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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Rental $ 1,633,770 $ 1,076,861
Strategic capital 134,701 133,925
Development management and other 116 8,342
Total revenues 1,768,587 1,219,128
Expenses:    
Rental 412,554 275,674
Strategic capital 71,709 51,811
General and administrative 99,777 74,646
Depreciation and amortization 602,367 396,647
Other 7,184 9,589
Total expenses 1,193,591 808,367
Operating income before gains on real estate transactions, net 574,996 410,761
Gains on dispositions of development properties and land, net 0 210,206
Gains on other dispositions of investments in real estate, net 4,047 584,835
Operating income 579,043 1,205,802
Other income (expense):    
Earnings from unconsolidated entities, net 75,779 76,962
Interest expense (136,011) (64,064)
Foreign currency and derivative gains and other income, net 8,614 48,409
Gain (losses) on early extinguishment of debt, net 3,275 (18,165)
Total other income (expense) (48,343) 43,142
Earnings before income taxes 530,700 1,248,944
Income tax expense (32,071) (29,222)
Consolidated net earnings 498,629 1,219,722
Less net earnings attributable to noncontrolling interests 34,006 68,937
Net earnings attributable to controlling interests 464,623 1,150,785
Less preferred stock/unit dividends/distributions 1,453 1,531
Net earnings attributable to common stockholders/unitholders $ 463,170 $ 1,149,254
Weighted average common shares/units outstanding - Basic 923,888 740,368
Weighted average common shares/units outstanding - Diluted [1] 951,624 765,517
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 0.50 $ 1.55
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 0.50 $ 1.54
Prologis, L.P. [Member]    
Revenues:    
Rental $ 1,633,770 $ 1,076,861
Strategic capital 134,701 133,925
Development management and other 116 8,342
Total revenues 1,768,587 1,219,128
Expenses:    
Rental 412,554 275,674
Strategic capital 71,709 51,811
General and administrative 99,777 74,646
Depreciation and amortization 602,367 396,647
Other 7,184 9,589
Total expenses 1,193,591 808,367
Operating income before gains on real estate transactions, net 574,996 410,761
Gains on dispositions of development properties and land, net 0 210,206
Gains on other dispositions of investments in real estate, net 4,047 584,835
Operating income 579,043 1,205,802
Other income (expense):    
Earnings from unconsolidated entities, net 75,779 76,962
Interest expense (136,011) (64,064)
Foreign currency and derivative gains and other income, net 8,614 48,409
Gain (losses) on early extinguishment of debt, net 3,275 (18,165)
Total other income (expense) (48,343) 43,142
Earnings before income taxes 530,700 1,248,944
Income tax expense (32,071) (29,222)
Consolidated net earnings 498,629 1,219,722
Less net earnings attributable to noncontrolling interests 22,357 36,666
Net earnings attributable to controlling interests 476,272 1,183,056
Less preferred stock/unit dividends/distributions 1,453 1,531
Net earnings attributable to common stockholders/unitholders $ 474,819 $ 1,181,525
Weighted average common shares/units outstanding - Basic 939,054 753,159
Weighted average common shares/units outstanding - Diluted [1] 951,624 765,517
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 0.50 $ 1.55
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 0.50 $ 1.54
[1] Our total weighted average potentially dilutive shares and units outstanding consisted of the following: