XML 49 R44.htm IDEA: XBRL DOCUMENT v3.3.0.814
Unconsolidated Entities - Summary of Unconsolidated Co-investment Ventures (Detail)
$ in Thousands, ft² in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2015
USD ($)
ft²
Property
Venture
Sep. 30, 2014
USD ($)
ft²
Property
Venture
Sep. 30, 2015
USD ($)
ft²
Property
Venture
Sep. 30, 2014
USD ($)
ft²
Property
Venture
Dec. 31, 2014
USD ($)
ft²
Property
Venture
Schedule Of Equity Method Investments [Line Items]          
Number of ventures | Venture 9 10 9 10 9
Number of properties owned | Property 1,342 1,494 1,342 1,494 1,278
Square feet | ft² 275.0 301.8 275.0 301.8 260.7
Total assets $ 22,852,000 $ 25,714,000 $ 22,852,000 $ 25,714,000 $ 22,661,000
Third-party debt 6,558,000 7,865,000 6,558,000 7,865,000 6,576,000
Total liabilities 7,901,000 9,291,000 7,901,000 9,291,000 7,694,000
Our investment balance [1] 4,631,000 5,641,000 4,631,000 5,641,000 $ 4,666,000
Revenues 458,561 525,671 1,364,449 1,509,774  
Net operating income 358,008 408,027 1,055,385 1,159,650  
Net earnings $ 94,162 $ 85,450 $ 302,270 $ 244,665  
Americas [Member]          
Schedule Of Equity Method Investments [Line Items]          
Number of ventures | Venture 3 4 3 4 3
Number of properties owned | Property 602 814 602 814 590
Square feet | ft² 89.2 130.5 89.2 130.5 87.1
Total assets $ 6,870,000 $ 9,396,000 $ 6,870,000 $ 9,396,000 $ 7,063,000
Third-party debt 2,025,000 3,309,000 2,025,000 3,309,000 2,280,000
Total liabilities 2,166,000 3,513,000 2,166,000 3,513,000 2,421,000
Our investment balance [1] 1,480,000 2,371,000 1,480,000 2,371,000 $ 1,537,000
Revenues [2] 152,196 204,225 457,048 551,153  
Net operating income [2] 118,146 154,415 347,616 405,900  
Net earnings [2] $ 33,561 $ 24,362 $ 77,606 $ 16,792  
Europe [Member]          
Schedule Of Equity Method Investments [Line Items]          
Number of ventures | Venture 4 4 4 4 4
Number of properties owned | Property 683 629 683 629 636
Square feet | ft² 158.5 145.3 158.5 145.3 147.4
Total assets $ 11,734,000 $ 11,952,000 $ 11,734,000 $ 11,952,000 $ 11,463,000
Third-party debt 2,786,000 2,798,000 2,786,000 2,798,000 2,644,000
Total liabilities 3,766,000 3,823,000 3,766,000 3,823,000 3,524,000
Our investment balance [1] 2,796,000 2,894,000 2,796,000 2,894,000 $ 2,773,000
Revenues 237,914 250,477 702,772 749,433  
Net operating income 186,779 198,011 548,705 590,856  
Net earnings $ 50,504 $ 38,708 $ 168,947 $ 166,999  
Asia [Member]          
Schedule Of Equity Method Investments [Line Items]          
Number of ventures | Venture 2 2 2 2 2
Number of properties owned | Property 57 51 57 51 52
Square feet | ft² 27.3 26.0 27.3 26.0 26.2
Total assets $ 4,248,000 $ 4,366,000 $ 4,248,000 $ 4,366,000 $ 4,135,000
Third-party debt 1,747,000 1,758,000 1,747,000 1,758,000 1,652,000
Total liabilities 1,969,000 1,955,000 1,969,000 1,955,000 1,749,000
Our investment balance [1],[3] 355,000 376,000 355,000 376,000 $ 356,000
Revenues 68,451 70,969 204,629 209,188  
Net operating income 53,083 55,601 159,064 162,894  
Net earnings $ 10,097 $ 22,380 $ 55,717 $ 60,874  
Weighted Average [Member]          
Schedule Of Equity Method Investments [Line Items]          
Our weighted average ownership [4] 32.10% 35.40% 32.10% 35.40% 32.00%
Weighted Average [Member] | Americas [Member]          
Schedule Of Equity Method Investments [Line Items]          
Our weighted average ownership [4] 29.70% 40.20% 29.70% 40.20% 31.00%
Weighted Average [Member] | Europe [Member]          
Schedule Of Equity Method Investments [Line Items]          
Our weighted average ownership [4] 39.50% 38.80% 39.50% 38.80% 38.80%
Weighted Average [Member] | Asia [Member]          
Schedule Of Equity Method Investments [Line Items]          
Our weighted average ownership [4] 15.00% 15.00% 15.00% 15.00% 15.00%
[1] The difference between our ownership interest of a venture’s equity and our investment balance results principally from three types of transactions: (i) deferring a portion of the gains we recognize from a contribution of a property to a venture ($411.2 million and $322.9 million at September 30, 2015, and December 31, 2014, respectively); (ii) recording additional costs associated with our investment in a venture; and (iii) advances to a venture.
[2] As discussed in Note 3, we formed and invested in FIBRA Prologis in June 2014. In connection with the transaction, we concluded our unconsolidated co-investment venture in Mexico. As discussed in Note 2, we began consolidating NAIF in October 2014.
[3] At September 30, 2015, and December 31, 2014, we had receivables from Nippon Prologis REIT, Inc. (“NPR”) of $86.2 million and $85.9 million, respectively, related to customer security deposits that were made through a leasing company owned by Prologis that pertain to properties owned by NPR. There is a corresponding payable to NPR’s customers in Other Liabilities in the Consolidated Balance Sheets.
[4] Represents our weighted average ownership interest in all co-investment ventures based on each entity’s contribution of total assets, before depreciation, net of other liabilities.