XML 22 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Revenues:        
Rental income $ 297,044 $ 372,491 $ 941,969 $ 1,096,600
Rental recoveries 82,268 94,240 258,334 276,107
Investment management income 48,322 31,714 125,565 95,064
Development management and other income 2,551 1,017 7,872 5,859
Total revenues 430,185 499,462 1,333,740 1,473,630
Expenses:        
Rental expenses 108,912 126,431 353,272 369,284
Investment management expenses 22,023 15,730 66,938 47,686
General and administrative expenses 55,034 55,886 166,140 167,460
Depreciation and amortization 158,889 190,148 492,690 547,036
Other expenses 6,370 5,580 17,494 17,142
Merger, acquisition and other integration expenses   20,659   52,573
Impairment of real estate properties   9,778   12,963
Total expenses 351,228 424,212 1,096,534 1,214,144
Operating income 78,957 75,250 237,206 259,486
Other income (expense):        
Earnings from unconsolidated entities, net 26,365 2,563 59,554 20,447
Interest expense (84,885) (122,817) (292,383) (383,369)
Interest and other income, net 5,653 8,758 21,772 19,771
Gains on acquisitions and dispositions of investments in real estate, net 46,074 12,677 445,954 280,968
Foreign currency and derivative gains (losses), net 6,875 (5,908) 15 (19,930)
Gains (losses) on early extinguishment of debt, net (114,196)   (164,155) 4,919
Impairment of other assets       (16,135)
Total other income (expense) (114,114) (104,727) 70,757 (93,329)
Earnings (loss) before income taxes (35,157) (29,477) 307,963 166,157
Current income tax expense (benefit) 11,012 (18,099) 91,357 10,969
Deferred income tax expense (benefit) 1,168 (1,884) (6,823) (10,753)
Total income tax expense (benefit) 12,180 (19,983) 84,534 216
Earnings (loss) from continuing operations (47,337) (9,494) 223,429 165,941
Discontinued operations:        
Income (loss) attributable to disposed properties and assets held for sale (127) 8,054 1,753 29,262
Net gains (losses) on dispositions, including related impairment charges and taxes 40,297 (31,458) 59,598 (10,335)
Total discontinued operations 40,170 (23,404) 61,351 18,927
Consolidated net earnings (loss) (7,167) (32,898) 284,780 184,868
Net loss (earnings) attributable to noncontrolling interests 1,768 (3,323) (3,051) (6,180)
Net earnings (loss) attributable to controlling interests (5,399) (36,221) 281,729 178,688
Preferred stock dividends 2,135 10,305 16,256 30,921
Loss on preferred stock redemption     9,108  
Net earnings (loss) attributable to common stockholders (7,534) (46,526) 256,365 147,767
Weighted average common shares outstanding - Basic 497,989 460,079 482,007 459,720
Weighted average common shares outstanding - Diluted 499,848 461,979 488,409 464,938
Net earnings (loss) per share attributable to common stockholders - Basic:        
Continuing operations $ (0.10) $ (0.05) $ 0.40 $ 0.28
Discontinued operations $ 0.08 $ (0.05) $ 0.13 $ 0.04
Net earnings (loss) per share attributable to common stockholders - Basic $ (0.02) $ (0.10) $ 0.53 $ 0.32
Net earnings (loss) per share attributable to common stockholders - Diluted:        
Continuing operations $ (0.10) $ (0.05) $ 0.40 $ 0.28
Discontinued operations $ 0.08 $ (0.05) $ 0.13 $ 0.04
Net earnings (loss) per share attributable to common stockholders - Diluted $ (0.02) $ (0.10) $ 0.53 $ 0.32
Dividends per common share $ 0.28 $ 0.28 $ 0.84 $ 0.84
Prologis, L.P. [Member]
       
Revenues:        
Rental income 297,044 372,491 941,969 1,096,600
Rental recoveries 82,268 94,240 258,334 276,107
Investment management income 48,322 31,714 125,565 95,064
Development management and other income 2,551 1,017 7,872 5,859
Total revenues 430,185 499,462 1,333,740 1,473,630
Expenses:        
Rental expenses 108,912 126,431 353,272 369,284
Investment management expenses 22,023 15,730 66,938 47,686
General and administrative expenses 55,034 55,886 166,140 167,460
Depreciation and amortization 158,889 190,148 492,690 547,036
Other expenses 6,370 5,580 17,494 17,142
Merger, acquisition and other integration expenses   20,659   52,573
Impairment of real estate properties   9,778   12,963
Total expenses 351,228 424,212 1,096,534 1,214,144
Operating income 78,957 75,250 237,206 259,486
Other income (expense):        
Earnings from unconsolidated entities, net 26,365 2,563 59,554 20,447
Interest expense (84,885) (122,817) (292,383) (383,369)
Interest and other income, net 5,653 8,758 21,772 19,771
Gains on acquisitions and dispositions of investments in real estate, net 46,074 12,677 445,954 280,968
Foreign currency and derivative gains (losses), net 6,875 (5,908) 15 (19,930)
Gains (losses) on early extinguishment of debt, net (114,196)   (164,155) 4,919
Impairment of other assets       (16,135)
Total other income (expense) (114,114) (104,727) 70,757 (93,329)
Earnings (loss) before income taxes (35,157) (29,477) 307,963 166,157
Current income tax expense (benefit) 11,012 (18,099) 91,357 10,969
Deferred income tax expense (benefit) 1,168 (1,884) (6,823) (10,753)
Total income tax expense (benefit) 12,180 (19,983) 84,534 216
Earnings (loss) from continuing operations (47,337) (9,494) 223,429 165,941
Discontinued operations:        
Income (loss) attributable to disposed properties and assets held for sale (127) 8,054 1,753 29,262
Net gains (losses) on dispositions, including related impairment charges and taxes 40,297 (31,458) 59,598 (10,335)
Total discontinued operations 40,170 (23,404) 61,351 18,927
Consolidated net earnings (loss) (7,167) (32,898) 284,780 184,868
Net loss (earnings) attributable to noncontrolling interests 1,720 (3,475) (2,042) (5,444)
Net earnings (loss) attributable to controlling interests (5,447) (36,373) 282,738 179,424
Preferred stock dividends 2,135 10,305 16,256 30,921
Loss on preferred stock redemption     9,108  
Net earnings (loss) attributable to common stockholders $ (7,582) $ (46,678) $ 257,374 $ 148,503
Weighted average common shares outstanding - Basic 499,848 461,979 483,889 461,693
Weighted average common shares outstanding - Diluted 499,848 461,979 488,409 464,938
Net earnings (loss) per share attributable to common stockholders - Basic:        
Continuing operations $ (0.10) $ (0.05) $ 0.40 $ 0.28
Discontinued operations $ 0.08 $ (0.05) $ 0.13 $ 0.04
Net earnings (loss) per share attributable to common stockholders - Basic $ (0.02) $ (0.10) $ 0.53 $ 0.32
Net earnings (loss) per share attributable to common stockholders - Diluted:        
Continuing operations $ (0.10) $ (0.05) $ 0.40 $ 0.28
Discontinued operations $ 0.08 $ (0.05) $ 0.13 $ 0.04
Net earnings (loss) per share attributable to common stockholders - Diluted $ (0.02) $ (0.10) $ 0.53 $ 0.32
Dividends per common share $ 0.28 $ 0.28 $ 0.84 $ 0.84