Earnings Per Common Share or Unit (Tables)

9 Months Ended

Sep. 30, 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				Nine Months Ended
	September 30,				September 30,
Prologis, Inc.	2024		2023		2024		2023
Net earnings attributable to common stockholders – Basic	$	1,004,267	$	746,174	$	2,448,375	$	2,423,897
Net earnings attributable to exchangeable limited partnership units (1)		25,130		19,054		61,851		61,497
Adjusted net earnings attributable to common stockholders – Diluted	$	1,029,397	$	765,228	$	2,510,226	$	2,485,394
Weighted average common shares outstanding – Basic		926,427		924,395		926,017		924,228
Incremental weighted average effect on exchange of limited      partnership units (1)		23,191		23,627		23,424		23,615
Incremental weighted average effect of equity awards		4,195		3,886		4,089		3,800
Weighted average common shares outstanding – Diluted (2)		953,813		951,908		953,530		951,643
Net earnings per share attributable to common stockholders:
Basic	$	1.08	$	0.81	$	2.64	$	2.62
Diluted	$	1.08	$	0.80	$	2.63	$	2.61

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
Prologis, L.P.	2024			2023			2024			2023
Net earnings attributable to common unitholders	$	1,029,271		$	765,075		$	2,509,514		$	2,485,047
Net earnings attributable to Class A Units		(8,018	)		(6,557	)		(20,084	)		(21,231	)
Net earnings attributable to common unitholders – Basic		1,021,253			758,518			2,489,430			2,463,816
Net earnings attributable to Class A Units		8,018			6,557			20,084			21,231
Net earnings attributable to exchangeable other limited      partnership units		126			153			712			347
Adjusted net earnings attributable to common unitholders – Diluted	$	1,029,397		$	765,228		$	2,510,226		$	2,485,394
Weighted average common partnership units outstanding – Basic		942,137			939,602			941,545			939,448
Incremental weighted average effect on exchange of Class A Units		7,322			8,121			7,597			8,096
Incremental weighted average effect on exchange of other limited      partnership units		159			299			299			299
Incremental weighted average effect of equity awards of Prologis, Inc.		4,195			3,886			4,089			3,800
Weighted average common units outstanding – Diluted (2)		953,813			951,908			953,530			951,643
Net earnings per unit attributable to common unitholders:
Basic	$	1.08		$	0.81		$	2.64		$	2.62
Diluted	$	1.08		$	0.80		$	2.63		$	2.61

(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				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
Class A Units		7,322		8,121		7,597		8,096
Other limited partnership units		299		299		299		299
Equity awards		7,314		7,252		7,942		7,347
Prologis, L.P.		14,935		15,672		15,838		15,742
Common limited partnership units		15,710		15,207		15,528		15,220
Prologis, Inc.		30,645		30,879		31,366		30,962