Prologis (PLD) 10-Q 6 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 02, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	PLD
Entity Registrant Name	Prologis, Inc.
Entity Central Index Key	1,045,609
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		525,367,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
ASSETS
Investments in real estate properties	$ 27,628,680	$ 27,521,368
Less accumulated depreciation	3,424,143	3,274,284
Net investments in real estate properties	24,204,537	24,247,084
Investments in and advances to unconsolidated entities	4,866,664	4,755,620
Assets held for sale or contribution	431,332	378,423
Notes receivable backed by real estate	37,550	235,050
Net investments in real estate	29,540,083	29,616,177
Cash and cash equivalents	369,737	264,080
Other assets	1,465,928	1,514,510
Total assets	31,375,748	31,394,767
Liabilities:
Debt	11,687,171	11,626,831
Accounts payable and accrued expenses	698,678	712,725
Other liabilities	649,275	634,375
Total liabilities	13,035,124	12,973,931
Prologis, Inc. stockholders’ equity:
Series Q preferred stock at stated liquidation preference of $50 per share: $0.01 par value; 1,565 shares issued and outstanding and 100,000 preferred shares authorized at March 31, 2016, and December 31, 2015	78,235	78,235
Common stock: $0.01 par value; 525,132 shares and 524,512 shares issued and outstanding at March 31, 2016, and December 31, 2015, respectively	5,251	5,245
Additional paid-in capital	19,302,387	19,302,367
Accumulated other comprehensive loss	(813,900)	(791,429)
Distributions in excess of net earnings	(3,939,312)	(3,926,483)
Total Prologis, Inc. stockholders’ equity	14,632,661	14,667,935
Partners' capital:
Total partners’ capital	0	0
Noncontrolling interests	3,707,963	3,752,901
Total equity	18,340,624	18,420,836
Total liabilities and equity	31,375,748	31,394,767
Prologis, L.P. [Member]
ASSETS
Investments in real estate properties	27,628,680	27,521,368
Less accumulated depreciation	3,424,143	3,274,284
Net investments in real estate properties	24,204,537	24,247,084
Investments in and advances to unconsolidated entities	4,866,664	4,755,620
Assets held for sale or contribution	431,332	378,423
Notes receivable backed by real estate	37,550	235,050
Net investments in real estate	29,540,083	29,616,177
Cash and cash equivalents	369,737	264,080
Other assets	1,465,928	1,514,510
Total assets	31,375,748	31,394,767
Liabilities:
Debt	11,687,171	11,626,831
Accounts payable and accrued expenses	698,678	712,725
Other liabilities	649,275	634,375
Total liabilities	13,035,124	12,973,931
Partners' capital:
Total partners’ capital	15,076,536	15,100,609
Noncontrolling interests	3,264,088	3,320,227
Total capital	18,340,624	18,420,836
Total liabilities and equity	31,375,748	31,394,767
Prologis, L.P. [Member] | Preferred [Member]
Partners' capital:
General partner	78,235	78,235
Prologis, L.P. [Member] | Common [Member]
Partners' capital:
General partner	14,554,426	14,589,700
Limited partners	197,358	186,683
Prologis, L.P. [Member] | Class A Capital [Member]
Partners' capital:
Limited partners	$ 246,517	$ 245,991

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Preferred stock, liquidation preference per share	$ 50	$ 50
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	1,565,000	1,565,000
Preferred stock, shares outstanding	1,565,000	1,565,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	525,132,000	524,512,000
Common stock, shares outstanding	525,132,000	524,512,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Rental	$ 437,104	$ 324,547
Rental recoveries	117,012	94,255
Strategic capital	49,666	42,025
Development management and other	2,518	2,020
Total revenues	606,300	462,847
Expenses:
Rental	146,581	127,095
Strategic capital	25,293	25,182
General and administrative, net	50,543	51,306
Depreciation and amortization	250,000	169,808
Other	4,685	5,575
Total expenses	477,102	378,966
Operating income	129,198	83,881
Other income (expense):
Earnings from unconsolidated entities, net	58,311	31,042
Interest expense	(80,812)	(68,761)
Interest and other income, net	2,591	11,049
Gains on dispositions of investments in real estate, net	144,317	277,715
Foreign currency and derivative gains (losses) and related amortization, net	(14,211)	34,566
Losses on early extinguishment of debt, net	(1,052)	(16,289)
Total other income	109,144	269,322
Earnings before income taxes	238,342	353,203
Total income tax expense	15,537	1,891
Consolidated net earnings	222,805	351,312
Less net earnings attributable to noncontrolling interests	13,075	4,436
Net earnings attributable to controlling interests	209,730	346,876
Less preferred stock/unit dividends/distributions	1,689	1,670
Net earnings attributable to common stockholders/unitholders	$ 208,041	$ 345,206
Weighted average common shares/units outstanding – Basic	524,205	514,022
Weighted average common shares/units outstanding – Diluted	543,562	529,022
Net earnings per share attributable to common stockholders/unitholders – Basic	$ 0.40	$ 0.67
Net earnings per share attributable to common stockholders/unitholders – Diluted	0.39	0.65
Dividends per common share or unit	$ 0.42	$ 0.36
Prologis, L.P. [Member]
Revenues:
Rental	$ 437,104	$ 324,547
Rental recoveries	117,012	94,255
Strategic capital	49,666	42,025
Development management and other	2,518	2,020
Total revenues	606,300	462,847
Expenses:
Rental	146,581	127,095
Strategic capital	25,293	25,182
General and administrative, net	50,543	51,306
Depreciation and amortization	250,000	169,808
Other	4,685	5,575
Total expenses	477,102	378,966
Operating income	129,198	83,881
Other income (expense):
Earnings from unconsolidated entities, net	58,311	31,042
Interest expense	(80,812)	(68,761)
Interest and other income, net	2,591	11,049
Gains on dispositions of investments in real estate, net	144,317	277,715
Foreign currency and derivative gains (losses) and related amortization, net	(14,211)	34,566
Losses on early extinguishment of debt, net	(1,052)	(16,289)
Total other income	109,144	269,322
Earnings before income taxes	238,342	353,203
Total income tax expense	15,537	1,891
Consolidated net earnings	222,805	351,312
Less net earnings attributable to noncontrolling interests	6,841	3,154
Net earnings attributable to controlling interests	215,964	348,158
Less preferred stock/unit dividends/distributions	1,689	1,670
Net earnings attributable to common stockholders/unitholders	$ 214,275	$ 346,488
Weighted average common shares/units outstanding – Basic	531,070	515,931
Weighted average common shares/units outstanding – Diluted	543,562	529,022
Net earnings per share attributable to common stockholders/unitholders – Basic	$ 0.40	$ 0.67
Net earnings per share attributable to common stockholders/unitholders – Diluted	0.39	0.65
Dividends per common share or unit	$ 0.42	$ 0.36

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Consolidated net earnings	$ 222,805	$ 351,312
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	1,461	(124,279)
Unrealized gains (losses) and amortization on derivative contracts, net	(15,892)	3,809
Comprehensive income	208,374	230,842
Net earnings attributable to noncontrolling interests	(13,075)	(4,436)
Other comprehensive loss (income) attributable to noncontrolling interest	(8,040)	19,094
Comprehensive income attributable to common stockholders / unitholders	187,259	245,500
Prologis, L.P. [Member]
Consolidated net earnings	222,805	351,312
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	1,461	(124,279)
Unrealized gains (losses) and amortization on derivative contracts, net	(15,892)	3,809
Comprehensive income	208,374	230,842
Net earnings attributable to noncontrolling interests	(6,841)	(3,154)
Other comprehensive loss (income) attributable to noncontrolling interest	(8,726)	18,705
Comprehensive income attributable to common stockholders / unitholders	$ 192,807	$ 246,393

Consolidated Statement of Equit

Consolidated Statement of Equity - 3 months ended Mar. 31, 2016 - USD ($) shares in Thousands, $ in Thousands	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Distributions in Excess of Net Earnings [Member]	Non-controlling Interests [Member]
Balance at Dec. 31, 2015	$ 18,420,836	$ 78,235	$ 5,245	$ 19,302,367	$ (791,429)	$ (3,926,483)	$ 3,752,901
Balance, shares at Dec. 31, 2015	524,512		524,512
Consolidated net earnings	$ 222,805					209,730	13,075
Effect of equity compensation plans	12,868		$ 6	7,524			5,338
Effect of equity compensation plans, shares			620
Issuance of units related to acquisitions	876						876
Settlement of noncontrolling interests	(2,128)			851			(2,979)
Capital contributions	256						256
Foreign currency translation gains (losses), net	1,461				(7,050)		8,511
Unrealized losses and amortization on derivative contracts, net	(15,892)				(15,421)		(471)
Reallocation of equity				(8,848)			8,848
Distributions and other	(300,458)			493		(222,559)	(78,392)
Balance at Mar. 31, 2016	$ 18,340,624	$ 78,235	$ 5,251	$ 19,302,387	$ (813,900)	$ (3,939,312)	$ 3,707,963
Balance, shares at Mar. 31, 2016	525,132		525,132

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities:
Consolidated net earnings	$ 222,805	$ 351,312
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(20,283)	(4,832)
Equity-based compensation awards	12,465	13,234
Depreciation and amortization	250,000	169,808
Earnings from unconsolidated entities, net	(58,311)	(31,042)
Distributions from unconsolidated entities	69,750	32,361
Net changes in operating receivables from unconsolidated entities	30,599	(7,645)
Amortization of debt premiums, net of deferred financing costs	(5,391)	(6,419)
Gains on dispositions of investments in real estate, net	(144,317)	(277,715)
Losses on early extinguishment of debt, net	1,052	16,289
Unrealized foreign currency and derivative losses (gains) and related amortization, net	15,079	(32,860)
Deferred income tax expense (benefit)	(619)	1,052
Decrease (increase) in accounts receivable and other assets	11,455	(28,673)
Decrease in accounts payable and accrued expenses and other liabilities	(118,014)	(113,338)
Net cash provided by operating activities	266,270	81,532
Investing activities:
Real estate development activity	(343,955)	(337,416)
Real estate acquisitions	(67,346)	(68,844)
Tenant improvements and lease commissions on previously leased space	(41,569)	(30,800)
Nondevelopment capital expenditures	(10,721)	(11,602)
Proceeds from dispositions and contributions of real estate properties	603,387	325,830
Investments in and advances to unconsolidated entities	(117,017)	(123,689)
Return of investment from unconsolidated entities	121,479	34,849
Proceeds from repayment of notes receivable backed by real estate	197,500	9,866
Proceeds from the settlement of net investment hedges	869	1,457
Net cash provided by (used in) investing activities	342,627	(200,349)
Financing activities:
Proceeds from issuance of common stock	1,192	82,068
Dividends paid on common and preferred stock	(222,559)	(190,585)
Noncontrolling interests contributions	256	0
Noncontrolling interests distributions	(78,888)	(22,028)
Purchase of noncontrolling interests	(2,128)	0
Debt and equity issuance costs paid	(315)	(2,892)
Net proceeds from credit facilities	302,983	66,639
Repurchase and payments of debt	(809,309)	(313,005)
Proceeds from issuance of debt	299,497	347,850
Net cash used in financing activities	(509,271)	(31,953)
Effect of foreign currency exchange rate changes on cash	6,031	(7,909)
Net increase (decrease) in cash and cash equivalents	105,657	(158,679)
Cash and cash equivalents, beginning of period	264,080	350,692
Cash and cash equivalents, end of period	369,737	192,013
Prologis, L.P. [Member]
Operating activities:
Consolidated net earnings	222,805	351,312
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(20,283)	(4,832)
Equity-based compensation awards	12,465	13,234
Depreciation and amortization	250,000	169,808
Earnings from unconsolidated entities, net	(58,311)	(31,042)
Distributions from unconsolidated entities	69,750	32,361
Net changes in operating receivables from unconsolidated entities	30,599	(7,645)
Amortization of debt premiums, net of deferred financing costs	(5,391)	(6,419)
Gains on dispositions of investments in real estate, net	(144,317)	(277,715)
Losses on early extinguishment of debt, net	1,052	16,289
Unrealized foreign currency and derivative losses (gains) and related amortization, net	15,079	(32,860)
Deferred income tax expense (benefit)	(619)	1,052
Decrease (increase) in accounts receivable and other assets	11,455	(28,673)
Decrease in accounts payable and accrued expenses and other liabilities	(118,014)	(113,338)
Net cash provided by operating activities	266,270	81,532
Investing activities:
Real estate development activity	(343,955)	(337,416)
Real estate acquisitions	(67,346)	(68,844)
Tenant improvements and lease commissions on previously leased space	(41,569)	(30,800)
Nondevelopment capital expenditures	(10,721)	(11,602)
Proceeds from dispositions and contributions of real estate properties	603,387	325,830
Investments in and advances to unconsolidated entities	(117,017)	(123,689)
Return of investment from unconsolidated entities	121,479	34,849
Proceeds from repayment of notes receivable backed by real estate	197,500	9,866
Proceeds from the settlement of net investment hedges	869	1,457
Net cash provided by (used in) investing activities	342,627	(200,349)
Financing activities:
Proceeds from issuance of common stock	1,192	82,068
Dividends paid on common and preferred stock	(231,967)	(191,735)
Noncontrolling interests contributions	256	0
Noncontrolling interests distributions	(69,480)	(20,878)
Purchase of noncontrolling interests	(2,128)	0
Debt and equity issuance costs paid	(315)	(2,892)
Net proceeds from credit facilities	302,983	66,639
Repurchase and payments of debt	(809,309)	(313,005)
Proceeds from issuance of debt	299,497	347,850
Net cash used in financing activities	(509,271)	(31,953)
Effect of foreign currency exchange rate changes on cash	6,031	(7,909)
Net increase (decrease) in cash and cash equivalents	105,657	(158,679)
Cash and cash equivalents, beginning of period	264,080	350,692
Cash and cash equivalents, end of period	$ 369,737	$ 192,013

Consolidated Statements of Capi

Consolidated Statements of Capital shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)shares
Consolidated net earnings	$ 222,805
Effect of equity compensation plans	12,868
Issuance of units related to acquisitions	876
Capital contributions	256
Foreign currency translation gains (losses), net	1,461
Unrealized losses and amortization on derivative contracts, net	(15,892)
Non-controlling Interests [Member]
Consolidated net earnings	13,075
Effect of equity compensation plans	5,338
Issuance of units related to acquisitions	876
Capital contributions	256
Foreign currency translation gains (losses), net	8,511
Unrealized losses and amortization on derivative contracts, net	$ (471)
Class A Capital [Member]
Beginning balance, Units | shares	8,900
Ending balance, Units | shares	8,900
Prologis, L.P. [Member]
Beginning balance	$ 18,420,836
Consolidated net earnings	222,805
Effect of equity compensation plans	12,868
Issuance of units related to acquisitions	876
Settlement of noncontrolling interests	(2,128)
Capital contributions	256
Foreign currency translation gains (losses), net	1,461
Unrealized losses and amortization on derivative contracts, net	(15,892)
Distributions and other	(300,458)
Ending balance	18,340,624
Prologis, L.P. [Member] | Non-controlling Interests [Member]
Beginning balance	3,320,227
Consolidated net earnings	6,841
Settlement of noncontrolling interests	(2,979)
Capital contributions	256
Foreign currency translation gains (losses), net	8,726
Distributions and other	(68,983)
Ending balance	$ 3,264,088
Prologis, L.P. [Member] | Common [Member]
Beginning balance, Units | shares	6,711
Effect of equity compensation plans, shares | shares	388
Issuance of units related to acquisition, shares | shares	22
Ending balance, Units | shares	7,121
General Partner [Member] | Prologis, L.P. [Member] | Preferred [Member]
Beginning balance	$ 78,235
Beginning balance, Units | shares	1,565
Ending balance	$ 78,235
Ending balance, Units | shares	1,565
General Partner [Member] | Prologis, L.P. [Member] | Common [Member]
Beginning balance	$ 14,589,700
Beginning balance, Units | shares	524,512
Consolidated net earnings	$ 209,730
Effect of equity compensation plans	$ 7,530
Effect of equity compensation plans, shares | shares	620
Settlement of noncontrolling interests	$ 851
Foreign currency translation gains (losses), net	(7,050)
Unrealized losses and amortization on derivative contracts, net	(15,421)
Reallocation of capital	(8,848)
Distributions and other	(222,066)
Ending balance	$ 14,554,426
Ending balance, Units | shares	525,132
Limited Partners [Member] | Prologis, L.P. [Member] | Common [Member]
Beginning balance	$ 186,683
Consolidated net earnings	2,724
Effect of equity compensation plans	5,338
Issuance of units related to acquisitions	876
Foreign currency translation gains (losses), net	(94)
Unrealized losses and amortization on derivative contracts, net	(206)
Reallocation of capital	5,694
Distributions and other	(3,657)
Ending balance	197,358
Limited Partners [Member] | Prologis, L.P. [Member] | Class A Capital [Member]
Beginning balance	$ 245,991
Beginning balance, Units | shares	8,894
Consolidated net earnings	$ 3,510
Foreign currency translation gains (losses), net	(121)
Unrealized losses and amortization on derivative contracts, net	(265)
Reallocation of capital	3,154
Distributions and other	(5,752)
Ending balance	$ 246,517
Ending balance, Units | shares	8,894

General

General	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
General	NOTE 1. GENERAL Business . Prologis, Inc. (or the “Parent”) commenced operations as a fully integrated real estate company in 1997, elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), and believes the current organization and method of operation will enable it to maintain its status as a REIT. The Parent is the general partner of Prologis, L.P. (or the “Operating Partnership”). Through the Operating Partnership, we are engaged in the ownership, acquisition, development and management of logistics properties in the world’s primary population centers and in those supported by extensive transportation infrastructure. Our current business strategy consists of two operating business segments: Real Estate Operations and Strategic Capital. Our Real Estate Operations segment represents the ownership of industrial properties. Our Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities. See Note 12 for further discussion of our business segments. Unless otherwise indicated, the Notes to the Consolidated Financial Statements apply to both the Parent and the Operating Partnership. The terms “the Company,” “Prologis,” “we,” “our” or “us” means the Parent and Operating Partnership collectively. For each share of common stock or preferred stock the Parent issues, the Operating Partnership issues a corresponding common or preferred partnership unit, as applicable, to the Parent in exchange for the contribution of the proceeds from the stock issuance. At March 31, 2016, the Parent owned an approximate 97.04% common general partnership interest in the Operating Partnership and 100% of the preferred units in the Operating Partnership. The remaining approximate 2.96% common limited partnership interests, which include 8.9 million Class A common limited partnership units (“Class A Units”) in the Operating Partnership, are owned by unaffiliated investors and certain current and former directors and officers of the Parent. Each partner’s percentage interest in the Operating Partnership is determined based on the number of Operating Partnership units owned as compared to total Operating Partnership units outstanding as of each period end and is used as the basis for the allocation of net income or loss to each partner. At the end of each reporting period, a capital adjustment is made in the Operating Partnership to reflect the appropriate ownership interest for each of the common unitholders. These adjustments are reflected in the line items Reallocation of Equity Reallocation of Capital. As the sole general partner of the Operating Partnership, the Parent has complete responsibility and discretion in the day-to-day management and control of the Operating Partnership and we operate the Parent and the Operating Partnership as one enterprise. The management of the Parent consists of the same members as the management of the Operating Partnership. These members are officers of the Parent and employees of the Operating Partnership or one of its subsidiaries. As general partner with control of the Operating Partnership, the Parent consolidates the Operating Partnership. Because the Parent’s only significant asset is its investment in the Operating Partnership, the assets and liabilities of the Parent and the Operating Partnership are the same on their respective financial statements. Basis of Presentation. The accompanying Consolidated Financial Statements are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) and are presented in our reporting currency, the U.S. dollar. All material intercompany transactions with consolidated entities have been eliminated. The accompanying unaudited interim financial information has been prepared according to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in our annual financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations. Our management believes that the disclosures presented in these financial statements are adequate to make the information presented not misleading. In our opinion, all adjustments and eliminations, consisting only of normal recurring adjustments, necessary to present fairly the financial position and results of operations for both the Parent and the Operating Partnership for the reported periods have been included. The results of operations for such interim periods are not necessarily indicative of the results for the full year. The accompanying unaudited interim financial information should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended December 31, 2015, as filed with the SEC, and other public information. Certain amounts included in the accompanying Consolidated Financial Statements for 2015 have been reclassified to conform to the 2016 financial statement presentation. New Accounting Pronouncements. In March 2016, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update that amends the leasing standards in existing GAAP. Under the update, companies that lease assets will be required to recognize on their balance sheets the assets and liabilities for the rights and obligations created by leases with a term greater than 12 months. This will have the effect of recognizing substantially all operating leases on the balance sheet. The accounting for companies that own assets that are leased, such as Prologis, will remain largely unchanged from current GAAP. It is effective for annual reporting periods beginning after December 15, 2018, but early adoption is permitted. We are currently evaluating the impact the adoption of this standard will have on the Consolidated Financial Statements. In February 2015, the FASB issued an accounting standard update that amends the consolidation requirements in existing GAAP. Under the update, all entities, including limited partnerships and similar legal entities, are now within the scope of consolidation guidance, unless a scope exception applies. The presumption that a general partner controls a limited partnership has been eliminated. In addition, fees paid to decision makers that meet certain conditions no longer cause the decision makers to consolidate variable interest entities (“VIEs”). If an entity is determined to be a VIE, it must be consolidated by the primary beneficiary. The primary beneficiary is the enterprise that has the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, absorbs the majority of the entity’s expected losses, or receives a majority of the entity’s expected residual returns. We adopted this standard on a modified retrospective basis on January 1, 2016, and the adoption did not have a material effect on the Consolidated Financial Statements, however the Operating Partnership and certain of our consolidated co-investment ventures now qualify as VIEs under the new guidance, which required additional disclosures. See Note 8 for additional information about our VIEs. In May 2014, the FASB issued an accounting standard update that requires companies to use a five step model to determine when to recognize revenue from customer contracts in an effort to increase consistency and comparability throughout global capital markets and across industries. Under the model, a company will identify the contract, identify any separate performance obligations in the contract, determine the transaction price, allocate the transaction price and recognize revenue when the performance obligation is satisfied. In July 2015, the FASB deferred the effective date by one year to annual reporting periods beginning after December 15, 2017. The FASB also permits early adoption of the standard, but not before the original effective date of December 15, 2016. We are currently evaluating the impact the adoption of this standard will have on the Consolidated Financial Statements.

Business Combination

Business Combination	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Business Combination	NOTE 2. BUSINESS COMBINATION On May 29, 2015, we acquired the real estate assets and operating platform from KTR Capital Partners and its affiliates (“KTR”). The portfolio consisted of 315 operating properties, aggregating 59.0 million square feet, 3.6 million square feet of properties under development and land parcels that will support an estimated build out of 6.8 million square feet. The properties were acquired by our consolidated co-investment venture Prologis U.S. Logistics Venture, of which we own 55%. The acquisition was funded through cash (which included the contribution of $2.3 billion from our venture partner and the proceeds from the issuance of debt), the assumption of secured mortgage debt and the issuance of 4.5 million common limited partnership units in the Operating Partnership. The allocation of the purchase price required a significant amount of judgment and was based on our valuations, estimates and assumptions of the acquisition date fair value of the tangible and intangible assets acquired and liabilities assumed. While the preliminary allocation of the purchase price is substantially complete, the valuation of the real estate properties is still being finalized. We do not expect future revisions, if any, to have a significant impact on our financial position or results of operations. The allocation of the purchase price was as follows (in thousands): Investments in real estate properties $ 5,440,348 Intangible assets, net of intangible liabilities 332,708 Accounts receivable and other assets 8,414 Debt, including premium (735,172 ) Accounts payable, accrued expenses and other liabilities (55,629 ) Total estimated purchase price 4,990,669 Our venture partner’s share of purchase price (2,253,234 ) Common limited partnership units issued in the Operating Partnership (181,170 ) Prologis share of cash purchase price $ 2,556,265 The following pro forma financial information presents our results as though the KTR acquisition had been completed on January 1, 2014. The pro forma information does not reflect the actual results of operations had the transaction actually been completed on January 1, 2014, and it is not indicative of future operating results. The results for the three months ended March 31, 2015, include three months of pro forma adjustments. The following amounts are in thousands, except per share amounts: Three Months Ended March 31, 2015 Total revenues $ 558,797 Net earnings attributable to common stockholders $ 341,538 Net earnings per share attributable to common stockholders – Basic $ 0.66 Net earnings per share attributable to common stockholders – Diluted $ 0.65 These results include certain adjustments, primarily: (i) decreased revenues from the amortization of the net assets from the acquired leases with net favorable rents relative to estimated market rents; (ii) increased depreciation and amortization expense resulting from the adjustment of real estate assets to estimated fair value and recognition of intangible assets related to in-place leases; and (iii) additional interest expense attributable to the debt issued to finance our cash portion of the acquisition offset by lower interest expense due to the accretion of the fair value adjustment of debt assumed.

Real Estate

Real Estate	3 Months Ended
	Mar. 31, 2016
Real Estate [Abstract]
Real Estate	NOTE 3. REAL ESTATE Investments in real estate properties consisted of the following (dollars and square feet in thousands): Square Feet and Acres (1) Number of Buildings (1) March 31, December 31, March 31, December 31, March 31, December 31, 2016 2015 2016 2015 2016 2015 Industrial operating properties: Improved land - - - - - - - - $ 5,906,579 $ 5,874,052 Buildings and improvements 337,017 333,830 1,853 1,872 17,882,021 17,861,693 Development portfolio, including land costs: Prestabilized 11,680 12,598 24 28 826,073 918,099 Properties under development 17,720 19,630 65 63 1,097,289 954,804 Land 7,175 7,404 - - - - 1,341,600 1,359,794 Other real estate investments (2) 575,118 552,926 Total investments in real estate properties 27,628,680 27,521,368 Less accumulated depreciation 3,424,143 3,274,284 Net investments in real estate properties $ 24,204,537 $ 24,247,084 (1) Items indicated by ‘- -‘ are not applicable. (2) Included in other real estate investments are: (i) certain non-industrial real estate; (ii) land parcels that are ground leased to third parties; (iii) our corporate office buildings; (iv) earnest money deposits associated with potential acquisitions; (v) infrastructure costs related to projects we are developing on behalf of others; and (vi) costs related to future development projects, including purchase options on land. Dispositions The following table summarizes our real estate disposition activity for the three months ended March 31 (dollars and square feet in thousands): 2016 2015 Contributions to unconsolidated co-investment ventures Number of properties 5 3 Square feet 2,711 507 Net proceeds $ 397,895 $ 29,068 Net gains on contributions $ 93,139 $ 2,358 Dispositions to third parties Number of properties 27 34 Square feet 2,244 2,693 Net proceeds (1) $ 280,579 $ 495,629 Net gains on dispositions (1) $ 51,178 $ 275,357 (1) Dispositions to third parties include land sales.

Unconsolidated Entities

Unconsolidated Entities	3 Months Ended
	Mar. 31, 2016
Equity Method Investments And Joint Ventures [Abstract]
Unconsolidated Entities	NOTE 4. UNCONSOLIDATED ENTITIES Summary of Investments We have investments in entities through a variety of ventures. We co-invest in entities that own multiple properties with partners and investors and provide asset and property management services to these entities, which we refer to as co-investment ventures. These entities may be consolidated or unconsolidated, depending on the structure, our partner’s participation and other rights and our level of control of the entity. This note details our investments in unconsolidated co-investment ventures, which are accounted for using the equity method of accounting. See Note 8 for more detail regarding our consolidated investments. We also have other ventures, generally with one partner and that we do not manage, which we account for using the equity method. We refer to our investments in all entities accounted for using the equity method, both unconsolidated co-investment ventures and other ventures, collectively, as unconsolidated entities. The following table summarizes our investments in and advances to our unconsolidated entities (in thousands): March 31, December 31, 2016 2015 Unconsolidated co-investment ventures $ 4,711,977 $ 4,585,427 Other ventures 154,687 170,193 Totals $ 4,866,664 $ 4,755,620 Unconsolidated Co-Investment Ventures The amounts recognized in Strategic Capital Revenue Earnings from Unconsolidated Entities, Net Strategic Capital Expenses In April 2016, we redeemed a portion of our investment in Prologis Targeted European Logistics Fund (“PTELF”) and Prologis Targeted U.S. Logistics Fund (“USLF”) for €185.0 million ($210.6 million at March 31, 2016) and $200.0 million, respectively. Also in April 2016, PTELF received an additional €120.0 million from third-party investors. As a result of these transactions, our ownership decreased to 27.9% and 17.6% in PTELF and USLF, respectively. The following tables summarize these unconsolidated co-investment ventures: March 31, December 31, March 31, (dollars and square feet in millions) 2016 2015 2015 U.S.: Number of ventures 1 1 1 Number of properties owned 381 391 393 Square feet 50 50 51 Total assets $ 4,382 $ 4,408 $ 4,326 Third-party debt $ 1,447 $ 1,433 $ 1,579 Total liabilities $ 1,528 $ 1,550 $ 1,659 Our investment balance (1) $ 688 $ 690 $ 705 Our weighted average ownership (2) 22.5 % 22.5 % 24.4 % Other Americas: Number of ventures 2 2 2 Number of properties owned 206 205 199 Square feet 39 39 37 Total assets $ 2,600 $ 2,482 $ 2,563 Third-party debt $ 659 $ 657 $ 676 Total liabilities $ 756 $ 708 $ 727 Our investment balance (1) $ 817 $ 786 $ 797 Our weighted average ownership (2) 43.7 % 43.8 % 43.3 % Europe: Number of ventures 4 4 4 Number of properties owned 688 688 655 Square feet 159 159 150 Total assets $ 11,538 $ 11,343 $ 10,480 Third-party debt $ 2,511 $ 2,640 $ 2,371 Total liabilities $ 3,448 $ 3,584 $ 3,196 Our investment balance (1) $ 2,759 $ 2,707 $ 2,531 Our weighted average ownership (2) 38.5 % 38.9 % 38.7 % Asia: Number of ventures 2 2 2 Number of properties owned 73 66 53 Square feet 32 29 26 Total assets $ 4,911 $ 4,320 $ 4,130 Third-party debt $ 1,779 $ 1,520 $ 1,671 Total liabilities $ 2,023 $ 1,751 $ 1,850 Our investment balance (1) $ 448 $ 402 $ 349 Our weighted average ownership (2) 15.0 % 15.0 % 15.0 % Total: Number of ventures 9 9 9 Number of properties owned 1,348 1,350 1,300 Square feet 280 277 264 Total assets $ 23,431 $ 22,553 $ 21,499 Third-party debt $ 6,396 $ 6,250 $ 6,297 Total liabilities $ 7,755 $ 7,593 $ 7,432 Our investment balance (1) $ 4,712 $ 4,585 $ 4,382 Our weighted average ownership (2) 31.1 % 31.6 % 31.8 % Three Months Ended March 31, (in thousands) 2016 2015 U.S.: Revenues $ 97,961 $ 93,545 Net operating income (3) $ 68,294 $ 63,971 Net earnings $ 30,575 $ 2,032 Other Americas: Revenues $ 56,414 $ 56,469 Net operating income (3) $ 48,833 $ 48,112 Net earnings $ 13,898 $ 13,868 Europe: Revenues $ 244,319 $ 234,713 Net operating income (3) $ 188,977 $ 180,832 Net earnings $ 72,832 $ 50,959 Asia: Revenues $ 75,850 $ 67,918 Net operating income (3) $ 59,264 $ 53,234 Net earnings $ 22,076 $ 23,390 Total: Revenues $ 474,544 $ 452,645 Net operating income (3) $ 365,368 $ 346,149 Net earnings $ 139,381 $ 90,249 (1) The difference between our ownership interest of a venture’s equity and our investment balance, at March 31, 2016 and December 31, 2015, results principally from three types of transactions: (i) deferring a portion of the gains we recognize from a contribution of a property to a venture ($445.9 million and $430.7 million, respectively); (ii) recording additional costs associated with our investment in a venture ($123.9 million and $122.1 million, respectively); and (iii) advances to a venture ($144.1 million and $189.7 million, respectively). Included in the advances to our ventures at March 31, 2016 and December 31, 2015 were receivables from Nippon Prologis REIT, Inc. (“NPR”) of $98.6 million and $85.2 million, respectively, related to customer security deposits that originated through a leasing company owned by us that pertain to properties owned by NPR. We have a corresponding payable to NPR’s customers in Other Liabilities. (2) Represents our weighted average ownership interest in all co-investment ventures based on each entity’s contribution of total assets, before depreciation, net of other liabilities. (3) Net operating income represents rental revenues less rental expenses. The following table summarizes the amounts we recognized in the Consolidated Statements of Income as our share of the earnings from our investments in unconsolidated co-investment ventures (in thousands): Three Months Ended March 31, 2016 2015 Earnings from unconsolidated co-investment ventures, net: U.S. $ 6,659 $ 292 Other Americas 5,299 4,506 Europe 31,579 21,508 Asia 3,655 3,930 Total earnings from unconsolidated co-investment ventures, net $ 47,192 $ 30,236 Strategic capital revenue and other revenue: U.S. $ 8,995 $ 8,560 Other Americas 5,365 5,801 Europe 22,019 18,393 Asia 12,599 8,549 Total strategic capital revenue 48,978 41,303 Development management and other revenue 1,561 1,640 Total strategic capital revenue and other revenue $ 50,539 $ 42,943 Equity Commitments Related to Certain Unconsolidated Co-Investment Ventures The following table summarizes the remaining equity commitments at March 31, 2016 (in millions): Equity Commitments Expiration Date for Remaining Commitments Prologis Venture Partners Total Prologis Targeted U.S. Logistics Fund $ - $ 352 $ 352 2016 - 2017 Prologis Targeted Europe Logistics Fund (1) - 543 543 2016 - 2017 Prologis China Logistics Venture (2) 303 1,714 2,017 2016 and 2017 Totals $ 303 $ 2,609 $ 2,912 (1) Equity commitments are denominated in euro and reported in U.S. dollars based on an exchange rate of $1.14 U.S. dollars to the euro. (2) In January 2016, we reached an agreement with our partner in this venture to increase the equity commitments by $882.4 million, of which our share is $132.4 million, to fund future developments in China. During the first quarter of 2016, we satisfied our remaining commitment to Prologis European Logistics Partners with the contribution of $46.9 million for the repayment of third-party debt by the venture.

Assets Held for Sale or Contrib

Assets Held for Sale or Contribution	3 Months Ended
	Mar. 31, 2016
Real Estate Assets Held For Development And Sale [Abstract]
Assets Held for Sale or Contribution	NOTE 5. ASSETS HELD FOR SALE OR CONTRIBUTION We have classified our investments in certain real estate properties that met the criteria to be classified as Assets Held for Sale or Contribution Assets held for sale or contribution consisted of the following (dollars and square feet in thousands): March 31, December 31, 2016 2015 Number of operating properties 33 17 Square feet 6,444 5,065 Total assets held for sale or contribution $ 431,332 $ 378,423 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 6,174 $ 6,874

Notes Receivable Backed by Real

Notes Receivable Backed by Real Estate	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Notes Receivable Backed by Real Estate	NOTE 6. NOTES RECEIVABLE BACKED BY REAL ESTATE In February 2016, a $197.5 million note backed by real estate and all of the accrued interest was paid in full. The note was received in the first quarter of 2015 in connection with the disposition of real estate to a third party. In December 2015, we received other notes backed by real estate of $37.6 million in connection with the disposition of real estate to third parties. We earn interest on the notes at annual rates ranging from 5.5% to 10.0%. The notes have maturity dates ranging from June 2016 to April 2017.

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt	NOTE 7. DEBT All debt is incurred by the Operating Partnership. The Parent does not have any indebtedness, but guarantees the unsecured debt of the Operating Partnership. The following table summarizes our debt (dollars in thousands): March 31, 2016 December 31, 2015 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding Credit facilities 1.5 % $ 306,775 - $ - Senior notes 3.3 % 6,682,221 3.3 % 6,516,392 Term loans 1.8 % 1,882,382 2.1 % 2,100,009 Other debt 6.2 % 15,437 6.2 % 15,448 Secured mortgage debt 6.0 % 987,826 5.1 % 1,172,473 Secured mortgage debt of consolidated entities 2.9 % 1,812,530 2.9 % 1,822,509 Totals 3.2 % $ 11,687,171 3.2 % $ 11,626,831 (1) The interest rates presented represent the effective interest rates (including amortization of debt issuance costs and the noncash premiums or discounts) at the end of the period for debt outstanding. (2) Included in the outstanding balances are borrowings denominated in non-U.S. dollars, principally: euro ($3.6 billion), Japanese yen ($1.1 billion) and Canadian dollars ($455.0 million). Credit Facilities We have a global senior credit facility (the “Global Facility”), under which we may draw in U.S. dollars, euro, Japanese yen, British pounds sterling and Canadian dollars on a revolving basis up to $2.3 billion at March 31, 2016, subject to currency fluctuations. We also have a ¥45 billion ($400.6 million at March 31, 2016) Japanese yen revolver (the “Revolver”) with availability to increase to ¥56.5 billion. We refer to the Global Facility and the Revolver, collectively, as our “Credit Facilities.” The following table summarizes information about our Credit Facilities at March 31, 2016 (in millions): Aggregate lender commitments $ 2,749 Less: Borrowings outstanding 307 Outstanding letters of credit 26 Current availability $ 2,416 In April 2016, we amended the Global Facility, under which we may draw the aforementioned currencies on a revolving basis up to $3.0 billion, subject to currency fluctuations. The amended Global Facility is scheduled to mature in April 2020; however, we may extend the maturity date for six months on two occasions, subject to payment of extension fees. Term Loans In March 2016, we entered into an unsecured senior term loan agreement (the “2016 Yen Term Loan”) under which we can draw in Japanese yen in an aggregate amount not to exceed ¥11.2 billion ($99.6 million at March 31, 2016). The 2016 Yen Term Loan bears interest at LIBOR plus 1.10% and is scheduled to mature in March 2017. We borrowed $99.6 million, causing the Yen Term Loan to be fully drawn at March 31, 2016. Long-Term Debt Maturities Principal payments due on our debt, for the remainder of 2016 and for each of the years in the period ending December 31, 2025, and thereafter were as follows at March 31, 2016 (in millions): Prologis Unsecured Credit Senior Term Loans and Secured Mortgage Consolidated Entities’ Total Consolidated Maturity Facilities Notes Other Debt Debt Total Debt Debt 2016 (1) $ - $ - $ 1 $ 168 $ 169 $ 168 $ 337 2017 (2) 307 - 662 8 977 515 1,492 2018 - 175 1 167 343 403 746 2019 - 618 1 303 922 143 1,065 2020 - 885 1 6 892 252 1,144 2021 - 1,297 365 14 1,676 128 1,804 2022 - 797 579 10 1,386 1 1,387 2023 - 850 288 33 1,171 142 1,313 2024 - 797 1 132 930 1 931 2025 - 750 1 139 890 1 891 Thereafter - 569 7 - 576 2 578 Subtotal 307 6,738 1,907 980 9,932 1,756 11,688 Unamortized premiums (discounts), net - (23 ) - 12 (11 ) 60 49 Unamortized debt issuance costs, net - (33 ) (9 ) (4 ) (46 ) (4 ) (50 ) Totals $ 307 $ 6,682 $ 1,898 $ 988 $ 9,875 $ 1,812 $ 11,687 (1) We expect to repay the amounts maturing in 2016 with cash generated from operations, proceeds from the dispositions of wholly owned real estate properties or, as necessary, with borrowings on our Credit Facilities. (2) Included in the 2017 maturities is the Global Facility that was amended in April 2016 and now matures in 2020 and a term loan that can be extended until 2019. Exchangeable Senior Notes During March 2015, the holders of exchangeable notes exchanged $459.8 million of their notes for 11.9 million shares of common stock of the Parent and $0.2 million of their notes for cash. When the debt was exchanged into common stock, the value of the derivative associated with the debt was reclassified to Additional Paid-In Capital Debt Covenants We have approximately $6.6 billion of senior notes and $1.9 billion of term loans outstanding at March 31, 2016, that were issued under three separate indentures, as supplemented, and are subject to certain financial covenants. We are also subject to financial covenants under our Credit Facilities and certain secured mortgage debt. At March 31, 2016, we were in compliance with all covenants.

Noncontrolling Interests

Noncontrolling Interests	3 Months Ended
	Mar. 31, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interests	NOTE 8. 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 exchangeable into shares of the Parent’s common stock (or cash), generally at a rate of one share of common stock to one unit. We also consolidate several entities in which we do not own 100% of the equity and the units of the entity are not exchangeable into our common stock. As discussed in Note 1, the Parent has complete responsibility, power and discretion in the day-to-day management of the Operating Partnership. The Parent, through its majority interest, has the right to receive benefits from and incur losses of the Operating Partnership. In addition, the Operating Partnership does not have either substantive liquidation rights or substantive kick-out rights without cause or substantive participating rights that could be exercised by a simple majority of noncontrolling interests. The absence of such rights renders the Operating Partnership as a VIE. Accordingly, the Parent is the primary beneficiary of and consolidates the Operating Partnership. Prologis, Inc. The noncontrolling interests of the Parent include the noncontrolling interests presented in the Operating Partnership, as well as the common limited partnership units in the Operating Partnership that are not owned by the Parent. The following table summarizes our noncontrolling interests and the consolidated entity’s total assets and total liabilities at March 31, 2016, and December 31, 2015 (dollars and units in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities 2016 2015 2016 2015 2016 2015 2016 2015 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 2,621,183 $ 2,677,642 $ 6,646,160 $ 6,788,968 $ 825,656 $ 847,084 Prologis North American Industrial Fund (1) 66.1 % 66.1 % 489,727 490,444 2,597,338 2,619,241 1,157,999 1,165,617 Prologis Brazil Logistics Partners Fund I (1) (2) 50.0 % 50.0 % 52,547 49,313 112,766 100,836 225 192 Other consolidated entities (3) various various 100,631 102,828 967,408 985,188 45,851 42,811 Prologis, L.P. noncontrolling interests 3,264,088 3,320,227 10,323,672 10,494,233 2,029,731 2,055,704 Limited partners in Prologis, L.P. (4) (5) 443,875 432,674 - - - - Prologis, Inc. noncontrolling interests $ 3,707,963 $ 3,752,901 $ 10,323,672 $ 10,494,233 $ 2,029,731 $ 2,055,704 (1) These ventures are considered VIE’s under the new consolidation guidance discussed in Note 1. Based on our evaluation, the noncontrolling interests in these ventures do not hold substantive participating or kick-out rights and therefore as a group they lack the power to direct the significant activities of these ventures that most significantly impact the venture’s economic performance. We have both the power to direct the significant activities and the obligation to absorb losses and the rights to receive benefits from these ventures. As a result, we are the primary beneficiary of both ventures and consistent with prior reporting periods, we consolidate each venture within our financial statements. (2) The assets of Prologis Brazil Logistics Partners Fund I (“Brazil Fund”) are primarily investments in unconsolidated entities of $108.4 million and $103.1 million at March 31, 2016, and December 31, 2015, respectively. For additional information on our unconsolidated investments, see Note 4. (3) This line item includes our two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. At March 31, 2016, and December 31, 2015, limited partnership units were exchangeable into cash or, at our option, 1,835 shares of the Parent’s common stock. All of these 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. (4) At March 31, 2016, and December 31, 2015, we had 8.9 million Class A Units that were convertible into 8.8 million common limited partnership units of the Operating Partnership. (5) At March 31, 2016, and December 31, 2015, excluding the Class A Units, there were common limited partnership units in the Operating Partnership that were exchangeable into cash or, at our option, 6.4 million shares of the Parent’s common stock with a fair value of $284.1 million and $275.0 million, respectively, based on the closing stock price of the Parent’s common stock. At March 31, 2016, and December 31, 2015, there were 2.0 million and 1.2 million LTIP Units (as defined in Note 9) outstanding, respectively, associated with our long-term compensation plan that are exchangeable into common units of the Operating Partnership and redeemable into the Parent’s common stock after they vest and other applicable conditions are met. All of these outstanding limited partnership units receive quarterly cash distributions equal to the quarterly distributions paid on our common stock pursuant to the terms of the partnership agreement.

Long-Term Compensation

Long-Term Compensation	3 Months Ended
	Mar. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Long-Term Compensation	NOTE 9. LONG-TERM COMPENSATION Prologis Outperformance Plan (“POP” formerly “OPP”) We may grant points under our POP with a fair value at the date of grant using a Monte Carlo valuation model that assumes a risk free interest rate and an expected volatility. Such points relate to a three-year performance period. At March 31, 2016, we have POP points outstanding for the 2014 – 2016 and 2015 – 2017 performance periods under the POP. Prologis Promote Plan (“PPP”) In March 2016, we granted approximately 53 thousand RSUs with a grant date fair value of $2.3 million associated with the promotes earned in the fourth quarter of 2015. Restricted Stock Units (“RSUs”) The following table summarizes the activity for RSUs for the three months ended March 31, 2016 (units in thousands): Number of Weighted Average Number of RSUs Grant-Date Fair Value RSUs Vested Balance at January 1, 2016 1,626 $ 42.21 109 Granted 773 Vested and distributed (757 ) Forfeited (20 ) Balance at March 31, 2016 1,622 $ 40.26 107 Operating Partnership Long-Term Incentive Plan Units (“LTIP Units”) The following table summarizes the activity for LTIP Units for the three months ended March 31, 2016 (units in thousands): Number of Weighted Average Number of LTIP Units Grant-Date Fair Value LTIP Units Vested Balance at January 1, 2016 1,244 $ 42.21 303 Granted 779 Balance at March 31, 2016 2,023 $ 40.33 691 Prologis Outperformance Plan Operating Partnership Long-Term Incentive Plan Units (“POP LTIP Units” formerly “OPP LTIP Units”) At March 31, 2016, 2.5 million POP LTIP Units were outstanding with respect to the 2014 – 2016 and 2015 – 2017 performance periods. The following table summarizes the activity for the POP LTIP Units for the three months ended March 31, 2016 (units in thousands): Number of POP LTIP Units Balance at January 1, 2016 3,464 Forfeited (927 ) Balance at March 31, 2016 2,537 Stock Options We have 3.9 million stock options outstanding and exercisable at March 31, 2016, with a weighted average exercise price of $32.78. No stock options were granted in 2016 or 2015.

Earnings Per Common Share or Un

Earnings Per Common Share or Unit	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Common Share or Unit	NOTE 10. EARNINGS PER COMMON SHARE OR UNIT We determine basic earnings per share or unit based on the weighted average number of shares of common stock or units outstanding during the period. We compute diluted earnings per share or unit based on the weighted average number of shares or units outstanding combined with the incremental weighted average effect from all outstanding potentially dilutive instruments. The computation of our basic and diluted earnings per share and unit (in thousands, except per share and unit amounts) is as follows: Three Months Ended March 31, Prologis, Inc. 2016 2015 Net earnings attributable to common stockholders – Basic $ 208,041 $ 345,206 Net earnings attributable to exchangeable limited partnership units (1) 6,609 1,650 Gains, net of expenses, associated with exchangeable debt assumed exchanged (2) - (1,614 ) Adjusted net earnings attributable to common stockholders – Diluted $ 214,650 $ 345,242 Weighted average common shares outstanding – Basic (3) 524,205 514,022 Incremental weighted average effect on exchange of limited partnership units (1) 17,543 3,794 Incremental weighted average effect of equity awards 1,814 2,394 Incremental weighted average effect on exchangeable debt assumed exchanged (2) - 8,812 Weighted average common shares outstanding – Diluted (4) 543,562 529,022 Net earnings per share attributable to common stockholders: Basic $ 0.40 $ 0.67 Diluted $ 0.39 $ 0.65 Three Months Ended March 31, Prologis, L.P. 2016 2015 Net earnings attributable to common unitholders $ 214,275 $ 346,488 Net earnings attributable to Class A convertible common unitholders (3,510 ) - Net earnings attributable to common unitholders – Basic $ 210,765 $ 346,488 Net earnings attributable to Class A convertible common unitholders 3,510 - Net earnings attributable to exchangeable limited partnership units 375 368 Gains, net of expenses, associated with exchangeable debt assumed exchanged (2) - (1,614 ) Adjusted net earnings attributable to common unitholders – Diluted $ 214,650 $ 345,242 Weighted average common partnership units outstanding – Basic (3) 531,070 515,931 Incremental weighted average effect on exchange of Class A convertible units 8,844 - Incremental weighted average effect on exchange of limited partnership units 1,834 1,885 Incremental weighted average effect of equity awards of Prologis, Inc. 1,814 2,394 Incremental weighted average effect on exchangeable debt assumed exchanged (2) - 8,812 Weighted average common partnership units outstanding – Diluted (4) 543,562 529,022 Net earnings per unit attributable to common unitholders: Basic $ 0.40 $ 0.67 Diluted $ 0.39 $ 0.65 (1) Earnings allocated to the exchangeable Operating Partnership units not held by the Parent has been included in the numerator and exchangeable Operating Partnership 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) In March 2015, we had exchangeable debt that was settled primarily through the issuance of common stock. The adjustment in 2015 assumes the exchange occurred on January 1, 2015. (3) The increase in shares and units between the periods is primarily due the at-the-market program activity in early 2015 and the conversion of exchangeable debt to shares and units in March 2015. (4) Our total potentially dilutive shares and units outstanding consisted of the following: Three Months Ended March 31, 2016 2015 Total weighted average potentially dilutive limited partnership units 10,678 1,885 Total potentially dilutive stock awards 6,565 7,391 Total weighted average potentially dilutive shares and units from exchangeable debt - 8,812 Total Prologis, L.P. 17,243 18,088 Limited partners in Prologis, L.P. 6,865 1,909 Total Prologis, Inc. 24,108 19,997

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Financial Instruments and Fair Value Measurements	NOTE 11. FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Derivative Financial Instruments In the normal course of business, our operations are exposed to global market risks, including the effect of changes in foreign currency exchange rates and interest rates. To manage these risks, we may enter into various derivative contracts, such as foreign currency contracts to manage foreign currency exposure, and interest rate swaps to manage the effect of interest rate fluctuations. We do not use derivative financial instruments for trading or speculative purposes. All of our derivative financial instruments are customized derivative transactions and are not exchange-traded. Management reviews our hedging program, derivative positions and overall risk management strategy on a regular basis. We enter into only those transactions we believe will be highly effective at offsetting the underlying risk. There have been no significant changes in our policy or strategy from what was disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015. The following table presents the fair value and location of our derivative instruments (in thousands): March 31, 2016 December 31, 2015 Asset Liability Asset Liability Net investment hedges – Canadian dollar denominated $ - $ 2,183 $ - $ - Net investment hedges – pound sterling denominated 42,301 - 33,471 - Cash flow hedge foreign currency options – peso denominated - 64 - 88 Foreign currency options – Canadian dollar denominated (1) 1,203 676 3,324 - Foreign currency options – euro denominated (1) 840 7,045 11,711 84 Foreign currency options – pound sterling denominated (1) 8,431 - 4,241 745 Foreign currency options – yen denominated (1) 149 6,011 832 717 Interest rate hedges - 30,994 - 12,095 Total fair value of derivatives $ 52,924 $ 46,973 $ 53,579 $ 13,729 (1) As discussed above, these foreign currency options are not designated as hedges. We recognized losses of $16.8 million and gains of $20.1 million in Foreign Currency and Derivative Gains and (Losses) and Related Amortization, Net Foreign Currency We primarily manage our foreign currency exposure by borrowing in the currencies in which we invest. We may issue debt in a currency that is not the same functional currency of the borrowing entity to offset the translation and economic exposures related to our net investment in international subsidiaries. To mitigate the impact of the translation from the fluctuations in exchange rates, we may designate this debt as a nonderivative financial instrument hedge. We also hedge our investments in certain international subsidiaries using foreign currency derivative contracts (net investment hedges) to offset the translation and economic exposures related to our investments in these subsidiaries by locking in a forward exchange rate at the inception of the hedge. To the extent we have an effective hedging relationship, we report all changes in fair value of the hedged portion of the nonderivative financial instruments and net investment hedges in equity in the foreign currency translation component of Accumulated Other Comprehensive Loss (“AOCI” ) AOCI Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net We may use foreign currency option contracts, including puts, calls and collars to mitigate foreign currency exchange rate risk associated with the translation of our projected net operating income of our international subsidiaries. These are not designated as hedges as they do not meet hedge accounting requirements. Changes in the fair value of non-hedge designated derivatives are recorded directly in earnings within the line item Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net AOCI The following tables summarize the activity in our foreign currency contracts for the three months ended March 31 (in millions, except for weighted average forward rates and number of active contracts): 2016 Foreign Currency Contracts Local Currency Net Investment Forward Contracts Forward and Option Contracts GBP JPY CAD EUR (1) GBP (1) (2) JPY (1) Other (1) Notional amounts at January 1 £ 238 ¥ - $ - € 275 £ 97 ¥ 12,840 New contracts - 11,189 133 60 - 4,000 Matured or expired contracts - (11,189 ) - (45 ) (12 ) (1,460 ) Notional amounts at March 31 £ 238 ¥ - $ 133 € 290 £ 85 ¥ 15,380 Foreign Currency Contracts U.S. Dollar Net Investment Forward Contracts Forward and Option Contracts Notional amounts at January 1 $ 386 $ - $ - $ 310 $ 148 $ 109 $ 50 New contracts - 99 100 68 - 36 9 Matured or expired contracts - (99 ) - (51 ) (18 ) (13 ) (8 ) Notional amounts at March 31 $ 386 $ - $ 100 $ 327 $ 130 $ 132 $ 51 Weighted average forward rate at March 31 1.62 - 1.33 1.13 1.53 116.35 - Active contracts at March 31 3 - 2 21 14 22 20 2015 Foreign Currency Contracts Local Currency Net Investment Forward Contracts Forward and Option Contracts (1) EUR GBP JPY EUR GBP JPY Notional amounts at January 1 € 300 £ 238 ¥ 24,136 € 284 £ - ¥ - New contracts - - - 198 126 12,740 Matured or expired contracts - - - (217 ) (7 ) (1,200 ) Notional amounts at March 31 € 300 £ 238 ¥ 24,136 € 265 £ 119 ¥ 11,540 Foreign Currency Contracts U.S. Dollar Net Investment Forward Contracts Forward and Option Contracts (1) Notional amounts at January 1 $ 400 $ 400 $ 250 $ 354 $ - $ - New contracts - - - 224 188 109 Matured or expired contracts - - - (265 ) (11 ) (10 ) Notional amounts at March 31 $ 400 $ 400 $ 250 $ 313 $ 177 $ 99 (1) During the three months ended March 31, 2016, and 2015, we exercised eight and six option contracts and realized gains of $1.7 million and $2.2 million, respectively, in Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net. (2) Included in our British pounds sterling denominated option contracts are two forward contracts to sell British pounds sterling and buy euros. These forwards have a notional amount of £11.0 million (€14.8 million) and were reported in this table using a weighted average exchange rate of $1.09 U.S. dollars to the euro. Interest Rate We may enter into interest rate swap agreements, which allow us to borrow on a fixed rate basis for longer-term debt issuances, or interest rate cap agreements, which allow us to minimize the impact of increases in interest rates. We may also enter into interest rate swap agreements that allow us to receive variable-rate amounts from a counterparty in exchange for us making fixed-rate payments over the life of our agreements without the exchange of the underlying notional amount. We report the effective portion of the gain or loss on the derivative as a component of AOCI Interest Expense AOCI Gains (Losses) on Early Extinguishment of Debt, Net Interest Expense At March 31, 2016 and December 31, 2015, we had seven interest rate swaps outstanding with a notional amount of $1.4 billion. We did not enter into or settle any interest rate swaps during the three months ended March 31, 2016, and 2015. In January 2016, the Bank of Japan introduced negative interest rates. As a result, our two Japanese yen denominated interest rate hedges related to the 2015 Japan term loan no longer qualified for hedge accounting due to a zero percent floor mismatch in the hedging relationship. These interest rate hedges were designated as cash flow hedges at December 31, 2015, and the change in fair value was recorded in Other Comprehensive Income Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net. Other Comprehensive Income The change in Other Comprehensive Income The following table presents the gains and (losses) associated with the change in fair value for the effective portion of our derivative and nonderivative hedging instruments included in Other Comprehensive Income Three Months Ended March 31, 2016 2015 Derivative net investment hedges (1) $ 7,908 $ 63,178 Interest rate hedges (2) (11,118 ) 1,582 Cash flow hedges (3 ) - Our share of derivatives from unconsolidated co-investment ventures (4,771 ) 2,227 Total derivative instruments (7,984 ) 66,987 Nonderivative net investment hedges (3) (161,189 ) 330,114 Total derivative and nonderivative hedging instruments $ (169,173 ) $ 397,101 (1) We received $0.9 million and $1.5 million for the three months ended March 31, 2016, and 2015, respectively, upon the settlement of net investment hedges. (2) The amounts reclassified to interest expense for three months ended March 31, 2016, were $1.0 million. The amounts reclassified to interest expense for the three months ended March 31, 2015, were not considered significant. For the next 12 months from March 31, 2016, we estimate an additional expense for $5.9 million will be reclassified to Interest Expense (3) At March 31, 2016, and December 31, 2015, we had €3.2 billion ($3.6 billion) and €3.2 billion ($3.5 billion) of debt, net of accrued interest, respectively, designated as nonderivative financial instrument hedges of our net investment in international subsidiaries. We recognized unrealized gains of $15.4 million in Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net Fair Value Measurements We have estimated the fair value of our financial instruments using available market information and valuation methodologies we believe to be appropriate for these purposes. Considerable judgment and a high degree of subjectivity are involved in developing these estimates and, accordingly, they are not necessarily indicative of amounts that we would realize on disposition. There have been no significant changes in our policy or strategy from what was disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015. Fair Value Measurements on a Recurring Basis At March 31, 2016, and December 31, 2015, other than the derivatives discussed previously, we did not have any significant financial assets or financial liabilities that were measured at fair value on a recurring basis in the Consolidated Financial Statements. All of our derivatives held at March 31, 2016, and December 31, 2015, were classified as Level 2 of the fair value hierarchy. Fair Value Measurements on Nonrecurring Basis No assets met the criteria to be measured at fair value on a nonrecurring basis at March 31, 2016, or December 31, 2015. Fair Value of Financial Instruments At March 31, 2016, and December 31, 2015, the carrying amounts of certain financial instruments, including cash and cash equivalents, restricted cash, accounts and notes receivable, accounts payable and accrued expenses were representative of their fair values because of the short-term nature of these instruments. The differences in the fair value of our debt from the carrying value in the table below are the result of differences in interest rates or borrowing spreads that were available to us at March 31, 2016, and December 31, 2015, as compared with those in effect when the debt was issued or assumed, including reduced borrowing spreads due to our improved credit ratings. The senior notes and many of the issues of secured mortgage debt contain pre-payment penalties or yield maintenance provisions that could make the cost of refinancing the debt at lower rates exceed the benefit that would be derived from doing so. The following table reflects the carrying amounts and estimated fair values of our debt (in thousands): March 31, 2016 December 31, 2015 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 306,775 $ 307,012 $ - $ - Senior notes 6,682,221 7,183,290 6,516,392 6,801,118 Term loans and other debt 1,897,819 1,910,292 2,115,457 2,128,270 Secured mortgage debt 987,826 1,080,954 1,172,473 1,262,778 Secured mortgage debt of consolidated entities 1,812,530 1,821,697 1,822,509 1,825,361 Total debt $ 11,687,171 $ 12,303,245 $ 11,626,831 $ 12,017,527

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Business Segments	NOTE 12. BUSINESS SEGMENTS Our current business strategy consists of two operating segments: Real Estate Operations and Strategic Capital. We generate revenues, earnings, net operating income and cash flows through our segments, as follows: · Real Estate Operations. This operating segment represents the ownership of industrial operating properties and is the largest component of our revenue and earnings. We collect rent from our customers through operating leases, including reimbursements for the majority of our property operating costs. Each operating property is considered to be an individual operating segment with similar economic characteristics; these properties are combined within the reportable segment based on geographic location. Our Real Estate Operations segment also includes development activities that lead to rental operations, including land held for development and properties currently under development. Within this line of business, we capitalize on the following: (i) the land that we currently own; (ii) the development expertise of our local teams; (iii) our global customer relationships; and (iv) our in-depth knowledge of global demand for high-quality logistics facilities. Land we own and lease to customers under ground leases is also included in this segment. · Strategic Capital. This operating segment represents the management of unconsolidated co-investment ventures. We generate strategic capital revenues from our unconsolidated co-investment ventures through asset management and property management services and we earn additional revenues by providing leasing, acquisition, construction, development, financing and disposition services. Depending on the structure of the venture and the returns provided to our partners, we also earn revenues through promotes during the life of a venture or upon liquidation. Each unconsolidated co-investment venture we manage is considered to be an individual operating segment with similar economic characteristics; these ventures are combined within the reportable segment based on geographic location. Reconciliations are presented below for: (i) each reportable business segment’s revenue from external customers to Total Revenues Earnings Before Income Taxes Total Assets Total Revenues, Earnings Before Income Taxes Total Assets Three Months Ended March 31, 2016 2015 Revenues: Real estate operations: U.S. $ 511,157 $ 376,198 Other Americas 13,956 14,432 Europe 16,789 18,769 Asia 14,732 11,423 Total Real Estate Operations segment 556,634 420,822 Strategic capital: U.S. 9,356 9,357 Other Americas 5,365 5,569 Europe 22,269 18,393 Asia 12,676 8,706 Total Strategic Capital segment 49,666 42,025 Total revenues $ 606,300 $ 462,847 Net operating income: Real estate operations: U.S. $ 375,718 $ 259,578 Other Americas 8,214 9,843 Europe 11,619 10,938 Asia 9,817 7,793 Total Real Estate Operations segment 405,368 288,152 Strategic capital: U.S. 1,709 1,580 Other Americas 3,115 2,933 Europe 15,306 11,795 Asia 4,243 535 Total Strategic Capital segment 24,373 16,843 Total segment net operating income 429,741 304,995 Reconciling items: General and administrative expenses, net (50,543 ) (51,306 ) Depreciation and amortization expenses (250,000 ) (169,808 ) Earnings from unconsolidated entities, net 58,311 31,042 Interest expense (80,812 ) (68,761 ) Interest and other income, net 2,591 11,049 Gains on dispositions of investments in real estate, net 144,317 277,715 Foreign currency and derivative gains (losses) and related amortization, net (14,211 ) 34,566 Losses on early extinguishment of debt, net (1,052 ) (16,289 ) Total reconciling items (191,399 ) 48,208 Earnings before income taxes $ 238,342 $ 353,203 March 31, December 31, 2016 2015 Assets: Real estate operations: U.S. $ 21,705,401 $ 22,030,457 Other Americas 1,015,963 919,381 Europe 1,447,446 1,291,991 Asia 1,164,456 1,157,401 Total Real Estate Operations segment 25,333,266 25,399,230 Strategic capital: U.S. 19,046 19,363 Europe 50,673 49,960 Asia 1,947 2,005 Total Strategic Capital segment 71,666 71,328 Total segment assets 25,404,932 25,470,558 Reconciling items: Investments in and advances to unconsolidated entities 4,866,664 4,755,620 Assets held for sale or contribution 431,332 378,423 Notes receivable backed by real estate 37,550 235,050 Cash and cash equivalents 369,737 264,080 Other assets 265,533 291,036 Total reconciling items 5,970,816 5,924,209 Total assets $ 31,375,748 $ 31,394,767

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	NOTE 13. SUPPLEMENTAL CASH FLOW INFORMATION Our significant noncash investing and financing activities for the three months ended March 31, 2016, and 2015 included the following: · We received a note backed by real estate in 2015 that was repaid in 2016 as disclosed in Note 6. · Holders of our exchangeable senior notes exchanged the majority of their notes into common stock of the Parent in 2015 as disclosed in Note 7. · We capitalized $6.2 million and $5.7 million in 2016 and 2015, respectively, of equity-based compensation expense resulting from our development and leasing activities. We paid $117.2 million and $135.9 million of interest in cash, net of amounts capitalized, for the three months ended March 31, 2016, and 2015, respectively. We paid $13.5 million for income taxes, net of refunds, for the three months ended March 31, 2015. The amounts paid in 2016 were not significant.

General (Policies)

General (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation. The accompanying Consolidated Financial Statements are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) and are presented in our reporting currency, the U.S. dollar. All material intercompany transactions with consolidated entities have been eliminated. The accompanying unaudited interim financial information has been prepared according to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in our annual financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations. Our management believes that the disclosures presented in these financial statements are adequate to make the information presented not misleading. In our opinion, all adjustments and eliminations, consisting only of normal recurring adjustments, necessary to present fairly the financial position and results of operations for both the Parent and the Operating Partnership for the reported periods have been included. The results of operations for such interim periods are not necessarily indicative of the results for the full year. The accompanying unaudited interim financial information should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended December 31, 2015, as filed with the SEC, and other public information. Certain amounts included in the accompanying Consolidated Financial Statements for 2015 have been reclassified to conform to the 2016 financial statement presentation.
Recent Accounting Pronouncements	New Accounting Pronouncements. In March 2016, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update that amends the leasing standards in existing GAAP. Under the update, companies that lease assets will be required to recognize on their balance sheets the assets and liabilities for the rights and obligations created by leases with a term greater than 12 months. This will have the effect of recognizing substantially all operating leases on the balance sheet. The accounting for companies that own assets that are leased, such as Prologis, will remain largely unchanged from current GAAP. It is effective for annual reporting periods beginning after December 15, 2018, but early adoption is permitted. We are currently evaluating the impact the adoption of this standard will have on the Consolidated Financial Statements. In February 2015, the FASB issued an accounting standard update that amends the consolidation requirements in existing GAAP. Under the update, all entities, including limited partnerships and similar legal entities, are now within the scope of consolidation guidance, unless a scope exception applies. The presumption that a general partner controls a limited partnership has been eliminated. In addition, fees paid to decision makers that meet certain conditions no longer cause the decision makers to consolidate variable interest entities (“VIEs”). If an entity is determined to be a VIE, it must be consolidated by the primary beneficiary. The primary beneficiary is the enterprise that has the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, absorbs the majority of the entity’s expected losses, or receives a majority of the entity’s expected residual returns. We adopted this standard on a modified retrospective basis on January 1, 2016, and the adoption did not have a material effect on the Consolidated Financial Statements, however the Operating Partnership and certain of our consolidated co-investment ventures now qualify as VIEs under the new guidance, which required additional disclosures. See Note 8 for additional information about our VIEs. In May 2014, the FASB issued an accounting standard update that requires companies to use a five step model to determine when to recognize revenue from customer contracts in an effort to increase consistency and comparability throughout global capital markets and across industries. Under the model, a company will identify the contract, identify any separate performance obligations in the contract, determine the transaction price, allocate the transaction price and recognize revenue when the performance obligation is satisfied. In July 2015, the FASB deferred the effective date by one year to annual reporting periods beginning after December 15, 2017. The FASB also permits early adoption of the standard, but not before the original effective date of December 15, 2016. We are currently evaluating the impact the adoption of this standard will have on the Consolidated Financial Statements.

Business Combination (Tables)

Business Combination (Tables)	3 Months Ended
	Mar. 31, 2016
Business Acquisition [Line Items]
Schedule of Unaudited Pro Forma Financial Information	The following pro forma financial information presents our results as though the KTR acquisition had been completed on January 1, 2014. The pro forma information does not reflect the actual results of operations had the transaction actually been completed on January 1, 2014, and it is not indicative of future operating results. The results for the three months ended March 31, 2015, include three months of pro forma adjustments. The following amounts are in thousands, except per share amounts: Three Months Ended March 31, 2015 Total revenues $ 558,797 Net earnings attributable to common stockholders $ 341,538 Net earnings per share attributable to common stockholders – Basic $ 0.66 Net earnings per share attributable to common stockholders – Diluted $ 0.65
KTR Capital Partners and Affiliates [Member]
Business Acquisition [Line Items]
Allocation of Purchase Price	The allocation of the purchase price was as follows (in thousands): Investments in real estate properties $ 5,440,348 Intangible assets, net of intangible liabilities 332,708 Accounts receivable and other assets 8,414 Debt, including premium (735,172 ) Accounts payable, accrued expenses and other liabilities (55,629 ) Total estimated purchase price 4,990,669 Our venture partner’s share of purchase price (2,253,234 ) Common limited partnership units issued in the Operating Partnership (181,170 ) Prologis share of cash purchase price $ 2,556,265

Real Estate (Tables)

Real Estate (Tables)	3 Months Ended
	Mar. 31, 2016
Real Estate [Abstract]
Investments in Real Estate Properties	Investments in real estate properties consisted of the following (dollars and square feet in thousands): Square Feet and Acres (1) Number of Buildings (1) March 31, December 31, March 31, December 31, March 31, December 31, 2016 2015 2016 2015 2016 2015 Industrial operating properties: Improved land - - - - - - - - $ 5,906,579 $ 5,874,052 Buildings and improvements 337,017 333,830 1,853 1,872 17,882,021 17,861,693 Development portfolio, including land costs: Prestabilized 11,680 12,598 24 28 826,073 918,099 Properties under development 17,720 19,630 65 63 1,097,289 954,804 Land 7,175 7,404 - - - - 1,341,600 1,359,794 Other real estate investments (2) 575,118 552,926 Total investments in real estate properties 27,628,680 27,521,368 Less accumulated depreciation 3,424,143 3,274,284 Net investments in real estate properties $ 24,204,537 $ 24,247,084 (1) Items indicated by ‘- -‘ are not applicable. (2) Included in other real estate investments are: (i) certain non-industrial real estate; (ii) land parcels that are ground leased to third parties; (iii) our corporate office buildings; (iv) earnest money deposits associated with potential acquisitions; (v) infrastructure costs related to projects we are developing on behalf of others; and (vi) costs related to future development projects, including purchase options on land.
Summary of Properties Disposed	The following table summarizes our real estate disposition activity for the three months ended March 31 (dollars and square feet in thousands): 2016 2015 Contributions to unconsolidated co-investment ventures Number of properties 5 3 Square feet 2,711 507 Net proceeds $ 397,895 $ 29,068 Net gains on contributions $ 93,139 $ 2,358 Dispositions to third parties Number of properties 27 34 Square feet 2,244 2,693 Net proceeds (1) $ 280,579 $ 495,629 Net gains on dispositions (1) $ 51,178 $ 275,357 (1) Dispositions to third parties include land sales.

Unconsolidated Entities (Tables

Unconsolidated Entities (Tables)	3 Months Ended
	Mar. 31, 2016
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in and Advances Unconsolidated Entities	The following table summarizes our investments in and advances to our unconsolidated entities (in thousands): March 31, December 31, 2016 2015 Unconsolidated co-investment ventures $ 4,711,977 $ 4,585,427 Other ventures 154,687 170,193 Totals $ 4,866,664 $ 4,755,620
Earnings on Investment in Co-Investment Ventures	The following table summarizes the amounts we recognized in the Consolidated Statements of Income as our share of the earnings from our investments in unconsolidated co-investment ventures (in thousands): Three Months Ended March 31, 2016 2015 Earnings from unconsolidated co-investment ventures, net: U.S. $ 6,659 $ 292 Other Americas 5,299 4,506 Europe 31,579 21,508 Asia 3,655 3,930 Total earnings from unconsolidated co-investment ventures, net $ 47,192 $ 30,236 Strategic capital revenue and other revenue: U.S. $ 8,995 $ 8,560 Other Americas 5,365 5,801 Europe 22,019 18,393 Asia 12,599 8,549 Total strategic capital revenue 48,978 41,303 Development management and other revenue 1,561 1,640 Total strategic capital revenue and other revenue $ 50,539 $ 42,943
Summary of Remaining Equity Commitments	The following table summarizes the remaining equity commitments at March 31, 2016 (in millions): Equity Commitments Expiration Date for Remaining Commitments Prologis Venture Partners Total Prologis Targeted U.S. Logistics Fund $ - $ 352 $ 352 2016 - 2017 Prologis Targeted Europe Logistics Fund (1) - 543 543 2016 - 2017 Prologis China Logistics Venture (2) 303 1,714 2,017 2016 and 2017 Totals $ 303 $ 2,609 $ 2,912 (1) Equity commitments are denominated in euro and reported in U.S. dollars based on an exchange rate of $1.14 U.S. dollars to the euro. (2) In January 2016, we reached an agreement with our partner in this venture to increase the equity commitments by $882.4 million, of which our share is $132.4 million, to fund future developments in China. During the first quarter of 2016, we satisfied our remaining commitment to Prologis European Logistics Partners with the contribution of $46.9 million for the repayment of third-party debt by the venture.
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in and Advances Unconsolidated Entities	The following tables summarize these unconsolidated co-investment ventures: March 31, December 31, March 31, (dollars and square feet in millions) 2016 2015 2015 U.S.: Number of ventures 1 1 1 Number of properties owned 381 391 393 Square feet 50 50 51 Total assets $ 4,382 $ 4,408 $ 4,326 Third-party debt $ 1,447 $ 1,433 $ 1,579 Total liabilities $ 1,528 $ 1,550 $ 1,659 Our investment balance (1) $ 688 $ 690 $ 705 Our weighted average ownership (2) 22.5 % 22.5 % 24.4 % Other Americas: Number of ventures 2 2 2 Number of properties owned 206 205 199 Square feet 39 39 37 Total assets $ 2,600 $ 2,482 $ 2,563 Third-party debt $ 659 $ 657 $ 676 Total liabilities $ 756 $ 708 $ 727 Our investment balance (1) $ 817 $ 786 $ 797 Our weighted average ownership (2) 43.7 % 43.8 % 43.3 % Europe: Number of ventures 4 4 4 Number of properties owned 688 688 655 Square feet 159 159 150 Total assets $ 11,538 $ 11,343 $ 10,480 Third-party debt $ 2,511 $ 2,640 $ 2,371 Total liabilities $ 3,448 $ 3,584 $ 3,196 Our investment balance (1) $ 2,759 $ 2,707 $ 2,531 Our weighted average ownership (2) 38.5 % 38.9 % 38.7 % Asia: Number of ventures 2 2 2 Number of properties owned 73 66 53 Square feet 32 29 26 Total assets $ 4,911 $ 4,320 $ 4,130 Third-party debt $ 1,779 $ 1,520 $ 1,671 Total liabilities $ 2,023 $ 1,751 $ 1,850 Our investment balance (1) $ 448 $ 402 $ 349 Our weighted average ownership (2) 15.0 % 15.0 % 15.0 % Total: Number of ventures 9 9 9 Number of properties owned 1,348 1,350 1,300 Square feet 280 277 264 Total assets $ 23,431 $ 22,553 $ 21,499 Third-party debt $ 6,396 $ 6,250 $ 6,297 Total liabilities $ 7,755 $ 7,593 $ 7,432 Our investment balance (1) $ 4,712 $ 4,585 $ 4,382 Our weighted average ownership (2) 31.1 % 31.6 % 31.8 % Three Months Ended March 31, (in thousands) 2016 2015 U.S.: Revenues $ 97,961 $ 93,545 Net operating income (3) $ 68,294 $ 63,971 Net earnings $ 30,575 $ 2,032 Other Americas: Revenues $ 56,414 $ 56,469 Net operating income (3) $ 48,833 $ 48,112 Net earnings $ 13,898 $ 13,868 Europe: Revenues $ 244,319 $ 234,713 Net operating income (3) $ 188,977 $ 180,832 Net earnings $ 72,832 $ 50,959 Asia: Revenues $ 75,850 $ 67,918 Net operating income (3) $ 59,264 $ 53,234 Net earnings $ 22,076 $ 23,390 Total: Revenues $ 474,544 $ 452,645 Net operating income (3) $ 365,368 $ 346,149 Net earnings $ 139,381 $ 90,249 (1) The difference between our ownership interest of a venture’s equity and our investment balance, at March 31, 2016 and December 31, 2015, results principally from three types of transactions: (i) deferring a portion of the gains we recognize from a contribution of a property to a venture ($445.9 million and $430.7 million, respectively); (ii) recording additional costs associated with our investment in a venture ($123.9 million and $122.1 million, respectively); and (iii) advances to a venture ($144.1 million and $189.7 million, respectively). Included in the advances to our ventures at March 31, 2016 and December 31, 2015 were receivables from Nippon Prologis REIT, Inc. (“NPR”) of $98.6 million and $85.2 million, respectively, related to customer security deposits that originated through a leasing company owned by us that pertain to properties owned by NPR. We have a corresponding payable to NPR’s customers in Other Liabilities. (2) Represents our weighted average ownership interest in all co-investment ventures based on each entity’s contribution of total assets, before depreciation, net of other liabilities. (3) Net operating income represents rental revenues less rental expenses.

Assets Held for Sale or Contr26

Assets Held for Sale or Contribution (Tables)	3 Months Ended
	Mar. 31, 2016
Real Estate Assets Held For Development And Sale [Abstract]
Summary of Assets Held for Sale or Contribution	Assets held for sale or contribution consisted of the following (dollars and square feet in thousands): March 31, December 31, 2016 2015 Number of operating properties 33 17 Square feet 6,444 5,065 Total assets held for sale or contribution $ 431,332 $ 378,423 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 6,174 $ 6,874

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt Summary	The following table summarizes our debt (dollars in thousands): March 31, 2016 December 31, 2015 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding Credit facilities 1.5 % $ 306,775 - $ - Senior notes 3.3 % 6,682,221 3.3 % 6,516,392 Term loans 1.8 % 1,882,382 2.1 % 2,100,009 Other debt 6.2 % 15,437 6.2 % 15,448 Secured mortgage debt 6.0 % 987,826 5.1 % 1,172,473 Secured mortgage debt of consolidated entities 2.9 % 1,812,530 2.9 % 1,822,509 Totals 3.2 % $ 11,687,171 3.2 % $ 11,626,831 (1) The interest rates presented represent the effective interest rates (including amortization of debt issuance costs and the noncash premiums or discounts) at the end of the period for debt outstanding. (2) Included in the outstanding balances are borrowings denominated in non-U.S. dollars, principally: euro ($3.6 billion), Japanese yen ($1.1 billion) and Canadian dollars ($455.0 million).
Credit Facilities	The following table summarizes information about our Credit Facilities at March 31, 2016 (in millions): Aggregate lender commitments $ 2,749 Less: Borrowings outstanding 307 Outstanding letters of credit 26 Current availability $ 2,416
Long-Term Debt Maturities	Principal payments due on our debt, for the remainder of 2016 and for each of the years in the period ending December 31, 2025, and thereafter were as follows at March 31, 2016 (in millions): Prologis Unsecured Credit Senior Term Loans and Secured Mortgage Consolidated Entities’ Total Consolidated Maturity Facilities Notes Other Debt Debt Total Debt Debt 2016 (1) $ - $ - $ 1 $ 168 $ 169 $ 168 $ 337 2017 (2) 307 - 662 8 977 515 1,492 2018 - 175 1 167 343 403 746 2019 - 618 1 303 922 143 1,065 2020 - 885 1 6 892 252 1,144 2021 - 1,297 365 14 1,676 128 1,804 2022 - 797 579 10 1,386 1 1,387 2023 - 850 288 33 1,171 142 1,313 2024 - 797 1 132 930 1 931 2025 - 750 1 139 890 1 891 Thereafter - 569 7 - 576 2 578 Subtotal 307 6,738 1,907 980 9,932 1,756 11,688 Unamortized premiums (discounts), net - (23 ) - 12 (11 ) 60 49 Unamortized debt issuance costs, net - (33 ) (9 ) (4 ) (46 ) (4 ) (50 ) Totals $ 307 $ 6,682 $ 1,898 $ 988 $ 9,875 $ 1,812 $ 11,687 (1) We expect to repay the amounts maturing in 2016 with cash generated from operations, proceeds from the dispositions of wholly owned real estate properties or, as necessary, with borrowings on our Credit Facilities. (2) Included in the 2017 maturities is the Global Facility that was amended in April 2016 and now matures in 2020 and a term loan that can be extended until 2019.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interests Summary	The following table summarizes our noncontrolling interests and the consolidated entity’s total assets and total liabilities at March 31, 2016, and December 31, 2015 (dollars and units in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities 2016 2015 2016 2015 2016 2015 2016 2015 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 2,621,183 $ 2,677,642 $ 6,646,160 $ 6,788,968 $ 825,656 $ 847,084 Prologis North American Industrial Fund (1) 66.1 % 66.1 % 489,727 490,444 2,597,338 2,619,241 1,157,999 1,165,617 Prologis Brazil Logistics Partners Fund I (1) (2) 50.0 % 50.0 % 52,547 49,313 112,766 100,836 225 192 Other consolidated entities (3) various various 100,631 102,828 967,408 985,188 45,851 42,811 Prologis, L.P. noncontrolling interests 3,264,088 3,320,227 10,323,672 10,494,233 2,029,731 2,055,704 Limited partners in Prologis, L.P. (4) (5) 443,875 432,674 - - - - Prologis, Inc. noncontrolling interests $ 3,707,963 $ 3,752,901 $ 10,323,672 $ 10,494,233 $ 2,029,731 $ 2,055,704 (1) These ventures are considered VIE’s under the new consolidation guidance discussed in Note 1. Based on our evaluation, the noncontrolling interests in these ventures do not hold substantive participating or kick-out rights and therefore as a group they lack the power to direct the significant activities of these ventures that most significantly impact the venture’s economic performance. We have both the power to direct the significant activities and the obligation to absorb losses and the rights to receive benefits from these ventures. As a result, we are the primary beneficiary of both ventures and consistent with prior reporting periods, we consolidate each venture within our financial statements. (2) The assets of Prologis Brazil Logistics Partners Fund I (“Brazil Fund”) are primarily investments in unconsolidated entities of $108.4 million and $103.1 million at March 31, 2016, and December 31, 2015, respectively. For additional information on our unconsolidated investments, see Note 4. (3) This line item includes our two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. At March 31, 2016, and December 31, 2015, limited partnership units were exchangeable into cash or, at our option, 1,835 shares of the Parent’s common stock. All of these 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. (4) At March 31, 2016, and December 31, 2015, we had 8.9 million Class A Units that were convertible into 8.8 million common limited partnership units of the Operating Partnership. (5) At March 31, 2016, and December 31, 2015, excluding the Class A Units, there were common limited partnership units in the Operating Partnership that were exchangeable into cash or, at our option, 6.4 million shares of the Parent’s common stock with a fair value of $284.1 million and $275.0 million, respectively, based on the closing stock price of the Parent’s common stock. At March 31, 2016, and December 31, 2015, there were 2.0 million and 1.2 million LTIP Units (as defined in Note 9) outstanding, respectively, associated with our long-term compensation plan that are exchangeable into common units of the Operating Partnership and redeemable into the Parent’s common stock after they vest and other applicable conditions are met. All of these outstanding limited partnership units receive quarterly cash distributions equal to the quarterly distributions paid on our common stock pursuant to the terms of the partnership agreement.

Long-Term Compensation (Tables)

Long-Term Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
RSU and PSA [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options, RSU and Performance Share Awards	The following table summarizes the activity for RSUs for the three months ended March 31, 2016 (units in thousands): Number of Weighted Average Number of RSUs Grant-Date Fair Value RSUs Vested Balance at January 1, 2016 1,626 $ 42.21 109 Granted 773 Vested and distributed (757 ) Forfeited (20 ) Balance at March 31, 2016 1,622 $ 40.26 107
Restricted Operating Partnership Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options, RSU and Performance Share Awards	The following table summarizes the activity for LTIP Units for the three months ended March 31, 2016 (units in thousands): Number of Weighted Average Number of LTIP Units Grant-Date Fair Value LTIP Units Vested Balance at January 1, 2016 1,244 $ 42.21 303 Granted 779 Balance at March 31, 2016 2,023 $ 40.33 691
POP LTIP Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options, RSU and Performance Share Awards	The following table summarizes the activity for the POP LTIP Units for the three months ended March 31, 2016 (units in thousands): Number of POP LTIP Units Balance at January 1, 2016 3,464 Forfeited (927 ) Balance at March 31, 2016 2,537

Earnings Per Common Share or 30

Earnings Per Common Share or Unit (Tables)	3 Months Ended
	Mar. 31, 2016
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 (in thousands, except per share and unit amounts) is as follows: Three Months Ended March 31, Prologis, Inc. 2016 2015 Net earnings attributable to common stockholders – Basic $ 208,041 $ 345,206 Net earnings attributable to exchangeable limited partnership units (1) 6,609 1,650 Gains, net of expenses, associated with exchangeable debt assumed exchanged (2) - (1,614 ) Adjusted net earnings attributable to common stockholders – Diluted $ 214,650 $ 345,242 Weighted average common shares outstanding – Basic (3) 524,205 514,022 Incremental weighted average effect on exchange of limited partnership units (1) 17,543 3,794 Incremental weighted average effect of equity awards 1,814 2,394 Incremental weighted average effect on exchangeable debt assumed exchanged (2) - 8,812 Weighted average common shares outstanding – Diluted (4) 543,562 529,022 Net earnings per share attributable to common stockholders: Basic $ 0.40 $ 0.67 Diluted $ 0.39 $ 0.65 Three Months Ended March 31, Prologis, L.P. 2016 2015 Net earnings attributable to common unitholders $ 214,275 $ 346,488 Net earnings attributable to Class A convertible common unitholders (3,510 ) - Net earnings attributable to common unitholders – Basic $ 210,765 $ 346,488 Net earnings attributable to Class A convertible common unitholders 3,510 - Net earnings attributable to exchangeable limited partnership units 375 368 Gains, net of expenses, associated with exchangeable debt assumed exchanged (2) - (1,614 ) Adjusted net earnings attributable to common unitholders – Diluted $ 214,650 $ 345,242 Weighted average common partnership units outstanding – Basic (3) 531,070 515,931 Incremental weighted average effect on exchange of Class A convertible units 8,844 - Incremental weighted average effect on exchange of limited partnership units 1,834 1,885 Incremental weighted average effect of equity awards of Prologis, Inc. 1,814 2,394 Incremental weighted average effect on exchangeable debt assumed exchanged (2) - 8,812 Weighted average common partnership units outstanding – Diluted (4) 543,562 529,022 Net earnings per unit attributable to common unitholders: Basic $ 0.40 $ 0.67 Diluted $ 0.39 $ 0.65 (1) Earnings allocated to the exchangeable Operating Partnership units not held by the Parent has been included in the numerator and exchangeable Operating Partnership 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) In March 2015, we had exchangeable debt that was settled primarily through the issuance of common stock. The adjustment in 2015 assumes the exchange occurred on January 1, 2015. (3) The increase in shares and units between the periods is primarily due the at-the-market program activity in early 2015 and the conversion of exchangeable debt to shares and units in March 2015. (4) Our total potentially dilutive shares and units outstanding consisted of the following: Three Months Ended March 31, 2016 2015 Total weighted average potentially dilutive limited partnership units 10,678 1,885 Total potentially dilutive stock awards 6,565 7,391 Total weighted average potentially dilutive shares and units from exchangeable debt - 8,812 Total Prologis, L.P. 17,243 18,088 Limited partners in Prologis, L.P. 6,865 1,909 Total Prologis, Inc. 24,108 19,997

Financial Instruments and Fai31

Financial Instruments and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of Fair Value and Location of Derivative Instruments	The following table presents the fair value and location of our derivative instruments (in thousands): March 31, 2016 December 31, 2015 Asset Liability Asset Liability Net investment hedges – Canadian dollar denominated $ - $ 2,183 $ - $ - Net investment hedges – pound sterling denominated 42,301 - 33,471 - Cash flow hedge foreign currency options – peso denominated - 64 - 88 Foreign currency options – Canadian dollar denominated (1) 1,203 676 3,324 - Foreign currency options – euro denominated (1) 840 7,045 11,711 84 Foreign currency options – pound sterling denominated (1) 8,431 - 4,241 745 Foreign currency options – yen denominated (1) 149 6,011 832 717 Interest rate hedges - 30,994 - 12,095 Total fair value of derivatives $ 52,924 $ 46,973 $ 53,579 $ 13,729 (1) As discussed above, these foreign currency options are not designated as hedges. We recognized losses of $16.8 million and gains of $20.1 million in Foreign Currency and Derivative Gains and (Losses) and Related Amortization, Net
Foreign Currency Contracts Activity	The following tables summarize the activity in our foreign currency contracts for the three months ended March 31 (in millions, except for weighted average forward rates and number of active contracts): 2016 Foreign Currency Contracts Local Currency Net Investment Forward Contracts Forward and Option Contracts GBP JPY CAD EUR (1) GBP (1) (2) JPY (1) Other (1) Notional amounts at January 1 £ 238 ¥ - $ - € 275 £ 97 ¥ 12,840 New contracts - 11,189 133 60 - 4,000 Matured or expired contracts - (11,189 ) - (45 ) (12 ) (1,460 ) Notional amounts at March 31 £ 238 ¥ - $ 133 € 290 £ 85 ¥ 15,380 Foreign Currency Contracts U.S. Dollar Net Investment Forward Contracts Forward and Option Contracts Notional amounts at January 1 $ 386 $ - $ - $ 310 $ 148 $ 109 $ 50 New contracts - 99 100 68 - 36 9 Matured or expired contracts - (99 ) - (51 ) (18 ) (13 ) (8 ) Notional amounts at March 31 $ 386 $ - $ 100 $ 327 $ 130 $ 132 $ 51 Weighted average forward rate at March 31 1.62 - 1.33 1.13 1.53 116.35 - Active contracts at March 31 3 - 2 21 14 22 20 2015 Foreign Currency Contracts Local Currency Net Investment Forward Contracts Forward and Option Contracts (1) EUR GBP JPY EUR GBP JPY Notional amounts at January 1 € 300 £ 238 ¥ 24,136 € 284 £ - ¥ - New contracts - - - 198 126 12,740 Matured or expired contracts - - - (217 ) (7 ) (1,200 ) Notional amounts at March 31 € 300 £ 238 ¥ 24,136 € 265 £ 119 ¥ 11,540 Foreign Currency Contracts U.S. Dollar Net Investment Forward Contracts Forward and Option Contracts (1) Notional amounts at January 1 $ 400 $ 400 $ 250 $ 354 $ - $ - New contracts - - - 224 188 109 Matured or expired contracts - - - (265 ) (11 ) (10 ) Notional amounts at March 31 $ 400 $ 400 $ 250 $ 313 $ 177 $ 99 (1) During the three months ended March 31, 2016, and 2015, we exercised eight and six option contracts and realized gains of $1.7 million and $2.2 million, respectively, in Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net. (2) Included in our British pounds sterling denominated option contracts are two forward contracts to sell British pounds sterling and buy euros. These forwards have a notional amount of £11.0 million (€14.8 million) and were reported in this table using a weighted average exchange rate of $1.09 U.S. dollars to the euro.
Summary of Gains (Losses) From Change in Fair Value of Derivative Instruments Included in Other Comprehensive Income	The following table presents the gains and (losses) associated with the change in fair value for the effective portion of our derivative and nonderivative hedging instruments included in Other Comprehensive Income Three Months Ended March 31, 2016 2015 Derivative net investment hedges (1) $ 7,908 $ 63,178 Interest rate hedges (2) (11,118 ) 1,582 Cash flow hedges (3 ) - Our share of derivatives from unconsolidated co-investment ventures (4,771 ) 2,227 Total derivative instruments (7,984 ) 66,987 Nonderivative net investment hedges (3) (161,189 ) 330,114 Total derivative and nonderivative hedging instruments $ (169,173 ) $ 397,101 (1) We received $0.9 million and $1.5 million for the three months ended March 31, 2016, and 2015, respectively, upon the settlement of net investment hedges. (2) The amounts reclassified to interest expense for three months ended March 31, 2016, were $1.0 million. The amounts reclassified to interest expense for the three months ended March 31, 2015, were not considered significant. For the next 12 months from March 31, 2016, we estimate an additional expense for $5.9 million will be reclassified to Interest Expense (3) At March 31, 2016, and December 31, 2015, we had €3.2 billion ($3.6 billion) and €3.2 billion ($3.5 billion) of debt, net of accrued interest, respectively, designated as nonderivative financial instrument hedges of our net investment in international subsidiaries. We recognized unrealized gains of $15.4 million in Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net
Carrying Amounts and Estimated Fair Values of Debt	The following table reflects the carrying amounts and estimated fair values of our debt (in thousands): March 31, 2016 December 31, 2015 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 306,775 $ 307,012 $ - $ - Senior notes 6,682,221 7,183,290 6,516,392 6,801,118 Term loans and other debt 1,897,819 1,910,292 2,115,457 2,128,270 Secured mortgage debt 987,826 1,080,954 1,172,473 1,262,778 Secured mortgage debt of consolidated entities 1,812,530 1,821,697 1,822,509 1,825,361 Total debt $ 11,687,171 $ 12,303,245 $ 11,626,831 $ 12,017,527

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Reporting, Reconciliation of Revenues, Operating Income and Assets	The following reconciliations are presented in thousands: Three Months Ended March 31, 2016 2015 Revenues: Real estate operations: U.S. $ 511,157 $ 376,198 Other Americas 13,956 14,432 Europe 16,789 18,769 Asia 14,732 11,423 Total Real Estate Operations segment 556,634 420,822 Strategic capital: U.S. 9,356 9,357 Other Americas 5,365 5,569 Europe 22,269 18,393 Asia 12,676 8,706 Total Strategic Capital segment 49,666 42,025 Total revenues $ 606,300 $ 462,847 Net operating income: Real estate operations: U.S. $ 375,718 $ 259,578 Other Americas 8,214 9,843 Europe 11,619 10,938 Asia 9,817 7,793 Total Real Estate Operations segment 405,368 288,152 Strategic capital: U.S. 1,709 1,580 Other Americas 3,115 2,933 Europe 15,306 11,795 Asia 4,243 535 Total Strategic Capital segment 24,373 16,843 Total segment net operating income 429,741 304,995 Reconciling items: General and administrative expenses, net (50,543 ) (51,306 ) Depreciation and amortization expenses (250,000 ) (169,808 ) Earnings from unconsolidated entities, net 58,311 31,042 Interest expense (80,812 ) (68,761 ) Interest and other income, net 2,591 11,049 Gains on dispositions of investments in real estate, net 144,317 277,715 Foreign currency and derivative gains (losses) and related amortization, net (14,211 ) 34,566 Losses on early extinguishment of debt, net (1,052 ) (16,289 ) Total reconciling items (191,399 ) 48,208 Earnings before income taxes $ 238,342 $ 353,203 March 31, December 31, 2016 2015 Assets: Real estate operations: U.S. $ 21,705,401 $ 22,030,457 Other Americas 1,015,963 919,381 Europe 1,447,446 1,291,991 Asia 1,164,456 1,157,401 Total Real Estate Operations segment 25,333,266 25,399,230 Strategic capital: U.S. 19,046 19,363 Europe 50,673 49,960 Asia 1,947 2,005 Total Strategic Capital segment 71,666 71,328 Total segment assets 25,404,932 25,470,558 Reconciling items: Investments in and advances to unconsolidated entities 4,866,664 4,755,620 Assets held for sale or contribution 431,332 378,423 Notes receivable backed by real estate 37,550 235,050 Cash and cash equivalents 369,737 264,080 Other assets 265,533 291,036 Total reconciling items 5,970,816 5,924,209 Total assets $ 31,375,748 $ 31,394,767

General - Additional Informatio

General - Additional Information (Detail) shares in Millions	3 Months Ended
	Mar. 31, 2016Segmentshares
General [Line Items]
Number of reportable segments | Segment	2
Percentage of common limited partnership interest	2.96%
General Partner [Member]
General [Line Items]
Percentage of ownership in operating partnership	97.04%
Class A Capital [Member]
General [Line Items]
Class of common limited partnership units designated as class A common units | shares	8.9
Preferred [Member]
General [Line Items]
Percentage of ownership in operating partnership	100.00%

Business Combination - Addition

Business Combination - Additional Information (Detail) shares in Millions, ft² in Millions, $ in Billions	May. 29, 2015ft²Propertyshares	Mar. 31, 2016USD ($)shares	Dec. 31, 2015shares
Business Acquisition [Line Items]
Business acquisition, common limited partnership units issued | shares		6.4	6.4
Prologis US Logistics Venture [Member]
Business Acquisition [Line Items]
Noncontrolling interests in real estate entities	55.00%	55.00%	55.00%
Contribution received from venture partner | $		$ 2.3
Prologis US Logistics Venture [Member] | KTR Capital Partners and Affiliates [Member]
Business Acquisition [Line Items]
Number of buildings | Property	315
Square feet	59
Area of properties under development	3.6
Area of properties to support potential build out	6.8
Prologis US Logistics Venture [Member] | KTR Capital Partners and Affiliates [Member] | Common Limited Partnership Units
Business Acquisition [Line Items]
Business acquisition, common limited partnership units issued | shares	4.5

Business Combination - Allocati

Business Combination - Allocation of Purchase Price (Detail) - KTR Capital Partners and Affiliates [Member] $ in Thousands	May. 29, 2015USD ($)
Business Acquisition [Line Items]
Investments in real estate properties	$ 5,440,348
Intangible assets, net of intangible liabilities	332,708
Accounts receivable and other assets	8,414
Debt, including premium	(735,172)
Accounts payable, accrued expenses and other liabilities	(55,629)
Total estimated purchase price	4,990,669
Noncontrolling interests	(2,253,234)
Common limited partnership units issued in the Operating Partnership	(181,170)
Total purchase price	$ 2,556,265

Business Combination - Schedule

Business Combination - Schedule of Unaudited Pro Forma Financial Information (Detail) - KTR Capital Partners and Affiliates [Member] $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2015USD ($)$ / shares
Business Acquisition [Line Items]
Total revenues | $	$ 558,797
Net earnings attributable to common stockholders | $	$ 341,538
Net earnings per share attributable to common stockholders – Basic | $ / shares	$ 0.66
Net earnings per share attributable to common stockholders – Diluted | $ / shares	$ 0.65

Real Estate - Investments in Re

Real Estate - Investments in Real Estate Properties (Detail) ft² in Thousands, $ in Thousands	Mar. 31, 2016USD ($)ft²Buildings	Dec. 31, 2015USD ($)ft²Buildings
Real Estate Properties [Line Items]
Total investments in real estate properties	$ 27,628,680	$ 27,521,368
Less accumulated depreciation	3,424,143	3,274,284
Net investments in real estate properties	$ 24,204,537	$ 24,247,084
Improved Land [Member]
Real Estate Properties [Line Items]
Square Feet and Acres | ft²	0	0
Number of buildings | Buildings	0	0
Total investments in real estate properties	$ 5,906,579	$ 5,874,052
Building and Improvements [Member]
Real Estate Properties [Line Items]
Square Feet and Acres | ft²	337,017	333,830
Number of buildings | Buildings	1,853	1,872
Total investments in real estate properties	$ 17,882,021	$ 17,861,693
Development Portfolio, Including Cost of Land: Pre-stabilized [Member]
Real Estate Properties [Line Items]
Square Feet and Acres | ft²	11,680	12,598
Number of buildings | Buildings	24	28
Total investments in real estate properties	$ 826,073	$ 918,099
Properties Under Development [Member]
Real Estate Properties [Line Items]
Square Feet and Acres | ft²	17,720	19,630
Number of buildings | Buildings	65	63
Total investments in real estate properties	$ 1,097,289	$ 954,804
Land [Member]
Real Estate Properties [Line Items]
Square Feet and Acres | ft²	7,175	7,404
Number of buildings | Buildings	0	0
Total investments in real estate properties	$ 1,341,600	$ 1,359,794
Other Real Estate Investments [Member]
Real Estate Properties [Line Items]
Square Feet and Acres | ft²	0	0
Number of buildings | Buildings	0	0
Total investments in real estate properties	$ 575,118	$ 552,926

Real Estate - Summary of Dispos

Real Estate - Summary of Dispositions (Detail) - Continuing Operations [Member] ft² in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)ft²Property	Mar. 31, 2015USD ($)ft²Property
Contributions to unconsolidated co-investment ventures [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of buildings | Property	5	3
Square feet | ft²	2,711	507
Net proceeds	$ 397,895	$ 29,068
Net gains on contributions	$ 93,139	$ 2,358
Third Parties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of buildings | Property	27	34
Square feet | ft²	2,244	2,693
Net proceeds	$ 280,579	$ 495,629
Net gains on contributions	$ 51,178	$ 275,357

Unconsolidated Entities - Summa

Unconsolidated Entities - Summary of Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Schedule Of Equity Method Investments [Line Items]
Other ventures	$ 4,866,664	$ 4,755,620
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Other ventures	4,711,977	4,585,427
Other Joint Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Other ventures	$ 154,687	$ 170,193

Unconsolidated Entities - Addit

Unconsolidated Entities - Additional Information (Detail) € in Millions, $ in Millions	1 Months Ended		3 Months Ended
	Apr. 30, 2016USD ($)	Apr. 30, 2016EUR (€)	Mar. 31, 2016USD ($)
Prologis Targeted Europe Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Redeemed a portion of our investment			$ 210.6
Prologis Targeted Europe Logistics Fund [Member] | Subsequent Event [Member]
Schedule Of Equity Method Investments [Line Items]
Redeemed a portion of our investment | €		€ 185
Additional investment received from third-party investor | €		€ 120
Ownership percentage	27.90%	27.90%
Prologis Targeted U.S. Logistics Fund [Member] | Subsequent Event [Member]
Schedule Of Equity Method Investments [Line Items]
Redeemed a portion of our investment	$ 200
Ownership percentage	17.60%	17.60%
Prologis European Logistics Partners [Member]
Schedule Of Equity Method Investments [Line Items]
Repayment of debt commitment to third parties			$ 46.9

Unconsolidated Entities - Sum41

Unconsolidated Entities - Summary of Unconsolidated Co-investment Ventures (Detail) - Unconsolidated Co-Investment Ventures [Member] $ in Thousands, ft² in Millions		3 Months Ended
		Mar. 31, 2016USD ($)ft²PropertyVenture	Mar. 31, 2015USD ($)ft²PropertyVenture	Dec. 31, 2015USD ($)ft²PropertyVenture
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		9	9	9
Number of properties owned | Property		1,348	1,300	1,350
Square feet | ft²		280	264	277
Total assets		$ 23,431,000	$ 21,499,000	$ 22,553,000
Third-party debt		6,396,000	6,297,000	6,250,000
Total liabilities		7,755,000	7,432,000	7,593,000
Our investment balance	[1]	4,712,000	4,382,000	$ 4,585,000
Revenues		474,544	452,645
Net operating income	[2]	365,368	346,149
Net earnings		$ 139,381	$ 90,249
U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		1	1	1
Number of properties owned | Property		381	393	391
Square feet | ft²		50	51	50
Total assets		$ 4,382,000	$ 4,326,000	$ 4,408,000
Third-party debt		1,447,000	1,579,000	1,433,000
Total liabilities		1,528,000	1,659,000	1,550,000
Our investment balance	[1]	688,000	705,000	$ 690,000
Revenues		97,961	93,545
Net operating income	[2]	68,294	63,971
Net earnings		$ 30,575	$ 2,032
Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		2	2	2
Number of properties owned | Property		206	199	205
Square feet | ft²		39	37	39
Total assets		$ 2,600,000	$ 2,563,000	$ 2,482,000
Third-party debt		659,000	676,000	657,000
Total liabilities		756,000	727,000	708,000
Our investment balance	[1]	817,000	797,000	$ 786,000
Revenues		56,414	56,469
Net operating income	[2]	48,833	48,112
Net earnings		$ 13,898	$ 13,868
Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		4	4	4
Number of properties owned | Property		688	655	688
Square feet | ft²		159	150	159
Total assets		$ 11,538,000	$ 10,480,000	$ 11,343,000
Third-party debt		2,511,000	2,371,000	2,640,000
Total liabilities		3,448,000	3,196,000	3,584,000
Our investment balance	[1]	2,759,000	2,531,000	$ 2,707,000
Revenues		244,319	234,713
Net operating income	[2]	188,977	180,832
Net earnings		$ 72,832	$ 50,959
Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		2	2	2
Number of properties owned | Property		73	53	66
Square feet | ft²		32	26	29
Total assets		$ 4,911,000	$ 4,130,000	$ 4,320,000
Third-party debt		1,779,000	1,671,000	1,520,000
Total liabilities		2,023,000	1,850,000	1,751,000
Our investment balance	[1]	448,000	349,000	$ 402,000
Revenues		75,850	67,918
Net operating income	[2]	59,264	53,234
Net earnings		$ 22,076	$ 23,390
Weighted Average [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	31.10%	31.80%	31.60%
Weighted Average [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	22.50%	24.40%	22.50%
Weighted Average [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	43.70%	43.30%	43.80%
Weighted Average [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	38.50%	38.70%	38.90%
Weighted Average [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	15.00%	15.00%	15.00%
[1]	The difference between our ownership interest of a venture’s equity and our investment balance, at March 31, 2016 and December 31, 2015, results principally from three types of transactions: (i) deferring a portion of the gains we recognize from a contribution of a property to a venture ($445.9 million and $430.7 million, respectively); (ii) recording additional costs associated with our investment in a venture ($123.9 million and $122.1 million, respectively); and (iii) advances to a venture ($144.1 million and $189.7 million, respectively). Included in the advances to our ventures at March 31, 2016 and December 31, 2015 were receivables from Nippon Prologis REIT, Inc. (“NPR”) of $98.6 million and $85.2 million, respectively, related to customer security deposits that originated through a leasing company owned by us that pertain to properties owned by NPR. We have a corresponding payable to NPR’s customers in Other Liabilities.
[2]	Net operating income represents rental revenues less rental expenses.
[3]	Represents our weighted average ownership interest in all co-investment ventures based on each entity’s contribution of total assets, before depreciation, net of other liabilities.

Unconsolidated Entities - Sum42

Unconsolidated Entities - Summary of Unconsolidated Co-investment Ventures (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Schedule Of Equity Method Investments [Line Items]
Deferred gain recognize	$ 445.9	$ 430.7
Additional costs associated with investment in a venture	123.9	122.1
Intercompany notes receivable and advances to ventures	144.1	189.7
Nippon Prologis REIT Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Intercompany notes receivable and advances to ventures	$ 98.6	$ 85.2

Unconsolidated Entities - Earni

Unconsolidated Entities - Earnings on Investment in Co-Investment Ventures (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	$ 58,311	$ 31,042
Strategic capital revenue	49,666	42,025
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	47,192	30,236
Total strategic capital revenue and other income	48,978	41,303
Strategic capital revenue	50,539	42,943
Unconsolidated Co-Investment Ventures [Member] | Development Management and Other Revenue [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenue and other income	1,561	1,640
Unconsolidated Co-Investment Ventures [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	6,659	292
Total strategic capital revenue and other income	8,995	8,560
Unconsolidated Co-Investment Ventures [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	5,299	4,506
Total strategic capital revenue and other income	5,365	5,801
Unconsolidated Co-Investment Ventures [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	31,579	21,508
Total strategic capital revenue and other income	22,019	18,393
Unconsolidated Co-Investment Ventures [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	3,655	3,930
Total strategic capital revenue and other income	$ 12,599	$ 8,549

Unconsolidated Entities - Sum44

Unconsolidated Entities - Summary of Remaining Equity Commitments (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 2,912
Prologis Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	303
Fund Partner
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	2,609
Prologis Targeted U.S. Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 352
Expiration date for remaining commitments range start	2,016
Expiration date for remaining commitments range end	2,017
Prologis Targeted U.S. Logistics Fund [Member] | Prologis Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 0
Prologis Targeted U.S. Logistics Fund [Member] | Fund Partner
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	352
Prologis Targeted Europe Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 543	[1]
Expiration date for remaining commitments range start	2,016	[1]
Expiration date for remaining commitments range end	2,017	[1]
Prologis Targeted Europe Logistics Fund [Member] | Prologis Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 0	[1]
Prologis Targeted Europe Logistics Fund [Member] | Fund Partner
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	543	[1]
Prologis China Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 2,017	[2]
Expiration date for remaining commitments range start	2,016	[2]
Expiration date for remaining commitments range end	2,017	[2]
Prologis China Logistics Venture [Member] | Prologis Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 303	[2]
Prologis China Logistics Venture [Member] | Fund Partner
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 1,714	[2]
[1]	Equity commitments are denominated in euro and reported in U.S. dollars based on an exchange rate of $1.14 U.S. dollars to the euro.
[2]	In January 2016, we reached an agreement with our partner in this venture to increase the equity commitments by $882.4 million, of which our share is $132.4 million, to fund future developments in China.

Unconsolidated Entities - Sum45

Unconsolidated Entities - Summary of Remaining Equity Commitments (Parenthetical) (Detail) $ in Millions	1 Months Ended
	Jan. 31, 2016USD ($)	Mar. 31, 2016$ / €
Prologis Targeted Europe Logistics Fund [Member] | U.S. Dollars to Euro [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate		1.14
Prologis European Properties Fund II [Member] | U.S. Dollars to Euro [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate		1.14
Europe Logistics Venture 1 [Member] | U.S. Dollars to Euro [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate		1.14
Prologis China Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Increase equity commitments | $	$ 882.4
Equity commitments fund for future development | $	$ 132.4

Assets Held for Sale or Contr46

Assets Held for Sale or Contribution - Summary of Assets Held for Sale or Contribution (Detail) ft² in Thousands, $ in Thousands	Mar. 31, 2016USD ($)ft²Property	Dec. 31, 2015USD ($)ft²Property
Long Lived Assets Held For Sale [Line Items]
Total assets held for sale or contribution	$ 431,332	$ 378,423
Total liabilities associated with assets held for sale or contribution – included in Other Liabilities	$ 6,174	$ 6,874
Disposal Group Heldforsale Not Discontinued Operations
Long Lived Assets Held For Sale [Line Items]
Number of operating properties | Property	33	17
Square feet | ft²	6,444	5,065

Notes Receivable Backed by Re47

Notes Receivable Backed by Real Estate - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended
	Dec. 31, 2015	Mar. 31, 2016	Feb. 29, 2016
Loans And Leases Receivable [Line Items]
Notes receivable backed by real estate	$ 235,050	$ 37,550
Minimum [Member]
Loans And Leases Receivable [Line Items]
Notes receivable maturity date	2016-06
Maximum [Member]
Loans And Leases Receivable [Line Items]
Notes receivable maturity date	2017-04
Third Parties [Member]
Loans And Leases Receivable [Line Items]
Notes receivable backed by real estate	$ 37,600		$ 197,500
Interest rate on Note receivable, Minimum	5.50%
Interest rate on Note receivable, Maximum	10.00%

Debt - Debt Summary (Detail)

Debt - Debt Summary (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Debt	$ 11,687,171	$ 11,626,831
Credit Facilities [Member]
Debt Instrument [Line Items]
Debt	306,775	0
Senior Notes [Member]
Debt Instrument [Line Items]
Debt	6,682,221	6,516,392
Term Loan [Member]
Debt Instrument [Line Items]
Debt	1,900,000
Secured Mortgage Debt [Member]
Debt Instrument [Line Items]
Debt	$ 987,826	$ 1,172,473
Debts Of Operating Partnership [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.20%	3.20%
Debt	$ 11,687,171	$ 11,626,831
Debts Of Operating Partnership [Member] | Credit Facilities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.50%	0.00%
Debt	$ 306,775	$ 0
Debts Of Operating Partnership [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.30%	3.30%
Debt	$ 6,682,221	$ 6,516,392
Debts Of Operating Partnership [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.80%	2.10%
Debt	$ 1,882,382	$ 2,100,009
Debts Of Operating Partnership [Member] | Other Debt [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	6.20%	6.20%
Debt	$ 15,437	$ 15,448
Debts Of Operating Partnership [Member] | Secured Mortgage Debt [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	6.00%	5.10%
Debt	$ 987,826	$ 1,172,473
Debts Of Operating Partnership [Member] | Secured Mortgage Debt of Consolidated Entities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.90%	2.90%
Debt	$ 1,812,530	$ 1,822,509

Debt - Debt Summary (Parentheti

Debt - Debt Summary (Parenthetical) (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Debt	$ 11,687,171	$ 11,626,831
EUR
Debt Instrument [Line Items]
Debt	3,600,000
JPY
Debt Instrument [Line Items]
Debt	1,100,000
CAD
Debt Instrument [Line Items]
Debt	$ 455,000

Debt - Additional Information (

Debt - Additional Information (Detail) $ in Thousands, ¥ in Billions	1 Months Ended	3 Months Ended
	Apr. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)shares	Mar. 31, 2016JPY (¥)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity		$ 2,749,000
Borrowings outstanding		307,000
Notes exchanged			$ 459,800
Number of share issued on debt conversion | shares			11,900,000
Repayments of convertible debt			$ 200
Exchangeable Senior Notes Outstanding		6,600,000
Carrying Value of Debt		11,687,171			$ 11,626,831
2016 Yen Senior Term Loan [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity		$ 99,600		¥ 11.2
Debt Instrument maturity date		2017-03
Interest Rate, Description		LIBOR plus 1.10%
Borrowings outstanding		$ 99,600
2016 Yen Senior Term Loan [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate		1.10%
Exchangeable Senior Notes [Member]
Debt Instrument [Line Items]
Unrealized gain (loss) on derivative instrument			$ 8,300
Term Loan [Member]
Debt Instrument [Line Items]
Carrying Value of Debt		$ 1,900,000
Global Facility [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity		2,300,000
Global Facility [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 3,000,000
Debt Instrument maturity date	2020-04
Revolver [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity | ¥				56.5
Credit facility current borrowing capacity		$ 400,600		¥ 45

Debt - Credit Facilities (Detai

Debt - Credit Facilities (Detail) $ in Millions	Mar. 31, 2016USD ($)
Debt Disclosure [Abstract]
Aggregate lender commitments	$ 2,749
Borrowings outstanding	307
Outstanding letters of credit	26
Current availability	$ 2,416

Debt - Long-Term Debt Maturitie

Debt - Long-Term Debt Maturities (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
2,016	$ 337,000
2,017	1,492,000
2,018	746,000
2,019	1,065,000
2,020	1,144,000
2,021	1,804,000
2,022	1,387,000
2,023	1,313,000
2,024	931,000
2,025	891,000
Thereafter	578,000
Subtotal	11,688,000
Unamortized premiums (discounts), net	49,000
Unamortized debt issuance costs, net	(50,000)
Totals	11,687,171	$ 11,626,831
Credit Facilities [Member]
Debt Instrument [Line Items]
Totals	306,775	0
Senior Notes [Member]
Debt Instrument [Line Items]
Totals	6,682,221	6,516,392
Secured Mortgage Debt [Member]
Debt Instrument [Line Items]
Totals	987,826	$ 1,172,473
Wholly Owned
Debt Instrument [Line Items]
2,016	169,000
2,017	977,000
2,018	343,000
2,019	922,000
2,020	892,000
2,021	1,676,000
2,022	1,386,000
2,023	1,171,000
2,024	930,000
2,025	890,000
Thereafter	576,000
Subtotal	9,932,000
Unamortized premiums (discounts), net	(11,000)
Unamortized debt issuance costs, net	(46,000)
Totals	9,875,000
Wholly Owned | Credit Facilities [Member]
Debt Instrument [Line Items]
2,016	0
2,017	307,000
2,018	0
2,019	0
2,020	0
2,021	0
2,022	0
2,023	0
2,024	0
2,025	0
Thereafter	0
Subtotal	307,000
Unamortized premiums (discounts), net	0
Unamortized debt issuance costs, net	0
Totals	307,000
Wholly Owned | Senior Notes [Member]
Debt Instrument [Line Items]
2,016	0
2,017	0
2,018	175,000
2,019	618,000
2,020	885,000
2,021	1,297,000
2,022	797,000
2,023	850,000
2,024	797,000
2,025	750,000
Thereafter	569,000
Subtotal	6,738,000
Unamortized premiums (discounts), net	(23,000)
Unamortized debt issuance costs, net	(33,000)
Totals	6,682,000
Wholly Owned | Term Loans And Other Debt [Member]
Debt Instrument [Line Items]
2,016	1,000
2,017	662,000
2,018	1,000
2,019	1,000
2,020	1,000
2,021	365,000
2,022	579,000
2,023	288,000
2,024	1,000
2,025	1,000
Thereafter	7,000
Subtotal	1,907,000
Unamortized premiums (discounts), net	0
Unamortized debt issuance costs, net	(9,000)
Totals	1,898,000
Wholly Owned | Secured Mortgage Debt [Member]
Debt Instrument [Line Items]
2,016	168,000
2,017	8,000
2,018	167,000
2,019	303,000
2,020	6,000
2,021	14,000
2,022	10,000
2,023	33,000
2,024	132,000
2,025	139,000
Thereafter	0
Subtotal	980,000
Unamortized premiums (discounts), net	12,000
Unamortized debt issuance costs, net	(4,000)
Totals	988,000
Consolidated Entities
Debt Instrument [Line Items]
2,016	168,000
2,017	515,000
2,018	403,000
2,019	143,000
2,020	252,000
2,021	128,000
2,022	1,000
2,023	142,000
2,024	1,000
2,025	1,000
Thereafter	2,000
Subtotal	1,756,000
Unamortized premiums (discounts), net	60,000
Unamortized debt issuance costs, net	(4,000)
Totals	$ 1,812,000

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016
Prologis, L.P. [Member]
Noncontrolling Interest [Line Items]
Description of conversion rate	One share of common stock to one unit

Noncontrolling Interests - Nonc

Noncontrolling Interests - Noncontrolling Interest Summary (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Dec. 31, 2015	May. 29, 2015
Noncontrolling Interest [Line Items]
Operating Partnership noncontrolling interest		$ 3,264,088	$ 3,320,227
Noncontrolling interests		3,707,963	3,752,901
Total Assets		31,375,748	31,394,767
Total Liabilities		13,035,124	12,973,931
Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Total Assets		10,323,672	10,494,233
Total Liabilities		$ 2,029,731	$ 2,055,704
Prologis US Logistics Venture [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage		55.00%	55.00%	55.00%
Operating Partnership noncontrolling interest		$ 2,621,183	$ 2,677,642
Total Assets		6,646,160	6,788,968
Total Liabilities		$ 825,656	$ 847,084
Prologis North American Industrial Fund [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage	[1]	66.10%	66.10%
Operating Partnership noncontrolling interest	[1]	$ 489,727	$ 490,444
Total Assets	[1]	2,597,338	2,619,241
Total Liabilities	[1]	$ 1,157,999	$ 1,165,617
Prologis Brazil Logistics Partners Fund I [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage	[1],[2]	50.00%	50.00%
Operating Partnership noncontrolling interest	[1],[2]	$ 52,547	$ 49,313
Total Assets	[1],[2]	112,766	100,836
Total Liabilities	[1],[2]	$ 225	192
Other Consolidated Entities [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership	[3]	various
Operating Partnership noncontrolling interest	[3]	$ 100,631	102,828
Total Assets	[3]	967,408	985,188
Total Liabilities	[3]	45,851	42,811
Prologis, L.P. [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		3,264,088	3,320,227
Total Assets		31,375,748	31,394,767
Total Liabilities		13,035,124	12,973,931
Prologis, L.P. [Member] | Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Limited partners in Prologis, L.P.	[4],[5]	443,875	432,674
Total Assets	[4],[5]	0	0
Total Liabilities	[4],[5]	0	0
Prologis Inc [Member]
Noncontrolling Interest [Line Items]
Total Assets		10,323,672	10,494,233
Total Liabilities		2,029,731	2,055,704
Prologis Inc [Member] | Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		$ 3,707,963	$ 3,752,901
[1]	These ventures are considered VIE’s under the new consolidation guidance discussed in Note 1. Based on our evaluation, the noncontrolling interests in these ventures do not hold substantive participating or kick-out rights and therefore as a group they lack the power to direct the significant activities of these ventures that most significantly impact the venture’s economic performance. We have both the power to direct the significant activities and the obligation to absorb losses and the rights to receive benefits from these ventures. As a result, we are the primary beneficiary of both ventures and consistent with prior reporting periods, we consolidate each venture within our financial statements.
[2]	The assets of Prologis Brazil Logistics Partners Fund I (“Brazil Fund”) are primarily investments in unconsolidated entities of $108.4 million and $103.1 million at March 31, 2016, and December 31, 2015, respectively. For additional information on our unconsolidated investments, see Note 4.
[3]	This line item includes our two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. At March 31, 2016, and December 31, 2015, limited partnership units were exchangeable into cash or, at our option, 1,835 shares of the Parent’s common stock. All of these 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.
[4]	At March 31, 2016, and December 31, 2015, excluding the Class A Units, there were common limited partnership units in the Operating Partnership that were exchangeable into cash or, at our option, 6.4 million shares of the Parent’s common stock with a fair value of $284.1 million and $275.0 million, respectively, based on the closing stock price of the Parent’s common stock. At March 31, 2016, and December 31, 2015, there were 2.0 million and 1.2 million LTIP Units (as defined in Note 9) outstanding, respectively, associated with our long-term compensation plan that are exchangeable into common units of the Operating Partnership and redeemable into the Parent’s common stock after they vest and other applicable conditions are met. All of these outstanding limited partnership units receive quarterly cash distributions equal to the quarterly distributions paid on our common stock pursuant to the terms of the partnership agreement.
[5]	At March 31, 2016, and December 31, 2015, we had 8.9 million Class A Units that were convertible into 8.8 million common limited partnership units of the Operating Partnership.

Noncontrolling Interests - No55

Noncontrolling Interests - Noncontrolling Interest Summary (Parenthetical) (Detail) - USD ($) shares in Thousands, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Noncontrolling Interest [Line Items]
Business acquisition, common limited partnership units issued	6,400	6,400
Fair value of outstanding limited partnership units	$ 284.1	$ 275
Restricted Operating Partnership Units [Member]
Noncontrolling Interest [Line Items]
Number of units outstanding	2,000	1,200
Class A Capital [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units	8,900
Units outstanding	8,900	8,900
Class A units convertible into common units	8,800	8,800
Common Stock [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units	1,835	1,835
Prologis Brazil Logistics Partners Fund I [Member]
Noncontrolling Interest [Line Items]
Investments in unconsolidated entities	$ 108.4	$ 103.1

Long-Term Compensation - Additi

Long-Term Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options outstanding	3,900,000	3,900,000
Stock options exercisable	3,900,000	3,900,000
Stock options outstanding, weighted average exercise price	$ 32.78	$ 32.78
Stock options exercisable, weighted average exercise price	$ 32.78	$ 32.78
Options granted		0	0
Restricted Operating Partnership Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amount realized during conversion of prior held shares		779,000
Number of units outstanding	2,023,000	2,023,000	1,244,000
Restricted Operating Partnership Units [Member] | 2014-2016 and 2015-2017 performance periods [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units outstanding	2,500,000	2,500,000
Prologis Out-Performance Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance period used for fair value assumption		3 years
Prologis Promote Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Amount realized during conversion of prior held shares	53,000
Aggregate fair value	$ 2.3

Long-Term Compensation - RSU an

Long-Term Compensation - RSU and Performance Share Awards (Detail) shares in Thousands	3 Months Ended
	Mar. 31, 2016$ / sharesshares	Dec. 31, 2015$ / shares
RSU and PSA [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Awards, beginning balance	1,626
Granted	773
Vested and distributed	(757)
Forfeited	(20)
Number of Awards, ending balance	1,622
Weighted Average Grant-Date Fair Value | $ / shares	$ 40.26	$ 42.21
Weighted Average Grant-Date Fair Value, Granted | $ / shares	0
Weighted Average Grant-Date Fair Value, Vested | $ / shares	0
Weighted Average Grant-Date Fair Value, Forfeited | $ / shares	$ 0
Number of Shares, Beginning Balance	109
Number of Shares, Ending Balance	107
LTIP Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Awards, beginning balance	1,244
Granted	779
Number of Awards, ending balance	2,023
Weighted Average Grant-Date Fair Value | $ / shares	$ 40.33	$ 42.21
Weighted Average Grant-Date Fair Value, Granted | $ / shares	$ 0
Number of Shares, Beginning Balance	303
Number of Shares, Ending Balance	691
POP LTIP Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Awards, beginning balance	3,464
Forfeited	(927)
Number of Awards, ending balance	2,537

Earnings Per Common Share or 58

Earnings Per Common Share or Unit - Computation of Basic and Diluted Earnings Per Share Unit (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ 208,041	$ 345,206
Net earnings attributable to exchangeable limited partnership units	6,609	1,650
Gains, net of expenses, associated with exchangeable debt assumed exchanged	0	(1,614)
Adjusted net earnings attributable to common stockholders – Diluted	$ 214,650	$ 345,242
Weighted average common shares/units outstanding – Basic	524,205	514,022
Incremental weighted average effect on exchange of limited partnership units	17,543	3,794
Incremental weighted average effect of equity awards	1,814	2,394
Incremental weighted average effect on exchangeable debt assumed exchanged	0	8,812
Weighted average common shares/partnership units outstanding - Diluted	543,562	529,022
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 0.40	$ 0.67
Diluted	$ 0.39	$ 0.65
Prologis, L.P. [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ 214,275	$ 346,488
Net earnings attributable to exchangeable limited partnership units	375	368
Gains, net of expenses, associated with exchangeable debt assumed exchanged	0	(1,614)
Adjusted net earnings attributable to common stockholders – Diluted	$ 214,650	$ 345,242
Weighted average common shares/units outstanding – Basic	531,070	515,931
Incremental weighted average effect on exchange of limited partnership units	1,834	1,885
Incremental weighted average effect of equity awards	1,814	2,394
Incremental weighted average effect on exchangeable debt assumed exchanged	0	8,812
Weighted average common shares/partnership units outstanding - Diluted	543,562	529,022
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 0.40	$ 0.67
Diluted	$ 0.39	$ 0.65
Incremental weighted average effect on exchange of Class A convertible units	8,844	0
Prologis, L.P. [Member] | Class A Capital [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ 3,510	$ 0
Adjusted net earnings attributable to common stockholders – Diluted	3,510	0
Prologis, L.P. [Member] | Common Units
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ 210,765	$ 346,488

Earnings Per Common Share or 59

Earnings Per Common Share or Unit - Computation of Basic and Diluted Earnings Per Share Unit (Parenthetical) (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total potential dilutive shares and units outstanding	24,108	19,997
Prologis, L.P. [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potentially dilutive limited partnership units outstanding	10,678	1,885
Total potentially dilutive stock awards outstanding	6,565	7,391
Total weighted average potentially dilutive shares and units from exchangeable debt outstanding	0	8,812
Total potential dilutive shares and units outstanding	17,243	18,088
Total potential dilutive shares and units outstanding limited partnership	6,865	1,909

Financial Instruments and Fai60

Financial Instruments and Fair Value Measurements - Schedule of Fair Value and Location of Derivative Instruments (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Derivatives Fair Value [Line Items]
Asset	$ 52,924	$ 53,579
Liability	46,973	13,729
Foreign Currency Options [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	1,203	3,324
Liability	676	0
Foreign Currency Options [Member] | GBP [Member]
Derivatives Fair Value [Line Items]
Asset	8,431	4,241
Liability	0	745
Foreign Currency Options [Member] | EUR
Derivatives Fair Value [Line Items]
Asset	840	11,711
Liability	7,045	84
Foreign Currency Options [Member] | JPY [Member]
Derivatives Fair Value [Line Items]
Asset	149	832
Liability	6,011	717
Interest Rate Hedges [Member]
Derivatives Fair Value [Line Items]
Asset	0	0
Liability	30,994	12,095
Net Investment Hedges [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	0	0
Liability	2,183	0
Net Investment Hedges [Member] | GBP [Member]
Derivatives Fair Value [Line Items]
Asset	42,301	33,471
Liability	0	0
Cash Flow Hedge [Member] | Foreign Currency Options [Member] | Peso [Member]
Derivatives Fair Value [Line Items]
Asset	0	0
Liability	$ 64	$ 88

Financial Instruments and Fai61

Financial Instruments and Fair Value Measurements - Schedule of Fair Value and Location of Derivative Instruments (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Foreign Currency Options [Member]
Derivatives Fair Value [Line Items]
Gains (losses) on foreign exchange transactions	$ (16.8)	$ 20.1

Financial Instruments and Fai62

Financial Instruments and Fair Value Measurements - Foreign Currency Contracts Activity (Detail)	3 Months Ended
	Mar. 31, 2016USD ($)Derivative$ / €£ / $¥ / $CAD / $€ / $	Mar. 31, 2016EUR (€)Derivative$ / €£ / $¥ / $CAD / $€ / $		Mar. 31, 2016JPY (¥)Derivative$ / €£ / $¥ / $CAD / $€ / $		Mar. 31, 2016GBP (£)Derivative$ / €£ / $¥ / $CAD / $€ / $		Mar. 31, 2016CADDerivative$ / €£ / $¥ / $CAD / $€ / $	Mar. 31, 2015USD ($)	Mar. 31, 2015EUR (€)	Mar. 31, 2015JPY (¥)	Mar. 31, 2015GBP (£)
Net Investment Forward Contracts [Member] | GBP [Member]
Derivative [Line Items]
Notional amounts at January 1	$ 386,000,000					£ 238,000,000			$ 400,000,000			£ 238,000,000
New contracts	0					0			0			0
Matured or expired contracts	0					0			0			0
Notional amounts at March 31	$ 386,000,000					£ 238,000,000			400,000,000			238,000,000
Weighted average forward rate at March 31 | £ / $	1.62	1.62		1.62		1.62		1.62
Active contracts at March 31	3	3		3		3		3
Net Investment Forward Contracts [Member] | JPY
Derivative [Line Items]
Notional amounts at January 1	$ 0			¥ 0					250,000,000		¥ 24,136,000,000
New contracts	99,000,000			11,189,000,000					0		0
Matured or expired contracts	(99,000,000)			(11,189,000,000)					0		0
Notional amounts at March 31	$ 0			¥ 0					250,000,000		24,136,000,000
Weighted average forward rate at March 31 | ¥ / $	0	0		0		0		0
Active contracts at March 31	0	0		0		0		0
Net Investment Forward Contracts [Member] | CAD
Derivative [Line Items]
Notional amounts at January 1	$ 0							CAD 0
New contracts	100,000,000							133,000,000
Matured or expired contracts	0							0
Notional amounts at March 31	$ 100,000,000							CAD 133,000,000
Weighted average forward rate at March 31 | CAD / $	1.33	1.33		1.33		1.33		1.33
Active contracts at March 31	2	2		2		2		2
Net Investment Forward Contracts [Member] | EUR
Derivative [Line Items]
Notional amounts at January 1									400,000,000	€ 300,000,000
New contracts									0	0
Matured or expired contracts									0	0
Notional amounts at March 31									400,000,000	300,000,000
Forward and Option Contracts [Member]
Derivative [Line Items]
Notional amounts at March 31		€ 14,800,000				£ 11,000,000
Weighted average forward rate at March 31 | $ / €	1.09	1.09		1.09		1.09		1.09
Forward and Option Contracts [Member] | GBP [Member]
Derivative [Line Items]
Notional amounts at January 1	$ 148,000,000					£ 97,000,000	[1],[2]		0			0
New contracts	0					0	[1],[2]		188,000,000			126,000,000
Matured or expired contracts	(18,000,000)					(12,000,000)	[1],[2]		(11,000,000)			(7,000,000)
Notional amounts at March 31	$ 130,000,000					£ 85,000,000	[1],[2]		177,000,000			£ 119,000,000
Weighted average forward rate at March 31 | £ / $	1.53	1.53		1.53		1.53		1.53
Active contracts at March 31	14	14		14		14		14
Forward and Option Contracts [Member] | JPY
Derivative [Line Items]
Notional amounts at January 1	$ 109,000,000			¥ 12,840,000,000	[1]				0		0
New contracts	36,000,000			4,000,000,000	[1]				109,000,000		12,740,000,000
Matured or expired contracts	(13,000,000)			(1,460,000,000)	[1]				(10,000,000)		(1,200,000,000)
Notional amounts at March 31	$ 132,000,000			¥ 15,380,000,000	[1]				99,000,000		¥ 11,540,000,000
Weighted average forward rate at March 31 | ¥ / $	116.35	116.35		116.35		116.35		116.35
Active contracts at March 31	22	22		22		22		22
Forward and Option Contracts [Member] | EUR
Derivative [Line Items]
Notional amounts at January 1	$ 310,000,000	€ 275,000,000	[1]						354,000,000	284,000,000
New contracts	68,000,000	60,000,000	[1]						224,000,000	198,000,000
Matured or expired contracts	(51,000,000)	(45,000,000)	[1]						(265,000,000)	(217,000,000)
Notional amounts at March 31	$ 327,000,000	€ 290,000,000	[1]						$ 313,000,000	€ 265,000,000
Weighted average forward rate at March 31 | € / $	1.13	1.13		1.13		1.13		1.13
Active contracts at March 31	21	21		21		21		21
Forward and Option Contracts [Member] | USD [Member]
Derivative [Line Items]
Notional amounts at January 1 | $	$ 50,000,000
New contracts | $	9,000,000
Matured or expired contracts | $	(8,000,000)
Notional amounts at March 31 | $	$ 51,000,000
Active contracts at March 31	20	20		20		20		20
[1]	During the three months ended March 31, 2016, and 2015, we exercised eight and six option contracts and realized gains of $1.7 million and $2.2 million, respectively, in Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net.
[2]	Included in our British pounds sterling denominated option contracts are two forward contracts to sell British pounds sterling and buy euros. These forwards have a notional amount of £11.0 million (€14.8 million) and were reported in this table using a weighted average exchange rate of $1.09 U.S. dollars to the euro.

Financial Instruments and Fai63

Financial Instruments and Fair Value Measurements - Foreign Currency Contracts Activity (Parenthetical) (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)Contracts	Mar. 31, 2015USD ($)Contracts	Mar. 31, 2016EUR (€)$ / €	Mar. 31, 2016GBP (£)$ / €
Derivative [Line Items]
Number of option contracts exercised	8	6
Gains from option contracts exercised | $	$ 1.7	$ 2.2
Forward and Option Contracts [Member]
Derivative [Line Items]
Number of forward contracts included in option contracts available to sell	2
Notional value of forward contracts			€ 14,800,000	£ 11,000,000
Weighted average forward rate at March 31 | $ / €			1.09	1.09

Financial Instruments and Fai64

Financial Instruments and Fair Value Measurements - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016USD ($)Derivative	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)Derivative
Derivatives Fair Value [Line Items]
Number of interest rate swaps hedges outstanding | Derivative	7		7
Loss from option contracts exercised	$ 1,700,000	$ 2,200,000
Foreign currency translation gains (losses)	154,800,000	$ (517,600,000)
Interest Rate Swaps [Member]
Derivatives Fair Value [Line Items]
Notional amount of interest rate swaps	1,400,000,000		$ 1,400,000,000
Interest Rate Hedges [Member] | JPY
Derivatives Fair Value [Line Items]
Loss from option contracts exercised	$ (6,700,000)

Financial Instruments and Fai65

Financial Instruments and Fair Value Measurements - Summary of Gains (Losses) From Change in Fair Value of Derivative Instruments Included in Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative instruments	$ (7,984)	$ 66,987
Total derivative and nonderivative hedging instruments	(169,173)	397,101
Designated As Hedging Instrument [Member] | Derivative Net Investment Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative instruments	7,908	63,178
Designated As Hedging Instrument [Member] | Interest Rate Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative instruments	(11,118)	1,582
Designated As Hedging Instrument [Member] | Our Share of Derivatives from Unconsolidated Co-Investment Ventures [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative instruments	(4,771)	2,227
Designated As Hedging Instrument [Member] | Cash Flow Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative instruments	(3)	0
Non-Derivative Net Investment Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Nonderivative net investment hedges	$ (161,189)	$ 330,114

Financial Instruments and Fai66

Financial Instruments and Fair Value Measurements - Summary of Gains (Losses) From Change in Fair Value of Derivative Instruments Included in Other Comprehensive Income (Parenthetical) (Detail) € in Billions	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016EUR (€)	Dec. 31, 2015USD ($)	Dec. 31, 2015EUR (€)
Derivative Instruments Gain Loss [Line Items]
Amount received from (paid for) on settlement of net investment hedges	$ 900,000	$ 1,500,000
Interest expense reclassified	80,812,000	68,761,000
Debt	11,687,171,000				$ 11,626,831,000
Amount of gain (loss) included in AOCI	1,461,000	(124,279,000)
Forward Contracts
Derivative Instruments Gain Loss [Line Items]
Debt	0				0
Amount of gain (loss) included in AOCI	0	$ 15,400,000
Designated As Hedging Instrument [Member] | Forward Contracts
Derivative Instruments Gain Loss [Line Items]
Debt	3,600,000,000			€ 3.2	$ 3,500,000,000	€ 3.2
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Derivative Instruments Gain Loss [Line Items]
Interest expense reclassified	$ 1,000,000
Scenario Forecast | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Derivative Instruments Gain Loss [Line Items]
Interest expense reclassified			$ 5,900,000

Financial Instruments and Fai67

Financial Instruments and Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	$ 11,687,171	$ 11,626,831
Fair Value of Debt	12,303,245	12,017,527
Credit Facilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	306,775	0
Fair Value of Debt	307,012	0
Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	6,682,221	6,516,392
Fair Value of Debt	7,183,290	6,801,118
Secured Mortgage Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	987,826	1,172,473
Fair Value of Debt	1,080,954	1,262,778
Term Loans and Other Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	1,897,819	2,115,457
Fair Value of Debt	1,910,292	2,128,270
Secured Mortgage Debt of Consolidated Entities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	1,812,530	1,822,509
Fair Value of Debt	$ 1,821,697	$ 1,825,361

Business Segments - Additional

Business Segments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2016Segment
Segment Reporting [Abstract]
Number of operating segments	2

Business Segments - Segment Rep

Business Segments - Segment Reporting, Reconciliation of Revenues, Operating Income and Assets (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Total revenues	$ 606,300	$ 462,847
Consolidated net earnings	129,198	83,881
General and administrative expenses, net	(50,543)	(51,306)
Depreciation and amortization expenses	(250,000)	(169,808)
Earnings from unconsolidated entities, net	58,311	31,042
Interest expense	(80,812)	(68,761)
Interest and other income, net	2,591	11,049
Gains on dispositions of investments in real estate, net	144,317	277,715
Foreign currency and derivative gains (losses) and related amortization, net	(14,211)	34,566
Losses on early extinguishment of debt, net	(1,052)	(16,289)
Consolidated net earnings (loss)	109,144	269,322
Earnings before income taxes	238,342	353,203
Total assets	31,375,748		$ 31,394,767
Investments in and advances to unconsolidated entities	4,866,664		4,755,620
Assets held for sale or contribution	431,332		378,423
Notes receivable backed by real estate	37,550		235,050
Cash and cash equivalents	369,737	192,013	264,080	$ 350,692
Other assets	1,465,928		1,514,510
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenues	606,300	462,847
Consolidated net earnings	429,741	304,995
Total assets	25,404,932		25,470,558
Operating Segments [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	556,634	420,822
Consolidated net earnings	405,368	288,152
Total assets	25,333,266		25,399,230
Operating Segments [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	49,666	42,025
Consolidated net earnings	24,373	16,843
Total assets	71,666		71,328
Operating Segments [Member] | U.S. [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	511,157	376,198
Consolidated net earnings	375,718	259,578
Total assets	21,705,401		22,030,457
Operating Segments [Member] | U.S. [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	9,356	9,357
Consolidated net earnings	1,709	1,580
Total assets	19,046		19,363
Operating Segments [Member] | Other Americas [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	13,956	14,432
Consolidated net earnings	8,214	9,843
Total assets	1,015,963		919,381
Operating Segments [Member] | Other Americas [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	5,365	5,569
Consolidated net earnings	3,115	2,933
Operating Segments [Member] | Europe [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	16,789	18,769
Consolidated net earnings	11,619	10,938
Total assets	1,447,446		1,291,991
Operating Segments [Member] | Europe [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	22,269	18,393
Consolidated net earnings	15,306	11,795
Total assets	50,673		49,960
Operating Segments [Member] | Asia [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	14,732	11,423
Consolidated net earnings	9,817	7,793
Total assets	1,164,456		1,157,401
Operating Segments [Member] | Asia [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	12,676	8,706
Consolidated net earnings	4,243	535
Total assets	1,947		2,005
Reconciling Items [Member]
Segment Reporting Information [Line Items]
General and administrative expenses, net	(50,543)	(51,306)
Earnings from unconsolidated entities, net	58,311	31,042
Interest expense	(80,812)	(68,761)
Interest and other income, net	2,591	11,049
Gains on dispositions of investments in real estate, net	144,317	277,715
Foreign currency and derivative gains (losses) and related amortization, net	(14,211)	34,566
Losses on early extinguishment of debt, net	(1,052)	(16,289)
Consolidated net earnings (loss)	(191,399)	$ 48,208
Total assets	5,970,816		5,924,209
Investments in and advances to unconsolidated entities	4,866,664		4,755,620
Notes receivable backed by real estate	37,550		235,050
Cash and cash equivalents	369,737		264,080
Other assets	$ 265,533		$ 291,036

Supplemental Cash Flow Inform70

Supplemental Cash Flow Information - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Capitalization for equity based compensation expense	$ 6.2	$ 5.7
Interest paid in cash, net of amounts capitalized	$ 117.2	135.9
Cash paid for income taxes, net of refunds		$ 13.5