Jones Lang Lasalle (JLL) risk factors, FY2025 10-K

Jones Lang Lasalle's FY2025 10-K, filed Feb 19, 2026, lists 32 risk factors. Against the prior year's 33: 4 new, 5 dropped, 11 substantially reworded.

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Risk factors listed
321 groups
New this year
4vs 33 last year
Dropped
5since the prior 10-K
Substantially reworded
11of those kept
Section length
9k wordsItem 1A

What the changes say

  • New risks emphasize concentration in large enterprise clients and liability concessions needed to retain them.

What changed since the prior 10-K

New

  • NewRISKS RELATING TO SERVING LARGE CLIENTS AND THE TERMS OF OUR CLIENT CONTRACTS

    We provide services to many of the world's largest and most sophisticated corporate and investor clients. Our business could be adversely affected by the loss of a major client or the disruption of key client relationships

  • NewRISKS RELATING TO SERVING LARGE CLIENTS AND THE TERMS OF OUR CLIENT CONTRACTS

    EVOLVING WORKPLACE STRATEGIES AND REAL ESTATE TRENDS, INCLUDING VARYING OFFICE REAL ESTATE OCCUPANCY RATES IN SOME GEOGRAPHIC MARKETS, MAY AFFECT DEMAND FOR OUR SERVICES AND CLIENT PORTFOLIOS

  • NewRISKS RELATING TO SERVING LARGE CLIENTS AND THE TERMS OF OUR CLIENT CONTRACTS

    For our Investment Management business, these evolving real estate dynamics may influence the performance and valuation of office-focused investment portfolios and affect investor sentiment and capital allocation decisions

  • NewRISKS RELATING TO SERVING LARGE CLIENTS AND THE TERMS OF OUR CLIENT CONTRACTS

    A FAILURE TO MAINTAIN FINANCIAL RESILIENCE COULD IMPAIR OUR BALANCE SHEET, LIQUIDITY, AND ABILITY TO EXECUTE OUR STRATEGY

Dropped

  • Dropped

    CONCENTRATIONS OF BUSINESS WITH CORPORATE AND INVESTOR CLIENTS CAUSE INCREASED CREDIT RISK AND GREATER IMPACT FROM THE LOSS OF CERTAIN CLIENTS AND INCREASED RISKS FROM HIGHER LIMITATIONS OF LIABILITY IN CONTRACTS

  • Dropped

    In recent years, political changes in several countries where we have significant operations have resulted in changes to financial, tax, healthcare, governance, immigration and other laws that directly affect our business and continue to evolve

  • Dropped

    ADVERSE DEVELOPMENTS IN THE CREDIT MARKETS MAY IMPACT OUR ABILITY TO OBTAIN NEW CREDIT COMMITMENTS ON FAVORABLE TERMS AND INCREASE OUR EXPOSURE TO FINANCIAL RISKS OF COUNTERPARTIES WITH WHOM WE CONDUCT BUSINESS

  • Dropped

    It is inherently difficult for us to predict how these types of significant global forces will affect our business in the future and whether we will continue to be able to generate revenue growth to the same extent as we have in the past

  • Dropped

    WE MUST CONTINUE TO MAINTAIN SATISFACTORY INTERNAL FINANCIAL REPORTING CONTROLS AND PROCEDURES

Reworded

  • 98% rewrittenRISKS RELATING TO SERVING LARGE CLIENTS AND THE TERMS OF OUR CLIENT CONTRACTS

    GEOPOLITICAL VOLATILITY AND TRADE TENSIONS, INCLUDING THE IMPOSITION OF TARIFFS, COULD ADVERSELY AFFECT OUR BUSINESS

  • 66% rewrittenRISKS RELATING TO SERVING LARGE CLIENTS AND THE TERMS OF OUR CLIENT CONTRACTS

    WE ARE SUBJECT TO ACTUAL OR PERCEIVED CORPORATE CONFLICTS OF INTEREST CLAIMS

  • 62% rewritten

    INSUFFICIENT ORGANIZATIONAL AGILITY ACROSS OUR STRATEGY, STRUCTURE, PROCESSES, PEOPLE AND TECHNOLOGY MAY IMPACT OUR COMPANY’S SUCCESS

  • 56% rewrittenRISKS RELATING TO SERVING LARGE CLIENTS AND THE TERMS OF OUR CLIENT CONTRACTS

    WE MAY FACE CHALLENGES IN ADAPTING TO AND LEVERAGING RAPIDLY EVOLVING TECHNOLOGIES, INCLUDING ARTIFICIAL INTELLIGENCE, WHICH COULD IMPACT OUR COMPETITIVE POSITION AND FINANCIAL PERFORMANCE

  • 55% rewrittenRISKS RELATING TO SERVING LARGE CLIENTS AND THE TERMS OF OUR CLIENT CONTRACTS

    OUR BUSINESS IS SUBJECT TO GENERAL ECONOMIC CONDITIONS AND REAL ESTATE MARKET CONDITIONS AS WELL AS SUPPLY-CHAIN PRESSURES

  • 54% rewrittenRISKS RELATING TO SERVING LARGE CLIENTS AND THE TERMS OF OUR CLIENT CONTRACTS

    WE ARE SUBJECT TO COMPLEX AND EVOLVING LICENSING REQUIREMENTS

    Was: WE ARE SUBJECT TO COMPLEX AND EVOLVING LICENSING AND REGULATORY REQUIREMENTS

  • 36% rewritten

    OUR RELIANCE ON THIRD PARTIES COULD EXPOSE US TO INCREASED ECONOMIC AND REPUTATIONAL HARM

  • 33% rewrittenRISKS RELATING TO SERVING LARGE CLIENTS AND THE TERMS OF OUR CLIENT CONTRACTS

    EXPOSURE TO ADDITIONAL TAX LIABILITIES STEMMING FROM OUR GLOBAL OPERATIONS AND CHANGES IN TAX LEGISLATION, REGULATION AND TAX RATES COULD ADVERSELY AFFECT OUR FINANCIAL RESULTS

  • 28% rewritten

    OUR HEALTH, SAFETY, SECURITY AND ENVIRONMENT PROGRAM, POLICIES, AND PROCEDURES (INCLUDING THOSE OF OUR CONTRACTORS AND SUBCONTRACTORS) MAY NOT BE ADEQUATE

  • 28% rewrittenRISKS RELATING TO SERVING LARGE CLIENTS AND THE TERMS OF OUR CLIENT CONTRACTS

    WE ARE SUBJECT TO RISKS INHERENT TO INVESTMENT AND REAL ESTATE INVESTMENT BANKING ACTIVITIES

    Was: WE ARE SUBJECT TO RISKS INHERENT TO INVESTMENT (INCLUDING CO-INVESTMENT) AND REAL ESTATE INVESTMENT BANKING ACTIVITIES

  • 21% rewrittenRISKS RELATING TO SERVING LARGE CLIENTS AND THE TERMS OF OUR CLIENT CONTRACTS

    COMPLIANCE WITH MULTIPLE AND POTENTIALLY CONFLICTING LAWS AND REGULATIONS, INCLUDING SANCTIONS AND ANTI-MONEY LAUNDERING REQUIREMENTS, AND DEALING WITH CHANGES IN LEGAL AND REGULATORY REQUIREMENTS MAY BE DIFFICULT, BURDENSOME AND/OR EXPENSIVE

All 32 risk factors

Headings as the filing states them, in filing order.

Other

  1. 01These risk factors do not identify all risks we face; our operations could also be affected by factors not presently known to us or that we currently consider to be not significant to our operations. Our business is also subject to general risks and uncertainties which broadly affect all companies
  2. 02INSUFFICIENT ORGANIZATIONAL AGILITY ACROSS OUR STRATEGY, STRUCTURE, PROCESSES, PEOPLE AND TECHNOLOGY MAY IMPACT OUR COMPANY’S SUCCESS62% rewritten
  3. 03WE MAY FACE CHALLENGES IN RETAINING OUR SENIOR MANAGEMENT, MAINTAINING OUR WORKFORCE CULTURE, AND ATTRACTING AND DEVELOPING QUALIFIED EMPLOYEES
  4. 04Regional and national labor policies, which can be difficult to predict, may indirectly impact our ability to retain and attract key personnel
  5. 05OUR RELIANCE ON THIRD PARTIES COULD EXPOSE US TO INCREASED ECONOMIC AND REPUTATIONAL HARM36% rewritten
  6. 06OUR HEALTH, SAFETY, SECURITY AND ENVIRONMENT PROGRAM, POLICIES, AND PROCEDURES (INCLUDING THOSE OF OUR CONTRACTORS AND SUBCONTRACTORS) MAY NOT BE ADEQUATE28% rewritten
  7. 07WE FACE BUSINESS DISRUPTION AND RELATED RISKS RESULTING FROM HEALTH EPIDEMICS
  8. 08DISRUPTIONS IN COMPUTER SYSTEMS, PRIVACY BREACHES OR CYBERSECURITY ISSUES, OR FAILURES TO EXECUTE OUR ENTERPRISE-WIDE DATA STRATEGY, COULD IMPACT OUR ABILITY TO SERVICE OUR CUSTOMERS AND ADVERSELY AFFECT OUR BUSINESS, DAMAGE OUR REPUTATION AND EXPOSE US TO FINANCIAL RISK

RISKS RELATING TO SERVING LARGE CLIENTS AND THE TERMS OF OUR CLIENT CONTRACTS

  1. 09We provide services to many of the world's largest and most sophisticated corporate and investor clients. Our business could be adversely affected by the loss of a major client or the disruption of key client relationshipsNew
  2. 10WE ARE EXPOSED TO LEGAL AND REPUTATIONAL RISKS ARISING FROM BREACH OF FIDUCIARY OBLIGATIONS CLAIMS PURSUANT TO CLIENT CONTRACTS
  3. 11WE ARE SUBJECT TO ACTUAL OR PERCEIVED CORPORATE CONFLICTS OF INTEREST CLAIMS66% rewritten
  4. 12EVOLVING WORKPLACE STRATEGIES AND REAL ESTATE TRENDS, INCLUDING VARYING OFFICE REAL ESTATE OCCUPANCY RATES IN SOME GEOGRAPHIC MARKETS, MAY AFFECT DEMAND FOR OUR SERVICES AND CLIENT PORTFOLIOSNew
  5. 13For our Investment Management business, these evolving real estate dynamics may influence the performance and valuation of office-focused investment portfolios and affect investor sentiment and capital allocation decisionsNew
  6. 14WITH RESPECT TO LOANS WE ORIGINATE AND SERVICE, WE FACE THE RISK OF POTENTIAL BREACHES OF REPRESENTATIONS AND WARRANTIES, WHICH MAY HAVE A MATERIAL IMPACT ON OUR BUSINESS
  7. 15WE MAY FACE CHALLENGES IN ADAPTING TO AND LEVERAGING RAPIDLY EVOLVING TECHNOLOGIES, INCLUDING ARTIFICIAL INTELLIGENCE, WHICH COULD IMPACT OUR COMPETITIVE POSITION AND FINANCIAL PERFORMANCE56% rewritten
  8. 16IF WE FAIL TO PROTECT OUR INTELLECTUAL PROPERTY ADEQUATELY OR INFRINGE UPON THIRD-PARTY INTELLECTUAL PROPERTY RIGHTS, OUR BUSINESS COULD BE MATERIALLY IMPACTED
  9. 17GEOPOLITICAL VOLATILITY AND TRADE TENSIONS, INCLUDING THE IMPOSITION OF TARIFFS, COULD ADVERSELY AFFECT OUR BUSINESS98% rewritten
  10. 18REAL ESTATE SERVICES AND INVESTMENT MANAGEMENT MARKETS ARE HIGHLY COMPETITIVE, WHICH COULD MAKE IT DIFFICULT FOR US TO MAINTAIN OUR MARKET SHARE, GROWTH RATE AND PROFITABILITY
  11. 19THE SEASONALITY IN PARTS OF OUR BUSINESS EXPOSES US TO RISKS
  12. 20Historically, a significant component of our growth has been generated by acquisitions. Any future growth through acquisitions will depend in part on the continued availability of suitable acquisitions at favorable prices and with advantageous terms and conditions, which may not be available to us
  13. 21WE ARE SUBJECT TO RISKS INHERENT TO INVESTMENT AND REAL ESTATE INVESTMENT BANKING ACTIVITIES28% rewritten
  14. 22Legal, Compliance and Regulatory Risk Factors
  15. 23COMPLIANCE WITH MULTIPLE AND POTENTIALLY CONFLICTING LAWS AND REGULATIONS, INCLUDING SANCTIONS AND ANTI-MONEY LAUNDERING REQUIREMENTS, AND DEALING WITH CHANGES IN LEGAL AND REGULATORY REQUIREMENTS MAY BE DIFFICULT, BURDENSOME AND/OR EXPENSIVE21% rewritten
  16. 24WE ARE SUBJECT TO COMPLEX AND EVOLVING LICENSING REQUIREMENTS54% rewritten
  17. 25WE FACE RISKS RELATING TO ENVIRONMENTAL AND CLIMATE MATTERS, INCLUDING DELIVERING ON OUR 2030 AND 2040 CARBON REDUCTION COMMITMENTS AND COMPLYING WITH EVOLVING CLIMATE-RELATED DISCLOSURE REQUIREMENTS
  18. 26VOLATILITY IN TRANSACTIONAL-BASED REVENUE MAY IMPACT OUR PROFITABILITY
  19. 27CURRENCY RESTRICTIONS, EXCHANGE RATE FLUCTUATIONS, AND INFLATIONARY PRESSURES MAY MATERIALLY IMPACT OUR FINANCIAL RESULTS
  20. 28EXPOSURE TO ADDITIONAL TAX LIABILITIES STEMMING FROM OUR GLOBAL OPERATIONS AND CHANGES IN TAX LEGISLATION, REGULATION AND TAX RATES COULD ADVERSELY AFFECT OUR FINANCIAL RESULTS33% rewritten
  21. 29A FAILURE TO MAINTAIN FINANCIAL RESILIENCE COULD IMPAIR OUR BALANCE SHEET, LIQUIDITY, AND ABILITY TO EXECUTE OUR STRATEGYNew
  22. 30OUR BUSINESS IS SUBJECT TO GENERAL ECONOMIC CONDITIONS AND REAL ESTATE MARKET CONDITIONS AS WELL AS SUPPLY-CHAIN PRESSURES55% rewritten
  23. 31OUR REPUTATION AND BRAND ARE IMPORTANT COMPANY ASSETS; IF WE FAIL TO PROTECT THEM, OUR BUSINESS MAY BE NEGATIVELY IMPACTED
  24. 32DOWNGRADES IN OUR CREDIT RATINGS COULD INCREASE OUR BORROWING COSTS OR REDUCE OUR ACCESS TO FUNDING SOURCES IN THE CREDIT AND CAPITAL MARKETS

Other Jones Lang Lasalle 10-Ks

  • FY2024 10-K risk factors
    33 risks

    JLL faces extensive risks operating globally with 112,000 employees across 80 countries in real estate services. Key vulnerabilities include managing artificial intelligence adoption, tenant credit concentration, global geopolitical volatility, and loan guarantee representations and warranties.

    Filed Feb 19, 2025

About this page

The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.