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Noncontrolling Interests (Tables)

3 Months Ended

Mar. 31, 2026

Summary of Ownership Percentages and Noncontrolling Interests

The following table summarizes these entities (dollars in thousands):


	Our Ownership Percentage						Noncontrolling Interests				Total Assets				Total Liabilities
	Mar 31, 2026			Dec 31, 2025			Mar 31, 2026		Dec 31, 2025		Mar 31, 2026		Dec 31, 2025		Mar 31, 2026		Dec 31, 2025
Prologis U.S. Logistics Venture		55.0	%		55.0	%	$	3,057,411	$	3,071,053	$	6,948,377	$	6,885,453	$	149,089	$	156,368
Other consolidated entities (1)	various			various				258,863		245,660		3,593,737		3,521,831		487,839		541,602
Prologis, L.P.								3,316,274		3,316,713		10,542,114		10,407,284		636,928		697,970
Limited partners in Prologis, L.P. (2)								1,128,817		1,244,117		-		-		-		-
Prologis, Inc.							$	4,445,091	$	4,560,830	$	10,542,114	$	10,407,284	$	636,928	$	697,970

(1)

Includes two partnerships that have issued limited partnership units to third parties. The limited partnership units outstanding at March 31, 2026 and December 31, 2025 were exchangeable into cash or, at our option, 0.3 million shares of the Parent’s common stock.

(2)

At March 31, 2026 and December 31, 2025, limited partnership units in the OP were exchangeable into cash or, at our option, 12.1 million and 14.9 million shares of the Parent’s common stock, respectively, and vested OP Long-Term Incentive Plan Units (“LTIP Units”) associated with our long-term compensation plans were exchangeable into 7.6 million and 6.9 million shares of the Parent’s common stock, respectively. See further discussion of LTIP Units in Note 7.