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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
Prologis, Inc.	2016		2015		2016		2015
Net earnings attributable to common stockholders – Basic	$	275,383	$	140,240	$	483,424	$	485,446
Net earnings attributable to exchangeable limited partnership units (1)		9,085		1,623		15,694		3,273
Gains, net of expenses, associated with exchangeable debt assumed exchanged (2)		-		-		-		(1,614	)
Adjusted net earnings attributable to common stockholders – Diluted	$	284,468	$	141,863	$	499,118	$	487,105

Weighted average common shares outstanding – Basic (3)		524,842		523,476		524,540		518,791
Incremental weighted average effect on exchange of limited partnership units (1)		17,703		5,431		17,623		4,617
Incremental weighted average effect of equity awards		2,843		1,733		2,130		2,037
Incremental weighted average effect on exchangeable debt assumed exchanged (2)		-		-		-		4,382
Weighted average common shares outstanding – Diluted (4)		545,388		530,640		544,293		529,827

Net earnings per share attributable to common stockholders:
Basic	$	0.52	$	0.27	$	0.92	$	0.94
Diluted	$	0.52	$	0.27	$	0.92	$	0.92

	Three Months Ended					Six Months Ended
	June 30,					June 30,
Prologis, L.P.	2016			2015		2016			2015
Net earnings attributable to common unitholders	$	283,699		$	141,538	$	497,974		$	488,026
Net earnings attributable to Class A convertible common unitholders		(4,619	)		-		(8,129	)		-
Net earnings attributable to common unitholders – Basic	$	279,080		$	141,538	$	489,845		$	488,026
Net earnings attributable to Class A convertible common unitholders		4,619			-		8,129			-
Net earnings attributable to exchangeable limited partnership units		768			325		1,143			693
Gains, net of expenses, associated with exchangeable debt assumed exchanged (2)		-			-		-			(1,614	)
Adjusted net earnings attributable to common unitholders – Diluted	$	284,467		$	141,863	$	499,117		$	487,105

Weighted average common partnership units outstanding – Basic (3)		531,912			527,071		531,507			521,548
Incremental weighted average effect on exchange of Class A convertible units		8,798			-		8,821			-
Incremental weighted average effect on exchange of limited partnership units		1,835			1,836		1,835			1,860
Incremental weighted average effect of equity awards of Prologis, Inc.		2,843			1,733		2,130			2,037
Incremental weighted average effect on exchangeable debt assumed exchanged (2)		-			-		-			4,382
Weighted average common partnership units outstanding – Diluted (4)		545,388			530,640		544,293			529,827

Net earnings per unit attributable to common unitholders:
Basic	$	0.52		$	0.27	$	0.92		$	0.94
Diluted	$	0.52		$	0.27	$	0.92		$	0.92

(1)

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 and unit amount is the same.

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

(3)	The increase in shares and units between the periods is primarily due the at-the-market program activity in early 2015 and the conversion of exchangeable debt to shares and units in March 2015.

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2016		2015		2016		2015
Total weighted average potentially dilutive limited partnership units		10,633		1,836		10,656		1,860
Total potentially dilutive stock awards		7,176		7,456		6,854		7,408
Total weighted average potentially dilutive shares and units from exchangeable debt		-		-		-		4,382
Total Prologis, L.P.		17,809		9,292		17,510		13,650
Limited partners in Prologis, L.P.		7,070		3,595		6,967		2,757
Total Prologis, Inc.		24,879		12,887		24,477		16,407