XML 39 R8.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Operating activities:    
Consolidated net earnings $ 373,765 $ 391,959
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Straight-lined rents and amortization of above and below market leases (27,912) (15,060)
Equity-based compensation awards 31,758 19,996
Depreciation and amortization 284,009 204,081
Earnings from unconsolidated entities, net (56,666) (62,656)
Operating distributions from unconsolidated entities 96,401 85,229
Decrease (increase) in operating receivables from unconsolidated entities 49,488 (67,223)
Amortization of debt discounts, net and debt issuance costs 4,162 3,014
Gains on real estate transactions, net (188,208) (195,111)
Unrealized foreign currency and derivative losses (gains), net (7,158) 34,145
Losses on early extinguishment of debt, net 2,116 0
Deferred income tax expense (benefit) 793 (2,064)
Increase in accounts receivable, lease right-of-use assets and other assets (13,470) (2,705)
Decrease in accounts payable and accrued expenses, lease liabilities and other liabilities (54,164) (44,364)
Net cash provided by operating activities 494,914 349,241
Investing activities:    
Real estate development (368,596) (365,837)
Real estate acquisitions (274,528) (112,621)
Tenant improvements and lease commissions on previously leased space (40,338) (28,027)
Property improvements (13,612) (10,456)
Proceeds from dispositions and contributions of real estate properties 595,496 579,429
Investments in and advances to unconsolidated entities (75,559) (52,131)
Return of investment from unconsolidated entities 355,539 111,211
Proceeds from repayment of notes receivable backed by real estate 0 34,260
Proceeds from the settlement of net investment hedges 9,761 0
Payments on the settlement of net investment hedges (28,524) (3,966)
Net cash provided by investing activities 159,639 151,862
Financing activities:    
Proceeds from issuance of common stock/units 2,482 1,233
Dividends/distributions paid on common and preferred stock/units (336,094) (257,687)
Noncontrolling interests contributions 6,538 850
Noncontrolling interests distributions (47,643) (41,402)
Settlement of noncontrolling interests (40,223) (15,776)
Tax paid for shares withheld (21,094) (26,479)
Debt issuance costs paid (14,692) (1,002)
Net proceeds from (payments on) credit facilities (24,565) 12,138
Repurchase of and payments on debt (1,418,438) (696,011)
Proceeds from the issuance of debt 1,145,095 528,167
Net cash used in financing activities (748,634) (495,969)
Effect of foreign currency exchange rate changes on cash 1,255 5,919
Net increase (decrease) in cash and cash equivalents (92,826) 11,053
Cash and cash equivalents, beginning of period 343,856 447,046
Cash and cash equivalents, end of period 251,030 458,099
Prologis, L.P. [Member]    
Operating activities:    
Consolidated net earnings 373,765 391,959
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Straight-lined rents and amortization of above and below market leases (27,912) (15,060)
Equity-based compensation awards 31,758 19,996
Depreciation and amortization 284,009 204,081
Earnings from unconsolidated entities, net (56,666) (62,656)
Operating distributions from unconsolidated entities 96,401 85,229
Decrease (increase) in operating receivables from unconsolidated entities 49,488 (67,223)
Amortization of debt discounts, net and debt issuance costs 4,162 3,014
Gains on real estate transactions, net (188,208) (195,111)
Unrealized foreign currency and derivative losses (gains), net (7,158) 34,145
Losses on early extinguishment of debt, net 2,116 0
Deferred income tax expense (benefit) 793 (2,064)
Increase in accounts receivable, lease right-of-use assets and other assets (13,470) (2,705)
Decrease in accounts payable and accrued expenses, lease liabilities and other liabilities (54,164) (44,364)
Net cash provided by operating activities 494,914 349,241
Investing activities:    
Real estate development (368,596) (365,837)
Real estate acquisitions (274,528) (112,621)
Tenant improvements and lease commissions on previously leased space (40,338) (28,027)
Property improvements (13,612) (10,456)
Proceeds from dispositions and contributions of real estate properties 595,496 579,429
Investments in and advances to unconsolidated entities (75,559) (52,131)
Return of investment from unconsolidated entities 355,539 111,211
Proceeds from repayment of notes receivable backed by real estate 0 34,260
Proceeds from the settlement of net investment hedges 9,761 0
Payments on the settlement of net investment hedges (28,524) (3,966)
Net cash provided by investing activities 159,639 151,862
Financing activities:    
Proceeds from issuance of common stock/units 2,482 1,233
Dividends/distributions paid on common and preferred stock/units (349,231) (268,143)
Noncontrolling interests contributions 6,538 850
Noncontrolling interests distributions (34,506) (30,946)
Settlement of noncontrolling interests (21,093) (2,520)
Redemption of common limited partnership units (19,130) (13,256)
Tax paid for shares of the Parent withheld (21,094) (26,479)
Debt issuance costs paid (14,692) (1,002)
Net proceeds from (payments on) credit facilities (24,565) 12,138
Repurchase of and payments on debt (1,418,438) (696,011)
Proceeds from the issuance of debt 1,145,095 528,167
Net cash used in financing activities (748,634) (495,969)
Effect of foreign currency exchange rate changes on cash 1,255 5,919
Net increase (decrease) in cash and cash equivalents (92,826) 11,053
Cash and cash equivalents, beginning of period 343,856 447,046
Cash and cash equivalents, end of period $ 251,030 $ 458,099