Unconsolidated Entities (Tables)

9 Months Ended

Sep. 30, 2022

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 unconsolidated entities (in thousands):

	September 30,		December 31,
	2022		2021
Unconsolidated co-investment ventures	$	7,864,132	$	7,825,455
Other ventures		794,997		785,503
Total	$	8,659,129	$	8,610,958

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 on a U.S. GAAP basis (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⁽¹⁾						Europe						Asia						Total
At:	Sep 30, 2022			Dec 31, 2021			Sep 30, 2022			Dec 31, 2021			Sep 30, 2022 ⁽²⁾			Dec 31, 2021			Sep 30, 2022			Dec 31, 2021			Sep 30, 2022			Dec 31, 2021
Key property information:
Ventures		1			1			2			2			2			2			3			3			8			8
Operating properties		738			732			261			254			988			818			208			203			2,195			2,007
Square feet		123			122			58			56			219			198			84			82			484			458

Financial position:
Total assets ($)		12,407			11,619			3,521			3,349			21,154			18,373			8,980			10,746			46,062			44,087
Third-party debt ($)		3,468			3,069			1,150			1,052			4,740			3,737			3,505			4,157			12,863			12,015
Total liabilities ($)		4,141			3,717			1,237			1,116			6,766			5,619			3,910			4,685			16,054			15,137

Our investment balance ($) ⁽³⁾		2,385			2,393			859			840			3,929			3,712			691			880			7,864			7,825
Our weighted average ownership ⁽⁴⁾		26.5	%		27.0	%		40.4	%		40.8	%		30.5	%		30.9	%		15.2	%		15.1	%		27.2	%		26.9	%

	U.S.						Other Americas ⁽¹⁾						Europe						Asia						Total
Operating Information:	Sep 30, 2022			Sep 30, 2021			Sep 30, 2022			Sep 30, 2021			Sep 30, 2022			Sep 30, 2021			Sep 30, 2022			Sep 30, 2021			Sep 30, 2022			Sep 30, 2021
For the three months ended:
Total revenues ($)		297			260			97			81			342			348			152			164			888			853
Net earnings ($)		73			152			35			28			113			84			34			49			255			313

Our earnings from unconsolidated co-investment ventures, net ($)		20			40			12			9			41			27			5			8			78			84

For the nine months ended:
Total revenues ($)		874			771			282			234			1,052			1,029			478			483			2,686			2,517
Net earnings ($)		213			255			99			86			344			253			100			120			756			714

Our earnings from unconsolidated co-investment ventures, net ($)		58			68			34			31			111			81			16			20			219			200

(1)	Prologis Brazil Logistics Venture (“PBLV”) and our other Brazilian joint ventures are combined as one venture for the purpose of this table.

(2)	In September 2022, PELF acquired a real estate portfolio that primarily included 125 industrial operating properties.

(3)

Prologis’ investment balance is presented at our adjusted basis. The difference between our ownership interest of a venture’s equity and our investment balance at September 30, 2022 and December 31, 2021, 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 ($642.6 million and $149.5 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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Recurring fees	$	115,902	$	100,167	$	344,945	$	288,049
Transactional fees		19,805		14,399		54,553		53,476
Promote revenue ⁽¹⁾		456,038		1,570		475,552		13,821
Total strategic capital revenues from unconsolidated co-investment ventures ⁽²⁾	$	591,745	$	116,136	$	875,050	$	355,346

(1)	Includes promote revenue earned from Prologis European Logistics Fund (“PELF”) in September 2022.

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