Prologis (PLD) 10-K 9 Feb 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 07, 2022	Jun. 30, 2021
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Registrant Name	Prologis, Inc.
Entity Central Index Key	0001045609
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		740,000,000
Entity Interactive Data Current	Yes
Entity File Number	001-13545
ICFR Auditor Attestation Flag	true
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	94-3281941
Entity Address, Address Line One	Pier 1, Bay 1
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94111
City Area Code	415
Local Phone Number	394-9000
Document Annual Report	true
Document Transition Report	false
Entity Public Float			$ 87,997,816,686
Auditor Name	KPMG LLP
Auditor Location	Denver, CO
Auditor Firm ID	185
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of Part III of this report are incorporated by reference to the registrant’s definitive proxy statement for the 2021 annual meeting of its stockholders or will be provided in an amendment filed on Form 10-K/A.
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	PLD
Security Exchange Name	NYSE
Prologis LP [Member]
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Registrant Name	Prologis, L.P.
Entity Central Index Key	0001045610
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity File Number	001-14245
ICFR Auditor Attestation Flag	true
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3285362
Entity Address, Address Line One	Pier 1, Bay 1
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94111
City Area Code	415
Local Phone Number	394-9000
Document Annual Report	true
Document Transition Report	false
Auditor Name	KPMG LLP
Auditor Location	Denver, CO
Auditor Firm ID	185
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of Part III of this report are incorporated by reference to the registrant’s definitive proxy statement for the 2021 annual meeting of its stockholders or will be provided in an amendment filed on Form 10-K/A.
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	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Investments in real estate properties	$ 53,005,190	$ 50,384,328
Less accumulated depreciation	7,668,187	6,539,156
Net investments in real estate properties	45,337,003	43,845,172
Investments in and advances to unconsolidated entities	8,610,958	7,602,014
Assets held for sale or contribution	669,688	1,070,724	[1]
Net investments in real estate	54,617,649	52,517,910
Cash and cash equivalents	556,117	598,086
Other assets	3,312,454	2,949,009
Total assets	58,486,220	56,065,005
Liabilities:
Debt	17,715,054	16,849,076
Accounts payable and accrued expenses	1,252,767	1,143,372
Other liabilities	1,776,189	1,747,977
Total liabilities	20,744,010	19,740,425
Prologis, Inc. stockholders’ equity:
Series Q preferred stock at stated liquidation preference of $50 per share; $0.01 par value; 1,279 shares issued and outstanding and 100,000 preferred shares authorized at December 31, 2021 and 2020	63,948	63,948
Common stock; $0.01 par value; 739,827 and 739,381 shares issued and outstanding at December 31, 2021 and 2020, respectively	7,398	7,394
Additional paid-in capital	35,561,608	35,488,634
Accumulated other comprehensive loss	(878,253)	(1,193,739)
Distributions in excess of net earnings	(1,327,828)	(2,394,690)
Total Prologis, Inc. stockholders’ equity	33,426,873	31,971,547
Noncontrolling interests	4,315,337	4,353,033
Total equity	37,742,210	36,324,580
Total liabilities and equity	58,486,220	56,065,005
Partners’ capital:
Noncontrolling interests	4,315,337	4,353,033
Total equity	37,742,210	36,324,580
Prologis, L.P. [Member]
ASSETS
Investments in real estate properties	53,005,190	50,384,328
Less accumulated depreciation	7,668,187	6,539,156
Net investments in real estate properties	45,337,003	43,845,172
Investments in and advances to unconsolidated entities	8,610,958	7,602,014
Assets held for sale or contribution	669,688	1,070,724
Net investments in real estate	54,617,649	52,517,910
Cash and cash equivalents	556,117	598,086
Other assets	3,312,454	2,949,009
Total assets	58,486,220	56,065,005
Liabilities:
Debt	17,715,054	16,849,076
Accounts payable and accrued expenses	1,252,767	1,143,372
Other liabilities	1,776,189	1,747,977
Total liabilities	20,744,010	19,740,425
Prologis, Inc. stockholders’ equity:
Noncontrolling interests	3,397,538	3,483,526
Total liabilities and equity	58,486,220	56,065,005
Partners’ capital:
Total partners’ capital	34,344,672	32,841,054
Noncontrolling interests	3,397,538	3,483,526
Total capital	37,742,210	36,324,580
Prologis, L.P. [Member] | Preferred [Member]
Partners’ capital:
General partner	63,948	63,948
Prologis, L.P. [Member] | Common [Member]
Partners’ capital:
General partner	33,362,925	31,907,599
Limited partners	557,097	523,954
Prologis, L.P. [Member] | Class A Common [Member]
Partners’ capital:
Limited partners	$ 360,702	$ 345,553
[1]	At December 31, 2020, Assets Held for Sale or Contribution included certain properties acquired through the Liberty Transaction and the IPT Transaction that were subsequently sold during 2021.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
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	1,279,000	1,279,000
Preferred stock, shares outstanding	1,279,000	1,279,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	739,827,000	739,381,000
Common stock, shares outstanding	739,827,000	739,381,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Rental		$ 4,147,994	$ 3,791,131	$ 2,831,818
Strategic capital		590,750	636,987	491,886
Development management and other		20,696	10,617	6,917
Total revenues		4,759,440	4,438,735	3,330,621
Expenses:
Rental		1,041,316	952,063	734,266
Strategic capital		207,171	218,041	184,661
General and administrative		293,167	274,845	266,718
Depreciation and amortization		1,577,942	1,561,969	1,139,879
Other		22,435	30,010	13,149
Total expenses		3,142,031	3,036,928	2,338,673
Operating income before gains on real estate transactions, net		1,617,409	1,401,807	991,948
Gains on dispositions of development properties and land, net		817,017	464,942	467,577
Gains on other dispositions of investments in real estate, net		772,570	252,195	390,241
Operating income		3,206,996	2,118,944	1,849,766
Other income (expense):
Earnings from unconsolidated entities, net		404,255	297,370	200,178
Interest expense		(266,228)	(314,507)	(239,953)
Interest and other income, net		871	1,044	24,213
Foreign currency and derivative gains (losses), net		164,407	(167,473)	(41,715)
Losses on early extinguishment of debt, net		(187,453)	(188,290)	(16,126)
Total other income (expense)		115,852	(371,856)	(73,403)
Earnings before income taxes		3,322,848	1,747,088	1,776,363
Total income tax expense		(174,258)	(130,458)	(74,517)
Consolidated net earnings		3,148,590	1,616,630	1,701,846
Less net earnings attributable to noncontrolling interests		208,867	134,816	128,887
Net earnings attributable to controlling interests		2,939,723	1,481,814	1,572,959
Less preferred stock/unit dividends/distributions		6,152	6,345	6,009
Loss on preferred stock/unit repurchase		0	2,347	0
Net earnings attributable to common stockholders/unitholders		$ 2,933,571	$ 1,473,122	$ 1,566,950
Weighted average common shares/units outstanding - Basic		739,363	728,323	630,580
Weighted average common shares/units outstanding - Diluted	[1]	764,762	754,414	654,903
Net earnings per share/unit attributable to common stockholders/unitholders - Basic		$ 3.97	$ 2.02	$ 2.48
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted		$ 3.94	$ 2.01	$ 2.46
Prologis, L.P. [Member]
Revenues:
Rental		$ 4,147,994	$ 3,791,131	$ 2,831,818
Strategic capital		590,750	636,987	491,886
Development management and other		20,696	10,617	6,917
Total revenues		4,759,440	4,438,735	3,330,621
Expenses:
Rental		1,041,316	952,063	734,266
Strategic capital		207,171	218,041	184,661
General and administrative		293,167	274,845	266,718
Depreciation and amortization		1,577,942	1,561,969	1,139,879
Other		22,435	30,010	13,149
Total expenses		3,142,031	3,036,928	2,338,673
Operating income before gains on real estate transactions, net		1,617,409	1,401,807	991,948
Gains on dispositions of development properties and land, net		817,017	464,942	467,577
Gains on other dispositions of investments in real estate, net		772,570	252,195	390,241
Operating income		3,206,996	2,118,944	1,849,766
Other income (expense):
Earnings from unconsolidated entities, net		404,255	297,370	200,178
Interest expense		(266,228)	(314,507)	(239,953)
Interest and other income, net		871	1,044	24,213
Foreign currency and derivative gains (losses), net		164,407	(167,473)	(41,715)
Losses on early extinguishment of debt, net		(187,453)	(188,290)	(16,126)
Total other income (expense)		115,852	(371,856)	(73,403)
Earnings before income taxes		3,322,848	1,747,088	1,776,363
Total income tax expense		(174,258)	(130,458)	(74,517)
Consolidated net earnings		3,148,590	1,616,630	1,701,846
Less net earnings attributable to noncontrolling interests		127,075	93,195	82,222
Net earnings attributable to controlling interests		3,021,515	1,523,435	1,619,624
Less preferred stock/unit dividends/distributions		6,152	6,345	6,009
Loss on preferred stock/unit repurchase		0	2,347	0
Net earnings attributable to common stockholders/unitholders		$ 3,015,363	$ 1,514,743	$ 1,613,615
Weighted average common shares/units outstanding - Basic		751,973	740,860	641,128
Weighted average common shares/units outstanding - Diluted	[1]	764,762	754,414	654,903
Net earnings per share/unit attributable to common stockholders/unitholders - Basic		$ 3.97	$ 2.02	$ 2.48
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted		$ 3.94	$ 2.01	$ 2.46
[1]	Our total weighted average potentially dilutive shares and units outstanding for the years ended December 31 consisted of the following:

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Consolidated net earnings	$ 3,148,590	$ 1,616,630	$ 1,701,846
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	305,929	(194,673)	98,482
Unrealized gains (losses) on derivative contracts, net	17,542	(14,117)	(1,335)
Comprehensive income	3,472,061	1,407,840	1,798,993
Net earnings attributable to noncontrolling interests	(208,867)	(134,816)	(128,887)
Other comprehensive loss (income) attributable to noncontrolling interests	(7,985)	5,449	(2,874)
Comprehensive income attributable to common stockholders/unitholders	3,255,209	1,278,473	1,667,232
Prologis, L.P. [Member]
Consolidated net earnings	3,148,590	1,616,630	1,701,846
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	305,929	(194,673)	98,482
Unrealized gains (losses) on derivative contracts, net	17,542	(14,117)	(1,335)
Comprehensive income	3,472,061	1,407,840	1,798,993
Net earnings attributable to noncontrolling interests	(127,075)	(93,195)	(82,222)
Other comprehensive loss (income) attributable to noncontrolling interests	692	(92)	(188)
Comprehensive income attributable to common stockholders/unitholders	$ 3,345,678	$ 1,314,553	$ 1,716,583

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	1,701,846					1,572,959	128,887
Effect of equity compensation plans	104,709		$ 10	37,008			67,691
Effect of equity compensation plans, shares			961
Capital contributions	11,604						11,604
Purchase of noncontrolling interests	(13,250)			2,133			(15,383)
Redemption of noncontrolling interests	(108,433)		$ 12	32,878			(141,323)
Redemption of noncontrolling interests, shares			1,220
Contribution to Brazil venture	(12,630)						(12,630)
Foreign currency translation gains (losses), net	98,482				95,572		2,910
Unrealized gains (losses) on derivative contracts, net	(1,335)				(1,299)		(36)
Reallocation of equity				(38,561)			38,561
Dividends and other distributions	(1,510,097)			(18)		(1,345,660)	(164,419)
Balance at Dec. 31, 2019	26,071,784	68,948	$ 6,318	25,719,427	(990,398)	(2,151,168)	3,418,657
Balance, shares at Dec. 31, 2019			631,797
Consolidated net earnings	1,616,630					1,481,814	134,816
Effect of equity compensation plans	109,985		$ 7	27,745			82,233
Effect of equity compensation plans, shares			690
Liberty Transaction, net of issuance costs	10,013,526		$ 1,067	9,801,373			211,086
Liberty Transaction, net of issuance costs, shares			106,723
Acquisitions by noncontrolling interests	48,533						48,533
Repurchases of common units	(34,829)		$ (5)	(34,824)
Repurchase of common units, shares			(539)
Repurchase of preferred stock	(7,200)	(5,000)		147		(2,347)
Capital contributions	917,092						917,092
Redemption of noncontrolling interests	(116,978)		$ 7	30,727			(147,712)
Redemption of noncontrolling interests, shares			710
Foreign currency translation gains (losses), net	(194,673)				(189,599)		(5,074)
Unrealized gains (losses) on derivative contracts, net	(14,117)				(13,742)		(375)
Reallocation of equity				(55,413)			55,413
Dividends and other distributions	(2,085,173)			(548)		(1,722,989)	(361,636)
Balance at Dec. 31, 2020	$ 36,324,580	63,948	$ 7,394	35,488,634	(1,193,739)	(2,394,690)	4,353,033
Balance, shares at Dec. 31, 2020	739,381		739,381
Consolidated net earnings	$ 3,148,590					2,939,723	208,867
Effect of equity compensation plans	116,172		$ (4)	38,114			78,062
Effect of equity compensation plans, shares			(389)
Acquisitions by noncontrolling interests	130,416						130,416
Capital contributions	74,404						74,404
Redemption of noncontrolling interests	(153,236)		$ 8	37,238			(190,482)
Redemption of noncontrolling interests, shares			835
Consolidation of other venture	25,759						25,759
Foreign currency translation gains (losses), net	305,929				298,413		7,516
Unrealized gains (losses) on derivative contracts, net	17,542				17,073		469
Reallocation of equity				(2,347)			2,347
Dividends and other distributions	(2,247,946)			(31)		(1,872,861)	(375,054)
Balance at Dec. 31, 2021	$ 37,742,210	$ 63,948	$ 7,398	$ 35,561,608	$ (878,253)	$ (1,327,828)	$ 4,315,337
Balance, shares at Dec. 31, 2021	739,827		739,827

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Of Stockholders Equity [Abstract]
Dividends per common share	$ 2.52	$ 2.32	$ 2.12

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating activities:
Consolidated net earnings	$ 3,148,590	$ 1,616,630	$ 1,701,846
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(148,239)	(126,328)	(98,426)
Equity-based compensation awards	113,028	109,831	97,557
Depreciation and amortization	1,577,942	1,561,969	1,139,879
Earnings from unconsolidated entities, net	(404,255)	(297,370)	(200,178)
Operating distributions from unconsolidated entities	440,034	450,622	346,517
Decrease (increase) in operating receivables from unconsolidated entities	(14,223)	14,670	11,557
Amortization of debt discounts and debt issuance costs, net	8,656	7,859	17,006
Gains on dispositions of development properties and land, net	(817,017)	(464,942)	(467,577)
Gains on other dispositions of investments in real estate, net	(772,570)	(252,195)	(390,241)
Unrealized foreign currency and derivative losses (gains), net	(173,026)	160,739	70,693
Losses on early extinguishment of debt, net	187,453	188,290	16,126
Deferred income tax expense	1,322	744	12,221
Increase in accounts receivable and other assets	(328,511)	(127,619)	(108,165)
Increase in accounts payable and accrued expenses and other liabilities	176,858	94,105	115,219
Net cash provided by operating activities	2,996,042	2,937,005	2,264,034
Investing activities:
Real estate development	(2,639,872)	(1,920,218)	(1,795,137)
Real estate acquisitions	(2,320,448)	(1,239,034)	(1,006,043)
Tenant improvements and lease commissions on previously leased space	(329,059)	(221,491)	(179,274)
Property improvements	(169,933)	(149,491)	(143,029)
Proceeds from dispositions and contributions of real estate	4,222,290	2,281,940	2,331,623
Investments in and advances to unconsolidated entities	(798,103)	(385,936)	(276,169)
Return of investment from unconsolidated entities	58,275	257,065	389,463
Proceeds from repayment of notes receivable backed by real estate	0	4,312	0
Proceeds from the settlement of net investment hedges	3,305	2,352	23,640
Payments on the settlement of net investment hedges	(16,513)	(9,034)	(30,424)
Net cash used in investing activities	(1,990,058)	(3,074,330)	(685,350)
Financing activities:
Proceeds from issuance of common stock/units	743	2,217	6,082
Repurchase and retirement of common stock	0	(34,829)	0
Repurchase of preferred stock	0	(7,200)	0
Dividends/distributions paid on common and preferred stock/units	(1,872,861)	(1,722,989)	(1,345,660)
Noncontrolling interests contributions	74,404	917,092	11,604
Noncontrolling interests distributions	(375,054)	(361,636)	(164,419)
Settlement of noncontrolling interests	(153,236)	(116,978)	(109,811)
Tax paid with shares withheld	(19,855)	(24,887)	(22,434)
Debt and equity issuance costs paid	(23,318)	(54,204)	(17,656)
Net proceeds from (payments on) credit facilities	323,336	(10,959)	127,566
Repurchase of and payments on debt	(2,560,174)	(6,782,306)	(3,301,827)
Proceeds from the issuance of debt	3,597,690	7,824,517	3,976,956
Net cash used in financing activities	(1,008,325)	(372,162)	(839,599)
Net cash used in financing activities	(1,008,325)	(372,162)	(839,599)
Effect of foreign currency exchange rate changes on cash	(39,628)	18,718	5,914
Net increase (decrease) in cash and cash equivalents	(41,969)	(490,769)	744,999
Cash and cash equivalents, beginning of year	598,086	1,088,855	343,856
Cash and cash equivalents, end of year	556,117	598,086	1,088,855
Prologis, L.P. [Member]
Operating activities:
Consolidated net earnings	3,148,590	1,616,630	1,701,846
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(148,239)	(126,328)	(98,426)
Equity-based compensation awards	113,028	109,831	97,557
Depreciation and amortization	1,577,942	1,561,969	1,139,879
Earnings from unconsolidated entities, net	(404,255)	(297,370)	(200,178)
Operating distributions from unconsolidated entities	440,034	450,622	346,517
Decrease (increase) in operating receivables from unconsolidated entities	(14,223)	14,670	11,557
Amortization of debt discounts and debt issuance costs, net	8,656	7,859	17,006
Gains on dispositions of development properties and land, net	(817,017)	(464,942)	(467,577)
Gains on other dispositions of investments in real estate, net	(772,570)	(252,195)	(390,241)
Unrealized foreign currency and derivative losses (gains), net	(173,026)	160,739	70,693
Losses on early extinguishment of debt, net	187,453	188,290	16,126
Deferred income tax expense	1,322	744	12,221
Increase in accounts receivable and other assets	(328,511)	(127,619)	(108,165)
Increase in accounts payable and accrued expenses and other liabilities	176,858	94,105	115,219
Net cash provided by operating activities	2,996,042	2,937,005	2,264,034
Investing activities:
Real estate development	(2,639,872)	(1,920,218)	(1,795,137)
Real estate acquisitions	(2,320,448)	(1,239,034)	(1,006,043)
Tenant improvements and lease commissions on previously leased space	(329,059)	(221,491)	(179,274)
Property improvements	(169,933)	(149,491)	(143,029)
Proceeds from dispositions and contributions of real estate	4,222,290	2,281,940	2,331,623
Investments in and advances to unconsolidated entities	(798,103)	(385,936)	(276,169)
Return of investment from unconsolidated entities	58,275	257,065	389,463
Proceeds from repayment of notes receivable backed by real estate	0	4,312	0
Proceeds from the settlement of net investment hedges	3,305	2,352	23,640
Payments on the settlement of net investment hedges	(16,513)	(9,034)	(30,424)
Net cash used in investing activities	(1,990,058)	(3,074,330)	(685,350)
Financing activities:
Proceeds from issuance of common stock/units	743	2,217	6,082
Repurchase and retirement of common stock	0	(34,829)	0
Repurchase of preferred stock	0	(7,200)	0
Dividends/distributions paid on common and preferred stock/units	(1,935,381)	(1,781,482)	(1,396,051)
Noncontrolling interests contributions	74,404	917,092	11,604
Noncontrolling interests distributions	(312,534)	(303,143)	(114,028)
Settlement of noncontrolling interests	0	0	(22,471)
Redemption of common limited partnership units	153,236	116,978	87,340
Tax paid for shares of the Parent withheld	(19,855)	(24,887)	(22,434)
Debt and equity issuance costs paid	(23,318)	(54,204)	(17,656)
Net proceeds from (payments on) credit facilities	323,336	(10,959)	127,566
Repurchase of and payments on debt	(2,560,174)	(6,782,306)	(3,301,827)
Proceeds from the issuance of debt	3,597,690	7,824,517	3,976,956
Redemption of common limited partnership units	(153,236)	(116,978)	(87,340)
Net cash used in financing activities	(1,008,325)	(372,162)	(839,599)
Net cash used in financing activities	(1,008,325)	(372,162)	(839,599)
Effect of foreign currency exchange rate changes on cash	(39,628)	18,718	5,914
Net increase (decrease) in cash and cash equivalents	(41,969)	(490,769)	744,999
Cash and cash equivalents, beginning of year	598,086	1,088,855	343,856
Cash and cash equivalents, end of year	556,117	598,086	1,088,855
Liberty Transaction [Member]
Investing activities:
Transaction, net of cash acquired	0	(29,436)	0
Liberty Transaction [Member] | Prologis, L.P. [Member]
Investing activities:
Transaction, net of cash acquired	0	(29,436)	0
IPT Transaction [Member]
Investing activities:
Transaction, net of cash acquired	0	(1,665,359)	0
IPT Transaction [Member] | Prologis, L.P. [Member]
Investing activities:
Transaction, net of cash acquired	$ 0	$ (1,665,359)	$ 0

Consolidated Statements of Capi

Consolidated Statements of Capital - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Consolidated net earnings	$ 1,300,853	$ 399,693	$ 308,007	$ 521,164	$ 3,148,590	$ 1,616,630	$ 1,701,846
Effect of equity compensation plans					116,172	109,985	104,709
Issuance of units related to acquisitions					130,416	48,533
Repurchase of preferred units						(7,200)
Capital contributions					74,404	917,092	11,604
Purchase of noncontrolling interests							(13,250)
Redemption of noncontrolling interests					(153,236)	(116,978)	(108,433)
Consolidation of other venture					25,759
Contribution to Brazil venture							(12,630)
Unrealized gains (losses) on derivative contracts, net					17,542	(14,117)	(1,335)
Noncontrolling Interests [Member]
Consolidated net earnings					208,867	134,816	128,887
Effect of equity compensation plans					78,062	82,233	67,691
Issuance of units related to acquisitions					130,416	48,533
Capital contributions					74,404	917,092	11,604
Purchase of noncontrolling interests							(15,383)
Redemption of noncontrolling interests					(190,482)	(147,712)	(141,323)
Consolidation of other venture					25,759
Contribution to Brazil venture							(12,630)
Unrealized gains (losses) on derivative contracts, net					$ 469	$ (375)	(36)
Limited Partners [Member]
Consolidated net earnings	$ 1,300,853	$ 399,693	$ 308,007	521,164
Class A Common [Member]
Beginning balance, Units		8,600			8,600
Ending balance, Units	8,600		8,600		8,600	8,600
Prologis, L.P. [Member]
Beginning balance		$ 36,324,580		26,071,784	$ 36,324,580	$ 26,071,784	25,800,888
Consolidated net earnings					3,148,590	1,616,630	1,701,846
Effect of equity compensation plans					116,172	109,985	104,709
Liberty Transaction, net of issuance costs						10,013,526
Issuance of units related to acquisitions					130,416	48,533
Repurchase of common units						(34,829)
Repurchase of preferred units						(7,200)
Capital contributions					74,404	917,092	11,604
Purchase of noncontrolling interests							(13,250)
Redemption of noncontrolling interests							(21,093)
Redemption of limited partnership units					(153,236)	(116,978)	(87,340)
Consolidation of other venture					25,759
Contribution to Brazil venture							(12,630)
Foreign currency translation gains (losses), net					305,929	(194,673)	98,482
Unrealized gains (losses) on derivative contracts, net					17,542	(14,117)	(1,335)
Distributions and other					(2,247,946)	(2,085,173)	(1,510,097)
Ending balance	$ 37,742,210		$ 36,324,580		37,742,210	36,324,580	26,071,784
Prologis, L.P. [Member] | Noncontrolling Interests [Member]
Beginning balance		3,483,526		2,775,394	3,483,526	2,775,394	2,836,469
Consolidated net earnings					127,075	93,195	82,222
Liberty Transaction, net of issuance costs						896
Capital contributions					74,404	917,092	11,604
Purchase of noncontrolling interests							(15,383)
Redemption of noncontrolling interests							(13,048)
Consolidation of other venture					25,759
Contribution to Brazil venture							(12,630)
Foreign currency translation gains (losses), net					(692)	92	188
Distributions and other					(312,534)	(303,143)	(114,028)
Ending balance	3,397,538		3,483,526		3,397,538	3,483,526	2,775,394
Prologis, L.P. [Member] | Limited Partners [Member]
Liberty Transaction, net of issuance costs					$ 130,400
Liberty Transaction, net of issuance costs, units					1,000
Prologis, L.P. [Member] | Preferred [Member] | General Partner [Member]
Beginning balance		$ 63,948		$ 68,948	$ 63,948	$ 68,948	$ 68,948
Beginning balance, Units		1,279		1,379	1,279	1,379	1,379
Repurchase of preferred units						$ (5,000)
Redemption of preferred units, units						(100)
Ending balance	$ 63,948		$ 63,948		$ 63,948	$ 63,948	$ 68,948
Ending balance, Units	1,279		1,279		1,279	1,279	1,379
Prologis, L.P. [Member] | Common [Member] | General Partner [Member]
Beginning balance		$ 31,907,599		$ 22,584,179	$ 31,907,599	$ 22,584,179	$ 22,229,145
Beginning balance, Units		739,381		631,797	739,381	631,797	629,616
Consolidated net earnings					$ 2,939,723	$ 1,481,814	$ 1,572,959
Effect of equity compensation plans					$ 38,110	$ 27,752	$ 37,018
Effect of equity compensation plans, units					(389)	690	961
Liberty Transaction, net of issuance costs						$ 9,802,440
Liberty Transaction, net of issuance costs, units						106,723
Repurchase of common units						$ (34,829)
Repurchases of common units, units						(539)
Repurchase of preferred units						$ (2,200)
Purchase of noncontrolling interests							$ 2,133
Redemption of noncontrolling interests							(8,045)
Redemption of limited partnership units					$ 37,246	$ 30,734	$ 40,935
Redemption of limited partners units, units					835	710	1,220
Foreign currency translation gains (losses), net					$ 298,413	$ (189,599)	$ 95,572
Unrealized gains (losses) on derivative contracts, net					17,073	(13,742)	(1,299)
Reallocation of capital					(2,347)	(55,413)	(38,561)
Distributions and other					(1,872,892)	(1,723,537)	(1,345,678)
Ending balance	$ 33,362,925		$ 31,907,599		$ 33,362,925	$ 31,907,599	$ 22,584,179
Ending balance, Units	739,827		739,381		739,827	739,381	631,797
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Beginning balance		$ 523,954		$ 355,076	$ 523,954	$ 355,076	$ 371,281
Beginning balance, Units		12,142		9,933	12,142	9,933	10,516
Consolidated net earnings					$ 50,034	$ 25,359	$ 26,211
Effect of equity compensation plans					$ 78,062	$ 82,233	$ 67,691
Effect of equity compensation plans, units					1,286	1,362	1,525
Liberty Transaction, net of issuance costs						$ 210,190
Liberty Transaction, net of issuance costs, units						2,288
Issuance of units related to acquisitions					$ 130,416	$ 48,533
Issuance of units related to acquisitions, units					1,031	461
Redemption of limited partnership units					$ (190,482)	$ (146,990)	$ (120,387)
Redemption of limited partners units, units					(2,105)	(1,902)	(2,108)
Foreign currency translation gains (losses), net					$ 4,982	$ (3,113)	$ 1,502
Unrealized gains (losses) on derivative contracts, net					285	(226)	(19)
Reallocation of capital					133	(10,868)	36,603
Distributions and other					(40,287)	(36,240)	(27,806)
Ending balance	$ 557,097		$ 523,954		$ 557,097	$ 523,954	$ 355,076
Ending balance, Units	12,354		12,142		12,354	12,142	9,933
Prologis, L.P. [Member] | Class A Common [Member] | Limited Partners [Member]
Beginning balance		$ 345,553		$ 288,187	$ 345,553	$ 288,187	$ 295,045
Beginning balance, Units		8,595		8,613	8,595	8,613	8,849
Consolidated net earnings					$ 31,758	$ 16,262	$ 20,454
Redemption of limited partnership units						$ (722)	$ (7,888)
Redemption of limited partners units, units						(18)	(236)
Foreign currency translation gains (losses), net					3,226	$ (2,053)	$ 1,220
Unrealized gains (losses) on derivative contracts, net					184	(149)	(17)
Reallocation of capital					2,214	66,281	1,958
Distributions and other					(22,233)	(22,253)	(22,585)
Ending balance	$ 360,702		$ 345,553		$ 360,702	$ 345,553	$ 288,187
Ending balance, Units	8,595		8,595		8,595	8,595	8,613

Consolidated Statements of Ca_2

Consolidated Statements of Capital (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement Of Partners Capital [Abstract]
Distributions per common unit	$ 2.52	$ 2.32	$ 2.12

Description of the Business

Description of the Business	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Description of the Business	NOTE 1. DESCRIPTION OF THE BUSINESS Prologis, Inc. (or the “Parent”) commenced operations as a fully integrated real estate company in 1997, elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code” or “IRC”), and believes the current organization and method of operation will enable it to maintain its status as a REIT. The Parent is the general partner of Prologis, L.P. (or the “Operating Partnership” or “OP”). Through the OP, we are engaged in the ownership, acquisition, development and management of logistics facilities with a focus on key markets in 19 countries on four continents. We invest in real estate through wholly owned subsidiaries and other entities through which we co-invest with partners and investors. We maintain a significant level of ownership in these co-investment ventures, which may be consolidated or unconsolidated based on our level of control of the entity. Our current business strategy consists of two operating business segments: Real Estate Operations and Strategic Capital. Our Real Estate Operations segment represents the ownership and development of logistics properties. Our Strategic Capital segment represents the management of unconsolidated co-investment ventures and other ventures. See Note 17 for further discussion of our business segments. Unless otherwise indicated, the Notes to the Consolidated Financial Statements apply to both the Parent and the OP. The terms “the Company,” “Prologis,” “we,” “our” or “us” means the Parent and OP collectively. For each share of preferred or common stock the Parent issues, the OP issues a corresponding preferred or common partnership unit, as applicable, to the Parent in exchange for the contribution of the proceeds from the stock issuance. At December 31, 2021, the Parent owned a 97.32% common general partnership interest in the OP and substantially all of the preferred units in the OP. The remaining 2.68% common limited partnership interests, which include Class A common limited partnership units (“Class A Units”) in the OP, are owned by unaffiliated investors and certain current and former directors and officers of the Parent. Each partner’s percentage interest in the OP is determined based on the number of OP units held, including the number of OP units into which Class A Units are convertible, compared to total OP units outstanding at each period end and is used as the basis for the allocation of net income or loss to each partner. At the end of each reporting period, a capital adjustment is made in the OP to reflect the appropriate ownership interest for each of the common unitholders. These adjustments are reflected in the line items Reallocation of Equity Reallocation of Capital As the sole general partner of the OP, the Parent has complete responsibility and discretion in the day-to-day management and control of the OP and we operate the Parent and the OP as one enterprise. The management of the Parent consists of the same members as the management of the OP. These members are officers of the Parent and employees of the OP or one of its subsidiaries. As general partner with control of the OP, the Parent is the primary beneficiary and therefore consolidates the OP. Because the Parent’s only significant asset is its investment in the OP, the assets and liabilities of the Parent and the OP are the same on their respective financial statements. Information with respect to the square footage, number of buildings and acres of land is unaudited.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation. The accompanying Consolidated Financial Statements are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) and are presented in our reporting currency, the U.S. dollar. Intercompany transactions with consolidated entities have been eliminated. Consolidation. We consolidate all entities that are wholly owned and those in which we own less than 100% of the equity but control, as well as any variable interest entities (“VIEs”) in which we are the primary beneficiary. We evaluate our ability to control an entity and whether the entity is a VIE and we are the primary beneficiary through consideration of substantive terms of the arrangement to identify which enterprise has the power to direct the activities of the entity that most significantly impact the entity’s economic performance and the obligation to absorb losses and the right to receive benefits from the entity. For entities that are not defined as VIEs, we first consider whether we are the general partner or the limited partner (or the equivalent in such investments that are not structured as partnerships). We consolidate entities in which we are the general partner and the limited partners in such entities do not have rights that would preclude control. For entities in which we are the general partner but do not control the entity as the other partners hold substantive participating or kick-out rights, we apply the equity method of accounting since, as the general partner, we have the ability to exercise significant influence over the operating and financial policies of the venture. For ventures for which we are a limited partner, or our investment is in an entity that is not structured similar to a partnership, we consider factors such as ownership interest, voting control, authority to make decisions and contractual and substantive participating rights of the partners. In instances where the factors indicate that we have a controlling financial interest in the venture, we consolidate the entity. Use of Estimates. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. Although we believe the assumptions and estimates we made are reasonable and appropriate, as discussed in the applicable sections throughout the Consolidated Financial Statements, different assumptions and estimates could materially impact our reported results. Foreign Operations. The U.S. dollar is the functional currency for our consolidated subsidiaries and unconsolidated entities operating in the U.S. and Mexico. The functional currency for our consolidated subsidiaries and unconsolidated entities operating in other countries is the principal currency in which the entity’s assets, liabilities, income and expenses are denominated, which may be different from the local currency of the country of incorporation or where the entity conducts its operations. The functional currencies of entities outside of the U.S. and Mexico generally include the Brazilian real, British pound sterling, Canadian dollar, Chinese renminbi, euro, Japanese yen, Singapore dollar and Swedish krona. We take part in business transactions denominated in these and other local currencies where we operate. For our consolidated subsidiaries whose functional currency is not the U.S. dollar, we translate their financial statements into U.S. dollars at the time we consolidate those subsidiaries’ financial statements. Generally, assets and liabilities are translated at the exchange rate in effect at the balance sheet date. The resulting translation adjustments are included in Accumulated Other Comprehensive Income (Loss) AOCI/L We and certain of our consolidated subsidiaries have intercompany and third-party debt that is not denominated in the entity’s functional currency. When the debt is remeasured against the functional currency of the entity, a gain or loss can result. The resulting adjustment is reflected in Foreign Currency and Derivative Gains (Losses), Net AOCI/L Acquisitions. We apply a screen test to evaluate if substantially all the fair value of the acquired property is concentrated in a single identifiable asset or group of similar identifiable assets to determine whether a transaction is accounted for as an asset acquisition or business combination. As most of our real estate acquisitions are concentrated in either a single or a group of similar identifiable assets, our real estate transactions are generally accounted for as asset acquisitions, which permits the capitalization of transaction costs to the basis of the acquired property. We measure the real estate assets acquired through an asset acquisition based on their cost or total consideration exchanged and any excess consideration or bargain purchase amount is allocated to the real estate properties and related lease intangibles on a relative fair value basis . All other assets and liabilities assumed, including debt, and real estate assets that we do not intend to operate long-term are recorded at fair value. At a property-level, we allocate the fair value to the components which include building, land, improvements, and intangible assets or liabilities related to acquired leases. Purchase price allocations for a business combination are recorded at fair value. When we obtain control of an unconsolidated entity and the acquisition qualifies as a business combination, we account for the acquisition in accordance with the guidance for a business combination achieved in stages. We remeasure our previously held interest in the unconsolidated entity at its acquisition-date fair value and recognize any resulting gain or loss in earnings. We allocate the purchase price using primarily Level 2 and Level 3 inputs (further defined in Fair Value Measurements below) as follows: Investments in Real Estate Properties. We value operating properties as if vacant. We estimate fair value by applying an income approach methodology using either a discounted cash flow analysis or applying a capitalization rate to the estimated Net Operating Income (“NOI”) of a property. Key assumptions include market rents, growth rates, and discount and capitalization rates. Estimates of future cash flows are based on a number of factors including historical operating results, known trends and market and economic conditions. We determine the discount or capitalization rate by market based on recent transactions and other market data and adjust if necessary, based on the property characteristics. The fair value of land is generally based on relevant market data, such as a comparison of the subject site to similar parcels that have recently been sold or are currently being offered on the market for sale. At a property level, we allocate the fair value to land and building. Lease Intangibles . We determine the portion of the purchase price related to acquired in-place leases as intangible assets and liabilities as follows: • Above and Below Market Leases . We recognize an asset or liability for acquired leases with favorable or unfavorable in-place rents as compared to our estimate of current market rents of the applicable markets. The above or below market lease intangibles are valued using a discounted cash flow approach through which we recognize the present value of the difference in cash flows between in-place and market rents. The value is recorded in either Other Assets or Other Liabilities , as appropriate, and is amortized over the remaining term of the respective leases, including any bargain renewal options, to rental revenues. • Foregone Rent . We calculate the value of the revenue and recovery of costs foregone during a reasonable lease-up period, as if the space was vacant, in each of the applicable markets. The values are recorded in Other Assets and amortized over the remaining life of the respective leases to amortization expense. • Leasing Commissions. We recognize an asset for leasing commissions based on our estimate of the cost to lease space in the applicable markets. The value is recorded in Other Assets and amortized over the remaining life of the respective leases to amortization expense. Investments in Unconsolidated Entities. We estimate the fair value of the entity by using similar valuation methods as those used for the consolidated real estate properties and debt. We apply our ownership percentage to the estimated net asset value of the entity to determine the fair value of our investment. Debt . We estimate the fair value of debt based on contractual future cash flows discounted using borrowing spreads and market interest rates that would be available to us for the issuance of debt with similar terms and remaining maturities. In the case of publicly traded debt, we estimate the fair value based on available market data. Any discount or premium to the principal amount is included in the carrying value and amortized to interest expense over the remaining term of the related debt using the effective interest method. Noncontrolling Interests . We estimate the portion of the fair value of the net assets owned by third parties based on the fair value of the consolidated net assets, principally real estate properties and debt. Working Capital . We estimate the fair value of other acquired assets and assumed liabilities using the best information available. Fair Value Measurements. The objective of fair value is to determine the price that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price). We estimate fair value using available market information and valuation methodologies we believe to be appropriate for these purposes. Considerable judgment and a high degree of subjectivity are involved in developing these estimates and, accordingly, they are not necessarily indicative of amounts that we would realize on disposition. The fair value hierarchy consists of three broad levels: • Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date. • Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 — Unobservable inputs for the asset or liability. Fair Value Measurements on a Recurring Basis. We estimate the fair value of our financial instruments using available market information and valuation methodologies we believe to be appropriate for these purposes. We determine the fair value of our derivative financial instruments using widely accepted valuation techniques. The technique utilized depends on the type of derivative financial instrument being valued, principally foreign currency forwards and interest rate swaps, and involves the contractual term of the derivative, observable market-based inputs and implied volatilities. We determine the fair values of our interest rate swaps using a market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments through a discounted cash flow analysis. We base the variable cash payments on an expectation of future interest rates, or forward curves, derived from observable market interest rate curves through the contractual term of the debt. We determine the fair values of our foreign currency forwards by comparing the contracted forward exchange rate to the current market exchange rate. We build a foreign exchange forward curve to determine the foreign exchange forward rate that pertains to the specific maturity date. Using this foreign exchange forward rate, spot rates and the interest rate curve of the domestic currency as inputs, we calculate the mark-to-market value of the forward. We incorporate credit valuation adjustments to appropriately reflect nonperformance risk for us and the respective counterparty in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we consider the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. We have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy. Although the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties, we assess the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivatives. Fair Value Measurements on a Nonrecurring Basis. Assets measured at fair value on a nonrecurring basis generally consist of real estate assets and investments in unconsolidated entities that were subject to impairment charges due to our evaluation of recoverability whenever events or changes in circumstances indicate the carrying amount may not be recoverable. As discussed below, our analysis of recoverability is primarily triggered based on the shortening of the expected hold period due to our change in intent to sell a property in the near term. We estimate the fair value of our investments based on expected sales prices in the market (Level 2) or by applying the income approach methodology using a discounted cash flow analysis (Level 3). Fair Value of Financial Instruments. We estimate the fair value of our senior notes for disclosure purposes based on quoted market prices for the same (Level 1) or similar (Level 2) issues when current quoted market prices are available. We estimate the fair value of our credit facilities, term loans, secured mortgage debt and other debt by discounting the future cash flows using rates and borrowing spreads currently available to us (Level 3). Real Estate Assets. Real estate assets are carried at depreciated cost. We capitalize costs incurred in developing, redeveloping and improving real estate assets as part of the investment basis. We expense costs for repairs and maintenance as incurred. Depreciation and Amortization. We charge the depreciable portions of real estate assets to depreciation expense on a straight-line basis over the respective estimated useful lives. Depreciation on development buildings commences when the asset is ready for its intended use, which we define as the earlier of stabilization (90% occupied) or one year after completion of construction. We generally use the following useful lives: 5 to 7 years for capital improvements, 10 years for standard tenant improvements, 15 to 25 years for depreciable land improvements, 25 to 35 years for operating properties acquired based on the age of the building and 40 years for operating properties we develop. We depreciate building improvements on land parcels subject to land leases over the shorter of the estimated life of the building improvement or the contractual term of the underlying land lease. Capitalized leasing costs are amortized over the estimated remaining lease term. Our weighted average lease term on leases commenced during 2021, based on square feet for all leases, was 62 months. Capitalization of Costs. During the land development and construction periods of qualifying projects, we capitalize interest costs, insurance, real estate taxes and general and administrative costs of the personnel performing the development; if such costs are incremental and identifiable to a specific activity to ready the asset for its intended use. We capitalize transaction costs related to the acquisition of land for future development and operating properties that qualify as asset acquisitions. We capitalize incremental, third-party costs incurred to successfully originate a lease that result directly from obtaining a lease and would not have been incurred if the lease had not been obtained. Beginning on January 1, 2019, we no longer capitalize internal costs related to our leasing activities and amounts capitalized prior to adoption continue to be amortized in accordance with previously applicable guidance. Leasing costs that meet the requirements for capitalization are presented as a component of and all other capitalized costs are included in the investment basis of the real estate assets. Recoverability of Real Estate Assets. We assess the carrying values of our respective long-lived assets whenever events or changes in circumstances indicate that the carrying amounts of these assets may not be fully recoverable. This assessment is primarily triggered based on the shortening of the expected hold period due to our change in intent to sell a property in the near term. We have processes to monitor our intent with regard to our investments and the estimated disposition value in comparison to the current carrying value. If our assessment of potential triggering events indicates that the carrying value of a property that we expect to sell in the near term is not recoverable, we recognize an impairment charge for the amount by which the carrying value exceeds the current estimated fair value of the property. We determine the fair value of the property based on the proceeds from disposition that are estimated based on quoted market values, third-party appraisals or discounted cash flow models that utilize the future net rental income of the property and expected market capitalization rates. The use of projected future cash flows is based on assumptions that are consistent with our estimates of future expectations and the strategic plan we use to manage our underlying business. Changes in economic and operating conditions could impact our intent and the assumptions used in determining the fair value that could result in future impairment. At least annually or more frequently given the presence of a triggering event, we measure the recoverability of our assets. We compare the carrying amount of the asset to the fair value based on our intent as follows: • for real estate properties that we intend to hold long-term; including land held for development, properties currently under development and operating properties; recoverability is assessed based on the estimated undiscounted future net rental income from operating the property and the terminal value, including anticipated costs to develop; • for real estate properties we intend to sell, including properties currently under development and operating properties; recoverability is assessed based on proceeds from disposition that are estimated based on the future net rental income of the property, expected market capitalization rates and anticipated costs to develop; • for land parcels we intend to sell, recoverability is assessed based on the estimated proceeds from disposition; and • for costs incurred related to the potential acquisition of land and operating properties and future development projects, recoverability is assessed based on the probability that the acquisition or development is likely to occur at the measurement date. Assets Held for Sale or Contribution. We classify a property as held for sale or contribution when certain criteria are met in accordance with GAAP. Assets classified as held for sale are expected to be sold to a third party and assets classified as held for contribution are generally newly developed assets we intend to contribute to an unconsolidated co-investment venture within twelve months. When the criteria are met, the respective assets and liabilities are presented separately in the Consolidated Balance Sheets and depreciation is not recognized. Assets held for sale or contribution are reported at the lower of carrying amount or estimated fair value less costs to sell. Investments in Unconsolidated Entities. We present our investments in certain entities under the equity method. We use the equity method when we have the ability to exercise significant influence over operating and financial policies of the venture but do not have control of the entity. Under the equity method, we initially recognize these investments (including advances) in the balance sheet at our cost, including formation costs and net of deferred gains from the contribution of properties (recognized prior to January 1, 2018), if applicable. The transaction costs related to the formation of equity method investments are also capitalized. We subsequently adjust the accounts to reflect our proportionate share of net earnings or losses recognized and accumulated other comprehensive income or loss, distributions received, contributions made , sales and redemptions of our investments and certain other adjustments, as appropriate. When circumstances indicate there may have been a reduction in the value of an equity investment, we evaluate whether the loss in value is other than temporary. If we conclude it is other than temporary, we recognize an impairment charge to reflect the equity investment at fair value. With regard to distributions from unconsolidated entities, we have elected the nature of distribution approach as the information is available to us to determine the nature of the underlying activity that generated the distributions. In accordance with the nature of distribution approach, cash flows generated from the operations of an unconsolidated entity are classified as a return on investment (cash inflow from operating activities) and cash flows that are generated from property sales, debt refinancing or sales and redemptions of our investments are classified as a return of investment (cash inflow from investing activities). Cash and Cash Equivalents. We consider all cash on hand, demand deposits with financial institutions and short-term highly liquid investments with original maturities of three months or less to be cash equivalents. Our cash and cash equivalents are financial instruments that are exposed to concentrations of credit risk. We invest our cash with high-credit quality institutions both domestically and internationally. Cash balances may be invested in money market accounts that are not insured. We have not realized any losses of such cash investments or accounts and believe that we are not exposed to any significant credit risk. Derivative Financial Instruments. We primarily hedge our foreign currency risk by borrowing in the currencies in which we invest. We may use derivative financial instruments, such as foreign currency forward and option contracts to manage foreign currency exchange rate risk related to both our foreign investments and the related earnings. In addition, we occasionally use interest rate swap and forward contracts to manage interest rate risk and limit the impact of future interest rate changes on earnings and cash flows, primarily with variable-rate debt. We do not use derivative financial instruments for trading or speculative purposes. Each derivative transaction is customized and not exchange-traded. We recognize all derivatives at fair value within the line items Other Assets Other Liabilities Designated Derivatives. We may choose to designate our derivative financial instruments, generally foreign currency forwards to hedge our net investment in foreign operations or interest rate swaps to hedge future interest payments on variable debt. At inception of the transaction, we formally designate and document the derivative financial instrument as a hedge of a specific underlying exposure, the risk management objective and the strategy for undertaking the hedge transaction. We formally assess both at inception and at least quarterly thereafter, the effectiveness of our hedging transactions. Due to the high degree of effectiveness between the hedging instruments and the underlying exposures hedged, fluctuations in the value of the derivative financial instruments will generally be offset by changes in the cash flows or fair values of the underlying exposures being hedged. Changes in the fair value of derivatives that are designated and qualify as net investment hedges of our foreign operations and cash flow hedges are recorded in AOCI/L AOCI/L Foreign Currency and Derivative Gains (Losses), Net For cash flow hedges, we report the effective portion of the gain or loss as a component of AOCI/ Interest Expense Interest Expense AOCI/L Interest Expense Undesignated Derivatives. We also use derivatives, such as foreign currency forwards and option contracts, that are not designated as hedges to manage foreign currency exchange rate risk related to the translation of our results of operations. The changes in fair values of these derivatives that were not designated as hedging instruments are immediately recognized in earnings within the line item . These gains or losses are generally offset by lower or higher earnings due to the translation at exchange rates that were different than our expectations. In addition, we may choose to not designate our interest rate swap contracts . If a swap contract is not designated as a hedge, the changes in fair value of these instruments is immediately recognized in earnings within the line item Interest Expense in the Consolidated Statements of Income . Noncontrolling Interests. Noncontrolling interests represent the share of consolidated entities owned by third parties. We recognize each noncontrolling holder’s respective share of the estimated fair value of the net assets at the date of formation or acquisition. Noncontrolling interests are subsequently adjusted for the noncontrolling holder’s share of additional contributions, distributions and their share of the net earnings or losses of each respective consolidated entity. We allocate net income to noncontrolling interests based on the weighted average ownership interest during the period. The net income that is not attributable to us is reflected in the line item Net Earnings Attributable to Noncontrolling Interests . We do not recognize a gain or loss on transactions with a consolidated entity in which we do not own 100% of the equity and recognize the difference between the carrying amount of the noncontrolling interest and the consideration paid or received as additional paid-in-capital Certain limited partnership interests, including OP units, are exchangeable into our common stock. Common stock issued upon exchange of a holder’s noncontrolling interest is accounted for at the carrying value of the surrendered limited partnership interest and the difference between the carrying value and the fair value of the common stock issued is recorded to additional paid-in-capital. Revenue Recognition. Rental Revenues and Recoveries. We lease our operating properties to customers under agreements that are classified as operating leases. We recognize the total minimum lease payments provided for under the leases on a straight-line basis over the lease term. Generally, under the terms of our leases, the majority of our rental expenses are recovered from our customers, including common area maintenance, real estate taxes and insurance. Rental expenses recovered through reimbursements received from customers are recognized in in the Consolidated Statements of Income. We generally record amounts reimbursed by our customers (“rental recoveries”) as revenues in the period that the applicable expenses are incurred. We account for and present rental revenue and rental recoveries as a single component under as the timing of recognition is the same, the pattern with which we transfer the right of use of the property and related services to the lessee are both on a straight-line basis and our leases qualify as operating leases. We perform credit analyses of our customers prior to the execution of our leases and continue these analyses for each individual lease on an ongoing basis in order to ensure the collectability of rental revenue. We recognize revenue to the extent that amounts are determined to be collectible. Strategic Capital Revenues. Strategic capital revenues include revenues we earn from the management services we provide to unconsolidated entities. These fees are determined in accordance with the terms specific to each arrangement and may include recurring fees such as asset management and property management fees or transactional fees for leasing, acquisition, development, construction, financing and tax services provided. We recognize these fees as we provide the services or on a cost basis for development fees. We may also earn incentive returns (“promotes” or “promote revenues”) based on a venture’s cumulative returns over a certain time-period and the returns are determined by both the operating performance and real estate valuation of the venture, including highly variable inputs such as capitalization rates, market rents, interest rates and foreign currency exchange rates. As these key inputs are highly volatile and out of our control, and such volatility can materially impact our promotes period over period, we recognize promote revenues at the end of the performance period. We generally earn promote revenue directly from third-party investors in the co-investment ventures. We include the third-party investors’ share of promotes in Strategic Capital Revenues. We also earn fees from ventures that we consolidate. Upon consolidation, these fees are eliminated from our earnings and the third-party investors’ share of these fees are recognized as a reduction of Net Earnings Attributable to Noncontrolling Interests. Development Management and Other Revenues. Development management and other revenues principally include development and construction management fees and are recognized as we provide the services or on a cost basis. Gains on Real Estate Transactions, Net. T hroughout the Notes to the Consolidated Financial Statements, Gains on Real Estate Transactions, Net Gains on Dispositions of Development Properties and Land, Net Gains on Other Dispositions of Investments in Real Estate, Net We recognize gains on the disposition of real estate when control transfers to the buyer, generally when consideration and title are exchanged and the risks and rewards of ownership transfer. We recognize losses from the disposition of real estate when known. Beginning January 1, 2018 with the adoption of the new revenue recognition guidance, we recognize the entire gain attributed to contributions of real estate properties to unconsolidated entities. We previously recognized a gain on contribution only to the extent of the third-party ownership in the unconsolidated entity acquiring the property and deferred the portion of the gain related to our ownership through a reduction to our investment in the applicable unconsolidated entity. We adjusted our proportionate share of net earnings or losses recognized in future periods to reflect the entities’ recorded depreciation expense as if it were computed on our lower basis in the contributed properties rather than on the entity’s basis. Gains on Dispositions of Development Properties and Land, Net. We present gains separately based on the type of real estate sold or contributed. We present gains on sales to third parties or contributions to our unconsolidated entities as when the property was included in our land portfolio or when we developed the property with the intent to sell or contribute. Gains on Other Dispositions of Investments in Real Estate, Net. We present all other gains on sales to third parties or contributions to our unconsolidated entities of primarily operating properties and other real estate transactions as . We also include gains or losses on the remeasurement of equity investments to fair value upon acquisition of a controlling interest and the transaction is considered the acquisition of a business and gains or losses upon the partial redemption or sale of our investment in an unconsolidated entity. Rental Expenses. Rental expenses principally include the cost of our property management personnel, utilities, repairs and maintenance, property insurance, real estate taxes and the other costs of managing our properties. Beginning January 1, 2019, certain indirect costs, such as salaries and related costs for employees working on leasing activities for our properties are now expensed through Rental Expenses. We are also a lessee of land under leases which generally meet the criteria to be accounted for as opera

Liberty Transaction

Liberty Transaction	12 Months Ended
	Dec. 31, 2021
Business Combinations [Abstract]
Liberty Transaction	NOTE 3. 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, the assumption of debt of $2.8 billion and 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 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 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 of $115.8 million 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 and related lease intangibles on a relative fair value basis. All other assets acquired and liabilities assumed, including debt, and real estate assets that we do not intend to operate long-term were recorded at fair value as follows (in millions): Net investments in real estate $ 12,636 Intangible assets, net of intangible liabilities 491 Cash and other assets 233 Debt (2,845 ) Accounts payable, accrued expenses and other liabilities (383 ) Noncontrolling interests (1 ) Total purchase price, including transaction costs $ 10,131

Real Estate

Real Estate	12 Months Ended
	Dec. 31, 2021
Real Estate [Abstract]
Real Estate	NOTE 4. REAL ESTATE Investments in real estate properties consisted of the following at December 31 (dollars and square feet in thousands): Square Feet Number of Buildings 2021 2020 2021 2020 2021 2020 Operating properties: Buildings and improvements 444,413 441,336 2,310 2,261 $ 32,159,514 $ 31,489,943 Improved land 12,294,246 12,017,676 Development portfolio, including land costs: Prestabilized 6,325 6,076 16 24 710,091 553,266 Properties under development 28,638 22,004 83 61 2,019,249 1,329,345 Land (1) 2,519,590 1,606,358 Other real estate investments (2) 3,302,500 3,387,740 Total investments in real estate properties 53,005,190 50,384,328 Less accumulated depreciation 7,668,187 6,539,156 Net investments in real estate properties $ 45,337,003 $ 43,845,172 (1) At December 31, 2021 and 2020, our land was comprised of 6,227 and 5,304 acres, respectively. (2) Included in other real estate investments were: (i) non-strategic real estate assets acquired that we do not intend to operate long-term; (ii) real estate assets that we intend to redevelop into industrial properties; (iii) land parcels we own and lease to third parties; and (iv) costs associated with potential acquisitions and future development projects, including purchase options on land. At December 31, 2021, we had investments in real estate assets in the U.S. and other Americas (Brazil, Canada and Mexico), Europe (Belgium, the Czech Republic, France, Germany, Hungary, Italy, the Netherlands, Poland, Slovakia, Spain, Sweden and the United Kingdom (“U.K.”)) and Asia (Japan and Singapore). Acquisitions The following table summarizes our real estate acquisition activity, excluding the Liberty Transaction as discussed in Note 3, for the years ended December 31 (dollars and square feet in thousands): 2021 (1) 2020 (2) 2019 Number of operating properties 31 150 22 Square feet 6,760 21,874 1,405 Acquisition cost of net investments in real estate, excluding land (3) $ 1,590,457 $ 2,820,692 $ 633,923 Acres of land 2,684 830 1,269 Acquisition cost of land $ 1,452,686 $ 439,773 $ 440,892 (1) In 2021, we acquired additional ownership interest in unconsolidated other ventures from our partners and began consolidating the real estate assets. (2) 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, LLC (“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 we consolidate USLV, the number of operating properties, square feet and acquisition cost for the properties acquired by USLV are included in the consolidated acquisition activity. (3) The acquisition cost of net investments in real estate includes other real estate investments of $525.5 million, $206.1 million and $302.9 million during the years ended December 31, 2021, 2020 and 2019, respectively. Other real estate investments are not included in the number of operating properties and square feet Dispositions The following table summarizes our dispositions of net investments in real estate which include contributions to unconsolidated co-investment ventures and dispositions to third parties for the years ended December 31 (dollars and square feet in thousands): 2021 2020 2019 Dispositions of development properties and land, net (1) Number of properties 41 41 31 Square feet 16,482 14,482 10,027 Net proceeds $ 2,629,750 $ 1,693,557 $ 1,533,055 Gains on dispositions of development properties and land, net $ 817,017 $ 464,942 $ 467,577 Other dispositions of investments in real estate, net (2)(3) Number of properties 97 61 66 Square feet 20,806 10,562 15,816 Net proceeds $ 2,536,622 $ 1,264,692 $ 1,492,212 Gains on contributions and dispositions, net $ 772,570 $ 252,195 $ 255,219 Gains on partial redemptions of investment in an unconsolidated co-investment venture (4) $ - $ - $ 135,022 Total gains on other dispositions of investments in real estate, net $ 772,570 $ 252,195 $ 390,241 (1) The gains we recognize in Gains on Dispositions of Development Properties and Land, Net are primarily driven by the contribution of newly developed properties to our unconsolidated co-investment ventures and occasionally sales to a third party. (2) In 2021, we sold our ownership interest in an unconsolidated other venture. (3) In 2019, we formed Prologis Brazil Logistics Venture (“PBLV”), a Brazilian unconsolidated co-investment venture, with one partner. We contributed an initial portfolio of real estate properties to PBLV consisting of 14 operating properties totaling 6.9 million square feet and 371 acres of land. We received cash proceeds and units for our 20% equity interest (4) In 2019, we redeemed a portion of our investment in a European unconsolidated co-investment venture. Leases As a Lessor We lease our operating properties to customers under agreements that are classified primarily as operating leases. We recognize the total minimum lease payments provided for under the leases on a straight-line basis over the lease term. Our weighted average lease term remaining was 51 months based on square feet for all leases in effect at December 31, 2021. The following table summarizes the minimum lease payments due from our customers on leases for space in our operating properties, prestabilized and under development properties, other real estate investments and assets held for sale or contribution at December 31, 2021 (in thousands): 2022 $ 3,160,098 2023 2,990,115 2024 2,605,766 2025 2,223,715 2026 1,791,256 Thereafter 6,462,209 Total $ 19,233,159 These amounts do not reflect future rental revenue from the renewal or replacement of existing leases and exclude reimbursements of operating expenses and rental increases that are not fixed. As a Lessee We had approximately 120 and 130 land and office space leases in which we were the lessee at December 31, 2021 and 2020, respectively, which primarily qualify as operating leases with remaining lease terms of 1 to 88 years at December 31, 2021. Our lease liabilities were $448.4 million and $487.0 million at December 31, 2021 and 2020, respectively. The following table summarizes the fixed, future minimum rental payments, excluding variable costs, for leases that had commenced at December 31, 2021, with amounts discounted by our incremental borrowing rates to calculate the lease liabilities of our leases (in thousands): 2022 $ 49,740 2023 47,453 2024 46,823 2025 43,293 2026 30,708 Thereafter 580,056 Total undiscounted rental payments 798,073 Less imputed interest 349,628 Total lease liabilities $ 448,445 The weighted average remaining lease term for these leases was 28 and 34 years at December 31, 2021 and 2020, respectively. We do not include renewal options in the lease term for calculating the lease liability unless we are reasonably certain we will exercise the option or the lessor has the sole ability to exercise the option. The weighted average incremental borrowing rate was 3.2% and 3.4% at December 31, 2021 and 2020, respectively. We assigned a collateralized interest rate to each lease based on the term of the lease and the currency in which the lease was denominated.

Unconsolidated Entities

Unconsolidated Entities	12 Months Ended
	Dec. 31, 2021
Equity Method Investments And Joint Ventures [Abstract]
Unconsolidated Entities	NOTE 5. UNCONSOLIDATED ENTITIES Summary of Investments We have investments in entities through a variety of ventures. We co-invest in entities that own multiple properties with partners and investors and we provide asset management and property management services to these entities, which we refer to as co-investment ventures. These entities may be consolidated or unconsolidated depending on the structure, our partner’s participation and other rights and our level of control of the entity. This note details our investments in unconsolidated co-investment ventures, which are related parties and accounted for using the equity method of accounting. See Note 11 for more detail regarding our consolidated investments that are not wholly owned. We also have investments in other ventures, generally with one partner, which we account for using the equity method. We refer to our investments in both unconsolidated co-investment ventures and other ventures, collectively, as unconsolidated entities. The following table summarizes our investments in and advances to unconsolidated entities at December 31 (in thousands): 2021 2020 Unconsolidated co-investment ventures $ 7,825,455 $ 6,685,567 Other ventures (1) 785,503 916,447 Total $ 8,610,958 $ 7,602,014 (1) In 2021, we acquired additional ownership interest in unconsolidated other ventures from our partners and began consolidating the real estate assets. We also sold our ownership interest in an unconsolidated other venture. Unconsolidated Co-Investment Ventures The following table summarizes our investments in the individual co-investment ventures at December 31 (dollars in thousands): Ownership Percentage Investment in and Advances to Co-Investment Venture 2021 2020 2021 2020 Prologis Targeted U.S. Logistics Fund, L.P. (“USLF”) 27.0 % 25.6 % $ 2,393,232 $ 1,885,467 FIBRA Prologis (1) 47.3 % 46.8 % 694,590 691,204 Prologis European Logistics Partners Holding Sàrl (“PELP”) (2) (3) 50.0 % 50.0 % 2,097,332 1,687,749 Prologis European Logistics Fund (“PELF”) (3) 23.8 % 24.3 % 1,605,253 1,401,355 Prologis UK Logistics Venture (“UKLV”) (2) (3) 15.0 % 15.0 % 9,243 63,228 Nippon Prologis REIT, Inc. (“NPR”) (4) 15.1 % 15.1 % 684,029 643,663 Prologis China Core Logistics Fund, LP (“PCCLF”) 15.3 % 15.8 % 75,922 81,581 Prologis China Logistics Venture I, LP, II, LP and III, LP (“Prologis China Logistics Venture”) (2) 15.0 % 15.0 % 120,283 111,406 Prologis Brazil Logistics Venture (“PBLV”) and other joint ventures (2) 20.0 % 20.0 % 145,571 119,914 Total $ 7,825,455 $ 6,685,567 (1) At December 31, 2021, we owned 404.6 million units of FIBRA Prologis that had a closing price of Ps 56.83 ($2.77) per unit on the Mexican Stock Exchange. We have granted FIBRA Prologis a right of first refusal with respect to stabilized properties that we plan to sell in Mexico. (2) We have one partner in each of these co-investment ventures. (3) In December 2021, UKLV sold its operating properties to our unconsolidated co-investment ventures, PELF and PELP, and its land to us and recognized the related gains upon disposition. At December 31, 2021, there is a $9.2 million outstanding receivable balance anticipated to be paid in the first quarter of 2022 (4) At December 31, 2021, we owned 0.4 million units of NPR that had a closing price of ¥407,000 ($3,536) per share on the Tokyo Stock Exchange. For any properties we develop and plan to sell in Japan, we have committed to offer those properties to NPR if we determine the properties meet NPR’s investment objectives. At December 31, 2021 and 2020, we had receivables from NPR of $175.2 million and $160.3 million, respectively, related to customer security deposits that originated through a leasing company owned by us that pertain to properties previously contributed to NPR. We have a corresponding payable to NPR’s customers in Other Liabilities The amounts recognized in Strategic Capital Revenues Earnings from Unconsolidated Entities, Net Strategic Capital Expenses The following table summarizes the Strategic Capital Revenues 2021 2020 2019 Recurring fees $ 395,765 $ 318,423 $ 266,615 Transactional fees 78,552 65,804 57,334 Promote revenue 77,199 239,268 165,635 Total strategic capital revenues from unconsolidated co-investment ventures (1) $ 551,516 $ 623,495 $ 489,584 (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 on a U.S. GAAP basis (not our proportionate share) and the amounts we recognized in the Consolidated Financial Statements related to these ventures at December 31 and for the years ended December 31 (dollars and square feet in millions): U.S. Other Americas (1) Europe Asia Total At: 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 Key property information: Ventures 1 1 2 2 2 3 3 3 8 9 Operating properties 732 706 254 229 818 768 203 167 2,007 1,870 Square feet 122 117 56 51 198 185 82 67 458 420 Financial position: Total assets ($) 11,619 10,840 3,349 3,023 18,373 16,918 10,746 10,209 44,087 40,990 Third-party debt ($) 3,069 3,129 1,052 854 3,737 4,002 4,157 3,831 12,015 11,816 Total liabilities ($) 3,717 3,722 1,116 898 5,619 5,607 4,685 4,389 15,137 14,616 Our investment balance ($) (2) 2,393 1,886 840 811 3,712 3,152 880 837 7,825 6,686 Our weighted average ownership (3) 27.0 % 25.6 % 40.8 % 40.8 % 30.9 % 30.0 % 15.1 % 15.2 % 26.9 % 26.1 % U.S. Other Americas (1) Europe Asia Total Operating Information: 2021 2020 2019 2021 2020 2019 2021 2020 2019 2021 2020 2019 2021 2020 2019 For the years ended: Total revenues ($) 1,039 946 738 321 278 266 1,387 1,208 1,099 653 584 514 3,400 3,016 2,617 Net earnings ($) 312 169 128 120 91 91 1,070 390 311 160 255 49 1,662 905 579 Our earnings from unconsolidated co-investment ventures, net ($) 82 46 38 43 34 32 214 121 102 27 39 10 366 240 182 (1) PBLV and our other Brazilian joint ventures are combined as one venture for the purpose of this table. (2) Prologis’ investment balance is presented at our adjusted basis. The difference between our ownership interest of a venture’s equity and our investment balance at December 31, 2021 and 2020, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018 ($559.7 million and $589.3 million, respectively); (ii) recording additional costs associated with our investment in the venture ($96.6 million and $101.5 million, respectively); (iii) receivables, principally for fees and promotes ($149.5 million and $165.6 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to NPR, as discussed above. (3) 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 Certain unconsolidated co-investment ventures have equity commitments from us and our venture partners. Our venture partners fulfill their equity commitment with cash. We may fulfill our equity commitment through contributions of properties or cash. The contributions are generally used for the acquisition or development of properties but may be used for the repayment of debt or other general uses. The venture may obtain financing for the acquisition of properties and therefore the acquisition price of additional investments that the venture could make may be more than the equity commitment. Depending on market conditions, the investment objectives of the ventures, our liquidity needs and other factors, we may make additional contributions of properties or additional cash investments in these ventures. At December 31, 2021, our outstanding equity commitments were $312.5 million, principally for Prologis China Logistics Venture.

Assets Held for Sale or Contrib

Assets Held for Sale or Contribution	12 Months Ended
	Dec. 31, 2021
Real Estate Assets Held For Development And Sale [Abstract]
Assets Held for Sale or Contribution	NOTE 6. ASSETS HELD FOR SALE OR CONTRIBUTION We had investments in certain real estate properties that met the criteria to be classified as held for sale or contribution at December 31, 2021 and 2020. At the time of classification, these properties were expected to be sold to third parties or were recently stabilized and expected to be contributed to unconsolidated co-investment ventures within twelve months. The amounts included in Assets Held for Sale or Contribution Assets held for sale or contribution consisted of the following at December 31 (dollars and square feet in thousands): 2021 2020 (1) Number of operating properties 14 66 Square feet 5,486 12,923 Total assets held for sale or contribution $ 669,688 $ 1,070,724 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 10,631 $ 16,214 (1) At December 31, 2020, Assets Held for Sale or Contribution included certain properties acquired through the Liberty Transaction and the IPT Transaction that were subsequently sold during 2021.

Other Assets and Other Liabilit

Other Assets and Other Liabilities	12 Months Ended
	Dec. 31, 2021
Text Block [Abstract]
Other Assets and Other Liabilities	NOTE 7. OTHER ASSETS AND OTHER LIABILITIES The following table summarizes our other assets, net of amortization and depreciation, and other liabilities, net of amortization, if applicable, at December 31 (in thousands): 2021 2020 Rent leveling $ 578,960 $ 488,828 Acquired lease intangibles 552,517 726,821 Leasing commissions 520,778 425,995 Lease right-of-use assets (1) 459,364 492,801 Accounts receivable 424,240 189,356 Prepaid assets 153,591 138,726 Value added taxes receivable 133,034 146,270 Fixed assets 118,044 117,700 Derivative assets 91,047 1,667 Other notes receivable 35,970 44,751 Management contracts 12,282 13,610 Deferred income taxes 8,926 5,592 Other 223,701 156,892 Total other assets $ 3,312,454 $ 2,949,009 Lease liabilities (1) $ 448,445 $ 486,972 Tenant security deposits 373,432 342,627 Acquired lease intangibles 198,894 197,807 Unearned rents 164,669 152,536 Income tax liabilities 105,537 86,210 Environmental liabilities 86,920 69,930 Indemnification liability 44,416 45,129 Deferred income 21,699 15,437 Value added taxes payable 17,556 23,959 Liabilities associated with assets held for sale or contribution 10,631 16,214 Derivative liabilities 9,675 36,482 Other 294,315 274,674 Total other liabilities $ 1,776,189 $ 1,747,977 (1) For the amortization of the future minimum rental payments into rental expense and G&A expense on our land and office leases, respectively, refer to Note 4. The following table summarizes the expected future amortization of leasing commissions and forgone rent (included in acquired lease intangibles above) into amortization expense and above and below market leases (included in acquired lease intangibles above) and rent leveling net assets into rental revenues, all based on the balances at December 31, 2021 (in thousands): Amortization Expense Net Decrease (Increase) to Rental Revenues 2022 $ 241,588 $ (53,070 ) 2023 192,651 24,397 2024 151,053 56,904 2025 117,190 75,823 2026 87,226 72,319 Thereafter 199,398 287,882 Total $ 989,106 $ 464,255

Debt

Debt	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	NOTE 8. DEBT All debt is incurred by the OP or its consolidated subsidiaries. The following table summarizes our debt at December 31 (dollars in thousands): 2021 2020 Weighted Average Amount Weighted Average Amount Interest Rate (1) Term (2) Outstanding (3) Interest Rate (1) Term (2) Outstanding (3) Credit facilities 0.8% 1.6 $ 491,393 0.8% 2.0 $ 171,794 Senior notes (4) 1.7% 11.6 14,981,690 2.0% 11.2 14,275,870 Term loans and unsecured other 0.5% 4.2 1,825,195 0.9% 5.6 1,764,311 Secured mortgage (5) 5.1% 4.7 416,776 3.1% 3.0 637,101 Total 1.6% 10.4 $ 17,715,054 1.9% 10.2 $ 16,849,076 (1) The weighted average interest rates presented represent the effective interest rates (including amortization of debt issuance costs and noncash premiums or discounts) at the end of the period for the debt outstanding and include the impact of designated interest rate swaps, which effectively fix the interest rate on certain variable rate debt. (2) The weighted average term represents the remaining maturity in years on the debt outstanding at period end. (3) We borrow in the functional currencies of the countries where we invest. Included in the outstanding balances at December 31 were borrowings denominated in the following currencies: 2021 2020 Weighted Average Interest Rate Amount Outstanding % of Total Weighted Average Interest Rate Amount Outstanding % of Total British pound sterling 2.1 % $ 1,376,807 7.8 % 2.2 % $ 1,019,480 6.1 % Canadian dollar 2.7 % 283,773 1.6 % 2.7 % 285,708 1.7 % Euro 1.0 % 7,408,407 41.8 % 1.4 % 6,549,676 38.8 % Japanese yen 0.9 % 2,878,542 16.2 % 0.8 % 2,877,247 17.1 % U.S. dollar 2.6 % 5,767,525 32.6 % 2.8 % 6,116,965 36.3 % Total 1.6 % $ 17,715,054 100.0 % 1.9 % $ 16,849,076 100.0 % (4) Senior notes are due from February 2022 to June 2061 with effective interest rates ranging from -0.2% to 4.5% at December 31, 2021. (5) Secured mortgage debt is due from October 2022 to September 2033 with effective interest rates ranging from 3.3% to 7.8% at December 31, 2021. The debt was principally secured by 90 operating properties and 1 land parcel with an aggregate undepreciated cost of $1.4 billion at December 31, 2021. Credit Facilities We have a global senior credit facility (the “2019 Global Facility”) under which we may draw in British pound sterling, Canadian dollars, euro, Japanese yen, Mexican pesos January 2023 however, we may extend the maturity date for both facilities by six months on two occasions, subject to the payment of extension fees. We have the ability to increase the 2019 Global Facility to $ 4.5 billion and the 2021 Global Facility to $ 2.0 billion, subject to currency fluctuations and obtaining additional lender commitments . We also have a Japanese yen revolver (the “Yen Credit Facility”) with total commitments of ¥55.0 billion ($477.8 million at December 31, 2021). We have the ability to increase the borrowing capacity of the Yen Credit Facility to ¥75.0 billion ($651.5 million at December 31, 2021), subject to obtaining additional lender commitments. The Yen Credit Facility is initially scheduled to mature in July 2024; however, we may extend the maturity date for one year, subject to the payment of extension fees. We refer to the 2019 Global Facility, the 2021 Global Facility and the Yen Credit Facility, collectively, as our “Credit Facilities.” Pricing for the Credit Facilities, including the spread over the applicable benchmark and the rates applicable to facility fees and letter of credit fees, varies based on the public debt ratings of the OP. Liquidity The following table summarizes information about our available liquidity (dollars in millions): 2021 2020 2019 For the years ended December 31: Weighted average daily interest rate 1.3 % 1.1 % 1.5 % Weighted average daily borrowings $ 60 $ 109 $ 85 Maximum borrowings outstanding at any month-end $ 491 $ 727 $ 257 At December 31: Aggregate lender commitments Credit Facilities $ 4,940 $ 4,119 $ 3,946 Less: Borrowings outstanding 491 172 184 Outstanding letters of credit 7 24 36 Current availability $ 4,442 $ 3,923 $ 3,726 Available term loans - 250 500 Cash and cash equivalents 556 598 1,089 Total liquidity $ 4,998 $ 4,771 $ 5,315 Senior Notes The senior notes are unsecured and our obligations are effectively subordinated in certain respects to any of our debt that is secured by a lien on real property, to the extent of the value of such real property. The senior notes require interest payments be made quarterly, semi-annually or annually. The majority of the senior notes are redeemable at any time at our option, subject to certain prepayment penalties. Such repurchase and other terms are governed by the provisions of indenture agreements, various note purchase agreements or trust deeds. Aggregate Principal Issuance Date Weighted Average Issuance Date Borrowing Currency USD (1) Interest Rate (2) Term (3) Maturity Dates February € 1,350,000 $ 1,639,305 0.7% 14.3 February 2032 – 2041 February $ 400,000 $ 400,000 1.6% 10.1 March 2031 June ¥ 65,000,000 $ 587,441 0.8% 15.4 June 2028 – 2061 December £ 215,000 $ 284,455 2.0% 17.7 December 2033 – 2041 Total $ 2,911,201 1.0% 14.2 Aggregate Principal Redemption Date Weighted Average Redemption Date Borrowing Currency USD (1) Interest Rate (2) Term (3) Maturity Dates March € 599,514 $ 715,700 3.4% 3.0 February 2024 March $ 750,000 $ 750,000 3.8% 4.7 November 2025 Total $ 1,465,700 3.6% 3.8 (1) The exchange rate used to calculate into U.S. dollars was the spot rate at the settlement date. (2) The weighted average interest rate represents the fixed or variable interest rates of the related debt at the issuance or redemption date. (3) The weighted average term represents the remaining maturity in years on the related debt at the issuance or redemption date. In 2021, we used the net proceeds from the issuance of the senior notes to fund the senior note redemptions, repay other indebtedness and for general corporate purposes. Early Extinguishment of Debt Over the last three years, we repurchased or repaid certain debt before the maturity date in an effort to reduce our borrowing costs and extend our debt maturities. As a result, the difference between the recorded debt (including premiums, discounts and related debt issuance costs) and the consideration we paid to retire the debt, including fees, was recognized as gains or losses. Fees associated with the restructuring of debt that meets the modification criteria, along with existing unamortized premium or discount and debt issuance costs, are amortized over the term of the new debt . We recognized $187.5 million, $188.3 million and $16.1 million of losses on the early extinguishment of debt in 2021, 2020 and 2019, respectively. The losses during 2021 and 2020 were driven by the redemption of certain higher interest rate senior notes before their stated maturity. We redeemed $1.5 billion of senior notes in 2021, with stated maturities of 2024 and 2025, and $2.6 billion of senior notes in 2020, with stated maturities between 2021 and 2024. The losses in 2020 included the extinguishment of debt assumed in the Liberty Transaction and the IPT Transaction, which represented the excess of the prepayment penalties over the premium recorded upon assumption of the debt. Term Loans The following table summarizes our outstanding term loans at December 31 (dollars and borrowing currency in thousands): Term Loan Borrowing Currency Issuance Date Lender Commitment at 2021 Amount Outstanding at 2021 Amount Outstanding at 2020 Interest Rate Maturity Date Borrowing Currency USD USD USD 2017 Term Loan (1) USD, EUR, JPY and GBP June 2014 $ 500,000 $ 500,000 $ - $ 250,000 LIBOR + 0.9% May 2021 2015 Canadian Term Loan CAD December 2015 $ 170,506 $ 134,173 134,173 133,837 CDOR + 0.9% February 2023 March 2017 Yen Term Loan JPY March 2017 ¥ 12,000,000 $ 104,243 104,243 116,414 0.9% and 1.0% March 2027 – 2028 October 2017 Yen Term Loan JPY October 2017 ¥ 10,000,000 $ 86,869 86,869 97,012 0.9% October 2032 December 2018 Yen Term Loan JPY December 2018 ¥ 20,000,000 $ 173,738 173,738 194,023 1.2% and TIBOR + 0.7% December 2031 – June 2033 January 2019 Yen Term Loan JPY January 2019 ¥ 15,000,000 $ 130,304 130,304 145,517 TIBOR + 0.5% to 0.6% January 2028 – 2030 March 2019 Yen Term Loan JPY March 2019 ¥ 85,000,000 $ 738,388 738,388 824,599 TIBOR + 0.4% March 2026 Subtotal 1,367,715 1,761,402 Debt issuance costs, net (5,169 ) (7,385 ) Total term loans $ 1,362,546 $ 1,754,017 (1) In April 2021, the multi-currency term loan (“2017 Term Loan”) was terminated, the outstanding balance paid down and the interest rate swap contracts associated with the outstanding balance of $250.3 million were settled . Other Debt In December 2021, we entered into a loan for €400.0 million ($453.0 million at December 31, 2021) with an interest rate of -0.5% and a maturity of June 2022. Long-Term Debt Maturities Scheduled principal payments due on our debt for each year through the period ended December 31, 2026, and thereafter were as follows at December 31, 2021 (in thousands): Unsecured Credit Senior Term Loans Secured Maturity Facilities Notes and Other Mortgage Total 2022 (1) $ - $ 509,670 $ 462,649 $ 13,422 $ 985,741 2023 (2) 265,818 - 134,173 35,999 435,990 2024 (3) 225,575 - - 135,510 361,085 2025 - 43,435 - 144,784 188,219 2026 - 966,179 738,388 3,466 1,708,033 Thereafter - 13,536,089 495,154 74,629 14,105,872 Subtotal 491,393 15,055,373 1,830,364 407,810 17,784,940 Premiums (discounts), net - 2,548 - 10,544 13,092 Debt issuance costs, net - (76,231 ) (5,169 ) (1,578 ) (82,978 ) Total $ 491,393 $ 14,981,690 $ 1,825,195 $ 416,776 $ 17,715,054 (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 additional borrowings. (2) Included in the 2023 maturities is the 2019 Global Facility that can be extended until 2024. (3) Included in the 2024 maturities is the 2021 Global Facility that can be extended until 2025. Interest Expense The following table summarizes the components of interest expense for the years ended December 31 (in thousands): 2021 2020 2019 Gross interest expense $ 299,115 $ 348,427 $ 271,451 Amortization of debt discounts (premiums), net (7,478 ) (6,741 ) 3,713 Amortization of debt issuance costs, net 16,134 14,600 13,293 Interest expense before capitalization $ 307,771 $ 356,286 $ 288,457 Capitalized amounts (41,543 ) (41,779 ) (48,504 ) Net interest expense $ 266,228 $ 314,507 $ 239,953 Total cash paid for interest, net of amounts capitalized $ 278,861 $ 309,390 $ 214,375 Financial Debt Covenants Our senior notes, term loans and Credit Facilities outstanding at December 31, 2021 were subject to certain financial covenants under their related documents. At December 31, 2021, we were in compliance with all of our financial debt covenants. Guarantee of Finance Subsidiary Debt We have 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) in order to mitigate our foreign currency risk by borrowing in the currencies in which we invest. 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 13-01 of Regulation S-X, the separate financial statements of Prologis Euro Finance LLC, Prologis Yen Finance LLC and Prologis Sterling Finance LLC are not provided.

Stockholders' Equity of Prologi

Stockholders' Equity of Prologis, Inc.	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Stockholders' Equity of Prologis, Inc.	NOTE 9. STOCKHOLDERS’ EQUITY OF PROLOGIS, INC. Shares Authorized At December 31, 2021, 2.1 billion shares were authorized to be issued by the Parent, of which 2.0 billion shares represent common stock and 0.1 billion shares represent preferred stock. Our board of directors (the “Board”) may, without stockholder approval, classify or reclassify any unissued shares of our stock from time to time by setting or changing the preferences, conversion or other rights, voting powers, restrictions, limitations as to distributions, qualifications and terms or conditions of redemption of such shares. Common Stock Our at-the-market program allows us to sell up to $1.5 billion in aggregate gross sales proceeds of shares of common stock through twenty designated agents. These agents earn a fee of up to 2% of the gross sales price per share of common stock as agreed to on a transaction-by-transaction basis. We have not issued any shares of common stock under this program. On February 4, 2020, we issued 106.7 million common shares in the Liberty Transaction. Under the 2020 Long-Term Incentive Plan, certain of our employees and outside directors are able to participate in equity-based compensation plans. See Note 12 for additional information on equity-based compensation plans. Share Purchase Program We have a 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. In 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. Preferred Stock In 2020, we repurchased approximately 0.1 million shares of Series Q preferred stock and recognized a loss of $2.3 million, which primarily represented the difference between the repurchase price and the carrying value of the preferred stock, net of original issuance costs. At December 31, 2021 and 2020 our Series Q preferred stock outstanding had a dividend rate of 8.54% and will be redeemable at our option on or after November 13, 2026. Holders have, subject to certain conditions, limited voting rights and all holders are entitled to receive cumulative preferential dividends based on liquidation preference. The dividends are payable quarterly when, and if, they have been declared by the Board, out of funds legally available for the payment of dividends. Ownership Restrictions For us to qualify as a REIT, five or fewer individuals may not own more than 50% of the value of our outstanding stock at any time during the last half of our taxable year. Therefore, our charter restricts beneficial ownership (or ownership generally attributed to a person under the REIT rules), by a person, or persons acting as a group, of issued and outstanding common and preferred stock that would cause that person to own or be deemed to own more than 9.8% (by value or number of shares, whichever is more restrictive) of our issued and outstanding common stock. Furthermore, subject to certain exceptions, no person shall at any time directly or indirectly acquire ownership of more than 25% of any of the preferred stock. These provisions assist us in protecting and preserving our REIT status and protect the interests of stockholders in takeover transactions by preventing the acquisition of a substantial block of outstanding shares of stock. Shares of stock owned by a person or group of people in excess of these limits are subject to redemption by us. The provision does not apply where a majority of the Board, in its sole and absolute discretion, waives such limit after determining that our status as a REIT for federal income tax purposes will not be jeopardized. Dividends To comply with the REIT requirements of the IRC, we are generally required to make common and preferred stock dividends (other than capital gain distributions) to our stockholders in amounts that together at least equal (i) the sum of (a) 90% of our “REIT taxable income” computed without regard to the dividends paid deduction and net capital gains and (b) 90% of the net income (after tax), if any, from foreclosure property, minus (ii) certain excess noncash income. Our common stock distribution policy is to distribute a percentage of our cash flow that ensures that we will meet the distribution requirements of the IRC and that allows us to also retain cash to meet other needs, such as capital improvements and other investment activities. The taxability of our dividends for the years ended December 31, 2021, 2020 and 2019 are presented below. The taxability of dividends paid in 2021 was based on management’s estimates as our tax return for the year ended December 31, 2021 has not been filed. As the statute of limitations is generally three years, our tax returns for certain years remain subject to examination and consequently the taxability of the dividends is subject to change. In 2021, 2020 and 2019, we paid all of our dividends in cash. The following summarizes the taxability of our common and preferred stock dividends for the years ended December 31: 2021 (1) 2020 2019 Common Stock: Ordinary income $ 2.45 $ 2.12 $ 2.08 Qualified dividend 0.00 0.00 0.00 Capital gains 0.07 0.20 0.04 Total distribution $ 2.52 $ 2.32 $ 2.12 Preferred Stock – Series Q: Ordinary income $ 4.15 $ 3.96 $ 4.00 Qualified dividend 0.01 0.02 0.01 Capital gains 0.11 0.29 0.26 Total dividend $ 4.27 $ 4.27 $ 4.27 (1) Taxability for 2021 is estimated. Common stock dividends are characterized for federal income tax purposes as ordinary income, qualified dividend, capital gains, non-taxable return of capital or a combination of the four. Common stock dividends that exceed our current and accumulated earnings and profits (calculated for tax purposes) constitute a return of capital rather than a dividend and generally reduce the stockholder’s basis in the common stock. To the extent that a dividend exceeds both current and accumulated earnings and profits and the stockholder’s basis in the common stock, it will generally be treated as a gain from the sale or exchange of that stockholder’s common stock. At the beginning of each year, we notify our stockholders of the taxability of the common stock dividends paid during the preceding year. Pursuant to the terms of our preferred stock, we are restricted from declaring or paying any dividend with respect to our common stock unless and until all cumulative dividends with respect to the preferred stock have been paid and sufficient funds have been set aside for dividends that have been declared for the relevant dividend period with respect to the preferred stock.

Partners' Capital of Prologis,

Partners' Capital of Prologis, L.P.	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Partners' Capital of Prologis, L.P.	NOTE 10. PARTNERS’ CAPITAL OF PROLOGIS, L.P. Distributions paid on the common limited partnership units, and the taxability of those distributions, are similar to dividends paid on the Parent’s common stock disclosed above. On February 4, 2020, we issued 2.3 million common limited partnership units in the OP in the Liberty Transaction. See Note 3 for more detail on this transaction. Additionally, we issued 1.0 million limited partnership units to our partner as partial consideration for the acquisition of additional ownership interest in an unconsolidated other venture in 2021 and 0.5 million limited partnership units as partial consideration for the acquisition of other properties in 2020. We issued Class A Units in the OP through an acquisition of a portfolio of properties in 2015. The Class A Units generally have the same rights as the existing common limited partnership units of the OP, except that the Class A Units are entitled to a quarterly distribution equal to $0.64665 per unit so long as the common limited partnership units receive a quarterly distribution of at least $0.40 per unit (in the event the common limited partnership units receive a quarterly distribution of less than $0.40 per unit, the Class A Unit distribution would be reduced by a proportionate amount). Class A Units are convertible into common limited partnership units at an initial conversion rate of one-for-one. The conversion rate will be increased or decreased to the extent that, at the time of conversion, the net present value of the distributions paid with respect to the Class A Units are less or more than the distributions paid on common limited partnership units from the time of issuance of the Class A Units until the time of conversion. At December 31, 2021 and 2020, the Class A Units were convertible into 8.0 million

Noncontrolling Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2021
Noncontrolling Interest [Abstract]
Noncontrolling Interests	NOTE 11. NONCONTROLLING INTERESTS Prologis, L.P. We report noncontrolling interests related to several entities we consolidate but of which we do not own 100% of the equity. These entities include two real estate partnerships that have issued limited partnership units to third parties. Depending on the specific partnership agreements, these limited partnership units are redeemable for cash or, at our option, shares of the Parent’s common stock, generally at a rate of one share of common stock to one limited partnership unit. We also consolidate certain entities in which we do not own 100% of the equity but the equity of these entities is not exchangeable into our common stock. As discussed in Note 1, the Parent has complete responsibility, power and discretion in the day-to-day management of the OP. The Parent, through its majority interest, has the right to receive benefits from and incur losses of the OP. In addition, the OP does not have either substantive liquidation rights or substantive kick-out rights without cause or substantive participating rights that could be exercised by a simple majority of noncontrolling interests. The absence of such rights renders the OP as a VIE. Accordingly, the Parent is the primary beneficiary and therefore consolidates the OP. Prologis, Inc. The noncontrolling interests of the Parent include the noncontrolling interests described above for the OP, as well as the limited partnership units in the OP that are not owned by the Parent. The outstanding limited partnership units receive quarterly cash distributions equal to the quarterly dividends paid on our common stock pursuant to the terms of the applicable partnership agreements. The following table summarizes these entities at December 31 (dollars in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities 2021 2020 2021 2020 2021 2020 2021 2020 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 3,264,337 $ 3,385,110 $ 7,397,195 $ 7,663,800 $ 147,545 $ 145,131 Other consolidated entities (1) various various 133,201 98,416 1,453,236 1,066,129 162,598 73,987 Prologis, L.P. 3,397,538 3,483,526 8,850,431 8,729,929 310,143 219,118 Limited partners in Prologis, L.P. (2)(3) 917,799 869,507 - - - - Prologis, Inc. $ 4,315,337 $ 4,353,033 $ 8,850,431 $ 8,729,929 $ 310,143 $ 219,118 (1) Includes our two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. The limited partnership units outstanding at December 31, 2021 and 2020 were exchangeable into cash or, at our option, 0.3 million shares of the Parent’s common stock. (2) We had 8.6 million Class A Units at December 31, 2021 and 2020 that were convertible into 8.0 million limited partnership units of the OP at the end of each year. See Note 10 for further discussion of our Class A Units (3) There were limited partnership units in the OP, excluding the Class A Units, that were exchangeable into cash or, at our option, 8.4 million and 8.2 million shares of the Parent’s common stock, at December 31, 2021 and 2020, respectively. Also included are the vested OP Long-Term Incentive Plan Units (“LTIP Units”) associated with our long-term compensation plans of 4.0 million and 3.9 million at December 31, 2021 and 2020, respectively. See further discussion of LTIP Units in Note 12.

Long-Term Compensation

Long-Term Compensation	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Long-Term Compensation	NOTE 12. LONG-TERM COMPENSATION 2020 Long-Term Incentive Plan In 2020, our stockholders approved the 2020 Long-Term Incentive Plan (“2020 LTIP”), which replaced the 2012 Long-Term Incentive Plan (“2012 LTIP”). After approval of the 2020 LTIP, no further awards could be made under the 2012 LTIP and outstanding awards previously granted under the 2012 LTIP will remain outstanding in accordance with the awards’ terms. The 2020 LTIP provides for grants of awards to officers, directors, employees and consultants of the Parent or its subsidiaries. Awards can be in the form of: full value awards, stock appreciation rights and stock options (non-qualified options and incentive stock options). Full value awards generally consist of: (i) common stock; (ii) restricted stock units (“RSUs”); (iii) OP LTIP units (“LTIP Units”) and (iv) Prologis Outperformance Plan (“POP”) OP LTIP units (“POP LTIP Units”). The equity-based compensation plans and programs under which awards can be made were not changed under the 2020 LTIP. Awards may be made under the 2020 LTIP until it is terminated by the Board or until the ten-year anniversary of the effective date of the plan. The awards have been issued under the following components of our equity-based compensation plans and programs at December 31, 2021 At December 31, 2021, we had 33.8 million shares reserved or available for issuance, including 4.6 million shares of common stock to be issued upon vesting of awards previously granted and 23.2 million shares of common stock remaining available for future issuance under equity compensation plans. Each LTIP Unit and POP LTIP Unit counts as one share of common stock for purposes of calculating the limit on shares that may be issued. Equity-Based Compensation Plans and Programs Prologis Outperformance Plan (“POP”) We have allocated participation points or a percentage of the compensation pool to participants under our POP corresponding to three-year We granted participation points for the 2021 – 2023 performance period in January 2021, as discussed in the table below. The 2021 – 2023 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 at the end of the initial performance period and the remaining 80% is subject to additional seven-year three-year three-year Each participant is eligible to receive a percentage of the total compensation pool based on the number of participation points allocated to the participant, or in the case of certain executive officers, a set percentage of the compensation pool. If the performance criteria are met, the participants’ points or compensation pool percentage will be paid in the form of common stock, restricted stock units or POP LTIP Units, as elected by the participant. Annually, a participant may exchange their participation points or compensation pool percentage for POP LTIP Units. If the performance criteria are not met, the participants’ points, compensation pool percentage and POP LTIP Units will be forfeited. At December 31, 2021 , all awards were equity classified. The initial valuation was calculated using a Monte Carlo valuation model. The following table details the assumptions used for each grant based on the year it was granted (dollars in thousands): 2021 2020 2019 Risk free interest rate 0.2 % 1.7 % 2.6 % Prologis expected volatility 32.0 % 19.0 % 23.0 % MSCI US REIT Index expected volatility 29.0 % 13.0 % 17.0 % Aggregate fair value $ 30,300 $ 28,800 $ 21,200 Total remaining compensation cost related to the POP at December 31, 2021, was $60.8 million, prior to adjustments for capitalized amounts due to our development activities. The remaining compensation cost will be recognized through 2030, with a weighted average period of 3.2 years. The performance criteria were met for the 2019 – 2021, 2018 – 2020, 2017 – 2019 and 2016 – 2018 performance periods at the end of the initial three-year 2019 – 2021 2018 – 2020 2017 – 2019 (1) 2016 – 2018 (1) Performance pool $ 100,000 $ 100,000 $ 119,753 $ 114,950 Common stock shares 34 61 384 489 Restricted stock units 134 242 - - POP LTIP Units and LTIP Units 426 701 804 1,082 Average price used to determine number of awards $ 168.37 $ 99.67 $ 100.79 $ 73.20 (1) These performance period amounts include awards earned subsequent to the initial three-year performance 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 performance period if our performance meets or exceeds the MSCI US REIT Index at the end of each of such three years. The tables below include POP awards that were earned but are unvested while any vested awards are reflected within the Consolidated Statements of Equity and Capital. The initial grant date fair value derived using a Monte Carlo valuation model was used in determining the grant date fair value per unit in the award tables below. Other Equity-Based Compensation Plans and Programs Awards may be issued in the form of RSUs or LTIP Units at the participants’ elections under the following equity-based compensation plans and programs. RSUs and LTIP Units are valued based on the market price of the Parent’s common stock on the date the award is granted and the grant date value is charged to compensation expense over the service period. The service period is generally four years, except for awards under the annual bonus exchange program. Dividends and distributions are paid with respect to both RSUs and LTIP Units during the vesting period, and therefore they are considered participating securities. We do not allocate undistributed earnings to participating securities as our net earnings per share or unit would not be materially different. The value of the dividend is charged to retained earnings for RSUs and the distribution is charged to Net Earnings Attributable to Noncontrolling Interests Prologis Promote Plan (“PPP”) Under the PPP, we establish a compensation pool for certain employees up to 40% of the third-party portion of promotes earned by Prologis from the co-investment ventures. The awards may be settled in some combination of cash and full value awards, at our election. Annual LTI Equity Award Program (“Annual LTI Award”) The Annual LTI Award provides for grants to certain employees subject to our performance against benchmark indices that relate to the most recent year’s performance. Annual Bonus Exchange Program Under our bonus exchange program, generally all our employees may elect to receive all or a portion of their annual cash bonus in equity. Equity awards granted through the bonus exchange are valued at a premium to the cash bonus exchanged and vest over three years, excluding certain executive officers. As certain executive officers do not receive a bonus exchange premium for participating in the bonus exchange program, the equity they receive upon exchange for their cash bonuses does not have a vesting period. Summary of Award Activity RSUs Each RSU represents the right to receive one share of common stock of the Parent. The following table summarizes the activity for RSUs for the year ended December 31, 2021 (units in thousands): Unvested RSUs Weighted Average Grant Date Fair Value Balance at January 1, 2021 986 $ 80.32 Granted (1) 826 90.24 Vested and distributed (414 ) 78.82 Forfeited (161 ) 77.08 Balance at December 31, 2021 1,237 $ 87.87 (1) Included in granted were unvested units based on the POP performance criteria being met for the 2018 – 2020 performance period and represented the earned award amounts subject to an additional vesting period. 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. The fair value of stock awards granted and vested was $74.5 million and $32.6 million for 2021, respectively, and $45.8 million and $36.0 million for 2020, respectively, based on the weighted average grant date fair value per unit. Total remaining compensation cost related to RSUs outstanding, excluding POP, at December 31, 2021, was $63.3 million, prior to adjustments for capitalized amounts due to our development activities. The remaining compensation cost will be recognized through 2025, with a weighted average period of 1.4 years. LTIP Units An LTIP Unit represents a partnership interest in the OP. After vesting and the satisfaction of certain conditions, an LTIP Unit may be exchangeable for a common limited partnership unit in the OP and then redeemable for a share of common stock or cash at our option. The following table summarizes the activity for LTIP Units for the year ended December 31, 2021 (units in thousands): Unvested LTIP Units Weighted Average Grant Date Fair Value Balance at January 1, 2021 3,052 $ 66.50 Granted (1) 1,337 64.77 Forfeited (51 ) 55.66 Vested LTIP Units (1,021 ) 80.55 Balance at December 31, 2021 3,317 $ 61.65 (1) Included in granted were unvested units based on the POP performance criteria being met for the 2018 – 2020 performance period and represented the earned award amounts subject to an additional vesting period. 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. The fair value of unit awards granted and vested, excluding POP awards, was $86.6 million and $82.2 million for 2021, respectively, and $105.1 million and $69.3 million for 2020, respectively, based on the weighted average grant date fair value per unit. Total remaining compensation cost related to LTIP Units, excluding POP, at December 31, 2021, was $121.2 million, prior to adjustments for capitalized amounts due to our development activities. The remaining compensation cost will be recognized through 2025, with a weighted average period of 1.3 years. Other Plans In 2020, the Prologis 401(k) Plan (the “401(k) Plan”) was amended to provide for a new matching employer contribution of $0.50 for every dollar contributed by an employee, up to 12% of the employee’s annual compensation (within the statutory compensation limit). The matching employer contribution was previously up to 6% of the employee’s annual compensation. In the 401(k) Plan, vesting in the matching employer contributions is based on the employee’s years of service, with 100% vesting at the completion of one year of service. Our contributions under the matching provisions were $5.8 million, $5.9 million and $3.0 million for the years ended December 31, 2021, 2020 and 2019, respectively. We have a non-qualified savings plan that allows highly compensated employees the opportunity to defer the receipt and income taxation of a certain portion of their compensation in excess of the amount permitted under the 401(k) Plan. There has been no employer matching within this plan in the three-year period ended December 31, 2021.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	NOTE 13. INCOME TAXES Components of Earnings Before Income Taxes The following table summarizes the components of earnings before income taxes for the years ended December 31 (in thousands): 2021 2020 2019 Domestic $ 2,208,168 $ 1,030,609 $ 981,188 International 1,114,680 716,479 795,175 Earnings before income taxes $ 3,322,848 $ 1,747,088 $ 1,776,363 Summary of Current and Deferred Income Taxes The following table summarizes the components of the provision for income taxes for the years ended December 31 (in thousands): 2021 2020 2019 Current income tax expense: U.S. federal $ 58,906 $ 48,440 $ 3,232 International 103,488 65,720 41,855 State and local 10,542 15,554 17,209 Total current income tax expense 172,936 129,714 62,296 Deferred income tax expense (benefit): U.S. federal 2,895 (2,464 ) (208 ) International (1,573 ) 3,208 12,429 Total deferred income tax expense 1,322 744 12,221 Total income tax expense $ 174,258 $ 130,458 $ 74,517 Current Income Taxes We recognize current income tax expense for the federal and state income taxes incurred by our TRSs During the years ended December 31, 2021, 2020 and 2019, cash paid for income taxes, net of refunds, was $148.7 million, $100.7 million and $62.1 million, respectively. Deferred Income Taxes The deferred income tax expense recognized in 2021, 2020 and 2019 was primarily due to changes in temporary differences and utilization of NOLs. The following table summarizes the deferred income tax assets and liabilities at December 31 (in thousands): 2021 2020 Gross deferred income tax assets: NOL carryforwards $ 272,713 $ 297,900 Basis difference – real estate properties 99,984 59,259 Basis difference – equity investments 8,462 - Section 163(j) interest limitation 1,599 1,486 Capital loss carryforward 14,238 16,845 Other – temporary differences 10,027 4,122 Total gross deferred income tax assets 407,023 379,612 Valuation allowance (337,587 ) (326,706 ) Gross deferred income tax assets, net of valuation allowance 69,436 52,906 Gross deferred income tax liabilities: Basis difference – real estate properties 104,292 79,230 Basis difference – equity investments 30,276 31,995 Other – temporary differences 949 999 Total gross deferred income tax liabilities 135,517 112,224 Net deferred income tax liabilities $ 66,081 $ 59,318 At December 31, 2021, we had NOL carryforwards as follows (in thousands): U.S. Europe Mexico Japan Other Gross NOL carryforward $ 80,467 $ 656,532 $ 195,591 $ 89,531 $ 38,815 Tax-effected NOL carryforward 20,298 167,334 61,483 14,315 9,283 Valuation allowance 17,168 161,178 61,483 13,842 9,283 Net deferred tax asset – NOL carryforward $ 3,130 $ 6,156 $ - $ 473 $ - Expiration periods 2022 – 2041 2022 – indefinite 2022 – 2032 2022 – 2031 2022 – indefinite The deferred tax asset valuation allowance at December 31, 2021, was adequate to reduce the total deferred tax asset to an amount that we estimate will more likely than not be realized. Liability for Uncertain Tax Positions During the years ended December 31, 2021, 2020 and 2019, we believe that we had complied with the REIT requirements of the IRC. The statute of limitations for our tax returns is generally three years. As such, our tax returns that remain subject to examination would be primarily from 2018 and thereafter. Liabilities or any related settlements for uncertain tax positions for the years ended December 31, 2021, 2020 and 2019 were not material to our Consolidated Financial Statements.

Earnings Per Common Share or Un

Earnings Per Common Share or Unit	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Common Share or Unit	NOTE 14. EARNINGS PER COMMON SHARE OR UNIT We determine basic earnings per share or unit based on the weighted average number of shares of common stock or units outstanding during the period. We compute diluted earnings per share or unit based on the weighted average number of shares or units outstanding combined with the incremental weighted average effect from all outstanding potentially dilutive instruments. The computation of our basic and diluted earnings per share and unit for the years ended December 31 was as follows (in thousands, except per share and unit amounts): Prologis, Inc. 2021 2020 2019 Net earnings attributable to common stockholders – Basic $ 2,933,571 $ 1,473,122 $ 1,566,950 Net earnings attributable to exchangeable limited partnership units (1) 82,092 41,938 46,986 Adjusted net earnings attributable to common stockholders – Diluted $ 3,015,663 $ 1,515,060 $ 1,613,936 Weighted average common shares outstanding – Basic 739,363 728,323 630,580 Incremental weighted average effect on exchange of limited partnership units (1) 20,913 20,877 19,154 Incremental weighted average effect of equity awards 4,486 5,214 5,169 Weighted average common shares outstanding – Diluted (2) 764,762 754,414 654,903 Net earnings per share attributable to common stockholders: Basic $ 3.97 $ 2.02 $ 2.48 Diluted $ 3.94 $ 2.01 $ 2.46 Prologis, L.P. 2021 2020 2019 Net earnings attributable to common unitholders $ 3,015,363 $ 1,514,743 $ 1,613,615 Net earnings attributable to Class A Units (31,758 ) (16,262 ) (20,454 ) Net earnings attributable to common unitholders – Basic 2,983,605 1,498,481 1,593,161 Net earnings attributable to Class A Units 31,758 16,262 20,454 Net earnings attributable to exchangeable other limited partnership units 300 317 321 Adjusted net earnings attributable to common unitholders – Diluted $ 3,015,663 $ 1,515,060 $ 1,613,936 Weighted average common partnership units outstanding – Basic 751,973 740,860 641,128 Incremental weighted average effect on exchange of Class A Units 8,004 8,041 8,231 Incremental weighted average effect on exchange of other limited partnership units 299 299 375 Incremental weighted average effect of equity awards of Prologis, Inc. 4,486 5,214 5,169 Weighted average common units outstanding – Diluted (2) 764,762 754,414 654,903 Net earnings per unit attributable to common unitholders: Basic $ 3.97 $ 2.02 $ 2.48 Diluted $ 3.94 $ 2.01 $ 2.46 (1) Earnings allocated to the exchangeable OP units not held by the Parent have been included in the numerator and exchangeable common units have been included in the denominator for the purpose of computing diluted earnings per share for all periods as the per share and unit amount is the same (2) Our total weighted average potentially dilutive shares and units outstanding for the years ended December 31 consisted of the following: 2021 2020 2019 Class A Units 8,004 8,041 8,231 Other limited partnership units 299 299 375 Equity awards 6,719 7,798 7,933 Prologis, L.P. 15,022 16,138 16,539 Common limited partnership units 12,610 12,537 10,548 Prologis, Inc. 27,632 28,675 27,087

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Financial Instruments and Fair Value Measurements	NOTE 15. FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Derivative Financial Instruments In the normal course of business, our operations are exposed to market risks, including the effect of changes in foreign currency exchange rates and interest rates. We may enter into derivative financial instruments to offset these underlying market risks. See Note 2 for our derivative financial instruments policy. The following table presents the fair value of our derivative financial instruments recognized within Other Assets Other Liabilities 2021 2020 Asset Liability Asset Liability Undesignated derivatives Foreign currency contracts Forwards Brazilian real $ 664 $ - $ 620 $ 66 British pound sterling 5,361 3,492 174 7,589 Canadian dollar 2,856 1,790 80 5,827 Chinese renminbi - 550 - 717 Euro 40,484 136 73 6,247 Japanese yen 23,341 - 720 1,604 Swedish krona 3,773 201 - 2,355 Designated derivatives Foreign currency contracts Net investment hedges British pound sterling 9,158 2,683 - 2,081 Canadian dollar 5,410 823 - 9,847 Interest rate swaps Cash flow hedges Euro - - - 9 U.S. dollar - - - 140 Total fair value of derivatives $ 91,047 $ 9,675 $ 1,667 $ 36,482 Undesignated Derivative Financial Instruments Foreign Currency Contracts The following table summarizes the activity of our undesignated foreign currency contracts for the years ended December 31 (in millions, except for weighted average forward rates and number of active contracts): 2021 2020 2019 CAD EUR GBP JPY SEK Other Total CAD EUR GBP JPY SEK Other Total CAD EUR GBP JPY SEK Other Total Notional amounts at January 1 ($) 163 474 207 252 38 28 1,162 120 581 178 182 31 15 1,107 55 314 118 177 - 5 669 New contracts ($) 225 437 308 76 64 27 1,137 88 1,314 364 154 37 48 2,005 201 619 1,111 85 31 524 2,571 Matured, expired or settled contracts ($) (213) (162) (132) (78) (17) (35) (637) (45) (1,421) (335) (84) (30) (35) (1,950) (136) (352) (1,051) (80) - (514) (2,133) Notional amounts at December 31 ($) 175 749 383 250 85 20 1,662 163 474 207 252 38 28 1,162 120 581 178 182 31 15 1,107 Weighted average forward rate at December 31 1.26 1.22 1.20 103.14 9.28 1.32 1.23 1.32 102.66 8.64 1.32 1.13 1.32 103.39 9.42 Active contracts at December 31 72 86 70 74 72 58 64 53 59 42 40 53 50 44 20 The following table summarizes the undesignated derivative financial instruments exercised and associated realized and unrealized gains (losses) in Foreign Currency and Derivative Gains (Losses), Net 2021 2020 2019 Exercised contracts 161 173 115 Realized gains (losses) on the matured, expired or settled contracts $ (8 ) $ (6 ) $ 28 Unrealized gains (losses) on the change in fair value of outstanding contracts $ 88 $ (13 ) $ (10 ) Designated Derivative Financial Instruments Changes in the fair value of derivatives that are designated as net investment hedges of our foreign operations and cash flow hedges are recorded in Accumulated Other Comprehensive Income (Loss) (“AOCI/L”) Foreign Currency Contracts The following table summarizes the activity of our foreign currency contracts designated as net investment hedges for the years ended December 31 2021 2020 2019 CAD GBP Total CAD GBP Total BRL CAD EUR GBP Total Notional amounts at January 1 ($) 377 135 512 97 387 484 460 100 - 127 687 New contracts ($) 535 432 967 377 459 836 489 97 420 649 1,655 Matured, expired or settled contracts ($) (377 ) (135 ) (512 ) (97 ) (711 ) (808 ) (949 ) (100 ) (420 ) (389 ) (1,858 ) Notional amounts at December 31 ($) 535 432 967 377 135 512 - 97 - 387 484 Weighted average forward rate at December 31 1.25 1.37 1.31 1.35 - 1.32 - 1.29 Active contracts at December 31 6 4 6 1 - 2 - 5 Interest Rate Swaps The following table summarizes the activity of our interest rate swaps designated as cash flow hedges for the years ended December 31 2021 2020 2019 EUR USD (1) Total EUR USD Total EUR Total Notional amounts at January 1 ($) 165 250 415 - - - 500 500 New contracts ($) - - - 165 1,500 1,665 - - Matured, expired or settled contracts ($) - (250 ) (250 ) - (1,250 ) (1,250 ) (500 ) (500 ) Notional amounts at December 31 ($) 165 - 165 165 250 415 - - (1) In April 2021, the 2017 Term Loan was terminated and the interest rate swap contracts associated with the outstanding balance were settled. Designated Nonderivative Financial Instruments The following table summarizes our debt and accrued interest, designated as a hedge of our net investment in international subsidiaries at December 31 (in millions): 2021 2020 2019 British pound sterling $ 624 $ 842 $ 329 Euro $ - $ - $ 850 The following table summarizes the unrealized gains (losses) in Foreign Currency and Derivative Gains (Losses), Net 2021 2020 2019 Unrealized gains (losses) on the unhedged portion $ 81 $ (139 ) $ (64 ) 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) 2021 2020 2019 Derivative net investment hedges $ 9,792 $ (4,301 ) $ (22,600 ) Debt designated as nonderivative net investment hedges (832 ) (62,263 ) 141,675 Cumulative translation adjustment 296,969 (128,109 ) (20,593 ) Total foreign currency translation gains (losses), net $ 305,929 $ (194,673 ) $ 98,482 Cash flow hedges (1)(2) $ 9,098 $ (11,269 ) $ 4,665 Our share of derivatives from unconsolidated co-investment ventures 8,444 (2,848 ) (6,000 ) Total unrealized gains (losses) on derivative contracts, net $ 17,542 $ (14,117 ) $ (1,335 ) Total change in other comprehensive income (loss) $ 323,471 $ (208,790 ) $ 97,147 (1) We estimate an additional expense of $2.2 million will be reclassified to Interest Expense over the next 12 months from December 31, 2021, due to the amortization of previously settled derivatives designated as cash flow hedges. (2) Included in the year ended December 31, 2020, was $16.8 million in losses associated with the termination of four U.S. dollar treasury lock contracts with an aggregate notional amount of $750.0 million that fixed the interest rate on the forecasted issuance of U.S. dollar senior notes, which were then issued in February 2020. Fair Value Measurements We have estimated the fair value of our financial instruments using available market information and valuation methodologies we believe to be appropriate for these purposes. Considerable judgment and a high degree of subjectivity are involved in developing these estimates and, accordingly, they are not necessarily indicative of amounts that we would realize on disposition. See Note 2 for more information on our fair value measurements policy. Fair Value Measurements on a Recurring Basis At December 31, 2021 and 2020, other than the derivatives discussed previously, we had no significant financial assets or financial liabilities that were measured at fair value on a recurring basis in the Consolidated Financial Statements. All of our derivatives held at December 31, 2021 and 2020 were classified as Level 2 of the fair value hierarchy. Fair Value Measurements on Nonrecurring Basis Acquired properties and assets we expect to sell or contribute are significant nonfinancial assets that met the criteria to be measured at fair value on a nonrecurring basis, as detailed in our accounting policy in Note 2. At December 31, 2021 and 2020, we estimated the fair value of our properties using Level 2 or Level 3 inputs from the fair value hierarchy. See more information on our acquired properties in Notes 3 and 4 and assets held for sale or contribution in Note 6. Fair Value of Financial Instruments At December 31, 2021 and 2020, the carrying amounts of certain financial instruments, including cash and cash equivalents, accounts and notes receivable, accounts payable and accrued expenses were representative of their fair values. The differences in the fair value of our debt from the carrying value in the table below were the result of differences in interest rates or borrowing spreads that were available to us at December 31, 2021 and 2020, as compared with those in effect when the debt was issued or assumed, including reduced borrowing spreads due to our improved credit ratings. The fair value of the senior notes decreased in 2021 due to the increase in bond yields in the market as compared to the weighted average interest rates on our senior notes. 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. We evaluate this on an on-going basis and have taken the opportunity to refinance some of our debt at lower rates and longer maturities as discussed in Note 8. The following table reflects the carrying amounts and estimated fair values of our debt at December 31 (in thousands): 2021 2020 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 491,393 $ 491,429 $ 171,794 $ 171,794 Senior notes 14,981,690 15,151,781 14,275,870 15,452,381 Term loans and unsecured other 1,825,195 1,835,569 1,764,311 1,785,706 Secured mortgage 416,776 437,215 637,101 673,549 Total $ 17,715,054 $ 17,915,994 $ 16,849,076 $ 18,083,430

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 16. COMMITMENTS AND CONTINGENCIES Environmental Matters A majority of the properties we acquire, including land, are subjected to environmental reviews either by us or the previous owners. In addition, we may incur environmental remediation costs associated with certain land parcels we acquire in connection with the development of the land. We have acquired certain properties that may have been leased to or previously owned by companies that discharged hazardous materials. We establish a liability at the time of acquisition to cover such costs and adjust the liabilities as appropriate when additional information becomes available. We record our environmental liabilities in Other Liabilities Indemnification Agreements We have entered into agreements whereby we indemnify certain co-investment ventures, or our venture partners, outside of the U.S. for taxes that may be assessed with respect to certain properties we contributed to these ventures. Our contributions to these ventures are generally structured as contributions of shares of companies that own the real estate assets. Accordingly, the capital gains associated with the step up in the value of the underlying real estate assets, for tax purposes, are deferred and transferred at contribution. We have generally indemnified these ventures to the extent that the ventures incur capital gains or withholding tax as a result of a direct sale. The agreements limit the amount that is subject to our indemnification with respect to each property to 100% of the actual tax liabilities related to the capital gains that are deferred and transferred by us to the ventures at the time of the initial contribution less any deferred tax assets transferred with the property. The outcome under these agreements is uncertain as it depends on the method and timing of dissolution of the related venture or disposition of any properties by the venture. We record liabilities related to the indemnification agreements in Other Liabilities Off-Balance Sheet Liabilities We have issued performance and surety bonds and standby letters of credit in connection with certain development projects. Performance and surety bonds are commonly required by public agencies from real estate developers. Performance and surety bonds are renewable and expire on the completion of the improvements and infrastructure. At December 31, 2021 and 2020, we had $394.6 million and $275.2 million, respectively, outstanding under such arrangements. We may be required under capital commitments or we may choose to make additional capital contributions to certain of our unconsolidated entities, representing our proportionate ownership interest, should additional capital contributions be necessary to fund development or acquisition costs, repayment of debt or operational shortfalls. See Note 5 for further discussion related to equity commitments to our unconsolidated co-investment ventures. Litigation From time to time, we are party to a variety of legal proceedings arising in the ordinary course of business. We believe that, with respect to any such matters that we are currently a party to, the ultimate disposition of any such matter will not have material adverse effect on our business, financial position or results of operations.

Business Segments

Business Segments	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Business Segments	NOTE 17. BUSINESS SEGMENTS Our current business strategy includes two operating segments: Real Estate Operations and Strategic Capital. We generate revenues, earnings, net operating income and cash flows through our segments, as follows: • Real Estate Operations. This operating segment represents the ownership and development of operating properties and is the largest component of our revenue and earnings. We collect rent from our customers through operating leases, including reimbursements for the majority of our property operating costs. Each operating property is considered to be an individual operating segment with similar economic characteristics; these properties are combined within the reportable business segment based on geographic location. Our Real Estate Operations segment also includes development activities that lead to rental operations, including land held for development and properties currently under development, and other real estate investments. 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 land 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 and disposition services. Depending on the structure of the venture and the returns provided to our partners, we also earn revenues through promotes periodically during the life of a venture or upon liquidation. Each unconsolidated co-investment venture we manage is considered to be an individual operating segment with similar economic characteristics; these ventures are combined within the reportable business segment based on geographic location. Reconciliations are presented below for: (i) each reportable business segment’s revenues from external customers to Total Revenues Operating Income Earnings Before Income Taxes Total Assets Total Revenues, Operating Income, Earnings Before Income Taxes Total Assets The following reconciliations are presented in thousands: Years Ended December 31, 2021 2020 2019 Revenues: Real estate operations segment: U.S. $ 3,967,180 $ 3,600,335 $ 2,645,194 Other Americas 98,620 87,830 94,984 Europe 55,533 68,801 44,356 Asia 47,357 44,782 54,201 Total real estate operations segment 4,168,690 3,801,748 2,838,735 Strategic capital segment: U.S. 171,761 354,825 86,271 Other Americas 58,655 37,696 40,347 Europe 249,600 145,016 283,909 Asia 110,734 99,450 81,359 Total strategic capital segment 590,750 636,987 491,886 Total revenues 4,759,440 4,438,735 3,330,621 Segment net operating income: Real estate operations segment: U.S. (1) 2,966,498 2,679,685 1,953,727 Other Americas 72,424 64,473 69,393 Europe 31,163 43,531 27,525 Asia 34,854 31,986 40,675 Total real estate operations segment 3,104,939 2,819,675 2,091,320 Strategic capital segment: U.S. (1) 59,991 237,271 (10,945 ) Other Americas 47,247 24,923 27,369 Europe 203,779 99,504 246,213 Asia 72,562 57,248 44,588 Total strategic capital segment 383,579 418,946 307,225 Total segment net operating income 3,488,518 3,238,621 2,398,545 Reconciling items: General and administrative expenses (293,167 ) (274,845 ) (266,718 ) Depreciation and amortization expenses (1,577,942 ) (1,561,969 ) (1,139,879 ) Gains on dispositions of development properties and land, net 817,017 464,942 467,577 Gains on other dispositions of investments in real estate, net 772,570 252,195 390,241 Operating income 3,206,996 2,118,944 1,849,766 Earnings from unconsolidated entities, net 404,255 297,370 200,178 Interest expense (266,228 ) (314,507 ) (239,953 ) Interest and other income, net 871 1,044 24,213 Foreign currency and derivative gains (losses), net 164,407 (167,473 ) (41,715 ) Losses on early extinguishment of debt, net (187,453 ) (188,290 ) (16,126 ) Earnings before income taxes $ 3,322,848 $ 1,747,088 $ 1,776,363 December 31, 2021 2020 Segment assets: Real estate operations segment: U.S. $ 44,136,140 $ 42,559,023 Other Americas 1,148,371 1,145,699 Europe 1,837,800 1,604,393 Asia 965,854 1,081,876 Total real estate operations segment 48,088,165 46,390,991 Strategic capital segment (2) U.S. 11,984 13,257 Europe 25,280 25,280 Asia 299 354 Total strategic capital segment 37,563 38,891 Total segment assets 48,125,728 46,429,882 Reconciling items: Investments in and advances to unconsolidated entities 8,610,958 7,602,014 Assets held for sale or contribution 669,688 1,070,724 Cash and cash equivalents 556,117 598,086 Other assets 523,729 364,299 Total reconciling items 10,360,492 9,635,123 Total assets $ 58,486,220 $ 56,065,005 (1) This includes compensation and personnel costs for employees who were located in the U.S. but also support other geographies. (2) Represents management contracts and goodwill recorded in connection with business combinations associated with the Strategic Capital segment. Goodwill was $25.3

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2021
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	NOTE 18. SUPPLEMENTAL CASH FLOW INFORMATION Our significant noncash investing and financing activities for the years ended December 31, 2021, 2020 and 2019 included the following: • W e recognized lease right-of-use assets and lease liabilities related to leases in which we are the lessee within Other Assets and Other Liabilities on the Consolidated Balance Sheets, including new leases, renewals and modifications of $71.4 million in 2021 and $47.8 million in 2020 for both assets and liabilities. We adopted the new lease standard on January 1, 2019 and recognized lease right-of-use assets of $523.8 million and lease liabilities of $527.3 million in 2019. • We capitalized $25.6 million, $22.4 million and $21.4 million in 2021, 2020 and 2019, respectively, of equity-based compensation expense. • We received $886.1 million, $433.7 million and $646.8 million of ownership interests in certain unconsolidated co-investment ventures as a portion of our proceeds from the contribution of properties to these entities during 2021, 2020 and 2019, respectively, as disclosed in Note 5. Included in 2019 was our initial 20.0% investment in PBLV in exchange for our contribution of the initial portfolio of properties to PBLV upon formation. • We issued 0.8 million, 0.7 million and 1.2 million shares in 2021, 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 issued 1.0 million common limited partnership units for $130.4 million to our partner and assumed debt of $215.3 million in our acquisition of additional ownership interest in and subsequent consolidation of two unconsolidated other ventures in 2021. We issued 0.5 million common limited partnership units for $48.5 million as partial consideration for the acquisition of properties in 2020. See Note 10 for more information. • We received a distribution of proceeds from UKLV for the sale of real estate properties that we subsequently reinvested in PELF and PELP of $153.0 million in 2021. • We reinvested distributions from unconsolidated co-investment ventures of $45.6 million and $80.9 million and increased our ownership in 2020 and 2019, respectively. • 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 3 for more information on this transaction. Additionally, USLV assumed $341.8 million debt as part of the IPT Transaction. • As partial consideration for the disposition of a portfolio of properties during 2020, the buyer assumed debt of $169.8 million.

Selected Quarterly Financial Da

Selected Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data (Unaudited)	NOTE 19. SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) The following table details our selected quarterly financial data (in thousands, except per share and unit data): Three Months Ended Prologis, Inc. March 31, June 30, September 30, December 31, 2021: Rental revenues $ 1,021,656 $ 1,014,763 $ 1,037,281 $ 1,074,294 Total revenues $ 1,148,316 $ 1,150,842 $ 1,183,049 $ 1,277,233 Rental expenses $ (277,884 ) $ (245,133 ) $ (256,607 ) $ (261,692 ) Gains on dispositions of development properties and land, net $ 173,643 $ 187,361 $ 139,406 $ 316,607 Gains on other dispositions of investments in real estate, net $ 16,623 $ 127,167 $ 214,390 $ 414,390 Operating income $ 532,197 $ 700,866 $ 765,660 $ 1,208,273 Consolidated net earnings $ 399,693 $ 650,313 $ 797,731 $ 1,300,853 Net earnings attributable to common stockholders $ 365,815 $ 598,625 $ 722,007 $ 1,247,124 Net earnings per share attributable to common stockholders – Basic (1) $ 0.50 $ 0.81 $ 0.98 $ 1.68 Net earnings per share attributable to common stockholders – Diluted (1)(2) $ 0.49 $ 0.81 $ 0.97 $ 1.67 2020: Rental revenues $ 878,807 $ 944,366 $ 980,148 $ 987,810 Total revenues $ 978,241 $ 1,266,124 $ 1,082,773 $ 1,111,597 Rental expenses $ (227,618 ) $ (232,109 ) $ (245,490 ) $ (246,846 ) Gains on dispositions of development properties and land, net $ 162,750 $ 86,416 $ 134,207 $ 81,569 Gains on other dispositions of investments in real estate, net $ 31,491 $ 43,939 $ 108,927 $ 67,838 Operating income $ 468,057 $ 611,987 $ 556,520 $ 482,380 Consolidated net earnings $ 521,164 $ 454,938 $ 332,521 $ 308,007 Net earnings attributable to common stockholders $ 489,418 $ 404,539 $ 298,695 $ 280,470 Net earnings per share attributable to common stockholders – Basic (1) $ 0.70 $ 0.55 $ 0.40 $ 0.38 Net earnings per share attributable to common stockholders – Diluted (1)(2) $ 0.70 $ 0.54 $ 0.40 $ 0.38 Prologis, L.P. 2021: Rental revenues $ 1,021,656 $ 1,014,763 $ 1,037,281 $ 1,074,294 Total revenues $ 1,148,316 $ 1,150,842 $ 1,183,049 $ 1,277,233 Rental expenses $ (277,884 ) $ (245,133 ) $ (256,607 ) $ (261,692 ) Gains on dispositions of development properties and land, net $ 173,643 $ 187,361 $ 139,406 $ 316,607 Gains on other dispositions of investments in real estate, net $ 16,623 $ 127,167 $ 214,390 $ 414,390 Operating income $ 532,197 $ 700,866 $ 765,660 $ 1,208,273 Consolidated net earnings $ 399,693 $ 650,313 $ 797,731 $ 1,300,853 Net earnings attributable to common unitholders $ 376,083 $ 615,478 $ 741,794 $ 1,282,008 Net earnings per unit attributable to common unitholders – Basic (1) $ 0.50 $ 0.81 $ 0.98 $ 1.68 Net earnings per unit attributable to common unitholders – Diluted (1) $ 0.49 $ 0.81 $ 0.97 $ 1.67 2020: Rental revenues $ 878,807 $ 944,366 $ 980,148 $ 987,810 Total revenues $ 978,241 $ 1,266,124 $ 1,082,773 $ 1,111,597 Rental expenses $ (227,618 ) $ (232,109 ) $ (245,490 ) $ (246,846 ) Gains on dispositions of development properties and land, net $ 162,750 $ 86,416 $ 134,207 $ 81,569 Gains on other dispositions of investments in real estate, net $ 31,491 $ 43,939 $ 108,927 $ 67,838 Operating income $ 468,057 $ 611,987 $ 556,520 $ 482,380 Consolidated net earnings $ 521,164 $ 454,938 $ 332,521 $ 308,007 Net earnings attributable to common unitholders $ 503,388 $ 416,189 $ 307,069 $ 288,097 Net earnings per unit attributable to common unitholders – Basic (1) $ 0.70 $ 0.55 $ 0.40 $ 0.38 Net earnings per unit attributable to common unitholders – Diluted (1) $ 0.70 $ 0.54 $ 0.40 $ 0.38 (1) Quarterly earnings per common share or unit amounts may not total to the annual amounts due to rounding and the changes in the number of weighted average common shares or units outstanding included in the calculation of basic and diluted shares or units. (2) Income allocated to the exchangeable OP units not held by the Parent has been included in the numerator and exchangeable OP units have been included in the denominator for the purpose of computing diluted earnings per share for all periods since the per share and unit is the same.

Real Estate and Accumulated Dep

Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2021
Real Estate And Accumulated Depreciation Disclosure [Abstract]
Real Estate and Accumulated Depreciation	PROLOGIS, INC. AND PROLOGIS, L.P. SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2021 (In thousands of U.S. dollars, as applicable) Initial Cost to Prologis Costs Capitalized Gross Amounts at Which Carried at December 31, 2021 Description No. of Bldgs. Encum- brances Land Building & Improvements Subsequent to Acquisition Land Building & Improvements Total (a,b) Accumulated Depreciation (c) Date of Construction/ Acquisition Operating Properties (d) U.S. Markets Atlanta 117 (d) 264,973 1,016,540 347,824 285,290 1,344,047 1,629,337 (300,774 ) 1994-2021 Austin 10 12,783 52,335 9,567 12,837 61,848 74,685 (27,202 ) 1994-2015 Baltimore/Washington D.C. 75 (d) 300,564 722,249 196,973 312,915 906,871 1,219,786 (161,553 ) 1995-2020 Central PA 32 240,657 943,307 124,148 253,737 1,054,375 1,308,112 (197,801 ) 2002-2020 Central Valley 34 (d) 163,294 386,853 776,157 181,008 1,145,296 1,326,304 (221,738 ) 1999-2020 Charlotte 44 (d) 104,747 333,992 93,011 118,553 413,197 531,750 (67,326 ) 1994-2020 Chicago 193 (d) 715,951 2,073,268 495,652 741,301 2,543,570 3,284,871 (672,820 ) 1995-2020 Cincinnati 38 (d) 59,573 294,976 99,029 67,783 385,795 453,578 (73,309 ) 1996-2020 Columbus 26 (d) 31,733 161,881 62,815 34,683 221,746 256,429 (93,376 ) 1996-2020 Dallas/Ft. Worth 167 (d) 355,277 1,472,061 453,509 377,989 1,902,858 2,280,847 (457,367 ) 1994-2020 Denver 37 106,088 295,412 153,217 104,495 450,222 554,717 (137,632 ) 1993-2020 Houston 180 (d) 368,780 1,873,268 276,456 411,046 2,107,458 2,518,504 (296,712 ) 1993-2020 Indianapolis 21 19,337 135,609 58,710 20,575 193,081 213,656 (63,341 ) 1995-2020 Jacksonville 1 - 2,892 273 - 3,165 3,165 (2,758 ) 2011 Las Vegas 56 139,227 345,348 179,899 132,895 531,579 664,474 (107,515 ) 1996-2021 Lehigh Valley 56 886,276 1,902,902 317,508 958,783 2,147,903 3,106,686 (192,292 ) 2004-2021 Louisville 11 41,944 188,696 60,895 44,196 247,339 291,535 (71,601 ) 2005-2020 Nashville 22 66,590 236,777 125,256 68,809 359,814 428,623 (62,723 ) 1995-2021 New Jersey/New York City 131 (d) 1,498,825 1,869,356 618,259 1,506,727 2,479,713 3,986,440 (675,959 ) 1996-2021 Orlando 84 (d) 191,754 699,537 131,196 206,702 815,785 1,022,487 (123,996 ) 1994-2021 Phoenix 49 146,888 394,219 305,641 175,268 671,480 846,748 (95,664 ) 1992-2021 Portland 39 (e) 111,263 276,956 147,090 156,345 378,964 535,309 (58,904 ) 2006-2021 Reno 17 (d) 25,389 142,279 111,695 26,761 252,602 279,363 (85,685 ) 1994-2021 San Antonio 20 (d) 25,735 95,828 45,308 25,958 140,913 166,871 (63,820 ) 1994-2016 San Francisco Bay Area 229 (d) 1,009,632 1,612,507 494,115 1,020,132 2,096,122 3,116,254 (777,530 ) 1993-2021 Seattle 99 643,665 1,107,085 315,415 664,887 1,401,278 2,066,165 (252,838 ) 2008-2021 South Florida 107 (d) 500,373 889,481 224,399 506,262 1,107,991 1,614,253 (275,170 ) 1994-2021 Southern California 351 (d)(e) 3,270,727 4,753,548 1,381,334 3,542,081 5,863,528 9,405,609 (1,581,543 ) 2005-2021 Tampa 12 22,028 69,520 12,429 28,143 75,834 103,977 (5,694 ) 2020 Subtotal U.S. Markets: 2,258 11,324,073 24,348,682 7,617,780 11,986,161 31,304,374 43,290,535 (7,204,643 ) Other Americas Markets Canada 32 (d) 223,831 389,604 219,429 232,036 600,828 832,864 (150,693 ) 2008-2021 Mexico 1 730 2,287 3,249 1,708 4,558 6,266 (1,823 ) 2011 Subtotal Other Americas Markets: 33 224,561 391,891 222,678 233,744 605,386 839,130 (152,516 ) Europe Markets France 2 2,831 4,844 192 2,832 5,035 7,867 (418 ) 2019 Germany 1 7,737 5,032 601 7,737 5,633 13,370 (3,992 ) 2011 Poland 1 588 - 6,804 648 6,744 7,392 - 2021 Slovakia 2 2,743 - 13,844 - 16,587 16,587 - 2021 Spain 6 17,496 36,639 22,543 15,626 61,052 76,678 (17,856 ) 2011-2019 United Kingdom 1 47,208 3,689 - 47,341 3,556 50,897 (2,605 ) 2019 Subtotal Europe Markets: 13 78,603 50,204 43,984 74,184 98,607 172,791 (24,871 ) Asia Markets Japan 1 - - 10,198 157 10,041 10,198 (1,547 ) 2019 Singapore 5 - 136,744 4,362 - 141,106 141,106 (67,805 ) 2011 Subtotal Asia Markets: 6 - 136,744 14,560 157 151,147 151,304 (69,352 ) Total Operating Properties 2,310 11,627,237 24,927,521 7,899,002 12,294,246 32,159,514 44,453,760 (7,451,382 ) PROLOGIS, INC. AND PROLOGIS, L.P. SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2021 (In thousands of U.S. dollars, as applicable) Initial Cost to Prologis Costs Capitalized Gross Amounts at Which Carried at December 31, 2021 Date of Description No. of Bldgs. Encum- brances Land Building & Improvements Subsequent to Acquisition Land Building & Improvements Total (a,b) Accumulated Depreciation (c) Construction/ Acquisition (f) Development Portfolio U.S. Markets Atlanta 3 31,458 - 75,873 31,458 75,873 107,331 Baltimore/Washington D.C. 1 3,621 - 7,135 3,621 7,135 10,756 Central Valley 3 60,124 - 139,469 60,124 139,469 199,593 2021 Charlotte 1 6,667 - 8,079 6,667 8,079 14,746 Chicago 6 101,797 - 55,358 101,797 55,358 157,155 2021 Cincinnati 1 1,155 - 10,430 1,155 10,430 11,585 2021 Dallas/Ft. Worth 6 27,481 - 28,128 27,481 28,128 55,609 Denver 1 9,892 - 6,133 9,892 6,133 16,025 Houston 1 14,059 - 56,429 14,059 56,429 70,488 Las Vegas 1 12,502 - 3,896 12,502 3,896 16,398 Lehigh Valley 1 31,694 - 38,657 31,694 38,657 70,351 Louisville 1 6,195 - 25,092 6,195 25,092 31,287 Nashville 3 6,829 - 43,440 6,829 43,440 50,269 2021 New Jersey/New York City 2 68,476 - 25,922 68,476 25,922 94,398 Orlando 3 22,494 - 26,036 22,494 26,036 48,530 2021 Phoenix 1 2,067 - 12,283 2,067 12,283 14,350 Portland 1 9,989 - 13,121 9,989 13,121 23,110 Reno 1 4,461 - 7,779 4,461 7,779 12,240 San Francisco Bay Area 2 13,566 - 3,083 13,566 3,083 16,649 Seattle 2 28,392 - 18,543 28,392 18,543 46,935 2021 South Florida 5 55,768 - 50,450 55,768 50,450 106,218 2021 Southern California 6 124,327 - 72,831 124,327 72,831 197,158 Subtotal U.S. Markets: 52 643,014 - 728,167 643,014 728,167 1,371,181 Other Americas Markets Canada 2 19,030 - 17,143 19,030 17,143 36,173 Mexico 5 24,106 - 29,951 24,106 29,951 54,057 2021 Subtotal Other Americas Markets: 7 43,136 - 47,094 43,136 47,094 90,230 Europe Markets Czech Republic 3 11,762 - 10,894 11,762 10,894 22,656 France 1 2,988 - 3,156 2,988 3,156 6,144 Germany 3 23,389 - 32,405 23,389 32,405 55,794 Hungary 2 4,389 - 5,993 4,389 5,993 10,382 Italy 5 14,830 - 23,948 14,830 23,948 38,778 Netherlands 4 23,989 - 67,407 23,989 67,407 91,396 2021 Poland 1 1,985 - 7,149 1,985 7,149 9,134 Sweden 1 1,857 - 229 1,857 229 2,086 U.K. 12 240,561 - 74,203 240,561 74,203 314,764 2021 Subtotal Europe Markets: 32 325,750 - 225,384 325,750 225,384 551,134 Asia Markets Japan 8 179,710 - 537,085 179,710 537,085 716,795 2021 Subtotal Asia Markets: 8 179,710 - 537,085 179,710 537,085 716,795 Total Development Portfolio 99 1,191,610 - 1,537,730 1,191,610 1,537,730 2,729,340 GRAND TOTAL 2,409 12,818,847 24,927,521 9,436,732 13,485,856 33,697,244 47,183,100 (7,451,382 ) Schedule III – Footnotes (a) The following table reconciles real estate assets per Schedule III to the Consolidated Balance Sheets in Item 8. Financial Statements and Supplementary Data at December 31, 2021 (in thousands): Total operating properties and development portfolio per Schedule III $ 47,183,100 (g) Land 2,519,590 Other real estate investments (i) 3,302,500 Total per Consolidated Balance Sheets $ 53,005,190 (i) Other real estate investments includes n on-strategic real estate assets acquired that we do not intend to operate long-term at December 31, 2021. (b) The aggregate cost for federal tax purposes at December 31, 2021, of our real estate assets was approximately $40 billion (unaudited). (c) Real estate assets (excluding land balances) are depreciated over their estimated useful lives. These useful lives are generally 5 to 7 years for capital improvements, 10 years for standard tenant improvements, 15 to 25 years for depreciable land improvements, 25 to 35 years for operating properties acquired based on the age of the building and 40 years for operating properties we develop. The following table reconciles accumulated depreciation per Schedule III to the Consolidated Balance Sheets in Item 8. Financial Statements and Supplementary Data at December 31, 2021 (in thousands): Total accumulated depreciation per Schedule III $ 7,451,382 (g) Accumulated depreciation on other real estate investments 216,805 Total per Consolidated Balance Sheets $ 7,668,187 (d) Properties with an aggregate undepreciated cost of $1.3 billion secure $397.2 million of mortgage notes. See Note 8 to the Consolidated Financial Statements in Item 8. Financial Statements and Supplementary Data for more information related to our secured mortgage debt. (e) Assessment bonds of $9.6 million are secured by assessments (similar to property taxes) on various underlying real estate properties with an aggregate undepreciated cost of $638.7 million. The assessment bonds are included in term loans and unsecured other debt in Note 8 to the Consolidated Financial Statements in Item 8. Financial Statements and Supplementary Data. (f) Date of construction is provided for properties in the development portfolio that were completed but not yet stabilized. (g) The following table summarizes our real estate assets and accumulated depreciation per Schedule III for the years ended December 31 (in thousands): 2021 2020 2019 Real estate assets: Balance at beginning of year $ 45,390,230 $ 33,157,100 $ 32,774,956 Acquisitions of and improvements to operating properties, development activity and net effect of changes in foreign exchange rates and other 3,351,730 13,985,898 2,821,919 Basis of operating properties disposed of (1,589,527 ) (1,045,128 ) (1,471,764 ) Change in the development portfolio balance, including the acquisition of properties 846,729 13,345 (273,534 ) Assets transferred to held for sale and contribution (816,062 ) (720,985 ) (694,477 ) Balance at end year $ 47,183,100 $ 45,390,230 $ 33,157,100 Accumulated depreciation: Balance at beginning of year $ 6,370,341 $ 5,294,212 $ 4,550,958 Depreciation expense 1,143,758 1,112,075 843,872 Balances retired upon disposition of operating properties and net effect of changes in foreign exchange rates and other (42,483 ) (35,083 ) (77,583 ) Assets transferred to held for sale and contribution (20,234 ) (863 ) (23,035 ) Balance at end of year $ 7,451,382 $ 6,370,341 $ 5,294,212

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation. The accompanying Consolidated Financial Statements are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) and are presented in our reporting currency, the U.S. dollar. Intercompany transactions with consolidated entities have been eliminated.
Consolidation	Consolidation. We consolidate all entities that are wholly owned and those in which we own less than 100% of the equity but control, as well as any variable interest entities (“VIEs”) in which we are the primary beneficiary. We evaluate our ability to control an entity and whether the entity is a VIE and we are the primary beneficiary through consideration of substantive terms of the arrangement to identify which enterprise has the power to direct the activities of the entity that most significantly impact the entity’s economic performance and the obligation to absorb losses and the right to receive benefits from the entity.
Use of Estimates	Use of Estimates. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. Although we believe the assumptions and estimates we made are reasonable and appropriate, as discussed in the applicable sections throughout the Consolidated Financial Statements, different assumptions and estimates could materially impact our reported results.
Foreign Operations	Foreign Operations. The U.S. dollar is the functional currency for our consolidated subsidiaries and unconsolidated entities operating in the U.S. and Mexico. The functional currency for our consolidated subsidiaries and unconsolidated entities operating in other countries is the principal currency in which the entity’s assets, liabilities, income and expenses are denominated, which may be different from the local currency of the country of incorporation or where the entity conducts its operations. The functional currencies of entities outside of the U.S. and Mexico generally include the Brazilian real, British pound sterling, Canadian dollar, Chinese renminbi, euro, Japanese yen, Singapore dollar and Swedish krona. We take part in business transactions denominated in these and other local currencies where we operate. For our consolidated subsidiaries whose functional currency is not the U.S. dollar, we translate their financial statements into U.S. dollars at the time we consolidate those subsidiaries’ financial statements. Generally, assets and liabilities are translated at the exchange rate in effect at the balance sheet date. The resulting translation adjustments are included in Accumulated Other Comprehensive Income (Loss) AOCI/L We and certain of our consolidated subsidiaries have intercompany and third-party debt that is not denominated in the entity’s functional currency. When the debt is remeasured against the functional currency of the entity, a gain or loss can result. The resulting adjustment is reflected in Foreign Currency and Derivative Gains (Losses), Net AOCI/L
Acquisitions	Acquisitions. We apply a screen test to evaluate if substantially all the fair value of the acquired property is concentrated in a single identifiable asset or group of similar identifiable assets to determine whether a transaction is accounted for as an asset acquisition or business combination. As most of our real estate acquisitions are concentrated in either a single or a group of similar identifiable assets, our real estate transactions are generally accounted for as asset acquisitions, which permits the capitalization of transaction costs to the basis of the acquired property. We measure the real estate assets acquired through an asset acquisition based on their cost or total consideration exchanged and any excess consideration or bargain purchase amount is allocated to the real estate properties and related lease intangibles on a relative fair value basis . All other assets and liabilities assumed, including debt, and real estate assets that we do not intend to operate long-term are recorded at fair value. At a property-level, we allocate the fair value to the components which include building, land, improvements, and intangible assets or liabilities related to acquired leases. Purchase price allocations for a business combination are recorded at fair value. When we obtain control of an unconsolidated entity and the acquisition qualifies as a business combination, we account for the acquisition in accordance with the guidance for a business combination achieved in stages. We remeasure our previously held interest in the unconsolidated entity at its acquisition-date fair value and recognize any resulting gain or loss in earnings. We allocate the purchase price using primarily Level 2 and Level 3 inputs (further defined in Fair Value Measurements below) as follows: Investments in Real Estate Properties. We value operating properties as if vacant. We estimate fair value by applying an income approach methodology using either a discounted cash flow analysis or applying a capitalization rate to the estimated Net Operating Income (“NOI”) of a property. Key assumptions include market rents, growth rates, and discount and capitalization rates. Estimates of future cash flows are based on a number of factors including historical operating results, known trends and market and economic conditions. We determine the discount or capitalization rate by market based on recent transactions and other market data and adjust if necessary, based on the property characteristics. The fair value of land is generally based on relevant market data, such as a comparison of the subject site to similar parcels that have recently been sold or are currently being offered on the market for sale. At a property level, we allocate the fair value to land and building. Lease Intangibles . We determine the portion of the purchase price related to acquired in-place leases as intangible assets and liabilities as follows: • Above and Below Market Leases . We recognize an asset or liability for acquired leases with favorable or unfavorable in-place rents as compared to our estimate of current market rents of the applicable markets. The above or below market lease intangibles are valued using a discounted cash flow approach through which we recognize the present value of the difference in cash flows between in-place and market rents. The value is recorded in either Other Assets or Other Liabilities , as appropriate, and is amortized over the remaining term of the respective leases, including any bargain renewal options, to rental revenues. • Foregone Rent . We calculate the value of the revenue and recovery of costs foregone during a reasonable lease-up period, as if the space was vacant, in each of the applicable markets. The values are recorded in Other Assets and amortized over the remaining life of the respective leases to amortization expense. • Leasing Commissions. We recognize an asset for leasing commissions based on our estimate of the cost to lease space in the applicable markets. The value is recorded in Other Assets and amortized over the remaining life of the respective leases to amortization expense. Investments in Unconsolidated Entities. We estimate the fair value of the entity by using similar valuation methods as those used for the consolidated real estate properties and debt. We apply our ownership percentage to the estimated net asset value of the entity to determine the fair value of our investment. Debt . We estimate the fair value of debt based on contractual future cash flows discounted using borrowing spreads and market interest rates that would be available to us for the issuance of debt with similar terms and remaining maturities. In the case of publicly traded debt, we estimate the fair value based on available market data. Any discount or premium to the principal amount is included in the carrying value and amortized to interest expense over the remaining term of the related debt using the effective interest method. Noncontrolling Interests . We estimate the portion of the fair value of the net assets owned by third parties based on the fair value of the consolidated net assets, principally real estate properties and debt. Working Capital . We estimate the fair value of other acquired assets and assumed liabilities using the best information available.
Fair Value Measurements	Fair Value Measurements. The objective of fair value is to determine the price that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (the exit price). We estimate fair value using available market information and valuation methodologies we believe to be appropriate for these purposes. Considerable judgment and a high degree of subjectivity are involved in developing these estimates and, accordingly, they are not necessarily indicative of amounts that we would realize on disposition. The fair value hierarchy consists of three broad levels: • Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date. • Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. • Level 3 — Unobservable inputs for the asset or liability. Fair Value Measurements on a Recurring Basis. We estimate the fair value of our financial instruments using available market information and valuation methodologies we believe to be appropriate for these purposes. We determine the fair value of our derivative financial instruments using widely accepted valuation techniques. The technique utilized depends on the type of derivative financial instrument being valued, principally foreign currency forwards and interest rate swaps, and involves the contractual term of the derivative, observable market-based inputs and implied volatilities. We determine the fair values of our interest rate swaps using a market standard methodology of netting the discounted future fixed cash receipts and the discounted expected variable cash payments through a discounted cash flow analysis. We base the variable cash payments on an expectation of future interest rates, or forward curves, derived from observable market interest rate curves through the contractual term of the debt. We determine the fair values of our foreign currency forwards by comparing the contracted forward exchange rate to the current market exchange rate. We build a foreign exchange forward curve to determine the foreign exchange forward rate that pertains to the specific maturity date. Using this foreign exchange forward rate, spot rates and the interest rate curve of the domestic currency as inputs, we calculate the mark-to-market value of the forward. We incorporate credit valuation adjustments to appropriately reflect nonperformance risk for us and the respective counterparty in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we consider the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. We have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy. Although the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by us and our counterparties, we assess the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivatives. Fair Value Measurements on a Nonrecurring Basis. Assets measured at fair value on a nonrecurring basis generally consist of real estate assets and investments in unconsolidated entities that were subject to impairment charges due to our evaluation of recoverability whenever events or changes in circumstances indicate the carrying amount may not be recoverable. As discussed below, our analysis of recoverability is primarily triggered based on the shortening of the expected hold period due to our change in intent to sell a property in the near term. We estimate the fair value of our investments based on expected sales prices in the market (Level 2) or by applying the income approach methodology using a discounted cash flow analysis (Level 3). Fair Value of Financial Instruments. We estimate the fair value of our senior notes for disclosure purposes based on quoted market prices for the same (Level 1) or similar (Level 2) issues when current quoted market prices are available. We estimate the fair value of our credit facilities, term loans, secured mortgage debt and other debt by discounting the future cash flows using rates and borrowing spreads currently available to us (Level 3).
Real Estate Assets	Real Estate Assets. Real estate assets are carried at depreciated cost. We capitalize costs incurred in developing, redeveloping and improving real estate assets as part of the investment basis. We expense costs for repairs and maintenance as incurred. Depreciation and Amortization. We charge the depreciable portions of real estate assets to depreciation expense on a straight-line basis over the respective estimated useful lives. Depreciation on development buildings commences when the asset is ready for its intended use, which we define as the earlier of stabilization (90% occupied) or one year after completion of construction. We generally use the following useful lives: 5 to 7 years for capital improvements, 10 years for standard tenant improvements, 15 to 25 years for depreciable land improvements, 25 to 35 years for operating properties acquired based on the age of the building and 40 years for operating properties we develop. We depreciate building improvements on land parcels subject to land leases over the shorter of the estimated life of the building improvement or the contractual term of the underlying land lease. Capitalized leasing costs are amortized over the estimated remaining lease term. Our weighted average lease term on leases commenced during 2021, based on square feet for all leases, was 62 months. Capitalization of Costs. During the land development and construction periods of qualifying projects, we capitalize interest costs, insurance, real estate taxes and general and administrative costs of the personnel performing the development; if such costs are incremental and identifiable to a specific activity to ready the asset for its intended use. We capitalize transaction costs related to the acquisition of land for future development and operating properties that qualify as asset acquisitions. We capitalize incremental, third-party costs incurred to successfully originate a lease that result directly from obtaining a lease and would not have been incurred if the lease had not been obtained. Beginning on January 1, 2019, we no longer capitalize internal costs related to our leasing activities and amounts capitalized prior to adoption continue to be amortized in accordance with previously applicable guidance. Leasing costs that meet the requirements for capitalization are presented as a component of and all other capitalized costs are included in the investment basis of the real estate assets. Recoverability of Real Estate Assets. We assess the carrying values of our respective long-lived assets whenever events or changes in circumstances indicate that the carrying amounts of these assets may not be fully recoverable. This assessment is primarily triggered based on the shortening of the expected hold period due to our change in intent to sell a property in the near term. We have processes to monitor our intent with regard to our investments and the estimated disposition value in comparison to the current carrying value. If our assessment of potential triggering events indicates that the carrying value of a property that we expect to sell in the near term is not recoverable, we recognize an impairment charge for the amount by which the carrying value exceeds the current estimated fair value of the property. We determine the fair value of the property based on the proceeds from disposition that are estimated based on quoted market values, third-party appraisals or discounted cash flow models that utilize the future net rental income of the property and expected market capitalization rates. The use of projected future cash flows is based on assumptions that are consistent with our estimates of future expectations and the strategic plan we use to manage our underlying business. Changes in economic and operating conditions could impact our intent and the assumptions used in determining the fair value that could result in future impairment. At least annually or more frequently given the presence of a triggering event, we measure the recoverability of our assets. We compare the carrying amount of the asset to the fair value based on our intent as follows: • for real estate properties that we intend to hold long-term; including land held for development, properties currently under development and operating properties; recoverability is assessed based on the estimated undiscounted future net rental income from operating the property and the terminal value, including anticipated costs to develop; • for real estate properties we intend to sell, including properties currently under development and operating properties; recoverability is assessed based on proceeds from disposition that are estimated based on the future net rental income of the property, expected market capitalization rates and anticipated costs to develop; • for land parcels we intend to sell, recoverability is assessed based on the estimated proceeds from disposition; and • for costs incurred related to the potential acquisition of land and operating properties and future development projects, recoverability is assessed based on the probability that the acquisition or development is likely to occur at the measurement date.
Assets Held for Sale or Contribution	Assets Held for Sale or Contribution. We classify a property as held for sale or contribution when certain criteria are met in accordance with GAAP. Assets classified as held for sale are expected to be sold to a third party and assets classified as held for contribution are generally newly developed assets we intend to contribute to an unconsolidated co-investment venture within twelve months. When the criteria are met, the respective assets and liabilities are presented separately in the Consolidated Balance Sheets and depreciation is not recognized. Assets held for sale or contribution are reported at the lower of carrying amount or estimated fair value less costs to sell.
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities. We present our investments in certain entities under the equity method. We use the equity method when we have the ability to exercise significant influence over operating and financial policies of the venture but do not have control of the entity. Under the equity method, we initially recognize these investments (including advances) in the balance sheet at our cost, including formation costs and net of deferred gains from the contribution of properties (recognized prior to January 1, 2018), if applicable. The transaction costs related to the formation of equity method investments are also capitalized. We subsequently adjust the accounts to reflect our proportionate share of net earnings or losses recognized and accumulated other comprehensive income or loss, distributions received, contributions made , sales and redemptions of our investments and certain other adjustments, as appropriate. When circumstances indicate there may have been a reduction in the value of an equity investment, we evaluate whether the loss in value is other than temporary. If we conclude it is other than temporary, we recognize an impairment charge to reflect the equity investment at fair value. With regard to distributions from unconsolidated entities, we have elected the nature of distribution approach as the information is available to us to determine the nature of the underlying activity that generated the distributions. In accordance with the nature of distribution approach, cash flows generated from the operations of an unconsolidated entity are classified as a return on investment (cash inflow from operating activities) and cash flows that are generated from property sales, debt refinancing or sales and redemptions of our investments are classified as a return of investment (cash inflow from investing activities).
Cash and Cash Equivalents	Cash and Cash Equivalents. We consider all cash on hand, demand deposits with financial institutions and short-term highly liquid investments with original maturities of three months or less to be cash equivalents. Our cash and cash equivalents are financial instruments that are exposed to concentrations of credit risk. We invest our cash with high-credit quality institutions both domestically and internationally. Cash balances may be invested in money market accounts that are not insured. We have not realized any losses of such cash investments or accounts and believe that we are not exposed to any significant credit risk.
Derivative Financial Instruments	Derivative Financial Instruments. We primarily hedge our foreign currency risk by borrowing in the currencies in which we invest. We may use derivative financial instruments, such as foreign currency forward and option contracts to manage foreign currency exchange rate risk related to both our foreign investments and the related earnings. In addition, we occasionally use interest rate swap and forward contracts to manage interest rate risk and limit the impact of future interest rate changes on earnings and cash flows, primarily with variable-rate debt. We do not use derivative financial instruments for trading or speculative purposes. Each derivative transaction is customized and not exchange-traded. We recognize all derivatives at fair value within the line items Other Assets Other Liabilities Designated Derivatives. We may choose to designate our derivative financial instruments, generally foreign currency forwards to hedge our net investment in foreign operations or interest rate swaps to hedge future interest payments on variable debt. At inception of the transaction, we formally designate and document the derivative financial instrument as a hedge of a specific underlying exposure, the risk management objective and the strategy for undertaking the hedge transaction. We formally assess both at inception and at least quarterly thereafter, the effectiveness of our hedging transactions. Due to the high degree of effectiveness between the hedging instruments and the underlying exposures hedged, fluctuations in the value of the derivative financial instruments will generally be offset by changes in the cash flows or fair values of the underlying exposures being hedged. Changes in the fair value of derivatives that are designated and qualify as net investment hedges of our foreign operations and cash flow hedges are recorded in AOCI/L AOCI/L Foreign Currency and Derivative Gains (Losses), Net For cash flow hedges, we report the effective portion of the gain or loss as a component of AOCI/ Interest Expense Interest Expense AOCI/L Interest Expense Undesignated Derivatives. We also use derivatives, such as foreign currency forwards and option contracts, that are not designated as hedges to manage foreign currency exchange rate risk related to the translation of our results of operations. The changes in fair values of these derivatives that were not designated as hedging instruments are immediately recognized in earnings within the line item . These gains or losses are generally offset by lower or higher earnings due to the translation at exchange rates that were different than our expectations. In addition, we may choose to not designate our interest rate swap contracts . If a swap contract is not designated as a hedge, the changes in fair value of these instruments is immediately recognized in earnings within the line item Interest Expense in the Consolidated Statements of Income .
Noncontrolling Interests	Noncontrolling Interests. Noncontrolling interests represent the share of consolidated entities owned by third parties. We recognize each noncontrolling holder’s respective share of the estimated fair value of the net assets at the date of formation or acquisition. Noncontrolling interests are subsequently adjusted for the noncontrolling holder’s share of additional contributions, distributions and their share of the net earnings or losses of each respective consolidated entity. We allocate net income to noncontrolling interests based on the weighted average ownership interest during the period. The net income that is not attributable to us is reflected in the line item Net Earnings Attributable to Noncontrolling Interests . We do not recognize a gain or loss on transactions with a consolidated entity in which we do not own 100% of the equity and recognize the difference between the carrying amount of the noncontrolling interest and the consideration paid or received as additional paid-in-capital Certain limited partnership interests, including OP units, are exchangeable into our common stock. Common stock issued upon exchange of a holder’s noncontrolling interest is accounted for at the carrying value of the surrendered limited partnership interest and the difference between the carrying value and the fair value of the common stock issued is recorded to additional paid-in-capital.
Revenue Recognition	Revenue Recognition. Rental Revenues and Recoveries. We lease our operating properties to customers under agreements that are classified as operating leases. We recognize the total minimum lease payments provided for under the leases on a straight-line basis over the lease term. Generally, under the terms of our leases, the majority of our rental expenses are recovered from our customers, including common area maintenance, real estate taxes and insurance. Rental expenses recovered through reimbursements received from customers are recognized in in the Consolidated Statements of Income. We generally record amounts reimbursed by our customers (“rental recoveries”) as revenues in the period that the applicable expenses are incurred. We account for and present rental revenue and rental recoveries as a single component under as the timing of recognition is the same, the pattern with which we transfer the right of use of the property and related services to the lessee are both on a straight-line basis and our leases qualify as operating leases. We perform credit analyses of our customers prior to the execution of our leases and continue these analyses for each individual lease on an ongoing basis in order to ensure the collectability of rental revenue. We recognize revenue to the extent that amounts are determined to be collectible. Strategic Capital Revenues. Strategic capital revenues include revenues we earn from the management services we provide to unconsolidated entities. These fees are determined in accordance with the terms specific to each arrangement and may include recurring fees such as asset management and property management fees or transactional fees for leasing, acquisition, development, construction, financing and tax services provided. We recognize these fees as we provide the services or on a cost basis for development fees. We may also earn incentive returns (“promotes” or “promote revenues”) based on a venture’s cumulative returns over a certain time-period and the returns are determined by both the operating performance and real estate valuation of the venture, including highly variable inputs such as capitalization rates, market rents, interest rates and foreign currency exchange rates. As these key inputs are highly volatile and out of our control, and such volatility can materially impact our promotes period over period, we recognize promote revenues at the end of the performance period. We generally earn promote revenue directly from third-party investors in the co-investment ventures. We include the third-party investors’ share of promotes in Strategic Capital Revenues. We also earn fees from ventures that we consolidate. Upon consolidation, these fees are eliminated from our earnings and the third-party investors’ share of these fees are recognized as a reduction of Net Earnings Attributable to Noncontrolling Interests. Development Management and Other Revenues. Development management and other revenues principally include development and construction management fees and are recognized as we provide the services or on a cost basis.
Gains on Real Estate Transactions, Net	Gains on Real Estate Transactions, Net. T hroughout the Notes to the Consolidated Financial Statements, Gains on Real Estate Transactions, Net Gains on Dispositions of Development Properties and Land, Net Gains on Other Dispositions of Investments in Real Estate, Net We recognize gains on the disposition of real estate when control transfers to the buyer, generally when consideration and title are exchanged and the risks and rewards of ownership transfer. We recognize losses from the disposition of real estate when known. Beginning January 1, 2018 with the adoption of the new revenue recognition guidance, we recognize the entire gain attributed to contributions of real estate properties to unconsolidated entities. We previously recognized a gain on contribution only to the extent of the third-party ownership in the unconsolidated entity acquiring the property and deferred the portion of the gain related to our ownership through a reduction to our investment in the applicable unconsolidated entity. We adjusted our proportionate share of net earnings or losses recognized in future periods to reflect the entities’ recorded depreciation expense as if it were computed on our lower basis in the contributed properties rather than on the entity’s basis. Gains on Dispositions of Development Properties and Land, Net. We present gains separately based on the type of real estate sold or contributed. We present gains on sales to third parties or contributions to our unconsolidated entities as when the property was included in our land portfolio or when we developed the property with the intent to sell or contribute. Gains on Other Dispositions of Investments in Real Estate, Net. We present all other gains on sales to third parties or contributions to our unconsolidated entities of primarily operating properties and other real estate transactions as . We also include gains or losses on the remeasurement of equity investments to fair value upon acquisition of a controlling interest and the transaction is considered the acquisition of a business and gains or losses upon the partial redemption or sale of our investment in an unconsolidated entity.
Rental Expense	Rental Expenses. Rental expenses principally include the cost of our property management personnel, utilities, repairs and maintenance, property insurance, real estate taxes and the other costs of managing our properties. Beginning January 1, 2019, certain indirect costs, such as salaries and related costs for employees working on leasing activities for our properties are now expensed through Rental Expenses. We are also a lessee of land under leases which generally meet the criteria to be accounted for as operating leases.
Strategic Capital Expenses	Strategic Capital Expenses. Strategic capital expenses generally include the direct expenses associated with the asset management of the co-investment ventures provided by our employees who are assigned to our Strategic Capital segment and the costs of our Prologis Promote Plan (“PPP”) based on earned promotes. For further discussion on the PPP, see Note 12. In addition, in order to achieve efficiencies and economies of scale, all of our property management and leasing functions are provided by property management and leasing personnel who are assigned to our Real Estate Operations segment. These individuals perform the property-level management and leasing of the properties in our owned and managed portfolio, which include properties we consolidate and those we manage that are owned by the unconsolidated co-investment ventures. We allocate the costs of our property management and leasing teams to the properties we consolidate (included in Rental Expenses ) and the properties owned by the unconsolidated co-investment ventures (included in Strategic Capital Expenses ) by using the square feet owned by the respective portfolios.
Equity-Based Compensation	Equity-Based Compensation. We account for equity-based compensation by measuring the cost of employee services received in exchange for an award of an equity instrument based on the fair value of the award on the grant date. We recognize the cost of the award on a straight-line basis over the period during which an employee is required to provide service in exchange for the award, generally the vesting period.
Income Taxes	Income Taxes. Under the IRC, REITs are generally not required to pay federal income taxes if they distribute 100% of their taxable income and meet certain income, asset and stockholder tests. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes at regular corporate rates and may not be able to qualify as a REIT for the four subsequent taxable years. Even as a REIT, we may be subject to certain foreign, state and local taxes on our own income and property, and to federal income and excise taxes on our undistributed taxable income. We have elected taxable REIT subsidiary (“TRS”) status for some of our consolidated subsidiaries. This allows us to provide services that would otherwise be considered impermissible for REITs. Many of the foreign countries in which we have operations do not recognize REITs or do not accord REIT status under their respective tax laws to our entities that operate in their jurisdiction. In the U.S., we are taxed in certain states in which we operate. Accordingly, we recognize income tax expense for the federal and state income taxes incurred by our TRSs, taxes incurred in certain states and foreign jurisdictions, and interest and penalties associated with our unrecognized tax benefit liabilities. We evaluate tax positions taken in the Consolidated Financial Statements under the interpretation for accounting for uncertainty in income taxes. As a result of this evaluation, we may recognize a tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities. We recognize deferred income taxes in certain taxable entities. For federal income tax purposes, certain acquisitions have been treated as tax-free transactions resulting in a carry-over basis in assets and liabilities. For financial reporting purposes and in accordance with purchase accounting, we record all of the acquired assets and assumed liabilities based on their relative fair value at date of acquisition, as discussed above. For our taxable subsidiaries, including certain international jurisdictions, we recognize the deferred income tax liabilities that represent the tax effect of the difference between the tax basis carried over and the fair value of the tangible and intangible assets at date of acquisition. Any subsequent increases or decreases to the deferred income tax liability recorded in connection with these acquisitions, are reflected in earnings. If taxable income is generated in these subsidiaries, we recognize a benefit in earnings as a result of the reversal of the deferred income tax liability previously recorded at the acquisition date and we record current income tax expense representing the entire current income tax liability. If the reversal of the deferred income tax liability results from a sale or contribution of assets, the classification of the reversal to the Consolidated Statements of Income is based on the taxability of the transaction. If the sale or contribution is of the real estate asset and results in a taxable transaction, the reversal is recorded to deferred income tax benefit. If the sale or contribution is the disposition of the entity that owns the asset, the reversal is recorded through gains. Deferred income tax expense is generally a function of the period’s temporary differences (items that are treated differently for tax purposes than for financial reporting purposes) and the utilization of tax net operating losses (“NOL”) generated in prior years that had been previously recognized as deferred income tax assets. We provide for a valuation allowance for deferred income tax assets if we believe all or some portion of the deferred income tax asset may not be realized. Any increase or decrease in the valuation allowance that results from a change in circumstances that causes a change in the estimated ability to realize the related deferred income tax asset is included in deferred tax expense.
Environmental Costs	Environmental Costs. We incur certain environmental remediation costs, including cleanup costs, consulting fees for environmental studies and investigations, monitoring costs, and legal costs relating to cleanup, litigation defense, and the pursuit of responsible third parties. We expense costs incurred in connection with operating properties and properties previously sold. We capitalize costs related to undeveloped land as development costs and record any expected future environmental liabilities at the time of acquisition. We maintain a liability for the estimated costs of environmental remediation expected to be incurred in connection with undeveloped land, acquired operating properties and properties previously sold that we adjust as appropriate as information becomes available.
Reclassification	Reclassifications. Lease right-of-use assets and lease liabilities have been reclassified in the Consolidated Financial Statements for 2020 to Other Assets and Other Liabilities , respectively, in order to conform to the 2021 financial statement presentation.
Accounting Pronouncements	Accounting Pronouncements. Reference Rate Reform. In March 2020, the Financial Accounting Standards Board 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. We refer to this transition as “reference rate reform.” The ASU was effective upon issuance on a prospective basis beginning January 1, 2020 and we elected to adopt the ASU over time as our reference rate reform activities occurred. In reliance on the relief, we modified certain of our Japanese yen term loans ($955.6 million at December 31, 2021) and our available commitments in British pound sterling and Japanese yen on our global senior credit facilities and Japanese revolver associated with the GBP LIBOR and Yen LIBOR rates prior to December 31, 2021. We did not modify any derivative financial instruments, as none were impacted by this ASU at December 31, 2021.

Liberty Transaction (Tables)

Liberty Transaction (Tables) - Liberty Transaction [Member]	12 Months Ended
	Dec. 31, 2021
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 price of Prologis' common stock on February 3, 2020 $ 91.87 Fair value of Prologis shares and units issued $ 10,015
Schedule of Purchase Price Allocated to Real Estate Properties and Related Lease Intangibles	Under acquisition accounting, the total purchase price was allocated to the Liberty real estate properties and related lease intangibles on a relative fair value basis. All other assets acquired and liabilities assumed, including debt, and real estate assets that we do not intend to operate long-term were recorded at fair value as follows (in millions): Net investments in real estate $ 12,636 Intangible assets, net of intangible liabilities 491 Cash and other assets 233 Debt (2,845 ) Accounts payable, accrued expenses and other liabilities (383 ) Noncontrolling interests (1 ) Total purchase price, including transaction costs $ 10,131

Real Estate (Tables)

Real Estate (Tables)	12 Months Ended
	Dec. 31, 2021
Real Estate [Abstract]
Investments in Real Estate Properties	Investments in real estate properties consisted of the following at December 31 (dollars and square feet in thousands): Square Feet Number of Buildings 2021 2020 2021 2020 2021 2020 Operating properties: Buildings and improvements 444,413 441,336 2,310 2,261 $ 32,159,514 $ 31,489,943 Improved land 12,294,246 12,017,676 Development portfolio, including land costs: Prestabilized 6,325 6,076 16 24 710,091 553,266 Properties under development 28,638 22,004 83 61 2,019,249 1,329,345 Land (1) 2,519,590 1,606,358 Other real estate investments (2) 3,302,500 3,387,740 Total investments in real estate properties 53,005,190 50,384,328 Less accumulated depreciation 7,668,187 6,539,156 Net investments in real estate properties $ 45,337,003 $ 43,845,172 (1) At December 31, 2021 and 2020, our land was comprised of 6,227 and 5,304 acres, respectively. (2) Included in other real estate investments were: (i) non-strategic real estate assets acquired that we do not intend to operate long-term; (ii) real estate assets that we intend to redevelop into industrial properties; (iii) land parcels we own and lease to third parties; and (iv) costs associated with potential acquisitions and future development projects, including purchase options on land.
Schedule of Acquisitions of Properties	The following table summarizes our real estate acquisition activity, excluding the Liberty Transaction as discussed in Note 3, for the years ended December 31 (dollars and square feet in thousands): 2021 (1) 2020 (2) 2019 Number of operating properties 31 150 22 Square feet 6,760 21,874 1,405 Acquisition cost of net investments in real estate, excluding land (3) $ 1,590,457 $ 2,820,692 $ 633,923 Acres of land 2,684 830 1,269 Acquisition cost of land $ 1,452,686 $ 439,773 $ 440,892 (1) In 2021, we acquired additional ownership interest in unconsolidated other ventures from our partners and began consolidating the real estate assets. (2) 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, LLC (“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 we consolidate USLV, the number of operating properties, square feet and acquisition cost for the properties acquired by USLV are included in the consolidated acquisition activity. (3) The acquisition cost of net investments in real estate includes other real estate investments of $525.5 million, $206.1 million and $302.9 million during the years ended December 31, 2021, 2020 and 2019, respectively. Other real estate investments are not included in the number of operating properties and square feet
Number Of Properties Disposed Including Minor Adjustments	The following table summarizes our dispositions of net investments in real estate which include contributions to unconsolidated co-investment ventures and dispositions to third parties for the years ended December 31 (dollars and square feet in thousands): 2021 2020 2019 Dispositions of development properties and land, net (1) Number of properties 41 41 31 Square feet 16,482 14,482 10,027 Net proceeds $ 2,629,750 $ 1,693,557 $ 1,533,055 Gains on dispositions of development properties and land, net $ 817,017 $ 464,942 $ 467,577 Other dispositions of investments in real estate, net (2)(3) Number of properties 97 61 66 Square feet 20,806 10,562 15,816 Net proceeds $ 2,536,622 $ 1,264,692 $ 1,492,212 Gains on contributions and dispositions, net $ 772,570 $ 252,195 $ 255,219 Gains on partial redemptions of investment in an unconsolidated co-investment venture (4) $ - $ - $ 135,022 Total gains on other dispositions of investments in real estate, net $ 772,570 $ 252,195 $ 390,241 (1) The gains we recognize in Gains on Dispositions of Development Properties and Land, Net are primarily driven by the contribution of newly developed properties to our unconsolidated co-investment ventures and occasionally sales to a third party. (2) In 2021, we sold our ownership interest in an unconsolidated other venture. (3) In 2019, we formed Prologis Brazil Logistics Venture (“PBLV”), a Brazilian unconsolidated co-investment venture, with one partner. We contributed an initial portfolio of real estate properties to PBLV consisting of 14 operating properties totaling 6.9 million square feet and 371 acres of land. We received cash proceeds and units for our 20% equity interest (4) In 2019, we redeemed a portion of our investment in a European unconsolidated co-investment venture.
Summary of Minimum Lease Payments on Leases	The following table summarizes the minimum lease payments due from our customers on leases for space in our operating properties, prestabilized and under development properties, other real estate investments and assets held for sale or contribution at December 31, 2021 (in thousands): 2022 $ 3,160,098 2023 2,990,115 2024 2,605,766 2025 2,223,715 2026 1,791,256 Thereafter 6,462,209 Total $ 19,233,159
Future Minimum Rental Payments under Non-Cancelable Operating Leases	The following table summarizes the fixed, future minimum rental payments, excluding variable costs, for leases that had commenced at December 31, 2021, with amounts discounted by our incremental borrowing rates to calculate the lease liabilities of our leases (in thousands): 2022 $ 49,740 2023 47,453 2024 46,823 2025 43,293 2026 30,708 Thereafter 580,056 Total undiscounted rental payments 798,073 Less imputed interest 349,628 Total lease liabilities $ 448,445

Unconsolidated Entities (Tables

Unconsolidated Entities (Tables)	12 Months Ended
	Dec. 31, 2021
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in and Advances to our Unconsolidated Entities	The following table summarizes our investments in and advances to unconsolidated entities at December 31 (in thousands): 2021 2020 Unconsolidated co-investment ventures $ 7,825,455 $ 6,685,567 Other ventures (1) 785,503 916,447 Total $ 8,610,958 $ 7,602,014 (1) In 2021, we acquired additional ownership interest in unconsolidated other ventures from our partners and began consolidating the real estate assets. We also sold our ownership interest in an unconsolidated other venture.
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 on a U.S. GAAP basis (not our proportionate share) and the amounts we recognized in the Consolidated Financial Statements related to these ventures at December 31 and for the years ended December 31 (dollars and square feet in millions): U.S. Other Americas (1) Europe Asia Total At: 2021 2020 2021 2020 2021 2020 2021 2020 2021 2020 Key property information: Ventures 1 1 2 2 2 3 3 3 8 9 Operating properties 732 706 254 229 818 768 203 167 2,007 1,870 Square feet 122 117 56 51 198 185 82 67 458 420 Financial position: Total assets ($) 11,619 10,840 3,349 3,023 18,373 16,918 10,746 10,209 44,087 40,990 Third-party debt ($) 3,069 3,129 1,052 854 3,737 4,002 4,157 3,831 12,015 11,816 Total liabilities ($) 3,717 3,722 1,116 898 5,619 5,607 4,685 4,389 15,137 14,616 Our investment balance ($) (2) 2,393 1,886 840 811 3,712 3,152 880 837 7,825 6,686 Our weighted average ownership (3) 27.0 % 25.6 % 40.8 % 40.8 % 30.9 % 30.0 % 15.1 % 15.2 % 26.9 % 26.1 % U.S. Other Americas (1) Europe Asia Total Operating Information: 2021 2020 2019 2021 2020 2019 2021 2020 2019 2021 2020 2019 2021 2020 2019 For the years ended: Total revenues ($) 1,039 946 738 321 278 266 1,387 1,208 1,099 653 584 514 3,400 3,016 2,617 Net earnings ($) 312 169 128 120 91 91 1,070 390 311 160 255 49 1,662 905 579 Our earnings from unconsolidated co-investment ventures, net ($) 82 46 38 43 34 32 214 121 102 27 39 10 366 240 182 (1) PBLV and our other Brazilian joint ventures are combined as one venture for the purpose of this table. (2) Prologis’ investment balance is presented at our adjusted basis. The difference between our ownership interest of a venture’s equity and our investment balance at December 31, 2021 and 2020, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018 ($559.7 million and $589.3 million, respectively); (ii) recording additional costs associated with our investment in the venture ($96.6 million and $101.5 million, respectively); (iii) receivables, principally for fees and promotes ($149.5 million and $165.6 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to NPR, as discussed above. (3) Represents our weighted average ownership interest in all unconsolidated co-investment ventures based on each entity’s contribution of total assets before depreciation, net of other liabilities.
Information About Investments in Co-investment Ventures by Property Funds	The following table summarizes our investments in the individual co-investment ventures at December 31 (dollars in thousands): Ownership Percentage Investment in and Advances to Co-Investment Venture 2021 2020 2021 2020 Prologis Targeted U.S. Logistics Fund, L.P. (“USLF”) 27.0 % 25.6 % $ 2,393,232 $ 1,885,467 FIBRA Prologis (1) 47.3 % 46.8 % 694,590 691,204 Prologis European Logistics Partners Holding Sàrl (“PELP”) (2) (3) 50.0 % 50.0 % 2,097,332 1,687,749 Prologis European Logistics Fund (“PELF”) (3) 23.8 % 24.3 % 1,605,253 1,401,355 Prologis UK Logistics Venture (“UKLV”) (2) (3) 15.0 % 15.0 % 9,243 63,228 Nippon Prologis REIT, Inc. (“NPR”) (4) 15.1 % 15.1 % 684,029 643,663 Prologis China Core Logistics Fund, LP (“PCCLF”) 15.3 % 15.8 % 75,922 81,581 Prologis China Logistics Venture I, LP, II, LP and III, LP (“Prologis China Logistics Venture”) (2) 15.0 % 15.0 % 120,283 111,406 Prologis Brazil Logistics Venture (“PBLV”) and other joint ventures (2) 20.0 % 20.0 % 145,571 119,914 Total $ 7,825,455 $ 6,685,567 (1) At December 31, 2021, we owned 404.6 million units of FIBRA Prologis that had a closing price of Ps 56.83 ($2.77) per unit on the Mexican Stock Exchange. We have granted FIBRA Prologis a right of first refusal with respect to stabilized properties that we plan to sell in Mexico. (2) We have one partner in each of these co-investment ventures. (3) In December 2021, UKLV sold its operating properties to our unconsolidated co-investment ventures, PELF and PELP, and its land to us and recognized the related gains upon disposition. At December 31, 2021, there is a $9.2 million outstanding receivable balance anticipated to be paid in the first quarter of 2022 (4) At December 31, 2021, we owned 0.4 million units of NPR that had a closing price of ¥407,000 ($3,536) per share on the Tokyo Stock Exchange. For any properties we develop and plan to sell in Japan, we have committed to offer those properties to NPR if we determine the properties meet NPR’s investment objectives. At December 31, 2021 and 2020, we had receivables from NPR of $175.2 million and $160.3 million, respectively, related to customer security deposits that originated through a leasing company owned by us that pertain to properties previously contributed to NPR. We have a corresponding payable to NPR’s customers in Other Liabilities
Summary of Strategic Capital Revenues Recognized in Consolidated Statements of Income Related to Co-Investment Ventures	The following table summarizes the Strategic Capital Revenues 2021 2020 2019 Recurring fees $ 395,765 $ 318,423 $ 266,615 Transactional fees 78,552 65,804 57,334 Promote revenue 77,199 239,268 165,635 Total strategic capital revenues from unconsolidated co-investment ventures (1) $ 551,516 $ 623,495 $ 489,584 (1) These amounts exclude strategic capital revenues from other ventures.

Assets Held for Sale or Contr_2

Assets Held for Sale or Contribution (Tables)	12 Months Ended
	Dec. 31, 2021
Real Estate Assets Held For Development And Sale [Abstract]
Summary of Assets Held for Sale or Contribution	Assets held for sale or contribution consisted of the following at December 31 (dollars and square feet in thousands): 2021 2020 (1) Number of operating properties 14 66 Square feet 5,486 12,923 Total assets held for sale or contribution $ 669,688 $ 1,070,724 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 10,631 $ 16,214 (1) At December 31, 2020, Assets Held for Sale or Contribution included certain properties acquired through the Liberty Transaction and the IPT Transaction that were subsequently sold during 2021.

Other Assets and Other Liabil_2

Other Assets and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Text Block [Abstract]
Schedule of Other Assets and Other Liabilities	The following table summarizes our other assets, net of amortization and depreciation, and other liabilities, net of amortization, if applicable, at December 31 (in thousands): 2021 2020 Rent leveling $ 578,960 $ 488,828 Acquired lease intangibles 552,517 726,821 Leasing commissions 520,778 425,995 Lease right-of-use assets (1) 459,364 492,801 Accounts receivable 424,240 189,356 Prepaid assets 153,591 138,726 Value added taxes receivable 133,034 146,270 Fixed assets 118,044 117,700 Derivative assets 91,047 1,667 Other notes receivable 35,970 44,751 Management contracts 12,282 13,610 Deferred income taxes 8,926 5,592 Other 223,701 156,892 Total other assets $ 3,312,454 $ 2,949,009 Lease liabilities (1) $ 448,445 $ 486,972 Tenant security deposits 373,432 342,627 Acquired lease intangibles 198,894 197,807 Unearned rents 164,669 152,536 Income tax liabilities 105,537 86,210 Environmental liabilities 86,920 69,930 Indemnification liability 44,416 45,129 Deferred income 21,699 15,437 Value added taxes payable 17,556 23,959 Liabilities associated with assets held for sale or contribution 10,631 16,214 Derivative liabilities 9,675 36,482 Other 294,315 274,674 Total other liabilities $ 1,776,189 $ 1,747,977 (1) For the amortization of the future minimum rental payments into rental expense and G&A expense on our land and office leases, respectively, refer to Note 4.
Schedule of Amortization Expense and Rental Revenues	The following table summarizes the expected future amortization of leasing commissions and forgone rent (included in acquired lease intangibles above) into amortization expense and above and below market leases (included in acquired lease intangibles above) and rent leveling net assets into rental revenues, all based on the balances at December 31, 2021 (in thousands): Amortization Expense Net Decrease (Increase) to Rental Revenues 2022 $ 241,588 $ (53,070 ) 2023 192,651 24,397 2024 151,053 56,904 2025 117,190 75,823 2026 87,226 72,319 Thereafter 199,398 287,882 Total $ 989,106 $ 464,255

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt Summary	All debt is incurred by the OP or its consolidated subsidiaries. The following table summarizes our debt at December 31 (dollars in thousands): 2021 2020 Weighted Average Amount Weighted Average Amount Interest Rate (1) Term (2) Outstanding (3) Interest Rate (1) Term (2) Outstanding (3) Credit facilities 0.8% 1.6 $ 491,393 0.8% 2.0 $ 171,794 Senior notes (4) 1.7% 11.6 14,981,690 2.0% 11.2 14,275,870 Term loans and unsecured other 0.5% 4.2 1,825,195 0.9% 5.6 1,764,311 Secured mortgage (5) 5.1% 4.7 416,776 3.1% 3.0 637,101 Total 1.6% 10.4 $ 17,715,054 1.9% 10.2 $ 16,849,076
Schedule of Current Availability on Debt and Cash	The following table summarizes information about our available liquidity (dollars in millions): 2021 2020 2019 For the years ended December 31: Weighted average daily interest rate 1.3 % 1.1 % 1.5 % Weighted average daily borrowings $ 60 $ 109 $ 85 Maximum borrowings outstanding at any month-end $ 491 $ 727 $ 257 At December 31: Aggregate lender commitments Credit Facilities $ 4,940 $ 4,119 $ 3,946 Less: Borrowings outstanding 491 172 184 Outstanding letters of credit 7 24 36 Current availability $ 4,442 $ 3,923 $ 3,726 Available term loans - 250 500 Cash and cash equivalents 556 598 1,089 Total liquidity $ 4,998 $ 4,771 $ 5,315
Summary of Issuances and Redemptions of Senior Notes	The senior notes are unsecured and our obligations are effectively subordinated in certain respects to any of our debt that is secured by a lien on real property, to the extent of the value of such real property. The senior notes require interest payments be made quarterly, semi-annually or annually. The majority of the senior notes are redeemable at any time at our option, subject to certain prepayment penalties. Such repurchase and other terms are governed by the provisions of indenture agreements, various note purchase agreements or trust deeds. Aggregate Principal Issuance Date Weighted Average Issuance Date Borrowing Currency USD (1) Interest Rate (2) Term (3) Maturity Dates February € 1,350,000 $ 1,639,305 0.7% 14.3 February 2032 – 2041 February $ 400,000 $ 400,000 1.6% 10.1 March 2031 June ¥ 65,000,000 $ 587,441 0.8% 15.4 June 2028 – 2061 December £ 215,000 $ 284,455 2.0% 17.7 December 2033 – 2041 Total $ 2,911,201 1.0% 14.2 Aggregate Principal Redemption Date Weighted Average Redemption Date Borrowing Currency USD (1) Interest Rate (2) Term (3) Maturity Dates March € 599,514 $ 715,700 3.4% 3.0 February 2024 March $ 750,000 $ 750,000 3.8% 4.7 November 2025 Total $ 1,465,700 3.6% 3.8 (1) The exchange rate used to calculate into U.S. dollars was the spot rate at the settlement date. (2) The weighted average interest rate represents the fixed or variable interest rates of the related debt at the issuance or redemption date. (3) The weighted average term represents the remaining maturity in years on the related debt at the issuance or redemption date.
Summary of Outstanding Term Loans	The following table summarizes our outstanding term loans at December 31 (dollars and borrowing currency in thousands): Term Loan Borrowing Currency Issuance Date Lender Commitment at 2021 Amount Outstanding at 2021 Amount Outstanding at 2020 Interest Rate Maturity Date Borrowing Currency USD USD USD 2017 Term Loan (1) USD, EUR, JPY and GBP June 2014 $ 500,000 $ 500,000 $ - $ 250,000 LIBOR + 0.9% May 2021 2015 Canadian Term Loan CAD December 2015 $ 170,506 $ 134,173 134,173 133,837 CDOR + 0.9% February 2023 March 2017 Yen Term Loan JPY March 2017 ¥ 12,000,000 $ 104,243 104,243 116,414 0.9% and 1.0% March 2027 – 2028 October 2017 Yen Term Loan JPY October 2017 ¥ 10,000,000 $ 86,869 86,869 97,012 0.9% October 2032 December 2018 Yen Term Loan JPY December 2018 ¥ 20,000,000 $ 173,738 173,738 194,023 1.2% and TIBOR + 0.7% December 2031 – June 2033 January 2019 Yen Term Loan JPY January 2019 ¥ 15,000,000 $ 130,304 130,304 145,517 TIBOR + 0.5% to 0.6% January 2028 – 2030 March 2019 Yen Term Loan JPY March 2019 ¥ 85,000,000 $ 738,388 738,388 824,599 TIBOR + 0.4% March 2026 Subtotal 1,367,715 1,761,402 Debt issuance costs, net (5,169 ) (7,385 ) Total term loans $ 1,362,546 $ 1,754,017 (1) In April 2021, the multi-currency term loan (“2017 Term Loan”) was terminated, the outstanding balance paid down and the interest rate swap contracts associated with the outstanding balance of $250.3 million were settled .
Long-Term Debt Maturities	Scheduled principal payments due on our debt for each year through the period ended December 31, 2026, and thereafter were as follows at December 31, 2021 (in thousands): Unsecured Credit Senior Term Loans Secured Maturity Facilities Notes and Other Mortgage Total 2022 (1) $ - $ 509,670 $ 462,649 $ 13,422 $ 985,741 2023 (2) 265,818 - 134,173 35,999 435,990 2024 (3) 225,575 - - 135,510 361,085 2025 - 43,435 - 144,784 188,219 2026 - 966,179 738,388 3,466 1,708,033 Thereafter - 13,536,089 495,154 74,629 14,105,872 Subtotal 491,393 15,055,373 1,830,364 407,810 17,784,940 Premiums (discounts), net - 2,548 - 10,544 13,092 Debt issuance costs, net - (76,231 ) (5,169 ) (1,578 ) (82,978 ) Total $ 491,393 $ 14,981,690 $ 1,825,195 $ 416,776 $ 17,715,054 (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 additional borrowings. (2) Included in the 2023 maturities is the 2019 Global Facility that can be extended until 2024. (3) Included in the 2024 maturities is the 2021 Global Facility that can be extended until 2025.
Interest Expense	The following table summarizes the components of interest expense for the years ended December 31 (in thousands): 2021 2020 2019 Gross interest expense $ 299,115 $ 348,427 $ 271,451 Amortization of debt discounts (premiums), net (7,478 ) (6,741 ) 3,713 Amortization of debt issuance costs, net 16,134 14,600 13,293 Interest expense before capitalization $ 307,771 $ 356,286 $ 288,457 Capitalized amounts (41,543 ) (41,779 ) (48,504 ) Net interest expense $ 266,228 $ 314,507 $ 239,953 Total cash paid for interest, net of amounts capitalized $ 278,861 $ 309,390 $ 214,375

Stockholders' Equity of Prolo_2

Stockholders' Equity of Prologis, Inc. (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Summary of Taxability of Common and Preferred Stock Dividends	The following summarizes the taxability of our common and preferred stock dividends for the years ended December 31: 2021 (1) 2020 2019 Common Stock: Ordinary income $ 2.45 $ 2.12 $ 2.08 Qualified dividend 0.00 0.00 0.00 Capital gains 0.07 0.20 0.04 Total distribution $ 2.52 $ 2.32 $ 2.12 Preferred Stock – Series Q: Ordinary income $ 4.15 $ 3.96 $ 4.00 Qualified dividend 0.01 0.02 0.01 Capital gains 0.11 0.29 0.26 Total dividend $ 4.27 $ 4.27 $ 4.27 (1) Taxability for 2021 is estimated.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2021
Noncontrolling Interest [Abstract]
Summary of Ownership Percentages and Noncontrolling Interests	The following table summarizes these entities at December 31 (dollars in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities 2021 2020 2021 2020 2021 2020 2021 2020 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 3,264,337 $ 3,385,110 $ 7,397,195 $ 7,663,800 $ 147,545 $ 145,131 Other consolidated entities (1) various various 133,201 98,416 1,453,236 1,066,129 162,598 73,987 Prologis, L.P. 3,397,538 3,483,526 8,850,431 8,729,929 310,143 219,118 Limited partners in Prologis, L.P. (2)(3) 917,799 869,507 - - - - Prologis, Inc. $ 4,315,337 $ 4,353,033 $ 8,850,431 $ 8,729,929 $ 310,143 $ 219,118 (1) Includes our two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. The limited partnership units outstanding at December 31, 2021 and 2020 were exchangeable into cash or, at our option, 0.3 million shares of the Parent’s common stock. (2) We had 8.6 million Class A Units at December 31, 2021 and 2020 that were convertible into 8.0 million limited partnership units of the OP at the end of each year. See Note 10 for further discussion of our Class A Units (3) There were limited partnership units in the OP, excluding the Class A Units, that were exchangeable into cash or, at our option, 8.4 million and 8.2 million shares of the Parent’s common stock, at December 31, 2021 and 2020, respectively. Also included are the vested OP Long-Term Incentive Plan Units (“LTIP Units”) associated with our long-term compensation plans of 4.0 million and 3.9 million at December 31, 2021 and 2020, respectively. See further discussion of LTIP Units in Note 12.

Long-Term Compensation (Tables)

Long-Term Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Assumptions Used for Each Grant	The following table details the assumptions used for each grant based on the year it was granted (dollars in thousands): 2021 2020 2019 Risk free interest rate 0.2 % 1.7 % 2.6 % Prologis expected volatility 32.0 % 19.0 % 23.0 % MSCI US REIT Index expected volatility 29.0 % 13.0 % 17.0 % Aggregate fair value $ 30,300 $ 28,800 $ 21,200
POP LTIP Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options, RSU and Performance Share Awards	The performance criteria were met for the 2019 – 2021, 2018 – 2020, 2017 – 2019 and 2016 – 2018 performance periods at the end of the initial three-year 2019 – 2021 2018 – 2020 2017 – 2019 (1) 2016 – 2018 (1) Performance pool $ 100,000 $ 100,000 $ 119,753 $ 114,950 Common stock shares 34 61 384 489 Restricted stock units 134 242 - - POP LTIP Units and LTIP Units 426 701 804 1,082 Average price used to determine number of awards $ 168.37 $ 99.67 $ 100.79 $ 73.20 (1) These performance period amounts include awards earned subsequent to the initial three-year performance 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 performance period if our performance meets or exceeds the MSCI US REIT Index at the end of each of such three years.
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options, RSU and Performance Share Awards	The following table summarizes the activity for RSUs for the year ended December 31, 2021 (units in thousands): Unvested RSUs Weighted Average Grant Date Fair Value Balance at January 1, 2021 986 $ 80.32 Granted (1) 826 90.24 Vested and distributed (414 ) 78.82 Forfeited (161 ) 77.08 Balance at December 31, 2021 1,237 $ 87.87 (1) Included in granted were unvested units based on the POP performance criteria being met for the 2018 – 2020 performance period and represented the earned award amounts subject to an additional vesting period. 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.
Long Term Incentive Plan Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options, RSU and Performance Share Awards	The following table summarizes the activity for LTIP Units for the year ended December 31, 2021 (units in thousands): Unvested LTIP Units Weighted Average Grant Date Fair Value Balance at January 1, 2021 3,052 $ 66.50 Granted (1) 1,337 64.77 Forfeited (51 ) 55.66 Vested LTIP Units (1,021 ) 80.55 Balance at December 31, 2021 3,317 $ 61.65 (1) Included in granted were unvested units based on the POP performance criteria being met for the 2018 – 2020 performance period and represented the earned award amounts subject to an additional vesting period. 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.

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Components of Earnings Before Income Taxes	The following table summarizes the components of earnings before income taxes for the years ended December 31 (in thousands): 2021 2020 2019 Domestic $ 2,208,168 $ 1,030,609 $ 981,188 International 1,114,680 716,479 795,175 Earnings before income taxes $ 3,322,848 $ 1,747,088 $ 1,776,363
Components of Provision for Income Tax	The following table summarizes the components of the provision for income taxes for the years ended December 31 (in thousands): 2021 2020 2019 Current income tax expense: U.S. federal $ 58,906 $ 48,440 $ 3,232 International 103,488 65,720 41,855 State and local 10,542 15,554 17,209 Total current income tax expense 172,936 129,714 62,296 Deferred income tax expense (benefit): U.S. federal 2,895 (2,464 ) (208 ) International (1,573 ) 3,208 12,429 Total deferred income tax expense 1,322 744 12,221 Total income tax expense $ 174,258 $ 130,458 $ 74,517
Deferred Income Tax Assets and Liabilities	The following table summarizes the deferred income tax assets and liabilities at December 31 (in thousands): 2021 2020 Gross deferred income tax assets: NOL carryforwards $ 272,713 $ 297,900 Basis difference – real estate properties 99,984 59,259 Basis difference – equity investments 8,462 - Section 163(j) interest limitation 1,599 1,486 Capital loss carryforward 14,238 16,845 Other – temporary differences 10,027 4,122 Total gross deferred income tax assets 407,023 379,612 Valuation allowance (337,587 ) (326,706 ) Gross deferred income tax assets, net of valuation allowance 69,436 52,906 Gross deferred income tax liabilities: Basis difference – real estate properties 104,292 79,230 Basis difference – equity investments 30,276 31,995 Other – temporary differences 949 999 Total gross deferred income tax liabilities 135,517 112,224 Net deferred income tax liabilities $ 66,081 $ 59,318
Summary of Operating Loss Carryforwards	At December 31, 2021, we had NOL carryforwards as follows (in thousands): U.S. Europe Mexico Japan Other Gross NOL carryforward $ 80,467 $ 656,532 $ 195,591 $ 89,531 $ 38,815 Tax-effected NOL carryforward 20,298 167,334 61,483 14,315 9,283 Valuation allowance 17,168 161,178 61,483 13,842 9,283 Net deferred tax asset – NOL carryforward $ 3,130 $ 6,156 $ - $ 473 $ - Expiration periods 2022 – 2041 2022 – indefinite 2022 – 2032 2022 – 2031 2022 – indefinite

Earnings Per Common Share or _2

Earnings Per Common Share or Unit (Tables)	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share Unit	The computation of our basic and diluted earnings per share and unit for the years ended December 31 was as follows (in thousands, except per share and unit amounts): Prologis, Inc. 2021 2020 2019 Net earnings attributable to common stockholders – Basic $ 2,933,571 $ 1,473,122 $ 1,566,950 Net earnings attributable to exchangeable limited partnership units (1) 82,092 41,938 46,986 Adjusted net earnings attributable to common stockholders – Diluted $ 3,015,663 $ 1,515,060 $ 1,613,936 Weighted average common shares outstanding – Basic 739,363 728,323 630,580 Incremental weighted average effect on exchange of limited partnership units (1) 20,913 20,877 19,154 Incremental weighted average effect of equity awards 4,486 5,214 5,169 Weighted average common shares outstanding – Diluted (2) 764,762 754,414 654,903 Net earnings per share attributable to common stockholders: Basic $ 3.97 $ 2.02 $ 2.48 Diluted $ 3.94 $ 2.01 $ 2.46 Prologis, L.P. 2021 2020 2019 Net earnings attributable to common unitholders $ 3,015,363 $ 1,514,743 $ 1,613,615 Net earnings attributable to Class A Units (31,758 ) (16,262 ) (20,454 ) Net earnings attributable to common unitholders – Basic 2,983,605 1,498,481 1,593,161 Net earnings attributable to Class A Units 31,758 16,262 20,454 Net earnings attributable to exchangeable other limited partnership units 300 317 321 Adjusted net earnings attributable to common unitholders – Diluted $ 3,015,663 $ 1,515,060 $ 1,613,936 Weighted average common partnership units outstanding – Basic 751,973 740,860 641,128 Incremental weighted average effect on exchange of Class A Units 8,004 8,041 8,231 Incremental weighted average effect on exchange of other limited partnership units 299 299 375 Incremental weighted average effect of equity awards of Prologis, Inc. 4,486 5,214 5,169 Weighted average common units outstanding – Diluted (2) 764,762 754,414 654,903 Net earnings per unit attributable to common unitholders: Basic $ 3.97 $ 2.02 $ 2.48 Diluted $ 3.94 $ 2.01 $ 2.46 (1) Earnings allocated to the exchangeable OP units not held by the Parent have been included in the numerator and exchangeable common units have been included in the denominator for the purpose of computing diluted earnings per share for all periods as the per share and unit amount is the same (2) Our total weighted average potentially dilutive shares and units outstanding for the years ended December 31 consisted of the following: 2021 2020 2019 Class A Units 8,004 8,041 8,231 Other limited partnership units 299 299 375 Equity awards 6,719 7,798 7,933 Prologis, L.P. 15,022 16,138 16,539 Common limited partnership units 12,610 12,537 10,548 Prologis, Inc. 27,632 28,675 27,087

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
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 2021 2020 Asset Liability Asset Liability Undesignated derivatives Foreign currency contracts Forwards Brazilian real $ 664 $ - $ 620 $ 66 British pound sterling 5,361 3,492 174 7,589 Canadian dollar 2,856 1,790 80 5,827 Chinese renminbi - 550 - 717 Euro 40,484 136 73 6,247 Japanese yen 23,341 - 720 1,604 Swedish krona 3,773 201 - 2,355 Designated derivatives Foreign currency contracts Net investment hedges British pound sterling 9,158 2,683 - 2,081 Canadian dollar 5,410 823 - 9,847 Interest rate swaps Cash flow hedges Euro - - - 9 U.S. dollar - - - 140 Total fair value of derivatives $ 91,047 $ 9,675 $ 1,667 $ 36,482
Summary of Undesignated Financial Instruments Exercised and Realized and Unrealized Gains (Losses) in Foreign Currency and Derivative Gains (Losses) Net	The following table summarizes the undesignated derivative financial instruments exercised and associated realized and unrealized gains (losses) in Foreign Currency and Derivative Gains (Losses), Net 2021 2020 2019 Exercised contracts 161 173 115 Realized gains (losses) on the matured, expired or settled contracts $ (8 ) $ (6 ) $ 28 Unrealized gains (losses) on the change in fair value of outstanding contracts $ 88 $ (13 ) $ (10 )
Summary of Activity in Interest Rate Swaps	The following table summarizes the activity of our interest rate swaps designated as cash flow hedges for the years ended December 31 2021 2020 2019 EUR USD (1) Total EUR USD Total EUR Total Notional amounts at January 1 ($) 165 250 415 - - - 500 500 New contracts ($) - - - 165 1,500 1,665 - - Matured, expired or settled contracts ($) - (250 ) (250 ) - (1,250 ) (1,250 ) (500 ) (500 ) Notional amounts at December 31 ($) 165 - 165 165 250 415 - - (1) In April 2021, the 2017 Term Loan was terminated and the interest rate swap contracts associated with the outstanding balance were settled.
Summary of Debt and Accrued Interest, Designated as Nonderivative Financial Instrument	The following table summarizes our debt and accrued interest, designated as a hedge of our net investment in international subsidiaries at December 31 (in millions): 2021 2020 2019 British pound sterling $ 624 $ 842 $ 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 unrealized gains (losses) in Foreign Currency and Derivative Gains (Losses), Net 2021 2020 2019 Unrealized gains (losses) on the unhedged portion $ 81 $ (139 ) $ (64 )
Summary of Changes in Other Comprehensive Income (Loss)	The following table presents these changes in Other Comprehensive Income (Loss) 2021 2020 2019 Derivative net investment hedges $ 9,792 $ (4,301 ) $ (22,600 ) Debt designated as nonderivative net investment hedges (832 ) (62,263 ) 141,675 Cumulative translation adjustment 296,969 (128,109 ) (20,593 ) Total foreign currency translation gains (losses), net $ 305,929 $ (194,673 ) $ 98,482 Cash flow hedges (1)(2) $ 9,098 $ (11,269 ) $ 4,665 Our share of derivatives from unconsolidated co-investment ventures 8,444 (2,848 ) (6,000 ) Total unrealized gains (losses) on derivative contracts, net $ 17,542 $ (14,117 ) $ (1,335 ) Total change in other comprehensive income (loss) $ 323,471 $ (208,790 ) $ 97,147 (1) We estimate an additional expense of $2.2 million will be reclassified to Interest Expense over the next 12 months from December 31, 2021, due to the amortization of previously settled derivatives designated as cash flow hedges. (2) Included in the year ended December 31, 2020, was $16.8 million in losses associated with the termination of four U.S. dollar treasury lock contracts with an aggregate notional amount of $750.0 million that fixed the interest rate on the forecasted issuance of U.S. dollar senior notes, which were then issued in February 2020.
Carrying Amounts and Estimated Fair Values of Debt	The following table reflects the carrying amounts and estimated fair values of our debt at December 31 (in thousands): 2021 2020 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 491,393 $ 491,429 $ 171,794 $ 171,794 Senior notes 14,981,690 15,151,781 14,275,870 15,452,381 Term loans and unsecured other 1,825,195 1,835,569 1,764,311 1,785,706 Secured mortgage 416,776 437,215 637,101 673,549 Total $ 17,715,054 $ 17,915,994 $ 16,849,076 $ 18,083,430
Undesignated Derivatives [Member]
Foreign Currency Contracts Activity	The following table summarizes the activity of our undesignated foreign currency contracts for the years ended December 31 (in millions, except for weighted average forward rates and number of active contracts): 2021 2020 2019 CAD EUR GBP JPY SEK Other Total CAD EUR GBP JPY SEK Other Total CAD EUR GBP JPY SEK Other Total Notional amounts at January 1 ($) 163 474 207 252 38 28 1,162 120 581 178 182 31 15 1,107 55 314 118 177 - 5 669 New contracts ($) 225 437 308 76 64 27 1,137 88 1,314 364 154 37 48 2,005 201 619 1,111 85 31 524 2,571 Matured, expired or settled contracts ($) (213) (162) (132) (78) (17) (35) (637) (45) (1,421) (335) (84) (30) (35) (1,950) (136) (352) (1,051) (80) - (514) (2,133) Notional amounts at December 31 ($) 175 749 383 250 85 20 1,662 163 474 207 252 38 28 1,162 120 581 178 182 31 15 1,107 Weighted average forward rate at December 31 1.26 1.22 1.20 103.14 9.28 1.32 1.23 1.32 102.66 8.64 1.32 1.13 1.32 103.39 9.42 Active contracts at December 31 72 86 70 74 72 58 64 53 59 42 40 53 50 44 20
Designated As Hedging Instrument [Member]
Foreign Currency Contracts Activity	The following table summarizes the activity of our foreign currency contracts designated as net investment hedges for the years ended December 31 2021 2020 2019 CAD GBP Total CAD GBP Total BRL CAD EUR GBP Total Notional amounts at January 1 ($) 377 135 512 97 387 484 460 100 - 127 687 New contracts ($) 535 432 967 377 459 836 489 97 420 649 1,655 Matured, expired or settled contracts ($) (377 ) (135 ) (512 ) (97 ) (711 ) (808 ) (949 ) (100 ) (420 ) (389 ) (1,858 ) Notional amounts at December 31 ($) 535 432 967 377 135 512 - 97 - 387 484 Weighted average forward rate at December 31 1.25 1.37 1.31 1.35 - 1.32 - 1.29 Active contracts at December 31 6 4 6 1 - 2 - 5

Business Segments (Tables)

Business Segments (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Reporting, Reconciliation of Revenues, Operating Income and Assets	The following reconciliations are presented in thousands: Years Ended December 31, 2021 2020 2019 Revenues: Real estate operations segment: U.S. $ 3,967,180 $ 3,600,335 $ 2,645,194 Other Americas 98,620 87,830 94,984 Europe 55,533 68,801 44,356 Asia 47,357 44,782 54,201 Total real estate operations segment 4,168,690 3,801,748 2,838,735 Strategic capital segment: U.S. 171,761 354,825 86,271 Other Americas 58,655 37,696 40,347 Europe 249,600 145,016 283,909 Asia 110,734 99,450 81,359 Total strategic capital segment 590,750 636,987 491,886 Total revenues 4,759,440 4,438,735 3,330,621 Segment net operating income: Real estate operations segment: U.S. (1) 2,966,498 2,679,685 1,953,727 Other Americas 72,424 64,473 69,393 Europe 31,163 43,531 27,525 Asia 34,854 31,986 40,675 Total real estate operations segment 3,104,939 2,819,675 2,091,320 Strategic capital segment: U.S. (1) 59,991 237,271 (10,945 ) Other Americas 47,247 24,923 27,369 Europe 203,779 99,504 246,213 Asia 72,562 57,248 44,588 Total strategic capital segment 383,579 418,946 307,225 Total segment net operating income 3,488,518 3,238,621 2,398,545 Reconciling items: General and administrative expenses (293,167 ) (274,845 ) (266,718 ) Depreciation and amortization expenses (1,577,942 ) (1,561,969 ) (1,139,879 ) Gains on dispositions of development properties and land, net 817,017 464,942 467,577 Gains on other dispositions of investments in real estate, net 772,570 252,195 390,241 Operating income 3,206,996 2,118,944 1,849,766 Earnings from unconsolidated entities, net 404,255 297,370 200,178 Interest expense (266,228 ) (314,507 ) (239,953 ) Interest and other income, net 871 1,044 24,213 Foreign currency and derivative gains (losses), net 164,407 (167,473 ) (41,715 ) Losses on early extinguishment of debt, net (187,453 ) (188,290 ) (16,126 ) Earnings before income taxes $ 3,322,848 $ 1,747,088 $ 1,776,363 December 31, 2021 2020 Segment assets: Real estate operations segment: U.S. $ 44,136,140 $ 42,559,023 Other Americas 1,148,371 1,145,699 Europe 1,837,800 1,604,393 Asia 965,854 1,081,876 Total real estate operations segment 48,088,165 46,390,991 Strategic capital segment (2) U.S. 11,984 13,257 Europe 25,280 25,280 Asia 299 354 Total strategic capital segment 37,563 38,891 Total segment assets 48,125,728 46,429,882 Reconciling items: Investments in and advances to unconsolidated entities 8,610,958 7,602,014 Assets held for sale or contribution 669,688 1,070,724 Cash and cash equivalents 556,117 598,086 Other assets 523,729 364,299 Total reconciling items 10,360,492 9,635,123 Total assets $ 58,486,220 $ 56,065,005 (1) This includes compensation and personnel costs for employees who were located in the U.S. but also support other geographies. (2) Represents management contracts and goodwill recorded in connection with business combinations associated with the Strategic Capital segment. Goodwill was $25.3

Selected Quarterly Financial _2

Selected Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2021
Quarterly Financial Information Disclosure [Abstract]
Selected Quarterly Financial Data	The following table details our selected quarterly financial data (in thousands, except per share and unit data): Three Months Ended Prologis, Inc. March 31, June 30, September 30, December 31, 2021: Rental revenues $ 1,021,656 $ 1,014,763 $ 1,037,281 $ 1,074,294 Total revenues $ 1,148,316 $ 1,150,842 $ 1,183,049 $ 1,277,233 Rental expenses $ (277,884 ) $ (245,133 ) $ (256,607 ) $ (261,692 ) Gains on dispositions of development properties and land, net $ 173,643 $ 187,361 $ 139,406 $ 316,607 Gains on other dispositions of investments in real estate, net $ 16,623 $ 127,167 $ 214,390 $ 414,390 Operating income $ 532,197 $ 700,866 $ 765,660 $ 1,208,273 Consolidated net earnings $ 399,693 $ 650,313 $ 797,731 $ 1,300,853 Net earnings attributable to common stockholders $ 365,815 $ 598,625 $ 722,007 $ 1,247,124 Net earnings per share attributable to common stockholders – Basic (1) $ 0.50 $ 0.81 $ 0.98 $ 1.68 Net earnings per share attributable to common stockholders – Diluted (1)(2) $ 0.49 $ 0.81 $ 0.97 $ 1.67 2020: Rental revenues $ 878,807 $ 944,366 $ 980,148 $ 987,810 Total revenues $ 978,241 $ 1,266,124 $ 1,082,773 $ 1,111,597 Rental expenses $ (227,618 ) $ (232,109 ) $ (245,490 ) $ (246,846 ) Gains on dispositions of development properties and land, net $ 162,750 $ 86,416 $ 134,207 $ 81,569 Gains on other dispositions of investments in real estate, net $ 31,491 $ 43,939 $ 108,927 $ 67,838 Operating income $ 468,057 $ 611,987 $ 556,520 $ 482,380 Consolidated net earnings $ 521,164 $ 454,938 $ 332,521 $ 308,007 Net earnings attributable to common stockholders $ 489,418 $ 404,539 $ 298,695 $ 280,470 Net earnings per share attributable to common stockholders – Basic (1) $ 0.70 $ 0.55 $ 0.40 $ 0.38 Net earnings per share attributable to common stockholders – Diluted (1)(2) $ 0.70 $ 0.54 $ 0.40 $ 0.38 Prologis, L.P. 2021: Rental revenues $ 1,021,656 $ 1,014,763 $ 1,037,281 $ 1,074,294 Total revenues $ 1,148,316 $ 1,150,842 $ 1,183,049 $ 1,277,233 Rental expenses $ (277,884 ) $ (245,133 ) $ (256,607 ) $ (261,692 ) Gains on dispositions of development properties and land, net $ 173,643 $ 187,361 $ 139,406 $ 316,607 Gains on other dispositions of investments in real estate, net $ 16,623 $ 127,167 $ 214,390 $ 414,390 Operating income $ 532,197 $ 700,866 $ 765,660 $ 1,208,273 Consolidated net earnings $ 399,693 $ 650,313 $ 797,731 $ 1,300,853 Net earnings attributable to common unitholders $ 376,083 $ 615,478 $ 741,794 $ 1,282,008 Net earnings per unit attributable to common unitholders – Basic (1) $ 0.50 $ 0.81 $ 0.98 $ 1.68 Net earnings per unit attributable to common unitholders – Diluted (1) $ 0.49 $ 0.81 $ 0.97 $ 1.67 2020: Rental revenues $ 878,807 $ 944,366 $ 980,148 $ 987,810 Total revenues $ 978,241 $ 1,266,124 $ 1,082,773 $ 1,111,597 Rental expenses $ (227,618 ) $ (232,109 ) $ (245,490 ) $ (246,846 ) Gains on dispositions of development properties and land, net $ 162,750 $ 86,416 $ 134,207 $ 81,569 Gains on other dispositions of investments in real estate, net $ 31,491 $ 43,939 $ 108,927 $ 67,838 Operating income $ 468,057 $ 611,987 $ 556,520 $ 482,380 Consolidated net earnings $ 521,164 $ 454,938 $ 332,521 $ 308,007 Net earnings attributable to common unitholders $ 503,388 $ 416,189 $ 307,069 $ 288,097 Net earnings per unit attributable to common unitholders – Basic (1) $ 0.70 $ 0.55 $ 0.40 $ 0.38 Net earnings per unit attributable to common unitholders – Diluted (1) $ 0.70 $ 0.54 $ 0.40 $ 0.38 (1) Quarterly earnings per common share or unit amounts may not total to the annual amounts due to rounding and the changes in the number of weighted average common shares or units outstanding included in the calculation of basic and diluted shares or units. (2) Income allocated to the exchangeable OP units not held by the Parent has been included in the numerator and exchangeable OP units have been included in the denominator for the purpose of computing diluted earnings per share for all periods since the per share and unit is the same.

Description of the Business - A

Description of the Business - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2021Segment
Description Of Business And Basis Of Presentation [Line Items]
Number of reportable segments	2
Unaffiliated Investors and Certain Current and Former Directors and Officers [Member]
Description Of Business And Basis Of Presentation [Line Items]
Percentage of common limited partnership interest	2.68%
General Partner [Member] | Prologis LP [Member]
Description Of Business And Basis Of Presentation [Line Items]
Percentage of ownership in operating partnership	97.32%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Significant Accounting Policies [Line Items]
Consolidation percentage if not wholly owned but controlled	less than 100% of the equity
Percentage of occupancy for stabilization	90.00%
Stabilization period	1 year
Stabilization period description	Depreciation on development buildings commences when the asset is ready for its intended use, which we define as the earlier of stabilization (90% occupied) or one year after completion of construction.
Period after completion of construction for commencement of depreciation	1 year
Estimated useful lives	40 years
Weighted average lease term period	62 months
Depreciation commencement description	Depreciation on development buildings commences when the asset is ready for its intended use, which we define as the earlier of stabilization (90% occupied) or one year after completion of construction.
Threshold percentage to recognize gain or loss on transactions in consolidated entities	100.00%
Percentage of taxable income distribute	100.00%
Debt	$ 17,715,054	$ 16,849,076
ASU 2020-04 [Member]
Schedule Of Significant Accounting Policies [Line Items]
Debt	$ 955,600
Capital Improvements [Member] | Minimum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives	5 years
Capital Improvements [Member] | Maximum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives	7 years
Standard Tenant Improvements [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives	10 years
Depreciable and Land Improvements [Member] | Minimum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives	15 years
Depreciable and Land Improvements [Member] | Maximum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives	25 years
Operating Properties [Member] | Minimum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives	25 years
Operating Properties [Member] | Maximum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful lives	35 years

Liberty Transaction - Additiona

Liberty Transaction - Additional Information (Detail) - Liberty Transaction [Member] ft² in Millions, $ in Millions	Feb. 04, 2020USD ($)ft²Property
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	0.00675
Number of operating properties acquired | Property	519
Square feet of properties | ft²	99.6
Other Ventures [Member]
Business Acquisition [Line Items]
Transaction costs	$ 115.8

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 price of Prologis' common stock on February 3, 2020 | $ / shares	$ 91.87
Fair value of Prologis shares and units issued | $	$ 10,015

Liberty Transaction - Schedul_2

Liberty Transaction - Schedule of Purchase Price Allocated to Liberty Real Estate Properties and Related Lease Intangibles (Detail) - Liberty Transaction [Member] $ in Millions	Feb. 04, 2020USD ($)
Business Acquisition [Line Items]
Net investments in real estate	$ 12,636
Intangible assets, net of intangible liabilities	491
Cash and other assets	233
Debt	(2,845)
Accounts payable, accrued expenses and other liabilities	(383)
Noncontrolling interests	(1)
Total purchase price, including transaction costs	$ 10,131

Real Estate - Investments in Re

Real Estate - Investments in Real Estate Properties (Detail) ft² in Thousands, $ in Thousands		Dec. 31, 2021USD ($)ft²aBuilding	Dec. 31, 2020USD ($)ft²aBuilding
Real Estate Properties [Line Items]
Total investments in real estate properties		$ 53,005,190	$ 50,384,328
Less accumulated depreciation		7,668,187	6,539,156
Net investments in real estate properties		45,337,003	43,845,172
Improved Land [Member]
Real Estate Properties [Line Items]
Total investments in real estate properties		$ 12,294,246	$ 12,017,676
Building and Improvements [Member]
Real Estate Properties [Line Items]
Square feet of properties | ft²		444,413	441,336
Number of buildings | Building		2,310	2,261
Total investments in real estate properties		$ 32,159,514	$ 31,489,943
Development Portfolio, Including Cost of Land: Pre-stabilized [Member]
Real Estate Properties [Line Items]
Square feet of properties | ft²		6,325	6,076
Number of buildings | Building		16	24
Total investments in real estate properties		$ 710,091	$ 553,266
Properties Under Development [Member]
Real Estate Properties [Line Items]
Square feet of properties | ft²		28,638	22,004
Number of buildings | Building		83	61
Total investments in real estate properties		$ 2,019,249	$ 1,329,345
Land [Member]
Real Estate Properties [Line Items]
Square feet of properties | a		6,227	5,304
Total investments in real estate properties	[1]	$ 2,519,590	$ 1,606,358
Other Real Estate Investments [Member]
Real Estate Properties [Line Items]
Total investments in real estate properties	[2]	$ 3,302,500	$ 3,387,740
[1]	At December 31, 2021 and 2020, our land was comprised of 6,227 and 5,304 acres, respectively.
[2]	Included in other real estate investments were: (i) non-strategic real estate assets acquired that we do not intend to operate long-term; (ii) real estate assets that we intend to redevelop into industrial properties; (iii) land parcels we own and lease to third parties; and (iv) costs associated with potential acquisitions and future development projects, including purchase options on land.

Real Estate - Investments in _2

Real Estate - Investments in Real Estate Properties (Parenthetical) (Detail) - a	Dec. 31, 2021	Dec. 31, 2020
Land [Member]
Real Estate Properties [Line Items]
Square feet of properties	6,227	5,304

Real Estate - Summary of Acquis

Real Estate - Summary of Acquisition (Detail) ft² in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2021USD ($)ft²aProperty	[1]	Dec. 31, 2020USD ($)ft²aProperty	[2]	Dec. 31, 2019USD ($)ft²aProperty
Business Acquisition [Line Items]
Number of operating properties | Property		31		150		22
Square feet | ft²		6,760		21,874		1,405
Acquisition cost of net investments in real estate, excluding land	[3]	$ 1,590,457		$ 2,820,692		$ 633,923
Acquisition cost of land		$ 1,452,686		$ 439,773		$ 440,892
Acquisitions of Properties from Third Parties [Member] | Land [Member]
Business Acquisition [Line Items]
Acres of land | a		2,684		830		1,269
[1]	In 2021, we acquired additional ownership interest in unconsolidated other ventures from our partners and began consolidating the real estate assets.
[2]	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, LLC (“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 we consolidate USLV, the number of operating properties, square feet and acquisition cost for the properties acquired by USLV are included in the consolidated acquisition activity.
[3]	The acquisition cost of net investments in real estate includes other real estate investments of $525.5 million, $206.1 million and $302.9 million during the years ended December 31, 2021, 2020 and 2019, respectively. Other real estate investments are not included in the number of operating properties and square feet

Real Estate - Summary of Acqu_2

Real Estate - Summary of Acquisition (Parenthetical) (Detail) - USD ($) $ in Thousands	Jan. 08, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Real estate acquisitions		$ 2,320,448	$ 1,239,034	$ 1,006,043
Other Real Estate Investment [Member]
Business Acquisition [Line Items]
Acquisition cost of other real estate investments		$ 525,500	$ 206,100	$ 302,900
Prologis Targeted U.S. Logistics Fund, L.P. [Member]
Business Acquisition [Line Items]
Real estate acquisitions	$ 2,000,000
Prologis U.S. Logistics Venture, LLC [Member]
Business Acquisition [Line Items]
Real estate acquisitions	$ 2,000,000

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								12 Months Ended
		Dec. 31, 2021USD ($)	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2021USD ($)ft²Property	Dec. 31, 2020USD ($)ft²Property	Dec. 31, 2019USD ($)ft²Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gains on dispositions of development properties and land, net	[1]									$ 817,017	$ 464,942	$ 467,577
Total gains on other dispositions of investments in real estate, net		$ 414,390	$ 214,390	$ 127,167	$ 16,623	$ 67,838	$ 108,927	$ 43,939	$ 31,491	$ 772,570	$ 252,195	$ 390,241
Discontinuing Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of buildings | Property	[1]									41	41	31
Square feet | ft²	[1]									16,482	14,482	10,027
Net proceeds	[1]									$ 2,629,750	$ 1,693,557	$ 1,533,055
Continuing Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of buildings | Property	[2],[3]									97	61	66
Square feet | ft²	[2],[3]									20,806	10,562	15,816
Net proceeds	[2],[3]									$ 2,536,622	$ 1,264,692	$ 1,492,212
Gains on contributions and dispositions, net	[2],[3]									772,570	252,195	255,219
Continuing Operations [Member] | 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 and dispositions, net	[4]									$ 0	$ 0	$ 135,022
[1]	The gains we recognize in Gains on Dispositions of Development Properties and Land, Net are primarily driven by the contribution of newly developed properties to our unconsolidated co-investment ventures and occasionally sales to a third party.
[2]	In 2021, we sold our ownership interest in an unconsolidated other venture.
[3]	In 2019, we formed Prologis Brazil Logistics Venture (“PBLV”), a Brazilian unconsolidated co-investment venture, with one partner. We contributed an initial portfolio of real estate properties to PBLV consisting of 14 operating properties totaling 6.9 million square feet and 371 acres of land. We received cash proceeds and units for our 20% equity interest
[4]	In 2019, we redeemed a portion of our investment in a European unconsolidated co-investment venture.

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	Dec. 31, 2021Property	Dec. 31, 2020Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of operating properties contributed		2,007	1,870
Ownership percentage in property fund		0.00%
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

Real Estate - Additional Inform

Real Estate - Additional Information (Detail) $ in Thousands		Dec. 31, 2021USD ($)Land	Dec. 31, 2020USD ($)Land
Real Estate Properties [Line Items]
Weighted average lease term remaining		51 months
Number of land and office space leases | Land		120	130
Lease liabilities | $	[1]	$ 448,445	$ 486,972
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]		us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
Operating Lease, Weighted Average Remaining Lease Term		28 years	34 years
Weighted average incremental borrowing rate percentage		32.00%	34.00%
Minimum [Member]
Real Estate Properties [Line Items]
Operating leases lease term		1 year
Maximum [Member]
Real Estate Properties [Line Items]
Operating leases lease term		88 years
[1]	For the amortization of the future minimum rental payments into rental expense and G&A expense on our land and office leases, respectively, refer to Note 4.

Real Estate - Future Minimum Re

Real Estate - Future Minimum Rental Payments under Non-Cancelable Operating Leases (Detail) $ in Thousands	Dec. 31, 2021USD ($)
Real Estate [Abstract]
2022	$ 3,160,098
2023	2,990,115
2024	2,605,766
2025	2,223,715
2026	1,791,256
Thereafter	6,462,209
Total	$ 19,233,159

Real Estate - Operating Propert

Real Estate - Operating Properties and Leases (Detail) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Real Estate [Abstract]
2022		$ 49,740
2023		47,453
2024		46,823
2025		43,293
2026		30,708
Thereafter		580,056
Total undiscounted rental payments		798,073
Less imputed interest		349,628
Total lease liabilities	[1]	$ 448,445	$ 486,972
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]		us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
[1]	For the amortization of the future minimum rental payments into rental expense and G&A expense on our land and office leases, respectively, refer to Note 4.

Unconsolidated Entities - Summa

Unconsolidated Entities - Summary of Investments in and Advances to our Unconsolidated Entities (Detail) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities		$ 8,610,958	$ 7,602,014
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities		7,825,455	6,685,567
Other Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	[1]	$ 785,503	$ 916,447
[1]	In 2021, we acquired additional ownership interest in unconsolidated other ventures from our partners and began consolidating the real estate assets. We also sold our ownership interest in an unconsolidated other venture.

Unconsolidated Entities - Infor

Unconsolidated Entities - Information About Investments in Co-investment Ventures by Property Funds (Detail) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Schedule Of Equity Method Investments [Line Items]
Investment in and Advances to unconsolidated investees		$ 8,610,958	$ 7,602,014
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund		0.00%
Investment in and Advances to unconsolidated investees		$ 7,825,455	$ 6,685,567
Prologis Targeted U.S. Logistics Fund, L.P. [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund		27.00%	25.60%
Investment in and Advances to unconsolidated investees		$ 2,393,232	$ 1,885,467
FIBRA Prologis [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	[1]	47.30%	46.80%
Investment in and Advances to unconsolidated investees	[1]	$ 694,590	$ 691,204
Prologis European Logistics Partners Holding [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	[2],[3]	50.00%	50.00%
Investment in and Advances to unconsolidated investees	[2],[3]	$ 2,097,332	$ 1,687,749
Prologis European Logistics Fund [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	[3]	23.80%	24.30%
Investment in and Advances to unconsolidated investees	[3]	$ 1,605,253	$ 1,401,355
Prologis China Core Logistics Fund, LP [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund		15.30%	15.80%
Investment in and Advances to unconsolidated investees		$ 75,922	$ 81,581
Nippon Prologis REIT Inc [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	[4]	15.10%	15.10%
Investment in and Advances to unconsolidated investees	[4]	$ 684,029	$ 643,663
Prologis China Logistics Venture [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	[2]	15.00%	15.00%
Investment in and Advances to unconsolidated investees	[2]	$ 120,283	$ 111,406
Prologis UK Logistics Venture [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	[2],[3]	15.00%	15.00%
Investment in and Advances to unconsolidated investees	[2],[3]	$ 9,243	$ 63,228
Prologis Brazil Logistics Venture and other joint ventures [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage in property fund	[2]	20.00%	20.00%
Investment in and Advances to unconsolidated investees	[2]	$ 145,571	$ 119,914
[1]	At December 31, 2021, we owned 404.6 million units of FIBRA Prologis that had a closing price of Ps 56.83 ($2.77) per unit on the Mexican Stock Exchange. We have granted FIBRA Prologis a right of first refusal with respect to stabilized properties that we plan to sell in Mexico.
[2]	We have one partner in each of these co-investment ventures.
[3]	In December 2021, UKLV sold its operating properties to our unconsolidated co-investment ventures, PELF and PELP, and its land to us and recognized the related gains upon disposition. At December 31, 2021, there is a $9.2 million outstanding receivable balance anticipated to be paid in the first quarter of 2022
[4]	At December 31, 2021, we owned 0.4 million units of NPR that had a closing price of ¥407,000 ($3,536) per share on the Tokyo Stock Exchange. For any properties we develop and plan to sell in Japan, we have committed to offer those properties to NPR if we determine the properties meet NPR’s investment objectives.

Unconsolidated Entities - Inf_2

Unconsolidated Entities - Information About Investments in Co-investment Ventures by Property Funds (Parenthetical) (Detail) $ / shares in Units, shares in Millions, $ in Millions	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2021$ / shares	Dec. 31, 2021¥ / shares	Dec. 31, 2020USD ($)
FIBRA Prologis [Member]
Schedule Of Equity Method Investments [Line Items]
Units outstanding | shares	404.6
Closing price of common stock | (per share)	$ 2.77	$ 56.83
Prologis UK Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Receivables from unconsolidated co-investment ventures | $	$ 9.2
Nippon Prologis REIT Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Units outstanding | shares	0.4
Closing price of common stock | (per share)	$ 3,536		¥ 407,000
Receivables from unconsolidated co-investment ventures | $	$ 175.2			$ 160.3

Unconsolidated Entities - Sum_2

Unconsolidated Entities - Summary of Strategic Capital Revenues Recognized in Consolidated Statements of Income Related to Co-Investment Ventures (Detail) - Unconsolidated Co-Investment Ventures [Member] - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule Of Equity Method Investments [Line Items]
Recurring fees		$ 395,765	$ 318,423	$ 266,615
Transactional fees		78,552	65,804	57,334
Promote revenue		77,199	239,268	165,635
Total strategic capital revenues from unconsolidated co-investment ventures	[1]	$ 551,516	$ 623,495	$ 489,584
[1]	These amounts exclude strategic capital revenues from other ventures.

Unconsolidated Entities - Sum_3

Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Detail) $ in Thousands, ft² in Millions		3 Months Ended								12 Months Ended
		Dec. 31, 2021USD ($)ft²PropertyVenture	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)ft²PropertyVenture	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2021USD ($)ft²PropertyVenture	Dec. 31, 2020USD ($)ft²PropertyVenture	Dec. 31, 2019USD ($)
Schedule Of Equity Method Investments [Line Items]
Total assets		$ 58,486,220				$ 56,065,005				$ 58,486,220	$ 56,065,005
Total liabilities		20,744,010				19,740,425				20,744,010	19,740,425
Total revenues		1,277,233	$ 1,183,049	$ 1,150,842	$ 1,148,316	1,111,597	$ 1,082,773	$ 1,266,124	$ 978,241	4,759,440	4,438,735	$ 3,330,621
Consolidated net earnings		$ 1,300,853	$ 797,731	$ 650,313	$ 399,693	$ 308,007	$ 332,521	$ 454,938	$ 521,164	3,148,590	1,616,630	1,701,846
Our earnings from unconsolidated co-investment ventures, net										$ 404,255	$ 297,370	200,178
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		8				9				8	9
Number of buildings | Property		2,007				1,870				2,007	1,870
Square feet | ft²		458				420				458	420
Total assets		$ 44,087,000				$ 40,990,000				$ 44,087,000	$ 40,990,000
Third-party debt		12,015,000				11,816,000				12,015,000	11,816,000
Total liabilities		15,137,000				14,616,000				15,137,000	14,616,000
Our investment balance	[1]	$ 7,825,000				$ 6,686,000				$ 7,825,000	6,686,000
Our weighted average ownership		0.00%								0.00%
Total revenues										$ 3,400,000	3,016,000	2,617,000
Consolidated net earnings										1,662,000	905,000	579,000
Our earnings from unconsolidated co-investment ventures, net										$ 366,000	$ 240,000	182,000
Unconsolidated Co-Investment Ventures [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		1				1				1	1
Number of buildings | Property		732				706				732	706
Square feet | ft²		122				117				122	117
Total assets		$ 11,619,000				$ 10,840,000				$ 11,619,000	$ 10,840,000
Third-party debt		3,069,000				3,129,000				3,069,000	3,129,000
Total liabilities		3,717,000				3,722,000				3,717,000	3,722,000
Our investment balance	[1]	$ 2,393,000				$ 1,886,000				2,393,000	1,886,000
Total revenues										1,039,000	946,000	738,000
Consolidated net earnings										312,000	169,000	128,000
Our earnings from unconsolidated co-investment ventures, net										$ 82,000	$ 46,000	38,000
Unconsolidated Co-Investment Ventures [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture	[2]	2				2				2	2
Number of buildings | Property	[2]	254				229				254	229
Square feet | ft²	[2]	56				51				56	51
Total assets	[2]	$ 3,349,000				$ 3,023,000				$ 3,349,000	$ 3,023,000
Third-party debt	[2]	1,052,000				854,000				1,052,000	854,000
Total liabilities	[2]	1,116,000				898,000				1,116,000	898,000
Our investment balance	[1],[2]	$ 840,000				$ 811,000				840,000	811,000
Total revenues	[2]									321,000	278,000	266,000
Consolidated net earnings	[2]									120,000	91,000	91,000
Our earnings from unconsolidated co-investment ventures, net	[2]									$ 43,000	$ 34,000	32,000
Unconsolidated Co-Investment Ventures [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		2				3				2	3
Number of buildings | Property		818				768				818	768
Square feet | ft²		198				185				198	185
Total assets		$ 18,373,000				$ 16,918,000				$ 18,373,000	$ 16,918,000
Third-party debt		3,737,000				4,002,000				3,737,000	4,002,000
Total liabilities		5,619,000				5,607,000				5,619,000	5,607,000
Our investment balance	[1]	$ 3,712,000				$ 3,152,000				3,712,000	3,152,000
Total revenues										1,387,000	1,208,000	1,099,000
Consolidated net earnings										1,070,000	390,000	311,000
Our earnings from unconsolidated co-investment ventures, net										$ 214,000	$ 121,000	102,000
Unconsolidated Co-Investment Ventures [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		3				3				3	3
Number of buildings | Property		203				167				203	167
Square feet | ft²		82				67				82	67
Total assets		$ 10,746,000				$ 10,209,000				$ 10,746,000	$ 10,209,000
Third-party debt		4,157,000				3,831,000				4,157,000	3,831,000
Total liabilities		4,685,000				4,389,000				4,685,000	4,389,000
Our investment balance	[1]	$ 880,000				$ 837,000				880,000	837,000
Total revenues										653,000	584,000	514,000
Consolidated net earnings										160,000	255,000	49,000
Our earnings from unconsolidated co-investment ventures, net										$ 27,000	$ 39,000	$ 10,000
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	26.90%				26.10%				26.90%	26.10%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	27.00%				25.60%				27.00%	25.60%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[2],[3]	40.80%				40.80%				40.80%	40.80%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	30.90%				30.00%				30.90%	30.00%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	15.10%				15.20%				15.10%	15.20%
[1]	Prologis’ investment balance is presented at our adjusted basis. The difference between our ownership interest of a venture’s equity and our investment balance at December 31, 2021 and 2020, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018 ($559.7 million and $589.3 million, respectively); (ii) recording additional costs associated with our investment in the venture ($96.6 million and $101.5 million, respectively); (iii) receivables, principally for fees and promotes ($149.5 million and $165.6 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to NPR, as discussed above.
[2]	PBLV and our other Brazilian joint ventures are combined as one venture for the purpose of this table.
[3]	Represents our weighted average ownership interest in all unconsolidated co-investment ventures based on each entity’s contribution of total assets before depreciation, net of other liabilities.

Unconsolidated Entities - Sum_4

Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Parenthetical) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Equity Method Investments And Joint Ventures [Abstract]
Deferred gain recognized from contribution of property to a venture	$ 559.7	$ 589.3
Additional costs associated with investment in a venture	96.6	101.5
Receivables from unconsolidated co-investment ventures	$ 149.5	$ 165.6

Unconsolidated Entities - Addit

Unconsolidated Entities - Additional Information (Detail) - Prologis, Inc. [Member] $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 312.5
Expiration date for remaining commitments range start	2022
Expiration date for remaining commitments range end	2028

Assets Held for Sale or Contr_3

Assets Held for Sale or Contribution - Summary of Assets Held for Sale or Contribution (Detail) ft² in Thousands, $ in Thousands	Dec. 31, 2021USD ($)ft²Property	Dec. 31, 2020USD ($)ft²Property	[1]
Long Lived Assets Held For Sale [Line Items]
Total assets held for sale or contribution	$ 669,688	$ 1,070,724
Total liabilities associated with assets held for sale or contribution – included in Other Liabilities	$ 10,631	$ 16,214
Disposal Group Held for Sale Not Discontinued Operations [Member]
Long Lived Assets Held For Sale [Line Items]
Number of operating properties | Property	14	66
Square feet | ft²	5,486	12,923
[1]	At December 31, 2020, Assets Held for Sale or Contribution included certain properties acquired through the Liberty Transaction and the IPT Transaction that were subsequently sold during 2021.

Other Assets and Other Liabil_3

Other Assets and Other Liabilities - Schedule of Other Assets and Other Liabilities (Detail) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Other Assets And Other Liabilities Disclosure [Abstract]
Rent leveling		$ 578,960	$ 488,828
Acquired lease intangibles		552,517	726,821
Leasing commissions		520,778	425,995
Lease right-of-use assets		$ 459,364	$ 492,801
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Rental, General and administrative	Rental, General and administrative
Accounts receivable		$ 424,240	$ 189,356
Prepaid assets		153,591	138,726
Value added taxes receivable		133,034	146,270
Fixed assets		118,044	117,700
Derivative assets		91,047	1,667
Other notes receivable		35,970	44,751
Management contracts		12,282	13,610
Deferred income taxes		8,926	5,592
Other		223,701	156,892
Total other assets		3,312,454	2,949,009
Lease liabilities	[1]	448,445	486,972
Tenant security deposits		373,432	342,627
Acquired lease intangibles		198,894	197,807
Unearned rents		164,669	152,536
Income tax liabilities		105,537	86,210
Environmental liabilities		86,920	69,930
Indemnification liability		44,416	45,129
Deferred income		21,699	15,437
Value added taxes payable		17,556	23,959
Total liabilities associated with assets held for sale or contribution – included in Other Liabilities		10,631	16,214	[2]
Derivative liabilities		9,675	36,482
Other		294,315	274,674
Total other liabilities		$ 1,776,189	$ 1,747,977
[1]	For the amortization of the future minimum rental payments into rental expense and G&A expense on our land and office leases, respectively, refer to Note 4.
[2]	At December 31, 2020, Assets Held for Sale or Contribution included certain properties acquired through the Liberty Transaction and the IPT Transaction that were subsequently sold during 2021.

Other Assets and Other Liabil_4

Other Assets and Other Liabilities - Schedule of Amortization Expense and Rental Revenues (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Amortization Expense 2021	$ 241,588
Amortization Expense 2022	192,651
Amortization Expense 2023	151,053
Amortization Expense 2024	117,190
Amortization Expense 2025	87,226
Amortization Expense Thereafter	199,398
Amortization Expense Totals	989,106
2022	(53,070)
2023	24,397
2024	56,904
2025	75,823
2026	72,319
Thereafter	287,882
Total	$ 464,255

Debt - Debt Summary (Detail)

Debt - Debt Summary (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.60%	1.90%
Weighted Average Term	10 years 4 months 24 days	10 years 2 months 12 days
Debt	$ 17,715,054	$ 16,849,076
Credit Facilities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	0.80%	0.80%
Weighted Average Term	1 year 7 months 6 days	2 years
Debt	$ 491,393	$ 171,794
Senior Notes [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.70%	2.00%
Weighted Average Term	11 years 7 months 6 days	11 years 2 months 12 days
Debt	$ 14,981,690	$ 14,275,870
Term Loans and Unsecured Other [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	0.50%	0.90%
Weighted Average Term	4 years 2 months 12 days	5 years 7 months 6 days
Debt	$ 1,825,195	$ 1,764,311
Secured Mortgage [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	5.10%	3.10%
Weighted Average Term	4 years 8 months 12 days	3 years
Debt	$ 416,776	$ 637,101

Debt - Debt Summary (Parentheti

Debt - Debt Summary (Parenthetical) (Detail) $ in Thousands	Dec. 31, 2021USD ($)Property	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.60%	1.90%
Debt	$ 17,715,054	$ 16,849,076
Percentage of outstanding debt	100.00%
Number of operating properties securing mortgage debt of consolidated entities | Property	90
Number of land parcel securing mortgage debt of consolidated entities | Property	1
Mortgage notes, aggregate cost of secured properties	$ 1,400,000
Senior Notes [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.70%	2.00%
Debt	$ 14,981,690	$ 14,275,870
Secured Mortgage [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	5.10%	3.10%
Debt	$ 416,776	$ 637,101
Minimum [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Effective Interest Rate	0.20%
Minimum [Member] | Secured Mortgage [Member]
Debt Instrument [Line Items]
Effective Interest Rate	3.30%
Maximum [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Effective Interest Rate	4.50%
Maximum [Member] | Secured Mortgage [Member]
Debt Instrument [Line Items]
Effective Interest Rate	7.80%
GBP
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.10%	2.20%
Debt	$ 1,376,807	$ 1,019,480
Percentage of outstanding debt	7.80%	6.10%
CAD
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.70%	2.70%
Debt	$ 283,773	$ 285,708
Percentage of outstanding debt	1.60%	1.70%
EUR
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.00%	1.40%
Debt	$ 7,408,407	$ 6,549,676
Percentage of outstanding debt	41.80%	38.80%
JPY
Debt Instrument [Line Items]
Weighted Average Interest Rate	0.90%	0.80%
Debt	$ 2,878,542	$ 2,877,247
Percentage of outstanding debt	16.20%	17.10%
USD
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.60%	2.80%
Debt	$ 5,767,525	$ 6,116,965
Percentage of outstanding debt	32.60%	36.30%

Debt - Additional Information (

Debt - Additional Information (Detail) $ in Thousands, € in Millions, ¥ in Billions	1 Months Ended			12 Months Ended
	Oct. 31, 2018	Aug. 31, 2018	Jul. 31, 2018	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2021JPY (¥)	Dec. 31, 2021EUR (€)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 4,940,000	$ 4,119,000	$ 3,946,000
Losses on early extinguishment of debt, net				187,453	188,290	16,126
Prologis Euro Finance L L C [Member]
Debt Instrument [Line Items]
Percentage of ownership in operating partnership			100.00%
Prologis Yen Finance LLC [Member]
Debt Instrument [Line Items]
Percentage of ownership in operating partnership		100.00%
Prologis Sterling Finance LLC [Member]
Debt Instrument [Line Items]
Percentage of ownership in operating partnership	100.00%
Senior Notes with Stated Maturities of 2024 and 2025 [Member]
Debt Instrument [Line Items]
Redemption of senior notes				1,500,000	0	0
Senior Notes with Stated Maturities Between 2021 and 2024 [Member]
Debt Instrument [Line Items]
Redemption of senior notes				0	$ 2,600,000	$ 0
December 2021 Euro Term Loan [Member] | EUR
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 453,000				€ 400
Debt Instrument maturity date				2022-06
Debt instrument, payment terms				In December 2021, we entered into a loan for €400.0 million ($453.0 million at December 31, 2021) with an interest rate of -0.5% and a maturity of June 2022.
Interest rate				0.50%
Global Credit Facility 2019 [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 3,500,000
Debt Instrument maturity date				2023-01
Ability to increase borrowing capacity subject to currency fluctuations and obtaining additional lender commitments				$ 4,500,000
Global Credit Facility 2021 [Member]
Debt Instrument [Line Items]
Debt Instrument maturity date				2024-04
Credit facility maximum borrowing capacity				$ 1,000,000
Ability to increase borrowing capacity subject to currency fluctuations and obtaining additional lender commitments				2,000,000
Yen Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 651,500			¥ 75
Debt Instrument maturity date				2024-07
Credit facility maximum borrowing capacity				$ 477,800			¥ 55

Debt - Schedule of Current Avai

Debt - Schedule of Current Availability on Debt and Cash (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Weighted average daily interest rate	1.30%	1.10%	1.50%
Weighted average daily borrowings	$ 60,000	$ 109,000	$ 85,000
Maximum borrowings outstanding at any month-end	491,000	727,000	257,000
Credit facility maximum borrowing capacity	4,940,000	4,119,000	3,946,000
Borrowings outstanding	491,000	172,000	184,000
Outstanding letters of credit	7,000	24,000	36,000
Current availability	4,442,000	3,923,000	3,726,000
Available term loans	0	250,000	500,000
Cash and cash equivalents	556,117	598,086	1,088,855	$ 343,856
Total liquidity	$ 4,998,000	$ 4,771,000	$ 5,315,000

Debt - Summary of Issuances and

Debt - Summary of Issuances and Redemptions of Senior Notes (Detail) € in Thousands, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2021JPY (¥)	Dec. 31, 2021EUR (€)
Issuance of Senior Notes
Debt Instrument [Line Items]
Term	13 years 10 months 24 days
Aggregate Principal	$ 2,911,201
Interest Rate	1.00%	1.00%	1.00%
Issuance of Senior Notes | February 2032 Senior Notes [Member] | EUR
Debt Instrument [Line Items]
Debt Instrument maturity month	2032-02
Issuance of Senior Notes | February 2032 Senior Notes [Member] | EUR | Weighted Average [Member]
Debt Instrument [Line Items]
Term	14 years 3 months 19 days
Aggregate Principal	$ 1,639,305		€ 1,350,000
Interest Rate	0.70%	0.70%	0.70%
Issuance of Senior Notes | February 2041 Senior Notes [Member] | EUR
Debt Instrument [Line Items]
Debt Instrument maturity month	2041-02
Issuance of Senior Notes | March 2031 Senior Notes [Member] | USD
Debt Instrument [Line Items]
Debt Instrument maturity month	2031-03
Issuance of Senior Notes | March 2031 Senior Notes [Member] | USD | Weighted Average [Member]
Debt Instrument [Line Items]
Term	10 years 1 month 6 days
Aggregate Principal	$ 400,000
Interest Rate	1.60%	1.60%	1.60%
Issuance of Senior Notes | June 2028 Senior Notes [Member] | JPY
Debt Instrument [Line Items]
Debt Instrument maturity month	2028-06
Issuance of Senior Notes | June 2028 Senior Notes [Member] | JPY | Weighted Average [Member]
Debt Instrument [Line Items]
Term	15 years 4 months 24 days
Aggregate Principal	$ 587,441	¥ 65,000,000
Interest Rate	0.80%	0.80%	0.80%
Issuance of Senior Notes | June 2061 Senior Notes [Member] | JPY
Debt Instrument [Line Items]
Debt Instrument maturity month	2061-06
Issuance of Senior Notes | December 2033 Senior Notes [Member] | EUR
Debt Instrument [Line Items]
Debt Instrument maturity month	2033-12
Issuance of Senior Notes | December 2033 Senior Notes [Member] | EUR | Weighted Average [Member]
Debt Instrument [Line Items]
Term	17 years 8 months 12 days
Aggregate Principal	$ 284,455		€ 215,000
Interest Rate	2.00%	2.00%	2.00%
Issuance of Senior Notes | December 2041 Senior Notes [Member] | EUR
Debt Instrument [Line Items]
Debt Instrument maturity month	2041-12
Redemption of Senior Notes
Debt Instrument [Line Items]
Term	3 years 9 months 18 days
Aggregate Principal	$ 1,465,700
Interest Rate	3.60%	3.60%	3.60%
Redemption of Senior Notes | February 2024 Senior Notes [Member] | EUR
Debt Instrument [Line Items]
Debt Instrument maturity month	2024-02
Redemption of Senior Notes | February 2024 Senior Notes [Member] | EUR | Weighted Average [Member]
Debt Instrument [Line Items]
Term	3 years
Aggregate Principal	$ 715,700		€ 599,514
Interest Rate	3.40%	3.40%	3.40%
Redemption of Senior Notes | November 2025 Senior Notes [Member] | USD
Debt Instrument [Line Items]
Debt Instrument maturity month	2025-11
Redemption of Senior Notes | November 2025 Senior Notes [Member] | USD | Weighted Average [Member]
Debt Instrument [Line Items]
Term	4 years 8 months 12 days
Aggregate Principal	$ 750,000
Interest Rate	3.80%	3.80%	3.80%

Debt - Summary of Outstanding T

Debt - Summary of Outstanding Term Loans (Detail)		12 Months Ended
		Dec. 31, 2021USD ($)	Dec. 31, 2021JPY (¥)	Dec. 31, 2021CAD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity		$ 4,940,000,000			$ 4,119,000,000	$ 3,946,000,000
Subtotal		17,784,940,000
Debt issuance costs, net		(82,978,000)
Total term loans		491,000,000			172,000,000	$ 184,000,000
Term Loan
Debt Instrument [Line Items]
Subtotal		1,367,715,000			1,761,402,000
Debt issuance costs, net		(5,169,000)			(7,385,000)
Total term loans		$ 1,362,546,000			1,754,017,000
2017 Term Loan [Member]
Debt Instrument [Line Items]
Borrowing Currency	[1]	USD, EUR, JPY and GBP
Issuance Date	[1]	Jun. 30, 2014
Credit facility maximum borrowing capacity	[1]	$ 500,000,000
Subtotal	[1]	$ 0			250,000,000
Interest Rate, Description		LIBOR + 0.9%
Interest rate		0.90%
Debt Instrument maturity date		2021-05
2015 Canadian Term Loan [Member] | CAD
Debt Instrument [Line Items]
Issuance Date		Dec. 31, 2015
Credit facility maximum borrowing capacity		$ 134,173,000		$ 170,506,000
Subtotal		$ 134,173,000			133,837,000
Interest Rate, Description		CDOR + 0.9%
Interest rate		0.90%
Debt Instrument maturity date		2023-02
March 2017 Yen Term Loan [Member] | JPY
Debt Instrument [Line Items]
Issuance Date		Mar. 31, 2017
Credit facility maximum borrowing capacity		$ 104,243,000	¥ 12,000,000,000
Subtotal		$ 104,243,000			116,414,000
October 2017 Yen Term Loan [Member] | JPY
Debt Instrument [Line Items]
Issuance Date		Oct. 31, 2017
Credit facility maximum borrowing capacity		$ 86,869,000	¥ 10,000,000,000
Subtotal		$ 86,869,000			97,012,000
Interest rate, fixed		0.90%	0.90%	0.90%
Debt Instrument maturity date		2032-10
December 2018 Yen Term [Member] | JPY
Debt Instrument [Line Items]
Issuance Date		Dec. 31, 2018
Credit facility maximum borrowing capacity		$ 173,738,000	¥ 20,000,000,000
Subtotal		$ 173,738,000			194,023,000
Interest Rate, Description		1.2% and Yen LIBOR + 0.7%
January 2019 Yen Term [Member] | JPY
Debt Instrument [Line Items]
Issuance Date		Jan. 31, 2019
Credit facility maximum borrowing capacity		$ 130,304,000	15,000,000,000
Subtotal		$ 130,304,000			145,517,000
Interest Rate, Description		Yen LIBOR + 0.5% to 0.6%
March 2019 Yen Term Loan [Member] | JPY
Debt Instrument [Line Items]
Issuance Date		Mar. 31, 2019
Credit facility maximum borrowing capacity		$ 738,388,000	¥ 85,000,000,000
Subtotal		$ 738,388,000			$ 824,599,000
Interest Rate, Description		Yen LIBOR + 0.4%
Interest rate		0.40%
Debt Instrument maturity date		2026-03
March 2017 Yen Term Loan Tranche One [Member] | JPY
Debt Instrument [Line Items]
Interest rate, fixed		0.90%	0.90%	0.90%
Debt Instrument maturity date		2027-03
March 2017 Yen Term Loan Tranche Two [Member] | JPY
Debt Instrument [Line Items]
Interest rate, fixed		1.00%	1.00%	1.00%
Debt Instrument maturity date		2028-03
December 2018 Yen Term Loan Tranche One [Member] | JPY
Debt Instrument [Line Items]
Interest rate, fixed		1.20%	1.20%	1.20%
Debt Instrument maturity date		2031-12
December 2018 Yen Term Loan Tranche Two [Member] | JPY
Debt Instrument [Line Items]
Interest rate		0.70%
Debt Instrument maturity date		2033-06
January 2019 Yen Term Loan Tranche One [Member] | JPY
Debt Instrument [Line Items]
Interest rate		0.50%
Debt Instrument maturity date		2028-01
January 2019 Yen Term Loan Tranche Two [Member] | JPY
Debt Instrument [Line Items]
Interest rate		0.60%
Debt Instrument maturity date		2030-01
[1]	In April 2021, the multi-currency term loan (“2017 Term Loan”) was terminated, the outstanding balance paid down and the interest rate swap contracts associated with the outstanding balance of $250.3 million were settled .

Debt - Summary of Outstanding_2

Debt - Summary of Outstanding Term Loans (Parenthetical) (Detail) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Apr. 30, 2021	Dec. 31, 2021
Debt Instrument [Line Items]
Repayment of debt		$ 750
2017 Term Loan [Member]
Debt Instrument [Line Items]
Repayment of debt	$ 250.3

Debt - Long-Term Debt Maturitie

Debt - Long-Term Debt Maturities (Detail) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
2022	[1]	$ 985,741
2023	[2]	435,990
2024	[3]	361,085
2025		188,219
2026		1,708,033
Thereafter		14,105,872
Subtotal		17,784,940
Premiums (discounts), net		13,092
Debt issuance costs, net		(82,978)
Total		17,715,054	$ 16,849,076
Credit Facilities [Member]
Debt Instrument [Line Items]
2022	[1]	0
2023	[2]	265,818
2024	[3]	225,575
2025		0
2026		0
Thereafter		0
Subtotal		491,393
Premiums (discounts), net		0
Debt issuance costs, net		0
Total		491,393	171,794
Senior Notes [Member]
Debt Instrument [Line Items]
2022	[1]	509,670
2023	[2]	0
2024	[3]	0
2025		43,435
2026		966,179
Thereafter		13,536,089
Subtotal		15,055,373
Premiums (discounts), net		2,548
Debt issuance costs, net		(76,231)
Total		14,981,690	14,275,870
Term Loans and Unsecured Other [Member]
Debt Instrument [Line Items]
2022	[1]	462,649
2023	[2]	134,173
2024	[3]	0
2025		0
2026		738,388
Thereafter		495,154
Subtotal		1,830,364
Premiums (discounts), net		0
Debt issuance costs, net		(5,169)
Total		1,825,195	1,764,311
Secured Mortgage [Member]
Debt Instrument [Line Items]
2022	[1]	13,422
2023	[2]	35,999
2024	[3]	135,510
2025		144,784
2026		3,466
Thereafter		74,629
Subtotal		407,810
Premiums (discounts), net		10,544
Debt issuance costs, net		(1,578)
Total		$ 416,776	$ 637,101
[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 additional borrowings.
[2]	Included in the 2023 maturities is the 2019 Global Facility that can be extended until 2024.
[3]	Included in the 2024 maturities is the 2021 Global Facility that can be extended until 2025.

Debt - Long-Term Debt Maturit_2

Debt - Long-Term Debt Maturities (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt instruments expected maturing period	next twelve months

Debt - Interest Expense (Detail

Debt - Interest Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Gross interest expense	$ 299,115	$ 348,427	$ 271,451
Amortization of debt discounts (premiums), net	(7,478)	(6,741)	3,713
Amortization of debt issuance costs, net	16,134	14,600	13,293
Interest expense before capitalization	307,771	356,286	288,457
Capitalized amounts	(41,543)	(41,779)	(48,504)
Net interest expense	266,228	314,507	239,953
Total cash paid for interest, net of amounts capitalized	$ 278,861	$ 309,390	$ 214,375

Stockholders' Equity of Prolo_3

Stockholders' Equity of Prologis Inc. - Additional Information (Detail) $ / shares in Units, $ in Thousands	Feb. 04, 2020shares	Dec. 31, 2021shares	Dec. 31, 2020USD ($)Agent$ / sharesshares
Shareholders Equity [Line Items]
Aggregate price of shares repurchased and retired | $			$ 34,829
Beneficial interest of outstanding shares		50.00%
Beneficial interest of outstanding shares by single person or persons acting as group		9.80%
Percentage of ownership restrictions		25.00%
Percentage of REIT taxable income computed without regard to the dividends paid deduction and net capital gains		90.00%
Series Q Preferred Stock [Member]
Shareholders Equity [Line Items]
Repurchased shares			100,000
Recognized loss | $			$ 2,300
Preferred stock dividend rate percentage		8.54%	8.54%
At the Market Offering [Member]
Shareholders Equity [Line Items]
Maximum proceeds from sale of stock | $			$ 1,500,000
Number of designated agents | Agent			20
Agents fee percentage			2.00%
Equity issued			0
Parent [Member]
Shareholders Equity [Line Items]
Common stock shares authorized to be issued		2,100,000,000
Common stock, shares authorized		2,000,000,000
Preferred stock, shares authorized		100,000,000
Common Stock [Member]
Shareholders Equity [Line Items]
Issuance of units related to acquisitions, units			106,723,000
Repurchase and retire of common stock 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			1,000,000,000
Common Stock [Member] | Liberty Transaction [Member]
Shareholders Equity [Line Items]
Issuance of units related to acquisitions, units	106,700,000

Stockholders' Equity of Prolo_4

Stockholders' Equity of Prologis, Inc - Summary of Taxability of Common and Preferred Stock Dividends (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	[1]	Dec. 31, 2019
Class of Stock [Line Items]
Ordinary income	$ 2.45	$ 2.12		$ 2.08
Qualified dividend	0	0		0
Capital gains	0.07	0.20		0.04
Total distribution	2.52	2.32		2.12
Series Q Preferred Stock [Member]
Class of Stock [Line Items]
Ordinary income	4.15	3.96		4
Qualified dividend	0.01	0.02		0.01
Capital gains	0.11	0.29		0.26
Total distribution	$ 4.27	$ 4.27		$ 4.27
[1]	Taxability for 2021 is estimated.

Partners' Capital of Prologis_2

Partners' Capital of Prologis, L.P. - Additional Information (Detail) - $ / shares shares in Millions	Feb. 04, 2020	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019	Dec. 31, 2015
Shareholders Equity [Line Items]
Distributions paid		$ 2.52	$ 2.32	[1]	$ 2.12
Common Units [Member]
Shareholders Equity [Line Items]
Issuance of units related to acquisitions, units		1	0.5
Dividends per share entitled, issued in acquisition						$ 0.40
Common Units [Member] | Liberty Transaction [Member]
Shareholders Equity [Line Items]
Issuance of units related to acquisitions, units	2.3
Class A Common [Member]
Shareholders Equity [Line Items]
Dividends per share entitled, issued in acquisition						$ 0.64665
Distributions paid		$ 2.58660	$ 2.58660		$ 2.58660
Class A units convertible into common limited partnership units		8	8
Limited partnership unit, redemption price per share		$ 43.11
[1]	Taxability for 2021 is estimated.

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2021
Prologis, L.P. [Member]
Minority Interest [Line Items]
Description of conversion rate	one share of common stock to one limited partnership unit

Noncontrolling Interests - Nonc

Noncontrolling Interests - Noncontrolling Interest Summary (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Minority Interest [Line Items]
Total Assets		$ 58,486,220	$ 56,065,005
Operating Partnership noncontrolling interest		3,397,538	3,483,526
Operating Partnership noncontrolling interest		4,315,337	4,353,033
Total Liabilities		20,744,010	19,740,425
Noncontrolling Interests [Member]
Minority Interest [Line Items]
Total Assets		8,850,431	8,729,929
Total Liabilities		$ 310,143	$ 219,118
Prologis U S Logistics Venture [Member]
Minority Interest [Line Items]
Parent Company's Ownership Percentage		55.00%	55.00%
Total Assets		$ 7,397,195	$ 7,663,800
Operating Partnership noncontrolling interest		3,264,337	3,385,110
Total Liabilities		$ 147,545	$ 145,131
Other Consolidated Entities [Member]
Minority Interest [Line Items]
Parent Company's Ownership	[1]	various	various
Total Assets	[1]	$ 1,453,236	$ 1,066,129
Operating Partnership noncontrolling interest	[1]	133,201	98,416
Total Liabilities	[1]	162,598	73,987
Prologis, L.P. [Member]
Minority Interest [Line Items]
Total Assets		58,486,220	56,065,005
Operating Partnership noncontrolling interest		3,397,538	3,483,526
Total Liabilities		20,744,010	19,740,425
Prologis, L.P. [Member] | Noncontrolling Interests [Member]
Minority Interest [Line Items]
Limited partners in Prologis, L.P. (2)(3)	[2],[3]	917,799	869,507
Total Assets	[2],[3]	0	0
Total Liabilities	[2],[3]	0	0
Prologis, Inc. [Member]
Minority Interest [Line Items]
Total Assets		8,850,431	8,729,929
Total Liabilities		310,143	219,118
Prologis, Inc. [Member] | Noncontrolling Interests [Member]
Minority Interest [Line Items]
Operating Partnership noncontrolling interest		$ 4,315,337	$ 4,353,033
[1]	Includes our two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. The limited partnership units outstanding at December 31, 2021 and 2020 were exchangeable into cash or, at our option, 0.3 million shares of the Parent’s common stock.
[2]	There were limited partnership units in the OP, excluding the Class A Units, that were exchangeable into cash or, at our option, 8.4 million and 8.2 million shares of the Parent’s common stock, at December 31, 2021 and 2020, respectively. Also included are the vested OP Long-Term Incentive Plan Units (“LTIP Units”) associated with our long-term compensation plans of 4.0 million and 3.9 million at December 31, 2021 and 2020, respectively. See further discussion of LTIP Units in Note 12.
[3]	We had 8.6 million Class A Units at December 31, 2021 and 2020 that were convertible into 8.0 million limited partnership units of the OP at the end of each year. See Note 10 for further discussion of our Class A Units

Noncontrolling Interests - No_2

Noncontrolling Interests - Noncontrolling Interest Summary (Parenthetical) (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Long Term Incentive Plan Units [Member]
Minority Interest [Line Items]
Vested LTIP Units	4,000	3,900
Class A Common [Member]
Minority Interest [Line Items]
Outstanding limited partnership units, exchanged	8,000	8,000
Units outstanding	8,600	8,600
Common Unit [Member]
Minority Interest [Line Items]
Outstanding limited partnership units, exchanged	8,400	8,200
Common Stock [Member]
Minority Interest [Line Items]
Issuance of units related to acquisitions, units		106,723
Other Consolidated Entities [Member]
Minority Interest [Line Items]
Outstanding limited partnership units, exchanged	300	300
Other Consolidated Entities [Member] | Common Stock [Member]
Minority Interest [Line Items]
Outstanding limited partnership units	2,000	2,000
Prologis, L.P. [Member] | Class A Common [Member] | Limited Partners [Member]
Minority Interest [Line Items]
Units outstanding	8,595	8,595	8,613	8,849
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Minority Interest [Line Items]
Units outstanding	12,354	12,142	9,933	10,516
Issuance of units related to acquisitions, units	1,031	461

Long-Term Compensation - Additi

Long-Term Compensation - Additional Information (Detail) - USD ($) shares in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate fair value		$ 30,300,000	$ 28,800,000	$ 21,200,000
Assumed risk free interest rate		0.20%	1.70%	2.60%
Percentage of employees annual compensation within the statutory compensation limit			12.00%	6.00%
Vesting percentage on defined contribution plan		100.00%
Vesting period for acquired plan		1 year
Compensation cost related to employees contribution plans		$ 5,800,000	$ 5,900,000	$ 3,000,000
Defined Contribution Plan Employer Matching Contribution Percent Of Match		0.50%
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate fair value		$ 32,600,000	36,000,000
Remaining compensation cost weighted average period		1 year 4 months 24 days
Grant date fair value of stock awards granted		$ 74,500,000	45,800,000
Compensation cost		63,300,000
Long Term Incentive Plan Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate fair value		82,200,000	69,300,000
Grant date fair value of stock awards granted		$ 86,600,000	$ 105,100,000
LTIP Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Remaining compensation cost weighted average period		1 year 3 months 18 days
Compensation cost		$ 121,200,000
Minimum [Member] | Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		4 years
2012 Long Term Incentive Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of common stocks are reserved for issuance		33.8
Securities issued upon options, warrants and rights		4.6
Common stock available for future issuance		23.2
Prologis Out-Performance Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance Period		3 years
Outperformance hurdle, above MSCI U.S. REIT Index		1.00%
Performance pool as percentage of excess value, if outperformance hurdle is met		3.00%
Forfeited awards after seven years		7 years
Expected volatility rate		32.00%	19.00%	23.00%
Total remaining compensation cost related to the POP		$ 60,800,000
Remaining compensation cost weighted average period		3 years 2 months 12 days
Initial performance period		3 years
Prologis Out-Performance Plan [Member] | 2021 - 2023 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
Prologis Out-Performance Plan [Member] | 2021 - 2023 Performance Period [Member] | Tranche 1 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rights, percentage	20.00%
Prologis Out-Performance Plan [Member] | 2021 - 2023 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%
Prologis Out-Performance Plan [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		3 years
Prologis Out-Performance Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		10 years
Prologis Promote Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total compensation pool		40.00%

Long-Term Compensation - Assump

Long-Term Compensation - Assumptions Used for Each Grant Based on Year Granted (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk free interest rate	0.20%	1.70%	2.60%
Aggregate fair value	$ 30,300	$ 28,800	$ 21,200
Prologis Out-Performance Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility rate	32.00%	19.00%	23.00%
MSCI US REIT [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility rate	29.00%	13.00%	17.00%

Long-Term Compensation - Perfor

Long-Term Compensation - Performance Pool awarded (Detail) - Prologis Out-Performance Plan [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		1 Months Ended
		Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020	Jan. 31, 2019
2019 - 2021 Performance Period [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance pool		$ 100,000
Common stock shares		34
Restricted stock units		134
POP LTIP Units and LTIP Units		426
Average price used to determine number of awards		$ 168.37
2018 - 2020 Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance pool			$ 100,000
Common stock shares			61
Restricted stock units			242
POP LTIP Units and LTIP Units			701
Average price used to determine number of awards			$ 99.67
2017 - 2019 Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance pool	[1]			$ 119,753
Common stock shares	[1]			384
POP LTIP Units and LTIP Units	[1]			804
Average price used to determine number of awards	[1]			$ 100.79
2016 - 2018 Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance pool	[1]				$ 114,950
Common stock shares	[1]				489
POP LTIP Units and LTIP Units	[1]				1,082
Average price used to determine number of awards	[1]				$ 73.20
[1]	These performance period amounts include awards earned subsequent to the initial three-year performance 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 performance period if our performance meets or exceeds the MSCI US REIT Index at the end of each of such three years.

Long-Term Compensation - Perf_2

Long-Term Compensation - Performance Pool awarded (Parenthetical) (Detail) - Prologis Out-Performance Plan [Member] $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance Period	3 years
2017 - 2019 Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cash incentive award maximum	$ 75
Performance Period	3 years

Long-Term Compensation - RSU Aw

Long-Term Compensation - RSU Awards (Detail) - Restricted Stock Units (RSUs) [Member] shares in Thousands	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Unvested Awards, Beginning Balance | shares	986
Granted | shares	826	[1]
Vested and distributed | shares	(414)
Forfeited | shares	(161)
Number of Unvested Awards, Ending Balance | shares	1,237
Weighted Average Grant Date Fair Value | $ / shares	$ 80.32
Weighted Average Grant Date Fair Value, Granted | $ / shares	90.24	[1]
Weighted Average Grant Date Fair Value, Vested and distributed | $ / shares	78.82
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	77.08
Weighted Average Grant Date Fair Value | $ / shares	$ 87.87
[1]	Included in granted were unvested units based on the POP performance criteria being met for the 2018 – 2020 performance period and represented the earned award amounts subject to an additional vesting period. 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.

Long-Term Compensation - LTIP U

Long-Term Compensation - LTIP Units Awards (Detail) - Long Term Incentive Plan Units [Member] shares in Thousands	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Unvested Awards, Beginning Balance | shares	3,052
Granted | shares	1,337	[1]
Forfeited | shares	(51)
Vested LTIP Units | shares	(1,021)
Number of Unvested Awards, Ending Balance | shares	3,317
Weighted Average Grant Date Fair Value | $ / shares	$ 66.50
Weighted Average Grant Date Fair Value, Granted | $ / shares	64.77	[1]
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	55.66
Weighted Average Grant Date Fair Value, Vested LTIP Units | $ / shares	80.55
Weighted Average Grant Date Fair Value | $ / shares	$ 61.65
[1]	Included in granted were unvested units based on the POP performance criteria being met for the 2018 – 2020 performance period and represented the earned award amounts subject to an additional vesting period. 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.

Income Taxes - Components of Ea

Income Taxes - Components of Earnings Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Domestic	$ 2,208,168	$ 1,030,609	$ 981,188
International	1,114,680	716,479	795,175
Earnings before income taxes	$ 3,322,848	$ 1,747,088	$ 1,776,363

Income Taxes - Components of Pr

Income Taxes - Components of Provision for Income Tax (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current income tax expense:
U.S. federal	$ 58,906	$ 48,440	$ 3,232
International	103,488	65,720	41,855
State and local	10,542	15,554	17,209
Total current income tax expense	172,936	129,714	62,296
Deferred income tax expense (benefit):
U.S. federal	2,895	(2,464)	(208)
International	(1,573)	3,208	12,429
Total deferred income tax expense	1,322	744	12,221
Total income tax expense	$ 174,258	$ 130,458	$ 74,517

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Cash paid for income taxes, net of refunds	$ 148.7	$ 100.7	$ 62.1

Income Taxes - Deferred Income

Income Taxes - Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Gross deferred income tax assets:
NOL carryforwards	$ 272,713	$ 297,900
Basis difference – real estate properties	99,984	59,259
Basis difference – equity investments	8,462	0
Section 163(j) interest limitation	1,599	1,486
Capital loss carryforward	14,238	16,845
Other – temporary differences	10,027	4,122
Total gross deferred income tax assets	407,023	379,612
Valuation allowance	(337,587)	(326,706)
Gross deferred income tax assets, net of valuation allowance	69,436	52,906
Gross deferred income tax liabilities:
Basis difference – real estate properties	104,292	79,230
Basis difference – equity investments	30,276	31,995
Other – temporary differences	949	999
Total gross deferred income tax liabilities	135,517	112,224
Net deferred income tax liabilities	$ 66,081	$ 59,318

Income Taxes - Summary of Opera

Income Taxes - Summary of Operating Loss Carryforwards (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating Loss Carryforwards [Line Items]
Tax-effected NOL carryforward	$ 272,713	$ 297,900
U.S. [Member]
Operating Loss Carryforwards [Line Items]
Gross NOL carryforward	80,467
Tax-effected NOL carryforward	20,298
Valuation allowance	17,168
Net deferred tax asset – NOL carryforward	$ 3,130
Expiration periods	2022 – 2041
Europe [Member]
Operating Loss Carryforwards [Line Items]
Gross NOL carryforward	$ 656,532
Tax-effected NOL carryforward	167,334
Valuation allowance	161,178
Net deferred tax asset – NOL carryforward	$ 6,156
Expiration periods	2022 – indefinite
Mexico [Member]
Operating Loss Carryforwards [Line Items]
Gross NOL carryforward	$ 195,591
Tax-effected NOL carryforward	61,483
Valuation allowance	61,483
Net deferred tax asset – NOL carryforward	$ 0
Expiration periods	2022 – 2032
Japan [Member]
Operating Loss Carryforwards [Line Items]
Gross NOL carryforward	$ 89,531
Tax-effected NOL carryforward	14,315
Valuation allowance	13,842
Net deferred tax asset – NOL carryforward	$ 473
Expiration periods	2022 – 2031
Other [Member]
Operating Loss Carryforwards [Line Items]
Gross NOL carryforward	$ 38,815
Tax-effected NOL carryforward	9,283
Valuation allowance	9,283
Net deferred tax asset – NOL carryforward	$ 0
Expiration periods	2022 – indefinite

Earnings Per Common Share or _3

Earnings Per Common Share or Unit - Computation of Basic and Diluted Earnings Per Share Unit (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic		$ 1,247,124	$ 722,007	$ 598,625	$ 365,815	$ 280,470	$ 298,695	$ 404,539	$ 489,418	$ 2,933,571	$ 1,473,122	$ 1,566,950
Net earnings attributable to exchangeable limited partnership units	[1]									82,092	41,938	46,986
Adjusted net earnings attributable to common stockholders – Diluted										$ 3,015,663	$ 1,515,060	$ 1,613,936
Weighted average common shares/units outstanding - Basic										739,363	728,323	630,580
Incremental weighted average effect on exchange of limited partnership units	[1]									20,913	20,877	19,154
Incremental weighted average effect of equity awards										4,486	5,214	5,169
Weighted average common shares/partnership units outstanding - Diluted	[2]									764,762	754,414	654,903
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic		$ 1.68	$ 0.98	$ 0.81	$ 0.50	$ 0.38	$ 0.40	$ 0.55	$ 0.70	$ 3.97	$ 2.02	$ 2.48
Diluted		$ 1.67	$ 0.97	$ 0.81	$ 0.49	$ 0.38	$ 0.40	$ 0.54	$ 0.70	$ 3.94	$ 2.01	$ 2.46
Net earnings attributable to exchangeable other limited partnership units	[1]									$ (82,092)	$ (41,938)	$ (46,986)
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										3,015,363	1,514,743	1,613,615
Net earnings attributable to exchangeable limited partnership units										(300)	(317)	(321)
Adjusted net earnings attributable to common stockholders – Diluted										$ 3,015,663	$ 1,515,060	$ 1,613,936
Weighted average common shares/units outstanding - Basic										751,973	740,860	641,128
Incremental weighted average effect on exchange of Class A convertible units										8,004	8,041	8,231
Incremental weighted average effect on exchange of limited partnership units										299	299	375
Incremental weighted average effect of equity awards										4,486	5,214	5,169
Weighted average common shares/partnership units outstanding - Diluted	[2]									764,762	754,414	654,903
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic										$ 3.97	$ 2.02	$ 2.48
Diluted										$ 3.94	$ 2.01	$ 2.46
Net earnings attributable to exchangeable other limited partnership units										$ 300	$ 317	$ 321
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										(31,758)	(16,262)	(20,454)
Adjusted net earnings attributable to common stockholders – Diluted										31,758	16,262	20,454
Prologis, L.P. [Member] | Common Unit [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic										$ 2,983,605	$ 1,498,481	$ 1,593,161
[1]	Earnings allocated to the exchangeable OP units not held by the Parent have been included in the numerator and exchangeable common units have been included in the denominator for the purpose of computing diluted earnings per share for all periods as the per share and unit amount is the same
[2]	Our total weighted average potentially dilutive shares and units outstanding for the years ended December 31 consisted of the following:

Earnings Per Common Share or _4

Earnings Per Common Share or Unit - Computation of Basic and Diluted Earnings Per Share Unit (Parenthetical) (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potential dilutive shares and units outstanding	27,632	28,675	27,087
Prologis, L.P. [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potentially dilutive Class A Units	8,004	8,041	8,231
Total weighted average potentially dilutive other limited partnership units	299	299	375
Total weighted average potentially dilutive equity awards	6,719	7,798	7,933
Total weighted average potential dilutive shares and units outstanding	15,022	16,138	16,539
Total weighted average potential dilutive common limited partnership units	12,610	12,537	10,548

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements - Schedule of Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivatives Fair Value [Line Items]
Asset	$ 91,047	$ 1,667
Liability	9,675	36,482
Undesignated Derivatives [Member] | Forwards [Member] | BRL
Derivatives Fair Value [Line Items]
Asset	664	620
Liability	0	66
Undesignated Derivatives [Member] | Forwards [Member] | GBP
Derivatives Fair Value [Line Items]
Asset	5,361	174
Liability	3,492	7,589
Undesignated Derivatives [Member] | Forwards [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	2,856	80
Liability	1,790	5,827
Undesignated Derivatives [Member] | Forwards [Member] | CNY
Derivatives Fair Value [Line Items]
Asset	0	0
Liability	550	717
Undesignated Derivatives [Member] | Forwards [Member] | EUR
Derivatives Fair Value [Line Items]
Asset	40,484	73
Liability	136	6,247
Undesignated Derivatives [Member] | Forwards [Member] | JPY
Derivatives Fair Value [Line Items]
Asset	23,341	720
Liability	0	1,604
Undesignated Derivatives [Member] | Forwards [Member] | SEK
Derivatives Fair Value [Line Items]
Asset	3,773	0
Liability	201	2,355
Designated As Hedging Instrument [Member] | Net Investment Hedges [Member] | GBP
Derivatives Fair Value [Line Items]
Asset	9,158	0
Liability	2,683	2,081
Designated As Hedging Instrument [Member] | Net Investment Hedges [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	5,410	0
Liability	823	9,847
Designated As Hedging Instrument [Member] | Cash Flow Hedges [Member] | Interest Rate Swaps [Member] | EUR
Derivatives Fair Value [Line Items]
Asset	0	0
Liability	0	9
Designated As Hedging Instrument [Member] | Cash Flow Hedges [Member] | Interest Rate Swaps [Member] | USD
Derivatives Fair Value [Line Items]
Asset	0	0
Liability	$ 0	$ 140

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Summary of Undesignated Foreign Currency Forwards Activity (Detail) - Forwards [Member] - Undesignated Derivatives [Member]	12 Months Ended
	Dec. 31, 2021USD ($)Derivative	Dec. 31, 2020USD ($)Derivative	Dec. 31, 2019USD ($)Derivative
Derivative [Line Items]
Notional amounts at January 1	$ 1,162,000,000	$ 1,107,000,000	$ 669,000,000
New contracts	1,137,000,000	2,005,000,000	2,571,000,000
Matured, expired or settled contracts	(637,000,000)	(1,950,000,000)	(2,133,000,000)
Notional amounts at December 31	$ 1,662,000,000	$ 1,162,000,000	1,107,000,000
Weighted average forward rate at December 31	0	0
Active contracts at December 31 | Derivative	0	0
CAD
Derivative [Line Items]
Notional amounts at January 1	$ 163,000,000	$ 120,000,000	55,000,000
New contracts	225,000,000	88,000,000	201,000,000
Matured, expired or settled contracts	(213,000,000)	(45,000,000)	(136,000,000)
Notional amounts at December 31	$ 175,000,000	$ 163,000,000	$ 120,000,000
Weighted average forward rate at December 31	1.26	1.32	1.32
Active contracts at December 31 | Derivative	72	58	40
EUR
Derivative [Line Items]
Notional amounts at January 1	$ 474,000,000	$ 581,000,000	$ 314,000,000
New contracts	437,000,000	1,314,000,000	619,000,000
Matured, expired or settled contracts	(162,000,000)	(1,421,000,000)	(352,000,000)
Notional amounts at December 31	$ 749,000,000	$ 474,000,000	$ 581,000,000
Weighted average forward rate at December 31	1.22	1.23	1.13
Active contracts at December 31 | Derivative	86	64	53
GBP
Derivative [Line Items]
Notional amounts at January 1	$ 207,000,000	$ 178,000,000	$ 118,000,000
New contracts	308,000,000	364,000,000	1,111,000,000
Matured, expired or settled contracts	(132,000,000)	(335,000,000)	(1,051,000,000)
Notional amounts at December 31	$ 383,000,000	$ 207,000,000	$ 178,000,000
Weighted average forward rate at December 31	1.20	1.32	1.32
Active contracts at December 31 | Derivative	70	53	50
JPY
Derivative [Line Items]
Notional amounts at January 1	$ 252,000,000	$ 182,000,000	$ 177,000,000
New contracts	76,000,000	154,000,000	85,000,000
Matured, expired or settled contracts	(78,000,000)	(84,000,000)	(80,000,000)
Notional amounts at December 31	$ 250,000,000	$ 252,000,000	$ 182,000,000
Weighted average forward rate at December 31	103.14	102.66	103.39
Active contracts at December 31 | Derivative	74	59	44
SEK
Derivative [Line Items]
Notional amounts at January 1	$ 38,000,000	$ 31,000,000	$ 0
New contracts	64,000,000	37,000,000	31,000,000
Matured, expired or settled contracts	(17,000,000)	(30,000,000)	0
Notional amounts at December 31	$ 85,000,000	$ 38,000,000	$ 31,000,000
Weighted average forward rate at December 31	9.28	8.64	9.42
Active contracts at December 31 | Derivative	72	42	20
Other
Derivative [Line Items]
Notional amounts at January 1	$ 28,000,000	$ 15,000,000	$ 5,000,000
New contracts	27,000,000	48,000,000	524,000,000
Matured, expired or settled contracts	(35,000,000)	(35,000,000)	(514,000,000)
Notional amounts at December 31	$ 20,000,000	$ 28,000,000	$ 15,000,000
Weighted average forward rate at December 31	0	0
Active contracts at December 31 | Derivative	0	0

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements - Summary of Undesignated Financial Instruments Exercised and Realized and Unrealized Gains (Losses) in Foreign Currency and Derivative Gains (Losses) Net (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)Contract	Dec. 31, 2020USD ($)Contract	Dec. 31, 2019USD ($)Contract
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Exercised contracts | Contract	161	173	115
Realized gains (losses) on the matured, expired or settled contracts	$ (8)	$ (6)	$ 28
Unrealized gains (losses) on the change in fair value of outstanding contracts	$ 88	$ (13)	$ (10)

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements - Foreign Currency Contracts Activity (Detail) - Forwards [Member] - Net Investment Hedges [Member] - Designated As Hedging Instrument [Member]	12 Months Ended
	Dec. 31, 2021USD ($)Derivative	Dec. 31, 2020USD ($)Derivative	Dec. 31, 2019USD ($)Derivative
Derivative [Line Items]
Notional amounts at January 1	$ 512,000,000	$ 484,000,000	$ 687,000,000
New contracts	967,000,000	836,000,000	1,655,000,000
Matured, expired or settled contracts	(512,000,000)	(808,000,000)	(1,858,000,000)
Notional amounts at December 31	967,000,000	512,000,000	484,000,000
CAD
Derivative [Line Items]
Notional amounts at January 1	377,000,000	97,000,000	100,000,000
New contracts	535,000,000	377,000,000	97,000,000
Matured, expired or settled contracts	(377,000,000)	(97,000,000)	(100,000,000)
Notional amounts at December 31	$ 535,000,000	$ 377,000,000	$ 97,000,000
Weighted average forward rate at December 31	1.25	1.31	1.32
Active contracts at December 31 | Derivative	6	6	2
BRL
Derivative [Line Items]
Notional amounts at January 1		$ 0	$ 460,000,000
New contracts			489,000,000
Matured, expired or settled contracts			(949,000,000)
Notional amounts at December 31			$ 0
Active contracts at December 31 | Derivative			0
GBP
Derivative [Line Items]
Notional amounts at January 1	$ 135,000,000	387,000,000	$ 127,000,000
New contracts	432,000,000	459,000,000	649,000,000
Matured, expired or settled contracts	(135,000,000)	(711,000,000)	(389,000,000)
Notional amounts at December 31	$ 432,000,000	$ 135,000,000	$ 387,000,000
Weighted average forward rate at December 31	1.37	1.35	1.29
Active contracts at December 31 | Derivative	4	1	5
EUR
Derivative [Line Items]
Notional amounts at January 1		$ 0	$ 0
New contracts			420,000,000
Matured, expired or settled contracts			(420,000,000)
Notional amounts at December 31			$ 0
Active contracts at December 31 | Derivative			0

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements - Summary of Activity in Interest Rate Swaps (Detail) - Interest Rate Swaps [Member] - Cash Flow Hedges [Member] - Designated As Hedging Instrument [Member] - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Notional amounts at January 1	$ 415,000,000	$ 0	$ 500,000,000
New contracts	0	1,665,000,000	0
Matured, expired or settled contracts	(250,000,000)	(1,250,000,000)	(500,000,000)
Notional amounts at December 31	165,000,000	415,000,000	0
EUR
Derivative [Line Items]
Notional amounts at January 1	165,000,000	0	500,000,000
New contracts	0	165,000,000	0
Matured, expired or settled contracts	0	0	(500,000,000)
Notional amounts at December 31	165,000,000	165,000,000	0
USD
Derivative [Line Items]
Notional amounts at January 1	250,000,000	0
New contracts	0	1,500,000,000
Matured, expired or settled contracts	(250,000,000)	(1,250,000,000)
Notional amounts at December 31	$ 0	$ 250,000,000	$ 0

Financial Instruments and Fai_8

Financial Instruments and Fair Value Measurements - Summary of Debt and Accrued Interest, Designated as Hedge (Detail) - Designated As Hedging Instrument [Member] - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
British Pound Sterling Senior Notes [Member]
Derivatives Fair Value [Line Items]
Senior Notes Outstanding	$ 624	$ 842	$ 329
Euro Senior Notes [Member]
Derivatives Fair Value [Line Items]
Senior Notes Outstanding	$ 0	$ 0	$ 850

Financial Instruments and Fai_9

Financial Instruments and Fair Value Measurements - Summary of Recognized Unrealized Gains (Losses) in Foreign Currency and Derivative Gains (Losses) Net on Remeasurement of Unhedged Portion of Debt and Accrued Interest (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivatives Fair Value [Line Items]
Foreign currency translation gains (losses), net	$ 305,929	$ (194,673)	$ 98,482
Forward Contracts [Member]
Derivatives Fair Value [Line Items]
Foreign currency translation gains (losses), net	$ 81,000	$ (139,000)	$ (64,000)

Financial Instruments and Fa_10

Financial Instruments and Fair Value Measurements - Summary of Changes in Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative translation adjustment	$ 296,969	$ (128,109)	$ (20,593)
Total foreign currency translation gains (losses), net	305,929	(194,673)	98,482
Total unrealized gains (losses) on derivative contracts, net	17,542	(14,117)	(1,335)
Total change in other comprehensive income (loss)	323,471	(208,790)	97,147
Designated As Hedging Instrument [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative hedging instruments	9,792	(4,301)	(22,600)
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	(832)	(62,263)	141,675
Designated As Hedging Instrument [Member] | Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative hedging instruments	9,098	(11,269)	4,665
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	$ 8,444	$ (2,848)	$ (6,000)

Financial Instruments and Fa_11

Financial Instruments and Fair Value Measurements - Summary of Changes in Other Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments Gain Loss [Line Items]
Loss on derivatives	$ (17,542)	$ 14,117	$ 1,335
Repayments of Debt	750,000
Treasury Lock | Senior Notes [Member] | USD
Derivative Instruments Gain Loss [Line Items]
Loss on derivatives	16,800
Accumulated Gain (Loss) Net Cash Flow Hedge Parent [Member]
Derivative Instruments Gain Loss [Line Items]
Amount to be reclassified to interest expense, next 12 months	$ 2,200

Financial Instruments and Fa_12

Financial Instruments and Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	$ 17,715,054	$ 16,849,076
Fair Value of Debt	17,915,994	18,083,430
Credit Facilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	491,393	171,794
Fair Value of Debt	491,429	171,794
Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	14,981,690	14,275,870
Fair Value of Debt	15,151,781	15,452,381
Term Loans and Unsecured Other Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	1,825,195	1,764,311
Fair Value of Debt	1,835,569	1,785,706
Secured Mortgages [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	416,776	637,101
Fair Value of Debt	$ 437,215	$ 673,549

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Percentage of agreement indemnification	100.00%
Outstanding performance and surety bonds	$ 394.6	$ 275.2

Business Segments - Additional

Business Segments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2021Segment
Segment Reporting [Abstract]
Number of operating segments	2

Business Segments - Segment Rep

Business Segments - Segment Reporting, Reconciliation of Revenues, Operating Income and Assets (Detail) - USD ($) $ in Thousands	3 Months Ended									12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020		Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 1,277,233	$ 1,183,049	$ 1,150,842	$ 1,148,316	$ 1,111,597		$ 1,082,773	$ 1,266,124	$ 978,241	$ 4,759,440	$ 4,438,735		$ 3,330,621
Operating income	1,208,273	765,660	700,866	532,197	482,380		556,520	611,987	468,057	3,206,996	2,118,944		1,849,766
General and administrative expenses										293,167	274,845		266,718
Depreciation and amortization expenses										1,577,942	1,561,969		1,139,879
Gains on dispositions of development properties and land, net	316,607	139,406	187,361	173,643	81,569		134,207	86,416	162,750	817,017	464,942		467,577
Gains on other dispositions of investments in real estate, net	414,390	$ 214,390	$ 127,167	$ 16,623	67,838		$ 108,927	$ 43,939	$ 31,491	772,570	252,195		390,241
Earnings from unconsolidated entities, net										404,255	297,370		200,178
Interest expense										(266,228)	(314,507)		(239,953)
Interest and other income, net										871	1,044		24,213
Foreign currency and derivative gains (losses), net										164,407	(167,473)		(41,715)
Losses on early extinguishment of debt, net										(187,453)	(188,290)		(16,126)
Earnings before income taxes										3,322,848	1,747,088		1,776,363
Total assets	58,486,220				56,065,005					58,486,220	56,065,005
Investments in and advances to unconsolidated entities	8,610,958				7,602,014					8,610,958	7,602,014
Assets held for sale or contribution	669,688				1,070,724	[1]				669,688	1,070,724	[1]
Cash and cash equivalents	556,117				598,086					556,117	598,086		1,088,855	$ 343,856
Other assets	3,312,454				2,949,009					3,312,454	2,949,009
Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total assets	48,088,165				46,390,991					48,088,165	46,390,991
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income										3,488,518	3,238,621		2,398,545
Total assets	48,125,728				46,429,882					48,125,728	46,429,882
Operating Segments [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues										4,168,690	3,801,748		2,838,735
Operating income										3,104,939	2,819,675		2,091,320
Operating Segments [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues										590,750	636,987		491,886
Operating income										383,579	418,946		307,225
Total assets	37,563				38,891					37,563	38,891
Operating Segments [Member] | U.S. [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues										3,967,180	3,600,335		2,645,194
Operating income										2,966,498	2,679,685		1,953,727
Total assets	44,136,140				42,559,023					44,136,140	42,559,023
Operating Segments [Member] | U.S. [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues										171,761	354,825		86,271
Operating income										59,991	237,271		(10,945)
Total assets	11,984				13,257					11,984	13,257
Operating Segments [Member] | Other Americas [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues										98,620	87,830		94,984
Operating income										72,424	64,473		69,393
Total assets	1,148,371				1,145,699					1,148,371	1,145,699
Operating Segments [Member] | Other Americas [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues										58,655	37,696		40,347
Operating income										47,247	24,923		27,369
Operating Segments [Member] | Europe [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues										55,533	68,801		44,356
Operating income										31,163	43,531		27,525
Total assets	1,837,800				1,604,393					1,837,800	1,604,393
Operating Segments [Member] | Europe [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues										249,600	145,016		283,909
Operating income										203,779	99,504		246,213
Total assets	25,280				25,280					25,280	25,280
Operating Segments [Member] | Asia [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues										47,357	44,782		54,201
Operating income										34,854	31,986		40,675
Total assets	965,854				1,081,876					965,854	1,081,876
Operating Segments [Member] | Asia [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues										110,734	99,450		81,359
Operating income										72,562	57,248		44,588
Total assets	299				354					299	354
Reconciling Items [Member]
Segment Reporting Information [Line Items]
Operating income										3,206,996	2,118,944		1,849,766
General and administrative expenses										(293,167)	(274,845)		(266,718)
Depreciation and amortization expenses										(1,577,942)	(1,561,969)		(1,139,879)
Gains on dispositions of development properties and land, net										817,017	464,942		467,577
Gains on other dispositions of investments in real estate, net										772,570	252,195		390,241
Earnings from unconsolidated entities, net										404,255	297,370		200,178
Interest expense										(266,228)	(314,507)		(239,953)
Interest and other income, net										871	1,044		24,213
Foreign currency and derivative gains (losses), net										164,407	(167,473)		(41,715)
Losses on early extinguishment of debt, net										(187,453)	(188,290)		$ (16,126)
Total assets	10,360,492				9,635,123					10,360,492	9,635,123
Investments in and advances to unconsolidated entities	8,610,958				7,602,014					8,610,958	7,602,014
Assets held for sale or contribution	669,688				1,070,724					669,688	1,070,724
Cash and cash equivalents	556,117				598,086					556,117	598,086
Other assets	$ 523,729				$ 364,299					$ 523,729	$ 364,299
[1]	At December 31, 2020, Assets Held for Sale or Contribution included certain properties acquired through the Liberty Transaction and the IPT Transaction that were subsequently sold during 2021.

Business Segments - Segment R_2

Business Segments - Segment Reporting, Reconciliation of Revenues, Operating Income and Assets (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
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 Thousands, $ in Thousands	Feb. 04, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Jan. 31, 2019
Supplemental Cash Flow Information [Line Items]
Debt			$ 169,800
Lease Right-of-Use assets		$ 71,400	47,800	$ 523,800
Lease liabilities		71,400	47,800	527,300
Capitalization for equity based compensation expense		25,600	22,400	21,400
Debt		17,715,054	16,849,076
Reinvestment in PELF and PELP		$ 153,000
Distribution declared			$ 45,600	$ 80,900
Liberty Transaction [Member]
Supplemental Cash Flow Information [Line Items]
Business acquisition consideration transferred	$ 13,000,000
Business acquisition, assumption of debt	2,800,000
USLV [Member]
Supplemental Cash Flow Information [Line Items]
Business acquisition, assumption of debt	$ 341,800
Common Units [Member]
Supplemental Cash Flow Information [Line Items]
Common limited partnership units, shares		1,000	500
Common limited partnership units, amount paid			$ 48,500
Prologis, L.P. [Member]
Supplemental Cash Flow Information [Line Items]
Common limited partnership units, amount paid			10,013,526
Debt		$ 17,715,054	$ 16,849,076
Limited Partners [Member] | Prologis, L.P. [Member]
Supplemental Cash Flow Information [Line Items]
Common limited partnership units, shares		1,000
Common limited partnership units, amount paid		$ 130,400
Limited Partners [Member] | Prologis, L.P. [Member] | Common [Member]
Supplemental Cash Flow Information [Line Items]
PLD units redeemed for common shares		800	700	1,200
Common limited partnership units, shares			2,288
Common limited partnership units, amount paid			$ 210,190
Unconsolidated Co-Investment Ventures [Member]
Supplemental Cash Flow Information [Line Items]
Ownership percentage in property fund		0.00%
Unconsolidated Entities [Member]
Supplemental Cash Flow Information [Line Items]
Equity ownership interest received		$ 886,100	$ 433,700	$ 646,800
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%
Unconsolidated Other Venture [Member]
Supplemental Cash Flow Information [Line Items]
Debt		$ 215,300

Selected Quarterly Financial _3

Selected Quarterly Financial Data (Unaudited) - Selected Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Selected Quarterly Financial Data [Line Items]
Rental revenues	$ 1,074,294	$ 1,037,281	$ 1,014,763	$ 1,021,656	$ 987,810	$ 980,148	$ 944,366	$ 878,807	$ 4,147,994	$ 3,791,131	$ 2,831,818
Total revenues	1,277,233	1,183,049	1,150,842	1,148,316	1,111,597	1,082,773	1,266,124	978,241	4,759,440	4,438,735	3,330,621
Rental expenses	(261,692)	(256,607)	(245,133)	(277,884)	(246,846)	(245,490)	(232,109)	(227,618)	(1,041,316)	(952,063)	(734,266)
Gains on dispositions of development properties and land, net	316,607	139,406	187,361	173,643	81,569	134,207	86,416	162,750	817,017	464,942	467,577
Gains on other dispositions of investments in real estate, net	414,390	214,390	127,167	16,623	67,838	108,927	43,939	31,491	772,570	252,195	390,241
Operating income	1,208,273	765,660	700,866	532,197	482,380	556,520	611,987	468,057	3,206,996	2,118,944	1,849,766
Consolidated net earnings	1,300,853	797,731	650,313	399,693	308,007	332,521	454,938	521,164	3,148,590	1,616,630	1,701,846
Net earnings attributable to common stockholders/unit holders	$ 1,247,124	$ 722,007	$ 598,625	$ 365,815	$ 280,470	$ 298,695	$ 404,539	$ 489,418	$ 2,933,571	$ 1,473,122	$ 1,566,950
Net earnings per share/unit attributable to common stockholders/unitholders - Basic	$ 1.68	$ 0.98	$ 0.81	$ 0.50	$ 0.38	$ 0.40	$ 0.55	$ 0.70	$ 3.97	$ 2.02	$ 2.48
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted	$ 1.67	$ 0.97	$ 0.81	$ 0.49	$ 0.38	$ 0.40	$ 0.54	$ 0.70	$ 3.94	$ 2.01	$ 2.46
Prologis, L.P. [Member]
Selected Quarterly Financial Data [Line Items]
Rental revenues	$ 1,074,294	$ 1,037,281	$ 1,014,763	$ 1,021,656	$ 987,810	$ 980,148	$ 944,366	$ 878,807
Total revenues	1,277,233	1,183,049	1,150,842	1,148,316	1,111,597	1,082,773	1,266,124	978,241
Rental expenses	(261,692)	(256,607)	(245,133)	(277,884)	(246,846)	(245,490)	(232,109)	(227,618)
Gains on dispositions of development properties and land, net	316,607	139,406	187,361	173,643	81,569	134,207	86,416	162,750
Gains on other dispositions of investments in real estate, net	414,390	214,390	127,167	16,623	67,838	108,927	43,939	31,491
Operating income	1,208,273	765,660	700,866	532,197	482,380	556,520	611,987	468,057
Consolidated net earnings	1,300,853	797,731	650,313	399,693	308,007	332,521	454,938	521,164
Net earnings attributable to common stockholders/unit holders	$ 1,282,008	$ 741,794	$ 615,478	$ 376,083	$ 288,097	$ 307,069	$ 416,189	$ 503,388
Net earnings per share/unit attributable to common stockholders/unitholders - Basic	$ 1.68	$ 0.98	$ 0.81	$ 0.50	$ 0.38	$ 0.40	$ 0.55	$ 0.70
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted	$ 1.67	$ 0.97	$ 0.81	$ 0.49	$ 0.38	$ 0.40	$ 0.54	$ 0.70

Real Estate and Accumulated D_2

Real Estate and Accumulated Depreciation (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)Property	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2,409
Land	$ 12,818,847
Building and Improvements	24,927,521
Costs capitalized subsequent to acquisition	9,436,732
Carrying amount of land	13,485,856
Carrying amount of buildings and improvements	33,697,244
Carrying amount of land and buildings and improvements, Total	47,183,100	$ 45,390,230	$ 33,157,100	$ 32,774,956
Accumulated Depreciation	$ (7,451,382)	$ (6,370,341)	$ (5,294,212)	$ (4,550,958)
Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	99
Land	$ 1,191,610
Building and Improvements	0
Costs capitalized subsequent to acquisition	1,537,730
Carrying amount of land	1,191,610
Carrying amount of buildings and improvements	1,537,730
Carrying amount of land and buildings and improvements, Total	$ 2,729,340
United States: Markets [Member] | U.S. [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	52
Land	$ 643,014
Building and Improvements	0
Costs capitalized subsequent to acquisition	728,167
Carrying amount of land	643,014
Carrying amount of buildings and improvements	728,167
Carrying amount of land and buildings and improvements, Total	$ 1,371,181
United States: Markets [Member] | U.S. [Member] | Atlanta [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	3
Land	$ 31,458
Building and Improvements	0
Costs capitalized subsequent to acquisition	75,873
Carrying amount of land	31,458
Carrying amount of buildings and improvements	75,873
Carrying amount of land and buildings and improvements, Total	$ 107,331
United States: Markets [Member] | U.S. [Member] | Baltimore/Washington D.C [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 3,621
Building and Improvements	0
Costs capitalized subsequent to acquisition	7,135
Carrying amount of land	3,621
Carrying amount of buildings and improvements	7,135
Carrying amount of land and buildings and improvements, Total	10,756
Accumulated Depreciation	$ 0
United States: Markets [Member] | U.S. [Member] | Central Valley [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	3
Land	$ 60,124
Building and Improvements	0
Costs capitalized subsequent to acquisition	139,469
Carrying amount of land	60,124
Carrying amount of buildings and improvements	139,469
Carrying amount of land and buildings and improvements, Total	$ 199,593
Date of Construction/ Acquisition	2021
United States: Markets [Member] | U.S. [Member] | Charlotte [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 6,667
Building and Improvements	0
Costs capitalized subsequent to acquisition	8,079
Carrying amount of land	6,667
Carrying amount of buildings and improvements	8,079
Carrying amount of land and buildings and improvements, Total	$ 14,746
United States: Markets [Member] | U.S. [Member] | Chicago [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	6
Land	$ 101,797
Building and Improvements	0
Costs capitalized subsequent to acquisition	55,358
Carrying amount of land	101,797
Carrying amount of buildings and improvements	55,358
Carrying amount of land and buildings and improvements, Total	$ 157,155
Date of Construction/ Acquisition	2021
United States: Markets [Member] | U.S. [Member] | Dallas Ft. Worth [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	6
Land	$ 27,481
Building and Improvements	0
Costs capitalized subsequent to acquisition	28,128
Carrying amount of land	27,481
Carrying amount of buildings and improvements	28,128
Carrying amount of land and buildings and improvements, Total	$ 55,609
United States: Markets [Member] | U.S. [Member] | Denver [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 9,892
Building and Improvements	0
Costs capitalized subsequent to acquisition	6,133
Carrying amount of land	9,892
Carrying amount of buildings and improvements	6,133
Carrying amount of land and buildings and improvements, Total	$ 16,025
United States: Markets [Member] | U.S. [Member] | Houston [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 14,059
Building and Improvements	0
Costs capitalized subsequent to acquisition	56,429
Carrying amount of land	14,059
Carrying amount of buildings and improvements	56,429
Carrying amount of land and buildings and improvements, Total	$ 70,488
United States: Markets [Member] | U.S. [Member] | Las Vegas [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 12,502
Building and Improvements	0
Costs capitalized subsequent to acquisition	3,896
Carrying amount of land	12,502
Carrying amount of buildings and improvements	3,896
Carrying amount of land and buildings and improvements, Total	$ 16,398
United States: Markets [Member] | U.S. [Member] | Lehigh Valley [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 31,694
Building and Improvements	0
Costs capitalized subsequent to acquisition	38,657
Carrying amount of land	31,694
Carrying amount of buildings and improvements	38,657
Carrying amount of land and buildings and improvements, Total	$ 70,351
United States: Markets [Member] | U.S. [Member] | Louisville [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 6,195
Building and Improvements	0
Costs capitalized subsequent to acquisition	25,092
Carrying amount of land	6,195
Carrying amount of buildings and improvements	25,092
Carrying amount of land and buildings and improvements, Total	$ 31,287
United States: Markets [Member] | U.S. [Member] | Nashville [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	3
Land	$ 6,829
Building and Improvements	0
Costs capitalized subsequent to acquisition	43,440
Carrying amount of land	6,829
Carrying amount of buildings and improvements	43,440
Carrying amount of land and buildings and improvements, Total	$ 50,269
Date of Construction/ Acquisition	2021
United States: Markets [Member] | U.S. [Member] | New Jersey/New York City [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 68,476
Building and Improvements	0
Costs capitalized subsequent to acquisition	25,922
Carrying amount of land	68,476
Carrying amount of buildings and improvements	25,922
Carrying amount of land and buildings and improvements, Total	$ 94,398
United States: Markets [Member] | U.S. [Member] | Orlando [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	3
Land	$ 22,494
Building and Improvements	0
Costs capitalized subsequent to acquisition	26,036
Carrying amount of land	22,494
Carrying amount of buildings and improvements	26,036
Carrying amount of land and buildings and improvements, Total	$ 48,530
Date of Construction/ Acquisition	2021
United States: Markets [Member] | U.S. [Member] | Phoenix [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 2,067
Building and Improvements	0
Costs capitalized subsequent to acquisition	12,283
Carrying amount of land	2,067
Carrying amount of buildings and improvements	12,283
Carrying amount of land and buildings and improvements, Total	$ 14,350
United States: Markets [Member] | U.S. [Member] | Portland [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 9,989
Building and Improvements	0
Costs capitalized subsequent to acquisition	13,121
Carrying amount of land	9,989
Carrying amount of buildings and improvements	13,121
Carrying amount of land and buildings and improvements, Total	$ 23,110
United States: Markets [Member] | U.S. [Member] | Reno [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 4,461
Building and Improvements	0
Costs capitalized subsequent to acquisition	7,779
Carrying amount of land	4,461
Carrying amount of buildings and improvements	7,779
Carrying amount of land and buildings and improvements, Total	$ 12,240
United States: Markets [Member] | U.S. [Member] | San Francisco Bay Area [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 13,566
Building and Improvements	0
Costs capitalized subsequent to acquisition	3,083
Carrying amount of land	13,566
Carrying amount of buildings and improvements	3,083
Carrying amount of land and buildings and improvements, Total	$ 16,649
United States: Markets [Member] | U.S. [Member] | Seattle [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 28,392
Building and Improvements	0
Costs capitalized subsequent to acquisition	18,543
Carrying amount of land	28,392
Carrying amount of buildings and improvements	18,543
Carrying amount of land and buildings and improvements, Total	$ 46,935
Date of Construction/ Acquisition	2021
United States: Markets [Member] | U.S. [Member] | South Florida [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	5
Land	$ 55,768
Building and Improvements	0
Costs capitalized subsequent to acquisition	50,450
Carrying amount of land	55,768
Carrying amount of buildings and improvements	50,450
Carrying amount of land and buildings and improvements, Total	$ 106,218
Date of Construction/ Acquisition	2021
United States: Markets [Member] | U.S. [Member] | Southern California [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	6
Land	$ 124,327
Building and Improvements	0
Costs capitalized subsequent to acquisition	72,831
Carrying amount of land	124,327
Carrying amount of buildings and improvements	72,831
Carrying amount of land and buildings and improvements, Total	$ 197,158
United States: Markets [Member] | U.S. [Member] | Cincinnati [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 1,155
Building and Improvements	0
Costs capitalized subsequent to acquisition	10,430
Carrying amount of land	1,155
Carrying amount of buildings and improvements	10,430
Carrying amount of land and buildings and improvements, Total	$ 11,585
Date of Construction/ Acquisition	2021
Other Americas Markets [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	7
Land	$ 43,136
Building and Improvements	0
Costs capitalized subsequent to acquisition	47,094
Carrying amount of land	43,136
Carrying amount of buildings and improvements	47,094
Carrying amount of land and buildings and improvements, Total	$ 90,230
Other Americas Markets [Member] | Canada [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 19,030
Building and Improvements	0
Costs capitalized subsequent to acquisition	17,143
Carrying amount of land	19,030
Carrying amount of buildings and improvements	17,143
Carrying amount of land and buildings and improvements, Total	$ 36,173
Other Americas Markets [Member] | Mexico [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	5
Land	$ 24,106
Building and Improvements	0
Costs capitalized subsequent to acquisition	29,951
Carrying amount of land	24,106
Carrying amount of buildings and improvements	29,951
Carrying amount of land and buildings and improvements, Total	$ 54,057
Date of Construction/ Acquisition	2021
Europe Markets | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	32
Land	$ 325,750
Building and Improvements	0
Costs capitalized subsequent to acquisition	225,384
Carrying amount of land	325,750
Carrying amount of buildings and improvements	225,384
Carrying amount of land and buildings and improvements, Total	$ 551,134
Europe Markets | France [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 2,988
Building and Improvements	0
Costs capitalized subsequent to acquisition	3,156
Carrying amount of land	2,988
Carrying amount of buildings and improvements	3,156
Carrying amount of land and buildings and improvements, Total	$ 6,144
Europe Markets | Poland [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 1,985
Building and Improvements	0
Costs capitalized subsequent to acquisition	7,149
Carrying amount of land	1,985
Carrying amount of buildings and improvements	7,149
Carrying amount of land and buildings and improvements, Total	$ 9,134
Europe Markets | Germany [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	3
Land	$ 23,389
Building and Improvements	0
Costs capitalized subsequent to acquisition	32,405
Carrying amount of land	23,389
Carrying amount of buildings and improvements	32,405
Carrying amount of land and buildings and improvements, Total	$ 55,794
Europe Markets | United Kingdom [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	12
Land	$ 240,561
Building and Improvements	0
Costs capitalized subsequent to acquisition	74,203
Carrying amount of land	240,561
Carrying amount of buildings and improvements	74,203
Carrying amount of land and buildings and improvements, Total	$ 314,764
Date of Construction/ Acquisition	2021
Europe Markets | Czech Republic | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	3
Land	$ 11,762
Building and Improvements	0
Costs capitalized subsequent to acquisition	10,894
Carrying amount of land	11,762
Carrying amount of buildings and improvements	10,894
Carrying amount of land and buildings and improvements, Total	$ 22,656
Europe Markets | Italy [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	5
Land	$ 14,830
Building and Improvements	0
Costs capitalized subsequent to acquisition	23,948
Carrying amount of land	14,830
Carrying amount of buildings and improvements	23,948
Carrying amount of land and buildings and improvements, Total	$ 38,778
Europe Markets | Netherlands [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	4
Land	$ 23,989
Building and Improvements	0
Costs capitalized subsequent to acquisition	67,407
Carrying amount of land	23,989
Carrying amount of buildings and improvements	67,407
Carrying amount of land and buildings and improvements, Total	$ 91,396
Date of Construction/ Acquisition	2021
Europe Markets | Hungary [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 4,389
Building and Improvements	0
Costs capitalized subsequent to acquisition	5,993
Carrying amount of land	4,389
Carrying amount of buildings and improvements	5,993
Carrying amount of land and buildings and improvements, Total	$ 10,382
Europe Markets | Sweden [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 1,857
Building and Improvements	0
Costs capitalized subsequent to acquisition	229
Carrying amount of land	1,857
Carrying amount of buildings and improvements	229
Carrying amount of land and buildings and improvements, Total	$ 2,086
Asia Markets [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	8
Land	$ 179,710
Building and Improvements	0
Costs capitalized subsequent to acquisition	537,085
Carrying amount of land	179,710
Carrying amount of buildings and improvements	537,085
Carrying amount of land and buildings and improvements, Total	$ 716,795
Asia Markets [Member] | Japan [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	8
Land	$ 179,710
Building and Improvements	0
Costs capitalized subsequent to acquisition	537,085
Carrying amount of land	179,710
Carrying amount of buildings and improvements	537,085
Carrying amount of land and buildings and improvements, Total	$ 716,795
Date of Construction/ Acquisition	2021
Operating Properties [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2,310
Land	$ 11,627,237
Building and Improvements	24,927,521
Costs capitalized subsequent to acquisition	7,899,002
Carrying amount of land	12,294,246
Carrying amount of buildings and improvements	32,159,514
Carrying amount of land and buildings and improvements, Total	44,453,760
Accumulated Depreciation	$ (7,451,382)
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2,258
Land	$ 11,324,073
Building and Improvements	24,348,682
Costs capitalized subsequent to acquisition	7,617,780
Carrying amount of land	11,986,161
Carrying amount of buildings and improvements	31,304,374
Carrying amount of land and buildings and improvements, Total	43,290,535
Accumulated Depreciation	$ (7,204,643)
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Atlanta [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	117
Land	$ 264,973
Building and Improvements	1,016,540
Costs capitalized subsequent to acquisition	347,824
Carrying amount of land	285,290
Carrying amount of buildings and improvements	1,344,047
Carrying amount of land and buildings and improvements, Total	1,629,337
Accumulated Depreciation	$ (300,774)
Date of Construction/ Acquisition	1994-2021
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Austin [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	10
Land	$ 12,783
Building and Improvements	52,335
Costs capitalized subsequent to acquisition	9,567
Carrying amount of land	12,837
Carrying amount of buildings and improvements	61,848
Carrying amount of land and buildings and improvements, Total	74,685
Accumulated Depreciation	$ (27,202)
Date of Construction/ Acquisition	1994-2015
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Baltimore/Washington D.C [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	75
Land	$ 300,564
Building and Improvements	722,249
Costs capitalized subsequent to acquisition	196,973
Carrying amount of land	312,915
Carrying amount of buildings and improvements	906,871
Carrying amount of land and buildings and improvements, Total	1,219,786
Accumulated Depreciation	$ (161,553)
Date of Construction/ Acquisition	1995-2020
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Central PA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	32
Land	$ 240,657
Building and Improvements	943,307
Costs capitalized subsequent to acquisition	124,148
Carrying amount of land	253,737
Carrying amount of buildings and improvements	1,054,375
Carrying amount of land and buildings and improvements, Total	1,308,112
Accumulated Depreciation	$ (197,801)
Date of Construction/ Acquisition	2002-2020
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Central Valley [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	34
Land	$ 163,294
Building and Improvements	386,853
Costs capitalized subsequent to acquisition	776,157
Carrying amount of land	181,008
Carrying amount of buildings and improvements	1,145,296
Carrying amount of land and buildings and improvements, Total	1,326,304
Accumulated Depreciation	$ (221,738)
Date of Construction/ Acquisition	1999-2020
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Charlotte [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	44
Land	$ 104,747
Building and Improvements	333,992
Costs capitalized subsequent to acquisition	93,011
Carrying amount of land	118,553
Carrying amount of buildings and improvements	413,197
Carrying amount of land and buildings and improvements, Total	531,750
Accumulated Depreciation	$ (67,326)
Date of Construction/ Acquisition	1994-2020
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Chicago [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	193
Land	$ 715,951
Building and Improvements	2,073,268
Costs capitalized subsequent to acquisition	495,652
Carrying amount of land	741,301
Carrying amount of buildings and improvements	2,543,570
Carrying amount of land and buildings and improvements, Total	3,284,871
Accumulated Depreciation	$ (672,820)
Date of Construction/ Acquisition	1995-2020
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Cincinnati [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	38
Land	$ 59,573
Building and Improvements	294,976
Costs capitalized subsequent to acquisition	99,029
Carrying amount of land	67,783
Carrying amount of buildings and improvements	385,795
Carrying amount of land and buildings and improvements, Total	453,578
Accumulated Depreciation	$ (73,309)
Date of Construction/ Acquisition	1996-2020
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Columbus [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	26
Land	$ 31,733
Building and Improvements	161,881
Costs capitalized subsequent to acquisition	62,815
Carrying amount of land	34,683
Carrying amount of buildings and improvements	221,746
Carrying amount of land and buildings and improvements, Total	256,429
Accumulated Depreciation	$ (93,376)
Date of Construction/ Acquisition	1996-2020
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Dallas Ft. Worth [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	167
Land	$ 355,277
Building and Improvements	1,472,061
Costs capitalized subsequent to acquisition	453,509
Carrying amount of land	377,989
Carrying amount of buildings and improvements	1,902,858
Carrying amount of land and buildings and improvements, Total	2,280,847
Accumulated Depreciation	$ (457,367)
Date of Construction/ Acquisition	1994-2020
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Denver [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	37
Land	$ 106,088
Building and Improvements	295,412
Costs capitalized subsequent to acquisition	153,217
Carrying amount of land	104,495
Carrying amount of buildings and improvements	450,222
Carrying amount of land and buildings and improvements, Total	554,717
Accumulated Depreciation	$ (137,632)
Date of Construction/ Acquisition	1993-2020
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Houston [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	180
Land	$ 368,780
Building and Improvements	1,873,268
Costs capitalized subsequent to acquisition	276,456
Carrying amount of land	411,046
Carrying amount of buildings and improvements	2,107,458
Carrying amount of land and buildings and improvements, Total	2,518,504
Accumulated Depreciation	$ (296,712)
Date of Construction/ Acquisition	1993-2020
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Indianapolis [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	21
Land	$ 19,337
Building and Improvements	135,609
Costs capitalized subsequent to acquisition	58,710
Carrying amount of land	20,575
Carrying amount of buildings and improvements	193,081
Carrying amount of land and buildings and improvements, Total	213,656
Accumulated Depreciation	$ (63,341)
Date of Construction/ Acquisition	1995-2020
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Jacksonville [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 0
Building and Improvements	2,892
Costs capitalized subsequent to acquisition	273
Carrying amount of land	0
Carrying amount of buildings and improvements	3,165
Carrying amount of land and buildings and improvements, Total	3,165
Accumulated Depreciation	$ (2,758)
Date of Construction/ Acquisition	2011
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Las Vegas [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	56
Land	$ 139,227
Building and Improvements	345,348
Costs capitalized subsequent to acquisition	179,899
Carrying amount of land	132,895
Carrying amount of buildings and improvements	531,579
Carrying amount of land and buildings and improvements, Total	664,474
Accumulated Depreciation	$ (107,515)
Date of Construction/ Acquisition	1996-2021
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Lehigh Valley [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	56
Land	$ 886,276
Building and Improvements	1,902,902
Costs capitalized subsequent to acquisition	317,508
Carrying amount of land	958,783
Carrying amount of buildings and improvements	2,147,903
Carrying amount of land and buildings and improvements, Total	3,106,686
Accumulated Depreciation	$ (192,292)
Date of Construction/ Acquisition	2004-2021
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Louisville [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	11
Land	$ 41,944
Building and Improvements	188,696
Costs capitalized subsequent to acquisition	60,895
Carrying amount of land	44,196
Carrying amount of buildings and improvements	247,339
Carrying amount of land and buildings and improvements, Total	291,535
Accumulated Depreciation	$ (71,601)
Date of Construction/ Acquisition	2005-2020
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Nashville [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	22
Land	$ 66,590
Building and Improvements	236,777
Costs capitalized subsequent to acquisition	125,256
Carrying amount of land	68,809
Carrying amount of buildings and improvements	359,814
Carrying amount of land and buildings and improvements, Total	428,623
Accumulated Depreciation	$ (62,723)
Date of Construction/ Acquisition	1995-2021
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | New Jersey/New York City [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	131
Land	$ 1,498,825
Building and Improvements	1,869,356
Costs capitalized subsequent to acquisition	618,259
Carrying amount of land	1,506,727
Carrying amount of buildings and improvements	2,479,713
Carrying amount of land and buildings and improvements, Total	3,986,440
Accumulated Depreciation	$ (675,959)
Date of Construction/ Acquisition	1996-2021
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Orlando [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	84
Land	$ 191,754
Building and Improvements	699,537
Costs capitalized subsequent to acquisition	131,196
Carrying amount of land	206,702
Carrying amount of buildings and improvements	815,785
Carrying amount of land and buildings and improvements, Total	1,022,487
Accumulated Depreciation	$ (123,996)
Date of Construction/ Acquisition	1994-2021
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Phoenix [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	49
Land	$ 146,888
Building and Improvements	394,219
Costs capitalized subsequent to acquisition	305,641
Carrying amount of land	175,268
Carrying amount of buildings and improvements	671,480
Carrying amount of land and buildings and improvements, Total	846,748
Accumulated Depreciation	$ (95,664)
Date of Construction/ Acquisition	1992-2021
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Portland [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	39
Land	$ 111,263
Building and Improvements	276,956
Costs capitalized subsequent to acquisition	147,090
Carrying amount of land	156,345
Carrying amount of buildings and improvements	378,964
Carrying amount of land and buildings and improvements, Total	535,309
Accumulated Depreciation	$ (58,904)
Date of Construction/ Acquisition	2006-2021
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Reno [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	17
Land	$ 25,389
Building and Improvements	142,279
Costs capitalized subsequent to acquisition	111,695
Carrying amount of land	26,761
Carrying amount of buildings and improvements	252,602
Carrying amount of land and buildings and improvements, Total	279,363
Accumulated Depreciation	$ (85,685)
Date of Construction/ Acquisition	1994-2021
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | San Antonio [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	20
Land	$ 25,735
Building and Improvements	95,828
Costs capitalized subsequent to acquisition	45,308
Carrying amount of land	25,958
Carrying amount of buildings and improvements	140,913
Carrying amount of land and buildings and improvements, Total	166,871
Accumulated Depreciation	$ (63,820)
Date of Construction/ Acquisition	1994-2016
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | San Francisco Bay Area [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	229
Land	$ 1,009,632
Building and Improvements	1,612,507
Costs capitalized subsequent to acquisition	494,115
Carrying amount of land	1,020,132
Carrying amount of buildings and improvements	2,096,122
Carrying amount of land and buildings and improvements, Total	3,116,254
Accumulated Depreciation	$ (777,530)
Date of Construction/ Acquisition	1993-2021
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Seattle [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	99
Land	$ 643,665
Building and Improvements	1,107,085
Costs capitalized subsequent to acquisition	315,415
Carrying amount of land	664,887
Carrying amount of buildings and improvements	1,401,278
Carrying amount of land and buildings and improvements, Total	2,066,165
Accumulated Depreciation	$ (252,838)
Date of Construction/ Acquisition	2008-2021
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | South Florida [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	107
Land	$ 500,373
Building and Improvements	889,481
Costs capitalized subsequent to acquisition	224,399
Carrying amount of land	506,262
Carrying amount of buildings and improvements	1,107,991
Carrying amount of land and buildings and improvements, Total	1,614,253
Accumulated Depreciation	$ (275,170)
Date of Construction/ Acquisition	1994-2021
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Tampa [Member
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	12
Land	$ 22,028
Building and Improvements	69,520
Costs capitalized subsequent to acquisition	12,429
Carrying amount of land	28,143
Carrying amount of buildings and improvements	75,834
Carrying amount of land and buildings and improvements, Total	103,977
Accumulated Depreciation	$ (5,694)
Date of Construction/ Acquisition	2020
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Southern California [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	351
Land	$ 3,270,727
Building and Improvements	4,753,548
Costs capitalized subsequent to acquisition	1,381,334
Carrying amount of land	3,542,081
Carrying amount of buildings and improvements	5,863,528
Carrying amount of land and buildings and improvements, Total	9,405,609
Accumulated Depreciation	$ (1,581,543)
Date of Construction/ Acquisition	2005-2021
Operating Properties [Member] | Other Americas Markets [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	33
Land	$ 224,561
Building and Improvements	391,891
Costs capitalized subsequent to acquisition	222,678
Carrying amount of land	233,744
Carrying amount of buildings and improvements	605,386
Carrying amount of land and buildings and improvements, Total	839,130
Accumulated Depreciation	$ (152,516)
Operating Properties [Member] | Other Americas Markets [Member] | Canada [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	32
Land	$ 223,831
Building and Improvements	389,604
Costs capitalized subsequent to acquisition	219,429
Carrying amount of land	232,036
Carrying amount of buildings and improvements	600,828
Carrying amount of land and buildings and improvements, Total	832,864
Accumulated Depreciation	$ (150,693)
Date of Construction/ Acquisition	2008-2021
Operating Properties [Member] | Other Americas Markets [Member] | Mexico [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 730
Building and Improvements	2,287
Costs capitalized subsequent to acquisition	3,249
Carrying amount of land	1,708
Carrying amount of buildings and improvements	4,558
Carrying amount of land and buildings and improvements, Total	6,266
Accumulated Depreciation	$ (1,823)
Date of Construction/ Acquisition	2011
Operating Properties [Member] | Europe Markets
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	13
Land	$ 78,603
Building and Improvements	50,204
Costs capitalized subsequent to acquisition	43,984
Carrying amount of land	74,184
Carrying amount of buildings and improvements	98,607
Carrying amount of land and buildings and improvements, Total	172,791
Accumulated Depreciation	$ (24,871)
Operating Properties [Member] | Europe Markets | France [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 2,831
Building and Improvements	4,844
Costs capitalized subsequent to acquisition	192
Carrying amount of land	2,832
Carrying amount of buildings and improvements	5,035
Carrying amount of land and buildings and improvements, Total	7,867
Accumulated Depreciation	$ (418)
Date of Construction/ Acquisition	2019
Operating Properties [Member] | Europe Markets | Poland [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 588
Building and Improvements	0
Costs capitalized subsequent to acquisition	6,804
Carrying amount of land	648
Carrying amount of buildings and improvements	6,744
Carrying amount of land and buildings and improvements, Total	7,392
Accumulated Depreciation	$ 0
Date of Construction/ Acquisition	2021
Operating Properties [Member] | Europe Markets | Germany [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 7,737
Building and Improvements	5,032
Costs capitalized subsequent to acquisition	601
Carrying amount of land	7,737
Carrying amount of buildings and improvements	5,633
Carrying amount of land and buildings and improvements, Total	13,370
Accumulated Depreciation	$ (3,992)
Date of Construction/ Acquisition	2011
Operating Properties [Member] | Europe Markets | Slovakia [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 2,743
Building and Improvements	0
Costs capitalized subsequent to acquisition	13,844
Carrying amount of land	0
Carrying amount of buildings and improvements	16,587
Carrying amount of land and buildings and improvements, Total	16,587
Accumulated Depreciation	$ 0
Date of Construction/ Acquisition	2021
Operating Properties [Member] | Europe Markets | Spain [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	6
Land	$ 17,496
Building and Improvements	36,639
Costs capitalized subsequent to acquisition	22,543
Carrying amount of land	15,626
Carrying amount of buildings and improvements	61,052
Carrying amount of land and buildings and improvements, Total	76,678
Accumulated Depreciation	$ (17,856)
Date of Construction/ Acquisition	2011-2019
Operating Properties [Member] | Europe Markets | United Kingdom [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 47,208
Building and Improvements	3,689
Costs capitalized subsequent to acquisition	0
Carrying amount of land	47,341
Carrying amount of buildings and improvements	3,556
Carrying amount of land and buildings and improvements, Total	50,897
Accumulated Depreciation	$ (2,605)
Date of Construction/ Acquisition	2019
Operating Properties [Member] | Asia Markets [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	6
Land	$ 0
Building and Improvements	136,744
Costs capitalized subsequent to acquisition	14,560
Carrying amount of land	157
Carrying amount of buildings and improvements	151,147
Carrying amount of land and buildings and improvements, Total	151,304
Accumulated Depreciation	$ (69,352)
Operating Properties [Member] | Asia Markets [Member] | Japan [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 0
Building and Improvements	0
Costs capitalized subsequent to acquisition	10,198
Carrying amount of land	157
Carrying amount of buildings and improvements	10,041
Carrying amount of land and buildings and improvements, Total	10,198
Accumulated Depreciation	$ (1,547)
Date of Construction/ Acquisition	2019
Operating Properties [Member] | Asia Markets [Member] | Singapore [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	5
Land	$ 0
Building and Improvements	136,744
Costs capitalized subsequent to acquisition	4,362
Carrying amount of land	0
Carrying amount of buildings and improvements	141,106
Carrying amount of land and buildings and improvements, Total	141,106
Accumulated Depreciation	$ (67,805)
Date of Construction/ Acquisition	2011

Real Estate and Accumulated D_3

Real Estate and Accumulated Depreciation (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Total operating properties and development portfolio per Schedule III	$ 47,183,100	$ 45,390,230	$ 33,157,100
Land	2,519,590
Other real estate investments (i)	3,302,500
Total per Consolidated Balance Sheets	53,005,190	50,384,328
Aggregate cost for Federal tax purposes	40,000,000
Total accumulated depreciation per Schedule III	7,451,382	6,370,341	5,294,212
Accumulated depreciation on other real estate investments	216,805
Total per Consolidated Balance Sheets	7,668,187	6,539,156
Cost of operating properties excluding land	1,300,000
Mortgage notes	397,200
Assessment bonds	9,600
Assessment bonds, aggregate undepreciated cost	638,700
Real estate assets:
Balance at beginning of year	45,390,230	33,157,100	32,774,956
Acquisitions of and improvements to operating properties, development activity and net effect of changes in foreign exchange rates and other	3,351,730	13,985,898	2,821,919
Basis of operating properties disposed of	(1,589,527)	(1,045,128)	(1,471,764)
Change in the development portfolio balance, including the acquisition of properties	846,729	13,345	(273,534)
Assets transferred to held for sale and contribution	(816,062)	(720,985)	(694,477)
Balance at end year	47,183,100	45,390,230	33,157,100
Accumulated depreciation:
Balance at beginning of year	6,370,341	5,294,212	4,550,958
Depreciation expense	1,143,758	1,112,075	843,872
Balances retired upon disposition of operating properties and net effect of changes in foreign exchange rates and other	(42,483)	(35,083)	(77,583)
Assets transferred to held for sale and contribution	(20,234)	(863)	(23,035)
Balance at end of year	$ 7,451,382	$ 6,370,341	$ 5,294,212
Standard Tenant Improvements [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	10 years
Properties Developed [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	40 years
Minimum [Member] | Capital Improvements [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	5 years
Minimum [Member] | Land improvements on developed buildings [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	15 years
Minimum [Member] | Acquired Industrial Properties [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	25 years
Maximum [Member] | Capital Improvements [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	7 years
Maximum [Member] | Land improvements on developed buildings [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	25 years
Maximum [Member] | Acquired Industrial Properties [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Useful lives for real estate assets	35 years