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Consolidated Statements of Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Rental $ 1,093,452 $ 1,014,763 $ 2,170,313 $ 2,036,419
Strategic capital 156,239 129,387 290,164 249,348
Development management and other 2,389 6,692 10,731 13,391
Total revenues 1,252,080 1,150,842 2,471,208 2,299,158
Expenses:        
Rental 270,465 245,133 546,139 523,017
Strategic capital 57,052 45,099 108,863 94,549
General and administrative 83,114 74,342 157,760 152,374
Depreciation and amortization 402,313 392,736 798,960 790,311
Other 11,621 7,194 21,210 10,638
Total expenses 824,565 764,504 1,632,932 1,570,889
Operating income before gains on real estate transactions, net 427,515 386,338 838,276 728,269
Gains on dispositions of development properties and land, net 105,802 187,361 316,008 361,004
Gains on other dispositions of investments in real estate, net 0 127,167 584,835 143,790
Operating income 533,317 700,866 1,739,119 1,233,063
Other income (expense):        
Earnings from unconsolidated entities, net 79,594 72,419 156,556 139,468
Interest expense (60,293) (68,412) (124,357) (139,693)
Interest and other income, net 6,227 715 7,280 5,461
Foreign currency and derivative gains (losses), net 138,155 (6,080) 185,511 74,072
Losses on early extinguishment of debt, net (730) 0 (18,895) (187,453)
Total other income (expense) 162,953 (1,358) 206,095 (108,145)
Earnings before income taxes 696,270 699,508 1,945,214 1,124,918
Income tax expense (49,834) (49,195) (79,056) (74,912)
Consolidated net earnings 646,436 650,313 1,866,158 1,050,006
Less net earnings attributable to noncontrolling interests 35,043 50,137 103,980 82,483
Net earnings attributable to controlling interests 611,393 600,176 1,762,178 967,523
Less preferred stock/unit dividends/distributions 1,538 1,551 3,069 3,083
Net earnings attributable to common stockholders/unitholders $ 609,855 $ 598,625 $ 1,759,109 $ 964,440
Weighted average common shares/units outstanding - Basic 740,637 739,190 740,506 739,105
Weighted average common shares/units outstanding - Diluted [1] 766,074 764,652 765,859 764,724
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 0.82 $ 0.81 $ 2.38 $ 1.30
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 0.82 $ 0.81 $ 2.36 $ 1.30
Prologis, L.P. [Member]        
Revenues:        
Rental $ 1,093,452 $ 1,014,763 $ 2,170,313 $ 2,036,419
Strategic capital 156,239 129,387 290,164 249,348
Development management and other 2,389 6,692 10,731 13,391
Total revenues 1,252,080 1,150,842 2,471,208 2,299,158
Expenses:        
Rental 270,465 245,133 546,139 523,017
Strategic capital 57,052 45,099 108,863 94,549
General and administrative 83,114 74,342 157,760 152,374
Depreciation and amortization 402,313 392,736 798,960 790,311
Other 11,621 7,194 21,210 10,638
Total expenses 824,565 764,504 1,632,932 1,570,889
Operating income before gains on real estate transactions, net 427,515 386,338 838,276 728,269
Gains on dispositions of development properties and land, net 105,802 187,361 316,008 361,004
Gains on other dispositions of investments in real estate, net 0 127,167 584,835 143,790
Operating income 533,317 700,866 1,739,119 1,233,063
Other income (expense):        
Earnings from unconsolidated entities, net 79,594 72,419 156,556 139,468
Interest expense (60,293) (68,412) (124,357) (139,693)
Interest and other income, net 6,227 715 7,280 5,461
Foreign currency and derivative gains (losses), net 138,155 (6,080) 185,511 74,072
Losses on early extinguishment of debt, net (730) 0 (18,895) (187,453)
Total other income (expense) 162,953 (1,358) 206,095 (108,145)
Earnings before income taxes 696,270 699,508 1,945,214 1,124,918
Income tax expense (49,834) (49,195) (79,056) (74,912)
Consolidated net earnings 646,436 650,313 1,866,158 1,050,006
Less net earnings attributable to noncontrolling interests 17,612 33,284 54,278 55,362
Net earnings attributable to controlling interests 628,824 617,029 1,811,880 994,644
Less preferred stock/unit dividends/distributions 1,538 1,551 3,069 3,083
Net earnings attributable to common stockholders/unitholders $ 627,286 $ 615,478 $ 1,808,811 $ 991,561
Weighted average common shares/units outstanding - Basic 753,610 752,065 753,420 751,883
Weighted average common shares/units outstanding - Diluted 766,074 764,652 765,859 764,724
Net earnings per share/unit attributable to common stockholders/unitholders - Basic $ 0.82 $ 0.81 $ 2.38 $ 1.30
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted $ 0.82 $ 0.81 $ 2.36 $ 1.30
[1] Our total weighted average potentially dilutive shares and units outstanding consisted of the following: