Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2020

Summary of Ownership Percentages and Noncontrolling Interests

The following table summarizes our ownership percentages and noncontrolling interests and the consolidated entities’ total assets and total liabilities at December 31 (dollars in thousands):

	Our Ownership Percentage						Noncontrolling Interests				Total Assets				Total Liabilities
	2020			2019			2020		2019		2020		2019		2020		2019
Prologis U.S. Logistics Venture⁽¹⁾		55.0	%		55.0	%	$	3,385,110	$	2,677,846	$	7,663,800	$	6,077,016	$	145,131	$	99,397
Other consolidated entities⁽²⁾	various			various				98,416		97,548		1,066,129		849,620		73,987		85,186
Prologis, L.P.								3,483,526		2,775,394		8,729,929		6,926,636		219,118		184,583
Limited partners in Prologis, L.P. ⁽³⁾⁽⁴⁾								869,507		643,263		-		-		-		-
Prologis, Inc.							$	4,353,033	$	3,418,657	$	8,729,929	$	6,926,636	$	219,118	$	184,583

(1)

As discussed in Note 4, in 2020, USLV acquired a portfolio of 127 operating properties, aggregating 19.0 million square feet, in the IPT Transaction for $2.0 billion, including transaction costs and the assumption and repayment of debt. Our partner contributed their share of the purchase price to fund the acquisition.

(2)

Includes our two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. The limited partnership units outstanding at December 31, 2020 and 2019 were exchangeable into cash or, at our option, 0.3 million shares of the Parent’s common stock.

(3)	We had 8.6 million Class A Units that were convertible into 8.0 million and 8.1 million limited partnership units of the OP at December 31, 2020 and 2019, respectively. See Note 10 for further discussion of our Class A Units.

(4)

At December 31, 2020 and 2019, excluding the Class A Units, there were limited partnership units in the OP that were exchangeable into cash or, at our option, 8.2 million and 6.2 million shares of the Parent’s common stock, respectively. We issued 2.3 million limited partnership units in the Liberty Transaction and 0.5 million limited partnership units as partial consideration for the acquisition of other properties in 2020. Also included are the vested OP Long-Term Incentive Plan Units associated with our long-term compensation plans. See further discussion of Long-Term Incentive Plan Units in Note 12.