The computation of our basic and diluted earnings per share and unit for the years ended December 31 (in thousands, except per share and unit amounts) is as follows:

Prologis, Inc.	2016		2015			2014
Net earnings attributable to common stockholders – Basic	$	1,203,218	$	862,788		$	622,235
Net earnings attributable to exchangeable limited partnership units (1)		37,079		13,120			3,636
Gains, net of expenses, associated with exchangeable debt assumed exchanged (2)		-		(1,614	)		-
Adjusted net earnings attributable to common stockholders – Diluted	$	1,240,297	$	874,294		$	625,871

Weighted average common shares outstanding – Basic		526,103		521,241			499,583
Incremental weighted average effect on exchange of limited partnership units (1)		16,833		8,569			3,501
Incremental weighted average effect of equity awards and warrant		3,730		1,961			3,307
Incremental weighted average effect on exchangeable debt assumed exchanged (2)		-		2,173			-
Weighted average common shares outstanding – Diluted (3)		546,666		533,944			506,391

Net earnings per share attributable to common stockholders:
Basic	$	2.29	$	1.66		$	1.25
Diluted	$	2.27	$	1.64		$	1.24

Prologis, L.P.	2016			2015			2014
Net earnings attributable to common unitholders	$	1,237,519		$	873,914		$	624,436
Net earnings attributable to Class A convertible common unitholders		(20,069	)		(3,393	)		-
Net earnings attributable to common unitholders – Basic	$	1,217,450		$	870,521		$	624,436
Net earnings attributable to Class A convertible common unitholders		20,069			3,393			-
Net earnings attributable to exchangeable limited partnership units		2,778			1,994			1,435
Gain, net of expenses, associated with exchangeable debt assumed exchanged (2)		-			(1,614	)		-
Adjusted net earnings attributable to common unitholders – Diluted	$	1,240,297		$	874,294		$	625,871

Weighted average common partnership units outstanding – Basic		532,326			525,912			501,349
Incremental weighted average effect on exchange of Class A convertible units		8,775			2,050			-
Incremental weighted average effect on exchange of limited partnership units		1,835			1,848			1,735
Incremental weighted average effect of equity awards and warrant of Prologis, Inc.		3,730			1,961			3,307
Incremental weighted average effect on exchangeable debt assumed exchanged (2)		-			2,173			-
Weighted average common partnership units outstanding – Diluted (3)		546,666			533,944			506,391

Net earnings per unit attributable to common unitholders:
Basic	$	2.29		$	1.66		$	1.25
Diluted	$	2.27		$	1.64		$	1.24

(1)

Earnings allocated to the exchangeable Operating Partnership units not held by the Parent have been included in the numerator and exchangeable Operating Partnership 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)	In March 2015, the exchangeable debt was settled primarily through the issuance of common stock. The adjustment in 2015 assumes the exchange occurred on January 1, 2015.

(3)	Our total potentially dilutive shares and units outstanding consisted of the following:

	2016		2015		2014
Total weighted average potentially dilutive limited partnership units		10,610		3,898		1,932
Total potentially dilutive stock awards		8,444		7,299		14,366
Total weighted average potentially dilutive shares and units from exchangeable debt		-		2,173		11,879
Total Prologis, L.P.		19,054		13,370		28,177
Limited partners in Prologis, L.P.		6,223		4,671		1,766
Total Prologis, Inc.		25,277		18,041		29,943