XML 57 R33.htm IDEA: XBRL DOCUMENT

Earnings Per Common Share or Unit (Tables)

9 Months Ended

Sep. 30, 2023

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				Nine Months Ended
	September 30,				September 30,
Prologis, Inc.	2023		2022		2023		2022
Net earnings attributable to common stockholders – Basic	$	746,174	$	1,013,933	$	2,423,897	$	2,773,042
Net earnings attributable to exchangeable limited partnership units (1)		19,054		28,792		61,497		78,648
Adjusted net earnings attributable to common stockholders – Diluted	$	765,228	$	1,042,725	$	2,485,394	$	2,851,690

Weighted average common shares outstanding – Basic		924,395		740,719		924,228		740,585
Incremental weighted average effect on exchange of limited partnership units (1)		23,627		21,230		23,615		21,246
Incremental weighted average effect of equity awards		3,886		4,423		3,800		4,188
Weighted average common shares outstanding – Diluted (2)		951,908		766,372		951,643		766,019

Net earnings per share attributable to common stockholders:
Basic	$	0.81	$	1.37	$	2.62	$	3.74
Diluted	$	0.80	$	1.36	$	2.61	$	3.72


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
Prologis, L.P.	2023			2022			2023			2022
Net earnings attributable to common unitholders	$	765,075		$	1,042,664		$	2,485,047		$	2,851,475
Net earnings attributable to Class A Units		(6,557	)		(10,995	)		(21,231	)		(30,018	)
Net earnings attributable to common unitholders – Basic		758,518			1,031,669			2,463,816			2,821,457
Net earnings attributable to Class A Units		6,557			10,995			21,231			30,018
Net earnings attributable to exchangeable other limited partnership units		153			61			347			215
Adjusted net earnings attributable to common unitholders – Diluted	$	765,228		$	1,042,725		$	2,485,394		$	2,851,690

Weighted average common partnership units outstanding – Basic		939,602			753,616			939,448			753,515
Incremental weighted average effect on exchange of Class A Units		8,121			8,034			8,096			8,017
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.		3,886			4,423			3,800			4,188
Weighted average common units outstanding – Diluted (2)		951,908			766,372			951,643			766,019

Net earnings per unit attributable to common unitholders:
Basic	$	0.81		$	1.37		$	2.62		$	3.74
Diluted	$	0.80		$	1.36		$	2.61		$	3.72

(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				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Class A Units		8,121		8,034		8,096		8,017
Other limited partnership units		299		299		299		299
Equity awards		7,252		6,557		7,347		6,309
Prologis, L.P.		15,672		14,890		15,742		14,625
Common limited partnership units		15,207		12,897		15,220		12,930
Prologis, Inc.		30,879		27,787		30,962		27,555