Noncontrolling Interests (Tables)

3 Months Ended

Mar. 31, 2020

Summary of Ownership Percentages and Noncontrolling Interests

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

	Our Ownership Percentage						Noncontrolling Interests				Total Assets				Total Liabilities
	Mar 31, 2020			Dec 31, 2019			Mar 31, 2020		Dec 31, 2019		Mar 31, 2020		Dec 31, 2019		Mar 31, 2020		Dec 31, 2019
Prologis U.S. Logistics Venture ⁽¹⁾		55.0	%		55.0	%	$	3,493,533	$	2,677,846	$	7,879,419	$	6,077,016	$	123,772	$	99,397
Other consolidated entities⁽²⁾	various			various				98,453		97,548		1,004,525		849,620		79,221		85,186
Prologis, L.P.								3,591,986		2,775,394		8,883,944		6,926,636		202,993		184,583
Limited partners in Prologis, L.P. ⁽³⁾⁽⁴⁾								924,442		643,263		-		-		-		-
Prologis, Inc.							$	4,516,428	$	3,418,657	$	8,883,944	$	6,926,636	$	202,993	$	184,583

(1)	As discussed in Note 3, in January 2020, USLV acquired a portfolio of 127 operating properties, aggregating 19.0 million square feet, in the IPT Transaction for $2.0 billion, including transaction costs and the assumption and repayment of debt.

(2)

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 March 31, 2020 and December 31, 2019 were exchangeable into cash or, at our option, 0.3 million shares of the Parent’s common stock.

(3)	We had 8.6 million Class A Units that were convertible into 8.1 million limited partnership units of the OP at March 31, 2020 and December 31, 2019.

(4)

At March 31, 2020 and December 31, 2019, excluding the Class A Units, there were limited partnership units in the OP that were exchangeable into cash or, at our option, 8.5 million and 6.2 million shares of the Parent’s common stock, respectively. We issued 2.3 million limited partnership units in the Liberty Transaction. Also included are the vested OP Long-Term Incentive Plan Units (“LTIP Units”) associated with our long-term compensation plan. See further discussion of LTIP Units in Note 9.