Earnings Per Common Share or Unit (Tables)

6 Months Ended

Jun. 30, 2023

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 was as follows (in thousands, except per share and unit amounts):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
Prologis, Inc.	2023		2022		2023		2022
Net earnings attributable to common stockholders – Basic	$	1,214,553	$	609,855	$	1,677,723	$	1,759,109
Net earnings attributable to exchangeable limited partnership units (1)		30,700		17,518		42,443		49,856
Adjusted net earnings attributable to common stockholders – Diluted	$	1,245,253	$	627,373	$	1,720,166	$	1,808,965
Weighted average common shares outstanding – Basic		924,191		740,637		924,087		740,506
Incremental weighted average effect on exchange of limited      partnership units (1)		23,453		21,289		23,570		21,221
Incremental weighted average effect of equity awards		4,062		4,148		3,981		4,132
Weighted average common shares outstanding – Diluted (2)		951,706		766,074		951,638		765,859
Net earnings per share attributable to common stockholders:
Basic	$	1.31	$	0.82	$	1.82	$	2.38
Diluted	$	1.31	$	0.82	$	1.81	$	2.36

	Three Months Ended						Six Months Ended
	June 30,						June 30,
Prologis, L.P.	2023			2022			2023			2022
Net earnings attributable to common unitholders	$	1,245,153		$	627,286		$	1,719,972		$	1,808,811
Net earnings attributable to Class A Units		(10,629	)		(6,608	)		(14,674	)		(19,023	)
Net earnings attributable to common unitholders – Basic		1,234,524			620,678			1,705,298			1,789,788
Net earnings attributable to Class A Units		10,629			6,608			14,674			19,023
Net earnings attributable to exchangeable other limited partnership units		100			87			194			154
Adjusted net earnings attributable to common unitholders – Diluted	$	1,245,253		$	627,373		$	1,720,166		$	1,808,965
Weighted average common partnership units outstanding – Basic		939,250			753,610			939,276			753,420
Incremental weighted average effect on exchange of Class A Units		8,095			8,017			8,082			8,008
Incremental weighted average effect on exchange of other limited      partnership units		299			299			299			299
Incremental weighted average effect of equity awards of Prologis, Inc.		4,062			4,148			3,981			4,132
Weighted average common units outstanding – Diluted (2)		951,706			766,074			951,638			765,859
Net earnings per unit attributable to common unitholders:
Basic	$	1.31		$	0.82		$	1.82		$	2.38
Diluted	$	1.31		$	0.82		$	1.81		$	2.36

(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 consisted of the following:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
Class A Units		8,095		8,017		8,082		8,008
Other limited partnership units		299		299		299		299
Equity awards		7,360		6,353		7,486		6,219
Prologis, L.P.		15,754		14,669		15,867		14,526
Common limited partnership units		15,058		12,973		15,188		12,914
Prologis, Inc.		30,812		27,642		31,055		27,440