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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues:        
Rental $ 426,150 $ 357,828 $ 863,254 $ 682,375
Rental recoveries 119,981 103,616 236,993 197,871
Strategic capital 51,322 47,046 100,988 89,071
Development management and other 4,702 1,914 7,220 3,934
Total revenues 602,155 510,404 1,208,455 973,251
Expenses:        
Rental 140,725 125,820 287,306 252,915
Strategic capital 27,866 24,947 53,159 50,129
General and administrative 56,934 51,974 107,477 103,280
Depreciation and amortization 230,382 190,188 480,382 359,996
Other 3,900 30,127 8,585 35,702
Total expenses 459,807 423,056 936,909 802,022
Operating income 142,348 87,348 271,546 171,229
Other income (expense):        
Earnings from unconsolidated entities, net 41,454 41,784 99,765 72,826
Interest expense (76,455) (68,902) (157,267) (137,663)
Interest and other income, net 1,527 1,847 4,118 12,896
Gains on dispositions of investments in real estate, net 200,350 108,782 344,667 386,497
Foreign currency and derivative gains (losses), net (10,335) (25,512) (24,546) 9,054
Gains (losses) on early extinguishment of debt, net 2,044 (236) 992 (16,525)
Total other income 158,585 57,763 267,729 327,085
Earnings before income taxes 300,933 145,111 539,275 498,314
Total income tax expense 5,142 4,851 20,679 6,742
Consolidated net earnings 295,791 140,260 518,596 491,572
Less net earnings (loss) attributable to noncontrolling interests 18,712 (1,658) 31,787 2,778
Net earnings attributable to controlling interests 277,079 141,918 486,809 488,794
Less preferred stock/unit dividends/distributions 1,696 1,678 3,385 3,348
Net earnings attributable to common stockholders/unitholders $ 275,383 $ 140,240 $ 483,424 $ 485,446
Weighted average common shares/units outstanding – Basic 524,842 523,476 524,540 518,791
Weighted average common shares/units outstanding – Diluted 545,388 530,640 544,293 529,827
Net earnings per share attributable to common stockholders/unitholders – Basic $ 0.52 $ 0.27 $ 0.92 $ 0.94
Net earnings per share attributable to common stockholders/unitholders – Diluted 0.52 0.27 0.92 0.92
Dividends per common share or unit $ 0.42 $ 0.36 $ 0.84 $ 0.72
Prologis, L.P. [Member]        
Revenues:        
Rental $ 426,150 $ 357,828 $ 863,254 $ 682,375
Rental recoveries 119,981 103,616 236,993 197,871
Strategic capital 51,322 47,046 100,988 89,071
Development management and other 4,702 1,914 7,220 3,934
Total revenues 602,155 510,404 1,208,455 973,251
Expenses:        
Rental 140,725 125,820 287,306 252,915
Strategic capital 27,866 24,947 53,159 50,129
General and administrative 56,934 51,974 107,477 103,280
Depreciation and amortization 230,382 190,188 480,382 359,996
Other 3,900 30,127 8,585 35,702
Total expenses 459,807 423,056 936,909 802,022
Operating income 142,348 87,348 271,546 171,229
Other income (expense):        
Earnings from unconsolidated entities, net 41,454 41,784 99,765 72,826
Interest expense (76,455) (68,902) (157,267) (137,663)
Interest and other income, net 1,527 1,847 4,118 12,896
Gains on dispositions of investments in real estate, net 200,350 108,782 344,667 386,497
Foreign currency and derivative gains (losses), net (10,335) (25,512) (24,546) 9,054
Gains (losses) on early extinguishment of debt, net 2,044 (236) 992 (16,525)
Total other income 158,585 57,763 267,729 327,085
Earnings before income taxes 300,933 145,111 539,275 498,314
Total income tax expense 5,142 4,851 20,679 6,742
Consolidated net earnings 295,791 140,260 518,596 491,572
Less net earnings (loss) attributable to noncontrolling interests 10,396 (2,956) 17,237 198
Net earnings attributable to controlling interests 285,395 143,216 501,359 491,374
Less preferred stock/unit dividends/distributions 1,696 1,678 3,385 3,348
Net earnings attributable to common stockholders/unitholders $ 283,699 $ 141,538 $ 497,974 $ 488,026
Weighted average common shares/units outstanding – Basic 531,912 527,071 531,507 521,548
Weighted average common shares/units outstanding – Diluted 545,388 530,640 544,293 529,827
Net earnings per share attributable to common stockholders/unitholders – Basic $ 0.52 $ 0.27 $ 0.92 $ 0.94
Net earnings per share attributable to common stockholders/unitholders – Diluted 0.52 0.27 0.92 0.92
Dividends per common share or unit $ 0.42 $ 0.36 $ 0.84 $ 0.72