Supplemental Cash Flow Information

9 Months Ended

Sep. 30, 2020

Supplemental Cash Flow Elements [Abstract]

NOTE 13. SUPPLEMENTAL CASH FLOW INFORMATION

Our significant noncash investing and financing activities for the nine months ended September 30, 2020 and 2019 included the following:

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We completed the Liberty Transaction on February 4, 2020 for $13.0 billion through the issuance of equity and the assumption of debt. See Note 2 for more information on this transaction. Additionally, our two U.S. co-investment ventures, USLF and USLV completed the IPT Transaction on January 8, 2020 for $2.0 billion each in a cash transaction, including the assumption and repayment of debt. See Note 6 for more information on the assumption of debt.

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We recognized Lease Right-of-Use Assets and Lease Liabilities on the Consolidated Balance Sheets, including any new leases, renewals and modifications after January 1, 2020 of $6.6 million each, and $483.9 million and $475.1 million, respectively, after January 1, 2019, related to leases in which we are the lessee. Amounts in 2019 are primarily due to our adoption of the new lease standard on January 1, 2019.

•	We capitalized $18.0 million and $16.6 million in 2020 and 2019, respectively, of equity-based compensation expense.

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We received $399.2 million and $294.7 million in 2020 and 2019, respectively, of ownership interests in certain unconsolidated co-investment ventures as a portion of our proceeds from the contribution of properties to these entities, as disclosed in Note 4. Included in 2019 was our initial 20.0% investment in PBLV in exchange for our contribution of the initial portfolio of properties to PBLV upon formation.

•	An unconsolidated co-investment venture in the U.S. declared a distribution of $45.6 million, which we subsequently reinvested and increased our ownership in 2020.

•	We received $23.7 million of equity interests in PCCLF for the contribution of real estate properties from Prologis China Logistics Venture II, LP in 2020.

•	We issued 0.3 million and 1.2 million shares in 2020 and 2019, respectively, of the Parent’s common stock upon redemption of an equal number of common limited partnership units in the OP.

•	We issued 0.5 million common limited partnership units for $48.5 million as partial consideration for the acquisition of properties in 2020. See Note 8 for more information.

We paid $230.9 million and $201.6 million for interest, net of amounts capitalized, for the nine months ended September 30, 2020 and 2019, respectively.

We paid $82.3 million and $53.4 million for income taxes, net of refunds, for the nine months ended September 30, 2020 and 2019, respectively.