Earnings Per Common Share or Unit (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share Unit

The computation of our basic and diluted earnings per share and unit for the years ended December 31 was as follows (in thousands, except per share and unit amounts):

Prologis, Inc.	2021		2020		2019
Net earnings attributable to common stockholders – Basic	$	2,933,571	$	1,473,122	$	1,566,950
Net earnings attributable to exchangeable limited partnership units (1)		82,092		41,938		46,986
Adjusted net earnings attributable to common stockholders – Diluted	$	3,015,663	$	1,515,060	$	1,613,936
Weighted average common shares outstanding – Basic		739,363		728,323		630,580
Incremental weighted average effect on exchange of limited partnership units (1)		20,913		20,877		19,154
Incremental weighted average effect of equity awards		4,486		5,214		5,169
Weighted average common shares outstanding – Diluted (2)		764,762		754,414		654,903
Net earnings per share attributable to common stockholders:
Basic	$	3.97	$	2.02	$	2.48
Diluted	$	3.94	$	2.01	$	2.46

Prologis, L.P.	2021			2020			2019
Net earnings attributable to common unitholders	$	3,015,363		$	1,514,743		$	1,613,615
Net earnings attributable to Class A Units		(31,758	)		(16,262	)		(20,454	)
Net earnings attributable to common unitholders – Basic		2,983,605			1,498,481			1,593,161
Net earnings attributable to Class A Units		31,758			16,262			20,454
Net earnings attributable to exchangeable other limited partnership units		300			317			321
Adjusted net earnings attributable to common unitholders – Diluted	$	3,015,663		$	1,515,060		$	1,613,936
Weighted average common partnership units outstanding – Basic		751,973			740,860			641,128
Incremental weighted average effect on exchange of Class A Units		8,004			8,041			8,231
Incremental weighted average effect on exchange of other limited partnership units		299			299			375
Incremental weighted average effect of equity awards of Prologis, Inc.		4,486			5,214			5,169
Weighted average common units outstanding – Diluted (2)		764,762			754,414			654,903
Net earnings per unit attributable to common unitholders:
Basic	$	3.97		$	2.02		$	2.48
Diluted	$	3.94		$	2.01		$	2.46

(1) Earnings allocated to the exchangeable OP units not held by the Parent have been included in the numerator and exchangeable common units have been included in the denominator for the purpose of computing diluted earnings per share for all periods as the per share and unit amount is the same.

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

	2021		2020		2019
Class A Units		8,004		8,041		8,231
Other limited partnership units		299		299		375
Equity awards		6,719		7,798		7,933
Prologis, L.P.		15,022		16,138		16,539
Common limited partnership units		12,610		12,537		10,548
Prologis, Inc.		27,632		28,675		27,087