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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Rental $ 980,148 $ 710,465 $ 2,803,321 $ 2,107,961
Strategic capital 98,993 230,467 516,242 393,416
Development management and other 3,632 1,249 7,575 3,228
Total revenues 1,082,773 942,181 3,327,138 2,504,605
Expenses:        
Rental 245,490 180,864 705,217 550,070
Strategic capital 45,791 63,404 173,910 138,668
General and administrative 74,348 65,199 208,701 201,176
Depreciation and amortization 400,738 282,254 1,144,903 850,639
Other 3,020 2,294 25,573 9,643
Total expenses 769,387 594,015 2,258,304 1,750,196
Operating income before gains on real estate transactions, net 313,386 348,166 1,068,834 754,409
Gains on dispositions of development properties and land, net 134,207 63,935 383,373 303,317
Gains on other dispositions of investments in real estate, net 108,927 59,379 184,357 232,400
Operating income 556,520 471,480 1,636,564 1,290,126
Other income (expense):        
Earnings from unconsolidated entities, net 73,972 46,302 216,844 151,524
Interest expense (80,711) (60,244) (237,651) (179,873)
Interest and other income (expense), net (5,866) 654 (4,469) 12,876
Foreign currency and derivative gains (losses), net (100,974) 59,492 (48,481) 70,267
Losses on early extinguishment of debt, net (98,266) (13,585) (164,606) (16,086)
Total other income (expense) (211,845) 32,619 (238,363) 38,708
Earnings before income taxes 344,675 504,099 1,398,201 1,328,834
Total income tax expense 12,154 13,086 89,578 53,230
Consolidated net earnings 332,521 491,013 1,308,623 1,275,604
Less net earnings attributable to noncontrolling interests 29,827 38,867 108,703 89,636
Net earnings attributable to controlling interests 302,694 452,146 1,199,920 1,185,968
Less preferred stock/unit dividends/distributions 1,652 1,507 4,921 4,498
Loss on preferred stock repurchase 2,347 0 2,347 0
Net earnings attributable to common stockholders/unitholders $ 298,695 $ 450,639 $ 1,192,652 $ 1,181,470
Weighted average common shares/units outstanding - Basic 738,194 630,929 724,876 630,356
Weighted average common shares/units outstanding - Diluted 764,619 655,259 750,971 654,818
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 0.40 $ 0.71 $ 1.65 $ 1.87
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 0.40 $ 0.71 $ 1.63 $ 1.86
Prologis, L.P. [Member]        
Revenues:        
Rental $ 980,148 $ 710,465 $ 2,803,321 $ 2,107,961
Strategic capital 98,993 230,467 516,242 393,416
Development management and other 3,632 1,249 7,575 3,228
Total revenues 1,082,773 942,181 3,327,138 2,504,605
Expenses:        
Rental 245,490 180,864 705,217 550,070
Strategic capital 45,791 63,404 173,910 138,668
General and administrative 74,348 65,199 208,701 201,176
Depreciation and amortization 400,738 282,254 1,144,903 850,639
Other 3,020 2,294 25,573 9,643
Total expenses 769,387 594,015 2,258,304 1,750,196
Operating income before gains on real estate transactions, net 313,386 348,166 1,068,834 754,409
Gains on dispositions of development properties and land, net 134,207 63,935 383,373 303,317
Gains on other dispositions of investments in real estate, net 108,927 59,379 184,357 232,400
Operating income 556,520 471,480 1,636,564 1,290,126
Other income (expense):        
Earnings from unconsolidated entities, net 73,972 46,302 216,844 151,524
Interest expense (80,711) (60,244) (237,651) (179,873)
Interest and other income (expense), net (5,866) 654 (4,469) 12,876
Foreign currency and derivative gains (losses), net (100,974) 59,492 (48,481) 70,267
Losses on early extinguishment of debt, net (98,266) (13,585) (164,606) (16,086)
Total other income (expense) (211,845) 32,619 (238,363) 38,708
Earnings before income taxes 344,675 504,099 1,398,201 1,328,834
Total income tax expense 12,154 13,086 89,578 53,230
Consolidated net earnings 332,521 491,013 1,308,623 1,275,604
Less net earnings attributable to noncontrolling interests 21,453 25,509 74,709 54,018
Net earnings attributable to controlling interests 311,068 465,504 1,233,914 1,221,586
Less preferred stock/unit dividends/distributions 1,652 1,507 4,921 4,498
Loss on preferred stock repurchase 2,347 0 2,347 0
Net earnings attributable to common stockholders/unitholders $ 307,069 $ 463,997 $ 1,226,646 $ 1,217,088
Weighted average common shares/units outstanding - Basic 750,971 641,229 737,489 641,077
Weighted average common shares/units outstanding - Diluted 764,619 655,259 750,971 654,818
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 0.40 $ 0.71 $ 1.65 $ 1.87
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 0.40 $ 0.71 $ 1.63 $ 1.86