Unconsolidated Entities (Tables)

3 Months Ended

Mar. 31, 2019

Schedule Of Equity Method Investments [Line Items]

Summary of Investments in and Advances to our Unconsolidated Entities

The following table summarizes our investments in and advances to our unconsolidated entities (in thousands):

	March 31,		December 31,
	2019		2018
Unconsolidated co-investment ventures	$	5,272,073	$	5,407,838
Other ventures		340,987		337,456
Total	$	5,613,060	$	5,745,294

Summary of Strategic Capital Revenues Recognized in Consolidated Statements of Income Related to Co-Investment Ventures

The following table summarizes the Strategic Capital Revenues we recognized in the Consolidated Statements of Income related to our unconsolidated co-investment ventures (in thousands):

	Three Months Ended March 31,
	2019		2018
Recurring fees	$	62,117	$	54,644
Transactional fees		11,348		15,624
Promote revenues		-		62,544
Total strategic capital revenues from unconsolidated co-investment ventures (1)	$	73,465	$	132,812

(1) These amounts exclude strategic capital revenues from other ventures.

Unconsolidated Co-Investment Ventures [Member]

Schedule Of Equity Method Investments [Line Items]

Summary of Investments in and Advances to our Unconsolidated Entities

The following table summarizes the key property information, financial position and operating information of our unconsolidated co-investment ventures (not our proportionate share) and the amounts we recognized in the Consolidated Financial Statements related to our unconsolidated co-investment ventures (dollars and square feet in millions):

	U.S.						Other Americas						Europe						Asia						Total
As of:	Mar 31, 2019			Dec 31, 2018			Mar 31, 2019 (1)			Dec 31, 2018			Mar 31, 2019			Dec 31, 2018			Mar 31, 2019			Dec 31, 2018			Mar 31, 2019			Dec 31, 2018
Key property information:
Ventures		1			1			2			2			3			3			2			2			8			8
Operating properties		566			566			215			209			679			669			131			125			1,591			1,569
Square feet		91			91			45			39			161			159			53			51			350			340
Financial position:
Unconsolidated co-investment ventures:
Total assets ($)		7,376			7,303			2,791			2,137			13,615			13,028			7,119			7,089			30,901			29,557
Third-party debt ($)		2,090			2,094			775			838			2,993			2,548			2,835			2,668			8,693			8,148
Total liabilities ($)		2,411			2,350			816			862			4,226			3,615			3,174			3,006			10,627			9,833
Our investment balance ($) (2)		1,441			1,457			669			554			2,574			2,784			588			613			5,272			5,408
Our weighted average ownership (3)      (4)		27.2	%		27.4	%		38.5	%		44.4	%		30.6	%		33.2	%		15.1	%		15.1	%		27.0	%		28.3	%
	U.S.						Other Americas						Europe						Asia						Total
Operating Information:	Mar 31, 2019			Mar 31, 2018			Mar 31, 2019			Mar 31, 2018			Mar 31, 2019			Mar 31, 2018			Mar 31, 2019			Mar 31, 2018			Mar 31, 2019			Mar 31, 2018
For the three months ended:
Unconsolidated co-investment ventures:
Total revenues ($)		179			168			67			53			271			288			120			108			637			617
Net earnings ($)		29			13			34			14			71			93			37			42			171			162
Our earnings from unconsolidated      co-investment ventures, net ($)		9			5			13			6			25			37			6			7			53			55

(1) PBLV and our other Brazilian joint ventures are combined and accounted for as one venture for the purpose of this table.

(2) Prologis’ investment balance is presented at our adjusted basis derived from the ventures’ U.S. GAAP information. The difference between our ownership interest of a venture’s equity and our investment balance at March 31, 2019 and December 31, 2018, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018 ($627.4 million and $635.9 million, respectively); (ii) recording additional costs associated with our investment in the venture ($88.4 million and $94.4 million, respectively); (iii) receivables, principally for fees and promotes ($100.9 million and $166.7 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to Nippon Prologis REIT, Inc. ($122.0 million for both periods).

(3) Represents our weighted average ownership interest in all unconsolidated co-investment ventures based on each entity’s contribution of total assets, before depreciation, net of other liabilities.

(4) In February 2019, we redeemed a portion of our investment in Prologis European Logistics Fund (“PELF”) for €278.2 million ($313.3 million). At March 31, 2019 our ownership in PELF was 24.3%.