Prologis (PLD) 10-Q 27 Jul 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 24, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
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		531,863,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
ASSETS
Investments in real estate properties	$ 27,501,284	$ 27,119,330
Less accumulated depreciation	4,026,369	3,758,372
Net investments in real estate properties	23,474,915	23,360,958
Investments in and advances to unconsolidated entities	4,617,724	4,230,429
Assets held for sale or contribution	350,987	322,139
Notes receivable backed by real estate	19,536	32,100
Net investments in real estate	28,463,162	27,945,626
Cash and cash equivalents	271,354	807,316
Other assets	1,415,879	1,496,990
Total assets	30,150,395	30,249,932
Liabilities:
Debt	11,081,922	10,608,294
Accounts payable and accrued expenses	554,775	556,179
Other liabilities	653,460	627,319
Total liabilities	12,290,157	11,791,792
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 June 30, 2017, and December 31, 2016	78,235	78,235
Common stock: $0.01 par value; 531,338 shares and 528,671 shares issued and outstanding at June 30, 2017, and December 31, 2016, respectively	5,313	5,287
Additional paid-in capital	19,305,197	19,455,039
Accumulated other comprehensive loss	(934,196)	(937,473)
Distributions in excess of net earnings	(3,607,253)	(3,610,007)
Total Prologis, Inc. stockholders’ equity	14,847,296	14,991,081
Partners' capital:
Noncontrolling interests	3,012,942	3,467,059
Total equity	17,860,238	18,458,140
Total liabilities and equity	30,150,395	30,249,932
Prologis, L.P. [Member]
ASSETS
Investments in real estate properties	27,501,284	27,119,330
Less accumulated depreciation	4,026,369	3,758,372
Net investments in real estate properties	23,474,915	23,360,958
Investments in and advances to unconsolidated entities	4,617,724	4,230,429
Assets held for sale or contribution	350,987	322,139
Notes receivable backed by real estate	19,536	32,100
Net investments in real estate	28,463,162	27,945,626
Cash and cash equivalents	271,354	807,316
Other assets	1,415,879	1,496,990
Total assets	30,150,395	30,249,932
Liabilities:
Debt	11,081,922	10,608,294
Accounts payable and accrued expenses	554,775	556,179
Other liabilities	653,460	627,319
Total liabilities	12,290,157	11,791,792
Partners' capital:
Total partners’ capital	15,252,886	15,385,671
Noncontrolling interests	2,607,352	3,072,469
Total capital	17,860,238	18,458,140
Total liabilities and equity	30,150,395	30,249,932
Prologis, L.P. [Member] | Preferred [Member]
Partners' capital:
General partner	78,235	78,235
Prologis, L.P. [Member] | Common [Member]
Partners' capital:
General partner	14,769,061	14,912,846
Limited partners	165,826	150,173
Prologis, L.P. [Member] | Class A Common [Member]
Partners' capital:
Limited partners	$ 239,764	$ 244,417

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
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	531,338,000	528,671,000
Common stock, shares outstanding	531,338,000	528,671,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Rental	$ 447,960	$ 426,150	$ 887,844	$ 863,254
Rental recoveries	128,417	119,981	255,466	236,993
Strategic capital	180,654	53,535	237,699	104,538
Development management and other	9,152	2,489	14,329	3,670
Total revenues	766,183	602,155	1,395,338	1,208,455
Expenses:
Rental	147,794	140,725	300,450	287,306
Strategic capital	51,986	27,866	83,785	53,159
General and administrative	60,077	56,934	113,694	107,477
Depreciation and amortization	228,145	230,382	454,736	480,382
Other	2,909	3,900	5,515	8,585
Total expenses	490,911	459,807	958,180	936,909
Operating income	275,272	142,348	437,158	271,546
Other income (expense):
Earnings from unconsolidated entities, net	68,596	41,454	117,201	99,765
Interest expense	(75,354)	(76,455)	(148,266)	(157,267)
Interest and other income, net	1,892	1,527	4,677	4,118
Gains on dispositions of investments in real estate, net	83,006	200,350	180,331	344,667
Foreign currency and derivative losses, net	(20,055)	(10,335)	(27,455)	(24,546)
Gains (losses) on early extinguishment of debt, net	(30,596)	2,044	(30,596)	992
Total other income	27,489	158,585	95,892	267,729
Earnings before income taxes	302,761	300,933	533,050	539,275
Total income tax expense	14,781	5,142	24,381	20,679
Consolidated net earnings	287,980	295,791	508,669	518,596
Less net earnings attributable to noncontrolling interests	19,363	18,712	35,123	31,787
Net earnings attributable to controlling interests	268,617	277,079	473,546	486,809
Less preferred stock/unit dividends/distributions	1,674	1,696	3,348	3,385
Net earnings attributable to common stockholders/unitholders	$ 266,943	$ 275,383	$ 470,198	$ 483,424
Weighted average common shares/units outstanding – Basic	530,040	524,842	529,400	524,540
Weighted average common shares/units outstanding - Diluted	552,114	545,388	550,512	544,293
Net earnings per share attributable to common stockholders/unitholders - Basic	$ 0.50	$ 0.52	$ 0.89	$ 0.92
Net earnings per share attributable to common stockholders/unitholders - Diluted	0.50	0.52	0.88	0.92
Dividends per common share or unit	$ 0.44	$ 0.42	$ 0.88	$ 0.84
Prologis, L.P. [Member]
Revenues:
Rental	$ 447,960	$ 426,150	$ 887,844	$ 863,254
Rental recoveries	128,417	119,981	255,466	236,993
Strategic capital	180,654	53,535	237,699	104,538
Development management and other	9,152	2,489	14,329	3,670
Total revenues	766,183	602,155	1,395,338	1,208,455
Expenses:
Rental	147,794	140,725	300,450	287,306
Strategic capital	51,986	27,866	83,785	53,159
General and administrative	60,077	56,934	113,694	107,477
Depreciation and amortization	228,145	230,382	454,736	480,382
Other	2,909	3,900	5,515	8,585
Total expenses	490,911	459,807	958,180	936,909
Operating income	275,272	142,348	437,158	271,546
Other income (expense):
Earnings from unconsolidated entities, net	68,596	41,454	117,201	99,765
Interest expense	(75,354)	(76,455)	(148,266)	(157,267)
Interest and other income, net	1,892	1,527	4,677	4,118
Gains on dispositions of investments in real estate, net	83,006	200,350	180,331	344,667
Foreign currency and derivative losses, net	(20,055)	(10,335)	(27,455)	(24,546)
Gains (losses) on early extinguishment of debt, net	(30,596)	2,044	(30,596)	992
Total other income	27,489	158,585	95,892	267,729
Earnings before income taxes	302,761	300,933	533,050	539,275
Total income tax expense	14,781	5,142	24,381	20,679
Consolidated net earnings	287,980	295,791	508,669	518,596
Less net earnings attributable to noncontrolling interests	11,986	10,396	22,123	17,237
Net earnings attributable to controlling interests	275,994	285,395	486,546	501,359
Less preferred stock/unit dividends/distributions	1,674	1,696	3,348	3,385
Net earnings attributable to common stockholders/unitholders	$ 274,320	$ 283,699	$ 483,198	$ 497,974
Weighted average common shares/units outstanding – Basic	536,060	531,912	535,392	531,507
Weighted average common shares/units outstanding - Diluted	552,114	545,388	550,512	544,293
Net earnings per share attributable to common stockholders/unitholders - Basic	$ 0.50	$ 0.52	$ 0.89	$ 0.92
Net earnings per share attributable to common stockholders/unitholders - Diluted	0.50	0.52	0.88	0.92
Dividends per common share or unit	$ 0.44	$ 0.42	$ 0.88	$ 0.84

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Consolidated net earnings	$ 287,980	$ 295,791	$ 508,669	$ 518,596
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	3,162	(23,061)	42,829	(21,600)
Unrealized gains (losses) on derivative contracts, net	6,735	(5,926)	9,366	(21,818)
Comprehensive income	297,877	266,804	560,864	475,178
Net earnings attributable to noncontrolling interests	(19,363)	(18,712)	(35,123)	(31,787)
Other comprehensive income attributable to noncontrolling interests	(811)	(5,192)	(48,918)	(13,232)
Comprehensive income attributable to common stockholders / unitholders	277,703	242,900	476,823	430,159
Prologis, L.P. [Member]
Consolidated net earnings	287,980	295,791	508,669	518,596
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	3,162	(23,061)	42,829	(21,600)
Unrealized gains (losses) on derivative contracts, net	6,735	(5,926)	9,366	(21,818)
Comprehensive income	297,877	266,804	560,864	475,178
Net earnings attributable to noncontrolling interests	(11,986)	(10,396)	(22,123)	(17,237)
Other comprehensive income attributable to noncontrolling interests	(561)	(6,118)	(48,828)	(14,844)
Comprehensive income attributable to common stockholders / unitholders	$ 285,330	$ 250,290	$ 489,913	$ 443,097

Consolidated Statement of Equit

Consolidated Statement of Equity - 6 months ended Jun. 30, 2017 - 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, 2016	$ 18,458,140	$ 78,235	$ 5,287	$ 19,455,039	$ (937,473)	$ (3,610,007)	$ 3,467,059
Balance, shares at Dec. 31, 2016	528,671		528,671
Consolidated net earnings	$ 508,669					473,546	35,123
Effect of equity compensation plans	58,785		$ 17	39,879			18,889
Effect of equity compensation plans, shares			1,714
Capital contributions	135,857						135,857
Settlement of noncontrolling interests	(789,626)			(201,620)			(588,006)
Conversion of noncontrolling interests			$ 9	28,429			(28,438)
Conversion of noncontrolling interests, shares			953
Foreign currency translation gains (losses), net	42,829				(5,839)		48,668
Unrealized gains on derivative contracts, net	9,366				9,116		250
Reallocation of equity				(16,501)			16,501
Distributions and other	(563,782)			(29)		(470,792)	(92,961)
Balance at Jun. 30, 2017	$ 17,860,238	$ 78,235	$ 5,313	$ 19,305,197	$ (934,196)	$ (3,607,253)	$ 3,012,942
Balance, shares at Jun. 30, 2017	531,338		531,338

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Operating activities:
Consolidated net earnings	$ 508,669	$ 518,596
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(48,920)	(43,113)
Equity-based compensation awards	37,604	29,212
Depreciation and amortization	454,736	480,382
Earnings from unconsolidated entities, net	(117,201)	(99,765)
Distributions from unconsolidated entities	141,256	147,155
Net changes in operating receivables from unconsolidated entities	(117,675)	22,896
Amortization of debt premiums, net of debt issuance costs	(4,445)	(9,616)
Gains on dispositions of investments in real estate, net	(180,331)	(344,667)
Unrealized foreign currency and derivative losses, net	35,266	23,386
Losses (gains) on early extinguishment of debt, net	30,596	(992)
Deferred income tax expense (benefit)	2,268	(4,602)
Decrease in accounts receivable and other assets	61,452	14,327
Decrease in accounts payable and accrued expenses and other liabilities	(58,115)	(99,539)
Net cash provided by operating activities	745,160	633,660
Investing activities:
Real estate development	(715,294)	(775,545)
Real estate acquisitions	(202,088)	(136,107)
Tenant improvements and lease commissions on previously leased space	(75,342)	(88,659)
Nondevelopment capital expenditures	(37,253)	(30,096)
Proceeds from dispositions and contributions of real estate properties	836,107	1,284,126
Investments in and advances to unconsolidated entities	(144,894)	(145,287)
Return of investment from unconsolidated entities	133,677	533,333
Proceeds from repayment of notes receivable backed by real estate	32,100	201,250
Proceeds from the settlement of net investment hedges	7,541	16,768
Payments on the settlement of net investment hedges	(5,058)	0
Net cash provided by (used in) investing activities	(170,504)	859,783
Financing activities:
Proceeds from issuance of common stock	25,374	10,354
Dividends paid on common and preferred stock	(470,792)	(445,343)
Noncontrolling interests contributions	135,857	825
Noncontrolling interests distributions	(99,896)	(214,263)
Purchase of noncontrolling interests	(789,626)	(2,979)
Tax paid for shares withheld	(18,894)	(7,301)
Debt and equity issuance costs paid	(6,151)	(14,865)
Net payments on credit facilities	(33,745)	(3,515)
Repurchase and payments of debt	(2,002,519)	(1,277,311)
Proceeds from issuance of debt	2,134,041	517,045
Net cash used in financing activities	(1,126,351)	(1,437,353)
Effect of foreign currency exchange rate changes on cash	15,733	12,051
Net increase (decrease) in cash and cash equivalents	(535,962)	68,141
Cash and cash equivalents, beginning of period	807,316	264,080
Cash and cash equivalents, end of period	271,354	332,221
Prologis, L.P. [Member]
Operating activities:
Consolidated net earnings	508,669	518,596
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(48,920)	(43,113)
Equity-based compensation awards	37,604	29,212
Depreciation and amortization	454,736	480,382
Earnings from unconsolidated entities, net	(117,201)	(99,765)
Distributions from unconsolidated entities	141,256	147,155
Net changes in operating receivables from unconsolidated entities	(117,675)	22,896
Amortization of debt premiums, net of debt issuance costs	(4,445)	(9,616)
Gains on dispositions of investments in real estate, net	(180,331)	(344,667)
Unrealized foreign currency and derivative losses, net	35,266	23,386
Losses (gains) on early extinguishment of debt, net	30,596	(992)
Deferred income tax expense (benefit)	2,268	(4,602)
Decrease in accounts receivable and other assets	61,452	14,327
Decrease in accounts payable and accrued expenses and other liabilities	(58,115)	(99,539)
Net cash provided by operating activities	745,160	633,660
Investing activities:
Real estate development	(715,294)	(775,545)
Real estate acquisitions	(202,088)	(136,107)
Tenant improvements and lease commissions on previously leased space	(75,342)	(88,659)
Nondevelopment capital expenditures	(37,253)	(30,096)
Proceeds from dispositions and contributions of real estate properties	836,107	1,284,126
Investments in and advances to unconsolidated entities	(144,894)	(145,287)
Return of investment from unconsolidated entities	133,677	533,333
Proceeds from repayment of notes receivable backed by real estate	32,100	201,250
Proceeds from the settlement of net investment hedges	7,541	16,768
Payments on the settlement of net investment hedges	(5,058)	0
Net cash provided by (used in) investing activities	(170,504)	859,783
Financing activities:
Proceeds from issuance of common stock	25,374	10,354
Dividends paid on common and preferred stock	(489,519)	(465,071)
Noncontrolling interests contributions	135,857	825
Noncontrolling interests distributions	(81,169)	(195,386)
Purchase of noncontrolling interests	(789,626)	(2,128)
Tax paid for shares withheld	(18,894)	(7,301)
Debt and equity issuance costs paid	(6,151)	(14,865)
Net payments on credit facilities	(33,745)	(3,515)
Repurchase and payments of debt	(2,002,519)	(1,277,311)
Proceeds from issuance of debt	2,134,041	517,045
Net cash used in financing activities	(1,126,351)	(1,437,353)
Effect of foreign currency exchange rate changes on cash	15,733	12,051
Net increase (decrease) in cash and cash equivalents	(535,962)	68,141
Cash and cash equivalents, beginning of period	807,316	264,080
Cash and cash equivalents, end of period	$ 271,354	$ 332,221

Consolidated Statements of Capi

Consolidated Statements of Capital - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Dec. 31, 2016
Consolidated net earnings	$ 287,980	$ 508,669
Effect of equity compensation plans		58,785
Capital contributions		135,857
Unrealized gains on derivative contracts, net	$ 6,735	9,366
Non-controlling Interests [Member]
Consolidated net earnings		35,123
Effect of equity compensation plans		18,889
Capital contributions		135,857
Unrealized gains on derivative contracts, net		$ 250
Class A Common [Member]
Beginning balance, Units		8,900
Conversion of limited partners units, shares		8,600	8,700
Ending balance, Units	8,900	8,900	8,900
Prologis, L.P. [Member]
Beginning balance		$ 18,458,140
Consolidated net earnings	$ 287,980	508,669
Effect of equity compensation plans		58,785
Capital contributions		135,857
Settlement of noncontrolling interests		(789,626)
Foreign currency translation gains (losses), net		42,829
Unrealized gains on derivative contracts, net	6,735	9,366
Distributions and other		(563,782)
Ending balance	17,860,238	17,860,238	$ 18,458,140
Prologis, L.P. [Member] | Non-controlling Interests [Member]
Beginning balance		3,072,469
Consolidated net earnings		22,123
Capital contributions		135,857
Settlement of noncontrolling interests		(588,006)
Conversion of limited partners units		(9,685)
Foreign currency translation gains (losses), net		48,828
Distributions and other		(74,234)
Ending balance	2,607,352	2,607,352	3,072,469
Prologis, L.P. [Member] | Preferred [Member] | General Partner
Beginning balance		$ 78,235
Beginning balance, Units		1,565
Ending balance	$ 78,235	$ 78,235	$ 78,235
Ending balance, Units	1,565	1,565	1,565
Prologis, L.P. [Member] | Common [Member] | General Partner
Beginning balance		$ 14,912,846
Beginning balance, Units		528,671
Consolidated net earnings		$ 473,546
Effect of equity compensation plans		$ 39,896
Effect of equity compensation plans, shares		1,714
Settlement of noncontrolling interests		$ (201,620)
Conversion of limited partners units		$ 28,438
Conversion of limited partners units, shares		953
Foreign currency translation gains (losses), net		$ (5,839)
Unrealized gains on derivative contracts, net		9,116
Reallocation of capital		(16,501)
Distributions and other		(470,821)
Ending balance	$ 14,769,061	$ 14,769,061	$ 14,912,846
Ending balance, Units	531,338	531,338	528,671
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Beginning balance		$ 150,173
Beginning balance, Units		5,323
Consolidated net earnings		$ 5,322
Effect of equity compensation plans		$ 18,889
Effect of equity compensation plans, shares		1,320
Conversion of limited partners units		$ (18,753)
Conversion of limited partners units, shares		(677)
Foreign currency translation gains (losses), net		$ (66)
Unrealized gains on derivative contracts, net		102
Reallocation of capital		17,383
Distributions and other		(7,224)
Ending balance	$ 165,826	$ 165,826	$ 150,173
Ending balance, Units	5,966	5,966	5,323
Prologis, L.P. [Member] | Class A Common [Member] | Limited Partners [Member]
Beginning balance		$ 244,417
Beginning balance, Units		8,894
Consolidated net earnings		$ 7,678
Foreign currency translation gains (losses), net		(94)
Unrealized gains on derivative contracts, net		148
Reallocation of capital		(882)
Distributions and other		(11,503)
Ending balance	$ 239,764	$ 239,764	$ 244,417
Ending balance, Units	8,894	8,894	8,894

General

General	6 Months Ended
	Jun. 30, 2017
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 and development of logistics properties. Our Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities. See Note 10 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 June 30, 2017, the Parent owned an approximate 97.33% common general partnership interest in the Operating Partnership and 100% of the preferred units in the Operating Partnership. The remaining approximate 2.67% 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 held, including the number of Operating Partnership units into which Class A Units are convertible, compared to total Operating Partnership units outstanding at 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, 2016, as filed with the SEC, and other public information. Certain amounts included in the accompanying Consolidated Financial Statements for 2016 have been reclassified to conform to the 2017 financial statement presentation. This included two reclassifications made in the Consolidated Statements of Cash Flows. The first was a reclassification of distributions from our unconsolidated entities from investing activities New Accounting Pronouncements. New Accounting Standards Adopted In January 2017, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update that clarifies the definition of a business. The update adds further guidance that assists preparers in evaluating whether a transaction will be accounted for as an acquisition of an asset or a business. We expect most of our acquisitions of operating properties and portfolios of operating properties to qualify as asset acquisitions under the standard that permits the capitalization of acquisition costs to the basis of the acquired buildings. We adopted this standard on January 1, 2017, on a prospective basis, and the adoption did not have a significant impact on the Consolidated Financial Statements. New Accounting Standards Issued but not yet Adopted Revenue Recognition. 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. We are evaluating each of our revenue streams and their related accounting policies under the standard. Rental revenues and recoveries earned from leasing our operating properties will be assessed with the adoption of the lease accounting standard update discussed below. Our evaluation under the revenue recognition standard also includes recurring fees and promotes earned from our co-investment ventures as well as sales to third parties and unconsolidated co-investment ventures. While we do not expect changes in the recognition of recurring fees earned, we are evaluating both the timing and measurement of promotes that may result in recognition when they are probable of being earned. For sales to third parties, primarily dispositions of real estate in exchange for cash with few contingencies, we do not expect the standard to significantly impact the recognition of or accounting treatment. In February 2017, the FASB issued an additional accounting standard update that provides the accounting treatment for gains and losses from the derecognition of non-financial assets, including the accounting for partial sales. Upon adoption of the standard, we will recognize, on a prospective basis, the entire gain attributed to sales to unconsolidated co-investment ventures rather than the third-party share we recognize today. For deferred gains from existing partial sales recorded prior to the adoption of the standard we will continue to recognize these gains into earnings over the lives of the assets. Both the revenue recognition and derecognition of non-financial assets standards are effective for us on January 1, 2018. In addition to the recognition changes discussed above, expanded quantitative and qualitative disclosures regarding revenue recognition will be required for contracts that are subject to these standards. We expect to adopt the standards on a modified retrospective basis. Leases. In February 2016, the FASB issued an accounting standard update that provides the principles for the recognition, measurement, presentation and disclosure of leases. The accounting for lessors will remain largely unchanged from current GAAP; however, the standard requires that lessors expense, on an as-incurred basis, certain initial direct costs that are not incremental in negotiating a lease. Under existing standards, certain of these costs are capitalizable and therefore this new standard may result in certain of these costs being expensed as incurred after adoption. This standard may also impact the timing, recognition and disclosures related to our rental recoveries from tenants earned from leasing our operating properties. Under the standard, lessees apply a dual approach, classifying leases as either finance or operating leases. A lessee is required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months, regardless of their lease classification. We are a lessee on ground leases and office space leases. At December 31, 2016, we had approximately 90 ground and office space leases that will require us to measure and record a right-of-use asset and a lease liability upon adoption of the standard. There have been no significant changes to our ground and office space leases since December 31, 2016. The standard is effective for us on January 1, 2019. We are assessing the practical expedients available for implementation under the standard. If the practical expedients are elected, we would not be required to reassess (i) whether an expired or existing contract meets the definition of a lease; (ii) the lease classification at the adoption date for expired or existing leases; and (iii) whether costs previously capitalized as initial direct costs would continue to be amortized. The standard will also require new disclosures within the notes accompanying the Consolidated Financial Statements. We will continue to assess the method of adoption and the overall impact the adoption will have on the Consolidated Financial Statements.

Real Estate

Real Estate	6 Months Ended
	Jun. 30, 2017
Real Estate [Abstract]
Real Estate	NOTE 2. REAL ESTATE Investments in real estate properties consisted of the following (dollars and square feet in thousands): Square Feet Number of Buildings June 30, December 31, June 30, December 31, June 30, December 31, 2017 2016 2017 2016 2017 2016 Operating properties Buildings and improvements 332,282 331,210 1,752 1,776 $ 18,273,094 $ 17,905,914 Improved land 6,139,322 6,037,543 Development portfolio, including land costs: Prestabilized 5,878 8,256 22 29 526,442 798,233 Properties under development 22,325 19,539 55 60 962,851 633,849 Land (1) 1,081,897 1,218,904 Other real estate investments (2) 517,678 524,887 Total investments in real estate properties 27,501,284 27,119,330 Less accumulated depreciation 4,026,369 3,758,372 Net investments in real estate properties $ 23,474,915 $ 23,360,958 (1) Included in our investments in real estate at June 30, 2017, and December 31, 2016, were 5,460 and 5,892 acres of land, respectively. (2) Included in other real estate investments are: (i) non-logistics real estate; (ii) land parcels that are ground leased to third parties; (iii) our corporate office buildings; (iv) costs related to future development projects, including purchase options on land; (v) infrastructure costs related to projects we are developing on behalf of others; and (vi) earnest money deposits associated with potential acquisitions. Dispositions The following table summarizes our real estate disposition activity for the three and six months ended June 30 (dollars and square feet in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Contributions to unconsolidated co-investment ventures Number of properties 5 5 10 10 Square feet 875 1,308 3,644 4,019 Net proceeds (1) $ 115,617 $ 65,805 $ 513,106 $ 463,700 Gains on contributions, net (1) $ 37,702 $ 10,451 $ 126,068 $ 103,590 Dispositions to third parties Number of properties 20 72 38 99 Square feet 3,720 8,321 6,038 10,565 Net proceeds (1) (2) $ 216,290 $ 609,028 $ 459,679 $ 889,607 Gains on dispositions, net (1) (2) $ 45,304 $ 103,284 $ 54,263 $ 154,462 Total gains on contributions and dispositions, net $ 83,006 $ 113,735 $ 180,331 $ 258,052 Gains on redemption of investment in co-investment ventures (3) - 86,615 - 86,615 Total gains on dispositions of investments in real estate, net $ 83,006 $ 200,350 $ 180,331 $ 344,667 ( 1 ) Includes the contribution and disposition of land parcels. ( 2 ) Includes the sale of our investment in European Logistics Venture 1 (“ELV”) in 2017. See Note 3 for more information on this transaction. (3) 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) and $200.0 million, respectively. The amounts received for the redemptions were included in Return of Investment from Unconsolidated Entities

Unconsolidated Entities

Unconsolidated Entities	6 Months Ended
	Jun. 30, 2017
Equity Method Investments And Joint Ventures [Abstract]
Unconsolidated Entities	NOTE 3. 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 6 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 primarily 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): June 30, December 31, 2017 2016 Unconsolidated co-investment ventures $ 4,382,825 $ 4,057,524 Other ventures 234,899 172,905 Totals $ 4,617,724 $ 4,230,429 Unconsolidated Co-Investment Ventures The amounts recognized in Strategic Capital Revenues Earnings from Unconsolidated Entities, Net Strategic Capital Expenses The following table summarizes the amounts we recognized in the Consolidated Statements of Income related to the unconsolidated co-investment ventures (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Strategic capital revenues from unconsolidated co-investment ventures, net: U.S. (1) $ 130,165 $ 9,179 $ 141,223 $ 18,174 Other Americas (1) 9,864 5,693 15,915 11,079 Europe 25,957 25,435 52,127 47,768 Asia 14,064 12,654 26,719 26,255 Total strategic capital revenues from unconsolidated co-investment ventures, net $ 180,050 $ 52,961 $ 235,984 $ 103,276 Earnings from unconsolidated co-investment ventures, net: U.S. $ 1,963 $ 718 $ 6,909 $ 7,377 Other Americas 8,933 7,509 15,503 12,808 Europe 35,859 29,014 65,764 60,593 Asia 14,410 3,693 18,439 7,348 Total earnings from unconsolidated co-investment ventures, net $ 61,165 $ 40,934 $ 106,615 $ 88,126 (1) In June 2017, we earned promotes from USLF based on the venture’s cumulative returns to its investors over the last three years and FIBRA Prologis based on the venture’s cumulative returns to its investors over the past year. The third parties’ share of the promotes that were recognized in Strategic Capital Revenues The following tables summarize the operating information and financial position of our unconsolidated co-investment ventures (not our proportionate share), as presented at our adjusted basis derived from the ventures’ U.S. GAAP information: June 30, December 31, June 30, (dollars and square feet in millions) 2017 2016 2016 U.S.: Number of ventures 1 1 1 Number of operating properties owned 384 369 379 Square feet 52 50 49 Total assets $ 4,346 $ 4,238 $ 4,228 Third-party debt $ 1,400 $ 1,414 $ 1,425 Total liabilities $ 1,620 $ 1,540 $ 1,504 Our investment balance (1) $ 545 $ 435 $ 518 Our weighted average ownership (2) 14.2 % 14.9 % 17.6 % Other Americas: Number of ventures 2 2 2 Number of operating properties owned 215 213 209 Square feet 43 42 41 Total assets $ 2,791 $ 2,793 $ 2,694 Third-party debt $ 728 $ 739 $ 677 Total liabilities $ 812 $ 814 $ 772 Our investment balance (1) $ 836 $ 845 $ 848 Our weighted average ownership (2) 44.0 % 43.9 % 43.6 % Europe: Number of ventures (3) (4) 4 4 4 Number of operating properties owned 702 700 690 Square feet 164 163 160 Total assets $ 12,178 $ 10,853 $ 11,188 Third-party debt $ 2,595 $ 2,446 $ 2,566 Total liabilities $ 3,536 $ 3,283 $ 3,521 Our investment balance (1) $ 2,505 $ 2,327 $ 2,464 Our weighted average ownership (2) 33.0 % 35.1 % 36.2 % Asia: Number of ventures 2 2 2 Number of operating properties owned 83 85 77 Square feet 36 36 34 Total assets $ 5,528 $ 5,173 $ 5,346 Third-party debt $ 2,088 $ 1,947 $ 1,952 Total liabilities $ 2,376 $ 2,239 $ 2,250 Our investment balance (1) $ 497 $ 451 $ 498 Our weighted average ownership (2) 15.1 % 15.1 % 15.0 % Total: Number of ventures 9 9 9 Number of operating properties owned 1,384 1,367 1,355 Square feet 295 291 284 Total assets $ 24,843 $ 23,057 $ 23,456 Third-party debt $ 6,811 $ 6,546 $ 6,620 Total liabilities $ 8,344 $ 7,876 $ 8,047 Our investment balance (1) $ 4,383 $ 4,058 $ 4,328 Our weighted average ownership (2) 26.9 % 27.9 % 28.8 % Three Months Ended June 30, Six Months Ended June 30, (in millions) 2017 2016 2017 2016 Revenues: U.S. $ 105 $ 98 $ 209 $ 196 Other Americas 66 59 130 116 Europe 248 248 492 492 Asia 89 86 177 162 Total revenues $ 508 $ 491 $ 1,008 $ 966 Net earnings: U.S. $ 15 $ 6 $ 51 $ 36 Other Americas 22 19 39 33 Europe 93 68 166 141 Asia 93 22 117 44 Total net earnings $ 223 $ 115 $ 373 $ 254 (1) The difference between our ownership interest of a venture’s equity and our investment balance at June 30, 2017, and December 31, 2016, 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 ($459.4 million and $469.9 million, respectively); (ii) recording additional costs associated with our investment in a venture ($125.0 million and $124.1 million, respectively); and (iii) advances to a venture ($300.5 million and $166.1 million, respectively), which increased primarily from the gross promotes that were earned during the second quarter of 2017 and expected to be paid in the third quarter of 2017 . (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) In January 2017, we sold our investment in ELV to our fund partner for $84.3 million and ELV contributed its properties to PTELF in exchange for equity interests. (4) In February 2017, we formed the Prologis United Kingdom Logistics Venture (“UKLV”), an unconsolidated co-investment venture in which we have a 15.0% ownership interest. UKLV will acquire land, develop buildings and operate and hold logistics real estate assets in the United Kingdom (“U.K.”). Upon formation, we, along with our venture partner, committed £380.0 million ($493.2 million at June 30, 2017), of which our share is £57.0 million ($74.0 million at June 30, 2017). During the six months ended June 30, 2017, we contributed 1.4 million square feet of stabilized properties, 0.5 million square feet of properties under development and 144.8 acres of land for £269.5 million ($336.4 million). We expect to continue to contribute properties and land into UKLV. In July 2017, we contributed 190 operating properties formerly owned by Prologis North American Industrial Fund (“NAIF”), totaling approximately 39 million square feet, for an aggregate purchase price of $2.8 billion, to USLF, our unconsolidated co-investment venture. We received cash proceeds of $720 million and additional units, which increased our ownership interest in USLF to approximately 27% and USLF assumed $956.0 million of secured debt. As a result of this transaction, we expect to record a gain of approximately $480 million, net of a deferral due to our ongoing investment, in the third quarter of 2017. Equity Commitments Related to Certain Unconsolidated Co-Investment Ventures The following table summarizes the remaining equity commitments at June 30, 2017 (in millions): Equity Commitments Expiration Date for Remaining Commitments Prologis Venture Partners Total Prologis Targeted Europe Logistics Fund (1) $ - $ 346 $ 346 2017 - 2018 Prologis United Kingdom Logistics Venture (2) 35 201 236 2021 Prologis China Logistics Venture 294 1,665 1,959 2017 Totals $ 329 $ 2,212 $ 2,541 (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) As discussed above, this co-investment venture was formed in February 2017. Equity commitments are denominated in British pounds sterling and reported in U.S. dollars based on an exchange rate of $1.30 U.S. dollars to the British pound sterling.

Assets Held for Sale or Contrib

Assets Held for Sale or Contribution	6 Months Ended
	Jun. 30, 2017
Real Estate Assets Held For Development And Sale [Abstract]
Assets Held for Sale or Contribution	NOTE 4. ASSETS HELD FOR SALE OR CONTRIBUTION We have investments in certain real estate properties that met the criteria to be classified as held for sale or contribution at June 30, 2017, and December 31, 2016. These properties are expected to be sold to third parties or contributed to unconsolidated co-investment ventures within twelve months. The amounts included in Assets Held for Sale or Contribution Assets held for sale or contribution consisted of the following (dollars and square feet in thousands): June 30, December 31, 2017 2016 Number of operating properties 22 13 Square feet 4,886 4,167 Total assets held for sale or contribution $ 350,987 $ 322,139 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 6,281 $ 4,984

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Debt	NOTE 5. 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): June 30, 2017 December 31, 2016 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding Credit facilities - $ - 1.0 % $ 35,023 Senior notes 3.1 % 6,727,450 3.3 % 6,417,492 Term loans 1.6 % 1,954,091 1.4 % 1,484,523 Unsecured other 6.1 % 14,346 6.1 % 14,478 Secured mortgages (3) 3.9 % 1,983,623 4.9 % 979,585 Secured mortgages of consolidated entities (3) 2.7 % 402,412 3.0 % 1,677,193 Totals 3.0 % $ 11,081,922 3.2 % $ 10,608,294 (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 the debt outstanding. (2) Included in the outstanding balances are borrowings denominated in non-U.S. dollars, principally: euro ($3.6 billion), Japanese yen ($1.5 billion), British pounds sterling ($0.6 billion) and Canadian dollars ($0.4 billion). (3) As discussed in Note 6, in March 2017 we acquired all of our partner’s interest in NAIF, therefore, the related secured mortgage debt of $956.0 million at June 30, 2017 was wholly-owned and reported as secured mortgages. In July 2017, this debt was assumed by USLF in conjunction with our contribution of the associated real estate properties, as discussed in Note 3. Credit Facilities We have a global senior credit facility (the “Global Facility”), under which we may draw in British pounds sterling, Canadian dollars, euro, Japanese yen and U.S. dollars on a revolving basis up to $3.0 billion (subject to currency fluctuations). We have the ability to increase the Global Facility to $3.8 billion, subject to currency fluctuations and obtaining additional lender commitments. Pricing under the Global Facility, including the spread over LIBOR, facility fees and letter of credit fees, varies based on the public debt ratings of the Operating Partnership. The Global Facility is scheduled to mature in April 2020; however, we may extend the maturity date for six months on two occasions, subject to the satisfaction of certain conditions and payment of extension fees. We also have a Japanese yen revolver (the “Revolver”). In February 2017, we renewed and amended the Revolver to increase our availability from ¥45.0 billion to ¥50.0 billion ($446.7 million at June 30, 2017). We have the ability to increase the Revolver to ¥65.0 billion ($580.6 million at June 30, 2017), subject to obtaining additional lender commitments. Pricing under the Revolver, including the spread over LIBOR, facility fees and letter of credit fees, varies based on the public debt ratings of the Operating Partnership. The Revolver is scheduled to mature in February 2021; however, we may extend the maturity date for one year, subject to the satisfaction of certain conditions and payment of extension fees. We refer to the Global Facility and the Revolver, collectively, as our “Credit Facilities.” The following table summarizes information about our Credit Facilities at June 30, 2017 (in millions): Aggregate lender commitments $ 3,452 Less: Borrowings outstanding - Outstanding letters of credit 37 Current availability $ 3,415 Senior Notes In June 2017, we issued £500.0 million ($645.3 million) of senior notes bearing an interest rate of 2.25%, maturing in 2029, at 99.94% of par value for an all-in-rate of 2.30%. Following the issuance, we paid cash of $652.0 million to redeem $618.3 million of previously issued senior notes before the maturity date in an effort to reduce our borrowing costs and extend our debt maturities. As a result, we recognized a loss in Gains (Losses) on Early Extinguishment of Debt, Net Term Loans In March 2017, we entered into an unsecured senior term loan agreement (the “2017 Yen Term Loan”) under which we can draw in Japanese yen, of which ¥7.2 billion ($64.3 million at June 30, 2017) matures in March 2027 and bears an interest rate of 0.92% and ¥4.8 billion ($42.9 million at June 30, 2017) matures in March 2028 and bears an interest rate of 1.01%. In the first quarter of 2017, we borrowed ¥12.0 billion ($107.2 million), causing the 2017 Yen Term Loan to be fully drawn at June 30, 2017. In May 2017, we renewed and amended our existing senior term loan agreement (the “2017 Term Loan,” formerly the “Euro Term Loan”) under which loans can be obtained in British pounds sterling, euro, Japanese yen and U.S. dollars in an aggregate amount not to exceed $500.0 million. We may increase the borrowings up to $1.0 billion, subject to obtaining additional lender commitments. We may also pay down and reborrow under this term loan. The 2017 Term Loan bears an interest rate of LIBOR plus 0.90% and is scheduled to mature in May 2020; however, we may extend the maturity date twice, by one year each, subject to the satisfaction of certain conditions and the payment of an extension fee. In the second quarter of 2017, we borrowed $500.0 million, causing the 2017 Term Loan to be fully drawn at June 30, 2017. In connection with the contribution of properties to USLF in July 2017, we used the net proceeds to pay down the balance outstanding on our 2017 Term Loan. Long-Term Debt Maturities Principal payments due on our debt, for the remainder of 2017 and for each of the years in the period ending December 31, 2026, and thereafter were as follows at June 30, 2017 (in thousands): Unsecured Senior Term Loans Secured Maturity Notes and Other Mortgage Debt Total 2017 (1) $ - $ 491 $ - $ 491 2018 175,000 1,009 118,063 294,072 2019 - 1,091 610,281 611,372 2020 (2) 887,241 501,155 446,318 1,834,714 2021 1,298,840 954 436,544 1,736,338 2022 798,840 447,396 141,673 1,387,909 2023 850,000 913,201 163,284 1,926,485 2024 798,840 882 174,735 974,457 2025 750,000 958 133,420 884,378 2026 570,600 599 139,920 711,119 Thereafter 648,903 112,851 2,384 764,138 Subtotal 6,778,264 1,980,587 2,366,622 11,125,473 Premiums (discounts), net (22,648 ) - 28,391 5,743 Debt issuance costs, net (28,166 ) (12,150 ) (8,978 ) (49,294 ) Totals $ 6,727,450 $ 1,968,437 $ 2,386,035 $ 11,081,922 (1) We expect to repay the amounts maturing in 2017 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 2020 maturities is the 2017 Term Loan that can be extended until 2022. Debt Covenants We have approximately $6.7 billion of senior notes and $2.0 billion of term loans outstanding at June 30, 2017, under three separate indentures, as supplemented, which are subject to certain financial covenants. We are also subject to financial covenants under our Credit Facilities and certain secured mortgage debt. At June 30, 2017, we were in compliance with all financial covenants.

Noncontrolling Interests

Noncontrolling Interests	6 Months Ended
	Jun. 30, 2017
Noncontrolling Interest [Abstract]
Noncontrolling Interests	NOTE 6. 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 redeemable for cash or, at our option, shares of the Parent’s common stock, 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 convertible or redeemable. 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 ownership percentages and noncontrolling interests and the consolidated entities’ total assets and liabilities at June 30, 2017, and December 31, 2016 (dollars in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities 2017 2016 2017 2016 2017 2016 2017 2016 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 2,522,506 $ 2,424,800 $ 6,105,549 $ 6,201,278 $ 496,086 $ 797,593 Prologis North American Industrial Fund (1) 100.0 % 66.1 % - 486,648 - 2,479,072 - 1,038,708 Prologis Brazil Logistics Partners Fund I (2) 100.0 % 50.0 % - 61,836 - 131,581 - 720 Other consolidated entities (3) various various 84,846 99,185 849,870 866,821 37,488 34,073 Prologis, L.P. noncontrolling interests 2,607,352 3,072,469 6,955,419 9,678,752 533,574 1,871,094 Limited partners in Prologis, L.P. (4) (5) 405,590 394,590 - - - - Prologis, Inc. noncontrolling interests $ 3,012,942 $ 3,467,059 $ 6,955,419 $ 9,678,752 $ 533,574 $ 1,871,094 (1) In March 2017, we acquired all of our partner’s interest for $710.2 million. The difference between the amount we paid and the noncontrolling interest balance was adjusted through Additional Paid-in Capital (2) In March 2017, we acquired all of our partner’s interest for $79.8 million. The difference between the amount we paid and the noncontrolling interest balance was adjusted through Additional Paid-in Capital (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 June 30, 2017, and December 31, 2016, limited partnership units were redeemable for cash or, at our option, 1.6 million shares of the Parent’s common stock. During the first six months of 2017, limited partnership units were redeemed for 265 thousand shares of the Parent’s common stock. (4) We had 8.9 million Class A Units that were convertible into 8.6 million and 8.7 million common limited partnership units of the Operating Partnership at June 30, 2017 and December 31, 2016, respectively. (5) At June 30, 2017, and December 31, 2016, excluding the Class A Units, there were common limited partnership units in the Operating Partnership outstanding that were redeemable for cash or, at our option, 4.1 million shares and 4.6 million shares of the Parent’s common stock with a fair value of $242.2 million and $241.8 million, respectively, based on the closing stock price of the Parent’s common stock. During the first six months of 2017, unitholders redeemed 0.7 million common limited partnership units for an equal number of shares of the Parent’s common stock with a value of $18.8 million. At June 30, 2017, and December 31, 2016, there were 3.7 million and 2.2 million LTIP Units (as defined in Note 7) outstanding, respectively, associated with our long-term compensation plan that are convertible into common units of the Operating Partnership after they vest and other applicable conditions are met.

Long-Term Compensation

Long-Term Compensation	6 Months Ended
	Jun. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Long-Term Compensation	NOTE 7. LONG-TERM COMPENSATION Prologis Outperformance Plan (“POP”) Participation points represent a portion of a compensation pool that can be earned if and when certain performance criteria are met under the POP for the applicable performance period. We granted participation points for the 2017 – 2019 performance period in January 2017, with a fair value of $20.4 million using a Monte Carlo valuation model that assumed a risk-free interest rate of 1.49% and an expected volatility of 22.2%. The POP performance criteria were met for the 2014 – 2016 performance period, which resulted in awards for this performance period being earned. An aggregate performance pool of $62.2 million was awarded in January 2017 in the form of common stock or vested POP LTIP Units. Prologis Promote Plan (“PPP”) The following table details the equity awards granted under the PPP for the six months ended June 30 (in thousands): 2017 2016 RSUs granted 88 53 Grant date fair value of RSUs granted $ 4,800 $ 2,300 LTIP Units granted 203 114 Grant date fair value of LTIP Units granted $ 11,100 $ 4,900 Prologis Outperformance Plan Operating Partnership Long-Term Incentive Plan Units (“POP LTIP Units”) The following table summarizes the activity for the unvested POP LTIP Units for the six months ended June 30, 2017 (units in thousands): Number of Unvested POP LTIP Units Balance at January 1, 2017 3,490 Granted 38 Vested POP LTIP Units (1) (698 ) Forfeited (576 ) Balance at June 30, 2017 2,254 (1) Vested units were based on the POP performance criteria being met for the 2014 – 2016 performance period and represented the earned award amount. Vested units are included in LTIP Units in the table below. Any excess outstanding unvested POP LTIP Units for the 2014 – 2016 performance period were forfeited to the extent not earned. Operating Partnership Long-Term Incentive Plan Units (“LTIP Units”) The following table summarizes the activity for LTIP Units for the six months ended June 30, 2017 (units in thousands): Number of Weighted Average Number of LTIP Units Grant-Date Fair Value LTIP Units Vested Balance at January 1, 2017 2,219 $ 40.81 743 Granted 1,032 Vested POP LTIP Units 698 Conversion to common limited partnership units (227 ) Balance at June 30, 2017 3,722 $ 45.55 1,835 Restricted Stock Units (“RSUs”) The following table summarizes the activity for RSUs for the six months ended June 30, 2017 (units in thousands): Number of Weighted Average Number of RSUs Grant-Date Fair Value RSUs Vested Balance at January 1, 2017 1,617 $ 40.58 125 Granted 757 Vested and distributed (783 ) Forfeited (46 ) Balance at June 30, 2017 1,545 $ 45.29 106 Stock Options We have 1.0 million stock options outstanding and exercisable at June 30, 2017, with a weighted average exercise price of $31.14. The aggregate intrinsic value of exercised options was $19.8 million and $10.0 million for the six months ended June 30, 2017, and 2016, respectively. No stock options were granted in 2017 or 2016.

Earnings Per Common Share or Un

Earnings Per Common Share or Unit	6 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Common Share or Unit	NOTE 8. 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 Six Months Ended June 30, June 30, Prologis, Inc. 2017 2016 2017 2016 Net earnings attributable to common stockholders – Basic $ 266,943 $ 275,383 $ 470,198 $ 483,424 Net earnings attributable to redeemable limited partnership unitholders (1) 7,798 9,085 13,765 15,694 Adjusted net earnings attributable to common stockholders – Diluted $ 274,741 $ 284,468 $ 483,963 $ 499,118 Weighted average common shares outstanding – Basic 530,040 524,842 529,400 524,540 Incremental weighted average effect on redemption of limited partnership units (1) 16,364 17,703 16,409 17,623 Incremental weighted average effect of equity awards 5,710 2,843 4,703 2,130 Weighted average common shares outstanding – Diluted (2) 552,114 545,388 550,512 544,293 Net earnings per share attributable to common stockholders: Basic $ 0.50 $ 0.52 $ 0.89 $ 0.92 Diluted $ 0.50 $ 0.52 $ 0.88 $ 0.92 Three Months Ended Six Months Ended June 30, June 30, Prologis, L.P. 2017 2016 2017 2016 Net earnings attributable to common unitholders $ 274,320 $ 283,699 $ 483,198 $ 497,974 Net earnings attributable to Class A common unitholders (4,347 ) (4,619 ) (7,678 ) (8,129 ) Net earnings attributable to common unitholders – Basic $ 269,973 $ 279,080 $ 475,520 $ 489,845 Net earnings attributable to Class A common unitholders 4,347 4,619 7,678 8,129 Net earnings attributable to limited partnership unitholders 421 768 765 1,143 Adjusted net earnings attributable to common unitholders – Diluted $ 274,741 $ 284,467 $ 483,963 $ 499,117 Weighted average common partnership units outstanding – Basic 536,060 531,912 535,392 531,507 Incremental weighted average effect on conversion of Class A Units 8,626 8,798 8,645 8,821 Incremental weighted average effect on redemption of limited partnership units into common stock of Prologis, Inc. 1,718 1,835 1,772 1,835 Incremental weighted average effect of equity awards of Prologis, Inc. 5,710 2,843 4,703 2,130 Weighted average common partnership units outstanding – Diluted (2) 552,114 545,388 550,512 544,293 Net earnings per unit attributable to common unitholders: Basic $ 0.50 $ 0.52 $ 0.89 $ 0.92 Diluted $ 0.50 $ 0.52 $ 0.88 $ 0.92 (1) Earnings allocated to the redeemable Operating Partnership units not held by the Parent has been included in the numerator and redeemable 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) Our total potentially dilutive shares and units outstanding consisted of the following: Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Total weighted average potentially dilutive limited partnership units 10,344 10,633 10,417 10,656 Total potentially dilutive stock awards 9,355 7,176 8,583 6,854 Total Prologis, L.P. 19,699 17,809 19,000 17,510 Limited partners in Prologis, L.P. 6,020 7,070 5,992 6,967 Total Prologis, Inc. 25,719 24,879 24,992 24,477

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Financial Instruments and Fair Value Measurements	NOTE 9. FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Derivative Financial Instruments In the normal course of business, our operations are exposed to market risks, including the effect of changes in foreign currency exchange rates and interest rates. To manage these risks, we may enter into 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. Our derivative financial instruments are customized 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, 2016. The following table presents the fair value and classification of our derivative instruments (in thousands): June 30, 2017 December 31, 2016 Asset Liability Asset Liability Net investment hedges British pound sterling denominated $ - $ - $ 7,439 $ - Canadian dollar denominated - 3,904 1,245 - Forwards and options (1) British pound sterling denominated 8,401 4,048 16,985 - Canadian dollar denominated 31 546 831 197 Euro denominated 538 6,101 10,933 - Yen denominated 6,919 1,512 9,246 1,071 Interest rate hedges 3,639 - 435 - Total fair value of derivatives $ 19,528 $ 16,111 $ 47,114 $ 1,268 (1) As discussed below, these foreign currency options are not designated as hedges. We recognized unrealized losses of $18.8 million and $32.5 million for the three and six months ended June 30, 2017, respectively, from the change in value of our outstanding foreign currency options within Foreign Currency and Derivative Losses, 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 Losses, 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 in Foreign Currency and Derivative Losses, Net The following tables summarize the activity in our foreign currency contracts for the six months ended June 30 (in millions, except for weighted average forward rates and number of active contracts): 2017 Foreign Currency Contracts Local Currency Net Investment Hedges Forwards and Options CAD GBP CAD EUR GBP JPY Notional amounts at January 1 $ 133 £ 31 $ 50 € 174 £ 48 ¥ 15,500 New contracts 133 100 - 56 107 4,000 Matured, expired or settled contracts (133 ) (131 ) (15 ) (50 ) (31 ) (3,500 ) Notional amounts at June 30 $ 133 £ - $ 35 € 180 £ 124 ¥ 16,000 Foreign Currency Contracts U.S. Dollar Net Investment Hedges Forwards and Options Notional amounts at January 1 $ 100 $ 46 $ 38 $ 197 $ 78 $ 144 New contracts 99 127 - 63 137 38 Matured, expired or settled contracts (100 ) (173 ) (12 ) (56 ) (46 ) (31 ) Notional amounts at June 30 $ 99 $ - $ 26 $ 204 $ 169 $ 151 Weighted average forward rate at June 30 1.34 - 1.32 1.13 1.33 106.51 Active contracts at June 30 2 - 12 26 22 32 2016 Foreign Currency Contracts Local Currency Net Investment Hedges Forwards and Options CAD GBP JPY EUR GBP JPY Other Notional amounts at January 1 $ - £ 238 ¥ - € 275 £ 97 ¥ 12,840 New contracts 133 60 11,189 171 - 11,460 Matured, expired or settled contracts - (60 ) (11,189 ) (75 ) (24 ) (3,120 ) Notional amounts at June 30 $ 133 £ 238 ¥ - € 371 £ 73 ¥ 21,180 Foreign Currency Contracts U.S. Dollar Net Investment Hedges Forwards and Options (1) Notional amounts at January 1 $ - $ 386 $ - $ 310 $ 148 $ 109 $ 50 New contracts 100 85 99 192 - 108 15 Matured, expired or settled contracts - (100 ) (99 ) (85 ) (36 ) (27 ) (15 ) Notional amounts at June 30 $ 100 $ 371 $ - $ 417 $ 112 $ 190 $ 50 (1) During the Foreign Currency and Derivative Losses, Net. Interest Rate We may 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 Interest Expense At June 30, 2017, and December 31, 2016, we had three interest rate swaps outstanding with a notional amount of $271.2 million. We did not enter into or settle any interest rate swaps during the six months ended June 30, 2017, or 2016. 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 June 30, Six Months Ended June 30, 2017 2016 2017 2016 Derivative net investment hedges (1) $ 7,197 $ 21,512 $ 9,491 $ 29,420 Interest rate and cash flow hedges (2) 4,559 (2,703 ) 4,988 (13,824 ) Our share of derivatives from unconsolidated co-investment ventures 2,176 (3,223 ) 4,378 (7,994 ) Total derivative instruments 13,932 15,586 18,857 7,602 Nonderivative net investment hedges (3) (4) (229,666 ) 91,416 (274,192 ) (69,773 ) Total derivative and nonderivative hedging instruments $ (215,734 ) $ 107,002 $ (255,335 ) $ (62,171 ) (1) We received $0.7 million and $2.5 million for the three and six months ended June 30, 2017, respectively, upon the settlement of net investment hedges. We received $15.9 million and $16.8 million for the three and six months ended June 30, 2016, respectively, upon the settlement of net investment hedges. (2) The amounts reclassified to interest expense for the three and six months ended June 30, 2017, were $1.5 million and $2.9 million, respectively. The amounts reclassified to interest expense for the three and six months ended June 30, 2016, were $1.1 million and $2.1 million, respectively. For the next 12 months from June 30, 2017, we estimate an additional expense of $4.8 million will be reclassified to Interest Expense (3) At June 30, 2017, and December 31, 2016, we had €3.1 billion ($3.5 billion) and €3.2 billion ($3.4 billion) of debt, net of accrued interest, respectively, designated as nonderivative financial instrument hedges of our net investment in international subsidiaries. We recognized unrealized losses of $7.2 million and $11.3 million in Foreign Currency and Derivative Losses, Net (4) In June 2017, we issued £500.0 million ($645.3 million) of debt, as discussed in Note 5, and designated the debt as a nonderivative financial instrument hedge of our net investment in international subsidiaries. We had no gains or losses for the three and six months ended June 30, 2017. Fair Value Measurements There have been no significant changes in our policy from what was disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2016. Fair Value Measurements on a Recurring Basis At June 30, 2017, and December 31, 2016, 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 June 30, 2017, and December 31, 2016, 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 June 30, 2017, or December 31, 2016. Fair Value of Financial Instruments At June 30, 2017, and December 31, 2016, 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 June 30, 2017, and December 31, 2016, as compared with those in effect when the debt was issued or assumed. 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): June 30, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ - $ - $ 35,023 $ 35,061 Senior notes 6,727,450 7,216,569 6,417,492 6,935,485 Term loans and unsecured other 1,968,437 1,986,654 1,499,001 1,510,661 Secured mortgages 1,983,623 2,063,821 979,585 1,055,020 Secured mortgages of consolidated entities 402,412 402,348 1,677,193 1,683,489 Total debt $ 11,081,922 $ 11,669,392 $ 10,608,294 $ 11,219,716

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Business Segments	NOTE 10. 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 and development of operating properties and is the largest component of our revenues 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 business 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 utilize the following: (i) our land bank; (ii) the development expertise of our local teams; (iii) our customer relationships; and (iv) our in-depth knowledge in connection with our development activities. 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 periodically 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 business segment based on geographic location. Reconciliations are presented below for: (i) each reportable business segment’s revenues from external customers to Total Revenues Operating Income Earnings Before Income Taxes Total Assets Total Revenues, Operating Income, Earnings Before Income Taxes Total Assets Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Revenues: Real estate operations segment: U.S. $ 529,841 $ 501,707 $ 1,053,988 $ 1,012,864 Other Americas 16,444 15,083 31,533 29,018 Europe 22,076 19,533 40,307 36,008 Asia 17,168 12,297 31,811 26,027 Total real estate operations segment 585,529 548,620 1,157,639 1,103,917 Strategic capital segment: U.S. 130,677 9,580 142,585 18,936 Other Americas 9,864 5,693 15,915 11,079 Europe 25,973 25,526 52,235 48,109 Asia 14,140 12,736 26,964 26,414 Total strategic capital segment 180,654 53,535 237,699 104,538 Total revenues $ 766,183 $ 602,155 $ 1,395,338 $ 1,208,455 Segment net operating income: Real estate operations segment: U.S. $ 396,274 $ 369,786 $ 780,374 $ 745,503 Other Americas 10,384 10,517 20,366 18,710 Europe 16,401 15,328 29,259 26,633 Asia 11,767 8,364 21,675 17,180 Total real estate operations segment 434,826 403,995 851,674 808,026 Strategic capital segment: U.S. 99,668 826 101,607 2,536 Other Americas 7,587 3,052 10,732 6,188 Europe 16,342 18,450 32,732 34,070 Asia 5,071 3,341 8,843 8,585 Total strategic capital segment 128,668 25,669 153,914 51,379 Total segment net operating income 563,494 429,664 1,005,588 859,405 Reconciling items: General and administrative expenses 60,077 56,934 113,694 107,477 Depreciation and amortization expenses 228,145 230,382 454,736 480,382 Operating income 275,272 142,348 437,158 271,546 Earnings from unconsolidated entities, net 68,596 41,454 117,201 99,765 Interest expense (75,354 ) (76,455 ) (148,266 ) (157,267 ) Interest and other income, net 1,892 1,527 4,677 4,118 Gains on dispositions of investments in real estate, net 83,006 200,350 180,331 344,667 Foreign currency and derivative losses, net (20,055 ) (10,335 ) (27,455 ) (24,546 ) Gains (losses) on early extinguishment of debt, net (30,596 ) 2,044 (30,596 ) 992 Earnings before income taxes $ 302,761 $ 300,933 $ 533,050 $ 539,275 June 30, December 31, 2017 2016 Assets: Real estate operations segment: U.S. $ 21,295,808 $ 21,286,422 Other Americas 1,052,052 978,476 Europe 1,139,882 1,346,589 Asia 1,147,246 936,462 Total real estate operations segment 24,634,988 24,547,949 Strategic capital segment: U.S. 17,454 18,090 Europe 44,680 47,635 Asia 958 1,301 Total strategic capital segment 63,092 67,026 Total segment assets 24,698,080 24,614,975 Reconciling items: Investments in and advances to unconsolidated entities 4,617,724 4,230,429 Assets held for sale or contribution 350,987 322,139 Notes receivable backed by real estate 19,536 32,100 Cash and cash equivalents 271,354 807,316 Other assets 192,714 242,973 Total reconciling items 5,452,315 5,634,957 Total assets $ 30,150,395 $ 30,249,932

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2017
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	NOTE 11. SUPPLEMENTAL CASH FLOW INFORMATION Our significant noncash investing and financing activities for the six months ended June 30, 2017, and 2016 included the following: • We capitalized $14.0 million and $13.3 million in 2017 and 2016, respectively, of equity-based compensation expense resulting from our development and leasing activities. • We issued 0.7 million and 0.9 million shares in 2017 and 2016, respectively, of the Parent’s common stock upon redemption of an equal number of common limited partnership units in the Operating Partnership, as disclosed in Note 6. • We received $22.8 million of ownership interests in certain unconsolidated co-investment ventures as a portion of our proceeds from the contribution of properties to these entities during 2017, as disclosed in Note 3. • We received a $19.5 million of a note backed by real estate in exchange for the disposition of real estate in 2017. We paid $188.1 million and $197.9 million for interest, net of amounts capitalized, for the six months ended June 30, 2017, and 2016, respectively. We paid $23.6 million and $14.4 million for income taxes, net of refunds, for the six months ended June 30, 2017, and 2016, respectively.

General (Policies)

General (Policies)	6 Months Ended
	Jun. 30, 2017
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, 2016, as filed with the SEC, and other public information. Certain amounts included in the accompanying Consolidated Financial Statements for 2016 have been reclassified to conform to the 2017 financial statement presentation. This included two reclassifications made in the Consolidated Statements of Cash Flows. The first was a reclassification of distributions from our unconsolidated entities from investing activities
New Accounting Pronouncements	New Accounting Pronouncements. New Accounting Standards Adopted In January 2017, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update that clarifies the definition of a business. The update adds further guidance that assists preparers in evaluating whether a transaction will be accounted for as an acquisition of an asset or a business. We expect most of our acquisitions of operating properties and portfolios of operating properties to qualify as asset acquisitions under the standard that permits the capitalization of acquisition costs to the basis of the acquired buildings. We adopted this standard on January 1, 2017, on a prospective basis, and the adoption did not have a significant impact on the Consolidated Financial Statements. New Accounting Standards Issued but not yet Adopted Revenue Recognition. 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. We are evaluating each of our revenue streams and their related accounting policies under the standard. Rental revenues and recoveries earned from leasing our operating properties will be assessed with the adoption of the lease accounting standard update discussed below. Our evaluation under the revenue recognition standard also includes recurring fees and promotes earned from our co-investment ventures as well as sales to third parties and unconsolidated co-investment ventures. While we do not expect changes in the recognition of recurring fees earned, we are evaluating both the timing and measurement of promotes that may result in recognition when they are probable of being earned. For sales to third parties, primarily dispositions of real estate in exchange for cash with few contingencies, we do not expect the standard to significantly impact the recognition of or accounting treatment. In February 2017, the FASB issued an additional accounting standard update that provides the accounting treatment for gains and losses from the derecognition of non-financial assets, including the accounting for partial sales. Upon adoption of the standard, we will recognize, on a prospective basis, the entire gain attributed to sales to unconsolidated co-investment ventures rather than the third-party share we recognize today. For deferred gains from existing partial sales recorded prior to the adoption of the standard we will continue to recognize these gains into earnings over the lives of the assets. Both the revenue recognition and derecognition of non-financial assets standards are effective for us on January 1, 2018. In addition to the recognition changes discussed above, expanded quantitative and qualitative disclosures regarding revenue recognition will be required for contracts that are subject to these standards. We expect to adopt the standards on a modified retrospective basis. Leases. In February 2016, the FASB issued an accounting standard update that provides the principles for the recognition, measurement, presentation and disclosure of leases. The accounting for lessors will remain largely unchanged from current GAAP; however, the standard requires that lessors expense, on an as-incurred basis, certain initial direct costs that are not incremental in negotiating a lease. Under existing standards, certain of these costs are capitalizable and therefore this new standard may result in certain of these costs being expensed as incurred after adoption. This standard may also impact the timing, recognition and disclosures related to our rental recoveries from tenants earned from leasing our operating properties. Under the standard, lessees apply a dual approach, classifying leases as either finance or operating leases. A lessee is required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months, regardless of their lease classification. We are a lessee on ground leases and office space leases. At December 31, 2016, we had approximately 90 ground and office space leases that will require us to measure and record a right-of-use asset and a lease liability upon adoption of the standard. There have been no significant changes to our ground and office space leases since December 31, 2016. The standard is effective for us on January 1, 2019. We are assessing the practical expedients available for implementation under the standard. If the practical expedients are elected, we would not be required to reassess (i) whether an expired or existing contract meets the definition of a lease; (ii) the lease classification at the adoption date for expired or existing leases; and (iii) whether costs previously capitalized as initial direct costs would continue to be amortized. The standard will also require new disclosures within the notes accompanying the Consolidated Financial Statements. We will continue to assess the method of adoption and the overall impact the adoption will have on the Consolidated Financial Statements.

Real Estate (Tables)

Real Estate (Tables)	6 Months Ended
	Jun. 30, 2017
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 Number of Buildings June 30, December 31, June 30, December 31, June 30, December 31, 2017 2016 2017 2016 2017 2016 Operating properties Buildings and improvements 332,282 331,210 1,752 1,776 $ 18,273,094 $ 17,905,914 Improved land 6,139,322 6,037,543 Development portfolio, including land costs: Prestabilized 5,878 8,256 22 29 526,442 798,233 Properties under development 22,325 19,539 55 60 962,851 633,849 Land (1) 1,081,897 1,218,904 Other real estate investments (2) 517,678 524,887 Total investments in real estate properties 27,501,284 27,119,330 Less accumulated depreciation 4,026,369 3,758,372 Net investments in real estate properties $ 23,474,915 $ 23,360,958 (1) Included in our investments in real estate at June 30, 2017, and December 31, 2016, were 5,460 and 5,892 acres of land, respectively. (2) Included in other real estate investments are: (i) non-logistics real estate; (ii) land parcels that are ground leased to third parties; (iii) our corporate office buildings; (iv) costs related to future development projects, including purchase options on land; (v) infrastructure costs related to projects we are developing on behalf of others; and (vi) earnest money deposits associated with potential acquisitions.
Summary of Properties Disposed	The following table summarizes our real estate disposition activity for the three and six months ended June 30 (dollars and square feet in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Contributions to unconsolidated co-investment ventures Number of properties 5 5 10 10 Square feet 875 1,308 3,644 4,019 Net proceeds (1) $ 115,617 $ 65,805 $ 513,106 $ 463,700 Gains on contributions, net (1) $ 37,702 $ 10,451 $ 126,068 $ 103,590 Dispositions to third parties Number of properties 20 72 38 99 Square feet 3,720 8,321 6,038 10,565 Net proceeds (1) (2) $ 216,290 $ 609,028 $ 459,679 $ 889,607 Gains on dispositions, net (1) (2) $ 45,304 $ 103,284 $ 54,263 $ 154,462 Total gains on contributions and dispositions, net $ 83,006 $ 113,735 $ 180,331 $ 258,052 Gains on redemption of investment in co-investment ventures (3) - 86,615 - 86,615 Total gains on dispositions of investments in real estate, net $ 83,006 $ 200,350 $ 180,331 $ 344,667 ( 1 ) Includes the contribution and disposition of land parcels. ( 2 ) Includes the sale of our investment in European Logistics Venture 1 (“ELV”) in 2017. See Note 3 for more information on this transaction. (3) 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) and $200.0 million, respectively. The amounts received for the redemptions were included in Return of Investment from Unconsolidated Entities

Unconsolidated Entities (Tables

Unconsolidated Entities (Tables)	6 Months Ended
	Jun. 30, 2017
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in and Advances to our Unconsolidated Entities	The following table summarizes our investments in and advances to our unconsolidated entities (in thousands): June 30, December 31, 2017 2016 Unconsolidated co-investment ventures $ 4,382,825 $ 4,057,524 Other ventures 234,899 172,905 Totals $ 4,617,724 $ 4,230,429
Summary of Amounts Recognized in Consolidated Statements of Income Related to Co-Investment Ventures	The following table summarizes the amounts we recognized in the Consolidated Statements of Income related to the unconsolidated co-investment ventures (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Strategic capital revenues from unconsolidated co-investment ventures, net: U.S. (1) $ 130,165 $ 9,179 $ 141,223 $ 18,174 Other Americas (1) 9,864 5,693 15,915 11,079 Europe 25,957 25,435 52,127 47,768 Asia 14,064 12,654 26,719 26,255 Total strategic capital revenues from unconsolidated co-investment ventures, net $ 180,050 $ 52,961 $ 235,984 $ 103,276 Earnings from unconsolidated co-investment ventures, net: U.S. $ 1,963 $ 718 $ 6,909 $ 7,377 Other Americas 8,933 7,509 15,503 12,808 Europe 35,859 29,014 65,764 60,593 Asia 14,410 3,693 18,439 7,348 Total earnings from unconsolidated co-investment ventures, net $ 61,165 $ 40,934 $ 106,615 $ 88,126 (1) In June 2017, we earned promotes from USLF based on the venture’s cumulative returns to its investors over the last three years and FIBRA Prologis based on the venture’s cumulative returns to its investors over the past year. The third parties’ share of the promotes that were recognized in Strategic Capital Revenues
Summary of Remaining Equity Commitments	The following table summarizes the remaining equity commitments at June 30, 2017 (in millions): Equity Commitments Expiration Date for Remaining Commitments Prologis Venture Partners Total Prologis Targeted Europe Logistics Fund (1) $ - $ 346 $ 346 2017 - 2018 Prologis United Kingdom Logistics Venture (2) 35 201 236 2021 Prologis China Logistics Venture 294 1,665 1,959 2017 Totals $ 329 $ 2,212 $ 2,541 (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) As discussed above, this co-investment venture was formed in February 2017. Equity commitments are denominated in British pounds sterling and reported in U.S. dollars based on an exchange rate of $1.30 U.S. dollars to the British pound sterling.
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in and Advances to our Unconsolidated Entities	The following tables summarize the operating information and financial position of our unconsolidated co-investment ventures (not our proportionate share), as presented at our adjusted basis derived from the ventures’ U.S. GAAP information: June 30, December 31, June 30, (dollars and square feet in millions) 2017 2016 2016 U.S.: Number of ventures 1 1 1 Number of operating properties owned 384 369 379 Square feet 52 50 49 Total assets $ 4,346 $ 4,238 $ 4,228 Third-party debt $ 1,400 $ 1,414 $ 1,425 Total liabilities $ 1,620 $ 1,540 $ 1,504 Our investment balance (1) $ 545 $ 435 $ 518 Our weighted average ownership (2) 14.2 % 14.9 % 17.6 % Other Americas: Number of ventures 2 2 2 Number of operating properties owned 215 213 209 Square feet 43 42 41 Total assets $ 2,791 $ 2,793 $ 2,694 Third-party debt $ 728 $ 739 $ 677 Total liabilities $ 812 $ 814 $ 772 Our investment balance (1) $ 836 $ 845 $ 848 Our weighted average ownership (2) 44.0 % 43.9 % 43.6 % Europe: Number of ventures (3) (4) 4 4 4 Number of operating properties owned 702 700 690 Square feet 164 163 160 Total assets $ 12,178 $ 10,853 $ 11,188 Third-party debt $ 2,595 $ 2,446 $ 2,566 Total liabilities $ 3,536 $ 3,283 $ 3,521 Our investment balance (1) $ 2,505 $ 2,327 $ 2,464 Our weighted average ownership (2) 33.0 % 35.1 % 36.2 % Asia: Number of ventures 2 2 2 Number of operating properties owned 83 85 77 Square feet 36 36 34 Total assets $ 5,528 $ 5,173 $ 5,346 Third-party debt $ 2,088 $ 1,947 $ 1,952 Total liabilities $ 2,376 $ 2,239 $ 2,250 Our investment balance (1) $ 497 $ 451 $ 498 Our weighted average ownership (2) 15.1 % 15.1 % 15.0 % Total: Number of ventures 9 9 9 Number of operating properties owned 1,384 1,367 1,355 Square feet 295 291 284 Total assets $ 24,843 $ 23,057 $ 23,456 Third-party debt $ 6,811 $ 6,546 $ 6,620 Total liabilities $ 8,344 $ 7,876 $ 8,047 Our investment balance (1) $ 4,383 $ 4,058 $ 4,328 Our weighted average ownership (2) 26.9 % 27.9 % 28.8 % Three Months Ended June 30, Six Months Ended June 30, (in millions) 2017 2016 2017 2016 Revenues: U.S. $ 105 $ 98 $ 209 $ 196 Other Americas 66 59 130 116 Europe 248 248 492 492 Asia 89 86 177 162 Total revenues $ 508 $ 491 $ 1,008 $ 966 Net earnings: U.S. $ 15 $ 6 $ 51 $ 36 Other Americas 22 19 39 33 Europe 93 68 166 141 Asia 93 22 117 44 Total net earnings $ 223 $ 115 $ 373 $ 254 (1) The difference between our ownership interest of a venture’s equity and our investment balance at June 30, 2017, and December 31, 2016, 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 ($459.4 million and $469.9 million, respectively); (ii) recording additional costs associated with our investment in a venture ($125.0 million and $124.1 million, respectively); and (iii) advances to a venture ($300.5 million and $166.1 million, respectively), which increased primarily from the gross promotes that were earned during the second quarter of 2017 and expected to be paid in the third quarter of 2017 . (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) In January 2017, we sold our investment in ELV to our fund partner for $84.3 million and ELV contributed its properties to PTELF in exchange for equity interests. (4) In February 2017, we formed the Prologis United Kingdom Logistics Venture (“UKLV”), an unconsolidated co-investment venture in which we have a 15.0% ownership interest. UKLV will acquire land, develop buildings and operate and hold logistics real estate assets in the United Kingdom (“U.K.”). Upon formation, we, along with our venture partner, committed £380.0 million ($493.2 million at June 30, 2017), of which our share is £57.0 million ($74.0 million at June 30, 2017). During the six months ended June 30, 2017, we contributed 1.4 million square feet of stabilized properties, 0.5 million square feet of properties under development and 144.8 acres of land for £269.5 million ($336.4 million). We expect to continue to contribute properties and land into UKLV.

Assets Held for Sale or Contr23

Assets Held for Sale or Contribution (Tables)	6 Months Ended
	Jun. 30, 2017
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): June 30, December 31, 2017 2016 Number of operating properties 22 13 Square feet 4,886 4,167 Total assets held for sale or contribution $ 350,987 $ 322,139 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 6,281 $ 4,984

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Debt Summary	The following table summarizes our debt (dollars in thousands): June 30, 2017 December 31, 2016 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding Credit facilities - $ - 1.0 % $ 35,023 Senior notes 3.1 % 6,727,450 3.3 % 6,417,492 Term loans 1.6 % 1,954,091 1.4 % 1,484,523 Unsecured other 6.1 % 14,346 6.1 % 14,478 Secured mortgages (3) 3.9 % 1,983,623 4.9 % 979,585 Secured mortgages of consolidated entities (3) 2.7 % 402,412 3.0 % 1,677,193 Totals 3.0 % $ 11,081,922 3.2 % $ 10,608,294 (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 the debt outstanding. (2) Included in the outstanding balances are borrowings denominated in non-U.S. dollars, principally: euro ($3.6 billion), Japanese yen ($1.5 billion), British pounds sterling ($0.6 billion) and Canadian dollars ($0.4 billion). (3) As discussed in Note 6, in March 2017 we acquired all of our partner’s interest in NAIF, therefore, the related secured mortgage debt of $956.0 million at June 30, 2017 was wholly-owned and reported as secured mortgages. In July 2017, this debt was assumed by USLF in conjunction with our contribution of the associated real estate properties, as discussed in Note 3.
Credit Facilities	The following table summarizes information about our Credit Facilities at June 30, 2017 (in millions): Aggregate lender commitments $ 3,452 Less: Borrowings outstanding - Outstanding letters of credit 37 Current availability $ 3,415
Long-Term Debt Maturities	Principal payments due on our debt, for the remainder of 2017 and for each of the years in the period ending December 31, 2026, and thereafter were as follows at June 30, 2017 (in thousands): Unsecured Senior Term Loans Secured Maturity Notes and Other Mortgage Debt Total 2017 (1) $ - $ 491 $ - $ 491 2018 175,000 1,009 118,063 294,072 2019 - 1,091 610,281 611,372 2020 (2) 887,241 501,155 446,318 1,834,714 2021 1,298,840 954 436,544 1,736,338 2022 798,840 447,396 141,673 1,387,909 2023 850,000 913,201 163,284 1,926,485 2024 798,840 882 174,735 974,457 2025 750,000 958 133,420 884,378 2026 570,600 599 139,920 711,119 Thereafter 648,903 112,851 2,384 764,138 Subtotal 6,778,264 1,980,587 2,366,622 11,125,473 Premiums (discounts), net (22,648 ) - 28,391 5,743 Debt issuance costs, net (28,166 ) (12,150 ) (8,978 ) (49,294 ) Totals $ 6,727,450 $ 1,968,437 $ 2,386,035 $ 11,081,922 (1) We expect to repay the amounts maturing in 2017 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 2020 maturities is the 2017 Term Loan that can be extended until 2022.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	6 Months Ended
	Jun. 30, 2017
Noncontrolling Interest [Abstract]
Summary of Ownership Percentages and Noncontrolling Interests	The following table summarizes our ownership percentages and noncontrolling interests and the consolidated entities’ total assets and liabilities at June 30, 2017, and December 31, 2016 (dollars in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities 2017 2016 2017 2016 2017 2016 2017 2016 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 2,522,506 $ 2,424,800 $ 6,105,549 $ 6,201,278 $ 496,086 $ 797,593 Prologis North American Industrial Fund (1) 100.0 % 66.1 % - 486,648 - 2,479,072 - 1,038,708 Prologis Brazil Logistics Partners Fund I (2) 100.0 % 50.0 % - 61,836 - 131,581 - 720 Other consolidated entities (3) various various 84,846 99,185 849,870 866,821 37,488 34,073 Prologis, L.P. noncontrolling interests 2,607,352 3,072,469 6,955,419 9,678,752 533,574 1,871,094 Limited partners in Prologis, L.P. (4) (5) 405,590 394,590 - - - - Prologis, Inc. noncontrolling interests $ 3,012,942 $ 3,467,059 $ 6,955,419 $ 9,678,752 $ 533,574 $ 1,871,094 (1) In March 2017, we acquired all of our partner’s interest for $710.2 million. The difference between the amount we paid and the noncontrolling interest balance was adjusted through Additional Paid-in Capital (2) In March 2017, we acquired all of our partner’s interest for $79.8 million. The difference between the amount we paid and the noncontrolling interest balance was adjusted through Additional Paid-in Capital (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 June 30, 2017, and December 31, 2016, limited partnership units were redeemable for cash or, at our option, 1.6 million shares of the Parent’s common stock. During the first six months of 2017, limited partnership units were redeemed for 265 thousand shares of the Parent’s common stock. (4) We had 8.9 million Class A Units that were convertible into 8.6 million and 8.7 million common limited partnership units of the Operating Partnership at June 30, 2017 and December 31, 2016, respectively. (5) At June 30, 2017, and December 31, 2016, excluding the Class A Units, there were common limited partnership units in the Operating Partnership outstanding that were redeemable for cash or, at our option, 4.1 million shares and 4.6 million shares of the Parent’s common stock with a fair value of $242.2 million and $241.8 million, respectively, based on the closing stock price of the Parent’s common stock. During the first six months of 2017, unitholders redeemed 0.7 million common limited partnership units for an equal number of shares of the Parent’s common stock with a value of $18.8 million. At June 30, 2017, and December 31, 2016, there were 3.7 million and 2.2 million LTIP Units (as defined in Note 7) outstanding, respectively, associated with our long-term compensation plan that are convertible into common units of the Operating Partnership after they vest and other applicable conditions are met.

Long-Term Compensation (Tables)

Long-Term Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
POP LTIP Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Unvested POP LTIP Units Activity	The following table summarizes the activity for the unvested POP LTIP Units for the six months ended June 30, 2017 (units in thousands): Number of Unvested POP LTIP Units Balance at January 1, 2017 3,490 Granted 38 Vested POP LTIP Units (1) (698 ) Forfeited (576 ) Balance at June 30, 2017 2,254 (1) Vested units were based on the POP performance criteria being met for the 2014 – 2016 performance period and represented the earned award amount. Vested units are included in LTIP Units in the table below. Any excess outstanding unvested POP LTIP Units for the 2014 – 2016 performance period were forfeited to the extent not earned.
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 LTIP Units for the six months ended June 30, 2017 (units in thousands): Number of Weighted Average Number of LTIP Units Grant-Date Fair Value LTIP Units Vested Balance at January 1, 2017 2,219 $ 40.81 743 Granted 1,032 Vested POP LTIP Units 698 Conversion to common limited partnership units (227 ) Balance at June 30, 2017 3,722 $ 45.55 1,835
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 six months ended June 30, 2017 (units in thousands): Number of Weighted Average Number of RSUs Grant-Date Fair Value RSUs Vested Balance at January 1, 2017 1,617 $ 40.58 125 Granted 757 Vested and distributed (783 ) Forfeited (46 ) Balance at June 30, 2017 1,545 $ 45.29 106
Prologis Promote Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Equity Awards Granted	The following table details the equity awards granted under the PPP for the six months ended June 30 (in thousands): 2017 2016 RSUs granted 88 53 Grant date fair value of RSUs granted $ 4,800 $ 2,300 LTIP Units granted 203 114 Grant date fair value of LTIP Units granted $ 11,100 $ 4,900

Earnings Per Common Share or 27

Earnings Per Common Share or Unit (Tables)	6 Months Ended
	Jun. 30, 2017
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 Six Months Ended June 30, June 30, Prologis, Inc. 2017 2016 2017 2016 Net earnings attributable to common stockholders – Basic $ 266,943 $ 275,383 $ 470,198 $ 483,424 Net earnings attributable to redeemable limited partnership unitholders (1) 7,798 9,085 13,765 15,694 Adjusted net earnings attributable to common stockholders – Diluted $ 274,741 $ 284,468 $ 483,963 $ 499,118 Weighted average common shares outstanding – Basic 530,040 524,842 529,400 524,540 Incremental weighted average effect on redemption of limited partnership units (1) 16,364 17,703 16,409 17,623 Incremental weighted average effect of equity awards 5,710 2,843 4,703 2,130 Weighted average common shares outstanding – Diluted (2) 552,114 545,388 550,512 544,293 Net earnings per share attributable to common stockholders: Basic $ 0.50 $ 0.52 $ 0.89 $ 0.92 Diluted $ 0.50 $ 0.52 $ 0.88 $ 0.92 Three Months Ended Six Months Ended June 30, June 30, Prologis, L.P. 2017 2016 2017 2016 Net earnings attributable to common unitholders $ 274,320 $ 283,699 $ 483,198 $ 497,974 Net earnings attributable to Class A common unitholders (4,347 ) (4,619 ) (7,678 ) (8,129 ) Net earnings attributable to common unitholders – Basic $ 269,973 $ 279,080 $ 475,520 $ 489,845 Net earnings attributable to Class A common unitholders 4,347 4,619 7,678 8,129 Net earnings attributable to limited partnership unitholders 421 768 765 1,143 Adjusted net earnings attributable to common unitholders – Diluted $ 274,741 $ 284,467 $ 483,963 $ 499,117 Weighted average common partnership units outstanding – Basic 536,060 531,912 535,392 531,507 Incremental weighted average effect on conversion of Class A Units 8,626 8,798 8,645 8,821 Incremental weighted average effect on redemption of limited partnership units into common stock of Prologis, Inc. 1,718 1,835 1,772 1,835 Incremental weighted average effect of equity awards of Prologis, Inc. 5,710 2,843 4,703 2,130 Weighted average common partnership units outstanding – Diluted (2) 552,114 545,388 550,512 544,293 Net earnings per unit attributable to common unitholders: Basic $ 0.50 $ 0.52 $ 0.89 $ 0.92 Diluted $ 0.50 $ 0.52 $ 0.88 $ 0.92 (1) Earnings allocated to the redeemable Operating Partnership units not held by the Parent has been included in the numerator and redeemable 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) Our total potentially dilutive shares and units outstanding consisted of the following: Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Total weighted average potentially dilutive limited partnership units 10,344 10,633 10,417 10,656 Total potentially dilutive stock awards 9,355 7,176 8,583 6,854 Total Prologis, L.P. 19,699 17,809 19,000 17,510 Limited partners in Prologis, L.P. 6,020 7,070 5,992 6,967 Total Prologis, Inc. 25,719 24,879 24,992 24,477

Financial Instruments and Fai28

Financial Instruments and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of Fair Value and Classification of Derivative Instruments	The following table presents the fair value and classification of our derivative instruments (in thousands): June 30, 2017 December 31, 2016 Asset Liability Asset Liability Net investment hedges British pound sterling denominated $ - $ - $ 7,439 $ - Canadian dollar denominated - 3,904 1,245 - Forwards and options (1) British pound sterling denominated 8,401 4,048 16,985 - Canadian dollar denominated 31 546 831 197 Euro denominated 538 6,101 10,933 - Yen denominated 6,919 1,512 9,246 1,071 Interest rate hedges 3,639 - 435 - Total fair value of derivatives $ 19,528 $ 16,111 $ 47,114 $ 1,268 (1) As discussed below, these foreign currency options are not designated as hedges. We recognized unrealized losses of $18.8 million and $32.5 million for the three and six months ended June 30, 2017, respectively, from the change in value of our outstanding foreign currency options within Foreign Currency and Derivative Losses, Net
Foreign Currency Contracts Activity	The following tables summarize the activity in our foreign currency contracts for the six months ended June 30 (in millions, except for weighted average forward rates and number of active contracts): 2017 Foreign Currency Contracts Local Currency Net Investment Hedges Forwards and Options CAD GBP CAD EUR GBP JPY Notional amounts at January 1 $ 133 £ 31 $ 50 € 174 £ 48 ¥ 15,500 New contracts 133 100 - 56 107 4,000 Matured, expired or settled contracts (133 ) (131 ) (15 ) (50 ) (31 ) (3,500 ) Notional amounts at June 30 $ 133 £ - $ 35 € 180 £ 124 ¥ 16,000 Foreign Currency Contracts U.S. Dollar Net Investment Hedges Forwards and Options Notional amounts at January 1 $ 100 $ 46 $ 38 $ 197 $ 78 $ 144 New contracts 99 127 - 63 137 38 Matured, expired or settled contracts (100 ) (173 ) (12 ) (56 ) (46 ) (31 ) Notional amounts at June 30 $ 99 $ - $ 26 $ 204 $ 169 $ 151 Weighted average forward rate at June 30 1.34 - 1.32 1.13 1.33 106.51 Active contracts at June 30 2 - 12 26 22 32 2016 Foreign Currency Contracts Local Currency Net Investment Hedges Forwards and Options CAD GBP JPY EUR GBP JPY Other Notional amounts at January 1 $ - £ 238 ¥ - € 275 £ 97 ¥ 12,840 New contracts 133 60 11,189 171 - 11,460 Matured, expired or settled contracts - (60 ) (11,189 ) (75 ) (24 ) (3,120 ) Notional amounts at June 30 $ 133 £ 238 ¥ - € 371 £ 73 ¥ 21,180 Foreign Currency Contracts U.S. Dollar Net Investment Hedges Forwards and Options (1) Notional amounts at January 1 $ - $ 386 $ - $ 310 $ 148 $ 109 $ 50 New contracts 100 85 99 192 - 108 15 Matured, expired or settled contracts - (100 ) (99 ) (85 ) (36 ) (27 ) (15 ) Notional amounts at June 30 $ 100 $ 371 $ - $ 417 $ 112 $ 190 $ 50 (1) During the Foreign Currency and Derivative Losses, Net.
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 June 30, Six Months Ended June 30, 2017 2016 2017 2016 Derivative net investment hedges (1) $ 7,197 $ 21,512 $ 9,491 $ 29,420 Interest rate and cash flow hedges (2) 4,559 (2,703 ) 4,988 (13,824 ) Our share of derivatives from unconsolidated co-investment ventures 2,176 (3,223 ) 4,378 (7,994 ) Total derivative instruments 13,932 15,586 18,857 7,602 Nonderivative net investment hedges (3) (4) (229,666 ) 91,416 (274,192 ) (69,773 ) Total derivative and nonderivative hedging instruments $ (215,734 ) $ 107,002 $ (255,335 ) $ (62,171 ) (1) We received $0.7 million and $2.5 million for the three and six months ended June 30, 2017, respectively, upon the settlement of net investment hedges. We received $15.9 million and $16.8 million for the three and six months ended June 30, 2016, respectively, upon the settlement of net investment hedges. (2) The amounts reclassified to interest expense for the three and six months ended June 30, 2017, were $1.5 million and $2.9 million, respectively. The amounts reclassified to interest expense for the three and six months ended June 30, 2016, were $1.1 million and $2.1 million, respectively. For the next 12 months from June 30, 2017, we estimate an additional expense of $4.8 million will be reclassified to Interest Expense (3) At June 30, 2017, and December 31, 2016, we had €3.1 billion ($3.5 billion) and €3.2 billion ($3.4 billion) of debt, net of accrued interest, respectively, designated as nonderivative financial instrument hedges of our net investment in international subsidiaries. We recognized unrealized losses of $7.2 million and $11.3 million in Foreign Currency and Derivative Losses, Net (4) In June 2017, we issued £500.0 million ($645.3 million) of debt, as discussed in Note 5, and designated the debt as a nonderivative financial instrument hedge of our net investment in international subsidiaries. We had no gains or losses for the three and six months ended June 30, 2017.
Carrying Amounts and Estimated Fair Values of Debt	The following table reflects the carrying amounts and estimated fair values of our debt (in thousands): June 30, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ - $ - $ 35,023 $ 35,061 Senior notes 6,727,450 7,216,569 6,417,492 6,935,485 Term loans and unsecured other 1,968,437 1,986,654 1,499,001 1,510,661 Secured mortgages 1,983,623 2,063,821 979,585 1,055,020 Secured mortgages of consolidated entities 402,412 402,348 1,677,193 1,683,489 Total debt $ 11,081,922 $ 11,669,392 $ 10,608,294 $ 11,219,716

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Segment Reporting, Reconciliation of Revenues, Operating Income and Assets	The following reconciliations are presented in thousands: Three Months Ended Six Months Ended June 30, June 30, 2017 2016 2017 2016 Revenues: Real estate operations segment: U.S. $ 529,841 $ 501,707 $ 1,053,988 $ 1,012,864 Other Americas 16,444 15,083 31,533 29,018 Europe 22,076 19,533 40,307 36,008 Asia 17,168 12,297 31,811 26,027 Total real estate operations segment 585,529 548,620 1,157,639 1,103,917 Strategic capital segment: U.S. 130,677 9,580 142,585 18,936 Other Americas 9,864 5,693 15,915 11,079 Europe 25,973 25,526 52,235 48,109 Asia 14,140 12,736 26,964 26,414 Total strategic capital segment 180,654 53,535 237,699 104,538 Total revenues $ 766,183 $ 602,155 $ 1,395,338 $ 1,208,455 Segment net operating income: Real estate operations segment: U.S. $ 396,274 $ 369,786 $ 780,374 $ 745,503 Other Americas 10,384 10,517 20,366 18,710 Europe 16,401 15,328 29,259 26,633 Asia 11,767 8,364 21,675 17,180 Total real estate operations segment 434,826 403,995 851,674 808,026 Strategic capital segment: U.S. 99,668 826 101,607 2,536 Other Americas 7,587 3,052 10,732 6,188 Europe 16,342 18,450 32,732 34,070 Asia 5,071 3,341 8,843 8,585 Total strategic capital segment 128,668 25,669 153,914 51,379 Total segment net operating income 563,494 429,664 1,005,588 859,405 Reconciling items: General and administrative expenses 60,077 56,934 113,694 107,477 Depreciation and amortization expenses 228,145 230,382 454,736 480,382 Operating income 275,272 142,348 437,158 271,546 Earnings from unconsolidated entities, net 68,596 41,454 117,201 99,765 Interest expense (75,354 ) (76,455 ) (148,266 ) (157,267 ) Interest and other income, net 1,892 1,527 4,677 4,118 Gains on dispositions of investments in real estate, net 83,006 200,350 180,331 344,667 Foreign currency and derivative losses, net (20,055 ) (10,335 ) (27,455 ) (24,546 ) Gains (losses) on early extinguishment of debt, net (30,596 ) 2,044 (30,596 ) 992 Earnings before income taxes $ 302,761 $ 300,933 $ 533,050 $ 539,275 June 30, December 31, 2017 2016 Assets: Real estate operations segment: U.S. $ 21,295,808 $ 21,286,422 Other Americas 1,052,052 978,476 Europe 1,139,882 1,346,589 Asia 1,147,246 936,462 Total real estate operations segment 24,634,988 24,547,949 Strategic capital segment: U.S. 17,454 18,090 Europe 44,680 47,635 Asia 958 1,301 Total strategic capital segment 63,092 67,026 Total segment assets 24,698,080 24,614,975 Reconciling items: Investments in and advances to unconsolidated entities 4,617,724 4,230,429 Assets held for sale or contribution 350,987 322,139 Notes receivable backed by real estate 19,536 32,100 Cash and cash equivalents 271,354 807,316 Other assets 192,714 242,973 Total reconciling items 5,452,315 5,634,957 Total assets $ 30,150,395 $ 30,249,932

General - Additional Informatio

General - Additional Information (Detail) shares in Millions	6 Months Ended
	Jun. 30, 2017Segmentshares	Dec. 31, 2016Ground
General [Line Items]
Number of reportable segments | Segment	2
Percentage of common limited partnership interest	2.67%
Number of ground and office space leases | Ground		90
General Partner | Prologis Limited Partnership [Member]
General [Line Items]
Percentage of ownership in operating partnership	97.33%
Preferred [Member] | Prologis Limited Partnership [Member]
General [Line Items]
Percentage of ownership in operating partnership	100.00%
Class A Common [Member]
General [Line Items]
Class of common limited partnership units designated as class A common units | shares	8.9

Real Estate - Investments in Re

Real Estate - Investments in Real Estate Properties (Detail) ft² in Thousands, $ in Thousands	Jun. 30, 2017USD ($)ft²aBuildings	Dec. 31, 2016USD ($)ft²aBuildings
Real Estate Properties [Line Items]
Total investments in real estate properties	$ 27,501,284	$ 27,119,330
Less accumulated depreciation	4,026,369	3,758,372
Net investments in real estate properties	$ 23,474,915	$ 23,360,958
Improved Land [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	0	0
Number of buildings | Buildings	0	0
Total investments in real estate properties	$ 6,139,322	$ 6,037,543
Building and Improvements [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	332,282	331,210
Number of buildings | Buildings	1,752	1,776
Total investments in real estate properties	$ 18,273,094	$ 17,905,914
Development Portfolio, Including Cost of Land: Pre-stabilized [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	5,878	8,256
Number of buildings | Buildings	22	29
Total investments in real estate properties	$ 526,442	$ 798,233
Properties Under Development [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	22,325	19,539
Number of buildings | Buildings	55	60
Total investments in real estate properties	$ 962,851	$ 633,849
Land [Member]
Real Estate Properties [Line Items]
Square Feet | a	5,460	5,892
Total investments in real estate properties	$ 1,081,897	$ 1,218,904
Other Real Estate Investments [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	0	0
Number of buildings | Buildings	0	0
Total investments in real estate properties	$ 517,678	$ 524,887

Real Estate - Investments in 32

Real Estate - Investments in Real Estate Properties (Parenthetical) (Detail) - a	Jun. 30, 2017	Dec. 31, 2016
Land [Member]
Real Estate Properties [Line Items]
Square feet	5,460	5,892

Real Estate - Summary of Dispos

Real Estate - Summary of Dispositions (Detail) ft² in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)ft²Property	Jun. 30, 2016USD ($)ft²Property	Jun. 30, 2017USD ($)ft²Property	Jun. 30, 2016USD ($)ft²Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total gains on dispositions of investments in real estate, net	$ 83,006	$ 200,350	$ 180,331	$ 344,667
Continuing Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total gains on contributions and dispositions, net	83,006	113,735	180,331	258,052
Total gains on dispositions of investments in real estate, net	$ 83,006	$ 200,350	$ 180,331	$ 344,667
Continuing Operations [Member] | 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	5	10	10
Square feet | ft²	875	1,308	3,644	4,019
Net proceeds	$ 115,617	$ 65,805	$ 513,106	$ 463,700
Gains on contributions, net (1)	$ 37,702	$ 10,451	$ 126,068	$ 103,590
Continuing Operations [Member] | Dispositions to Third Parties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of buildings | Property	20	72	38	99
Square feet | ft²	3,720	8,321	6,038	10,565
Net proceeds	$ 216,290	$ 609,028	$ 459,679	$ 889,607
Gains on contributions, net (1)	45,304	103,284	54,263	154,462
Continuing Operations [Member] | Redemption of investment in co-investment venture [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gains on contributions, net (1)	$ 0	$ 86,615	$ 0	$ 86,615

Real Estate - Summary of Disp34

Real Estate - Summary of Dispositions (Parenthetical) (Detail) - 1 months ended Apr. 30, 2016 € in Millions, $ in Millions	USD ($)	EUR (€)
Prologis Europe Logistics Fund
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Redeemed a portion of investment	$ 210.6	€ 185
Prologis Targeted U S Logistics Fund
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Redeemed a portion of investment	$ 200

Unconsolidated Entities - Summa

Unconsolidated Entities - Summary of Investments in and Advances to our Unconsolidated Entities (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	$ 4,617,724	$ 4,230,429
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	4,382,825	4,057,524
Other Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	$ 234,899	$ 172,905

Unconsolidated Entities - Sum36

Unconsolidated Entities - Summary of Amounts Recognized in Consolidated Statements of Income Related to Co-Investment Ventures (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues		$ 180,654	$ 53,535	$ 237,699	$ 104,538
Total earnings from unconsolidated co-investment ventures, net		68,596	41,454	117,201	99,765
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues		180,050	52,961	235,984	103,276
Total earnings from unconsolidated co-investment ventures, net		61,165	40,934	106,615	88,126
Unconsolidated Co-Investment Ventures [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues	[1]	130,165	9,179	141,223	18,174
Total earnings from unconsolidated co-investment ventures, net		1,963	718	6,909	7,377
Unconsolidated Co-Investment Ventures [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues	[1]	9,864	5,693	15,915	11,079
Total earnings from unconsolidated co-investment ventures, net		8,933	7,509	15,503	12,808
Unconsolidated Co-Investment Ventures [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues		25,957	25,435	52,127	47,768
Total earnings from unconsolidated co-investment ventures, net		35,859	29,014	65,764	60,593
Unconsolidated Co-Investment Ventures [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues		14,064	12,654	26,719	26,255
Total earnings from unconsolidated co-investment ventures, net		$ 14,410	$ 3,693	$ 18,439	$ 7,348
[1]	In June 2017, we earned promotes from USLF based on the venture’s cumulative returns to its investors over the last three years and FIBRA Prologis based on the venture’s cumulative returns to its investors over the past year. The third parties’ share of the promotes that were recognized in Strategic Capital Revenues were $123.9 million.

Unconsolidated Entities - Sum37

Unconsolidated Entities - Summary of Amounts Recognized in Consolidated Statements of Income Related to Co-Investment Ventures (Parenthetical) (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Equity Method Investments And Joint Ventures [Abstract]
Third parties share of promotes recognized in strategic capital revenues	$ 123.9

Unconsolidated Entities - Sum38

Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Detail) - Unconsolidated Co-Investment Ventures [Member] ft² in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2017USD ($)ft²PropertyVenture	Jun. 30, 2016USD ($)ft²PropertyVenture	Jun. 30, 2017USD ($)ft²PropertyVenture	Jun. 30, 2016USD ($)ft²PropertyVenture	Dec. 31, 2016USD ($)ft²PropertyVenture
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		9	9	9	9	9
Number of operating properties owned | Property		1,384	1,355	1,384	1,355	1,367
Square feet | ft²		295	284	295	284	291
Total assets		$ 24,843	$ 23,456	$ 24,843	$ 23,456	$ 23,057
Third-party debt		6,811	6,620	6,811	6,620	6,546
Total liabilities		8,344	8,047	8,344	8,047	7,876
Our investment balance	[1]	4,383	4,328	4,383	4,328	$ 4,058
Revenues		508	491	1,008	966
Net earnings		$ 223	$ 115	$ 373	$ 254
U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		1	1	1	1	1
Number of operating properties owned | Property		384	379	384	379	369
Square feet | ft²		52	49	52	49	50
Total assets		$ 4,346	$ 4,228	$ 4,346	$ 4,228	$ 4,238
Third-party debt		1,400	1,425	1,400	1,425	1,414
Total liabilities		1,620	1,504	1,620	1,504	1,540
Our investment balance	[1]	545	518	545	518	$ 435
Revenues		105	98	209	196
Net earnings		$ 15	$ 6	$ 51	$ 36
Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		2	2	2	2	2
Number of operating properties owned | Property		215	209	215	209	213
Square feet | ft²		43	41	43	41	42
Total assets		$ 2,791	$ 2,694	$ 2,791	$ 2,694	$ 2,793
Third-party debt		728	677	728	677	739
Total liabilities		812	772	812	772	814
Our investment balance	[1]	836	848	836	848	$ 845
Revenues		66	59	130	116
Net earnings		$ 22	$ 19	$ 39	$ 33
Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture	[2],[3]	4	4	4	4	4
Number of operating properties owned | Property		702	690	702	690	700
Square feet | ft²		164	160	164	160	163
Total assets		$ 12,178	$ 11,188	$ 12,178	$ 11,188	$ 10,853
Third-party debt		2,595	2,566	2,595	2,566	2,446
Total liabilities		3,536	3,521	3,536	3,521	3,283
Our investment balance	[1]	2,505	2,464	2,505	2,464	$ 2,327
Revenues		248	248	492	492
Net earnings		$ 93	$ 68	$ 166	$ 141
Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		2	2	2	2	2
Number of operating properties owned | Property		83	77	83	77	85
Square feet | ft²		36	34	36	34	36
Total assets		$ 5,528	$ 5,346	$ 5,528	$ 5,346	$ 5,173
Third-party debt		2,088	1,952	2,088	1,952	1,947
Total liabilities		2,376	2,250	2,376	2,250	2,239
Our investment balance	[1]	497	498	497	498	$ 451
Revenues		89	86	177	162
Net earnings		$ 93	$ 22	$ 117	$ 44
Weighted Average [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	26.90%	28.80%	26.90%	28.80%	27.90%
Weighted Average [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	14.20%	17.60%	14.20%	17.60%	14.90%
Weighted Average [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	44.00%	43.60%	44.00%	43.60%	43.90%
Weighted Average [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	33.00%	36.20%	33.00%	36.20%	35.10%
Weighted Average [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	15.10%	15.00%	15.10%	15.00%	15.10%
[1]	The difference between our ownership interest of a venture’s equity and our investment balance at June 30, 2017, and December 31, 2016, 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 ($459.4 million and $469.9 million, respectively); (ii) recording additional costs associated with our investment in a venture ($125.0 million and $124.1 million, respectively); and (iii) advances to a venture ($300.5 million and $166.1 million, respectively), which increased primarily from the gross promotes that were earned during the second quarter of 2017 and expected to be paid in the third quarter of 2017.
[2]	In February 2017, we formed the Prologis United Kingdom Logistics Venture (“UKLV”), an unconsolidated co-investment venture in which we have a 15.0% ownership interest. UKLV will acquire land, develop buildings and operate and hold logistics real estate assets in the United Kingdom (“U.K.”). Upon formation, we, along with our venture partner, committed £380.0 million ($493.2 million at June 30, 2017), of which our share is £57.0 million ($74.0 million at June 30, 2017). During the six months ended June 30, 2017, we contributed 1.4 million square feet of stabilized properties, 0.5 million square feet of properties under development and 144.8 acres of land for £269.5 million ($336.4 million). We expect to continue to contribute properties and land into UKLV.
[3]	In January 2017, we sold our investment in ELV to our fund partner for $84.3 million and ELV contributed its properties to PTELF in exchange for equity interests.
[4]	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 - Sum39

Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Parenthetical) (Detail) ft² in Thousands, $ in Thousands, £ in Millions	1 Months Ended	6 Months Ended	12 Months Ended
	Jan. 31, 2017USD ($)	Jun. 30, 2017USD ($)ft²a	Dec. 31, 2016USD ($)ft²a	Jun. 30, 2017GBP (£)ft²a	Feb. 28, 2017GBP (£)
Schedule Of Equity Method Investments [Line Items]
Deferred gain recognize		$ 459,400	$ 469,900
Additional costs associated with investment in a venture		125,000	124,100
Advances to venture		300,500	166,100
Equity commitments		74,000			£ 57
Investments in real estate properties		$ 27,501,284	$ 27,119,330
Properties Under Development [Member]
Schedule Of Equity Method Investments [Line Items]
Square feet | ft²		22,325	19,539	22,325
Investments in real estate properties		$ 962,851	$ 633,849
Land [Member]
Schedule Of Equity Method Investments [Line Items]
Square feet | a		5,460	5,892	5,460
Investments in real estate properties		$ 1,081,897	$ 1,218,904
Europe Logistics Venture 1 [Member]
Schedule Of Equity Method Investments [Line Items]
Redeemed a portion of investment	$ 84,300
Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage					15.00%
Equity commitments		$ 493,200			£ 380
Prologis U.K. Logistics Venture [Member] | Stabilized Properties [Member]
Schedule Of Equity Method Investments [Line Items]
Square feet | ft²		1,400		1,400
Prologis U.K. Logistics Venture [Member] | Stabilized Properties, Properties under Development and Land [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in real estate properties		$ 336,400		£ 269.5
Prologis U.K. Logistics Venture [Member] | Properties Under Development [Member]
Schedule Of Equity Method Investments [Line Items]
Square feet | ft²		500		500
Prologis U.K. Logistics Venture [Member] | Land [Member]
Schedule Of Equity Method Investments [Line Items]
Square feet | a		144.8		144.8

Unconsolidated Entities - Addit

Unconsolidated Entities - Additional Information (Detail) - Prologis Targeted U S Logistics Fund ft² in Millions, $ in Millions	1 Months Ended
	Jul. 31, 2017USD ($)ft²Property	Apr. 30, 2016USD ($)
Schedule Of Equity Method Investments [Line Items]
Cash proceeds on sale of properties		$ 200
Subsequent Event [Member]
Schedule Of Equity Method Investments [Line Items]
Number of buildings | Property	190
Square Feet | ft²	39
Aggregate purchase price	$ 2,800
Secured Debt	956
Cash proceeds on sale of properties	$ 720
Ownership percentage	27.00%
Gain on sale of properties, net of deferral due	$ 480

Unconsolidated Entities - Sum41

Unconsolidated Entities - Summary of Remaining Equity Commitments (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 2,541
Prologis Europe Logistics Fund
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 346	[1]
Expiration date for remaining commitments range start	2,017	[1]
Expiration date for remaining commitments range end	2,018	[1]
Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 236	[2]
Expiration date for remaining commitments range start	2,021	[2]
Prologis China Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 1,959
Expiration date for remaining commitments range start	2,017
Prologis Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 329
Prologis Inc [Member] | Prologis Europe Logistics Fund
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	0	[1]
Prologis Inc [Member] | Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	35	[2]
Prologis Inc [Member] | Prologis China Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	294
Venture Partners [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	2,212
Venture Partners [Member] | Prologis Europe Logistics Fund
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	346	[1]
Venture Partners [Member] | Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	201	[2]
Venture Partners [Member] | Prologis China Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 1,665
[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]	As discussed above, this co-investment venture was formed in February 2017. Equity commitments are denominated in British pounds sterling and reported in U.S. dollars based on an exchange rate of $1.30 U.S. dollars to the British pound sterling.

Unconsolidated Entities - Sum42

Unconsolidated Entities - Summary of Remaining Equity Commitments (Parenthetical) (Detail)	Jun. 30, 2017$ / €$ / £
Prologis Europe Logistics Fund
Schedule Of Equity Method Investments [Line Items]
Exchange rate | $ / €	1.14
Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate | $ / £	1.30

Assets Held for Sale or Contr43

Assets Held for Sale or Contribution - Summary of Assets Held for Sale or Contribution (Detail) ft² in Thousands, $ in Thousands	Jun. 30, 2017USD ($)ft²Property	Dec. 31, 2016USD ($)ft²Property
Long Lived Assets Held For Sale [Line Items]
Total assets held for sale or contribution	$ 350,987	$ 322,139
Total liabilities associated with assets held for sale or contribution – included in Other Liabilities	$ 6,281	$ 4,984
Disposal Group Heldforsale Not Discontinued Operations
Long Lived Assets Held For Sale [Line Items]
Number of operating properties | Property	22	13
Square feet | ft²	4,886	4,167

Debt - Debt Summary (Detail)

Debt - Debt Summary (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.00%	3.20%
Debt	$ 11,081,922	$ 10,608,294
Credit Facilities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	0.00%	1.00%
Debt	$ 0	$ 35,023
Senior Notes [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.10%	3.30%
Debt	$ 6,727,450	$ 6,417,492
Term Loan [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.60%	1.40%
Debt	$ 1,954,091	$ 1,484,523
Unsecured Other Debt [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	6.10%	6.10%
Debt	$ 14,346	$ 14,478
Secured Mortgages [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.90%	4.90%
Debt	$ 1,983,623	$ 979,585
Secured Mortgage Debt of Consolidated Entities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.70%	3.00%
Debt	$ 402,412	$ 1,677,193

Debt - Debt Summary (Parentheti

Debt - Debt Summary (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Debt	$ 11,081,922	$ 10,608,294
Prologis North American Industrial Fund [Member]
Debt Instrument [Line Items]
Secured mortgage debt	956,000
EUR
Debt Instrument [Line Items]
Debt	3,600,000
JPY
Debt Instrument [Line Items]
Debt	1,500,000
CAD
Debt Instrument [Line Items]
Debt	400,000
GBP
Debt Instrument [Line Items]
Debt	$ 600,000

Debt - Additional Information (

Debt - Additional Information (Detail) £ in Millions	1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017USD ($)	May 31, 2017USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Jun. 30, 2017GBP (£)	Jun. 30, 2017JPY (¥)	Mar. 31, 2017USD ($)	Mar. 31, 2017JPY (¥)	Feb. 28, 2017JPY (¥)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 3,452,000,000		$ 3,452,000,000		$ 3,452,000,000
Issued amount	11,125,473,000		11,125,473,000		$ 11,125,473,000
Interest rate					3.00%		3.20%
Gains (losses) on early extinguishment of debt, net			(30,596,000)	$ 2,044,000	$ (30,596,000)	$ 992,000
Borrowings outstanding	0		0		0
Senior Notes Outstanding	6,700,000,000		6,700,000,000		6,700,000,000
Carrying Value of Debt	11,081,922,000		11,081,922,000		11,081,922,000		$ 10,608,294,000
Senior Notes [Member]
Debt Instrument [Line Items]
Issued amount	6,778,264,000		6,778,264,000		$ 6,778,264,000
Interest rate					3.10%		3.30%
Cash paid to redeem senior notes	652,000,000
Redeemed amount of issued notes	618,300,000		618,300,000		$ 618,300,000
Gains (losses) on early extinguishment of debt, net	(32,200,000)
Carrying Value of Debt	6,727,450,000		6,727,450,000		6,727,450,000		$ 6,417,492,000
Senior Notes [Member] | 2.25%, Maturing in 2029 [Member]
Debt Instrument [Line Items]
Issued amount	$ 645,300,000		645,300,000		645,300,000			£ 500
Interest rate	2.25%
Maturity year	2,029
Percentage of par value issued	99.94%
Senior notes all-in-rate	2.30%
2017 Yen Term Loan Tranche One [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 64,300,000		$ 64,300,000		$ 64,300,000						¥ 7,200,000,000
Debt Instrument maturity date					2027-03
Debt instrument interest rate	0.92%		0.92%		0.92%			0.92%	0.92%
2017 Yen Term Loan Tranche Two [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 42,900,000		$ 42,900,000		$ 42,900,000						4,800,000,000
Debt Instrument maturity date					2028-03
Debt instrument interest rate	1.01%		1.01%		1.01%			1.01%	1.01%
2017 Yen Senior Term Loan [Member]
Debt Instrument [Line Items]
Borrowings outstanding										$ 107,200,000	¥ 12,000,000,000
2017 Term Loan [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 1,000,000,000		$ 1,000,000,000		$ 1,000,000,000
Debt Instrument maturity date					2020-05
Borrowings outstanding	500,000,000		500,000,000		$ 500,000,000
2017 Term Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Issued amount		$ 500,000,000
2017 Term Loan [Member] | LIIBOR [Member]
Debt Instrument [Line Items]
Interest rate		0.90%
Term Loan [Member]
Debt Instrument [Line Items]
Interest rate					1.60%		1.40%
Carrying Value of Debt	1,954,091,000		1,954,091,000		$ 1,954,091,000		$ 1,484,523,000
Global Facility [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	3,000,000,000		3,000,000,000		3,000,000,000
Ability to increase borrowing capacity subject to currency fluctuations and obtaining additional lender commitments	3,800,000,000		3,800,000,000		$ 3,800,000,000
Debt Instrument maturity date					2020-04
Revolver [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	580,600,000		580,600,000		$ 580,600,000				¥ 65,000,000,000
Debt Instrument maturity date					2021-02
Credit facility current borrowing capacity	$ 446,700,000		$ 446,700,000		$ 446,700,000				¥ 50,000,000,000			¥ 45,000,000,000

Debt - Credit Facilities (Detai

Debt - Credit Facilities (Detail) $ in Millions	Jun. 30, 2017USD ($)
Debt Disclosure [Abstract]
Aggregate lender commitments	$ 3,452
Borrowings outstanding	0
Outstanding letters of credit	37
Current availability	$ 3,415

Debt - Long-Term Debt Maturitie

Debt - Long-Term Debt Maturities (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
2,017	$ 491
2,018	294,072
2,019	611,372
2020 (2)	1,834,714
2,021	1,736,338
2,022	1,387,909
2,023	1,926,485
2,024	974,457
2,025	884,378
2,026	711,119
Thereafter	764,138
Subtotal	11,125,473
Premiums (discounts), net	5,743
Debt issuance costs, net	(49,294)
Totals	11,081,922	$ 10,608,294
Senior Notes [Member]
Debt Instrument [Line Items]
2,017	0
2,018	175,000
2,019	0
2020 (2)	887,241
2,021	1,298,840
2,022	798,840
2,023	850,000
2,024	798,840
2,025	750,000
2,026	570,600
Thereafter	648,903
Subtotal	6,778,264
Premiums (discounts), net	(22,648)
Debt issuance costs, net	(28,166)
Totals	6,727,450	6,417,492
Term Loans And Other Debt [Member]
Debt Instrument [Line Items]
2,017	491
2,018	1,009
2,019	1,091
2020 (2)	501,155
2,021	954
2,022	447,396
2,023	913,201
2,024	882
2,025	958
2,026	599
Thereafter	112,851
Subtotal	1,980,587
Premiums (discounts), net	0
Debt issuance costs, net	(12,150)
Totals	1,968,437	$ 1,499,001
Secured Mortgage Debt [Member]
Debt Instrument [Line Items]
2,017	0
2,018	118,063
2,019	610,281
2020 (2)	446,318
2,021	436,544
2,022	141,673
2,023	163,284
2,024	174,735
2,025	133,420
2,026	139,920
Thereafter	2,384
Subtotal	2,366,622
Premiums (discounts), net	28,391
Debt issuance costs, net	(8,978)
Totals	$ 2,386,035

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2017
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		6 Months Ended	12 Months Ended
		Jun. 30, 2017	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Operating Partnership noncontrolling interest		$ 2,607,352	$ 3,072,469
Noncontrolling interests		3,012,942	3,467,059
Total Assets		30,150,395	30,249,932
Total Liabilities		12,290,157	11,791,792
Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Total Assets		6,955,419	9,678,752
Total Liabilities		$ 533,574	$ 1,871,094
Prologis US Logistics Venture [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage		55.00%	55.00%
Operating Partnership noncontrolling interest		$ 2,522,506	$ 2,424,800
Total Assets		6,105,549	6,201,278
Total Liabilities		$ 496,086	$ 797,593
Prologis North American Industrial Fund [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage	[1]	100.00%	66.10%
Operating Partnership noncontrolling interest	[1]	$ 0	$ 486,648
Total Assets	[1]	0	2,479,072
Total Liabilities	[1]	$ 0	$ 1,038,708
Prologis Brazil Logistics Partners Fund I [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage	[2]	100.00%	50.00%
Operating Partnership noncontrolling interest	[2]	$ 0	$ 61,836
Total Assets	[2]	0	131,581
Total Liabilities	[2]	$ 0	$ 720
Other Consolidated Entities [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership	[3]	various	various
Operating Partnership noncontrolling interest	[3]	$ 84,846	$ 99,185
Total Assets	[3]	849,870	866,821
Total Liabilities	[3]	37,488	34,073
Prologis, L.P. [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		2,607,352	3,072,469
Total Assets		30,150,395	30,249,932
Total Liabilities		12,290,157	11,791,792
Prologis, L.P. [Member] | Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Limited partners in Prologis, L.P.	[4],[5]	405,590	394,590
Total Assets	[4],[5]	0	0
Total Liabilities	[4],[5]	0	0
Prologis Inc [Member]
Noncontrolling Interest [Line Items]
Total Assets		6,955,419	9,678,752
Total Liabilities		533,574	1,871,094
Prologis Inc [Member] | Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		$ 3,012,942	$ 3,467,059
[1]	In March 2017, we acquired all of our partner’s interest for $710.2 million. The difference between the amount we paid and the noncontrolling interest balance was adjusted through Additional Paid-in Capital with no gain or loss recognized.
[2]	In March 2017, we acquired all of our partner’s interest for $79.8 million. The difference between the amount we paid and the noncontrolling interest balance was adjusted through Additional Paid-in Capital with no gain or loss recognized. At December 31, 2016, the assets of the Prologis Brazil Logistics Partners Fund I were primarily investments in unconsolidated entities of $113.1 million. For additional information on our unconsolidated investments, see Note 3.
[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 June 30, 2017, and December 31, 2016, limited partnership units were redeemable for cash or, at our option, 1.6 million shares of the Parent’s common stock. During the first six months of 2017, limited partnership units were redeemed for 265 thousand shares of the Parent’s common stock.
[4]	At June 30, 2017, and December 31, 2016, excluding the Class A Units, there were common limited partnership units in the Operating Partnership outstanding that were redeemable for cash or, at our option, 4.1 million shares and 4.6 million shares of the Parent’s common stock with a fair value of $242.2 million and $241.8 million, respectively, based on the closing stock price of the Parent’s common stock. During the first six months of 2017, unitholders redeemed 0.7 million common limited partnership units for an equal number of shares of the Parent’s common stock with a value of $18.8 million. At June 30, 2017, and December 31, 2016, there were 3.7 million and 2.2 million LTIP Units (as defined in Note 7) outstanding, respectively, associated with our long-term compensation plan that are convertible into common units of the Operating Partnership after they vest and other applicable conditions are met.
[5]	We had 8.9 million Class A Units that were convertible into 8.6 million and 8.7 million common limited partnership units of the Operating Partnership at June 30, 2017 and December 31, 2016, respectively.

Noncontrolling Interests - No51

Noncontrolling Interests - Noncontrolling Interest Summary (Parenthetical) (Detail) - USD ($) shares in Thousands, $ in Millions	1 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2017	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Outstanding limited partnership units, redeemed		265
Business acquisition, common limited partnership units issued		4,100		4,600
Fair value of outstanding limited partnership units		$ 242.2		$ 241.8
LTIP Units [Member]
Noncontrolling Interest [Line Items]
Number of units outstanding		3,700		2,200
Class A Common [Member]
Noncontrolling Interest [Line Items]
Units outstanding		8,900		8,900
Conversion and exchange of units to shares		8,600		8,700
Common Stock [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units		1,600		1,600
Prologis North American Industrial Fund [Member]
Noncontrolling Interest [Line Items]
Acquisition of partner's interest	$ 710.2
Prologis Brazil Logistics Partners Fund I [Member]
Noncontrolling Interest [Line Items]
Acquisition of partner's interest	$ 79.8
Investments in unconsolidated entities				$ 113.1
Prologis, L.P. [Member] | Class A Common [Member] | Limited Partners [Member]
Noncontrolling Interest [Line Items]
Units outstanding		8,894		8,894
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units, redeemed		700	900
Units outstanding		5,966		5,323
Conversion and exchange of units to shares		(677)
Limited partners units redeemed value		$ 18.8

Long-Term Compensation - Additi

Long-Term Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	6 Months Ended
	Jan. 31, 2017	Jun. 30, 2017	Jun. 30, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options outstanding		1,000,000
Stock options exercisable		1,000,000
Stock options outstanding, weighted average exercise price		$ 31.14
Stock options exercisable, weighted average exercise price		$ 31.14
Aggregate intrinsic value of exercised options		$ 19.8	$ 10
Options granted		0	0
Prologis Out-Performance Plan [Member] | 2017 – 2019 Performance Periods [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate fair value	$ 20.4
Assumed risk free interest rate	1.49%
Expected volatility rate	22.20%
Prologis Out-Performance Plan [Member] | 2014 – 2016 Performance Periods [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate of performance pool award	$ 62.2

Long-Term Compensation - Summar

Long-Term Compensation - Summary of Equity Awards Granted (Detail) - Prologis Promote Plan [Member] - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted	88	53
Grant date fair value	$ 4,800	$ 2,300
Long-Term Incentive Plan Units (LTIP units) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted	203	114
Grant date fair value	$ 11,100	$ 4,900

Long-Term Compensation - Summ54

Long-Term Compensation - Summary of Unvested POP LTIP Units Activity (Detail) - POP LTIP Units [Member] shares in Thousands	6 Months Ended
	Jun. 30, 2017shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Unvested Awards, beginning balance	3,490
Granted	38
Vested POP LTIP Units (1)	(698)
Forfeited	(576)
Number of Unvested Awards, ending balance	2,254

Long-Term Compensation - RSU an

Long-Term Compensation - RSU and Performance Share Awards (Detail) shares in Thousands	6 Months Ended
	Jun. 30, 2017$ / sharesshares
LTIP Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Awards, beginning balance	2,219
Granted	1,032
Vested POP LTIP Units	698
Conversion to Units	(227)
Number of Awards, ending balance	3,722
Weighted Average Grant-Date Fair Value | $ / shares	$ 40.81
Weighted Average Grant-Date Fair Value, Granted | $ / shares	0
Weighted Average Grant-Date Fair Value, Vested POP LTIP Units | $ / shares	0
Weighted Average Grant-Date Fair Value, Conversion to common limited partnership units | $ / shares	0
Weighted Average Grant-Date Fair Value | $ / shares	$ 45.55
Number of Shares, Beginning Balance	743
Number of Shares, Ending Balance	1,835
RSU and PSA [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Awards, beginning balance	1,617
Granted	757
Number of Awards, ending balance	1,545
Weighted Average Grant-Date Fair Value | $ / shares	$ 40.58
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
Weighted Average Grant-Date Fair Value | $ / shares	$ 45.29
Number of Shares, Beginning Balance	125
Number of Shares, Ending Balance	106
Vested and distributed	(783)
Forfeited	(46)

Earnings Per Common Share or 56

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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ 266,943	$ 275,383	$ 470,198	$ 483,424
Net earnings attributable to redeemable limited partnership unitholders	(7,798)	(9,085)	(13,765)	(15,694)
Adjusted net earnings attributable to common stockholders – Diluted	$ 274,741	$ 284,468	$ 483,963	$ 499,118
Weighted average common shares/units outstanding - Basic	530,040	524,842	529,400	524,540
Incremental weighted average effect on redemption of limited partnership units	16,364	17,703	16,409	17,623
Incremental weighted average effect of equity awards	5,710	2,843	4,703	2,130
Weighted average common shares/partnership units outstanding - Diluted	552,114	545,388	550,512	544,293
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 0.50	$ 0.52	$ 0.89	$ 0.92
Diluted	$ 0.50	$ 0.52	$ 0.88	$ 0.92
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	$ 274,320	$ 283,699	$ 483,198	$ 497,974
Net earnings attributable to limited partnership unitholders	421	768	765	1,143
Adjusted net earnings attributable to common stockholders – Diluted	$ 274,741	$ 284,467	$ 483,963	$ 499,117
Weighted average common shares/units outstanding - Basic	536,060	531,912	535,392	531,507
Incremental weighted average effect on conversion of Class A Units	8,626	8,798	8,645	8,821
Incremental weighted average effect on redemption of limited partnership units	1,718	1,835	1,772	1,835
Incremental weighted average effect of equity awards	5,710	2,843	4,703	2,130
Weighted average common shares/partnership units outstanding - Diluted	552,114	545,388	550,512	544,293
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 0.50	$ 0.52	$ 0.89	$ 0.92
Diluted	$ 0.50	$ 0.52	$ 0.88	$ 0.92
Prologis, L.P. [Member] | Class A Common [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ (4,347)	$ (4,619)	$ (7,678)	$ (8,129)
Adjusted net earnings attributable to common stockholders – Diluted	4,347	4,619	7,678	8,129
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	$ 269,973	$ 279,080	$ 475,520	$ 489,845

Earnings Per Common Share or 57

Earnings Per Common Share or Unit - Computation of Basic and Diluted Earnings Per Share Unit (Parenthetical) (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total potential dilutive shares and units outstanding	25,719	24,879	24,992	24,477
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	10,344	10,633	10,417	10,656
Total potentially dilutive stock awards outstanding	9,355	7,176	8,583	6,854
Total potential dilutive shares and units outstanding	19,699	17,809	19,000	17,510
Total potential dilutive shares and units outstanding limited partnership	6,020	7,070	5,992	6,967

Financial Instruments and Fai58

Financial Instruments and Fair Value Measurements - Schedule of Fair Value and Classification of Derivative Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Derivatives Fair Value [Line Items]
Asset	$ 19,528	$ 47,114
Liability	16,111	1,268
Forwards and Options [Member] | GBP [Member]
Derivatives Fair Value [Line Items]
Asset	8,401	16,985
Liability	4,048	0
Forwards and Options [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	31	831
Liability	546	197
Forwards and Options [Member] | EUR
Derivatives Fair Value [Line Items]
Asset	538	10,933
Liability	6,101	0
Forwards and Options [Member] | JPY [Member]
Derivatives Fair Value [Line Items]
Asset	6,919	9,246
Liability	1,512	1,071
Interest Rate Hedges [Member]
Derivatives Fair Value [Line Items]
Asset	3,639	435
Liability	0	0
Net Investment Hedges [Member] | GBP [Member]
Derivatives Fair Value [Line Items]
Asset	0	7,439
Liability	0	0
Net Investment Hedges [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	0	1,245
Liability	$ 3,904	$ 0

Financial Instruments and Fai59

Financial Instruments and Fair Value Measurements - Schedule of Fair Value and Classification of Derivative Instruments (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Foreign Currency Options [Member]
Derivatives Fair Value [Line Items]
Unrealized gains (losses) on foreign exchange transactions	$ (18.8)	$ 3.3	$ (32.5)	$ (13.5)

Financial Instruments and Fai60

Financial Instruments and Fair Value Measurements - Foreign Currency Contracts Activity (Detail)		6 Months Ended
		Jun. 30, 2017USD ($)DerivativeCAD / $£ / $€ / $¥ / $		Jun. 30, 2017EUR (€)DerivativeCAD / $£ / $€ / $¥ / $	Jun. 30, 2017GBP (£)DerivativeCAD / $£ / $€ / $¥ / $	Jun. 30, 2017JPY (¥)DerivativeCAD / $£ / $€ / $¥ / $	Jun. 30, 2017CADDerivativeCAD / $£ / $€ / $¥ / $	Jun. 30, 2016USD ($)		Jun. 30, 2016EUR (€)	Jun. 30, 2016GBP (£)	Jun. 30, 2016JPY (¥)	Jun. 30, 2016CAD
CAD
Derivative [Line Items]
Notional amounts at January 1		$ 38,000,000					CAD 50,000,000
New contracts		0					0
Matured, expired or settled contracts		(12,000,000)					(15,000,000)
Notional amounts at June 30		$ 26,000,000					CAD 35,000,000
Weighted average forward rate at March 31 | CAD / $		1.32		1.32	1.32	1.32	1.32
Active contracts at June 30		12		12	12	12	12
Net Investment Hedges [Member] | CAD
Derivative [Line Items]
Notional amounts at January 1		$ 100,000,000					CAD 133,000,000	$ 0					CAD 0
New contracts		99,000,000					133,000,000	100,000,000					133,000,000
Matured, expired or settled contracts		(100,000,000)					(133,000,000)	0					0
Notional amounts at June 30		$ 99,000,000					CAD 133,000,000	100,000,000					CAD 133,000,000
Weighted average forward rate at March 31 | CAD / $		1.34		1.34	1.34	1.34	1.34
Active contracts at June 30		2		2	2	2	2
Net Investment Hedges [Member] | GBP [Member]
Derivative [Line Items]
Notional amounts at January 1		$ 46,000,000			£ 31,000,000			386,000,000			£ 238,000,000
New contracts		127,000,000			100,000,000			85,000,000			60,000,000
Matured, expired or settled contracts		(173,000,000)			(131,000,000)			(100,000,000)			(60,000,000)
Notional amounts at June 30		$ 0			£ 0			371,000,000			238,000,000
Weighted average forward rate at March 31 | £ / $		0		0	0	0	0
Active contracts at June 30		0		0	0	0	0
Net Investment Hedges [Member] | JPY
Derivative [Line Items]
Notional amounts at January 1								0				¥ 0
New contracts								99,000,000				11,189,000,000
Matured, expired or settled contracts								(99,000,000)				(11,189,000,000)
Notional amounts at June 30								0				0
Foreign Currency Contracts [Member] | GBP [Member]
Derivative [Line Items]
Notional amounts at January 1		$ 78,000,000	[1]		£ 48,000,000			148,000,000	[1]		97,000,000
New contracts		137,000,000	[1]		107,000,000			0	[1]		0
Matured, expired or settled contracts		(46,000,000)	[1]		(31,000,000)			(36,000,000)	[1]		(24,000,000)
Notional amounts at June 30		$ 169,000,000	[1]		£ 124,000,000			112,000,000	[1]		£ 73,000,000
Weighted average forward rate at March 31 | £ / $		1.33		1.33	1.33	1.33	1.33
Active contracts at June 30		22		22	22	22	22
Foreign Currency Contracts [Member] | JPY
Derivative [Line Items]
Notional amounts at January 1		$ 144,000,000	[1]			¥ 15,500,000,000		109,000,000	[1]			12,840,000,000
New contracts		38,000,000	[1]			4,000,000,000		108,000,000	[1]			11,460,000,000
Matured, expired or settled contracts		(31,000,000)	[1]			(3,500,000,000)		(27,000,000)	[1]			(3,120,000,000)
Notional amounts at June 30		$ 151,000,000	[1]			¥ 16,000,000,000		190,000,000	[1]			¥ 21,180,000,000
Weighted average forward rate at March 31 | ¥ / $		106.51		106.51	106.51	106.51	106.51
Active contracts at June 30		32		32	32	32	32
Foreign Currency Contracts [Member] | EUR
Derivative [Line Items]
Notional amounts at January 1		$ 197,000,000	[1]	€ 174,000,000				310,000,000	[1]	€ 275,000,000
New contracts		63,000,000	[1]	56,000,000				192,000,000	[1]	171,000,000
Matured, expired or settled contracts		(56,000,000)	[1]	(50,000,000)				(85,000,000)	[1]	(75,000,000)
Notional amounts at June 30		$ 204,000,000	[1]	€ 180,000,000				417,000,000	[1]	€ 371,000,000
Weighted average forward rate at March 31 | € / $		1.13		1.13	1.13	1.13	1.13
Active contracts at June 30		26		26	26	26	26
Foreign Currency Contracts [Member] | USD [Member]
Derivative [Line Items]
Notional amounts at January 1 | $	[1]							50,000,000
New contracts | $	[1]							15,000,000
Matured, expired or settled contracts | $	[1]							(15,000,000)
Notional amounts at June 30 | $	[1]							$ 50,000,000
[1]	During the six months ended June 30, 2017, and 2016, we exercised 22 and 15 option contracts, respectively. We realized gains of $3.6 million and $8.9 million for the three and six months ended June 30, 2017, respectively, and gains of $0.2 million and $1.9 million for the three and six months ended June 30, 2016, respectively, in Foreign Currency and Derivative Losses, Net.

Financial Instruments and Fai61

Financial Instruments and Fair Value Measurements - Foreign Currency Contracts Activity (Parenthetical) (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)Contracts	Jun. 30, 2016USD ($)Contracts
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Number of option contracts exercised | Contracts			22	15
Gains (losses) from option contracts exercised | $	$ 3.6	$ 0.2	$ 8.9	$ 1.9

Financial Instruments and Fai62

Financial Instruments and Fair Value Measurements - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)Derivative	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)Derivative	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)Derivative
Derivatives Fair Value [Line Items]
Hedge ineffectiveness			$ 0	$ 0
Number of interest rate swaps hedges outstanding | Derivative	3		3		3
Derivative contract entered or settlement of interest rate swaps			$ 0	0
Foreign currency translation gains (losses)	$ 225,600,000	$ (136,000,000)	307,500,000	$ 18,800,000
Interest Rate Swaps [Member]
Derivatives Fair Value [Line Items]
Notional value of derivative	$ 271,200,000		$ 271,200,000		$ 271,200,000

Financial Instruments and Fai63

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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative instruments	$ 13,932	$ 15,586	$ 18,857	$ 7,602
Total derivative and nonderivative hedging instruments	(215,734)	107,002	(255,335)	(62,171)
Designated As Hedging Instrument [Member] | Derivative Net Investment Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative instruments	7,197	21,512	9,491	29,420
Designated As Hedging Instrument [Member] | Interest Rate and Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative instruments	4,559	(2,703)	4,988	(13,824)
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	2,176	(3,223)	4,378	(7,994)
Non-Derivative Net Investment Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Nonderivative net investment hedges	$ (229,666)	$ 91,416	$ (274,192)	$ (69,773)

Financial Instruments and Fai64

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 Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017EUR (€)	Mar. 31, 2017USD ($)	Mar. 31, 2017EUR (€)	Dec. 31, 2016USD ($)	Dec. 31, 2016EUR (€)
Derivative Instruments Gain Loss [Line Items]
Amount received from (paid for) on settlement of net investment hedges		$ 700,000	$ 15,900,000	$ 2,500,000	$ 16,800,000
Interest expense reclassified		75,354,000	76,455,000	148,266,000	157,267,000
Debt	$ 11,081,922,000	11,081,922,000		11,081,922,000					$ 10,608,294,000
Amount of gain (loss) included in AOCI		3,162,000	(23,061,000)	42,829,000	(21,600,000)
Senior notes	6,700,000,000	6,700,000,000		6,700,000,000
Forward Contracts
Derivative Instruments Gain Loss [Line Items]
Amount of gain (loss) included in AOCI		(7,200,000)	0	(11,300,000)	0
Foreign Currency Options [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of gain (loss) included in AOCI	0
Designated As Hedging Instrument [Member] | Forward Contracts
Derivative Instruments Gain Loss [Line Items]
Debt							$ 3,500,000,000	€ 3,100	$ 3,400,000,000	€ 3,200
Designated As Hedging Instrument [Member] | Foreign Currency Options [Member]
Derivative Instruments Gain Loss [Line Items]
Senior notes	645,300,000	645,300,000		645,300,000		€ 500
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Derivative Instruments Gain Loss [Line Items]
Interest expense reclassified		1,500,000	$ 1,100,000	2,900,000	$ 2,100,000
Amount to be reclassified to interest expense, next 12 months	$ 4,800,000	$ 4,800,000		$ 4,800,000

Financial Instruments and Fai65

Financial Instruments and Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	$ 11,081,922	$ 10,608,294
Fair Value of Debt	11,669,392	11,219,716
Credit Facilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	0	35,023
Fair Value of Debt	0	35,061
Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	6,727,450	6,417,492
Fair Value of Debt	7,216,569	6,935,485
Term Loans and Unsecured Other Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	1,968,437	1,499,001
Fair Value of Debt	1,986,654	1,510,661
Secured Mortgages [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	1,983,623	979,585
Fair Value of Debt	2,063,821	1,055,020
Secured Mortgage of Consolidated Entities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	402,412	1,677,193
Fair Value of Debt	$ 402,348	$ 1,683,489

Business Segments - Additional

Business Segments - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2017Segment
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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total revenues	$ 766,183	$ 602,155	$ 1,395,338	$ 1,208,455
Operating income	275,272	142,348	437,158	271,546
General and administrative expenses	60,077	56,934	113,694	107,477
Depreciation and amortization expenses	228,145	230,382	454,736	480,382
Earnings from unconsolidated entities, net	68,596	41,454	117,201	99,765
Interest expense	(75,354)	(76,455)	(148,266)	(157,267)
Interest and other income, net	1,892	1,527	4,677	4,118
Gains on dispositions of investments in real estate, net	83,006	200,350	180,331	344,667
Foreign currency and derivative losses, net	(20,055)	(10,335)	(27,455)	(24,546)
Gains (losses) on early extinguishment of debt, net	(30,596)	2,044	(30,596)	992
Earnings before income taxes	302,761	300,933	533,050	539,275
Total assets	30,150,395		30,150,395		$ 30,249,932
Investments in and advances to unconsolidated entities	4,617,724		4,617,724		4,230,429
Assets held for sale or contribution	350,987		350,987		322,139
Notes receivable backed by real estate	19,536		19,536		32,100
Cash and cash equivalents	271,354	332,221	271,354	332,221	807,316	$ 264,080
Other assets	1,415,879		1,415,879		1,496,990
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenues	766,183	602,155	1,395,338	1,208,455
Operating income	563,494	429,664	1,005,588	859,405
Total assets	24,698,080		24,698,080		24,614,975
Operating Segments [Member] | Real Estate Operations Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	585,529	548,620	1,157,639	1,103,917
Operating income	434,826	403,995	851,674	808,026
Total assets	24,634,988		24,634,988		24,547,949
Operating Segments [Member] | Strategic Capital Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	180,654	53,535	237,699	104,538
Operating income	128,668	25,669	153,914	51,379
Total assets	63,092		63,092		67,026
Operating Segments [Member] | U.S. [Member] | Real Estate Operations Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	529,841	501,707	1,053,988	1,012,864
Operating income	396,274	369,786	780,374	745,503
Total assets	21,295,808		21,295,808		21,286,422
Operating Segments [Member] | U.S. [Member] | Strategic Capital Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	130,677	9,580	142,585	18,936
Operating income	99,668	826	101,607	2,536
Total assets	17,454		17,454		18,090
Operating Segments [Member] | Other Americas [Member] | Real Estate Operations Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	16,444	15,083	31,533	29,018
Operating income	10,384	10,517	20,366	18,710
Total assets	1,052,052		1,052,052		978,476
Operating Segments [Member] | Other Americas [Member] | Strategic Capital Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	9,864	5,693	15,915	11,079
Operating income	7,587	3,052	10,732	6,188
Operating Segments [Member] | Europe [Member] | Real Estate Operations Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	22,076	19,533	40,307	36,008
Operating income	16,401	15,328	29,259	26,633
Total assets	1,139,882		1,139,882		1,346,589
Operating Segments [Member] | Europe [Member] | Strategic Capital Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	25,973	25,526	52,235	48,109
Operating income	16,342	18,450	32,732	34,070
Total assets	44,680		44,680		47,635
Operating Segments [Member] | Asia [Member] | Real Estate Operations Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	17,168	12,297	31,811	26,027
Operating income	11,767	8,364	21,675	17,180
Total assets	1,147,246		1,147,246		936,462
Operating Segments [Member] | Asia [Member] | Strategic Capital Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	14,140	12,736	26,964	26,414
Operating income	5,071	3,341	8,843	8,585
Total assets	958		958		1,301
Reconciling Items [Member]
Segment Reporting Information [Line Items]
Operating income	275,272	142,348	437,158	271,546
General and administrative expenses	60,077	56,934	113,694	107,477
Depreciation and amortization expenses	228,145	230,382	454,736	480,382
Earnings from unconsolidated entities, net	68,596	41,454	117,201	99,765
Interest expense	(75,354)	(76,455)	(148,266)	(157,267)
Interest and other income, net	1,892	1,527	4,677	4,118
Gains on dispositions of investments in real estate, net	83,006	200,350	180,331	344,667
Foreign currency and derivative losses, net	(20,055)	(10,335)	(27,455)	(24,546)
Gains (losses) on early extinguishment of debt, net	(30,596)	$ 2,044	(30,596)	$ 992
Total assets	5,452,315		5,452,315		5,634,957
Investments in and advances to unconsolidated entities	4,617,724		4,617,724		4,230,429
Assets held for sale or contribution	350,987		350,987		322,139
Notes receivable backed by real estate	19,536		19,536		32,100
Cash and cash equivalents	271,354		271,354		807,316
Other assets	$ 192,714		$ 192,714		$ 242,973

Supplemental Cash Flow Inform68

Supplemental Cash Flow Information - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Supplemental Cash Flow Information [Line Items]
Capitalization for equity based compensation expense	$ 14,000	$ 13,300
Outstanding limited partnership units, redeemed	265
Notes receivable backed by real estate	$ 19,536		$ 32,100
Interest paid, net of amounts capitalized	188,100	197,900
Cash paid for income taxes, net of refunds	23,600	$ 14,400
Unconsolidated Entities [Member]
Supplemental Cash Flow Information [Line Items]
Equity ownership interest received	22,800
Prologis, L.P. [Member]
Supplemental Cash Flow Information [Line Items]
Notes receivable backed by real estate	$ 19,536		$ 32,100
Limited Partners [Member] | Prologis, L.P. [Member] | Common [Member]
Supplemental Cash Flow Information [Line Items]
Outstanding limited partnership units, redeemed	700	900