Unconsolidated Entities (Tables)

6 Months Ended

Jun. 30, 2021

Schedule Of Equity Method Investments [Line Items]

Summary of Investments in and Advances to our Unconsolidated Entities

The following table summarizes our investments in and advances to unconsolidated entities (in thousands):

	June 30,		December 31,
	2021		2020
Unconsolidated co-investment ventures	$	6,905,148	$	6,685,567
Other ventures		906,300		916,447
Total	$	7,811,448	$	7,602,014

Unconsolidated Co-Investment Ventures [Member]

Schedule Of Equity Method Investments [Line Items]

Summary of Investments in and Advances to our Unconsolidated Entities

The following table summarizes the key property information, financial position and operating information of our unconsolidated co-investment ventures (not our proportionate share) and the amounts we recognized in the Consolidated Financial Statements related to these ventures (dollars and square feet in millions):

	U.S.						Other Americas⁽¹⁾						Europe						Asia						Total
As of:	Jun 30, 2021			Dec 31, 2020			Jun 30, 2021			Dec 31, 2020			Jun 30, 2021			Dec 31, 2020			Jun 30, 2021			Dec 31, 2020			Jun 30, 2021			Dec 31, 2020
Key property information:
Ventures		1			1			2			2			3			3			3			3			9			9
Operating properties		712			706			232			229			797			768			183			167			1,924			1,870
Square feet		118			117			51			51			192			185			74			67			435			420

Financial position:
Total assets ($)		10,961			10,840			3,144			3,023			17,823			16,918			10,414			10,209			42,342			40,990
Third-party debt ($)		3,218			3,129			839			854			3,898			4,002			3,963			3,831			11,918			11,816
Total liabilities ($)		3,787			3,722			910			898			5,636			5,607			4,519			4,389			14,852			14,616

Our investment balance ($) ⁽²⁾		1,868			1,886			842			811			3,345			3,152			850			837			6,905			6,686
Our weighted average ownership ⁽³⁾		25.3	%		25.6	%		40.0	%		40.8	%		29.7	%		30.0	%		15.2	%		15.2	%		25.9	%		26.1	%

	U.S.						Other Americas ⁽¹⁾						Europe						Asia						Total
Operating Information:	Jun 30, 2021			Jun 30, 2020			Jun 30, 2021			Jun 30, 2020			Jun 30, 2021			Jun 30, 2020			Jun 30, 2021			Jun 30, 2020			Jun 30, 2021			Jun 30, 2020
For the three months ended:
Total revenues ($)		257			232			78			66			343			281			160			143			838			722
Net earnings ($)		54			40			28			23			82			72			36			32			200			167

Our earnings from unconsolidated co-investment ventures, net ($)		15			10			10			9			26			23			6			5			57			47

For the six months ended:
Total revenues ($)		511			465			153			134			681			571			319			281			1,664			1,451
Net earnings ($)		103			74			58			46			169			150			71			58			401			328

Our earnings from unconsolidated co-investment ventures, net ($)		28			19			22			18			54			48			12			9			116			94

(1)	Prologis Brazil Logistics Venture (“PBLV”) and our other Brazilian joint ventures are combined as one venture for the purpose of this table.

(2)

Prologis’ investment balance is presented at our adjusted basis derived from the ventures’ U.S. GAAP information. The difference between our ownership interest of a venture’s equity and our investment balance at June 30, 2021 and December 31, 2020, resulted principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018; (ii) recording additional costs associated with our investment in the venture; (iii) receivables, principally for fees and promotes ($141.2 million and $165.6 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to Nippon Prologis REIT, Inc.

(3)	Represents our weighted average ownership interest in all unconsolidated co-investment ventures based on each entity’s contribution of total assets before depreciation, net of other liabilities.

Summary of Strategic Capital Revenues Recognized in Consolidated Statements of Income Related to Co-Investment Ventures

The following table summarizes the Strategic Capital Revenues we recognized in the Consolidated Statements of Income related to our unconsolidated co-investment ventures (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Recurring fees	$	96,845	$	76,173	$	187,882	$	150,860
Transactional fees		18,199		12,092		39,077		32,052
Promote revenue ⁽¹⁾		10,636		227,830		12,251		228,421
Total strategic capital revenues from unconsolidated co-investment ventures ⁽²⁾	$	125,680	$	316,095	$	239,210	$	411,333

(1)	Includes promote revenue earned from our unconsolidated co-investment venture in the U.S. in June 2020.

(2)	These amounts exclude strategic capital revenues from other ventures.