Unconsolidated Entities (Tables)

6 Months Ended

Jun. 30, 2020

Schedule Of Equity Method Investments [Line Items]

Summary of Investments in and Advances to our Unconsolidated Entities

The following table summarizes our investments in and advances to our unconsolidated entities (in thousands):

	June 30,		December 31,
	2020		2019
Unconsolidated co-investment ventures	$	6,211,203	$	5,873,784
Other ventures ⁽¹⁾		989,803		363,587
Total	$	7,201,006	$	6,237,371

(1)	In February 2020, we completed the Liberty Transaction and acquired an equity method investment in eight ventures.

Unconsolidated Co-Investment Ventures [Member]

Schedule Of Equity Method Investments [Line Items]

Summary of Investments in and Advances to our Unconsolidated Entities

The following table summarizes the key property information, financial position and operating information of our unconsolidated co-investment ventures (not our proportionate share) and the amounts we recognized in the Consolidated Financial Statements related to these ventures (dollars and square feet in millions):

	U.S.						Other Americas						Europe						Asia						Total
As of:	Jun 30, 2020 ⁽¹⁾			Dec 31, 2019			Jun 30, 2020 ⁽²⁾			Dec 31, 2019			Jun 30, 2020			Dec 31, 2019			Jun 30, 2020			Dec 31, 2019			Jun 30, 2020			Dec 31, 2019
Key property information:
Ventures		1			1			2			2			3			3			3			3			9			9
Operating properties		689			605			225			214			745			731			158			144			1,817			1,694
Square feet		113			99			49			44			178			176			65			59			405			378

Financial position:
Total assets ($)		10,276			8,408			2,938			2,707			14,872			14,677			9,420			8,758			37,506			34,550
Third-party debt ($)		2,923			2,130			841			769			3,443			3,213			3,617			3,296			10,824			9,408
Total liabilities ($)		3,857			2,514			877			801			4,787			4,575			4,080			3,751			13,601			11,641

Our investment balance ($) ⁽³⁾		1,932			1,728			795			658			2,728			2,800			756			688			6,211			5,874
Our weighted average ownership ⁽⁴⁾		24.9	%		27.3	%		41.2	%		39.1	%		29.9	%		30.2	%		15.2	%		15.1	%		25.9	%		27.1	%

	U.S.						Other Americas						Europe						Asia						Total
Operating Information:	Jun 30, 2020 ⁽¹⁾			Jun 30, 2019			Jun 30, 2020 ⁽²⁾			Jun 30, 2019			Jun 30, 2020			Jun 30, 2019			Jun 30, 2020			Jun 30, 2019			Jun 30, 2020			Jun 30, 2019
For the three months ended:
Total revenues ($)		232			180			66			67			281			268			143			124			722			639
Net earnings ($)		40			23			23			21			72			84			32			25			167			153

Our earnings from unconsolidated co-investment ventures, net ($)		10			7			9			8			23			27			5			4			47			46

For the six months ended:
Total revenues ($)		465			359			134			134			571			539			281			244			1,451			1,276
Net earnings ($)		74			52			46			55			150			155			58			62			328			324

Our earnings from unconsolidated co-investment ventures, net ($)		19			16			18			21			48			52			9			10			94			99

(1)	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.

(2)	PBLV and our other Brazilian joint ventures are combined as one venture for the purpose of this table.

(3)

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 June 30, 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 ($339.6 million and $152.0 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to Nippon Prologis REIT, Inc.

(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.

Summary of Strategic Capital Revenues Recognized in Consolidated Statements of Income Related to Co-Investment Ventures

The following table summarizes the Strategic Capital Revenues we recognized in the Consolidated Statements of Income related to our unconsolidated co-investment ventures (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Recurring fees	$	76,173	$	65,537	$	150,860	$	127,654
Transactional fees		12,092		15,830		32,052		27,178
Promote revenue ⁽¹⁾		227,830		7,283		228,421		7,283
Total strategic capital revenues from unconsolidated co-investment ventures ⁽²⁾	$	316,095	$	88,650	$	411,333	$	162,115

(1)	Includes promote revenue earned from our unconsolidated co-investment venture in the U.S. in June 2020.

(2)	These amounts exclude strategic capital revenues from other ventures.