Prologis (PLD) 10-Q 1 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	Apr. 27, 2020
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Registrant Name	Prologis, Inc.
Entity Central Index Key	0001045609
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		738,582,000
Entity Shell Company	false
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 Quarterly Report	true
Document Transition Report	false
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
Prologis LP [Member]
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Registrant Name	Prologis, L.P.
Entity Central Index Key	0001045610
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Shell Company	false
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 Quarterly Report	true
Document Transition Report	false
Prologis LP [Member] | 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
Prologis LP [Member] | 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
Prologis LP [Member] | 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
Prologis LP [Member] | 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

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Investments in real estate properties	$ 48,112,299	$ 35,224,414
Less accumulated depreciation	5,662,351	5,437,662
Net investments in real estate properties	42,449,948	29,786,752
Investments in and advances to unconsolidated entities	6,834,758	6,237,371
Assets held for sale or contribution	1,975,524	720,685
Net investments in real estate	51,260,230	36,744,808
Lease right-of-use assets	510,191	486,330
Cash and cash equivalents	807,871	1,088,855
Other assets	2,428,955	1,711,857
Total assets	55,007,247	40,031,850
Liabilities:
Debt	15,676,592	11,905,877
Lease liabilities	498,112	471,634
Accounts payable and accrued expenses	888,341	704,954
Other liabilities	1,168,332	877,601
Total liabilities	18,231,377	13,960,066
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 March 31, 2020 and December 31, 2019	68,948	68,948
Common stock; $0.01 par value; 738,563 shares and 631,797 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively	7,386	6,318
Additional paid-in capital	35,416,341	25,719,427
Accumulated other comprehensive loss	(1,142,352)	(990,398)
Distributions in excess of net earnings	(2,090,881)	(2,151,168)
Total Prologis, Inc. stockholders’ equity	32,259,442	22,653,127
Partners' capital:
Noncontrolling interests	4,516,428	3,418,657
Total equity	36,775,870	26,071,784
Total liabilities and equity	55,007,247	40,031,850
Prologis, L.P. [Member]
ASSETS
Investments in real estate properties	48,112,299	35,224,414
Less accumulated depreciation	5,662,351	5,437,662
Net investments in real estate properties	42,449,948	29,786,752
Investments in and advances to unconsolidated entities	6,834,758	6,237,371
Assets held for sale or contribution	1,975,524	720,685
Net investments in real estate	51,260,230	36,744,808
Lease right-of-use assets	510,191	486,330
Cash and cash equivalents	807,871	1,088,855
Other assets	2,428,955	1,711,857
Total assets	55,007,247	40,031,850
Liabilities:
Debt	15,676,592	11,905,877
Lease liabilities	498,112	471,634
Accounts payable and accrued expenses	888,341	704,954
Other liabilities	1,168,332	877,601
Total liabilities	18,231,377	13,960,066
Partners' capital:
Total partners' capital	33,183,884	23,296,390
Noncontrolling interests	3,591,986	2,775,394
Total capital	36,775,870	26,071,784
Total liabilities and equity	55,007,247	40,031,850
Prologis, L.P. [Member] | Preferred [Member]
Partners' capital:
General partner	68,948	68,948
Prologis, L.P. [Member] | Common [Member]
Partners' capital:
General partner	32,190,494	22,584,179
Limited partners	573,481	355,076
Prologis, L.P. [Member] | Class A Common [Member]
Partners' capital:
Limited partners	$ 350,961	$ 288,187

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
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	738,563,000	631,797,000
Common stock, shares outstanding	738,563,000	631,797,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenues:
Rental	$ 878,807	$ 696,807
Strategic capital	96,591	73,805
Development management and other	2,843	1,440
Total revenues	978,241	772,052
Expenses:
Rental	227,618	188,068
Strategic capital	46,574	38,058
General and administrative	69,689	69,701
Depreciation and amortization	345,970	284,009
Other	14,574	3,834
Total expenses	704,425	583,670
Operating income before gains on real estate transactions, net	273,816	188,382
Gains on dispositions of development properties and land, net	162,750	42,441
Gains on other dispositions of investments in real estate, net	31,491	145,767
Operating income	468,057	376,590
Other income (expense):
Earnings from unconsolidated entities, net	88,730	56,666
Interest expense	(75,642)	(60,507)
Interest and other income, net	370	7,910
Foreign currency and derivative gains, net	113,329	8,734
Losses on early extinguishment of debt, net	(42,767)	(2,116)
Total other income	84,020	10,687
Earnings before income taxes	552,077	387,277
Total income tax expense	30,913	13,512
Consolidated net earnings	521,164	373,765
Less net earnings attributable to noncontrolling interests	30,111	25,219
Net earnings attributable to controlling interests	491,053	348,546
Less preferred stock/unit dividends/distributions	1,635	1,499
Net earnings attributable to common stockholders/unitholders	$ 489,418	$ 347,047
Weighted average common shares/units outstanding - Basic	698,272	629,676
Weighted average common shares/units outstanding - Diluted	723,983	654,359
Net earnings per share/unit attributable to common stockholders/unitholders - Basic	$ 0.70	$ 0.55
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted	$ 0.70	$ 0.55
Prologis, L.P. [Member]
Revenues:
Rental	$ 878,807	$ 696,807
Strategic capital	96,591	73,805
Development management and other	2,843	1,440
Total revenues	978,241	772,052
Expenses:
Rental	227,618	188,068
Strategic capital	46,574	38,058
General and administrative	69,689	69,701
Depreciation and amortization	345,970	284,009
Other	14,574	3,834
Total expenses	704,425	583,670
Operating income before gains on real estate transactions, net	273,816	188,382
Gains on dispositions of development properties and land, net	162,750	42,441
Gains on other dispositions of investments in real estate, net	31,491	145,767
Operating income	468,057	376,590
Other income (expense):
Earnings from unconsolidated entities, net	88,730	56,666
Interest expense	(75,642)	(60,507)
Interest and other income, net	370	7,910
Foreign currency and derivative gains, net	113,329	8,734
Losses on early extinguishment of debt, net	(42,767)	(2,116)
Total other income	84,020	10,687
Earnings before income taxes	552,077	387,277
Total income tax expense	30,913	13,512
Consolidated net earnings	521,164	373,765
Less net earnings attributable to noncontrolling interests	16,141	14,645
Net earnings attributable to controlling interests	505,023	359,120
Less preferred stock/unit dividends/distributions	1,635	1,499
Net earnings attributable to common stockholders/unitholders	$ 503,388	$ 357,621
Weighted average common shares/units outstanding - Basic	710,141	640,504
Weighted average common shares/units outstanding - Diluted	723,983	654,359
Net earnings per share/unit attributable to common stockholders/unitholders - Basic	$ 0.70	$ 0.55
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted	$ 0.70	$ 0.55

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Consolidated net earnings	$ 521,164	$ 373,765
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	(133,533)	60,080
Unrealized losses on derivative contracts, net	(23,448)	(2,633)
Comprehensive income	364,183	431,212
Net earnings attributable to noncontrolling interests	(30,111)	(25,219)
Other comprehensive loss (income) attributable to noncontrolling interests	5,027	(1,982)
Comprehensive income attributable to common stockholders/unitholders	339,099	404,011
Prologis, L.P. [Member]
Consolidated net earnings	521,164	373,765
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	(133,533)	60,080
Unrealized losses on derivative contracts, net	(23,448)	(2,633)
Comprehensive income	364,183	431,212
Net earnings attributable to noncontrolling interests	(16,141)	(14,645)
Other comprehensive loss (income) attributable to noncontrolling interests	663	(263)
Comprehensive income attributable to common stockholders/unitholders	$ 348,705	$ 416,304

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, 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
Consolidated net earnings	373,765					348,546	25,219
Effect of equity compensation plans	22,029		$ 7	(1,198)			23,220
Effect of equity compensation plans, shares			764
Capital contributions	6,538						6,538
Redemption of noncontrolling interests	(40,223)		$ 4	2,980			(43,207)
Redemption of noncontrolling interests, shares			363
Contribution to Brazil venture	(12,630)						(12,630)
Foreign currency translation gains (losses), net	60,080				58,019		2,061
Unrealized losses on derivative contracts, net	(2,633)				(2,554)		(79)
Reallocation of equity				(33,304)			33,304
Dividends ($0.58 per common share for three months ended March 31, 2020 and $0.53 for three months ended March 31, 2019) and other distributions	(383,753)			(16)		(336,094)	(47,643)
Balance at Mar. 31, 2019	25,824,061	68,948	$ 6,307	25,654,449	(1,029,206)	(2,366,015)	3,489,578
Balance, shares at Mar. 31, 2019			630,743
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 net earnings	$ 521,164					491,053	30,111
Effect of equity compensation plans	23,323		$ 5	(3,121)			26,439
Effect of equity compensation plans, shares			518
Liberty Transaction, net of issuance costs	10,014,046		$ 1,067	9,801,412			211,567
Liberty Transaction, net of issuance costs, shares			106,723
Repurchases of common shares	(34,829)		$ (5)	(34,824)
Repurchase of Common shares, shares			(539)
Capital contributions	916,974						916,974
Redemption of noncontrolling interests	(16,811)		$ 1	2,783			(19,595)
Redemption of noncontrolling interests, shares			64
Foreign currency translation gains (losses), net	(133,533)				(129,161)		(4,372)
Unrealized losses on derivative contracts, net	(23,448)				(22,793)		(655)
Reallocation of equity				(69,327)			69,327
Dividends ($0.58 per common share for three months ended March 31, 2020 and $0.53 for three months ended March 31, 2019) and other distributions	(562,800)			(9)		(430,766)	(132,025)
Balance at Mar. 31, 2020	$ 36,775,870	$ 68,948	$ 7,386	$ 35,416,341	$ (1,142,352)	$ (2,090,881)	$ 4,516,428
Balance, shares at Mar. 31, 2020	738,563		738,563

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Of Stockholders Equity [Abstract]
Dividends per common share	$ 0.58	$ 0.53

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Operating activities:
Consolidated net earnings	$ 521,164	$ 373,765
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(23,738)	(27,912)
Equity-based compensation awards	31,808	31,758
Depreciation and amortization	345,970	284,009
Earnings from unconsolidated entities, net	(88,730)	(56,666)
Operating distributions from unconsolidated entities	106,732	96,401
Decrease in operating receivables from unconsolidated entities	60,739	49,488
Amortization of debt discounts and debt issuance costs, net	1,175	4,162
Gains on dispositions of development properties and land, net	(162,750)	(42,441)
Gains on other dispositions of investments in real estate, net	(31,491)	(145,767)
Unrealized foreign currency and derivative gains, net	(109,726)	(7,158)
Losses on early extinguishment of debt, net	42,767	2,116
Deferred income tax expense	2,993	793
Decrease (increase) in accounts receivable, lease right-of-use assets and other assets	105,648	(13,470)
Decrease in accounts payable and accrued expenses, lease liabilities and other liabilities	(123,468)	(54,164)
Net cash provided by operating activities	679,093	494,914
Investing activities:
Real estate development	(443,044)	(368,596)
Real estate acquisitions	(439,059)	(274,528)
Tenant improvements and lease commissions on previously leased space	(39,396)	(40,338)
Property improvements	(13,639)	(13,612)
Proceeds from dispositions and contributions of real estate properties	723,887	595,496
Investments in and advances to unconsolidated entities	(251,673)	(75,559)
Return of investment from unconsolidated entities	139,900	355,539
Proceeds from repayment of notes receivable backed by real estate	4,312	0
Proceeds from the settlement of net investment hedges	2,352	9,761
Payments on the settlement of net investment hedges	(5,599)	(28,524)
Net cash provided by (used in) investing activities	(2,009,173)	159,639
Financing activities:
Proceeds from issuance of common stock/units	850	2,482
Repurchase and retirement of common stock	(34,829)	0
Dividends/distributions paid on common and preferred stock/units	(430,766)	(336,094)
Noncontrolling interests contributions	916,974	6,538
Noncontrolling interests distributions	(132,025)	(47,643)
Settlement of noncontrolling interests	(16,811)	(40,223)
Tax paid for shares withheld	(22,736)	(21,094)
Debt and equity issuance costs paid	(31,118)	(14,692)
Net payments on credit facilities	(125,166)	(24,565)
Repurchase of and payments on debt	(4,065,075)	(1,418,438)
Proceeds from the issuance of debt	4,991,113	1,145,095
Net cash provided by (used in) financing activities	1,050,411	(748,634)
Effect of foreign currency exchange rate changes on cash	(1,315)	1,255
Net decrease in cash and cash equivalents	(280,984)	(92,826)
Cash and cash equivalents, beginning of period	1,088,855	343,856
Cash and cash equivalents, end of period	807,871	251,030
Prologis, L.P. [Member]
Operating activities:
Consolidated net earnings	521,164	373,765
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(23,738)	(27,912)
Equity-based compensation awards	31,808	31,758
Depreciation and amortization	345,970	284,009
Earnings from unconsolidated entities, net	(88,730)	(56,666)
Operating distributions from unconsolidated entities	106,732	96,401
Decrease in operating receivables from unconsolidated entities	60,739	49,488
Amortization of debt discounts and debt issuance costs, net	1,175	4,162
Gains on dispositions of development properties and land, net	(162,750)	(42,441)
Gains on other dispositions of investments in real estate, net	(31,491)	(145,767)
Unrealized foreign currency and derivative gains, net	(109,726)	(7,158)
Losses on early extinguishment of debt, net	42,767	2,116
Deferred income tax expense	2,993	793
Decrease (increase) in accounts receivable, lease right-of-use assets and other assets	105,648	(13,470)
Decrease in accounts payable and accrued expenses, lease liabilities and other liabilities	(123,468)	(54,164)
Net cash provided by operating activities	679,093	494,914
Investing activities:
Real estate development	(443,044)	(368,596)
Real estate acquisitions	(439,059)	(274,528)
Tenant improvements and lease commissions on previously leased space	(39,396)	(40,338)
Property improvements	(13,639)	(13,612)
Proceeds from dispositions and contributions of real estate properties	723,887	595,496
Investments in and advances to unconsolidated entities	(251,673)	(75,559)
Return of investment from unconsolidated entities	139,900	355,539
Proceeds from repayment of notes receivable backed by real estate	4,312	0
Proceeds from the settlement of net investment hedges	2,352	9,761
Payments on the settlement of net investment hedges	(5,599)	(28,524)
Net cash provided by (used in) investing activities	(2,009,173)	159,639
Financing activities:
Proceeds from issuance of common stock/units	850	2,482
Repurchase and retirement of common stock	(34,829)	0
Dividends/distributions paid on common and preferred stock/units	(445,554)	(349,231)
Noncontrolling interests contributions	916,974	6,538
Noncontrolling interests distributions	(117,237)	(34,506)
Settlement of noncontrolling interests	0	(21,093)
Redemption of common limited partnership units	(16,811)	(19,130)
Tax paid for shares of the Parent withheld	(22,736)	(21,094)
Debt and equity issuance costs paid	(31,118)	(14,692)
Net payments on credit facilities	(125,166)	(24,565)
Repurchase of and payments on debt	(4,065,075)	(1,418,438)
Proceeds from the issuance of debt	4,991,113	1,145,095
Net cash provided by (used in) financing activities	1,050,411	(748,634)
Effect of foreign currency exchange rate changes on cash	(1,315)	1,255
Net decrease in cash and cash equivalents	(280,984)	(92,826)
Cash and cash equivalents, beginning of period	1,088,855	343,856
Cash and cash equivalents, end of period	807,871	251,030
Liberty Transaction [Member]
Investing activities:
Transaction, net of cash acquired	(22,659)	0
Liberty Transaction [Member] | Prologis, L.P. [Member]
Investing activities:
Transaction, net of cash acquired	(22,659)	0
IPT Transaction [Member]
Investing activities:
Transaction, net of cash acquired	(1,664,555)	0
IPT Transaction [Member] | Prologis, L.P. [Member]
Investing activities:
Transaction, net of cash acquired	$ (1,664,555)	$ 0

Consolidated Statements of Capi

Consolidated Statements of Capital - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Consolidated net earnings	$ 521,164	$ 373,765
Effect of equity compensation plans	23,323	22,029
Capital contributions	916,974	6,538
Redemption of noncontrolling interests	(16,811)	(40,223)
Contribution to Brazil venture		(12,630)
Unrealized losses on derivative contracts, net	(23,448)	(2,633)
Noncontrolling Interests [Member]
Consolidated net earnings	30,111	25,219
Effect of equity compensation plans	26,439	23,220
Capital contributions	916,974	6,538
Redemption of noncontrolling interests	(19,595)	(43,207)
Contribution to Brazil venture		(12,630)
Unrealized losses on derivative contracts, net	$ (655)	(79)
Class A Common [Member]
Beginning balance, units	8,600
Ending balance, units	8,600
Prologis, L.P. [Member]
Beginning balance	$ 26,071,784	25,800,888
Consolidated net earnings	521,164	373,765
Effect of equity compensation plans	23,323	22,029
Liberty Transaction, net of issuance costs	10,014,046
Repurchases of common units	(34,829)
Capital contributions	916,974	6,538
Redemption of noncontrolling interests		(21,093)
Redemption of limited partners units	(16,811)	(19,130)
Contribution to Brazil venture		(12,630)
Foreign currency translation gains (losses), net	(133,533)	60,080
Unrealized losses on derivative contracts, net	(23,448)	(2,633)
Distributions ($0.58 per common unit for three months ended March 31, 2020 and $0.53 for three months ended March 31, 2019) and other	(562,800)	(383,753)
Ending balance	36,775,870	25,824,061
Prologis, L.P. [Member] | Noncontrolling Interests [Member]
Beginning balance	2,775,394	2,836,469
Consolidated net earnings	16,141	14,645
Liberty Transaction, net of issuance costs	1,377
Capital contributions	916,974	6,538
Redemption of noncontrolling interests		(11,258)
Contribution to Brazil venture		(12,630)
Foreign currency translation gains (losses), net	(663)	263
Distributions ($0.58 per common unit for three months ended March 31, 2020 and $0.53 for three months ended March 31, 2019) and other	(117,237)	(34,506)
Ending balance	3,591,986	2,799,521
Prologis, L.P. [Member] | Preferred [Member] | General Partner
Beginning balance	$ 68,948	$ 68,948
Beginning balance, units	1,379	1,379
Ending balance	$ 68,948	$ 68,948
Ending balance, units	1,379	1,379
Prologis, L.P. [Member] | Common [Member] | General Partner
Beginning balance	$ 22,584,179	$ 22,229,145
Beginning balance, units	631,797	629,616
Consolidated net earnings	$ 491,053	$ 348,546
Effect of equity compensation plans	$ (3,116)	$ (1,191)
Effect of equity compensation plans, units	518	764
Liberty Transaction, net of issuance costs	$ 9,802,479
Liberty Transaction, net of issuance costs, units	106,723
Repurchases of common units	$ (34,829)
Repurchases of common units, units	(539)
Redemption of noncontrolling interests		$ (9,835)
Redemption of limited partners units	$ 2,784	$ 12,819
Redemption of limited partners units, units	64	363
Foreign currency translation gains (losses), net	$ (129,161)	$ 58,019
Unrealized losses on derivative contracts, net	(22,793)	(2,554)
Reallocation of capital	(69,327)	(33,304)
Distributions ($0.58 per common unit for three months ended March 31, 2020 and $0.53 for three months ended March 31, 2019) and other	(430,775)	(336,110)
Ending balance	$ 32,190,494	$ 22,265,535
Ending balance, units	738,563	630,743
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Beginning balance	$ 355,076	$ 371,281
Beginning balance, units	9,933	10,516
Consolidated net earnings	$ 8,319	$ 5,968
Effect of equity compensation plans	$ 26,439	$ 23,220
Effect of equity compensation plans, units	1,191	1,355
Liberty Transaction, net of issuance costs	$ 210,190
Liberty Transaction, net of issuance costs, shares	2,288
Redemption of limited partners units	$ (19,595)	$ (31,949)
Redemption of limited partners units, units	(254)	(661)
Foreign currency translation gains (losses), net	$ (2,301)	$ 1,031
Unrealized losses on derivative contracts, net	(406)	(45)
Reallocation of capital	4,977	33,634
Distributions ($0.58 per common unit for three months ended March 31, 2020 and $0.53 for three months ended March 31, 2019) and other	(9,218)	(7,414)
Ending balance	$ 573,481	$ 395,726
Ending balance, units	13,158	11,210
Prologis, L.P. [Member] | Class A Common [Member] | Limited Partners [Member]
Beginning balance	$ 288,187	$ 295,045
Beginning balance, units	8,613	8,849
Consolidated net earnings	$ 5,651	$ 4,606
Foreign currency translation gains (losses), net	(1,408)	767
Unrealized losses on derivative contracts, net	(249)	(34)
Reallocation of capital	64,350	(330)
Distributions ($0.58 per common unit for three months ended March 31, 2020 and $0.53 for three months ended March 31, 2019) and other	(5,570)	(5,723)
Ending balance	$ 350,961	$ 294,331
Ending balance, units	8,613	8,849

Consolidated Statements of Ca_2

Consolidated Statements of Capital (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement Of Partners Capital [Abstract]
Distributions per common unit	$ 0.58	$ 0.53

General

General	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
General	NOTE 1. GENERAL Business . Prologis, Inc. (or the “Parent”) commenced operations as a fully integrated real estate company in 1997, elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), and believes the current organization and method of operation will enable it to maintain its status as a REIT. The Parent is the general partner of Prologis, L.P. (or the “Operating Partnership” 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 12 for further discussion of our business segments. Unless otherwise indicated, the Notes to the Consolidated Financial Statements apply to both the Parent and the 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 March 31, 2020, the Parent owned a 97.21% common general partnership interest in the OP and 100% of the preferred units in the OP. The remaining 2.79% 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. Basis of Presentation. The accompanying Consolidated Financial Statements are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) and are presented in our reporting currency, the U.S. dollar. All material intercompany transactions with consolidated entities have been eliminated. The accompanying unaudited interim financial information has been prepared according to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in our annual financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations. Our management believes that the disclosures presented in these financial statements are adequate to make the information presented not misleading. In our opinion, all adjustments and eliminations, consisting only of normal recurring adjustments, necessary to present fairly the financial position and results of operations for both the Parent and the OP for the reported periods have been included. The results of operations for such interim periods are not necessarily indicative of the results for the full year. The accompanying unaudited interim financial information should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the SEC, and other public information. New Accounting Pronouncements. Accounting for Lease Concessions Related to the Effects of the Coronavirus (“COVID-19”) Pandemic . In April 2020, the Financial Accounting Standards Board (“FASB”) issued a Staff Question-and-Answer (“Q&A”) to clarify whether lease concessions related to the effects of COVID-19 require the application of the lease modification guidance under the new lease standard, which we adopted on January 1, 2019. For rent deferrals granted as of April 27 th Reference Rate Reform . In March 2020, the FASB issued an Accounting Standard Update (“ASU”) that provided practical expedients to address existing guidance on contract modifications and hedge accounting due to the expected market transition from the London Inter - bank Offered Rate (“LIBOR”) and other interbank offered rates (together “IBORs”) to alternative reference rates, such as the Secured Overnight Financing Rate . In July 2017, the Financial Conduct Authority announced it intended to stop compelling banks to submit rates for the calculation of LIBOR after 2021. We refer to this transition as “reference rate reform.” The first practical expedient allows companies to elect to not apply certain modification accounting requirements to debt, derivative and lease contracts affected by reference rate reform if certain criteria are met. These criteria include the following: (i) the contract referenced an IBOR rate that is expected to be discontinued; (ii) the modified terms directly replace or have the potential to replace the IBOR rate that is expected to be discontinued; and (iii) any contemporaneous changes to other terms that change or have the potential to change the amount and timing of contractual cash flows must be related to the replacement of the IBOR rate. If the contract meets all three criteria, there is no requirement for remeasurement of the contract at the modification date or reassessment of the previous accounting determination. The second practical expedient allows companies to change the reference rate and other critical terms related to the reference rate reform in derivative hedge documentation without having to de-designate the hedging relationship. This allows for companies to continue applying hedge accounting to existing cash flow and net investment hedges. The ASU was effective upon issuance on a prospective basis beginning January 1, 2020 and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, we elected to apply the hedge accounting practical expedient to our net investment hedges and cash flow hedges. We will continue to evaluate our debt, derivative and lease contracts that are eligible for modification relief and may apply those elections as needed.

Liberty Transaction

Liberty Transaction	3 Months Ended
	Mar. 31, 2020
Business Combinations [Abstract]
Liberty Transaction	NOTE 2. LIBERTY TRANSACTION On February 4, 2020, we acquired Liberty Property Trust and Liberty Property Limited Partnership (collectively “Liberty” or the “Liberty Transaction”). The Liberty Transaction was completed for $13.0 billion through the issuance of equity based on the value of the Prologis common stock and units issued of $10.0 billion and the assumption of debt of $2.8 billion, and includes transaction costs. In connection with the transaction, each issued and outstanding share or unit held by a Liberty stockholder or unitholder was converted automatically into 0.675 shares of Prologis common stock or common units of Prologis, L.P., respectively, including shares and units under Liberty’s equity incentive plan that became fully vested at closing. Through the Liberty Transaction, we acquired a portfolio primarily comprised of logistics real estate assets, including 519 industrial operating properties, aggregating 99.6 million square feet, which are highly complementary to our U.S. portfolio in terms of product quality, location and growth potential in our key markets here was approximately 34 million square feet of non-strategic industrial properties acquired in the Liberty Transaction for which our intent is not to operate these properties long-term. Depending on the expected hold period, these assets are either classified as Assets Held for Sale or Contribution or Other Real Estate Investments in the Consolidated Balance Sheets. In addition, we acquired an ownership interest in eight other ventures that own industrial and office properties. The aggregate equity consideration is calculated below (in millions, except price per share): Number of Prologis shares and units issued upon conversion of Liberty shares and units at February 4, 2020 109.01 Multiplied by closing price of Prologis' common stock on February 3, 2020 $ 91.87 Fair value of Prologis shares and units issued $ 10,015 We accounted for the Liberty Transaction as an asset acquisition and as a result, the transaction costs were capitalized to the basis of the acquired properties. Transaction costs included investment banker advisory fees, legal fees and other costs. Under acquisition accounting, the total purchase price was allocated to the Liberty real estate properties, excluding those held for sale, on a relative fair value basis. Other monetary assets acquired and liabilities assumed, including debt, are recorded at fair value. The purchase price allocation of Liberty resulted primarily in net investments in real estate and related net intangible assets financed by the issuance of Prologis shares and units and the assumption of debt. In connection with the Liberty Transaction and the related Form S-4, on December 19, 2019, Liberty and Liberty’s board of directors (the “Liberty Board”) were sued in a putative class action lawsuit, the McDonough Yonchuk McDonough Yonchuk In both 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

Real Estate	3 Months Ended
	Mar. 31, 2020
Real Estate [Abstract]
Real Estate	NOTE 3. REAL ESTATE Investments in real estate properties consisted of the following (dollars and square feet in thousands): Square Feet Number of Buildings Mar 31, Dec 31, Mar 31, Dec 31, Mar 31, Dec 31, 2020 (1) 2019 2020 (1) 2019 2020 (1) 2019 Operating properties: Buildings and improvements 439,507 354,297 2,260 1,876 $ 30,471,635 $ 23,067,625 Improved land 11,957,756 8,220,208 Development portfolio, including land costs: Prestabilized 6,622 9,133 24 28 510,338 784,584 Properties under development 27,617 26,893 71 77 1,326,456 1,084,683 Land (2) 1,463,982 1,101,646 Other real estate investments (3) 2,382,132 965,668 Total investments in real estate properties 48,112,299 35,224,414 Less accumulated depreciation 5,662,351 5,437,662 Net investments in real estate properties $ 42,449,948 $ 29,786,752 ( 1 ) The portfolio acquired in the Liberty Transaction, excluding properties classified as Assets Held for Sale or Contribution (2) At March 31, 2020 and December 31, 2019, our land is comprised of 5,870 and 4,411 acres, respectively. ( 3 ) Included in other real estate investments were: (i) non-strategic real estate assets acquired in the Liberty Transaction for which our intent is not to operate these properties long-term; (ii) land parcels that are ground leased to third parties; (iii) non-logistics real estate; (iv) our corporate headquarters; (v) costs related to future development projects, including purchase options on land; (vi) earnest money deposits associated with potential acquisitions; and (vii) infrastructure costs related to projects we are developing on behalf of others. Acquisitions The following table summarizes our real estate acquisition activity, excluding the Liberty Transaction as discussed in Note 2 (dollars and square feet in thousands): Three Months Ended March 31, 2020 (1) 2019 Number of operating properties 137 12 Square feet 20,256 967 Acres of land 267 188 Acquisition cost of net investments in real estate (2) $ 2,393,767 $ 312,252 (1) On January 8, 2020, our two U.S. co-investment ventures, Prologis Targeted U.S. Logistics Fund, L.P. (“USLF”) and Prologis U.S. Logistics Venture (“USLV”), acquired the wholly-owned real estate assets of Industrial Property Trust Inc. (“IPT”) for $2.0 billion each in a cash transaction, including transaction costs and the assumption and repayment of debt (the “IPT Transaction”). As USLV is a consolidated co-investment venture, the number of operating properties, square feet and acquisition cost are included in the consolidated acquisition activity. For further discussion on the acquisition by USLF, see Note 4, and for USLV, see Notes 6 and 8. (2) Includes the acquisition cost of properties classified in other real estate investments of $86.8 million for the three months ended March 31, 2020. We did not acquire properties classified in other real estate investments during the three months ended March 31, 2019. Dispositions The following table summarizes our dispositions of net investments in real estate (dollars and square feet in thousands): Three Months Ended March 31, 2020 2019 Dispositions of development properties and land, net Contributions to unconsolidated entities Number of properties 9 5 Square feet 3,524 1,212 Net proceeds $ 554,343 $ 124,322 Gains on contributions, net $ 144,745 $ 30,833 Dispositions to third parties Number of properties 2 2 Square feet 1,112 670 Net proceeds $ 79,220 $ 52,024 Gains on dispositions, net $ 18,005 $ 11,608 Total gains on dispositions of development properties and land, net $ 162,750 $ 42,441 Other dispositions of investments in real estate, net (1) Number of properties 18 14 Square feet 2,305 6,937 Net proceeds $ 160,557 $ 619,843 Gains on contributions and dispositions, net $ 31,491 $ 10,745 Gains on partial redemption of investment in an unconsolidated co-investment venture (2) $ - $ 135,022 Total gains on other dispositions of investments in real estate, net $ 31,491 $ 145,767 ( 1 ) In January 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 20.0% equity interest. ( 2 ) In February 2019, we redeemed a portion of our investment in a European unconsolidated co-investment venture.

Unconsolidated Entities

Unconsolidated Entities	3 Months Ended
	Mar. 31, 2020
Equity Method Investments And Joint Ventures [Abstract]
Unconsolidated Entities	NOTE 4. UNCONSOLIDATED ENTITIES Summary of Investments We have investments in entities through a variety of ventures. We co-invest in entities that own multiple properties with partners and investors and 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 are accounted for using the equity method of accounting. See Note 8 for more detail regarding our consolidated investments that are not wholly owned. We also have investments in other ventures, generally with one partner and that we do not manage, which we account for using the equity method. We refer to our investments in both unconsolidated co-investment ventures and other ventures, collectively, as unconsolidated entities. The following table summarizes our investments in and advances to our unconsolidated entities (in thousands): March 31, December 31, 2020 2019 Unconsolidated co-investment ventures $ 5,910,369 $ 5,873,784 Other ventures (1) 924,389 363,587 Total $ 6,834,758 $ 6,237,371 (1) In February 2020, we completed the Liberty Transaction and acquired an equity method investment in eight ventures. Unconsolidated Co-Investment Ventures The following table summarizes the Strategic Capital Revenues Three Months Ended March 31, 2020 2019 Recurring fees $ 74,687 $ 62,117 Transactional fees 19,960 11,348 Promote revenue 591 - Total strategic capital revenues from unconsolidated co-investment ventures (1) $ 95,238 $ 73,465 (1 ) 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 these ventures (dollars and square feet in millions): U.S. Other Americas Europe Asia Total As of: Mar 31, 2020 (1) Dec 31, 2019 Mar 31, 2020 (2) Dec 31, 2019 Mar 31, 2020 Dec 31, 2019 Mar 31, 2020 Dec 31, 2019 Mar 31, 2020 Dec 31, 2019 Key property information: Ventures 1 1 2 2 3 3 3 3 9 9 Operating properties 689 605 214 214 745 731 151 144 1,799 1,694 Square feet 112 99 45 44 178 176 63 59 398 378 Financial position: Total assets ($) 10,301 8,408 2,871 2,707 14,444 14,677 9,236 8,758 36,852 34,550 Third-party debt ($) 2,925 2,130 770 769 3,148 3,213 3,550 3,296 10,393 9,408 Total liabilities ($) 3,371 2,514 807 801 4,491 4,575 3,992 3,751 12,661 11,641 Our investment balance ($) (3) 1,720 1,728 791 658 2,678 2,800 721 688 5,910 5,874 Our weighted average ownership (4) 24.8 % 27.3 % 40.8 % 39.1 % 30.0 % 30.2 % 15.2 % 15.1 % 25.8 % 27.1 % U.S. Other Americas Europe Asia Total Operating Information: Mar 31, 2020 (1) Mar 31, 2019 Mar 31, 2020 (2) Mar 31, 2019 Mar 31, 2020 Mar 31, 2019 Mar 31, 2020 Mar 31, 2019 Mar 31, 2020 Mar 31, 2019 For the three months ended: Total revenues ($) 233 179 68 67 290 271 138 120 729 637 Net earnings ($) 34 29 23 34 78 71 26 37 161 171 Our earnings from unconsolidated co-investment ventures, net ($) 9 9 9 13 25 25 4 6 47 53 (1) In January 2020, USLF acquired a portfolio of 108 operating properties, aggregating 18.3 million square feet, in the IPT Transaction for cash consideration of $2.0 billion, including transaction costs and the assumption and repayment of debt. ( 2 ) PBLV and our other Brazilian joint ventures are combined as one venture for the purpose of this table. ( 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 March 31, 2020 and December 31, 2019, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018; (ii) recording additional costs associated with our investment in the venture; (iii) receivables, principally for fees and promotes ($94.7 million and $152.0 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to Nippon Prologis REIT, Inc. ( 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. Equity Commitments Related to Certain Unconsolidated Co-Investment Ventures At March 31, 2020, our remaining equity commitments were $366.7 million, principally for Prologis China Logistics Venture. The equity commitments expire from 2020 to 2026.

Assets Held for Sale or Contrib

Assets Held for Sale or Contribution	3 Months Ended
	Mar. 31, 2020
Real Estate Assets Held For Development And Sale [Abstract]
Assets Held for Sale or Contribution	NOTE 5. ASSETS HELD FOR SALE OR CONTRIBUTION We have investments in certain real estate properties that met the criteria to be classified as held for sale or contribution at March 31, 2020 and December 31, 2019. 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, including certain properties acquired through the Liberty Transaction and the IPT Transaction, consisted of the following (dollars and square feet in thousands): March 31, December 31, 2020 2019 Number of operating properties 161 28 Square feet 24,935 9,371 Total assets held for sale or contribution $ 1,975,524 $ 720,685 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 46,515 $ 41,994

Debt

Debt	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt	NOTE 6. DEBT All debt is incurred by the OP or its consolidated subsidiaries. The following table summarizes our debt (dollars in thousands): March 31, 2020 December 31, 2019 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding (2) Credit facilities 0.4 % $ 52,522 0.4 % $ 184,255 Senior notes (3) 2.3 % 13,045,081 2.4 % 9,660,570 Term loans and unsecured other (3) 1.1 % 1,930,955 0.9 % 1,441,882 Secured mortgage (3)(4) 3.7 % 648,034 3.4 % 619,170 Total 2.2 % $ 15,676,592 2.2 % $ 11,905,877 (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 and include the impact of a designated interest rate swap, which effectively fixes the interest rate on the related variable rate debt. (2) We borrow in the functional currencies of the countries where we invest. Included in the outstanding balances were borrowings denominated in the following currencies: March 31, 2020 December 31, 2019 Amount Outstanding % of Total Amount Outstanding % of Total British pound sterling $ 1,085,836 6.9 % $ 656,549 5.5 % Canadian dollar 255,073 1.6 % 279,730 2.3 % Euro 6,236,824 39.8 % 6,128,986 51.5 % Japanese yen 2,078,927 13.3 % 2,329,381 19.6 % U.S. dollar 6,019,932 38.4 % 2,511,231 21.1 % Total $ 15,676,592 $ 11,905,877 (3) Through the Liberty Transaction, we assumed approximately $2.5 billion of senior notes, $246.9 million of secured mortgage debt and a $100.1 million term loan with a weighted average stated interest rate of 3.8%. Prior to March 31, 2020, we paid down $1.8 billion of the assumed debt with senior notes we issued at lower rates in February 2020, as detailed below. See below for additional activity on debt assumed and early extinguishment of debt in the Liberty Transaction. (4) Through the IPT Transaction, USLV assumed approximately $341.8 million of secured mortgage debt, all of which was paid down at closing. See below for early extinguishment of debt in the IPT Transaction. Credit Facilities In January 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 based on the public debt ratings of the OP. The Global Facility i s scheduled to mature in January 2023 ; howe ver, we may extend the maturit y 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 ($460.7 million at March 31, 2020). We have the ability to increase the Revolver to ¥65.0 billion ($598.9 million at March 31, 2020), 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 at March 31, 2020 (in millions): Aggregate lender commitments $ 3,923 Less: Borrowings outstanding 53 Outstanding letters of credit 40 Current availability $ 3,830 Senior Notes The following table summarizes the issuances and redemptions of senior notes during the three months ended March 31, 2020 (principal in thousands): Aggregate Principal Initial Borrowing Date Borrowing Currency USD (1) Weighted Average Stated Interest Rate at March 31, 2020 Maturity Dates February (2) € 1,350,000 $ 1,485,405 0.8% February 2022 – 2035 February (2) $ 2,200,000 $ 2,200,000 2.6% April 2027 – 2050 February £ 250,000 $ 322,490 1.9% February 2035 Aggregate Principal Redemption Date Borrowing Currency USD (1) Stated Interest Rate Maturity Date January € 400,000 $ 445,880 Euribor plus 0.3% January 2020 March (2) € 700,000 $ 783,090 1.4% May 2021 (1) The exchange rate used to calculate into U.S. dollars was the spot rate at the settlement date. (2) We utilized the proceeds from these issuances to redeem $1.7 billion of senior notes assumed in the Liberty Transaction, as discussed above, and our €700.0 million ($783.1 million) In February 2020, we completed an exchange offer for two series of Liberty’s senior notes for an aggregate amount of $750.0 million, with $689.8 million, or 92%, of the aggregate principal amount being validly tendered for exchange. These senior notes are in the aggregate principal amounts of $400.0 million due in October 2026 with an interest rate of 3.3% and $350.0 million due in February 2029 with an interest rate of 4.4%. The senior notes were exchanged for notes issued by a wholly owned subsidiary and guaranteed by the OP. As a result of the exchange offer, we have no separate remaining financial reporting obligations or financial covenants associated with the senior notes assumed in the Liberty Transaction. All other terms of the newly issued senior notes remained substantially the same. Term Loans During the three months ended March 31, 2020, we extended the maturity of the multi-currency term loan (“2017 Term Loan”) by one year until May 2021. We may extend the maturity date by one more year to 2022, subject to the satisfaction of certain conditions and the payment of an extension fee. During the three months ended March 31, 2020 and 2019, we borrowed a net $500.0 million and paid down $500.0 million on the 2017 Term Loan, respectively. Long-Term Debt Maturities Scheduled principal payments due on our debt for the remainder of 2020 and for each year through the period ended December 31, 2024, and thereafter were as follows at March 31, 2020 (in thousands): Unsecured Credit Senior Term Loans Secured Maturity Facilities Notes and Other Mortgage Total 2020 (1) $ - $ - $ 10,785 $ 19,109 $ 29,894 2021 (1)(2)(3) 52,522 - 500,000 30,895 583,417 2022 - 931,260 - 11,745 943,005 2023 - 850,000 119,617 33,719 1,003,336 2024 - 766,920 - 262,138 1,029,058 Thereafter - 10,528,222 1,308,454 289,832 12,126,508 Subtotal 52,522 13,076,402 1,938,856 647,438 15,715,218 Unamortized net premiums - 26,219 - 2,864 29,083 Unamortized debt issuance costs - (57,540 ) (7,901 ) (2,268 ) (67,709 ) Total $ 52,522 $ 13,045,081 $ 1,930,955 $ 648,034 $ 15,676,592 (1) We expect to repay the amounts maturing in the next twelve months with cash generated from operations, proceeds from dispositions of real estate properties, or as necessary, with borrowings on our Credit Facilities. (2) Included in the 2021 maturities is the 2017 Term Loan that can be extended until 2022. (3) Included in the 2021 maturities is the Revolver that can be extended until 2022. Early Extinguishment of Debt During the three months ended March 31, 2020, we recognized $42.8 million in losses, mostly due to the redemption of the € During the three months ended March 31, 2019, losses on early extinguishment of debt were not significant. Financial Debt Covenants We have $13.0 billion of senior notes and $1.9 billion of term loans outstanding at March 31, 2020 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 March 31, 2020, 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.	3 Months Ended
	Mar. 31, 2020
Equity [Abstract]
Stockholders' Equity of Prologis, Inc.	NOTE 7. STOCKHOLDER’S EQUITY OF PROLOGIS, INC. In March 2020, the Board of Directors authorized a new share purchase program for the repurchase of outstanding shares of our common stock on the open market or in privately negotiated transactions for an aggregate purchase price of up to $1.0 billion. During the three months ended March 31, 2020, we repurchased and retired 0.5 million shares of common stock for an aggregate price of $34.8 million at a weighted average price of $64.66 per share on the open market.

Noncontrolling Interests

Noncontrolling Interests	3 Months Ended
	Mar. 31, 2020
Noncontrolling Interest [Abstract]
Noncontrolling Interests	NOTE 8. NONCONTROLLING INTERESTS Prologis, L.P. We report noncontrolling interests related to several entities we consolidate but of which we do not own 100% of the equity. These entities include two real estate partnerships that have issued limited partnership units to third parties. Depending on the specific partnership agreements, these limited partnership units are 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. 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 liabilities (dollars in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities Mar 31, 2020 Dec 31, 2019 Mar 31, 2020 Dec 31, 2019 Mar 31, 2020 Dec 31, 2019 Mar 31, 2020 Dec 31, 2019 Prologis U.S. Logistics Venture (1) 55.0 % 55.0 % $ 3,493,533 $ 2,677,846 $ 7,879,419 $ 6,077,016 $ 123,772 $ 99,397 Other consolidated entities (2) various various 98,453 97,548 1,004,525 849,620 79,221 85,186 Prologis, L.P. 3,591,986 2,775,394 8,883,944 6,926,636 202,993 184,583 Limited partners in Prologis, L.P. (3)(4) 924,442 643,263 - - - - Prologis, Inc. $ 4,516,428 $ 3,418,657 $ 8,883,944 $ 6,926,636 $ 202,993 $ 184,583 (1) As discussed in Note 3, in January 2020, USLV acquired a portfolio of 127 operating properties, aggregating 19.0 million square feet, in the IPT Transaction for $2.0 billion, including transaction costs and the assumption and repayment of debt . ( 2) 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 March 31, 2020 and December 31, 2019 were exchangeable into cash or, at our option, ( 3 ) We had 8.6 million Class A Units that were convertible into 8.1 million limited partnership units of the OP at March 31, 2020 and December 31, 2019. ( 4 ) At March 31, 2020 and December 31, 2019, excluding the Class A Units, there were limited partnership units in the OP that were exchangeable into cash or, at our option, 8.5 million and 6.2 million shares of the Parent’s common stock, respectively.

Long-Term Compensation

Long-Term Compensation	3 Months Ended
	Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Long-Term Compensation	NOTE 9. LONG-TERM COMPENSATION 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 -year compound annualized TSR for the Morgan Stanley Capital International (“MSCI”) US REIT Index for the same period plus 100 basis points. If the Outperformance Hurdle is met, a compensation pool will be formed equal to 3% of the excess value created, subject to a maximum as defined for each performance period. POP awards cannot be paid at a time when our absolute TSR is negative, therefore, if after seven years the TSR has not been positive, the awards will be forfeited. We granted participation points for the 2020 – 2022 performance period in January 2020, with a fair value of $28.8 million using a Monte Carlo valuation model that assumed a risk-free interest rate of 1.7% and an expected volatility of 16.0%. The 2020 – 2022 performance period has an absolute maximum cap of $100 million. If an award is earned at the end of the initial three-year performance period, then 20 % of the POP award is paid and the remaining 80 % is subject to additional seven-year cliff vesting. The 20% that is paid at the end of the three-year performance period is subject to an additional three-year holding requirement. The Outperformance Hurdle was met for the 2017 – 2019 performance period, which resulted in awards being earned at December 31, 2019. Initial awards of $75.0 million in aggregate were awarded in January 2020 in the form of 0.3 million shares of common stock and 0.5 million POP LTIP Units and LTIP Units. Participants are not able to sell or transfer equity awards received until three years after the end of the initial period. One-third of the remaining compensation pool in excess of the $75 million aggregate initial award amounts can be earned at the end of each of the three years following the end of the initial three-year three-year Other Equity-Based Compensation Plans and Programs Our other equity-based compensation plans and programs include (i) the Prologis Promote Plan (“PPP”); (ii) the annual long-term incentive (“LTI”) equity award program (“Annual LTI Award”); and (iii) the annual bonus exchange program. Awards under these plans and programs may be issued in the form of restricted stock units (“RSUs”) or LTIP Units at the participant’s election. 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. Summary of Award Activity RSUs The following table summarizes the activity for RSUs for the three months ended March 31, 2020 (units in thousands): Weighted Average Unvested RSUs Grant Date Fair Value Balance at January 1, 2020 1,165 $ 68.44 Granted 362 93.17 Vested and distributed (437 ) 61.74 Forfeited (23 ) 73.64 Balance at March 31, 2020 1,067 $ 77.68 LTIP Units The following table summarizes the activity for LTIP Units for the three months ended March 31, 2020 (units in thousands): Vested Unvested Unvested Weighted Average LTIP Units LTIP Units Grant Date Fair Value Balance at January 1, 2020 3,714 2,678 $ 60.06 Granted - 658 93.23 Vested LTIP Units 888 (888 ) 64.12 Vested POP LTIP Units (1) 303 - N/A Unvested POP LTIP Units (1) - 345 19.03 Conversion to common limited partnership units (201 ) - N/A Balance at March 31, 2020 4,704 2,793 $ 61.44 (1) Vested and unvested units were based on the POP performance criteria being met for the 2017 – 2019 performance period and represented the earned award amounts. Vested and unvested units are included in the award discussion above. These amounts also include awards earned for prior performance periods related to the compensation pool in excess of the initial award.

Earnings Per Common Share or Un

Earnings Per Common Share or Unit	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
Earnings Per Common Share or Unit	NOTE 10. EARNINGS PER COMMON SHARE OR UNIT We determine basic earnings per share or unit based on the weighted average number of shares of common stock or units outstanding during the period. We compute diluted earnings per share or unit based on the weighted average number of shares or units outstanding combined with the incremental weighted average effect from all outstanding potentially dilutive instruments. The computation of our basic and diluted earnings per share and unit was as follows (in thousands, except per share and unit amounts): Three Months Ended March 31, Prologis, Inc. 2020 2019 Net earnings attributable to common stockholders – Basic $ 489,418 $ 347,047 Net earnings attributable to exchangeable limited partnership units (1) 14,049 10,657 Adjusted net earnings attributable to common stockholders – Diluted $ 503,467 $ 357,704 Weighted average common shares outstanding – Basic 698,272 629,676 Incremental weighted average effect on exchange of limited partnership units (1) 20,230 19,718 Incremental weighted average effect of equity awards 5,481 4,965 Weighted average common shares outstanding – Diluted (2) 723,983 654,359 Net earnings per share attributable to common stockholders: Basic $ 0.70 $ 0.55 Diluted $ 0.70 $ 0.55 Three Months Ended March 31, Prologis, L.P. 2020 2019 Net earnings attributable to common unitholders $ 503,388 $ 357,621 Net earnings attributable to Class A Units (5,651 ) (4,606 ) Net earnings attributable to common unitholders – Basic 497,737 353,015 Net earnings attributable to Class A Units 5,651 4,606 Net earnings attributable to exchangeable other limited partnership units 79 83 Adjusted net earnings attributable to common unitholders – Diluted $ 503,467 $ 357,704 Weighted average common partnership units outstanding – Basic 710,141 640,504 Incremental weighted average effect on exchange of Class A Units 8,062 8,356 Incremental weighted average effect on exchange of other limited partnership units 299 534 Incremental weighted average effect of equity awards of Prologis, Inc. 5,481 4,965 Weighted average common units outstanding – Diluted (2) 723,983 654,359 Net earnings per unit attributable to common unitholders: Basic $ 0.70 $ 0.55 Diluted $ 0.70 $ 0.55 (1) The exchangeable limited partnership units include the units as discussed in Note 8. 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 consisted of the following: Three Months Ended March 31, 2020 2019 Class A Units 8,062 8,356 Other limited partnership units 299 534 Equity awards 7,709 7,673 Prologis, L.P. 16,070 16,563 Common limited partnership units 11,869 10,828 Prologis, Inc. 27,939 27,391

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Financial Instruments and Fair Value Measurements	NOTE 11. FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Derivative Financial Instruments In the normal course of business, our operations are exposed to 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. There have been no significant changes in our policy or strategy from what was disclosed in our Annual Report on Form 10-K for the year ended December 31, 2019. The following table presents the fair value of our derivative financial instruments recognized within Other Assets Other Liabilities March 31, 2020 December 31, 2019 Asset Liability Asset Liability Undesignated derivatives Foreign currency contracts Forwards Brazilian real $ 1,861 $ - $ 181 $ 49 British pound sterling 11,333 33 731 3,823 Canadian dollar 7,070 - 523 1,855 Chinese renminbi 3 23 - 81 Euro 13,765 5 7,135 2,034 Japanese yen 6,133 1 3,889 97 Swedish krona 1,638 - - 797 Designated derivatives Foreign currency contracts Net investment hedges British pound sterling 10,141 1,432 807 13,189 Canadian dollar 5,590 - - 1,926 Interest rate swaps Cash flow hedges Euro 106 - - - Total fair value of derivatives $ 57,640 $ 1,494 $ 13,266 $ 23,851 Undesignated Derivative Financial Instruments Foreign Currency Contracts The following table summarizes the activity of our undesignated foreign currency contracts for the three months ended March 31 (in millions, except for weighted average forward rates and number of active contracts): 2020 2019 CAD EUR GBP JPY SEK Other Total BRL CAD EUR GBP JPY Total Notional amounts at January 1 ($) 120 581 178 182 31 15 1,107 5 55 314 118 177 669 New contracts ($) - 809 294 60 9 19 1,191 489 - - 112 - 601 Matured, expired or settled contracts ($) (11 ) (1,003 ) (267 ) (15 ) (3 ) (23 ) (1,322 ) (494 ) (9 ) (35 ) (21 ) (20 ) (579 ) Notional amounts at March 31 ($) 109 387 205 227 37 11 976 - 46 279 209 157 691 Weighted average forward rate at March 31 1.32 1.16 1.77 103.08 9.41 - 1.28 1.21 1.22 104.86 Active contracts at March 31 35 61 64 53 32 - 20 29 22 30 The following table summarizes the undesignated derivative financial instruments exercised and associated realized and unrealized gains in Foreign Currency and Derivative Gains, Net Three Months Ended March 31, 2020 2019 Exercised contracts 33 23 Realized gains on the matured, expired or settled contracts $ 4 $ 1 Unrealized gains on the change in fair value of outstanding contracts $ 47 $ 7 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 three months ended March 31 2020 2019 CAD GBP Total BRL CAD GBP Total Notional amounts at January 1 ($) 97 387 484 460 100 127 687 New contracts ($) - 324 324 489 - 262 751 Matured, expired or settled contracts ($) - (576 ) (576 ) (949 ) - - (949 ) Notional amounts at March 31 ($) 97 135 232 - 100 389 489 Weighted average forward rate at March 31 1.32 1.35 - 1.28 1.30 Active contracts at March 31 2 1 - 2 6 Interest Rate Swaps The following table summarizes the activity of our interest rate swaps designated as cash flow hedges for the three months ended March 31 (in millions): 2020 2019 EUR USD EUR Notional amounts at January 1 ($) - - 500 New contracts ($) (1)(2) 165 750 - Matured, expired or settled contracts ($) (2) - (750 ) - Notional amounts at March 31 ($) 165 - 500 (1) During the first quarter of 2020, we entered into one interest rate swap contract with an aggregate notional amount of €150.0 million ($165.0 million) to effectively fix the interest rate on our senior notes bearing a floating rate of Euribor plus 0.3% issued in February 2020. (2) During the first quarter of 2020, we entered into four treasury lock contracts with an aggregate notional amount of $750.0 million to effectively fix the interest rate on the forecasted issuance of senior notes, which were then issued in February 2020. Subsequent to issuance, we recorded a loss of $16.8 million associated with these derivatives that will be amortized out of A ccumulated Other Comprehensive Income/Loss Interest Expense Designated Nonderivative Financial Instruments The following table summarizes our debt and accrued interest, designated as a hedge of our net investment in international subsidiaries (in millions): March 31, 2020 December 31, 2019 British pound sterling $ 633 $ 329 Euro $ - $ 850 The following table summarizes the recognized unrealized gains in Foreign Currency and Derivative Gains, Net 2020 Unrealized gains on the unhedged portion $ 82 The unrealized loss on the unhedged portion recognized during the three months ended March 31, 2019 was not material. 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) Three Months Ended March 31, 2020 2019 Derivative net investment hedges $ 25,359 $ (19,452 ) Debt designated as nonderivative net investment hedges 32,750 63,657 Cumulative translation adjustment (191,642 ) 15,875 Total foreign currency translation gains (losses), net $ (133,533 ) $ 60,080 Cash flow hedges (1) (2) $ (15,525 ) $ 1,105 Our share of derivatives from unconsolidated co-investment ventures (7,923 ) (3,738 ) Total unrealized losses on derivative contracts, net $ (23,448 ) $ (2,633 ) Total change in other comprehensive income (loss) $ (156,981 ) $ 57,447 (1) We estimate an additional expense of $5.7 million will be reclassified to Interest Expense (2) Included in the three months ended March 31, 2020 was $16.8 million in losses associated with the termination of the four treasury lock contracts. Fair Value Measurements There have been no significant changes in our policy from what was disclosed in our Annual Report on Form 10-K for the year ended December 31, 2019. Fair Value Measurements on a Recurring Basis At March 31, 2020 and December 31, 2019, other than the derivatives discussed previously, we did not have any significant financial assets or financial liabilities that were measured at fair value on a recurring basis in the Consolidated Financial Statements. All of our derivatives held at March 31, 2020 and December 31, 2019, 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. At March 31, 2020 and December 31, 2019, we estimate 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 2 and 3 and assets held for sale or contribution in Note 5. Fair Value of Financial Instruments At March 31, 2020 and December 31, 2019, 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 March 31, 2020 and December 31, 2019, 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 (in thousands): March 31, 2020 December 31, 2019 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 52,522 $ 52,522 $ 184,255 $ 184,255 Senior notes 13,045,081 12,693,738 9,660,570 10,228,715 Term loans and unsecured other 1,930,955 1,953,500 1,441,882 1,463,841 Secured mortgage 648,034 682,740 619,170 651,047 Total $ 15,676,592 $ 15,382,500 $ 11,905,877 $ 12,527,858 The fair value of the senior notes decreased during the three months ended March 31, 2020 due to the increase in bond yields in the market as compared to the lower weighted average interest rates on our senior notes.

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Business Segments	NOTE 12. 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: Three Months Ended March 31, 2020 2019 Revenues: Real estate operations segment: U.S. $ 829,383 $ 651,869 Other Americas 26,079 23,865 Europe 15,502 8,557 Asia 10,686 13,956 Total real estate operations segment 881,650 698,247 Strategic capital segment: U.S. 34,342 20,268 Other Americas 9,111 7,900 Europe 32,590 28,838 Asia 20,548 16,799 Total strategic capital segment 96,591 73,805 Total revenues 978,241 772,052 Segment net operating income: Real estate operations segment: U.S. (1) 602,604 471,076 Other Americas 19,456 19,053 Europe 10,155 5,544 Asia 7,243 10,672 Total real estate operations segment 639,458 506,345 Strategic capital segment: U.S. (1) 13,624 3,327 Other Americas 5,179 5,422 Europe 20,594 19,151 Asia 10,620 7,847 Total strategic capital segment 50,017 35,747 Total segment net operating income 689,475 542,092 Reconciling items: General and administrative expenses (69,689 ) (69,701 ) Depreciation and amortization expenses (345,970 ) (284,009 ) Gains on dispositions of development properties and land, net 162,750 42,441 Gains on other dispositions of investments in real estate, net 31,491 145,767 Operating income 468,057 376,590 Earnings from unconsolidated entities, net 88,730 56,666 Interest expense (75,642 ) (60,507 ) Interest and other income, net 370 7,910 Foreign currency and derivative gains, net 113,329 8,734 Losses on early extinguishment of debt, net (42,767 ) (2,116 ) Earnings before income taxes $ 552,077 $ 387,277 March 31, 2020 December 31, 2019 Segment assets: Real estate operations segment: U.S. $ 41,487,331 $ 27,999,868 Other Americas 1,286,433 1,332,237 Europe 1,474,343 1,379,579 Asia 706,421 879,072 Total real estate operations segment 44,954,528 31,590,756 Strategic capital segment: (2) U.S. 14,211 14,529 Europe 25,280 25,280 Asia 353 359 Total strategic capital segment 39,844 40,168 Total segment assets 44,994,372 31,630,924 Reconciling items: Investments in and advances to unconsolidated entities 6,834,758 6,237,371 Assets held for sale or contribution 1,975,524 720,685 Lease right-of-use assets 115,270 111,439 Cash and cash equivalents 807,871 1,088,855 Other assets 279,452 242,576 Total reconciling items 10,012,875 8,400,926 Total assets $ 55,007,247 $ 40,031,850 (1) This includes compensation, personnel costs and Prologis Promote Plan 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 million at March 31, 2020 and December 31, 2019.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	NOTE 13. SUPPLEMENTAL CASH FLOW INFORMATION Our significant noncash investing and financing activities for the three months ended March 31, 2020 and 2019 included the following: • We completed the Liberty Transaction on February 4, 2020 for $13.0 billion through the issuance of equity and the assumption of debt. See Note 2 for more information on this transaction. • W e recognized Lease Right-of-Use Assets and Lease Liabilities on the Consolidated Balance Sheets, including any new leases, renewals, modifications and terminations after January 1, 2020 of $3.8 million each, and $393.0 million and $400.3 million, respectively, after January 1, 2019 related to leases in which we are the lessee. Amounts in 2019 are due to our adoption of the new lease standard on January 1, 2019. • We capitalized $8.3 million and $7.5 million in 2020 and 2019, respectively, of equity-based compensation expense. • We received $57.1 million and $177.2 million in 2020 and 2019, respectively, of ownership interests in certain unconsolidated co-investment ventures as a portion of our proceeds from the contribution of properties to these entities, as disclosed in Note 4. 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. • We issued 0.1 million and 0.4 million shares in 2020 and 2019, respectively, of the Parent’s common stock upon redemption of an equal number of common limited partnership units in the OP. We paid $110.5 million and $95.4 million for interest, net of amounts capitalized, for the three months ended March 31, 2020 and 2019, respectively. We paid $21.7 million and $26.5 million for income taxes, net of refunds, for the three months ended March 31, 2020 and 2019, respectively.

General (Policies)

General (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Business	Business . Prologis, Inc. (or the “Parent”) commenced operations as a fully integrated real estate company in 1997, elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), and believes the current organization and method of operation will enable it to maintain its status as a REIT. The Parent is the general partner of Prologis, L.P. (or the “Operating Partnership” 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 12 for further discussion of our business segments. Unless otherwise indicated, the Notes to the Consolidated Financial Statements apply to both the Parent and the 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 March 31, 2020, the Parent owned a 97.21% common general partnership interest in the OP and 100% of the preferred units in the OP. The remaining 2.79% 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.
Basis of Presentation	Basis of Presentation. The accompanying Consolidated Financial Statements are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) and are presented in our reporting currency, the U.S. dollar. All material intercompany transactions with consolidated entities have been eliminated. The accompanying unaudited interim financial information has been prepared according to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain information and note disclosures normally included in our annual financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations. Our management believes that the disclosures presented in these financial statements are adequate to make the information presented not misleading. In our opinion, all adjustments and eliminations, consisting only of normal recurring adjustments, necessary to present fairly the financial position and results of operations for both the Parent and the OP for the reported periods have been included. The results of operations for such interim periods are not necessarily indicative of the results for the full year. The accompanying unaudited interim financial information should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2019, as filed with the SEC, and other public information.
New Accounting Pronouncements	New Accounting Pronouncements. Accounting for Lease Concessions Related to the Effects of the Coronavirus (“COVID-19”) Pandemic . In April 2020, the Financial Accounting Standards Board (“FASB”) issued a Staff Question-and-Answer (“Q&A”) to clarify whether lease concessions related to the effects of COVID-19 require the application of the lease modification guidance under the new lease standard, which we adopted on January 1, 2019. For rent deferrals granted as of April 27 th Reference Rate Reform . In March 2020, the FASB issued an Accounting Standard Update (“ASU”) that provided practical expedients to address existing guidance on contract modifications and hedge accounting due to the expected market transition from the London Inter - bank Offered Rate (“LIBOR”) and other interbank offered rates (together “IBORs”) to alternative reference rates, such as the Secured Overnight Financing Rate . In July 2017, the Financial Conduct Authority announced it intended to stop compelling banks to submit rates for the calculation of LIBOR after 2021. We refer to this transition as “reference rate reform.” The first practical expedient allows companies to elect to not apply certain modification accounting requirements to debt, derivative and lease contracts affected by reference rate reform if certain criteria are met. These criteria include the following: (i) the contract referenced an IBOR rate that is expected to be discontinued; (ii) the modified terms directly replace or have the potential to replace the IBOR rate that is expected to be discontinued; and (iii) any contemporaneous changes to other terms that change or have the potential to change the amount and timing of contractual cash flows must be related to the replacement of the IBOR rate. If the contract meets all three criteria, there is no requirement for remeasurement of the contract at the modification date or reassessment of the previous accounting determination. The second practical expedient allows companies to change the reference rate and other critical terms related to the reference rate reform in derivative hedge documentation without having to de-designate the hedging relationship. This allows for companies to continue applying hedge accounting to existing cash flow and net investment hedges. The ASU was effective upon issuance on a prospective basis beginning January 1, 2020 and may be elected over time as reference rate reform activities occur. During the first quarter of 2020, we elected to apply the hedge accounting practical expedient to our net investment hedges and cash flow hedges. We will continue to evaluate our debt, derivative and lease contracts that are eligible for modification relief and may apply those elections as needed.

Liberty Transaction (Tables)

Liberty Transaction (Tables)	3 Months Ended
	Mar. 31, 2020
Liberty Transaction [Member]
Schedule of Aggregate Equity Consideration	The aggregate equity consideration is calculated below (in millions, except price per share): Number of Prologis shares and units issued upon conversion of Liberty shares and units at February 4, 2020 109.01 Multiplied by closing price of Prologis' common stock on February 3, 2020 $ 91.87 Fair value of Prologis shares and units issued $ 10,015

Real Estate (Tables)

Real Estate (Tables)	3 Months Ended
	Mar. 31, 2020
Real Estate [Abstract]
Investments in Real Estate Properties	Investments in real estate properties consisted of the following (dollars and square feet in thousands): Square Feet Number of Buildings Mar 31, Dec 31, Mar 31, Dec 31, Mar 31, Dec 31, 2020 (1) 2019 2020 (1) 2019 2020 (1) 2019 Operating properties: Buildings and improvements 439,507 354,297 2,260 1,876 $ 30,471,635 $ 23,067,625 Improved land 11,957,756 8,220,208 Development portfolio, including land costs: Prestabilized 6,622 9,133 24 28 510,338 784,584 Properties under development 27,617 26,893 71 77 1,326,456 1,084,683 Land (2) 1,463,982 1,101,646 Other real estate investments (3) 2,382,132 965,668 Total investments in real estate properties 48,112,299 35,224,414 Less accumulated depreciation 5,662,351 5,437,662 Net investments in real estate properties $ 42,449,948 $ 29,786,752 ( 1 ) The portfolio acquired in the Liberty Transaction, excluding properties classified as Assets Held for Sale or Contribution (2) At March 31, 2020 and December 31, 2019, our land is comprised of 5,870 and 4,411 acres, respectively. ( 3 ) Included in other real estate investments were: (i) non-strategic real estate assets acquired in the Liberty Transaction for which our intent is not to operate these properties long-term; (ii) land parcels that are ground leased to third parties; (iii) non-logistics real estate; (iv) our corporate headquarters; (v) costs related to future development projects, including purchase options on land; (vi) earnest money deposits associated with potential acquisitions; and (vii) 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 Liberty Transaction as discussed in Note 2 (dollars and square feet in thousands): Three Months Ended March 31, 2020 (1) 2019 Number of operating properties 137 12 Square feet 20,256 967 Acres of land 267 188 Acquisition cost of net investments in real estate (2) $ 2,393,767 $ 312,252 (1) On January 8, 2020, our two U.S. co-investment ventures, Prologis Targeted U.S. Logistics Fund, L.P. (“USLF”) and Prologis U.S. Logistics Venture (“USLV”), acquired the wholly-owned real estate assets of Industrial Property Trust Inc. (“IPT”) for $2.0 billion each in a cash transaction, including transaction costs and the assumption and repayment of debt (the “IPT Transaction”). As USLV is a consolidated co-investment venture, the number of operating properties, square feet and acquisition cost are included in the consolidated acquisition activity. For further discussion on the acquisition by USLF, see Note 4, and for USLV, see Notes 6 and 8. (2) Includes the acquisition cost of properties classified in other real estate investments of $86.8 million for the three months ended March 31, 2020. We did not acquire properties classified in other real estate investments during the three months ended March 31, 2019.
Summary of Dispositions of Net Investments in Real Estate	The following table summarizes our dispositions of net investments in real estate (dollars and square feet in thousands): Three Months Ended March 31, 2020 2019 Dispositions of development properties and land, net Contributions to unconsolidated entities Number of properties 9 5 Square feet 3,524 1,212 Net proceeds $ 554,343 $ 124,322 Gains on contributions, net $ 144,745 $ 30,833 Dispositions to third parties Number of properties 2 2 Square feet 1,112 670 Net proceeds $ 79,220 $ 52,024 Gains on dispositions, net $ 18,005 $ 11,608 Total gains on dispositions of development properties and land, net $ 162,750 $ 42,441 Other dispositions of investments in real estate, net (1) Number of properties 18 14 Square feet 2,305 6,937 Net proceeds $ 160,557 $ 619,843 Gains on contributions and dispositions, net $ 31,491 $ 10,745 Gains on partial redemption of investment in an unconsolidated co-investment venture (2) $ - $ 135,022 Total gains on other dispositions of investments in real estate, net $ 31,491 $ 145,767 ( 1 ) In January 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 20.0% equity interest. ( 2 ) In February 2019, we redeemed a portion of our investment in a European unconsolidated co-investment venture.

Unconsolidated Entities (Tables

Unconsolidated Entities (Tables)	3 Months Ended
	Mar. 31, 2020
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in and Advances to our Unconsolidated Entities	The following table summarizes our investments in and advances to our unconsolidated entities (in thousands): March 31, December 31, 2020 2019 Unconsolidated co-investment ventures $ 5,910,369 $ 5,873,784 Other ventures (1) 924,389 363,587 Total $ 6,834,758 $ 6,237,371 (1) In February 2020, we completed the Liberty Transaction and acquired an equity method investment in eight ventures.
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 these ventures (dollars and square feet in millions): U.S. Other Americas Europe Asia Total As of: Mar 31, 2020 (1) Dec 31, 2019 Mar 31, 2020 (2) Dec 31, 2019 Mar 31, 2020 Dec 31, 2019 Mar 31, 2020 Dec 31, 2019 Mar 31, 2020 Dec 31, 2019 Key property information: Ventures 1 1 2 2 3 3 3 3 9 9 Operating properties 689 605 214 214 745 731 151 144 1,799 1,694 Square feet 112 99 45 44 178 176 63 59 398 378 Financial position: Total assets ($) 10,301 8,408 2,871 2,707 14,444 14,677 9,236 8,758 36,852 34,550 Third-party debt ($) 2,925 2,130 770 769 3,148 3,213 3,550 3,296 10,393 9,408 Total liabilities ($) 3,371 2,514 807 801 4,491 4,575 3,992 3,751 12,661 11,641 Our investment balance ($) (3) 1,720 1,728 791 658 2,678 2,800 721 688 5,910 5,874 Our weighted average ownership (4) 24.8 % 27.3 % 40.8 % 39.1 % 30.0 % 30.2 % 15.2 % 15.1 % 25.8 % 27.1 % U.S. Other Americas Europe Asia Total Operating Information: Mar 31, 2020 (1) Mar 31, 2019 Mar 31, 2020 (2) Mar 31, 2019 Mar 31, 2020 Mar 31, 2019 Mar 31, 2020 Mar 31, 2019 Mar 31, 2020 Mar 31, 2019 For the three months ended: Total revenues ($) 233 179 68 67 290 271 138 120 729 637 Net earnings ($) 34 29 23 34 78 71 26 37 161 171 Our earnings from unconsolidated co-investment ventures, net ($) 9 9 9 13 25 25 4 6 47 53 (1) In January 2020, USLF acquired a portfolio of 108 operating properties, aggregating 18.3 million square feet, in the IPT Transaction for cash consideration of $2.0 billion, including transaction costs and the assumption and repayment of debt. ( 2 ) PBLV and our other Brazilian joint ventures are combined as one venture for the purpose of this table. ( 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 March 31, 2020 and December 31, 2019, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018; (ii) recording additional costs associated with our investment in the venture; (iii) receivables, principally for fees and promotes ($94.7 million and $152.0 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to Nippon Prologis REIT, Inc. ( 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.
Summary of Strategic Capital Revenues Recognized in Consolidated Statements of Income Related to Co-Investment Ventures	The following table summarizes the Strategic Capital Revenues Three Months Ended March 31, 2020 2019 Recurring fees $ 74,687 $ 62,117 Transactional fees 19,960 11,348 Promote revenue 591 - Total strategic capital revenues from unconsolidated co-investment ventures (1) $ 95,238 $ 73,465 (1 ) These amounts exclude strategic capital revenues from other ventures.

Assets Held for Sale or Contr_2

Assets Held for Sale or Contribution (Tables)	3 Months Ended
	Mar. 31, 2020
Real Estate Assets Held For Development And Sale [Abstract]
Summary of Assets Held for Sale or Contribution	Assets held for sale or contribution, including certain properties acquired through the Liberty Transaction and the IPT Transaction, consisted of the following (dollars and square feet in thousands): March 31, December 31, 2020 2019 Number of operating properties 161 28 Square feet 24,935 9,371 Total assets held for sale or contribution $ 1,975,524 $ 720,685 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 46,515 $ 41,994

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
Debt Summary	The following table summarizes our debt (dollars in thousands): March 31, 2020 December 31, 2019 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding (2) Credit facilities 0.4 % $ 52,522 0.4 % $ 184,255 Senior notes (3) 2.3 % 13,045,081 2.4 % 9,660,570 Term loans and unsecured other (3) 1.1 % 1,930,955 0.9 % 1,441,882 Secured mortgage (3)(4) 3.7 % 648,034 3.4 % 619,170 Total 2.2 % $ 15,676,592 2.2 % $ 11,905,877 (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 and include the impact of a designated interest rate swap, which effectively fixes the interest rate on the related variable rate debt. (2) We borrow in the functional currencies of the countries where we invest. Included in the outstanding balances were borrowings denominated in the following currencies: March 31, 2020 December 31, 2019 Amount Outstanding % of Total Amount Outstanding % of Total British pound sterling $ 1,085,836 6.9 % $ 656,549 5.5 % Canadian dollar 255,073 1.6 % 279,730 2.3 % Euro 6,236,824 39.8 % 6,128,986 51.5 % Japanese yen 2,078,927 13.3 % 2,329,381 19.6 % U.S. dollar 6,019,932 38.4 % 2,511,231 21.1 % Total $ 15,676,592 $ 11,905,877 (3) Through the Liberty Transaction, we assumed approximately $2.5 billion of senior notes, $246.9 million of secured mortgage debt and a $100.1 million term loan with a weighted average stated interest rate of 3.8%. Prior to March 31, 2020, we paid down $1.8 billion of the assumed debt with senior notes we issued at lower rates in February 2020, as detailed below. See below for additional activity on debt assumed and early extinguishment of debt in the Liberty Transaction. (4) Through the IPT Transaction, USLV assumed approximately $341.8 million of secured mortgage debt, all of which was paid down at closing. See below for early extinguishment of debt in the IPT Transaction.
Credit Facilities	The following table summarizes information about our Credit Facilities at March 31, 2020 (in millions): Aggregate lender commitments $ 3,923 Less: Borrowings outstanding 53 Outstanding letters of credit 40 Current availability $ 3,830
Summary of Issuances and Redemptions of Senior Notes	The following table summarizes the issuances and redemptions of senior notes during the three months ended March 31, 2020 (principal in thousands): Aggregate Principal Initial Borrowing Date Borrowing Currency USD (1) Weighted Average Stated Interest Rate at March 31, 2020 Maturity Dates February (2) € 1,350,000 $ 1,485,405 0.8% February 2022 – 2035 February (2) $ 2,200,000 $ 2,200,000 2.6% April 2027 – 2050 February £ 250,000 $ 322,490 1.9% February 2035 Aggregate Principal Redemption Date Borrowing Currency USD (1) Stated Interest Rate Maturity Date January € 400,000 $ 445,880 Euribor plus 0.3% January 2020 March (2) € 700,000 $ 783,090 1.4% May 2021 (1) The exchange rate used to calculate into U.S. dollars was the spot rate at the settlement date. (2) We utilized the proceeds from these issuances to redeem $1.7 billion of senior notes assumed in the Liberty Transaction, as discussed above, and our €700.0 million ($783.1 million)
Long-Term Debt Maturities	Scheduled principal payments due on our debt for the remainder of 2020 and for each year through the period ended December 31, 2024, and thereafter were as follows at March 31, 2020 (in thousands): Unsecured Credit Senior Term Loans Secured Maturity Facilities Notes and Other Mortgage Total 2020 (1) $ - $ - $ 10,785 $ 19,109 $ 29,894 2021 (1)(2)(3) 52,522 - 500,000 30,895 583,417 2022 - 931,260 - 11,745 943,005 2023 - 850,000 119,617 33,719 1,003,336 2024 - 766,920 - 262,138 1,029,058 Thereafter - 10,528,222 1,308,454 289,832 12,126,508 Subtotal 52,522 13,076,402 1,938,856 647,438 15,715,218 Unamortized net premiums - 26,219 - 2,864 29,083 Unamortized debt issuance costs - (57,540 ) (7,901 ) (2,268 ) (67,709 ) Total $ 52,522 $ 13,045,081 $ 1,930,955 $ 648,034 $ 15,676,592 (1) We expect to repay the amounts maturing in the next twelve months with cash generated from operations, proceeds from dispositions of real estate properties, or as necessary, with borrowings on our Credit Facilities. (2) Included in the 2021 maturities is the 2017 Term Loan that can be extended until 2022. (3) Included in the 2021 maturities is the Revolver that can be extended until 2022.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 2020
Noncontrolling Interest [Abstract]
Summary of Ownership Percentages and Noncontrolling Interests	The following table summarizes our ownership percentages and noncontrolling interests and the consolidated entities’ total assets and liabilities (dollars in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities Mar 31, 2020 Dec 31, 2019 Mar 31, 2020 Dec 31, 2019 Mar 31, 2020 Dec 31, 2019 Mar 31, 2020 Dec 31, 2019 Prologis U.S. Logistics Venture (1) 55.0 % 55.0 % $ 3,493,533 $ 2,677,846 $ 7,879,419 $ 6,077,016 $ 123,772 $ 99,397 Other consolidated entities (2) various various 98,453 97,548 1,004,525 849,620 79,221 85,186 Prologis, L.P. 3,591,986 2,775,394 8,883,944 6,926,636 202,993 184,583 Limited partners in Prologis, L.P. (3)(4) 924,442 643,263 - - - - Prologis, Inc. $ 4,516,428 $ 3,418,657 $ 8,883,944 $ 6,926,636 $ 202,993 $ 184,583 (1) As discussed in Note 3, in January 2020, USLV acquired a portfolio of 127 operating properties, aggregating 19.0 million square feet, in the IPT Transaction for $2.0 billion, including transaction costs and the assumption and repayment of debt . ( 2) 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 March 31, 2020 and December 31, 2019 were exchangeable into cash or, at our option, ( 3 ) We had 8.6 million Class A Units that were convertible into 8.1 million limited partnership units of the OP at March 31, 2020 and December 31, 2019. ( 4 ) At March 31, 2020 and December 31, 2019, excluding the Class A Units, there were limited partnership units in the OP that were exchangeable into cash or, at our option, 8.5 million and 6.2 million shares of the Parent’s common stock, respectively.

Long-Term Compensation (Tables)

Long-Term Compensation (Tables)	3 Months Ended
	Mar. 31, 2020
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 three months ended March 31, 2020 (units in thousands): Weighted Average Unvested RSUs Grant Date Fair Value Balance at January 1, 2020 1,165 $ 68.44 Granted 362 93.17 Vested and distributed (437 ) 61.74 Forfeited (23 ) 73.64 Balance at March 31, 2020 1,067 $ 77.68
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 three months ended March 31, 2020 (units in thousands): Vested Unvested Unvested Weighted Average LTIP Units LTIP Units Grant Date Fair Value Balance at January 1, 2020 3,714 2,678 $ 60.06 Granted - 658 93.23 Vested LTIP Units 888 (888 ) 64.12 Vested POP LTIP Units (1) 303 - N/A Unvested POP LTIP Units (1) - 345 19.03 Conversion to common limited partnership units (201 ) - N/A Balance at March 31, 2020 4,704 2,793 $ 61.44 (1) Vested and unvested units were based on the POP performance criteria being met for the 2017 – 2019 performance period and represented the earned award amounts. Vested and unvested units are included in the award discussion above. These amounts also include awards earned for prior performance periods related to the compensation pool in excess of the initial award.

Earnings Per Common Share or _2

Earnings Per Common Share or Unit (Tables)	3 Months Ended
	Mar. 31, 2020
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 was as follows (in thousands, except per share and unit amounts): Three Months Ended March 31, Prologis, Inc. 2020 2019 Net earnings attributable to common stockholders – Basic $ 489,418 $ 347,047 Net earnings attributable to exchangeable limited partnership units (1) 14,049 10,657 Adjusted net earnings attributable to common stockholders – Diluted $ 503,467 $ 357,704 Weighted average common shares outstanding – Basic 698,272 629,676 Incremental weighted average effect on exchange of limited partnership units (1) 20,230 19,718 Incremental weighted average effect of equity awards 5,481 4,965 Weighted average common shares outstanding – Diluted (2) 723,983 654,359 Net earnings per share attributable to common stockholders: Basic $ 0.70 $ 0.55 Diluted $ 0.70 $ 0.55 Three Months Ended March 31, Prologis, L.P. 2020 2019 Net earnings attributable to common unitholders $ 503,388 $ 357,621 Net earnings attributable to Class A Units (5,651 ) (4,606 ) Net earnings attributable to common unitholders – Basic 497,737 353,015 Net earnings attributable to Class A Units 5,651 4,606 Net earnings attributable to exchangeable other limited partnership units 79 83 Adjusted net earnings attributable to common unitholders – Diluted $ 503,467 $ 357,704 Weighted average common partnership units outstanding – Basic 710,141 640,504 Incremental weighted average effect on exchange of Class A Units 8,062 8,356 Incremental weighted average effect on exchange of other limited partnership units 299 534 Incremental weighted average effect of equity awards of Prologis, Inc. 5,481 4,965 Weighted average common units outstanding – Diluted (2) 723,983 654,359 Net earnings per unit attributable to common unitholders: Basic $ 0.70 $ 0.55 Diluted $ 0.70 $ 0.55 (1) The exchangeable limited partnership units include the units as discussed in Note 8. 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 consisted of the following: Three Months Ended March 31, 2020 2019 Class A Units 8,062 8,356 Other limited partnership units 299 534 Equity awards 7,709 7,673 Prologis, L.P. 16,070 16,563 Common limited partnership units 11,869 10,828 Prologis, Inc. 27,939 27,391

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2020
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 March 31, 2020 December 31, 2019 Asset Liability Asset Liability Undesignated derivatives Foreign currency contracts Forwards Brazilian real $ 1,861 $ - $ 181 $ 49 British pound sterling 11,333 33 731 3,823 Canadian dollar 7,070 - 523 1,855 Chinese renminbi 3 23 - 81 Euro 13,765 5 7,135 2,034 Japanese yen 6,133 1 3,889 97 Swedish krona 1,638 - - 797 Designated derivatives Foreign currency contracts Net investment hedges British pound sterling 10,141 1,432 807 13,189 Canadian dollar 5,590 - - 1,926 Interest rate swaps Cash flow hedges Euro 106 - - - Total fair value of derivatives $ 57,640 $ 1,494 $ 13,266 $ 23,851
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 in Foreign Currency and Derivative Gains, Net Three Months Ended March 31, 2020 2019 Exercised contracts 33 23 Realized gains on the matured, expired or settled contracts $ 4 $ 1 Unrealized gains on the change in fair value of outstanding contracts $ 47 $ 7
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 three months ended March 31 (in millions): 2020 2019 EUR USD EUR Notional amounts at January 1 ($) - - 500 New contracts ($) (1)(2) 165 750 - Matured, expired or settled contracts ($) (2) - (750 ) - Notional amounts at March 31 ($) 165 - 500 (1) During the first quarter of 2020, we entered into one interest rate swap contract with an aggregate notional amount of €150.0 million ($165.0 million) to effectively fix the interest rate on our senior notes bearing a floating rate of Euribor plus 0.3% issued in February 2020. (2) During the first quarter of 2020, we entered into four treasury lock contracts with an aggregate notional amount of $750.0 million to effectively fix the interest rate on the forecasted issuance of senior notes, which were then issued in February 2020. Subsequent to issuance, we recorded a loss of $16.8 million associated with these derivatives that will be amortized out of A ccumulated Other Comprehensive Income/Loss Interest Expense
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 (in millions): March 31, 2020 December 31, 2019 British pound sterling $ 633 $ 329 Euro $ - $ 850
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 recognized unrealized gains in Foreign Currency and Derivative Gains, Net 2020 Unrealized gains on the unhedged portion $ 82
Summary of Changes in Other Comprehensive Income (Loss)	The following table presents these changes in Other Comprehensive Income (Loss) Three Months Ended March 31, 2020 2019 Derivative net investment hedges $ 25,359 $ (19,452 ) Debt designated as nonderivative net investment hedges 32,750 63,657 Cumulative translation adjustment (191,642 ) 15,875 Total foreign currency translation gains (losses), net $ (133,533 ) $ 60,080 Cash flow hedges (1) (2) $ (15,525 ) $ 1,105 Our share of derivatives from unconsolidated co-investment ventures (7,923 ) (3,738 ) Total unrealized losses on derivative contracts, net $ (23,448 ) $ (2,633 ) Total change in other comprehensive income (loss) $ (156,981 ) $ 57,447 (1) We estimate an additional expense of $5.7 million will be reclassified to Interest Expense (2) Included in the three months ended March 31, 2020 was $16.8 million in losses associated with the termination of the four treasury lock contracts.
Carrying Amounts and Estimated Fair Values of Debt	The following table reflects the carrying amounts and estimated fair values of our debt (in thousands): March 31, 2020 December 31, 2019 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 52,522 $ 52,522 $ 184,255 $ 184,255 Senior notes 13,045,081 12,693,738 9,660,570 10,228,715 Term loans and unsecured other 1,930,955 1,953,500 1,441,882 1,463,841 Secured mortgage 648,034 682,740 619,170 651,047 Total $ 15,676,592 $ 15,382,500 $ 11,905,877 $ 12,527,858
Undesignated Derivatives [Member]
Foreign Currency Contracts Activity	The following table summarizes the activity of our undesignated foreign currency contracts for the three months ended March 31 (in millions, except for weighted average forward rates and number of active contracts): 2020 2019 CAD EUR GBP JPY SEK Other Total BRL CAD EUR GBP JPY Total Notional amounts at January 1 ($) 120 581 178 182 31 15 1,107 5 55 314 118 177 669 New contracts ($) - 809 294 60 9 19 1,191 489 - - 112 - 601 Matured, expired or settled contracts ($) (11 ) (1,003 ) (267 ) (15 ) (3 ) (23 ) (1,322 ) (494 ) (9 ) (35 ) (21 ) (20 ) (579 ) Notional amounts at March 31 ($) 109 387 205 227 37 11 976 - 46 279 209 157 691 Weighted average forward rate at March 31 1.32 1.16 1.77 103.08 9.41 - 1.28 1.21 1.22 104.86 Active contracts at March 31 35 61 64 53 32 - 20 29 22 30
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 three months ended March 31 2020 2019 CAD GBP Total BRL CAD GBP Total Notional amounts at January 1 ($) 97 387 484 460 100 127 687 New contracts ($) - 324 324 489 - 262 751 Matured, expired or settled contracts ($) - (576 ) (576 ) (949 ) - - (949 ) Notional amounts at March 31 ($) 97 135 232 - 100 389 489 Weighted average forward rate at March 31 1.32 1.35 - 1.28 1.30 Active contracts at March 31 2 1 - 2 6

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Segment Reporting, Reconciliation of Revenues, Operating Income and Assets	The following reconciliations are presented in thousands: Three Months Ended March 31, 2020 2019 Revenues: Real estate operations segment: U.S. $ 829,383 $ 651,869 Other Americas 26,079 23,865 Europe 15,502 8,557 Asia 10,686 13,956 Total real estate operations segment 881,650 698,247 Strategic capital segment: U.S. 34,342 20,268 Other Americas 9,111 7,900 Europe 32,590 28,838 Asia 20,548 16,799 Total strategic capital segment 96,591 73,805 Total revenues 978,241 772,052 Segment net operating income: Real estate operations segment: U.S. (1) 602,604 471,076 Other Americas 19,456 19,053 Europe 10,155 5,544 Asia 7,243 10,672 Total real estate operations segment 639,458 506,345 Strategic capital segment: U.S. (1) 13,624 3,327 Other Americas 5,179 5,422 Europe 20,594 19,151 Asia 10,620 7,847 Total strategic capital segment 50,017 35,747 Total segment net operating income 689,475 542,092 Reconciling items: General and administrative expenses (69,689 ) (69,701 ) Depreciation and amortization expenses (345,970 ) (284,009 ) Gains on dispositions of development properties and land, net 162,750 42,441 Gains on other dispositions of investments in real estate, net 31,491 145,767 Operating income 468,057 376,590 Earnings from unconsolidated entities, net 88,730 56,666 Interest expense (75,642 ) (60,507 ) Interest and other income, net 370 7,910 Foreign currency and derivative gains, net 113,329 8,734 Losses on early extinguishment of debt, net (42,767 ) (2,116 ) Earnings before income taxes $ 552,077 $ 387,277 March 31, 2020 December 31, 2019 Segment assets: Real estate operations segment: U.S. $ 41,487,331 $ 27,999,868 Other Americas 1,286,433 1,332,237 Europe 1,474,343 1,379,579 Asia 706,421 879,072 Total real estate operations segment 44,954,528 31,590,756 Strategic capital segment: (2) U.S. 14,211 14,529 Europe 25,280 25,280 Asia 353 359 Total strategic capital segment 39,844 40,168 Total segment assets 44,994,372 31,630,924 Reconciling items: Investments in and advances to unconsolidated entities 6,834,758 6,237,371 Assets held for sale or contribution 1,975,524 720,685 Lease right-of-use assets 115,270 111,439 Cash and cash equivalents 807,871 1,088,855 Other assets 279,452 242,576 Total reconciling items 10,012,875 8,400,926 Total assets $ 55,007,247 $ 40,031,850 (1) This includes compensation, personnel costs and Prologis Promote Plan 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 million at March 31, 2020 and December 31, 2019.

General - Additional Informatio

General - Additional Information (Detail) shares in Millions, $ in Millions	Apr. 27, 2020USD ($)	Mar. 31, 2020Segmentshares
General [Line Items]
Number of reportable segments | Segment		2
Subsequent Event [Member]
General [Line Items]
Rent deferrals granted | $	$ 8.6
Rent deferrals granted, average period of rent deferred per customer	30 days
Unaffiliated Investors and Certain Current and Former Directors and Officers [Member]
General [Line Items]
Percentage of common limited partnership interest		2.79%
General Partner | Prologis Limited Partnership [Member]
General [Line Items]
Percentage of ownership in operating partnership		97.21%
Preferred [Member] | Prologis Limited Partnership [Member]
General [Line Items]
Percentage of ownership in operating partnership		100.00%
Class A Common [Member]
General [Line Items]
Class of common limited partnership units designated as class A common units | shares		8.6

Liberty Transaction - Additiona

Liberty Transaction - Additional Information (Detail) - Liberty Transaction [Member] ft² in Millions, $ in Millions	Feb. 04, 2020USD ($)ft²PropertyVenture
Business Acquisition [Line Items]
Business acquisition, date of acquisition agreement	Feb. 4, 2020
Business acquisition consideration transferred	$ 13,000
Fair value of Prologis shares and units issued	10,015
Business acquisition, assumption of debt	$ 2,800
Business acquisition stock conversion ratio	0.675
Number of operating properties acquired | Property	519
Square feet of properties | ft²	99.6
Non-Strategic Industrial Properties [Member]
Business Acquisition [Line Items]
Square feet of properties | ft²	34
Other Ventures [Member]
Business Acquisition [Line Items]
Number of ventures that own industrial and office properties in which ownership interest is acquired | Venture	8

Liberty Transaction - Schedule

Liberty Transaction - Schedule of Aggregate Equity Consideration (Detail) - Liberty Transaction [Member] $ / shares in Units, shares in Thousands, $ in Millions	Feb. 04, 2020USD ($)$ / sharesshares
Business Acquisition [Line Items]
Number of Prologis shares and units issued upon conversion of Liberty shares and units at February 4, 2020 | shares	109,010
Multiplied by closing price of Prologis' common stock on February 3, 2020 | $ / shares	$ 91.87
Fair value of Prologis shares and units issued | $	$ 10,015

Real Estate - Investments in Re

Real Estate - Investments in Real Estate Properties (Detail) ft² in Thousands, $ in Thousands	Mar. 31, 2020USD ($)ft²aBuilding	Dec. 31, 2019USD ($)ft²aBuilding
Real Estate Properties [Line Items]
Total investments in real estate properties	$ 48,112,299	$ 35,224,414
Less accumulated depreciation	5,662,351	5,437,662
Net investments in real estate properties	42,449,948	29,786,752
Improved Land [Member]
Real Estate Properties [Line Items]
Total investments in real estate properties	$ 11,957,756	$ 8,220,208
Building and Improvements [Member]
Real Estate Properties [Line Items]
Square feet of properties | ft²	439,507	354,297
Number of buildings | Building	2,260	1,876
Total investments in real estate properties	$ 30,471,635	$ 23,067,625
Development Portfolio, Including Cost of Land: Pre-stabilized [Member]
Real Estate Properties [Line Items]
Square feet of properties | ft²	6,622	9,133
Number of buildings | Building	24	28
Total investments in real estate properties	$ 510,338	$ 784,584
Properties Under Development [Member]
Real Estate Properties [Line Items]
Square feet of properties | ft²	27,617	26,893
Number of buildings | Building	71	77
Total investments in real estate properties	$ 1,326,456	$ 1,084,683
Land [Member]
Real Estate Properties [Line Items]
Square feet of properties | a	5,870	4,411
Total investments in real estate properties	$ 1,463,982	$ 1,101,646
Other Real Estate Investments [Member]
Real Estate Properties [Line Items]
Total investments in real estate properties	$ 2,382,132	$ 965,668

Real Estate - Investments in _2

Real Estate - Investments in Real Estate Properties (Parenthetical) (Detail) - a	Mar. 31, 2020	Dec. 31, 2019
Land [Member]
Real Estate Properties [Line Items]
Square feet of properties	5,870	4,411

Real Estate - Summary of Acquis

Real Estate - Summary of Acquisition (Detail) ft² in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)ft²aProperty	Mar. 31, 2019USD ($)ft²aProperty
Business Acquisition [Line Items]
Number of operating properties | Property	137	12
Square feet | ft²	20,256	967
Acquisition cost of net investments in real estate | $	$ 2,393,767	$ 312,252
Acquisitions of Properties from Third Parties [Member] | Land [Member]
Business Acquisition [Line Items]
Acres of land | a	267	188

Real Estate - Summary of Acqu_2

Real Estate - Summary of Acquisition (Parenthetical) (Detail) - USD ($)	Jan. 08, 2020	Mar. 31, 2020	Mar. 31, 2019
Business Acquisition [Line Items]
Real estate acquisitions		$ 439,059,000	$ 274,528,000
Acquisition cost of properties		2,393,767,000	312,252,000
Other Real Estate Investment
Business Acquisition [Line Items]
Acquisition cost of properties		$ 86,800,000	$ 0
Industrial Property Trust, Inc. [Member] | Prologis Targeted U.S. Logistics Fund, L.P. (“USLF”) and Prologis U.S. Logistics Venture (“USLV”) [Member]
Business Acquisition [Line Items]
Real estate acquisitions	$ 2,000,000,000

Real Estate - Summary of Dispos

Real Estate - Summary of Dispositions of Net Investments in Real Estate (Detail) ft² in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)ft²Property	Mar. 31, 2019USD ($)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	$ 31,491	$ 145,767
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	$ 162,750	$ 42,441
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	9	5
Square feet | ft²	3,524	1,212
Net proceeds	$ 554,343	$ 124,322
Gains on contributions, dispositions, or redemptions, net	$ 144,745	$ 30,833
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	2	2
Square feet | ft²	1,112	670
Net proceeds	$ 79,220	$ 52,024
Gains on contributions, dispositions, or redemptions, net	$ 18,005	$ 11,608
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	18	14
Square feet | ft²	2,305	6,937
Net proceeds	$ 160,557	$ 619,843
Gains on contributions, dispositions, or redemptions, net	31,491	10,745
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, or redemptions, net	$ 0	$ 135,022

Real Estate - Summary of Disp_2

Real Estate - Summary of Dispositions of Net Investments in Real Estate (Parenthetical) (Detail) - Unconsolidated Co-Investment Ventures [Member] ft² in Millions	1 Months Ended
	Jan. 31, 2019ft²aProperty	Mar. 31, 2020Property	Dec. 31, 2019Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of operating properties contributed		1,799	1,694
Prologis Brazil Logistics Venture [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of operating properties contributed	14
Square feet | ft²	6.9
Ownership percentage in property fund	20.00%	20.00%
Prologis Brazil Logistics Venture [Member] | Land [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Square feet | a	371

Unconsolidated Entities - Summa

Unconsolidated Entities - Summary of Investments in and Advances to our Unconsolidated Entities (Detail) - USD ($) $ in Thousands		Mar. 31, 2020	Dec. 31, 2019
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities		$ 6,834,758	$ 6,237,371
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities		5,910,369	5,873,784
Other Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	[1]	$ 924,389	$ 363,587
[1]	In February 2020, we completed the Liberty Transaction and acquired an equity method investment in eight ventures

Unconsolidated Entities - Sum_2

Unconsolidated Entities - Summary of Investments in and Advances to our Unconsolidated Entities (Parenthetical) (Detail)	Feb. 04, 2020Venture
Other Ventures [Member] | Liberty Transaction [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures	8

Unconsolidated Entities - Sum_3

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		3 Months Ended
		Mar. 31, 2020	Mar. 31, 2019
Schedule Of Equity Method Investments [Line Items]
Recurring fees		$ 74,687	$ 62,117
Transactional fees		19,960	11,348
Promote revenue		591	0
Total strategic capital revenues from unconsolidated co-investment ventures	[1]	$ 95,238	$ 73,465
[1]	These amounts exclude strategic capital revenues from other ventures.

Unconsolidated Entities - Sum_4

Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Detail) $ in Thousands, ft² in Millions		3 Months Ended
		Mar. 31, 2020USD ($)ft²PropertyVenture		Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)ft²PropertyVenture
Schedule Of Equity Method Investments [Line Items]
Our earnings from unconsolidated co-investment ventures, net		$ 88,730		$ 56,666
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		9			9
Number of buildings | Property		1,799			1,694
Square feet | ft²		398			378
Total assets		$ 36,852,000			$ 34,550,000
Third-party debt		10,393,000			9,408,000
Total liabilities		12,661,000			11,641,000
Our investment balance	[1]	5,910,000			$ 5,874,000
Total revenues		729,000		637,000
Net earnings		161,000		171,000
Our earnings from unconsolidated co-investment ventures, net		$ 47,000		53,000
Unconsolidated Co-Investment Ventures [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		1	[2]		1
Number of buildings | Property		689	[2]		605
Square feet | ft²		112	[2]		99
Total assets		$ 10,301,000	[2]		$ 8,408,000
Third-party debt		2,925,000	[2]		2,130,000
Total liabilities		3,371,000	[2]		2,514,000
Our investment balance	[1]	1,720,000	[2]		$ 1,728,000
Total revenues		233,000	[2]	179,000
Net earnings		34,000	[2]	29,000
Our earnings from unconsolidated co-investment ventures, net		$ 9,000	[2]	9,000
Unconsolidated Co-Investment Ventures [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		2	[3]		2
Number of buildings | Property		214	[3]		214
Square feet | ft²		45	[3]		44
Total assets		$ 2,871,000	[3]		$ 2,707,000
Third-party debt		770,000	[3]		769,000
Total liabilities		807,000	[3]		801,000
Our investment balance	[1]	791,000	[3]		$ 658,000
Total revenues		68,000	[3]	67,000
Net earnings		23,000	[3]	34,000
Our earnings from unconsolidated co-investment ventures, net		$ 9,000	[3]	13,000
Unconsolidated Co-Investment Ventures [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		3			3
Number of buildings | Property		745			731
Square feet | ft²		178			176
Total assets		$ 14,444,000			$ 14,677,000
Third-party debt		3,148,000			3,213,000
Total liabilities		4,491,000			4,575,000
Our investment balance	[1]	2,678,000			$ 2,800,000
Total revenues		290,000		271,000
Net earnings		78,000		71,000
Our earnings from unconsolidated co-investment ventures, net		$ 25,000		25,000
Unconsolidated Co-Investment Ventures [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		3			3
Number of buildings | Property		151			144
Square feet | ft²		63			59
Total assets		$ 9,236,000			$ 8,758,000
Third-party debt		3,550,000			3,296,000
Total liabilities		3,992,000			3,751,000
Our investment balance	[1]	721,000			$ 688,000
Total revenues		138,000		120,000
Net earnings		26,000		37,000
Our earnings from unconsolidated co-investment ventures, net		$ 4,000		$ 6,000
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	25.80%			27.10%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	24.80%	[2]		27.30%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	40.80%	[3]		39.10%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	30.00%			30.20%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	15.20%			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 March 31, 2020 and December 31, 2019, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018; (ii) recording additional costs associated with our investment in the venture; (iii) receivables, principally for fees and promotes ($94.7 million and $152.0 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to Nippon Prologis REIT, Inc.
[2]	In January 2020, USLF acquired a portfolio of 108 operating properties, aggregating 18.3 million square feet, in the IPT Transaction for cash consideration of $2.0 billion, including transaction costs and the assumption and repayment of debt.
[3]	PBLV and our other Brazilian joint ventures are combined as one venture for the purpose of this table.
[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_5

Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Parenthetical) (Detail) $ in Thousands, ft² in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2020USD ($)ft²Property	Mar. 31, 2020USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Schedule Of Equity Method Investments [Line Items]
Real estate acquisitions		$ 439,059	$ 274,528
Receivables from unconsolidated co-investment ventures		$ 94,700		$ 152,000
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
Real estate acquisitions	$ 2,000,000

Unconsolidated Entities - Addit

Unconsolidated Entities - Additional Information (Detail) - Prologis, Inc. [Member] $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 366.7
Expiration date for remaining commitments range start	2020
Expiration date for remaining commitments range end	2026

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	Mar. 31, 2020USD ($)ft²Property	Dec. 31, 2019USD ($)ft²Property
Long Lived Assets Held For Sale [Line Items]
Total assets held for sale or contribution	$ 1,975,524	$ 720,685
Total liabilities associated with assets held for sale or contribution – included in Other Liabilities	$ 46,515	$ 41,994
Disposal Group Held for Sale Not Discontinued Operations [Member]
Long Lived Assets Held For Sale [Line Items]
Number of operating properties | Property	161	28
Square feet | ft²	24,935	9,371

Debt - Debt Summary (Detail)

Debt - Debt Summary (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.20%	2.20%
Debt	$ 15,676,592	$ 11,905,877
Credit Facilities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	0.40%	0.40%
Debt	$ 52,522	$ 184,255
Senior Notes [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.30%	2.40%
Debt	$ 13,045,081	$ 9,660,570
Term Loans and Unsecured Other [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.10%	0.90%
Debt	$ 1,930,955	$ 1,441,882
Secured Mortgage [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.70%	3.40%
Debt	$ 648,034	$ 619,170

Debt - Debt Summary (Parentheti

Debt - Debt Summary (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt	$ 15,676,592	$ 11,905,877
Senior Notes [Member]
Debt Instrument [Line Items]
Debt	13,045,081	9,660,570
Secured Mortgage [Member]
Debt Instrument [Line Items]
Debt	648,034	619,170
Liberty Transaction [Member]
Debt Instrument [Line Items]
Repayments of debt	$ 1,800,000
Liberty Transaction [Member] | Weighted Average [Member]
Debt Instrument [Line Items]
Stated interest rate	3.80%
Liberty Transaction [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt	$ 2,500,000
Liberty Transaction [Member] | Secured Mortgage [Member]
Debt Instrument [Line Items]
Debt	246,900
Liberty Transaction [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Debt	100,100
Industrial Property Trust Inc Transaction [Member] | Secured Mortgage [Member] | Prologis U S Logistics Venture
Debt Instrument [Line Items]
Debt	341,800
GBP
Debt Instrument [Line Items]
Debt	$ 1,085,836	$ 656,549
Percentage of outstanding debt	6.90%	5.50%
CAD
Debt Instrument [Line Items]
Debt	$ 255,073	$ 279,730
Percentage of outstanding debt	1.60%	2.30%
EUR
Debt Instrument [Line Items]
Debt	$ 6,236,824	$ 6,128,986
Percentage of outstanding debt	39.80%	51.50%
JPY
Debt Instrument [Line Items]
Debt	$ 2,078,927	$ 2,329,381
Percentage of outstanding debt	13.30%	19.60%
USD
Debt Instrument [Line Items]
Debt	$ 6,019,932	$ 2,511,231
Percentage of outstanding debt	38.40%	21.10%

Debt - Additional Information (

Debt - Additional Information (Detail) € in Thousands, $ in Thousands, ¥ in Billions	Feb. 29, 2020USD ($)Integer	Mar. 31, 2020USD ($)	Mar. 31, 2020EUR (€)	Oct. 31, 2018	Aug. 31, 2018	Jul. 31, 2018	Mar. 31, 2020USD ($)	Mar. 31, 2020EUR (€)	Mar. 31, 2019USD ($)	Mar. 31, 2020JPY (¥)	Mar. 31, 2020EUR (€)	Dec. 31, 2019USD ($)	Jan. 31, 2019USD ($)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity		$ 3,923,000					$ 3,923,000
Losses on early extinguishment of debt, net							42,767		$ 2,116
Debt		15,676,592					15,676,592					$ 11,905,877
EUR
Debt Instrument [Line Items]
Debt		6,236,824					$ 6,236,824					6,128,986
Prologis Euro Finance LLC [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%
2017 Term Loan [Member]
Debt Instrument [Line Items]
Debt Instrument maturity date							2021-05	2021-05
Debt instrument possible extended maturity year							2022	2022
Debt borrowed, net							$ 500,000
Repayment of debt									$ 500,000
May 2021 Senior Notes [Member] | EUR
Debt Instrument [Line Items]
Debt Instrument maturity date							2021-05	2021-05
Debt instrument, face amount		$ 783,090					$ 783,090				€ 700,000
Stated interest rate		1.40%					1.40%			1.40%	1.40%
Redemption of senior notes		$ 783,100	€ 700,000				$ 783,100	€ 700,000
Senior Notes [Member]
Debt Instrument [Line Items]
Debt		13,045,081					13,045,081					9,660,570
Term Loans and Unsecured Other [Member]
Debt Instrument [Line Items]
Debt		1,930,955					1,930,955					$ 1,441,882
Liberty Transaction [Member]
Debt Instrument [Line Items]
Number of series of Senior Notes exchanged | Integer	2
Debt instrument, face amount	$ 750,000
Debt instrument, validly rendered for exchange amount	$ 689,800
Percentage of aggregate principal amount	92.00%
Liberty Transaction [Member] | October 2026 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument maturity date	2026-10
Debt instrument, face amount	$ 400,000
Stated interest rate	3.30%
Liberty Transaction [Member] | February 2029 Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument maturity date	2029-02
Debt instrument, face amount	$ 350,000
Stated interest rate	4.40%
Liberty Transaction [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt		2,500,000					$ 2,500,000
Global Facility [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity													$ 3,500,000
Ability to increase borrowing capacity subject to currency fluctuations and obtaining additional lender commitments													$ 4,500,000
Debt Instrument maturity date							2023-01	2023-01
Revolver [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity		598,900					$ 598,900			¥ 65
Debt Instrument maturity date							2021-02	2021-02
Credit facility current borrowing capacity		$ 460,700					$ 460,700			¥ 50

Debt - Credit Facilities (Detai

Debt - Credit Facilities (Detail) $ in Millions	Mar. 31, 2020USD ($)
Debt Disclosure [Abstract]
Aggregate lender commitments	$ 3,923
Borrowings outstanding	53
Outstanding letters of credit	40
Current availability	$ 3,830

Debt - Summary of Issuances and

Debt - Summary of Issuances and Redemptions of Senior Notes (Detail) € in Thousands, £ in Thousands, $ in Thousands	1 Months Ended	3 Months Ended
	Jan. 31, 2020USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2020EUR (€)	Mar. 31, 2020GBP (£)	Jan. 31, 2020EUR (€)
February 2022 – 2035 Senior Notes [Member] | EUR
Debt Instrument [Line Items]
Aggregate Principal		$ 1,485,405	€ 1,350,000
Maturity Dates		2022-02
Maturity Dates		2035-02
February 2022 – 2035 Senior Notes [Member] | EUR | Weighted Average [Member]
Debt Instrument [Line Items]
Stated Interest Rate		0.80%	0.80%	0.80%
April 2027 – 2050 Senior Notes [Member] | USD
Debt Instrument [Line Items]
Aggregate Principal		$ 2,200,000
Maturity Dates		2027-04
Maturity Dates		2050-04
April 2027 – 2050 Senior Notes [Member] | USD | Weighted Average [Member]
Debt Instrument [Line Items]
Stated Interest Rate		2.60%	2.60%	2.60%
February 2035 Senior Notes [Member] | GBP
Debt Instrument [Line Items]
Aggregate Principal		$ 322,490		£ 250,000
Maturity Dates		2035-02
February 2035 Senior Notes [Member] | GBP | Weighted Average [Member]
Debt Instrument [Line Items]
Stated Interest Rate		1.90%	1.90%	1.90%
January 2020 Senior Notes [Member] | EUR
Debt Instrument [Line Items]
Aggregate Principal	$ 445,880				€ 400,000
Maturity Dates	2020-01
January 2020 Senior Notes [Member] | EUR | Euribor [Member]
Debt Instrument [Line Items]
Stated Interest Rate, applicable margin	0.30%
May 2021 Senior Notes [Member] | EUR
Debt Instrument [Line Items]
Stated Interest Rate		1.40%	1.40%	1.40%
Aggregate Principal		$ 783,090	€ 700,000
Maturity Dates		2021-05

Debt - Summary of Issuances a_2

Debt - Summary of Issuances and Redemptions of Senior Notes (Parenthetical) (Detail) € in Millions, $ in Millions	1 Months Ended		3 Months Ended
	Mar. 31, 2020USD ($)	Mar. 31, 2020EUR (€)	Mar. 31, 2020USD ($)	Mar. 31, 2020EUR (€)
May 2021 Senior Notes [Member] | EUR
Debt Instrument [Line Items]
Repayments of Senior Debt	$ 783.1	€ 700	$ 783.1	€ 700
Debt Instrument maturity date			2021-05	2021-05
Liberty Transaction [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Repayments of assumed debt			$ 1,700

Debt - Long-Term Debt Maturitie

Debt - Long-Term Debt Maturities (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
2020	$ 29,894
2021	583,417
2022	943,005
2023	1,003,336
2024	1,029,058
Thereafter	12,126,508
Subtotal	15,715,218
Unamortized net premiums	29,083
Unamortized debt issuance costs	(67,709)
Total	15,676,592	$ 11,905,877
Credit Facilities [Member]
Debt Instrument [Line Items]
2020	0
2021	52,522
2022	0
2023	0
2024	0
Thereafter	0
Subtotal	52,522
Unamortized net premiums	0
Unamortized debt issuance costs	0
Total	52,522	184,255
Senior Notes [Member]
Debt Instrument [Line Items]
2020	0
2021	0
2022	931,260
2023	850,000
2024	766,920
Thereafter	10,528,222
Subtotal	13,076,402
Unamortized net premiums	26,219
Unamortized debt issuance costs	(57,540)
Total	13,045,081	9,660,570
Term Loans And Other Debt [Member]
Debt Instrument [Line Items]
2020	10,785
2021	500,000
2022	0
2023	119,617
2024	0
Thereafter	1,308,454
Subtotal	1,938,856
Unamortized net premiums	0
Unamortized debt issuance costs	(7,901)
Total	1,930,955	1,441,882
Secured Mortgages [Member]
Debt Instrument [Line Items]
2020	19,109
2021	30,895
2022	11,745
2023	33,719
2024	262,138
Thereafter	289,832
Subtotal	647,438
Unamortized net premiums	2,864
Unamortized debt issuance costs	(2,268)
Total	$ 648,034	$ 619,170

Stockholders' Equity of Prolo_2

Stockholders' Equity of Prologis Inc. - Additional Information (Detail) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)$ / sharesshares
Shareholders Equity [Line Items]
Aggregate price of shares repurchased and retired | $	$ 34,829
Common Stock [Member]
Shareholders Equity [Line Items]
Repurchase and retire of common stock shares | shares	539,000
Aggregate price of shares repurchased and retired | $	$ 5
Weighted average purchase price | $ / shares	$ 64.66
Common Stock [Member] | Maximum [Member]
Shareholders Equity [Line Items]
Aggregate purchase price of common stock | shares	1,000,000,000

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020
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		3 Months Ended	12 Months Ended
		Mar. 31, 2020	Dec. 31, 2019
Noncontrolling Interest [Line Items]
Operating Partnership noncontrolling interest		$ 3,591,986	$ 2,775,394
Noncontrolling interests		4,516,428	3,418,657
Total Assets		55,007,247	40,031,850
Total Liabilities		18,231,377	13,960,066
Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Total Assets		8,883,944	6,926,636
Total Liabilities		$ 202,993	$ 184,583
Prologis U S Logistics Venture
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage	[1]	55.00%	55.00%
Operating Partnership noncontrolling interest	[1]	$ 3,493,533	$ 2,677,846
Total Assets	[1]	7,879,419	6,077,016
Total Liabilities	[1]	$ 123,772	$ 99,397
Other Consolidated Entities [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership	[2]	various	various
Operating Partnership noncontrolling interest	[2]	$ 98,453	$ 97,548
Total Assets	[2]	1,004,525	849,620
Total Liabilities	[2]	79,221	85,186
Prologis, L.P. [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		3,591,986	2,775,394
Total Assets		55,007,247	40,031,850
Total Liabilities		18,231,377	13,960,066
Prologis, L.P. [Member] | Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Limited partners in Prologis, L.P.	[3],[4]	924,442	643,263
Total Assets	[3],[4]	0	0
Total Liabilities	[3],[4]	0	0
Prologis, Inc. [Member]
Noncontrolling Interest [Line Items]
Total Assets		8,883,944	6,926,636
Total Liabilities		202,993	184,583
Prologis, Inc. [Member] | Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		$ 4,516,428	$ 3,418,657
[1]	As discussed in Note 3, in January 2020, USLV acquired a portfolio of 127 operating properties, aggregating 19.0 million square feet, in the IPT Transaction for $2.0 billion, including transaction costs and the assumption and repayment of debt .
[2]	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 March 31, 2020 and December 31, 2019 were exchangeable into cash or, at our option,
[3]	We had 8.6 million Class A Units that were convertible into 8.1 million limited partnership units of the OP at March 31, 2020 and December 31, 2019.
[4]	At March 31, 2020 and December 31, 2019, excluding the Class A Units, there were limited partnership units in the OP that were exchangeable into cash or, at our option, 8.5 million and 6.2 million shares of the Parent’s common stock, respectively.

Noncontrolling Interests - No_2

Noncontrolling Interests - Noncontrolling Interest Summary (Parenthetical) (Detail) shares in Thousands, ft² in Millions, $ in Billions	1 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2020USD ($)ft²Property	Mar. 31, 2020shares	Dec. 31, 2019shares	Mar. 31, 2019shares	Dec. 31, 2018shares
Industrial Property Trust, Inc. [Member] | Prologis U S Logistics Venture
Noncontrolling Interest [Line Items]
Number of operating properties acquired | Property	127
Square feet of properties | ft²	19
Business acquisition consideration transferred | $	$ 2
Class A Common [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units, exchanged		8,100	8,100
Units outstanding		8,600	8,600
Common Unit [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units, exchanged		8,500	6,200
Common Stock [Member]
Noncontrolling Interest [Line Items]
Liberty Transaction, units issued		106,723
Other Consolidated Entities [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units, exchanged		300	300
Other Consolidated Entities [Member] | Common Stock [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units		300	300
Prologis, L.P. [Member] | Class A Common [Member] | Limited Partners [Member]
Noncontrolling Interest [Line Items]
Units outstanding		8,613	8,613	8,849	8,849
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Noncontrolling Interest [Line Items]
Units outstanding		13,158	9,933	11,210	10,516
Liberty Transaction, units issued		2,288

Long-Term Compensation - Additi

Long-Term Compensation - Additional Information (Detail) - Prologis Out-Performance Plan [Member] - USD ($) shares in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2020	Mar. 31, 2020
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
2020 - 2022 Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance Period	3 years
Cash incentive award maximum	$ 100,000,000
Holding period	3 years
Aggregate fair value	$ 28,800,000
Assumed risk free interest rate	1.70%
Expected volatility rate	16.00%
2020 - 2022 Performance Period [Member] | Tranche 1 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rights, percentage		20.00%
2020 - 2022 Performance Period [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%
2017 - 2019 Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cash incentive award maximum		$ 75,000,000
Holding period		3 years
Aggregate of performance pool award	$ 75,000,000
Common stock	0.3
POP LTIP Units and LTIP Units	0.5
Initial performance period		3 years
2017 - 2019 Performance Period [Member] | Tranche 1 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rights, percentage	20.00%
2017 - 2019 Performance Period [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%
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		3 years
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		10 years

Long-Term Compensation - RSU Aw

Long-Term Compensation - RSU Awards (Detail) - Restricted Stock Units (RSUs) [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Unvested Awards, Beginning Balance | shares	1,165
Granted | shares	362
Vested and distributed | shares	(437)
Forfeited | shares	(23)
Number of Unvested Awards, Ending Balance | shares	1,067
Weighted Average Grant Date Fair Value | $ / shares	$ 68.44
Weighted Average Grant Date Fair Value, Granted | $ / shares	93.17
Weighted Average Grant Date Fair Value, Vested and distributed | $ / shares	61.74
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	73.64
Weighted Average Grant Date Fair Value | $ / shares	$ 77.68

Long-Term Compensation - LTIP U

Long-Term Compensation - LTIP Units Awards (Detail) - Long Term Incentive Plan Units [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2020$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Beginning Balance	3,714
Vested LTIP Units	888
Vested POP LTIP Units	303
Unvested POP LTIP Units	0
Conversion to common limited partnership units	(201)
Number of Shares, Ending Balance	4,704
Number of Unvested Awards, Beginning Balance	2,678
Granted	658
Vested LTIP Units	(888)
Vested POP LTIP Units	0
Unvested POP LTIP Units	345
Number of Unvested Awards, Ending Balance	2,793
Weighted Average Grant Date Fair Value | $ / shares	$ 60.06
Unvested Weighted Average, Granted | $ / shares	93.23
Unvested Weighted Average, Vested LTIP Units | $ / shares	64.12
Unvested Weighted Average Grant Date Fair Value, Unvested LTIP Units - POP | $ / shares	19.03
Weighted Average Grant Date Fair Value | $ / shares	$ 61.44

Earnings Per Common Share or _3

Earnings Per Common Share or Unit - Computation of Basic and Diluted Earnings Per Share or Unit (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ 489,418	$ 347,047
Net earnings attributable to exchangeable limited partnership units	14,049	10,657
Adjusted net earnings attributable to common stockholders – Diluted	$ 503,467	$ 357,704
Weighted average common shares/units outstanding - Basic	698,272	629,676
Incremental weighted average effect on exchange of limited partnership units	20,230	19,718
Incremental weighted average effect of equity awards	5,481	4,965
Weighted average common shares/partnership units outstanding - Diluted	723,983	654,359
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 0.70	$ 0.55
Diluted	$ 0.70	$ 0.55
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	$ 503,388	$ 357,621
Net earnings attributable to exchangeable limited partnership units	79	83
Adjusted net earnings attributable to common stockholders – Diluted	$ 503,467	$ 357,704
Weighted average common shares/units outstanding - Basic	710,141	640,504
Incremental weighted average effect on exchange of Class A convertible units	8,062	8,356
Incremental weighted average effect on exchange of limited partnership units	299	534
Incremental weighted average effect of equity awards	5,481	4,965
Weighted average common shares/partnership units outstanding - Diluted	723,983	654,359
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 0.70	$ 0.55
Diluted	$ 0.70	$ 0.55
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	$ (5,651)	$ (4,606)
Adjusted net earnings attributable to common stockholders – Diluted	5,651	4,606
Prologis, L.P. [Member] | Common Units [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ 497,737	$ 353,015

Earnings Per Common Share or _4

Earnings Per Common Share or Unit - Computation of Basic and Diluted Earnings Per Share or Unit (Parenthetical) (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potential dilutive shares and units outstanding	27,939	27,391
Prologis, L.P. [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potentially dilutive Class A Units	8,062	8,356
Total weighted average potentially dilutive other limited partnership units	299	534
Total weighted average potentially dilutive equity awards	7,709	7,673
Total weighted average potential dilutive shares and units outstanding	16,070	16,563
Total weighted average potential dilutive common limited partnership units	11,869	10,828

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements - Schedule of Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Derivatives Fair Value [Line Items]
Asset	$ 57,640	$ 13,266
Liability	1,494	23,851
Undesignated Derivatives [Member] | Forwards [Member] | BRL
Derivatives Fair Value [Line Items]
Asset	1,861	181
Liability	0	49
Undesignated Derivatives [Member] | Forwards [Member] | GBP
Derivatives Fair Value [Line Items]
Asset	11,333	731
Liability	33	3,823
Undesignated Derivatives [Member] | Forwards [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	7,070	523
Liability	0	1,855
Undesignated Derivatives [Member] | Forwards [Member] | CNY
Derivatives Fair Value [Line Items]
Asset	3	0
Liability	23	81
Undesignated Derivatives [Member] | Forwards [Member] | EUR
Derivatives Fair Value [Line Items]
Asset	13,765	7,135
Liability	5	2,034
Undesignated Derivatives [Member] | Forwards [Member] | JPY
Derivatives Fair Value [Line Items]
Asset	6,133	3,889
Liability	1	97
Undesignated Derivatives [Member] | Forwards [Member] | SEK
Derivatives Fair Value [Line Items]
Asset	1,638	0
Liability	0	797
Designated As Hedging Instrument [Member] | Net Investment Hedges [Member] | GBP
Derivatives Fair Value [Line Items]
Asset	10,141	807
Liability	1,432	13,189
Designated As Hedging Instrument [Member] | Net Investment Hedges [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	5,590	0
Liability	0	1,926
Designated As Hedging Instrument [Member] | Cash Flow Hedges [Member] | Interest Rate Swaps [Member] | EUR
Derivatives Fair Value [Line Items]
Asset	106	0
Liability	$ 0	$ 0

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Summary of Undesignated Foreign Currency Forwards Activity (Detail) - Forwards [Member] - Undesignated Derivatives [Member]	3 Months Ended
	Mar. 31, 2020USD ($)Derivative	Mar. 31, 2019USD ($)Derivative
Derivative [Line Items]
Notional amounts at January 1	$ 1,107,000,000	$ 669,000,000
New contracts	1,191,000,000	601,000,000
Matured, expired or settled contracts	(1,322,000,000)	(579,000,000)
Notional amounts at March 31	976,000,000	691,000,000
CAD
Derivative [Line Items]
Notional amounts at January 1	120,000,000	55,000,000
New contracts	0	0
Matured, expired or settled contracts	(11,000,000)	(9,000,000)
Notional amounts at March 31	$ 109,000,000	$ 46,000,000
Weighted average forward rate at March 31	1.32	1.28
Active contracts at March 31 | Derivative	35	20
EUR
Derivative [Line Items]
Notional amounts at January 1	$ 581,000,000	$ 314,000,000
New contracts	809,000,000	0
Matured, expired or settled contracts	(1,003,000,000)	(35,000,000)
Notional amounts at March 31	$ 387,000,000	$ 279,000,000
Weighted average forward rate at March 31	1.16	1.21
Active contracts at March 31 | Derivative	61	29
GBP
Derivative [Line Items]
Notional amounts at January 1	$ 178,000,000	$ 118,000,000
New contracts	294,000,000	112,000,000
Matured, expired or settled contracts	(267,000,000)	(21,000,000)
Notional amounts at March 31	$ 205,000,000	$ 209,000,000
Weighted average forward rate at March 31	1.77	1.22
Active contracts at March 31 | Derivative	64	22
JPY
Derivative [Line Items]
Notional amounts at January 1	$ 182,000,000	$ 177,000,000
New contracts	60,000,000	0
Matured, expired or settled contracts	(15,000,000)	(20,000,000)
Notional amounts at March 31	$ 227,000,000	$ 157,000,000
Weighted average forward rate at March 31	103.08	104.86
Active contracts at March 31 | Derivative	53	30
SEK
Derivative [Line Items]
Notional amounts at January 1	$ 31,000,000
New contracts	9,000,000
Matured, expired or settled contracts	(3,000,000)
Notional amounts at March 31	$ 37,000,000
Weighted average forward rate at March 31	9.41
Active contracts at March 31 | Derivative	32
Other
Derivative [Line Items]
Notional amounts at January 1	$ 15,000,000
New contracts	19,000,000
Matured, expired or settled contracts	(23,000,000)
Notional amounts at March 31	$ 11,000,000
BRL
Derivative [Line Items]
Notional amounts at January 1		$ 5,000,000
New contracts		489,000,000
Matured, expired or settled contracts		(494,000,000)
Notional amounts at March 31		$ 0
Weighted average forward rate at March 31		0
Active contracts at March 31 | Derivative		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	3 Months Ended
	Mar. 31, 2020USD ($)Contract	Mar. 31, 2019USD ($)Contract
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Exercised contracts | Contract	33	23
Realized gains on the matured, expired or settled contracts	$ 4	$ 1
Unrealized gains on the change in fair value of outstanding contracts	$ 47	$ 7

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]	3 Months Ended
	Mar. 31, 2020USD ($)Derivative	Mar. 31, 2019USD ($)Derivative
Derivative [Line Items]
Notional amounts at January 1	$ 484,000,000	$ 687,000,000
New contracts	324,000,000	751,000,000
Matured, expired or settled contracts	(576,000,000)	(949,000,000)
Notional amounts at March 31	232,000,000	489,000,000
CAD
Derivative [Line Items]
Notional amounts at January 1	97,000,000	100,000,000
New contracts	0	0
Matured, expired or settled contracts	0	0
Notional amounts at March 31	$ 97,000,000	$ 100,000,000
Weighted average forward rate at March 31	1.32	1.28
Active contracts at March 31 | Derivative	2	2
BRL
Derivative [Line Items]
Notional amounts at January 1		$ 460,000,000
New contracts		489,000,000
Matured, expired or settled contracts		(949,000,000)
Notional amounts at March 31		$ 0
Weighted average forward rate at March 31		0
Active contracts at March 31 | Derivative		0
GBP
Derivative [Line Items]
Notional amounts at January 1	$ 387,000,000	$ 127,000,000
New contracts	324,000,000	262,000,000
Matured, expired or settled contracts	(576,000,000)	0
Notional amounts at March 31	$ 135,000,000	$ 389,000,000
Weighted average forward rate at March 31	1.35	1.30
Active contracts at March 31 | Derivative	1	6

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 ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
EUR
Derivative [Line Items]
Notional amounts at January 1	$ 0	$ 500,000,000
New contracts	165,000,000	0
Matured, expired or settled contracts	0	0
Notional amounts at March 31	165,000,000	$ 500,000,000
USD
Derivative [Line Items]
Notional amounts at January 1	0
New contracts	750,000,000
Matured, expired or settled contracts	(750,000,000)
Notional amounts at March 31	$ 0

Financial Instruments and Fai_8

Financial Instruments and Fair Value Measurements - Summary of Activity in Interest Rate Swaps (Parenthetical) (Detail) $ in Thousands, € in Millions	3 Months Ended
	Mar. 31, 2020USD ($)Contract	Mar. 31, 2019USD ($)	Mar. 31, 2020EUR (€)
Derivative [Line Items]
Loss on derivatives	$ 23,448	$ 2,633
Interest Rate Swaps [Member] | Senior Notes [Member] | EUR
Derivative [Line Items]
Number of Contracts | Contract	1
Notional value of derivative	$ 165,000		€ 150
Interest rate description	Euribor plus 0.3%
Interest rate	0.30%
Treasury Lock Contracts [Member] | Senior Notes [Member] | USD
Derivative [Line Items]
Number of Contracts | Contract	4
Notional value of derivative	$ 750,000
Loss on derivatives	$ 16,800

Financial Instruments and Fai_9

Financial Instruments and Fair Value Measurements - Summary of Debt and Accrued Interest, Designated as Hedge (Detail) - Designated As Hedging Instrument [Member] - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
British Pound Sterling Senior Notes [Member]
Derivatives Fair Value [Line Items]
Senior Notes Outstanding	$ 633	$ 329
Euro Senior Notes [Member]
Derivatives Fair Value [Line Items]
Senior Notes Outstanding	$ 0	$ 850

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	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivatives Fair Value [Line Items]
Foreign currency translation gains (losses), net	$ (133,533)	$ 60,080
Forward Contracts [Member]
Derivatives Fair Value [Line Items]
Foreign currency translation gains (losses), net	$ 82,000

Financial Instruments and Fa_11

Financial Instruments and Fair Value Measurements - Summary of Changes in Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative translation adjustment	$ (191,642)	$ 15,875
Total foreign currency translation gains (losses), net	(133,533)	60,080
Total unrealized losses on derivative contracts, net	(23,448)	(2,633)
Total change in other comprehensive income (loss)	(156,981)	57,447
Designated As Hedging Instrument [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative hedging instruments	25,359	(19,452)
Designated As Hedging Instrument [Member] | Non derivative Net Investment Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Debt designated as nonderivative net investment hedges	32,750	63,657
Designated As Hedging Instrument [Member] | Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative hedging instruments	(15,525)	1,105
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	$ (7,923)	$ (3,738)

Financial Instruments and Fa_12

Financial Instruments and Fair Value Measurements - Summary of Changes in Other Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Derivative Instruments Gain Loss [Line Items]
Loss on derivatives	$ 23,448	$ 2,633
Treasury Lock Contracts [Member] | Senior Notes [Member] | USD
Derivative Instruments Gain Loss [Line Items]
Loss on derivatives	16,800
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	$ 5,700

Financial Instruments and Fa_13

Financial Instruments and Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	$ 15,676,592	$ 11,905,877
Fair Value of Debt	15,382,500	12,527,858
Credit Facilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	52,522	184,255
Fair Value of Debt	52,522	184,255
Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	13,045,081	9,660,570
Fair Value of Debt	12,693,738	10,228,715
Term Loans and Unsecured Other [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	1,930,955	1,441,882
Fair Value of Debt	1,953,500	1,463,841
Secured Mortgages [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	648,034	619,170
Fair Value of Debt	$ 682,740	$ 651,047

Business Segments - Additional

Business Segments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2020Segment
Segment Reporting [Abstract]
Number of operating segments	2

Business Segments - Segment Rep

Business Segments - Segment Reporting, Reconciliation of Revenues, Operating Income and Assets (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 978,241	$ 772,052
Operating income	468,057	376,590
General and administrative expenses	69,689	69,701
Depreciation and amortization expenses	345,970	284,009
Gains on dispositions of development properties and land, net	162,750	42,441
Gains on other dispositions of investments in real estate, net	31,491	145,767
Earnings from unconsolidated entities, net	88,730	56,666
Interest expense	(75,642)	(60,507)
Interest and other income, net	370	7,910
Foreign currency and derivative gains, net	113,329	8,734
Losses on early extinguishment of debt, net	(42,767)	(2,116)
Earnings before income taxes	552,077	387,277
Total assets	55,007,247		$ 40,031,850
Investments in and advances to unconsolidated entities	6,834,758		6,237,371
Assets held for sale or contribution	1,975,524		720,685
Lease right-of-use assets	510,191		486,330
Cash and cash equivalents	807,871	251,030	1,088,855	$ 343,856
Other assets	2,428,955		1,711,857
Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total assets	44,954,528		31,590,756
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income	689,475	542,092
Total assets	44,994,372		31,630,924
Operating Segments [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	881,650	698,247
Operating income	639,458	506,345
Operating Segments [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	96,591	73,805
Operating income	50,017	35,747
Total assets	39,844		40,168
Operating Segments [Member] | U.S. [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	829,383	651,869
Operating income	602,604	471,076
Total assets	41,487,331		27,999,868
Operating Segments [Member] | U.S. [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	34,342	20,268
Operating income	13,624	3,327
Total assets	14,211		14,529
Operating Segments [Member] | Other Americas [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	26,079	23,865
Operating income	19,456	19,053
Total assets	1,286,433		1,332,237
Operating Segments [Member] | Other Americas [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	9,111	7,900
Operating income	5,179	5,422
Operating Segments [Member] | Europe [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	15,502	8,557
Operating income	10,155	5,544
Total assets	1,474,343		1,379,579
Operating Segments [Member] | Europe [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	32,590	28,838
Operating income	20,594	19,151
Total assets	25,280		25,280
Operating Segments [Member] | Asia [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	10,686	13,956
Operating income	7,243	10,672
Total assets	706,421		879,072
Operating Segments [Member] | Asia [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	20,548	16,799
Operating income	10,620	7,847
Total assets	353		359
Reconciling Items [Member]
Segment Reporting Information [Line Items]
Operating income	468,057	376,590
General and administrative expenses	(69,689)	(69,701)
Depreciation and amortization expenses	(345,970)	(284,009)
Gains on dispositions of development properties and land, net	162,750	42,441
Gains on other dispositions of investments in real estate, net	31,491	145,767
Earnings from unconsolidated entities, net	88,730	56,666
Interest expense	(75,642)	(60,507)
Interest and other income, net	370	7,910
Foreign currency and derivative gains, net	113,329	8,734
Losses on early extinguishment of debt, net	(42,767)	$ (2,116)
Total assets	10,012,875		8,400,926
Investments in and advances to unconsolidated entities	6,834,758		6,237,371
Assets held for sale or contribution	1,975,524		720,685
Lease right-of-use assets	115,270		111,439
Cash and cash equivalents	807,871		1,088,855
Other assets	$ 279,452		$ 242,576

Business Segments - Segment R_2

Business Segments - Segment Reporting, Reconciliation of Revenues, Operating Income and Assets (Parenthetical) (Detail) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
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	Feb. 04, 2020	Mar. 31, 2020	Mar. 31, 2019	Jan. 31, 2019
Supplemental Cash Flow Information [Line Items]
Lease Right-of-Use assets		$ 3.8	$ 393
Lease liabilities		3.8	400.3
Capitalization for equity based compensation expense		8.3	7.5
Interest paid, net of amounts capitalized		110.5	95.4
Cash paid for income taxes, net of refunds		$ 21.7	$ 26.5
Limited Partners [Member] | Prologis, L.P. [Member] | Common [Member]
Supplemental Cash Flow Information [Line Items]
PLD units redeemed for common shares		0.1	0.4
Unconsolidated Entities [Member]
Supplemental Cash Flow Information [Line Items]
Equity ownership interest received		$ 57.1	$ 177.2
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%
Liberty Transaction [Member]
Supplemental Cash Flow Information [Line Items]
Business acquisition consideration transferred	$ 13,000