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Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Detail) - Unconsolidated Co-Investment Ventures [Member]
ft² in Millions, $ in Millions
3 Months Ended
Mar. 31, 2017
USD ($)
ft²
Property
Venture
Mar. 31, 2016
USD ($)
ft²
Property
Venture
Dec. 31, 2016
USD ($)
ft²
Property
Venture
Schedule Of Equity Method Investments [Line Items]      
Number of ventures | Venture 9 9 9
Number of operating properties owned | Property 1,382 1,348 1,367
Square feet | ft² 296 280 291
Total assets $ 24,086 $ 23,431 $ 23,057
Third-party debt 6,678 6,396 6,546
Total liabilities 8,046 7,755 7,876
Our investment balance [1] 4,096 4,712 $ 4,058
Revenues 500 475  
Net earnings $ 150 $ 139  
U.S. [Member]      
Schedule Of Equity Method Investments [Line Items]      
Number of ventures | Venture 1 1 1
Number of operating properties owned | Property 381 381 369
Square feet | ft² 51 50 50
Total assets $ 4,293 $ 4,382 $ 4,238
Third-party debt 1,340 1,447 1,414
Total liabilities 1,424 1,528 1,540
Our investment balance [1] 430 688 $ 435
Revenues 104 98  
Net earnings $ 36 $ 30  
Other Americas [Member]      
Schedule Of Equity Method Investments [Line Items]      
Number of ventures | Venture 2 2 2
Number of operating properties owned | Property 214 206 213
Square feet | ft² 43 39 42
Total assets $ 2,836 $ 2,600 $ 2,793
Third-party debt 737 659 739
Total liabilities 812 756 814
Our investment balance [1] 849 817 $ 845
Revenues 64 57  
Net earnings $ 17 $ 14  
Europe [Member]      
Schedule Of Equity Method Investments [Line Items]      
Number of ventures | Venture [2],[3] 4 4 4
Number of operating properties owned | Property 702 688 700
Square feet | ft² 165 159 163
Total assets $ 11,596 $ 11,538 $ 10,853
Third-party debt 2,546 2,511 2,446
Total liabilities 3,463 3,448 3,283
Our investment balance [1] 2,353 2,759 $ 2,327
Revenues 244 244  
Net earnings $ 73 $ 73  
Asia [Member]      
Schedule Of Equity Method Investments [Line Items]      
Number of ventures | Venture 2 2 2
Number of operating properties owned | Property 85 73 85
Square feet | ft² 37 32 36
Total assets $ 5,361 $ 4,911 $ 5,173
Third-party debt 2,055 1,779 1,947
Total liabilities 2,347 2,023 2,239
Our investment balance [1] 464 448 $ 451
Revenues 88 76  
Net earnings $ 24 $ 22  
Weighted Average [Member]      
Schedule Of Equity Method Investments [Line Items]      
Our weighted average ownership [4] 26.90% 31.10% 27.90%
Weighted Average [Member] | U.S. [Member]      
Schedule Of Equity Method Investments [Line Items]      
Our weighted average ownership [4] 14.20% 22.50% 14.90%
Weighted Average [Member] | Other Americas [Member]      
Schedule Of Equity Method Investments [Line Items]      
Our weighted average ownership [4] 43.90% 43.70% 43.90%
Weighted Average [Member] | Europe [Member]      
Schedule Of Equity Method Investments [Line Items]      
Our weighted average ownership [4] 33.20% 38.50% 35.10%
Weighted Average [Member] | Asia [Member]      
Schedule Of Equity Method Investments [Line Items]      
Our weighted average ownership [4] 15.10% 15.00% 15.10%
[1] The difference between our ownership interest of a venture’s equity and our investment balance at March 31, 2017, and December 31, 2016, results principally from three types of transactions: (i) deferring a portion of the gains we recognize from a contribution of a property to a venture ($465.3 million and $469.9 million, respectively); (ii) recording additional costs associated with our investment in a venture ($124.4 million and $124.1 million, respectively); and (iii) advances to a venture ($155.1 million and $166.1 million, respectively). Included in the advances to our ventures at March 31, 2017, and December 31, 2016, were receivables from Nippon Prologis REIT, Inc. (“NPR”) of $102.3 million and $96.9 million, respectively, related to customer security deposits that originated through a leasing company owned by us that pertain to properties owned by NPR. We have a corresponding payable to NPR’s customers in Other Liabilities.
[2] In February 2017, we formed the Prologis United Kingdom Logistics Venture (“UKLV”), an unconsolidated co-investment venture in which we have a 15.0% ownership interest. UKLV will acquire land, develop buildings and operate and hold logistics real estate assets in the United Kingdom (“U.K.”). Upon formation, we, along with our venture partner, committed £380.0 million ($474.9 million at March 31, 2017), of which our share is £57.0 million ($71.2 million at March 31, 2017). In February 2017, we contributed a portfolio of 3.9 million square feet of stabilized properties, properties under development and land for approximately £202.9 million ($252.1 million). We expect to continue to contribute properties into UKLV as they become stabilized, along with land.
[3] In January 2017, we sold our investment in ELV to our fund partner for $84.3 million and ELV contributed its properties to Prologis Targeted Europe Logistics Fund (“PTELF”) in exchange for equity interests.
[4] Represents our weighted average ownership interest in all co-investment ventures based on each entity’s contribution of total assets, before depreciation, net of other liabilities.