Prologis (PLD) 10-Q 27 Oct 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 25, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
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		532,082,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Investments in real estate properties	$ 25,977,157	$ 27,119,330
Less accumulated depreciation	3,977,667	3,758,372
Net investments in real estate properties	21,999,490	23,360,958
Investments in and advances to unconsolidated entities	5,371,758	4,230,429
Assets held for sale or contribution	321,905	322,139
Notes receivable backed by real estate	0	32,100
Net investments in real estate	27,693,153	27,945,626
Cash and cash equivalents	568,726	807,316
Other assets	1,392,271	1,496,990
Total assets	29,654,150	30,249,932
Liabilities:
Debt	9,721,065	10,608,294
Accounts payable and accrued expenses	707,049	556,179
Other liabilities	666,780	627,319
Total liabilities	11,094,894	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 September 30, 2017, and December 31, 2016	78,235	78,235
Common stock: $0.01 par value; 532,081 shares and 528,671 shares issued and outstanding at September 30, 2017, and December 31, 2016, respectively	5,321	5,287
Additional paid-in capital	19,350,643	19,455,039
Accumulated other comprehensive loss	(924,620)	(937,473)
Distributions in excess of net earnings	(2,965,828)	(3,610,007)
Total Prologis, Inc. stockholders’ equity	15,543,751	14,991,081
Partners' capital:
Noncontrolling interests	3,015,505	3,467,059
Total equity	18,559,256	18,458,140
Total liabilities and equity	29,654,150	30,249,932
Prologis, L.P. [Member]
ASSETS
Investments in real estate properties	25,977,157	27,119,330
Less accumulated depreciation	3,977,667	3,758,372
Net investments in real estate properties	21,999,490	23,360,958
Investments in and advances to unconsolidated entities	5,371,758	4,230,429
Assets held for sale or contribution	321,905	322,139
Notes receivable backed by real estate	0	32,100
Net investments in real estate	27,693,153	27,945,626
Cash and cash equivalents	568,726	807,316
Other assets	1,392,271	1,496,990
Total assets	29,654,150	30,249,932
Liabilities:
Debt	9,721,065	10,608,294
Accounts payable and accrued expenses	707,049	556,179
Other liabilities	666,780	627,319
Total liabilities	11,094,894	11,791,792
Partners' capital:
Total partners’ capital	15,967,712	15,385,671
Noncontrolling interests	2,591,544	3,072,469
Total capital	18,559,256	18,458,140
Total liabilities and equity	29,654,150	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	15,465,516	14,912,846
Limited partners	174,354	150,173
Prologis, L.P. [Member] | Class A Common [Member]
Partners' capital:
Limited partners	$ 249,607	$ 244,417

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 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	532,081,000	528,671,000
Common stock, shares outstanding	532,081,000	528,671,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Rental	$ 416,427	$ 435,868	$ 1,304,271	$ 1,299,122
Rental recoveries	114,755	124,409	370,221	361,402
Strategic capital	68,042	142,581	305,741	247,119
Development management and other	3,650	1,707	17,979	5,377
Total revenues	602,874	704,565	1,998,212	1,913,020
Expenses:
Rental	128,735	140,514	429,185	427,820
Strategic capital	35,996	44,624	119,781	97,783
General and administrative	57,656	58,157	171,350	165,634
Depreciation and amortization	201,903	224,867	656,639	705,249
Other	3,093	3,779	8,608	12,364
Total expenses	427,383	471,941	1,385,563	1,408,850
Operating income	175,491	232,624	612,649	504,170
Other income (expense):
Earnings from unconsolidated entities, net	55,066	45,857	172,267	145,622
Interest expense	(64,190)	(75,310)	(212,456)	(232,577)
Interest and other income, net	4,816	2,932	9,493	7,051
Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net	779,053	117,296	959,384	461,963
Foreign currency and derivative losses, net	(18,872)	(1,730)	(46,327)	(26,277)
Gains (losses) on early extinguishment of debt, net	0	1,492	(30,596)	2,484
Total other income	755,873	90,537	851,765	358,266
Earnings before income taxes	931,364	323,161	1,464,414	862,436
Total income tax expense	17,947	15,919	42,328	36,598
Consolidated net earnings	913,417	307,242	1,422,086	825,838
Less net earnings attributable to noncontrolling interests	35,524	26,316	70,647	58,103
Net earnings attributable to controlling interests	877,893	280,926	1,351,439	767,735
Less preferred stock/unit dividends/distributions	1,675	1,671	5,023	5,056
Net earnings attributable to common stockholders/unitholders	$ 876,218	$ 279,255	$ 1,346,416	$ 762,679
Weighted average common shares/units outstanding – Basic	531,288	527,288	530,036	525,462
Weighted average common shares/units outstanding - Diluted	554,163	547,200	551,618	545,228
Net earnings per share attributable to common stockholders/unitholders - Basic	$ 1.65	$ 0.53	$ 2.54	$ 1.45
Net earnings per share attributable to common stockholders/unitholders - Diluted	1.63	0.52	2.51	1.44
Dividends per common share or unit	$ 0.44	$ 0.42	$ 1.32	$ 1.26
Prologis, L.P. [Member]
Revenues:
Rental	$ 416,427	$ 435,868	$ 1,304,271	$ 1,299,122
Rental recoveries	114,755	124,409	370,221	361,402
Strategic capital	68,042	142,581	305,741	247,119
Development management and other	3,650	1,707	17,979	5,377
Total revenues	602,874	704,565	1,998,212	1,913,020
Expenses:
Rental	128,735	140,514	429,185	427,820
Strategic capital	35,996	44,624	119,781	97,783
General and administrative	57,656	58,157	171,350	165,634
Depreciation and amortization	201,903	224,867	656,639	705,249
Other	3,093	3,779	8,608	12,364
Total expenses	427,383	471,941	1,385,563	1,408,850
Operating income	175,491	232,624	612,649	504,170
Other income (expense):
Earnings from unconsolidated entities, net	55,066	45,857	172,267	145,622
Interest expense	(64,190)	(75,310)	(212,456)	(232,577)
Interest and other income, net	4,816	2,932	9,493	7,051
Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net	779,053	117,296	959,384	461,963
Foreign currency and derivative losses, net	(18,872)	(1,730)	(46,327)	(26,277)
Gains (losses) on early extinguishment of debt, net	0	1,492	(30,596)	2,484
Total other income	755,873	90,537	851,765	358,266
Earnings before income taxes	931,364	323,161	1,464,414	862,436
Total income tax expense	17,947	15,919	42,328	36,598
Consolidated net earnings	913,417	307,242	1,422,086	825,838
Less net earnings attributable to noncontrolling interests	11,411	18,628	33,534	35,865
Net earnings attributable to controlling interests	902,006	288,614	1,388,552	789,973
Less preferred stock/unit dividends/distributions	1,675	1,671	5,023	5,056
Net earnings attributable to common stockholders/unitholders	$ 900,331	$ 286,943	$ 1,383,529	$ 784,917
Weighted average common shares/units outstanding – Basic	537,257	532,934	536,021	531,985
Weighted average common shares/units outstanding - Diluted	554,163	547,200	551,618	545,228
Net earnings per share attributable to common stockholders/unitholders - Basic	$ 1.65	$ 0.53	$ 2.54	$ 1.45
Net earnings per share attributable to common stockholders/unitholders - Diluted	1.63	0.52	2.51	1.44
Dividends per common share or unit	$ 0.44	$ 0.42	$ 1.32	$ 1.26

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Consolidated net earnings	$ 913,417	$ 307,242	$ 1,422,086	$ 825,838
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	4,061	(48,232)	46,890	(69,832)
Unrealized gains (losses) on derivative contracts, net	6,091	4,696	15,457	(17,122)
Comprehensive income	923,569	263,706	1,484,433	738,884
Net earnings attributable to noncontrolling interests	(35,524)	(26,316)	(70,647)	(58,103)
Other comprehensive loss (income) attributable to noncontrolling interests	(576)	2,392	(49,494)	(10,840)
Comprehensive income attributable to common stockholders / unitholders	887,469	239,782	1,364,292	669,941
Prologis, L.P. [Member]
Consolidated net earnings	913,417	307,242	1,422,086	825,838
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	4,061	(48,232)	46,890	(69,832)
Unrealized gains (losses) on derivative contracts, net	6,091	4,696	15,457	(17,122)
Comprehensive income	923,569	263,706	1,484,433	738,884
Net earnings attributable to noncontrolling interests	(11,411)	(18,628)	(33,534)	(35,865)
Other comprehensive loss (income) attributable to noncontrolling interests	(313)	1,406	(49,141)	(13,438)
Comprehensive income attributable to common stockholders / unitholders	$ 911,845	$ 246,484	$ 1,401,758	$ 689,581

Consolidated Statement of Equit

Consolidated Statement of Equity - 9 months ended Sep. 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	$ 1,422,086					1,351,439	70,647
Effect of equity compensation plans	88,678		$ 19	58,679			29,980
Effect of equity compensation plans, shares			1,895
Capital contributions	150,076						150,076
Settlement of noncontrolling interests	(790,016)			(202,040)			(587,976)
Conversion of noncontrolling interests			$ 15	47,711			(47,726)
Conversion of noncontrolling interests, shares			1,515
Foreign currency translation gains (losses), net	46,890				(2,191)		49,081
Unrealized gains on derivative contracts, net	15,457				15,044		413
Reallocation of equity				(8,712)			8,712
Distributions and other	(832,055)			(34)		(707,260)	(124,761)
Balance at Sep. 30, 2017	$ 18,559,256	$ 78,235	$ 5,321	$ 19,350,643	$ (924,620)	$ (2,965,828)	$ 3,015,505
Balance, shares at Sep. 30, 2017	532,081		532,081

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating activities:
Consolidated net earnings	$ 1,422,086	$ 825,838
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(66,234)	(74,664)
Equity-based compensation awards	58,091	43,658
Depreciation and amortization	656,639	705,249
Earnings from unconsolidated entities, net	(172,267)	(145,622)
Distributions from unconsolidated entities	231,441	210,439
Net increase in operating receivables from unconsolidated entities	(19,530)	(56,992)
Amortization of debt premiums, net of debt issuance costs	(1,585)	(13,047)
Gains on dispositions of investments in real estate, net	(959,384)	(461,963)
Unrealized foreign currency and derivative losses, net	55,646	21,266
Losses (gains) on early extinguishment of debt, net	30,596	(2,484)
Deferred income tax benefit	(197)	(1,737)
Decrease (increase) in accounts receivable and other assets	76,170	(48,231)
Increase (decrease) in accounts payable and accrued expenses and other liabilities	48,841	(4,699)
Net cash provided by operating activities	1,360,313	997,011
Investing activities:
Real estate development	(1,095,623)	(1,225,613)
Real estate acquisitions	(295,178)	(280,797)
Tenant improvements and lease commissions on previously leased space	(112,442)	(125,041)
Nondevelopment capital expenditures	(68,698)	(66,298)
Proceeds from dispositions and contributions of real estate properties	2,354,547	1,859,317
Investments in and advances to unconsolidated entities	(244,301)	(228,588)
Acquisition of a controlling interest in an unconsolidated venture, net of cash received	(374,605)	0
Return of investment from unconsolidated entities	143,604	579,134
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 investing activities	341,887	730,132
Financing activities:
Proceeds from issuance of common stock	30,684	38,101
Dividends paid on common and preferred stock	(707,260)	(669,384)
Noncontrolling interests contributions	135,857	1,026
Noncontrolling interests distributions	(132,004)	(301,268)
Purchase of noncontrolling interests	(790,016)	(2,979)
Tax paid for shares withheld	(19,626)	(7,862)
Debt and equity issuance costs paid	(7,020)	(19,265)
Net payments on credit facilities	(33,745)	(3,545)
Repurchase and payments of debt	(2,728,198)	(1,675,818)
Proceeds from issuance of debt	2,294,041	1,012,331
Net cash used in financing activities	(1,957,287)	(1,628,663)
Effect of foreign currency exchange rate changes on cash	16,497	12,560
Net increase (decrease) in cash and cash equivalents	(238,590)	111,040
Cash and cash equivalents, beginning of period	807,316	264,080
Cash and cash equivalents, end of period	568,726	375,120
Prologis, L.P. [Member]
Operating activities:
Consolidated net earnings	1,422,086	825,838
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(66,234)	(74,664)
Equity-based compensation awards	58,091	43,658
Depreciation and amortization	656,639	705,249
Earnings from unconsolidated entities, net	(172,267)	(145,622)
Distributions from unconsolidated entities	231,441	210,439
Net increase in operating receivables from unconsolidated entities	(19,530)	(56,992)
Amortization of debt premiums, net of debt issuance costs	(1,585)	(13,047)
Gains on dispositions of investments in real estate, net	(959,384)	(461,963)
Unrealized foreign currency and derivative losses, net	55,646	21,266
Losses (gains) on early extinguishment of debt, net	30,596	(2,484)
Deferred income tax benefit	(197)	(1,737)
Decrease (increase) in accounts receivable and other assets	76,170	(48,231)
Increase (decrease) in accounts payable and accrued expenses and other liabilities	48,841	(4,699)
Net cash provided by operating activities	1,360,313	997,011
Investing activities:
Real estate development	(1,095,623)	(1,225,613)
Real estate acquisitions	(295,178)	(280,797)
Tenant improvements and lease commissions on previously leased space	(112,442)	(125,041)
Nondevelopment capital expenditures	(68,698)	(66,298)
Proceeds from dispositions and contributions of real estate properties	2,354,547	1,859,317
Investments in and advances to unconsolidated entities	(244,301)	(228,588)
Acquisition of a controlling interest in an unconsolidated venture, net of cash received	(374,605)	0
Return of investment from unconsolidated entities	143,604	579,134
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 investing activities	341,887	730,132
Financing activities:
Proceeds from issuance of common stock	30,684	38,101
Dividends paid on common and preferred stock	(735,294)	(698,647)
Noncontrolling interests contributions	135,857	1,026
Noncontrolling interests distributions	(103,970)	(272,856)
Purchase of noncontrolling interests	(790,016)	(2,128)
Tax paid for shares withheld	(19,626)	(7,862)
Debt and equity issuance costs paid	(7,020)	(19,265)
Net payments on credit facilities	(33,745)	(3,545)
Repurchase and payments of debt	(2,728,198)	(1,675,818)
Proceeds from issuance of debt	2,294,041	1,012,331
Net cash used in financing activities	(1,957,287)	(1,628,663)
Effect of foreign currency exchange rate changes on cash	16,497	12,560
Net increase (decrease) in cash and cash equivalents	(238,590)	111,040
Cash and cash equivalents, beginning of period	807,316	264,080
Cash and cash equivalents, end of period	$ 568,726	$ 375,120

Consolidated Statements of Capi

Consolidated Statements of Capital - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Dec. 31, 2016
Consolidated net earnings	$ 913,417	$ 1,422,086
Effect of equity compensation plans		88,678
Capital contributions		150,076
Unrealized gains on derivative contracts, net	$ 6,091	15,457
Non-controlling Interests [Member]
Consolidated net earnings		70,647
Effect of equity compensation plans		29,980
Capital contributions		150,076
Unrealized gains on derivative contracts, net		$ 413
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	$ 913,417	1,422,086
Effect of equity compensation plans		88,678
Capital contributions		150,076
Settlement of noncontrolling interests		(790,016)
Foreign currency translation gains (losses), net		46,890
Unrealized gains on derivative contracts, net	6,091	15,457
Distributions and other		(832,055)
Ending balance	18,559,256	18,559,256	$ 18,458,140
Prologis, L.P. [Member] | Non-controlling Interests [Member]
Beginning balance		3,072,469
Consolidated net earnings		33,534
Capital contributions		150,076
Settlement of noncontrolling interests		(587,976)
Conversion of limited partners units		(28,973)
Foreign currency translation gains (losses), net		49,141
Distributions and other		(96,727)
Ending balance	2,591,544	2,591,544	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		$ 1,351,439
Effect of equity compensation plans		$ 58,698
Effect of equity compensation plans, shares		1,895
Settlement of noncontrolling interests		$ (202,040)
Conversion of limited partners units		$ 47,726
Conversion of limited partners units, shares		1,515
Foreign currency translation gains (losses), net		$ (2,191)
Unrealized gains on derivative contracts, net		15,044
Reallocation of capital		(8,712)
Distributions and other		(707,294)
Ending balance	$ 15,465,516	$ 15,465,516	$ 14,912,846
Ending balance, Units	532,081	532,081	528,671
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Beginning balance		$ 150,173
Beginning balance, Units		5,323
Consolidated net earnings		$ 15,202
Effect of equity compensation plans		$ 29,980
Effect of equity compensation plans, shares		1,353
Conversion of limited partners units		$ (18,753)
Conversion of limited partners units, shares		(677)
Foreign currency translation gains (losses), net		$ (25)
Unrealized gains on derivative contracts, net		170
Reallocation of capital		8,386
Distributions and other		(10,779)
Ending balance	$ 174,354	$ 174,354	$ 150,173
Ending balance, Units	5,999	5,999	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		$ 21,911
Foreign currency translation gains (losses), net		(35)
Unrealized gains on derivative contracts, net		243
Reallocation of capital		326
Distributions and other		(17,255)
Ending balance	$ 249,607	$ 249,607	$ 244,417
Ending balance, Units	8,894	8,894	8,894

General

General	9 Months Ended
	Sep. 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 September 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. 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 real estate property acquisitions to qualify as asset acquisitions under the standard that permits the capitalization of acquisition costs to the basis of the acquired real estate property. 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 evaluated 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 contributions of properties to unconsolidated co-investment ventures. While we do not expect changes in the recognition of recurring fees earned, we may begin recognizing promote fees earlier in the incentive period to the extent it is probable that a revenue reversal will not occur in a future period. For dispositions of real estate to third parties, we do not expect the standard to impact the recognition of the sale. 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 of real estate properties. Upon adoption of the standard, we will recognize, on a prospective basis, the entire gain attributed to contributions or sales of real estate properties 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 underlying real estate properties. 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. • As a lessor. 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, these costs are capitalizable and therefore this new standard will result in certain of these costs being expensed as incurred after adoption. This standard may also impact the timing, recognition, presentation and disclosures related to our rental recoveries from tenants earned from leasing our operating properties, although we do not expect a significant impact. • As a lessee. 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 of 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. We are in the process of calculating and estimating the initial right-of-use assets and lease liabilities that will be recorded upon adoption. 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 accompanying notes to 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. Derivatives and Hedging . In August 2017, the FASB issued an accounting standard update that simplifies the application of hedge accounting guidance in current GAAP and improves the reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements. Among the simplification updates, the standard eliminates the requirement in current GAAP to separately recognize periodic hedge ineffectiveness. Mismatches between the changes in value of the hedged item and hedging instrument may still occur but they will no longer be separately reported. The standard requires the presentation of the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is reported. The standard is effective for annual and interim reporting periods beginning after December 15, 2018, but early adoption is permitted. We are currently evaluating the impact the adoption of this standard will have on the Consolidated Financial Statements.

Real Estate

Real Estate	9 Months Ended
	Sep. 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 September 30, December 31, September 30, December 31, September 30, December 31, 2017 2016 2017 2016 2017 2016 Operating properties Buildings and improvements 298,240 331,210 1,566 1,776 $ 16,829,500 $ 17,905,914 Improved land 5,826,773 6,037,543 Development portfolio, including land costs: Prestabilized 7,394 8,256 24 29 441,235 798,233 Properties under development 22,189 19,539 55 60 1,059,764 633,849 Land (1) 1,313,268 1,218,904 Other real estate investments (2) 506,617 524,887 Total investments in real estate properties 25,977,157 27,119,330 Less accumulated depreciation 3,977,667 3,758,372 Net investments in real estate properties $ 21,999,490 $ 23,360,958 (1) Included in our investments in real estate at September 30, 2017, and December 31, 2016, were 5,871 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. Acquisitions The following table summarizes our real estate acquisition activity for the three and nine months ended September 30 (dollars and square feet in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Acquisitions of operating properties from third parties and a controlling interest in an unconsolidated venture Number of operating properties 12 1 14 7 Square feet 6,328 42 6,478 931 Acquisition value of net investments in real estate properties (1) $ 703,686 $ 16,795 $ 744,581 $ 86,840 (1) In August 2017, we acquired our partner’s interest in certain joint ventures in Brazil for an aggregate price of R$1.2 billion ($381.7 million). As a result of this transaction, we began consolidating total real estate that included the operating properties above, two prestabilized properties and 531.4 acres of undeveloped land. We accounted for the acquisition as a business combination and the results of operations for these real estate properties were not significant in 2017. The current allocation of the purchase price is preliminary and the valuation of the real estate properties and other assets acquired is still being finalized. Dispositions The following table summarizes our real estate disposition activity for the three and nine months ended September 30 (dollars and square feet in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Contributions to unconsolidated co-investment ventures (1) Number of properties 201 11 211 21 Square feet 41,776 2,657 45,420 6,676 Net proceeds (2) $ 2,356,322 $ 185,811 $ 2,869,428 $ 649,511 Gains on contributions, net (2) $ 647,647 $ 29,197 $ 773,715 $ 132,787 Dispositions to third parties Number of properties 7 48 45 147 Square feet 2,179 5,041 8,217 15,606 Net proceeds (2) (3) $ 155,227 $ 410,602 $ 614,906 $ 1,300,209 Gains on dispositions, net (2) (3) $ 50,259 $ 88,099 $ 104,522 $ 242,561 Total gains on contributions and dispositions, net $ 697,906 $ 117,296 $ 878,237 $ 375,348 Gains on revaluation of equity investments upon acquisition of a controlling interest and redemption of investment in co-investment ventures 81,147 - 81,147 86,615 Total gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net $ 779,053 $ 117,296 $ 959,384 $ 461,963 (1) In July 2017, we contributed 190 operating properties totaling 37.1 million square feet owned by Prologis North American Industrial Fund (“NAIF”), which was wholly-owned beginning March 2017, to Prologis Targeted U.S. Logistics Fund (“USLF”), our unconsolidated co-investment venture, for an aggregate price of $2.8 billion. We received cash proceeds and additional units, which increased our ownership interest in USLF to 27.1% and USLF assumed $956.0 million of secured debt. (2) Also includes the contribution and disposition of land parcels. (3) Also includes the sale of our investment in Europe Logistics Venture 1 (“ELV”) in January 2017. See Note 3 for more information on this transaction.

Unconsolidated Entities

Unconsolidated Entities	9 Months Ended
	Sep. 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): September 30, December 31, 2017 2016 Unconsolidated co-investment ventures $ 5,118,553 $ 4,057,524 Other ventures 253,205 172,905 Totals $ 5,371,758 $ 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 September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Strategic capital revenues from unconsolidated co-investment ventures, net: U.S. $ 16,841 $ 9,565 $ 158,064 $ 27,739 Other Americas 6,216 5,806 22,131 16,885 Europe 26,323 113,489 78,450 161,257 Asia 18,271 13,174 44,990 39,429 Total $ 67,651 $ 142,034 $ 303,635 $ 245,310 Earnings from unconsolidated co-investment ventures, net: U.S. $ 18,307 $ 1,763 $ 25,216 $ 9,140 Other Americas 6,570 8,077 22,073 20,885 Europe 23,848 29,802 89,622 90,395 Asia 5,050 4,905 23,489 12,253 Total $ 53,775 $ 44,547 $ 160,400 $ 132,673 The following table summarizes the promotes earned and recognized in Strategic Capital Revenues Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Total promote (1) $ - $ 99,766 $ 150,898 $ 99,766 Less: Prologis' share - 11,222 23,806 11,222 Net promote recognized (third-party share) in strategic capital revenues $ - $ 88,544 $ 127,092 $ 88,544 (1) We earned promotes from ELV, FIBRA Prologis and USLF in 2017 and Prologis European Properties Fund II and in 2016 . 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: September 30, December 31, September 30, (dollars and square feet in millions) 2017 2016 2016 U.S. (1): Number of ventures 1 1 1 Number of operating properties owned 552 369 366 Square feet 88 50 49 Total assets $ 7,311 $ 4,238 $ 4,167 Third-party debt $ 2,270 $ 1,414 $ 1,421 Total liabilities $ 2,473 $ 1,540 $ 1,509 Our investment balance (2) (3) $ 1,393 $ 435 $ 514 Our weighted average ownership (3) (4) 27.1 % 14.9 % 17.8 % Other Americas (5): Number of ventures 1 2 2 Number of operating properties owned 203 213 209 Square feet 37 42 41 Total assets $ 2,107 $ 2,793 $ 2,679 Third-party debt $ 727 $ 739 $ 671 Total liabilities $ 761 $ 814 $ 754 Our investment balance (2) $ 564 $ 845 $ 851 Our weighted average ownership (4) 42.9 % 43.9 % 43.7 % Europe (6) (7): Number of ventures 4 4 4 Number of operating properties owned 709 700 694 Square feet 167 163 160 Total assets $ 12,767 $ 10,853 $ 11,291 Third-party debt $ 2,742 $ 2,446 $ 2,628 Total liabilities $ 3,748 $ 3,283 $ 3,620 Our investment balance (2) (3) $ 2,649 $ 2,327 $ 2,565 Our weighted average ownership (3) (4) 33.2 % 35.1 % 36.3 % Asia: Number of ventures 2 2 2 Number of operating properties owned 93 85 79 Square feet 40 36 34 Total assets $ 5,907 $ 5,173 $ 5,439 Third-party debt $ 2,186 $ 1,947 $ 2,004 Total liabilities $ 2,504 $ 2,239 $ 2,313 Our investment balance (2) $ 513 $ 451 $ 493 Our weighted average ownership (4) 15.1 % 15.1 % 15.0 % Total: Number of ventures 8 9 9 Number of operating properties owned 1,557 1,367 1,348 Square feet 332 291 284 Total assets $ 28,092 $ 23,057 $ 23,576 Third-party debt $ 7,925 $ 6,546 $ 6,724 Total liabilities $ 9,486 $ 7,876 $ 8,196 Our investment balance (2) $ 5,119 $ 4,058 $ 4,423 Our weighted average ownership (4) 28.7 % 27.9 % 28.9 % Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2017 2016 2017 2016 Revenues: U.S. $ 160 $ 100 $ 369 $ 296 Other Americas 60 63 190 179 Europe 266 232 758 724 Asia 95 91 272 253 Total revenues $ 581 $ 486 $ 1,589 $ 1,452 Net earnings: U.S. $ 64 $ 11 $ 115 $ 47 Other Americas 19 20 58 53 Europe 63 77 229 218 Asia 30 30 147 74 Total net earnings $ 176 $ 138 $ 549 $ 392 (1) In July 2017, we contributed operating properties to USLF. We received cash proceeds and additional units, which increased our ownership interest in USLF to 27.1%. See Note 2 for more information on this transaction. (2) The difference between our ownership interest of a venture’s equity and our investment balance at September 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 real estate property to a venture ($667.7 million and $469.9 million, respectively); (ii) recording additional costs associated with our investment in a venture ($106.3 million and $124.1 million, respectively); and (iii) advances to a venture ($195.2 million and $166.1 million, respectively). (3) In April 2016, we redeemed a portion of our investment in PTELF and 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 ( 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. ( 5 ) In August 2017, we acquired our partner’s interest in certain joint ventures in Brazil. See Note 2 for more information on this acquisition. Included in the Other Americas’ balances are nine properties aggregating 2.8 million square feet associated with the remaining Brazil joint ventures. (6 ) 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. (7 ) In February 2017, we formed the Prologis UK 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. Upon formation, we, along with our venture partner, committed £380.0 million ($508.9 million at September 30, 2017), of which our share is £57.0 million ($76.0 million at September 30, 2017). During the nine months ended September 30, 2017, we contributed 1.4 million square feet of stabilized properties, 0.6 million square feet of properties under development and 144.8 acres of land for an aggregate price of £269.5 million ($336.4 million). We expect to continue to contribute properties and land into UKLV. Equity Commitments Related to Certain Unconsolidated Co-Investment Ventures The following table summarizes the remaining equity commitments at September 30, 2017 (in millions): Equity Commitments Expiration Date for Remaining Commitments Prologis Venture Partners Total Prologis Targeted U.S. Logistics Fund $ - $ 195 $ 195 2019 Prologis Targeted Europe Logistics Fund (1) - 623 623 2018 – 2019 Prologis United Kingdom Logistics Venture (2) 37 207 244 2021 Prologis China Logistics Venture 294 1,665 1,959 2020 – 2024 Totals $ 331 $ 2,690 $ 3,021 (1) Equity commitments are denominated in euro and reported in U.S. dollars based on an exchange rate of $1.18 U.S. dollars to the euro. (2) Equity commitments are denominated in British pounds sterling and reported in U.S. dollars based on an exchange rate of $1.34 U.S. dollars to the British pound sterling.

Assets Held for Sale or Contrib

Assets Held for Sale or Contribution	9 Months Ended
	Sep. 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 September 30, 2017, and December 31, 2016. These real estate 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): September 30, December 31, 2017 2016 Number of operating properties 26 13 Square feet 4,952 4,167 Total assets held for sale or contribution $ 321,905 $ 322,139 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 7,389 $ 4,984

Debt

Debt	9 Months Ended
	Sep. 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): September 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 % 6,874,108 3.3 % 6,417,492 Term loans 1.5 % 1,620,688 1.4 % 1,484,523 Unsecured other 6.1 % 13,994 6.1 % 14,478 Secured mortgages 5.7 % 812,371 4.9 % 979,585 Secured mortgages of consolidated entities (3) 2.8 % 399,904 3.0 % 1,677,193 Totals 3.0 % $ 9,721,065 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 ($3.7 billion), Japanese yen ($1.3 billion), British pounds sterling ($0.7 billion) and Canadian dollars ($0.5 billion). (3) I 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 ($444.4 million at September 30, 2017). We have the ability to increase the Revolver to ¥65.0 billion ($577.8 million at September 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 September 30, 2017 (in millions): Aggregate lender commitments $ 3,476 Less: Borrowings outstanding - Outstanding letters of credit 38 Current availability $ 3,438 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 June 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. In 2017, 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 ($64.0 million at September September 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. In the third quarter of 2017, we repaid this balance and subsequently borrowed $160.0 million, which remained outstanding at September 30, 2017. 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 September 30, 2017 (in thousands): Unsecured Senior Term Loans Secured Maturity Notes and Other Mortgage Debt Total 2017 (1) $ - $ 453 $ 3,180 $ 3,633 2018 (1) 175,000 934 404,668 580,602 2019 - 1,013 446,324 447,337 2020 (2) 910,437 161,077 12,401 1,083,915 2021 1,326,420 910 14,804 1,342,134 2022 826,420 445,170 10,815 1,282,405 2023 850,000 921,982 33,866 1,805,848 2024 826,420 874 133,551 960,845 2025 750,000 950 145,671 896,621 2026 590,300 591 1,232 592,123 Thereafter 669,441 112,320 1,169 782,930 Subtotal 6,924,438 1,646,274 1,207,681 9,778,393 Premiums (discounts), net (22,100 ) - 8,554 (13,546 ) Debt issuance costs, net (28,230 ) (11,592 ) (3,960 ) (43,782 ) Totals $ 6,874,108 $ 1,634,682 $ 1,212,275 $ 9,721,065 (1) We expect to repay the amounts maturing in 2017 and 2018 with cash generated from operations, proceeds from the dispositions of 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, as discussed above. Debt Covenants We have $6.9 billion of senior notes and $1.6 billion of term loans outstanding at September 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 September 30, 2017, we were in compliance with all financial covenants.

Noncontrolling Interests

Noncontrolling Interests	9 Months Ended
	Sep. 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 September 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 % $ 2,512,472 $ 2,424,800 $ 6,105,053 $ 6,201,278 $ 515,962 $ 797,593 Prologis North American Industrial Fund (1) N/A 66.1 % - 486,648 - 2,479,072 - 1,038,708 Prologis Brazil Logistics Partners Fund I (2) N/A 50.0 % - 61,836 - 131,581 - 720 Other consolidated entities (3) various various 79,072 99,185 845,660 866,821 30,396 34,073 Prologis, L.P. noncontrolling interests 2,591,544 3,072,469 6,950,713 9,678,752 546,358 1,871,094 Limited partners in Prologis, L.P. (4) (5) 423,961 394,590 - - - - Prologis, Inc. noncontrolling interests $ 3,015,505 $ 3,467,059 $ 6,950,713 $ 9,678,752 $ 546,358 $ 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 September 30, 2017, and December 31, 2016, limited partnership units were redeemable for cash or, at our option, 1.0 million and 1.8 million shares of the Parent’s common stock. During the first nine months of 2017, limited partnership units were redeemed for 0.8 million 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 September 30, 2017 and December 31, 2016, respectively. (5) At September 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 $262.2 million and $241.8 million, respectively, based on the closing stock price of the Parent’s common stock. In 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 September 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	9 Months Ended
	Sep. 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 nine months ended September 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 nine months ended September 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 September 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 nine months ended September 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 (234 ) Balance at September 30, 2017 3,715 $ 45.54 1,868 Restricted Stock Units (“RSUs”) The following table summarizes the activity for RSUs for the nine months ended September 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 (802 ) Forfeited (63 ) Balance at September 30, 2017 1,509 $ 45.35 106 Stock Options We have 0.8 million stock options outstanding and exercisable at September 30, 2017, with a weighted average exercise price of $30.81. The aggregate intrinsic value of exercised options was $24.4 million and $43.9 million for the nine months ended September 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	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, Prologis, Inc. 2017 2016 2017 2016 Net earnings attributable to common stockholders – Basic $ 876,218 $ 279,255 $ 1,346,416 $ 762,679 Net earnings attributable to redeemable limited partnership unitholders (1) 24,362 7,713 38,127 24,479 Adjusted net earnings attributable to common stockholders – Diluted $ 900,580 $ 286,968 $ 1,384,543 $ 787,158 Weighted average common shares outstanding – Basic 531,288 527,288 530,036 525,462 Incremental weighted average effect on redemption of limited partnership units (1) 15,641 14,568 16,150 17,156 Incremental weighted average effect of equity awards 7,234 5,344 5,432 2,610 Weighted average common shares outstanding – Diluted (2) 554,163 547,200 551,618 545,228 Net earnings per share attributable to common stockholders: Basic $ 1.65 $ 0.53 $ 2.54 $ 1.45 Diluted $ 1.63 $ 0.52 $ 2.51 $ 1.44 Three Months Ended Nine Months Ended September 30, September 30, Prologis, L.P. 2017 2016 2017 2016 Net earnings attributable to common unitholders $ 900,331 $ 286,943 $ 1,383,529 $ 784,917 Net earnings attributable to Class A common unitholders (14,233 ) (4,641 ) (21,911 ) (12,769 ) Net earnings attributable to common unitholders – Basic 886,098 282,302 1,361,618 772,148 Net earnings attributable to Class A common unitholders 14,233 4,641 21,911 12,769 Net earnings attributable to limited partnership unitholders 249 25 1,014 2,241 Adjusted net earnings attributable to common unitholders – Diluted $ 900,580 $ 286,968 $ 1,384,543 $ 787,158 Weighted average common partnership units outstanding – Basic 537,257 532,934 536,021 531,985 Incremental weighted average effect on conversion of Class A Units 8,588 8,753 8,625 8,798 Incremental weighted average effect on redemption of limited partnership units into common stock of Prologis, Inc. 1,084 169 1,540 1,835 Incremental weighted average effect of equity awards of Prologis, Inc. 7,234 5,344 5,432 2,610 Weighted average common partnership units outstanding – Diluted (2) 554,163 547,200 551,618 545,228 Net earnings per unit attributable to common unitholders: Basic $ 1.65 $ 0.53 $ 2.54 $ 1.45 Diluted $ 1.63 $ 0.52 $ 2.51 $ 1.44 (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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Total weighted average potentially dilutive limited partnership units 9,672 10,587 10,166 10,633 Total potentially dilutive stock awards 9,934 9,220 9,038 7,783 Total Prologis, L.P. 19,606 19,807 19,204 18,416 Limited partners in Prologis, L.P. 5,969 5,646 5,984 6,523 Total Prologis, Inc. 25,575 25,453 25,188 24,939

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	9 Months Ended
	Sep. 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): September 30, 2017 December 31, 2016 Asset Liability Asset Liability Net investment hedges British pound sterling denominated $ - $ - $ 7,439 $ - Canadian dollar denominated - 7,683 1,245 - Forwards and options (1) British pound sterling denominated 4,932 7,158 16,985 - Canadian dollar denominated - 1,709 831 197 Euro denominated - 12,144 10,933 - Japanese yen denominated 6,671 1,100 9,246 1,071 Interest rate hedges 8,707 - 435 - Total fair value of derivatives $ 20,310 $ 29,794 $ 47,114 $ 1,268 (1) As discussed below, these foreign currency options are not designated as hedges. We recognized unrealized losses of $12.3 million and $44.8 million for the three and nine months ended September 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 nine months ended September 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 24 56 107 4,000 Matured, expired or settled contracts (133 ) (131 ) (22 ) (72 ) (48 ) (5,400 ) Notional amounts at September 30 $ 133 £ - $ 52 € 158 £ 107 ¥ 14,100 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 19 63 137 38 Matured, expired or settled contracts (100 ) (173 ) (17 ) (81 ) (75 ) (49 ) Notional amounts at September 30 $ 99 $ - $ 40 $ 179 $ 140 $ 133 Weighted average forward rate at September 30 1.34 - 1.30 1.13 1.31 106.11 Active contracts at September 30 2 - 18 23 19 29 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 11,189 321 - 15,460 Matured, expired or settled contracts - (60 ) (11,189 ) (440 ) (36 ) (10,940 ) Notional amounts at September 30 $ 133 £ 238 ¥ - € 156 £ 61 ¥ 17,360 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 99 359 - 147 15 Matured, expired or settled contracts - (100 ) (99 ) (492 ) (55 ) (95 ) (21 ) Notional amounts at September 30 $ 100 $ 371 $ - $ 177 $ 93 $ 161 $ 44 (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 September 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 nine months ended September 30, 2017. During the nine months ended September 30, 2016, we did not enter into any interest rate swap contracts, and we settled ¥105.9 billion Other Comprehensive Income The change in Other Comprehensive Income 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 September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Derivative net investment hedges (1) $ (3,623 ) $ 11,546 $ (13,114 ) $ 40,966 Interest rate and cash flow hedges (2) 5,553 3,110 10,382 (10,714 ) Our share of derivatives from unconsolidated co-investment ventures 538 1,586 5,075 (6,408 ) Total derivative instruments 2,468 16,242 2,343 23,844 Nonderivative net investment hedges (3) (4) (139,885 ) (19,019 ) (414,077 ) (88,792 ) Total derivative and nonderivative hedging instruments $ (137,417 ) $ (2,777 ) $ (411,734 ) $ (64,948 ) (1) We received $2.5 million and $16.8 million for the nine months ended September 30, 2017, and 2016, respectively, upon the settlement of net investment hedges. We did not settle any new investment hedges during the three months ended September 30, 2017, and 2016. (2) The amounts reclassified to interest expense for the three and nine months ended September 30, 2017, were $1.3 million and $4.2 million, respectively. The amounts reclassified to interest expense for the three and nine months ended September 30, 2016, were $2.0 million and $4.1 million, respectively. For the next 12 months from September 30, 2017, we estimate an additional expense of $3.5 million will be reclassified to Interest Expense (3) At September 30, 2017, and December 31, 2016, we had €3.0 billion ($3.6 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 $3.8 million and $15.1 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 £322.8 million ($415.0 million) of the debt was designated as a nonderivative financial instrument hedge of our net investment in international subsidiaries at September 30, 2017. We recognized unrealized losses of $4.2 million in Foreign Currency and Derivative Losses, Net on the unhedged portion of our debt for the three and nine months ended September 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 September 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 September 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 September 30, 2017, or December 31, 2016. Fair Value of Financial Instruments At September 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 September 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): September 30, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ - $ - $ 35,023 $ 35,061 Senior notes 6,874,108 7,390,221 6,417,492 6,935,485 Term loans and unsecured other 1,634,682 1,653,113 1,499,001 1,510,661 Secured mortgages 812,371 874,491 979,585 1,055,020 Secured mortgages of consolidated entities 399,904 399,515 1,677,193 1,683,489 Total debt $ 9,721,065 $ 10,317,340 $ 10,608,294 $ 11,219,716

Business Segments

Business Segments	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Revenues: Real estate operations segment: U.S. $ 478,718 $ 512,759 $ 1,532,706 $ 1,525,623 Other Americas 23,157 15,598 54,690 44,616 Europe 16,369 18,967 56,676 54,975 Asia 16,588 14,660 48,399 40,687 Total real estate operations segment 534,832 561,984 1,692,471 1,665,901 Strategic capital segment: U.S. 17,340 9,940 159,925 28,876 Other Americas 6,061 5,805 21,976 16,884 Europe 26,289 113,577 78,524 161,686 Asia 18,352 13,259 45,316 39,673 Total strategic capital segment 68,042 142,581 305,741 247,119 Total revenues 602,874 704,565 1,998,212 1,913,020 Segment net operating income: Real estate operations segment: U.S. 363,802 385,837 1,144,176 1,131,340 Other Americas 16,037 10,417 36,403 29,127 Europe 11,454 13,787 40,713 40,420 Asia 11,711 7,650 33,386 24,830 Total real estate operations segment 403,004 417,691 1,254,678 1,225,717 Strategic capital segment: U.S. 1,645 (577 ) 103,252 1,959 Other Americas 3,934 2,975 14,666 9,163 Europe 16,497 91,390 49,229 125,460 Asia 9,970 4,169 18,813 12,754 Total strategic capital segment 32,046 97,957 185,960 149,336 Total segment net operating income 435,050 515,648 1,440,638 1,375,053 Reconciling items: General and administrative expenses 57,656 58,157 171,350 165,634 Depreciation and amortization expenses 201,903 224,867 656,639 705,249 Operating income 175,491 232,624 612,649 504,170 Earnings from unconsolidated entities, net 55,066 45,857 172,267 145,622 Interest expense (64,190 ) (75,310 ) (212,456 ) (232,577 ) Interest and other income, net 4,816 2,932 9,493 7,051 Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net 779,053 117,296 959,384 461,963 Foreign currency and derivative losses, net (18,872 ) (1,730 ) (46,327 ) (26,277 ) Gains (losses) on early extinguishment of debt, net - 1,492 (30,596 ) 2,484 Earnings before income taxes $ 931,364 $ 323,161 $ 1,464,414 $ 862,436 September 30, December 31, 2017 2016 Assets: Real estate operations segment: U.S. $ 19,199,770 $ 21,286,422 Other Americas 1,857,678 978,476 Europe 1,058,894 1,346,589 Asia 1,008,217 936,462 Total real estate operations segment 23,124,559 24,547,949 Strategic capital segment: U.S. 17,136 18,090 Europe 44,990 47,635 Asia 748 1,301 Total strategic capital segment 62,874 67,026 Total segment assets 23,187,433 24,614,975 Reconciling items: Investments in and advances to unconsolidated entities 5,371,758 4,230,429 Assets held for sale or contribution 321,905 322,139 Notes receivable backed by real estate - 32,100 Cash and cash equivalents 568,726 807,316 Other assets 204,328 242,973 Total reconciling items 6,466,717 5,634,957 Total assets $ 29,654,150 $ 30,249,932

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 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 nine months ended September 30, 2017, and 2016 included the following: • We contributed operating properties owned by NAIF to USLF in the third quarter of 2017. See Notes 2, 3 and 5 for more information on this transaction. As a result, we received $1.1 billion of ownership interest in USLF as a portion of our proceeds from this contribution. In addition, USLF assumed the $19.5 million note receivable backed by real estate we received in the second quarter of 2017 and $956.0 million of secured mortgage debt. • We capitalized $20.8 million and $19.7 million in 2017 and 2016, respectively, of equity-based compensation expense resulting from our development and leasing activities. • We issued 0.7 million shares in 2017 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, and we issued 1.9 million shares in 2016. • We received $83.6 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 $31.8 million of ownership interests in an unconsolidated co-investment venture from the contribution of properties to these entities during 2016. We paid $232.4 million and $267.2 million for interest, net of amounts capitalized, for the nine months ended September 30, 2017, and 2016, respectively. We paid $29.7 million and $16.4 million for income taxes, net of refunds, for the nine months ended September 30, 2017, and 2016, respectively.

General (Policies)

General (Policies)	9 Months Ended
	Sep. 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.
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 real estate property acquisitions to qualify as asset acquisitions under the standard that permits the capitalization of acquisition costs to the basis of the acquired real estate property. 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 evaluated 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 contributions of properties to unconsolidated co-investment ventures. While we do not expect changes in the recognition of recurring fees earned, we may begin recognizing promote fees earlier in the incentive period to the extent it is probable that a revenue reversal will not occur in a future period. For dispositions of real estate to third parties, we do not expect the standard to impact the recognition of the sale. 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 of real estate properties. Upon adoption of the standard, we will recognize, on a prospective basis, the entire gain attributed to contributions or sales of real estate properties 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 underlying real estate properties. 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. • As a lessor. 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, these costs are capitalizable and therefore this new standard will result in certain of these costs being expensed as incurred after adoption. This standard may also impact the timing, recognition, presentation and disclosures related to our rental recoveries from tenants earned from leasing our operating properties, although we do not expect a significant impact. • As a lessee. 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 of 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. We are in the process of calculating and estimating the initial right-of-use assets and lease liabilities that will be recorded upon adoption. 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 accompanying notes to 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. Derivatives and Hedging . In August 2017, the FASB issued an accounting standard update that simplifies the application of hedge accounting guidance in current GAAP and improves the reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements. Among the simplification updates, the standard eliminates the requirement in current GAAP to separately recognize periodic hedge ineffectiveness. Mismatches between the changes in value of the hedged item and hedging instrument may still occur but they will no longer be separately reported. The standard requires the presentation of the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is reported. The standard is effective for annual and interim reporting periods beginning after December 15, 2018, but early adoption is permitted. We are currently evaluating the impact the adoption of this standard will have on the Consolidated Financial Statements.

Real Estate (Tables)

Real Estate (Tables)	9 Months Ended
	Sep. 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 September 30, December 31, September 30, December 31, September 30, December 31, 2017 2016 2017 2016 2017 2016 Operating properties Buildings and improvements 298,240 331,210 1,566 1,776 $ 16,829,500 $ 17,905,914 Improved land 5,826,773 6,037,543 Development portfolio, including land costs: Prestabilized 7,394 8,256 24 29 441,235 798,233 Properties under development 22,189 19,539 55 60 1,059,764 633,849 Land (1) 1,313,268 1,218,904 Other real estate investments (2) 506,617 524,887 Total investments in real estate properties 25,977,157 27,119,330 Less accumulated depreciation 3,977,667 3,758,372 Net investments in real estate properties $ 21,999,490 $ 23,360,958 (1) Included in our investments in real estate at September 30, 2017, and December 31, 2016, were 5,871 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 Acquired	The following table summarizes our real estate acquisition activity for the three and nine months ended September 30 (dollars and square feet in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Acquisitions of operating properties from third parties and a controlling interest in an unconsolidated venture Number of operating properties 12 1 14 7 Square feet 6,328 42 6,478 931 Acquisition value of net investments in real estate properties (1) $ 703,686 $ 16,795 $ 744,581 $ 86,840 (1) In August 2017, we acquired our partner’s interest in certain joint ventures in Brazil for an aggregate price of R$1.2 billion ($381.7 million). As a result of this transaction, we began consolidating total real estate that included the operating properties above, two prestabilized properties and 531.4 acres of undeveloped land. We accounted for the acquisition as a business combination and the results of operations for these real estate properties were not significant in 2017. The current allocation of the purchase price is preliminary and the valuation of the real estate properties and other assets acquired is still being finalized.
Summary of Properties Disposed	The following table summarizes our real estate disposition activity for the three and nine months ended September 30 (dollars and square feet in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Contributions to unconsolidated co-investment ventures (1) Number of properties 201 11 211 21 Square feet 41,776 2,657 45,420 6,676 Net proceeds (2) $ 2,356,322 $ 185,811 $ 2,869,428 $ 649,511 Gains on contributions, net (2) $ 647,647 $ 29,197 $ 773,715 $ 132,787 Dispositions to third parties Number of properties 7 48 45 147 Square feet 2,179 5,041 8,217 15,606 Net proceeds (2) (3) $ 155,227 $ 410,602 $ 614,906 $ 1,300,209 Gains on dispositions, net (2) (3) $ 50,259 $ 88,099 $ 104,522 $ 242,561 Total gains on contributions and dispositions, net $ 697,906 $ 117,296 $ 878,237 $ 375,348 Gains on revaluation of equity investments upon acquisition of a controlling interest and redemption of investment in co-investment ventures 81,147 - 81,147 86,615 Total gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net $ 779,053 $ 117,296 $ 959,384 $ 461,963 (1) In July 2017, we contributed 190 operating properties totaling 37.1 million square feet owned by Prologis North American Industrial Fund (“NAIF”), which was wholly-owned beginning March 2017, to Prologis Targeted U.S. Logistics Fund (“USLF”), our unconsolidated co-investment venture, for an aggregate price of $2.8 billion. We received cash proceeds and additional units, which increased our ownership interest in USLF to 27.1% and USLF assumed $956.0 million of secured debt. (2) Also includes the contribution and disposition of land parcels. (3) Also includes the sale of our investment in Europe Logistics Venture 1 (“ELV”) in January 2017. See Note 3 for more information on this transaction.

Unconsolidated Entities (Tables

Unconsolidated Entities (Tables)	9 Months Ended
	Sep. 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): September 30, December 31, 2017 2016 Unconsolidated co-investment ventures $ 5,118,553 $ 4,057,524 Other ventures 253,205 172,905 Totals $ 5,371,758 $ 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 September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Strategic capital revenues from unconsolidated co-investment ventures, net: U.S. $ 16,841 $ 9,565 $ 158,064 $ 27,739 Other Americas 6,216 5,806 22,131 16,885 Europe 26,323 113,489 78,450 161,257 Asia 18,271 13,174 44,990 39,429 Total $ 67,651 $ 142,034 $ 303,635 $ 245,310 Earnings from unconsolidated co-investment ventures, net: U.S. $ 18,307 $ 1,763 $ 25,216 $ 9,140 Other Americas 6,570 8,077 22,073 20,885 Europe 23,848 29,802 89,622 90,395 Asia 5,050 4,905 23,489 12,253 Total $ 53,775 $ 44,547 $ 160,400 $ 132,673
Summary of Promotes Earned and Recognized in Strategic Capital Revenues	The following table summarizes the promotes earned and recognized in Strategic Capital Revenues Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Total promote (1) $ - $ 99,766 $ 150,898 $ 99,766 Less: Prologis' share - 11,222 23,806 11,222 Net promote recognized (third-party share) in strategic capital revenues $ - $ 88,544 $ 127,092 $ 88,544 (1) We earned promotes from ELV, FIBRA Prologis and USLF in 2017 and Prologis European Properties Fund II and in 2016 .
Summary of Remaining Equity Commitments	The following table summarizes the remaining equity commitments at September 30, 2017 (in millions): Equity Commitments Expiration Date for Remaining Commitments Prologis Venture Partners Total Prologis Targeted U.S. Logistics Fund $ - $ 195 $ 195 2019 Prologis Targeted Europe Logistics Fund (1) - 623 623 2018 – 2019 Prologis United Kingdom Logistics Venture (2) 37 207 244 2021 Prologis China Logistics Venture 294 1,665 1,959 2020 – 2024 Totals $ 331 $ 2,690 $ 3,021 (1) Equity commitments are denominated in euro and reported in U.S. dollars based on an exchange rate of $1.18 U.S. dollars to the euro. (2) Equity commitments are denominated in British pounds sterling and reported in U.S. dollars based on an exchange rate of $1.34 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: September 30, December 31, September 30, (dollars and square feet in millions) 2017 2016 2016 U.S. (1): Number of ventures 1 1 1 Number of operating properties owned 552 369 366 Square feet 88 50 49 Total assets $ 7,311 $ 4,238 $ 4,167 Third-party debt $ 2,270 $ 1,414 $ 1,421 Total liabilities $ 2,473 $ 1,540 $ 1,509 Our investment balance (2) (3) $ 1,393 $ 435 $ 514 Our weighted average ownership (3) (4) 27.1 % 14.9 % 17.8 % Other Americas (5): Number of ventures 1 2 2 Number of operating properties owned 203 213 209 Square feet 37 42 41 Total assets $ 2,107 $ 2,793 $ 2,679 Third-party debt $ 727 $ 739 $ 671 Total liabilities $ 761 $ 814 $ 754 Our investment balance (2) $ 564 $ 845 $ 851 Our weighted average ownership (4) 42.9 % 43.9 % 43.7 % Europe (6) (7): Number of ventures 4 4 4 Number of operating properties owned 709 700 694 Square feet 167 163 160 Total assets $ 12,767 $ 10,853 $ 11,291 Third-party debt $ 2,742 $ 2,446 $ 2,628 Total liabilities $ 3,748 $ 3,283 $ 3,620 Our investment balance (2) (3) $ 2,649 $ 2,327 $ 2,565 Our weighted average ownership (3) (4) 33.2 % 35.1 % 36.3 % Asia: Number of ventures 2 2 2 Number of operating properties owned 93 85 79 Square feet 40 36 34 Total assets $ 5,907 $ 5,173 $ 5,439 Third-party debt $ 2,186 $ 1,947 $ 2,004 Total liabilities $ 2,504 $ 2,239 $ 2,313 Our investment balance (2) $ 513 $ 451 $ 493 Our weighted average ownership (4) 15.1 % 15.1 % 15.0 % Total: Number of ventures 8 9 9 Number of operating properties owned 1,557 1,367 1,348 Square feet 332 291 284 Total assets $ 28,092 $ 23,057 $ 23,576 Third-party debt $ 7,925 $ 6,546 $ 6,724 Total liabilities $ 9,486 $ 7,876 $ 8,196 Our investment balance (2) $ 5,119 $ 4,058 $ 4,423 Our weighted average ownership (4) 28.7 % 27.9 % 28.9 % Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2017 2016 2017 2016 Revenues: U.S. $ 160 $ 100 $ 369 $ 296 Other Americas 60 63 190 179 Europe 266 232 758 724 Asia 95 91 272 253 Total revenues $ 581 $ 486 $ 1,589 $ 1,452 Net earnings: U.S. $ 64 $ 11 $ 115 $ 47 Other Americas 19 20 58 53 Europe 63 77 229 218 Asia 30 30 147 74 Total net earnings $ 176 $ 138 $ 549 $ 392 (1) In July 2017, we contributed operating properties to USLF. We received cash proceeds and additional units, which increased our ownership interest in USLF to 27.1%. See Note 2 for more information on this transaction. (2) The difference between our ownership interest of a venture’s equity and our investment balance at September 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 real estate property to a venture ($667.7 million and $469.9 million, respectively); (ii) recording additional costs associated with our investment in a venture ($106.3 million and $124.1 million, respectively); and (iii) advances to a venture ($195.2 million and $166.1 million, respectively). (3) In April 2016, we redeemed a portion of our investment in PTELF and 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 ( 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. ( 5 ) In August 2017, we acquired our partner’s interest in certain joint ventures in Brazil. See Note 2 for more information on this acquisition. Included in the Other Americas’ balances are nine properties aggregating 2.8 million square feet associated with the remaining Brazil joint ventures. (6 ) 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. (7 ) In February 2017, we formed the Prologis UK 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. Upon formation, we, along with our venture partner, committed £380.0 million ($508.9 million at September 30, 2017), of which our share is £57.0 million ($76.0 million at September 30, 2017). During the nine months ended September 30, 2017, we contributed 1.4 million square feet of stabilized properties, 0.6 million square feet of properties under development and 144.8 acres of land for an aggregate price of £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)	9 Months Ended
	Sep. 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): September 30, December 31, 2017 2016 Number of operating properties 26 13 Square feet 4,952 4,167 Total assets held for sale or contribution $ 321,905 $ 322,139 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 7,389 $ 4,984

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Debt Summary	The following table summarizes our debt (dollars in thousands): September 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 % 6,874,108 3.3 % 6,417,492 Term loans 1.5 % 1,620,688 1.4 % 1,484,523 Unsecured other 6.1 % 13,994 6.1 % 14,478 Secured mortgages 5.7 % 812,371 4.9 % 979,585 Secured mortgages of consolidated entities (3) 2.8 % 399,904 3.0 % 1,677,193 Totals 3.0 % $ 9,721,065 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 ($3.7 billion), Japanese yen ($1.3 billion), British pounds sterling ($0.7 billion) and Canadian dollars ($0.5 billion). (3) I
Credit Facilities	The following table summarizes information about our Credit Facilities at September 30, 2017 (in millions): Aggregate lender commitments $ 3,476 Less: Borrowings outstanding - Outstanding letters of credit 38 Current availability $ 3,438
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 September 30, 2017 (in thousands): Unsecured Senior Term Loans Secured Maturity Notes and Other Mortgage Debt Total 2017 (1) $ - $ 453 $ 3,180 $ 3,633 2018 (1) 175,000 934 404,668 580,602 2019 - 1,013 446,324 447,337 2020 (2) 910,437 161,077 12,401 1,083,915 2021 1,326,420 910 14,804 1,342,134 2022 826,420 445,170 10,815 1,282,405 2023 850,000 921,982 33,866 1,805,848 2024 826,420 874 133,551 960,845 2025 750,000 950 145,671 896,621 2026 590,300 591 1,232 592,123 Thereafter 669,441 112,320 1,169 782,930 Subtotal 6,924,438 1,646,274 1,207,681 9,778,393 Premiums (discounts), net (22,100 ) - 8,554 (13,546 ) Debt issuance costs, net (28,230 ) (11,592 ) (3,960 ) (43,782 ) Totals $ 6,874,108 $ 1,634,682 $ 1,212,275 $ 9,721,065 (1) We expect to repay the amounts maturing in 2017 and 2018 with cash generated from operations, proceeds from the dispositions of 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, as discussed above.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	9 Months Ended
	Sep. 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 September 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 % $ 2,512,472 $ 2,424,800 $ 6,105,053 $ 6,201,278 $ 515,962 $ 797,593 Prologis North American Industrial Fund (1) N/A 66.1 % - 486,648 - 2,479,072 - 1,038,708 Prologis Brazil Logistics Partners Fund I (2) N/A 50.0 % - 61,836 - 131,581 - 720 Other consolidated entities (3) various various 79,072 99,185 845,660 866,821 30,396 34,073 Prologis, L.P. noncontrolling interests 2,591,544 3,072,469 6,950,713 9,678,752 546,358 1,871,094 Limited partners in Prologis, L.P. (4) (5) 423,961 394,590 - - - - Prologis, Inc. noncontrolling interests $ 3,015,505 $ 3,467,059 $ 6,950,713 $ 9,678,752 $ 546,358 $ 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 September 30, 2017, and December 31, 2016, limited partnership units were redeemable for cash or, at our option, 1.0 million and 1.8 million shares of the Parent’s common stock. During the first nine months of 2017, limited partnership units were redeemed for 0.8 million 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 September 30, 2017 and December 31, 2016, respectively. (5) At September 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 $262.2 million and $241.8 million, respectively, based on the closing stock price of the Parent’s common stock. In 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 September 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)	9 Months Ended
	Sep. 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 nine months ended September 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 September 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 nine months ended September 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 (234 ) Balance at September 30, 2017 3,715 $ 45.54 1,868
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 nine months ended September 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 (802 ) Forfeited (63 ) Balance at September 30, 2017 1,509 $ 45.35 106
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 nine months ended September 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)	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, Prologis, Inc. 2017 2016 2017 2016 Net earnings attributable to common stockholders – Basic $ 876,218 $ 279,255 $ 1,346,416 $ 762,679 Net earnings attributable to redeemable limited partnership unitholders (1) 24,362 7,713 38,127 24,479 Adjusted net earnings attributable to common stockholders – Diluted $ 900,580 $ 286,968 $ 1,384,543 $ 787,158 Weighted average common shares outstanding – Basic 531,288 527,288 530,036 525,462 Incremental weighted average effect on redemption of limited partnership units (1) 15,641 14,568 16,150 17,156 Incremental weighted average effect of equity awards 7,234 5,344 5,432 2,610 Weighted average common shares outstanding – Diluted (2) 554,163 547,200 551,618 545,228 Net earnings per share attributable to common stockholders: Basic $ 1.65 $ 0.53 $ 2.54 $ 1.45 Diluted $ 1.63 $ 0.52 $ 2.51 $ 1.44 Three Months Ended Nine Months Ended September 30, September 30, Prologis, L.P. 2017 2016 2017 2016 Net earnings attributable to common unitholders $ 900,331 $ 286,943 $ 1,383,529 $ 784,917 Net earnings attributable to Class A common unitholders (14,233 ) (4,641 ) (21,911 ) (12,769 ) Net earnings attributable to common unitholders – Basic 886,098 282,302 1,361,618 772,148 Net earnings attributable to Class A common unitholders 14,233 4,641 21,911 12,769 Net earnings attributable to limited partnership unitholders 249 25 1,014 2,241 Adjusted net earnings attributable to common unitholders – Diluted $ 900,580 $ 286,968 $ 1,384,543 $ 787,158 Weighted average common partnership units outstanding – Basic 537,257 532,934 536,021 531,985 Incremental weighted average effect on conversion of Class A Units 8,588 8,753 8,625 8,798 Incremental weighted average effect on redemption of limited partnership units into common stock of Prologis, Inc. 1,084 169 1,540 1,835 Incremental weighted average effect of equity awards of Prologis, Inc. 7,234 5,344 5,432 2,610 Weighted average common partnership units outstanding – Diluted (2) 554,163 547,200 551,618 545,228 Net earnings per unit attributable to common unitholders: Basic $ 1.65 $ 0.53 $ 2.54 $ 1.45 Diluted $ 1.63 $ 0.52 $ 2.51 $ 1.44 (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 Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Total weighted average potentially dilutive limited partnership units 9,672 10,587 10,166 10,633 Total potentially dilutive stock awards 9,934 9,220 9,038 7,783 Total Prologis, L.P. 19,606 19,807 19,204 18,416 Limited partners in Prologis, L.P. 5,969 5,646 5,984 6,523 Total Prologis, Inc. 25,575 25,453 25,188 24,939

Financial Instruments and Fai28

Financial Instruments and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 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): September 30, 2017 December 31, 2016 Asset Liability Asset Liability Net investment hedges British pound sterling denominated $ - $ - $ 7,439 $ - Canadian dollar denominated - 7,683 1,245 - Forwards and options (1) British pound sterling denominated 4,932 7,158 16,985 - Canadian dollar denominated - 1,709 831 197 Euro denominated - 12,144 10,933 - Japanese yen denominated 6,671 1,100 9,246 1,071 Interest rate hedges 8,707 - 435 - Total fair value of derivatives $ 20,310 $ 29,794 $ 47,114 $ 1,268 (1) As discussed below, these foreign currency options are not designated as hedges. We recognized unrealized losses of $12.3 million and $44.8 million for the three and nine months ended September 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 nine months ended September 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 24 56 107 4,000 Matured, expired or settled contracts (133 ) (131 ) (22 ) (72 ) (48 ) (5,400 ) Notional amounts at September 30 $ 133 £ - $ 52 € 158 £ 107 ¥ 14,100 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 19 63 137 38 Matured, expired or settled contracts (100 ) (173 ) (17 ) (81 ) (75 ) (49 ) Notional amounts at September 30 $ 99 $ - $ 40 $ 179 $ 140 $ 133 Weighted average forward rate at September 30 1.34 - 1.30 1.13 1.31 106.11 Active contracts at September 30 2 - 18 23 19 29 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 11,189 321 - 15,460 Matured, expired or settled contracts - (60 ) (11,189 ) (440 ) (36 ) (10,940 ) Notional amounts at September 30 $ 133 £ 238 ¥ - € 156 £ 61 ¥ 17,360 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 99 359 - 147 15 Matured, expired or settled contracts - (100 ) (99 ) (492 ) (55 ) (95 ) (21 ) Notional amounts at September 30 $ 100 $ 371 $ - $ 177 $ 93 $ 161 $ 44 (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 September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Derivative net investment hedges (1) $ (3,623 ) $ 11,546 $ (13,114 ) $ 40,966 Interest rate and cash flow hedges (2) 5,553 3,110 10,382 (10,714 ) Our share of derivatives from unconsolidated co-investment ventures 538 1,586 5,075 (6,408 ) Total derivative instruments 2,468 16,242 2,343 23,844 Nonderivative net investment hedges (3) (4) (139,885 ) (19,019 ) (414,077 ) (88,792 ) Total derivative and nonderivative hedging instruments $ (137,417 ) $ (2,777 ) $ (411,734 ) $ (64,948 ) (1) We received $2.5 million and $16.8 million for the nine months ended September 30, 2017, and 2016, respectively, upon the settlement of net investment hedges. We did not settle any new investment hedges during the three months ended September 30, 2017, and 2016. (2) The amounts reclassified to interest expense for the three and nine months ended September 30, 2017, were $1.3 million and $4.2 million, respectively. The amounts reclassified to interest expense for the three and nine months ended September 30, 2016, were $2.0 million and $4.1 million, respectively. For the next 12 months from September 30, 2017, we estimate an additional expense of $3.5 million will be reclassified to Interest Expense (3) At September 30, 2017, and December 31, 2016, we had €3.0 billion ($3.6 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 $3.8 million and $15.1 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 £322.8 million ($415.0 million) of the debt was designated as a nonderivative financial instrument hedge of our net investment in international subsidiaries at September 30, 2017. We recognized unrealized losses of $4.2 million in Foreign Currency and Derivative Losses, Net on the unhedged portion of our debt for the three and nine months ended September 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): September 30, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ - $ - $ 35,023 $ 35,061 Senior notes 6,874,108 7,390,221 6,417,492 6,935,485 Term loans and unsecured other 1,634,682 1,653,113 1,499,001 1,510,661 Secured mortgages 812,371 874,491 979,585 1,055,020 Secured mortgages of consolidated entities 399,904 399,515 1,677,193 1,683,489 Total debt $ 9,721,065 $ 10,317,340 $ 10,608,294 $ 11,219,716

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Reporting, Reconciliation of Revenues, Operating Income and Assets	The following reconciliations are presented in thousands: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 Revenues: Real estate operations segment: U.S. $ 478,718 $ 512,759 $ 1,532,706 $ 1,525,623 Other Americas 23,157 15,598 54,690 44,616 Europe 16,369 18,967 56,676 54,975 Asia 16,588 14,660 48,399 40,687 Total real estate operations segment 534,832 561,984 1,692,471 1,665,901 Strategic capital segment: U.S. 17,340 9,940 159,925 28,876 Other Americas 6,061 5,805 21,976 16,884 Europe 26,289 113,577 78,524 161,686 Asia 18,352 13,259 45,316 39,673 Total strategic capital segment 68,042 142,581 305,741 247,119 Total revenues 602,874 704,565 1,998,212 1,913,020 Segment net operating income: Real estate operations segment: U.S. 363,802 385,837 1,144,176 1,131,340 Other Americas 16,037 10,417 36,403 29,127 Europe 11,454 13,787 40,713 40,420 Asia 11,711 7,650 33,386 24,830 Total real estate operations segment 403,004 417,691 1,254,678 1,225,717 Strategic capital segment: U.S. 1,645 (577 ) 103,252 1,959 Other Americas 3,934 2,975 14,666 9,163 Europe 16,497 91,390 49,229 125,460 Asia 9,970 4,169 18,813 12,754 Total strategic capital segment 32,046 97,957 185,960 149,336 Total segment net operating income 435,050 515,648 1,440,638 1,375,053 Reconciling items: General and administrative expenses 57,656 58,157 171,350 165,634 Depreciation and amortization expenses 201,903 224,867 656,639 705,249 Operating income 175,491 232,624 612,649 504,170 Earnings from unconsolidated entities, net 55,066 45,857 172,267 145,622 Interest expense (64,190 ) (75,310 ) (212,456 ) (232,577 ) Interest and other income, net 4,816 2,932 9,493 7,051 Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net 779,053 117,296 959,384 461,963 Foreign currency and derivative losses, net (18,872 ) (1,730 ) (46,327 ) (26,277 ) Gains (losses) on early extinguishment of debt, net - 1,492 (30,596 ) 2,484 Earnings before income taxes $ 931,364 $ 323,161 $ 1,464,414 $ 862,436 September 30, December 31, 2017 2016 Assets: Real estate operations segment: U.S. $ 19,199,770 $ 21,286,422 Other Americas 1,857,678 978,476 Europe 1,058,894 1,346,589 Asia 1,008,217 936,462 Total real estate operations segment 23,124,559 24,547,949 Strategic capital segment: U.S. 17,136 18,090 Europe 44,990 47,635 Asia 748 1,301 Total strategic capital segment 62,874 67,026 Total segment assets 23,187,433 24,614,975 Reconciling items: Investments in and advances to unconsolidated entities 5,371,758 4,230,429 Assets held for sale or contribution 321,905 322,139 Notes receivable backed by real estate - 32,100 Cash and cash equivalents 568,726 807,316 Other assets 204,328 242,973 Total reconciling items 6,466,717 5,634,957 Total assets $ 29,654,150 $ 30,249,932

General - Additional Informatio

General - Additional Information (Detail) shares in Millions	9 Months Ended
	Sep. 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	Sep. 30, 2017USD ($)ft²aBuildings	Dec. 31, 2016USD ($)ft²aBuildings
Real Estate Properties [Line Items]
Total investments in real estate properties	$ 25,977,157	$ 27,119,330
Less accumulated depreciation	3,977,667	3,758,372
Net investments in real estate properties	$ 21,999,490	$ 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	$ 5,826,773	$ 6,037,543
Building and Improvements [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	298,240	331,210
Number of buildings | Buildings	1,566	1,776
Total investments in real estate properties	$ 16,829,500	$ 17,905,914
Development Portfolio, Including Cost of Land: Pre-stabilized [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	7,394	8,256
Number of buildings | Buildings	24	29
Total investments in real estate properties	$ 441,235	$ 798,233
Properties Under Development [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	22,189	19,539
Number of buildings | Buildings	55	60
Total investments in real estate properties	$ 1,059,764	$ 633,849
Land [Member]
Real Estate Properties [Line Items]
Square Feet | a	5,871	5,892
Total investments in real estate properties	$ 1,313,268	$ 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	$ 506,617	$ 524,887

Real Estate - Investments in 32

Real Estate - Investments in Real Estate Properties (Parenthetical) (Detail) - a	Sep. 30, 2017	Dec. 31, 2016
Land [Member]
Real Estate Properties [Line Items]
Square feet	5,871	5,892

Real Estate - Summary of Acquis

Real Estate - Summary of Acquisition (Detail) - Third parties and a controlling interest [Member] ft² in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)ft²Property	Sep. 30, 2016USD ($)ft²Property	Sep. 30, 2017USD ($)ft²Property	Sep. 30, 2016USD ($)ft²Property
Business Acquisition [Line Items]
Number of operating properties | Property	12	1	14	7
Square feet | ft²	6,328	42	6,478	931
Acquisition value of net investments in real estate properties | $	$ 703,686	$ 16,795	$ 744,581	$ 86,840

Real Estate - Summary of Acqu34

Real Estate - Summary of Acquisition (Parenthetical) (Detail) $ in Millions, BRL in Billions	1 Months Ended
	Aug. 31, 2017USD ($)aProperty	Aug. 31, 2017BRLaProperty	Sep. 30, 2017a	Dec. 31, 2016a
Land [Member]
Business Acquisition [Line Items]
Square feet			5,871	5,892
BRAZIL
Business Acquisition [Line Items]
Payment to acquire interest in joint venture	$ 381.7	BRL 1.2
BRAZIL | Prestabilized Properties [Member]
Business Acquisition [Line Items]
Number of buildings | Property	2	2
BRAZIL | Land [Member]
Business Acquisition [Line Items]
Square feet	531.4	531.4

Real Estate - Summary of Dispos

Real Estate - Summary of Dispositions (Detail) ft² in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)ft²Property	Sep. 30, 2016USD ($)ft²Property	Sep. 30, 2017USD ($)ft²Property	Sep. 30, 2016USD ($)ft²Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net	$ 779,053	$ 117,296	$ 959,384	$ 461,963
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	697,906	117,296	878,237	375,348
Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net	$ 779,053	$ 117,296	$ 959,384	$ 461,963
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	201	11	211	21
Square feet | ft²	41,776	2,657	45,420	6,676
Net proceeds	$ 2,356,322	$ 185,811	$ 2,869,428	$ 649,511
Gains on contributions, net (2)	$ 647,647	$ 29,197	$ 773,715	$ 132,787
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	7	48	45	147
Square feet | ft²	2,179	5,041	8,217	15,606
Net proceeds	$ 155,227	$ 410,602	$ 614,906	$ 1,300,209
Gains on contributions, net (2)	50,259	88,099	104,522	242,561
Continuing Operations [Member] | Revaluation of equity investments upon acquisition of controlling interest and redemption of investment in co-investment ventures [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gains on contributions, net (2)	$ 81,147	$ 0	$ 81,147	$ 86,615

Real Estate - Summary of Disp36

Real Estate - Summary of Dispositions (Parenthetical) (Detail) - Prologis Targeted U S Logistics Fund [Member] ft² in Millions, $ in Millions	Jul. 31, 2017USD ($)ft²Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of buildings | Property	190
Square Feet | ft²	37.1
Aggregate purchase price	$ 2,800
Ownership Percentage	27.10%
Secured Debt	$ 956

Unconsolidated Entities - Summa

Unconsolidated Entities - Summary of Investments in and Advances to our Unconsolidated Entities (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	$ 5,371,758	$ 4,230,429
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	5,118,553	4,057,524
Other Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	$ 253,205	$ 172,905

Unconsolidated Entities - Sum38

Unconsolidated Entities - Summary of Amounts Recognized in Consolidated Statements of Income Related to Co-Investment Ventures (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues	$ 68,042	$ 142,581	$ 305,741	$ 247,119
Total earnings from unconsolidated co-investment ventures, net	55,066	45,857	172,267	145,622
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues	67,651	142,034	303,635	245,310
Total earnings from unconsolidated co-investment ventures, net	53,775	44,547	160,400	132,673
Unconsolidated Co-Investment Ventures [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues	16,841	9,565	158,064	27,739
Total earnings from unconsolidated co-investment ventures, net	18,307	1,763	25,216	9,140
Unconsolidated Co-Investment Ventures [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues	6,216	5,806	22,131	16,885
Total earnings from unconsolidated co-investment ventures, net	6,570	8,077	22,073	20,885
Unconsolidated Co-Investment Ventures [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues	26,323	113,489	78,450	161,257
Total earnings from unconsolidated co-investment ventures, net	23,848	29,802	89,622	90,395
Unconsolidated Co-Investment Ventures [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues	18,271	13,174	44,990	39,429
Total earnings from unconsolidated co-investment ventures, net	$ 5,050	$ 4,905	$ 23,489	$ 12,253

Unconsolidated Entities - Sum39

Unconsolidated Entities - Summary of Promotes Earned and Recognized in Strategic Capital Revenues (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Schedule Of Equity Method Investments [Line Items]
Total promote recognized in strategic capital revenues	[1]	$ 0	$ 99,766	$ 150,898	$ 99,766
Net promote recognized (third-party share) in strategic capital revenues		0	88,544	127,092	88,544
Prologis Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Total promote recognized in strategic capital revenues		$ 0	$ 11,222	$ 23,806	$ 11,222
[1]	We earned promotes from ELV, FIBRA Prologis and USLF in 2017 and Prologis European Properties Fund II and Prologis Targeted Europe Logistics Fund (“PTELF”) in 2016. Promotes are based on the venture’s cumulative returns to investors over a certain time-period, generally three years.

Unconsolidated Entities - Sum40

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		9 Months Ended
		Sep. 30, 2017USD ($)ft²PropertyVenture	Sep. 30, 2016USD ($)ft²PropertyVenture	Sep. 30, 2017USD ($)ft²PropertyVenture	Sep. 30, 2016USD ($)ft²PropertyVenture	Dec. 31, 2016USD ($)ft²PropertyVenture
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		8	9	8	9	9
Number of operating properties owned | Property		1,557	1,348	1,557	1,348	1,367
Square feet | ft²		332	284	332	284	291
Total assets		$ 28,092	$ 23,576	$ 28,092	$ 23,576	$ 23,057
Third-party debt		7,925	6,724	7,925	6,724	6,546
Total liabilities		9,486	8,196	9,486	8,196	7,876
Our investment balance	[1]	5,119	4,423	5,119	4,423	$ 4,058
Revenues		581	486	1,589	1,452
Net earnings		$ 176	$ 138	$ 549	$ 392
U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture	[2]	1	1	1	1	1
Number of operating properties owned | Property	[2]	552	366	552	366	369
Square feet | ft²	[2]	88	49	88	49	50
Total assets	[2]	$ 7,311	$ 4,167	$ 7,311	$ 4,167	$ 4,238
Third-party debt	[2]	2,270	1,421	2,270	1,421	1,414
Total liabilities	[2]	2,473	1,509	2,473	1,509	1,540
Our investment balance	[1],[3]	1,393	514	1,393	514	$ 435
Revenues		160	100	369	296
Net earnings		$ 64	$ 11	$ 115	$ 47
Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture	[4]	1	2	1	2	2
Number of operating properties owned | Property	[4]	203	209	203	209	213
Square feet | ft²	[4]	37	41	37	41	42
Total assets	[4]	$ 2,107	$ 2,679	$ 2,107	$ 2,679	$ 2,793
Third-party debt	[4]	727	671	727	671	739
Total liabilities	[4]	761	754	761	754	814
Our investment balance	[1],[4]	564	851	564	851	$ 845
Revenues		60	63	190	179
Net earnings		$ 19	$ 20	$ 58	$ 53
Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture	[5],[6]	4	4	4	4	4
Number of operating properties owned | Property	[5],[6]	709	694	709	694	700
Square feet | ft²	[5],[6]	167	160	167	160	163
Total assets	[5],[6]	$ 12,767	$ 11,291	$ 12,767	$ 11,291	$ 10,853
Third-party debt	[5],[6]	2,742	2,628	2,742	2,628	2,446
Total liabilities	[5],[6]	3,748	3,620	3,748	3,620	3,283
Our investment balance	[1],[3],[5],[6]	2,649	2,565	2,649	2,565	$ 2,327
Revenues		266	232	758	724
Net earnings		$ 63	$ 77	$ 229	$ 218
Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		2	2	2	2	2
Number of operating properties owned | Property		93	79	93	79	85
Square feet | ft²		40	34	40	34	36
Total assets		$ 5,907	$ 5,439	$ 5,907	$ 5,439	$ 5,173
Third-party debt		2,186	2,004	2,186	2,004	1,947
Total liabilities		2,504	2,313	2,504	2,313	2,239
Our investment balance	[1]	513	493	513	493	$ 451
Revenues		95	91	272	253
Net earnings		$ 30	$ 30	$ 147	$ 74
Weighted Average [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage	[7]	28.70%	28.90%	28.70%	28.90%	27.90%
Weighted Average [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage	[3],[7]	27.10%	17.80%	27.10%	17.80%	14.90%
Weighted Average [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage	[4],[7]	42.90%	43.70%	42.90%	43.70%	43.90%
Weighted Average [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage	[3],[5],[6],[7]	33.20%	36.30%	33.20%	36.30%	35.10%
Weighted Average [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage	[7]	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 September 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 real estate property to a venture ($667.7 million and $469.9 million, respectively); (ii) recording additional costs associated with our investment in a venture ($106.3 million and $124.1 million, respectively); and (iii) advances to a venture ($195.2 million and $166.1 million, respectively).
[2]	In July 2017, we contributed operating properties to USLF. We received cash proceeds and additional units, which increased our ownership interest in USLF to 27.1%. See Note 2 for more information on this transaction.
[3]	In April 2016, we redeemed a portion of our investment in PTELF and 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 in the Consolidated Financial Statements of Cash Flows.
[4]	In August 2017, we acquired our partner’s interest in certain joint ventures in Brazil. See Note 2 for more information on this acquisition. Included in the Other Americas’ balances are nine properties aggregating 2.8 million square feet associated with the remaining Brazil joint ventures.
[5]	In February 2017, we formed the Prologis UK 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. Upon formation, we, along with our venture partner, committed £380.0 million ($508.9 million at September 30, 2017), of which our share is £57.0 million ($76.0 million at September 30, 2017). During the nine months ended September 30, 2017, we contributed 1.4 million square feet of stabilized properties, 0.6 million square feet of properties under development and 144.8 acres of land for an aggregate price of £269.5 million ($336.4 million). We expect to continue to contribute properties and land into UKLV
[6]	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.
[7]	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 - Sum41

Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Parenthetical) (Detail) $ in Thousands, € in Millions, £ in Millions	1 Months Ended			9 Months Ended	12 Months Ended
	Jan. 31, 2017USD ($)	Apr. 30, 2016USD ($)	Apr. 30, 2016EUR (€)	Sep. 30, 2017USD ($)ft²aBuildings	Dec. 31, 2016USD ($)ft²aBuildings	Sep. 30, 2017GBP (£)ft²aBuildings	Aug. 31, 2017ft²Property	Jul. 31, 2017ft²Property	Feb. 28, 2017GBP (£)
Schedule Of Equity Method Investments [Line Items]
Deferred gain recognize				$ 667,700	$ 469,900
Additional costs associated with investment in a venture				106,300	124,100
Advances to venture				195,200	166,100
Equity commitments				76,000					£ 57
Aggregate sales price of real estate properties				$ 25,977,157	$ 27,119,330
Properties Under Development [Member]
Schedule Of Equity Method Investments [Line Items]
Number of operating properties owned | Buildings				55	60	55
Square feet | ft²				22,189,000	19,539,000	22,189,000
Aggregate sales price of real estate properties				$ 1,059,764	$ 633,849
Land [Member]
Schedule Of Equity Method Investments [Line Items]
Square feet | a				5,871	5,892	5,871
Aggregate sales price of real estate properties				$ 1,313,268	$ 1,218,904
Other Americas [Member] | Brazil Joint Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Number of operating properties owned | Property							9
Square feet | ft²							2,800,000
Prologis Targeted European Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Redeemed a portion of investment		$ 210,600	€ 185
Prologis Targeted U S Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage								27.10%
Redeemed a portion of investment		$ 200,000
Number of operating properties owned | Property								190
Square feet | ft²								37,100,000
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				$ 508,900					£ 380
Prologis U.K. Logistics Venture [Member] | Stabilized Properties [Member]
Schedule Of Equity Method Investments [Line Items]
Square feet | ft²				1,400,000		1,400,000
Prologis U.K. Logistics Venture [Member] | Stabilized Properties, Properties under Development and Land [Member]
Schedule Of Equity Method Investments [Line Items]
Aggregate sales price of 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				600,000		600,000
Prologis U.K. Logistics Venture [Member] | Land [Member]
Schedule Of Equity Method Investments [Line Items]
Square feet | a				144.8		144.8

Unconsolidated Entities - Sum42

Unconsolidated Entities - Summary of Remaining Equity Commitments (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 3,021
Prologis Targeted U S Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 195
Expiration date for remaining commitments range start	2,019
Prologis Targeted European Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 623	[1]
Expiration date for remaining commitments range start	2,018	[1]
Expiration date for remaining commitments range end	2,019	[1]
Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 244	[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	2,020
Expiration date for remaining commitments range end	2,024
Prologis Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 331
Prologis Inc [Member] | Prologis Targeted U S Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	0
Prologis Inc [Member] | Prologis Targeted European Logistics Fund [Member]
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	37	[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	2,690
Venture Partners [Member] | Prologis Targeted U S Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	195
Venture Partners [Member] | Prologis Targeted European Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	623	[1]
Venture Partners [Member] | Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	207	[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 $1.18 U.S. dollars to the euro.
[2]	Equity commitments are denominated in British pounds sterling and reported in U.S. dollars based on an exchange rate of $1.34 U.S. dollars to the British pound sterling.

Unconsolidated Entities - Sum43

Unconsolidated Entities - Summary of Remaining Equity Commitments (Parenthetical) (Detail)	Sep. 30, 2017$ / €$ / £
Prologis Targeted European Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate | $ / €	1.18
Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate | $ / £	1.34

Assets Held for Sale or Contr44

Assets Held for Sale or Contribution - Summary of Assets Held for Sale or Contribution (Detail) ft² in Thousands, $ in Thousands	Sep. 30, 2017USD ($)ft²Property	Dec. 31, 2016USD ($)ft²Property
Long Lived Assets Held For Sale [Line Items]
Total assets held for sale or contribution	$ 321,905	$ 322,139
Total liabilities associated with assets held for sale or contribution – included in Other Liabilities	$ 7,389	$ 4,984
Disposal Group Heldforsale Not Discontinued Operations
Long Lived Assets Held For Sale [Line Items]
Number of operating properties | Property	26	13
Square feet | ft²	4,952	4,167

Debt - Debt Summary (Detail)

Debt - Debt Summary (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.00%	3.20%
Debt	$ 9,721,065	$ 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	$ 6,874,108	$ 6,417,492
Term Loan [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.50%	1.40%
Debt	$ 1,620,688	$ 1,484,523
Unsecured Other Debt [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	6.10%	6.10%
Debt	$ 13,994	$ 14,478
Secured Mortgages [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	5.70%	4.90%
Debt	$ 812,371	$ 979,585
Secured Mortgage Debt of Consolidated Entities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.80%	3.00%
Debt	$ 399,904	$ 1,677,193

Debt - Debt Summary (Parentheti

Debt - Debt Summary (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Jul. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Debt	$ 9,721,065			$ 10,608,294
Prologis North American Industrial Fund [Member]
Debt Instrument [Line Items]
Secured mortgage debt			$ 956,000
EUR
Debt Instrument [Line Items]
Debt	3,700,000
JPY
Debt Instrument [Line Items]
Debt	1,300,000
CAD
Debt Instrument [Line Items]
Debt	500,000
GBP
Debt Instrument [Line Items]
Debt	$ 700,000
Prologis Targeted U S Logistics Fund [Member]
Debt Instrument [Line Items]
Secured mortgage debt		$ 956,000

Debt - Additional Information (

Debt - Additional Information (Detail) £ in Millions	1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2017USD ($)	May 31, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Sep. 30, 2017JPY (¥)	Jun. 30, 2017GBP (£)	Mar. 31, 2017USD ($)	Mar. 31, 2017JPY (¥)	Feb. 28, 2017JPY (¥)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity			$ 3,476,000,000		$ 3,476,000,000
Issued amount			9,778,393,000		$ 9,778,393,000
Interest rate					3.00%		3.20%
Gains (losses) on early extinguishment of debt, net			0	$ 1,492,000	$ (30,596,000)	$ 2,484,000
Borrowings outstanding			0		0
Senior Notes Outstanding			6,900,000,000		6,900,000,000
Carrying Value of Debt			9,721,065,000		9,721,065,000		$ 10,608,294,000
Senior Notes [Member]
Debt Instrument [Line Items]
Issued amount			6,924,438,000		$ 6,924,438,000
Interest rate					3.10%		3.30%
Cash paid to redeem senior notes	$ 652,000,000
Redeemed amount of issued notes	618,300,000
Gains (losses) on early extinguishment of debt, net	(30,600,000)
Carrying Value of Debt			6,874,108,000		$ 6,874,108,000		$ 6,417,492,000
Senior Notes [Member] | 2.25%, Maturing in 2029 [Member]
Debt Instrument [Line Items]
Issued amount	$ 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			$ 64,000,000		$ 64,000,000						¥ 7,200,000,000
Debt Instrument maturity date					2027-03
Debt instrument interest rate			0.92%		0.92%			0.92%
2017 Yen Term Loan Tranche Two [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity			$ 42,700,000		$ 42,700,000						4,800,000,000
Debt Instrument maturity date					2028-03
Debt instrument interest rate			1.01%		1.01%			1.01%
2017 Yen Senior Term Loan [Member]
Debt Instrument [Line Items]
Borrowings outstanding										$ 107,300,000	¥ 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
Debt Instrument maturity date					2020-05
Borrowings outstanding	$ 500,000,000		160,000,000		$ 160,000,000
Borrowings repaid			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					1.50%		1.40%
Carrying Value of Debt			1,620,688,000		$ 1,620,688,000		$ 1,484,523,000
Global Facility [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity			3,000,000,000		3,000,000,000
Ability to increase borrowing capacity subject to currency fluctuations and obtaining additional lender commitments			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			577,800,000		$ 577,800,000			¥ 65,000,000,000
Debt Instrument maturity date					2021-02
Credit facility current borrowing capacity			$ 444,400,000		$ 444,400,000			¥ 50,000,000,000				¥ 45,000,000,000

Debt - Credit Facilities (Detai

Debt - Credit Facilities (Detail) $ in Millions	Sep. 30, 2017USD ($)
Debt Disclosure [Abstract]
Aggregate lender commitments	$ 3,476
Borrowings outstanding	0
Outstanding letters of credit	38
Current availability	$ 3,438

Debt - Long-Term Debt Maturitie

Debt - Long-Term Debt Maturities (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
2,017	$ 3,633
2,018	580,602
2,019	447,337
2020 (2)	1,083,915
2,021	1,342,134
2,022	1,282,405
2,023	1,805,848
2,024	960,845
2,025	896,621
2,026	592,123
Thereafter	782,930
Subtotal	9,778,393
Premiums (discounts), net	(13,546)
Debt issuance costs, net	(43,782)
Totals	9,721,065	$ 10,608,294
Senior Notes [Member]
Debt Instrument [Line Items]
2,017	0
2,018	175,000
2,019	0
2020 (2)	910,437
2,021	1,326,420
2,022	826,420
2,023	850,000
2,024	826,420
2,025	750,000
2,026	590,300
Thereafter	669,441
Subtotal	6,924,438
Premiums (discounts), net	(22,100)
Debt issuance costs, net	(28,230)
Totals	6,874,108	6,417,492
Term Loans And Other Debt [Member]
Debt Instrument [Line Items]
2,017	453
2,018	934
2,019	1,013
2020 (2)	161,077
2,021	910
2,022	445,170
2,023	921,982
2,024	874
2,025	950
2,026	591
Thereafter	112,320
Subtotal	1,646,274
Premiums (discounts), net	0
Debt issuance costs, net	(11,592)
Totals	1,634,682	$ 1,499,001
Secured Mortgage Debt [Member]
Debt Instrument [Line Items]
2,017	3,180
2,018	404,668
2,019	446,324
2020 (2)	12,401
2,021	14,804
2,022	10,815
2,023	33,866
2,024	133,551
2,025	145,671
2,026	1,232
Thereafter	1,169
Subtotal	1,207,681
Premiums (discounts), net	8,554
Debt issuance costs, net	(3,960)
Totals	$ 1,212,275

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Detail)	9 Months Ended
	Sep. 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		9 Months Ended	12 Months Ended
		Sep. 30, 2017	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Operating Partnership noncontrolling interest		$ 2,591,544	$ 3,072,469
Noncontrolling interests		3,015,505	3,467,059
Total Assets		29,654,150	30,249,932
Total Liabilities		11,094,894	11,791,792
Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Total Assets		6,950,713	9,678,752
Total Liabilities		$ 546,358	$ 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		$ 2,512,472	$ 2,424,800
Total Assets		6,105,053	6,201,278
Total Liabilities		515,962	$ 797,593
Prologis North American Industrial Fund [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage	[1]		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]		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]	$ 79,072	$ 99,185
Total Assets	[3]	845,660	866,821
Total Liabilities	[3]	30,396	34,073
Prologis, L.P. [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		2,591,544	3,072,469
Total Assets		29,654,150	30,249,932
Total Liabilities		11,094,894	11,791,792
Prologis, L.P. [Member] | Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Limited partners in Prologis, L.P.	[4],[5]	423,961	394,590
Total Assets	[4],[5]	0	0
Total Liabilities	[4],[5]	0	0
Prologis Inc [Member]
Noncontrolling Interest [Line Items]
Total Assets		6,950,713	9,678,752
Total Liabilities		546,358	1,871,094
Prologis Inc [Member] | Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		$ 3,015,505	$ 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 September 30, 2017, and December 31, 2016, limited partnership units were redeemable for cash or, at our option, 1.0 million and 1.8 million shares of the Parent’s common stock. During the first nine months of 2017, limited partnership units were redeemed for 0.8 million shares of the Parent’s common stock.
[4]	At September 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 $262.2 million and $241.8 million, respectively, based on the closing stock price of the Parent’s common stock. In 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 September 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 September 30, 2017 and December 31, 2016, respectively.

Noncontrolling Interests - No52

Noncontrolling Interests - Noncontrolling Interest Summary (Parenthetical) (Detail) - USD ($) shares in Thousands, $ in Millions	1 Months Ended	9 Months Ended		12 Months Ended
	Mar. 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Outstanding limited partnership units, redeemed		800
Business acquisition, common limited partnership units issued		4,100		4,600
Fair value of outstanding limited partnership units		$ 262.2		$ 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		1,800		1,800
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	1,900
Units outstanding		5,999		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	9 Months Ended
	Jan. 31, 2017	Sep. 30, 2017	Sep. 30, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options outstanding		800,000
Stock options exercisable		800,000
Stock options outstanding, weighted average exercise price		$ 30.81
Stock options exercisable, weighted average exercise price		$ 30.81
Aggregate intrinsic value of exercised options		$ 24.4	$ 43.9
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	9 Months Ended
	Sep. 30, 2017	Sep. 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 - Summ55

Long-Term Compensation - Summary of Unvested POP LTIP Units Activity (Detail) - POP LTIP Units [Member] shares in Thousands	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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	(234)
Number of Awards, ending balance	3,715
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	$ 45.54
Number of Shares, Beginning Balance	743
Number of Shares, Ending Balance	1,868
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	1,509
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	$ 45.35
Number of Shares, Beginning Balance	125
Number of Shares, Ending Balance	106
Vested and distributed	(802)
Forfeited	(63)

Earnings Per Common Share or 57

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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ 876,218	$ 279,255	$ 1,346,416	$ 762,679
Net earnings attributable to redeemable limited partnership unitholders	24,362	7,713	38,127	24,479
Adjusted net earnings attributable to common stockholders – Diluted	$ 900,580	$ 286,968	$ 1,384,543	$ 787,158
Weighted average common shares/units outstanding - Basic	531,288	527,288	530,036	525,462
Incremental weighted average effect on redemption of limited partnership units	15,641	14,568	16,150	17,156
Incremental weighted average effect of equity awards	7,234	5,344	5,432	2,610
Weighted average common shares/partnership units outstanding - Diluted	554,163	547,200	551,618	545,228
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 1.65	$ 0.53	$ 2.54	$ 1.45
Diluted	$ 1.63	$ 0.52	$ 2.51	$ 1.44
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	$ 900,331	$ 286,943	$ 1,383,529	$ 784,917
Net earnings attributable to limited partnership unitholders	249	25	1,014	2,241
Adjusted net earnings attributable to common stockholders – Diluted	$ 900,580	$ 286,968	$ 1,384,543	$ 787,158
Weighted average common shares/units outstanding - Basic	537,257	532,934	536,021	531,985
Incremental weighted average effect on conversion of Class A Units	8,588	8,753	8,625	8,798
Incremental weighted average effect on redemption of limited partnership units	1,084	169	1,540	1,835
Incremental weighted average effect of equity awards	7,234	5,344	5,432	2,610
Weighted average common shares/partnership units outstanding - Diluted	554,163	547,200	551,618	545,228
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 1.65	$ 0.53	$ 2.54	$ 1.45
Diluted	$ 1.63	$ 0.52	$ 2.51	$ 1.44
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	$ (14,233)	$ (4,641)	$ (21,911)	$ (12,769)
Adjusted net earnings attributable to common stockholders – Diluted	14,233	4,641	21,911	12,769
Prologis, L.P. [Member] | Common [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ 886,098	$ 282,302	$ 1,361,618	$ 772,148

Earnings Per Common Share or 58

Earnings Per Common Share or Unit - Computation of Basic and Diluted Earnings Per Share Unit (Parenthetical) (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total potential dilutive shares and units outstanding	25,575	25,453	25,188	24,939
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	9,672	10,587	10,166	10,633
Total potentially dilutive stock awards outstanding	9,934	9,220	9,038	7,783
Total potential dilutive shares and units outstanding	19,606	19,807	19,204	18,416
Total potential dilutive shares and units outstanding limited partnership	5,969	5,646	5,984	6,523

Financial Instruments and Fai59

Financial Instruments and Fair Value Measurements - Schedule of Fair Value and Classification of Derivative Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Derivatives Fair Value [Line Items]
Asset	$ 20,310	$ 47,114
Liability	29,794	1,268
Forwards and Options [Member] | GBP [Member]
Derivatives Fair Value [Line Items]
Asset	4,932	16,985
Liability	7,158	0
Forwards and Options [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	0	831
Liability	1,709	197
Forwards and Options [Member] | EUR
Derivatives Fair Value [Line Items]
Asset	0	10,933
Liability	12,144	0
Forwards and Options [Member] | JPY
Derivatives Fair Value [Line Items]
Asset	6,671	9,246
Liability	1,100	1,071
Interest Rate Hedges [Member]
Derivatives Fair Value [Line Items]
Asset	8,707	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	$ 7,683	$ 0

Financial Instruments and Fai60

Financial Instruments and Fair Value Measurements - Schedule of Fair Value and Classification of Derivative Instruments (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Foreign Currency Options [Member]
Derivatives Fair Value [Line Items]
Unrealized gains (losses) on foreign exchange transactions	$ (12.3)	$ 3.1	$ (44.8)	$ (10.4)

Financial Instruments and Fai61

Financial Instruments and Fair Value Measurements - Foreign Currency Contracts Activity (Detail)		9 Months Ended
		Sep. 30, 2017USD ($)DerivativeCAD / $£ / $€ / $¥ / $		Sep. 30, 2017EUR (€)DerivativeCAD / $£ / $€ / $¥ / $	Sep. 30, 2017GBP (£)DerivativeCAD / $£ / $€ / $¥ / $	Sep. 30, 2017JPY (¥)DerivativeCAD / $£ / $€ / $¥ / $	Sep. 30, 2017CADDerivativeCAD / $£ / $€ / $¥ / $	Sep. 30, 2016USD ($)		Sep. 30, 2016EUR (€)	Sep. 30, 2016GBP (£)	Sep. 30, 2016JPY (¥)	Sep. 30, 2016CAD
CAD
Derivative [Line Items]
Notional amounts at January 1		$ 38,000,000					CAD 50,000,000
New contracts		19,000,000					24,000,000
Matured, expired or settled contracts		(17,000,000)					(22,000,000)
Notional amounts at September 30		$ 40,000,000					CAD 52,000,000
Weighted average forward rate at September 30 | CAD / $		1.30		1.30	1.30	1.30	1.30
Active contracts at September 30		18		18	18	18	18
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 September 30		$ 99,000,000					CAD 133,000,000	100,000,000					CAD 133,000,000
Weighted average forward rate at September 30 | CAD / $		1.34		1.34	1.34	1.34	1.34
Active contracts at September 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 September 30		$ 0			£ 0			371,000,000			238,000,000
Weighted average forward rate at September 30 | £ / $		0		0	0	0	0
Active contracts at September 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 September 30								0				0
Forwards and Options [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		(75,000,000)	[1]		(48,000,000)			(55,000,000)	[1]		(36,000,000)
Notional amounts at September 30		$ 140,000,000	[1]		£ 107,000,000			93,000,000	[1]		£ 61,000,000
Weighted average forward rate at September 30 | £ / $		1.31		1.31	1.31	1.31	1.31
Active contracts at September 30		19		19	19	19	19
Forwards and Options [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		147,000,000	[1]			15,460,000,000
Matured, expired or settled contracts		(49,000,000)	[1]			(5,400,000,000)		(95,000,000)	[1]			(10,940,000,000)
Notional amounts at September 30		$ 133,000,000	[1]			¥ 14,100,000,000		161,000,000	[1]			¥ 17,360,000,000
Weighted average forward rate at September 30 | ¥ / $		106.11		106.11	106.11	106.11	106.11
Active contracts at September 30		29		29	29	29	29
Forwards and Options [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				359,000,000	[1]	321,000,000
Matured, expired or settled contracts		(81,000,000)	[1]	(72,000,000)				(492,000,000)	[1]	(440,000,000)
Notional amounts at September 30		$ 179,000,000	[1]	€ 158,000,000				177,000,000	[1]	€ 156,000,000
Weighted average forward rate at September 30 | € / $		1.13		1.13	1.13	1.13	1.13
Active contracts at September 30		23		23	23	23	23
Forwards and Options [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]							(21,000,000)
Notional amounts at September 30 | $	[1]							$ 44,000,000
[1]	During the nine months ended September 30, 2017, and 2016, we exercised 33 and 41 forward and option contracts, respectively. We realized gains of $1.6 million and $10.5 million for the three and nine months ended September 30, 2017, respectively, and losses of $3.1 million and $1.2 million for the three and nine months ended September 30, 2016, respectively, in Foreign Currency and Derivative Losses, Net.

Financial Instruments and Fai62

Financial Instruments and Fair Value Measurements - Foreign Currency Contracts Activity (Parenthetical) (Detail) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Contracts	Sep. 30, 2016USD ($)Contracts
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Number of forward and option contracts exercised | Contracts			33	41
Gains (losses) from forward and option contracts exercised | $	$ 1.6	$ (3.1)	$ 10.5	$ (1.2)

Financial Instruments and Fai63

Financial Instruments and Fair Value Measurements - Additional Information (Detail) ¥ in Billions	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)Derivative	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Derivative	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)Derivative	Sep. 30, 2016JPY (¥)
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)	$ 147,600,000	$ (40,800,000)	474,100,000	(22,000,000)
Interest Rate Swaps [Member]
Derivatives Fair Value [Line Items]
Notional value of derivative	$ 271,200,000		$ 271,200,000		$ 271,200,000
Derivative settlement amount		$ 924,600,000		$ 924,600,000		¥ 105.9

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 (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative instruments	$ 2,468	$ 16,242	$ 2,343	$ 23,844
Total derivative and nonderivative hedging instruments	(137,417)	(2,777)	(411,734)	(64,948)
Designated As Hedging Instrument [Member] | Derivative Net Investment Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative instruments	(3,623)	11,546	(13,114)	40,966
Designated As Hedging Instrument [Member] | Interest Rate and Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative instruments	5,553	3,110	10,382	(10,714)
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	538	1,586	5,075	(6,408)
Non-Derivative Net Investment Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Nonderivative net investment hedges	$ (139,885)	$ (19,019)	$ (414,077)	$ (88,792)

Financial Instruments and Fai65

Financial Instruments and Fair Value Measurements - Summary of Gains (Losses) From Change in Fair Value of Derivative Instruments Included in Other Comprehensive Income (Parenthetical) (Detail) € in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017EUR (€)	Jun. 30, 2017USD ($)	Jun. 30, 2017EUR (€)	Dec. 31, 2016USD ($)	Dec. 31, 2016EUR (€)
Derivative Instruments Gain Loss [Line Items]
Amount received from (paid for) on settlement of net investment hedges	$ 0	$ 0	$ 2,500,000	$ 16,800,000
Amount received from (paid for) on settlement of net investment hedges	0	0	(2,500,000)	(16,800,000)
Interest expense reclassified	64,190,000	75,310,000	212,456,000	232,577,000
Debt	9,721,065,000		9,721,065,000					$ 10,608,294,000
Amount of gain (loss) included in AOCI	4,061,000	(48,232,000)	46,890,000	(69,832,000)
Senior notes	6,900,000,000		6,900,000,000
Forward Contracts
Derivative Instruments Gain Loss [Line Items]
Amount of gain (loss) included in AOCI	(3,800,000)	0	(15,100,000)
Foreign Currency Options [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of gain (loss) included in AOCI	4,200,000		4,200,000
Designated As Hedging Instrument [Member] | Forward Contracts
Derivative Instruments Gain Loss [Line Items]
Debt	3,600,000,000		3,600,000,000		€ 3,000			$ 3,400,000,000	€ 3,200
Designated As Hedging Instrument [Member] | Foreign Currency Options [Member]
Derivative Instruments Gain Loss [Line Items]
Senior notes	415,000,000		415,000,000		€ 322.8	$ 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	1,300,000	$ 2,000,000	4,200,000	$ 4,100,000
Amount to be reclassified to interest expense, next 12 months	$ 3,500,000		$ 3,500,000

Financial Instruments and Fai66

Financial Instruments and Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	$ 9,721,065	$ 10,608,294
Fair Value of Debt	10,317,340	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	6,874,108	6,417,492
Fair Value of Debt	7,390,221	6,935,485
Term Loans and Unsecured Other Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	1,634,682	1,499,001
Fair Value of Debt	1,653,113	1,510,661
Secured Mortgages [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	812,371	979,585
Fair Value of Debt	874,491	1,055,020
Secured Mortgage of Consolidated Entities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	399,904	1,677,193
Fair Value of Debt	$ 399,515	$ 1,683,489

Business Segments - Additional

Business Segments - Additional Information (Detail)	9 Months Ended
	Sep. 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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total revenues	$ 602,874	$ 704,565	$ 1,998,212	$ 1,913,020
Operating income	175,491	232,624	612,649	504,170
General and administrative expenses	57,656	58,157	171,350	165,634
Depreciation and amortization expenses	201,903	224,867	656,639	705,249
Earnings from unconsolidated entities, net	55,066	45,857	172,267	145,622
Interest expense	(64,190)	(75,310)	(212,456)	(232,577)
Interest and other income, net	4,816	2,932	9,493	7,051
Foreign currency and derivative losses, net	(18,872)	(1,730)	(46,327)	(26,277)
Gains (losses) on early extinguishment of debt, net	0	1,492	(30,596)	2,484
Earnings before income taxes	931,364	323,161	1,464,414	862,436
Total assets	29,654,150		29,654,150		$ 30,249,932
Investments in and advances to unconsolidated entities	5,371,758		5,371,758		4,230,429
Assets held for sale or contribution	321,905		321,905		322,139
Notes receivable backed by real estate	0		0		32,100
Cash and cash equivalents	568,726	375,120	568,726	375,120	807,316	$ 264,080
Other assets	1,392,271		1,392,271		1,496,990
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenues	602,874	704,565	1,998,212	1,913,020
Operating income	435,050	515,648	1,440,638	1,375,053
Total assets	23,187,433		23,187,433		24,614,975
Operating Segments [Member] | Real Estate Operations Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	534,832	561,984	1,692,471	1,665,901
Operating income	403,004	417,691	1,254,678	1,225,717
Total assets	23,124,559		23,124,559		24,547,949
Operating Segments [Member] | Strategic Capital Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	68,042	142,581	305,741	247,119
Operating income	32,046	97,957	185,960	149,336
Total assets	62,874		62,874		67,026
Operating Segments [Member] | U.S. [Member] | Real Estate Operations Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	478,718	512,759	1,532,706	1,525,623
Operating income	363,802	385,837	1,144,176	1,131,340
Total assets	19,199,770		19,199,770		21,286,422
Operating Segments [Member] | U.S. [Member] | Strategic Capital Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	17,340	9,940	159,925	28,876
Operating income	1,645	(577)	103,252	1,959
Total assets	17,136		17,136		18,090
Operating Segments [Member] | Other Americas [Member] | Real Estate Operations Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	23,157	15,598	54,690	44,616
Operating income	16,037	10,417	36,403	29,127
Total assets	1,857,678		1,857,678		978,476
Operating Segments [Member] | Other Americas [Member] | Strategic Capital Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	6,061	5,805	21,976	16,884
Operating income	3,934	2,975	14,666	9,163
Operating Segments [Member] | Europe [Member] | Real Estate Operations Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	16,369	18,967	56,676	54,975
Operating income	11,454	13,787	40,713	40,420
Total assets	1,058,894		1,058,894		1,346,589
Operating Segments [Member] | Europe [Member] | Strategic Capital Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	26,289	113,577	78,524	161,686
Operating income	16,497	91,390	49,229	125,460
Total assets	44,990		44,990		47,635
Operating Segments [Member] | Asia [Member] | Real Estate Operations Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	16,588	14,660	48,399	40,687
Operating income	11,711	7,650	33,386	24,830
Total assets	1,008,217		1,008,217		936,462
Operating Segments [Member] | Asia [Member] | Strategic Capital Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	18,352	13,259	45,316	39,673
Operating income	9,970	4,169	18,813	12,754
Total assets	748		748		1,301
Reconciling Items [Member]
Segment Reporting Information [Line Items]
Operating income	175,491	232,624	612,649	504,170
General and administrative expenses	57,656	58,157	171,350	165,634
Depreciation and amortization expenses	201,903	224,867	656,639	705,249
Earnings from unconsolidated entities, net	55,066	45,857	172,267	145,622
Interest expense	(64,190)	(75,310)	(212,456)	(232,577)
Interest and other income, net	4,816	2,932	9,493	7,051
Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net	779,053	117,296	959,384	461,963
Foreign currency and derivative losses, net	(18,872)	(1,730)	(46,327)	(26,277)
Gains (losses) on early extinguishment of debt, net	0	$ 1,492	(30,596)	$ 2,484
Total assets	6,466,717		6,466,717		5,634,957
Investments in and advances to unconsolidated entities	5,371,758		5,371,758		4,230,429
Assets held for sale or contribution	321,905		321,905		322,139
Notes receivable backed by real estate	0		0		32,100
Cash and cash equivalents	568,726		568,726		807,316
Other assets	$ 204,328		$ 204,328		$ 242,973

Supplemental Cash Flow Inform69

Supplemental Cash Flow Information - Additional Information (Detail) - USD ($) $ in Thousands, shares in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Jul. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Supplemental Cash Flow Information [Line Items]
Notes receivable backed by real estate	$ 0	$ 0				$ 32,100
Capitalization for equity based compensation expense		$ 20,800	$ 19,700
Outstanding limited partnership units, redeemed		0.8
Interest paid, net of amounts capitalized		$ 232,400	267,200
Cash paid for income taxes, net of refunds		29,700	$ 16,400
Prologis, L.P. [Member]
Supplemental Cash Flow Information [Line Items]
Notes receivable backed by real estate	0	$ 0				$ 32,100
Limited Partners [Member] | Prologis, L.P. [Member] | Common [Member]
Supplemental Cash Flow Information [Line Items]
Outstanding limited partnership units, redeemed		0.7	1.9
Prologis Targeted U S Logistics Fund [Member]
Supplemental Cash Flow Information [Line Items]
Equity ownership interest received	$ 1,100,000
Notes receivable backed by real estate					$ 19,500
Secured Debt				$ 956,000
Unconsolidated Entities [Member]
Supplemental Cash Flow Information [Line Items]
Equity ownership interest received		$ 83,600	$ 31,800