Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
12 Months Ended |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
| Operating activities: |
|
|
|
| Consolidated net earnings |
$ 1,760,959
|
$ 1,292,540
|
$ 925,515
|
| Adjustments to reconcile net earnings to net cash provided by operating activities: |
|
|
|
| Straight-lined rents and amortization of above and below market leases |
(81,021)
|
(93,608)
|
(59,619)
|
| Equity-based compensation awards |
76,640
|
60,341
|
53,665
|
| Depreciation and amortization |
879,140
|
930,985
|
880,373
|
| Earnings from unconsolidated entities, net |
(248,567)
|
(206,307)
|
(159,262)
|
| Distributions from unconsolidated entities |
307,220
|
286,651
|
284,664
|
| Decrease (increase) in operating receivables from unconsolidated entities |
(30,893)
|
14,823
|
(38,185)
|
| Amortization of debt discounts (premiums), net of debt issuance costs |
751
|
(15,137)
|
(31,841)
|
| Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net |
(1,182,965)
|
(757,398)
|
(758,887)
|
| Unrealized foreign currency and derivative losses (gains), net |
68,956
|
(8,052)
|
(1,019)
|
| Losses (gains) on early extinguishment of debt, net |
68,379
|
(2,484)
|
86,303
|
| Deferred income tax benefit |
(5,005)
|
(5,525)
|
(5,057)
|
| Decrease (increase) in accounts receivable and other assets |
37,278
|
(106,337)
|
(64,749)
|
| Increase in accounts payable and accrued expenses and other liabilities |
36,374
|
26,513
|
4,426
|
| Net cash provided by operating activities |
1,687,246
|
1,417,005
|
1,116,327
|
| Investing activities: |
|
|
|
| Real estate development |
(1,606,133)
|
(1,641,560)
|
(1,339,904)
|
| Real estate acquisitions |
(442,696)
|
(458,516)
|
(890,183)
|
| Tenant improvements and lease commissions on previously leased space |
(153,255)
|
(165,933)
|
(154,564)
|
| Nondevelopment capital expenditures |
(110,635)
|
(101,677)
|
(83,351)
|
| Proceeds from dispositions and contributions of real estate properties |
3,236,603
|
2,826,408
|
2,795,249
|
| Investments in and advances to unconsolidated entities |
(249,735)
|
(265,951)
|
(474,420)
|
| Acquisition of a controlling interest in an unconsolidated venture, net of cash received |
(374,605)
|
0
|
0
|
| Return of investment from unconsolidated entities |
209,151
|
776,550
|
29,406
|
| Proceeds from repayment of notes receivable backed by real estate |
32,100
|
202,950
|
9,866
|
| Proceeds from the settlement of net investment hedges |
7,541
|
79,767
|
129,149
|
| Payments on the settlement of net investment hedges |
(5,058)
|
0
|
(981)
|
| Net cash provided by (used in) investing activities |
543,278
|
1,252,038
|
(4,789,232)
|
| Financing activities: |
|
|
|
| Proceeds from issuance of common stock |
32,858
|
39,470
|
90,258
|
| Dividends paid on common and preferred stock |
(942,884)
|
(893,455)
|
(804,697)
|
| Repurchase of preferred stock |
(13,182)
|
0
|
0
|
| Noncontrolling interests contributions |
240,925
|
2,168
|
2,355,367
|
| Noncontrolling interests distributions |
(207,788)
|
(343,550)
|
(215,740)
|
| Purchase of noncontrolling interests |
(813,847)
|
(3,083)
|
(2,560)
|
| Tax paid for shares withheld |
(19,775)
|
(8,570)
|
(12,298)
|
| Debt and equity issuance costs paid |
(7,054)
|
(20,123)
|
(32,012)
|
| Net proceeds from (payments on) credit facilities |
283,255
|
33,435
|
(7,970)
|
| Repurchase and payments of debt |
(3,578,889)
|
(2,301,647)
|
(3,156,294)
|
| Proceeds from issuance of debt |
2,419,797
|
1,369,890
|
5,381,862
|
| Net cash provided by (used in) financing activities |
(2,606,584)
|
(2,125,465)
|
3,595,916
|
| Effect of foreign currency exchange rate changes on cash |
15,790
|
(342)
|
(9,623)
|
| Net increase (decrease) in cash and cash equivalents |
(360,270)
|
543,236
|
(86,612)
|
| Cash and cash equivalents, beginning of year |
807,316
|
264,080
|
350,692
|
| Cash and cash equivalents, end of year |
447,046
|
807,316
|
264,080
|
| Prologis, L.P. [Member] |
|
|
|
| Operating activities: |
|
|
|
| Consolidated net earnings |
1,760,959
|
1,292,540
|
925,515
|
| Adjustments to reconcile net earnings to net cash provided by operating activities: |
|
|
|
| Straight-lined rents and amortization of above and below market leases |
(81,021)
|
(93,608)
|
(59,619)
|
| Equity-based compensation awards |
76,640
|
60,341
|
53,665
|
| Depreciation and amortization |
879,140
|
930,985
|
880,373
|
| Earnings from unconsolidated entities, net |
(248,567)
|
(206,307)
|
(159,262)
|
| Distributions from unconsolidated entities |
307,220
|
286,651
|
284,664
|
| Decrease (increase) in operating receivables from unconsolidated entities |
(30,893)
|
14,823
|
(38,185)
|
| Amortization of debt discounts (premiums), net of debt issuance costs |
751
|
(15,137)
|
(31,841)
|
| Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net |
(1,182,965)
|
(757,398)
|
(758,887)
|
| Unrealized foreign currency and derivative losses (gains), net |
68,956
|
(8,052)
|
(1,019)
|
| Losses (gains) on early extinguishment of debt, net |
68,379
|
(2,484)
|
86,303
|
| Deferred income tax benefit |
(5,005)
|
(5,525)
|
(5,057)
|
| Decrease (increase) in accounts receivable and other assets |
37,278
|
(106,337)
|
(64,749)
|
| Increase in accounts payable and accrued expenses and other liabilities |
36,374
|
26,513
|
4,426
|
| Net cash provided by operating activities |
1,687,246
|
1,417,005
|
1,116,327
|
| Investing activities: |
|
|
|
| Real estate development |
(1,606,133)
|
(1,641,560)
|
(1,339,904)
|
| Real estate acquisitions |
(442,696)
|
(458,516)
|
(890,183)
|
| Tenant improvements and lease commissions on previously leased space |
(153,255)
|
(165,933)
|
(154,564)
|
| Nondevelopment capital expenditures |
(110,635)
|
(101,677)
|
(83,351)
|
| Proceeds from dispositions and contributions of real estate properties |
3,236,603
|
2,826,408
|
2,795,249
|
| Investments in and advances to unconsolidated entities |
(249,735)
|
(265,951)
|
(474,420)
|
| Acquisition of a controlling interest in an unconsolidated venture, net of cash received |
(374,605)
|
0
|
0
|
| Return of investment from unconsolidated entities |
209,151
|
776,550
|
29,406
|
| Proceeds from repayment of notes receivable backed by real estate |
32,100
|
202,950
|
9,866
|
| Proceeds from the settlement of net investment hedges |
7,541
|
79,767
|
129,149
|
| Payments on the settlement of net investment hedges |
(5,058)
|
0
|
(981)
|
| Net cash provided by (used in) investing activities |
543,278
|
1,252,038
|
(4,789,232)
|
| Financing activities: |
|
|
|
| Proceeds from issuance of common stock |
32,858
|
39,470
|
90,258
|
| Dividends paid on common and preferred stock |
(980,105)
|
(931,559)
|
(820,989)
|
| Repurchase of preferred stock |
(13,182)
|
0
|
0
|
| Noncontrolling interests contributions |
240,925
|
2,168
|
2,355,367
|
| Noncontrolling interests distributions |
(170,567)
|
(306,297)
|
(199,845)
|
| Purchase of noncontrolling interests |
(790,016)
|
(2,232)
|
(2,163)
|
| Redemption of common limited partnership units |
(23,831)
|
0
|
0
|
| Tax paid for shares withheld |
(19,775)
|
(8,570)
|
(12,298)
|
| Debt and equity issuance costs paid |
(7,054)
|
(20,123)
|
(32,012)
|
| Net proceeds from (payments on) credit facilities |
283,255
|
33,435
|
(7,970)
|
| Repurchase and payments of debt |
(3,578,889)
|
(2,301,647)
|
(3,156,294)
|
| Proceeds from issuance of debt |
2,419,797
|
1,369,890
|
5,381,862
|
| Net cash provided by (used in) financing activities |
(2,606,584)
|
(2,125,465)
|
3,595,916
|
| Effect of foreign currency exchange rate changes on cash |
15,790
|
(342)
|
(9,623)
|
| Net increase (decrease) in cash and cash equivalents |
(360,270)
|
543,236
|
(86,612)
|
| Cash and cash equivalents, beginning of year |
807,316
|
264,080
|
350,692
|
| Cash and cash equivalents, end of year |
447,046
|
807,316
|
264,080
|
| KTR Capital Partners and Affiliates [Member] |
|
|
|
| Investing activities: |
|
|
|
| KTR transaction, net of cash received |
0
|
0
|
(4,809,499)
|
| KTR Capital Partners and Affiliates [Member] | Prologis, L.P. [Member] |
|
|
|
| Investing activities: |
|
|
|
| KTR transaction, net of cash received |
$ 0
|
$ 0
|
$ (4,809,499)
|