JLL — what changed in the latest 10-Q
A section-by-section comparison of JLL's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-07-30 vs the prior 10-Q · 2026-04-30
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +35 | −26 | ~26 | 45 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 4 |
| Controls & procedures | Text added/removed | 0 | 0 | ~1 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +1 | −2 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-07-30
Six Months Ended June 30,Change in% Change in Local Currency
Platform operating, administrative and other expenses668.2 650.8 17.4 31
Net non-cash MSR and mortgage banking derivative activity$(15.8)(17.1)1.3 8 %8 %
Gain or loss on disposition reflects the gain or loss recognized on the sale of businesses. Given the low frequency of business disposals by the company historically, the gain or loss directly associated with such activity is excluded as it is not considered indicative of core operating performance.…
Credit losses on convertible note investments0.1 0.2 0.4 0.7
Text removed vs the prior filing · source: 10-Q · 2026-04-30
Net non-cash MSR and mortgage banking derivative activity$(5.5)(12.9)7.4 57 %57 %
The following highlights Revenue by reporting segment and type, for the first quarter of 2026 and 2025 ($ in millions). Refer to segment operating results for further detail.
Consolidated operating expenses were $6.2 billion for the first quarter, up 8% from the same period in 2025. Gross contract costs were $4.3 billion, up 8% from the prior-year quarter, attributable to growth from businesses with higher client pass-through expenses such as Workplace Management and Pro…
The year-over-year change in Restructuring and acquisition charges for the first quarter was largely driven by lower severance and employment-related charges and lower acquisition-related expenses in 2026.
Restructuring, pre-acquisition and post-acquisition charges1.9 8.4
Other information
Text added vs the prior filing · source: 10-Q · 2026-07-30
During the quarter ended June 30, 2026, none of the Company's directors or officers adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense conditions of a Rule 10b5-1(c) trading arrangement or a …
Text removed vs the prior filing · source: 10-Q · 2026-04-30
On March 6, 2026, Joseph (Larry) Quinlan, a Director of the Company, entered into a pre-planned stock trading arrangement (the “Quinlan Trading Plan”) designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and the Company’s insider trading policy. The Quinlan Trad…
No other directors or officers adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense conditions of a Rule 10b5-1(c) trading arrangement or a non-Rule 10b5-1 trading arrangement as such terms are…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice