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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Consolidated net earnings $ 1,616,630 $ 1,701,846 $ 1,822,960
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Straight-lined rents and amortization of above and below market leases (126,328) (98,426) (66,938)
Equity-based compensation awards 109,831 97,557 76,093
Depreciation and amortization 1,561,969 1,139,879 947,214
Earnings from unconsolidated entities, net (297,370) (200,178) (298,260)
Operating distributions from unconsolidated entities 450,622 346,517 349,877
Decrease (increase) in operating receivables from unconsolidated entities 14,670 11,557 (39,890)
Amortization of debt discounts and debt issuance costs, net 7,859 17,006 12,653
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)
Unrealized foreign currency and derivative losses (gains), net 160,739 70,693 (120,358)
Losses on early extinguishment of debt, net 188,290 16,126 2,586
Deferred income tax expense 744 12,221 1,448
Increase in accounts receivable, lease right-of-use assets and other assets (127,619) (108,165) (72,955)
Increase in accounts payable and accrued expenses, lease liabilities and other liabilities 94,105 115,219 30,125
Net cash provided by operating activities 2,937,005 2,264,034 1,803,559
Investing activities:      
Real estate development (1,920,218) (1,795,137) (1,953,144)
Real estate acquisitions (1,239,034) (1,006,043) (999,131)
Tenant improvements and lease commissions on previously leased space (221,491) (179,274) (134,868)
Property improvements (149,491) (143,029) (93,073)
Proceeds from dispositions and contributions of real estate properties 2,281,940 2,331,623 2,310,388
Investments in and advances to unconsolidated entities (385,936) (276,169) (160,358)
Return of investment from unconsolidated entities 257,065 389,463 360,278
Proceeds from repayment of notes receivable backed by real estate 4,312 0 34,260
Proceeds from the settlement of net investment hedges 2,352 23,640 29,425
Payments on the settlement of net investment hedges (9,034) (30,424) (11,703)
Net cash used in investing activities (3,074,330) (685,350) (663,796)
Financing activities:      
Proceeds from issuance of common stock/units 2,217 6,082 6,891
Repurchase and retirement of common stock (34,829) 0 0
Repurchase of preferred stock (7,200) 0 0
Dividends/distributions paid on common and preferred stock/units (1,722,989) (1,345,660) (1,123,367)
Noncontrolling interests contributions 917,092 11,604 170,066
Noncontrolling interests distributions (361,636) (164,419) (224,850)
Settlement of noncontrolling interests (116,978) (109,811) (75,920)
Tax paid for shares withheld (24,887) (22,434) (26,508)
Debt and equity issuance costs paid (54,204) (17,656) (17,446)
Net proceeds from (payments on) credit facilities (10,959) 127,566 (674,559)
Repurchase of and payments on debt (6,782,306) (3,301,827) (4,166,088)
Proceeds from the issuance of debt 7,824,517 3,976,956 4,899,680
Net cash used in financing activities (372,162) (839,599) (1,232,101)
Effect of foreign currency exchange rate changes on cash 18,718 5,914 (10,852)
Net increase (decrease) in cash and cash equivalents (490,769) 744,999 (103,190)
Cash and cash equivalents, beginning of year 1,088,855 343,856 447,046
Cash and cash equivalents, end of year 598,086 1,088,855 343,856
Prologis, L.P. [Member]      
Operating activities:      
Consolidated net earnings 1,616,630 1,701,846 1,822,960
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Straight-lined rents and amortization of above and below market leases (126,328) (98,426) (66,938)
Equity-based compensation awards 109,831 97,557 76,093
Depreciation and amortization 1,561,969 1,139,879 947,214
Earnings from unconsolidated entities, net (297,370) (200,178) (298,260)
Operating distributions from unconsolidated entities 450,622 346,517 349,877
Decrease (increase) in operating receivables from unconsolidated entities 14,670 11,557 (39,890)
Amortization of debt discounts and debt issuance costs, net 7,859 17,006 12,653
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)
Unrealized foreign currency and derivative losses (gains), net 160,739 70,693 (120,358)
Losses on early extinguishment of debt, net 188,290 16,126 2,586
Deferred income tax expense 744 12,221 1,448
Increase in accounts receivable, lease right-of-use assets and other assets (127,619) (108,165) (72,955)
Increase in accounts payable and accrued expenses, lease liabilities and other liabilities 94,105 115,219 30,125
Net cash provided by operating activities 2,937,005 2,264,034 1,803,559
Investing activities:      
Real estate development (1,920,218) (1,795,137) (1,953,144)
Real estate acquisitions (1,239,034) (1,006,043) (999,131)
Tenant improvements and lease commissions on previously leased space (221,491) (179,274) (134,868)
Property improvements (149,491) (143,029) (93,073)
Proceeds from dispositions and contributions of real estate properties 2,281,940 2,331,623 2,310,388
Investments in and advances to unconsolidated entities (385,936) (276,169) (160,358)
Return of investment from unconsolidated entities 257,065 389,463 360,278
Proceeds from repayment of notes receivable backed by real estate 4,312 0 34,260
Proceeds from the settlement of net investment hedges 2,352 23,640 29,425
Payments on the settlement of net investment hedges (9,034) (30,424) (11,703)
Net cash used in investing activities (3,074,330) (685,350) (663,796)
Financing activities:      
Proceeds from issuance of common stock/units 2,217 6,082 6,891
Repurchase and retirement of common stock (34,829) 0 0
Repurchase of preferred stock (7,200) 0 0
Dividends/distributions paid on common and preferred stock/units (1,781,482) (1,396,051) (1,168,133)
Noncontrolling interests contributions 917,092 11,604 170,066
Noncontrolling interests distributions (303,143) (114,028) (180,084)
Settlement of noncontrolling interests 0 (22,471) (22,728)
Redemption of common limited partnership units (116,978) (87,340) (53,192)
Tax paid for shares of the Parent withheld (24,887) (22,434) (26,508)
Debt and equity issuance costs paid (54,204) (17,656) (17,446)
Net proceeds from (payments on) credit facilities (10,959) 127,566 (674,559)
Repurchase of and payments on debt (6,782,306) (3,301,827) (4,166,088)
Proceeds from the issuance of debt 7,824,517 3,976,956 4,899,680
Net cash used in financing activities (372,162) (839,599) (1,232,101)
Effect of foreign currency exchange rate changes on cash 18,718 5,914 (10,852)
Net increase (decrease) in cash and cash equivalents (490,769) 744,999 (103,190)
Cash and cash equivalents, beginning of year 1,088,855 343,856 447,046
Cash and cash equivalents, end of year 598,086 1,088,855 343,856
Liberty Transaction [Member]      
Investing activities:      
Transaction, net of cash acquired (29,436) 0 0
Liberty Transaction [Member] | Prologis, L.P. [Member]      
Investing activities:      
Transaction, net of cash acquired (29,436) 0 0
IPT Transaction [Member]      
Investing activities:      
Transaction, net of cash acquired (1,665,359) 0 0
IPT Transaction [Member] | Prologis, L.P. [Member]      
Investing activities:      
Transaction, net of cash acquired (1,665,359) 0 0
DCT Transaction [Member]      
Investing activities:      
Transaction, net of cash acquired 0 0 (45,870)
DCT Transaction [Member] | Prologis, L.P. [Member]      
Investing activities:      
Transaction, net of cash acquired $ 0 $ 0 $ (45,870)