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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Rental $ 4,147,994 $ 3,791,131 $ 2,831,818
Strategic capital 590,750 636,987 491,886
Development management and other 20,696 10,617 6,917
Total revenues 4,759,440 4,438,735 3,330,621
Expenses:      
Rental 1,041,316 952,063 734,266
Strategic capital 207,171 218,041 184,661
General and administrative 293,167 274,845 266,718
Depreciation and amortization 1,577,942 1,561,969 1,139,879
Other 22,435 30,010 13,149
Total expenses 3,142,031 3,036,928 2,338,673
Operating income before gains on real estate transactions, net 1,617,409 1,401,807 991,948
Gains on dispositions of development properties and land, net 817,017 464,942 467,577
Gains on other dispositions of investments in real estate, net 772,570 252,195 390,241
Operating income 3,206,996 2,118,944 1,849,766
Other income (expense):      
Earnings from unconsolidated entities, net 404,255 297,370 200,178
Interest expense (266,228) (314,507) (239,953)
Interest and other income, net 871 1,044 24,213
Foreign currency and derivative gains (losses), net 164,407 (167,473) (41,715)
Losses on early extinguishment of debt, net (187,453) (188,290) (16,126)
Total other income (expense) 115,852 (371,856) (73,403)
Earnings before income taxes 3,322,848 1,747,088 1,776,363
Total income tax expense (174,258) (130,458) (74,517)
Consolidated net earnings 3,148,590 1,616,630 1,701,846
Less net earnings attributable to noncontrolling interests 208,867 134,816 128,887
Net earnings attributable to controlling interests 2,939,723 1,481,814 1,572,959
Less preferred stock/unit dividends/distributions 6,152 6,345 6,009
Loss on preferred stock/unit repurchase 0 2,347 0
Net earnings attributable to common stockholders/unitholders $ 2,933,571 $ 1,473,122 $ 1,566,950
Weighted average common shares/units outstanding - Basic 739,363 728,323 630,580
Weighted average common shares/units outstanding - Diluted [1] 764,762 754,414 654,903
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 3.97 $ 2.02 $ 2.48
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 3.94 $ 2.01 $ 2.46
Prologis, L.P. [Member]      
Revenues:      
Rental $ 4,147,994 $ 3,791,131 $ 2,831,818
Strategic capital 590,750 636,987 491,886
Development management and other 20,696 10,617 6,917
Total revenues 4,759,440 4,438,735 3,330,621
Expenses:      
Rental 1,041,316 952,063 734,266
Strategic capital 207,171 218,041 184,661
General and administrative 293,167 274,845 266,718
Depreciation and amortization 1,577,942 1,561,969 1,139,879
Other 22,435 30,010 13,149
Total expenses 3,142,031 3,036,928 2,338,673
Operating income before gains on real estate transactions, net 1,617,409 1,401,807 991,948
Gains on dispositions of development properties and land, net 817,017 464,942 467,577
Gains on other dispositions of investments in real estate, net 772,570 252,195 390,241
Operating income 3,206,996 2,118,944 1,849,766
Other income (expense):      
Earnings from unconsolidated entities, net 404,255 297,370 200,178
Interest expense (266,228) (314,507) (239,953)
Interest and other income, net 871 1,044 24,213
Foreign currency and derivative gains (losses), net 164,407 (167,473) (41,715)
Losses on early extinguishment of debt, net (187,453) (188,290) (16,126)
Total other income (expense) 115,852 (371,856) (73,403)
Earnings before income taxes 3,322,848 1,747,088 1,776,363
Total income tax expense (174,258) (130,458) (74,517)
Consolidated net earnings 3,148,590 1,616,630 1,701,846
Less net earnings attributable to noncontrolling interests 127,075 93,195 82,222
Net earnings attributable to controlling interests 3,021,515 1,523,435 1,619,624
Less preferred stock/unit dividends/distributions 6,152 6,345 6,009
Loss on preferred stock/unit repurchase 0 2,347 0
Net earnings attributable to common stockholders/unitholders $ 3,015,363 $ 1,514,743 $ 1,613,615
Weighted average common shares/units outstanding - Basic 751,973 740,860 641,128
Weighted average common shares/units outstanding - Diluted [1] 764,762 754,414 654,903
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 3.97 $ 2.02 $ 2.48
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 3.94 $ 2.01 $ 2.46
[1]

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