Jones Lang LaSalle (JLL) 10-Q 6 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	Apr. 30, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	Jones Lang LaSalle Incorporated
Entity Central Index Key	0001037976
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		51,630,564
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Entity Incorporation, State or Country Code	MD
Document Period End Date	Mar. 31, 2020
Entity Shell Company	false
Entity Current Reporting Status	Yes

Cover Document

Cover Document	3 Months Ended
	Mar. 31, 2020
Document Information [Line Items]
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Title of 12(b) Security	Common Stock, par value $0.01
Entity File Number	1-13145
Entity Registrant Name	Jones Lang LaSalle Incorporated
Document Type	10-Q
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	36-4150422
Entity Address, Address Line One	200 East Randolph Dr,
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60601
City Area Code	(312)
Local Phone Number	782-5800
Trading Symbol	JLL
Security Exchange Name	NYSE
Entity Shell Company	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity Shell Company	false
Entity Emerging Growth Company	false

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 720.7	$ 451.9
Trade receivables, net of allowances	1,724.7	2,034.3
Notes and other receivables	444	472.8
Accounts Receivable, Reimbursed by Client, Current	1,528.3	1,671.2
Loans Receivable, Gross, Mortgage Warehouse Lending.	1,026.8	527.1
Contract with Customer, Asset, Net, Current	325.8	333.4
Prepaid Expense and Other Assets, Current	427	377.9
Total current assets	6,197.3	5,868.6
Property and equipment, net of accumulated depreciation	678.4	701.9
Operating Lease, Right-of-Use Asset	806.5	804.4
Goodwill	4,104.3	4,168.2
Identified intangibles, net of accumulated amortization	658.7	682.6
Investments in real estate ventures	390.8	404.2
Long-term receivables	255.8	250.2
Deferred Income Tax Assets, Net	232.4	245.4
Deferred Compensation Plan Assets	374.2	349.9
Other	202.4	197.2
Total assets	13,900.8	13,672.6
Current liabilities:
Accounts Payable and Accrued Liabilities, Current	1,096.2	1,289.4
Accounts Payable, Reimbursed by Client, Current	1,053.2	1,245.8
Accrued compensation & benefits	1,044.2	1,729.2
Short-term Debt	125.2	120.1
Short-term contract liabilities and deferred income	152.7	158.8
Business Combination, Contingent Consideration, Liability, Current	68.6	74.4
Warehouse facilities	936.6	515.9
Operating Lease, Liability, Current	154	153.4
Other	356.7	203.2
Total current liabilities	4,987.4	5,490.2
Noncurrent liabilities:
Long-term Line of Credit, Noncurrent, Net of Debt Issuance Costs	1,438.6	512.7
Long-term debt, net of debt issuance costs	656.1	664.6
Deferred Tax Liabilities, Net	87.5	106
Deferred compensation	368.4	374.3
Business Combination, Contingent Consideration, Liability, Noncurrent	106.7	124.1
Operating Lease, Liability, Noncurrent	734.9	751.2
Other	483.7	436.2
Total liabilities	8,863.3	8,459.3
Redeemable Noncontrolling Interest	8.6	8.6
Company shareholders' equity:
Common stock, $.01 par value per share	0.5	0.5
Additional paid-in capital	1,969.6	1,962.8
Retained earnings	3,578.7	3,588.3
Treasury Stock, Value	(25)	0
Shares held in trust	(5.6)	(5.7)
Accumulated Other Comprehensive Income (Loss), Net of Tax	(571.2)	(427.8)
Total Company shareholders' equity	4,947	5,118.1
Noncontrolling interest	81.9	86.6
Total equity	5,028.9	5,204.7
Total liabilities and equity	$ 13,900.8	$ 13,672.6

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Assets
Trade receivables, allowances	$ 69	$ 68.1
Contract with Customer, Asset, Accumulated Allowance for Credit Loss, Current	1.8
Property and equipment, accumulated depreciation	685.6	660.7
Identified intangibles, with finite useful lives, accumulated amortization	236.1	214.8
Investments, Fair Value Disclosure	$ 302	$ 328.6
Company shareholders' equity
Treasury Stock, Common, Shares	187,753
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common Stock, Shares, Issued	51,810,592	51,549,654
Common Stock, Shares, Outstanding	51,622,839	51,549,654
Long-Term Senior Notes [Member]
Line of Credit Facility [Line Items]
Unamortized Debt Issuance Expense	$ 2.9	$ 3.1
Line of Credit [Member]
Line of Credit Facility [Line Items]
Unamortized Debt Issuance Expense	$ 11.4	$ 12.3

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenue Before Reimbursements	$ 2,233	$ 1,961.6
Reimbursement Revenues	1,863	1,859
Revenue	4,096	3,820.6
Operating expenses:
Compensation and benefits	1,324.5	1,163.8
Operating, administrative and other	774.8	707.3
Cost of Reimbursable Expenses	1,863	1,859
Depreciation and amortization	55	46.5
Restructuring and acquisition charges	14.1	18.6
Total operating expenses	4,031.4	3,795.2
Operating Income (Loss)	64.6	25.4
Interest Expense, Net of Interest Income	14.6	9.6
Equity earnings from real estate ventures	(28.3)	5
Other Nonoperating Income (Expense)	0.9	(0.3)
Income before income taxes and noncontrolling interest	22.6	20.5
Provision for income taxes	5	(0.7)
Net income	17.6	21.2
Net income attributable to noncontrolling interest	12.3	(0.1)
Net income attributable to the Company	5.3	21.3
Net income attributable to common shareholders	$ 5.3	$ 21.3
Basic earnings per common share (in dollars per share)	$ 0.10	$ 0.47
Basic weighted average shares outstanding (in shares)	51,612	45,674
Diluted earnings per common share (in dollars per share)	$ 0.10	$ 0.46
Diluted weighted average shares outstanding (in shares)	52,458	46,019
Other comprehensive income:
Net income attributable to the Company	$ 5.3	$ 21.3
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	0	(1)
Foreign currency translation adjustments	(143.4)	31.3
Comprehensive income attributable to the Company	$ (138.1)	$ 51.6

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity (unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Shares Held in Trust [Member]	AOCI Attributable to Parent [Member]	Noncontrolling Interest [Member]
Common Stock, Shares, Issued at Dec. 31, 2018	45,599,418
Balances at Dec. 31, 2018	$ 3,734.5	$ 0.5	$ 1,057.3		$ 3,095.7	$ (5.8)	$ (456.2)	$ 43
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	21.2				21.3			(0.1)
Shares issued under stock compensation programs (in shares)		198,575
Shares issued under stock compensation programs	2		2
Shares repurchased for payment of taxes on stock awards (in shares)		(58,750)
Shares repurchased for payment of taxes on stock awards	(9.7)		(9.7)
Amortization of stock compensation	7		7
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax							1
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	(1)						(1)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax							31.3
Foreign currency translation adjustments	31.3
Distributions to noncontrolling interest	9.8							9.8
Balances at Mar. 31, 2019	$ 3,795.1	$ 0.5	1,056.6		3,117	(5.8)	(425.9)	52.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common Stock, Shares, Outstanding	45,739,243
Treasury Stock, Value	$ 0			$ 0
Common Stock, Shares, Outstanding	51,549,654
Common Stock, Shares, Issued at Dec. 31, 2019	51,549,654
Balances at Dec. 31, 2019	$ 5,204.7	$ 0.5	1,962.8		3,588.3	(5.7)	(427.8)	86.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	17.6				5.3			12.3
Shares issued under stock compensation programs (in shares)		363,308
Shares issued under stock compensation programs	4.4		4.4
Shares repurchased for payment of taxes on stock awards (in shares)		(102,370)
Shares repurchased for payment of taxes on stock awards	(16.2)		(16.2)
Amortization of stock compensation	18.6		18.6
Stock Repurchased During Period, Shares				(187,753)
Treasury Stock, Value, Acquired, Cost Method				$ (25)
(Increase) Decrease In Common Stock Held In Trust	0.1
Cumulative Effect on Retained Earnings, Net of Tax | Accounting Standards Update 2016-13 [Member]	(14.9)				(14.9)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax							0
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	0
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax							(143.4)
Foreign currency translation adjustments	(143.4)
Distributions to noncontrolling interest	$ (17)							(17)
Common Stock, Shares, Issued at Mar. 31, 2020	51,810,592
Balances at Mar. 31, 2020	$ 5,028.9	$ 0.5	$ 1,969.6		$ 3,578.7	$ (5.6)	$ (571.2)	$ 81.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Value	$ (25)			$ (25)
Common Stock, Shares, Outstanding	51,622,839

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows used for operating activities:
Net income	$ 17.6	$ 21.2
Adjustments to reconcile net income to net cash used in operating activities:
Distributions of earnings from real estate ventures	3.6	3
Other adjustment, net	132.2	37.5
Changes in working capital, net	(699.5)	(613.2)
Net cash used in operating activities	(546.1)	(551.5)
Cash flows used in investing activities:
Net capital additions - property and equipment	(44.4)	(44.6)
Net investment activity (less than wholly-owned)	3.2	15.6
Business acquisitions, net of cash acquired	0	(26.7)
Payments to Acquire Interest in Joint Venture	(54)	(11)
Proceeds from Real Estate and Real Estate Joint Ventures	13.4	7.6
Other, net	(2.3)	(0.7)
Net cash used in investing activities	(90.5)	(91)
Cash flows provided by financing activities:
Proceeds from borrowings under credit facility	2,555	1,279
Repayments of borrowings under credit facility	(1,630)	(754.1)
Proceeds from Short-term debt.	6.6	86.3
Payment for Contingent Consideration Liability, Financing Activities	(9.8)	(24.5)
Payments for Repurchase of Common Stock	25	0
Other, net	(13.5)	6.1
Net cash provided by financing activities	883.3	592.8
Effect of currency exchange rate on Cash and Cash Equivalents	(21.1)	0.7
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	225.6	(49)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	652.1	634.2
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	877.7	585.2
Supplemental disclosure of cash flow information:
Restricted Cash, beginning of period	200.2	153.3
Restricted Cash, end of period	157	195.7
Interest Paid, Excluding Capitalized Interest, Operating Activities	9.3	4.3
Cash paid during the period for:
Income taxes, net of refunds	(44.4)	(37.5)
Operating Lease, Payments	47.1	41.1
Non-cash activities
Business acquisitions, including contingent consideration	0	1.5
Deferred business acquisition obligations	$ 0	$ 6.5

Interim Information

Interim Information	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interim Information	1. INTERIM INFORMATION Readers of this quarterly report should refer to the audited financial statements of Jones Lang LaSalle Incorporated ("JLL," which may also be referred to as "the Company" or as "we," "us" or "our") for the year ended December 31, 2019 , which are included in our 2019 Annual Report on Form 10-K, filed with the United States Securities and Exchange Commission ("SEC") and also available on our website ( www.us.jll.com ), since we have omitted from this quarterly report certain footnote disclosures which would substantially duplicate those contained in such audited financial statements. You should also refer to the "Summary of Critical Accounting Policies and Estimates" section within Item 7. Management's Discussion and Analysis of Financial Condition and Result of Operations and to Note 2, Summary of Significant Accounting Policies, in the Notes to Consolidated Financial Statements in our 2019 Annual Report on Form 10-K for further discussion of our significant accounting policies and estimates. Our Condensed Consolidated Financial Statements as of March 31, 2020 , and for the three months ended March 31, 2020 and 2019 , are unaudited. In the opinion of management, we have included all adjustments (consisting solely of normal recurring adjustments) necessary for a fair presentation of the Condensed Consolidated Financial Statements for these interim periods. Historically, our quarterly revenue and profits have tended to increase from quarter to quarter as the year progresses. This is the result of a general focus in the real estate industry on completing transactions by calendar year end, while certain expenses are recognized evenly throughout the year. Our LaSalle Investment Management ("LaSalle") segment generally earns investment-generated performance fees on clients' real estate investment returns when assets are sold, the timing of which is geared toward the benefit of our clients, as well as co-investment equity gains and losses, primarily dependent on underlying valuations. Within our Real Estate Services ("RES") segments, revenue from transaction-based activities (e.g. leasing and capital markets) is driven by the size and timing of our clients' transactions and can fluctuate significantly from period to period. A significant portion of our compensation and benefits expense is from incentive compensation plans, which we generally accrue throughout the year based on progress toward annual performance targets. This process can result in significant fluctuations in quarterly compensation and benefits expense from period to period. Non-variable operating expenses, which we recognize when incurred during the year, are relatively constant on a quarterly basis. We provide for the effects of income taxes on interim financial statements based on our estimate of the effective tax rate for the full year, which we base on forecasted income by country and expected enacted tax rates; as required, we adjust for the impact of discrete items in the quarters in which they occur. Changes in the geographic mix of income, including as a result of the COVID-19 pandemic, can impact our estimated effective tax rate. As a result of the items mentioned above, the results for the periods ended March 31 are not fully indicative of what our results will be for the full fiscal year.

New Accounting Standards New Ac

New Accounting Standards New Accounting Standards	3 Months Ended
	Mar. 31, 2020
Text Block [Abstract]
New Accounting Standards	2. NEW ACCOUNTING STANDARDS Recently adopted accounting guidance In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses (ASC Topic 326) , which created a new framework to evaluate financial instruments, such as trade receivables, for expected credit losses. This new framework replaced the existing incurred loss approach and is expected to result in more timely recognition of credit losses. On January 1, 2020, we adopted ASU No. 2016-13 using a modified-retrospective approach, as required by the ASU. The adoption impacted our methodology of reserving for (i) Trade receivables, (ii) other receivable-related financial assets, specifically contract assets, and (iii) off-balance sheet credit exposures within the scope of this ASU. Specifically, we evaluated our historical reserve balances for Trade receivables and the related write-off activity and developed a forward-looking process for adoption. We also evaluated our loss-sharing guarantee obligation for certain mortgage loans we originate, sell and retain the servicing rights. The following sections discuss our updated reserve methodologies. Trade Receivables We estimate an allowance to provide for uncollectible accounts receivable, which is applied upon recognition of the receivable. We base this estimate on historical experience combined with a review of the receivable aging, current and expected economic conditions, and client credit quality. The estimate also includes specifically identified amounts for which payment has become unlikely. For receivables with lives of less than one year, changes to economic conditions are not expected to have a significant impact on our estimate of expected credit losses. However, we will monitor economic conditions on a quarterly basis to determine if any adjustments are deemed necessary. Notes and Other Receivables and Long-Term Receivables We make ongoing assessments of the collectability of outstanding Notes and other receivables and Long-term receivables, considering both objective and subjective factors such as the age profile of outstanding balances, the contractual terms of repayment, and credit quality. Aspects of credit quality considered in our assessments of collectability include historical experience, current and expected economic conditions, and our broader business relationship with the obligor. We record an allowance against the outstanding balance when our assessments determine payment has become unlikely. After all collection efforts have been exhausted by management, the outstanding balance is written off against the reserve. Historically, credit quality deterioration to the point of impairment or non-performance in our Notes and other receivables and Long-term receivables has been limited and has not had a material impact on the Condensed Consolidated Financial Statements. Reimbursable Receivables We record an allowance based on specific identification of an uncollectible reimbursable receivable, considering current and future economic conditions as well as client credit quality. Historically, we have not experienced any material collection issues and, as such, have not applied a formulaic reserve to these receivables. Contract Assets Contract assets include amounts recognized as revenue for which we are not yet entitled to payment for reasons other than the passage of time, but that do not constrain revenue recognition. Historically, we have not recognized a provision for contract assets. Under ASC Topic 326, we include Contract assets in our reserving process and assess the risk of loss similar to our methodology for Trade receivables, since Contract assets are reclassified to Trade receivables when we become entitled to payment. Accordingly, a reserve is applied upon recognition of the contract asset. Financial Guarantees Certain loans we originate and sell under the Fannie Mae Delegated Underwriting and Servicing (“DUS”) program retain a percentage of the risk of loss. This loss-sharing aspect of the program represents an off-balance sheet credit exposure, and we have established a contingent reserve ("loan loss guarantee reserve") for this risk in accordance with ASC Topic 326. To estimate the reserve, we use a model that analyzes historical losses, current and expected economic conditions, and reasonable and supportable forecasts. The model also considers specific details of the underlying property used as collateral, such as occupancy and financial performance. The loan loss guarantee reserve is calculated on an individual loan level. For the period ended March 31, 2020, the inputs to the model incorporated specific economic conditions related to the COVID-19 pandemic that resulted in a notable increase to our loan loss guarantee reserve. As of March 31, 2020, the loan loss guarantee reserve was $45.7 million and was included within Other liabilities on the Condensed Consolidated Balance Sheets. The loss-sharing guarantee obligation (in accordance with ASC Topic 460, Guarantees ) represents the non-contingent obligation incurred as a result of issuing a loss-sharing guarantee as part of our participation in the DUS program and is separate from the loan loss guarantee reserve discussed above. See Note 10, Commitments and Contingencies , for further information on the DUS program and the loss-sharing guarantee obligation. The following table details the cumulative impact to retained earnings upon adoption of ASC Topic 326. Published Adjustment due to As Reported Under December 31, 2019 adoption of ASC Topic 326 on January 1, 2020 (in millions) (audited) ASC Topic 326 (unaudited) Assets Allowance for trade receivables $ (68.1 ) (3.6 ) $ (71.7 ) Deferred tax assets, net 245.4 5.5 250.9 Allowance for contract assets (1) — (1.7 ) (1.7 ) Liabilities and equity Loan loss guarantee reserve (2) $ — 15.1 $ 15.1 Retained earnings 3,588.3 (14.9 ) 3,573.4 1 The portion of the allowance for long-term contract assets is included within Other assets on the Condensed Consolidated Balance Sheets. 2 Included within Other liabilities on the Condensed Consolidated Balance Sheets

Revenue Recognition Revenue Rec

Revenue Recognition Revenue Recognition (Notes)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	3. REVENUE RECOGNITION Revenue excluded from the scope of ASC Topic 606 - Our mortgage banking and servicing operations - such as Mortgage Servicing Rights ("MSR")-related activity, loan origination fees, and servicing income - are excluded from the scope of ASC Topic 606. Such revenue was included entirely within Americas Capital Markets and is presented below. Three months Ended March 31, (in millions) 2020 2019 Revenue excluded from scope of ASC Topic 606 $ 49.3 31.0 Contract assets - As of March 31, 2020 and December 31, 2019 , we had $414.7 million and $419.3 million of contract assets, net of allowance, respectively, which are included in Short-term contract assets and Other assets on the Condensed Consolidated Balance Sheets. Contract liabilities - As of March 31, 2020 and December 31, 2019 , we had $88.4 million and $87.7 million of contract liabilities, respectively, which are included in Short-term contract liabilities and deferred income on our Condensed Consolidated Balance Sheets. The majority of contract liabilities are recognized as revenue within 90 days. Remaining performance obligations - Remaining performance obligations represent the aggregate transaction price for contracts where our performance obligations have not yet been satisfied. As of March 31, 2020 , the aggregate amount of transaction price allocated to remaining performance obligations represented less than 5% of our total revenue. In accordance with ASC Topic 606, excluded from the aforementioned remaining performance obligations are (i) amounts attributable to contracts expected to be completed within 12 months and (ii) variable consideration for services performed as a series of daily performance obligations, such as facilities management, property management, and LaSalle contracts. Contracts within these businesses represent a significant portion of our contracts with customers not expected to be completed within 12 months.

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Business Segments	4. BUSINESS SEGMENTS We manage and report our operations as four business segments: The three geographic regions of RES including: (1) Americas, (2) Europe, Middle East and Africa ("EMEA"), and (3) Asia Pacific; and (4) LaSalle. Each geographic region offers our full range of real estate services, including agency leasing and tenant representation, capital markets, property and facility management, project and development management, energy management and sustainability, construction management, and advisory, consulting and valuation services. LaSalle provides investment management services on a global basis to institutional investors and high-net-worth individuals. Operating income represents total revenue less direct and allocated indirect expenses. We allocate all indirect expenses to our segments, other than interest and income taxes, as nearly all expenses incurred benefit one or more of the segments. Allocated expenses primarily consist of corporate global overhead, which we allocate to the business segments based on the budgeted operating expenses of each segment. For segment reporting, (a) gross contract costs and (b) net non-cash MSR and mortgage banking derivative activity are both excluded from revenue in determining "fee revenue". Gross contract costs are excluded from operating expenses in determining "fee-based operating expenses". Excluding these costs from revenue and expenses results in a net presentation which we believe more accurately reflects how we manage our expense base, operating margins, and performance. Refer to Results of Operations, included in Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations, for a full description of gross contract costs. In addition, our measure of segment results excludes Restructuring and acquisition charges. The Chief Operating Decision Maker of JLL measures and evaluates the segment results excluding (a) gross contract costs, (b) net non-cash MSR and mortgage banking derivative activity, and (c) Restructuring and acquisition charges. As of March 31, 2020 , we define the Chief Operating Decision Maker collectively as our Global Executive Board, which comprises the following: • Chief Executive Officer and President • Chief Executive Officers of each of our four business segments • Chief Financial Officer • Chief Executive Officer of Corporate Solutions • Chief Administrative Officer • Chief Executive Officer of Capital Markets • Co-Chief Executive Officers of JLL Technologies Summarized financial information by business segment is as follows. Three Months Ended March 31, (in millions) 2020 2019 Americas - Real Estate Services Leasing $ 418.9 389.8 Capital Markets 247.4 100.1 Property & Facility Management 1,458.8 1,362.0 Project & Development Services 306.4 308.7 Advisory, Consulting and Other 91.6 89.5 Revenue 2,523.1 2,250.1 Reimbursements (1,393.5 ) (1,351.4 ) Revenue before reimbursements 1,129.6 898.7 Gross contract costs (212.8 ) (187.7 ) Net non-cash MSR and mortgage banking derivative activity 1.6 0.1 Fee revenue 918.4 711.1 Operating expenses, excluding reimbursed expenses: Compensation, operating and administrative expenses 1,010.3 810.8 Depreciation and amortization 37.4 27.3 Segment operating expenses, excluding reimbursed expenses 1,047.7 838.1 Gross contract costs (212.8 ) (187.7 ) Fee-based segment operating expenses 834.9 650.4 Segment operating income $ 81.9 60.6 Equity earnings (losses) 12.7 (0.3 ) Segment income $ 94.6 60.3 EMEA - Real Estate Services Leasing $ 48.1 52.2 Capital Markets 73.2 64.0 Property & Facility Management 375.0 369.3 Project & Development Services 203.2 180.5 Advisory, Consulting and Other 56.4 57.4 Revenue 755.9 723.4 Reimbursements (182.8 ) (164.6 ) Revenue before reimbursements 573.1 558.8 Gross contract costs (262.6 ) (242.7 ) Fee revenue 310.5 316.1 Operating expenses, excluding reimbursed expenses: Compensation, operating and administrative expenses 584.4 576.9 Depreciation and amortization 9.2 11.3 Segment operating expenses, excluding reimbursed expenses 593.6 588.2 Gross contract costs (262.6 ) (242.7 ) Fee-based segment operating expenses 331.0 345.5 Segment operating loss $ (20.5 ) (29.4 ) Equity earnings — 0.1 Segment loss $ (20.5 ) (29.3 ) Continued: Summarized financial information by business segment is as follows. Three Months Ended March 31, (in millions) 2020 2019 Asia Pacific - Real Estate Services Leasing $ 25.4 35.9 Capital Markets 21.7 29.4 Property & Facility Management 532.0 537.8 Project & Development Services 94.8 110.9 Advisory, Consulting and Other 38.2 34.7 Revenue 712.1 748.7 Reimbursements (284.9 ) (341.1 ) Revenue before reimbursements 427.2 407.6 Gross contract costs (249.5 ) (209.4 ) Fee revenue 177.7 198.2 Operating expenses, excluding reimbursed expenses: Compensation, operating and administrative expenses 417.5 400.5 Depreciation and amortization 6.6 6.4 Segment operating expenses, excluding reimbursed expenses 424.1 406.9 Gross contract costs (249.5 ) (209.4 ) Fee-based segment operating expenses 174.6 197.5 Segment operating income $ 3.1 0.7 Equity (losses) earnings (0.7 ) 0.3 Segment income $ 2.4 1.0 LaSalle Advisory fees $ 85.6 77.6 Transaction fees & other 13.6 13.2 Incentive fees 5.7 7.6 Revenue 104.9 98.4 Reimbursements (1.8 ) (1.9 ) Revenue before reimbursements 103.1 96.5 Gross contract costs (4.5 ) (2.8 ) Fee revenue 98.6 93.7 Operating expenses, excluding reimbursed expenses: Compensation, operating and administrative expenses 87.1 82.9 Depreciation and amortization 1.8 1.5 Segment operating expenses, excluding reimbursed expenses 88.9 84.4 Gross contract costs (4.5 ) (2.8 ) Fee-based segment operating expenses 84.4 81.6 Segment operating income $ 14.2 12.1 Equity (losses) earnings (40.3 ) 4.9 Segment (loss) income $ (26.1 ) 17.0 Three Months Ended March 31, (in millions) 2020 2019 Segment Reconciling Items Fee revenue $ 1,505.2 1,319.1 Gross contract costs 729.4 642.6 Net non-cash MSR and mortgage banking derivative activity (1.6 ) (0.1 ) Revenue before reimbursements 2,233.0 1,961.6 Reimbursements 1,863.0 1,859.0 Revenue $ 4,096.0 3,820.6 Total segment operating expenses, excluding reimbursed expenses & before restructuring and acquisition charges $ 2,154.3 1,917.6 Reimbursed expenses 1,863.0 1,859.0 Total segment operating expenses before restructuring and acquisition charges $ 4,017.3 3,776.6 Operating income before restructuring and acquisition charges $ 78.7 44.0 Less: Restructuring and acquisition charges 14.1 18.6 Operating income $ 64.6 25.4

Business Combinations, Goodwill

Business Combinations, Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2020
BUSINESS COMBINATIONS, GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]
Business Combinations, Goodwill and Other Intangible Assets	5. BUSINESS COMBINATIONS, GOODWILL AND OTHER INTANGIBLE ASSETS 2020 Business Combinations Activity During the three months ended March 31, 2020 , we completed no new acquisitions and paid $12.9 million for deferred business acquisition and earn-out obligations for acquisitions completed in prior years. 2019 Business Combination Activity During the three months ended March 31, 2020 , we made no adjustments to our preliminary allocation of the purchase consideration for certain acquisitions completed in 2019. As of March 31, 2020 , we have completed our analysis to assign fair values to all the identifiable intangible and tangible assets acquired for our 2019 acquisitions, with the exception of tax-related accounts with respect to our acquisition of HFF, Inc. Earn-Out Payments ($ in millions) March 31, 2020 December 31, 2019 Number of acquisitions with earn-out payments subject to the achievement of certain performance criteria 44 44 Maximum earn-out payments (undiscounted) $ 254.0 $ 268.9 Short-term earn-out liabilities (fair value) 1 48.8 53.9 Long-term earn-out liabilities (fair value) 1 81.2 94.5 1 Included in Short-term and Long-term acquisition-related obligations on the Condensed Consolidated Balance Sheets. Assuming the achievement of the applicable performance criteria, we anticipate making these earn-out payments over the next five years. Refer to Note 8, Fair Value Measurements , and Note 11, Restructuring and Acquisition Charges , for additional discussion of our earn-out liabilities. Goodwill and Other Intangible Assets Goodwill and unamortized intangibles as of March 31, 2020 consisted of: (1) goodwill of $4,104.3 million , (2) identifiable intangibles of $608.7 million amortized over their remaining finite useful lives, and (3) $50.0 million of identifiable intangibles with indefinite useful lives that are not amortized. Notable portions of our goodwill and unamortized intangibles are denominated in currencies other than the U.S. dollar, which means a portion of the movements in the reported book value of these balances is attributable to movements in foreign currency exchange rates. The following tables detail, by reporting segment, movements in goodwill. Real Estate Services (in millions) Americas EMEA Asia Pacific LaSalle Consolidated Balance as of December 31, 2019 $ 2,877.6 915.9 317.6 57.1 $ 4,168.2 Impact of exchange rate movements (2.9 ) (46.6 ) (13.4 ) (1.0 ) (63.9 ) Balance as of March 31, 2020 $ 2,874.7 869.3 304.2 56.1 $ 4,104.3 Real Estate Services (in millions) Americas EMEA Asia Pacific LaSalle Consolidated Balance as of December 31, 2018 $ 1,452.0 906.8 316.8 22.2 $ 2,697.8 Additions, net of adjustments 3.0 — — 32.8 35.8 Impact of exchange rate movements 0.6 3.9 0.7 (0.5 ) 4.7 Balance as of March 31, 2019 $ 1,455.6 910.7 317.5 54.5 $ 2,738.3 The following tables detail, by reporting segment, movements in the gross carrying amount and accumulated amortization of our identifiable intangibles. MSRs Other Intangibles (in millions) Americas Americas EMEA Asia Pacific LaSalle Consolidated Gross Carrying Amount Balance as of December 31, 2019 $ 480.4 285.7 55.9 21.4 54.0 $ 897.4 Additions, net of adjustments (1) 16.9 — — 0.5 — 17.4 Adjustment for fully amortized intangibles (12.7 ) — (0.2 ) — — (12.9 ) Impact of exchange rate movements — (0.5 ) (3.4 ) (2.1 ) (1.1 ) (7.1 ) Balance as of March 31, 2020 $ 484.6 285.2 52.3 19.8 52.9 $ 894.8 Accumulated Amortization Balance as of December 31, 2019 $ (104.0 ) (68.3 ) (33.1 ) (6.7 ) (2.7 ) $ (214.8 ) Amortization, net (2) (22.6 ) (11.6 ) (1.8 ) (0.4 ) (0.7 ) (37.1 ) Adjustment for fully amortized intangibles 12.7 — 0.2 — — 12.9 Impact of exchange rate movements — 0.2 2.1 0.5 0.1 2.9 Balance as of March 31, 2020 $ (113.9 ) (79.7 ) (32.6 ) (6.6 ) (3.3 ) $ (236.1 ) Net book value as of March 31, 2020 $ 370.7 205.5 19.7 13.2 49.6 $ 658.7 (1) Included in this amount for MSRs was $5.9 million relating to prepayments/write-offs due to prepayments of the underlying obligation for which we assumed, acquired or retained the servicing rights. (2) Amortization of MSRs is included in Revenue before reimbursements within the Condensed Consolidated Statements of Comprehensive Income. MSRs Other Intangibles (in millions) Americas Americas EMEA Asia Pacific LaSalle Consolidated Gross Carrying Amount Balance as of December 31, 2018 $ 266.2 90.0 83.1 23.5 43.9 $ 506.7 Additions, net of adjustments (1) 8.1 0.9 — — 9.2 18.2 Adjustment for fully amortized intangibles (4.4 ) — — — — (4.4 ) Impact of exchange rate movements — 0.1 1.0 0.2 — 1.3 Balance as of March 31, 2019 $ 269.9 91.0 84.1 23.7 53.1 $ 521.8 Accumulated Amortization Balance as of December 31, 2018 $ (72.4 ) (38.8 ) (51.8 ) (6.8 ) — $ (169.8 ) Amortization, net (2) (9.7 ) (3.6 ) (2.7 ) (0.6 ) (0.7 ) (17.3 ) Adjustment for fully amortized intangibles 4.4 — — — — 4.4 Impact of exchange rate movements — — (0.4 ) — — (0.4 ) Balance as of March 31, 2019 $ (77.7 ) (42.4 ) (54.9 ) (7.4 ) (0.7 ) $ (183.1 ) Net book value as of March 31, 2019 $ 192.2 48.6 29.2 16.3 52.4 $ 338.7 (1) Included in this amount for MSRs was $1.9 million relating to prepayments/write-offs due to prepayments of the underlying obligation for which we assumed, acquired or retained the servicing rights. (2) Amortization of MSRs is included in Revenue before reimbursements within the Condensed Consolidated Statements of Comprehensive Income. The remaining estimated future amortization expense of MSRs and other identifiable intangible assets, by year, as of March 31, 2020 , is presented in the following table. (in millions) MSRs Other Intangibles Total 2020 (remaining 9 months) $ 49.1 40.9 $ 90.0 2021 62.1 48.6 110.7 2022 54.6 42.9 97.5 2023 47.6 40.5 88.1 2024 40.0 36.2 76.2 2025 32.5 18.9 51.4 Thereafter 84.8 10.0 94.8 Total $ 370.7 238.0 $ 608.7

Investments in Real Estate Vent

Investments in Real Estate Ventures	3 Months Ended
	Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Investments in Real Estate Ventures	6. INVESTMENTS IN REAL ESTATE VENTURES As of March 31, 2020 and December 31, 2019 , we had Investments in real estate ventures of $390.8 million and $404.2 million , respectively. Approximately 85% of our investments, as of March 31, 2020 , are in 46 separate property or commingled funds, where we co-invest alongside our clients and for which we also have an advisory agreement. These also include investments by JLL Spark in property-technology funds and early-stage companies. The remaining 15% of our Investments in real estate ventures, as of March 31, 2020 , were attributable to investment vehicles that use our capital and outside capital primarily provided by institutional investors to invest, primarily, in certain real estate ventures that own and operate real estate. Of our investments attributable to investment vehicles, the majority was invested in LaSalle Investment Company II ("LIC II"), in which we held an effective ownership interest of 48.78% . We have maximum potential unfunded commitments to direct investments or investment vehicles of $309.0 million as of March 31, 2020 . Of this amount, $60.4 million relates to our investment in LIC II, whose fund life terminated in January 2020. We evaluate our less-than-wholly-owned investments to determine whether the underlying entities are classified as variable interest entities ("VIEs"); we assess each identified VIE to determine whether we are the primary beneficiary. We have determined that we are the primary beneficiary of certain VIEs and accordingly, we have consolidated such entities. The assets of the consolidated VIEs are available only for the settlement of the obligations of the respective entities and the mortgage loans of the consolidated VIEs are non-recourse to JLL. Summarized financial information for our consolidated VIEs is presented in the following tables. (in millions) March 31, 2020 December 31, 2019 Property and equipment, net $ 128.3 126.3 Investments in real estate ventures 8.8 13.2 Other assets 12.5 14.3 Total assets $ 149.6 153.8 Other current liabilities $ 3.5 3.2 Mortgage indebtedness (included in Other liabilities) 69.7 69.7 Total liabilities 73.2 72.9 Members' equity (included in Noncontrolling interest) 76.4 80.9 Total liabilities and members' equity $ 149.6 153.8 Three Months Ended March 31, (in millions) 2020 2019 Revenue $ 4.3 1.3 Operating and other expenses (4.3 ) (1.6 ) Net gains on sale of investments (included in Equity earnings) 12.2 — Net income (loss) $ 12.2 (0.3 ) We allocate the members' equity and net income of the consolidated VIEs to the noncontrolling interest holders as Noncontrolling interest on our Condensed Consolidated Balance Sheets and as Net income attributable to noncontrolling interest in our Condensed Consolidated Statements of Comprehensive Income, respectively. Impairment There were no significant other-than-temporary impairment charges on Investments in real estate ventures for the three months ended March 31, 2020 and 2019 . Fair Value We report a majority of our investments in real estate ventures at fair value. For such investments, we increase or decrease our investment each reporting period by the change in the fair value and we report these fair value adjustments in our Condensed Consolidated Statements of Comprehensive Income within Equity earnings. The table below shows the movement in our investments in real estate ventures reported at fair value. (in millions) 2020 2019 Fair value investments as of January 1, $ 328.6 247.3 Investments 28.9 10.5 Distributions (16.0 ) (2.8 ) Change in fair value (35.2 ) 4.3 Foreign currency translation adjustments, net (4.3 ) 0.3 Fair value investments as of March 31, $ 302.0 259.6 See Note 8, Fair Value Measurements , for additional discussion of our investments in real estate ventures reported at fair value.

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	7. STOCK-BASED COMPENSATION Stock Unit Awards Restricted stock unit ("RSU") and performance stock unit ("PSU") awards activity is presented in the following tables. RSU Shares PSU Shares Total Shares Weighted Average Weighted Average Remaining (in years) Unvested as of December 31, 2019 1,532.3 286.8 1,819.1 $ 141.51 2.39 Granted 9.7 — 9.7 160.03 Vested (324.6 ) — (324.6 ) 136.91 Forfeited (8.5 ) — (8.5 ) 137.68 Unvested as of March 31, 2020 1,208.9 286.8 1,495.7 $ 144.71 1.78 Unvested as of December 31, 2018 559.6 93.1 652.7 $ 131.32 2.02 Granted 74.7 — 74.7 152.84 Vested (195.5 ) — (195.5 ) 114.79 Forfeited (4.5 ) (0.4 ) (4.9 ) 126.70 Unvested as of March 31, 2019 434.3 92.7 527.0 $ 140.55 2.15 During the three months ended March 31, 2020, we recognized a $5.5 million expense reversal to reflect our revised estimate of PSU achievement in response to the anticipated impact of the COVID-19 pandemic. As of March 31, 2020 , we had $107.2 million of unamortized deferred compensation related to unvested RSUs and PSUs, which we anticipate recognizing over varying periods into 2024 ; $66.9 million relates to the awards issued in conjunction with the HFF acquisition.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	8. FAIR VALUE MEASUREMENTS We measure certain assets and liabilities in accordance with ASC 820, Fair Value Measurements and Disclosures , which defines fair value as the price that would be received for an asset, or paid to transfer a liability, in an orderly transaction between market participants on the measurement date. In addition, it establishes a framework for measuring fair value according to the following three-tier fair value hierarchy: • Level 1 - Quoted prices for identical assets or liabilities in active markets accessible as of the measurement date; • Level 2 - Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and • Level 3 - Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. Financial Instruments Our financial instruments include Cash and cash equivalents, Trade receivables, Notes and other receivables, Reimbursable receivables, Warehouse receivables, restricted cash, contract assets, Accounts payable, Reimbursable payables, Short-term borrowings, contract liabilities, Warehouse facilities, Credit facility, Long-term debt, and foreign currency forward contracts. The carrying amounts of Cash and cash equivalents, Trade receivables, Notes and other receivables, Reimbursable receivables, restricted cash, contract assets, Accounts payable, Reimbursable payables, contract liabilities, and the Warehouse facilities approximate their estimated fair values due to the short-term nature of these instruments. The carrying values of our Credit facility and Short-term borrowings approximate their estimated fair values given the variable interest rate terms and market spreads. We estimated the fair value of our Long-term debt as $595.5 million and $685.9 million as of March 31, 2020 and December 31, 2019 , respectively, using dealer quotes that are Level 2 inputs in the fair value hierarchy. The carrying value of our Long-term debt was $656.1 million and $664.6 million as of March 31, 2020 and December 31, 2019 , respectively, and included debt issuance costs of $2.9 million and $3.1 million , respectively. Investments in Real Estate Ventures at Fair Value - Net Asset Value ("NAV") We report a significant portion of our investments in real estate ventures at fair value. For such investments, we increase or decrease our investment each reporting period by the change in the fair value and we report these fair value adjustments in our Condensed Consolidated Statements of Comprehensive Income within Equity earnings. For the majority of our investments reported at fair value, we estimate the fair value using the NAV per share (or its equivalent) our investees provide. Critical inputs to NAV estimates included valuations of the underlying real estate assets and borrowings, which incorporate investment-specific assumptions such as discount rates, capitalization rates, rental and expense growth rates, and asset-specific market borrowing rates. As a result of the changes in market conditions from the COVID-19 pandemic, which occurred following the measurement dates used by investees to calculate NAV per share, we recognized a $36.3 million decrease in aggregate to the reported NAV per share for the three months ended March 31, 2020. As of March 31, 2020 and December 31, 2019 , investments in real estate ventures at fair value using NAV were $197.4 million and $224.8 million , respectively. As these investments are not required to be classified in the fair value hierarchy, they have been excluded from the following table. Recurring Fair Value Measurements The following table categorizes by level in the fair value hierarchy the estimated fair value of our assets and liabilities measured at fair value on a recurring basis. March 31, 2020 December 31, 2019 (in millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Investments in real estate ventures - fair value $ 63.2 — 41.4 69.4 — 34.4 Foreign currency forward contracts receivable — 6.1 — — 10.5 — Warehouse receivables — 1,026.8 — — 527.1 — Deferred compensation plan assets — 374.2 — — 349.9 — Mortgage banking derivative assets — — 118.2 — — 36.1 Total assets at fair value $ 63.2 1,407.1 159.6 69.4 887.5 70.5 Liabilities Foreign currency forward contracts payable $ — 6.2 — — 4.4 — Deferred compensation plan liabilities — 348.4 — — 346.1 — Earn-out liabilities — — 130.0 — — 148.5 Mortgage banking derivative liabilities — — 182.2 — — 25.9 Total liabilities at fair value $ — 354.6 312.2 — 350.5 174.4 Investments in Real Estate Ventures We classify one investment as Level 1 in the fair value hierarchy as a quoted price is readily available. We increase or decrease our investment each reporting period by the change in the fair value of the investment. We report these fair value adjustments in our Condensed Consolidated Statements of Comprehensive Income within Equity earnings. Investments classified as Level 3 in the fair value hierarchy represent investments in early-stage non-public entities where we elected the fair value option. Generally, the carrying value is deemed to approximate the fair value of these investments due to the proximity of the investment date to the balance sheet date as well as investee-level performance updates. Foreign Currency Forward Contracts We regularly use foreign currency forward contracts to manage our currency exchange rate risk related to intercompany lending and cash management practices. We determine the fair values of these contracts based on current market rates. The inputs for these valuations are Level 2 inputs in the fair value hierarchy. As of March 31, 2020 and December 31, 2019 , these contracts had a gross notional value of $1.80 billion ( $0.84 billion on a net basis) and $2.30 billion ( $1.05 billion on a net basis), respectively. We recognize gains and losses from revaluation of these contracts as a component of Operating, administrative and other expense. They are offset by the gains and losses we recognize on the revaluation of intercompany loans and other foreign currency balances. The impact to net income was not significant for the three months ended March 31, 2020 or 2019 . We record the asset and liability positions for our foreign currency forward contracts based on the net payable or net receivable position with the financial institutions from which we purchase these contracts. The $6.1 million asset as of March 31, 2020 , was composed of gross contracts with receivable positions of $7.3 million and payable positions of $1.2 million . The $6.2 million liability as of March 31, 2020 , was composed of gross contracts with receivable positions of $2.1 million and payable positions of $8.3 million . As of December 31, 2019 , the $10.5 million asset was composed of gross contracts with receivable positions of $10.6 million and payable positions of $0.1 million . The $4.4 million liability as of December 31, 2019 , was composed of gross contracts with receivable positions of $0.8 million and payable positions of $5.2 million . Warehouse Receivables As of March 31, 2020 and December 31, 2019 , all of our Warehouse receivables were under commitment to be purchased by government-sponsored enterprises ("GSEs") or by a qualifying investor as part of a U.S. government or GSE mortgage-backed security program. Deferred Compensation Plan We maintain a deferred compensation plan for certain of our U.S. employees that allows them to defer portions of their compensation. We recorded this plan on our Condensed Consolidated Balance Sheet as of March 31, 2020 , as Deferred compensation plan assets of $374.2 million , long-term deferred compensation plan liabilities of $348.4 million , included in Deferred compensation, and as a reduction of equity, Shares held in trust, of $5.6 million . We recorded this plan on our Condensed Consolidated Balance Sheet as of December 31, 2019 , as Deferred compensation plan assets of $349.9 million , long-term deferred compensation plan liabilities of $346.1 million , included in Deferred compensation, and as a reduction of equity, Shares held in trust, of $5.7 million . Earn-Out Liabilities We classify our earn-out liabilities within Level 3 in the fair value hierarchy because the inputs we use to develop the estimated fair value include unobservable inputs. See Note 5, Business Combinations, Goodwill and Other Intangible Assets , for additional discussion of our earn-out liabilities. Mortgage Banking Derivatives Both our interest rate lock commitments to prospective borrowers and forward sale contracts with prospective investors are undesignated derivatives and considered Level 3 valuations due to significant unobservable inputs related to counterparty credit risk. An increase in counterparty credit risk assumptions would result in a lower fair value measurement. The tables below present a reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3). (in millions) Balance as of December 31, 2019 Net change in fair value Foreign CTA 1 Purchases / Additions Settlements Balance as of March 31, 2020 Investments in real estate ventures $ 34.4 — — 7.0 — $ 41.4 Mortgage banking derivative assets and liabilities, net 10.2 (75.2 ) — 26.2 (25.2 ) (64.0 ) Earn-out liabilities 148.5 (8.2 ) (2.0 ) — (8.3 ) 130.0 (in millions) Balance as of December 31, 2018 Net change in fair value Foreign CTA 1 Purchases / Additions Settlements Balance as of March 31, 2019 Investments in real estate ventures $ 11.5 — — 1.5 — $ 13.0 Mortgage banking derivative assets and liabilities, net 6.3 (9.2 ) — 15.1 (11.6 ) 0.6 Earn-out liabilities 192.0 5.7 (0.3 ) 1.5 (29.7 ) 169.2 1 CTA: Currency translation adjustments Net change in fair value, included in the tables above, is reported in Net income as follows. Category of Assets/Liabilities using Unobservable Inputs Condensed Consolidated Statements of Comprehensive Income Account Caption Earn-out liabilities (Short-term and Long-term) Restructuring and acquisition charges Investments in real estate ventures Equity (losses) earnings Other current assets - Mortgage banking derivative assets Revenue before reimbursements Other current liabilities - Mortgage banking derivative liabilities Revenue before reimbursements Non-Recurring Fair Value Measurements We review our investments in real estate ventures, except those investments otherwise reported at fair value, on a quarterly basis, or as otherwise deemed necessary, for indications of whether we may be unable to recover the carrying value of our investments and whether such investments are other-than-temporarily impaired. When the carrying amount of the investment is in excess of the estimated future undiscounted cash flows, we use a discounted cash flow approach or other acceptable method to determine the fair value of the investment in computing the amount of the impairment. Our determination of fair value primarily relies on Level 3 inputs. We did not recognize any significant investment-level impairment losses during either of the three months ended March 31, 2020 or 2019 . See Note 6, Investments in Real Estate Ventures , for additional information, including information related to impairment charges recorded at the investee level.

Debt

Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt	9. DEBT Short-term borrowings and long-term debt obligations are composed of the following. (in millions) March 31, 2020 December 31, 2019 Short-term borrowings: Local overdraft facilities $ 35.8 44.8 Other short-term borrowings 89.4 75.3 Total short-term borrowings $ 125.2 120.1 Credit facility, net of debt issuance costs of $11.4 and $12.3 1,438.6 512.7 Long-term senior notes, 4.4%, face amount of $275.0, due November 2022, net of debt issuance costs of $1.0 and $1.2 274.0 273.8 Long-term senior notes, 1.96%, face amount of €175.0, due June 2027, net of debt issuance costs of $0.9 and $0.9 191.1 195.4 Long-term senior notes, 2.21%, face amount of €175.0, due June 2029, net of debt issuance costs of $1.0 and $1.0 191.0 195.4 Total debt $ 2,219.9 1,297.4 Credit Facility We have a $2.75 billion unsecured revolving credit facility (the "Facility") that matures on May 17, 2023 . Pricing on the Facility ranges from LIBOR plus 0.875% to 1.35% , with pricing as of March 31, 2020 , at LIBOR plus 0.95% . In addition to outstanding borrowings under the Facility presented in the above table, we had outstanding letters of credit under the Facility of $0.7 million and $0.8 million as of March 31, 2020 and December 31, 2019 , respectively. The following tables provides additional information on our Facility. Three Months Ended March 31, ($ in millions) 2020 2019 Average outstanding borrowings under the Facility $ 935.2 209.0 Effective interest rate on the Facility 2.4 % 3.3 % We will continue to use the Facility for, but not limited to, business acquisitions, working capital needs (including payment of accrued incentive compensation), co-investment activities, dividend payments, share repurchases and capital expenditures. Short-Term Borrowings and Long-Term Debt In addition to our Facility, we have the capacity to borrow up to an additional $86.0 million under local overdraft facilities. Amounts outstanding are presented in the debt table above. As of March 31, 2020 , our issuer and senior unsecured ratings are investment grade: Baa1 from Moody’s Investors Service, Inc. and BBB+ from Standard & Poor’s Ratings Services. Covenants Our Facility and senior notes are subject to customary financial and other covenants, including cash interest coverage ratios and leverage ratios, as well as event of default conditions. We remained in compliance with all covenants as of March 31, 2020 . Warehouse Facilities March 31, 2020 December 31, 2019 ($ in millions) Outstanding Balance Maximum Capacity Outstanding Balance Maximum Capacity Warehouse Facilities: LIBOR plus 1.15%, expires September 21, 2020 $ 94.1 375.0 104.4 375.0 LIBOR plus 1.15%, expires September 19, 2020 381.0 775.0 184.8 775.0 LIBOR plus 1.15%, expires August 31, 2020 — 100.0 11.4 100.0 Fannie Mae ASAP 1 program, LIBOR plus 1.15% 89.0 n/a 53.6 n/a LIBOR plus 1.25% 280.2 1,000.0 151.6 1,000.0 LIBOR plus 1.25% 92.9 175.0 11.0 175.0 Gross warehouse facilities 937.2 2,425.0 516.8 2,425.0 Debt issuance costs (0.6 ) n/a (0.9 ) n/a Total warehouse facilities $ 936.6 2,425.0 515.9 2,425.0 1 As Soon As Pooled ("ASAP") funding program We have lines of credit established for the sole purpose of funding our Warehouse receivables. These lines of credit exist with financial institutions and are secured by the related warehouse receivables. Pursuant to these warehouse facilities, we are required to comply with certain financial covenants regarding (1) minimum net worth, (2) minimum servicing-related loans, and (3) minimum adjusted leverage ratios. We remained in compliance with all covenants under our Warehouse facilities as of March 31, 2020 .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. COMMITMENTS AND CONTINGENCIES We are a defendant in various litigation matters arising in the ordinary course of business, some of which involve claims for damages that are substantial in amount. When a potential loss event occurs, we estimate the ultimate cost of the claim and accrue the amount in Other current and long-term liabilities on our Condensed Consolidated Balance Sheets when probable and estimable. In addition, we have established receivables from third-party insurance providers for claim amounts in excess of the risk retained by our captive insurance company. In total, these receivables were $32.9 million and $37.7 million as of March 31, 2020 and December 31, 2019 , respectively, and are included in Notes and other receivables and Long-term receivables on our Condensed Consolidated Balance Sheets. The following table shows the professional indemnity accrual activity and related payments. (in millions) December 31, 2019 $ 38.1 New claims 0.3 Prior year claims adjustments (including foreign currency changes) (4.8 ) Claims paid — March 31, 2020 $ 33.6 December 31, 2018 $ 43.1 New claims — Prior year claims adjustments (including foreign currency changes) (2.4 ) Claims paid (1.1 ) March 31, 2019 $ 39.6 As a participant in the DUS program, we retain a portion of the risk of loss for loans that are originated and sold under the DUS program. Net losses on defaulted loans are shared with Fannie Mae based upon established loss-sharing ratios. Generally, we share approximately one-third of incurred losses, subject to a cap of 20% of the principal balance of the mortgage at origination. As of March 31, 2020 and December 31, 2019 , we had loans subject to such loss-sharing arrangements with an aggregate unpaid principal balance of $9.9 billion and $9.7 billion , respectively. For all DUS program loans with loss-sharing obligations, we record a non-contingent liability equal to the estimated fair value of the guarantee obligations undertaken upon sale of the loan, which reduces our gain on sale of the loan. Subsequently, this liability is amortized over the estimated life of the loan and recognized as Revenue on the Condensed Consolidated Statements of Comprehensive Income. As of March 31, 2020 and December 31, 2019 , the loss-sharing guarantee obligations were $20.8 million and $20.6 million , respectively, and are included in Other liabilities on our Condensed Consolidated Balance Sheets. There were no loan losses incurred for the three months ended March 31, 2020 and 2019 .

Restructuring and Acquisition C

Restructuring and Acquisition Charges	3 Months Ended
	Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring and acquisition charges	11. RESTRUCTURING AND ACQUISITION CHARGES Restructuring and acquisition charges include cash and non-cash expenses. Cash-based charges primarily consist of (1) severance and employment-related charges, including those related to external service providers, incurred in conjunction with a structural business shift, which can be represented by a notable change in headcount, change in leadership, or transformation of business processes, (2) acquisition, transaction and integration-related charges, and (3) other restructuring including lease exit charges. Non-cash charges include (1) stock-based compensation expense for retention awards issued in conjunction with the HFF acquisition and (2) fair value adjustments to earn-out liabilities relating to prior-period acquisition activity. Restructuring and acquisition charges are presented in table below. Three Months Ended March 31, (in millions) 2020 2019 Severance and other employment-related charges $ 1.3 5.0 Restructuring, pre-acquisition and post-acquisition charges 9.8 7.9 Stock-based compensation expense for HFF retention awards 11.2 — Fair value adjustments to earn-out liabilities (8.2 ) 5.7 Restructuring and acquisition charges $ 14.1 18.6 The following tables show the accrual activity and payments relating to cash-based Restructuring and acquisition charges. (in millions) Severance & Employment-Related Lease Exit Restructuring, Acquisition and Total December 31, 2019 $ 24.3 8.4 3.8 $ 36.5 Accruals 1.3 2.4 7.4 11.1 Payments made (14.3 ) (9.6 ) (6.9 ) (30.8 ) March 31, 2020 $ 11.3 1.2 4.3 $ 16.8 (in millions) Severance & Employment-Related Lease Other Restructuring, Total December 31, 2018 $ 14.0 0.6 0.5 $ 15.1 Accruals 5.0 — 7.9 12.9 Payments made (7.8 ) (0.1 ) (6.5 ) (14.4 ) March 31, 2019 $ 11.2 0.5 1.9 $ 13.6 We expect the majority of accrued severance and other accrued acquisition costs as of March 31, 2020 will be paid during the next twelve months. Lease exit payments depend on the terms of various leases, which extend as far out as 2022. HFF Acquisition For the three months ended March 31, 2020 and 2019, amounts included in Restructuring and acquisition charges associated with the HFF acquisition and integration were $21.3 million and $6.5 million , respectively. These charges included transaction/deal costs, retention and severance expense, early lease termination costs, and other integration expenses. During the integration of HFF, we expect to incur significant charges over the two years following the acquisition in an effort to maximize the value of the combined organization. We expect to recognize approximately $100 million of expense over this two-year window relating to retention awards which have already been paid or granted (in the case of RSUs). In addition, we may incur other costs in connection with the integration including, but not limited to, lease termination charges and other employee-related costs, but are unable to estimate these amounts. We anticipate that other than RSU retention awards granted, substantially all of these cumulative charges will result in cash expenditures.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss) by Component	3 Months Ended
	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss) by Component	12. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) BY COMPONENT The tables below present the changes in Accumulated other comprehensive income (loss) ("AOCI") by component. For pension and postretirement benefits, we report amounts reclassified from AOCI relating to employer service cost in Compensation and benefits within the Condensed Consolidated Statements of Comprehensive Income. All other reclassifications relating to pension and postretirement benefits are reported within Other income. (in millions) Pension and postretirement benefit Cumulative foreign currency translation adjustment Total Balance as of December 31, 2019 $ (72.0 ) (355.8 ) $ (427.8 ) Other comprehensive loss before reclassification — (143.4 ) (143.4 ) Amounts reclassified from AOCI after tax expense of $ - , $ - and $ - — — — Other comprehensive income (loss) after tax expense of $ - , $ - and $ - — (143.4 ) (143.4 ) Balance as of March 31, 2020 $ (72.0 ) (499.2 ) $ (571.2 ) (in millions) Pension and postretirement benefit Cumulative foreign currency translation adjustment Total Balance as of December 31, 2018 $ (57.4 ) (398.8 ) $ (456.2 ) Other comprehensive income before reclassification — 31.3 31.3 Amounts reclassified from AOCI after tax expense of $ - , $ - and $ - (1.0 ) — (1.0 ) Other comprehensive (loss) income after tax expense of $ - , $ - and $ - (1.0 ) 31.3 30.3 Balance as of March 31, 2019 $ (58.4 ) (367.5 ) $ (425.9 )

New Accounting Standards New _2

New Accounting Standards New Accounting Standards (Policies)	3 Months Ended
	Mar. 31, 2020
Text Block [Abstract]
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	2. NEW ACCOUNTING STANDARDS Recently adopted accounting guidance In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, Financial Instruments - Credit Losses (ASC Topic 326) , which created a new framework to evaluate financial instruments, such as trade receivables, for expected credit losses. This new framework replaced the existing incurred loss approach and is expected to result in more timely recognition of credit losses. On January 1, 2020, we adopted ASU No. 2016-13 using a modified-retrospective approach, as required by the ASU. The adoption impacted our methodology of reserving for (i) Trade receivables, (ii) other receivable-related financial assets, specifically contract assets, and (iii) off-balance sheet credit exposures within the scope of this ASU. Specifically, we evaluated our historical reserve balances for Trade receivables and the related write-off activity and developed a forward-looking process for adoption. We also evaluated our loss-sharing guarantee obligation for certain mortgage loans we originate, sell and retain the servicing rights. The following sections discuss our updated reserve methodologies. Trade Receivables We estimate an allowance to provide for uncollectible accounts receivable, which is applied upon recognition of the receivable. We base this estimate on historical experience combined with a review of the receivable aging, current and expected economic conditions, and client credit quality. The estimate also includes specifically identified amounts for which payment has become unlikely. For receivables with lives of less than one year, changes to economic conditions are not expected to have a significant impact on our estimate of expected credit losses. However, we will monitor economic conditions on a quarterly basis to determine if any adjustments are deemed necessary. Notes and Other Receivables and Long-Term Receivables We make ongoing assessments of the collectability of outstanding Notes and other receivables and Long-term receivables, considering both objective and subjective factors such as the age profile of outstanding balances, the contractual terms of repayment, and credit quality. Aspects of credit quality considered in our assessments of collectability include historical experience, current and expected economic conditions, and our broader business relationship with the obligor. We record an allowance against the outstanding balance when our assessments determine payment has become unlikely. After all collection efforts have been exhausted by management, the outstanding balance is written off against the reserve. Historically, credit quality deterioration to the point of impairment or non-performance in our Notes and other receivables and Long-term receivables has been limited and has not had a material impact on the Condensed Consolidated Financial Statements. Reimbursable Receivables We record an allowance based on specific identification of an uncollectible reimbursable receivable, considering current and future economic conditions as well as client credit quality. Historically, we have not experienced any material collection issues and, as such, have not applied a formulaic reserve to these receivables. Contract Assets Contract assets include amounts recognized as revenue for which we are not yet entitled to payment for reasons other than the passage of time, but that do not constrain revenue recognition. Historically, we have not recognized a provision for contract assets. Under ASC Topic 326, we include Contract assets in our reserving process and assess the risk of loss similar to our methodology for Trade receivables, since Contract assets are reclassified to Trade receivables when we become entitled to payment. Accordingly, a reserve is applied upon recognition of the contract asset. Financial Guarantees Certain loans we originate and sell under the Fannie Mae Delegated Underwriting and Servicing (“DUS”) program retain a percentage of the risk of loss. This loss-sharing aspect of the program represents an off-balance sheet credit exposure, and we have established a contingent reserve ("loan loss guarantee reserve") for this risk in accordance with ASC Topic 326. To estimate the reserve, we use a model that analyzes historical losses, current and expected economic conditions, and reasonable and supportable forecasts. The model also considers specific details of the underlying property used as collateral, such as occupancy and financial performance. The loan loss guarantee reserve is calculated on an individual loan level. For the period ended March 31, 2020, the inputs to the model incorporated specific economic conditions related to the COVID-19 pandemic that resulted in a notable increase to our loan loss guarantee reserve. As of March 31, 2020, the loan loss guarantee reserve was $45.7 million and was included within Other liabilities on the Condensed Consolidated Balance Sheets. The loss-sharing guarantee obligation (in accordance with ASC Topic 460, Guarantees ) represents the non-contingent obligation incurred as a result of issuing a loss-sharing guarantee as part of our participation in the DUS program and is separate from the loan loss guarantee reserve discussed above. See Note 10, Commitments and Contingencies , for further information on the DUS program and the loss-sharing guarantee obligation. The following table details the cumulative impact to retained earnings upon adoption of ASC Topic 326. Published Adjustment due to As Reported Under December 31, 2019 adoption of ASC Topic 326 on January 1, 2020 (in millions) (audited) ASC Topic 326 (unaudited) Assets Allowance for trade receivables $ (68.1 ) (3.6 ) $ (71.7 ) Deferred tax assets, net 245.4 5.5 250.9 Allowance for contract assets (1) — (1.7 ) (1.7 ) Liabilities and equity Loan loss guarantee reserve (2) $ — 15.1 $ 15.1 Retained earnings 3,588.3 (14.9 ) 3,573.4 1 The portion of the allowance for long-term contract assets is included within Other assets on the Condensed Consolidated Balance Sheets. 2 Included within Other liabilities on the Condensed Consolidated Balance Sheets

New Accounting Standards Cumula

New Accounting Standards Cumulative impact upon adoption of ASC Topic 326 (Tables)	Jan. 01, 2020
Cumulative Impact ASC Topic 326 [Line Items]
Cumulative Impact ASC Topic 326 [Table Text Block]	The following table details the cumulative impact to retained earnings upon adoption of ASC Topic 326. Published Adjustment due to As Reported Under December 31, 2019 adoption of ASC Topic 326 on January 1, 2020 (in millions) (audited) ASC Topic 326 (unaudited) Assets Allowance for trade receivables $ (68.1 ) (3.6 ) $ (71.7 ) Deferred tax assets, net 245.4 5.5 250.9 Allowance for contract assets (1) — (1.7 ) (1.7 ) Liabilities and equity Loan loss guarantee reserve (2) $ — 15.1 $ 15.1 Retained earnings 3,588.3 (14.9 ) 3,573.4 1 The portion of the allowance for long-term contract assets is included within Other assets on the Condensed Consolidated Balance Sheets. 2 Included within Other liabilities on the Condensed Consolidated Balance Sheets

Revenue Recognition Disaggregat

Revenue Recognition Disaggregation of Revenue (Tables)	3 Months Ended
	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue [Table Text Block]	Such revenue was included entirely within Americas Capital Markets and is presented below. Three months Ended March 31, (in millions) 2020 2019 Revenue excluded from scope of ASC Topic 606 $ 49.3 31.0

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Summarized Unaudited Financial Information by Business Segments	Summarized financial information by business segment is as follows. Three Months Ended March 31, (in millions) 2020 2019 Americas - Real Estate Services Leasing $ 418.9 389.8 Capital Markets 247.4 100.1 Property & Facility Management 1,458.8 1,362.0 Project & Development Services 306.4 308.7 Advisory, Consulting and Other 91.6 89.5 Revenue 2,523.1 2,250.1 Reimbursements (1,393.5 ) (1,351.4 ) Revenue before reimbursements 1,129.6 898.7 Gross contract costs (212.8 ) (187.7 ) Net non-cash MSR and mortgage banking derivative activity 1.6 0.1 Fee revenue 918.4 711.1 Operating expenses, excluding reimbursed expenses: Compensation, operating and administrative expenses 1,010.3 810.8 Depreciation and amortization 37.4 27.3 Segment operating expenses, excluding reimbursed expenses 1,047.7 838.1 Gross contract costs (212.8 ) (187.7 ) Fee-based segment operating expenses 834.9 650.4 Segment operating income $ 81.9 60.6 Equity earnings (losses) 12.7 (0.3 ) Segment income $ 94.6 60.3 EMEA - Real Estate Services Leasing $ 48.1 52.2 Capital Markets 73.2 64.0 Property & Facility Management 375.0 369.3 Project & Development Services 203.2 180.5 Advisory, Consulting and Other 56.4 57.4 Revenue 755.9 723.4 Reimbursements (182.8 ) (164.6 ) Revenue before reimbursements 573.1 558.8 Gross contract costs (262.6 ) (242.7 ) Fee revenue 310.5 316.1 Operating expenses, excluding reimbursed expenses: Compensation, operating and administrative expenses 584.4 576.9 Depreciation and amortization 9.2 11.3 Segment operating expenses, excluding reimbursed expenses 593.6 588.2 Gross contract costs (262.6 ) (242.7 ) Fee-based segment operating expenses 331.0 345.5 Segment operating loss $ (20.5 ) (29.4 ) Equity earnings — 0.1 Segment loss $ (20.5 ) (29.3 ) Continued: Summarized financial information by business segment is as follows. Three Months Ended March 31, (in millions) 2020 2019 Asia Pacific - Real Estate Services Leasing $ 25.4 35.9 Capital Markets 21.7 29.4 Property & Facility Management 532.0 537.8 Project & Development Services 94.8 110.9 Advisory, Consulting and Other 38.2 34.7 Revenue 712.1 748.7 Reimbursements (284.9 ) (341.1 ) Revenue before reimbursements 427.2 407.6 Gross contract costs (249.5 ) (209.4 ) Fee revenue 177.7 198.2 Operating expenses, excluding reimbursed expenses: Compensation, operating and administrative expenses 417.5 400.5 Depreciation and amortization 6.6 6.4 Segment operating expenses, excluding reimbursed expenses 424.1 406.9 Gross contract costs (249.5 ) (209.4 ) Fee-based segment operating expenses 174.6 197.5 Segment operating income $ 3.1 0.7 Equity (losses) earnings (0.7 ) 0.3 Segment income $ 2.4 1.0 LaSalle Advisory fees $ 85.6 77.6 Transaction fees & other 13.6 13.2 Incentive fees 5.7 7.6 Revenue 104.9 98.4 Reimbursements (1.8 ) (1.9 ) Revenue before reimbursements 103.1 96.5 Gross contract costs (4.5 ) (2.8 ) Fee revenue 98.6 93.7 Operating expenses, excluding reimbursed expenses: Compensation, operating and administrative expenses 87.1 82.9 Depreciation and amortization 1.8 1.5 Segment operating expenses, excluding reimbursed expenses 88.9 84.4 Gross contract costs (4.5 ) (2.8 ) Fee-based segment operating expenses 84.4 81.6 Segment operating income $ 14.2 12.1 Equity (losses) earnings (40.3 ) 4.9 Segment (loss) income $ (26.1 ) 17.0 Three Months Ended March 31, (in millions) 2020 2019 Segment Reconciling Items Fee revenue $ 1,505.2 1,319.1 Gross contract costs 729.4 642.6 Net non-cash MSR and mortgage banking derivative activity (1.6 ) (0.1 ) Revenue before reimbursements 2,233.0 1,961.6 Reimbursements 1,863.0 1,859.0 Revenue $ 4,096.0 3,820.6 Total segment operating expenses, excluding reimbursed expenses & before restructuring and acquisition charges $ 2,154.3 1,917.6 Reimbursed expenses 1,863.0 1,859.0 Total segment operating expenses before restructuring and acquisition charges $ 4,017.3 3,776.6 Operating income before restructuring and acquisition charges $ 78.7 44.0 Less: Restructuring and acquisition charges 14.1 18.6 Operating income $ 64.6 25.4

Business Combinations, Goodwi_2

Business Combinations, Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2020
Schedule of Business Acquisitions, Pro Forma Revenue [Line Items]
Summary of Earn-out Payments [Table Text Block]	As of March 31, 2020 , we have completed our analysis to assign fair values to all the identifiable intangible and tangible assets acquired for our 2019 acquisitions, with the exception of tax-related accounts with respect to our acquisition of HFF, Inc. Earn-Out Payments ($ in millions) March 31, 2020 December 31, 2019 Number of acquisitions with earn-out payments subject to the achievement of certain performance criteria 44 44 Maximum earn-out payments (undiscounted) $ 254.0 $ 268.9 Short-term earn-out liabilities (fair value) 1 48.8 53.9 Long-term earn-out liabilities (fair value) 1 81.2 94.5 1 Included in Short-term and Long-term acquisition-related obligations on the Condensed Consolidated Balance Sheets.
Movements in Goodwill by Reporting Segment	The following tables detail, by reporting segment, movements in goodwill. Real Estate Services (in millions) Americas EMEA Asia Pacific LaSalle Consolidated Balance as of December 31, 2019 $ 2,877.6 915.9 317.6 57.1 $ 4,168.2 Impact of exchange rate movements (2.9 ) (46.6 ) (13.4 ) (1.0 ) (63.9 ) Balance as of March 31, 2020 $ 2,874.7 869.3 304.2 56.1 $ 4,104.3 Real Estate Services (in millions) Americas EMEA Asia Pacific LaSalle Consolidated Balance as of December 31, 2018 $ 1,452.0 906.8 316.8 22.2 $ 2,697.8 Additions, net of adjustments 3.0 — — 32.8 35.8 Impact of exchange rate movements 0.6 3.9 0.7 (0.5 ) 4.7 Balance as of March 31, 2019 $ 1,455.6 910.7 317.5 54.5 $ 2,738.3
Movements in Gross Carrying Amount and Accumulated Amortization of Finite-Lived Intangible Assets	The following tables detail, by reporting segment, movements in the gross carrying amount and accumulated amortization of our identifiable intangibles. MSRs Other Intangibles (in millions) Americas Americas EMEA Asia Pacific LaSalle Consolidated Gross Carrying Amount Balance as of December 31, 2019 $ 480.4 285.7 55.9 21.4 54.0 $ 897.4 Additions, net of adjustments (1) 16.9 — — 0.5 — 17.4 Adjustment for fully amortized intangibles (12.7 ) — (0.2 ) — — (12.9 ) Impact of exchange rate movements — (0.5 ) (3.4 ) (2.1 ) (1.1 ) (7.1 ) Balance as of March 31, 2020 $ 484.6 285.2 52.3 19.8 52.9 $ 894.8 Accumulated Amortization Balance as of December 31, 2019 $ (104.0 ) (68.3 ) (33.1 ) (6.7 ) (2.7 ) $ (214.8 ) Amortization, net (2) (22.6 ) (11.6 ) (1.8 ) (0.4 ) (0.7 ) (37.1 ) Adjustment for fully amortized intangibles 12.7 — 0.2 — — 12.9 Impact of exchange rate movements — 0.2 2.1 0.5 0.1 2.9 Balance as of March 31, 2020 $ (113.9 ) (79.7 ) (32.6 ) (6.6 ) (3.3 ) $ (236.1 ) Net book value as of March 31, 2020 $ 370.7 205.5 19.7 13.2 49.6 $ 658.7 (1) Included in this amount for MSRs was $5.9 million relating to prepayments/write-offs due to prepayments of the underlying obligation for which we assumed, acquired or retained the servicing rights. (2) Amortization of MSRs is included in Revenue before reimbursements within the Condensed Consolidated Statements of Comprehensive Income. MSRs Other Intangibles (in millions) Americas Americas EMEA Asia Pacific LaSalle Consolidated Gross Carrying Amount Balance as of December 31, 2018 $ 266.2 90.0 83.1 23.5 43.9 $ 506.7 Additions, net of adjustments (1) 8.1 0.9 — — 9.2 18.2 Adjustment for fully amortized intangibles (4.4 ) — — — — (4.4 ) Impact of exchange rate movements — 0.1 1.0 0.2 — 1.3 Balance as of March 31, 2019 $ 269.9 91.0 84.1 23.7 53.1 $ 521.8 Accumulated Amortization Balance as of December 31, 2018 $ (72.4 ) (38.8 ) (51.8 ) (6.8 ) — $ (169.8 ) Amortization, net (2) (9.7 ) (3.6 ) (2.7 ) (0.6 ) (0.7 ) (17.3 ) Adjustment for fully amortized intangibles 4.4 — — — — 4.4 Impact of exchange rate movements — — (0.4 ) — — (0.4 ) Balance as of March 31, 2019 $ (77.7 ) (42.4 ) (54.9 ) (7.4 ) (0.7 ) $ (183.1 ) Net book value as of March 31, 2019 $ 192.2 48.6 29.2 16.3 52.4 $ 338.7 (1) Included in this amount for MSRs was $1.9 million relating to prepayments/write-offs due to prepayments of the underlying obligation for which we assumed, acquired or retained the servicing rights. (2) Amortization of MSRs is included in Revenue before reimbursements within the Condensed Consolidated Statements of Comprehensive Income.
Future Amortization Expense for Finite-Lived Intangible Assets	The remaining estimated future amortization expense of MSRs and other identifiable intangible assets, by year, as of March 31, 2020 , is presented in the following table. (in millions) MSRs Other Intangibles Total 2020 (remaining 9 months) $ 49.1 40.9 $ 90.0 2021 62.1 48.6 110.7 2022 54.6 42.9 97.5 2023 47.6 40.5 88.1 2024 40.0 36.2 76.2 2025 32.5 18.9 51.4 Thereafter 84.8 10.0 94.8 Total $ 370.7 238.0 $ 608.7

Investments in Real Estate Ve_2

Investments in Real Estate Ventures (Tables)	3 Months Ended
	Mar. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Balance Sheet Amounts Consolidated for Variable Interest Entity [Table Text Block]	Summarized financial information for our consolidated VIEs is presented in the following tables. (in millions) March 31, 2020 December 31, 2019 Property and equipment, net $ 128.3 126.3 Investments in real estate ventures 8.8 13.2 Other assets 12.5 14.3 Total assets $ 149.6 153.8 Other current liabilities $ 3.5 3.2 Mortgage indebtedness (included in Other liabilities) 69.7 69.7 Total liabilities 73.2 72.9 Members' equity (included in Noncontrolling interest) 76.4 80.9 Total liabilities and members' equity $ 149.6 153.8
Comprehensive Income Amounts Consolidated for Variable Interest Entity [Table Text Block]	Three Months Ended March 31, (in millions) 2020 2019 Revenue $ 4.3 1.3 Operating and other expenses (4.3 ) (1.6 ) Net gains on sale of investments (included in Equity earnings) 12.2 — Net income (loss) $ 12.2 (0.3 )
Investments in real estate ventures, Fair Value	The table below shows the movement in our investments in real estate ventures reported at fair value. (in millions) 2020 2019 Fair value investments as of January 1, $ 328.6 247.3 Investments 28.9 10.5 Distributions (16.0 ) (2.8 ) Change in fair value (35.2 ) 4.3 Foreign currency translation adjustments, net (4.3 ) 0.3 Fair value investments as of March 31, $ 302.0 259.6

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Restricted Stock Unit Activity	Restricted stock unit ("RSU") and performance stock unit ("PSU") awards activity is presented in the following tables. RSU Shares PSU Shares Total Shares Weighted Average Weighted Average Remaining (in years) Unvested as of December 31, 2019 1,532.3 286.8 1,819.1 $ 141.51 2.39 Granted 9.7 — 9.7 160.03 Vested (324.6 ) — (324.6 ) 136.91 Forfeited (8.5 ) — (8.5 ) 137.68 Unvested as of March 31, 2020 1,208.9 286.8 1,495.7 $ 144.71 1.78 Unvested as of December 31, 2018 559.6 93.1 652.7 $ 131.32 2.02 Granted 74.7 — 74.7 152.84 Vested (195.5 ) — (195.5 ) 114.79 Forfeited (4.5 ) (0.4 ) (4.9 ) 126.70 Unvested as of March 31, 2019 434.3 92.7 527.0 $ 140.55 2.15

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table categorizes by level in the fair value hierarchy the estimated fair value of our assets and liabilities measured at fair value on a recurring basis. March 31, 2020 December 31, 2019 (in millions) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets Investments in real estate ventures - fair value $ 63.2 — 41.4 69.4 — 34.4 Foreign currency forward contracts receivable — 6.1 — — 10.5 — Warehouse receivables — 1,026.8 — — 527.1 — Deferred compensation plan assets — 374.2 — — 349.9 — Mortgage banking derivative assets — — 118.2 — — 36.1 Total assets at fair value $ 63.2 1,407.1 159.6 69.4 887.5 70.5 Liabilities Foreign currency forward contracts payable $ — 6.2 — — 4.4 — Deferred compensation plan liabilities — 348.4 — — 346.1 — Earn-out liabilities — — 130.0 — — 148.5 Mortgage banking derivative liabilities — — 182.2 — — 25.9 Total liabilities at fair value $ — 354.6 312.2 — 350.5 174.4
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The tables below present a reconciliation for assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3). (in millions) Balance as of December 31, 2019 Net change in fair value Foreign CTA 1 Purchases / Additions Settlements Balance as of March 31, 2020 Investments in real estate ventures $ 34.4 — — 7.0 — $ 41.4 Mortgage banking derivative assets and liabilities, net 10.2 (75.2 ) — 26.2 (25.2 ) (64.0 ) Earn-out liabilities 148.5 (8.2 ) (2.0 ) — (8.3 ) 130.0 (in millions) Balance as of December 31, 2018 Net change in fair value Foreign CTA 1 Purchases / Additions Settlements Balance as of March 31, 2019 Investments in real estate ventures $ 11.5 — — 1.5 — $ 13.0 Mortgage banking derivative assets and liabilities, net 6.3 (9.2 ) — 15.1 (11.6 ) 0.6 Earn-out liabilities 192.0 5.7 (0.3 ) 1.5 (29.7 ) 169.2 1 CTA: Currency translation adjustments
Fair Value, Qualitative Disclosures About Assets and Liabilities using Unobservable Inputs	Net change in fair value, included in the tables above, is reported in Net income as follows. Category of Assets/Liabilities using Unobservable Inputs Condensed Consolidated Statements of Comprehensive Income Account Caption Earn-out liabilities (Short-term and Long-term) Restructuring and acquisition charges Investments in real estate ventures Equity (losses) earnings Other current assets - Mortgage banking derivative assets Revenue before reimbursements Other current liabilities - Mortgage banking derivative liabilities Revenue before reimbursements

Debt Short-Term Borrowings and

Debt Short-Term Borrowings and Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Short-term borrowings and long-term debt obligations are composed of the following. (in millions) March 31, 2020 December 31, 2019 Short-term borrowings: Local overdraft facilities $ 35.8 44.8 Other short-term borrowings 89.4 75.3 Total short-term borrowings $ 125.2 120.1 Credit facility, net of debt issuance costs of $11.4 and $12.3 1,438.6 512.7 Long-term senior notes, 4.4%, face amount of $275.0, due November 2022, net of debt issuance costs of $1.0 and $1.2 274.0 273.8 Long-term senior notes, 1.96%, face amount of €175.0, due June 2027, net of debt issuance costs of $0.9 and $0.9 191.1 195.4 Long-term senior notes, 2.21%, face amount of €175.0, due June 2029, net of debt issuance costs of $1.0 and $1.0 191.0 195.4 Total debt $ 2,219.9 1,297.4
Schedule of Credit Facility, Average Outstanding Amount [Table Text Block]	The following tables provides additional information on our Facility. Three Months Ended March 31, ($ in millions) 2020 2019 Average outstanding borrowings under the Facility $ 935.2 209.0 Effective interest rate on the Facility 2.4 % 3.3 %

Debt Warehouse Facilities (Tabl

Debt Warehouse Facilities (Tables)	3 Months Ended
	Mar. 31, 2020
Warehouse Facilities [Abstract]
Schedule of Warehouse Facilities	Warehouse Facilities March 31, 2020 December 31, 2019 ($ in millions) Outstanding Balance Maximum Capacity Outstanding Balance Maximum Capacity Warehouse Facilities: LIBOR plus 1.15%, expires September 21, 2020 $ 94.1 375.0 104.4 375.0 LIBOR plus 1.15%, expires September 19, 2020 381.0 775.0 184.8 775.0 LIBOR plus 1.15%, expires August 31, 2020 — 100.0 11.4 100.0 Fannie Mae ASAP 1 program, LIBOR plus 1.15% 89.0 n/a 53.6 n/a LIBOR plus 1.25% 280.2 1,000.0 151.6 1,000.0 LIBOR plus 1.25% 92.9 175.0 11.0 175.0 Gross warehouse facilities 937.2 2,425.0 516.8 2,425.0 Debt issuance costs (0.6 ) n/a (0.9 ) n/a Total warehouse facilities $ 936.6 2,425.0 515.9 2,425.0 1 As Soon As Pooled ("ASAP") funding program

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Loss Contingencies by Contingency [Table Text Block]	The following table shows the professional indemnity accrual activity and related payments. (in millions) December 31, 2019 $ 38.1 New claims 0.3 Prior year claims adjustments (including foreign currency changes) (4.8 ) Claims paid — March 31, 2020 $ 33.6 December 31, 2018 $ 43.1 New claims — Prior year claims adjustments (including foreign currency changes) (2.4 ) Claims paid (1.1 ) March 31, 2019 $ 39.6

Restructuring and Acquisition_2

Restructuring and Acquisition Charges Restructuring and Related Activities (Tables)	3 Months Ended
	Mar. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Activities Disclosure [Text Block]	11. RESTRUCTURING AND ACQUISITION CHARGES Restructuring and acquisition charges include cash and non-cash expenses. Cash-based charges primarily consist of (1) severance and employment-related charges, including those related to external service providers, incurred in conjunction with a structural business shift, which can be represented by a notable change in headcount, change in leadership, or transformation of business processes, (2) acquisition, transaction and integration-related charges, and (3) other restructuring including lease exit charges. Non-cash charges include (1) stock-based compensation expense for retention awards issued in conjunction with the HFF acquisition and (2) fair value adjustments to earn-out liabilities relating to prior-period acquisition activity. Restructuring and acquisition charges are presented in table below. Three Months Ended March 31, (in millions) 2020 2019 Severance and other employment-related charges $ 1.3 5.0 Restructuring, pre-acquisition and post-acquisition charges 9.8 7.9 Stock-based compensation expense for HFF retention awards 11.2 — Fair value adjustments to earn-out liabilities (8.2 ) 5.7 Restructuring and acquisition charges $ 14.1 18.6 The following tables show the accrual activity and payments relating to cash-based Restructuring and acquisition charges. (in millions) Severance & Employment-Related Lease Exit Restructuring, Acquisition and Total December 31, 2019 $ 24.3 8.4 3.8 $ 36.5 Accruals 1.3 2.4 7.4 11.1 Payments made (14.3 ) (9.6 ) (6.9 ) (30.8 ) March 31, 2020 $ 11.3 1.2 4.3 $ 16.8 (in millions) Severance & Employment-Related Lease Other Restructuring, Total December 31, 2018 $ 14.0 0.6 0.5 $ 15.1 Accruals 5.0 — 7.9 12.9 Payments made (7.8 ) (0.1 ) (6.5 ) (14.4 ) March 31, 2019 $ 11.2 0.5 1.9 $ 13.6 We expect the majority of accrued severance and other accrued acquisition costs as of March 31, 2020 will be paid during the next twelve months. Lease exit payments depend on the terms of various leases, which extend as far out as 2022. HFF Acquisition For the three months ended March 31, 2020 and 2019, amounts included in Restructuring and acquisition charges associated with the HFF acquisition and integration were $21.3 million and $6.5 million , respectively. These charges included transaction/deal costs, retention and severance expense, early lease termination costs, and other integration expenses. During the integration of HFF, we expect to incur significant charges over the two years following the acquisition in an effort to maximize the value of the combined organization. We expect to recognize approximately $100 million of expense over this two-year window relating to retention awards which have already been paid or granted (in the case of RSUs). In addition, we may incur other costs in connection with the integration including, but not limited to, lease termination charges and other employee-related costs, but are unable to estimate these amounts. We anticipate that other than RSU retention awards granted, substantially all of these cumulative charges will result in cash expenditures.
Restructuring Charges and Related Payment Activity	The following tables show the accrual activity and payments relating to cash-based Restructuring and acquisition charges. (in millions) Severance & Employment-Related Lease Exit Restructuring, Acquisition and Total December 31, 2019 $ 24.3 8.4 3.8 $ 36.5 Accruals 1.3 2.4 7.4 11.1 Payments made (14.3 ) (9.6 ) (6.9 ) (30.8 ) March 31, 2020 $ 11.3 1.2 4.3 $ 16.8 (in millions) Severance & Employment-Related Lease Other Restructuring, Total December 31, 2018 $ 14.0 0.6 0.5 $ 15.1 Accruals 5.0 — 7.9 12.9 Payments made (7.8 ) (0.1 ) (6.5 ) (14.4 ) March 31, 2019 $ 11.2 0.5 1.9 $ 13.6
Restructuring, Impairment, and Other Activities Disclosure [Text Block]	Restructuring and acquisition charges are presented in table below. Three Months Ended March 31, (in millions) 2020 2019 Severance and other employment-related charges $ 1.3 5.0 Restructuring, pre-acquisition and post-acquisition charges 9.8 7.9 Stock-based compensation expense for HFF retention awards 11.2 — Fair value adjustments to earn-out liabilities (8.2 ) 5.7 Restructuring and acquisition charges $ 14.1 18.6

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) by Component (Tables)	3 Months Ended
	Mar. 31, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	All other reclassifications relating to pension and postretirement benefits are reported within Other income. (in millions) Pension and postretirement benefit Cumulative foreign currency translation adjustment Total Balance as of December 31, 2019 $ (72.0 ) (355.8 ) $ (427.8 ) Other comprehensive loss before reclassification — (143.4 ) (143.4 ) Amounts reclassified from AOCI after tax expense of $ - , $ - and $ - — — — Other comprehensive income (loss) after tax expense of $ - , $ - and $ - — (143.4 ) (143.4 ) Balance as of March 31, 2020 $ (72.0 ) (499.2 ) $ (571.2 ) (in millions) Pension and postretirement benefit Cumulative foreign currency translation adjustment Total Balance as of December 31, 2018 $ (57.4 ) (398.8 ) $ (456.2 ) Other comprehensive income before reclassification — 31.3 31.3 Amounts reclassified from AOCI after tax expense of $ - , $ - and $ - (1.0 ) — (1.0 ) Other comprehensive (loss) income after tax expense of $ - , $ - and $ - (1.0 ) 31.3 30.3 Balance as of March 31, 2019 $ (58.4 ) (367.5 ) $ (425.9 )

New Accounting Standards Cumu_2

New Accounting Standards Cumulative impact upon adoption of ASC Topic 326 (Details) - USD ($) $ in Millions	Mar. 31, 2020	Jan. 01, 2020	Dec. 31, 2019
Adjustment due to adoption of ASC Topic 326 [Line Items]
Trade receivables, allowances	$ (69)	$ (71.7)	$ (68.1)
Deferred Income Tax Assets, Net	232.4	250.9	245.4
Contract with Customer, Asset, Allowance for Credit Loss		(1.7)
Loan loss guarantee reserve	45.7	15.1
Retained earnings	$ 3,578.7	3,573.4	$ 3,588.3
Accounting Standards Update 2016-13 [Member]
Adjustment due to adoption of ASC Topic 326 [Line Items]
Trade receivables, allowances		(3.6)
Deferred Income Tax Assets, Net		5.5
Contract with Customer, Asset, Allowance for Credit Loss		(1.7)
Loan loss guarantee reserve		15.1
Retained earnings		$ (14.9)

Revenue Recognition Revenue R_2

Revenue Recognition Revenue Recognition (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Disaggregation of Revenue [Line Items]
Contract with Customer, Asset, after Allowance for Credit Loss	$ 414.7		$ 419.3
Contract with Customer, Liability	$ 88.4		$ 87.7
Percentage of Revenue, Remaining Performance Obligation	5.00%
Out of Scope of Topic 606 Revenue [Member]
Disaggregation of Revenue [Line Items]
Fees and Commissions, Mortgage Banking and Servicing	$ 49.3	$ 31

Business Segments (Details)

Business Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Reimbursement Revenues	$ 1,863	$ 1,859
Segment revenue:
Revenue	4,096	3,820.6
Revenue Before Reimbursements	2,233	1,961.6
Operating expenses:
Depreciation and amortization	55	46.5
Operating Income (Loss)	64.6	25.4
Equity in earnings (losses)	(28.3)	5
Segment Reconciling Items:
Revenue	4,096	3,820.6
Total segment operating expenses before restructuring and acquisition charges	2,154.3	1,917.6
Cost of Reimbursable Expenses	1,863	1,859
Segment Operating Expenses before Restructuring and acquisition	4,017.3	3,776.6
Segment Reporting Information Operating Income Before Restructuring Charges	78.7	44
Restructuring and acquisition charges	14.1	18.6
Operating Income (Loss)	64.6	25.4
Assets	13,900.8		$ 13,672.6
Reportable Subsegments [Member]
Segment revenue:
Real Estate Revenues, Net	1,505.2	1,319.1
Operating expenses:
Gross contract vendor and subcontractor costs reimbursement	729.4	642.6
Reportable Subsegments [Member] | Americas [Member]
Segment Reporting Information [Line Items]
Reimbursement Revenues	1,393.5	1,351.4
Segment revenue:
Revenue	2,523.1	2,250.1
Revenue Before Reimbursements	1,129.6	898.7
Derivative, Gain (Loss) on Derivative, Net	(1.6)	(0.1)
Real Estate Revenues, Net	918.4	711.1
Operating expenses:
Compensation, operating and administrative expenses	1,010.3	810.8
Depreciation and amortization	37.4	27.3
Operating Expenses, Excluding Reimbursed Expenses	1,047.7	838.1
Gross contract vendor and subcontractor costs reimbursement	212.8	187.7
Total fee based segment operating expenses	834.9	650.4
General Contractor Cost	(212.8)	(187.7)
Operating Income (Loss)	81.9	60.6
Equity in earnings (losses)	12.7	(0.3)
Operating Income (Loss), Including Income (Loss) from Equity Method Investments	94.6	60.3
Segment Reconciling Items:
Revenue	2,523.1	2,250.1
Operating Income (Loss)	81.9	60.6
Reportable Subsegments [Member] | EMEA [Member]
Segment Reporting Information [Line Items]
Reimbursement Revenues	182.8	164.6
Segment revenue:
Revenue	755.9	723.4
Revenue Before Reimbursements	573.1	558.8
Real Estate Revenues, Net	310.5	316.1
Operating expenses:
Compensation, operating and administrative expenses	584.4	576.9
Depreciation and amortization	9.2	11.3
Operating Expenses, Excluding Reimbursed Expenses	593.6	588.2
Gross contract vendor and subcontractor costs reimbursement	262.6	242.7
Total fee based segment operating expenses	331	345.5
General Contractor Cost	(262.6)	(242.7)
Operating Income (Loss)	(20.5)	(29.4)
Equity in earnings (losses)	0	0.1
Operating Income (Loss), Including Income (Loss) from Equity Method Investments	(20.5)	(29.3)
Segment Reconciling Items:
Revenue	755.9	723.4
Operating Income (Loss)	(20.5)	(29.4)
Reportable Subsegments [Member] | Asia Pacific [Member]
Segment Reporting Information [Line Items]
Reimbursement Revenues	284.9	341.1
Segment revenue:
Revenue	712.1	748.7
Revenue Before Reimbursements	427.2	407.6
Real Estate Revenues, Net	177.7	198.2
Operating expenses:
Compensation, operating and administrative expenses	417.5	400.5
Depreciation and amortization	6.6	6.4
Operating Expenses, Excluding Reimbursed Expenses	424.1	406.9
Gross contract vendor and subcontractor costs reimbursement	249.5	209.4
Total fee based segment operating expenses	174.6	197.5
General Contractor Cost	(249.5)	(209.4)
Operating Income (Loss)	3.1	0.7
Equity in earnings (losses)	(0.7)	0.3
Operating Income (Loss), Including Income (Loss) from Equity Method Investments	2.4	1
Segment Reconciling Items:
Revenue	712.1	748.7
Operating Income (Loss)	3.1	0.7
Investment Management [Member]
Segment Reporting Information [Line Items]
Reimbursement Revenues	1.8	1.9
Segment revenue:
Revenue	104.9	98.4
Revenue Before Reimbursements	103.1	96.5
Real Estate Revenues, Net	98.6	93.7
Operating expenses:
Compensation, operating and administrative expenses	87.1	82.9
Depreciation and amortization	1.8	1.5
Operating Expenses, Excluding Reimbursed Expenses	88.9	84.4
Gross contract vendor and subcontractor costs reimbursement	4.5	2.8
Total fee based segment operating expenses	84.4	81.6
General Contractor Cost	(4.5)	(2.8)
Operating Income (Loss)	14.2	12.1
Equity in earnings (losses)	(40.3)	4.9
Operating Income (Loss), Including Income (Loss) from Equity Method Investments	(26.1)	17
Segment Reconciling Items:
Revenue	104.9	98.4
Operating Income (Loss)	14.2	12.1
Leasing [Member] | Reportable Subsegments [Member] | Americas [Member]
Segment revenue:
Revenue	418.9	389.8
Segment Reconciling Items:
Revenue	418.9	389.8
Leasing [Member] | Reportable Subsegments [Member] | EMEA [Member]
Segment revenue:
Revenue	48.1	52.2
Segment Reconciling Items:
Revenue	48.1	52.2
Leasing [Member] | Reportable Subsegments [Member] | Asia Pacific [Member]
Segment revenue:
Revenue	25.4	35.9
Segment Reconciling Items:
Revenue	25.4	35.9
Capital Markets [Member] | Reportable Subsegments [Member] | Americas [Member]
Segment revenue:
Revenue	247.4	100.1
Segment Reconciling Items:
Revenue	247.4	100.1
Capital Markets [Member] | Reportable Subsegments [Member] | EMEA [Member]
Segment revenue:
Revenue	73.2	64
Segment Reconciling Items:
Revenue	73.2	64
Capital Markets [Member] | Reportable Subsegments [Member] | Asia Pacific [Member]
Segment revenue:
Revenue	21.7	29.4
Segment Reconciling Items:
Revenue	21.7	29.4
Property & Facility Management [Member] | Reportable Subsegments [Member] | Americas [Member]
Segment revenue:
Revenue	1,458.8	1,362
Segment Reconciling Items:
Revenue	1,458.8	1,362
Property & Facility Management [Member] | Reportable Subsegments [Member] | EMEA [Member]
Segment revenue:
Revenue	375	369.3
Segment Reconciling Items:
Revenue	375	369.3
Property & Facility Management [Member] | Reportable Subsegments [Member] | Asia Pacific [Member]
Segment revenue:
Revenue	532	537.8
Segment Reconciling Items:
Revenue	532	537.8
Project & Development Services [Member] | Reportable Subsegments [Member] | Americas [Member]
Segment revenue:
Revenue	306.4	308.7
Segment Reconciling Items:
Revenue	306.4	308.7
Project & Development Services [Member] | Reportable Subsegments [Member] | EMEA [Member]
Segment revenue:
Revenue	203.2	180.5
Segment Reconciling Items:
Revenue	203.2	180.5
Project & Development Services [Member] | Reportable Subsegments [Member] | Asia Pacific [Member]
Segment revenue:
Revenue	94.8	110.9
Segment Reconciling Items:
Revenue	94.8	110.9
Advisory, Consulting and Other [Member] | Reportable Subsegments [Member] | Americas [Member]
Segment revenue:
Revenue	91.6	89.5
Segment Reconciling Items:
Revenue	91.6	89.5
Advisory, Consulting and Other [Member] | Reportable Subsegments [Member] | EMEA [Member]
Segment revenue:
Revenue	56.4	57.4
Segment Reconciling Items:
Revenue	56.4	57.4
Advisory, Consulting and Other [Member] | Reportable Subsegments [Member] | Asia Pacific [Member]
Segment revenue:
Revenue	38.2	34.7
Segment Reconciling Items:
Revenue	38.2	34.7
Advisory Fees [Member] | Investment Management [Member]
Segment revenue:
Revenue	85.6	77.6
Segment Reconciling Items:
Revenue	85.6	77.6
Transaction Fees & Other [Member] | Investment Management [Member]
Segment revenue:
Revenue	13.6	13.2
Segment Reconciling Items:
Revenue	13.6	13.2
Incentive Fees [Member] | Investment Management [Member]
Segment revenue:
Revenue	5.7	7.6
Segment Reconciling Items:
Revenue	$ 5.7	$ 7.6

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 86
Business Combinations, Guaranteed Deferred Acquisition Obligation	0	$ 6.5
Business Combination, contingent earn-out consideration	0	1.5
Redeemable Noncontrolling Interest	$ 8.6		$ 8.6
Document Period End Date	Mar. 31, 2020
Payment for Contingent Consideration Liability, Total	$ 12.9
Goodwill	4,104.3	2,738.3	4,168.2	$ 2,697.8
Reportable Subsegments [Member] | Americas [Member]
Business Acquisition [Line Items]
Goodwill	2,874.7	1,455.6	2,877.6	1,452
Reportable Subsegments [Member] | EMEA [Member]
Business Acquisition [Line Items]
Goodwill	869.3	910.7	915.9	906.8
Reportable Subsegments [Member] | Asia Pacific [Member]
Business Acquisition [Line Items]
Goodwill	304.2	317.5	317.6	316.8
Investment Management [Member]
Business Acquisition [Line Items]
Goodwill	56.1	54.5	$ 57.1	$ 22.2
HFF Acquisition [Member]
Business Acquisition [Line Items]
Business Combination, Integration Related Costs	$ 21.3	$ 6.5

Business Combinations, Goodwi_3

Business Combinations, Goodwill and Other Intangible Assets Business Combinations, Earn-out Payments (Details) $ in Millions	Mar. 31, 2020USD ($)acquisition	Dec. 31, 2019USD ($)acquisition
Summary of Earn-out Payments [Line Items]
Number Of Acquisitions Subject To Potential Earn Out Payments Provisions | acquisition	44	44
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 254	$ 268.9
Business Combination, Contingent Consideration, Liability, Current	68.6	74.4
Business Combination, Contingent Consideration, Liability, Noncurrent	106.7	124.1
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Summary of Earn-out Payments [Line Items]
Business Combination, Contingent Consideration, Liability, Current	48.8	53.9
Business Combination, Contingent Consideration, Liability, Noncurrent	$ 81.2	$ 94.5

Business Combinations, Goodwi_4

Business Combinations, Goodwill by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
BUSINESS COMBINATIONS, GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]
Finite-Lived Intangible Assets, Net	$ 608.7
Identifiable intangibles with indefinite useful lives	50
Goodwill [Line Items]
Servicing Asset at Amortized Cost, Other than Temporary Impairments	5.9	$ 1.9
Goodwill [Roll Forward]
Goodwill Additions, net of adjustments		35.8
Goodwill, Translation Adjustments	(63.9)	4.7
Goodwill	4,104.3	2,738.3
Goodwill	4,168.2	2,697.8
Investment Management [Member]
Goodwill [Roll Forward]
Goodwill Additions, net of adjustments		32.8
Goodwill, Translation Adjustments	(1)	(0.5)
Goodwill	56.1	54.5
Goodwill	57.1	22.2
Americas [Member] | Reportable Subsegments [Member]
Goodwill [Roll Forward]
Goodwill Additions, net of adjustments		3
Goodwill, Translation Adjustments	(2.9)	0.6
Goodwill	2,874.7	1,455.6
Goodwill	2,877.6	1,452
EMEA [Member] | Reportable Subsegments [Member]
Goodwill [Roll Forward]
Goodwill Additions, net of adjustments		0
Goodwill, Translation Adjustments	(46.6)	3.9
Goodwill	869.3	910.7
Goodwill	915.9	906.8
Asia Pacific [Member] | Reportable Subsegments [Member]
Goodwill [Roll Forward]
Goodwill Additions, net of adjustments		0
Goodwill, Translation Adjustments	(13.4)	0.7
Goodwill	304.2	317.5
Goodwill	317.6	$ 316.8
Other Intangible Assets [Member]
BUSINESS COMBINATIONS, GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]
Finite-Lived Intangible Assets, Net	238
Mortgage servicing rights [Member]
BUSINESS COMBINATIONS, GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]
Finite-Lived Intangible Assets, Net	$ 370.7

Business Combinations Other Int

Business Combinations Other Intangibles by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Schedule of Finite and Indefinite lived Intangible Assets by Segment [Line Items]
Finite and Indefinite lived Intangible Assets, Additions	$ 17.4	$ 18.2
Adjustment for fully amortized intangibles	12.9	4.4
Finite And Indefinite Lived Intangible Assets Translation Adjustments	(7.1)	(1.3)
Intangible Assets, Gross (Excluding Goodwill)	894.8	521.8	$ 897.4	$ 506.7
Identified intangibles, with finite useful lives, accumulated amortization	(236.1)	(183.1)	(214.8)	(169.8)
Amortization expense	(37.1)	(17.3)
Accumulated Amortization Adjustment for fully Amortized Intangibles	(12.9)	(4.4)
Impact of exchange rate movements	2.9	0.4
Net book value as of end of period	658.7	338.7	682.6
Servicing Asset at Amortized Cost, Other than Temporary Impairments	5.9	1.9
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2020 (9 months)	90
2021	110.7
2022	97.5
2023	88.1
2024	76.2
2025	51.4
Thereafter	94.8
Total	608.7
Mortgage servicing rights [Member]
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2020 (9 months)	49.1
2021	62.1
2022	54.6
2023	47.6
2024	40
2025	32.5
Thereafter	84.8
Total	370.7
Mortgage servicing rights [Member] | Reportable Subsegments [Member] | Americas [Member]
Schedule of Finite and Indefinite lived Intangible Assets by Segment [Line Items]
Finite And Indefinite Lived Intangible Assets Gross			480.4
Finite and Indefinite lived Intangible Assets, Additions	16.9	8.1
Adjustment for fully amortized intangibles	12.7	4.4
Finite And Indefinite Lived Intangible Assets Translation Adjustments	0	0
Intangible Assets, Gross (Excluding Goodwill)	484.6	269.9		266.2
Identified intangibles, with finite useful lives, accumulated amortization	(113.9)	(77.7)	(104)	(72.4)
Amortization expense	(22.6)	(9.7)
Accumulated Amortization Adjustment for fully Amortized Intangibles	(12.7)	(4.4)
Impact of exchange rate movements	0	0
Net book value as of end of period	370.7	192.2
Other Intangible Assets [Member]
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2020 (9 months)	40.9
2021	48.6
2022	42.9
2023	40.5
2024	36.2
2025	18.9
Thereafter	10
Total	238
Other Intangible Assets [Member] | Reportable Subsegments [Member] | Americas [Member]
Schedule of Finite and Indefinite lived Intangible Assets by Segment [Line Items]
Finite and Indefinite lived Intangible Assets, Additions	0	0.9
Adjustment for fully amortized intangibles	0	0
Finite And Indefinite Lived Intangible Assets Translation Adjustments	(0.5)	(0.1)
Intangible Assets, Gross (Excluding Goodwill)	285.2	91	285.7	90
Identified intangibles, with finite useful lives, accumulated amortization	(79.7)	(42.4)	(68.3)	(38.8)
Amortization expense	(11.6)	(3.6)
Accumulated Amortization Adjustment for fully Amortized Intangibles	0	0
Impact of exchange rate movements	0.2	0
Net book value as of end of period	205.5	48.6
Other Intangible Assets [Member] | Reportable Subsegments [Member] | EMEA [Member]
Schedule of Finite and Indefinite lived Intangible Assets by Segment [Line Items]
Finite and Indefinite lived Intangible Assets, Additions	0	0
Adjustment for fully amortized intangibles	0.2	0
Finite And Indefinite Lived Intangible Assets Translation Adjustments	(3.4)	(1)
Intangible Assets, Gross (Excluding Goodwill)	52.3	84.1	55.9	83.1
Identified intangibles, with finite useful lives, accumulated amortization	(32.6)	(54.9)	(33.1)	(51.8)
Amortization expense	(1.8)	(2.7)
Accumulated Amortization Adjustment for fully Amortized Intangibles	(0.2)	0
Impact of exchange rate movements	2.1	0.4
Net book value as of end of period	19.7	29.2
Other Intangible Assets [Member] | Reportable Subsegments [Member] | Asia Pacific [Member]
Schedule of Finite and Indefinite lived Intangible Assets by Segment [Line Items]
Finite and Indefinite lived Intangible Assets, Additions	0.5	0
Adjustment for fully amortized intangibles	0	0
Finite And Indefinite Lived Intangible Assets Translation Adjustments	(2.1)	(0.2)
Intangible Assets, Gross (Excluding Goodwill)	19.8	23.7	21.4	23.5
Identified intangibles, with finite useful lives, accumulated amortization	(6.6)	(7.4)	(6.7)	(6.8)
Amortization expense	(0.4)	(0.6)
Accumulated Amortization Adjustment for fully Amortized Intangibles	0	0
Impact of exchange rate movements	0.5	0
Net book value as of end of period	13.2	16.3
Other Intangible Assets [Member] | Investment Management [Member]
Schedule of Finite and Indefinite lived Intangible Assets by Segment [Line Items]
Finite and Indefinite lived Intangible Assets, Additions	0	9.2
Adjustment for fully amortized intangibles	0	0
Finite And Indefinite Lived Intangible Assets Translation Adjustments	(1.1)	0
Intangible Assets, Gross (Excluding Goodwill)	52.9	53.1	54	43.9
Identified intangibles, with finite useful lives, accumulated amortization	(3.3)	(0.7)	$ (2.7)	$ 0
Amortization expense	(0.7)	(0.7)
Accumulated Amortization Adjustment for fully Amortized Intangibles	0	0
Impact of exchange rate movements	0.1	0
Net book value as of end of period	$ 49.6	$ 52.4

Investments in Real Estate Ve_3

Investments in Real Estate Ventures (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)investment	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Schedule of Equity Method Investments [Line Items]
Number of separate property or fund co-investments | investment	46
Property, Plant and Equipment, Net, consolidated VIE	$ 678.4		$ 701.9
Investments in real estate ventures	390.8		404.2
Total assets	13,900.8		13,672.6
Other Liabilities, Current	356.7		203.2
Total liabilities	8,863.3		8,459.3
Total liabilities and equity	13,900.8		$ 13,672.6
Revenue, consolidated VIE	4,096	$ 3,820.6
Net income	17.6	21.2
Fair Value [Abstract]
Fair value investments at beginning of the period	328.6	247.3
Investments in Real Estate Ventures, at Fair Value, Additions	28.9	10.5
Investments in Real Estate Ventures, at Fair Value, Distributions	16	2.8
Unrealized Gain (Loss) on Investments	(35.2)	4.3
Investments in Real Estate Ventures, at Fair Value, Foreign Currency Translation	(4.3)	0.3
Fair value investments at end of the period	$ 302	259.6
LaSalle Investment Company II [Member]
Schedule of Equity Method Investments [Line Items]
Partnership ownership interest (in hundredths)	48.78%
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 60.4
Exclusive of LaSalle Investment Company II [Member]
Schedule of Equity Method Investments [Line Items]
Guarantor Obligations, Maximum Exposure, Undiscounted	309
Equity Method Investments [Member]
Schedule of Equity Method Investments [Line Items]
Property, Plant and Equipment, Net, consolidated VIE	128.3	126.3
Investments in real estate ventures	8.8	13.2
Other Assets, consolidated VIE	12.5	14.3
Total assets	149.6	153.8
Other Liabilities, Current	3.5	3.2
Loans Payable, Fair Value Disclosure, consolidated VIE	69.7	69.7
Total liabilities	73.2	72.9
Members' Equity, consolidated VIE	76.4	80.9
Total liabilities and equity	149.6	153.8
Revenue, consolidated VIE	4.3	1.3
Other Expenses, consolidated VIE	(4.3)	(1.6)
Gains (Losses) on Sales of Investment Real Estate, consolidated VIE	12.2	0
Net income	$ 12.2	$ (0.3)

Stock-based Compensation (Detai

Stock-based Compensation (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Restricted stock unit activity, additional disclosures [Abstract]
Document Period End Date	Mar. 31, 2020
Restricted Stock Units (RSUs)
Restricted stock unit activity [Roll Forward]
Unvested at beginning of period (in shares)	1,532,300		559,600
Granted (in shares)	9,700		74,700
Vested (in shares)	324,600		195,500
Forfeited (in shares)	(8,500)		(4,500)
Unvested at end of period (in shares)	1,208,900	1,532,300	434,300	559,600
Restricted stock unit activity, additional disclosures [Abstract]
Weighted average grant date fair value, beginning of period (in dollars per share)	$ 141.51		$ 131.32
Weighted average grant date fair value, end of period (in dollars per share)		$ 141.51		$ 131.32
Weighted average remaining contractual life, unvested shares outstanding		2 years 4 months 20 days		2 years 7 days
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Adjustment Amount	$ 5,500,000
Restricted stock unit activity [Roll Forward]
Unvested at beginning of period (in shares)	286,800		93,100
Granted (in shares)	0		0
Vested (in shares)	0		0
Forfeited (in shares)	0		(400)
Unvested at end of period (in shares)	286,800	286,800	92,700	93,100
Share-based Payment Arrangement [Member]
Restricted stock unit activity [Roll Forward]
Unvested at beginning of period (in shares)	1,819,100		652,700
Granted (in shares)	9,700		74,700
Vested (in shares)	324,600		195,500
Forfeited (in shares)	(8,500)		(4,900)
Unvested at end of period (in shares)	1,495,700	1,819,100	527,000	652,700
Restricted stock unit activity, additional disclosures [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 160.03		$ 152.84
Weighted average grant date fair value, vested (in dollars per share)	136.91		114.79
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value	137.68		126.70
Weighted average grant date fair value, end of period (in dollars per share)	$ 144.71		$ 140.55
Weighted average remaining contractual life, unvested shares outstanding	1 year 9 months 10 days		2 years 1 month 24 days
Unamortized deferred compensation cost	$ 107,200,000
HFF Acquisition [Member] | Share-based Payment Arrangement [Member]
Restricted stock unit activity, additional disclosures [Abstract]
Unamortized deferred compensation cost	$ 66,900,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Document Period End Date	Mar. 31, 2020
Derivative, Notional Amount	$ 1,800	$ 2,300
Fair value of long-term debt	595.5	685.9
Long-term debt, net of debt issuance costs	656.1	664.6
Investments, Fair Value Disclosure	302	328.6	$ 259.6	$ 247.3
Foreign currency forward contracts, net notional value	840	1,050
Deferred compensation plan, contra-equity, shares held in trust	5.6	5.7
Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset, Fair Value, Gross Asset	7.3	10.6
Derivative Asset, Fair Value, Gross Liability	1.2	0.1
Derivative Liability, Fair Value, Gross Asset	2.1	0.8
Derivative Liability, Fair Value, Gross Liability	8.3	5.2
Long-Term Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unamortized Debt Issuance Expense	2.9	3.1
Fair Value, Recurring [Member] | Fair Value Measured at Net Asset Value Per Share [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	197.4	224.8
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	0	0
Foreign currency forward contract, current asset amount	6.1	10.5
Foreign currency forward contract, current liability amount	6.2	4.4
Deferred compensation plan assets	374.2	349.9
Deferred compensation plan liabilities	$ 348.4	$ 346.1

Fair Value Measurements (Assets

Fair Value Measurements (Assets and Liabilities Measured on a Recurring Basis) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	$ 302	$ 259.6	$ 328.6	$ 247.3
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	63.2		69.4
Foreign currency forward contracts receivable	0		0
Loans Receivable, Fair Value Disclosure	0		0
Deferred compensation plan assets	0		0
Mortgage banking derivative asset	0		0
Total assets at fair value	63.2		69.4
Foreign currency forward contracts payable	0		0
Deferred compensation plan liabilities	0		0
Business Combination, Contingent Consideration, Liability	0		0
Mortgage banking derivative liabilities	0		0
Total liabilities at fair value	0		0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	0		0
Foreign currency forward contracts receivable	6.1		10.5
Loans Receivable, Fair Value Disclosure	1,026.8		527.1
Deferred compensation plan assets	374.2		349.9
Mortgage banking derivative asset	0		0
Total assets at fair value	1,407.1		887.5
Foreign currency forward contracts payable	6.2		4.4
Deferred compensation plan liabilities	348.4		346.1
Business Combination, Contingent Consideration, Liability	0		0
Mortgage banking derivative liabilities	0		0
Total liabilities at fair value	354.6		350.5
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Assets (Liabilities), at Fair Value, Net	(64)	0.6	10.2	6.3
Investments, Fair Value Disclosure	41.4	13	34.4	11.5
Foreign currency forward contracts receivable	0		0
Loans Receivable, Fair Value Disclosure	0		0
Deferred compensation plan assets	0		0
Mortgage banking derivative asset	118.2		36.1
Total assets at fair value	159.6		70.5
Foreign currency forward contracts payable	0		0
Deferred compensation plan liabilities	0		0
Business Combination, Contingent Consideration, Liability	130	169.2	148.5	$ 192
Mortgage banking derivative liabilities	182.2		25.9
Total liabilities at fair value	312.2		$ 174.4
Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	7	1.5
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	$ 0	$ 0

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	$ 302	$ 259.6	$ 328.6	$ 247.3
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	41.4	13	$ 34.4	$ 11.5
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Business Combination, Contingent Consideration, Liability, Beginning Balance	148.5	192
Derivative Assets (Liabilities), at Fair Value, Net, Beginning Balance	10.2	6.3
Business Combination, Contingent Consideration, Liability, Ending Balance	130	169.2
Derivative Assets (Liabilities), at Fair Value, Net, Ending Balance	(64)	0.6
Earn-out Liabilities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(8.2)	5.7
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	(2)	(0.3)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0	1.5
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(8.3)	(29.7)
Derivative [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(75.2)	(9.2)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	26.2	15.1
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(25.2)	(11.6)
Investments [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	7	1.5
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	$ 0	$ 0

Debt Short-Term Borrowings an_2

Debt Short-Term Borrowings and Long-Term Debt (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Document Period End Date	Mar. 31, 2020
Bank Overdrafts	$ 35,800,000	$ 44,800,000
Other Short-term Borrowings	89,400,000	75,300,000
Short-term Debt	125,200,000	120,100,000
Long-term debt, net of debt issuance costs	656,100,000	664,600,000
Debt, Long-term and Short-term, Combined Amount	2,219,900,000	1,297,400,000
Line of Credit [Member]
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense	11,400,000	12,300,000
Long-term senior notes, 4.4%, due November 2022 [Member]
Debt Instrument [Line Items]
Long-term debt, net of debt issuance costs	274,000,000	273,800,000
Debt Instrument, Face Amount	$ 275,000,000	$ 275,000,000
Debt Instrument, Interest Rate, Stated Percentage	4.40%	4.40%
Unamortized Debt Issuance Expense	$ 1	$ 1.2
Long-term senior notes, Euro notes, 1.96%, due June 2027 [Member]
Debt Instrument [Line Items]
Long-term debt, net of debt issuance costs	191,100,000	195,400,000
Debt Instrument, Face Amount	$ 175,000,000	$ 175,000,000
Debt Instrument, Interest Rate, Stated Percentage	1.96%	1.96%
Unamortized Debt Issuance Expense	$ 0.9	$ 0.9
Long-term senior notes, Euro notes, 2.21%, due June 2029 [Member]
Debt Instrument [Line Items]
Long-term debt, net of debt issuance costs	191,000,000	195,400,000
Debt Instrument, Face Amount	$ 175,000,000	$ 175,000,000
Debt Instrument, Interest Rate, Stated Percentage	2.21%	2.21%
Unamortized Debt Issuance Expense	$ 1	$ 1

Credit Facility (Details)

Credit Facility (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Line of Credit Facility [Line Items]
Long-term Line of Credit, Noncurrent, Net of Debt Issuance Costs	$ 1,438.6		$ 512.7
Line of Credit Facility, Maximum Borrowing Capacity	86
Letters of Credit Outstanding, Amount	0.7		0.8
Line of Credit [Member]
Line of Credit Facility [Line Items]
Long-term Line of Credit, Noncurrent, Net of Debt Issuance Costs	1,438.6		$ 512.7
Line of Credit Facility, Maximum Borrowing Capacity	2,750
Line of Credit Facility, Average Outstanding Amount	$ 935.2	$ 209
Pricing on the Facility based on market rates	LIBOR plus 0.875% to 1.35%
Description of Variable Rate Basis	LIBOR
Basis spread on variable rate (in hundredths)	0.95%
Line of Credit Facility, Interest Rate During Period	2.40%	3.30%

Debt Warehouse Facilities (Deta

Debt Warehouse Facilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Line of Credit Facility [Line Items]
Document Period End Date	Mar. 31, 2020
Line of Credit Facility, Maximum Borrowing Capacity	$ 86
Warehouse facilities	936.6	$ 515.9
Warehouse Agreement Borrowings [Member]
Line of Credit Facility [Line Items]
Unamortized Debt Issuance Expense	0.6	0.9
Agreement expires September 21, 2020, Extension [Member] [Member]
Line of Credit Facility [Line Items]
Line of Credit, Current	94.1	104.4
Line of Credit Facility, Maximum Borrowing Capacity	$ 375	375
Pricing on the Facility based on market rates	LIBOR plus 1.15%
Huntington Agreement- HFF, Extension [Member] [Member] [Member]
Line of Credit Facility [Line Items]
Line of Credit, Current	$ 92.9	11
Line of Credit Facility, Maximum Borrowing Capacity	$ 175	175
Pricing on the Facility based on market rates	LIBOR plus 1.25%
PNC Agreement- HFF, Extension [Member] [Member]
Line of Credit Facility [Line Items]
Line of Credit, Current	$ 280.2	151.6
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,000	1,000
Pricing on the Facility based on market rates	LIBOR plus 1.25%
Agreement expires September 19, 2020, Extension [Member] [Member]
Line of Credit Facility [Line Items]
Line of Credit, Current	$ 381	184.8
Line of Credit Facility, Maximum Borrowing Capacity	$ 775	775
Pricing on the Facility based on market rates	LIBOR plus 1.15%
Agreement expires August 31, 2020, Extension [Member] [Member]
Line of Credit Facility [Line Items]
Line of Credit, Current	$ 0	11.4
Line of Credit Facility, Maximum Borrowing Capacity	$ 100	100
Pricing on the Facility based on market rates	LIBOR plus 1.15%
Fannie Mae ASAP program [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Repurchase Amount	$ 89	53.6
Debt Instrument, Interest Rate Terms	LIBOR plus 1.15%
Line of Credit, Gross [Member]
Line of Credit Facility [Line Items]
Line of Credit, Current	$ 937.2	516.8
Line of Credit Facility, Maximum Borrowing Capacity	$ 2,425	$ 2,425

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Loss Contingency, Receivable	$ 32.9		$ 37.7
Loan subject to loss-sharing arrangements, aggregate unpaid principal amount	9,900		9,700
Loan loss accrual	20.8		$ 20.6
Insurance Claims [Member]
Loss Contingency Accrual [Roll Forward]
Loss Contingency Accrual	38.1	$ 43.1
Loss Contingency Accrual, Provision	0.3	0
Loss Contingency Accrual, Provision Adjustment	(4.8)	(2.4)
Loss Contingency Accrual, Payments	0	(1.1)
Loss Contingency Accrual	$ 33.6	$ 39.6

Restructuring and Acquisition_3

Restructuring and Acquisition Charges (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
Restructuring and acquisition charges	$ (14.1)	$ (18.6)
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	(8.2)	5.7
Share-based Payment Arrangement, Noncash Expense	11.2	0
Restructuring reserve [Roll Forward]
Restructuring reserve, beginning balance	36.5	15.1
Restructuring charges	11.1	12.9
Payments made	(30.8)	(14.4)
Restructuring reserve, ending balance	$ 16.8	13.6
Document Period End Date	Mar. 31, 2020
Severance [Member]
Restructuring reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 24.3	14
Restructuring charges	1.3	5
Payments made	(14.3)	(7.8)
Restructuring reserve, ending balance	11.3	11.2
Contract Termination [Member]
Restructuring reserve [Roll Forward]
Restructuring reserve, beginning balance	8.4	0.6
Restructuring charges	2.4	0
Payments made	(9.6)	(0.1)
Restructuring reserve, ending balance	1.2	0.5
Lease Exit [Member]
Restructuring reserve [Roll Forward]
Restructuring charges	9.8
Other Restructuring [Member]
Restructuring reserve [Roll Forward]
Restructuring reserve, beginning balance	3.8	0.5
Restructuring charges	7.4	7.9
Payments made	(6.9)	(6.5)
Restructuring reserve, ending balance	4.3	1.9
HFF Acquisition [Member]
Restructuring Cost and Reserve [Line Items]
Business Combination, Integration Related Costs	21.3	$ 6.5
Restructuring reserve [Roll Forward]
Expense to be recognized for retention awards	$ 100

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 5,028.9	$ 3,795.1	$ 5,204.7	$ 3,734.5
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	0	(1)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent	(143.4)	31.3
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(72)	(58.4)	(72)	(57.4)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent	0	1
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(499.2)	(367.5)	(355.8)	(398.8)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(143.4)	31.3
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent	(143.4)	31.3
AOCI Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(571.2)	(425.9)	$ (427.8)	$ (456.2)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(143.4)	31.3
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	1
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent		(1)
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	$ (143.4)	$ 30.3