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

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
Prologis, Inc.	2015		2014			2015			2014
Net earnings attributable to common stockholders	$	258,979	$	136,245		$	744,425		$	213,626
Noncontrolling interests attributable to exchangeable limited partnership units		3,203		493			7,331			767
Gains, net of expenses, associated with exchangeable debt assumed exchanged		-		(18,658	)		(1,614	)		-
Adjusted net earnings attributable to common stockholders	$	262,182	$	118,080		$	750,142		$	214,393

Weighted average common shares outstanding – Basic (1)		523,528		499,292			520,388			499,045
Incremental weighted average effect on exchange of limited partnership units (2)		6,685		1,843			5,875			1,792
Incremental weighted average effect of equity awards and warrant		1,860		3,074			1,953			3,374
Incremental weighted average effect on exchange of exchangeable debt (3)		-		11,879			2,905			-
Weighted average common shares outstanding – Diluted (4)		532,073		516,088			531,121			504,211

Net earnings per share attributable to common stockholders:
Basic	$	0.49	$	0.27		$	1.43		$	0.43
Diluted	$	0.49	$	0.23		$	1.41		$	0.43

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
Prologis, L.P.	2015		2014			2015			2014
Net earnings attributable to common unitholders	$	262,155	$	136,738		$	750,181		$	214,393
Noncontrolling interests attributable to exchangeable limited partnership units		27		-			1,575			-
Gains, net of expenses, associated with exchangeable debt assumed exchanged		-		(18,658	)		(1,614	)		-
Adjusted net earnings attributable to common unitholders	$	262,182	$	118,080		$	750,142		$	214,393

Weighted average common partnership units outstanding – Basic (1)		530,044		501,135			524,411			500,837
Incremental weighted average effect on exchange of limited partnership units		169		-			1,852			-
Incremental weighted average effect of equity awards and warrant of Prologis, Inc.		1,860		3,074			1,953			3,374
Incremental weighted average effect on exchange of exchangeable debt (3)		-		11,879			2,905			-
Weighted average common partnership units outstanding – Diluted (4)		532,073		516,088			531,121			504,211

Net earnings per unit attributable to common unitholders:
Basic	$	0.49	$	0.27		$	1.43		$	0.43
Diluted	$	0.49	$	0.23		$	1.41		$	0.43

(1)	The increase in shares/units between the periods is primarily due to a warrant Norges Bank Investment Management exercised in December 2014, the ATM program activity in late 2014 and early 2015 and the conversion of exchangeable debt to shares/units in March 2015.

(2)

Earnings allocated to the exchangeable Operating Partnership units not held by the Parent has been included in the numerator and exchangeable Operating Partnership units have been included in the denominator for the purpose of computing diluted earnings per share for all periods as the per share/unit amount is the same. The incremental weighted average exchangeable Operating Partnership units were 6,516 and 1,843 for the three months ended September 30, 2015, and 2014, respectively, and 4,023 and 1,792 for the nine months ended September 30, 2015, and 2014, respectively.

(3)	In March 2015, the exchangeable debt was settled primarily through the issuance of common stock. The adjustment in 2015 assumes the exchange occurred on January 1, 2015.

(4)	Our total potentially dilutive shares/units outstanding consisted of the following:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014
Total potentially dilutive stock awards and warrant		7,359		14,170		7,392		14,903
Total weighted average potentially dilutive shares/units from exchangeable debt		-		11,879		2,905		11,879
Total weighted average effect on exchange of potentially dilutive limited partnership units		1,835		1,944		1,852		1,947