v2.4.0.6
Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues:        
Rental income $ 387,089 $ 222,713 $ 757,954 $ 374,645
Rental recoveries 100,937 56,303 192,566 99,011
Private capital revenue 30,993 32,976 63,350 62,811
Development management and other income 1,729 8,920 4,842 13,239
Total revenues 520,748 320,912 1,018,712 549,706
Expenses:        
Rental expenses 132,031 77,199 256,474 137,397
Private capital expenses 15,075 11,596 31,956 22,148
General and administrative expenses 51,415 51,840 111,574 91,023
Merger, acquisition and other integration expenses 21,186 103,052 31,914 109,040
Impairement of real estate properties     3,185  
Depreciation and amortization 186,770 118,606 374,640 198,183
Other expenses 7,227 5,587 11,562 10,271
Total expenses 413,704 367,880 821,305 568,062
Operating income (loss) 107,044 (46,968) 197,407 (18,356)
Other income (expense):        
Earnings from unconsolidated entities, net 3,889 11,399 17,884 25,040
Interest expense (127,946) (112,916) (261,328) (203,443)
Impairment of other assets   (103,823) (16,135) (103,823)
Interest and other income, net 5,912 5,277 11,013 2,698
Gains on acquisitions and dispositions of investments in real estate, net 520 102,529 268,291 106,254
Foreign currency and derivative gains (losses), net 12,753 (10,255) (14,022) (8,881)
Gain (loss) on early extinguishment of debt, net (500)   4,919  
Total other income (expense) (105,372) (107,789) 10,622 (182,155)
Earnings (loss) before income taxes 1,672 (154,757) 208,029 (200,511)
Current income tax expense 17,995 6,311 29,068 11,816
Deferred income tax expense (benefit) (9,920) 118 (8,869) 982
Total income tax expense 8,075 6,429 20,199 12,798
Earnings (loss) from continuing operations (6,403) (161,186) 187,830 (213,309)
Discontinued operations:        
Income attributable to disposed properties and assets held for sale 1,197 9,384 8,813 19,383
Net gains on dispositions, net of related impairment charges and taxes 9,874 8,175 21,123 10,135
Total discontinued operations 11,071 17,559 29,936 29,518
Consolidated net earnings (loss) 4,668 (143,627) 217,766 (183,791)
Net earnings attributable to noncontrolling interests (2,739) (202) (2,857) (285)
Net earnings (loss) attributable to controlling interests 1,929 (143,829) 214,909 (184,076)
Less preferred share/unit dividends 10,049 7,642 20,616 14,011
Net earnings (loss) available for common unit/stockholders (8,120) (151,471) 194,293 (198,087)
Weighted average common shares/units outstanding - Basic 459,878 307,756 459,549 281,384
Weighted average common shares/units outstanding - Diluted 459,878 307,756 464,696 281,384
Net earnings (loss) per share available for common unit/stockholders - Basic:        
Continuing operations $ (0.04) $ (0.55) $ 0.36 $ (0.80)
Discontinued operations $ 0.02 $ 0.06 $ 0.06 $ 0.10
Net earnings (loss) per share available for common stockholders - Basic $ (0.02) $ (0.49) $ 0.42 $ (0.70)
Net earnings (loss) per share available for common stockholders - Diluted:        
Continuing operations $ (0.04) $ (0.55) $ 0.36 $ (0.80)
Discontinued operations $ 0.02 $ 0.06 $ 0.06 $ 0.10
Net earnings (loss) per share available for common stockholders - Diluted $ (0.02) $ (0.49) $ 0.42 $ (0.70)
Dividends per common share/units $ 0.28 $ 0.25 $ 0.56 $ 0.50
Prologis, L.P.
       
Revenues:        
Rental income 387,089 222,713 757,954 374,645
Rental recoveries 100,937 56,303 192,566 99,011
Private capital revenue 30,993 32,976 63,350 62,811
Development management and other income 1,729 8,920 4,842 13,239
Total revenues 520,748 320,912 1,018,712 549,706
Expenses:        
Rental expenses 132,031 77,199 256,474 137,397
Private capital expenses 15,075 11,596 31,956 22,148
General and administrative expenses 51,415 51,840 111,574 91,023
Merger, acquisition and other integration expenses 21,186 103,052 31,914 109,040
Impairement of real estate properties     3,185  
Depreciation and amortization 186,770 118,606 374,640 198,183
Other expenses 7,227 5,587 11,562 10,271
Total expenses 413,704 367,880 821,305 568,062
Operating income (loss) 107,044 (46,968) 197,407 (18,356)
Other income (expense):        
Earnings from unconsolidated entities, net 3,889 11,399 17,884 25,040
Interest expense (127,946) (112,916) (261,328) (203,443)
Impairment of other assets   (103,823) (16,135) (103,823)
Interest and other income, net 5,912 5,277 11,013 2,698
Gains on acquisitions and dispositions of investments in real estate, net 520 102,529 268,291 106,254
Foreign currency and derivative gains (losses), net 12,753 (10,255) (14,022) (8,881)
Gain (loss) on early extinguishment of debt, net (500)   4,919  
Total other income (expense) (105,372) (107,789) 10,622 (182,155)
Earnings (loss) before income taxes 1,672 (154,757) 208,029 (200,511)
Current income tax expense 17,995 6,311 29,068 11,816
Deferred income tax expense (benefit) (9,920) 118 (8,869) 982
Total income tax expense 8,075 6,429 20,199 12,798
Earnings (loss) from continuing operations (6,403) (161,186) 187,830 (213,309)
Discontinued operations:        
Income attributable to disposed properties and assets held for sale 1,197 9,384 8,813 19,383
Net gains on dispositions, net of related impairment charges and taxes 9,874 8,175 21,123 10,135
Total discontinued operations 11,071 17,559 29,936 29,518
Consolidated net earnings (loss) 4,668 (143,627) 217,766 (183,791)
Net earnings attributable to noncontrolling interests (2,792) (202) (1,969) (285)
Net earnings (loss) attributable to controlling interests 1,876 (143,829) 215,797 (184,076)
Less preferred share/unit dividends 10,049 7,642 20,616 14,011
Net earnings (loss) available for common unit/stockholders $ (8,173) $ (151,471) $ 195,181 $ (198,087)
Weighted average common shares/units outstanding - Basic 461,842 308,389 461,559 281,702
Weighted average common shares/units outstanding - Diluted 461,842 308,389 464,696 281,702
Net earnings (loss) per share available for common unit/stockholders - Basic:        
Continuing operations $ (0.04) $ (0.55) $ 0.36 $ (0.80)
Discontinued operations $ 0.02 $ 0.06 $ 0.06 $ 0.10
Net earnings (loss) per share available for common stockholders - Basic $ (0.02) $ (0.49) $ 0.42 $ (0.70)
Net earnings (loss) per share available for common stockholders - Diluted:        
Continuing operations $ (0.04) $ (0.55) $ 0.36 $ (0.80)
Discontinued operations $ 0.02 $ 0.06 $ 0.06 $ 0.10
Net earnings (loss) per share available for common stockholders - Diluted $ (0.02) $ (0.49) $ 0.42 $ (0.70)
Dividends per common share/units $ 0.28 $ 0.25 $ 0.56 $ 0.50