Earnings Per Common Share or Unit (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share Unit

The computation of our basic and diluted earnings per share and unit was as follows (in thousands, except per share and unit amounts):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
Prologis, Inc.	2022		2021		2022		2021
Net earnings attributable to common stockholders – Basic	$	1,013,933	$	722,007	$	2,773,042	$	1,686,447
Net earnings attributable to exchangeable limited partnership units (1)		28,792		19,890		78,648		47,131
Adjusted net earnings attributable to common stockholders – Diluted	$	1,042,725	$	741,897	$	2,851,690	$	1,733,578
Weighted average common shares outstanding – Basic		740,719		739,439		740,585		739,217
Incremental weighted average effect on exchange of limited partnership units (1)		21,230		20,421		21,246		20,860
Incremental weighted average effect of equity awards		4,423		5,085		4,188		4,567
Weighted average common shares outstanding – Diluted (2)		766,372		764,945		766,019		764,644
Net earnings per share attributable to common stockholders:
Basic	$	1.37	$	0.98	$	3.74	$	2.28
Diluted	$	1.36	$	0.97	$	3.72	$	2.27

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
Prologis, L.P.	2022			2021			2022			2021
Net earnings attributable to common unitholders	$	1,042,664		$	741,794		$	2,851,475		$	1,733,355
Net earnings attributable to Class A Units		(10,995	)		(7,816	)		(30,018	)		(18,263	)
Net earnings attributable to common unitholders – Basic		1,031,669			733,978			2,821,457			1,715,092
Net earnings attributable to Class A Units		10,995			7,816			30,018			18,263
Net earnings attributable to exchangeable other limited partnership units		61			103			215			223
Adjusted net earnings attributable to common unitholders – Diluted	$	1,042,725		$	741,897		$	2,851,690		$	1,733,578
Weighted average common partnership units outstanding – Basic		753,616			751,558			753,515			751,773
Incremental weighted average effect on exchange of Class A Units		8,034			8,003			8,017			8,005
Incremental weighted average effect on exchange of other limited      partnership units		299			299			299			299
Incremental weighted average effect of equity awards of Prologis, Inc.		4,423			5,085			4,188			4,567
Weighted average common units outstanding – Diluted (2)		766,372			764,945			766,019			764,644
Net earnings per unit attributable to common unitholders:
Basic	$	1.37		$	0.98		$	3.74		$	2.28
Diluted	$	1.36		$	0.97		$	3.72		$	2.27

(1) Earnings allocated to the exchangeable OP units not held by the Parent have been included in the numerator and exchangeable common units have been included in the denominator for the purpose of computing diluted earnings per share for all periods as the per share and unit amount is the same.

(2) Our total weighted average potentially dilutive shares and units outstanding consisted of the following:  

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Class A Units		8,034		8,003		8,017		8,005
Other limited partnership units		299		299		299		299
Equity awards		6,557		6,965		6,309		6,863
Prologis, L.P.		14,890		15,267		14,625		15,167
Common limited partnership units		12,897		12,119		12,930		12,556
Prologis, Inc.		27,787		27,386		27,555		27,723