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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues:    
Rental $ 1,827,658 $ 1,633,770
Strategic capital 128,412 134,701
Development management and other 551 116
Total revenues 1,956,621 1,768,587
Expenses:    
Rental 454,257 412,554
Strategic capital 78,811 71,709
General and administrative 111,291 99,777
Depreciation and amortization 637,505 602,367
Other 12,244 7,184
Total expenses 1,294,108 1,193,591
Operating income before gains on real estate transactions, net 662,513 574,996
Gains on dispositions of development properties and land, net 40,308 0
Gains on other dispositions of investments in real estate, net 17,534 4,047
Operating income 720,355 579,043
Other income (expense):    
Earnings from unconsolidated entities, net 72,472 75,779
Interest expense (193,320) (136,011)
Foreign currency, derivative and other gains and other income, net 63,564 8,614
Gains on early extinguishment of debt, net 536 3,275
Total other expense (56,748) (48,343)
Earnings before income taxes 663,607 530,700
Income tax expense (32,800) (32,071)
Consolidated net earnings 630,807 498,629
Less net earnings attributable to noncontrolling interests 45,092 34,006
Net earnings attributable to controlling interests 585,715 464,623
Less preferred stock/unit dividends/distributions 1,452 1,453
Net earnings attributable to common stockholders/unitholders $ 584,263 $ 463,170
Weighted average common shares/units outstanding - Basic 925,322 923,888
Weighted average common shares/units outstanding - Diluted [1] 953,912 951,624
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 0.63 $ 0.50
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 0.63 $ 0.50
Prologis, L.P. [Member]    
Revenues:    
Rental $ 1,827,658 $ 1,633,770
Strategic capital 128,412 134,701
Development management and other 551 116
Total revenues 1,956,621 1,768,587
Expenses:    
Rental 454,257 412,554
Strategic capital 78,811 71,709
General and administrative 111,291 99,777
Depreciation and amortization 637,505 602,367
Other 12,244 7,184
Total expenses 1,294,108 1,193,591
Operating income before gains on real estate transactions, net 662,513 574,996
Gains on dispositions of development properties and land, net 40,308 0
Gains on other dispositions of investments in real estate, net 17,534 4,047
Operating income 720,355 579,043
Other income (expense):    
Earnings from unconsolidated entities, net 72,472 75,779
Interest expense (193,320) (136,011)
Foreign currency, derivative and other gains and other income, net 63,564 8,614
Gains on early extinguishment of debt, net 536 3,275
Total other expense (56,748) (48,343)
Earnings before income taxes 663,607 530,700
Income tax expense (32,800) (32,071)
Consolidated net earnings 630,807 498,629
Less net earnings attributable to noncontrolling interests 30,308 22,357
Net earnings attributable to controlling interests 600,499 476,272
Less preferred stock/unit dividends/distributions 1,452 1,453
Net earnings attributable to common stockholders/unitholders $ 599,047 $ 474,819
Weighted average common shares/units outstanding - Basic 940,608 939,054
Weighted average common shares/units outstanding - Diluted [1] 953,912 951,624
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 0.63 $ 0.50
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 0.63 $ 0.50
[1] Our total weighted average potentially dilutive shares and units outstanding consisted of the following: