Unconsolidated Entities (Tables)

9 Months Ended

Sep. 30, 2023

Schedule Of Equity Method Investments [Line Items]

Summary of Investments in and Advances to our Unconsolidated Entities

The following table summarizes our investments in and advances to unconsolidated entities (in thousands):

	September 30,		December 31,
	2023		2022
Unconsolidated co-investment ventures	$	7,953,412	$	8,073,927
Other ventures (1)		1,138,412		1,624,971
Total	$	9,091,824	$	9,698,898

(1)Included in other ventures is our $193.2 million and $162.6 million investment in early and growth-stage companies that are focused on emerging technologies in the logistics sector at September 30, 2023 and December 31, 2022, respectively.

Unconsolidated Co-Investment Ventures [Member]

Schedule Of Equity Method Investments [Line Items]

Summary of Investments in and Advances to our Unconsolidated Entities

The following table summarizes the key property information, financial position and operating information of our unconsolidated co-investment ventures on a U.S. GAAP basis (not our proportionate share) and the amounts we recognized in the Consolidated Financial Statements related to these ventures (dollars and square feet in millions):

	U.S.						Other Americas (1)						Europe						Asia (2)						Total
At:	Sep 30, 2023			Dec 31, 2022			Sep 30, 2023			Dec 31, 2022			Sep 30, 2023			Dec 31, 2022			Sep 30, 2023			Dec 31, 2022			Sep 30, 2023			Dec 31, 2022
Key property information:
Ventures		1			1			2			2			2			2			4			3			9			8
Operating properties		741			739			266			260			995			989			226			217			2,228			2,205
Square feet		124			123			61			60			220			219			94			89			499			491
Financial position:
Total assets ($)		11,747			12,617			4,056			3,744			22,222			22,502			9,807			9,964			47,832			48,827
Third-party debt ($)		4,039			3,468			916			919			5,462			5,315			3,913			3,811			14,330			13,513
Total liabilities ($)		4,738			4,143			1,025			1,011			7,428			7,292			4,330			4,279			17,521			16,725
Our investment balance ($) (3)		2,294			2,398			1,142			1,070			3,736			3,786			781			820			7,953			8,074
Our weighted average ownership (4)		27.3	%		26.2	%		38.7	%		41.0	%		31.3	%		31.0	%		15.2	%		15.2	%		27.7	%		27.4	%
	U.S.						Other Americas (1)						Europe						Asia						Total
Operating Information:	Sep 30, 2023			Sep 30, 2022			Sep 30, 2023			Sep 30, 2022			Sep 30, 2023			Sep 30, 2022			Sep 30, 2023			Sep 30, 2022			Sep 30, 2023			Sep 30, 2022
For the three months ended:
Total revenues ($)		330			297			109			97			429			342			164			152			1,032			888
Net earnings ($)		86			73			52			35			66			113			28			34			232			255
Our earnings from unconsolidated      co-investment ventures, net ($)		24			20			18			12			23			41			5			5			70			78
For the nine months ended:
Total revenues ($)		983			874			314			282			1,255			1,052			491			478			3,043			2,686
Net earnings ($)		262			213			142			99			226			344			56			100			686			756
Our earnings from unconsolidated      co-investment ventures, net ($)		71			58			49			34			74			111			10			16			204			219

(1)Prologis Brazil Logistics Venture (“PBLV”) and our other Brazilian joint ventures are combined as one venture for the purpose of this table.

(2)In April 2023, we formed Prologis Japan Core Logistics Fund ("PJLF") with two investors through the initial contribution of assets for which we received cash and equity ownership. We made additional contributions to PJLF in the third quarter of 2023. We account for our investment in PJLF under the equity method of accounting. At September 30, 2023, our ownership interest was 16.3%.

(3)Prologis’ investment balance is presented at our adjusted basis. The difference between our ownership interest of a venture’s equity and our investment balance at September 30, 2023 and December 31, 2022, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018; (ii) recording additional costs associated with our investment in the venture; (iii) receivables, principally for fees and promotes ($255.3 million and $193.7 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to Nippon Prologis REIT, Inc.

(4)Represents our weighted average ownership interest in all unconsolidated co-investment ventures based on each entity’s contribution of total assets before depreciation, net of other liabilities.

Summary of Strategic Capital Revenues Recognized in Consolidated Statements of Income Related to Co-Investment Ventures

The following table summarizes the Strategic Capital Revenues we recognized in the Consolidated Statements of Income related to our unconsolidated co-investment ventures (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Recurring fees	$	113,947	$	115,902	$	340,842	$	344,945
Transactional fees		15,757		19,805		44,359		54,553
Promote revenue (1)		3,993		456,038		673,665		475,552
Total strategic capital revenues from unconsolidated      co-investment ventures (2)	$	133,697	$	591,745	$	1,058,866	$	875,050

(1)Includes promote revenue earned from unconsolidated co-investment ventures in the U.S. and Mexico in June 2023 and in Europe in September 2022.

(2)These amounts exclude strategic capital revenues from other ventures.