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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues:      
Rental $ 3,791,131 $ 2,831,818 $ 2,388,791
Strategic capital 636,987 491,886 406,300
Development management and other 10,617 6,917 9,358
Total revenues 4,438,735 3,330,621 2,804,449
Expenses:      
Rental 952,063 734,266 600,648
Strategic capital 218,041 184,661 157,040
General and administrative 274,845 266,718 238,985
Depreciation and amortization 1,561,969 1,139,879 947,214
Other 30,010 13,149 13,560
Total expenses 3,036,928 2,338,673 1,957,447
Operating income before gains on real estate transactions, net 1,401,807 991,948 847,002
Gains on dispositions of development properties and land, net 464,942 467,577 469,817
Gains on other dispositions of investments in real estate, net 252,195 390,241 371,179
Operating income 2,118,944 1,849,766 1,687,998
Other income (expense):      
Earnings from unconsolidated entities, net 297,370 200,178 298,260
Interest expense (314,507) (239,953) (229,141)
Interest and other income, net 1,044 24,213 14,663
Foreign currency and derivative gains (losses), net (167,473) (41,715) 117,096
Losses on early extinguishment of debt, net (188,290) (16,126) (2,586)
Total other income (expense) (371,856) (73,403) 198,292
Earnings before income taxes 1,747,088 1,776,363 1,886,290
Total income tax expense 130,458 74,517 63,330
Consolidated net earnings 1,616,630 1,701,846 1,822,960
Less net earnings attributable to noncontrolling interests 134,816 128,887 173,599
Net earnings attributable to controlling interests 1,481,814 1,572,959 1,649,361
Less preferred stock/unit dividends/distributions 6,345 6,009 5,935
Loss on preferred stock/unit repurchase 2,347 0 0
Net earnings attributable to common stockholders/unitholders $ 1,473,122 $ 1,566,950 $ 1,643,426
Weighted average common shares/units outstanding - Basic 728,323 630,580 567,367
Weighted average common shares/units outstanding - Diluted [1] 754,414 654,903 590,239
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 2.02 $ 2.48 $ 2.90
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 2.01 $ 2.46 $ 2.87
Prologis, L.P. [Member]      
Revenues:      
Rental $ 3,791,131 $ 2,831,818 $ 2,388,791
Strategic capital 636,987 491,886 406,300
Development management and other 10,617 6,917 9,358
Total revenues 4,438,735 3,330,621 2,804,449
Expenses:      
Rental 952,063 734,266 600,648
Strategic capital 218,041 184,661 157,040
General and administrative 274,845 266,718 238,985
Depreciation and amortization 1,561,969 1,139,879 947,214
Other 30,010 13,149 13,560
Total expenses 3,036,928 2,338,673 1,957,447
Operating income before gains on real estate transactions, net 1,401,807 991,948 847,002
Gains on dispositions of development properties and land, net 464,942 467,577 469,817
Gains on other dispositions of investments in real estate, net 252,195 390,241 371,179
Operating income 2,118,944 1,849,766 1,687,998
Other income (expense):      
Earnings from unconsolidated entities, net 297,370 200,178 298,260
Interest expense (314,507) (239,953) (229,141)
Interest and other income, net 1,044 24,213 14,663
Foreign currency and derivative gains (losses), net (167,473) (41,715) 117,096
Losses on early extinguishment of debt, net (188,290) (16,126) (2,586)
Total other income (expense) (371,856) (73,403) 198,292
Earnings before income taxes 1,747,088 1,776,363 1,886,290
Total income tax expense 130,458 74,517 63,330
Consolidated net earnings 1,616,630 1,701,846 1,822,960
Less net earnings attributable to noncontrolling interests 93,195 82,222 124,712
Net earnings attributable to controlling interests 1,523,435 1,619,624 1,698,248
Less preferred stock/unit dividends/distributions 6,345 6,009 5,935
Loss on preferred stock/unit repurchase 2,347 0 0
Net earnings attributable to common stockholders/unitholders $ 1,514,743 $ 1,613,615 $ 1,692,313
Weighted average common shares/units outstanding - Basic 740,860 641,128 575,798
Weighted average common shares/units outstanding - Diluted [1] 754,414 654,903 590,239
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 2.02 $ 2.48 $ 2.90
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 2.01 $ 2.46 $ 2.87
[1]

Our total weighted average potentially dilutive shares and units outstanding for the years ended December 31 consisted of the following: