Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2020

Supplemental Cash Flow Elements [Abstract]

NOTE 18. SUPPLEMENTAL CASH FLOW INFORMATION

Our significant noncash investing and financing activities for the years ended December 31, 2020, 2019 and 2018 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 3 for more information on this transaction. Additionally, USLV assumed debt as part of the IPT Transaction. See Note 8 for more information on the assumption of debt.

•	As partial consideration for the disposition of a portfolio of properties during 2020, the buyer assumed debt of $169.8 million.

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We recognized Lease Right-Of-Use (“ROU”) Assets and Lease Liabilities on the Consolidated Balance Sheets, including new leases, renewals and modifications in 2020 of $47.8 million each, related to leases in which we are the lessee. We adopted the new lease standard on January 1, 2019 and recognized Lease ROU Assets of $523.8 million and Lease Liabilities of $527.3 million in 2019.

•	We capitalized $22.4 million, $21.4 million and $26.4 million in 2020, 2019 and 2018, respectively, of equity-based compensation expense. Beginning January 1, 2019, upon adoption of the new lease standard internal costs related to our leasing activities are expensed as incurred.

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We received $433.7 million, $646.8 million and $386.7 million of ownership interests in certain unconsolidated co-investment ventures as a portion of our proceeds from the contribution of properties to these entities during 2020, 2019 and 2018, respectively, as disclosed in Note 5. 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.

•	We reinvested distributions from unconsolidated co-investment ventures of $45.6 million and $80.9 million and increased our ownership in 2020 and 2019, respectively.

•	We issued 0.7 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 11 for more information.

•	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 and our existing partner in Prologis China Logistics Venture I, LP received equity interests in the newly formed PCCLF for the contribution of the existing portfolio of assets in 2019.

•	We purchased our partners’ interest in a consolidated venture through the distribution of an operating property for $11.4 million in 2019.

•	We formed a consolidated venture into which our partner contributed $11.8 million of land in 2018.

•	We completed the DCT Transaction on August 22, 2018 for $8.5 billion through the issuance of equity and the assumption of debt. See Note 3 for more information on this transaction.