XML 69 R46.htm IDEA: XBRL DOCUMENT v3.21.2
Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Detail)
$ in Thousands, ft² in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
USD ($)
ft²
Property
Venture
Jun. 30, 2020
USD ($)
Jun. 30, 2021
USD ($)
ft²
Property
Venture
Jun. 30, 2020
USD ($)
Dec. 31, 2020
USD ($)
ft²
Property
Venture
Schedule Of Equity Method Investments [Line Items]          
Total assets $ 56,441,385   $ 56,441,385   $ 56,065,005
Total liabilities 19,960,581   19,960,581   $ 19,740,425
Total revenues 1,150,842 $ 1,266,124 2,299,158 $ 2,244,365  
Consolidated net earnings 650,313 454,938 1,050,006 976,102  
Our earnings from unconsolidated co-investment ventures, net $ 72,419 54,142 $ 139,468 142,872  
Unconsolidated Co-Investment Ventures [Member]          
Schedule Of Equity Method Investments [Line Items]          
Ventures | Venture 9   9   9
Number of buildings | Property 1,924   1,924   1,870
Square feet | ft² 435   435   420
Total assets $ 42,342,000   $ 42,342,000   $ 40,990,000
Third-party debt 11,918,000   11,918,000   11,816,000
Total liabilities 14,852,000   14,852,000   14,616,000
Our investment balance [1] 6,905,000   6,905,000   $ 6,686,000
Total revenues 838,000 722,000 1,664,000 1,451,000  
Consolidated net earnings 200,000 167,000 401,000 328,000  
Our earnings from unconsolidated co-investment ventures, net $ 57,000 47,000 $ 116,000 94,000  
Unconsolidated Co-Investment Ventures [Member] | U.S. [Member]          
Schedule Of Equity Method Investments [Line Items]          
Ventures | Venture 1   1   1
Number of buildings | Property 712   712   706
Square feet | ft² 118   118   117
Total assets $ 10,961,000   $ 10,961,000   $ 10,840,000
Third-party debt 3,218,000   3,218,000   3,129,000
Total liabilities 3,787,000   3,787,000   3,722,000
Our investment balance [1] 1,868,000   1,868,000   $ 1,886,000
Total revenues 257,000 232,000 511,000 465,000  
Consolidated net earnings 54,000 40,000 103,000 74,000  
Our earnings from unconsolidated co-investment ventures, net $ 15,000 10,000 $ 28,000 19,000  
Unconsolidated Co-Investment Ventures [Member] | Other Americas [Member]          
Schedule Of Equity Method Investments [Line Items]          
Ventures | Venture [2] 2   2   2
Number of buildings | Property [2] 232   232   229
Square feet | ft² [2] 51   51   51
Total assets [2] $ 3,144,000   $ 3,144,000   $ 3,023,000
Third-party debt [2] 839,000   839,000   854,000
Total liabilities [2] 910,000   910,000   898,000
Our investment balance [1],[2] 842,000   842,000   $ 811,000
Total revenues [2] 78,000 66,000 153,000 134,000  
Consolidated net earnings [2] 28,000 23,000 58,000 46,000  
Our earnings from unconsolidated co-investment ventures, net [2] $ 10,000 9,000 $ 22,000 18,000  
Unconsolidated Co-Investment Ventures [Member] | Europe [Member]          
Schedule Of Equity Method Investments [Line Items]          
Ventures | Venture 3   3   3
Number of buildings | Property 797   797   768
Square feet | ft² 192   192   185
Total assets $ 17,823,000   $ 17,823,000   $ 16,918,000
Third-party debt 3,898,000   3,898,000   4,002,000
Total liabilities 5,636,000   5,636,000   5,607,000
Our investment balance [1] 3,345,000   3,345,000   $ 3,152,000
Total revenues 343,000 281,000 681,000 571,000  
Consolidated net earnings 82,000 72,000 169,000 150,000  
Our earnings from unconsolidated co-investment ventures, net $ 26,000 23,000 $ 54,000 48,000  
Unconsolidated Co-Investment Ventures [Member] | Asia [Member]          
Schedule Of Equity Method Investments [Line Items]          
Ventures | Venture 3   3   3
Number of buildings | Property 183   183   167
Square feet | ft² 74   74   67
Total assets $ 10,414,000   $ 10,414,000   $ 10,209,000
Third-party debt 3,963,000   3,963,000   3,831,000
Total liabilities 4,519,000   4,519,000   4,389,000
Our investment balance [1] 850,000   850,000   $ 837,000
Total revenues 160,000 143,000 319,000 281,000  
Consolidated net earnings 36,000 32,000 71,000 58,000  
Our earnings from unconsolidated co-investment ventures, net $ 6,000 $ 5,000 $ 12,000 $ 9,000  
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member]          
Schedule Of Equity Method Investments [Line Items]          
Our weighted average ownership [3] 25.90%   25.90%   26.10%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | U.S. [Member]          
Schedule Of Equity Method Investments [Line Items]          
Our weighted average ownership [3] 25.30%   25.30%   25.60%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Other Americas [Member]          
Schedule Of Equity Method Investments [Line Items]          
Our weighted average ownership [2],[3] 40.00%   40.00%   40.80%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Europe [Member]          
Schedule Of Equity Method Investments [Line Items]          
Our weighted average ownership [3] 29.70%   29.70%   30.00%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Asia [Member]          
Schedule Of Equity Method Investments [Line Items]          
Our weighted average ownership [3] 15.20%   15.20%   15.20%
[1] 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.
[2] Prologis Brazil Logistics Venture (“PBLV”) and our other Brazilian joint ventures are combined as one venture for the purpose of this table.
[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.