Earnings (Loss) Per Common Share/Unit

12 Months Ended

Dec. 31, 2011

Earnings (Loss) Per Common Share/Unit [Abstract]

Earnings (Loss) Per Common Share Unit

18. Earnings (Loss) Per Common Share / Unit

We determine basic earnings per share/unit based on the weighted average number of shares of common stock/units outstanding during the period. We compute diluted earnings per share/unit based on the weighted average number of shares of common stock/units outstanding combined with the incremental weighted average effect from all outstanding potentially dilutive instruments.

The following table sets forth the computation of our basic and diluted earnings per share/unit for the years ended December 31 (in thousands, except per share/unit amounts):

REIT	2011 (1)		2010 (1)(2)		2009 (1)(2)
Net loss attributable to common shares	$	(188,110)	$	(1,295,920)	$	(2,650)
Weighted average common shares outstanding - Basic and Diluted (3)		370,534		219,515		179,966
Net loss per share attributable to common shares - Basic and Diluted	$	(0.51)	$	(5.90)	$	(0.01)
Operating Partnership
Net loss attributable to common unitholders	$	(188,459)	$	(1,295,920)	$	(2,650)
Weighted average common partnership units outstanding - Basic and Diluted (3)		371,730		219,515		179,966
Net loss per unit attributable to common unitholders - Basic and Diluted	$	(0.51)	$	(5.90)	$	(0.01)

(1) In periods with a net loss, the inclusion of any incremental shares is anti-dilutive, and therefore, both basic and diluted shares/units are the same.

(2) As a result of the Merger, the historical shares of ProLogis were adjusted by the Merger exchange ratio of 0.4464 for all periods presented. As a result, the per share/unit calculations and shares/units outstanding were also adjusted.

(3) Total weighted average potentially dilutive share awards outstanding (in thousands) for the years ended December 31, 2011, 2010 and 2009 were 7,648, 4,498 and 5,151, respectively.