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v3.19.1

Unconsolidated Entities (Tables) | 3 Months Ended
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Mar. 31, 2019
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 our unconsolidated entities (in thousands):
|  | March 31, |  |  | December 31, |
|  | 2019 |  |  | 2018 |
Unconsolidated co-investment ventures |  | $ | 5,272,073 |  |  | $ | 5,407,838 |
Other ventures |  |  | 340,987 |  |  |  | 337,456 |
Total |  | $ | 5,613,060 |  |  | $ | 5,745,294 |
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 March 31, |
|  | 2019 |  |  | 2018 |
Recurring fees |  | $ | 62,117 |  |  | $ | 54,644 |
Transactional fees |  |  | 11,348 |  |  |  | 15,624 |
Promote revenues |  |  | - |  |  |  | 62,544 |
Total strategic capital revenues from unconsolidated co-investment ventures (1) |  | $ | 73,465 |  |  | $ | 132,812 |
(1) | These amounts exclude strategic capital revenues from other ventures.
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 (not our proportionate share) and the amounts we recognized in the Consolidated Financial Statements related to our unconsolidated co-investment ventures (dollars and square feet in millions):
| U.S. |  |  | Other Americas |  |  | Europe |  |  | Asia |  |  | Total |
As of: | Mar 31, 2019 |  |  | Dec 31, 2018 |  |  | Mar 31, 2019 (1) |  |  | Dec 31, 2018 |  |  | Mar 31, 2019 |  |  | Dec 31, 2018 |  |  | Mar 31, 2019 |  |  | Dec 31, 2018 |  |  | Mar 31, 2019 |  |  | Dec 31, 2018 |
Key property information: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ventures |  | 1 |  |  |  | 1 |  |  |  | 2 |  |  |  | 2 |  |  |  | 3 |  |  |  | 3 |  |  |  | 2 |  |  |  | 2 |  |  |  | 8 |  |  |  | 8 |
Operating properties |  | 566 |  |  |  | 566 |  |  |  | 215 |  |  |  | 209 |  |  |  | 679 |  |  |  | 669 |  |  |  | 131 |  |  |  | 125 |  |  |  | 1,591 |  |  |  | 1,569 |
Square feet |  | 91 |  |  |  | 91 |  |  |  | 45 |  |  |  | 39 |  |  |  | 161 |  |  |  | 159 |  |  |  | 53 |  |  |  | 51 |  |  |  | 350 |  |  |  | 340 |
Financial position: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unconsolidated co-investment ventures: |
Total assets ($) |  | 7,376 |  |  |  | 7,303 |  |  |  | 2,791 |  |  |  | 2,137 |  |  |  | 13,615 |  |  |  | 13,028 |  |  |  | 7,119 |  |  |  | 7,089 |  |  |  | 30,901 |  |  |  | 29,557 |
Third-party debt ($) |  | 2,090 |  |  |  | 2,094 |  |  |  | 775 |  |  |  | 838 |  |  |  | 2,993 |  |  |  | 2,548 |  |  |  | 2,835 |  |  |  | 2,668 |  |  |  | 8,693 |  |  |  | 8,148 |
Total liabilities ($) |  | 2,411 |  |  |  | 2,350 |  |  |  | 816 |  |  |  | 862 |  |  |  | 4,226 |  |  |  | 3,615 |  |  |  | 3,174 |  |  |  | 3,006 |  |  |  | 10,627 |  |  |  | 9,833 |
Our investment balance ($) (2) |  | 1,441 |  |  |  | 1,457 |  |  |  | 669 |  |  |  | 554 |  |  |  | 2,574 |  |  |  | 2,784 |  |  |  | 588 |  |  |  | 613 |  |  |  | 5,272 |  |  |  | 5,408 |
Our weighted average ownership (3) (4) |  | 27.2 | % |  |  | 27.4 | % |  |  | 38.5 | % |  |  | 44.4 | % |  |  | 30.6 | % |  |  | 33.2 | % |  |  | 15.1 | % |  |  | 15.1 | % |  |  | 27.0 | % |  |  | 28.3 | %
| U.S. |  |  | Other Americas |  |  | Europe |  |  | Asia |  |  | Total |
Operating Information: | Mar 31, 2019 |  |  | Mar 31, 2018 |  |  | Mar 31, 2019 |  |  | Mar 31, 2018 |  |  | Mar 31, 2019 |  |  | Mar 31, 2018 |  |  | Mar 31, 2019 |  |  | Mar 31, 2018 |  |  | Mar 31, 2019 |  |  | Mar 31, 2018 |
For the three months ended: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unconsolidated co-investment ventures: |
Total revenues ($) |  | 179 |  |  |  | 168 |  |  |  | 67 |  |  |  | 53 |  |  |  | 271 |  |  |  | 288 |  |  |  | 120 |  |  |  | 108 |  |  |  | 637 |  |  |  | 617 |
Net earnings ($) |  | 29 |  |  |  | 13 |  |  |  | 34 |  |  |  | 14 |  |  |  | 71 |  |  |  | 93 |  |  |  | 37 |  |  |  | 42 |  |  |  | 171 |  |  |  | 162 |
Our earnings from unconsolidated co-investment ventures, net ($) |  | 9 |  |  |  | 5 |  |  |  | 13 |  |  |  | 6 |  |  |  | 25 |  |  |  | 37 |  |  |  | 6 |  |  |  | 7 |  |  |  | 53 |  |  |  | 55 |
(1) | PBLV and our other Brazilian joint ventures are combined and accounted for as one venture for the purpose of this table.
(2) | Prologis’ investment balance is presented at our adjusted basis derived from the ventures’ U.S. GAAP information. The difference between our ownership interest of a venture’s equity and our investment balance at March 31, 2019 and December 31, 2018, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018 ($627.4 million and $635.9 million, respectively); (ii) recording additional costs associated with our investment in the venture ($88.4 million and $94.4 million, respectively); (iii) receivables, principally for fees and promotes ($100.9 million and $166.7 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to Nippon Prologis REIT, Inc. ($122.0 million for both periods).
(3) | 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.
(4) | In February 2019, we redeemed a portion of our investment in Prologis European Logistics Fund (“PELF”) for €278.2 million ($313.3 million). At March 31, 2019 our ownership in PELF was 24.3%.

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