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Earnings Per Common Share or Unit (Tables) | 3 Months Ended
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Mar. 31, 2026
Earnings Per Share [Abstract] |
Computation of Basic and Diluted Earnings Per Share Unit | The computation of our basic and diluted earnings per share and unit was as follows (in thousands, except per share and unit amounts):
|  | Three Months Ended |
|  | March 31, |
Prologis, Inc. |  | 2026 |  |  | 2025 |
Net earnings attributable to common stockholders – Basic |  | $ | 980,476 |  |  | $ | 591,501 |
Net earnings attributable to exchangeable limited partnership units (1) |  |  | 23,027 |  |  |  | 14,991 |
Adjusted net earnings attributable to common stockholders – Diluted |  | $ | 1,003,503 |  |  | $ | 606,492 |
Weighted average common shares outstanding – Basic |  |  | 931,261 |  |  |  | 927,338 |
Incremental weighted average effect on exchange of limited partnership units (1) |  |  | 21,979 |  |  |  | 23,501 |
Incremental weighted average effect of equity awards |  |  | 4,321 |  |  |  | 5,241 |
Weighted average common shares outstanding – Diluted (2) |  |  | 957,561 |  |  |  | 956,080 |
Net earnings per share attributable to common stockholders: |  |  |  |  |  |
Basic |  | $ | 1.05 |  |  | $ | 0.64 |
Diluted |  | $ | 1.05 |  |  | $ | 0.63 |
|  | Three Months Ended |
|  | March 31, |
Prologis, L.P. |  | 2026 |  |  | 2025 |
Net earnings attributable to common unitholders |  | $ | 1,003,337 |  |  | $ | 606,492 |
Net earnings attributable to Class A Units |  |  | - |  |  |  | (4,578 | )
Net earnings attributable to common unitholders – Basic |  |  | 1,003,337 |  |  |  | 601,914 |
Net earnings attributable to Class A Units |  |  | - |  |  |  | 4,578 |
Net earnings attributable to exchangeable other limited partnership units |  |  | 166 |  |  |  | - |
Adjusted net earnings attributable to common unitholders – Diluted |  | $ | 1,003,503 |  |  | $ | 606,492 |
Weighted average common partnership units outstanding – Basic |  |  | 952,981 |  |  |  | 943,662 |
Incremental weighted average effect on exchange of Class A Units |  |  | - |  |  |  | 7,177 |
Incremental weighted average effect on exchange of other limited partnership units |  |  | 259 |  |  |  | - |
Incremental weighted average effect of equity awards of Prologis, Inc. |  |  | 4,321 |  |  |  | 5,241 |
Weighted average common units outstanding – Diluted (2) |  |  | 957,561 |  |  |  | 956,080 |
Net earnings per unit attributable to common unitholders: |  |  |  |  |  |
Basic |  | $ | 1.05 |  |  | $ | 0.64 |
Diluted |  | $ | 1.05 |  |  | $ | 0.63 |
(1) Earnings allocated to the exchangeable OP units not held by the Parent have been included in the numerator and exchangeable common units have been included in the denominator for the purpose of computing diluted earnings per share for all periods as the per share and unit amount is the same. (2) Our total weighted average potentially dilutive shares and units outstanding consisted of the following:
|  |  | Three Months Ended |
|  |  | March 31, |
|  |  | 2026 |  |  | 2025 |
| Class A Units |  |  | - |  |  |  | 7,177 |
| Other limited partnership units |  |  | 259 |  |  |  | 278 |
| Equity awards |  |  | 7,479 |  |  |  | 8,252 |
| Prologis, L.P. |  |  | 7,738 |  |  |  | 15,707 |
| Common limited partnership units |  |  | 21,720 |  |  |  | 16,324 |
| Prologis, Inc. |  |  | 29,458 |  |  |  | 32,031 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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