Earnings Per Common Share or Unit (Tables)

12 Months Ended

Dec. 31, 2022

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.	2022		2021		2020
Net earnings attributable to common stockholders – Basic	$	3,358,796	$	2,933,571	$	1,473,122
Net earnings attributable to exchangeable limited partnership units (1)		92,236		82,092		41,938
Adjusted net earnings attributable to common stockholders – Diluted	$	3,451,032	$	3,015,663	$	1,515,060
Weighted average common shares outstanding – Basic		785,675		739,363		728,323
Incremental weighted average effect on exchange of limited partnership units (1)		21,803		20,913		20,877
Incremental weighted average effect of equity awards		4,130		4,486		5,214
Weighted average common shares outstanding – Diluted (2)		811,608		764,762		754,414
Net earnings per share attributable to common stockholders:
Basic	$	4.28	$	3.97	$	2.02
Diluted	$	4.25	$	3.94	$	2.01

Prologis, L.P.	2022			2021			2020
Net earnings attributable to common unitholders	$	3,450,727		$	3,015,363		$	1,514,743
Net earnings attributable to Class A Units		(34,311	)		(31,758	)		(16,262	)
Net earnings attributable to common unitholders – Basic		3,416,416			2,983,605			1,498,481
Net earnings attributable to Class A Units		34,311			31,758			16,262
Net earnings attributable to exchangeable other limited partnership units		305			300			317
Adjusted net earnings attributable to common unitholders – Diluted	$	3,451,032		$	3,015,663		$	1,515,060
Weighted average common partnership units outstanding – Basic		799,153			751,973			740,860
Incremental weighted average effect on exchange of Class A Units		8,026			8,004			8,041
Incremental weighted average effect on exchange of other limited partnership units		299			299			299
Incremental weighted average effect of equity awards of Prologis, Inc.		4,130			4,486			5,214
Weighted average common units outstanding – Diluted (2)		811,608			764,762			754,414
Net earnings per unit attributable to common unitholders:
Basic	$	4.28		$	3.97		$	2.02
Diluted	$	4.25		$	3.94		$	2.01

(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:

	2022		2021		2020
Class A Units		8,026		8,004		8,041
Other limited partnership units		299		299		299
Equity awards		6,298		6,719		7,798
Prologis, L.P.		14,623		15,022		16,138
Common limited partnership units		13,478		12,610		12,537
Prologis, Inc.		28,101		27,632		28,675