| Selected Quarterly Financial Data |
The following table details our selected quarterly financial data (in thousands, except per share and unit data):
|
|
|
Three Months Ended, |
|
|
Prologis, Inc. |
|
March 31, |
|
|
June 30, |
|
|
September 30, |
|
|
December 31, |
|
|
2017: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rental revenues |
|
$ |
439,884 |
|
|
$ |
447,960 |
|
|
$ |
416,427 |
|
|
$ |
433,568 |
|
|
Rental recoveries |
|
$ |
127,049 |
|
|
$ |
128,417 |
|
|
$ |
114,755 |
|
|
$ |
117,081 |
|
|
Total revenues |
|
$ |
629,155 |
|
|
$ |
766,183 |
|
|
$ |
602,874 |
|
|
$ |
619,922 |
|
|
Rental expenses |
|
$ |
(152,656 |
) |
|
$ |
(147,794 |
) |
|
$ |
(128,735 |
) |
|
$ |
(140,338 |
) |
|
Operating income |
|
$ |
161,886 |
|
|
$ |
275,272 |
|
|
$ |
175,491 |
|
|
$ |
158,417 |
|
|
Consolidated net earnings |
|
$ |
220,689 |
|
|
$ |
287,980 |
|
|
$ |
913,417 |
|
|
$ |
338,873 |
|
|
Net earnings attributable to common stockholders |
|
$ |
203,255 |
|
|
$ |
266,943 |
|
|
$ |
876,218 |
|
|
$ |
295,515 |
|
|
Net earnings per share attributable to common
stockholders – Basic (1) |
|
$ |
0.38 |
|
|
$ |
0.50 |
|
|
$ |
1.65 |
|
|
$ |
0.56 |
|
|
Net earnings per share attributable to common
stockholders – Diluted (1) (2) |
|
$ |
0.38 |
|
|
$ |
0.50 |
|
|
$ |
1.63 |
|
|
$ |
0.55 |
|
|
2016: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rental revenues |
|
$ |
437,104 |
|
|
$ |
426,150 |
|
|
$ |
435,868 |
|
|
$ |
435,722 |
|
|
Rental recoveries |
|
$ |
117,012 |
|
|
$ |
119,981 |
|
|
$ |
124,409 |
|
|
$ |
124,163 |
|
|
Total revenues |
|
$ |
606,300 |
|
|
$ |
602,155 |
|
|
$ |
704,565 |
|
|
$ |
620,115 |
|
|
Rental expenses |
|
$ |
(146,581 |
) |
|
$ |
(140,725 |
) |
|
$ |
(140,514 |
) |
|
$ |
(141,050 |
) |
|
Operating income |
|
$ |
129,198 |
|
|
$ |
142,348 |
|
|
$ |
232,624 |
|
|
$ |
164,208 |
|
|
Consolidated net earnings |
|
$ |
222,805 |
|
|
$ |
295,791 |
|
|
$ |
307,242 |
|
|
$ |
466,702 |
|
|
Net earnings attributable to common stockholders |
|
$ |
208,041 |
|
|
$ |
275,383 |
|
|
$ |
279,255 |
|
|
$ |
440,539 |
|
|
Net earnings per share attributable to common
stockholders – Basic (1) |
|
$ |
0.40 |
|
|
$ |
0.52 |
|
|
$ |
0.53 |
|
|
$ |
0.83 |
|
|
Net earnings per share attributable to common
stockholders – Diluted (1) (2) |
|
$ |
0.39 |
|
|
$ |
0.52 |
|
|
$ |
0.52 |
|
|
$ |
0.82 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Prologis, L.P. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rental revenues |
|
$ |
439,884 |
|
|
$ |
447,960 |
|
|
$ |
416,427 |
|
|
$ |
433,568 |
|
|
Rental recoveries |
|
$ |
127,049 |
|
|
$ |
128,417 |
|
|
$ |
114,755 |
|
|
$ |
117,081 |
|
|
Total revenues |
|
$ |
629,155 |
|
|
$ |
766,183 |
|
|
$ |
602,874 |
|
|
$ |
619,922 |
|
|
Rental expenses |
|
$ |
(152,656 |
) |
|
$ |
(147,794 |
) |
|
$ |
(128,735 |
) |
|
$ |
(140,338 |
) |
|
Operating income |
|
$ |
161,886 |
|
|
$ |
275,272 |
|
|
$ |
175,491 |
|
|
$ |
158,417 |
|
|
Consolidated net earnings |
|
$ |
220,689 |
|
|
$ |
287,980 |
|
|
$ |
913,417 |
|
|
$ |
338,873 |
|
|
Net earnings attributable to common unitholders |
|
$ |
208,878 |
|
|
$ |
274,320 |
|
|
$ |
900,331 |
|
|
$ |
303,416 |
|
|
Net earnings per unit attributable to common unitholders –
Basic (1) |
|
$ |
0.38 |
|
|
$ |
0.50 |
|
|
$ |
1.65 |
|
|
$ |
0.56 |
|
|
Net earnings per unit attributable to common unitholders –
Diluted (1) (2) |
|
$ |
0.38 |
|
|
$ |
0.50 |
|
|
$ |
1.63 |
|
|
$ |
0.55 |
|
|
2016: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rental revenues |
|
$ |
437,104 |
|
|
$ |
426,150 |
|
|
$ |
435,868 |
|
|
$ |
435,722 |
|
|
Rental recoveries |
|
$ |
117,012 |
|
|
$ |
119,981 |
|
|
$ |
124,409 |
|
|
$ |
124,163 |
|
|
Total revenues |
|
$ |
606,300 |
|
|
$ |
602,155 |
|
|
$ |
704,565 |
|
|
$ |
620,115 |
|
|
Rental expenses |
|
$ |
(146,581 |
) |
|
$ |
(140,725 |
) |
|
$ |
(140,514 |
) |
|
$ |
(141,050 |
) |
|
Operating income |
|
$ |
129,198 |
|
|
$ |
142,348 |
|
|
$ |
232,624 |
|
|
$ |
164,208 |
|
|
Consolidated net earnings |
|
$ |
222,805 |
|
|
$ |
295,791 |
|
|
$ |
307,242 |
|
|
$ |
466,702 |
|
|
Net earnings attributable to common unitholders |
|
$ |
214,275 |
|
|
$ |
283,699 |
|
|
$ |
286,943 |
|
|
$ |
452,602 |
|
|
Net earnings per unit attributable to common unitholders –
Basic (1) |
|
$ |
0.40 |
|
|
$ |
0.52 |
|
|
$ |
0.53 |
|
|
$ |
0.83 |
|
|
Net earnings per unit attributable to common unitholders –
Diluted (1) (2) |
|
$ |
0.39 |
|
|
$ |
0.52 |
|
|
$ |
0.52 |
|
|
$ |
0.82 |
|
|
(1) |
Quarterly earnings per common share or unit amounts may not total to the annual amounts due to rounding and the changes in the number of weighted average common shares or units outstanding included in the calculation of basic and diluted shares or units. |
|
(2) |
Income allocated to the exchangeable OP units not held by the Parent has been included in the numerator and exchangeable OP units have been included in the denominator for the purpose of computing diluted earnings per share for all periods since the per share and unit is the same. |
|