Unconsolidated Entities (Tables)

6 Months Ended

Jun. 30, 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):

	June 30,		December 31,
	2019		2018
Unconsolidated co-investment ventures	$	5,459,973	$	5,407,838
Other ventures		353,609		337,456
Total	$	5,813,582	$	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 June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Recurring fees	$	65,537	$	57,918	$	127,654	$	112,562
Transactional fees		15,830		11,828		27,178		27,452
Promote revenue		7,283		5,674		7,283		68,218
Total strategic capital revenues from unconsolidated co-investment ventures ⁽¹⁾	$	88,650	$	75,420	$	162,115	$	208,232

(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:	Jun 30, 2019			Dec 31, 2018			Jun 30, 2019⁽¹⁾			Dec 31, 2018			Jun 30, 2019			Dec 31, 2018			Jun 30, 2019			Dec 31, 2018			Jun 30, 2019			Dec 31, 2018
Key property information:
Ventures		1			1			2			2			3			3			2			2			8			8
Operating properties		585			566			213			209			698			669			138			125			1,634			1,569
Square feet		93			91			44			39			168			159			58			51			363			340

Financial position:
Total assets ($)		7,464			7,303			2,751			2,137			13,948			13,028			7,941			7,089			32,104			29,557
Third-party debt ($)		2,109			2,094			768			838			2,712			2,548			3,182			2,668			8,771			8,148
Total liabilities ($)		2,420			2,350			821			862			4,034			3,615			3,550			3,006			10,825			9,833

Our investment balance ($) ⁽²⁾		1,433			1,457			670			554			2,672			2,784			685			613			5,460			5,408
Our weighted average ownership ^{(3) (4)}		26.8	%		27.4	%		38.7	%		44.4	%		30.2	%		33.2	%		15.1	%		15.1	%		26.5	%		28.3	%

	U.S.						Other Americas						Europe						Asia						Total
Operating Information:	Jun 30, 2019			Jun 30, 2018			Jun 30, 2019⁽¹⁾			Jun 30, 2018			Jun 30, 2019			Jun 30, 2018			Jun 30, 2019			Jun 30, 2018			Jun 30, 2019			Jun 30, 2018
For the three months ended:
Total revenues ($)		180			168			67			55			268			272			124			114			639			609
Net earnings ($)		23			24			21			19			84			110			25			6			153			159

Our earnings from unconsolidated co-investment ventures, net ($)		7			7			8			8			27			37			4			2			46			54

For the six months ended:
Total revenues ($)		359			336			134			108			539			560			244			222			1,276			1,226
Net earnings ($)		52			37			55			33			155			203			62			48			324			321

Our earnings from unconsolidated co-investment ventures, net ($)		16			12			21			14			52			74			10			9			99			109

(1)	PBLV and our other Brazilian joint ventures are combined 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 June 30, 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 ($618.1 million and $635.9 million, respectively); (ii) recording additional costs associated with our investment in the venture ($91.1 million and $94.4 million, respectively); (iii) receivables, principally for fees and promotes ($132.0 million and $166.7 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to Nippon Prologis REIT, Inc. (“NPR”) ($136.3 million and $122.0 million, respectively). These customer security deposits originated through a leasing company owned by us and we have a corresponding payable to NPR’s customers in Other Liabilities. These amounts are repaid to us as the leases turn over.

(3)	Represents our weighted average ownership interest 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).