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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:      
Rental $ 4,913,171 $ 4,147,994 $ 3,791,131
Strategic capital 1,039,585 590,750 636,987
Development management and other 20,936 20,696 10,617
Total revenues 5,973,692 4,759,440 4,438,735
Expenses:      
Rental 1,205,738 1,041,316 952,063
Strategic capital 303,356 207,171 218,041
General and administrative 331,083 293,167 274,845
Depreciation and amortization 1,812,777 1,577,942 1,561,969
Other 40,336 22,435 30,010
Total expenses 3,693,290 3,142,031 3,036,928
Operating income before gains on real estate transactions, net 2,280,402 1,617,409 1,401,807
Gains on dispositions of development properties and land, net 597,745 817,017 464,942
Gains on other dispositions of investments in real estate, net [1] 589,391 772,570 252,195
Operating income 3,467,538 3,206,996 2,118,944
Other income (expense):      
Earnings from unconsolidated entities, net 310,872 404,255 297,370
Interest expense (309,037) (266,228) (314,507)
Foreign currency and derivative gains (losses) and other income (expense), net 241,621 165,278 (166,429)
Losses on early extinguishment of debt, net (20,184) (187,453) (188,290)
Total other income (expense) 223,272 115,852 (371,856)
Earnings before income taxes 3,690,810 3,322,848 1,747,088
Total income tax expense (135,412) (174,258) (130,458)
Consolidated net earnings 3,555,398 3,148,590 1,616,630
Less net earnings attributable to noncontrolling interests 190,542 208,867 134,816
Net earnings attributable to controlling interests 3,364,856 2,939,723 1,481,814
Less preferred stock/unit dividends/distributions 6,060 6,152 6,345
Loss on preferred stock/unit repurchase 0 0 2,347
Net earnings attributable to common stockholders/unitholders $ 3,358,796 $ 2,933,571 $ 1,473,122
Weighted average common shares/units outstanding - Basic 785,675 739,363 728,323
Weighted average common shares/units outstanding - Diluted [2] 811,608 764,762 754,414
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 4.28 $ 3.97 $ 2.02
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 4.25 $ 3.94 $ 2.01
Prologis, L.P. [Member]      
Revenues:      
Rental $ 4,913,171 $ 4,147,994 $ 3,791,131
Strategic capital 1,039,585 590,750 636,987
Development management and other 20,936 20,696 10,617
Total revenues 5,973,692 4,759,440 4,438,735
Expenses:      
Rental 1,205,738 1,041,316 952,063
Strategic capital 303,356 207,171 218,041
General and administrative 331,083 293,167 274,845
Depreciation and amortization 1,812,777 1,577,942 1,561,969
Other 40,336 22,435 30,010
Total expenses 3,693,290 3,142,031 3,036,928
Operating income before gains on real estate transactions, net 2,280,402 1,617,409 1,401,807
Gains on dispositions of development properties and land, net 597,745 817,017 464,942
Gains on other dispositions of investments in real estate, net 589,391 772,570 252,195
Operating income 3,467,538 3,206,996 2,118,944
Other income (expense):      
Earnings from unconsolidated entities, net 310,872 404,255 297,370
Interest expense (309,037) (266,228) (314,507)
Foreign currency and derivative gains (losses) and other income (expense), net 241,621 165,278 (166,429)
Losses on early extinguishment of debt, net (20,184) (187,453) (188,290)
Total other income (expense) 223,272 115,852 (371,856)
Earnings before income taxes 3,690,810 3,322,848 1,747,088
Total income tax expense (135,412) (174,258) (130,458)
Consolidated net earnings 3,555,398 3,148,590 1,616,630
Less net earnings attributable to noncontrolling interests 98,611 127,075 93,195
Net earnings attributable to controlling interests 3,456,787 3,021,515 1,523,435
Less preferred stock/unit dividends/distributions 6,060 6,152 6,345
Loss on preferred stock/unit repurchase 0 0 2,347
Net earnings attributable to common stockholders/unitholders $ 3,450,727 $ 3,015,363 $ 1,514,743
Weighted average common shares/units outstanding - Basic 799,153 751,973 740,860
Weighted average common shares/units outstanding - Diluted [2] 811,608 764,762 754,414
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 4.28 $ 3.97 $ 2.02
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 4.25 $ 3.94 $ 2.01
[1]

In 2021, we sold our ownership interest in an unconsolidated other venture.

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