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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Rental $ 1,014,763 $ 944,366 $ 2,036,419 $ 1,823,173
Strategic capital 129,387 320,658 249,348 417,249
Development management and other 6,692 1,100 13,391 3,943
Total revenues 1,150,842 1,266,124 2,299,158 2,244,365
Expenses:        
Rental 245,133 232,109 523,017 459,727
Strategic capital 45,099 81,545 94,549 128,119
General and administrative 74,342 64,664 152,374 134,353
Depreciation and amortization 392,736 398,195 790,311 744,165
Other 7,194 7,979 10,638 22,553
Total expenses 764,504 784,492 1,570,889 1,488,917
Operating income before gains on real estate transactions, net 386,338 481,632 728,269 755,448
Gains on dispositions of development properties and land, net 187,361 86,416 361,004 249,166
Gains on other dispositions of investments in real estate, net 127,167 43,939 143,790 75,430
Operating income 700,866 611,987 1,233,063 1,080,044
Other income (expense):        
Earnings from unconsolidated entities, net 72,419 54,142 139,468 142,872
Interest expense (68,412) (81,298) (139,693) (156,940)
Interest and other income, net 715 1,027 5,461 1,397
Foreign currency and derivative gains (losses), net (6,080) (60,836) 74,072 52,493
Losses on early extinguishment of debt, net 0 (23,573) (187,453) (66,340)
Total other expense (1,358) (110,538) (108,145) (26,518)
Earnings before income taxes 699,508 501,449 1,124,918 1,053,526
Total income tax expense (49,195) (46,511) (74,912) (77,424)
Consolidated net earnings 650,313 454,938 1,050,006 976,102
Less net earnings attributable to noncontrolling interests 50,137 48,765 82,483 78,876
Net earnings attributable to controlling interests 600,176 406,173 967,523 897,226
Less preferred stock/unit dividends/distributions 1,551 1,634 3,083 3,269
Net earnings attributable to common stockholders/unitholders $ 598,625 $ 404,539 $ 964,440 $ 893,957
Weighted average common shares/units outstanding - Basic 739,190 737,992 739,105 718,278
Weighted average common shares/units outstanding - Diluted [1] 764,652 765,830 764,724 746,027
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 0.81 $ 0.55 $ 1.30 $ 1.24
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 0.81 $ 0.54 $ 1.30 $ 1.23
Prologis, L.P. [Member]        
Revenues:        
Rental $ 1,014,763 $ 944,366 $ 2,036,419 $ 1,823,173
Strategic capital 129,387 320,658 249,348 417,249
Development management and other 6,692 1,100 13,391 3,943
Total revenues 1,150,842 1,266,124 2,299,158 2,244,365
Expenses:        
Rental 245,133 232,109 523,017 459,727
Strategic capital 45,099 81,545 94,549 128,119
General and administrative 74,342 64,664 152,374 134,353
Depreciation and amortization 392,736 398,195 790,311 744,165
Other 7,194 7,979 10,638 22,553
Total expenses 764,504 784,492 1,570,889 1,488,917
Operating income before gains on real estate transactions, net 386,338 481,632 728,269 755,448
Gains on dispositions of development properties and land, net 187,361 86,416 361,004 249,166
Gains on other dispositions of investments in real estate, net 127,167 43,939 143,790 75,430
Operating income 700,866 611,987 1,233,063 1,080,044
Other income (expense):        
Earnings from unconsolidated entities, net 72,419 54,142 139,468 142,872
Interest expense (68,412) (81,298) (139,693) (156,940)
Interest and other income, net 715 1,027 5,461 1,397
Foreign currency and derivative gains (losses), net (6,080) (60,836) 74,072 52,493
Losses on early extinguishment of debt, net 0 (23,573) (187,453) (66,340)
Total other expense (1,358) (110,538) (108,145) (26,518)
Earnings before income taxes 699,508 501,449 1,124,918 1,053,526
Total income tax expense (49,195) (46,511) (74,912) (77,424)
Consolidated net earnings 650,313 454,938 1,050,006 976,102
Less net earnings attributable to noncontrolling interests 33,284 37,115 55,362 53,256
Net earnings attributable to controlling interests 617,029 417,823 994,644 922,846
Less preferred stock/unit dividends/distributions 1,551 1,634 3,083 3,269
Net earnings attributable to common stockholders/unitholders $ 615,478 $ 416,189 $ 991,561 $ 919,577
Weighted average common shares/units outstanding - Basic 752,065 751,182 751,883 730,807
Weighted average common shares/units outstanding - Diluted 764,652 765,830 764,724 746,027
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 0.81 $ 0.55 $ 1.30 $ 1.24
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 0.81 $ 0.54 $ 1.30 $ 1.23
[1] Our total weighted average potentially dilutive shares and units outstanding consisted of the following: