Earnings Per Common Share or Unit (Tables)

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share Unit

The computation of our basic and diluted earnings per share and unit was as follows (in thousands, except per share and unit amounts):

	Three Months Ended
	March 31,
Prologis, Inc.	2020		2019
Net earnings attributable to common stockholders – Basic	$	489,418	$	347,047
Net earnings attributable to exchangeable limited partnership units (1)		14,049		10,657
Adjusted net earnings attributable to common stockholders – Diluted	$	503,467	$	357,704
Weighted average common shares outstanding – Basic		698,272		629,676
Incremental weighted average effect on exchange of limited partnership units (1)		20,230		19,718
Incremental weighted average effect of equity awards		5,481		4,965
Weighted average common shares outstanding – Diluted (2)		723,983		654,359
Net earnings per share attributable to common stockholders:
Basic	$	0.70	$	0.55
Diluted	$	0.70	$	0.55

	Three Months Ended
	March 31,
Prologis, L.P.	2020			2019
Net earnings attributable to common unitholders	$	503,388		$	357,621
Net earnings attributable to Class A Units		(5,651	)		(4,606	)
Net earnings attributable to common unitholders – Basic		497,737			353,015
Net earnings attributable to Class A Units		5,651			4,606
Net earnings attributable to exchangeable other limited partnership units		79			83
Adjusted net earnings attributable to common unitholders – Diluted	$	503,467		$	357,704
Weighted average common partnership units outstanding – Basic		710,141			640,504
Incremental weighted average effect on exchange of Class A Units		8,062			8,356
Incremental weighted average effect on exchange of other limited partnership units		299			534
Incremental weighted average effect of equity awards of Prologis, Inc.		5,481			4,965
Weighted average common units outstanding – Diluted (2)		723,983			654,359
Net earnings per unit attributable to common unitholders:
Basic	$	0.70		$	0.55
Diluted	$	0.70		$	0.55

(1) The exchangeable limited partnership units include the units as discussed in Note 8. Earnings allocated to the exchangeable OP units not held by the Parent have been included in the numerator and exchangeable common 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) Our total weighted average potentially dilutive shares and units outstanding consisted of the following:  

	Three Months Ended
	March 31,
	2020		2019
Class A Units		8,062		8,356
Other limited partnership units		299		534
Equity awards		7,709		7,673
Prologis, L.P.		16,070		16,563
Common limited partnership units		11,869		10,828
Prologis, Inc.		27,939		27,391