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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
ASSETS    
Investments in real estate properties $ 95,241,445 $ 95,129,356
Less accumulated depreciation 15,298,353 14,729,149
Net investments in real estate properties 79,943,092 80,400,207
Investments in and advances to unconsolidated entities 11,241,723 11,093,936
Assets held for sale or contribution 499,799 203,344
Net investments in real estate 91,684,614 91,697,487
Cash and cash equivalents 861,144 1,145,647
Other assets 5,587,693 5,881,122
Total assets 98,133,451 98,724,256
Liabilities:    
Debt [1] 34,669,592 35,037,073
Accounts payable and accrued expenses 1,681,047 1,963,645
Other liabilities 3,834,320 3,969,530
Total liabilities 40,184,959 40,970,248
Prologis, Inc. stockholders’ equity:    
Series Q preferred stock at stated liquidation preference of $50 per share; $0.01 par value; 1,279 shares issued and outstanding and 100,000 authorized at March 31, 2026 and December 31, 2025 63,948 63,948
Common stock; $0.01 par value; 932,283 and 929,153 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 9,323 9,292
Additional paid-in capital 54,830,655 54,698,641
Accumulated other comprehensive loss (479,497) (676,276)
Distributions in excess of net earnings (921,028) (902,427)
Total Prologis, Inc. stockholders’ equity 53,503,401 53,193,178
Noncontrolling interests 4,445,091 4,560,830
Total equity 57,948,492 57,754,008
Total liabilities and equity 98,133,451 98,724,256
Prologis, L.P. [Member]    
ASSETS    
Investments in real estate properties 95,241,445 95,129,356
Less accumulated depreciation 15,298,353 14,729,149
Net investments in real estate properties 79,943,092 80,400,207
Investments in and advances to unconsolidated entities 11,241,723 11,093,936
Assets held for sale or contribution 499,799 203,344
Net investments in real estate 91,684,614 91,697,487
Cash and cash equivalents 861,144 1,145,647
Other assets 5,587,693 5,881,122
Total assets 98,133,451 98,724,256
Liabilities:    
Debt 34,669,592 35,037,073
Accounts payable and accrued expenses 1,681,047 1,963,645
Other liabilities 3,834,320 3,969,530
Total liabilities 40,184,959 40,970,248
Prologis, Inc. stockholders’ equity:    
Noncontrolling interests 3,316,274 3,316,713
Total capital 57,948,492 57,754,008
Total liabilities and equity 98,133,451 98,724,256
Partners’ capital:    
Total partners’ capital 54,632,218 54,437,295
Prologis, L.P. [Member] | Preferred [Member]    
Partners’ capital:    
General partner 63,948 63,948
Prologis, L.P. [Member] | Common [Member]    
Partners’ capital:    
General partner 53,439,453 53,129,230
Limited partners $ 1,128,817 $ 1,244,117
[1] We borrow in the functional currencies of the countries where we invest. Included in the outstanding balances were borrowings denominated in the following currencies:

 

 

 

 

March 31, 2026

 

 

December 31, 2025

 

 

 

 

Weighted Average Interest Rate

 

Amount Outstanding

 

 

% of Total

 

 

Weighted Average Interest Rate

 

Amount Outstanding

 

 

% of Total

 

 

British pound sterling

 

3.0%

 

$

1,813,412

 

 

 

5.2

%

 

3.0%

 

$

1,843,931

 

 

 

5.3

%

 

Canadian dollar

 

4.4%

 

 

1,968,980

 

 

 

5.7

%

 

4.4%

 

 

2,004,638

 

 

 

5.7

%

 

Euro

 

2.2%

 

 

11,777,170

 

 

 

34.0

%

 

2.2%

 

 

12,302,104

 

 

 

35.1

%

 

Japanese yen

 

1.3%

 

 

2,957,165

 

 

 

8.5

%

 

1.2%

 

 

2,930,594

 

 

 

8.4

%

 

U.S. dollar

 

4.1%

 

 

15,568,447

 

 

 

44.9

%

 

4.1%

 

 

15,385,826

 

 

 

43.9

%

 

Other

 

3.8%

 

 

584,418

 

 

 

1.7

%

 

3.8%

 

 

569,980

 

 

 

1.6

%

 

Total

 

3.2%

 

$

34,669,592

 

 

 

100.0

%

 

3.2%

 

$

35,037,073

 

 

 

100.0

%