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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenues:    
Rental $ 1,021,656 $ 878,807
Strategic capital 119,961 96,591
Development management and other 6,699 2,843
Total revenues 1,148,316 978,241
Expenses:    
Rental 277,884 227,618
Strategic capital 49,450 46,574
General and administrative 78,032 69,689
Depreciation and amortization 397,575 345,970
Other 3,444 14,574
Total expenses 806,385 704,425
Operating income before gains on real estate transactions, net 341,931 273,816
Gains on dispositions of development properties and land, net 173,643 162,750
Gains on other dispositions of investments in real estate, net 16,623 31,491
Operating income 532,197 468,057
Other income (expense):    
Earnings from unconsolidated entities, net 67,049 88,730
Interest expense (71,281) (75,642)
Interest and other income, net 4,746 370
Foreign currency and derivative gains, net 80,152 113,329
Losses on early extinguishment of debt, net (187,453) (42,767)
Total other income (expense) (106,787) 84,020
Total other income (expense) (106,787) 84,020
Earnings before income taxes 425,410 552,077
Total income tax expense 25,717 30,913
Consolidated net earnings 399,693 521,164
Less net earnings attributable to noncontrolling interests 32,346 30,111
Net earnings attributable to controlling interests 367,347 491,053
Less preferred stock/unit dividends/distributions 1,532 1,635
Net earnings attributable to common stockholders/unitholders $ 365,815 $ 489,418
Weighted average common shares/units outstanding - Basic 738,998 698,272
Weighted average common shares/units outstanding - Diluted 764,958 723,983
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 0.50 $ 0.70
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 0.49 $ 0.70
Prologis, L.P. [Member]    
Revenues:    
Rental $ 1,021,656 $ 878,807
Strategic capital 119,961 96,591
Development management and other 6,699 2,843
Total revenues 1,148,316 978,241
Expenses:    
Rental 277,884 227,618
Strategic capital 49,450 46,574
General and administrative 78,032 69,689
Depreciation and amortization 397,575 345,970
Other 3,444 14,574
Total expenses 806,385 704,425
Operating income before gains on real estate transactions, net 341,931 273,816
Gains on dispositions of development properties and land, net 173,643 162,750
Gains on other dispositions of investments in real estate, net 16,623 31,491
Operating income 532,197 468,057
Other income (expense):    
Earnings from unconsolidated entities, net 67,049 88,730
Interest expense (71,281) (75,642)
Interest and other income, net 4,746 370
Foreign currency and derivative gains, net 80,152 113,329
Losses on early extinguishment of debt, net (187,453) (42,767)
Total other income (expense) (106,787) 84,020
Total other income (expense) (106,787) 84,020
Earnings before income taxes 425,410 552,077
Total income tax expense 25,717 30,913
Consolidated net earnings 399,693 521,164
Less net earnings attributable to noncontrolling interests 22,078 16,141
Net earnings attributable to controlling interests 377,615 505,023
Less preferred stock/unit dividends/distributions 1,532 1,635
Net earnings attributable to common stockholders/unitholders $ 376,083 $ 503,388
Weighted average common shares/units outstanding - Basic 751,679 710,141
Weighted average common shares/units outstanding - Diluted [1] 764,958 723,983
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 0.50 $ 0.70
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 0.49 $ 0.70
[1] Our total weighted average potentially dilutive shares and units outstanding consisted of the following