Prologis (PLD) 10-K 11 Feb 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Feb. 04, 2020	Jun. 30, 2019
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	Prologis, Inc.
Entity Central Index Key	0001045609
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		738,743,000
Entity Interactive Data Current	Yes
Entity File Number	001-13545
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	94-3281941
Entity Address, Address Line One	Pier 1, Bay 1
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94111
City Area Code	415
Local Phone Number	394-9000
Document Annual Report	true
Document Transition Report	false
Entity Public Float			$ 50,236,866,166
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of Part III of this report are incorporated by reference to the registrant’s definitive proxy statement for the 2020 annual meeting of its stockholders or will be provided in an amendment filed on Form 10-K/A.
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	PLD
Security Exchange Name	NYSE
Notes 1. 375 Percent Due 2021 [Member]
Document Information [Line Items]
Title of 12(b) Security	1.375% Notes due 2021
Trading Symbol	PLD/21
Security Exchange Name	NYSE
Notes 3. 000 Percent Due 2022 [Member]
Document Information [Line Items]
Title of 12(b) Security	3.000% Notes due 2022
Trading Symbol	PLD/22
Security Exchange Name	NYSE
Notes 3. 375 Percent Due 2024 [Member]
Document Information [Line Items]
Title of 12(b) Security	3.375% Notes due 2024
Trading Symbol	PLD/24
Security Exchange Name	NYSE
Notes 3. 000 Percent Due 2026 [Member]
Document Information [Line Items]
Title of 12(b) Security	3.000% Notes due 2026
Trading Symbol	PLD/26
Security Exchange Name	NYSE
Notes 2. 250 Percent Due 2029 [Member]
Document Information [Line Items]
Title of 12(b) Security	2.250% Notes due 2029
Trading Symbol	PLD/29
Security Exchange Name	NYSE
Floating Rate Notes Due 2020 [Member]
Document Information [Line Items]
Title of 12(b) Security	Floating Rate Notes due 2020
Trading Symbol	PLD/20B
Security Exchange Name	NYSE
Prologis LP [Member]
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	Prologis, L.P.
Entity Central Index Key	0001045610
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity File Number	001-14245
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3285362
Entity Address, Address Line One	Pier 1, Bay 1
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94111
City Area Code	415
Local Phone Number	394-9000
Document Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of Part III of this report are incorporated by reference to the registrant’s definitive proxy statement for the 2020 annual meeting of its stockholders or will be provided in an amendment filed on Form 10-K/A.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Investments in real estate properties	$ 35,224,414	$ 34,586,987
Less accumulated depreciation	5,437,662	4,656,680
Net investments in real estate properties	29,786,752	29,930,307
Investments in and advances to unconsolidated entities	6,237,371	5,745,294
Assets held for sale or contribution	720,685	622,288
Net investments in real estate	36,744,808	36,297,889
Lease right-of-use assets	486,330	0
Cash and cash equivalents	1,088,855	343,856
Other assets	1,711,857	1,775,919
Total assets	40,031,850	38,417,664
Liabilities:
Debt	11,905,877	11,089,815
Lease liabilities	471,634	0
Accounts payable and accrued expenses	704,954	760,515
Other liabilities	877,601	766,446
Total liabilities	13,960,066	12,616,776
Prologis, Inc. stockholders’ equity:
Series Q preferred stock at stated liquidation preference of $50 per share; $0.01 par value; 1,379 shares issued and outstanding and 100,000 preferred shares authorized at December 31, 2019 and 2018	68,948	68,948
Common stock; $0.01 par value; 631,797 and 629,616 shares issued and outstanding at December 31, 2019 and 2018, respectively	6,318	6,296
Additional paid-in capital	25,719,427	25,685,987
Accumulated other comprehensive loss	(990,398)	(1,084,671)
Distributions in excess of net earnings	(2,151,168)	(2,378,467)
Total Prologis, Inc. stockholders’ equity	22,653,127	22,298,093
Partners' capital:
Noncontrolling interests	3,418,657	3,502,795
Total equity	26,071,784	25,800,888
Total liabilities and equity	40,031,850	38,417,664
Prologis, L.P. [Member]
ASSETS
Investments in real estate properties	35,224,414	34,586,987
Less accumulated depreciation	5,437,662	4,656,680
Net investments in real estate properties	29,786,752	29,930,307
Investments in and advances to unconsolidated entities	6,237,371	5,745,294
Assets held for sale or contribution	720,685	622,288
Net investments in real estate	36,744,808	36,297,889
Lease right-of-use assets	486,330	0
Cash and cash equivalents	1,088,855	343,856
Other assets	1,711,857	1,775,919
Total assets	40,031,850	38,417,664
Liabilities:
Debt	11,905,877	11,089,815
Lease liabilities	471,634	0
Accounts payable and accrued expenses	704,954	760,515
Other liabilities	877,601	766,446
Total liabilities	13,960,066	12,616,776
Partners' capital:
Total partners' capital	23,296,390	22,964,419
Noncontrolling interests	2,775,394	2,836,469
Total capital	26,071,784	25,800,888
Total liabilities and equity	40,031,850	38,417,664
Prologis, L.P. [Member] | Preferred [Member]
Partners' capital:
General partner	68,948	68,948
Prologis, L.P. [Member] | Common [Member]
Partners' capital:
General partner	22,584,179	22,229,145
Limited partners	355,076	371,281
Prologis, L.P. [Member] | Class A Common [Member]
Partners' capital:
Limited partners	$ 288,187	$ 295,045

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
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	1,379,000	1,379,000
Preferred stock, shares outstanding	1,379,000	1,379,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	631,797,000	629,616,000
Common stock, shares outstanding	631,797,000	629,616,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues:
Rental	$ 2,831,818	$ 2,388,791	$ 2,225,141
Strategic capital	491,886	406,300	373,889
Development management and other	6,917	9,358	19,104
Total revenues	3,330,621	2,804,449	2,618,134
Expenses:
Rental	734,266	600,648	569,523
Strategic capital	184,661	157,040	155,141
General and administrative	266,718	238,985	231,059
Depreciation and amortization	1,139,879	947,214	879,140
Other	13,149	13,560	12,205
Total expenses	2,338,673	1,957,447	1,847,068
Operating income before gains on real estate transactions, net	991,948	847,002	771,066
Gains on dispositions of development properties and land, net	467,577	469,817	327,528
Gains on other dispositions of investments in real estate, net	390,241	371,179	855,437
Operating income	1,849,766	1,687,998	1,954,031
Other income (expense):
Earnings from unconsolidated entities, net	200,178	298,260	248,567
Interest expense	(239,953)	(229,141)	(274,486)
Interest and other income, net	24,213	14,663	13,731
Foreign currency and derivative gains (losses), net	(41,715)	117,096	(57,896)
Losses on early extinguishment of debt, net	(16,126)	(2,586)	(68,379)
Total other income (expense)	(73,403)	198,292	(138,463)
Earnings before income taxes	1,776,363	1,886,290	1,815,568
Total income tax expense	74,517	63,330	54,609
Consolidated net earnings	1,701,846	1,822,960	1,760,959
Less net earnings attributable to noncontrolling interests	128,887	173,599	108,634
Net earnings attributable to controlling interests	1,572,959	1,649,361	1,652,325
Less preferred stock/unit dividends/distributions	6,009	5,935	6,499
Loss on preferred stock/unit repurchase	0	0	3,895
Net earnings attributable to common stockholders/unitholders	$ 1,566,950	$ 1,643,426	$ 1,641,931
Weighted average common shares/units outstanding - Basic	630,580	567,367	530,400
Weighted average common shares/units outstanding - Diluted	654,903	590,239	552,300
Net earnings per share/unit attributable to common stockholders/unitholders - Basic	$ 2.48	$ 2.90	$ 3.10
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted	$ 2.46	$ 2.87	$ 3.06
Prologis, L.P. [Member]
Revenues:
Rental	$ 2,831,818	$ 2,388,791	$ 2,225,141
Strategic capital	491,886	406,300	373,889
Development management and other	6,917	9,358	19,104
Total revenues	3,330,621	2,804,449	2,618,134
Expenses:
Rental	734,266	600,648	569,523
Strategic capital	184,661	157,040	155,141
General and administrative	266,718	238,985	231,059
Depreciation and amortization	1,139,879	947,214	879,140
Other	13,149	13,560	12,205
Total expenses	2,338,673	1,957,447	1,847,068
Operating income before gains on real estate transactions, net	991,948	847,002	771,066
Gains on dispositions of development properties and land, net	467,577	469,817	327,528
Gains on other dispositions of investments in real estate, net	390,241	371,179	855,437
Operating income	1,849,766	1,687,998	1,954,031
Other income (expense):
Earnings from unconsolidated entities, net	200,178	298,260	248,567
Interest expense	(239,953)	(229,141)	(274,486)
Interest and other income, net	24,213	14,663	13,731
Foreign currency and derivative gains (losses), net	(41,715)	117,096	(57,896)
Losses on early extinguishment of debt, net	(16,126)	(2,586)	(68,379)
Total other income (expense)	(73,403)	198,292	(138,463)
Earnings before income taxes	1,776,363	1,886,290	1,815,568
Total income tax expense	74,517	63,330	54,609
Consolidated net earnings	1,701,846	1,822,960	1,760,959
Less net earnings attributable to noncontrolling interests	82,222	124,712	63,620
Net earnings attributable to controlling interests	1,619,624	1,698,248	1,697,339
Less preferred stock/unit dividends/distributions	6,009	5,935	6,499
Loss on preferred stock/unit repurchase	0	0	3,895
Net earnings attributable to common stockholders/unitholders	$ 1,613,615	$ 1,692,313	$ 1,686,945
Weighted average common shares/units outstanding - Basic	641,128	575,798	536,335
Weighted average common shares/units outstanding - Diluted	654,903	590,239	552,300
Net earnings per share/unit attributable to common stockholders/unitholders - Basic	$ 2.48	$ 2.90	$ 3.10
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted	$ 2.46	$ 2.87	$ 3.06

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Consolidated net earnings	$ 1,701,846	$ 1,822,960	$ 1,760,959
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	98,482	(190,590)	63,455
Unrealized gains (losses) on derivative contracts, net	(1,335)	(1,323)	22,591
Comprehensive income	1,798,993	1,631,047	1,847,005
Net earnings attributable to noncontrolling interests	(128,887)	(173,599)	(108,634)
Other comprehensive loss (income) attributable to noncontrolling interests	(2,874)	8,900	(50,231)
Comprehensive income attributable to common stockholders / unitholders	1,667,232	1,466,348	1,688,140
Prologis, L.P. [Member]
Consolidated net earnings	1,701,846	1,822,960	1,760,959
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	98,482	(190,590)	63,455
Unrealized gains (losses) on derivative contracts, net	(1,335)	(1,323)	22,591
Comprehensive income	1,798,993	1,631,047	1,847,005
Net earnings attributable to noncontrolling interests	(82,222)	(124,712)	(63,620)
Other comprehensive loss (income) attributable to noncontrolling interests	(188)	3,416	(49,278)
Comprehensive income attributable to common stockholders / unitholders	$ 1,716,583	$ 1,509,751	$ 1,734,107

Consolidated Statements of Equi

Consolidated Statements of Equity - 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]	Noncontrolling 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
Consolidated net earnings	1,760,959					1,652,325	108,634
Effect of equity compensation plans	115,972		$ 20	74,506			41,446
Effect of equity compensation plans, shares			2,000
Capital contributions	254,214						254,214
Repurchase of preferred stock	(13,182)	(9,287)				(3,895)
Purchase of noncontrolling interests	(813,847)			(202,040)			(611,807)
Conversion of noncontrolling interests			$ 15	47,711			(47,726)
Conversion of noncontrolling interests, shares			1,515
Foreign currency translation gains (losses), net	63,455				13,810		49,645
Unrealized gains (losses) on derivative contracts, net	22,591				22,005		586
Reallocation of equity				(12,143)			12,143
Dividends ($1.76 per common share for twelve months ended December 31, 2017 and $1.92 for twelve months ended December 31, 2018 and $2.12 for twelve months ended December 31, 2019) and other distributions	(1,142,561)			(66)		(942,884)	(199,611)
Balance at Dec. 31, 2017	18,705,741	68,948	$ 5,322	19,363,007	(901,658)	(2,904,461)	3,074,583
Balance, shares at Dec. 31, 2017			532,186
Consolidated net earnings	1,822,960					1,649,361	173,599
Effect of equity compensation plans	85,775		$ 12	33,544			52,219
Effect of equity compensation plans, shares			1,251
DCT Transaction, net of issuance costs	6,620,721		$ 962	6,321,667			298,092
Issuance of units related to acquisitions, shares			96,179
Capital contributions	181,866						181,866
Redemption of noncontrolling interests	(75,920)			(11,257)			(64,663)
Foreign currency translation gains (losses), net	(190,590)				(181,728)		(8,862)
Unrealized gains (losses) on derivative contracts, net	(1,323)				(1,285)		(38)
Reallocation of equity				(20,849)			20,849
Dividends ($1.76 per common share for twelve months ended December 31, 2017 and $1.92 for twelve months ended December 31, 2018 and $2.12 for twelve months ended December 31, 2019) and other distributions	(1,348,342)			(125)		(1,123,367)	(224,850)
Balance at Dec. 31, 2018	$ 25,800,888	68,948	$ 6,296	25,685,987	(1,084,671)	(2,378,467)	3,502,795
Balance, shares at Dec. 31, 2018	629,616		629,616
Consolidated net earnings	$ 1,701,846					1,572,959	128,887
Effect of equity compensation plans	104,709		$ 10	37,008			67,691
Effect of equity compensation plans, shares			961
Capital contributions	11,604						11,604
Purchase of noncontrolling interests	(13,250)			2,133			(15,383)
Redemption of noncontrolling interests	(108,433)		$ 12	32,878			(141,323)
Redemption of noncontrolling interests, shares			1,220
Contribution to Brazil venture	(12,630)						(12,630)
Foreign currency translation gains (losses), net	98,482				95,572		2,910
Unrealized gains (losses) on derivative contracts, net	(1,335)				(1,299)		(36)
Reallocation of equity				(38,561)			38,561
Dividends ($1.76 per common share for twelve months ended December 31, 2017 and $1.92 for twelve months ended December 31, 2018 and $2.12 for twelve months ended December 31, 2019) and other distributions	(1,510,097)			(18)		(1,345,660)	(164,419)
Balance at Dec. 31, 2019	$ 26,071,784	$ 68,948	$ 6,318	$ 25,719,427	$ (990,398)	$ (2,151,168)	$ 3,418,657
Balance, shares at Dec. 31, 2019	631,797		631,797

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement Of Stockholders Equity [Abstract]
Dividends per common share	$ 2.12	$ 1.92	$ 1.76

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating activities:
Consolidated net earnings	$ 1,701,846	$ 1,822,960	$ 1,760,959
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(98,426)	(66,938)	(81,021)
Equity-based compensation awards	97,557	76,093	76,640
Depreciation and amortization	1,139,879	947,214	879,140
Earnings from unconsolidated entities, net	(200,178)	(298,260)	(248,567)
Operating distributions from unconsolidated entities	346,517	349,877	307,220
Decrease (increase) in operating receivables from unconsolidated entities	11,557	(39,890)	(30,893)
Amortization of debt discounts and debt issuance costs, net	17,006	12,653	751
Gains on dispositions of development properties and land, net	(467,577)	(469,817)	(327,528)
Gains on other dispositions of investments in real estate, net	(390,241)	(371,179)	(855,437)
Unrealized foreign currency and derivative losses (gains), net	70,693	(120,358)	68,956
Losses on early extinguishment of debt, net	16,126	2,586	68,379
Deferred income tax expense (benefit)	12,221	1,448	(5,005)
Decrease (increase) in accounts receivable, lease right-of-use assets and other assets	(108,165)	(72,955)	37,278
Increase in accounts payable and accrued expenses, lease liabilities and other liabilities	115,219	30,125	36,374
Net cash provided by operating activities	2,264,034	1,803,559	1,687,246
Investing activities:
Real estate development	(1,795,137)	(1,953,144)	(1,606,133)
DCT Transaction, net of cash acquired	0	(45,870)	0
Real estate acquisitions	(1,006,043)	(999,131)	(442,696)
Tenant improvements and lease commissions on previously leased space	(179,274)	(134,868)	(153,255)
Property improvements	(143,029)	(93,073)	(110,635)
Proceeds from dispositions and contributions of real estate properties	2,331,623	2,310,388	3,236,603
Investments in and advances to unconsolidated entities	(276,169)	(160,358)	(249,735)
Acquisition of a controlling interest in unconsolidated entities, net of cash received	0	0	(374,605)
Return of investment from unconsolidated entities	389,463	360,278	209,151
Proceeds from repayment of notes receivable backed by real estate	0	34,260	32,100
Proceeds from the settlement of net investment hedges	23,640	29,425	7,541
Payments on the settlement of net investment hedges	(30,424)	(11,703)	(5,058)
Net cash provided by (used in) investing activities	(685,350)	(663,796)	543,278
Financing activities:
Proceeds from issuance of common stock/units	6,082	6,891	32,858
Dividends/distributions paid on common and preferred stock/units	(1,345,660)	(1,123,367)	(942,884)
Repurchase of preferred stock/units	0	0	(13,182)
Noncontrolling interests contributions	11,604	170,066	240,925
Noncontrolling interests distributions	(164,419)	(224,850)	(207,788)
Settlement of noncontrolling interests	(109,811)	(75,920)	(813,847)
Tax paid for shares withheld	(22,434)	(26,508)	(19,775)
Debt and equity issuance costs paid	(17,656)	(17,446)	(7,054)
Net proceeds from (payments on) credit facilities	127,566	(674,559)	283,255
Repurchase of and payments on debt	(3,301,827)	(4,166,088)	(3,578,889)
Proceeds from the issuance of debt	3,976,956	4,899,680	2,419,797
Net cash used in financing activities	(839,599)	(1,232,101)	(2,606,584)
Effect of foreign currency exchange rate changes on cash	5,914	(10,852)	15,790
Net increase (decrease) in cash and cash equivalents	744,999	(103,190)	(360,270)
Cash and cash equivalents, beginning of year	343,856	447,046	807,316
Cash and cash equivalents, end of year	1,088,855	343,856	447,046
Prologis, L.P. [Member]
Operating activities:
Consolidated net earnings	1,701,846	1,822,960	1,760,959
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(98,426)	(66,938)	(81,021)
Equity-based compensation awards	97,557	76,093	76,640
Depreciation and amortization	1,139,879	947,214	879,140
Earnings from unconsolidated entities, net	(200,178)	(298,260)	(248,567)
Operating distributions from unconsolidated entities	346,517	349,877	307,220
Decrease (increase) in operating receivables from unconsolidated entities	11,557	(39,890)	(30,893)
Amortization of debt discounts and debt issuance costs, net	17,006	12,653	751
Gains on dispositions of development properties and land, net	(467,577)	(469,817)	(327,528)
Gains on other dispositions of investments in real estate, net	(390,241)	(371,179)	(855,437)
Unrealized foreign currency and derivative losses (gains), net	70,693	(120,358)	68,956
Losses on early extinguishment of debt, net	16,126	2,586	68,379
Deferred income tax expense (benefit)	12,221	1,448	(5,005)
Decrease (increase) in accounts receivable, lease right-of-use assets and other assets	(108,165)	(72,955)	37,278
Increase in accounts payable and accrued expenses, lease liabilities and other liabilities	115,219	30,125	36,374
Net cash provided by operating activities	2,264,034	1,803,559	1,687,246
Investing activities:
Real estate development	(1,795,137)	(1,953,144)	(1,606,133)
DCT Transaction, net of cash acquired	0	(45,870)	0
Real estate acquisitions	(1,006,043)	(999,131)	(442,696)
Tenant improvements and lease commissions on previously leased space	(179,274)	(134,868)	(153,255)
Property improvements	(143,029)	(93,073)	(110,635)
Proceeds from dispositions and contributions of real estate properties	2,331,623	2,310,388	3,236,603
Investments in and advances to unconsolidated entities	(276,169)	(160,358)	(249,735)
Acquisition of a controlling interest in unconsolidated entities, net of cash received	0	0	(374,605)
Return of investment from unconsolidated entities	389,463	360,278	209,151
Proceeds from repayment of notes receivable backed by real estate	0	34,260	32,100
Proceeds from the settlement of net investment hedges	23,640	29,425	7,541
Payments on the settlement of net investment hedges	(30,424)	(11,703)	(5,058)
Net cash provided by (used in) investing activities	(685,350)	(663,796)	543,278
Financing activities:
Proceeds from issuance of common stock/units	6,082	6,891	32,858
Dividends/distributions paid on common and preferred stock/units	(1,396,051)	(1,168,133)	(980,105)
Repurchase of preferred stock/units	0	0	(13,182)
Noncontrolling interests contributions	11,604	170,066	240,925
Noncontrolling interests distributions	(114,028)	(180,084)	(170,567)
Settlement of noncontrolling interests	(22,471)	(22,728)	(790,016)
Redemption of common limited partnership units	(87,340)	(53,192)	(23,831)
Tax paid for shares of the Parent withheld	(22,434)	(26,508)	(19,775)
Debt and equity issuance costs paid	(17,656)	(17,446)	(7,054)
Net proceeds from (payments on) credit facilities	127,566	(674,559)	283,255
Repurchase of and payments on debt	(3,301,827)	(4,166,088)	(3,578,889)
Proceeds from the issuance of debt	3,976,956	4,899,680	2,419,797
Net cash used in financing activities	(839,599)	(1,232,101)	(2,606,584)
Effect of foreign currency exchange rate changes on cash	5,914	(10,852)	15,790
Net increase (decrease) in cash and cash equivalents	744,999	(103,190)	(360,270)
Cash and cash equivalents, beginning of year	343,856	447,046	807,316
Cash and cash equivalents, end of year	$ 1,088,855	$ 343,856	$ 447,046

Consolidated Statements of Capi

Consolidated Statements of Capital - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Consolidated net earnings	$ 426,242	$ 373,765	$ 690,490	$ 391,959	$ 1,701,846	$ 1,822,960	$ 1,760,959
Effect of equity compensation plans					104,709	85,775	115,972
Capital contributions					11,604	181,866	254,214
Repurchase of preferred units							(13,182)
Purchase of noncontrolling interests					(13,250)		(813,847)
Redemption of noncontrolling interests					(108,433)	(75,920)
Contribution to Brazil venture					(12,630)
Unrealized gains (losses) on derivative contracts, net					(1,335)	(1,323)	22,591
Noncontrolling Interests [Member]
Consolidated net earnings					128,887	173,599	108,634
Effect of equity compensation plans					67,691	52,219	41,446
Capital contributions					11,604	181,866	254,214
Purchase of noncontrolling interests					(15,383)		(611,807)
Redemption of noncontrolling interests					(141,323)	(64,663)
Contribution to Brazil venture					(12,630)
Unrealized gains (losses) on derivative contracts, net					$ (36)	$ (38)	586
Limited Partners [Member]
Consolidated net earnings	$ 426,242	$ 373,765	$ 690,490	391,959
Class A Common [Member]
Beginning balance, Units		8,800			8,800
Conversion of limited partners units, units					8,100	8,400
Ending balance, Units	8,600		8,800		8,600	8,800
Prologis, L.P. [Member]
Beginning balance		$ 25,800,888		18,705,741	$ 25,800,888	$ 18,705,741	18,458,140
Consolidated net earnings					1,701,846	1,822,960	1,760,959
Effect of equity compensation plans					104,709	85,775	115,972
DCT Transaction, net of issuance costs						6,620,721
Capital contributions					11,604	181,866	254,214
Repurchase of preferred units						(22,728)	(13,182)
Purchase of noncontrolling interests					(13,250)		(790,016)
Redemption of noncontrolling interests					(21,093)
Redemption of limited partnership units					(87,340)	(53,192)	(23,831)
Contribution to Brazil venture					(12,630)
Foreign currency translation gains (losses), net					98,482	(190,590)	63,455
Unrealized gains (losses) on derivative contracts, net					(1,335)	(1,323)	22,591
Distributions ($2.12 per common unit for twelve months ended December 31, 2019 , $1.92 per common unit for twelve months ended December 31, 2018, $1.76 per common unit for twelve months ended December 31, 2017 ) and other					(1,510,097)	(1,348,342)	(1,142,561)
Ending balance	$ 26,071,784		$ 25,800,888		26,071,784	25,800,888	18,705,741
Prologis, L.P. [Member] | Noncontrolling Interests [Member]
Beginning balance		2,836,469		2,660,242	2,836,469	2,660,242	3,072,469
Consolidated net earnings					82,222	124,712	63,620
DCT Transaction, net of issuance costs						64,620
Capital contributions					11,604	181,866	254,214
Repurchase of preferred units						(11,471)
Purchase of noncontrolling interests					(15,383)		(587,976)
Redemption of noncontrolling interests					(13,048)
Conversion of limited partners units							(28,973)
Contribution to Brazil venture					(12,630)
Foreign currency translation gains (losses), net					188	(3,416)	49,278
Distributions ($2.12 per common unit for twelve months ended December 31, 2019 , $1.92 per common unit for twelve months ended December 31, 2018, $1.76 per common unit for twelve months ended December 31, 2017 ) and other					(114,028)	(180,084)	(162,390)
Ending balance	2,775,394		2,836,469		2,775,394	2,836,469	2,660,242
Prologis, L.P. [Member] | Preferred [Member] | General Partner
Beginning balance		$ 68,948		$ 68,948	$ 68,948	$ 68,948	$ 78,235
Beginning balance, Units		1,379		1,379	1,379	1,379	1,565
Repurchase of preferred units							$ (9,287)
Redemption of preferred units, units							(186)
Ending balance	$ 68,948		$ 68,948		$ 68,948	$ 68,948	$ 68,948
Ending balance, Units	1,379		1,379		1,379	1,379	1,379
Prologis, L.P. [Member] | Common [Member] | General Partner
Beginning balance		$ 22,229,145		$ 15,562,210	$ 22,229,145	$ 15,562,210	$ 14,912,846
Beginning balance, Units		629,616		532,186	629,616	532,186	528,671
Consolidated net earnings					$ 1,572,959	$ 1,649,361	$ 1,652,325
Effect of equity compensation plans					$ 37,018	$ 33,556	$ 74,526
Effect of equity compensation plans, units					961	1,251	2,000
DCT Transaction, net of issuance costs						$ 6,322,629
DCT Transaction, net of issuance costs, units						96,179
Repurchase of preferred units						$ (11,257)	$ (3,895)
Purchase of noncontrolling interests					$ 2,133		(202,040)
Redemption of noncontrolling interests					(8,045)
Redemption of limited partnership units					$ 40,935
Redemption of limited partners units, units					1,220
Conversion of limited partners units							$ 47,726
Conversion of limited partners units, units							1,515
Foreign currency translation gains (losses), net					$ 95,572	(181,728)	$ 13,810
Unrealized gains (losses) on derivative contracts, net					(1,299)	(1,285)	22,005
Reallocation of capital					(38,561)	(20,849)	(12,143)
Distributions ($2.12 per common unit for twelve months ended December 31, 2019 , $1.92 per common unit for twelve months ended December 31, 2018, $1.76 per common unit for twelve months ended December 31, 2017 ) and other					(1,345,678)	(1,123,492)	(942,950)
Ending balance	$ 22,584,179		$ 22,229,145		$ 22,584,179	$ 22,229,145	$ 15,562,210
Ending balance, Units	631,797		629,616		631,797	629,616	532,186
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Beginning balance		$ 371,281		$ 165,401	$ 371,281	$ 165,401	$ 150,173
Beginning balance, Units		10,516		5,656	10,516	5,656	5,323
Consolidated net earnings					$ 26,211	$ 24,422	$ 18,372
Effect of equity compensation plans					$ 67,691	$ 52,219	$ 41,446
Effect of equity compensation plans, units					1,525	2,087	1,386
DCT Transaction, net of issuance costs						$ 233,472
DCT Transaction, net of issuance costs, units						3,551
Redemption of limited partnership units					$ (120,387)	$ (50,390)	$ (23,831)
Redemption of limited partners units, units					(2,108)	(778)	(369)
Conversion of limited partners units							$ (18,753)
Conversion of limited partners units, units							(684)
Foreign currency translation gains (losses), net					$ 1,502	$ (3,035)	$ 146
Unrealized gains (losses) on derivative contracts, net					(19)	(21)	234
Reallocation of capital					36,603	(28,969)	11,829
Distributions ($2.12 per common unit for twelve months ended December 31, 2019 , $1.92 per common unit for twelve months ended December 31, 2018, $1.76 per common unit for twelve months ended December 31, 2017 ) and other					(27,806)	(21,818)	(14,215)
Ending balance	$ 355,076		$ 371,281		$ 355,076	$ 371,281	$ 165,401
Ending balance, Units	9,933		10,516		9,933	10,516	5,656
Prologis, L.P. [Member] | Class A Common [Member] | Limited Partners [Member]
Beginning balance		$ 295,045		$ 248,940	$ 295,045	$ 248,940	$ 244,417
Beginning balance, Units		8,849		8,894	8,849	8,894	8,894
Consolidated net earnings					$ 20,454	$ 24,465	$ 26,642
Redemption of limited partnership units					$ (7,888)	$ (2,802)
Redemption of limited partners units, units					(236)	(45)
Foreign currency translation gains (losses), net					$ 1,220	$ (2,411)	221
Unrealized gains (losses) on derivative contracts, net					(17)	(17)	352
Reallocation of capital					1,958	49,818	314
Distributions ($2.12 per common unit for twelve months ended December 31, 2019 , $1.92 per common unit for twelve months ended December 31, 2018, $1.76 per common unit for twelve months ended December 31, 2017 ) and other					(22,585)	(22,948)	(23,006)
Ending balance	$ 288,187		$ 295,045		$ 288,187	$ 295,045	$ 248,940
Ending balance, Units	8,613		8,849		8,613	8,849	8,894

Consolidated Statements of Ca_2

Consolidated Statements of Capital (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement Of Partners Capital [Abstract]
Distributions per common unit	$ 2.12	$ 1.92	$ 1.76

Description of the Business

Description of the Business	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Description of the Business	NOTE 1. DESCRIPTION OF THE 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” or “IRC”), 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” or “OP”). Through the OP, we are engaged in the ownership, acquisition, development and management of logistics facilities with a focus on key markets in 19 countries on four continents. We invest in real estate through wholly owned subsidiaries and other entities through which we co-invest with partners and investors. We maintain a significant level of ownership in these co-investment ventures, which may be consolidated or unconsolidated based on our level of control of the entity. 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 unconsolidated co-investment ventures and other ventures. See Note 17 for further discussion of our business segments. Unless otherwise indicated, the Notes to the Consolidated Financial Statements apply to both the Parent and the OP. The terms “the Company,” “Prologis,” “we,” “our” or “us” means the Parent and OP collectively. For each share of preferred or common stock the Parent issues, the OP issues a corresponding preferred or common partnership unit, as applicable, to the Parent in exchange for the contribution of the proceeds from the stock issuance. At December 31, 2019, the Parent owned a 97.23% common general partnership interest in the OP and 100% of the preferred units in the OP. The remaining 2.77% common limited partnership interests, which include 8.6 million Class A common limited partnership units (“Class A Units”) in the OP, are owned by unaffiliated investors and certain current and former directors and officers of the Parent. Each partner’s percentage interest in the OP is determined based on the number of OP units held, including the number of OP units into which Class A Units are convertible, compared to total OP 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 OP 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 OP, the Parent has complete responsibility and discretion in the day-to-day management and control of the OP and we operate the Parent and the OP as one enterprise. The management of the Parent consists of the same members as the management of the OP. These members are officers of the Parent and employees of the OP or one of its subsidiaries. As general partner with control of the OP, the Parent is the primary beneficiary and therefore consolidates the OP. Because the Parent’s only significant asset is its investment in the OP, the assets and liabilities of the Parent and the OP are the same on their respective financial statements. Information with respect to the square footage, number of buildings and acres of land is unaudited.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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. Consolidation. We consolidate all entities that are wholly owned and those in which we own less than 100% of the equity but control, as well as any variable interest entities (“VIEs”) in which we are the primary beneficiary. We evaluate our ability to control an entity and whether the entity is a VIE and we are the primary beneficiary through consideration of substantive terms of the arrangement to identify which enterprise has the power to direct the activities of the entity that most significantly impact the entity’s economic performance and the obligation to absorb losses and the right to receive benefits from the entity. For entities that are not defined as VIEs, we first consider whether we are the general partner or the limited partner (or the equivalent in such investments that are not structured as partnerships). We consolidate entities in which we are the general partner and the limited partners in such entities do not have rights that would preclude control. For entities in which we are the general partner but do not control the entity as the other partners hold substantive participating or kick-out rights, we apply the equity method of accounting since, as the general partner, we have the ability to exercise significant influence over the operating and financial policies of the venture. For ventures for which we are a limited partner, or our investment is in an entity that is not structured similar to a partnership, we consider factors such as ownership interest, voting control, authority to make decisions and contractual and substantive participating rights of the partners. In instances where the factors indicate that we have a controlling financial interest in the venture, we consolidate the entity. Reclassifications. Upon adoption of the new lease standard, as detailed below, rental recoveries for 2017 and 2018 have been reclassified to Rental Revenues in the Consolidated Statements of Income to conform to the 2019 financial statement presentation. Use of Estimates. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. Although we believe the assumptions and estimates we made are reasonable and appropriate, as discussed in the applicable sections throughout the Consolidated Financial Statements, different assumptions and estimates could materially impact our reported results. Foreign Operations. The U.S. dollar is the functional currency for our consolidated subsidiaries and unconsolidated entities operating in the U.S. and Mexico and certain of our consolidated subsidiaries that operate as holding companies for foreign investments. The functional currency for our consolidated subsidiaries and unconsolidated entities operating in other countries is the principal currency in which the entity’s assets, liabilities, income and expenses are denominated, which may be different from the local currency of the country of incorporation or where the entity conducts its operations. The functional currencies of entities outside of the U.S. and Mexico generally include the Brazilian real, British pound sterling, Canadian dollar, Chinese renminbi, euro, Japanese yen, Singapore dollar and Swedish krona. We take part in business transactions denominated in these and other local currencies where we operate. For our consolidated subsidiaries whose functional currency is not the U.S. dollar, we translate their financial statements into the U.S. dollar at the time we consolidate those subsidiaries’ financial statements. Generally, assets and liabilities are translated at the exchange rate in effect at the balance sheet date. The resulting translation adjustments are included in Accumulated Other Comprehensive Income (Loss) AOCI/L We and certain of our consolidated subsidiaries have intercompany and third-party debt that is not denominated in the entity’s functional currency. When the debt is remeasured against the functional currency of the entity, a gain or loss can result. The resulting adjustment is reflected in Foreign Currency and Derivative Gains (Losses), Net AOCI/L Acquisitions. We apply a screen test to evaluate if substantially all the fair value of the acquired property is concentrated in a single identifiable asset or group of similar identifiable assets to determine whether a transaction is accounted for as an asset acquisition or business combination. As most of our real estate acquisitions are concentrated in either a single or a group of similar identifiable assets, our real estate transactions are generally accounted for as asset acquisitions, which permits the capitalization of transaction costs to the basis of the acquired property. We measure the real estate assets acquired through an asset acquisition based on their cost or total consideration exchanged and any excess consideration or bargain purchase amount is allocated to the real estate properties, excluding those identified as held for sale, on a relative fair value basis . Other monetary assets acquired and liabilities assumed, including debt, are recorded at fair value. Purchase price allocations for a business combination are recorded at fair value. When we obtain control of an unconsolidated entity and the acquisition qualifies as a business combination, we account for the acquisition in accordance with the guidance for a business combination achieved in stages. We remeasure our previously held interest in the unconsolidated entity at its acquisition-date fair value and recognize any resulting gain or loss in earnings. We allocate the purchase price using primarily Level 2 and Level 3 inputs (further defined in Fair Value Measurements below) as follows: Investments in Real Estate Properties. We value operating properties as if vacant. We estimate fair value by applying an income approach methodology using either a discounted cash flow analysis or applying a capitalization rate to the estimated Net Operating Income (“NOI”) of a property. Key assumptions include market rents, growth rates, and discount and capitalization rates. Estimates of future cash flows are based on a number of factors including historical operating results, known trends and market and economic conditions. We determine the discount or capitalization rate by market based on recent transactions and other market data. The fair value of land is generally based on relevant market data, such as a comparison of the subject site to similar parcels that have recently been sold or are currently being offered on the market for sale. Lease Intangibles . We determine the portion of the purchase price related to intangible assets and liabilities as follows: • Above and Below Market Leases . We recognize an asset or liability for acquired in-place leases with favorable or unfavorable rents based on our estimate of current market rents of the applicable markets. The value is recorded in either Other Assets or Other Liabilities , as appropriate, and is amortized over the term of the respective leases, including any bargain renewal options, to rental revenues. • Foregone Rent . We calculate the value of the revenue and recovery of costs foregone during a reasonable lease-up period, as if the space was vacant, in each of the applicable markets. The values are recorded in Other Assets and amortized over the remaining life of the respective leases to amortization expense. • Leasing Commissions. We recognize an asset for leasing commissions upon the acquisition of in-place leases based on our estimate of the cost to lease space in the applicable markets. The value is recorded in Other Assets and amortized over the remaining life of the respective leases to amortization expense. Debt . We estimate the fair value of debt based on contractual future cash flows discounted using borrowing spreads and market interest rates that would be available to us for the issuance of debt with similar terms and remaining maturities. In the case of publicly traded debt, we estimate the fair value based on available market data. Any discount or premium to the principal amount is included in the carrying value and amortized to interest expense over the remaining term of the related debt using the effective interest method. Noncontrolling Interests . We estimate the portion of the fair value of the net assets owned by third parties based on the fair value of the consolidated net assets, principally real estate properties and debt. Working Capital . We estimate the fair value of other acquired assets and assumed liabilities on the best information available. Fair Value Measurements. The objective of fair value is to determine the price that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price). We estimate fair value using available market information and valuation methodologies we believe to be appropriate for these purposes. Considerable judgment and a high degree of subjectivity are involved in developing these estimates and, accordingly, they are not necessarily indicative of amounts that we would realize on disposition. The fair value hierarchy consists of three broad levels: • Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date. • Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 — Unobservable inputs for the asset or liability. Fair Value Measurements on a Recurring Basis. We estimate the fair value of our financial instruments using available market information and valuation methodologies we believe to be appropriate for these purposes. We determine the fair value of our derivative financial instruments using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, foreign exchange rates and implied volatilities. We determine the fair values of our interest rate swaps using the market standard methodology of netting the discounted future fixed cash receipts or payments and the discounted expected variable cash payments. We base the variable cash payments on an expectation of future interest rates, or forward curves, derived from observable market interest rate curves. We base the fair values of our net investment hedges on the change in the spot rate at the end of the period as compared with the strike price at inception. We incorporate credit valuation adjustments to appropriately reflect nonperformance risk for us and the respective counterparty in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we consider the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. We have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy. Although the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties, we assess the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivatives. Fair Value Measurements on a Nonrecurring Basis. Assets measured at fair value on a nonrecurring basis generally consist of real estate assets and investments in unconsolidated entities that were subject to impairment charges related to our change of intent to sell the investments and through our recoverability analysis discussed below. We estimate fair value based on expected sales prices in the market (Level 2) or by applying the income approach methodology using a discounted cash flow analysis (Level 3). Fair Value of Financial Instruments. We estimate the fair value of our senior notes for disclosure purposes based on quoted market prices for the same (Level 1) or similar (Level 2) issues when current quoted market prices are available. We estimate the fair value of our credit facilities, term loans, secured mortgage debt and assessment bonds by discounting the future cash flows using rates and borrowing spreads currently available to us (Level 3). Real Estate Assets. Real estate assets are carried at depreciated cost. We capitalize costs incurred in developing, renovating, rehabilitating and improving real estate assets as part of the investment basis. We expense costs for repairs and maintenance as incurred. Depreciation and Amortization. We charge the depreciable portions of real estate assets to depreciation expense on a straight-line basis over the respective estimated useful lives. Depreciation on development buildings commences when the asset is ready for its intended use, which we define as the earlier of stabilization (90% occupied) or one year after completion of construction. We generally use the following useful lives: 5 to 7 years 15 to 25 years amortized over the estimated remaining lease term. Our weighted ave rage lease term on leases commenced during 201 9 , based on square feet for all leases, was 66 months . Capitalization of Costs. During the land development and construction periods of qualifying projects, we capitalize interest costs, insurance, real estate taxes and general and administrative costs of the personnel performing the development, renovation and rehabilitation; if such costs are incremental and identifiable to a specific activity to ready the asset for its intended use. We capitalize transaction costs related to the acquisition of land for future development and operating properties that qualify as asset acquisitions. We capitalize incremental costs incurred to successfully originate a lease that result directly from obtaining a lease and would not have been incurred if the lease had not been obtained. With the adoption of the new lease standard on January 1, 2019, we no longer capitalize internal costs related to our leasing activities. Amounts capitalized prior to adoption were not adjusted and continue to be amortized in accordance with previously applicable guidance. Leasing costs that meet the requirements for capitalization are presented as a component of and all other capitalized costs are included in the investment basis of the real estate assets. Recoverability of Real Estate Assets. We assess the carrying values of our respective real estate assets, whenever events or changes in circumstances indicate that the carrying amounts of these assets may not be fully recoverable. We measure the recoverability of the asset by comparing the carrying amount of the asset to the estimated future undiscounted cash flows. If our analysis indicates that the carrying value of the real estate property is not recoverable on an undiscounted cash flow basis, we recognize an impairment charge for the amount by which the carrying value exceeds the current estimated fair value of the real estate property. We estimate the future undiscounted cash flows and fair value based on our intent as follows: • for real estate properties that we intend to hold long-term; including land held for development, properties currently under development and operating properties; recoverability is assessed based on the estimated undiscounted future net rental income from operating the property and the terminal value, including anticipated costs to develop; • for real estate properties we intend to sell, including properties currently under development and operating properties; recoverability is assessed based on proceeds from disposition that are estimated based on the future net rental income of the property, expected market capitalization rates and anticipated costs to develop; • for land parcels we intend to sell, recoverability is assessed based on the estimated proceeds from disposition; and • for costs incurred related to the potential acquisition of land, operating properties or development of a real estate property, recoverability is assessed based on the probability that the acquisition or development is likely to occur at the measurement date. Assets Held for Sale or Contribution. We classify a property as held for sale or contribution when certain criteria are met in accordance with GAAP. Assets classified as held for sale are expected to be sold to a third party and assets classified as held for contribution are generally newly developed assets we intend to contribute to an unconsolidated co-investment venture within twelve months. When the criteria are met, the respective assets and liabilities are presented separately in the Consolidated Balance Sheets and depreciation is no longer recognized. Assets held for sale or contribution are reported at the lower of their carrying amount or their estimated fair value less the costs to sell. Investments in Unconsolidated Entities. We present our investments in certain entities under the equity method. We use the equity method when we have the ability to exercise significant influence over operating and financial policies of the venture but do not have control of the entity. Under the equity method, we initially recognize these investments (including advances) in the balance sheet at our cost, including formation costs and net of deferred gains from the contribution of properties, if applicable. The transaction costs related to the formation of equity method investments are also capitalized. We subsequently adjust the accounts to reflect our proportionate share of net earnings or losses recognized and accumulated other comprehensive income or loss, distributions received, contributions made and certain other adjustments, as appropriate. When circumstances indicate there may have been a reduction in the value of an equity investment, we evaluate whether the loss in value is other than temporary. If we conclude it is other than temporary, we recognize an impairment charge to reflect the equity investment at fair value. With regard to distributions from unconsolidated entities, we have elected the nature of distribution approach as the information is available to us to determine the nature of the underlying activity that generated the distributions. In accordance with the nature of distribution approach, cash flows generated from the operations of an unconsolidated entity are classified as a return on investment (cash inflow from operating activities) and cash flows that are generated from property sales, debt refinancing or sales and redemptions of our investments are classified as a return of investment (cash inflow from investing activities). Cash and Cash Equivalents. We consider all cash on hand, demand deposits with financial institutions and short-term highly liquid investments with original maturities of three months or less to be cash equivalents. Our cash and cash equivalents are financial instruments that are exposed to concentrations of credit risk. We invest our cash with high-credit quality institutions. Cash balances may be invested in money market accounts that are not insured. We have not realized any losses in such cash investments or accounts and believe that we are not exposed to any significant credit risk. Derivative Financial Instruments. We primarily hedge our foreign currency risk by borrowing in the currencies in which we invest. Generally, we borrow in the functional currency of our consolidated subsidiaries. We may use derivative financial instruments, such as foreign currency forward and option contracts to manage foreign currency exchange rate risk related to both our foreign investments and the related earnings. In addition, we occasionally use interest rate swap and forward contracts to manage interest rate risk and limit the impact of future interest rate changes on earnings and cash flows, primarily with variable-rate debt. We do not use derivative financial instruments for trading or speculative purposes. Each derivative transaction is customized and not exchange-traded. We recognize all derivatives at fair value within the line items Other Assets Other Liabilities Designated Derivatives. We may choose to designate our derivative financial instruments, generally foreign currency forwards as net investment hedges in foreign operations or interest rate swaps or foreign currency forwards as cash flow hedges. At inception of the transaction, we formally designate and document the derivative financial instrument as a hedge of a specific underlying exposure, the risk management objective and the strategy for undertaking the hedge transaction. We formally assess both at inception and at least quarterly thereafter, the effectiveness of our hedging transactions. Due to the high degree of effectiveness between the hedging instruments and the underlying exposures hedged, fluctuations in the value of the derivative financial instruments will generally be offset by changes in the cash flows or fair values of the underlying exposures being hedged. Changes in the fair value of derivatives that are designated and qualify as net investment hedges in foreign operations and cash flow hedges are recorded in AOCI/L AOCI/L Foreign Currency and Derivative Gains (Losses), Net AOCI/ Interest Expense Interest Expense AOCI/L Interest Expense In addition to the net investment hedges described above, we may issue debt in a currency that is not the same functional currency of the borrowing entity to hedge our net investment in international entities. We may designate the debt and related accrued interest as a nonderivative net investment hedge to offset the translation and economic exposures related to these entities. The foreign currency movement on the portion of the debt and accrued interest that is hedged at period end is recognized as cumulative translation adjustment in AOCI/L Foreign Currency and Derivative Gains (Losses), Net. Undesignated Derivatives. We also use derivatives, such as foreign currency forwards and option contracts, that are not designated as hedges to manage foreign currency exchange rate risk related to the translation of our results of operations. The changes in fair values of these derivatives that were not designated or did not qualify as hedging instruments are immediately recognized in earnings within the line item . These gains or losses are generally offset by lower or higher earnings due to the translation at exchange rates that were different than our expectations. In addition, we may choose to not designate our interest rate swap and forward contracts. If a swap or forward contract is not designated as a hedge, the changes in fair value of these instruments is immediately recognized in earnings within the line item Interest Expense . Noncontrolling Interests. Noncontrolling interests represent the share of consolidated entities owned by third parties. We recognize each noncontrolling holder’s respective share of the estimated fair value of the net assets at the date of formation or acquisition. Noncontrolling interests are subsequently adjusted for the noncontrolling holder’s share of additional contributions, distributions and their share of the net earnings or losses of each respective consolidated entity. We allocate net income to noncontrolling interests based on the weighted average ownership interest during the period. The net income that is not attributable to us is reflected in the line item Net Earnings Attributable to Noncontrolling Interests . We do not recognize a gain or loss on transactions with a consolidated entity in which we do not own 100% of the equity, but we reflect the difference in cash received or paid from the noncontrolling interests carrying amount as additional paid-in-capital Certain limited partnership interests, including OP units, are exchangeable into our common stock. Common stock issued upon exchange of a holder’s noncontrolling interest is accounted for at the carrying value of the surrendered limited partnership interest and the difference between the carrying value and the fair value of the common stock issued is recorded to additional paid-in-capital. Revenue Recognition. Rental Revenues and Recoveries. We lease our operating properties to customers under agreements that are classified as operating leases. We recognize the total minimum lease payments provided for under the leases on a straight-line basis over the lease term. Generally, under the terms of our leases, the majority of our rental expenses are recovered from our customers, including common area maintenance, real estate taxes and insurance. Rental expenses recovered through reimbursements received from customers are recognized in in the Consolidated Statements of Income. We record amounts reimbursed by our customers as revenues in the period that the applicable expenses are incurred. As the timing and straight-line pattern of transfer to the lessee for rental revenue and the associated rental recoveries are the same and our leases qualify as operating leases, we account for and present rental revenue and rental recoveries as a single component under . We perform credit analyses of our customers prior to the execution of our leases and continue these analyses on an ongoing basis in order to ensure the collectability of rental revenue. We recognize revenue to the extent that amounts are determined to be collectible. Strategic Capital Revenues. Strategic capital revenues include revenues we earn from the management services we provide to unconsolidated entities. These fees are determined in accordance with the terms specific to each arrangement and may include recurring fees such as property and asset management fees or transactional fees for leasing, acquisition, development, construction, financing, legal and tax services provided. We recognize these fees as we provide the services or on a cost basis for development fees. We may also earn incentive returns (“promotes” or “promote revenues”) based on a venture’s cumulative returns over a certain time-period and the returns are determined by both the operating performance and real estate valuation of the venture, including highly variable inputs such as capitalization rates, market rents, interest rates and foreign currency exchange rates. As these key inputs are highly volatile and out of our control, and such volatility can materially impact our promotes period over period, we recognize promote revenues at or near the end of the performance period. We generally earn promote revenue directly from third-party investors in the co-investment ventures and occasionally from the venture. We include the third-party investors’ share of promotes in Strategic Capital Revenues. We also earn fees from ventures that we consolidate. Upon consolidation, these fees are eliminated from our earnings and the third-party investors’ share of these fees are recognized as a reduction of Net Earnings Attributable to Noncontrolling Interests. Development Management and Other Revenues. Development management and other revenues principally include development and construction management fees recognized as we provide the services or on a cost basis. Gains on Real Estate Transactions, Net. T hroughout the notes to the Consolidated Financial Statements, Gains on Real Estate Transactions, Net Gains on Dispositions of Development Properties and Land, Net Gains on Other Dispositions of Investments in Real Estate, Net We recognize gains on the disposition of real estate when the recognition criteria have been met, generally at the time the risks and rewards and title have transferred, and we no longer have substantial continuing involvement with the real estate sold. We recognize losses from the disposition of real estate when known. Beginning January 1, 2018 with the adoption of the new revenue recognition guidance, we recognize the entire gain attributed to contributions of real estate properties to unconsolidated entities. We previously recognized a gain on contribution only to the extent of the third-party ownership in the unconsolidated entity acquiring the property and deferred the portion of the gain related to our ownership through a reduction to our investment in the applicable unconsolidated entity. We adjusted our proportionate share of net earnings or losses recognized in future periods to reflect the entities’ recorded depreciation expense as if it were computed on our lower basis in the contributed properties rather than on the entity’s basis. Gains on Dispositions of Development Properties and Land, Net. We present gains separately based on the type of real estate sold or contributed. We present gains on sales to third parties or contributions to our unconsolidated entities as when the property was included in our land portfolio or when we developed the property within our development portfolio prior to the sale or contribution. Gains on Other Dispositions of Investments in Real Estate, Net. We present all other gains on sales to third parties or contributions to our unconsolidated entities of non-developed properties (primarily operating properties) and other real estate transactions as . Generally, any operating property that was previously depreciated prior to sale or contribution is presented within this line item. We also include gains or losses on the remeasurement of equity investments to fair value upon acquisition of a controlling interest and the transaction is considered the acquisition of a business and gains or losses upon the partial redemption of our investment in an unconsolidated entity. Rental Expenses. Rental expenses principally include the cost of our property management personnel, utilities, repairs and maintenance, property insurance, real estate taxes and the other costs of managing the properties. Strategic Capital Expenses. Strategic capital expenses generally include the direct expenses associated with the asset management of the co-investment ventures provided by our employees who are assigned to our Strategic Capital segment and the costs of our Prologis Promote Plan based on earned promotes. In addition, in order to achieve efficiencies and economies of scale, all of our property management functions are provided by property management personnel who are assigned to our Real Estate Operations segment. These individuals perform the property-level management of the properties in our owned and managed portfolio, which include properties we consolidate and those we manage that are owned by the unconsolidated co-investment ventures. We allocate the costs of our property management to the properties we consolidate (included in Rental Expenses ) and the properties owned by the unconsolidated co-investment ventures (included in Strategic Capital Expenses ) by using the square feet owned by the respective portfolios. Equity-Based Compensation. We account for equity-based compensation by measuring the cost of employee services received in exchange for an award of an equity instrument based on the fair value of the award on the grant date. We recognize the cost of the award on a straight-line basis over the period during which an employee is required to provide service in exchange for the award, generally the vesting period. Income Taxes. Under the IRC, REITs are generally not required to pay federal income taxes if they distribute 100% of their taxable income and meet certain income, asset and stockholder tests. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes at regular corporate rates and may not be able to qualify as a REIT for the four subsequent taxable years. Even as a REIT, we may be subject to certain foreign, state and local taxes on our own income and property, and to federal income and excise taxes on our undistributed taxabl

DCT Transaction

DCT Transaction	12 Months Ended
	Dec. 31, 2019
Business Combinations [Abstract]
DCT Transaction	NOTE 3. DCT TRANSACTION W e acquired DCT Industrial Trust Inc. and DCT Industrial Operating Partnership LP (collectively “DCT”) on August 22, 2018 (“DCT Transaction”). The DCT Transaction was completed for $8.5 billion through the issuance of equity based on the closing price of Prologis’ common stock on August 21, 2018 and the assumption of debt. In connection with the transaction, each issued and outstanding share or unit held by a DCT stockholder or unitholder was converted automatically into 1.02 shares of Prologis common stock or common units of Prologis, L.P., respectively, including shares and units under DCT’s equity incentive plan that became fully vested at closing. Through the DCT Transaction, we acquired a portfolio of logistics real estate assets that consisted of 408 operating properties, aggregating 68.0 million square feet, 10 properties under development, aggregating 2.8 million square feet and 305 acres of land with build-out potential of 4.5 million square feet. The aggregate equity consideration of approximately $6.6 billion is calculated below (in millions, except price per share): Number of Prologis shares and units issued upon conversion of DCT shares and units at August 21, 2018 99.73 Multiplied by price of Prologis' common stock on August 21, 2018 $ 65.75 Fair value of Prologis shares and units issued $ 6,557 We accounted for the DCT Transaction as an asset acquisition and as a result the transaction costs of $50.0 million were capitalized to the basis of the acquired properties. Transaction costs include investment banker advisory fees, legal fees and other costs. Under acquisition accounting, the total purchase price was allocated to the DCT tangible and identifiable intangible assets acquired and liabilities assumed based on their relative fair values as follows (in millions): Net investments in real estate $ 8,362 Intangible assets, net of intangible liabilities 292 Cash and other assets 24 Debt (1,863 ) Accounts payable, accrued expenses and other liabilities (143 ) Noncontrolling interests (65 ) Total purchase price, including transaction costs $ 6,607

Real Estate

Real Estate	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Real Estate	NOTE 4. REAL ESTATE Investments in real estate properties consisted of the following at December 31 (dollars and square feet in thousands): Square Feet Number of Buildings 2019 2018 (1) 2019 2018 (1) 2019 2018 (1) Operating properties: Buildings and improvements 354,297 354,762 1,876 1,858 $ 23,067,625 $ 22,587,267 Improved land 8,220,208 8,044,888 Development portfolio, including land costs: Prestabilized 9,133 8,709 28 30 784,584 828,064 Properties under development 26,893 27,715 77 70 1,084,683 1,314,737 Land (2) 1,101,646 1,192,220 Other real estate investments (3) 965,668 619,811 Total investments in real estate properties 35,224,414 34,586,987 Less accumulated depreciation 5,437,662 4,656,680 Net investments in real estate properties $ 29,786,752 $ 29,930,307 (1) The portfolio acquired in the DCT Transaction, excluding 49 operating properties classified as Assets Held for Sale or Contribution, (2) At December 31, 2019 and 2018, our land was comprised of 4,411 and 4,929 acres, respectively. (3) Included in other real estate investments were: (i) non-logistics real estate; (ii) land parcels that are ground leased to third parties; (iii) our corporate headquarters; (iv) costs related to future development projects, including purchase options on land; (v) earnest money deposits associated with potential acquisitions; and (vi) infrastructure costs related to projects we are developing on behalf of others. At December 31, 2019, we owned real estate assets in the U.S. and other Americas (Brazil, Canada and Mexico), Europe (Belgium, the Czech Republic, France, Germany, Hungary, Italy, the Netherlands, Poland, Slovakia, Spain, Sweden and the United Kingdom (“U.K.”)) and Asia (China, Japan and Singapore). Acquisitions The following table summarizes our real estate acquisition activity, excluding the DCT Transaction as discussed in Note 3, for the years ended December 31 (dollars and square feet in thousands): 2019 2018 2017 (2) Number of operating properties 22 20 16 Square feet 1,405 4,757 6,859 Acres of land 1,269 1,210 1,392 Acquisition cost of net investments in real estate properties (1) $ 1,074,815 $ 1,008,718 $ 1,139,410 (1) Includes the acquisition cost of properties classified in other real estate investments of $302.9 million, $72.3 million and $50.5 million for the years ended December 31, 2019, 2018 and 2017, respectively. (2) 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 real estate properties that included twelve operating properties, two prestabilized properties and 531 acres of undeveloped land. We accounted for the transaction as a step-acquisition under the business combination rules and recognized a gain. The results of operations for these real estate properties were not significant in 2017. In January 2019, we contributed the majority of these real estate assets into a newly formed joint venture. On February 4, 2020, we completed the acquisition of Liberty Property Trust and Liberty Property Limited Partnership (collectively “Liberty” or the “Liberty Transaction”). The Liberty Transaction was completed for approximately $13 billion through the issuance of equity based on the value of the Prologis common stock issued using the closing price on February 3, 2020 and the assumption of debt . The Liberty portfolio was primarily comprised of logistics real estate assets, including 502 consolidated industrial operating properties , a ggregating 96.4 million square feet, which we re highly complementary to our U.S. portfolio in terms of product quality, location and growth potential in our key markets. For further information on the Liberty Transaction see Note 20. Dispositions The following table summarizes our gains on real estate transactions for the years ended December 31 (dollars and square feet in thousands): 2019 2018 2017 Gains on dispositions of development properties and land, net Contributions to unconsolidated entities Number of properties 26 36 29 Square feet 8,676 12,230 10,049 Net proceeds $ 1,328,858 $ 1,459,963 $ 1,394,403 Gains on contributions, net (1) $ 402,922 $ 422,540 $ 310,869 Dispositions to third parties Number of properties 5 8 6 Square feet 1,351 3,297 2,322 Net proceeds $ 204,197 $ 343,277 $ 290,679 Gains on dispositions, net $ 64,655 $ 47,277 $ 16,659 Total gains on dispositions of development properties and land, net $ 467,577 $ 469,817 $ 327,528 Gains on other dispositions of investments in real estate, net Contributions to unconsolidated entities (2)(3) Number of properties 19 4 193 Square feet 8,212 885 38,122 Net proceeds $ 840,906 $ 51,466 $ 1,807,583 Gains on contributions, net (1) $ 98,062 $ 36,567 $ 536,165 Dispositions to third parties Number of properties 47 70 104 Square feet 7,604 12,150 14,825 Net proceeds (4) $ 651,306 $ 905,210 $ 990,822 Gains on dispositions, net (4) $ 157,157 $ 334,612 $ 258,052 Gains on revaluation of equity investments upon acquisition of a controlling interest $ - $ - $ 61,220 Gains on partial redemptions of investment in an unconsolidated co-investment venture (5) $ 135,022 $ - $ - Total gains on other dispositions of investments in real estate, net $ 390,241 $ 371,179 $ 855,437 (1) Amounts in 2019 and 2018 reflect the adoption of the new revenue recognition standard under which we recognized the entire gain attributed to contributions of real estate properties to unconsolidated entities. Amounts in 2017 reflect our prior recognition of the gain to the extent of the third-party ownership in the unconsolidated entity acquiring the property with the deferral of a portion of the gain related to our ownership. (2) In 2017, we contributed 190 operating properties totaling 37.1 million square feet owned by Prologis North American Industrial Fund ("NAIF") to Prologis Targeted U.S. Logistics Fund ("USLF"), our unconsolidated co-investment venture. In exchange for the contribution, we received cash proceeds and additional units and USLF assumed $956.0 million of secured debt. (3) In 2019, we formed Prologis Brazil Logistics Venture (“PBLV”), a Brazilian unconsolidated co-investment venture, with one partner. We contributed an initial portfolio of real estate properties to PBLV consisting of 14 operating properties totaling 6.9 million square feet and 371 acres of land. We received cash proceeds and units for our 20% equity interest (4) In 2017, we sold our investment in Europe Logistics Venture 1. (5) In 2019, we redeemed a portion of our investment in a European unconsolidated co-investment venture. Leases As a Lessor We lease our operating properties to customers under agreements that are classified as operating leases. We recognize the total minimum lease payments provided for under the leases on a straight-line basis over the lease term. Our weighted average lease term remaining was 50 and 52 months based on square feet for all leases in effect at December 31, 2019 and 2018, respectively. The following table summarizes the minimum lease payments due from our customers on leases with an original lease term greater than one year for space in our operating properties, prestabilized and under development properties, leases of land subject to ground leases and assets held for sale or contribution at December 31 (in thousands): 2019 2018 2020 $ 2,133,581 2019 $ 2,006,475 2021 1,922,139 2020 1,867,253 2022 1,618,649 2021 1,589,102 2023 1,317,729 2022 1,278,281 2024 1,013,632 2023 990,970 Thereafter 3,479,038 Thereafter 3,293,320 Total $ 11,484,768 Total $ 11,025,401 These amounts do not reflect future rental revenue from the renewal or replacement of existing leases and exclude reimbursements of operating expenses and rental increases that are not fixed. As a Lessee We have approximately 130 ground and office space leases in which we are the lessee, which primarily qualify as operating leases, with remaining lease terms of 1 to 90 years at December 31, 2019. The following table summarizes the fixed, future minimum rental payments, excluding variable costs, for which the lease has commenced at December 31 st 2019 2018 2020 $ 43,529 2019 $ 38,769 2021 46,038 2020 38,267 2022 41,624 2021 34,307 2023 39,915 2022 32,312 2024 35,400 2023 30,180 Thereafter 776,205 Thereafter 670,147 Total undiscounted rental payments 982,711 Total undiscounted rental payments $ 843,982 Less imputed interest 511,077 Total lease liabilities $ 471,634 The weighted average remaining lease term for these leases was 33 and 28 years at December 31, 2019 and 2018, respectively. We do not include renewal options in the lease term for calculating the lease liability unless we are reasonably certain we will exercise the option or the lessor has the sole ability to exercise the option. The weighted average incremental borrowing rate was 3.7% at December 31, 2019. We assigned a collateralized interest rate to each lease based on the term of the lease and the currency in which the lease was denominated.

Unconsolidated Entities

Unconsolidated Entities	12 Months Ended
	Dec. 31, 2019
Equity Method Investments And Joint Ventures [Abstract]
Unconsolidated Entities	NOTE 5. 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 we 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 related parties and accounted for using the equity method of accounting. See Note 11 for more detail regarding our consolidated investments that are not wholly owned. We also have investments in other ventures, generally with one partner that we do not manage, which we account for using the equity method. We refer to our investments in both unconsolidated co-investment ventures and other ventures, collectively, as unconsolidated entities. The following table summarizes our investments in and advances to unconsolidated entities at December 31 (in thousands): 2019 2018 Unconsolidated co-investment ventures $ 5,873,784 $ 5,407,838 Other ventures 363,587 337,456 Total $ 6,237,371 $ 5,745,294 Unconsolidated Co-Investment Ventures The following table summarizes our investments in the individual co-investment ventures at December 31 (dollars in thousands): Ownership Percentage Investment in and Advances to Co-Investment Venture 2019 2018 2019 2018 Prologis Targeted U.S. Logistics Fund, L.P. (“USLF”) 27.3 % 27.4 % $ 1,728,043 $ 1,456,427 FIBRA Prologis (1) 47.1 % 46.7 % 517,347 536,377 Prologis European Logistics Partners Sàrl (“PELP”) (2) 50.0 % 50.0 % 1,595,331 1,517,115 Prologis European Logistics Fund (“PELF”) 24.1 % 27.9 % 1,144,831 1,198,904 Prologis UK Logistics Venture (“UKLV”) (2) 15.0 % 15.0 % 59,937 68,002 Nippon Prologis REIT, Inc. (“NPR”) (3) 15.1 % 15.1 % 544,333 472,035 Prologis China Core Logistics Fund, LP (“PCCLF”) (4) 15.6 % - 59,984 - Prologis China Logistics Venture I, LP, II, LP and III, LP (“Prologis China Logistics Venture”) (2)(4) 15.0 % 15.0 % 83,285 141,071 Prologis Brazil Logistics Venture (“PBLV”) and other joint ventures (2)(5) 20.0 % 10.0 % 140,693 17,907 Total $ 5,873,784 $ 5,407,838 (1) At December 31, 2019, we owned 305.8 million units of FIBRA Prologis that had a closing price of Ps 41.07 ($2.18) per unit on the Mexican Stock Exchange. We have granted FIBRA Prologis a right of first refusal with respect to stabilized properties that we plan to sell in Mexico. ( 2 ) We have one partner in each of these co-investment ventures. (3 ) At December 31, 2019, we owned 0.4 million units of NPR that At December 31, 2019 and 2018, we had receivables from NPR of $136.3 million and $122.0 million, respectively, related to customer security deposits that originated through a leasing company owned by us that pertain to properties previously contributed to NPR. We have a corresponding payable to NPR’s customers in Other Liabilities (4) In 2019, we formed PCCLF, an unconsolidated co-investment venture investing in properties in China, with eight partners. At that time, we and our existing partner in Prologis China Logistics Venture I, LP received equity interests in PCCLF for the contribution of the existing portfolio of assets consisting of 79 properties totaling 22 million square feet. The seven new partners contributed cash, which was used to redeem a portion of our existing partner’s investment in PCCLF. We maintained our ownership percentage in these assets subsequent to the contribution and therefore did not recognize a gain. (5) In 2019, we formed PBLV and hold an 20.0% equity ownership in the venture. In the table above, we reflect our ownership in PBLV and exclude our 10.0% ownership in the other joint ventures. See Note 4 for more information on PBLV. The amounts recognized in Strategic Capital Revenues Earnings from Unconsolidated Entities, Net Strategic Capital Expenses The following table summarizes the Strategic Capital Revenues 2019 2018 2017 Recurring fees $ 266,615 $ 230,746 $ 195,513 Transactional fees 57,334 55,816 48,225 Promote revenue (1) 165,635 116,290 127,519 Total strategic capital revenues from unconsolidated co-investment ventures (2) $ 489,584 $ 402,852 $ 371,257 (1) Includes promote revenue earned from unconsolidated co-investment venture s principally in Europe i n 2019, China and Europe in 2018 and the U.S. in 2017 . (2) These amounts exclude strategic capital revenues from other ventures. The following table summarizes the key property information, financial position and operating information of our unconsolidated co-investment ventures (not our proportionate share) and the amounts we recognized in the Consolidated Financial Statements related to our unconsolidated co-investment ventures at December 31 and for the years ended December 31 (dollars and square feet in millions): U.S. Other Americas Europe Asia Total As of: 2019 2018 2019 (1) 2018 2019 2018 2019 (2) 2018 2019 2018 Key property information: Ventures 1 1 2 2 3 3 3 2 9 8 Operating properties 605 566 214 209 731 669 144 125 1,694 1,569 Square feet 99 91 44 39 176 159 59 51 378 340 Financial position: Total assets ($) 8,408 7,303 2,707 2,137 14,677 13,028 8,758 7,089 34,550 29,557 Third-party debt ($) 2,130 2,094 769 838 3,213 2,548 3,296 2,668 9,408 8,148 Total liabilities ($) 2,514 2,350 801 862 4,575 3,615 3,751 3,006 11,641 9,833 Our investment balance ($) (3) 1,728 1,457 658 554 2,800 2,784 688 613 5,874 5,408 Our weighted average ownership (4) 27.3 % 27.4 % 39.1 % 44.4 % 30.2 % 33.2 % 15.1 % 15.1 % 27.1 % 28.3 % U.S. Other Americas Europe Asia Total Operating Information: 2019 2018 2017 2019 (1) 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 For the years ended: Total revenues ($) 738 676 533 266 217 245 1,099 1,101 1,030 514 457 372 2,617 2,451 2,180 Net earnings ($) 128 150 139 91 63 71 311 509 406 49 88 182 579 810 798 Our earnings from unconsolidated co-investment ventures, net ($) 38 45 33 32 26 26 102 193 146 10 15 29 182 279 234 ( 1 ) PBLV and our other Brazilian joint ventures are combined as one venture for the purpose of this table. ( 2 ) As discussed above, the formation of PCCLF in 2019 increased the number of ventures in Asia. ( 3 ) Prologis’ investment balance is presented at our adjusted basis derived from the ventures’ U.S. GAAP information. The difference between our ownership interest of a venture’s equity and our investment balance at December 31, 2019 and 2018, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018 ($611.5 million and $635.9 million, respectively); (ii) recording additional costs associated with our investment in the venture ($87.2 million and $94.4 million, respectively); (iii) receivables, principally for fees and promotes ($152.0 million and $166.7 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to NPR, as discussed above. For deferred gains from partial sales recorded prior to January 1, 2018, we recognize these gains over the lives of the underlying real estate properties or at the time of disposition to a third party. ( 4 ) Represents our weighted average ownership interest in all unconsolidated co-investment ventures based on each entity’s contribution of total assets before depreciation, net of other liabilities. In January 2020, USLF acquired a portfolio of 108 operating properties aggregating 18.3 million square feet from Industrial Property Trust Inc. (“IPT”) in a cash transaction, including the assumption of debt. Our investment in the acquisition was approximately $500 million. Equity Commitments Related to Certain Unconsolidated Co-Investment Ventures Certain unconsolidated co-investment ventures have equity commitments from us and our venture partners. Our venture partners fulfill their equity commitment with cash. We may fulfill our equity commitment through contributions of properties or cash. The equity contributions are generally used for the acquisition or development of properties but may be used for the repayment of debt or other general uses. The venture may obtain financing for the acquisition of properties and therefore the acquisition price of additional investments that the venture could make may be more than the equity commitment. Depending on market conditions, the investment objectives of the ventures, our liquidity needs and other factors, we may make additional contributions of properties or additional cash investments in these ventures through the remaining commitment period. At December 31, 2019, our remaining equity commitments were $379.6 million, primarily for Prologis China Logistics Venture.

Assets Held for Sale or Contrib

Assets Held for Sale or Contribution	12 Months Ended
	Dec. 31, 2019
Real Estate Assets Held For Development And Sale [Abstract]
Assets Held for Sale or Contribution	NOTE 6. ASSETS HELD FOR SALE OR CONTRIBUTION We had investments in certain real estate properties that met the criteria to be classified as held for sale or contribution at December 31, 2019 and 2018. At the time of classification, these properties were expected to be sold to third parties or were recently stabilized and expected to be 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 at December 31 (dollars and square feet in thousands): 2019 2018 Number of operating properties 28 57 Square feet 9,371 8,236 Total assets held for sale or contribution $ 720,685 $ 622,288 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 41,994 $ 12,972

Other Assets and Other Liabilit

Other Assets and Other Liabilities	12 Months Ended
	Dec. 31, 2019
Text Block [Abstract]
Other Assets and Other Liabilities	NOTE 7. OTHER ASSETS AND OTHER LIABILITIES The following table summarizes our other assets, net of amortization and depreciation, if applicable, at December 31 (in thousands): 2019 2018 Rent leveling $ 404,516 $ 346,116 Leasing commissions 381,013 346,852 Acquired lease intangibles 314,179 450,690 Value added taxes receivable 120,923 97,047 Prepaid assets 109,676 108,581 Fixed assets 107,468 112,211 Accounts receivable 85,835 107,141 Other notes receivable 35,308 35,338 Management contracts 14,888 16,257 Derivative assets 13,266 22,731 Deferred income taxes 4,595 8,767 Other 120,190 124,188 Total $ 1,711,857 $ 1,775,919 The following table summarizes our other liabilities, net of amortization, if applicable, at December 31 (in thousands): 2019 2018 Tenant security deposits $ 269,841 $ 240,467 Unearned rents 106,152 86,083 Income tax liabilities 65,652 59,766 Environmental liabilities 63,577 88,863 Acquired lease intangibles 58,525 76,087 Liabilities associated with assets held for sale or contribution 41,994 12,972 Indemnification liability 39,830 36,476 Derivative liabilities 23,851 8,159 Deferred income 11,971 10,088 Value added taxes payable 10,036 11,037 Other 186,172 136,448 Total $ 877,601 $ 766,446 The following table summarizes the expected future amortization of leasing commissions and forgone rent (included in acquired lease intangibles) into amortization expense and above and below market leases (included in acquired lease intangibles) and rent leveling net assets into rental revenues, all based on the balances at December 31, 2019 (in thousands): Amortization Expense Net Decrease (Increase) to Rental Revenues 2020 $ 170,807 $ (16,377 ) 2021 134,137 20,076 2022 104,372 41,895 2023 79,452 49,773 2024 56,699 46,305 Thereafter 125,877 228,167 Total $ 671,344 $ 369,839

Debt

Debt	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt	NOTE 8. DEBT All debt is incurred by the OP or its consolidated subsidiaries. The following table summarizes our debt at December 31 (dollars in thousands): 2019 2018 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding (2) Credit facilities 0.4 % $ 184,255 3.4 % $ 50,500 Senior notes (3) 2.4 % 9,660,570 2.7 % 8,304,147 Term loans and unsecured other 0.9 % 1,441,882 1.8 % 1,921,428 Secured mortgage (4) 3.4 % 619,170 5.1 % 813,740 Total 2.2 % $ 11,905,877 2.7 % $ 11,089,815 (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) We borrow in the functional currencies of the countries where we invest. Included in the outstanding balances at December 31 were borrowings denominated in the following currencies: 2019 2018 Amount Outstanding % of Total Amount Outstanding % of Total British pound sterling $ 656,549 5.5 % $ 635,972 5.8 % Canadian dollar 279,730 2.3 % 266,337 2.4 % Euro 6,128,986 51.5 % 4,893,693 44.1 % Japanese yen 2,329,381 19.6 % 1,951,844 17.6 % U.S. dollar 2,511,231 21.1 % 3,341,969 30.1 % Total $ 11,905,877 $ 11,089,815 (3) Senior notes are due from January 2020 to September 2049 with effective interest rates ranging from -0.1% to 4.5% at December 31, 2019. The senior notes of €400 million ($445.9 million) bearing a floating rate of Euribor plus 0.3% (4) Secured mortgage debt is due from April 2020 to November 2027 with effective interest rates ranging from 0.2% to 7.8% at December 31, 2019. The debt was principally secured by 87 operating properties, one prestabilized property and one property under development with an aggregate undepreciated cost of $1.7 billion at December 31, 2019. Credit Facilities In 2019, we recast our global senior credit facility (the “Global Facility”), under which we may draw in British pounds sterling, Canadian dollars, euro, Japanese yen, Mexican pesos and U.S. dollars on a revolving basis up to $3.5 billion (subject to currency fluctuations). Pricing under the Global Facility, including the spread over LIBOR, facility fees and letter of credit fees, varies primarily based on the public debt ratings of the OP. The Global Facility is scheduled to mature in January 2023; 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 have the ability to increase the Global Facility to $4.5 billion, subject to currency fluctuations and obtaining additional lender commitments. We also have a Japanese yen revolver (the “Revolver”) with availability of ¥50.0 billion ($460.6 million at December 31, 2019). We have the ability to increase the Revolver to ¥65.0 billion ($598.8 million at December 31, 2019), 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 OP. 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 (dollars in millions): 2019 2018 2017 For the years ended December 31: Weighted average daily interest rate 1.5 % 3.1 % 1.3 % Weighted average daily borrowings $ 85 $ 253 $ 111 Maximum borrowings outstanding at any month-end $ 257 $ 485 $ 317 At December 31: Aggregate lender commitments $ 3,946 $ 3,470 $ 3,490 Less: Borrowings outstanding 184 51 317 Outstanding letters of credit 36 31 33 Current availability $ 3,726 $ 3,388 $ 3,140 Senior Notes The senior notes are unsecured and our obligations are effectively subordinated in certain respects to any of our debt that is secured by a lien on real property, to the extent of the value of such real property. The senior notes require interest payments be made quarterly, semi-annually or annually. The majority of the senior notes are redeemable at any time at our option, subject to certain prepayment penalties. Such repurchase and other terms are governed by the provisions of indenture agreements, various note purchase agreements or trust deeds. The following table summarizes the issuances of senior notes during 2019 (principal in thousands): Initial Borrowing Date Principal (1) Stated Interest Rate Maturity Date Borrowing Currency USD March ¥ 10,000,000 $ 90,531 1.2% March 2039 September € 1,800,000 $ 1,987,200 0.3% – 1.5% September 2027 – 2049 (1) The exchange rate used to calculate into U.S. dollars was the spot rate at the settlement date. Term Loans The following table summarizes our outstanding term loans at December 31 (dollars and borrowing currency in thousands): Term Loan Borrowing Currency Initial Borrowing Date Lender Commitment at 2019 Amount Outstanding at 2019 Amount Outstanding at 2018 Interest Rate Maturity Date Borrowing Currency USD USD USD 2017 Term Loan (1) USD, EUR, JPY and GBP June 2014 $ 500,000 $ 500,000 $ - $ 500,000 LIBOR + 0.9% May 2020 2015 Canadian Term Loan CAD December 2015 $ 170,506 $ 131,214 131,214 125,107 CDOR + 0.9% February 2023 2016 Yen Term Loan (2) JPY August 2016 - - - 909,813 Yen LIBOR + 0.7% August 2022 – 2023 March 2017 Yen Term Loan JPY March 2017 ¥ 12,000,000 $ 110,553 110,553 109,178 0.9% and 1.0% March 2027 – 2028 October 2017 Yen Term Loan JPY October 2017 ¥ 10,000,000 $ 92,127 92,127 90,981 0.9% October 2032 December 2018 Yen Term Loan JPY December 2018 ¥ 20,000,000 $ 184,254 184,254 181,963 1.2% and Yen LIBOR + 0.7% December 2031 – June 2033 January 2019 Yen Term Loan JPY January 2019 ¥ 15,000,000 $ 138,191 138,191 - Yen LIBOR + 0.5% to 0.6% January 2028 – 2030 March 2019 Yen Term Loan (2) JPY March 2019 ¥ 85,000,000 $ 783,082 783,082 - Yen LIBOR + 0.4% March 2026 Subtotal 1,439,421 1,917,042 Debt issuance costs, net (8,484 ) (8,230 ) Total term loans $ 1,430,937 $ 1,908,812 (1) We may increase the borrowings on the 2017 Term Loan up to $1.0 billion, subject to obtaining additional lender commitments. We paid down $1.3 billion and $2.0 billion and reborrowed $777.2 million and $2.0 billion in 2019 and 2018, respectively. We may extend the maturity date twice, by one year each, subject to the satisfaction of certain conditions and the payment of an extension fee. (2) During 2019, we repaid the outstanding balance of ¥ 100.0 billion ($ 897.4 million) on our 2016 Yen Term Loan, primarily with the proceeds from the March 2019 Yen Term Loan . We have the ability to increase the March 2019 Yen Term Loan to ¥ 120.0 billion ($ 1.1 billion at December 31, 2019), subject to obtaining additional lender commitments. Long-Term Debt Maturities Scheduled principal payments due on our debt for each year through the period ended December 31, 2024, and thereafter were as follows at December 31, 2019 (in thousands): Unsecured Credit Senior Term Loans Secured Maturity Facilities Notes and Other Mortgage Total 2020 (1) $ - $ 449,360 $ 10,945 $ 75,448 $ 535,753 2021 (2) 184,255 786,380 - 95,646 1,066,281 2022 - 786,380 - 12,007 798,387 2023 - 850,000 131,214 33,981 1,015,195 2024 - 786,380 - 262,375 1,048,755 Thereafter - 6,080,150 1,308,207 141,989 7,530,346 Subtotal 184,255 9,738,650 1,450,366 621,446 11,994,717 Premiums (discounts), net - (46,568 ) - 498 (46,070 ) Debt issuance costs, net - (31,512 ) (8,484 ) (2,774 ) (42,770 ) Total $ 184,255 $ 9,660,570 $ 1,441,882 $ 619,170 $ 11,905,877 (1) As discussed above, in January 2020 we redeemed €400 million ($445.9 million) of senior notes. (2) Included in the 2021 maturities was the Revolver that can be extended until 2022. Interest Expense The following table summarizes the components of interest expense for the years ended December 31 (in thousands): 2019 2018 2017 Gross interest expense $ 271,451 $ 268,942 $ 328,228 Amortization of debt discounts (premiums), net 3,713 (590 ) (13,728 ) Amortization of debt issuance costs, net 13,293 13,243 14,479 Interest expense before capitalization $ 288,457 $ 281,595 $ 328,979 Capitalized amounts (48,504 ) (52,454 ) (54,493 ) Net interest expense $ 239,953 $ 229,141 $ 274,486 Total cash paid for interest, net of receipts and amounts capitalized $ 214,375 $ 205,485 $ 278,313 Early Extinguishment of Debt Over the last three years, we repurchased or repaid certain debt before the maturity date in an effort to reduce our borrowing costs and extend our debt maturities. As a result, the difference between the recorded debt (including premiums, discounts and related debt issuance costs) and the consideration we paid to retire the debt, including fees, was recognized as gains or losses. Fees associated with the restructuring of debt that meets the modification criteria, along with existing unamortized premium or discount and debt issuance costs, are amortized over the term of the new debt . The following table summarizes the activity related to the repurchase of debt and the net loss on early extinguishment of debt for 2019 and 2017 (in millions): 2019 2017 Senior notes: Original principal amount $ 656.3 $ 1,495.3 Cash purchase price $ 669.1 $ 1,566.5 Secured mortgage debt: Original principal amount $ 432.8 $ 538.3 Cash repayment price $ 432.9 $ 538.3 Total: Original principal amount $ 1,089.1 $ 2,033.6 Cash purchase/repayment price $ 1,102.0 $ 2,104.8 Losses on early extinguishment of debt $ 16.1 $ 68.4 In 2018, we recognized $2.6 million in losses primarily due to the extinguishment of $1.8 billion of debt assumed in the DCT Transaction. The loss associated with the DCT Transaction represented the excess of the prepayment penalties of $48.7 million over the $46.5 million premium recorded upon the assumption of the debt. Financial Debt Covenants We have $9.7 billion of senior notes and $1.4 billion of term loans outstanding at December 31, 2019 that were subject to certain financial covenants under their related indentures. We are also subject to financial covenants under our Credit Facilities and certain secured mortgage debt. At December 31, 2019, we were in compliance with all of our financial debt covenants. Guarantee of Finance Subsidiary Debt In 2018, we formed finance subsidiaries as part of our operations in Europe (Prologis Euro Finance LLC), Japan (Prologis Yen Finance LLC) and the U.K. (Prologis Sterling Finance LLC). These entities are 100% indirectly owned by the OP and all unsecured debt issued or to be issued by each entity is or will be fully and unconditionally guaranteed by the OP. There are no restrictions or limits on the OP’s ability to obtain funds from its subsidiaries by dividend or loan. In reliance on Rule 3-10 of Regulation S-X, the separate financial statements of Prologis Euro Finance LLC, Prologis Yen Finance LLC and Prologis Sterling Finance LLC are not provided.

Stockholders' Equity of Prologi

Stockholders' Equity of Prologis, Inc.	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Stockholders' Equity of Prologis, Inc.	NOTE 9. STOCKHOLDERS’ EQUITY OF PROLOGIS, INC. Shares Authorized At December 31, 2019, 1.1 billion shares were authorized to be issued by the Parent, of which 1.0 billion shares represent common stock. Our board of directors (the “Board”) may, without stockholder approval, classify or reclassify any unissued shares of our stock from time to time by setting or changing the preferences, conversion or other rights, voting powers, restrictions, limitations as to distributions, qualifications and terms or conditions of redemption of such shares. Common Stock On August 22, 2018, we issued 96.2 million common shares in the DCT Transaction. See Note 3 for more detail on the transaction. We did not issue any shares of common stock under our at-the-market program during 2019, 2018 and 2017. We have an equity distribution agreement that allows us to sell up to $750 million aggregate gross sales proceeds of shares of common stock, of which $535.2 million remains available for sale through six designated agents. These agents earn a fee of up to 2% of the gross proceeds as agreed to on a transaction-by-transaction basis. Under the 2012 Long-Term Incentive Plan, certain of our employees and outside directors are able to participate in equity-based compensation plans. See Note 12 for additional information on equity-based compensation plans. Preferred Stock At December 31, 2019 and 2018 our Series Q preferred stock outstanding had a dividend rate of 8.54% and will be redeemable at our option on or after November 13, 2026. Holders have, subject to certain conditions, limited voting rights and all holders are entitled to receive cumulative preferential dividends based on liquidation preference. The dividends are payable quarterly when, and if, they have been declared by the Board, out of funds legally available for the payment of dividends. Ownership Restrictions For us to qualify as a REIT, five or fewer individuals may not own more than 50% of the value of our outstanding stock at any time during the last half of our taxable year. Therefore, our charter restricts beneficial ownership (or ownership generally attributed to a person under the REIT rules), by a person, or persons acting as a group, of issued and outstanding common and preferred stock that would cause that person to own or be deemed to own more than 9.8% (by value or number of shares, whichever is more restrictive) of our issued and outstanding capital stock. Furthermore, subject to certain exceptions, no person shall at any time directly or indirectly acquire ownership of more than 25% of any of the preferred stock. These provisions assist us in protecting and preserving our REIT status and protect the interests of stockholders in takeover transactions by preventing the acquisition of a substantial block of outstanding shares of stock. Shares of stock owned by a person or group of people in excess of these limits are subject to redemption by us. The provision does not apply where a majority of the Board, in its sole and absolute discretion, waives such limit after determining that our status as a REIT for federal income tax purposes will not be jeopardized. Dividends To comply with the REIT requirements of the IRC, we are generally required to make common and preferred stock dividends (other than capital gain distributions) to our stockholders in amounts that together at least equal (i) the sum of (a) 90% of our “REIT taxable income” computed without regard to the dividends paid deduction and net capital gains and (b) 90% of the net income (after tax), if any, from foreclosure property, minus (ii) certain excess noncash income. Our common stock distribution policy is to distribute a percentage of our cash flow that ensures that we will meet the distribution requirements of the IRC and that allows us to also retain cash to meet other needs, such as capital improvements and other investment activities. Our tax return for the year ended December 31, 2019 has not been filed. The taxability information presented for our dividends paid in 2019 is based on management’s estimate. Our tax returns for open tax years have not been examined by the Internal Revenue Service, other than those discussed in Note 13. Consequently, the taxability of dividends is subject to change. In 2019, 2018 and 2017, we paid all of our dividends in cash. The following summarizes the taxability of our common and preferred stock dividends for the years ended December 31: 2019 (1) 2018 2017 Common Stock: Ordinary income $ 2.08 $ 1.34 $ 1.23 Qualified dividend 0.00 0.03 0.01 Capital gains 0.04 0.55 0.52 Total distribution $ 2.12 $ 1.92 $ 1.76 Preferred Stock – Series Q: Ordinary income $ 4.00 $ 2.98 $ 2.91 Qualified dividend 0.01 0.06 0.08 Capital gains 0.26 1.23 1.28 Total dividend $ 4.27 $ 4.27 $ 4.27 (1) Taxability for 2019 is estimated. Common stock dividends are characterized for federal income tax purposes as ordinary income, qualified dividend, capital gains, non-taxable return of capital or a combination of the four. Common stock dividends that exceed our current and accumulated earnings and profits (calculated for tax purposes) constitute a return of capital rather than a dividend and generally reduce the stockholder’s basis in the common stock. To the extent that a dividend exceeds both current and accumulated earnings and profits and the stockholder’s basis in the common stock, it will generally be treated as a gain from the sale or exchange of that stockholder’s common stock. At the beginning of each year, we notify our stockholders of the taxability of the common stock dividends paid during the preceding year. Pursuant to the terms of our preferred stock, we are restricted from declaring or paying any dividend with respect to our common stock unless and until all cumulative dividends with respect to the preferred stock have been paid and sufficient funds have been set aside for dividends that have been declared for the relevant dividend period with respect to the preferred stock.

Partners' Capital of Prologis,

Partners' Capital of Prologis, L.P.	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Partners' Capital of Prologis, L.P.	NOTE 10. PARTNERS’ CAPITAL OF PROLOGIS, L.P. Distributions paid on the common limited partnership units, and the taxability of those distributions, are similar to dividends paid on the Parent’s common stock disclosed above. On August 22, 2018, we issued 3.6 million common limited partnership units in the OP in the DCT Transaction. See Note 3 for more detail on the transaction. We issued Class A Units in the OP through an acquisition of a portfolio of properties in 2015. The Class A Units generally have the same rights as the existing common limited partnership units of the OP, except that the Class A Units are entitled to a quarterly distribution equal to $0.64665 per unit so long as the common limited partnership units receive a quarterly distribution of at least $0.40 per unit (in the event the common limited partnership units receive a quarterly distribution of less than $0.40 per unit, the Class A Unit distribution would be reduced by a proportionate amount). Class A Units are convertible into common limited partnership units at an initial conversion rate of one-for-one. The conversion rate will be increased or decreased to the extent that, at the time of conversion, the net present value of the distributions paid with respect to the Class A Units are less or more than the distributions paid on common limited partnership units from the time of issuance of the Class A Units until the time of conversion. At December 31, 2019 and 2018, the Class A Units were convertible into 8.1 million and 8.4 million common limited partnership units, respectively. The OP may redeem the Class A Units at any time after October 7, 2025, for an amount in cash equal to the then-current number of the common limited partnership units into which the Class A Units are convertible, multiplied by $43.11, subject to the holders’ right to convert the Class A Units into common limited partnership units. Dividends paid to the Class A Units were $2.58660 annually during the years ended December 31, 2019, 2018 and 2017.

Noncontrolling Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2019
Noncontrolling Interest [Abstract]
Noncontrolling Interests	NOTE 11. 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, into shares of the Parent’s common stock, generally at a rate of one share of common stock to one limited partnership unit. We also consolidate certain entities in which we do not own 100% of the equity but the equity of these entities is not exchangeable into our common stock. As discussed in Note 1, the Parent has complete responsibility, power and discretion in the day-to-day management of the OP. The Parent, through its majority interest, has the right to receive benefits from and incur losses of the OP. In addition, the OP does not have either substantive liquidation rights or substantive kick-out rights without cause or substantive participating rights that could be exercised by a simple majority of noncontrolling interests. The absence of such rights renders the OP as a VIE. Accordingly, the Parent is the primary beneficiary and therefore consolidates the OP. Prologis, Inc. The noncontrolling interests of the Parent include the noncontrolling interests described above for the OP, as well as the limited partnership units in the OP that are not owned by the Parent. The outstanding limited partnership units receive quarterly cash distributions equal to the quarterly dividends paid on our common stock pursuant to the terms of the applicable partnership agreements. The following table summarizes our ownership percentages and noncontrolling interests and the consolidated entities’ total assets and total liabilities at December 31 (dollars in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities 2019 2018 2019 2018 2019 2018 2019 2018 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 2,677,846 $ 2,697,095 $ 6,077,016 $ 6,072,087 $ 99,397 $ 92,782 Other consolidated entities (1) various various 97,548 139,374 849,620 1,045,202 85,186 53,145 Prologis, L.P. 2,775,394 2,836,469 6,926,636 7,117,289 184,583 145,927 Limited partners in Prologis, L.P. (2)(3) 643,263 666,326 - - - - Prologis, Inc. $ 3,418,657 $ 3,502,795 $ 6,926,636 $ 7,117,289 $ 184,583 $ 145,927 ( 1 ) Includes our two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. The limited partnership units outstanding at December 31, 2019 and 2018 were exchangeable into cash or, at our option, 0.3 million and 0.7 million shares of the Parent’s common stock, respectively. ( 2 ) We had 8.6 million and 8.8 million Class A Units that were convertible into 8.1 million and 8.4 million limited partnership units of the OP at December 31, 2019 and 2018, respectively. See Note 10 for further discussion of our Class A Units. ( 3 ) At December 31, 2019 and 2018, excluding the Class A Units, there were limited partnership units in the OP that were exchangeable into cash or, at our option, 6.2 million and 7.2 million shares of the Parent’s common stock, respectively. Also included are the vested OP Long-Term Incentive Plan Units associated with our long-term compensation plans. See further discussion of Long-Term Incentive Plan Units in Note 12. In January 2020, USLV acquired a portfolio of 127 operating properties aggregating 19.0 million square feet from IPT in a cash transaction, including the assumption of debt. Our investment in the acquisition was approximately $1.1 billion.

Long-Term Compensation

Long-Term Compensation	12 Months Ended
	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Long-Term Compensation	NOTE 12. LONG-TERM COMPENSATION The 2012 Long-Term Incentive Plan (“2012 LTIP”) provides for grants of awards to officers, directors, employees and consultants of the Parent or its subsidiaries. Awards can be in the form of: full value awards, stock appreciation rights, stock options (non-qualified options and incentive stock options) and cash incentive awards. Full value awards generally consist of: (i) common stock; (ii) restricted stock units (“RSUs”); (iii) OP LTIP units (“LTIP Units”) and (iv) Prologis Outperformance Plan (“POP”) OP LTIP units (“POP LTIP Units”). The awards under the 2012 LTIP have been issued under the following components of our equity-based compensation plans and programs at December 31, 2019: (i) POP; (ii) Prologis Promote Plan (“PPP”); (iii) annual long-term incentive (“LTI”) equity award program (“Annual LTI Award”); and (iv) annual bonus exchange program. Under all of these components, certain employees may elect to receive their equity award payout either in the form of RSUs or other equity of the Parent or LTIP Units of the OP. No participant can be granted more than 1.5 million shares of common stock under the 2012 LTIP in any one calendar year. Awards may be made under the 2012 LTIP until it is terminated by the Board or until the ten-year anniversary of the effective date of the plan. We have 27.2 million shares reserved for issuance, of which 14.9 million shares of common stock were available for future issuance at December 31, 2019. Each LTIP Unit counts as one share of common stock for purposes of calculating the limit on shares that may be issued. Equity-Based Compensation Plans and Programs Prologis Outperformance Plan (“POP”) We allocate participation points or a percentage of the compensation pool to participants under our POP corresponding to three-year For the 2016 – 2018 and 2017 – 2019 performance periods, awards (“Initial Awards”), equaling in aggregate up to $75 million of the applicable compensation pool, were earned after the end of the initial three-year performance period as the Outperformance Hurdle was met. One-third of any compensation pool amount in excess of $75 million (up to 0.5% of our equity market capitalization) can be earned at the end of each of the three years after the Initial Awards are earned, if our performance meets or exceeds the Index at the end of each of such three years. In addition, participants will not be able to sell or transfer any equity they receive as awards until three years after the end of the initial performance period Beginning with the 2018 – 2020 performance period and performance periods thereafter, the plan requires an absolute maximum cap of $100 million on the compensation pool. If an award is earned at the end of the initial three-year seven-year three-year Each participant is eligible to receive a percentage of the total compensation pool based on the number of participation points allocated to the participant, or in the case of our NEOs, a set percentage of the compensation pool. If the performance criteria are met, the participants’ points or compensation pool percentage will be paid in the form of common stock or POP LTIP Units, as elected by the participant. Annually, a participant may exchange their participation points or compensation pool percentage for POP LTIP Units. If the performance criteria are not met, the participants’ points, compensation pool percentage and POP LTIP Units will be forfeited. At December 31, 2019, all awards were equity classified. We use a Monte Carlo valuation model to value the participation points allocated under the POP. The following table details the assumptions used for each grant based on the year it was granted (dollars in thousands): 2019 2018 2017 Risk free interest rate 2.6 % 2.1 % 1.5 % Expected volatility 20.0 % 16.5 % 22.2 % Aggregate fair value $ 21,200 $ 23,300 $ 20,400 Total remaining compensation cost related to the POP at December 31, 2019, was $39.6 million, prior to adjustments for capitalized amounts due to our development activities. The remaining compensation cost will be recognized through 2028, with a weighted average period of 3.2 years. The performance criteria were met for the 2017 – 2019, 2016 – 2018 and 2015 – 2017 performance periods at the end of the initial three-year 2017 – 2019 2016 – 2018 (1) 2015 – 2017 Performance pool $ 75,000 $ 88,317 $ 110,230 Common stock shares 266 423 582 POP LTIP Units and LTIP Units 548 924 1,170 Average price used to determine number of awards $ 92.21 $ 65.57 $ 62.65 (1) The 2016 – 2018 performance period includes amounts and awards earned at December 31, 2019 related to the compensation pool in the excess of the Initial Award. Other Equity-Based Compensation Plans and Programs Awards may be issued in the form of RSUs or LTIP Units at the participants’ elections under the following equity-based compensation plans and programs. RSUs and LTIP Units are valued based on the market price of the Parent’s common stock on the date the award is granted and the grant date value is charged to compensation expense over the service period. Beginning with the February 2018 grants, the service period was lengthened from three to four years, except for awards under the annual bonus exchange program. Dividends and distributions are paid with respect to both RSUs and LTIP Units during the vesting period, and therefore they are considered participating securities. We do not allocate undistributed earnings to participating securities as our net earnings per share or unit would not be materially different. The value of the dividend is charged to retained earnings for RSUs and the distribution is charged to Net Income Attributable to Noncontrolling Interests Prologis Promote Plan (“PPP”) Under the PPP, we establish a compensation pool for certain employees up to 40% of the third-party portion of promotes earned by Prologis from the co-investment ventures. The awards may be settled in some combination of cash and full value awards, at our election. Annual LTI Equity Award Program (“Annual LTI Award”) The Annual LTI Award provides for grants to certain employees subject to our performance against benchmark indices that relate to the most recent year’s performance. Annual Bonus Exchange Program Under our bonus exchange program, generally all our employees may elect to receive all or a portion of their annual cash bonus in equity. Equity awards granted through the bonus exchange are generally valued at a premium to the cash bonus exchanged and vest over three years, excluding the NEOs. As our NEOs do not receive a bonus exchange premium for participating in the bonus exchange program, the equity they receive upon exchange for their cash bonuses does not have a vesting period. Summary of Award Activity RSUs Each RSU represents the right to receive one share of common stock of the Parent. The following table summarizes the activity for RSUs for the year ended December 31, 2019 (units in thousands): Unvested RSUs Weighted Average Grant Date Fair Value Balance at January 1, 2019 1,255 $ 54.48 Granted 648 74.58 Vested and distributed (681 ) 51.82 Forfeited (57 ) 62.93 Balance at December 31, 2019 1,165 $ 68.44 The fair value of stock awards granted and vested was $46.6 million and $35.7 million for 2018, respectively, and $38.5 million and $32.9 million for 2017, respectively, based on the weighted average grant date fair value per unit. Total remaining compensation cost related to RSUs outstanding at December 31, 2019, was $46.0 million, prior to adjustments for capitalized amounts due to our development activities. The remaining compensation cost will be recognized through 2023, with a weighted average period of 1.3 years. LTIP Units An LTIP Unit represents a partnership interest in the OP. After vesting and the satisfaction of certain conditions, an LTIP Unit may be exchangeable for a common limited partnership unit in the OP and then redeemable for a share of common stock (or cash at our option). The following table summarizes the activity for LTIP Units for the year ended December 31, 2019 (units in thousands): Vested LTIP Units Unvested LTIP Units Unvested Weighted Average Grant Date Fair Value Balance at January 1, 2019 3,293 2,177 $ 56.05 Granted - 1,223 75.84 Forfeited - (21 ) 66.77 Vested LTIP Units 1,134 (1,134 ) 54.41 Vested POP LTIP Units (1) 391 - N/A Unvested POP LTIP Units (1) - 433 21.17 Conversion to common limited partnership units (1,104 ) - N/A Balance at December 31, 2019 3,714 2,678 $ 60.06 (1) Vested and unvested units were based on the POP performance criteria being met for the 2016 – 2018 performance period and represented the earned award amounts. Vested and unvested units are included in the POP award table above. The fair value of stock awards granted and vested, excluding POP awards, was $82.6 million and $41.2 million for 2018, respectively, and $53.2 million and $28.3 million for 2017, respectively, based on the weighted average grant date fair value per unit. Total remaining compensation cost related to LTIP Units, excluding POP, at December 31, 2019, was $101.2 million, prior to adjustments for capitalized amounts due to our development activities. The remaining compensation cost will be recognized through 2023, with a weighted average period of 1.4 years. Stock Options We have 0.1 million stock options outstanding and exercisable at December 31, 2019, with a weighted average exercise price of $30.85 and a weighted average life of 0.9 years. The aggregate intrinsic value of exercised options was $11.8 million, $13.8 million, and $28.6 million for the years ended December 31, 2019, 2018 and 2017, respectively. No stock options were granted in the three-year period ended December 31, 2019. Other Plans The Prologis 401(k) Plan (the “401(k) Plan”) provides for matching employer contributions of $0.50 for every dollar contributed by an employee, up to 6% of the employee’s annual compensation (within the statutory compensation limit). In the 401(k) Plan, vesting in the matching employer contributions is based on the employee’s years of service, with 100% vesting at the completion of one year of service. Our contributions under the matching provisions were $3.0 million, $2.9 million and $2.8 million for the years ended December 31, 2019, 2018 and 2017, respectively. In January 2020, the 401(k) Plan was amended to provide for a new matching employer contribution of $0.50 for every dollar contributed by an employee, up to 12% of the employee’s annual compensation (within the statutory compensation limit). We have a non-qualified savings plan that allows highly compensated employees the opportunity to defer the receipt and income taxation of a certain portion of their compensation in excess of the amount permitted under the 401(k) Plan. There has been no employer matching within this plan in the three-year period ended December 31, 2019.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 13. INCOME TAXES Components of Earnings Before Income Taxes The following table summarizes the components of earnings before income taxes for the years ended December 31 (in thousands): 2019 2018 2017 Domestic $ 981,188 $ 1,078,678 $ 1,207,503 International 795,175 807,612 608,065 Earnings before income taxes $ 1,776,363 $ 1,886,290 $ 1,815,568 Summary of Current and Deferred Income Taxes The following table summarizes the components of the provision for income taxes for the years ended December 31 (in thousands): 2019 2018 2017 Current income tax expense: U.S. federal $ 3,232 $ 1,727 $ 214 International 41,855 50,731 45,185 State and local 17,209 9,424 14,215 Total current income tax expense 62,296 61,882 59,614 Deferred income tax expense (benefit): U.S. federal (208 ) (317 ) 2,533 International 12,429 1,765 (7,538 ) Total deferred income tax expense (benefit) 12,221 1,448 (5,005 ) Total income tax expense $ 74,517 $ 63,330 $ 54,609 Current Income Taxes Current income tax expense incurred in international jurisdictions over the last three years was due to tax charged on the following: (i) the contribution of real estate properties to our unconsolidated co-investment ventures and sales to third-parties; (ii) recurring and transactional fees earned; and (iii) taxable earnings from unconsolidated co-investment ventures. For the years ended December 31, 2019, 2018 and 2017, we did not recognize any expense for uncertain tax positions. During the years ended December 31, 2019, 2018 and 2017, cash paid for income taxes, net of refunds, was $62.1 million, $60.3 million and $46.7 million, respectively. Deferred Income Taxes The deferred income tax expense recognized in 2019 and 2018 was due to changes in temporary differences and utilization of NOLs. The deferred income tax benefit recognized in 2017 was principally due to the reversal of deferred tax liabilities from the contribution and disposition of properties. The following table summarizes the deferred income tax assets and liabilities at December 31 (in thousands): 2019 2018 Gross deferred income tax assets: NOL carryforwards $ 287,516 $ 336,485 Basis difference – real estate properties 42,472 55,198 Basis difference – equity investments 445 5,448 Basis difference – intangibles - 1,076 Section 163(j) interest limitation 480 4,771 Capital loss carryforward 1 1 Other – temporary differences 2,754 3,487 Total gross deferred income tax assets 333,668 406,466 Valuation allowance (299,092 ) (379,987 ) Gross deferred income tax assets, net of valuation allowance 34,576 26,479 Gross deferred income tax liabilities: Basis difference – real estate properties 78,113 69,157 Basis difference – equity investments 12,622 2,380 Other – temporary differences 1,898 2,941 Total gross deferred income tax liabilities 92,633 74,478 Net deferred income tax liabilities $ 58,057 $ 47,999 At December 31, 2019, we had NOL carryforwards as follows (in thousands): U.S. Europe Mexico Japan Other Gross NOL carryforward $ 72,880 $ 652,026 $ 292,213 $ 117,500 $ 36,062 Tax-effected NOL carryforward 17,781 149,197 90,116 21,634 8,788 Valuation allowance (5,542 ) (143,552 ) (90,116 ) (21,634 ) (7,188 ) Net deferred tax asset – NOL carryforward $ 12,239 $ 5,645 $ - $ - $ 1,600 Expiration periods 2022 – indefinite 2020 – indefinite 2020 – 2030 2020 – 2029 2020 – indefinite The deferred tax asset valuation allowance at December 31, 2019, was adequate to reduce the total deferred tax asset to an amount that we estimate will more likely than not be realized. Liability for Uncertain Tax Positions During the years ended December 31, 2019, 2018 and 2017, we believe that we have complied with the REIT requirements of the IRC. The statute of limitations for our tax returns is generally three years. As such, our tax returns that remain subject to examination would be primarily from 2016 and thereafter. The liability for uncertain tax positions was $3.0 million at December 31, 2019 and 2018 and consisted of estimated income tax liabilities in Mexico for both periods.

Earnings Per Common Share or Un

Earnings Per Common Share or Unit	12 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Common Share or Unit	NOTE 14. 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 for the years ended December 31 was as follows (in thousands, except per share and unit amounts): Prologis, Inc. 2019 2018 2017 Net earnings attributable to common stockholders – Basic $ 1,566,950 $ 1,643,426 $ 1,641,931 Net earnings attributable to exchangeable limited partnership units (1) 46,986 49,743 46,280 Adjusted net earnings attributable to common stockholders – Diluted $ 1,613,936 $ 1,693,169 $ 1,688,211 Weighted average common shares outstanding – Basic 630,580 567,367 530,400 Incremental weighted average effect on exchange of limited partnership units (1) 19,154 17,768 15,945 Incremental weighted average effect of equity awards 5,169 5,104 5,955 Weighted average common shares outstanding – Diluted (2) 654,903 590,239 552,300 Net earnings per share attributable to common stockholders: Basic $ 2.48 $ 2.90 $ 3.10 Diluted $ 2.46 $ 2.87 $ 3.06 Prologis, L.P. 2019 2018 2017 Net earnings attributable to common unitholders $ 1,613,615 $ 1,692,313 $ 1,686,945 Net earnings attributable to Class A Units (20,454 ) (24,465 ) (26,642 ) Net earnings attributable to common unitholders – Basic 1,593,161 1,667,848 1,660,303 Net earnings attributable to Class A Units 20,454 24,465 26,642 Net earnings attributable to exchangeable other limited partnership units 321 856 1,266 Adjusted net earnings attributable to common unitholders – Diluted $ 1,613,936 $ 1,693,169 $ 1,688,211 Weighted average common partnership units outstanding – Basic 641,128 575,798 536,335 Incremental weighted average effect on exchange of Class A Units 8,231 8,446 8,607 Incremental weighted average effect on exchange of other limited partnership units 375 891 1,403 Incremental weighted average effect of equity awards of Prologis, Inc. 5,169 5,104 5,955 Weighted average common units outstanding – Diluted (2) 654,903 590,239 552,300 Net earnings per unit attributable to common unitholders: Basic $ 2.48 $ 2.90 $ 3.10 Diluted $ 2.46 $ 2.87 $ 3.06 (1) The exchangeable limited partnership units include the units as discussed in Note 11. Earnings allocated to the exchangeable OP units not held by the Parent have been included in the numerator and exchangeable common 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 weighted average potentially dilutive shares and units outstanding for the years ended December 31 consisted of the following: 2019 2018 2017 Class A Units 8,231 8,446 8,607 Other limited partnership units 375 891 1,403 Equity awards 7,933 8,175 9,183 Prologis, L.P. 16,539 17,512 19,193 Common limited partnership units 10,548 8,431 5,935 Prologis, Inc. 27,087 25,943 25,128

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	12 Months Ended
	Dec. 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Financial Instruments and Fair Value Measurements	NOTE 15. 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. We may enter into derivative financial instruments to offset these underlying market risks. See Note 2 for our derivative financial instruments policy. The following table presents the fair value of our derivative financial instruments recognized within Other Assets Other Liabilities 2019 2018 Asset Liability Asset Liability Undesignated derivatives Foreign currency contracts Forwards Brazilian real $ 181 $ 49 $ 80 $ - British pound sterling 731 3,823 2,266 324 Canadian dollar 523 1,855 3,336 53 Chinese renminbi - 81 - - Euro 7,135 2,034 7,895 1,922 Japanese yen 3,889 97 3,334 1,318 Mexican peso - - 159 - Swedish krona - 797 - - Interest rate swaps U.S. dollar - - 27 - Designated derivatives Foreign currency contracts Net investment hedges Brazilian real - - - 3,165 British pound sterling 807 13,189 - 949 Canadian dollar - 1,926 5,634 - Interest rate swaps Cash flow hedges Euro - - - 428 Total fair value of derivatives $ 13,266 $ 23,851 $ 22,731 $ 8,159 Undesignated Derivative Financial Instruments Foreign Currency Contracts The following table summarizes the activity of our undesignated foreign currency contracts for the years ended December 31 (in millions, except for weighted average forward rates and number of active contracts): 2019 2018 2017 CAD EUR GBP JPY SEK Other Total CAD EUR GBP JPY Other Total CAD EUR GBP JPY Total Notional amounts at January 1 $ 55 $ 314 $ 118 $ 177 $ - $ 5 $ 669 $ 56 $ 233 $ 132 $ 153 $ - $ 574 $ 38 $ 197 $ 78 $ 144 $ 457 New contracts 201 619 1,111 85 31 524 2,571 28 252 55 102 423 860 41 143 151 75 410 Matured, expired or settled contracts (136 ) (352 ) (1,051 ) (80 ) - (514 ) (2,133 ) (29 ) (171 ) (69 ) (78 ) (418 ) (765 ) (23 ) (107 ) (97 ) (66 ) (293 ) Notional amounts at December 31 $ 120 $ 581 $ 178 $ 182 $ 31 $ 15 $ 1,107 $ 55 $ 314 $ 118 $ 177 $ 5 $ 669 $ 56 $ 233 $ 132 $ 153 $ 574 Weighted average forward rate at December 31 1.32 1.13 1.32 103.39 9.42 1.28 1.21 1.32 105.17 1.29 1.17 1.29 106.25 Active contracts at December 31 40 53 50 44 20 24 35 24 34 24 29 20 34 The following table summarizes the undesignated derivative financial instruments exercised and associated realized and unrealized gains (losses) in Foreign Currency and Derivative Gains (Losses), Net 2019 2018 2017 Exercised contracts 115 89 44 Realized gains (losses) on the matured, expired or settled contracts $ 28 $ (3 ) $ 13 Unrealized gains (losses) on the change in fair value of outstanding contracts $ (10 ) $ 29 $ (51 ) Designated Derivative Financial Instruments Foreign Currency Contracts The following table summarizes the activity of our foreign currency contracts designated as net investment hedges for the years ended December 31 2019 2018 2017 BRL CAD EUR GBP Total BRL CAD EUR GBP Total CAD GBP Total Notional amounts at January 1 $ 460 $ 100 $ - $ 127 $ 687 $ - $ 99 $ - $ - $ 99 $ 100 $ 46 $ 146 New contracts 489 97 420 649 1,655 1,568 100 1,053 127 2,848 99 127 226 Matured, expired or settled contracts (949 ) (100 ) (420 ) (389 ) (1,858 ) (1,108 ) (99 ) (1,053 ) - (2,260 ) (100 ) (173 ) (273 ) Notional amounts at December 31 $ - $ 97 $ - $ 387 $ 484 $ 460 $ 100 $ - $ 127 $ 687 $ 99 $ - $ 99 Weighted average forward rate at December 31 - 1.32 - 1.29 3.91 1.28 - 1.28 1.34 - Active contracts at December 31 - 2 - 5 1 2 - 2 2 - Interest Rate Swaps The following table summarizes the activity of our interest rate swaps designated as cash flow hedges for the years ended December 31 2019 2018 2017 EUR CAD EUR USD Total CAD Notional amounts at January 1 $ 500 $ 271 $ - $ - $ 271 $ 271 New contracts (1) - - 500 300 800 - Matured, expired or settled contracts (1)(2) (500 ) (271 ) - (300 ) (571 ) - Notional amounts at December 31 $ - $ - $ 500 $ - $ 500 $ 271 (1) During 2018, we entered into two interest rate swap contracts with an aggregated notional amount of €400.0 million ( (2) During 2018, we repaid CAD 201.4 million ($158.9 million) on our 2015 Canadian Term Loan. At that time, we settled the interest rate swaps related to the 2015 Canadian Term Loan as we determined it was no longer probable that we would continue to have the future cash flows as originally hedged. As a result, the $ 12.5 million gain in AOCI/L at the time of settlement was reclassified to Interest Expense during 2018. Designated Nonderivative Financial Instruments The following table summarizes our debt and accrued interest, designated as a hedge of our net investment in international subsidiaries at December 31 (in millions): 2019 2018 2017 British pound sterling $ 329 $ 269 $ 436 Euro $ 850 $ 2,645 $ 3,620 The following table summarizes the unrealized gains (losses) in Foreign Currency and Derivative Gains (Losses), Net 2019 2018 2017 Unrealized gains (losses) on the unhedged portion $ (64 ) $ 96 $ (23 ) Other Comprehensive Income (Loss) The change in Other Comprehensive Income (Loss) Other Comprehensive Income (Loss). The following table presents these changes in Other Comprehensive Income (Loss) 2019 2018 2017 Derivative net investment hedges $ (22,600 ) $ 26,457 $ (12,762 ) Nonderivative net investment hedges 141,675 151,083 (477,755 ) Cumulative translation adjustment (20,593 ) (368,130 ) 553,972 Total foreign currency translation gains (losses), net $ 98,482 $ (190,590 ) $ 63,455 Cash flow hedges (1) $ 4,665 $ (5,815 ) $ 12,726 Our share of derivatives from unconsolidated co-investment ventures (6,000 ) 4,492 9,865 Total unrealized gains (losses) on derivative contracts, net $ (1,335 ) $ (1,323 ) $ 22,591 Total change in other comprehensive income (loss) $ 97,147 $ (191,913 ) $ 86,046 (1) We estimate an additional expense of $4.2 million will be reclassified to Interest Expense Fair Value Measurements We have estimated the fair value of our financial instruments using available market information and valuation methodologies we believe to be appropriate for these purposes. Considerable judgment and a high degree of subjectivity are involved in developing these estimates and, accordingly, they are not necessarily indicative of amounts that we would realize on disposition. See Note 2 for more information on our fair value measurements policy. Fair Value Measurements on a Recurring Basis At December 31, 2019 and 2018, 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 December 31, 2019 and 2018 were classified as Level 2 of the fair value hierarchy. Fair Value Measurements on Nonrecurring Basis Acquired properties and assets we expect to sell or contribute are significant nonfinancial assets that met the criteria to be measured at fair value on a nonrecurring basis, as detailed in our accounting policy in Note 2. At December 31, 2019 and 2018, we estimated the fair value of our properties using Level 2 or Level 3 inputs from the fair value hierarchy. See more information on our acquired properties in Notes 3 and 4 and assets held for sale or contribution in Note 6. Fair Value of Financial Instruments At December 31, 2019 and 2018, the carrying amounts of certain financial instruments, including cash and cash equivalents, accounts and notes receivable, accounts payable and accrued expenses were representative of their fair values. The differences in the fair value of our debt from the carrying value in the table below were the result of differences in interest rates or borrowing spreads that were available to us at December 31, 2019 and 2018, as compared with those in effect when the debt was issued or assumed, including reduced borrowing spreads due to our improved credit ratings. The senior notes and many of the issuances of secured mortgage debt contain prepayment 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 at December 31 (in thousands): 2019 2018 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 184,255 $ 184,255 $ 50,500 $ 50,513 Senior notes 9,660,570 10,228,715 8,304,147 8,606,864 Term loans and unsecured other 1,441,882 1,463,841 1,921,428 1,946,335 Secured mortgage 619,170 651,047 813,740 849,417 Total $ 11,905,877 $ 12,527,858 $ 11,089,815 $ 11,453,129 The fair value of the senior notes outstanding at December 31, 2019 and 2018 increased as certain issuances yielded higher interest rates than the overall bond yields available in the market, driving a larger increase in the fair value of debt year over year.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 16. COMMITMENTS AND CONTINGENCIES Environmental Matters A majority of the properties we acquire, including land, are subjected to environmental reviews either by us or the previous owners. In addition, we may incur environmental remediation costs associated with certain land parcels we acquire in connection with the development of the land. We have acquired certain properties that may have been leased to or previously owned by companies that discharged hazardous materials. We establish a liability at the time of acquisition to cover such costs and adjust the liabilities as appropriate when additional information becomes available. We record our environmental liabilities in Other Liabilities Indemnification Agreements We may enter into agreements whereby we indemnify certain co-investment ventures, or our venture partners, outside of the U.S. for taxes that may be assessed with respect to certain properties we contributed to these ventures. Our contributions to these ventures are generally structured as contributions of shares of companies that own the real estate assets. Accordingly, the capital gains associated with the step up in the value of the underlying real estate assets, for tax purposes, are deferred and transferred at contribution. We have generally indemnified these ventures to the extent that the ventures: (i) incur capital gains or withholding tax as a result of a direct sale of the real estate asset, as opposed to a transaction in which the shares of the company owning the real estate asset are transferred or sold or (ii) are required to grant a discount to the buyer of shares under a share transfer transaction as a result of the ventures transferring the embedded capital gain tax liability to the buyer of the shares in the transaction. The agreements limit the amount that is subject to our indemnification with respect to each property to 100% of the actual tax liabilities related to the capital gains that are deferred and transferred by us to the ventures at the time of the initial contribution less any deferred tax assets transferred with the property. The outcome under these agreements is uncertain as it depends on the method and timing of dissolution of the related venture or disposition of any properties by the venture. We record liabilities related to the indemnification agreements in Other Liabilities Off-Balance Sheet Liabilities We have issued performance and surety bonds and standby letters of credit in connection with certain development projects. Performance and surety bonds are commonly required by public agencies from real estate developers. Performance and surety bonds are renewable and expire on the completion of the improvements and infrastructure. At December 31, 2019 and 2018, we had $240.6 million and $212.6 million, respectively, outstanding under such arrangements. We may be required under capital commitments or we may choose to make additional capital contributions to certain of our unconsolidated entities, representing our proportionate ownership interest, should additional capital contributions be necessary to fund development or acquisition costs, repayment of debt or operation al shortfalls. See Note 5 for further discussion related to equity commitments to our unconsolidated co-investment ventures. Litigation From time to time, we are party to a variety of legal proceedings arising in the ordinary course of business. We believe that, with respect to any such matters that we are currently a party to, the ultimate disposition of any such matter will not have material adverse effect on our business, financial position or results of operations.

Business Segments

Business Segments	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Business Segments	NOTE 17. BUSINESS SEGMENTS Our current business strategy includes 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 revenue and earnings. We collect rent from our customers through operating leases, including reimbursements for the majority of our property operating costs. Each operating property is considered to be an individual operating segment with similar economic characteristics; these properties are combined within the reportable 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; and (iii) our customer relationships. Land we own and lease to customers under ground leases, along with land and buildings we lease, is also included in this segment. • Strategic Capital. This operating segment represents the management of unconsolidated co-investment ventures. We generate strategic capital revenues primarily 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, legal 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 The following reconciliations are presented in thousands: Years Ended December 31, 2019 2018 2017 Revenues: Real estate operations segment: U.S. $ 2,645,194 $ 2,173,279 $ 2,025,184 Other Americas 94,984 119,954 84,789 Europe 44,356 54,405 73,708 Asia 54,201 50,511 60,564 Total real estate operations segment 2,838,735 2,398,149 2,244,245 Strategic capital segment: U.S. 86,271 74,618 176,720 Other Americas 40,347 32,434 28,494 Europe 283,909 174,898 106,862 Asia 81,359 124,350 61,813 Total strategic capital segment 491,886 406,300 373,889 Total revenues 3,330,621 2,804,449 2,618,134 Segment net operating income: Real estate operations segment: U.S. (1) 1,953,727 1,621,665 1,519,164 Other Americas 69,393 89,044 58,842 Europe 27,525 34,807 51,277 Asia 40,675 38,425 33,234 Total real estate operations segment 2,091,320 1,783,941 1,662,517 Strategic capital segment: U.S. (1) (10,945 ) 4,712 106,471 Other Americas 27,369 19,874 16,811 Europe 246,213 136,240 68,127 Asia 44,588 88,434 27,339 Total strategic capital segment 307,225 249,260 218,748 Total segment net operating income 2,398,545 2,033,201 1,881,265 Reconciling items: General and administrative expenses (266,718 ) (238,985 ) (231,059 ) Depreciation and amortization expenses (1,139,879 ) (947,214 ) (879,140 ) Gains on dispositions of development properties and land, net 467,577 469,817 327,528 Gains on other dispositions of investments in real estate, net 390,241 371,179 855,437 Operating income 1,849,766 1,687,998 1,954,031 Earnings from unconsolidated entities, net 200,178 298,260 248,567 Interest expense (239,953 ) (229,141 ) (274,486 ) Interest and other income, net 24,213 14,663 13,731 Foreign currency and derivative gains (losses), net (41,715 ) 117,096 (57,896 ) Losses on early extinguishment of debt, net (16,126 ) (2,586 ) (68,379 ) Earnings before income taxes $ 1,776,363 $ 1,886,290 $ 1,815,568 December 31, 2019 2018 Segment assets: Real estate operations segment: U.S. $ 27,999,868 $ 27,666,200 Other Americas 1,332,237 1,712,862 Europe 1,379,579 1,040,061 Asia 879,072 1,012,253 Total real estate operations segment 31,590,756 31,431,376 Strategic capital segment (2) U.S. 14,529 15,802 Europe 25,280 25,280 Asia 359 455 Total strategic capital segment 40,168 41,537 Total segment assets 31,630,924 31,472,913 Reconciling items: Investments in and advances to unconsolidated entities 6,237,371 5,745,294 Assets held for sale or contribution 720,685 622,288 Lease right-of-use assets 111,439 - Cash and cash equivalents 1,088,855 343,856 Other assets 242,576 233,313 Total reconciling items 8,400,926 6,944,751 Total assets $ 40,031,850 $ 38,417,664 (1) This includes compensation, personnel costs and PPP awards for employees who were located in the U.S. but also support other geographies. (2) Represents management contracts and goodwill recorded in connection with business combinations associated with the Strategic Capital segment. Goodwill was $25.3

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	NOTE 18. SUPPLEMENTAL CASH FLOW INFORMATION Our significant noncash investing and financing activities for the years ended December 31, 2019, 2018 and 2017 included the following: • W e recognized Lease ROU Assets and Lease Liabilities on the Consolidated Balance Sheets, including any new leases, renewals, modifications and terminations after January 1, 2019 of $523.8 million and $527.3 million, respectively, related to leases in which we are the lessee. • We capitalized $21.4 million, $26.4 million and $28.8 million in 2019, 2018 and 2017, respectively, of equity-based compensation expense. Beginning January 1, 2019, upon adoption of the new lease standard, we capitalized equity-based compensation expenses related to development activities only. Internal costs related to our leasing activities are expensed as incurred. • We received $646.8 million, $386.7 million and $153.3 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 2019, 2018 and 2017, respectively, as disclosed in Note 5. Included in 2019 was our initial 20.0% investment in PBLV in exchange for our contribution of the initial portfolio of properties to PBLV upon formation. • An unconsolidated co-investment venture in Europe declared a distribution of $80.9 million which we subsequently reinvested and increased our ownership in 2019. • We and our existing partner in Prologis China Logistics Venture I, LP received equity interests in PCCLF for the contribution of the existing portfolio of assets in 2019. Our ownership percentage in PCCLF was 15.6% subsequent to the contribution. • We purchased our partners’ interest in a consolidated venture through the distribution of an operating property for $11.4 million in 2019. We formed a consolidated venture into which our partner contributed $11.8 million of land in 2018. • We issued 1.2 million and 1.5 million shares in 2019 and 2017, respectively, of the Parent’s common stock upon redemption of an equal number of common limited partnership units in the OP. • We completed the DCT Transaction on August 22, 2018 for $8.5 billion through the issuance of equity and the assumption of debt. See Note 3 for more information on this transaction. • We contributed operating properties owned by NAIF to USLF in 2017. As a result, we received $1.1 billion of units or ownership interest in USLF as a portion of our proceeds from this contribution. In addition, USLF acquired the $19.5 million note receivable backed by real estate we received in 2017 and assumed $956.0 million of secured mortgage debt. • We received $53.8 million of notes receivable backed by real estate in exchange for the disposition of real estate in 2017

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	NOTE 19. SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) The following table details our selected quarterly financial data (in thousands, except per share and unit data): Three Months Ended Prologis, Inc. March 31, June 30, September 30, December 31, 2019: Rental revenues $ 696,807 $ 700,689 $ 710,465 $ 723,857 Total revenues $ 772,052 $ 790,372 $ 942,181 $ 826,016 Rental expenses $ (188,068 ) $ (181,138 ) $ (180,864 ) $ (184,196 ) Gains on dispositions of development properties and land, net $ 42,441 $ 196,941 $ 63,935 $ 164,260 Gains on other dispositions of investments in real estate, net $ 145,767 $ 27,254 $ 59,379 $ 157,841 Operating income $ 376,590 $ 442,056 $ 471,480 $ 559,640 Consolidated net earnings $ 373,765 $ 410,826 $ 491,013 $ 426,242 Net earnings attributable to common stockholders $ 347,047 $ 383,784 $ 450,639 $ 385,480 Net earnings per share attributable to common stockholders – Basic (1) $ 0.55 $ 0.61 $ 0.71 $ 0.61 Net earnings per share attributable to common stockholders – Diluted (1)(2) $ 0.55 $ 0.60 $ 0.71 $ 0.61 2018: Rental revenues $ 555,943 $ 544,679 $ 608,974 $ 679,195 Total revenues $ 693,656 $ 621,276 $ 682,432 $ 807,085 Rental expenses $ (142,941 ) $ (133,329 ) $ (147,184 ) $ (177,194 ) Gains on dispositions of development properties and land, net $ 157,568 $ 63,669 $ 108,049 $ 140,531 Gains on other dispositions of investments in real estate, net $ 37,543 $ 30,592 $ 86,009 $ 217,035 Operating income $ 432,218 $ 281,555 $ 375,579 $ 598,646 Consolidated net earnings $ 391,959 $ 364,991 $ 375,520 $ 690,490 Net earnings attributable to common stockholders $ 365,902 $ 334,611 $ 346,345 $ 596,568 Net earnings per share attributable to common stockholders – Basic (1) $ 0.69 $ 0.63 $ 0.60 $ 0.95 Net earnings per share attributable to common stockholders – Diluted (1)(2) $ 0.68 $ 0.62 $ 0.60 $ 0.94 Prologis, L.P. 2019: Rental revenues $ 696,807 $ 700,689 $ 710,465 $ 723,857 Total revenues $ 772,052 $ 790,372 $ 942,181 $ 826,016 Rental expenses $ (188,068 ) $ (181,138 ) $ (180,864 ) $ (184,196 ) Gains on dispositions of development properties and land, net $ 42,441 $ 196,941 $ 63,935 $ 164,260 Gains on other dispositions of investments in real estate, net $ 145,767 $ 27,254 $ 59,379 $ 157,841 Operating income $ 376,590 $ 442,056 $ 471,480 $ 559,640 Consolidated net earnings $ 373,765 $ 410,826 $ 491,013 $ 426,242 Net earnings attributable to common unitholders $ 357,621 $ 395,470 $ 463,997 $ 396,527 Net earnings per unit attributable to common unitholders – Basic (1) $ 0.55 $ 0.61 $ 0.71 $ 0.61 Net earnings per unit attributable to common unitholders – Diluted (1)(2) $ 0.55 $ 0.60 $ 0.71 $ 0.61 2018: Rental revenues $ 555,943 $ 544,679 $ 608,974 $ 679,195 Total revenues $ 693,656 $ 621,276 $ 682,432 $ 807,085 Rental expenses $ (142,941 ) $ (133,329 ) $ (147,184 ) $ (177,194 ) Gains on dispositions of development properties and land, net $ 157,568 $ 63,669 $ 108,049 $ 140,531 Gains on other dispositions of investments in real estate, net $ 37,543 $ 30,592 $ 86,009 $ 217,035 Operating income $ 432,218 $ 281,555 $ 375,579 $ 598,646 Consolidated net earnings $ 391,959 $ 364,991 $ 375,520 $ 690,490 Net earnings attributable to common unitholders $ 376,425 $ 344,633 $ 356,765 $ 614,490 Net earnings per unit attributable to common unitholders – Basic (1) $ 0.69 $ 0.63 $ 0.60 $ 0.95 Net earnings per unit attributable to common unitholders – Diluted (1)(2) $ 0.68 $ 0.62 $ 0.60 $ 0.94 ( 1 ) Quarterly earnings per common share or unit amounts may not total to the annual amounts due to rounding and the changes in the number of weighted average common shares or units outstanding included in the calculation of basic and diluted shares or units. ( 2 ) Income allocated to the exchangeable OP units not held by the Parent has been included in the numerator and exchangeable OP units have been included in the denominator for the purpose of computing diluted earnings per share for all periods since the per share and unit is the same.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	NOTE 20. SUBSEQUENT EVENTS Acquisition of Liberty Property Trust On February 4, 2020, Liberty, Liberty OP and New Liberty Holdco merged with and into Prologis, Inc., Prologis L.P., Prologis Merger Sub and Prologis OP Merger Sub, pursuant to which, (i) an indirect wholly owned subsidiary of Liberty merged with and into Liberty, with Liberty continuing as the surviving entity and an indirect wholly owned subsidiary of New Liberty Holdco (the “Company Merger”), (ii) thereafter, New Liberty Holdco merged with and into Prologis Merger Sub, with Prologis Merger Sub continuing as the surviving entity and remaining a wholly owned subsidiary of Prologis, Inc. (the “Topco Merger”), (iii) thereafter, Prologis, Inc. and its applicable subsidiaries and Prologis Merger Sub caused all of the outstanding equity interests of Liberty to be contributed to Prologis L.P. in exchange for the issuance by Prologis L.P. of Prologis L.P. common units to other subsidiaries of Prologis, Inc. and (iv) thereafter, Prologis L.P. Merger Sub merged with and into Liberty OP, with Liberty OP continuing as the surviving entity and a wholly owned subsidiary of Prologis L.P. (the “Partnership Merger” and, collectively with the Company Merger and the Topco Merger, the “Mergers”). The total acquisition price was approximately $13 billion through the issuance of equity based on the value of the Prologis common stock issued using the closing price on February 3, 2020 and the assumption of debt. In connection with the transaction, at the effective time of the Topco Merger, each issued and outstanding Liberty common share as of immediately prior to the Company Merger was converted automatically into the right to receive 0.675 shares of Prologis, Inc. common stock. At the effective time of the Partnership Merger, each issued and outstanding common unit of Liberty OP as of immediately prior to the Partnership Merger was converted into 0.675 common units of Prologis L.P. After consideration of all applicable factors pursuant to the business combination accounting rules, we expect to treat the Mergers as an asset acquisition and as a result the transaction costs will likely be capitalized to the basis of the acquired properties. In connection with the Mergers, on November 27, 2019, Liberty and Liberty’s board of directors (the “Liberty Board”) were sued in a putative class action lawsuit, the Stein Thompson Berlinger Garfield Garfield McDonough Hagerty Yonchuk The complaints in the Stein Berlinger McDonough Hagerty Yonchuk Thompson In all six outstanding actions, the plaintiffs seek, among other things, (i) rescission of the transaction and/or (ii) damages, and (iii) attorneys' fees and costs in connection with these lawsuits. Although the ultimate outcome of litigation cannot be predicted with certainty, we believe that these lawsuits are without merit and intend to defend against these actions vigorously.

Real Estate and Accumulated Dep

Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2019
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Real Estate and Accumulated Depreciation	PROLOGIS, INC. AND PROLOGIS, L.P. SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2019 (In thousands of U.S. dollars, as applicable) Initial Cost to Prologis Costs Capitalized Gross Amounts at Which Carried at December 31, 2019 Description No. of Bldgs. Encum- brances Land Building & Improvements Subsequent to Acquisition Land Building & Improvements Total (a,b) Accumulated Depreciation (c) Date of Construction/ Acquisition Operating Properties (d) U.S. Markets Atlanta 101 (d) 216,372 829,879 272,839 218,105 1,100,985 1,319,090 (206,478 ) 1994-2019 Austin 10 12,783 52,335 7,859 12,837 60,140 72,977 (22,921 ) 1994-2015 Baltimore/Washington D.C. 52 (d) 140,823 384,274 149,324 141,824 532,597 674,421 (98,377 ) 1995-2019 Central and Eastern Pennsylvania 42 252,910 843,408 185,974 258,473 1,023,819 1,282,292 (197,112 ) 2002-2018 Central Valley 30 (d) 145,885 386,853 512,850 156,628 888,960 1,045,588 (152,639 ) 1999-2019 Charlotte 16 (d) 15,202 32,889 60,584 17,465 91,210 108,675 (40,658 ) 1994-2015 Chicago 186 (d) 585,670 1,858,769 358,871 597,329 2,205,981 2,803,310 (518,779 ) 1995-2019 Cincinnati 28 (d) 51,705 197,745 101,688 54,820 296,318 351,138 (46,498 ) 1996-2019 Columbus 23 (d) 24,685 121,369 52,230 25,078 173,206 198,284 (75,937 ) 1996-2015 Dallas/Fort Worth 135 (d) 250,306 1,010,176 298,476 252,403 1,306,555 1,558,958 (324,685 ) 1994-2019 Denver 35 92,128 295,412 103,038 90,534 400,044 490,578 (106,338 ) 1993-2019 Houston 105 (d) 171,533 713,667 140,145 171,601 853,744 1,025,345 (164,396 ) 1993-2018 Indianapolis 19 15,970 85,015 42,463 15,970 127,478 143,448 (47,598 ) 1995-2018 Jacksonville 1 - 2,892 273 - 3,165 3,165 (2,221 ) 2011 Kansas City 2 - 14,411 202 - 14,613 14,613 (8,891 ) 2011 Las Vegas 50 114,573 261,616 156,548 109,231 423,506 532,737 (76,356 ) 1996-2018 Louisville 11 42,979 226,263 45,185 43,285 271,142 314,427 (64,026 ) 2005-2015 Nashville 22 61,699 268,238 44,912 63,288 311,561 374,849 (45,442 ) 1995-2019 New Jersey/New York City 106 (d) 864,493 1,514,057 476,276 862,577 1,992,249 2,854,826 (494,401 ) 1996-2019 Orlando 48 82,256 320,781 65,185 82,683 385,539 468,222 (75,025 ) 1994-2018 Phoenix 29 48,572 176,656 50,042 48,563 226,707 275,270 (53,561 ) 1992-2018 Portland 17 (e) 37,921 104,290 19,199 36,583 124,827 161,410 (29,923 ) 2006-2019 Reno 17 (d) 23,919 143,324 88,307 25,393 230,157 255,550 (68,685 ) 1994-2015 San Antonio 20 (d) 25,735 95,828 40,425 25,958 136,030 161,988 (51,898 ) 1994-2016 San Francisco Bay Area 211 (d) 816,163 1,523,357 321,069 821,459 1,839,130 2,660,589 (589,850 ) 1993-2019 Seattle 87 (e) 592,228 977,905 287,168 612,918 1,244,383 1,857,301 (178,380 ) 2008-2019 South Florida 99 (d) 369,762 746,107 198,663 375,397 939,135 1,314,532 (206,516 ) 1994-2019 Southern California 309 (d)(e) 2,545,605 3,857,820 921,231 2,626,752 4,697,904 7,324,656 (1,144,891 ) 2005-2019 Subtotal U.S. Markets: 1,811 7,601,877 17,045,336 5,001,026 7,747,154 21,901,085 29,648,239 (5,092,482 ) Other Americas Markets Canada 32 (d) 220,424 381,013 264,917 246,296 620,058 866,354 (109,179 ) 2008-2019 Mexico 10 100,826 2,287 124,353 105,421 122,045 227,466 (3,921 ) 2011-2019 Subtotal Other Americas Markets: 42 321,250 383,300 389,270 351,717 742,103 1,093,820 (113,100 ) Europe Markets France 5 9,629 4,804 41,476 8,360 47,549 55,909 (2,985 ) 2012-2019 Germany 2 10,437 5,418 601 10,437 6,019 16,456 (3,689 ) 2011 Spain 5 6,396 36,341 12,280 6,696 48,321 55,017 (13,203 ) 2011-2017 U.K. 2 58,255 27,775 1,969 58,259 29,740 87,999 (1,679 ) 2018-2019 Subtotal Europe Markets: 14 84,717 74,338 56,326 83,752 131,629 215,381 (21,556 ) Asia Markets China 2 1,372 8,320 109 1,148 8,653 9,801 (2,376 ) 2011 Japan 2 (d) 33,871 - 145,682 36,437 143,116 179,553 (10,094 ) 2016-2019 Singapore 5 - 137,142 3,897 - 141,039 141,039 (54,604 ) 2011 Subtotal Asia Markets: 9 35,243 145,462 149,688 37,585 292,808 330,393 (67,074 ) Total Operating Properties 1,876 8,043,087 17,648,436 5,596,310 8,220,208 23,067,625 31,287,833 (5,294,212 ) PROLOGIS, INC. AND PROLOGIS, L.P. SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2019 (In thousands of U.S. dollars, as applicable) Initial Cost to Prologis Costs Capitalized Gross Amounts at Which Carried at December 31, 2019 Date of Description No. of Bldgs. Encum- brances Land Building & Improvements Subsequent to Acquisition Land Building & Improvements Total (a,b) Accumulated Depreciation (c) Construction/ Acquisition (f) Development Portfolio U.S. Markets Atlanta 1 3,209 - 451 3,209 451 3,660 Baltimore/Washington D.C. 2 4,005 - 9,125 4,005 9,125 13,130 Central Valley 3 14,705 - 60,894 14,705 60,894 75,599 2019 Chicago 3 11,839 - 25,166 11,839 25,166 37,005 2019 Cincinnati 1 750 119 8,232 750 8,351 9,101 2019 Dallas/Fort Worth 5 4,926 - 25,566 4,926 25,566 30,492 2019 Denver 2 13,845 - 31,182 13,845 31,182 45,027 2019 Houston 1 1,672 - 2,401 1,672 2,401 4,073 Indianapolis 1 1,969 - - 1,969 - 1,969 Las Vegas 2 17,544 - 29,391 17,544 29,391 46,935 2019 Louisville 1 1,788 - 351 1,788 351 2,139 Nashville 1 5,668 - 17,106 5,668 17,106 22,774 2019 New Jersey/New York City 1 (d) 40,963 - 37,821 40,963 37,821 78,784 2019 Orlando 4 24,340 - 16,852 24,340 16,852 41,192 Phoenix 8 43,651 - 42,841 43,651 42,841 86,492 2019 Portland 2 12,959 - 3,588 12,959 3,588 16,547 Reno 1 1,471 - 1,207 1,471 1,207 2,678 San Francisco Bay Area 6 44,177 7,532 77,060 44,177 84,592 128,769 2019 Seattle 2 31,495 - 19,116 31,495 19,116 50,611 South Florida 2 15,145 - 25,037 15,145 25,037 40,182 2019 Southern California 5 38,264 - 135,409 38,264 135,409 173,673 Subtotal U.S. Markets: 54 334,385 7,651 568,796 334,385 576,447 910,832 Other Americas Markets Canada 1 10,346 - 1,408 10,346 1,408 11,754 Mexico 4 25,890 - 26,911 25,890 26,911 52,801 2019 Subtotal Other Americas Markets: 5 36,236 - 28,319 36,236 28,319 64,555 Europe Markets Czech Republic 2 7,176 - 18,356 7,176 18,356 25,532 2019 France 4 14,108 - 30,327 14,108 30,327 44,435 2019 Germany 4 16,456 - 27,540 16,456 27,540 43,996 2019 Italy 7 42,451 - 17,010 42,451 17,010 59,461 Netherlands 7 31,468 - 47,771 31,468 47,771 79,239 2019 Poland 4 11,318 - 35,792 11,318 35,792 47,110 2019 Slovakia 2 4,614 - 29,756 4,614 29,756 34,370 2019 Spain 1 10,184 - 11,259 10,184 11,259 21,443 2019 Sweden 1 6,054 - 4,550 6,054 4,550 10,604 U.K. 7 124,163 - 17,672 124,163 17,672 141,835 Subtotal Europe Markets: 39 267,992 - 240,033 267,992 240,033 508,025 Asia Markets Japan 7 (d) 164,827 - 221,028 164,827 221,028 385,855 2019 Subtotal Asia Markets: 7 164,827 - 221,028 164,827 221,028 385,855 Total Development Portfolio 105 803,440 7,651 1,058,176 803,440 1,065,827 1,869,267 GRAND TOTAL 1,981 8,846,527 17,656,087 6,654,486 9,023,648 24,133,452 33,157,100 (5,294,212 ) Schedule III – Footnotes (a) The following table reconciles real estate assets per Schedule III to the Consolidated Balance Sheets in Item 8. Financial Statements and Supplementary Data at December 31, 2019 (in thousands): Total operating properties and development portfolio per Schedule III $ 33,157,100 (g) Land 1,101,646 Other real estate investments 965,668 Total per Consolidated Balance Sheets $ 35,224,414 (b) The aggregate cost for federal tax purposes at December 31, 2019, of our real estate assets was approximately $23.5 billion (unaudited). (c) Real estate assets (excluding land balances) are depreciated over their estimated useful lives. These useful lives are generally 5 to 7 years for capital improvements, 10 years for standard tenant improvements, 15 to 25 years for depreciable land improvements, 25 to 35 years for operating properties acquired based on the age of the building and 40 years for operating properties we develop. The following table reconciles accumulated depreciation per Schedule III to the Consolidated Balance Sheets in Item 8. Financial Statements and Supplementary Data at December 31, 2019 (in thousands): Total accumulated depreciation per Schedule III $ 5,294,212 (g) Accumulated depreciation on other real estate investments 143,450 Total per Consolidated Balance Sheets $ 5,437,662 (d) Properties with an aggregate undepreciated cost of $1.7 billion secure $557.0 million of mortgage notes. See Note 8 to the Consolidated Financial Statements in Item 8. Financial Statements and Supplementary Data for more information related to our secured mortgage debt. (e) Assessment bonds of $10.9 million are secured by assessments (similar to property taxes) on various underlying real estate properties with an aggregate undepreciated cost of $601.9 million. The assessment bonds are included in term loans and unsecured other debt in Note 8 to the Consolidated Financial Statements in Item 8. Financial Statements and Supplementary Data. (f) Date of construction is provided for properties in the development portfolio that were completed but not yet stabilized. (g ) The following table summarizes our real estate assets and accumulated depreciation per Schedule III for the years ended December 31 (in thousands): 2019 2018 2017 Real estate assets: Balance at beginning of year $ 32,774,956 $ 24,178,816 $ 25,375,539 Acquisitions of and improvements to operating properties, development activity and net effect of changes in foreign exchange rates and other 2,821,919 10,106,651 2,680,484 Basis of operating properties disposed of (1,471,764 ) (1,461,458 ) (3,697,798 ) Change in the development portfolio balance, including the acquisition of properties (273,534 ) 549,312 161,408 Assets transferred to held for sale and contribution (694,477 ) (598,365 ) (340,817 ) Balance at end year $ 33,157,100 $ 32,774,956 $ 24,178,816 Accumulated depreciation: Balance at beginning of year $ 4,550,958 $ 3,971,501 $ 3,679,479 Depreciation expense 843,872 703,215 614,756 Balances retired upon disposition of operating properties and net effect of changes in foreign exchange rates and other (77,583 ) (119,029 ) (313,584 ) Assets transferred to held for sale and contribution (23,035 ) (4,729 ) (9,150 ) Balance at end of year $ 5,294,212 $ 4,550,958 $ 3,971,501

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2019
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.
Consolidation	Consolidation. We consolidate all entities that are wholly owned and those in which we own less than 100% of the equity but control, as well as any variable interest entities (“VIEs”) in which we are the primary beneficiary. We evaluate our ability to control an entity and whether the entity is a VIE and we are the primary beneficiary through consideration of substantive terms of the arrangement to identify which enterprise has the power to direct the activities of the entity that most significantly impact the entity’s economic performance and the obligation to absorb losses and the right to receive benefits from the entity. For entities that are not defined as VIEs, we first consider whether we are the general partner or the limited partner (or the equivalent in such investments that are not structured as partnerships). We consolidate entities in which we are the general partner and the limited partners in such entities do not have rights that would preclude control. For entities in which we are the general partner but do not control the entity as the other partners hold substantive participating or kick-out rights, we apply the equity method of accounting since, as the general partner, we have the ability to exercise significant influence over the operating and financial policies of the venture. For ventures for which we are a limited partner, or our investment is in an entity that is not structured similar to a partnership, we consider factors such as ownership interest, voting control, authority to make decisions and contractual and substantive participating rights of the partners. In instances where the factors indicate that we have a controlling financial interest in the venture, we consolidate the entity.
Reclassifications	Reclassifications. Upon adoption of the new lease standard, as detailed below, rental recoveries for 2017 and 2018 have been reclassified to Rental Revenues in the Consolidated Statements of Income to conform to the 2019 financial statement presentation.
Use of Estimates	Use of Estimates. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. Although we believe the assumptions and estimates we made are reasonable and appropriate, as discussed in the applicable sections throughout the Consolidated Financial Statements, different assumptions and estimates could materially impact our reported results.
Foreign Operations	Foreign Operations. The U.S. dollar is the functional currency for our consolidated subsidiaries and unconsolidated entities operating in the U.S. and Mexico and certain of our consolidated subsidiaries that operate as holding companies for foreign investments. The functional currency for our consolidated subsidiaries and unconsolidated entities operating in other countries is the principal currency in which the entity’s assets, liabilities, income and expenses are denominated, which may be different from the local currency of the country of incorporation or where the entity conducts its operations. The functional currencies of entities outside of the U.S. and Mexico generally include the Brazilian real, British pound sterling, Canadian dollar, Chinese renminbi, euro, Japanese yen, Singapore dollar and Swedish krona. We take part in business transactions denominated in these and other local currencies where we operate. For our consolidated subsidiaries whose functional currency is not the U.S. dollar, we translate their financial statements into the U.S. dollar at the time we consolidate those subsidiaries’ financial statements. Generally, assets and liabilities are translated at the exchange rate in effect at the balance sheet date. The resulting translation adjustments are included in Accumulated Other Comprehensive Income (Loss) AOCI/L We and certain of our consolidated subsidiaries have intercompany and third-party debt that is not denominated in the entity’s functional currency. When the debt is remeasured against the functional currency of the entity, a gain or loss can result. The resulting adjustment is reflected in Foreign Currency and Derivative Gains (Losses), Net AOCI/L
Acquisitions	Acquisitions. We apply a screen test to evaluate if substantially all the fair value of the acquired property is concentrated in a single identifiable asset or group of similar identifiable assets to determine whether a transaction is accounted for as an asset acquisition or business combination. As most of our real estate acquisitions are concentrated in either a single or a group of similar identifiable assets, our real estate transactions are generally accounted for as asset acquisitions, which permits the capitalization of transaction costs to the basis of the acquired property. We measure the real estate assets acquired through an asset acquisition based on their cost or total consideration exchanged and any excess consideration or bargain purchase amount is allocated to the real estate properties, excluding those identified as held for sale, on a relative fair value basis . Other monetary assets acquired and liabilities assumed, including debt, are recorded at fair value. Purchase price allocations for a business combination are recorded at fair value. When we obtain control of an unconsolidated entity and the acquisition qualifies as a business combination, we account for the acquisition in accordance with the guidance for a business combination achieved in stages. We remeasure our previously held interest in the unconsolidated entity at its acquisition-date fair value and recognize any resulting gain or loss in earnings. We allocate the purchase price using primarily Level 2 and Level 3 inputs (further defined in Fair Value Measurements below) as follows: Investments in Real Estate Properties. We value operating properties as if vacant. We estimate fair value by applying an income approach methodology using either a discounted cash flow analysis or applying a capitalization rate to the estimated Net Operating Income (“NOI”) of a property. Key assumptions include market rents, growth rates, and discount and capitalization rates. Estimates of future cash flows are based on a number of factors including historical operating results, known trends and market and economic conditions. We determine the discount or capitalization rate by market based on recent transactions and other market data. The fair value of land is generally based on relevant market data, such as a comparison of the subject site to similar parcels that have recently been sold or are currently being offered on the market for sale. Lease Intangibles . We determine the portion of the purchase price related to intangible assets and liabilities as follows: • Above and Below Market Leases . We recognize an asset or liability for acquired in-place leases with favorable or unfavorable rents based on our estimate of current market rents of the applicable markets. The value is recorded in either Other Assets or Other Liabilities , as appropriate, and is amortized over the term of the respective leases, including any bargain renewal options, to rental revenues. • Foregone Rent . We calculate the value of the revenue and recovery of costs foregone during a reasonable lease-up period, as if the space was vacant, in each of the applicable markets. The values are recorded in Other Assets and amortized over the remaining life of the respective leases to amortization expense. • Leasing Commissions. We recognize an asset for leasing commissions upon the acquisition of in-place leases based on our estimate of the cost to lease space in the applicable markets. The value is recorded in Other Assets and amortized over the remaining life of the respective leases to amortization expense. Debt . We estimate the fair value of debt based on contractual future cash flows discounted using borrowing spreads and market interest rates that would be available to us for the issuance of debt with similar terms and remaining maturities. In the case of publicly traded debt, we estimate the fair value based on available market data. Any discount or premium to the principal amount is included in the carrying value and amortized to interest expense over the remaining term of the related debt using the effective interest method. Noncontrolling Interests . We estimate the portion of the fair value of the net assets owned by third parties based on the fair value of the consolidated net assets, principally real estate properties and debt. Working Capital . We estimate the fair value of other acquired assets and assumed liabilities on the best information available.
Fair Value Measurements	Fair Value Measurements. The objective of fair value is to determine the price that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price). We estimate fair value using available market information and valuation methodologies we believe to be appropriate for these purposes. Considerable judgment and a high degree of subjectivity are involved in developing these estimates and, accordingly, they are not necessarily indicative of amounts that we would realize on disposition. The fair value hierarchy consists of three broad levels: • Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date. • Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 — Unobservable inputs for the asset or liability. Fair Value Measurements on a Recurring Basis. We estimate the fair value of our financial instruments using available market information and valuation methodologies we believe to be appropriate for these purposes. We determine the fair value of our derivative financial instruments using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, foreign exchange rates and implied volatilities. We determine the fair values of our interest rate swaps using the market standard methodology of netting the discounted future fixed cash receipts or payments and the discounted expected variable cash payments. We base the variable cash payments on an expectation of future interest rates, or forward curves, derived from observable market interest rate curves. We base the fair values of our net investment hedges on the change in the spot rate at the end of the period as compared with the strike price at inception. We incorporate credit valuation adjustments to appropriately reflect nonperformance risk for us and the respective counterparty in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we consider the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. We have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy. Although the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties, we assess the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivatives. Fair Value Measurements on a Nonrecurring Basis. Assets measured at fair value on a nonrecurring basis generally consist of real estate assets and investments in unconsolidated entities that were subject to impairment charges related to our change of intent to sell the investments and through our recoverability analysis discussed below. We estimate fair value based on expected sales prices in the market (Level 2) or by applying the income approach methodology using a discounted cash flow analysis (Level 3). Fair Value of Financial Instruments. We estimate the fair value of our senior notes for disclosure purposes based on quoted market prices for the same (Level 1) or similar (Level 2) issues when current quoted market prices are available. We estimate the fair value of our credit facilities, term loans, secured mortgage debt and assessment bonds by discounting the future cash flows using rates and borrowing spreads currently available to us (Level 3).
Real Estate Assets	Real Estate Assets. Real estate assets are carried at depreciated cost. We capitalize costs incurred in developing, renovating, rehabilitating and improving real estate assets as part of the investment basis. We expense costs for repairs and maintenance as incurred. Depreciation and Amortization. We charge the depreciable portions of real estate assets to depreciation expense on a straight-line basis over the respective estimated useful lives. Depreciation on development buildings commences when the asset is ready for its intended use, which we define as the earlier of stabilization (90% occupied) or one year after completion of construction. We generally use the following useful lives: 5 to 7 years 15 to 25 years amortized over the estimated remaining lease term. Our weighted ave rage lease term on leases commenced during 201 9 , based on square feet for all leases, was 66 months . Capitalization of Costs. During the land development and construction periods of qualifying projects, we capitalize interest costs, insurance, real estate taxes and general and administrative costs of the personnel performing the development, renovation and rehabilitation; if such costs are incremental and identifiable to a specific activity to ready the asset for its intended use. We capitalize transaction costs related to the acquisition of land for future development and operating properties that qualify as asset acquisitions. We capitalize incremental costs incurred to successfully originate a lease that result directly from obtaining a lease and would not have been incurred if the lease had not been obtained. With the adoption of the new lease standard on January 1, 2019, we no longer capitalize internal costs related to our leasing activities. Amounts capitalized prior to adoption were not adjusted and continue to be amortized in accordance with previously applicable guidance. Leasing costs that meet the requirements for capitalization are presented as a component of and all other capitalized costs are included in the investment basis of the real estate assets. Recoverability of Real Estate Assets. We assess the carrying values of our respective real estate assets, whenever events or changes in circumstances indicate that the carrying amounts of these assets may not be fully recoverable. We measure the recoverability of the asset by comparing the carrying amount of the asset to the estimated future undiscounted cash flows. If our analysis indicates that the carrying value of the real estate property is not recoverable on an undiscounted cash flow basis, we recognize an impairment charge for the amount by which the carrying value exceeds the current estimated fair value of the real estate property. We estimate the future undiscounted cash flows and fair value based on our intent as follows: • for real estate properties that we intend to hold long-term; including land held for development, properties currently under development and operating properties; recoverability is assessed based on the estimated undiscounted future net rental income from operating the property and the terminal value, including anticipated costs to develop; • for real estate properties we intend to sell, including properties currently under development and operating properties; recoverability is assessed based on proceeds from disposition that are estimated based on the future net rental income of the property, expected market capitalization rates and anticipated costs to develop; • for land parcels we intend to sell, recoverability is assessed based on the estimated proceeds from disposition; and • for costs incurred related to the potential acquisition of land, operating properties or development of a real estate property, recoverability is assessed based on the probability that the acquisition or development is likely to occur at the measurement date.
Assets Held for Sale or Contribution	Assets Held for Sale or Contribution. We classify a property as held for sale or contribution when certain criteria are met in accordance with GAAP. Assets classified as held for sale are expected to be sold to a third party and assets classified as held for contribution are generally newly developed assets we intend to contribute to an unconsolidated co-investment venture within twelve months. When the criteria are met, the respective assets and liabilities are presented separately in the Consolidated Balance Sheets and depreciation is no longer recognized. Assets held for sale or contribution are reported at the lower of their carrying amount or their estimated fair value less the costs to sell.
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities. We present our investments in certain entities under the equity method. We use the equity method when we have the ability to exercise significant influence over operating and financial policies of the venture but do not have control of the entity. Under the equity method, we initially recognize these investments (including advances) in the balance sheet at our cost, including formation costs and net of deferred gains from the contribution of properties, if applicable. The transaction costs related to the formation of equity method investments are also capitalized. We subsequently adjust the accounts to reflect our proportionate share of net earnings or losses recognized and accumulated other comprehensive income or loss, distributions received, contributions made and certain other adjustments, as appropriate. When circumstances indicate there may have been a reduction in the value of an equity investment, we evaluate whether the loss in value is other than temporary. If we conclude it is other than temporary, we recognize an impairment charge to reflect the equity investment at fair value. With regard to distributions from unconsolidated entities, we have elected the nature of distribution approach as the information is available to us to determine the nature of the underlying activity that generated the distributions. In accordance with the nature of distribution approach, cash flows generated from the operations of an unconsolidated entity are classified as a return on investment (cash inflow from operating activities) and cash flows that are generated from property sales, debt refinancing or sales and redemptions of our investments are classified as a return of investment (cash inflow from investing activities).
Cash and Cash Equivalents	Cash and Cash Equivalents. We consider all cash on hand, demand deposits with financial institutions and short-term highly liquid investments with original maturities of three months or less to be cash equivalents. Our cash and cash equivalents are financial instruments that are exposed to concentrations of credit risk. We invest our cash with high-credit quality institutions. Cash balances may be invested in money market accounts that are not insured. We have not realized any losses in such cash investments or accounts and believe that we are not exposed to any significant credit risk.
Derivative Financial Instruments	Derivative Financial Instruments. We primarily hedge our foreign currency risk by borrowing in the currencies in which we invest. Generally, we borrow in the functional currency of our consolidated subsidiaries. We may use derivative financial instruments, such as foreign currency forward and option contracts to manage foreign currency exchange rate risk related to both our foreign investments and the related earnings. In addition, we occasionally use interest rate swap and forward contracts to manage interest rate risk and limit the impact of future interest rate changes on earnings and cash flows, primarily with variable-rate debt. We do not use derivative financial instruments for trading or speculative purposes. Each derivative transaction is customized and not exchange-traded. We recognize all derivatives at fair value within the line items Other Assets Other Liabilities Designated Derivatives. We may choose to designate our derivative financial instruments, generally foreign currency forwards as net investment hedges in foreign operations or interest rate swaps or foreign currency forwards as cash flow hedges. At inception of the transaction, we formally designate and document the derivative financial instrument as a hedge of a specific underlying exposure, the risk management objective and the strategy for undertaking the hedge transaction. We formally assess both at inception and at least quarterly thereafter, the effectiveness of our hedging transactions. Due to the high degree of effectiveness between the hedging instruments and the underlying exposures hedged, fluctuations in the value of the derivative financial instruments will generally be offset by changes in the cash flows or fair values of the underlying exposures being hedged. Changes in the fair value of derivatives that are designated and qualify as net investment hedges in foreign operations and cash flow hedges are recorded in AOCI/L AOCI/L Foreign Currency and Derivative Gains (Losses), Net AOCI/ Interest Expense Interest Expense AOCI/L Interest Expense In addition to the net investment hedges described above, we may issue debt in a currency that is not the same functional currency of the borrowing entity to hedge our net investment in international entities. We may designate the debt and related accrued interest as a nonderivative net investment hedge to offset the translation and economic exposures related to these entities. The foreign currency movement on the portion of the debt and accrued interest that is hedged at period end is recognized as cumulative translation adjustment in AOCI/L Foreign Currency and Derivative Gains (Losses), Net. Undesignated Derivatives. We also use derivatives, such as foreign currency forwards and option contracts, that are not designated as hedges to manage foreign currency exchange rate risk related to the translation of our results of operations. The changes in fair values of these derivatives that were not designated or did not qualify as hedging instruments are immediately recognized in earnings within the line item . These gains or losses are generally offset by lower or higher earnings due to the translation at exchange rates that were different than our expectations. In addition, we may choose to not designate our interest rate swap and forward contracts. If a swap or forward contract is not designated as a hedge, the changes in fair value of these instruments is immediately recognized in earnings within the line item Interest Expense .
Noncontrolling Interests	Noncontrolling Interests. Noncontrolling interests represent the share of consolidated entities owned by third parties. We recognize each noncontrolling holder’s respective share of the estimated fair value of the net assets at the date of formation or acquisition. Noncontrolling interests are subsequently adjusted for the noncontrolling holder’s share of additional contributions, distributions and their share of the net earnings or losses of each respective consolidated entity. We allocate net income to noncontrolling interests based on the weighted average ownership interest during the period. The net income that is not attributable to us is reflected in the line item Net Earnings Attributable to Noncontrolling Interests . We do not recognize a gain or loss on transactions with a consolidated entity in which we do not own 100% of the equity, but we reflect the difference in cash received or paid from the noncontrolling interests carrying amount as additional paid-in-capital Certain limited partnership interests, including OP units, are exchangeable into our common stock. Common stock issued upon exchange of a holder’s noncontrolling interest is accounted for at the carrying value of the surrendered limited partnership interest and the difference between the carrying value and the fair value of the common stock issued is recorded to additional paid-in-capital.
Revenue Recognition	Revenue Recognition. Rental Revenues and Recoveries. We lease our operating properties to customers under agreements that are classified as operating leases. We recognize the total minimum lease payments provided for under the leases on a straight-line basis over the lease term. Generally, under the terms of our leases, the majority of our rental expenses are recovered from our customers, including common area maintenance, real estate taxes and insurance. Rental expenses recovered through reimbursements received from customers are recognized in in the Consolidated Statements of Income. We record amounts reimbursed by our customers as revenues in the period that the applicable expenses are incurred. As the timing and straight-line pattern of transfer to the lessee for rental revenue and the associated rental recoveries are the same and our leases qualify as operating leases, we account for and present rental revenue and rental recoveries as a single component under . We perform credit analyses of our customers prior to the execution of our leases and continue these analyses on an ongoing basis in order to ensure the collectability of rental revenue. We recognize revenue to the extent that amounts are determined to be collectible. Strategic Capital Revenues. Strategic capital revenues include revenues we earn from the management services we provide to unconsolidated entities. These fees are determined in accordance with the terms specific to each arrangement and may include recurring fees such as property and asset management fees or transactional fees for leasing, acquisition, development, construction, financing, legal and tax services provided. We recognize these fees as we provide the services or on a cost basis for development fees. We may also earn incentive returns (“promotes” or “promote revenues”) based on a venture’s cumulative returns over a certain time-period and the returns are determined by both the operating performance and real estate valuation of the venture, including highly variable inputs such as capitalization rates, market rents, interest rates and foreign currency exchange rates. As these key inputs are highly volatile and out of our control, and such volatility can materially impact our promotes period over period, we recognize promote revenues at or near the end of the performance period. We generally earn promote revenue directly from third-party investors in the co-investment ventures and occasionally from the venture. We include the third-party investors’ share of promotes in Strategic Capital Revenues. We also earn fees from ventures that we consolidate. Upon consolidation, these fees are eliminated from our earnings and the third-party investors’ share of these fees are recognized as a reduction of Net Earnings Attributable to Noncontrolling Interests. Development Management and Other Revenues. Development management and other revenues principally include development and construction management fees recognized as we provide the services or on a cost basis.
Gains on Real Estate Transactions, Net	Gains on Real Estate Transactions, Net. T hroughout the notes to the Consolidated Financial Statements, Gains on Real Estate Transactions, Net Gains on Dispositions of Development Properties and Land, Net Gains on Other Dispositions of Investments in Real Estate, Net We recognize gains on the disposition of real estate when the recognition criteria have been met, generally at the time the risks and rewards and title have transferred, and we no longer have substantial continuing involvement with the real estate sold. We recognize losses from the disposition of real estate when known. Beginning January 1, 2018 with the adoption of the new revenue recognition guidance, we recognize the entire gain attributed to contributions of real estate properties to unconsolidated entities. We previously recognized a gain on contribution only to the extent of the third-party ownership in the unconsolidated entity acquiring the property and deferred the portion of the gain related to our ownership through a reduction to our investment in the applicable unconsolidated entity. We adjusted our proportionate share of net earnings or losses recognized in future periods to reflect the entities’ recorded depreciation expense as if it were computed on our lower basis in the contributed properties rather than on the entity’s basis. Gains on Dispositions of Development Properties and Land, Net. We present gains separately based on the type of real estate sold or contributed. We present gains on sales to third parties or contributions to our unconsolidated entities as when the property was included in our land portfolio or when we developed the property within our development portfolio prior to the sale or contribution. Gains on Other Dispositions of Investments in Real Estate, Net. We present all other gains on sales to third parties or contributions to our unconsolidated entities of non-developed properties (primarily operating properties) and other real estate transactions as . Generally, any operating property that was previously depreciated prior to sale or contribution is presented within this line item. We also include gains or losses on the remeasurement of equity investments to fair value upon acquisition of a controlling interest and the transaction is considered the acquisition of a business and gains or losses upon the partial redemption of our investment in an unconsolidated entity.
Rental Expense	Rental Expenses. Rental expenses principally include the cost of our property management personnel, utilities, repairs and maintenance, property insurance, real estate taxes and the other costs of managing the properties.
Strategic Capital Expenses	Strategic Capital Expenses. Strategic capital expenses generally include the direct expenses associated with the asset management of the co-investment ventures provided by our employees who are assigned to our Strategic Capital segment and the costs of our Prologis Promote Plan based on earned promotes. In addition, in order to achieve efficiencies and economies of scale, all of our property management functions are provided by property management personnel who are assigned to our Real Estate Operations segment. These individuals perform the property-level management of the properties in our owned and managed portfolio, which include properties we consolidate and those we manage that are owned by the unconsolidated co-investment ventures. We allocate the costs of our property management to the properties we consolidate (included in Rental Expenses ) and the properties owned by the unconsolidated co-investment ventures (included in Strategic Capital Expenses ) by using the square feet owned by the respective portfolios.
Equity-Based Compensation	Equity-Based Compensation. We account for equity-based compensation by measuring the cost of employee services received in exchange for an award of an equity instrument based on the fair value of the award on the grant date. We recognize the cost of the award on a straight-line basis over the period during which an employee is required to provide service in exchange for the award, generally the vesting period.
Income Taxes	Income Taxes. Under the IRC, REITs are generally not required to pay federal income taxes if they distribute 100% of their taxable income and meet certain income, asset and stockholder tests. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes at regular corporate rates and may not be able to qualify as a REIT for the four subsequent taxable years. Even as a REIT, we may be subject to certain foreign, state and local taxes on our own income and property, and to federal income and excise taxes on our undistributed taxable income. We have elected taxable REIT subsidiary (“TRS”) status for some of our consolidated subsidiaries. This allows us to provide services that would otherwise be considered impermissible for REITs. Many of the foreign countries in which we have operations do not recognize REITs or do not accord REIT status under their respective tax laws to our entities that operate in their jurisdiction. In the U.S., we are taxed in certain states in which we operate. Accordingly, we recognize income tax expense for the federal and state income taxes incurred by our TRSs, taxes incurred in certain states and foreign jurisdictions, and interest and penalties associated with our unrecognized tax benefit liabilities. We evaluate tax positions taken in the Consolidated Financial Statements under the interpretation for accounting for uncertainty in income taxes. As a result of this evaluation, we may recognize a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities. We recognize deferred income taxes in certain taxable entities. For federal income tax purposes, certain acquisitions have been treated as tax-free transactions resulting in a carry-over basis in assets and liabilities. For financial reporting purposes and in accordance with purchase accounting, we record all of the acquired assets and assumed liabilities at the estimated fair value at the date of acquisition, as discussed above. For our taxable subsidiaries, including certain international jurisdictions, we recognize the deferred income tax liabilities that represent the tax effect of the difference between the tax basis carried over and the fair value of the tangible and intangible assets at the date of acquisition. Any subsequent increases or decreases to the deferred income tax liability recorded in connection with these acquisitions, are reflected in earnings. If taxable income is generated in these subsidiaries, we recognize a benefit in earnings as a result of the reversal of the deferred income tax liability previously recorded at the acquisition date and we record current income tax expense representing the entire current income tax liability. If the reversal of the deferred income tax liability results from a sale or contribution of assets, the classification of the reversal to the Consolidated Statements of Income is based on the taxability of the transaction. If the sale or contribution is of the real estate asset and results in a taxable transaction, the reversal is recorded to deferred income tax benefit. If the sale or contribution is the disposition of the entity that owns the asset, the reversal is recorded through gains. Deferred income tax expense is generally a function of the period’s temporary differences (items that are treated differently for tax purposes than for financial reporting purposes) and the utilization of tax net operating losses (“NOL”) generated in prior years that had been previously recognized as deferred income tax assets. We provide for a valuation allowance for deferred income tax assets if we believe all or some portion of the deferred income tax asset may not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances that causes a change in the estimated ability to realize the related deferred income tax asset is included in deferred tax expense.
Environmental Costs	Environmental Costs. We incur certain environmental remediation costs, including cleanup costs, consulting fees for environmental studies and investigations, monitoring costs, and legal costs relating to cleanup, litigation defense, and the pursuit of responsible third parties. We expense costs incurred in connection with operating properties and properties previously sold. We capitalize costs related to undeveloped land as development costs and include any expected future environmental liabilities at the time of acquisition. We maintain a liability for the estimated costs of environmental remediation expected to be incurred in connection with undeveloped land, operating properties and properties previously sold that we adjust as appropriate as information becomes available.
New Accounting Pronouncements	New Accounting Pronouncements. New Accounting Standards Adopted Leases. In February 2016, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update (“ASU”) that provided the principles for the recognition, measurement, presentation and disclosure of leases. The guidance amended the existing accounting standards, including a new requirement that lessees recognize right-of-use assets and lease liabilities for leases with terms greater than twelve months in the Consolidated Balance Sheets. Additional guidance and targeted improvements to the February 2016 ASU were made through the issuance of supplementary ASUs in July 2018, December 2018 and March 2019. We refer to all three ASUs collectively as the “new lease standard.” We adopted the new lease standard on January 1, 2019 and applied it to leases that were in place on the effective date. Results for reporting periods beginning January 1, 2019 are presented under the new lease standard. We elected the package of practical expedients and were not required to reassess the following upon adoption: (i) whether an expired or existing contract met the definition of a lease; (ii) the lease classification at January 1, 2019 for existing leases; and (iii) whether leasing costs previously capitalized as initial direct costs would continue to be amortized. This allowed us to continue to account for our existing ground and office space leases as operating leases, however, any new or renewed ground leases after January 1, 2019 may be classified as financing leases unless they meet certain conditions to be considered a lease involving land owned by a government unit or authority. Upon adoption, we did not have an adjustment to the opening balance of retained earnings due to the election of these practical expedients. • As a lessor. The new lease standard required that lessors expense, on an as-incurred basis, certain initial direct costs that are not incremental in negotiating a lease. Initial direct costs include the salaries and related costs for employees directly working on leasing activities. Prior to January 1, 2019, these costs were capitalizable in Other Assets and therefore the new lease standard resulted in certain of these costs being expensed as incurred through Rental Expenses . During the years ended December 31, 2018 and 2017, we capitalized $21.2 million and $23.8 million, respectively, of internal costs related to our leasing activities. We will continue to amortize initial direct costs capitalized prior to January 1, 2019. We adopted the practical expedient that allowed us to not separate expenses reimbursed by our customers (“rental recoveries”) from the associated rental revenue if certain criteria were met. We assessed these criteria and concluded that the timing and straight-line pattern of transfer to the lessee for rental revenue and the associated rental recoveries are the same and as our leases qualify as operating leases, we accounted for and presented rental revenue and rental recoveries as a single component under Rental Revenues • As a lessee. At January 1, 2019 we recognized Lease Right-of-Use (“ROU”) Assets and Lease Liabilities , principally for our ground and office space leases, in which we are the lessee. See Note 4 for further disclosure around our adoption of the new lease standard. Derivatives and Hedging . In August 2017, the FASB issued an ASU that simplified the application of hedge accounting guidance in current GAAP and improved the reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its consolidated financial statements. Among the simplification updates, the ASU eliminated 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 ASU required 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. We adopted the ASU on January 1, 2019 on a modified retrospective basis and there was no adjustment to the opening balance of retained earnings.

DCT Transaction (Tables)

DCT Transaction (Tables) - DCT Transaction [Member]	12 Months Ended
	Dec. 31, 2019
Schedule of Aggregate Equity Consideration	The aggregate equity consideration of approximately $6.6 billion is calculated below (in millions, except price per share): Number of Prologis shares and units issued upon conversion of DCT shares and units at August 21, 2018 99.73 Multiplied by price of Prologis' common stock on August 21, 2018 $ 65.75 Fair value of Prologis shares and units issued $ 6,557
Schedule of Purchase Price Allocated to DCT Net Tangible and Identifiable Intangible Assets Acquired and Liabilities Assumed	Under acquisition accounting, the total purchase price was allocated to the DCT tangible and identifiable intangible assets acquired and liabilities assumed based on their relative fair values as follows (in millions): Net investments in real estate $ 8,362 Intangible assets, net of intangible liabilities 292 Cash and other assets 24 Debt (1,863 ) Accounts payable, accrued expenses and other liabilities (143 ) Noncontrolling interests (65 ) Total purchase price, including transaction costs $ 6,607

Real Estate (Tables)

Real Estate (Tables)	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Investments in Real Estate Properties	Investments in real estate properties consisted of the following at December 31 (dollars and square feet in thousands): Square Feet Number of Buildings 2019 2018 (1) 2019 2018 (1) 2019 2018 (1) Operating properties: Buildings and improvements 354,297 354,762 1,876 1,858 $ 23,067,625 $ 22,587,267 Improved land 8,220,208 8,044,888 Development portfolio, including land costs: Prestabilized 9,133 8,709 28 30 784,584 828,064 Properties under development 26,893 27,715 77 70 1,084,683 1,314,737 Land (2) 1,101,646 1,192,220 Other real estate investments (3) 965,668 619,811 Total investments in real estate properties 35,224,414 34,586,987 Less accumulated depreciation 5,437,662 4,656,680 Net investments in real estate properties $ 29,786,752 $ 29,930,307 (1) The portfolio acquired in the DCT Transaction, excluding 49 operating properties classified as Assets Held for Sale or Contribution, (2) At December 31, 2019 and 2018, our land was comprised of 4,411 and 4,929 acres, respectively. (3) Included in other real estate investments were: (i) non-logistics real estate; (ii) land parcels that are ground leased to third parties; (iii) our corporate headquarters; (iv) costs related to future development projects, including purchase options on land; (v) earnest money deposits associated with potential acquisitions; and (vi) infrastructure costs related to projects we are developing on behalf of others.
Summary of Properties Acquired	The following table summarizes our real estate acquisition activity, excluding the DCT Transaction as discussed in Note 3, for the years ended December 31 (dollars and square feet in thousands): 2019 2018 2017 (2) Number of operating properties 22 20 16 Square feet 1,405 4,757 6,859 Acres of land 1,269 1,210 1,392 Acquisition cost of net investments in real estate properties (1) $ 1,074,815 $ 1,008,718 $ 1,139,410 (1) Includes the acquisition cost of properties classified in other real estate investments of $302.9 million, $72.3 million and $50.5 million for the years ended December 31, 2019, 2018 and 2017, respectively. (2) 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 real estate properties that included twelve operating properties, two prestabilized properties and 531 acres of undeveloped land. We accounted for the transaction as a step-acquisition under the business combination rules and recognized a gain. The results of operations for these real estate properties were not significant in 2017. In January 2019, we contributed the majority of these real estate assets into a newly formed joint venture.
Summary of Properties Disposed	The following table summarizes our gains on real estate transactions for the years ended December 31 (dollars and square feet in thousands): 2019 2018 2017 Gains on dispositions of development properties and land, net Contributions to unconsolidated entities Number of properties 26 36 29 Square feet 8,676 12,230 10,049 Net proceeds $ 1,328,858 $ 1,459,963 $ 1,394,403 Gains on contributions, net (1) $ 402,922 $ 422,540 $ 310,869 Dispositions to third parties Number of properties 5 8 6 Square feet 1,351 3,297 2,322 Net proceeds $ 204,197 $ 343,277 $ 290,679 Gains on dispositions, net $ 64,655 $ 47,277 $ 16,659 Total gains on dispositions of development properties and land, net $ 467,577 $ 469,817 $ 327,528 Gains on other dispositions of investments in real estate, net Contributions to unconsolidated entities (2)(3) Number of properties 19 4 193 Square feet 8,212 885 38,122 Net proceeds $ 840,906 $ 51,466 $ 1,807,583 Gains on contributions, net (1) $ 98,062 $ 36,567 $ 536,165 Dispositions to third parties Number of properties 47 70 104 Square feet 7,604 12,150 14,825 Net proceeds (4) $ 651,306 $ 905,210 $ 990,822 Gains on dispositions, net (4) $ 157,157 $ 334,612 $ 258,052 Gains on revaluation of equity investments upon acquisition of a controlling interest $ - $ - $ 61,220 Gains on partial redemptions of investment in an unconsolidated co-investment venture (5) $ 135,022 $ - $ - Total gains on other dispositions of investments in real estate, net $ 390,241 $ 371,179 $ 855,437 (1) Amounts in 2019 and 2018 reflect the adoption of the new revenue recognition standard under which we recognized the entire gain attributed to contributions of real estate properties to unconsolidated entities. Amounts in 2017 reflect our prior recognition of the gain to the extent of the third-party ownership in the unconsolidated entity acquiring the property with the deferral of a portion of the gain related to our ownership. (2) In 2017, we contributed 190 operating properties totaling 37.1 million square feet owned by Prologis North American Industrial Fund ("NAIF") to Prologis Targeted U.S. Logistics Fund ("USLF"), our unconsolidated co-investment venture. In exchange for the contribution, we received cash proceeds and additional units and USLF assumed $956.0 million of secured debt. (3) In 2019, we formed Prologis Brazil Logistics Venture (“PBLV”), a Brazilian unconsolidated co-investment venture, with one partner. We contributed an initial portfolio of real estate properties to PBLV consisting of 14 operating properties totaling 6.9 million square feet and 371 acres of land. We received cash proceeds and units for our 20% equity interest (4) In 2017, we sold our investment in Europe Logistics Venture 1. (5) In 2019, we redeemed a portion of our investment in a European unconsolidated co-investment venture.
Summary of Minimum Lease Payments on Leases	The following table summarizes the minimum lease payments due from our customers on leases with an original lease term greater than one year for space in our operating properties, prestabilized and under development properties, leases of land subject to ground leases and assets held for sale or contribution at December 31 (in thousands): 2019 2018 2020 $ 2,133,581 2019 $ 2,006,475 2021 1,922,139 2020 1,867,253 2022 1,618,649 2021 1,589,102 2023 1,317,729 2022 1,278,281 2024 1,013,632 2023 990,970 Thereafter 3,479,038 Thereafter 3,293,320 Total $ 11,484,768 Total $ 11,025,401
Future Minimum Rental Payments under Non-Cancelable Operating Leases	The following table summarizes the fixed, future minimum rental payments, excluding variable costs, for which the lease has commenced at December 31 st 2019 2018 2020 $ 43,529 2019 $ 38,769 2021 46,038 2020 38,267 2022 41,624 2021 34,307 2023 39,915 2022 32,312 2024 35,400 2023 30,180 Thereafter 776,205 Thereafter 670,147 Total undiscounted rental payments 982,711 Total undiscounted rental payments $ 843,982 Less imputed interest 511,077 Total lease liabilities $ 471,634

Unconsolidated Entities (Tables

Unconsolidated Entities (Tables)	12 Months Ended
	Dec. 31, 2019
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 unconsolidated entities at December 31 (in thousands): 2019 2018 Unconsolidated co-investment ventures $ 5,873,784 $ 5,407,838 Other ventures 363,587 337,456 Total $ 6,237,371 $ 5,745,294
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in and Advances to our Unconsolidated Entities	The following table summarizes the key property information, financial position and operating information of our unconsolidated co-investment ventures (not our proportionate share) and the amounts we recognized in the Consolidated Financial Statements related to our unconsolidated co-investment ventures at December 31 and for the years ended December 31 (dollars and square feet in millions): U.S. Other Americas Europe Asia Total As of: 2019 2018 2019 (1) 2018 2019 2018 2019 (2) 2018 2019 2018 Key property information: Ventures 1 1 2 2 3 3 3 2 9 8 Operating properties 605 566 214 209 731 669 144 125 1,694 1,569 Square feet 99 91 44 39 176 159 59 51 378 340 Financial position: Total assets ($) 8,408 7,303 2,707 2,137 14,677 13,028 8,758 7,089 34,550 29,557 Third-party debt ($) 2,130 2,094 769 838 3,213 2,548 3,296 2,668 9,408 8,148 Total liabilities ($) 2,514 2,350 801 862 4,575 3,615 3,751 3,006 11,641 9,833 Our investment balance ($) (3) 1,728 1,457 658 554 2,800 2,784 688 613 5,874 5,408 Our weighted average ownership (4) 27.3 % 27.4 % 39.1 % 44.4 % 30.2 % 33.2 % 15.1 % 15.1 % 27.1 % 28.3 % U.S. Other Americas Europe Asia Total Operating Information: 2019 2018 2017 2019 (1) 2018 2017 2019 2018 2017 2019 2018 2017 2019 2018 2017 For the years ended: Total revenues ($) 738 676 533 266 217 245 1,099 1,101 1,030 514 457 372 2,617 2,451 2,180 Net earnings ($) 128 150 139 91 63 71 311 509 406 49 88 182 579 810 798 Our earnings from unconsolidated co-investment ventures, net ($) 38 45 33 32 26 26 102 193 146 10 15 29 182 279 234 ( 1 ) PBLV and our other Brazilian joint ventures are combined as one venture for the purpose of this table. ( 2 ) As discussed above, the formation of PCCLF in 2019 increased the number of ventures in Asia. ( 3 ) Prologis’ investment balance is presented at our adjusted basis derived from the ventures’ U.S. GAAP information. The difference between our ownership interest of a venture’s equity and our investment balance at December 31, 2019 and 2018, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018 ($611.5 million and $635.9 million, respectively); (ii) recording additional costs associated with our investment in the venture ($87.2 million and $94.4 million, respectively); (iii) receivables, principally for fees and promotes ($152.0 million and $166.7 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to NPR, as discussed above. For deferred gains from partial sales recorded prior to January 1, 2018, we recognize these gains over the lives of the underlying real estate properties or at the time of disposition to a third party. ( 4 ) Represents our weighted average ownership interest in all unconsolidated co-investment ventures based on each entity’s contribution of total assets before depreciation, net of other liabilities.
Information About Investments in Co-investment Ventures by Property Funds	The following table summarizes our investments in the individual co-investment ventures at December 31 (dollars in thousands): Ownership Percentage Investment in and Advances to Co-Investment Venture 2019 2018 2019 2018 Prologis Targeted U.S. Logistics Fund, L.P. (“USLF”) 27.3 % 27.4 % $ 1,728,043 $ 1,456,427 FIBRA Prologis (1) 47.1 % 46.7 % 517,347 536,377 Prologis European Logistics Partners Sàrl (“PELP”) (2) 50.0 % 50.0 % 1,595,331 1,517,115 Prologis European Logistics Fund (“PELF”) 24.1 % 27.9 % 1,144,831 1,198,904 Prologis UK Logistics Venture (“UKLV”) (2) 15.0 % 15.0 % 59,937 68,002 Nippon Prologis REIT, Inc. (“NPR”) (3) 15.1 % 15.1 % 544,333 472,035 Prologis China Core Logistics Fund, LP (“PCCLF”) (4) 15.6 % - 59,984 - Prologis China Logistics Venture I, LP, II, LP and III, LP (“Prologis China Logistics Venture”) (2)(4) 15.0 % 15.0 % 83,285 141,071 Prologis Brazil Logistics Venture (“PBLV”) and other joint ventures (2)(5) 20.0 % 10.0 % 140,693 17,907 Total $ 5,873,784 $ 5,407,838 (1) At December 31, 2019, we owned 305.8 million units of FIBRA Prologis that had a closing price of Ps 41.07 ($2.18) per unit on the Mexican Stock Exchange. We have granted FIBRA Prologis a right of first refusal with respect to stabilized properties that we plan to sell in Mexico. ( 2 ) We have one partner in each of these co-investment ventures. (3 ) At December 31, 2019, we owned 0.4 million units of NPR that At December 31, 2019 and 2018, we had receivables from NPR of $136.3 million and $122.0 million, respectively, related to customer security deposits that originated through a leasing company owned by us that pertain to properties previously contributed to NPR. We have a corresponding payable to NPR’s customers in Other Liabilities (4) In 2019, we formed PCCLF, an unconsolidated co-investment venture investing in properties in China, with eight partners. At that time, we and our existing partner in Prologis China Logistics Venture I, LP received equity interests in PCCLF for the contribution of the existing portfolio of assets consisting of 79 properties totaling 22 million square feet. The seven new partners contributed cash, which was used to redeem a portion of our existing partner’s investment in PCCLF. We maintained our ownership percentage in these assets subsequent to the contribution and therefore did not recognize a gain. (5) In 2019, we formed PBLV and hold an 20.0% equity ownership in the venture. In the table above, we reflect our ownership in PBLV and exclude our 10.0% ownership in the other joint ventures. See Note 4 for more information on PBLV.
Summary of Strategic Capital Revenues Recognized in Consolidated Statements of Income Related to Co-Investment Ventures	The following table summarizes the Strategic Capital Revenues 2019 2018 2017 Recurring fees $ 266,615 $ 230,746 $ 195,513 Transactional fees 57,334 55,816 48,225 Promote revenue (1) 165,635 116,290 127,519 Total strategic capital revenues from unconsolidated co-investment ventures (2) $ 489,584 $ 402,852 $ 371,257 (1) Includes promote revenue earned from unconsolidated co-investment venture s principally in Europe i n 2019, China and Europe in 2018 and the U.S. in 2017 . (2) These amounts exclude strategic capital revenues from other ventures.

Assets Held for Sale or Contr_2

Assets Held for Sale or Contribution (Tables)	12 Months Ended
	Dec. 31, 2019
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 at December 31 (dollars and square feet in thousands): 2019 2018 Number of operating properties 28 57 Square feet 9,371 8,236 Total assets held for sale or contribution $ 720,685 $ 622,288 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 41,994 $ 12,972

Other Assets and Other Liabil_2

Other Assets and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2019
Text Block [Abstract]
Schedule of Other Assets	The following table summarizes our other assets, net of amortization and depreciation, if applicable, at December 31 (in thousands): 2019 2018 Rent leveling $ 404,516 $ 346,116 Leasing commissions 381,013 346,852 Acquired lease intangibles 314,179 450,690 Value added taxes receivable 120,923 97,047 Prepaid assets 109,676 108,581 Fixed assets 107,468 112,211 Accounts receivable 85,835 107,141 Other notes receivable 35,308 35,338 Management contracts 14,888 16,257 Derivative assets 13,266 22,731 Deferred income taxes 4,595 8,767 Other 120,190 124,188 Total $ 1,711,857 $ 1,775,919
Schedule of Other Liabilities	The following table summarizes our other liabilities, net of amortization, if applicable, at December 31 (in thousands): 2019 2018 Tenant security deposits $ 269,841 $ 240,467 Unearned rents 106,152 86,083 Income tax liabilities 65,652 59,766 Environmental liabilities 63,577 88,863 Acquired lease intangibles 58,525 76,087 Liabilities associated with assets held for sale or contribution 41,994 12,972 Indemnification liability 39,830 36,476 Derivative liabilities 23,851 8,159 Deferred income 11,971 10,088 Value added taxes payable 10,036 11,037 Other 186,172 136,448 Total $ 877,601 $ 766,446
Schedule of Amortization Expense and Rental Revenues	The following table summarizes the expected future amortization of leasing commissions and forgone rent (included in acquired lease intangibles) into amortization expense and above and below market leases (included in acquired lease intangibles) and rent leveling net assets into rental revenues, all based on the balances at December 31, 2019 (in thousands): Amortization Expense Net Decrease (Increase) to Rental Revenues 2020 $ 170,807 $ (16,377 ) 2021 134,137 20,076 2022 104,372 41,895 2023 79,452 49,773 2024 56,699 46,305 Thereafter 125,877 228,167 Total $ 671,344 $ 369,839

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt Summary	All debt is incurred by the OP or its consolidated subsidiaries. The following table summarizes our debt at December 31 (dollars in thousands): 2019 2018 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding (2) Credit facilities 0.4 % $ 184,255 3.4 % $ 50,500 Senior notes (3) 2.4 % 9,660,570 2.7 % 8,304,147 Term loans and unsecured other 0.9 % 1,441,882 1.8 % 1,921,428 Secured mortgage (4) 3.4 % 619,170 5.1 % 813,740 Total 2.2 % $ 11,905,877 2.7 % $ 11,089,815 (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) We borrow in the functional currencies of the countries where we invest. Included in the outstanding balances at December 31 were borrowings denominated in the following currencies: 2019 2018 Amount Outstanding % of Total Amount Outstanding % of Total British pound sterling $ 656,549 5.5 % $ 635,972 5.8 % Canadian dollar 279,730 2.3 % 266,337 2.4 % Euro 6,128,986 51.5 % 4,893,693 44.1 % Japanese yen 2,329,381 19.6 % 1,951,844 17.6 % U.S. dollar 2,511,231 21.1 % 3,341,969 30.1 % Total $ 11,905,877 $ 11,089,815 (3) Senior notes are due from January 2020 to September 2049 with effective interest rates ranging from -0.1% to 4.5% at December 31, 2019. The senior notes of €400 million ($445.9 million) bearing a floating rate of Euribor plus 0.3% (4) Secured mortgage debt is due from April 2020 to November 2027 with effective interest rates ranging from 0.2% to 7.8% at December 31, 2019. The debt was principally secured by 87 operating properties, one prestabilized property and one property under development with an aggregate undepreciated cost of $1.7 billion at December 31, 2019.
Credit Facilities	The following table summarizes information about our Credit Facilities (dollars in millions): 2019 2018 2017 For the years ended December 31: Weighted average daily interest rate 1.5 % 3.1 % 1.3 % Weighted average daily borrowings $ 85 $ 253 $ 111 Maximum borrowings outstanding at any month-end $ 257 $ 485 $ 317 At December 31: Aggregate lender commitments $ 3,946 $ 3,470 $ 3,490 Less: Borrowings outstanding 184 51 317 Outstanding letters of credit 36 31 33 Current availability $ 3,726 $ 3,388 $ 3,140
Schedule of Debt	The following table summarizes the issuances of senior notes during 2019 (principal in thousands): Initial Borrowing Date Principal (1) Stated Interest Rate Maturity Date Borrowing Currency USD March ¥ 10,000,000 $ 90,531 1.2% March 2039 September € 1,800,000 $ 1,987,200 0.3% – 1.5% September 2027 – 2049 (1) The exchange rate used to calculate into U.S. dollars was the spot rate at the settlement date.
Summary of Outstanding Term Loans	The following table summarizes our outstanding term loans at December 31 (dollars and borrowing currency in thousands): Term Loan Borrowing Currency Initial Borrowing Date Lender Commitment at 2019 Amount Outstanding at 2019 Amount Outstanding at 2018 Interest Rate Maturity Date Borrowing Currency USD USD USD 2017 Term Loan (1) USD, EUR, JPY and GBP June 2014 $ 500,000 $ 500,000 $ - $ 500,000 LIBOR + 0.9% May 2020 2015 Canadian Term Loan CAD December 2015 $ 170,506 $ 131,214 131,214 125,107 CDOR + 0.9% February 2023 2016 Yen Term Loan (2) JPY August 2016 - - - 909,813 Yen LIBOR + 0.7% August 2022 – 2023 March 2017 Yen Term Loan JPY March 2017 ¥ 12,000,000 $ 110,553 110,553 109,178 0.9% and 1.0% March 2027 – 2028 October 2017 Yen Term Loan JPY October 2017 ¥ 10,000,000 $ 92,127 92,127 90,981 0.9% October 2032 December 2018 Yen Term Loan JPY December 2018 ¥ 20,000,000 $ 184,254 184,254 181,963 1.2% and Yen LIBOR + 0.7% December 2031 – June 2033 January 2019 Yen Term Loan JPY January 2019 ¥ 15,000,000 $ 138,191 138,191 - Yen LIBOR + 0.5% to 0.6% January 2028 – 2030 March 2019 Yen Term Loan (2) JPY March 2019 ¥ 85,000,000 $ 783,082 783,082 - Yen LIBOR + 0.4% March 2026 Subtotal 1,439,421 1,917,042 Debt issuance costs, net (8,484 ) (8,230 ) Total term loans $ 1,430,937 $ 1,908,812 (1) We may increase the borrowings on the 2017 Term Loan up to $1.0 billion, subject to obtaining additional lender commitments. We paid down $1.3 billion and $2.0 billion and reborrowed $777.2 million and $2.0 billion in 2019 and 2018, respectively. We may extend the maturity date twice, by one year each, subject to the satisfaction of certain conditions and the payment of an extension fee. (2) During 2019, we repaid the outstanding balance of ¥ 100.0 billion ($ 897.4 million) on our 2016 Yen Term Loan, primarily with the proceeds from the March 2019 Yen Term Loan . We have the ability to increase the March 2019 Yen Term Loan to ¥ 120.0 billion ($ 1.1 billion at December 31, 2019), subject to obtaining additional lender commitments.
Long-Term Debt Maturities	Scheduled principal payments due on our debt for each year through the period ended December 31, 2024, and thereafter were as follows at December 31, 2019 (in thousands): Unsecured Credit Senior Term Loans Secured Maturity Facilities Notes and Other Mortgage Total 2020 (1) $ - $ 449,360 $ 10,945 $ 75,448 $ 535,753 2021 (2) 184,255 786,380 - 95,646 1,066,281 2022 - 786,380 - 12,007 798,387 2023 - 850,000 131,214 33,981 1,015,195 2024 - 786,380 - 262,375 1,048,755 Thereafter - 6,080,150 1,308,207 141,989 7,530,346 Subtotal 184,255 9,738,650 1,450,366 621,446 11,994,717 Premiums (discounts), net - (46,568 ) - 498 (46,070 ) Debt issuance costs, net - (31,512 ) (8,484 ) (2,774 ) (42,770 ) Total $ 184,255 $ 9,660,570 $ 1,441,882 $ 619,170 $ 11,905,877 (1) As discussed above, in January 2020 we redeemed €400 million ($445.9 million) of senior notes. (2) Included in the 2021 maturities was the Revolver that can be extended until 2022.
Interest Expense	The following table summarizes the components of interest expense for the years ended December 31 (in thousands): 2019 2018 2017 Gross interest expense $ 271,451 $ 268,942 $ 328,228 Amortization of debt discounts (premiums), net 3,713 (590 ) (13,728 ) Amortization of debt issuance costs, net 13,293 13,243 14,479 Interest expense before capitalization $ 288,457 $ 281,595 $ 328,979 Capitalized amounts (48,504 ) (52,454 ) (54,493 ) Net interest expense $ 239,953 $ 229,141 $ 274,486 Total cash paid for interest, net of receipts and amounts capitalized $ 214,375 $ 205,485 $ 278,313
Activity Related to Repurchase of Debt and Net Loss on Early Extinguishment of Debt	The following table summarizes the activity related to the repurchase of debt and the net loss on early extinguishment of debt for 2019 and 2017 (in millions): 2019 2017 Senior notes: Original principal amount $ 656.3 $ 1,495.3 Cash purchase price $ 669.1 $ 1,566.5 Secured mortgage debt: Original principal amount $ 432.8 $ 538.3 Cash repayment price $ 432.9 $ 538.3 Total: Original principal amount $ 1,089.1 $ 2,033.6 Cash purchase/repayment price $ 1,102.0 $ 2,104.8 Losses on early extinguishment of debt $ 16.1 $ 68.4

Stockholders' Equity of Prolo_2

Stockholders' Equity of Prologis, Inc. (Tables)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Summary of Taxability of Common and Preferred Stock Dividends	The following summarizes the taxability of our common and preferred stock dividends for the years ended December 31: 2019 (1) 2018 2017 Common Stock: Ordinary income $ 2.08 $ 1.34 $ 1.23 Qualified dividend 0.00 0.03 0.01 Capital gains 0.04 0.55 0.52 Total distribution $ 2.12 $ 1.92 $ 1.76 Preferred Stock – Series Q: Ordinary income $ 4.00 $ 2.98 $ 2.91 Qualified dividend 0.01 0.06 0.08 Capital gains 0.26 1.23 1.28 Total dividend $ 4.27 $ 4.27 $ 4.27 (1) Taxability for 2019 is estimated.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2019
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 total liabilities at December 31 (dollars in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities 2019 2018 2019 2018 2019 2018 2019 2018 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 2,677,846 $ 2,697,095 $ 6,077,016 $ 6,072,087 $ 99,397 $ 92,782 Other consolidated entities (1) various various 97,548 139,374 849,620 1,045,202 85,186 53,145 Prologis, L.P. 2,775,394 2,836,469 6,926,636 7,117,289 184,583 145,927 Limited partners in Prologis, L.P. (2)(3) 643,263 666,326 - - - - Prologis, Inc. $ 3,418,657 $ 3,502,795 $ 6,926,636 $ 7,117,289 $ 184,583 $ 145,927 ( 1 ) Includes our two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. The limited partnership units outstanding at December 31, 2019 and 2018 were exchangeable into cash or, at our option, 0.3 million and 0.7 million shares of the Parent’s common stock, respectively. ( 2 ) We had 8.6 million and 8.8 million Class A Units that were convertible into 8.1 million and 8.4 million limited partnership units of the OP at December 31, 2019 and 2018, respectively. See Note 10 for further discussion of our Class A Units. ( 3 ) At December 31, 2019 and 2018, excluding the Class A Units, there were limited partnership units in the OP that were exchangeable into cash or, at our option, 6.2 million and 7.2 million shares of the Parent’s common stock, respectively. Also included are the vested OP Long-Term Incentive Plan Units associated with our long-term compensation plans. See further discussion of Long-Term Incentive Plan Units in Note 12.

Long-Term Compensation (Tables)

Long-Term Compensation (Tables)	12 Months Ended
	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Assumptions Used for Each Grant	The following table details the assumptions used for each grant based on the year it was granted (dollars in thousands): 2019 2018 2017 Risk free interest rate 2.6 % 2.1 % 1.5 % Expected volatility 20.0 % 16.5 % 22.2 % Aggregate fair value $ 21,200 $ 23,300 $ 20,400
POP LTIP Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options, RSU and Performance Share Awards	The performance criteria were met for the 2017 – 2019, 2016 – 2018 and 2015 – 2017 performance periods at the end of the initial three-year 2017 – 2019 2016 – 2018 (1) 2015 – 2017 Performance pool $ 75,000 $ 88,317 $ 110,230 Common stock shares 266 423 582 POP LTIP Units and LTIP Units 548 924 1,170 Average price used to determine number of awards $ 92.21 $ 65.57 $ 62.65 (1) The 2016 – 2018 performance period includes amounts and awards earned at December 31, 2019 related to the compensation pool in the excess of the Initial Award.
Restricted Stock Units (RSUs) [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 year ended December 31, 2019 (units in thousands): Unvested RSUs Weighted Average Grant Date Fair Value Balance at January 1, 2019 1,255 $ 54.48 Granted 648 74.58 Vested and distributed (681 ) 51.82 Forfeited (57 ) 62.93 Balance at December 31, 2019 1,165 $ 68.44
Long Term Incentive Plan 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 year ended December 31, 2019 (units in thousands): Vested LTIP Units Unvested LTIP Units Unvested Weighted Average Grant Date Fair Value Balance at January 1, 2019 3,293 2,177 $ 56.05 Granted - 1,223 75.84 Forfeited - (21 ) 66.77 Vested LTIP Units 1,134 (1,134 ) 54.41 Vested POP LTIP Units (1) 391 - N/A Unvested POP LTIP Units (1) - 433 21.17 Conversion to common limited partnership units (1,104 ) - N/A Balance at December 31, 2019 3,714 2,678 $ 60.06 (1) Vested and unvested units were based on the POP performance criteria being met for the 2016 – 2018 performance period and represented the earned award amounts. Vested and unvested units are included in the POP award table above.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Components of Earnings Before Income Taxes	The following table summarizes the components of earnings before income taxes for the years ended December 31 (in thousands): 2019 2018 2017 Domestic $ 981,188 $ 1,078,678 $ 1,207,503 International 795,175 807,612 608,065 Earnings before income taxes $ 1,776,363 $ 1,886,290 $ 1,815,568
Components of Provision for Income Tax	The following table summarizes the components of the provision for income taxes for the years ended December 31 (in thousands): 2019 2018 2017 Current income tax expense: U.S. federal $ 3,232 $ 1,727 $ 214 International 41,855 50,731 45,185 State and local 17,209 9,424 14,215 Total current income tax expense 62,296 61,882 59,614 Deferred income tax expense (benefit): U.S. federal (208 ) (317 ) 2,533 International 12,429 1,765 (7,538 ) Total deferred income tax expense (benefit) 12,221 1,448 (5,005 ) Total income tax expense $ 74,517 $ 63,330 $ 54,609
Deferred Income Tax Assets and Liabilities	The following table summarizes the deferred income tax assets and liabilities at December 31 (in thousands): 2019 2018 Gross deferred income tax assets: NOL carryforwards $ 287,516 $ 336,485 Basis difference – real estate properties 42,472 55,198 Basis difference – equity investments 445 5,448 Basis difference – intangibles - 1,076 Section 163(j) interest limitation 480 4,771 Capital loss carryforward 1 1 Other – temporary differences 2,754 3,487 Total gross deferred income tax assets 333,668 406,466 Valuation allowance (299,092 ) (379,987 ) Gross deferred income tax assets, net of valuation allowance 34,576 26,479 Gross deferred income tax liabilities: Basis difference – real estate properties 78,113 69,157 Basis difference – equity investments 12,622 2,380 Other – temporary differences 1,898 2,941 Total gross deferred income tax liabilities 92,633 74,478 Net deferred income tax liabilities $ 58,057 $ 47,999
Summary of Operating Loss Carryforwards	At December 31, 2019, we had NOL carryforwards as follows (in thousands): U.S. Europe Mexico Japan Other Gross NOL carryforward $ 72,880 $ 652,026 $ 292,213 $ 117,500 $ 36,062 Tax-effected NOL carryforward 17,781 149,197 90,116 21,634 8,788 Valuation allowance (5,542 ) (143,552 ) (90,116 ) (21,634 ) (7,188 ) Net deferred tax asset – NOL carryforward $ 12,239 $ 5,645 $ - $ - $ 1,600 Expiration periods 2022 – indefinite 2020 – indefinite 2020 – 2030 2020 – 2029 2020 – indefinite

Earnings Per Common Share or _2

Earnings Per Common Share or Unit (Tables)	12 Months Ended
	Dec. 31, 2019
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 for the years ended December 31 was as follows (in thousands, except per share and unit amounts): Prologis, Inc. 2019 2018 2017 Net earnings attributable to common stockholders – Basic $ 1,566,950 $ 1,643,426 $ 1,641,931 Net earnings attributable to exchangeable limited partnership units (1) 46,986 49,743 46,280 Adjusted net earnings attributable to common stockholders – Diluted $ 1,613,936 $ 1,693,169 $ 1,688,211 Weighted average common shares outstanding – Basic 630,580 567,367 530,400 Incremental weighted average effect on exchange of limited partnership units (1) 19,154 17,768 15,945 Incremental weighted average effect of equity awards 5,169 5,104 5,955 Weighted average common shares outstanding – Diluted (2) 654,903 590,239 552,300 Net earnings per share attributable to common stockholders: Basic $ 2.48 $ 2.90 $ 3.10 Diluted $ 2.46 $ 2.87 $ 3.06 Prologis, L.P. 2019 2018 2017 Net earnings attributable to common unitholders $ 1,613,615 $ 1,692,313 $ 1,686,945 Net earnings attributable to Class A Units (20,454 ) (24,465 ) (26,642 ) Net earnings attributable to common unitholders – Basic 1,593,161 1,667,848 1,660,303 Net earnings attributable to Class A Units 20,454 24,465 26,642 Net earnings attributable to exchangeable other limited partnership units 321 856 1,266 Adjusted net earnings attributable to common unitholders – Diluted $ 1,613,936 $ 1,693,169 $ 1,688,211 Weighted average common partnership units outstanding – Basic 641,128 575,798 536,335 Incremental weighted average effect on exchange of Class A Units 8,231 8,446 8,607 Incremental weighted average effect on exchange of other limited partnership units 375 891 1,403 Incremental weighted average effect of equity awards of Prologis, Inc. 5,169 5,104 5,955 Weighted average common units outstanding – Diluted (2) 654,903 590,239 552,300 Net earnings per unit attributable to common unitholders: Basic $ 2.48 $ 2.90 $ 3.10 Diluted $ 2.46 $ 2.87 $ 3.06 (1) The exchangeable limited partnership units include the units as discussed in Note 11. Earnings allocated to the exchangeable OP units not held by the Parent have been included in the numerator and exchangeable common 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 weighted average potentially dilutive shares and units outstanding for the years ended December 31 consisted of the following: 2019 2018 2017 Class A Units 8,231 8,446 8,607 Other limited partnership units 375 891 1,403 Equity awards 7,933 8,175 9,183 Prologis, L.P. 16,539 17,512 19,193 Common limited partnership units 10,548 8,431 5,935 Prologis, Inc. 27,087 25,943 25,128

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2019
Schedule of Fair Value of Derivative Financial Instruments	The following table presents the fair value of our derivative financial instruments recognized within Other Assets Other Liabilities 2019 2018 Asset Liability Asset Liability Undesignated derivatives Foreign currency contracts Forwards Brazilian real $ 181 $ 49 $ 80 $ - British pound sterling 731 3,823 2,266 324 Canadian dollar 523 1,855 3,336 53 Chinese renminbi - 81 - - Euro 7,135 2,034 7,895 1,922 Japanese yen 3,889 97 3,334 1,318 Mexican peso - - 159 - Swedish krona - 797 - - Interest rate swaps U.S. dollar - - 27 - Designated derivatives Foreign currency contracts Net investment hedges Brazilian real - - - 3,165 British pound sterling 807 13,189 - 949 Canadian dollar - 1,926 5,634 - Interest rate swaps Cash flow hedges Euro - - - 428 Total fair value of derivatives $ 13,266 $ 23,851 $ 22,731 $ 8,159
Summary of Undesignated Financial Instruments Exercised and Realized and Unrealized Gains (Losses) in Foreign Currency and Derivative Gains (Losses) Net	The following table summarizes the undesignated derivative financial instruments exercised and associated realized and unrealized gains (losses) in Foreign Currency and Derivative Gains (Losses), Net 2019 2018 2017 Exercised contracts 115 89 44 Realized gains (losses) on the matured, expired or settled contracts $ 28 $ (3 ) $ 13 Unrealized gains (losses) on the change in fair value of outstanding contracts $ (10 ) $ 29 $ (51 )
Summary of Activity in Interest Rate Swaps	The following table summarizes the activity of our interest rate swaps designated as cash flow hedges for the years ended December 31 2019 2018 2017 EUR CAD EUR USD Total CAD Notional amounts at January 1 $ 500 $ 271 $ - $ - $ 271 $ 271 New contracts (1) - - 500 300 800 - Matured, expired or settled contracts (1)(2) (500 ) (271 ) - (300 ) (571 ) - Notional amounts at December 31 $ - $ - $ 500 $ - $ 500 $ 271 (1) During 2018, we entered into two interest rate swap contracts with an aggregated notional amount of €400.0 million ( (2) During 2018, we repaid CAD 201.4 million ($158.9 million) on our 2015 Canadian Term Loan. At that time, we settled the interest rate swaps related to the 2015 Canadian Term Loan as we determined it was no longer probable that we would continue to have the future cash flows as originally hedged. As a result, the $ 12.5 million gain in AOCI/L at the time of settlement was reclassified to Interest Expense during 2018.
Summary of Debt and Accrued Interest, Designated as Nonderivative Financial Instrument	The following table summarizes our debt and accrued interest, designated as a hedge of our net investment in international subsidiaries at December 31 (in millions): 2019 2018 2017 British pound sterling $ 329 $ 269 $ 436 Euro $ 850 $ 2,645 $ 3,620
Summary of Recognized Unrealized Gains (Losses) in Foreign Currency and Derivative Gains (Losses) Net on Remeasurement of Unhedged Portion of Debt and Accrued Interest	The following table summarizes the unrealized gains (losses) in Foreign Currency and Derivative Gains (Losses), Net 2019 2018 2017 Unrealized gains (losses) on the unhedged portion $ (64 ) $ 96 $ (23 )
Summary of Changes in Other Comprehensive Income (Loss)	The following table presents these changes in Other Comprehensive Income (Loss) 2019 2018 2017 Derivative net investment hedges $ (22,600 ) $ 26,457 $ (12,762 ) Nonderivative net investment hedges 141,675 151,083 (477,755 ) Cumulative translation adjustment (20,593 ) (368,130 ) 553,972 Total foreign currency translation gains (losses), net $ 98,482 $ (190,590 ) $ 63,455 Cash flow hedges (1) $ 4,665 $ (5,815 ) $ 12,726 Our share of derivatives from unconsolidated co-investment ventures (6,000 ) 4,492 9,865 Total unrealized gains (losses) on derivative contracts, net $ (1,335 ) $ (1,323 ) $ 22,591 Total change in other comprehensive income (loss) $ 97,147 $ (191,913 ) $ 86,046 (1) We estimate an additional expense of $4.2 million will be reclassified to Interest Expense
Carrying Amounts and Estimated Fair Values of Debt	The following table reflects the carrying amounts and estimated fair values of our debt at December 31 (in thousands): 2019 2018 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 184,255 $ 184,255 $ 50,500 $ 50,513 Senior notes 9,660,570 10,228,715 8,304,147 8,606,864 Term loans and unsecured other 1,441,882 1,463,841 1,921,428 1,946,335 Secured mortgage 619,170 651,047 813,740 849,417 Total $ 11,905,877 $ 12,527,858 $ 11,089,815 $ 11,453,129
Undesignated Derivatives [Member]
Foreign Currency Contracts Activity	The following table summarizes the activity of our undesignated foreign currency contracts for the years ended December 31 (in millions, except for weighted average forward rates and number of active contracts): 2019 2018 2017 CAD EUR GBP JPY SEK Other Total CAD EUR GBP JPY Other Total CAD EUR GBP JPY Total Notional amounts at January 1 $ 55 $ 314 $ 118 $ 177 $ - $ 5 $ 669 $ 56 $ 233 $ 132 $ 153 $ - $ 574 $ 38 $ 197 $ 78 $ 144 $ 457 New contracts 201 619 1,111 85 31 524 2,571 28 252 55 102 423 860 41 143 151 75 410 Matured, expired or settled contracts (136 ) (352 ) (1,051 ) (80 ) - (514 ) (2,133 ) (29 ) (171 ) (69 ) (78 ) (418 ) (765 ) (23 ) (107 ) (97 ) (66 ) (293 ) Notional amounts at December 31 $ 120 $ 581 $ 178 $ 182 $ 31 $ 15 $ 1,107 $ 55 $ 314 $ 118 $ 177 $ 5 $ 669 $ 56 $ 233 $ 132 $ 153 $ 574 Weighted average forward rate at December 31 1.32 1.13 1.32 103.39 9.42 1.28 1.21 1.32 105.17 1.29 1.17 1.29 106.25 Active contracts at December 31 40 53 50 44 20 24 35 24 34 24 29 20 34
Designated As Hedging Instrument [Member]
Foreign Currency Contracts Activity	The following table summarizes the activity of our foreign currency contracts designated as net investment hedges for the years ended December 31 2019 2018 2017 BRL CAD EUR GBP Total BRL CAD EUR GBP Total CAD GBP Total Notional amounts at January 1 $ 460 $ 100 $ - $ 127 $ 687 $ - $ 99 $ - $ - $ 99 $ 100 $ 46 $ 146 New contracts 489 97 420 649 1,655 1,568 100 1,053 127 2,848 99 127 226 Matured, expired or settled contracts (949 ) (100 ) (420 ) (389 ) (1,858 ) (1,108 ) (99 ) (1,053 ) - (2,260 ) (100 ) (173 ) (273 ) Notional amounts at December 31 $ - $ 97 $ - $ 387 $ 484 $ 460 $ 100 $ - $ 127 $ 687 $ 99 $ - $ 99 Weighted average forward rate at December 31 - 1.32 - 1.29 3.91 1.28 - 1.28 1.34 - Active contracts at December 31 - 2 - 5 1 2 - 2 2 -

Business Segments (Tables)

Business Segments (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Segment Reporting, Reconciliation of Revenues, Operating Income and Assets	The following reconciliations are presented in thousands: Years Ended December 31, 2019 2018 2017 Revenues: Real estate operations segment: U.S. $ 2,645,194 $ 2,173,279 $ 2,025,184 Other Americas 94,984 119,954 84,789 Europe 44,356 54,405 73,708 Asia 54,201 50,511 60,564 Total real estate operations segment 2,838,735 2,398,149 2,244,245 Strategic capital segment: U.S. 86,271 74,618 176,720 Other Americas 40,347 32,434 28,494 Europe 283,909 174,898 106,862 Asia 81,359 124,350 61,813 Total strategic capital segment 491,886 406,300 373,889 Total revenues 3,330,621 2,804,449 2,618,134 Segment net operating income: Real estate operations segment: U.S. (1) 1,953,727 1,621,665 1,519,164 Other Americas 69,393 89,044 58,842 Europe 27,525 34,807 51,277 Asia 40,675 38,425 33,234 Total real estate operations segment 2,091,320 1,783,941 1,662,517 Strategic capital segment: U.S. (1) (10,945 ) 4,712 106,471 Other Americas 27,369 19,874 16,811 Europe 246,213 136,240 68,127 Asia 44,588 88,434 27,339 Total strategic capital segment 307,225 249,260 218,748 Total segment net operating income 2,398,545 2,033,201 1,881,265 Reconciling items: General and administrative expenses (266,718 ) (238,985 ) (231,059 ) Depreciation and amortization expenses (1,139,879 ) (947,214 ) (879,140 ) Gains on dispositions of development properties and land, net 467,577 469,817 327,528 Gains on other dispositions of investments in real estate, net 390,241 371,179 855,437 Operating income 1,849,766 1,687,998 1,954,031 Earnings from unconsolidated entities, net 200,178 298,260 248,567 Interest expense (239,953 ) (229,141 ) (274,486 ) Interest and other income, net 24,213 14,663 13,731 Foreign currency and derivative gains (losses), net (41,715 ) 117,096 (57,896 ) Losses on early extinguishment of debt, net (16,126 ) (2,586 ) (68,379 ) Earnings before income taxes $ 1,776,363 $ 1,886,290 $ 1,815,568 December 31, 2019 2018 Segment assets: Real estate operations segment: U.S. $ 27,999,868 $ 27,666,200 Other Americas 1,332,237 1,712,862 Europe 1,379,579 1,040,061 Asia 879,072 1,012,253 Total real estate operations segment 31,590,756 31,431,376 Strategic capital segment (2) U.S. 14,529 15,802 Europe 25,280 25,280 Asia 359 455 Total strategic capital segment 40,168 41,537 Total segment assets 31,630,924 31,472,913 Reconciling items: Investments in and advances to unconsolidated entities 6,237,371 5,745,294 Assets held for sale or contribution 720,685 622,288 Lease right-of-use assets 111,439 - Cash and cash equivalents 1,088,855 343,856 Other assets 242,576 233,313 Total reconciling items 8,400,926 6,944,751 Total assets $ 40,031,850 $ 38,417,664 (1) This includes compensation, personnel costs and PPP awards for employees who were located in the U.S. but also support other geographies. (2) Represents management contracts and goodwill recorded in connection with business combinations associated with the Strategic Capital segment. Goodwill was $25.3

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data	The following table details our selected quarterly financial data (in thousands, except per share and unit data): Three Months Ended Prologis, Inc. March 31, June 30, September 30, December 31, 2019: Rental revenues $ 696,807 $ 700,689 $ 710,465 $ 723,857 Total revenues $ 772,052 $ 790,372 $ 942,181 $ 826,016 Rental expenses $ (188,068 ) $ (181,138 ) $ (180,864 ) $ (184,196 ) Gains on dispositions of development properties and land, net $ 42,441 $ 196,941 $ 63,935 $ 164,260 Gains on other dispositions of investments in real estate, net $ 145,767 $ 27,254 $ 59,379 $ 157,841 Operating income $ 376,590 $ 442,056 $ 471,480 $ 559,640 Consolidated net earnings $ 373,765 $ 410,826 $ 491,013 $ 426,242 Net earnings attributable to common stockholders $ 347,047 $ 383,784 $ 450,639 $ 385,480 Net earnings per share attributable to common stockholders – Basic (1) $ 0.55 $ 0.61 $ 0.71 $ 0.61 Net earnings per share attributable to common stockholders – Diluted (1)(2) $ 0.55 $ 0.60 $ 0.71 $ 0.61 2018: Rental revenues $ 555,943 $ 544,679 $ 608,974 $ 679,195 Total revenues $ 693,656 $ 621,276 $ 682,432 $ 807,085 Rental expenses $ (142,941 ) $ (133,329 ) $ (147,184 ) $ (177,194 ) Gains on dispositions of development properties and land, net $ 157,568 $ 63,669 $ 108,049 $ 140,531 Gains on other dispositions of investments in real estate, net $ 37,543 $ 30,592 $ 86,009 $ 217,035 Operating income $ 432,218 $ 281,555 $ 375,579 $ 598,646 Consolidated net earnings $ 391,959 $ 364,991 $ 375,520 $ 690,490 Net earnings attributable to common stockholders $ 365,902 $ 334,611 $ 346,345 $ 596,568 Net earnings per share attributable to common stockholders – Basic (1) $ 0.69 $ 0.63 $ 0.60 $ 0.95 Net earnings per share attributable to common stockholders – Diluted (1)(2) $ 0.68 $ 0.62 $ 0.60 $ 0.94 Prologis, L.P. 2019: Rental revenues $ 696,807 $ 700,689 $ 710,465 $ 723,857 Total revenues $ 772,052 $ 790,372 $ 942,181 $ 826,016 Rental expenses $ (188,068 ) $ (181,138 ) $ (180,864 ) $ (184,196 ) Gains on dispositions of development properties and land, net $ 42,441 $ 196,941 $ 63,935 $ 164,260 Gains on other dispositions of investments in real estate, net $ 145,767 $ 27,254 $ 59,379 $ 157,841 Operating income $ 376,590 $ 442,056 $ 471,480 $ 559,640 Consolidated net earnings $ 373,765 $ 410,826 $ 491,013 $ 426,242 Net earnings attributable to common unitholders $ 357,621 $ 395,470 $ 463,997 $ 396,527 Net earnings per unit attributable to common unitholders – Basic (1) $ 0.55 $ 0.61 $ 0.71 $ 0.61 Net earnings per unit attributable to common unitholders – Diluted (1)(2) $ 0.55 $ 0.60 $ 0.71 $ 0.61 2018: Rental revenues $ 555,943 $ 544,679 $ 608,974 $ 679,195 Total revenues $ 693,656 $ 621,276 $ 682,432 $ 807,085 Rental expenses $ (142,941 ) $ (133,329 ) $ (147,184 ) $ (177,194 ) Gains on dispositions of development properties and land, net $ 157,568 $ 63,669 $ 108,049 $ 140,531 Gains on other dispositions of investments in real estate, net $ 37,543 $ 30,592 $ 86,009 $ 217,035 Operating income $ 432,218 $ 281,555 $ 375,579 $ 598,646 Consolidated net earnings $ 391,959 $ 364,991 $ 375,520 $ 690,490 Net earnings attributable to common unitholders $ 376,425 $ 344,633 $ 356,765 $ 614,490 Net earnings per unit attributable to common unitholders – Basic (1) $ 0.69 $ 0.63 $ 0.60 $ 0.95 Net earnings per unit attributable to common unitholders – Diluted (1)(2) $ 0.68 $ 0.62 $ 0.60 $ 0.94 ( 1 ) Quarterly earnings per common share or unit amounts may not total to the annual amounts due to rounding and the changes in the number of weighted average common shares or units outstanding included in the calculation of basic and diluted shares or units. ( 2 ) Income allocated to the exchangeable OP units not held by the Parent has been included in the numerator and exchangeable OP units have been included in the denominator for the purpose of computing diluted earnings per share for all periods since the per share and unit is the same.

Description of the Business - A

Description of the Business - Additional Information (Detail) shares in Millions	12 Months Ended
	Dec. 31, 2019Segmentshares
Description Of Business And Basis Of Presentation [Line Items]
Number of reportable segments | Segment	2
Unaffiliated Investors and Certain Current and Former Directors and Officers [Member]
Description Of Business And Basis Of Presentation [Line Items]
Percentage of common limited partnership interest	2.77%
General Partner | Prologis Limited Partnership [Member]
Description Of Business And Basis Of Presentation [Line Items]
Percentage of ownership in operating partnership	97.23%
Preferred [Member] | Prologis Limited Partnership [Member]
Description Of Business And Basis Of Presentation [Line Items]
Percentage of ownership in operating partnership	100.00%
Class A Common [Member]
Description Of Business And Basis Of Presentation [Line Items]
Class of common limited partnership units designated as class A common units | shares	8.6

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Significant Accounting Policies [Line Items]
Consolidation percentage if not wholly owned but controlled									less than 100% of the equity
Percentage of occupancy for stabilization									90.00%
Period after completion of construction for commencement of depreciation									1 year
Estimated useful lives									40 years
Weighted average lease term period									66 months
Depreciation commencement description									Depreciation on development buildings commences when the asset is ready for its intended use, which we define as the earlier of stabilization (90% occupied) or one year after completion of construction.
Threshold percentage to recognize gain or loss on transactions in consolidated entities	100.00%								100.00%
Percentage of taxable income distribute									100.00%
Rental	$ 723,857	$ 710,465	$ 700,689	$ 696,807	$ 679,195	$ 608,974	$ 544,679	$ 555,943	$ 2,831,818	$ 2,388,791	$ 2,225,141
Rental Revenue [Member]
Schedule Of Significant Accounting Policies [Line Items]
Rental										1,900,000	1,700,000
Rental Recoveries [Member]
Schedule Of Significant Accounting Policies [Line Items]
Rental										529,900	487,300
Other Assets [Member]
Schedule Of Significant Accounting Policies [Line Items]
Capitalized cost										$ 21,200	$ 23,800
Capital Improvements [Member] | Minimum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives									5 years
Capital Improvements [Member] | Maximum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives									7 years
Standard Tenant Improvements [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives									10 years
Depreciable and Land Improvements [Member] | Minimum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives									15 years
Depreciable and Land Improvements [Member] | Maximum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives									25 years
Operating Properties [Member] | Minimum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives									25 years
Operating Properties [Member] | Maximum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives									35 years

DCT Transaction - Additional In

DCT Transaction - Additional Information (Detail) - DCT Transaction [Member] ft² in Millions, $ in Millions	Aug. 22, 2018USD ($)ft²aProperty
Business Acquisition [Line Items]
Business acquisition, date of acquisition agreement	Aug. 22, 2018
Business acquisition consideration transferred | $	$ 8,500
Business acquisition stock conversion ratio	1.02
Number of operating properties acquired | Property	408
Number of operating properties under development | Property	10
Square feet of properties | ft²	68
Area of properties under development | ft²	2.8
Acquisition of real estate properties, acres of land parcels | a	305
Area of properties land parcels with potential build out | ft²	4.5
Fair value of Prologis shares and units issued | $	$ 6,557
Transaction costs | $	$ 50

DCT Transaction - Schedule of A

DCT Transaction - Schedule of Aggregate Equity Consideration (Detail) - DCT Transaction [Member] $ / shares in Units, shares in Thousands, $ in Millions	Aug. 22, 2018USD ($)$ / sharesshares
Business Acquisition [Line Items]
Number of Prologis shares and units issued upon conversion of DCT shares and units at August 21, 2018 | shares	99,730
Multiplied by price of Prologis' common stock on August 21, 2018 | $ / shares	$ 65.75
Fair value of Prologis shares and units issued | $	$ 6,557

DCT Transaction - Schedule of P

DCT Transaction - Schedule of Purchase Price Allocated to DCT Net Tangible and Identifiable Intangible Assets Acquired and Liabilities Assumed (Detail) - DCT Transaction [Member] $ in Millions	Aug. 22, 2018USD ($)
Business Acquisition [Line Items]
Net investments in real estate	$ 8,362
Intangible assets, net of intangible liabilities	292
Cash and other assets	24
Debt	(1,863)
Accounts payable, accrued expenses and other liabilities	(143)
Noncontrolling interests	(65)
Total purchase price, including transaction costs	$ 6,607

Real Estate - Investments in Re

Real Estate - Investments in Real Estate Properties (Detail) ft² in Thousands, $ in Thousands	Dec. 31, 2019USD ($)ft²aBuilding	Dec. 31, 2018USD ($)ft²aBuilding
Real Estate Properties [Line Items]
Total investments in real estate properties	$ 35,224,414	$ 34,586,987
Less accumulated depreciation	5,437,662	4,656,680
Net investments in real estate properties	29,786,752	29,930,307
Improved Land [Member]
Real Estate Properties [Line Items]
Total investments in real estate properties	$ 8,220,208	$ 8,044,888
Building and Improvements [Member]
Real Estate Properties [Line Items]
Square feet of properties | ft²	354,297	354,762
Number of buildings | Building	1,876	1,858
Total investments in real estate properties	$ 23,067,625	$ 22,587,267
Development Portfolio, Including Cost of Land: Pre-stabilized [Member]
Real Estate Properties [Line Items]
Square feet of properties | ft²	9,133	8,709
Number of buildings | Building	28	30
Total investments in real estate properties	$ 784,584	$ 828,064
Properties Under Development [Member]
Real Estate Properties [Line Items]
Square feet of properties | ft²	26,893	27,715
Number of buildings | Building	77	70
Total investments in real estate properties	$ 1,084,683	$ 1,314,737
Land [Member]
Real Estate Properties [Line Items]
Square feet of properties | a	4,411	4,929
Total investments in real estate properties	$ 1,101,646	$ 1,192,220
Other Real Estate Investments [Member]
Real Estate Properties [Line Items]
Total investments in real estate properties	$ 965,668	$ 619,811

Real Estate - Investments in _2

Real Estate - Investments in Real Estate Properties (Parenthetical) (Detail)	Dec. 31, 2019a	Dec. 31, 2018aProperty
Land [Member]
Real Estate Properties [Line Items]
Square feet of properties | a	4,411	4,929
Assets Held for Sale or Contribution [Member]
Real Estate Properties [Line Items]
Number of operating properties acquired | Property		49

Real Estate - Summary of Acquis

Real Estate - Summary of Acquisition (Detail) ft² in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)ft²aProperty	Dec. 31, 2018USD ($)ft²aProperty	Dec. 31, 2017USD ($)ft²aProperty
Business Acquisition [Line Items]
Number of operating properties | Property	22	20	16
Square feet | ft²	1,405	4,757	6,859
Acquisition cost of net investments in real estate properties | $	$ 1,074,815	$ 1,008,718	$ 1,139,410
Acquisitions of Properties from Third Parties [Member] | Land [Member]
Business Acquisition [Line Items]
Acres of land | a	1,269	1,210	1,392

Real Estate - Summary of Acqu_2

Real Estate - Summary of Acquisition (Parenthetical) (Detail) $ in Thousands, R$ in Billions	1 Months Ended		12 Months Ended
	Aug. 31, 2017USD ($)aProperty	Aug. 31, 2017BRL (R$)aProperty	Dec. 31, 2019USD ($)a	Dec. 31, 2018USD ($)a	Dec. 31, 2017USD ($)
Business Acquisition [Line Items]
Acquisition cost of properties | $			$ 1,074,815	$ 1,008,718	$ 1,139,410
BRAZIL
Business Acquisition [Line Items]
Payment to acquire interest in joint venture	$ 381,700	R$ 1.2
Other Real Estate Investment
Business Acquisition [Line Items]
Acquisition cost of properties | $			$ 302,900	$ 72,300	$ 50,500
Prestabilized Properties [Member] | BRAZIL
Business Acquisition [Line Items]
Number of buildings | Property	2	2
Operating Properties [Member] | BRAZIL
Business Acquisition [Line Items]
Number of buildings | Property	12	12
Land [Member]
Business Acquisition [Line Items]
Square feet | a			4,411	4,929
Land [Member] | BRAZIL
Business Acquisition [Line Items]
Square feet | a	531	531

Real Estate - Additional Inform

Real Estate - Additional Information (Detail) ft² in Millions, $ in Billions	Feb. 04, 2020USD ($)ft²Property	Dec. 31, 2019Ground	Dec. 31, 2018
Real Estate Properties [Line Items]
Lessor, weighted average lease term remaining		50 months	52 months
Number of ground and office space leases | Ground		130
Weighted average remaining lease term		33 years	28 years
Weighted average incremental borrowing rate percentage		37.00%
Minimum [Member]
Real Estate Properties [Line Items]
Operating leases lease term		1 year
Maximum [Member]
Real Estate Properties [Line Items]
Operating leases lease term		90 years
Liberty Transaction [Member] | Subsequent Events [Member]
Real Estate Properties [Line Items]
Fair value of Prologis shares and units issued | $	$ 13
Number of operating properties acquired | Property	502
Square feet of properties | ft²	96.4

Real Estate - Summary of Dispos

Real Estate - Summary of Dispositions (Detail) ft² in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)ft²Property	Dec. 31, 2018USD ($)ft²Property	Dec. 31, 2017USD ($)ft²Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total gains on other dispositions of investments in real estate, net	$ 157,841	$ 59,379	$ 27,254	$ 145,767	$ 217,035	$ 86,009	$ 30,592	$ 37,543	$ 390,241	$ 371,179	$ 855,437
Discontinuing Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total gains on dispositions of development properties and land, net									$ 467,577	$ 469,817	$ 327,528
Discontinuing 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									26	36	29
Square feet | ft²									8,676	12,230	10,049
Net proceeds									$ 1,328,858	$ 1,459,963	$ 1,394,403
Gains on contributions, dispositions, revaluations or redemptions, net									$ 402,922	$ 422,540	$ 310,869
Discontinuing 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									5	8	6
Square feet | ft²									1,351	3,297	2,322
Net proceeds									$ 204,197	$ 343,277	$ 290,679
Gains on contributions, dispositions, revaluations or redemptions, net									$ 64,655	$ 47,277	$ 16,659
Continuing Operations | 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									19	4	193
Square feet | ft²									8,212	885	38,122
Net proceeds									$ 840,906	$ 51,466	$ 1,807,583
Gains on contributions, dispositions, revaluations or redemptions, net									$ 98,062	$ 36,567	$ 536,165
Continuing Operations | Dispositions to Third Parties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of buildings | Property									47	70	104
Square feet | ft²									7,604	12,150	14,825
Net proceeds									$ 651,306	$ 905,210	$ 990,822
Gains on contributions, dispositions, revaluations or redemptions, net									157,157	334,612	258,052
Continuing Operations | 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, dispositions, revaluations or redemptions, net									0	0	61,220
Continuing Operations | Partial redemptions of investments in co-investment ventures [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gains on contributions, dispositions, revaluations or redemptions, net									$ 135,022	$ 0	$ 0

Real Estate - Summary of Disp_2

Real Estate - Summary of Dispositions (Parenthetical) (Detail) ft² in Millions, $ in Millions	1 Months Ended
	Jan. 31, 2019ft²aProperty	Dec. 31, 2019ft²aProperty	Dec. 31, 2018ft²aProperty	Dec. 31, 2017USD ($)	Jul. 31, 2017USD ($)ft²Property
Land [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square feet of properties | a		4,411	4,929
Unconsolidated Co-Investment Ventures [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of operating properties contributed | Property		1,694	1,569
Square feet of properties | ft²		378	340
Prologis Targeted U S Logistics Fund [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of operating properties contributed | Property					190
Square feet of properties | ft²					37.1
Secured Debt | $				$ 956	$ 956
Prologis Targeted U S Logistics Fund [Member] | Unconsolidated Co-Investment Ventures [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage in property fund		27.30%	27.40%
Prologis Brazil Logistics Venture [Member] | Unconsolidated Co-Investment Ventures [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of operating properties contributed | Property	14
Square feet | ft²	6.9
Ownership percentage in property fund	20.00%	20.00%
Prologis Brazil Logistics Venture [Member] | Unconsolidated Co-Investment Ventures [Member] | Land [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square feet | a	371

Real Estate - Future Minimum Re

Real Estate - Future Minimum Rental Payments under Non-Cancelable Operating Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Real Estate [Abstract]
2020	$ 2,133,581	$ 2,006,475
2021	1,922,139	1,867,253
2022	1,618,649	1,589,102
2023	1,317,729	1,278,281
2024	1,013,632	990,970
Thereafter	3,479,038	3,293,320
Total	$ 11,484,768	$ 11,025,401

Real Estate - Operating Propert

Real Estate - Operating Properties and Leases (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Real Estate [Abstract]
2020	$ 43,529	$ 38,769
2021	46,038	38,267
2022	41,624	34,307
2023	39,915	32,312
2024	35,400	30,180
Thereafter	776,205	670,147
Total undiscounted rental payments	982,711	843,982
Less imputed interest	511,077
Total lease liabilities	$ 471,634	$ 0

Unconsolidated Entities - Summa

Unconsolidated Entities - Summary of Investments in and Advances to our Unconsolidated Entities (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	$ 6,237,371	$ 5,745,294
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	5,873,784	5,407,838
Other Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	$ 363,587	$ 337,456

Unconsolidated Entities - Infor

Unconsolidated Entities - Information About Investments in Co-investment Ventures by Property Funds (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Equity Method Investments [Line Items]
Investment in and Advances to unconsolidated investees	$ 6,237,371	$ 5,745,294
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investment in and Advances to unconsolidated investees	$ 5,873,784	$ 5,407,838
Prologis Targeted U S Logistics Fund [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	27.30%	27.40%
Investment in and Advances to unconsolidated investees	$ 1,728,043	$ 1,456,427
FIBRA Prologis [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	47.10%	46.70%
Investment in and Advances to unconsolidated investees	$ 517,347	$ 536,377
Prologis European Logistics Partners | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	50.00%	50.00%
Investment in and Advances to unconsolidated investees	$ 1,595,331	$ 1,517,115
Prologis European Logistics Fund [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	24.10%	27.90%
Investment in and Advances to unconsolidated investees	$ 1,144,831	$ 1,198,904
Prologis China Core Logistics Fund, LP [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	15.60%	0.00%
Investment in and Advances to unconsolidated investees	$ 59,984	$ 0
Nippon Prologis REIT Inc [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	15.10%	15.10%
Investment in and Advances to unconsolidated investees	$ 544,333	$ 472,035
Prologis China Logistics Venture [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	15.00%	15.00%
Investment in and Advances to unconsolidated investees	$ 83,285	$ 141,071
Prologis UK Logistics Venture [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	15.00%	15.00%
Investment in and Advances to unconsolidated investees	$ 59,937	$ 68,002
Prologis Brazil Logistics Venture and other joint ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	10.00%
Prologis Brazil Logistics Venture and other joint ventures [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	20.00%	10.00%
Investment in and Advances to unconsolidated investees	$ 140,693	$ 17,907

Unconsolidated Entities - Inf_2

Unconsolidated Entities - Information About Investments in Co-investment Ventures by Property Funds (Parenthetical) (Detail) $ / shares in Units, shares in Millions, $ in Millions	Dec. 31, 2019USD ($)ft²Property$ / sharesshares	Dec. 31, 2019$ / shares	Dec. 31, 2019¥ / shares	Dec. 31, 2018USD ($)ft²Property
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Number of operating properties contributed | Property	1,694			1,569
Square feet | ft²	378,000,000			340,000,000
FIBRA Prologis [Member]
Schedule Of Equity Method Investments [Line Items]
Units outstanding | shares	305.8
Closing price of common stock | (per share)	$ 2.18	$ 41.07
FIBRA Prologis [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	47.10%			46.70%
Nippon Prologis REIT Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Units outstanding | shares	0.4
Closing price of common stock | (per share)	$ 2,546		¥ 276,400
Receivables from unconsolidated co-investment ventures | $	$ 136.3			$ 122
Nippon Prologis REIT Inc [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	15.10%			15.10%
Prologis China Core Logistics Fund, LP [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	15.60%			0.00%
Number of operating properties contributed | Property	79
Square feet | ft²	22,000,000
Prologis Brazil Logistics Partners Fund I [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	20.00%
Prologis Brazil Logistics Venture and other joint ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	10.00%
Prologis Brazil Logistics Venture and other joint ventures [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	20.00%			10.00%

Unconsolidated Entities - Sum_2

Unconsolidated Entities - Summary of Strategic Capital Revenues Recognized in Consolidated Statements of Income Related to Co-Investment Ventures (Detail) - Unconsolidated Co-Investment Ventures [Member] - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Equity Method Investments [Line Items]
Recurring fees		$ 266,615	$ 230,746	$ 195,513
Transactional fees		57,334	55,816	48,225
Promote revenue	[1]	165,635	116,290	127,519
Total strategic capital revenues from unconsolidated co-investment ventures	[2]	$ 489,584	$ 402,852	$ 371,257
[1]	Includes promote revenue earned from unconsolidated co-investment venture s principally in Europe i n 2019, China and Europe in 2018 and the U.S. in 2017 .
[2]	These amounts exclude strategic capital revenues from other ventures.

Unconsolidated Entities - Sum_3

Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Detail) $ in Thousands, ft² in Millions		12 Months Ended
		Dec. 31, 2019USD ($)ft²PropertyVenture		Dec. 31, 2018USD ($)ft²PropertyVenture	Dec. 31, 2017USD ($)
Schedule Of Equity Method Investments [Line Items]
Our earnings from unconsolidated co-investment ventures, net		$ 200,178		$ 298,260	$ 248,567
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		9		8
Number of buildings | Property		1,694		1,569
Square feet | ft²		378		340
Total assets		$ 34,550,000		$ 29,557,000
Third-party debt		9,408,000		8,148,000
Total liabilities		11,641,000		9,833,000
Our investment balance	[1]	5,874,000		5,408,000
Total revenues		2,617,000		2,451,000	2,180,000
Net earnings		579,000		810,000	798,000
Our earnings from unconsolidated co-investment ventures, net		$ 182,000		$ 279,000	234,000
Unconsolidated Co-Investment Ventures [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		1		1
Number of buildings | Property		605		566
Square feet | ft²		99		91
Total assets		$ 8,408,000		$ 7,303,000
Third-party debt		2,130,000		2,094,000
Total liabilities		2,514,000		2,350,000
Our investment balance	[1]	1,728,000		1,457,000
Total revenues		738,000		676,000	533,000
Net earnings		128,000		150,000	139,000
Our earnings from unconsolidated co-investment ventures, net		$ 38,000		$ 45,000	33,000
Unconsolidated Co-Investment Ventures [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		2	[2]	2
Number of buildings | Property		214	[2]	209
Square feet | ft²		44	[2]	39
Total assets		$ 2,707,000	[2]	$ 2,137,000
Third-party debt		769,000	[2]	838,000
Total liabilities		801,000	[2]	862,000
Our investment balance	[1]	658,000	[2]	554,000
Total revenues		266,000	[2]	217,000	245,000
Net earnings		91,000	[2]	63,000	71,000
Our earnings from unconsolidated co-investment ventures, net		$ 32,000	[2]	$ 26,000	26,000
Unconsolidated Co-Investment Ventures [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		3		3
Number of buildings | Property		731		669
Square feet | ft²		176		159
Total assets		$ 14,677,000		$ 13,028,000
Third-party debt		3,213,000		2,548,000
Total liabilities		4,575,000		3,615,000
Our investment balance	[1]	2,800,000		2,784,000
Total revenues		1,099,000		1,101,000	1,030,000
Net earnings		311,000		509,000	406,000
Our earnings from unconsolidated co-investment ventures, net		$ 102,000		$ 193,000	146,000
Unconsolidated Co-Investment Ventures [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		3	[3]	2
Number of buildings | Property		144	[3]	125
Square feet | ft²		59	[3]	51
Total assets		$ 8,758,000	[3]	$ 7,089,000
Third-party debt		3,296,000	[3]	2,668,000
Total liabilities		3,751,000	[3]	3,006,000
Our investment balance	[1]	688,000	[3]	613,000
Total revenues		514,000		457,000	372,000
Net earnings		49,000		88,000	182,000
Our earnings from unconsolidated co-investment ventures, net		$ 10,000		$ 15,000	$ 29,000
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	27.10%		28.30%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	27.30%		27.40%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	39.10%	[2]	44.40%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	30.20%		33.20%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	15.10%	[3]	15.10%
[1]	Prologis’ investment balance is presented at our adjusted basis derived from the ventures’ U.S. GAAP information. The difference between our ownership interest of a venture’s equity and our investment balance at December 31, 2019 and 2018, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018 ($611.5 million and $635.9 million, respectively); (ii) recording additional costs associated with our investment in the venture ($87.2 million and $94.4 million, respectively); (iii) receivables, principally for fees and promotes ($152.0 million and $166.7 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to NPR, as discussed above. For deferred gains from partial sales recorded prior to January 1, 2018, we recognize these gains over the lives of the underlying real estate properties or at the time of disposition to a third party.
[2]	PBLV and our other Brazilian joint ventures are combined as one venture for the purpose of this table.
[3]	As discussed above, the formation of PCCLF in 2019 increased the number of ventures in Asia.
[4]	Represents our weighted average ownership interest in all unconsolidated co-investment ventures based on each entity’s contribution of total assets before depreciation, net of other liabilities.

Unconsolidated Entities - Sum_4

Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Equity Method Investments And Joint Ventures [Abstract]
Deferred gain recognized from contribution of property to a venture	$ 611.5	$ 635.9
Additional costs associated with investment in a venture	87.2	94.4
Receivables from unconsolidated co-investment ventures	$ 152	$ 166.7

Unconsolidated Entities - Addit

Unconsolidated Entities - Additional Information (Detail) ft² in Millions, $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2020USD ($)ft²Property	Dec. 31, 2019USD ($)	Jul. 31, 2017ft²Property
Prologis, Inc. [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments | $		$ 379.6
Expiration date for remaining commitments range start		2020
Expiration date for remaining commitments range end		2026
Prologis Targeted U S Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Number of operating properties acquired | Property			190
Square feet of properties | ft²			37.1
Subsequent Events [Member] | Industrial Property Trust, Inc. [Member] | Prologis Targeted U S Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Number of operating properties acquired | Property	108
Square feet of properties | ft²	18.3
Business acquisition consideration transferred | $	$ 500

Assets Held for Sale or Contr_3

Assets Held for Sale or Contribution - Summary of Assets Held for Sale or Contribution (Detail) ft² in Thousands, $ in Thousands	Dec. 31, 2019USD ($)ft²Property	Dec. 31, 2018USD ($)ft²Property
Long Lived Assets Held For Sale [Line Items]
Total assets held for sale or contribution	$ 720,685	$ 622,288
Total liabilities associated with assets held for sale or contribution – included in Other Liabilities	$ 41,994	$ 12,972
Disposal Group Held for Sale Not Discontinued Operations
Long Lived Assets Held For Sale [Line Items]
Number of operating properties | Property	28	57
Square feet | ft²	9,371	8,236

Other Assets and Other Liabil_3

Other Assets and Other Liabilities - Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Rent leveling	$ 404,516	$ 346,116
Leasing commissions	381,013	346,852
Acquired lease intangibles	314,179	450,690
Value added taxes receivable	120,923	97,047
Prepaid assets	109,676	108,581
Fixed assets	107,468	112,211
Accounts receivable	85,835	107,141
Other notes receivable	35,308	35,338
Management contracts	14,888	16,257
Derivative assets	13,266	22,731
Deferred income taxes	4,595	8,767
Other	120,190	124,188
Total	$ 1,711,857	$ 1,775,919

Other Assets and Other Liabil_4

Other Assets and Other Liabilities - Schedule of Other Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Tenant security deposits	$ 269,841	$ 240,467
Unearned rents	106,152	86,083
Income tax liabilities	65,652	59,766
Environmental liabilities	63,577	88,863
Acquired lease intangibles	58,525	76,087
Total liabilities associated with assets held for sale or contribution – included in Other Liabilities	41,994	12,972
Indemnification liability	39,830	36,476
Derivative liabilities	23,851	8,159
Deferred income	11,971	10,088
Value added taxes payable	10,036	11,037
Other	186,172	136,448
Total	$ 877,601	$ 766,446

Other Assets and Other Liabil_5

Other Assets and Other Liabilities - Schedule of Amortization Expense and Rental Revenues (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Amortization Expense 2020	$ 170,807
Amortization Expense 2021	134,137
Amortization Expense 2022	104,372
Amortization Expense 2023	79,452
Amortization Expense 2024	56,699
Amortization Expense Thereafter	125,877
Amortization Expense Totals	671,344
2020	(16,377)
2021	20,076
2022	41,895
2023	49,773
2024	46,305
Thereafter	228,167
Total	$ 369,839

Debt - Additional Information (

Debt - Additional Information (Detail) $ in Thousands, ¥ in Billions	1 Months Ended			12 Months Ended
	Oct. 31, 2018	Aug. 31, 2018	Jul. 31, 2018	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2019JPY (¥)	Aug. 22, 2018USD ($)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 3,946,000	$ 3,470,000	$ 3,490,000
Losses on early extinguishment of debt, net				16,126	2,586	$ 68,379
Repayments of assumed debt					1,800,000
Senior Notes Outstanding				9,700,000
Prologis Euro Finance L L C [Member]
Debt Instrument [Line Items]
Percentage of ownership in operating partnership			100.00%
Prologis Yen Finance LLC [Member]
Debt Instrument [Line Items]
Percentage of ownership in operating partnership		100.00%
Prologis Sterling Finance LLC [Member]
Debt Instrument [Line Items]
Percentage of ownership in operating partnership	100.00%
DCT Transaction [Member]
Debt Instrument [Line Items]
Prepayment penalties					48,700
Premium recorded on assumption of debt					$ 46,500
Carrying Value of Debt Assumed								$ 1,863,000
Global Facility [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 3,500,000
Debt Instrument maturity date				2023-01
Ability to increase borrowing capacity subject to currency fluctuations and obtaining additional lender commitments				$ 4,500,000
Revolver [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 598,800			¥ 65
Debt Instrument maturity date				2021-02
Credit facility current borrowing capacity				$ 460,600			¥ 50
Term Loan [Member]
Debt Instrument [Line Items]
Carrying Value of Debt Assumed				$ 1,400,000

Debt - Debt Summary (Detail)

Debt - Debt Summary (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.20%	2.70%
Debt	$ 11,905,877	$ 11,089,815
Credit Facilities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	0.40%	3.40%
Debt	$ 184,255	$ 50,500
Senior Notes [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.40%	2.70%
Debt	$ 9,660,570	$ 8,304,147
Term Loans and Unsecured Other [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	0.90%	1.80%
Debt	$ 1,441,882	$ 1,921,428
Secured Mortgage [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.40%	5.10%
Debt	$ 619,170	$ 813,740

Debt - Debt Summary (Parentheti

Debt - Debt Summary (Parenthetical) (Detail) $ in Thousands, € in Millions	12 Months Ended
	Dec. 31, 2019USD ($)Property	Dec. 31, 2019EUR (€)Property	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Debt	$ 11,905,877		$ 11,089,815
Number of operating properties securing mortgage debt of consolidated entities | Property	87	87
Number of prestablized properties securing mortgage debt of consolidated entities | Property	1	1
Number of properties under development securing mortgage debt of consolidated entities | Property	1	1
Mortgage notes, aggregate cost of secured properties	$ 1,700,000
Senior Notes [Member]
Debt Instrument [Line Items]
Debt	9,660,570		8,304,147
Principal Amount	$ 445,900	€ 400
Interest rate, Description	Euribor plus 0.3%
Interest rate	0.30%
Secured Mortgage [Member]
Debt Instrument [Line Items]
Debt	$ 619,170		813,740
Minimum [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Effective Interest Rate	0.10%	0.10%
Debt instrument, maturity date	2020-01
Minimum [Member] | Secured Mortgage [Member]
Debt Instrument [Line Items]
Effective Interest Rate	0.20%	0.20%
Debt instrument, maturity date	2020-04
Maximum [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Effective Interest Rate	4.50%	4.50%
Debt instrument, maturity date	2049-09
Maximum [Member] | Secured Mortgage [Member]
Debt Instrument [Line Items]
Effective Interest Rate	7.80%	7.80%
Debt instrument, maturity date	2027-11
GBP
Debt Instrument [Line Items]
Debt	$ 656,549		$ 635,972
Percentage of outstanding debt	5.50%	5.50%	5.80%
CAD
Debt Instrument [Line Items]
Debt	$ 279,730		$ 266,337
Percentage of outstanding debt	2.30%	2.30%	2.40%
EUR
Debt Instrument [Line Items]
Debt	$ 6,128,986		$ 4,893,693
Percentage of outstanding debt	51.50%	51.50%	44.10%
JPY
Debt Instrument [Line Items]
Debt	$ 2,329,381		$ 1,951,844
Percentage of outstanding debt	19.60%	19.60%	17.60%
USD
Debt Instrument [Line Items]
Debt	$ 2,511,231		$ 3,341,969
Percentage of outstanding debt	21.10%	21.10%	30.10%

Debt - Credit Facilities (Detai

Debt - Credit Facilities (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Weighted average daily interest rate	1.50%	3.10%	1.30%
Weighted average daily borrowings	$ 85	$ 253	$ 111
Maximum borrowings outstanding at any month-end	257	485	317
Aggregate lender commitments	3,946	3,470	3,490
Borrowings outstanding	184	51	317
Outstanding letters of credit	36	31	33
Current availability	$ 3,726	$ 3,388	$ 3,140

Debt - Summary of Issuances of

Debt - Summary of Issuances of Senior Notes (Detail) € in Thousands, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)	Dec. 31, 2019JPY (¥)
March 2019 Senior Notes [Member] | JPY
Debt Instrument [Line Items]
Stated Interest Rate	1.20%	1.20%	1.20%
Debt instrument, maturity date	2039-03
Initial Borrowing Date	2019-03
Principal Amount	$ 90,531		¥ 10,000,000
September 2019 Senior Notes Tranche One [Member] | EUR
Debt Instrument [Line Items]
Stated Interest Rate	0.30%	0.30%	0.30%
Debt instrument, maturity date	2027-09
September 2019 Senior Notes Tranche Two [Member] | EUR
Debt Instrument [Line Items]
Stated Interest Rate	1.50%	1.50%	1.50%
Debt instrument, maturity date	2049-09
September 2019 Senior Notes [Member] | EUR
Debt Instrument [Line Items]
Initial Borrowing Date	2019-09
Principal Amount	$ 1,987,200	€ 1,800,000

Debt - Summary of Outstanding T

Debt - Summary of Outstanding Term Loans (Detail)	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019JPY (¥)	Dec. 31, 2019CAD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2019JPY (¥)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 3,946,000,000					$ 3,470,000,000	$ 3,490,000,000
Subtotal	11,994,717,000
Debt issuance costs, net	(42,770,000)
Total term loans	184,000,000					51,000,000	$ 317,000,000
Term Loan [Member]
Debt Instrument [Line Items]
Subtotal	1,439,421,000					1,917,042,000
Debt issuance costs, net	(8,484,000)					(8,230,000)
Total term loans	$ 1,430,937,000					1,908,812,000
2016 Yen Term Loan [Member] | JPY
Debt Instrument [Line Items]
Initial Borrowing Date	Aug. 31, 2016
Credit facility maximum borrowing capacity	$ 0	¥ 0
Subtotal	$ 0					909,813,000
Interest Rate, Description	Yen LIBOR + 0.7%
Interest rate	0.70%
2017 Term Loan [Member] | Other Currency [Member]
Debt Instrument [Line Items]
Initial Borrowing Date	Jun. 30, 2014
Credit facility maximum borrowing capacity	$ 500,000,000
Subtotal	$ 0					500,000,000
Interest Rate, Description	LIBOR + 0.9%
Interest rate	0.90%
Debt Instrument maturity date	2020-05
March 2017 Yen Term Loan [Member] | JPY
Debt Instrument [Line Items]
Initial Borrowing Date	Mar. 31, 2017
Credit facility maximum borrowing capacity	$ 110,553,000	12,000,000,000
Subtotal	$ 110,553,000					109,178,000
2015 Canadian Term Loan [Member] | CAD
Debt Instrument [Line Items]
Initial Borrowing Date	Dec. 31, 2015
Credit facility maximum borrowing capacity	$ 131,214,000		$ 170,506,000
Subtotal	$ 131,214,000					125,107,000
Interest Rate, Description	CDOR + 0.9%
Interest rate	0.90%
Debt Instrument maturity date	2023-02
October 2017 Yen Term Loan [Member] | JPY
Debt Instrument [Line Items]
Initial Borrowing Date	Oct. 31, 2017
Credit facility maximum borrowing capacity	$ 92,127,000	¥ 10,000,000,000
Subtotal	$ 92,127,000					90,981,000
Interest rate, fixed	0.90%	0.90%	0.90%
Debt Instrument maturity date	2032-10
December 2018 Yen Term [Member] | JPY
Debt Instrument [Line Items]
Initial Borrowing Date	Dec. 31, 2018
Credit facility maximum borrowing capacity	$ 184,254,000	¥ 20,000,000,000
Subtotal	$ 184,254,000					181,963,000
Interest Rate, Description	1.2% and Yen LIBOR + 0.7%
January 2019 Yen Term [Member] | JPY
Debt Instrument [Line Items]
Initial Borrowing Date	Jan. 31, 2019
Credit facility maximum borrowing capacity	$ 138,191,000	15,000,000,000
Subtotal	$ 138,191,000					0
Interest Rate, Description	Yen LIBOR + 0.5% to 0.6%
March 2019 Yen Term Loan [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 1,100,000,000	¥ 120,000,000,000
March 2019 Yen Term Loan [Member] | JPY
Debt Instrument [Line Items]
Initial Borrowing Date	Mar. 31, 2019
Credit facility maximum borrowing capacity	$ 783,082,000	¥ 85,000,000,000
Subtotal	$ 783,082,000					$ 0
Interest Rate, Description	Yen LIBOR + 0.4%
Interest rate	0.40%
Debt Instrument maturity date	2026-03
March 2017 Yen Term Loan Tranche One [Member] | JPY
Debt Instrument [Line Items]
Interest rate, fixed	0.90%	0.90%	0.90%
Debt Instrument maturity date	2027-03
March 2017 Yen Term Loan Tranche Two [Member] | JPY
Debt Instrument [Line Items]
Interest rate, fixed	1.00%	1.00%	1.00%
Debt Instrument maturity date	2028-03
December 2018 Yen Term Loan Tranche One [Member] | JPY
Debt Instrument [Line Items]
Interest rate, fixed	1.20%	1.20%	1.20%
Debt Instrument maturity date	2031-12
December 2018 Yen Term Loan Tranche Two [Member] | JPY
Debt Instrument [Line Items]
Interest rate	0.70%
Debt Instrument maturity date	2033-06
January 2019 Yen Term Loan Tranche One [Member] | JPY
Debt Instrument [Line Items]
Interest rate	0.50%
Debt Instrument maturity date	2028-01
January 2019 Yen Term Loan Tranche Two [Member] | JPY
Debt Instrument [Line Items]
Interest rate	0.60%
Debt Instrument maturity date	2030-01
2016 Yen Term Loan Tranche One [Member] | JPY
Debt Instrument [Line Items]
Debt Instrument maturity date	2022-08
2016 Yen Term Loan Tranche Two [Member] | JPY
Debt Instrument [Line Items]
Debt Instrument maturity date	2023-08

Debt - Summary of Outstanding_2

Debt - Summary of Outstanding Term Loans (Parenthetical) (Detail) $ in Millions, ¥ in Billions	12 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019JPY (¥)	Dec. 31, 2018USD ($)	Mar. 31, 2019USD ($)	Mar. 31, 2019JPY (¥)	Dec. 31, 2017USD ($)	May 31, 2017USD ($)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 3,946		$ 3,470			$ 3,490
2017 Term Loan [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity							$ 1,000
Repayments of debt	1,300		2,000
Debt reborrowed during period	777.2		$ 2,000
2016 Yen Term Loan Tranche Two [Member]
Debt Instrument [Line Items]
Repayments of debt	$ 897.4	¥ 100
March 2019 Yen Term Loan [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 1,100	¥ 120

Debt - Long-Term Debt Maturitie

Debt - Long-Term Debt Maturities (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
2020	$ 535,753
2021	1,066,281
2022	798,387
2023	1,015,195
2024	1,048,755
Thereafter	7,530,346
Subtotal	11,994,717
Premiums (discounts), net	(46,070)
Debt issuance costs, net	(42,770)
Total	11,905,877	$ 11,089,815
Credit Facilities [Member]
Debt Instrument [Line Items]
2020	0
2021	184,255
2022	0
2023	0
2024	0
Thereafter	0
Subtotal	184,255
Premiums (discounts), net	0
Debt issuance costs, net	0
Total	184,255	50,500
Senior Notes [Member]
Debt Instrument [Line Items]
2020	449,360
2021	786,380
2022	786,380
2023	850,000
2024	786,380
Thereafter	6,080,150
Subtotal	9,738,650
Premiums (discounts), net	(46,568)
Debt issuance costs, net	(31,512)
Total	9,660,570	8,304,147
Term Loans And Other Debt [Member]
Debt Instrument [Line Items]
2020	10,945
2021	0
2022	0
2023	131,214
2024	0
Thereafter	1,308,207
Subtotal	1,450,366
Premiums (discounts), net	0
Debt issuance costs, net	(8,484)
Total	1,441,882	1,921,428
Secured Mortgages [Member]
Debt Instrument [Line Items]
2020	75,448
2021	95,646
2022	12,007
2023	33,981
2024	262,375
Thereafter	141,989
Subtotal	621,446
Premiums (discounts), net	498
Debt issuance costs, net	(2,774)
Total	$ 619,170	$ 813,740

Debt - Long-Term Debt Maturit_2

Debt - Long-Term Debt Maturities (Parenthetical) (Detail) € in Millions, $ in Millions	1 Months Ended		12 Months Ended
	Jan. 31, 2020USD ($)	Jan. 31, 2020EUR (€)	Dec. 31, 2019
Debt Instrument [Line Items]
Debt instruments expected maturing period			next twelve months
Subsequent Events [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt instruments redeemed amount	$ 445.9	€ 400

Debt - Interest Expense (Detail

Debt - Interest Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Gross interest expense	$ 271,451	$ 268,942	$ 328,228
Amortization of debt discounts (premiums), net	3,713	(590)	(13,728)
Amortization of debt issuance costs, net	13,293	13,243	14,479
Interest expense before capitalization	288,457	281,595	328,979
Capitalized amounts	(48,504)	(52,454)	(54,493)
Net interest expense	239,953	229,141	274,486
Total cash paid for interest, net of receipts and amounts capitalized	$ 214,375	$ 205,485	$ 278,313

Debt - Activity Related to Repu

Debt - Activity Related to Repurchase of Debt and Net Loss on Early Extinguishment of Debt (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Original principal amount	$ 1,089,100		$ 2,033,600
Cash purchase/repayment price	1,102,000		2,104,800
Losses on early extinguishment of debt	16,126	$ 2,586	68,379
Senior Notes [Member]
Debt Instrument [Line Items]
Original principal amount	656,300		1,495,300
Cash purchase/repayment price	669,100		1,566,500
Secured Mortgage debt [Member]
Debt Instrument [Line Items]
Original principal amount	432,800		538,300
Cash purchase/repayment price	$ 432,900		$ 538,300

Stockholders' Equity of Prolo_3

Stockholders' Equity of Prologis Inc. - Additional Information (Detail)	Aug. 22, 2018shares	Dec. 31, 2019USD ($)Agentshares	Dec. 31, 2018shares
Shareholders Equity [Line Items]
Common stock shares authorized to be issued		1,100,000,000
Common stock, shares authorized		1,000,000,000
Beneficial interest of outstanding shares		50.00%
Beneficial interest of outstanding shares by single person or persons acting as group		9.80%
Percentage of ownership restrictions		25.00%
Percentage of REIT taxable income computed without regard to the dividends paid deduction and net capital gains		90.00%
Series Q Preferred Stock [Member]
Shareholders Equity [Line Items]
Preferred stock dividend rate percentage		8.54%	8.54%
At the Market Offering [Member]
Shareholders Equity [Line Items]
Maximum proceeds from sale of stock | $		$ 750,000,000
Aggregate sales of stock remaining available | $		$ 535,200,000
Agents fee percentage		2.00%
Number of designated agents | Agent		6
Common Stock [Member]
Shareholders Equity [Line Items]
Issuance of common shares related to acquisition			96,179,000
DCT Transaction [Member] | Common Stock [Member]
Shareholders Equity [Line Items]
Issuance of common shares related to acquisition	96,200,000

Stockholders' Equity of Prolo_4

Stockholders' Equity of Prologis, Inc - Summary of Taxability of Common and Preferred Stock Dividends (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2019	[1]	Dec. 31, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Ordinary income	$ 2.08		$ 1.34	$ 1.23
Qualified dividend	0		0.03	0.01
Capital gains	0.04		0.55	0.52
Total distribution	2.12		1.92	1.76
Series Q Preferred Stock [Member]
Class of Stock [Line Items]
Ordinary income	4		2.98	2.91
Qualified dividend	0.01		0.06	0.08
Capital gains	0.26		1.23	1.28
Total distribution	$ 4.27		$ 4.27	$ 4.27
[1]	Taxability for 2019 is estimated.

Partners' Capital of Prologis_2

Partners' Capital of Prologis, L.P. - Additional Information (Detail) - $ / shares shares in Millions	Aug. 22, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2015
Shareholders Equity [Line Items]
Dividends paid		$ 2.12	$ 1.92	$ 1.76
Common Units [Member]
Shareholders Equity [Line Items]
Dividends per share entitled, issued in acquisition					$ 0.40
Common Units [Member] | DCT Transaction [Member]
Shareholders Equity [Line Items]
Common limited partnership units, shares	3.6
Class A Common [Member]
Shareholders Equity [Line Items]
Dividends per share entitled, issued in acquisition					$ 0.64665
Dividends paid		$ 2.58660	$ 2.58660	$ 2.58660
Class A units convertible into common limited partnership units		8.1	8.4
Limited partnership unit, redemption price per share		$ 43.11

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Detail) ft² in Millions, $ in Billions	1 Months Ended	12 Months Ended
	Jan. 31, 2020USD ($)ft²Property	Dec. 31, 2019
Industrial Property Trust, Inc. [Member] | Prologis U S Logistics Venture | Subsequent Events [Member]
Noncontrolling Interest [Line Items]
Number of operating properties acquired | Property	127
Square feet of properties | ft²	19
Business acquisition consideration transferred | $	$ 1.1
Prologis, L.P. [Member]
Noncontrolling Interest [Line Items]
Description of conversion rate		one share of common stock to one limited partnership unit

Noncontrolling Interests - Nonc

Noncontrolling Interests - Noncontrolling Interest Summary (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Noncontrolling Interest [Line Items]
Operating Partnership noncontrolling interest		$ 2,775,394	$ 2,836,469
Noncontrolling interests		3,418,657	3,502,795
Total Assets		40,031,850	38,417,664
Total Liabilities		13,960,066	12,616,776
Noncontrolling Interests [Member]
Noncontrolling Interest [Line Items]
Total Assets		6,926,636	7,117,289
Total Liabilities		$ 184,583	$ 145,927
Prologis U S Logistics Venture
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage		55.00%	55.00%
Operating Partnership noncontrolling interest		$ 2,677,846	$ 2,697,095
Total Assets		6,077,016	6,072,087
Total Liabilities		$ 99,397	$ 92,782
Other Consolidated Entities [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership	[1]	various	various
Operating Partnership noncontrolling interest	[1]	$ 97,548	$ 139,374
Total Assets	[1]	849,620	1,045,202
Total Liabilities	[1]	85,186	53,145
Prologis, L.P. [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		2,775,394	2,836,469
Total Assets		40,031,850	38,417,664
Total Liabilities		13,960,066	12,616,776
Prologis, L.P. [Member] | Noncontrolling Interests [Member]
Noncontrolling Interest [Line Items]
Limited partners in Prologis, L.P.	[2],[3]	643,263	666,326
Total Assets	[2],[3]	0	0
Total Liabilities	[2],[3]	0	0
Prologis, Inc. [Member]
Noncontrolling Interest [Line Items]
Total Assets		6,926,636	7,117,289
Total Liabilities		184,583	145,927
Prologis, Inc. [Member] | Noncontrolling Interests [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		$ 3,418,657	$ 3,502,795
[1]	Includes our two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. The limited partnership units outstanding at December 31, 2019 and 2018 were exchangeable into cash or, at our option, 0.3 million and 0.7 million shares of the Parent’s common stock, respectively.
[2]	At December 31, 2019 and 2018, excluding the Class A Units, there were limited partnership units in the OP that were exchangeable into cash or, at our option, 6.2 million and 7.2 million shares of the Parent’s common stock, respectively. Also included are the vested OP Long-Term Incentive Plan Units associated with our long-term compensation plans. See further discussion of Long-Term Incentive Plan Units in Note 12.
[3]	We had 8.6 million and 8.8 million Class A Units that were convertible into 8.1 million and 8.4 million limited partnership units of the OP at December 31, 2019 and 2018, respectively.

Noncontrolling Interests - No_2

Noncontrolling Interests - Noncontrolling Interest Summary (Parenthetical) (Detail) - shares shares in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Class A Common [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units, exchanged	8.1	8.4
Units outstanding	8.6	8.8
Common Unit [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units, exchanged	6.2	7.2
Other Consolidated Entities [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units, exchanged	0.3	0.7
Other Consolidated Entities [Member] | Common Stock [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units	0.3	0.7

Long-Term Compensation - Additi

Long-Term Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options outstanding		100,000
Stock options exercisable		100,000
Stock options outstanding, weighted average exercise price		$ 30.85
Stock options exercisable, weighted average exercise price		$ 30.85
Weighted average life		10 months 24 days
Aggregate intrinsic value of exercised options		$ 11,800	$ 13,800	$ 28,600
Options granted		0
Employer contribution for every dollar		0.50%
Percentage of employees annual compensation within the statutory compensation limit		6.00%
Vesting percentage on defined contribution plan		100.00%
Vesting period for acquired plan		1 year
Compensation cost related to employees contribution plans		$ 3,000	2,900	2,800
Subsequent Events [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Employer contribution for every dollar	0.50%
Percentage of employees annual compensation within the statutory compensation limit	12.00%
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Remaining compensation cost weighted average period		1 year 3 months 18 days
Grant date fair value of stock awards granted			46,600	38,500
Aggregate fair value			35,700	32,900
Compensation cost		$ 46,000
Long Term Incentive Plan Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant date fair value of stock awards granted		53,200	82,600
Aggregate fair value		$ 28,300	41,200
LTIP Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Remaining compensation cost weighted average period		1 year 4 months 24 days
Compensation cost		$ 101,200
Maximum [Member] | Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		4 years
Minimum [Member] | Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		3 years
2012 Long Term Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of common stocks are reserved for issuance		27,200,000
Common stock available for future issuance		14,900,000
Description of conversion rate		Each LTIP Unit counts as one share of common
2012 Long Term Incentive Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available to be granted for a single participant		1,500,000
Prologis Out-Performance Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance Period		3 years
Outperformance hurdle, above MSCI U.S. REIT Index		1.00%
Performance pool as percentage of excess value, if outperformance hurdle is met		3.00%
Forfeited awards after seven years		7 years
Initial performance period		3 years
Total remaining compensation cost related to the POP		$ 39,600
Remaining compensation cost weighted average period		3 years 2 months 12 days
Aggregate fair value		$ 21,200	$ 23,300	$ 20,400
Prologis Out-Performance Plan [Member] | 2016 - 2018 Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cash incentive award maximum		75,000
Prologis Out-Performance Plan [Member] | 2017 - 2019 Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cash incentive award maximum		$ 75,000
Prologis Out-Performance Plan [Member] | 2018 – 2020 and Thereafter Performance Periods [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Initial performance period		3 years
Holding period		3 years
Prologis Out-Performance Plan [Member] | 2018 – 2020 and Thereafter Performance Periods [Member] | Tranche 1 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rights, percentage		20.00%
Prologis Out-Performance Plan [Member] | 2018 – 2020 and Thereafter Performance Periods [Member] | Tranche 2 (After Seven Year Cliff) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		7 years
Vesting rights, percentage		80.00%
Prologis Out-Performance Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		10 years
Percentage of equity market capitalization		0.50%
Prologis Out-Performance Plan [Member] | Maximum [Member] | 2018 – 2020 and Thereafter Performance Periods [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cash incentive award maximum		$ 100,000
Prologis Out-Performance Plan [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		3 years
Prologis Promote Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total compensation pool		40.00%

Long-Term Compensation - Assump

Long-Term Compensation - Assumptions Used for Each Grant Based on Year Granted (Detail) - Prologis Out-Performance Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk free interest rate	2.60%	2.10%	1.50%
Expected volatility	20.00%	16.50%	22.20%
Aggregate fair value	$ 21,200	$ 23,300	$ 20,400

Long-Term Compensation - Perfor

Long-Term Compensation - Performance Pool awarded (Detail) - Prologis Out-Performance Plan [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	1 Months Ended
	Jan. 31, 2020	Jan. 31, 2019	Jan. 31, 2018
2017 - 2019 Performance Period [Member] | Subsequent Events [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance pool	$ 75,000
Common stock shares	266
POP LTIP Units and LTIP Units	548
Average price used to determine number of awards	$ 92.21
2016 - 2018 Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance pool		$ 88,317
Common stock shares		423
POP LTIP Units and LTIP Units		924
Average price used to determine number of awards		$ 65.57
2015 - 2017 Performance Periods [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance pool			$ 110,230
Common stock shares			582
POP LTIP Units and LTIP Units			1,170
Average price used to determine number of awards			$ 62.65

Long-Term Compensation - RSU Aw

Long-Term Compensation - RSU Awards (Detail) - Restricted Stock Units (RSUs) [Member] shares in Thousands	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Unvested Awards, Beginning Balance | shares	1,255
Granted | shares	648
Vested and distributed | shares	(681)
Forfeited | shares	(57)
Number of Unvested Awards, Ending Balance | shares	1,165
Weighted Average Grant Date Fair Value | $ / shares	$ 54.48
Weighted Average Grant Date Fair Value, Granted | $ / shares	74.58
Weighted Average Grant Date Fair Value, Vested and distributed | $ / shares	51.82
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	62.93
Weighted Average Grant Date Fair Value | $ / shares	$ 68.44

Long-Term Compensation - LTIP U

Long-Term Compensation - LTIP Units Awards (Detail) - Long Term Incentive Plan Units [Member] shares in Thousands	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Beginning Balance	3,293
Vested LTIP Units	1,134
Vested POP LTIP Units	391
Conversion to common limited partnership units	(1,104)
Number of Shares, Ending Balance	3,714
Number of Unvested Awards, Beginning Balance	2,177
Granted	1,223
Forfeited	(21)
Vested LTIP Units	(1,134)
Unvested POP LTIP Units	433
Number of Unvested Awards, Ending Balance	2,678
Weighted Average Grant Date Fair Value | $ / shares	$ 56.05
Unvested Weighted Average Grant Date Fair Value, Granted | $ / shares	75.84
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	66.77
Unvested Weighted Average Grant Date Fair Value, Vested LTIP Units | $ / shares	54.41
Unvested Weighted Average Grant Date Fair Value, Unvested LTIP Units - POP | $ / shares	21.17
Weighted Average Grant Date Fair Value | $ / shares	$ 60.06

Income Taxes - Components of Ea

Income Taxes - Components of Earnings Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Domestic	$ 981,188	$ 1,078,678	$ 1,207,503
International	795,175	807,612	608,065
Earnings before income taxes	$ 1,776,363	$ 1,886,290	$ 1,815,568

Income Taxes - Components of Pr

Income Taxes - Components of Provision for Income Tax (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current income tax expense:
U.S. federal	$ 3,232	$ 1,727	$ 214
International	41,855	50,731	45,185
State and local	17,209	9,424	14,215
Total current income tax expense	62,296	61,882	59,614
Deferred income tax expense (benefit):
U.S. federal	(208)	(317)	2,533
International	12,429	1,765	(7,538)
Total deferred income tax expense (benefit)	12,221	1,448	(5,005)
Total income tax expense	$ 74,517	$ 63,330	$ 54,609

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Change in uncertain tax positions	$ 0	$ 0	$ 0
Cash paid for income taxes, net of refunds	62,100,000	60,300,000	$ 46,700,000
Liability for uncertain tax positions	$ 3,000,000	$ 3,000,000

Income Taxes - Deferred Income

Income Taxes - Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Gross deferred income tax assets:
NOL carryforwards	$ 287,516	$ 336,485
Basis difference – real estate properties	42,472	55,198
Basis difference – equity investments	445	5,448
Basis difference – intangibles	0	1,076
Section 163(j) interest limitation	480	4,771
Capital loss carryforward	1	1
Other – temporary differences	2,754	3,487
Total gross deferred income tax assets	333,668	406,466
Valuation allowance	(299,092)	(379,987)
Gross deferred income tax assets, net of valuation allowance	34,576	26,479
Gross deferred income tax liabilities:
Basis difference – real estate properties	78,113	69,157
Basis difference – equity investments	12,622	2,380
Other – temporary differences	1,898	2,941
Total gross deferred income tax liabilities	92,633	74,478
Net deferred income tax liabilities	$ 58,057	$ 47,999

Income Taxes - Summary of Opera

Income Taxes - Summary of Operating Loss Carryforwards (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Operating Loss Carryforwards [Line Items]
Tax-effected NOL carryforward	$ 287,516	$ 336,485
U.S. [Member]
Operating Loss Carryforwards [Line Items]
Gross NOL carryforward	72,880
Tax-effected NOL carryforward	17,781
Valuation allowance	(5,542)
Net deferred tax asset – NOL carryforward	$ 12,239
Expiration periods	2022 – indefinite
Europe [Member]
Operating Loss Carryforwards [Line Items]
Gross NOL carryforward	$ 652,026
Tax-effected NOL carryforward	149,197
Valuation allowance	(143,552)
Net deferred tax asset – NOL carryforward	$ 5,645
Expiration periods	2020 – indefinite
Mexico [Member]
Operating Loss Carryforwards [Line Items]
Gross NOL carryforward	$ 292,213
Tax-effected NOL carryforward	90,116
Valuation allowance	(90,116)
Net deferred tax asset – NOL carryforward	$ 0
Expiration periods	2020 – 2030
Japan [Member]
Operating Loss Carryforwards [Line Items]
Gross NOL carryforward	$ 117,500
Tax-effected NOL carryforward	21,634
Valuation allowance	(21,634)
Net deferred tax asset – NOL carryforward	$ 0
Expiration periods	2020 – 2029
Other [Member]
Operating Loss Carryforwards [Line Items]
Gross NOL carryforward	$ 36,062
Tax-effected NOL carryforward	8,788
Valuation allowance	(7,188)
Net deferred tax asset – NOL carryforward	$ 1,600
Expiration periods	2020 – indefinite

Earnings Per Common Share or _3

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								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ 385,480	$ 450,639	$ 383,784	$ 347,047	$ 596,568	$ 346,345	$ 334,611	$ 365,902	$ 1,566,950	$ 1,643,426	$ 1,641,931
Net earnings/Noncontrolling interest attributable to exchangeable limited partnership units									46,986	49,743	46,280
Adjusted net earnings attributable to common stockholders – Diluted									$ 1,613,936	$ 1,693,169	$ 1,688,211
Weighted average common shares/units outstanding – Basic									630,580	567,367	530,400
Incremental weighted average effect on exchange of limited partnership units									19,154	17,768	15,945
Incremental weighted average effect of equity awards									5,169	5,104	5,955
Weighted average common shares/partnership units outstanding - Diluted									654,903	590,239	552,300
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 0.61	$ 0.71	$ 0.61	$ 0.55	$ 0.95	$ 0.60	$ 0.63	$ 0.69	$ 2.48	$ 2.90	$ 3.10
Diluted	$ 0.61	$ 0.71	$ 0.60	$ 0.55	$ 0.94	$ 0.60	$ 0.62	$ 0.68	$ 2.46	$ 2.87	$ 3.06
Net earnings attributable to exchangeable other limited partnership units									$ (46,986)	$ (49,743)	$ (46,280)
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									1,613,615	1,692,313	1,686,945
Net earnings/Noncontrolling interest attributable to exchangeable limited partnership units									(321)	(856)	(1,266)
Adjusted net earnings attributable to common stockholders – Diluted									$ 1,613,936	$ 1,693,169	$ 1,688,211
Weighted average common shares/units outstanding – Basic									641,128	575,798	536,335
Incremental weighted average effect on exchange of Class A convertible units									8,231	8,446	8,607
Incremental weighted average effect on exchange of limited partnership units									375	891	1,403
Incremental weighted average effect of equity awards									5,169	5,104	5,955
Weighted average common shares/partnership units outstanding - Diluted									654,903	590,239	552,300
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic									$ 2.48	$ 2.90	$ 3.10
Diluted									$ 2.46	$ 2.87	$ 3.06
Net earnings attributable to exchangeable other limited partnership units									$ 321	$ 856	$ 1,266
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									(20,454)	(24,465)	(26,642)
Adjusted net earnings attributable to common stockholders – Diluted									20,454	24,465	26,642
Prologis, L.P. [Member] | Common Unit [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic									$ 1,593,161	$ 1,667,848	$ 1,660,303

Earnings Per Common Share or _4

Earnings Per Common Share or Unit - Computation of Basic and Diluted Earnings Per Share Unit (Parenthetical) (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potential dilutive shares and units outstanding	27,087	25,943	25,128
Prologis, L.P. [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potentially dilutive Class A Units	8,231	8,446	8,607
Total weighted average potentially dilutive other limited partnership units	375	891	1,403
Total weighted average potentially dilutive equity awards	7,933	8,175	9,183
Total weighted average potential dilutive shares and units outstanding	16,539	17,512	19,193
Total weighted average potential dilutive common limited partnership units	10,548	8,431	5,935

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements - Schedule of Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Derivatives Fair Value [Line Items]
Asset	$ 13,266	$ 22,731
Liability	23,851	8,159
Undesignated Derivatives [Member] | Forwards [Member] | BRL
Derivatives Fair Value [Line Items]
Asset	181	80
Liability	49	0
Undesignated Derivatives [Member] | Forwards [Member] | GBP
Derivatives Fair Value [Line Items]
Asset	731	2,266
Liability	3,823	324
Undesignated Derivatives [Member] | Forwards [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	523	3,336
Liability	1,855	53
Undesignated Derivatives [Member] | Forwards [Member] | CNY
Derivatives Fair Value [Line Items]
Asset	0	0
Liability	81	0
Undesignated Derivatives [Member] | Forwards [Member] | EUR
Derivatives Fair Value [Line Items]
Asset	7,135	7,895
Liability	2,034	1,922
Undesignated Derivatives [Member] | Forwards [Member] | JPY
Derivatives Fair Value [Line Items]
Asset	3,889	3,334
Liability	97	1,318
Undesignated Derivatives [Member] | Forwards [Member] | MXN
Derivatives Fair Value [Line Items]
Asset	0	159
Liability	0	0
Undesignated Derivatives [Member] | Forwards [Member] | SEK
Derivatives Fair Value [Line Items]
Asset	0	0
Liability	797	0
Undesignated Derivatives [Member] | Interest Rate Swaps [Member] | USD
Derivatives Fair Value [Line Items]
Asset	0	27
Liability	0	0
Designated As Hedging Instrument [Member] | Net Investment Hedges [Member] | BRL
Derivatives Fair Value [Line Items]
Asset	0	0
Liability	0	3,165
Designated As Hedging Instrument [Member] | Net Investment Hedges [Member] | GBP
Derivatives Fair Value [Line Items]
Asset	807	0
Liability	13,189	949
Designated As Hedging Instrument [Member] | Net Investment Hedges [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	0	5,634
Liability	1,926	0
Designated As Hedging Instrument [Member] | Cash Flow Hedges [Member] | Interest Rate Swaps [Member] | EUR
Derivatives Fair Value [Line Items]
Asset	0	0
Liability	$ 0	$ 428

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Summary of Undesignated Foreign Currency Forwards Activity (Detail) - Forwards [Member] - Undesignated Derivatives [Member]	12 Months Ended
	Dec. 31, 2019USD ($)Derivative	Dec. 31, 2018USD ($)Derivative	Dec. 31, 2017USD ($)Derivative
Derivative [Line Items]
Notional amounts at January 1	$ 669,000,000	$ 574,000,000	$ 457,000,000
New contracts	2,571,000,000	860,000,000	410,000,000
Matured, expired or settled contracts	(2,133,000,000)	(765,000,000)	(293,000,000)
Notional amounts at December 31	$ 1,107,000,000	$ 669,000,000	$ 574,000,000
Weighted average forward rate at December 31	0	0	0
Active contracts at December 31 | Derivative	0	0	0
CAD
Derivative [Line Items]
Notional amounts at January 1	$ 55,000,000	$ 56,000,000	$ 38,000,000
New contracts	201,000,000	28,000,000	41,000,000
Matured, expired or settled contracts	(136,000,000)	(29,000,000)	(23,000,000)
Notional amounts at December 31	$ 120,000,000	$ 55,000,000	$ 56,000,000
Weighted average forward rate at December 31	1.32	1.28	1.29
Active contracts at December 31 | Derivative	40	24	24
EUR
Derivative [Line Items]
Notional amounts at January 1	$ 314,000,000	$ 233,000,000	$ 197,000,000
New contracts	619,000,000	252,000,000	143,000,000
Matured, expired or settled contracts	(352,000,000)	(171,000,000)	(107,000,000)
Notional amounts at December 31	$ 581,000,000	$ 314,000,000	$ 233,000,000
Weighted average forward rate at December 31	1.13	1.21	1.17
Active contracts at December 31 | Derivative	53	35	29
GBP
Derivative [Line Items]
Notional amounts at January 1	$ 118,000,000	$ 132,000,000	$ 78,000,000
New contracts	1,111,000,000	55,000,000	151,000,000
Matured, expired or settled contracts	(1,051,000,000)	(69,000,000)	(97,000,000)
Notional amounts at December 31	$ 178,000,000	$ 118,000,000	$ 132,000,000
Weighted average forward rate at December 31	1.32	1.32	1.29
Active contracts at December 31 | Derivative	50	24	20
JPY
Derivative [Line Items]
Notional amounts at January 1	$ 177,000,000	$ 153,000,000	$ 144,000,000
New contracts	85,000,000	102,000,000	75,000,000
Matured, expired or settled contracts	(80,000,000)	(78,000,000)	(66,000,000)
Notional amounts at December 31	$ 182,000,000	$ 177,000,000	$ 153,000,000
Weighted average forward rate at December 31	103.39	105.17	106.25
Active contracts at December 31 | Derivative	44	34	34
SEK
Derivative [Line Items]
Notional amounts at January 1	$ 0
New contracts	31,000,000
Matured, expired or settled contracts	0
Notional amounts at December 31	$ 31,000,000	$ 0
Weighted average forward rate at December 31	9.42
Active contracts at December 31 | Derivative	20
Other
Derivative [Line Items]
Notional amounts at January 1	$ 5,000,000	0
New contracts	524,000,000	423,000,000
Matured, expired or settled contracts	(514,000,000)	(418,000,000)
Notional amounts at December 31	$ 15,000,000	$ 5,000,000	$ 0
Weighted average forward rate at December 31	0	0
Active contracts at December 31 | Derivative	0	0

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements - Summary of Undesignated Financial Instruments Exercised and Realized and Unrealized Gains (Losses) in Foreign Currency and Derivative Gains (Losses) Net (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)Contract	Dec. 31, 2018USD ($)Contract	Dec. 31, 2017USD ($)Contract
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Exercised contracts | Contract	115	89	44
Realized gains (losses) on the matured, expired or settled contracts	$ 28	$ (3)	$ 13
Unrealized gains (losses) on the change in fair value of outstanding contracts	$ (10)	$ 29	$ (51)

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements - Foreign Currency Contracts Activity (Detail) - Forwards [Member] - Net Investment Hedges [Member] - Designated As Hedging Instrument [Member]	12 Months Ended
	Dec. 31, 2019USD ($)Derivative	Dec. 31, 2018USD ($)Derivative	Dec. 31, 2017USD ($)Derivative
Derivative [Line Items]
Notional amounts at January 1	$ 687,000,000	$ 99,000,000	$ 146,000,000
New contracts	1,655,000,000	2,848,000,000	226,000,000
Matured, expired or settled contracts	(1,858,000,000)	(2,260,000,000)	(273,000,000)
Notional amounts at December 31	484,000,000	687,000,000	99,000,000
BRL
Derivative [Line Items]
Notional amounts at January 1	460,000,000	0
New contracts	489,000,000	1,568,000,000
Matured, expired or settled contracts	(949,000,000)	(1,108,000,000)
Notional amounts at December 31	$ 0	$ 460,000,000	0
Weighted average forward rate at December 31	0	3.91
Active contracts at December 31 | Derivative	0	1
CAD
Derivative [Line Items]
Notional amounts at January 1	$ 100,000,000	$ 99,000,000	100,000,000
New contracts	97,000,000	100,000,000	99,000,000
Matured, expired or settled contracts	(100,000,000)	(99,000,000)	(100,000,000)
Notional amounts at December 31	$ 97,000,000	$ 100,000,000	$ 99,000,000
Weighted average forward rate at December 31	1.32	1.28	1.34
Active contracts at December 31 | Derivative	2	2	2
EUR
Derivative [Line Items]
Notional amounts at January 1	$ 0	$ 0
New contracts	420,000,000	1,053,000,000
Matured, expired or settled contracts	(420,000,000)	(1,053,000,000)
Notional amounts at December 31	$ 0	$ 0	$ 0
Weighted average forward rate at December 31	0	0
Active contracts at December 31 | Derivative	0	0
GBP
Derivative [Line Items]
Notional amounts at January 1	$ 127,000,000	$ 0	46,000,000
New contracts	649,000,000	127,000,000	127,000,000
Matured, expired or settled contracts	(389,000,000)	0	(173,000,000)
Notional amounts at December 31	$ 387,000,000	$ 127,000,000	$ 0
Weighted average forward rate at December 31	1.29	1.28	0
Active contracts at December 31 | Derivative	5	2	0

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements - Summary of Activity in Interest Rate Swaps (Detail) - Interest Rate Swaps [Member] - Cash Flow Hedges [Member] - Designated As Hedging Instrument [Member] - USD ($)		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Notional amounts at January 1		$ 500,000,000	$ 271,000,000
New contracts	[1]		800,000,000
Matured, expired or settled contracts	[1],[2]		(571,000,000)
Notional amounts at December 31			500,000,000	$ 271,000,000
EUR
Derivative [Line Items]
Notional amounts at January 1		500,000,000	0
New contracts	[1]	0	500,000,000
Matured, expired or settled contracts	[1],[2]	(500,000,000)	0
Notional amounts at December 31		0	500,000,000	0
CAD
Derivative [Line Items]
Notional amounts at January 1		271,000,000	271,000,000	271,000,000
New contracts	[1]	0		0
Matured, expired or settled contracts	[1],[2]	(271,000,000)		0
Notional amounts at December 31		0	271,000,000	271,000,000
USD
Derivative [Line Items]
Notional amounts at January 1		$ 0	0
New contracts	[1]		300,000,000
Matured, expired or settled contracts	[1],[2]		(300,000,000)
Notional amounts at December 31			$ 0	$ 0
[1]	During 2018, we entered into two interest rate swap contracts with an aggregated notional amount of €400.0 million (
[2]	During 2018, we repaid CAD 201.4 million ($158.9 million) on our 2015 Canadian Term Loan. At that time, we settled the interest rate swaps related to the 2015 Canadian Term Loan as we determined it was no longer probable that we would continue to have the future cash flows as originally hedged. As a result, the $ 12.5 million gain in AOCI/L at the time of settlement was reclassified to Interest Expense during 2018.

Financial Instruments and Fai_8

Financial Instruments and Fair Value Measurements - Summary of Activity in Interest Rate Swaps (Parenthetical) (Detail) € in Millions, $ in Millions, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)	Dec. 31, 2019	Dec. 31, 2018USD ($)Contract	Dec. 31, 2018CAD ($)Contract	Dec. 31, 2018EUR (€)
Senior Notes [Member]
Derivative [Line Items]
Interest rate, Description		Euribor plus 0.3%
Interest rate		0.30%
Senior Notes [Member] | Interest Rate Swaps [Member]
Derivative [Line Items]
Number of Contracts | Contract			2	2
Notional value of derivative			$ 499.7		€ 400
2015 Canadian Term Loan [Member] | Interest Rate Swaps [Member]
Derivative [Line Items]
Repayments of debt			$ 158.9	$ 201.4
Gain on derivative | $	$ 12.5
Euribor [Member] | Senior Notes [Member]
Derivative [Line Items]
Interest rate, Description			Euribor plus 0.3%	Euribor plus 0.3%
Interest rate			0.30%	0.30%

Financial Instruments and Fai_9

Financial Instruments and Fair Value Measurements - Summary of Debt and Accrued Interest, Designated as Hedge (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivatives Fair Value [Line Items]
Senior Notes Outstanding	$ 9,700
Designated As Hedging Instrument [Member] | British Pound Sterling Senior Notes [Member]
Derivatives Fair Value [Line Items]
Senior Notes Outstanding	329	$ 269	$ 436
Designated As Hedging Instrument [Member] | Euro Senior Notes [Member]
Derivatives Fair Value [Line Items]
Senior Notes Outstanding	$ 850	$ 2,645	$ 3,620

Financial Instruments and Fa_10

Financial Instruments and Fair Value Measurements - Summary of Recognized Unrealized Gains (Losses) in Foreign Currency and Derivative Gains (Losses) Net on Remeasurement of Unhedged Portion of Debt and Accrued Interest (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Derivatives Fair Value [Line Items]
Foreign currency translation gains (losses), net	$ 98,482	$ (190,590)	$ 63,455
Forward Contracts [Member]
Derivatives Fair Value [Line Items]
Foreign currency translation gains (losses), net	$ (64,000)	$ 96,000	$ (23,000)

Financial Instruments and Fa_11

Financial Instruments and Fair Value Measurements - Summary of Changes in Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative translation adjustment	$ (20,593)	$ (368,130)	$ 553,972
Total foreign currency translation gains (losses), net	98,482	(190,590)	63,455
Total unrealized gains (losses) on derivative contracts, net	(1,335)	(1,323)	22,591
Total change in other comprehensive income (loss)	97,147	(191,913)	86,046
Designated As Hedging Instrument [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative hedging instruments	(22,600)	26,457	(12,762)
Designated As Hedging Instrument [Member] | Non derivative Net Investment Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Nonderivative net investment hedges	141,675	151,083	(477,755)
Designated As Hedging Instrument [Member] | Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative hedging instruments	4,665	(5,815)	12,726
Designated As Hedging Instrument [Member] | Our Share of Derivatives from Unconsolidated Co-Investment Ventures [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative hedging instruments	$ (6,000)	$ 4,492	$ 9,865

Financial Instruments and Fa_12

Financial Instruments and Fair Value Measurements - Summary of Changes in Other Comprehensive Income (Loss) (Parenthetical) (Detail) $ in Millions	Dec. 31, 2019USD ($)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Derivative Instruments Gain Loss [Line Items]
Amount to be reclassified to interest expense, next 12 months	$ 4.2

Financial Instruments and Fa_13

Financial Instruments and Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	$ 11,905,877	$ 11,089,815
Fair Value of Debt	12,527,858	11,453,129
Credit Facilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	184,255	50,500
Fair Value of Debt	184,255	50,513
Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	9,660,570	8,304,147
Fair Value of Debt	10,228,715	8,606,864
Term Loans and Unsecured Other [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	1,441,882	1,921,428
Fair Value of Debt	1,463,841	1,946,335
Secured Mortgages [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	619,170	813,740
Fair Value of Debt	$ 651,047	$ 849,417

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Percentage of agreement indemnification	100.00%
Outstanding performance and surety bonds	$ 240.6	$ 212.6

Business Segments - Additional

Business Segments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2019Segment
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								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Total revenues	$ 826,016	$ 942,181	$ 790,372	$ 772,052	$ 807,085	$ 682,432	$ 621,276	$ 693,656	$ 3,330,621	$ 2,804,449	$ 2,618,134
Operating income	559,640	471,480	442,056	376,590	598,646	375,579	281,555	432,218	1,849,766	1,687,998	1,954,031
General and administrative expenses									266,718	238,985	231,059
Depreciation and amortization expenses									1,139,879	947,214	879,140
Gains on dispositions of development properties and land, net	164,260	63,935	196,941	42,441	140,531	108,049	63,669	157,568	467,577	469,817	327,528
Gains on other dispositions of investments in real estate, net	157,841	$ 59,379	$ 27,254	$ 145,767	217,035	$ 86,009	$ 30,592	$ 37,543	390,241	371,179	855,437
Earnings from unconsolidated entities, net									200,178	298,260	248,567
Interest expense									(239,953)	(229,141)	(274,486)
Interest and other income, net									24,213	14,663	13,731
Foreign currency and derivative gains (losses), net									(41,715)	117,096	(57,896)
Losses on early extinguishment of debt, net									(16,126)	(2,586)	(68,379)
Earnings before income taxes									1,776,363	1,886,290	1,815,568
Total assets	40,031,850				38,417,664				40,031,850	38,417,664
Investments in and advances to unconsolidated entities	6,237,371				5,745,294				6,237,371	5,745,294
Assets held for sale or contribution	720,685				622,288				720,685	622,288
Lease right-of-use assets	486,330				0				486,330	0
Cash and cash equivalents	1,088,855				343,856				1,088,855	343,856	447,046	$ 807,316
Other assets	1,711,857				1,775,919				1,711,857	1,775,919
Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total assets	31,590,756				31,431,376				31,590,756	31,431,376
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income									2,398,545	2,033,201	1,881,265
Total assets	31,630,924				31,472,913				31,630,924	31,472,913
Operating Segments [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues									2,838,735	2,398,149	2,244,245
Operating income									2,091,320	1,783,941	1,662,517
Operating Segments [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues									491,886	406,300	373,889
Operating income									307,225	249,260	218,748
Total assets	40,168				41,537				40,168	41,537
Operating Segments [Member] | U.S. [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues									2,645,194	2,173,279	2,025,184
Operating income									1,953,727	1,621,665	1,519,164
Total assets	27,999,868				27,666,200				27,999,868	27,666,200
Operating Segments [Member] | U.S. [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues									86,271	74,618	176,720
Operating income									(10,945)	4,712	106,471
Total assets	14,529				15,802				14,529	15,802
Operating Segments [Member] | Other Americas [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues									94,984	119,954	84,789
Operating income									69,393	89,044	58,842
Total assets	1,332,237				1,712,862				1,332,237	1,712,862
Operating Segments [Member] | Other Americas [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues									40,347	32,434	28,494
Operating income									27,369	19,874	16,811
Operating Segments [Member] | Europe [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues									44,356	54,405	73,708
Operating income									27,525	34,807	51,277
Total assets	1,379,579				1,040,061				1,379,579	1,040,061
Operating Segments [Member] | Europe [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues									283,909	174,898	106,862
Operating income									246,213	136,240	68,127
Total assets	25,280				25,280				25,280	25,280
Operating Segments [Member] | Asia [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues									54,201	50,511	60,564
Operating income									40,675	38,425	33,234
Total assets	879,072				1,012,253				879,072	1,012,253
Operating Segments [Member] | Asia [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues									81,359	124,350	61,813
Operating income									44,588	88,434	27,339
Total assets	359				455				359	455
Reconciling Items [Member]
Segment Reporting Information [Line Items]
Operating income									1,849,766	1,687,998	1,954,031
General and administrative expenses									(266,718)	(238,985)	(231,059)
Depreciation and amortization expenses									(1,139,879)	(947,214)	(879,140)
Gains on dispositions of development properties and land, net									467,577	469,817	327,528
Gains on other dispositions of investments in real estate, net									390,241	371,179	855,437
Earnings from unconsolidated entities, net									200,178	298,260	248,567
Interest expense									(239,953)	(229,141)	(274,486)
Interest and other income, net									24,213	14,663	13,731
Foreign currency and derivative gains (losses), net									(41,715)	117,096	(57,896)
Losses on early extinguishment of debt, net									(16,126)	(2,586)	$ (68,379)
Total assets	8,400,926				6,944,751				8,400,926	6,944,751
Investments in and advances to unconsolidated entities	6,237,371				5,745,294				6,237,371	5,745,294
Assets held for sale or contribution	720,685				622,288				720,685	622,288
Lease right-of-use assets	111,439				0				111,439	0
Cash and cash equivalents	1,088,855				343,856				1,088,855	343,856
Other assets	$ 242,576				$ 233,313				$ 242,576	$ 233,313

Business Segments - Segment R_2

Business Segments - Segment Reporting, Reconciliation of Revenues, Operating Income and Assets (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Strategic Capital [Member] | Europe [Member]
Segment Reporting Information [Line Items]
Goodwill	$ 25.3	$ 25.3

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information - Additional Information (Detail) - USD ($) shares in Millions, $ in Millions	Aug. 22, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 31, 2019	Jul. 31, 2017
Supplemental Cash Flow Information [Line Items]
Noncash acquisition, real estate acquired			$ 11.8
Lease ROU assets		$ 523.8
Lease liabilities		527.3
Capitalization for equity based compensation expense		21.4	26.4	$ 28.8
Partners’ interest through distribution of an operating property		$ 11.4
Acquired notes receivable backed by real estate				$ 53.8
DCT Transaction [Member]
Supplemental Cash Flow Information [Line Items]
Business acquisition consideration transferred	$ 8,500
Limited Partners [Member] | Prologis, L.P. [Member] | Common [Member]
Supplemental Cash Flow Information [Line Items]
PLD units redeemed for common shares		1.2		1.5
Unconsolidated Co-Investment Ventures [Member]
Supplemental Cash Flow Information [Line Items]
Equity ownership interest received		$ 80.9
Unconsolidated Entities [Member]
Supplemental Cash Flow Information [Line Items]
Equity ownership interest received		$ 646.8	$ 386.7	$ 153.3
Prologis Brazil Logistics Venture [Member] | Unconsolidated Co-Investment Ventures [Member]
Supplemental Cash Flow Information [Line Items]
Ownership percentage in property fund		20.00%			20.00%
Prologis China Core Logistics Fund, LP [Member] | Unconsolidated Co-Investment Ventures [Member]
Supplemental Cash Flow Information [Line Items]
Ownership percentage in property fund		15.60%	0.00%
Prologis Targeted U S Logistics Fund [Member]
Supplemental Cash Flow Information [Line Items]
Equity ownership interest received				1,100
Acquired notes receivable backed by real estate				19.5
Secured Debt				$ 956		$ 956
Prologis Targeted U S Logistics Fund [Member] | Unconsolidated Co-Investment Ventures [Member]
Supplemental Cash Flow Information [Line Items]
Ownership percentage in property fund		27.30%	27.40%

Selected Quarterly Financial _3

Selected Quarterly Financial Data (Unaudited) - Selected Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Selected Quarterly Financial Data [Line Items]
Rental revenues	$ 723,857	$ 710,465	$ 700,689	$ 696,807	$ 679,195	$ 608,974	$ 544,679	$ 555,943	$ 2,831,818	$ 2,388,791	$ 2,225,141
Total revenues	826,016	942,181	790,372	772,052	807,085	682,432	621,276	693,656	3,330,621	2,804,449	2,618,134
Rental expenses	(184,196)	(180,864)	(181,138)	(188,068)	(177,194)	(147,184)	(133,329)	(142,941)	(734,266)	(600,648)	(569,523)
Gains on dispositions of development properties and land, net	164,260	63,935	196,941	42,441	140,531	108,049	63,669	157,568	467,577	469,817	327,528
Gains on other dispositions of investments in real estate, net	157,841	59,379	27,254	145,767	217,035	86,009	30,592	37,543	390,241	371,179	855,437
Operating income	559,640	471,480	442,056	376,590	598,646	375,579	281,555	432,218	1,849,766	1,687,998	1,954,031
Consolidated net earnings	426,242	491,013	410,826	373,765	690,490	375,520	364,991	391,959	1,701,846	1,822,960	1,760,959
Net earnings attributable to common stockholders/unit holders	$ 385,480	$ 450,639	$ 383,784	$ 347,047	$ 596,568	$ 346,345	$ 334,611	$ 365,902	$ 1,566,950	$ 1,643,426	$ 1,641,931
Net earnings per share/unit attributable to common stockholders/unitholders - Basic	$ 0.61	$ 0.71	$ 0.61	$ 0.55	$ 0.95	$ 0.60	$ 0.63	$ 0.69	$ 2.48	$ 2.90	$ 3.10
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted	$ 0.61	$ 0.71	$ 0.60	$ 0.55	$ 0.94	$ 0.60	$ 0.62	$ 0.68	$ 2.46	$ 2.87	$ 3.06
Prologis, L.P. [Member]
Selected Quarterly Financial Data [Line Items]
Rental revenues	$ 723,857	$ 710,465	$ 700,689	$ 696,807	$ 679,195	$ 608,974	$ 544,679	$ 555,943
Total revenues	826,016	942,181	790,372	772,052	807,085	682,432	621,276	693,656
Rental expenses	(184,196)	(180,864)	(181,138)	(188,068)	(177,194)	(147,184)	(133,329)	(142,941)
Gains on dispositions of development properties and land, net	164,260	63,935	196,941	42,441	140,531	108,049	63,669	157,568
Gains on other dispositions of investments in real estate, net	157,841	59,379	27,254	145,767	217,035	86,009	30,592	37,543
Operating income	559,640	471,480	442,056	376,590	598,646	375,579	281,555	432,218
Consolidated net earnings	426,242	491,013	410,826	373,765	690,490	375,520	364,991	391,959
Net earnings attributable to common stockholders/unit holders	$ 396,527	$ 463,997	$ 395,470	$ 357,621	$ 614,490	$ 356,765	$ 344,633	$ 376,425
Net earnings per share/unit attributable to common stockholders/unitholders - Basic	$ 0.61	$ 0.71	$ 0.61	$ 0.55	$ 0.95	$ 0.60	$ 0.63	$ 0.69
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted	$ 0.61	$ 0.71	$ 0.60	$ 0.55	$ 0.94	$ 0.60	$ 0.62	$ 0.68

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Subsequent Events [Member] - Liberty Transaction [Member] $ in Billions	Feb. 04, 2020USD ($)
Subsequent Event [Line Items]
Business acquisition consideration transferred	$ 13
Business acquisition stock conversion ratio	0.675

Real Estate and Accumulated D_2

Real Estate and Accumulated Depreciation (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)Property	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1,981
Land	$ 8,846,527
Building and Improvements	17,656,087
Costs capitalized subsequent to acquisition	6,654,486
Carrying amount of land	9,023,648
Carrying amount of buildings and improvements	24,133,452
Carrying amount of land and buildings and improvements, Total	33,157,100	$ 32,774,956	$ 24,178,816	$ 25,375,539
Accumulated Depreciation	$ (5,294,212)	$ (4,550,958)	$ (3,971,501)	$ (3,679,479)
Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	105
Land	$ 803,440
Building and Improvements	7,651
Costs capitalized subsequent to acquisition	1,058,176
Carrying amount of land	803,440
Carrying amount of buildings and improvements	1,065,827
Carrying amount of land and buildings and improvements, Total	$ 1,869,267
United States: Markets [Member] | U.S. [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	54
Land	$ 334,385
Building and Improvements	7,651
Costs capitalized subsequent to acquisition	568,796
Carrying amount of land	334,385
Carrying amount of buildings and improvements	576,447
Carrying amount of land and buildings and improvements, Total	$ 910,832
United States: Markets [Member] | U.S. [Member] | Atlanta [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 3,209
Building and Improvements	0
Costs capitalized subsequent to acquisition	451
Carrying amount of land	3,209
Carrying amount of buildings and improvements	451
Carrying amount of land and buildings and improvements, Total	$ 3,660
United States: Markets [Member] | U.S. [Member] | Central Valley [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	3
Land	$ 14,705
Building and Improvements	0
Costs capitalized subsequent to acquisition	60,894
Carrying amount of land	14,705
Carrying amount of buildings and improvements	60,894
Carrying amount of land and buildings and improvements, Total	$ 75,599
Date of Construction/ Acquisition	2019
United States: Markets [Member] | U.S. [Member] | Chicago [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	3
Land	$ 11,839
Building and Improvements	0
Costs capitalized subsequent to acquisition	25,166
Carrying amount of land	11,839
Carrying amount of buildings and improvements	25,166
Carrying amount of land and buildings and improvements, Total	$ 37,005
Date of Construction/ Acquisition	2019
United States: Markets [Member] | U.S. [Member] | Dallas/Fort Worth [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	5
Land	$ 4,926
Building and Improvements	0
Costs capitalized subsequent to acquisition	25,566
Carrying amount of land	4,926
Carrying amount of buildings and improvements	25,566
Carrying amount of land and buildings and improvements, Total	$ 30,492
Date of Construction/ Acquisition	2019
United States: Markets [Member] | U.S. [Member] | Denver [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 13,845
Building and Improvements	0
Costs capitalized subsequent to acquisition	31,182
Carrying amount of land	13,845
Carrying amount of buildings and improvements	31,182
Carrying amount of land and buildings and improvements, Total	$ 45,027
Date of Construction/ Acquisition	2019
United States: Markets [Member] | U.S. [Member] | Houston [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 1,672
Building and Improvements	0
Costs capitalized subsequent to acquisition	2,401
Carrying amount of land	1,672
Carrying amount of buildings and improvements	2,401
Carrying amount of land and buildings and improvements, Total	$ 4,073
United States: Markets [Member] | U.S. [Member] | Indianapolis [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 1,969
Building and Improvements	0
Costs capitalized subsequent to acquisition	0
Carrying amount of land	1,969
Carrying amount of buildings and improvements	0
Carrying amount of land and buildings and improvements, Total	$ 1,969
United States: Markets [Member] | U.S. [Member] | Las Vegas [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 17,544
Building and Improvements	0
Costs capitalized subsequent to acquisition	29,391
Carrying amount of land	17,544
Carrying amount of buildings and improvements	29,391
Carrying amount of land and buildings and improvements, Total	$ 46,935
Date of Construction/ Acquisition	2019
United States: Markets [Member] | U.S. [Member] | Louisville [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 1,788
Building and Improvements	0
Costs capitalized subsequent to acquisition	351
Carrying amount of land	1,788
Carrying amount of buildings and improvements	351
Carrying amount of land and buildings and improvements, Total	$ 2,139
United States: Markets [Member] | U.S. [Member] | Nashville [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 5,668
Building and Improvements	0
Costs capitalized subsequent to acquisition	17,106
Carrying amount of land	5,668
Carrying amount of buildings and improvements	17,106
Carrying amount of land and buildings and improvements, Total	$ 22,774
Date of Construction/ Acquisition	2019
United States: Markets [Member] | U.S. [Member] | New Jersey/New York City [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 40,963
Building and Improvements	0
Costs capitalized subsequent to acquisition	37,821
Carrying amount of land	40,963
Carrying amount of buildings and improvements	37,821
Carrying amount of land and buildings and improvements, Total	$ 78,784
Date of Construction/ Acquisition	2019
United States: Markets [Member] | U.S. [Member] | Orlando [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	4
Land	$ 24,340
Building and Improvements	0
Costs capitalized subsequent to acquisition	16,852
Carrying amount of land	24,340
Carrying amount of buildings and improvements	16,852
Carrying amount of land and buildings and improvements, Total	$ 41,192
United States: Markets [Member] | U.S. [Member] | Phoenix [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	8
Land	$ 43,651
Building and Improvements	0
Costs capitalized subsequent to acquisition	42,841
Carrying amount of land	43,651
Carrying amount of buildings and improvements	42,841
Carrying amount of land and buildings and improvements, Total	$ 86,492
Date of Construction/ Acquisition	2019
United States: Markets [Member] | U.S. [Member] | Portland [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 12,959
Building and Improvements	0
Costs capitalized subsequent to acquisition	3,588
Carrying amount of land	12,959
Carrying amount of buildings and improvements	3,588
Carrying amount of land and buildings and improvements, Total	$ 16,547
United States: Markets [Member] | U.S. [Member] | Reno [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 1,471
Building and Improvements	0
Costs capitalized subsequent to acquisition	1,207
Carrying amount of land	1,471
Carrying amount of buildings and improvements	1,207
Carrying amount of land and buildings and improvements, Total	$ 2,678
United States: Markets [Member] | U.S. [Member] | San Francisco Bay Area [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	6
Land	$ 44,177
Building and Improvements	7,532
Costs capitalized subsequent to acquisition	77,060
Carrying amount of land	44,177
Carrying amount of buildings and improvements	84,592
Carrying amount of land and buildings and improvements, Total	$ 128,769
Date of Construction/ Acquisition	2019
United States: Markets [Member] | U.S. [Member] | Seattle [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 31,495
Building and Improvements	0
Costs capitalized subsequent to acquisition	19,116
Carrying amount of land	31,495
Carrying amount of buildings and improvements	19,116
Carrying amount of land and buildings and improvements, Total	$ 50,611
United States: Markets [Member] | U.S. [Member] | South Florida [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 15,145
Building and Improvements	0
Costs capitalized subsequent to acquisition	25,037
Carrying amount of land	15,145
Carrying amount of buildings and improvements	25,037
Carrying amount of land and buildings and improvements, Total	$ 40,182
Date of Construction/ Acquisition	2019
United States: Markets [Member] | U.S. [Member] | Southern California [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	5
Land	$ 38,264
Building and Improvements	0
Costs capitalized subsequent to acquisition	135,409
Carrying amount of land	38,264
Carrying amount of buildings and improvements	135,409
Carrying amount of land and buildings and improvements, Total	$ 173,673
United States: Markets [Member] | U.S. [Member] | Baltimore Washington D C | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 4,005
Building and Improvements	0
Costs capitalized subsequent to acquisition	9,125
Carrying amount of land	4,005
Carrying amount of buildings and improvements	9,125
Carrying amount of land and buildings and improvements, Total	$ 13,130
United States: Markets [Member] | U.S. [Member] | Cincinnati | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 750
Building and Improvements	119
Costs capitalized subsequent to acquisition	8,232
Carrying amount of land	750
Carrying amount of buildings and improvements	8,351
Carrying amount of land and buildings and improvements, Total	$ 9,101
Date of Construction/ Acquisition	2019
Other Americas Markets [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	5
Land	$ 36,236
Building and Improvements	0
Costs capitalized subsequent to acquisition	28,319
Carrying amount of land	36,236
Carrying amount of buildings and improvements	28,319
Carrying amount of land and buildings and improvements, Total	$ 64,555
Other Americas Markets [Member] | Canada [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 10,346
Building and Improvements	0
Costs capitalized subsequent to acquisition	1,408
Carrying amount of land	10,346
Carrying amount of buildings and improvements	1,408
Carrying amount of land and buildings and improvements, Total	$ 11,754
Other Americas Markets [Member] | Mexico [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	4
Land	$ 25,890
Building and Improvements	0
Costs capitalized subsequent to acquisition	26,911
Carrying amount of land	25,890
Carrying amount of buildings and improvements	26,911
Carrying amount of land and buildings and improvements, Total	$ 52,801
Date of Construction/ Acquisition	2019
Europe Markets | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	39
Land	$ 267,992
Building and Improvements	0
Costs capitalized subsequent to acquisition	240,033
Carrying amount of land	267,992
Carrying amount of buildings and improvements	240,033
Carrying amount of land and buildings and improvements, Total	$ 508,025
Europe Markets | France [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	4
Land	$ 14,108
Building and Improvements	0
Costs capitalized subsequent to acquisition	30,327
Carrying amount of land	14,108
Carrying amount of buildings and improvements	30,327
Carrying amount of land and buildings and improvements, Total	$ 44,435
Date of Construction/ Acquisition	2019
Europe Markets | Germany [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	4
Land	$ 16,456
Building and Improvements	0
Costs capitalized subsequent to acquisition	27,540
Carrying amount of land	16,456
Carrying amount of buildings and improvements	27,540
Carrying amount of land and buildings and improvements, Total	$ 43,996
Date of Construction/ Acquisition	2019
Europe Markets | United Kingdom [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	7
Land	$ 124,163
Building and Improvements	0
Costs capitalized subsequent to acquisition	17,672
Carrying amount of land	124,163
Carrying amount of buildings and improvements	17,672
Carrying amount of land and buildings and improvements, Total	$ 141,835
Europe Markets | Spain [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 10,184
Building and Improvements	0
Costs capitalized subsequent to acquisition	11,259
Carrying amount of land	10,184
Carrying amount of buildings and improvements	11,259
Carrying amount of land and buildings and improvements, Total	$ 21,443
Date of Construction/ Acquisition	2019
Europe Markets | Czech Republic | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 7,176
Building and Improvements	0
Costs capitalized subsequent to acquisition	18,356
Carrying amount of land	7,176
Carrying amount of buildings and improvements	18,356
Carrying amount of land and buildings and improvements, Total	$ 25,532
Date of Construction/ Acquisition	2019
Europe Markets | Italy [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	7
Land	$ 42,451
Building and Improvements	0
Costs capitalized subsequent to acquisition	17,010
Carrying amount of land	42,451
Carrying amount of buildings and improvements	17,010
Carrying amount of land and buildings and improvements, Total	$ 59,461
Europe Markets | Netherlands [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	7
Land	$ 31,468
Building and Improvements	0
Costs capitalized subsequent to acquisition	47,771
Carrying amount of land	31,468
Carrying amount of buildings and improvements	47,771
Carrying amount of land and buildings and improvements, Total	$ 79,239
Date of Construction/ Acquisition	2019
Europe Markets | Poland [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	4
Land	$ 11,318
Building and Improvements	0
Costs capitalized subsequent to acquisition	35,792
Carrying amount of land	11,318
Carrying amount of buildings and improvements	35,792
Carrying amount of land and buildings and improvements, Total	$ 47,110
Date of Construction/ Acquisition	2019
Europe Markets | Slovakia [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 4,614
Building and Improvements	0
Costs capitalized subsequent to acquisition	29,756
Carrying amount of land	4,614
Carrying amount of buildings and improvements	29,756
Carrying amount of land and buildings and improvements, Total	$ 34,370
Date of Construction/ Acquisition	2019
Europe Markets | Sweden [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 6,054
Building and Improvements	0
Costs capitalized subsequent to acquisition	4,550
Carrying amount of land	6,054
Carrying amount of buildings and improvements	4,550
Carrying amount of land and buildings and improvements, Total	$ 10,604
Asia Markets [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	7
Land	$ 164,827
Building and Improvements	0
Costs capitalized subsequent to acquisition	221,028
Carrying amount of land	164,827
Carrying amount of buildings and improvements	221,028
Carrying amount of land and buildings and improvements, Total	$ 385,855
Asia Markets [Member] | Japan [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	7
Land	$ 164,827
Building and Improvements	0
Costs capitalized subsequent to acquisition	221,028
Carrying amount of land	164,827
Carrying amount of buildings and improvements	221,028
Carrying amount of land and buildings and improvements, Total	$ 385,855
Date of Construction/ Acquisition	2019
Operating Properties [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1,876
Land	$ 8,043,087
Building and Improvements	17,648,436
Costs capitalized subsequent to acquisition	5,596,310
Carrying amount of land	8,220,208
Carrying amount of buildings and improvements	23,067,625
Carrying amount of land and buildings and improvements, Total	31,287,833
Accumulated Depreciation	$ (5,294,212)
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1,811
Land	$ 7,601,877
Building and Improvements	17,045,336
Costs capitalized subsequent to acquisition	5,001,026
Carrying amount of land	7,747,154
Carrying amount of buildings and improvements	21,901,085
Carrying amount of land and buildings and improvements, Total	29,648,239
Accumulated Depreciation	$ (5,092,482)
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Atlanta [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	101
Land	$ 216,372
Building and Improvements	829,879
Costs capitalized subsequent to acquisition	272,839
Carrying amount of land	218,105
Carrying amount of buildings and improvements	1,100,985
Carrying amount of land and buildings and improvements, Total	1,319,090
Accumulated Depreciation	$ (206,478)
Date of Construction/ Acquisition	1994-2019
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Austin [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	10
Land	$ 12,783
Building and Improvements	52,335
Costs capitalized subsequent to acquisition	7,859
Carrying amount of land	12,837
Carrying amount of buildings and improvements	60,140
Carrying amount of land and buildings and improvements, Total	72,977
Accumulated Depreciation	$ (22,921)
Date of Construction/ Acquisition	1994-2015
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Central and Eastern Pennsylvania [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	42
Land	$ 252,910
Building and Improvements	843,408
Costs capitalized subsequent to acquisition	185,974
Carrying amount of land	258,473
Carrying amount of buildings and improvements	1,023,819
Carrying amount of land and buildings and improvements, Total	1,282,292
Accumulated Depreciation	$ (197,112)
Date of Construction/ Acquisition	2002-2018
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Central Valley [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	30
Land	$ 145,885
Building and Improvements	386,853
Costs capitalized subsequent to acquisition	512,850
Carrying amount of land	156,628
Carrying amount of buildings and improvements	888,960
Carrying amount of land and buildings and improvements, Total	1,045,588
Accumulated Depreciation	$ (152,639)
Date of Construction/ Acquisition	1999-2019
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Charlotte [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	16
Land	$ 15,202
Building and Improvements	32,889
Costs capitalized subsequent to acquisition	60,584
Carrying amount of land	17,465
Carrying amount of buildings and improvements	91,210
Carrying amount of land and buildings and improvements, Total	108,675
Accumulated Depreciation	$ (40,658)
Date of Construction/ Acquisition	1994-2015
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Chicago [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	186
Land	$ 585,670
Building and Improvements	1,858,769
Costs capitalized subsequent to acquisition	358,871
Carrying amount of land	597,329
Carrying amount of buildings and improvements	2,205,981
Carrying amount of land and buildings and improvements, Total	2,803,310
Accumulated Depreciation	$ (518,779)
Date of Construction/ Acquisition	1995-2019
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Cincinnati [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	28
Land	$ 51,705
Building and Improvements	197,745
Costs capitalized subsequent to acquisition	101,688
Carrying amount of land	54,820
Carrying amount of buildings and improvements	296,318
Carrying amount of land and buildings and improvements, Total	351,138
Accumulated Depreciation	$ (46,498)
Date of Construction/ Acquisition	1996-2019
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Columbus [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	23
Land	$ 24,685
Building and Improvements	121,369
Costs capitalized subsequent to acquisition	52,230
Carrying amount of land	25,078
Carrying amount of buildings and improvements	173,206
Carrying amount of land and buildings and improvements, Total	198,284
Accumulated Depreciation	$ (75,937)
Date of Construction/ Acquisition	1996-2015
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Dallas/Fort Worth [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	135
Land	$ 250,306
Building and Improvements	1,010,176
Costs capitalized subsequent to acquisition	298,476
Carrying amount of land	252,403
Carrying amount of buildings and improvements	1,306,555
Carrying amount of land and buildings and improvements, Total	1,558,958
Accumulated Depreciation	$ (324,685)
Date of Construction/ Acquisition	1994-2019
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Denver [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	35
Land	$ 92,128
Building and Improvements	295,412
Costs capitalized subsequent to acquisition	103,038
Carrying amount of land	90,534
Carrying amount of buildings and improvements	400,044
Carrying amount of land and buildings and improvements, Total	490,578
Accumulated Depreciation	$ (106,338)
Date of Construction/ Acquisition	1993-2019
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Houston [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	105
Land	$ 171,533
Building and Improvements	713,667
Costs capitalized subsequent to acquisition	140,145
Carrying amount of land	171,601
Carrying amount of buildings and improvements	853,744
Carrying amount of land and buildings and improvements, Total	1,025,345
Accumulated Depreciation	$ (164,396)
Date of Construction/ Acquisition	1993-2018
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Indianapolis [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	19
Land	$ 15,970
Building and Improvements	85,015
Costs capitalized subsequent to acquisition	42,463
Carrying amount of land	15,970
Carrying amount of buildings and improvements	127,478
Carrying amount of land and buildings and improvements, Total	143,448
Accumulated Depreciation	$ (47,598)
Date of Construction/ Acquisition	1995-2018
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Jacksonville [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 0
Building and Improvements	2,892
Costs capitalized subsequent to acquisition	273
Carrying amount of land	0
Carrying amount of buildings and improvements	3,165
Carrying amount of land and buildings and improvements, Total	3,165
Accumulated Depreciation	$ (2,221)
Date of Construction/ Acquisition	2011
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Kansas City [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 0
Building and Improvements	14,411
Costs capitalized subsequent to acquisition	202
Carrying amount of land	0
Carrying amount of buildings and improvements	14,613
Carrying amount of land and buildings and improvements, Total	14,613
Accumulated Depreciation	$ (8,891)
Date of Construction/ Acquisition	2011
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Las Vegas [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	50
Land	$ 114,573
Building and Improvements	261,616
Costs capitalized subsequent to acquisition	156,548
Carrying amount of land	109,231
Carrying amount of buildings and improvements	423,506
Carrying amount of land and buildings and improvements, Total	532,737
Accumulated Depreciation	$ (76,356)
Date of Construction/ Acquisition	1996-2018
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Louisville [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	11
Land	$ 42,979
Building and Improvements	226,263
Costs capitalized subsequent to acquisition	45,185
Carrying amount of land	43,285
Carrying amount of buildings and improvements	271,142
Carrying amount of land and buildings and improvements, Total	314,427
Accumulated Depreciation	$ (64,026)
Date of Construction/ Acquisition	2005-2015
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Nashville [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	22
Land	$ 61,699
Building and Improvements	268,238
Costs capitalized subsequent to acquisition	44,912
Carrying amount of land	63,288
Carrying amount of buildings and improvements	311,561
Carrying amount of land and buildings and improvements, Total	374,849
Accumulated Depreciation	$ (45,442)
Date of Construction/ Acquisition	1995-2019
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | New Jersey/New York City [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	106
Land	$ 864,493
Building and Improvements	1,514,057
Costs capitalized subsequent to acquisition	476,276
Carrying amount of land	862,577
Carrying amount of buildings and improvements	1,992,249
Carrying amount of land and buildings and improvements, Total	2,854,826
Accumulated Depreciation	$ (494,401)
Date of Construction/ Acquisition	1996-2019
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Orlando [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	48
Land	$ 82,256
Building and Improvements	320,781
Costs capitalized subsequent to acquisition	65,185
Carrying amount of land	82,683
Carrying amount of buildings and improvements	385,539
Carrying amount of land and buildings and improvements, Total	468,222
Accumulated Depreciation	$ (75,025)
Date of Construction/ Acquisition	1994-2018
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Phoenix [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	29
Land	$ 48,572
Building and Improvements	176,656
Costs capitalized subsequent to acquisition	50,042
Carrying amount of land	48,563
Carrying amount of buildings and improvements	226,707
Carrying amount of land and buildings and improvements, Total	275,270
Accumulated Depreciation	$ (53,561)
Date of Construction/ Acquisition	1992-2018
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Portland [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	17
Land	$ 37,921
Building and Improvements	104,290
Costs capitalized subsequent to acquisition	19,199
Carrying amount of land	36,583
Carrying amount of buildings and improvements	124,827
Carrying amount of land and buildings and improvements, Total	161,410
Accumulated Depreciation	$ (29,923)
Date of Construction/ Acquisition	2006-2019
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Reno [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	17
Land	$ 23,919
Building and Improvements	143,324
Costs capitalized subsequent to acquisition	88,307
Carrying amount of land	25,393
Carrying amount of buildings and improvements	230,157
Carrying amount of land and buildings and improvements, Total	255,550
Accumulated Depreciation	$ (68,685)
Date of Construction/ Acquisition	1994-2015
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | San Antonio [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	20
Land	$ 25,735
Building and Improvements	95,828
Costs capitalized subsequent to acquisition	40,425
Carrying amount of land	25,958
Carrying amount of buildings and improvements	136,030
Carrying amount of land and buildings and improvements, Total	161,988
Accumulated Depreciation	$ (51,898)
Date of Construction/ Acquisition	1994-2016
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | San Francisco Bay Area [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	211
Land	$ 816,163
Building and Improvements	1,523,357
Costs capitalized subsequent to acquisition	321,069
Carrying amount of land	821,459
Carrying amount of buildings and improvements	1,839,130
Carrying amount of land and buildings and improvements, Total	2,660,589
Accumulated Depreciation	$ (589,850)
Date of Construction/ Acquisition	1993-2019
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Seattle [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	87
Land	$ 592,228
Building and Improvements	977,905
Costs capitalized subsequent to acquisition	287,168
Carrying amount of land	612,918
Carrying amount of buildings and improvements	1,244,383
Carrying amount of land and buildings and improvements, Total	1,857,301
Accumulated Depreciation	$ (178,380)
Date of Construction/ Acquisition	2008-2019
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | South Florida [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	99
Land	$ 369,762
Building and Improvements	746,107
Costs capitalized subsequent to acquisition	198,663
Carrying amount of land	375,397
Carrying amount of buildings and improvements	939,135
Carrying amount of land and buildings and improvements, Total	1,314,532
Accumulated Depreciation	$ (206,516)
Date of Construction/ Acquisition	1994-2019
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Southern California [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	309
Land	$ 2,545,605
Building and Improvements	3,857,820
Costs capitalized subsequent to acquisition	921,231
Carrying amount of land	2,626,752
Carrying amount of buildings and improvements	4,697,904
Carrying amount of land and buildings and improvements, Total	7,324,656
Accumulated Depreciation	$ (1,144,891)
Date of Construction/ Acquisition	2005-2019
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Baltimore/Washington [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	52
Land	$ 140,823
Building and Improvements	384,274
Costs capitalized subsequent to acquisition	149,324
Carrying amount of land	141,824
Carrying amount of buildings and improvements	532,597
Carrying amount of land and buildings and improvements, Total	674,421
Accumulated Depreciation	$ (98,377)
Date of Construction/ Acquisition	1995-2019
Operating Properties [Member] | Other Americas Markets [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	42
Land	$ 321,250
Building and Improvements	383,300
Costs capitalized subsequent to acquisition	389,270
Carrying amount of land	351,717
Carrying amount of buildings and improvements	742,103
Carrying amount of land and buildings and improvements, Total	1,093,820
Accumulated Depreciation	$ (113,100)
Operating Properties [Member] | Other Americas Markets [Member] | Canada [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	32
Land	$ 220,424
Building and Improvements	381,013
Costs capitalized subsequent to acquisition	264,917
Carrying amount of land	246,296
Carrying amount of buildings and improvements	620,058
Carrying amount of land and buildings and improvements, Total	866,354
Accumulated Depreciation	$ (109,179)
Date of Construction/ Acquisition	2008-2019
Operating Properties [Member] | Other Americas Markets [Member] | Mexico [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	10
Land	$ 100,826
Building and Improvements	2,287
Costs capitalized subsequent to acquisition	124,353
Carrying amount of land	105,421
Carrying amount of buildings and improvements	122,045
Carrying amount of land and buildings and improvements, Total	227,466
Accumulated Depreciation	$ (3,921)
Date of Construction/ Acquisition	2011-2019
Operating Properties [Member] | Europe Markets
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	14
Land	$ 84,717
Building and Improvements	74,338
Costs capitalized subsequent to acquisition	56,326
Carrying amount of land	83,752
Carrying amount of buildings and improvements	131,629
Carrying amount of land and buildings and improvements, Total	215,381
Accumulated Depreciation	$ (21,556)
Operating Properties [Member] | Europe Markets | France [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	5
Land	$ 9,629
Building and Improvements	4,804
Costs capitalized subsequent to acquisition	41,476
Carrying amount of land	8,360
Carrying amount of buildings and improvements	47,549
Carrying amount of land and buildings and improvements, Total	55,909
Accumulated Depreciation	$ (2,985)
Date of Construction/ Acquisition	2012-2019
Operating Properties [Member] | Europe Markets | Germany [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 10,437
Building and Improvements	5,418
Costs capitalized subsequent to acquisition	601
Carrying amount of land	10,437
Carrying amount of buildings and improvements	6,019
Carrying amount of land and buildings and improvements, Total	16,456
Accumulated Depreciation	$ (3,689)
Date of Construction/ Acquisition	2011
Operating Properties [Member] | Europe Markets | United Kingdom [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 58,255
Building and Improvements	27,775
Costs capitalized subsequent to acquisition	1,969
Carrying amount of land	58,259
Carrying amount of buildings and improvements	29,740
Carrying amount of land and buildings and improvements, Total	87,999
Accumulated Depreciation	$ (1,679)
Date of Construction/ Acquisition	2018-2019
Operating Properties [Member] | Europe Markets | Spain [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	5
Land	$ 6,396
Building and Improvements	36,341
Costs capitalized subsequent to acquisition	12,280
Carrying amount of land	6,696
Carrying amount of buildings and improvements	48,321
Carrying amount of land and buildings and improvements, Total	55,017
Accumulated Depreciation	$ (13,203)
Date of Construction/ Acquisition	2011-2017
Operating Properties [Member] | Asia Markets [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	9
Land	$ 35,243
Building and Improvements	145,462
Costs capitalized subsequent to acquisition	149,688
Carrying amount of land	37,585
Carrying amount of buildings and improvements	292,808
Carrying amount of land and buildings and improvements, Total	330,393
Accumulated Depreciation	$ (67,074)
Operating Properties [Member] | Asia Markets [Member] | China [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 1,372
Building and Improvements	8,320
Costs capitalized subsequent to acquisition	109
Carrying amount of land	1,148
Carrying amount of buildings and improvements	8,653
Carrying amount of land and buildings and improvements, Total	9,801
Accumulated Depreciation	$ (2,376)
Date of Construction/ Acquisition	2011
Operating Properties [Member] | Asia Markets [Member] | Japan [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 33,871
Building and Improvements	0
Costs capitalized subsequent to acquisition	145,682
Carrying amount of land	36,437
Carrying amount of buildings and improvements	143,116
Carrying amount of land and buildings and improvements, Total	179,553
Accumulated Depreciation	$ (10,094)
Date of Construction/ Acquisition	2016-2019
Operating Properties [Member] | Asia Markets [Member] | Singapore [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	5
Land	$ 0
Building and Improvements	137,142
Costs capitalized subsequent to acquisition	3,897
Carrying amount of land	0
Carrying amount of buildings and improvements	141,039
Carrying amount of land and buildings and improvements, Total	141,039
Accumulated Depreciation	$ (54,604)
Date of Construction/ Acquisition	2011

Real Estate and Accumulated D_3

Real Estate and Accumulated Depreciation (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Total operating properties and development portfolio per Schedule III	$ 32,774,956	$ 24,178,816	$ 25,375,539	$ 33,157,100	$ 32,774,956
Land				1,101,646
Other real estate investments				965,668
Total per Consolidated Balance Sheets				35,224,414	34,586,987
Aggregate cost for Federal tax purposes				23,500,000
Total accumulated depreciation per Schedule III	4,550,958	3,971,501	3,679,479	5,294,212	4,550,958
Accumulated depreciation on other real estate investments	143,450
Total per Consolidated Balance Sheets				5,437,662	$ 4,656,680
Mortgage notes, aggregate cost of secured properties				1,700,000
Mortgage notes	557,000
Assessment bonds				$ 10,900
Assessment bonds, aggregate undepreciated cost	601,900
Real estate assets:
Balance at beginning of year	32,774,956	24,178,816	25,375,539
Acquisitions of and improvements to operating properties, development activity and net effect of changes in foreign exchange rates and other	2,821,919	10,106,651	2,680,484
Basis of operating properties disposed of	(1,471,764)	(1,461,458)	(3,697,798)
Change in the development portfolio balance, including the acquisition of properties	(273,534)	549,312	161,408
Assets transferred to held for sale and contribution	(694,477)	(598,365)	(340,817)
Balance at end year	33,157,100	32,774,956	24,178,816
Accumulated depreciation:
Balance at beginning of year	4,550,958	3,971,501	3,679,479
Depreciation expense	843,872	703,215	614,756
Balances retired upon disposition of operating properties and net effect of changes in foreign exchange rates and other	(77,583)	(119,029)	(313,584)
Assets transferred to held for sale and contribution	(23,035)	(4,729)	(9,150)
Balance at end of year	$ 5,294,212	$ 4,550,958	$ 3,971,501
Standard Tenant Improvements [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	10 years
Properties Developed [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	40 years
Minimum [Member] | Capital Improvements [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	5 years
Minimum [Member] | Land improvements on developed buildings [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	15 years
Minimum [Member] | Acquired Industrial Properties [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	25 years
Maximum [Member] | Capital Improvements [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	7 years
Maximum [Member] | Land improvements on developed buildings [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	25 years
Maximum [Member] | Acquired Industrial Properties [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	35 years