Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Ownership Percentages and Noncontrolling Interests

The following table summarizes these entities at December 31 (dollars in thousands):


	Our Ownership Percentage						Noncontrolling Interests				Total Assets				Total Liabilities
	2023			2022			2023		2022		2023		2022		2023		2022
Prologis U.S. Logistics Venture		55.0	%		55.0	%	$	3,147,790	$	3,182,858	$	7,142,889	$	7,225,438	$	156,303	$	158,453
Other consolidated entities (1)	various			various				176,485		134,909		2,369,959		1,737,311		333,114		259,524
Prologis, L.P.								3,324,275		3,317,767		9,512,848		8,962,749		489,417		417,977
Limited partners in Prologis, L.P. (2)(3)								1,317,721		1,308,044		-		-		-		-
Prologis, Inc.							$	4,641,996	$	4,625,811	$	9,512,848	$	8,962,749	$	489,417	$	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 December 31, 2023 and 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 at December 31, 2023 and 2022, that were convertible into 8.2 million and 8.0 million, respectively, limited partnership units of the OP at the end of each year. See Note 10 for further discussion of our Class A Units.

(3)

There were limited partnership units in the OP, excluding the Class A Units, that were exchangeable into cash or, at our option, 9.1 million and 10.0 million shares of the Parent’s common stock, at December 31, 2023 and 2022, respectively. Also included are the vested OP Long-Term Incentive Plan Units (“LTIP Units”) associated with our long-term compensation plans of 5.7 million and 4.6 million shares of the Parent’s common stock at December 31, 2023 and 2022, respectively. See further discussion of LTIP Units in Note 12.