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Noncontrolling Interests | 3 Months Ended
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Mar. 31, 2021
Noncontrolling Interest [Abstract] |
Noncontrolling Interests | NOTE 7. NONCONTROLLING INTERESTS Prologis, L.P. We report noncontrolling interests related to several entities we consolidate but of which we do not own 100% of the equity. These entities include two real estate partnerships that have issued limited partnership units to third parties. Depending on the specific partnership agreements, these limited partnership units are redeemable for cash or, at our option, shares of the Parent’s common stock, generally at a rate of one share of common stock to one limited partnership unit. We also consolidate certain entities in which we do not own 100% of the equity but the equity of these entities is not exchangeable into our common stock. Prologis, Inc. The noncontrolling interests of the Parent include the noncontrolling interests described above for the OP, as well as the limited partnership units in the OP that are not owned by the Parent. The outstanding limited partnership units receive quarterly cash distributions equal to the quarterly dividends paid on our common stock pursuant to the terms of the applicable partnership agreements. The following table summarizes these entities (dollars in thousands):
| Our Ownership Percentage |  |  | Noncontrolling Interests |  |  | Total Assets |  |  | Total Liabilities |
| Mar 31, 2021 |  |  | Dec 31, 2020 |  |  | Mar 31, 2021 |  |  | Dec 31, 2020 |  |  | Mar 31, 2021 |  |  | Dec 31, 2020 |  |  | Mar 31, 2021 |  |  | Dec 31, 2020 |
Prologis U.S. Logistics Venture |  | 55.0 | % |  |  | 55.0 | % |  | $ | 3,375,502 |  |  | $ | 3,385,110 |  |  | $ | 7,625,390 |  |  | $ | 7,663,800 |  |  | $ | 134,457 |  |  | $ | 145,131 |
Other consolidated entities (1) | various |  |  | various |  |  |  | 97,960 |  |  |  | 98,416 |  |  |  | 1,055,677 |  |  |  | 1,066,129 |  |  |  | 72,204 |  |  |  | 73,987 |
Prologis, L.P. |  |  |  |  |  |  |  |  |  | 3,473,462 |  |  |  | 3,483,526 |  |  |  | 8,681,067 |  |  |  | 8,729,929 |  |  |  | 206,661 |  |  |  | 219,118 |
Limited partners in Prologis, L.P. (2)(3) |  |  |  | 903,224 |  |  |  | 869,507 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Prologis, Inc. |  |  |  |  |  |  |  |  | $ | 4,376,686 |  |  | $ | 4,353,033 |  |  | $ | 8,681,067 |  |  | $ | 8,729,929 |  |  | $ | 206,661 |  |  | $ | 219,118 |
(1) | Includes our two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. The limited partnership units outstanding at March 31, 2021 and December 31, 2020 were exchangeable into cash or, at our option, 0.3 million shares of the Parent’s common stock.
(2) | We had 8.6 million Class A Units that were convertible into 8.0 million limited partnership units of the OP at March 31, 2021 and December 31, 2020.
(3) | At March 31, 2021 and December 31, 2020, excluding the Class A Units, there were limited partnership units in the OP that were exchangeable into cash or, at our option, 8.2 million shares of the Parent’s common stock. Also included were the vested OP Long-Term Incentive Plan Units (“LTIP Units”) associated with our long-term compensation plan of 4.7 million at March 31, 2021 and 3.9 million at December 31, 2020. See further discussion of LTIP Units in Note 8.

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -URI http://asc.fasb.org/topic&trid=2197479 + Details
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