Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Ownership Percentages and Noncontrolling Interests

The following table summarizes these entities at December 31 (dollars in thousands):

	Our Ownership Percentage						Noncontrolling Interests				Total Assets				Total Liabilities
	2022			2021			2022		2021		2022		2021		2022		2021
Prologis U.S. Logistics Venture		55.0	%		55.0	%	$	3,182,858	$	3,264,337	$	7,225,438	$	7,397,195	$	158,453	$	147,545
Other consolidated entities⁽¹⁾	various			various				134,909		133,201		1,737,311		1,453,236		259,524		162,598
Prologis, L.P.								3,317,767		3,397,538		8,962,749		8,850,431		417,977		310,143
Limited partners in Prologis, L.P. ⁽²⁾⁽³⁾								1,308,044		917,799		-		-		-		-
Prologis, Inc.							$	4,625,811	$	4,315,337	$	8,962,749	$	8,850,431	$	417,977	$	310,143

(1)

Includes two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. The limited partnership units outstanding at December 31, 2022 and 2021 were exchangeable into cash or, at our option, 0.3 million shares of the Parent’s common stock.

(2)	We had 8.6 million Class A Units at December 31, 2022 and 2021 that were convertible into 8.0 million limited partnership units of the OP at the end of each year. See Note 10 for further discussion of our Class A Units.

(3)

There were limited partnership units in the OP, excluding the Class A Units, that were exchangeable into cash or, at our option, 10.0 million and 8.4 million shares of the Parent’s common stock, at December 31, 2022 and 2021, respectively. Also included are the vested OP Long-Term Incentive Plan Units (“LTIP Units”) associated with our long-term compensation plans of 4.6 million and 4.0 million shares of the Parent’s common stock at December 31, 2022 and 2021, respectively. See further discussion of LTIP Units in Note 12.