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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Rental $ 447,960 $ 426,150 $ 887,844 $ 863,254
Rental recoveries 128,417 119,981 255,466 236,993
Strategic capital 180,654 53,535 237,699 104,538
Development management and other 9,152 2,489 14,329 3,670
Total revenues 766,183 602,155 1,395,338 1,208,455
Expenses:        
Rental 147,794 140,725 300,450 287,306
Strategic capital 51,986 27,866 83,785 53,159
General and administrative 60,077 56,934 113,694 107,477
Depreciation and amortization 228,145 230,382 454,736 480,382
Other 2,909 3,900 5,515 8,585
Total expenses 490,911 459,807 958,180 936,909
Operating income 275,272 142,348 437,158 271,546
Other income (expense):        
Earnings from unconsolidated entities, net 68,596 41,454 117,201 99,765
Interest expense (75,354) (76,455) (148,266) (157,267)
Interest and other income, net 1,892 1,527 4,677 4,118
Gains on dispositions of investments in real estate, net 83,006 200,350 180,331 344,667
Foreign currency and derivative losses, net (20,055) (10,335) (27,455) (24,546)
Gains (losses) on early extinguishment of debt, net (30,596) 2,044 (30,596) 992
Total other income 27,489 158,585 95,892 267,729
Earnings before income taxes 302,761 300,933 533,050 539,275
Total income tax expense 14,781 5,142 24,381 20,679
Consolidated net earnings 287,980 295,791 508,669 518,596
Less net earnings attributable to noncontrolling interests 19,363 18,712 35,123 31,787
Net earnings attributable to controlling interests 268,617 277,079 473,546 486,809
Less preferred stock/unit dividends/distributions 1,674 1,696 3,348 3,385
Net earnings attributable to common stockholders/unitholders $ 266,943 $ 275,383 $ 470,198 $ 483,424
Weighted average common shares/units outstanding – Basic 530,040 524,842 529,400 524,540
Weighted average common shares/units outstanding - Diluted 552,114 545,388 550,512 544,293
Net earnings per share attributable to common stockholders/unitholders - Basic $ 0.50 $ 0.52 $ 0.89 $ 0.92
Net earnings per share attributable to common stockholders/unitholders - Diluted 0.50 0.52 0.88 0.92
Dividends per common share or unit $ 0.44 $ 0.42 $ 0.88 $ 0.84
Prologis, L.P. [Member]        
Revenues:        
Rental $ 447,960 $ 426,150 $ 887,844 $ 863,254
Rental recoveries 128,417 119,981 255,466 236,993
Strategic capital 180,654 53,535 237,699 104,538
Development management and other 9,152 2,489 14,329 3,670
Total revenues 766,183 602,155 1,395,338 1,208,455
Expenses:        
Rental 147,794 140,725 300,450 287,306
Strategic capital 51,986 27,866 83,785 53,159
General and administrative 60,077 56,934 113,694 107,477
Depreciation and amortization 228,145 230,382 454,736 480,382
Other 2,909 3,900 5,515 8,585
Total expenses 490,911 459,807 958,180 936,909
Operating income 275,272 142,348 437,158 271,546
Other income (expense):        
Earnings from unconsolidated entities, net 68,596 41,454 117,201 99,765
Interest expense (75,354) (76,455) (148,266) (157,267)
Interest and other income, net 1,892 1,527 4,677 4,118
Gains on dispositions of investments in real estate, net 83,006 200,350 180,331 344,667
Foreign currency and derivative losses, net (20,055) (10,335) (27,455) (24,546)
Gains (losses) on early extinguishment of debt, net (30,596) 2,044 (30,596) 992
Total other income 27,489 158,585 95,892 267,729
Earnings before income taxes 302,761 300,933 533,050 539,275
Total income tax expense 14,781 5,142 24,381 20,679
Consolidated net earnings 287,980 295,791 508,669 518,596
Less net earnings attributable to noncontrolling interests 11,986 10,396 22,123 17,237
Net earnings attributable to controlling interests 275,994 285,395 486,546 501,359
Less preferred stock/unit dividends/distributions 1,674 1,696 3,348 3,385
Net earnings attributable to common stockholders/unitholders $ 274,320 $ 283,699 $ 483,198 $ 497,974
Weighted average common shares/units outstanding – Basic 536,060 531,912 535,392 531,507
Weighted average common shares/units outstanding - Diluted 552,114 545,388 550,512 544,293
Net earnings per share attributable to common stockholders/unitholders - Basic $ 0.50 $ 0.52 $ 0.89 $ 0.92
Net earnings per share attributable to common stockholders/unitholders - Diluted 0.50 0.52 0.88 0.92
Dividends per common share or unit $ 0.44 $ 0.42 $ 0.88 $ 0.84