Earnings Per Common Share or Unit (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share Unit

The computation of our basic and diluted earnings per share and unit was as follows (in thousands, except per share and unit amounts):

	Three Months Ended
	March 31,
Prologis, Inc.	2024		2023
Net earnings attributable to common stockholders – Basic	$	584,263	$	463,170
Net earnings attributable to exchangeable limited partnership units (1)		14,852		11,743
Adjusted net earnings attributable to common stockholders – Diluted	$	599,115	$	474,913
Weighted average common shares outstanding – Basic		925,322		923,888
Incremental weighted average effect on exchange of limited partnership units (1)		23,555		23,535
Incremental weighted average effect of equity awards		5,035		4,201
Weighted average common shares outstanding – Diluted (2)		953,912		951,624
Net earnings per share attributable to common stockholders:
Basic	$	0.63	$	0.50
Diluted	$	0.63	$	0.50

	Three Months Ended
	March 31,
Prologis, L.P.	2024			2023
Net earnings attributable to common unitholders	$	599,047		$	474,819
Net earnings attributable to Class A Units		(5,132	)		(4,045	)
Net earnings attributable to common unitholders – Basic		593,915			470,774
Net earnings attributable to Class A Units		5,132			4,045
Net earnings attributable to exchangeable other limited partnership units		68			94
Adjusted net earnings attributable to common unitholders – Diluted	$	599,115		$	474,913
Weighted average common partnership units outstanding – Basic		940,608			939,054
Incremental weighted average effect on exchange of Class A Units		8,128			8,070
Incremental weighted average effect on exchange of other limited partnership units		141			299
Incremental weighted average effect of equity awards of Prologis, Inc.		5,035			4,201
Weighted average common units outstanding – Diluted (2)		953,912			951,624
Net earnings per unit attributable to common unitholders:
Basic	$	0.63		$	0.50
Diluted	$	0.63		$	0.50

(1)Earnings allocated to the exchangeable OP units not held by the Parent have been included in the numerator and exchangeable common units have been included in the denominator for the purpose of computing diluted earnings per share for all periods as the per share and unit amount is the same.

(2)Our total weighted average potentially dilutive shares and units outstanding consisted of the following:

	Three Months Ended
	March 31,
	2024		2023
Class A Units		8,128		8,070
Other limited partnership units		299		299
Equity awards		8,963		7,773
Prologis, L.P.		17,390		16,142
Common limited partnership units		15,286		15,166
Prologis, Inc.		32,676		31,308