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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenues:    
Rental $ 1,076,861 $ 1,021,656
Strategic capital 133,925 119,961
Development management and other 8,342 6,699
Total revenues 1,219,128 1,148,316
Expenses:    
Rental 275,674 277,884
Strategic capital 51,811 49,450
General and administrative 74,646 78,032
Depreciation and amortization 396,647 397,575
Other 9,589 3,444
Total expenses 808,367 806,385
Operating income before gains on real estate transactions, net 410,761 341,931
Gains on dispositions of development properties and land, net 210,206 173,643
Gains on other dispositions of investments in real estate, net 584,835 16,623
Operating income 1,205,802 532,197
Other income (expense):    
Earnings from unconsolidated entities, net 76,962 67,049
Interest expense (64,064) (71,281)
Interest and other income, net 1,053 4,746
Foreign currency and derivative gains, net 47,356 80,152
Losses on early extinguishment of debt, net (18,165) (187,453)
Total other income (expense) 43,142 (106,787)
Earnings before income taxes 1,248,944 425,410
Income tax expense (29,222) (25,717)
Consolidated net earnings 1,219,722 399,693
Less net earnings attributable to noncontrolling interests 68,937 32,346
Net earnings attributable to controlling interests 1,150,785 367,347
Less preferred stock/unit dividends/distributions 1,531 1,532
Net earnings attributable to common stockholders/unitholders $ 1,149,254 $ 365,815
Weighted average common shares/units outstanding - Basic 740,368 738,998
Weighted average common shares/units outstanding - Diluted [1] 765,517 764,958
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 1.55 $ 0.50
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 1.54 $ 0.49
Prologis, L.P. [Member]    
Revenues:    
Rental $ 1,076,861 $ 1,021,656
Strategic capital 133,925 119,961
Development management and other 8,342 6,699
Total revenues 1,219,128 1,148,316
Expenses:    
Rental 275,674 277,884
Strategic capital 51,811 49,450
General and administrative 74,646 78,032
Depreciation and amortization 396,647 397,575
Other 9,589 3,444
Total expenses 808,367 806,385
Operating income before gains on real estate transactions, net 410,761 341,931
Gains on dispositions of development properties and land, net 210,206 173,643
Gains on other dispositions of investments in real estate, net 584,835 16,623
Operating income 1,205,802 532,197
Other income (expense):    
Earnings from unconsolidated entities, net 76,962 67,049
Interest expense (64,064) (71,281)
Interest and other income, net 1,053 4,746
Foreign currency and derivative gains, net 47,356 80,152
Losses on early extinguishment of debt, net (18,165) (187,453)
Total other income (expense) 43,142 (106,787)
Earnings before income taxes 1,248,944 425,410
Income tax expense (29,222) (25,717)
Consolidated net earnings 1,219,722 399,693
Less net earnings attributable to noncontrolling interests 36,666 22,078
Net earnings attributable to controlling interests 1,183,056 377,615
Less preferred stock/unit dividends/distributions 1,531 1,532
Net earnings attributable to common stockholders/unitholders $ 1,181,525 $ 376,083
Weighted average common shares/units outstanding - Basic 753,159 751,679
Weighted average common shares/units outstanding - Diluted 765,517 764,958
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 1.55 $ 0.50
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 1.54 $ 0.49
[1] Our total weighted average potentially dilutive shares and units outstanding consisted of the following: