The following table summarizes our ownership percentages and noncontrolling interests and the consolidated entities’ total assets and total liabilities at December 31 (dollars in thousands):

	Our Ownership Percentage						Noncontrolling Interests				Total Assets				Total Liabilities
	2017			2016			2017		2016		2017		2016		2017		2016
Prologis U.S. Logistics Venture		55.0	%		55.0	%	$	2,581,629	$	2,424,800	$	6,030,819	$	6,201,278	$	284,162	$	797,593
Prologis North American Industrial Fund (1)	N/A				66.1	%		-		486,648		-		2,479,072		-		1,038,708
Prologis Brazil Logistics Partners Fund I (2)	N/A				50.0	%		-		61,836		-		131,581		-		720
Other consolidated entities (3)	various			various				78,613		99,185		806,138		866,821		30,330		34,073
Prologis, L.P.								2,660,242		3,072,469		6,836,957		9,678,752		314,492		1,871,094
Limited partners in Prologis, L.P. (4) (5)								414,341		394,590		-		-		-		-
Prologis, Inc.							$	3,074,583	$	3,467,059	$	6,836,957	$	9,678,752	$	314,492	$	1,871,094

(1)

In March 2017, we acquired all our partner’s interest for $710.2 million. The difference between the amount we paid and the noncontrolling interest balance was recorded to Additional Paid-in Capital with no gain or loss recognized. In July 2017, we contributed substantially all the assets formerly owned by NAIF to our unconsolidated co-investment venture, USLF.

(2)

In March 2017, we acquired all our partner’s interest for $79.8 million. The difference between the amount we paid and the noncontrolling interest balance was recorded to Additional Paid-in Capital with no gain or loss recognized. At December 31, 2016, the assets of the Prologis Brazil Logistics Partners Fund I were primarily investments in unconsolidated entities of $113.1 million, most of which we gained control of and began consolidating in August 2017. See Note 4 for more information on the acquisition of our partner’s interest in certain joint ventures in Brazil.

(3)

This line item includes our two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. The limited partnership units outstanding at December 31, 2017 and 2016 were exchangeable into cash or, at our option, 1.0 million and 1.8 million shares of the Parent’s common stock with a fair value of $64.3 million and $96.9 million, respectively, based on the closing stock price of the Parent’s common stock. In 2017, limited partnership units were exchanged for 0.8 million shares of the Parent’s common stock. All of these outstanding limited partnership units receive quarterly cash distributions equal to the quarterly dividends paid on our common stock pursuant to the terms of the applicable partnership agreements.

(4)	We had 8.9 million Class A Units that were convertible into 8.5 million and 8.7 million limited partnership units of the OP at December 31, 2017 and 2016, respectively. See Note 11 for further discussion of our Class A Units.

(5)

At December 31, 2017 and 2016, excluding the Class A Units, there were limited partnership units in the OP that were exchangeable into cash or, at our option, 4.1 million and 4.6 million shares of the Parent’s common stock with a fair value of $266.1 million and $241.8 million, respectively, based on the closing stock price of the Parent’s common stock. In 2017 and 2016 unitholders exchanged 0.7 million and 1.9 million limited partnership units into an equal number of shares of the Parent’s common stock.