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Earnings Per Common Share or Unit (Tables)
6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share Unit

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

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

Prologis, Inc.

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Net earnings attributable to common stockholders – Basic

 

$

334,611

 

 

$

266,943

 

 

$

700,513

 

 

$

470,198

 

Net earnings attributable to exchangeable limited partnership units (1)

 

 

10,216

 

 

 

7,798

 

 

 

20,909

 

 

 

13,765

 

Adjusted net earnings attributable to common stockholders – Diluted

 

$

344,827

 

 

$

274,741

 

 

$

721,422

 

 

$

483,963

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – Basic

 

 

532,639

 

 

 

530,040

 

 

 

532,427

 

 

 

529,400

 

Incremental weighted average effect on exchange of limited partnership units (1)

 

 

16,847

 

 

 

16,364

 

 

 

16,560

 

 

 

16,409

 

Incremental weighted average effect of equity awards

 

 

5,029

 

 

 

5,710

 

 

 

5,079

 

 

 

4,703

 

Weighted average common shares outstanding – Diluted (2)

 

 

554,515

 

 

 

552,114

 

 

 

554,066

 

 

 

550,512

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings per share attributable to common stockholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.63

 

 

$

0.50

 

 

$

1.32

 

 

$

0.89

 

Diluted

 

$

0.62

 

 

$

0.50

 

 

$

1.30

 

 

$

0.88

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

Prologis, L.P.

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Net earnings attributable to common unitholders

 

$

344,633

 

 

$

274,320

 

 

$

721,058

 

 

$

483,198

 

Net earnings attributable to Class A Units

 

 

(5,324

)

 

 

(4,347

)

 

 

(11,177

)

 

 

(7,678

)

Net earnings attributable to common unitholders – Basic

 

 

339,309

 

 

 

269,973

 

 

 

709,881

 

 

 

475,520

 

Net earnings attributable to Class A Units

 

 

5,324

 

 

 

4,347

 

 

 

11,177

 

 

 

7,678

 

Net earnings attributable to exchangeable other limited partnership units

 

 

194

 

 

 

421

 

 

 

364

 

 

 

765

 

Adjusted net earnings attributable to common unitholders – Diluted

 

$

344,827

 

 

$

274,741

 

 

$

721,422

 

 

$

483,963

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common partnership units outstanding – Basic

 

 

540,084

 

 

 

536,060

 

 

 

539,547

 

 

 

535,392

 

Incremental weighted average effect on exchange of Class A Units

 

 

8,477

 

 

 

8,626

 

 

 

8,495

 

 

 

8,645

 

Incremental weighted average effect on exchange of other limited partnership units

 

 

925

 

 

 

1,718

 

 

 

945

 

 

 

1,772

 

Incremental weighted average effect of equity awards of Prologis, Inc.

 

 

5,029

 

 

 

5,710

 

 

 

5,079

 

 

 

4,703

 

Weighted average common units outstanding – Diluted (2)

 

 

554,515

 

 

 

552,114

 

 

 

554,066

 

 

 

550,512

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings per unit attributable to common unitholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.63

 

 

$

0.50

 

 

$

1.32

 

 

$

0.89

 

Diluted

 

$

0.62

 

 

$

0.50

 

 

$

1.30

 

 

$

0.88

 

 

(1)

The exchangeable limited partnership units include the units as discussed in Note 6. Earnings allocated to the exchangeable OP units not held by the Parent have been included in the numerator and exchangeable common 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)

Our total weighted average potentially dilutive shares and units outstanding consisted of the following:  

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

 

June 30,

 

 

June 30,

 

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

Class A Units

 

 

8,477

 

 

 

8,626

 

 

 

8,495

 

 

 

8,645

 

 

Other limited partnership units

 

 

925

 

 

 

1,718

 

 

 

945

 

 

 

1,772

 

 

Equity awards

 

 

8,432

 

 

 

9,355

 

 

 

8,391

 

 

 

8,583

 

 

Prologis, L.P.

 

 

17,834

 

 

 

19,699

 

 

 

17,831

 

 

 

19,000

 

 

Common limited partnership units

 

 

7,445

 

 

 

6,020

 

 

 

7,120

 

 

 

5,992

 

 

Prologis, Inc.

 

 

25,279

 

 

 

25,719

 

 

 

24,951

 

 

 

24,992