revenue^1
Project & Development   42.7      45.1      (5%)    80.7      84.7      (4%)
Services
Project & Development
Services Fee            42.3      44.9      (6%)    80.1      84.4      (5%)

Revenue^1
Advisory, Consulting    27.5      26.8      3%      51.5      49.7      4%
and Other
 Operating Revenue  $  431.5 $ 403.2  7%      $  793.0 $ 744.6  7%
Equity Earnings         0.1       (0.3)     n/m     0.3       (0.2)     n/m
Total Segment Revenue   $  431.6 $ 402.9  7%      $  793.3 $ 744.4  7%
 Total Segment Fee  $  407.4 $ 382.7  7%      $  749.8 $ 708.4  6%
Revenue^1
n/m – not meaningful

Americas Performance Highlights:

  oRevenue growth was driven by higher transactional revenue, led by Capital
    Markets & Hotels, up 27 percent for the quarter and 31 percent year to
    date, partially offset by lower Latin America revenue against the prior
    year.
  oFee-based operating expenses were $372 million for the quarter, up 8
    percent, driven by up-front transition costs incurred from a number of
    large new corporate outsourcing clients that will begin generating revenue
    during the second half of the year, as well as variable compensation from
    increases in transactional revenue.
  oOperating income was $35 million for the quarter, compared with $38
    million in 2012. Operating income margin calculated on a fee revenue
    basis was 8.7 percent, compared with 9.9 percent last year.
  oAdjusted EBITDA was $47 million for the quarter, compared with $49 million
    in 2012. EBITDA margin calculated on a fee revenue basis was 11.5 percent
    in the quarter, compared with 12.7 percent last year.

EMEA Real Estate Services
EMEA Revenue                                %                           %
                       Three Months Ended           Six Months Ended
 ($ in millions,     June 30,             Change  June 30,            Change
"LC" = local currency)
                       2013       2012      in LC   2013      2012      in LC
Leasing                $  60.2   $ 66.4   (10%)   $  109.1 $ 113.7  (4%)
Capital Markets &      63.2       49.8      28%     121.5     89.1      37%
Hotels
Property & Facility    46.9       43.1      10%     89.7      85.6      5%
Management
Property & Facility
Management Fee         42.0       41.8      1%      82.5      82.9      0%
Revenue^1
Project & Development  56.2       52.4      6%      112.1     103.0     9%
Services
Project & Development  27.6       25.8      7%      51.6      50.0      3%
Services Fee Revenue^1
Advisory, Consulting   41.6       42.8      (2%)    80.7      81.1      1%
and Other
 Operating Revenue $  268.1  $ 254.5  6%      $  513.1 $ 472.5  9%
Equity Earnings        (0.5)      (0.1)     n/m     (0.5)     (0.1)     n/m
Total Segment Revenue  $  267.6  $ 254.4  5%      $  512.6 $ 472.4  9%
 Total Segment Fee $  234.1 $ 226.5  4%      $        $ 416.7  7%
Revenue^1                                           444.9
n/m – not meaningful

EMEA Performance Highlights:

  oRevenue growth was driven by Capital Markets & Hotels, up 28 percent for
    the quarter and 37 percent year to date, led by the UK and France.
    Revenue growth was partially offset by lower Leasing revenue, particularly
    in Russia and Germany when compared to 2012 performance that helped drive
    a 20 percent increase in Leasing revenue for the region in the prior year
    second quarter.
  oFee-based operating expenses were $221 million for the quarter, up 4
    percent, primarily due to the net increase in transactional revenue
    activity and increased variable operating costs associated with building
    pipelines for the second half of the year.
  oAdjusted operating income, which excludes King Sturge amortization, was
    $14 million for the quarter, compared with $15 million in 2012. Adjusted
    operating income margin calculated on a fee revenue basis was 5.8 percent
    compared with 6.6 percent last year.
  oAdjusted EBITDA was $18 million for the quarter, compared with $19 million
    in 2012. EBITDA margin calculated on a fee revenue basis was 7.7 percent
    compared with 8.4 percent last year.



Asia Pacific Real Estate Services
Asia Pacific Revenue                        %                           %
                        Three Months Ended          Six Months Ended
 ($ in millions, "LC" June 30,            Change  June 30,            Change
= local currency)
                        2013      2012      in LC   2013      2012      in LC
Leasing                 $  40.6  $ 45.6   (10%)   $  68.6  $ 78.9   (12%)
Capital Markets &       41.0      23.8      74%     64.7      45.4      44%
Hotels
Property & Facility     100.5     93.1      13%     200.5     189.4     10%
Management
Property & Facility
Management Fee          82.3      75.0      14%     164.7     149.1     14%
Revenue^1
Project & Development   21.4      19.2      15%     41.2      36.6      16%
Services
Project & Development   16.2      16.3      2%      31.6      31.0      5%
Services Fee Revenue^1
Advisory, Consulting    25.0      22.8      9%      43.3      40.6      8%
and Other
 Operating Revenue  $  228.5 $ 204.5  15%     $  418.3 $ 390.9  10%
Equity Earnings         (0.1)     0.1       n/m     0.0       0.1       n/m
Total Segment Revenue   $  228.4 $ 204.6  15%     $  418.3 $ 391.0  10%
 Total Segment Fee  $  205.0 $ 183.6  14%     $  372.9 $ 345.1  11%
Revenue^1
n/m – not meaningful

Asia Pacific Performance Highlights:

  oRevenue growth was led by both transactional growth in Capital Markets &
    Hotels, up 74 percent for the quarter and 44 percent year to date, led by
    Australia and Singapore, as well as annuity growth in Property & Facility
    Management, up 14 percent in fee revenue in both periods. This growth was
    partially offset by Leasing revenue declines in China, India and
    Australia.
  oFee-based operating expenses were $192 million for the quarter, up 15
    percent, partially due to increased compensation costs from a larger
    employee base serving Property & Facility Management clients, as well as
    commissions earned on Capital Markets revenue.
  oOperating income was $13 million for the quarter, consistent with 2012.
    Operating income margin calculated on a fee revenue basis was 6.5 percent,
    compared with 7.2 percent last year.
  oAdjusted EBITDA was $16 million for the quarter, compared with $17 million
    in 2012. EBITDA margin calculated on a fee revenue basis was 8.0 percent,
    compared with 9.0 percent last year.

LaSalle Investment Management
LaSalle Investment
                                           %                            %
 Management Revenue  Three Months Ended          Six Months Ended
                       June 30,            Change  June 30,             Change
 ($ in millions,
"LC" = local currency)                     in LC                        in LC
                       2013       2012             2013       2012
Advisory Fees          $  55.1   $ 57.2  (2%)    $  111.5  $ 114.6  (1%)
Transaction Fees &     5.2        1.6      n/m     8.3        3.4       n/m
Other
Incentive Fees         1.0        0.3      n/m     1.2        8.7       (86%)
 Operating Revenue $  61.3   $ 59.1  5%      $  121.0  $ 126.7  (3%)
Equity Earnings        9.7        0.2      n/m     14.8       11.9      24%
Total Segment Revenue  $  71.0  $ 59.3  21%     $  135.8 $ 138.6  (1%)
n/m – not meaningful

LaSalle Investment Management Performance Highlights:

  o$1.8 billion of capital was raised during the quarter, primarily in
    private equity commitments, which will generate growth in assets under
    management and in advisory fees as the capital is invested.
  oAdvisory fees were $55 million for the quarter, which is consistent with
    quarterly averages in local currency for the last 12 to 18 months.
  oOperating expenses were $51 million for the quarter, up 4 percent from
    last year on the increase in operating revenue of 5 percent.
  oAdjusted EBITDA was $20 million for the quarter, a margin of 28.4 percent,
    compared with $11 million in 2012, a margin of 17.8 percent. The
    year-over-year improvement in total segment revenue and EBITDA was driven
    by significant equity earnings recognized in the quarter, reflective of
    positive investment performance for clients.
  oAssets under management were $46.3 billion as of June 30, 2013, compared
    with $47.7 billion at March 31, 2013, with the decrease driven primarily
    by foreign currency movements.

About Jones Lang LaSalle

Jones Lang LaSalle (NYSE: JLL) is a professional services and investment
management firm offering specialized real estate services to clients seeking
increased value by owning, occupying and investing in real estate. With annual
revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more
than 1,000 locations worldwide. On behalf of its clients, the firm provides
management and real estate outsourcing services to a property portfolio of 2.6
billion square feet and completed $63 billion in sales, acquisitions and
finance transactions in 2012. Its investment management business, LaSalle
Investment Management, has $46.3 billion of real estate assets under
management. For further information, visit www.jll.com.

200 East Randolph Drive Chicago Illinois 60601 │ 22 Hanover Square London W1A
2BN │ 9 Raffles Place #39-00 Republic Plaza Singapore 048619

Statements in this press release regarding, among other things, future
financial results and performance, achievements, plans and objectives may be
considered forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements involve known and
unknown risks, uncertainties and other factors which may cause actual results,
performance, achievements, plans and objectives of Jones Lang LaSalle to be
materially different from those expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ materially
include those discussed under "Business," "Management's Discussion and
Analysis of Financial Condition and Results of Operations," "Quantitative and
Qualitative Disclosures about Market Risk," and elsewhere in Jones Lang
LaSalle's Annual Report on Form 10-K for the year ended December 31, 2012, and
in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2013,and
in other reports filed with the Securities and Exchange Commission. Statements
speak only as of the date of this release. Jones Lang LaSalle expressly
disclaims any obligation or undertaking to update or revise any
forward-looking statements contained herein to reflect any change in Jones
Lang LaSalle's expectations or results, or any change in events.

Conference Call

The firm will conduct a conference call for shareholders, analysts and
investment professionals on Tuesday, July 30 at 6:00 p.m. EDT.

To participate in the conference call, please dial into one of the following
phone numbers five to ten minutes before the start time:

U.S. callers:          +1 877 356 3887
International callers: +1 706 679 7364
Pass code:             17566956

Webcast

Follow these steps to listen to the webcast:

1.You must have a minimum 14.4 Kbps Internet connection
2.Log on to http://www.videonewswire.com/event.asp?id=94966 and follow
    instructions
3.Download free Windows Media Player software: (link located under
    registration form)
4.If you experience problems listening, send an email to
    prnwebcast@multivu.com

Supplemental Information

Supplemental information regarding the second-quarter 2013 earnings call has
been posted to the Investor Relations section of the company's website:
www.jll.com.

Conference Call Replay

Available: 11:00 p.m. EDT Tuesday, July 30 through 11:59 p.m. EDT Thursday,
August 8 at the following numbers:

U.S. callers:          + 1 855 859 2056
International callers: + 1 404 537 3406
Pass code:             17566956

Web Audio Replay

Audio replay will be available for download or stream. This information and
link is also available on the company's website: www.jll.com.

If you have any questions, email Jones Lang LaSalle's Investor Relations
department at JLLInvestorRelations@am.jll.com.

JONES LANG LASALLE INCORPORATED
Consolidated Statements of Operations
For the Three and Six Months Ended June 30, 2013 and 2012
(in thousands, except share data)
(Unaudited)
                             Three Months Ended June   Six Months Ended June
                             30,                       30,
                             2013         2012         2013         2012
                             $        $        $          $  
Revenue                                            1,845,371    1,734,635
                             989,383      921,341
Operating expenses:
     Compensation and        634,600      592,928      1,198,320    1,130,444
     benefits
     Operating,
     administrative and      262,185      233,765      512,106      466,361
     other
     Depreciation and        20,174       19,962       39,254       39,621
     amortization
     Restructuring and       6,602        16,604       9,770        25,556
     acquisition charges
              Total
              operating      923,561      863,259      1,759,450    1,661,982
              expenses
              Operating      65,822       58,082       85,921       72,653
              income
Interest expense, net of     (9,049)      (7,459)      (16,972)     (14,885)
interest income
Equity earnings (losses)
from unconsolidated          9,076        (47)         14,558       11,802
ventures
Income before income taxes   65,849       50,576       83,507       69,570
and noncontrolling interest
Provision for income         16,397       12,846       20,794       17,671
taxes
Net income                   49,452       37,730       62,713       51,899
Net income attributable to   2,921        289          3,027        435
noncontrolling interest
Net income attributable      $        $        $        $    
to the Company                                    59,686      51,464
                             46,531       37,441
Net income attributable to   $        $        $        $    
common shareholders                               59,445      51,211
                             46,290       37,188
Basic earnings per common    $        $        $        $    
share                                           1.35      1.17
                             1.05        0.85
Basic weighted average       44,101,006   43,718,678   44,090,942   43,661,976
shares outstanding
Diluted earnings per         $        $        $        $    
common share                                    1.32      1.14
                             1.03        0.83
Diluted weighted average     45,141,341   44,847,350   45,091,245   44,725,914
shares outstanding
                             $        $        $         $   
EBITDA                                          139,733     124,076
                             95,072       77,997
Please reference attached
financial statement notes.

JONES LANG LASALLE INCORPORATED
Segment Operating Results
For the Three and Six Months Ended June 30, 2013 and 2012
(in thousands)
(Unaudited)
                            Three Months Ended     Six Months Ended June
                            June 30,               30,
                            2013       2012         2013          2012
REAL ESTATE SERVICES
 AMERICAS
 Revenue:
                            $      $        $        $     
  Operating revenue                                    
                            431,492   403,172     792,959      744,599
  Equity earnings          73         (258)        291           (208)
  (losses)
  Total segment            431,565    402,914      793,250       744,391
  revenue
  Gross contract           (24,190)   (20,132)     (43,468)      (36,020)
  costs^1
  Total segment fee        407,375    382,782      749,782       708,371
  revenue
 Operating expenses:
  Compensation,
  operating and             384,659    354,356      721,218       674,032
  administrative
  expenses
  Depreciation and         11,547     10,496       22,000        20,380
  amortization
  Total segment            396,206    364,852      743,218       694,412
  operating expenses
  Gross contract           (24,190)   (20,132)     (43,468)      (36,020)
  costs^1
  Total fee-based
  segment operating         372,016    344,720      699,750       658,392
  expenses
                            $      $        $        $     
  Operating income                                   
                            35,359    38,062      50,032       49,979
                            $      $        $        $     
  Adjusted EBITDA                                    
                            46,906    48,558      72,032       70,359
 EMEA
 Revenue:
                            $      $        $        $     
  Operating revenue                                    
                            268,146   254,544     513,051      472,516
  Equity losses           (536)      (85)         (536)         (70)
  Total segment            267,610    254,459      512,515       472,446
  revenue
  Gross contract           (33,519)   (27,958)     (67,725)      (55,659)
  costs^1
  Total segment fee        234,091    226,501      444,790       416,787
  revenue
 Operating expenses:
  Compensation,
  operating and             249,497    235,497      491,022       457,866
  administrative
  expenses
  Depreciation and         5,027      5,683        10,010        11,885
  amortization
  Total segment            254,524    241,180      501,032       469,751
  operating expenses
  Gross contract           (33,519)   (27,958)     (67,725)      (55,659)
  costs^1
  Total fee-based
  segment operating         221,005    213,222      433,307       414,092
  expenses
                            $      $        $        $     
  Operating income                                    
                            13,086    13,279      11,483       2,695
                            $      $        $        $     
  Adjusted EBITDA                                    
                            18,113    18,962      21,493       14,580
 ASIA PACIFIC
 Revenue:
                            $      $        $        $     
  Operating revenue                                    
                            228,443   204,513     418,343      390,876
  Equity (losses)          (124)      62           (9)           114
  earnings
  Total segment            228,319    204,575      418,334       390,990
  revenue
  Gross contract           (23,378)   (21,060)     (45,375)      (45,879)
  costs^1
  Total segment fee        204,941    183,515      372,959       345,111
  revenue
 Operating expenses:
  Compensation,
  operating and             211,848    188,058      396,297       364,418
  administrative
  expenses
  Depreciation and         3,124      3,326        6,252         6,414
  amortization
  Total segment            214,972    191,384      402,549       370,832
  operating expenses
  Gross contract           (23,378)   (21,060)     (45,375)      (45,879)
  costs^1
  Total fee-based
  segment operating         191,594    170,324      357,174       324,953
  expenses
                            $      $        $        $     
  Operating income                                   
                            13,347    13,191      15,785       20,158
                            $      $        $        $     
  Adjusted EBITDA                                    
                            16,471    16,517      22,037       26,572
                            Three Months Ended     Six Months Ended June
                            June 30,               30,
                            2013       2012         2013          2012
LASALLE INVESTMENT
MANAGEMENT
 Revenue:
                            $      $        $        $     
  Operating revenue                                  
                            61,302    59,112      121,018      126,644
  Equity earnings         9,663      234          14,812        11,966
  Total segment            70,965     59,346       135,830       138,610
  revenue
 Operating expenses:
  Compensation,
  operating and             50,781     48,782       101,889       100,488
  administrative
  expenses
  Depreciation and         476        457          992           943
  amortization
  Total segment            51,257     49,239       102,881       101,431
  operating expenses
                            $      $        $        $     
  Operating income                                   
                            19,708    10,107      32,949       37,179
                            $      $        $        $     
  Adjusted EBITDA                                    
                            20,184    10,564      33,941       38,122
SEGMENT RECONCILING
ITEMS:
  Total segment            $      $        $        $     
  revenue                                   1,859,929  
                            998,459   921,294                   1,746,437
  Reclassification of
  equity earnings           9,076      (47)         14,558        11,802
  (losses)
                            $      $        $        $     
   Total revenue                       1,845,371  
                            989,383   921,341                   1,734,635
   Total operating
  expenses before           916,959    846,655      1,749,680     1,636,426
  restructuring charges
   Operating income    $      $        $        $     
  before restructuring                                 
  charges                  72,424    74,686      95,691       98,209
Please reference
attached financial
statement notes.



JONES LANG LASALLE INCORPORATED
Consolidated Balance Sheets
June 30, 2013, December 31, 2012 and June 30, 2012
(in thousands)
                                   June 30,                     June 30,
                                   2013           December 31,  2012
                                   (Unaudited)    2012          (Unaudited)
ASSETS
Current assets:
  Cash and cash equivalents        $        $        $      
                                   121,851         152,159     115,499
  Trade receivables, net of        911,425        996,681       819,946
  allowances
  Notes and other receivables      95,543         101,952       92,663
  Warehouse receivables            98,213         144,257       -
  Prepaid expenses                 64,463         53,165        54,752
  Deferred tax assets, net         53,257         50,831        48,525
  Other                            11,719         16,484        24,081
               Total current       1,356,471      1,515,529     1,155,466
               assets
Property and equipment, net of     252,247        269,338       239,202
accumulated depreciation
Goodwill, with indefinite useful   1,836,981      1,853,761     1,766,978
lives
Identified intangibles, with
finite useful lives, net of        41,342         45,932        45,762
accumulated amortization
Investments in real estate         265,202        268,107       210,799
ventures
Long-term receivables              76,825         58,881        51,212
Deferred tax assets, net           187,811        197,892       197,718
Other                              157,824        142,059       126,934
               Total assets        $          $         $    
                                   4,174,703     4,351,499    3,794,071
LIABILITIES AND EQUITY
Current liabilities:
  Accounts payable and accrued     $        $        $      
  liabilities                      401,052         497,817     365,254
  Accrued compensation            410,032        685,718       393,344
  Short-term borrowings            50,724         32,233        19,598
  Deferred tax liabilities, net    10,113         10,113        6,095
  Deferred income                  79,459         76,152        83,132
  Deferred business acquisition    75,054         105,772       31,611
  obligations
  Warehouse facility               98,213         144,257       -
  Other                            112,553        109,909       92,218
               Total current       1,237,200      1,661,971     991,252
               liabilities
Noncurrent liabilities:
  Credit facilities                479,000        169,000       619,000
  Long-term senior notes           275,000        275,000       -
  Deferred tax liabilities, net    3,106          3,106         7,646
  Deferred compensation            89,370         75,320        67,929
  Pension liabilities              64             5,281         15,348
  Deferred business acquisition    75,550         107,661       246,531
  obligations
  Minority shareholder redemption  19,838         19,489        18,692
  liability
  Other                            62,272         75,415        72,962
               Total liabilities   2,241,400      2,392,243     2,039,360
Company shareholders' equity:
  Common stock, $.01 par value
  per share, 100,000,000 shares
  authorized;
  44,119,690, 44,054,042 and
  43,778,163 shares issued and
  outstanding as of
  June 30, 2013, December 31,
  2012 and June 30, 2012,          441            441           438
  respectively
  Additional paid-in capital       945,675        932,255       927,020
  Retained earnings               1,066,794      1,017,128     869,670
  Shares held in trust             (7,558)        (7,587)       (7,151)
  Accumulated other comprehensive  (78,807)       8,946         (40,090)
  (loss) income
               Total Company
               shareholders'       1,926,545      1,951,183     1,749,887
               equity
  Noncontrolling interest          6,758          8,073         4,824
               Total equity        1,933,303      1,959,256     1,754,711
               Total liabilities   $          $         $    
               and equity          4,174,703     4,351,499    3,794,071
Please reference attached
financial statement notes.



JONES LANG LASALLE INCORPORATED
Summarized Consolidated Statements of Cash Flows
For the Six Months Ended June 30, 2013 and 2012
(in thousands)
(Unaudited)
                                     Six Months Ended June 30,
                                     2013                  2012
Cash used in operating activities    $     (244,558)   $     (122,618)
Cash used in investing activities    (62,761)              (25,898)
Cash provided by financing           277,011               79,561
activities
 Net decrease in cash and     $      (30,308)  (68,955)
cash equivalents
Cash and cash equivalents, beginning 152,159               184,454
of period
Cash and cash equivalents, end of    $      121,851   $     115,499
period
Please reference attached financial
statement notes.

JONES LANG LASALLE INCORPORATED
Financial Statement Notes

1. Consistent with U.S. GAAP ("GAAP"), gross contract vendor and
subcontractor costs ("gross contract costs") which are managed on certain
client assignments in the Property & Facility Management and Project &
Development Services business lines are presented on a gross basis in both
revenue and operating expenses. Gross contract costs are excluded from
revenue and operating expenses in determining "fee revenue" and "fee-based
operating expenses", respectively. Excluding these costs from revenue and
operating expenses more accurately reflects how the firm manages its expense
base and its operating margins. Adjusted operating income excludes the impact
of restructuring and acquisition charges and intangible amortization related
to the King Sturge acquisition. "Adjusted operating income margin" is
calculated by dividing adjusted operating income by fee revenue. Below are
reconciliations of revenue and operating expenses to fee revenue and fee-based
operating expenses, as well as adjusted operating income margin calculations,
for the three and six months ended June 30, 2013, and 2012.



                              Three Months Ended    Six Months Ended
                              June 30,              June 30,
($ in millions)               2013       2012       2013          2012
Revenue                       $ 989.4   $ 921.3   $ 1,845.4    $ 1,734.7
Gross contract costs          (81.1)     (69.1)     (156.6)       (137.6)
Fee revenue                   $ 908.3   $ 852.2   $ 1,688.8    $ 1,597.1
Operating expenses            $ 923.6   $ 863.2   $ 1,759.5    $ 1,662.0
Gross contract costs          (81.1)     (69.1)     (156.6)       (137.6)
Fee-based operating expenses  $ 842.5   $ 794.1   $ 1,602.9    $ 1,524.4
Operating income              $  65.8  $  58.1  $    85.9  $    72.7
Add:
Restructuring and             6.6        16.6       9.8           25.6
acquisition charges
King Sturge intangible        0.6        1.6        1.1           3.8
amortization
Adjusted operating income     $  73.0  $  76.3  $    96.8  $   102.1
Adjusted operating income     8.0%       9.0%       5.7%          6.4%
margin



2. Charges excluded from GAAP net income attributable to common
shareholders to arrive at adjusted net income for the three and six months
ended June 30, 2013, and June 30, 2012, are restructuring and acquisition
charges and intangible amortization related to the recent King Sturge
acquisition. Below are reconciliations of GAAP net income attributable to
common shareholders to adjusted net income and calculations of earnings per
share ("EPS") for each net income total:

                             Three Months Ended            Six Months Ended
                             June 30,                      June 30,
                                           2013    2012    2013      2012
($ in millions, except per share data)
GAAP net income attributable to common
                                           $ 46.3  $ 37.2  $ 59.4    $ 51.2
 shareholders
Shares (in 000s)                           45,141  44,847  45,091    44,726
GAAP diluted earnings per share            $ 1.03  $ 0.83  $ 1.32    $ 1.14
GAAP net income attributable to common
                                           $ 46.3  $ 37.2  $ 59.4    $ 51.2
 shareholders
Restructuring and acquisition charges, net 5.0     12.4    7.4       19.1
Intangible amortization, net               0.4     1.2     0.8       2.8
Adjusted net income                        $ 51.7  $ 50.8  $ 67.6    $ 73.1
Shares (in 000s)                           45,141  44,847  45,091    44,726
Adjusted diluted earnings per share        $ 1.15  $ 1.13  $ 1.50    $ 1.63



3. Adjusted EBITDA represents earnings before interest expense, net of
interest income, income taxes, depreciation and amortization, adjusted for
restructuring and acquisition charges. Although adjusted EBITDA and EBITDA are
non-GAAP financial measures, they are used extensively by management and are
useful to investors and lenders as metrics for evaluating operating
performance and liquidity. EBITDA is used in the calculations of certain
covenants related to the firm's revolving credit facility. However, adjusted
EBITDA and EBITDA should not be considered as an alternative to net income
determined in accordance with GAAP. Because adjusted EBITDA and EBITDA are not
calculated under GAAP, the firm's adjusted EBITDA and EBITDA may not be
comparable to similarly titled measures used by other companies.

Below is a reconciliation of net income to EBITDA and adjusted EBITDA (in
thousands):



                                      Three Months Ended  Six Months Ended
                                      June 30,            June 30,
                                      2013      2012      2013       2012
Net income                            $ 49,452  $ 37,730  $ 62,713   $51,899
Add:
Interest expense, net of interest     9,049     7,459     16,972     14,885
income
Provision for income taxes            16,397    12,846    20,794     17,671
Depreciation and amortization         20,174    19,962    39,254     39,621
EBITDA                                $ 95,072  $ 77,997  $ 139,733  $ 124,076
Add:
Restructuring and acquisition         6,602     16,604    9,770      25,556
charges
Adjusted EBITDA                       $101,674  $ 94,601  $ 149,503  $ 149,632

4. Restructuring and acquisition charges are excluded from segment
operating results, although they are included for consolidated reporting. For
purposes of segment operating results, the allocation of restructuring charges
to the segments has been determined not to be meaningful to investors, so the
performance of segment results has been evaluated without allocation of these
charges.

5. Intangible amortization from the second-quarter 2011 King Sturge
acquisition is included in depreciation and amortization in the firm's
consolidated results, as well as in EMEA's segment results, but has been
excluded from adjusted operating income and adjusted net income.

6. Each geographic region offers the firm's full range of Real Estate
Services businesses consisting primarily of tenant representation and agency
leasing; capital markets; property management and facilities management;
project and development services; and advisory, consulting and valuations
services. The Investment Management segment provides investment management
services to institutional investors and high-net-worth individuals.

7. The consolidated statements of cash flows are presented in summarized
form. For complete consolidated statements of cash flows, please refer to the
firm's Quarterly Report on Form 10-Q for the quarter ended June 30, 2013, to
be filed with the Securities and Exchange Commission shortly.

8. EMEA refers to Europe, Middle East and Africa. MENA refers to Middle
East and North Africa. Greater China includes China, Hong Kong, Macau and
Taiwan. Southeast Asia refers to Singapore, Indonesia, Philippines, Thailand
and Vietnam. The BRIC countries include Brazil, Russia, India and China.

9. Certain prior year amounts have been reclassified to conform to the
current presentation.

10. All percentage variances have been shown as calculated on a local
currency basis.

SOURCE Jones Lang LaSalle Incorporated

Website: http://www.jll.com
Contact: Christie B. Kelly, Global Chief Financial Officer, +1 312 228 2316
 
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