XML 30 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues:        
Rental $ 476,865 $ 416,427 $ 1,331,315 $ 1,304,271
Rental recoveries 132,109 114,755 378,281 370,221
Strategic capital 71,142 68,042 279,800 305,741
Development management and other 2,316 3,650 7,968 17,979
Total revenues 682,432 602,874 1,997,364 1,998,212
Expenses:        
Rental 147,184 128,735 423,454 429,185
Strategic capital 35,390 35,996 114,100 119,781
General and administrative 62,244 57,656 182,287 171,350
Depreciation and amortization 252,702 201,903 660,456 656,639
Other 3,391 3,093 11,145 8,608
Total expenses 500,911 427,383 1,391,442 1,385,563
Operating income 181,521 175,491 605,922 612,649
Other income (expense):        
Earnings from unconsolidated entities, net 56,634 55,066 181,839 172,267
Interest expense (64,186) (64,190) (166,761) (212,456)
Interest and other income, net 1,891 4,816 9,508 9,493
Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net 194,058 779,053 483,430 959,384
Foreign currency and derivative gains (losses), net 21,513 (18,872) 65,801 (46,327)
Losses on early extinguishment of debt, net (1,955) 0 (2,657) (30,596)
Total other income 207,955 755,873 571,160 851,765
Earnings before income taxes 389,476 931,364 1,177,082 1,464,414
Total income tax expense 13,956 17,947 44,612 42,328
Consolidated net earnings 375,520 913,417 1,132,470 1,422,086
Less net earnings attributable to noncontrolling interests 27,684 35,524 81,169 70,647
Net earnings attributable to controlling interests 347,836 877,893 1,051,301 1,351,439
Less preferred stock/unit dividends/distributions 1,491 1,675 4,443 5,023
Net earnings attributable to common stockholders/unitholders $ 346,345 $ 876,218 $ 1,046,858 $ 1,346,416
Weighted average common shares/units outstanding - Basic 574,520 531,288 546,612 530,036
Weighted average common shares/units outstanding - Diluted 597,647 554,163 568,599 551,618
Net earnings per share attributable to common stockholders/unitholders - Basic $ 0.60 $ 1.65 $ 1.92 $ 2.54
Net earnings per share attributable to common stockholders/unitholders - Diluted 0.60 1.63 1.90 2.51
Dividends or Distributions per common share or unit $ 0.48 $ 0.44 $ 1.44 $ 1.32
Prologis, L.P. [Member]        
Revenues:        
Rental $ 476,865 $ 416,427 $ 1,331,315 $ 1,304,271
Rental recoveries 132,109 114,755 378,281 370,221
Strategic capital 71,142 68,042 279,800 305,741
Development management and other 2,316 3,650 7,968 17,979
Total revenues 682,432 602,874 1,997,364 1,998,212
Expenses:        
Rental 147,184 128,735 423,454 429,185
Strategic capital 35,390 35,996 114,100 119,781
General and administrative 62,244 57,656 182,287 171,350
Depreciation and amortization 252,702 201,903 660,456 656,639
Other 3,391 3,093 11,145 8,608
Total expenses 500,911 427,383 1,391,442 1,385,563
Operating income 181,521 175,491 605,922 612,649
Other income (expense):        
Earnings from unconsolidated entities, net 56,634 55,066 181,839 172,267
Interest expense (64,186) (64,190) (166,761) (212,456)
Interest and other income, net 1,891 4,816 9,508 9,493
Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net 194,058 779,053 483,430 959,384
Foreign currency and derivative gains (losses), net 21,513 (18,872) 65,801 (46,327)
Losses on early extinguishment of debt, net (1,955) 0 (2,657) (30,596)
Total other income 207,955 755,873 571,160 851,765
Earnings before income taxes 389,476 931,364 1,177,082 1,464,414
Total income tax expense 13,956 17,947 44,612 42,328
Consolidated net earnings 375,520 913,417 1,132,470 1,422,086
Less net earnings attributable to noncontrolling interests 17,264 11,411 50,204 33,534
Net earnings attributable to controlling interests 358,256 902,006 1,082,266 1,388,552
Less preferred stock/unit dividends/distributions 1,491 1,675 4,443 5,023
Net earnings attributable to common stockholders/unitholders $ 356,765 $ 900,331 $ 1,077,823 $ 1,383,529
Weighted average common shares/units outstanding - Basic 583,363 537,257 554,313 536,021
Weighted average common shares/units outstanding - Diluted 597,647 554,163 568,599 551,618
Net earnings per share attributable to common stockholders/unitholders - Basic $ 0.60 $ 1.65 $ 1.92 $ 2.54
Net earnings per share attributable to common stockholders/unitholders - Diluted 0.60 1.63 1.90 2.51
Dividends or Distributions per common share or unit $ 0.48 $ 0.44 $ 1.44 $ 1.32