Noncontrolling Interests (Tables)

3 Months Ended

Mar. 31, 2023

Summary of Ownership Percentages and Noncontrolling Interests

The following table summarizes these entities (dollars in thousands):


	Our Ownership Percentage						Noncontrolling Interests				Total Assets				Total Liabilities
	Mar 31, 2023			Dec 31, 2022			Mar 31, 2023		Dec 31, 2022		Mar 31, 2023		Dec 31, 2022		Mar 31, 2023		Dec 31, 2022
Prologis U.S. Logistics Venture		55.0	%		55.0	%	$	3,170,301	$	3,182,858	$	7,200,384	$	7,225,438	$	150,401	$	158,453
Other consolidated entities (1)	various			various				134,342		134,909		1,679,510		1,737,311		253,241		259,524
Prologis, L.P.								3,304,643		3,317,767		8,879,894		8,962,749		403,642		417,977
Limited partners in Prologis, L.P. (2)(3)								1,325,368		1,308,044		-		-		-		-
Prologis, Inc.							$	4,630,011	$	4,625,811	$	8,879,894	$	8,962,749	$	403,642	$	417,977

(1)

Includes two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. The limited partnership units outstanding at March 31, 2023 and December 31, 2022 were exchangeable into cash or, at our option, 0.3 million shares of the Parent’s common stock.

(2)

We had 8.6 million Class A Units that were convertible into 8.1 million and 8.0 million limited partnership units of the OP at March 31, 2023 and December 31, 2022, respectively.

(3)

There were limited partnership units in the OP, excluding the Class A Units, that were exchangeable into cash or, at our option, 9.7 million and 10.0 million shares of the Parent’s common stock, at March 31, 2023 and December 31, 2022, respectively. Also included are the vested OP Long-Term Incentive Plan Units (“LTIP Units”) associated with our long-term compensation plans of 5.4 million and 4.6 million shares of the Parent’s common stock at March 31, 2023 and December 31, 2022, respectively. See further discussion of LTIP Units in Note 8.