Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Elements [Abstract]

NOTE 18. SUPPLEMENTAL CASH FLOW INFORMATION

Our significant noncash investing and financing activities for the years ended December 31, 2019, 2018 and 2017 included the following:

•	We recognized Lease ROU Assets and Lease Liabilities on the Consolidated Balance Sheets, including any new leases, renewals, modifications and terminations after January 1, 2019 of $523.8 million and $527.3 million, respectively, related to leases in which we are the lessee.

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We capitalized $21.4 million, $26.4 million and $28.8 million in 2019, 2018 and 2017, respectively, of equity-based compensation expense. Beginning January 1, 2019, upon adoption of the new lease standard, we capitalized equity-based compensation expenses related to development activities only. Internal costs related to our leasing activities are expensed as incurred.

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We received $646.8 million, $386.7 million and $153.3 million of ownership interests in certain unconsolidated co-investment ventures as a portion of our proceeds from the contribution of properties to these entities during 2019, 2018 and 2017, respectively, as disclosed in Note 5. Included in 2019 was our initial 20.0% investment in PBLV in exchange for our contribution of the initial portfolio of properties to PBLV upon formation.

•	An unconsolidated co-investment venture in Europe declared a distribution of $80.9 million which we subsequently reinvested and increased our ownership in 2019.

•	We and our existing partner in Prologis China Logistics Venture I, LP received equity interests in PCCLF for the contribution of the existing portfolio of assets in 2019. Our ownership percentage in PCCLF was 15.6% subsequent to the contribution.

•	We purchased our partners’ interest in a consolidated venture through the distribution of an operating property for $11.4 million in 2019. We formed a consolidated venture into which our partner contributed $11.8 million of land in 2018.

•	We issued 1.2 million and 1.5 million shares in 2019 and 2017, respectively, of the Parent’s common stock upon redemption of an equal number of common limited partnership units in the OP.

•	We completed the DCT Transaction on August 22, 2018 for $8.5 billion through the issuance of equity and the assumption of debt. See Note 3 for more information on this transaction.

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We contributed operating properties owned by NAIF to USLF in 2017. As a result, we received $1.1 billion of units or ownership interest in USLF as a portion of our proceeds from this contribution. In addition, USLF acquired the $19.5 million note receivable backed by real estate we received in 2017 and assumed $956.0 million of secured mortgage debt.

•	We received $53.8 million of notes receivable backed by real estate in exchange for the disposition of real estate in 2017.