XML 107 R47.htm IDEA: XBRL DOCUMENT v3.20.1
Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Detail)
$ in Thousands, ft² in Millions
3 Months Ended
Mar. 31, 2020
USD ($)
ft²
Property
Venture
Mar. 31, 2019
USD ($)
Dec. 31, 2019
USD ($)
ft²
Property
Venture
Schedule Of Equity Method Investments [Line Items]      
Our earnings from unconsolidated co-investment ventures, net $ 88,730 $ 56,666  
Unconsolidated Co-Investment Ventures [Member]      
Schedule Of Equity Method Investments [Line Items]      
Ventures | Venture 9   9
Number of buildings | Property 1,799   1,694
Square feet | ft² 398   378
Total assets $ 36,852,000   $ 34,550,000
Third-party debt 10,393,000   9,408,000
Total liabilities 12,661,000   11,641,000
Our investment balance [1] 5,910,000   $ 5,874,000
Total revenues 729,000 637,000  
Net earnings 161,000 171,000  
Our earnings from unconsolidated co-investment ventures, net $ 47,000 53,000  
Unconsolidated Co-Investment Ventures [Member] | U.S. [Member]      
Schedule Of Equity Method Investments [Line Items]      
Ventures | Venture 1 [2]   1
Number of buildings | Property 689 [2]   605
Square feet | ft² 112 [2]   99
Total assets $ 10,301,000 [2]   $ 8,408,000
Third-party debt 2,925,000 [2]   2,130,000
Total liabilities 3,371,000 [2]   2,514,000
Our investment balance [1] 1,720,000 [2]   $ 1,728,000
Total revenues 233,000 [2] 179,000  
Net earnings 34,000 [2] 29,000  
Our earnings from unconsolidated co-investment ventures, net $ 9,000 [2] 9,000  
Unconsolidated Co-Investment Ventures [Member] | Other Americas [Member]      
Schedule Of Equity Method Investments [Line Items]      
Ventures | Venture 2 [3]   2
Number of buildings | Property 214 [3]   214
Square feet | ft² 45 [3]   44
Total assets $ 2,871,000 [3]   $ 2,707,000
Third-party debt 770,000 [3]   769,000
Total liabilities 807,000 [3]   801,000
Our investment balance [1] 791,000 [3]   $ 658,000
Total revenues 68,000 [3] 67,000  
Net earnings 23,000 [3] 34,000  
Our earnings from unconsolidated co-investment ventures, net $ 9,000 [3] 13,000  
Unconsolidated Co-Investment Ventures [Member] | Europe [Member]      
Schedule Of Equity Method Investments [Line Items]      
Ventures | Venture 3   3
Number of buildings | Property 745   731
Square feet | ft² 178   176
Total assets $ 14,444,000   $ 14,677,000
Third-party debt 3,148,000   3,213,000
Total liabilities 4,491,000   4,575,000
Our investment balance [1] 2,678,000   $ 2,800,000
Total revenues 290,000 271,000  
Net earnings 78,000 71,000  
Our earnings from unconsolidated co-investment ventures, net $ 25,000 25,000  
Unconsolidated Co-Investment Ventures [Member] | Asia [Member]      
Schedule Of Equity Method Investments [Line Items]      
Ventures | Venture 3   3
Number of buildings | Property 151   144
Square feet | ft² 63   59
Total assets $ 9,236,000   $ 8,758,000
Third-party debt 3,550,000   3,296,000
Total liabilities 3,992,000   3,751,000
Our investment balance [1] 721,000   $ 688,000
Total revenues 138,000 120,000  
Net earnings 26,000 37,000  
Our earnings from unconsolidated co-investment ventures, net $ 4,000 $ 6,000  
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member]      
Schedule Of Equity Method Investments [Line Items]      
Our weighted average ownership [4] 25.80%   27.10%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | U.S. [Member]      
Schedule Of Equity Method Investments [Line Items]      
Our weighted average ownership [4] 24.80% [2]   27.30%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Other Americas [Member]      
Schedule Of Equity Method Investments [Line Items]      
Our weighted average ownership [4] 40.80% [3]   39.10%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Europe [Member]      
Schedule Of Equity Method Investments [Line Items]      
Our weighted average ownership [4] 30.00%   30.20%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Asia [Member]      
Schedule Of Equity Method Investments [Line Items]      
Our weighted average ownership [4] 15.20%   15.10%
[1] Prologis’ investment balance is presented at our adjusted basis derived from the ventures’ U.S. GAAP information. The difference between our ownership interest of a venture’s equity and our investment balance at March 31, 2020 and December 31, 2019, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018; (ii) recording additional costs associated with our investment in the venture; (iii) receivables, principally for fees and promotes ($94.7 million and $152.0 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to Nippon Prologis REIT, Inc.
[2] In January 2020, USLF acquired a portfolio of 108 operating properties, aggregating 18.3 million square feet, in the IPT Transaction for cash consideration of $2.0 billion, including transaction costs and the assumption and repayment of debt.
[3] PBLV and our other Brazilian joint ventures are combined as one venture for the purpose of this table.
[4] Represents our weighted average ownership interest in all unconsolidated co-investment ventures based on each entity’s contribution of total assets before depreciation, net of other liabilities.