XML 34 R8.htm IDEA: XBRL DOCUMENT v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities:    
Consolidated net earnings $ 1,044,815 $ 639,520
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Straight-lined rents and amortization of above and below market leases (165,749) (180,361)
Equity-based compensation awards 60,632 53,161
Depreciation and amortization 731,506 652,058
Earnings from unconsolidated entities, net (93,296) (67,899)
Operating distributions from unconsolidated entities 186,153 138,947
Decrease (increase) in operating receivables from unconsolidated entities 31,009 16,638
Amortization of debt discounts and debt issuance costs, net 20,632 20,835
Gains on dispositions of development properties and land, net (292,983) (27,451)
Gains on other dispositions of investments in real estate, net (91,040) (36,799)
Unrealized foreign currency and derivative losses (gains), net (14,308) 55,465
Losses (gains) on early extinguishment of debt, net 1,890 0
Deferred income tax expense (benefit) 190 6,682
Decrease (increase) in other assets 61,380 22,982
Increase (decrease) in accounts payable and accrued expenses and other liabilities (192,695) (133,025)
Net cash provided by (used in) operating activities 1,288,136 1,160,753
Investing activities:    
Real estate development (764,465) (776,184)
Real estate acquisitions (223,053) (779,664)
Tenant improvements and lease commissions on previously leased space (123,816) (123,123)
Property improvements (26,065) (34,367)
Proceeds from dispositions and contributions of real estate 624,036 157,013
Investments in and advances to unconsolidated entities (150,663) (27,352)
Return of investment from unconsolidated entities 86,616 28,314
Proceeds from the settlement of net investment hedges 310 4,852
Proceeds from maturity of short-term investments 176,485 0
Net cash provided by (used in) investing activities (400,615) (1,550,511)
Financing activities:    
Dividends/distributions paid on common and preferred units (1,000,577) (939,920)
Noncontrolling interests contributions 12,768 13,234
Noncontrolling interests distributions (80,168) (75,045)
Settlement of noncontrolling interests (47,952) (4,003)
Tax paid with shares of the Parent withheld (18,321) (15,416)
Debt and equity issuance costs paid (17,153) (2,648)
Net proceeds from (payments on) credit facilities and commercial paper 517,779 299,224
Repurchase of and payments on debt (686,276) (71,205)
Proceeds from the issuance of debt 161,620 520,219
Net cash provided by (used in) financing activities (1,158,280) (275,560)
Effect of foreign currency exchange rate changes on cash (13,744) 17,844
Net increase (decrease) in cash and cash equivalents (284,503) (647,474)
Cash and cash equivalents, beginning of period 1,145,647 1,318,591
Cash and cash equivalents, end of period 861,144 671,117
Prologis, L.P. [Member]    
Operating activities:    
Consolidated net earnings 1,044,815 639,520
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:    
Straight-lined rents and amortization of above and below market leases (165,749) (180,361)
Equity-based compensation awards 60,632 53,161
Depreciation and amortization 731,506 652,058
Earnings from unconsolidated entities, net (93,296) (67,899)
Operating distributions from unconsolidated entities 186,153 138,947
Decrease (increase) in operating receivables from unconsolidated entities 31,009 16,638
Amortization of debt discounts and debt issuance costs, net 20,632 20,835
Gains on dispositions of development properties and land, net (292,983) (27,451)
Gains on other dispositions of investments in real estate, net (91,040) (36,799)
Unrealized foreign currency and derivative losses (gains), net (14,308) 55,465
Losses (gains) on early extinguishment of debt, net 1,890 0
Deferred income tax expense (benefit) 190 6,682
Decrease (increase) in other assets 61,380 22,982
Increase (decrease) in accounts payable and accrued expenses and other liabilities (192,695) (133,025)
Net cash provided by (used in) operating activities 1,288,136 1,160,753
Investing activities:    
Real estate development (764,465) (776,184)
Real estate acquisitions (223,053) (779,664)
Tenant improvements and lease commissions on previously leased space (123,816) (123,123)
Property improvements (26,065) (34,367)
Proceeds from dispositions and contributions of real estate 624,036 157,013
Investments in and advances to unconsolidated entities (150,663) (27,352)
Return of investment from unconsolidated entities 86,616 28,314
Proceeds from the settlement of net investment hedges 310 4,852
Proceeds from maturity of short-term investments 176,485 0
Net cash provided by (used in) investing activities (400,615) (1,550,511)
Financing activities:    
Dividends/distributions paid on common and preferred units (1,026,181) (966,314)
Noncontrolling interests contributions 12,768 13,234
Noncontrolling interests distributions (54,564) (48,651)
Redemption of common limited partnership units (47,952) (4,003)
Tax paid with shares of the Parent withheld (18,321) (15,416)
Debt and equity issuance costs paid (17,153) (2,648)
Net proceeds from (payments on) credit facilities and commercial paper 517,779 299,224
Repurchase of and payments on debt (686,276) (71,205)
Proceeds from the issuance of debt 161,620 520,219
Net cash provided by (used in) financing activities (1,158,280) (275,560)
Effect of foreign currency exchange rate changes on cash (13,744) 17,844
Net increase (decrease) in cash and cash equivalents (284,503) (647,474)
Cash and cash equivalents, beginning of period 1,145,647 1,318,591
Cash and cash equivalents, end of period $ 861,144 $ 671,117