Prologis (PLD) 10-K 14 Feb 23 2022 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 13, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
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		923,429,000
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			$ 86,814,282,420
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 2022 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, 2022
Document Fiscal Year Focus	2022
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 2022 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, 2022	Dec. 31, 2021
ASSETS
Investments in real estate properties	$ 81,623,396	$ 53,005,190
Less accumulated depreciation	9,036,085	7,668,187
Net investments in real estate properties	72,587,311	45,337,003
Investments in and advances to unconsolidated entities	9,698,898	8,610,958
Assets held for sale or contribution	531,257	669,688
Net investments in real estate	82,817,466	54,617,649
Cash and cash equivalents	278,483	556,117
Other assets	4,801,499	3,312,454
Total assets	87,897,448	58,486,220
Liabilities:
Debt	23,875,961	17,715,054
Accounts payable and accrued expenses	1,711,885	1,252,767
Other liabilities	4,446,509	1,776,189
Total liabilities	30,034,355	20,744,010
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, 2022 and 2021	63,948	63,948
Common stock; $0.01 par value; 923,142 and 739,827 shares issued and outstanding at December 31, 2022 and 2021, respectively	9,231	7,398
Additional paid-in capital	54,065,407	35,561,608
Accumulated other comprehensive loss	(443,609)	(878,253)
Distributions in excess of net earnings	(457,695)	(1,327,828)
Total Prologis, Inc. stockholders’ equity	53,237,282	33,426,873
Noncontrolling interests	4,625,811	4,315,337
Total equity	57,863,093	37,742,210
Total liabilities and equity	87,897,448	58,486,220
Partners’ capital:
Noncontrolling interests	4,625,811	4,315,337
Total equity	57,863,093	37,742,210
Prologis, L.P. [Member]
ASSETS
Investments in real estate properties	81,623,396	53,005,190
Less accumulated depreciation	9,036,085	7,668,187
Net investments in real estate properties	72,587,311	45,337,003
Investments in and advances to unconsolidated entities	9,698,898	8,610,958
Assets held for sale or contribution	531,257	669,688
Net investments in real estate	82,817,466	54,617,649
Cash and cash equivalents	278,483	556,117
Other assets	4,801,499	3,312,454
Total assets	87,897,448	58,486,220
Liabilities:
Debt	23,875,961	17,715,054
Accounts payable and accrued expenses	1,711,885	1,252,767
Other liabilities	4,446,509	1,776,189
Total liabilities	30,034,355	20,744,010
Prologis, Inc. stockholders’ equity:
Noncontrolling interests	3,317,767	3,397,538
Partners’ capital:
Total partners’ capital	54,545,326	34,344,672
Noncontrolling interests	3,317,767	3,397,538
Total capital	57,863,093	37,742,210
Total liabilities and equity	87,897,448	58,486,220
Prologis, L.P. [Member] | Preferred [Member]
Partners’ capital:
General partner	63,948	63,948
Prologis, L.P. [Member] | Common [Member]
Partners’ capital:
General partner	53,173,334	33,362,925
Limited partners	843,263	557,097
Prologis, L.P. [Member] | Class A Common [Member]
Partners’ capital:
Limited partners	$ 464,781	$ 360,702

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
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	923,142,000	739,827,000
Common stock, shares outstanding	923,142,000	739,827,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Rental		$ 4,913,171	$ 4,147,994	$ 3,791,131
Strategic capital		1,039,585	590,750	636,987
Development management and other		20,936	20,696	10,617
Total revenues		5,973,692	4,759,440	4,438,735
Expenses:
Rental		1,205,738	1,041,316	952,063
Strategic capital		303,356	207,171	218,041
General and administrative		331,083	293,167	274,845
Depreciation and amortization		1,812,777	1,577,942	1,561,969
Other		40,336	22,435	30,010
Total expenses		3,693,290	3,142,031	3,036,928
Operating income before gains on real estate transactions, net		2,280,402	1,617,409	1,401,807
Gains on dispositions of development properties and land, net		597,745	817,017	464,942
Gains on other dispositions of investments in real estate, net	[1]	589,391	772,570	252,195
Operating income		3,467,538	3,206,996	2,118,944
Other income (expense):
Earnings from unconsolidated entities, net		310,872	404,255	297,370
Interest expense		(309,037)	(266,228)	(314,507)
Foreign currency and derivative gains (losses) and other income (expense), net		241,621	165,278	(166,429)
Losses on early extinguishment of debt, net		(20,184)	(187,453)	(188,290)
Total other income (expense)		223,272	115,852	(371,856)
Earnings before income taxes		3,690,810	3,322,848	1,747,088
Total income tax expense		(135,412)	(174,258)	(130,458)
Consolidated net earnings		3,555,398	3,148,590	1,616,630
Less net earnings attributable to noncontrolling interests		190,542	208,867	134,816
Net earnings attributable to controlling interests		3,364,856	2,939,723	1,481,814
Less preferred stock/unit dividends/distributions		6,060	6,152	6,345
Loss on preferred stock/unit repurchase		0	0	2,347
Net earnings attributable to common stockholders/unitholders		$ 3,358,796	$ 2,933,571	$ 1,473,122
Weighted average common shares/units outstanding - Basic		785,675	739,363	728,323
Weighted average common shares/units outstanding - Diluted	[2]	811,608	764,762	754,414
Net earnings per share/unit attributable to common stockholders/unitholders - Basic		$ 4.28	$ 3.97	$ 2.02
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted		$ 4.25	$ 3.94	$ 2.01
Prologis, L.P. [Member]
Revenues:
Rental		$ 4,913,171	$ 4,147,994	$ 3,791,131
Strategic capital		1,039,585	590,750	636,987
Development management and other		20,936	20,696	10,617
Total revenues		5,973,692	4,759,440	4,438,735
Expenses:
Rental		1,205,738	1,041,316	952,063
Strategic capital		303,356	207,171	218,041
General and administrative		331,083	293,167	274,845
Depreciation and amortization		1,812,777	1,577,942	1,561,969
Other		40,336	22,435	30,010
Total expenses		3,693,290	3,142,031	3,036,928
Operating income before gains on real estate transactions, net		2,280,402	1,617,409	1,401,807
Gains on dispositions of development properties and land, net		597,745	817,017	464,942
Gains on other dispositions of investments in real estate, net		589,391	772,570	252,195
Operating income		3,467,538	3,206,996	2,118,944
Other income (expense):
Earnings from unconsolidated entities, net		310,872	404,255	297,370
Interest expense		(309,037)	(266,228)	(314,507)
Foreign currency and derivative gains (losses) and other income (expense), net		241,621	165,278	(166,429)
Losses on early extinguishment of debt, net		(20,184)	(187,453)	(188,290)
Total other income (expense)		223,272	115,852	(371,856)
Earnings before income taxes		3,690,810	3,322,848	1,747,088
Total income tax expense		(135,412)	(174,258)	(130,458)
Consolidated net earnings		3,555,398	3,148,590	1,616,630
Less net earnings attributable to noncontrolling interests		98,611	127,075	93,195
Net earnings attributable to controlling interests		3,456,787	3,021,515	1,523,435
Less preferred stock/unit dividends/distributions		6,060	6,152	6,345
Loss on preferred stock/unit repurchase		0	0	2,347
Net earnings attributable to common stockholders/unitholders		$ 3,450,727	$ 3,015,363	$ 1,514,743
Weighted average common shares/units outstanding - Basic		799,153	751,973	740,860
Weighted average common shares/units outstanding - Diluted	[2]	811,608	764,762	754,414
Net earnings per share/unit attributable to common stockholders/unitholders - Basic		$ 4.28	$ 3.97	$ 2.02
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted		$ 4.25	$ 3.94	$ 2.01
[1] In 2021, we sold our ownership interest in an unconsolidated other venture.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Consolidated net earnings	$ 3,555,398	$ 3,148,590	$ 1,616,630
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	373,405	305,929	(194,673)
Unrealized gains (losses) on derivative contracts, net	71,639	17,542	(14,117)
Comprehensive income	4,000,442	3,472,061	1,407,840
Net earnings attributable to noncontrolling interests	(190,542)	(208,867)	(134,816)
Other comprehensive loss (income) attributable to noncontrolling interests	(10,400)	(7,985)	5,449
Comprehensive income attributable to common stockholders/unitholders	3,799,500	3,255,209	1,278,473
Prologis, L.P. [Member]
Consolidated net earnings	3,555,398	3,148,590	1,616,630
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	373,405	305,929	(194,673)
Unrealized gains (losses) on derivative contracts, net	71,639	17,542	(14,117)
Comprehensive income	4,000,442	3,472,061	1,407,840
Net earnings attributable to noncontrolling interests	(98,611)	(127,075)	(93,195)
Other comprehensive loss (income) attributable to noncontrolling interests	292	692	(92)
Comprehensive income attributable to common stockholders/unitholders	$ 3,902,123	$ 3,345,678	$ 1,314,553

Consolidated Statements of Equi

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement Of Stockholders Equity [Abstract]
Dividends per common share	$ 3.16	$ 2.52	$ 2.32

Consolidated Statements of Eq_2

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Duke Transaction [Member]	Preferred Stock [Member]	Common Stock [Member]	Common Stock [Member] Duke Transaction [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member] Duke Transaction [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Distributions in Excess of Net Earnings [Member]	Noncontrolling Interests [Member]	Noncontrolling Interests [Member] Duke Transaction [Member]
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 and Duke Transaction, net of issuance costs	10,013,526			$ 1,067		9,801,373				211,086
Liberty and Duke 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
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
Consolidation of other venture	25,759									25,759
Capital contributions	74,404									74,404
Redemption of noncontrolling interests	(153,236)			$ 8		37,238				(190,482)
Redemption of noncontrolling interests, shares				835
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 net earnings	$ 3,555,398								3,364,856	190,542
Effect of equity compensation plans	187,725			$ 4		66,647				121,074
Effect of equity compensation plans, shares				393
Liberty and Duke Transaction, net of issuance costs, shares					182,661
Acquisitions by noncontrolling interests		$ 18,773,244			$ 1,827		$ 18,551,852				$ 219,565
Capital contributions	13,295									13,295
Redemption of noncontrolling interests	(88,980)			$ 2		12,445				(101,427)
Redemption of noncontrolling interests, shares				261
Foreign currency translation gains (losses), net	373,405							364,725		8,680
Unrealized gains (losses) on derivative contracts, net	71,639							69,919		1,720
Reallocation of equity						(127,134)				127,134
Dividends and other distributions	(2,764,843)					(11)			(2,494,723)	(270,109)
Balance at Dec. 31, 2022	$ 57,863,093		$ 63,948	$ 9,231		$ 54,065,407		$ (443,609)	$ (457,695)	$ 4,625,811
Balance, shares at Dec. 31, 2022	923,142			923,142

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities:
Consolidated net earnings		$ 3,555,398	$ 3,148,590	$ 1,616,630
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases		(267,709)	(148,239)	(126,328)
Equity-based compensation awards		175,356	113,028	109,831
Depreciation and amortization		1,812,777	1,577,942	1,561,969
Earnings from unconsolidated entities, net		(310,872)	(404,255)	(297,370)
Operating distributions from unconsolidated entities		410,483	440,034	450,622
Decrease (increase) in operating receivables from unconsolidated entities		(63,947)	(14,223)	14,670
Amortization of debt discounts and debt issuance costs, net		23,736	8,656	7,859
Gains on dispositions of development properties and land, net		(597,745)	(817,017)	(464,942)
Gains on other dispositions of investments in real estate, net	[1]	(589,391)	(772,570)	(252,195)
Unrealized foreign currency and derivative losses (gains), net		(92,201)	(173,026)	160,739
Losses on early extinguishment of debt, net		20,184	187,453	188,290
Deferred income tax expense		12,638	1,322	744
Increase in accounts receivable and other assets		(71,307)	(328,511)	(127,619)
Increase in accounts payable and accrued expenses and other liabilities		109,030	176,858	94,105
Net cash provided by operating activities		4,126,430	2,996,042	2,937,005
Investing activities:
Real estate development		(3,118,379)	(2,639,872)	(1,920,218)
Real estate acquisitions		(2,492,108)	(2,320,448)	(1,239,034)
Tenant improvements and lease commissions on previously leased space		(339,234)	(329,059)	(221,491)
Property improvements		(211,358)	(169,933)	(149,491)
Proceeds from dispositions and contributions of real estate		2,063,623	4,222,290	2,281,940
Investments in and advances to unconsolidated entities		(442,366)	(798,103)	(385,936)
Return of investment from unconsolidated entities		76,994	58,275	257,065
Proceeds from repayment of notes receivable backed by real estate		0	0	4,312
Proceeds from the settlement of net investment hedges		59,281	3,305	2,352
Payments on the settlement of net investment hedges		(3,458)	(16,513)	(9,034)
Net cash used in investing activities		(4,499,057)	(1,990,058)	(3,074,330)
Financing activities:
Proceeds from issuance of common stock/units		0	743	2,217
Repurchase and retirement of common stock		0	0	(34,829)
Repurchase of preferred stock		0	0	(7,200)
Dividends/distributions paid on common and preferred stock/units		(2,494,723)	(1,872,861)	(1,722,989)
Noncontrolling interests contributions		13,295	74,404	917,092
Noncontrolling interests distributions		(270,109)	(375,054)	(361,636)
Settlement of noncontrolling interests		(88,980)	(153,236)	(116,978)
Tax paid with shares withheld		(27,688)	(19,855)	(24,887)
Debt and equity issuance costs paid		(45,654)	(23,318)	(54,204)
Net proceeds from (payments on) credit facilities		294,164	323,336	(10,959)
Repurchase of and payments on debt		(1,381,005)	(2,560,174)	(6,782,306)
Proceeds from the issuance of debt		4,116,489	3,597,690	7,824,517
Net cash provided by (used in) financing activities		115,789	(1,008,325)	(372,162)
Effect of foreign currency exchange rate changes on cash		(20,796)	(39,628)	18,718
Net decrease in cash and cash equivalents		(277,634)	(41,969)	(490,769)
Cash and cash equivalents, beginning of year		556,117	598,086	1,088,855
Cash and cash equivalents, end of year		278,483	556,117	598,086
Prologis, L.P. [Member]
Operating activities:
Consolidated net earnings		3,555,398	3,148,590	1,616,630
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases		(267,709)	(148,239)	(126,328)
Equity-based compensation awards		175,356	113,028	109,831
Depreciation and amortization		1,812,777	1,577,942	1,561,969
Earnings from unconsolidated entities, net		(310,872)	(404,255)	(297,370)
Operating distributions from unconsolidated entities		410,483	440,034	450,622
Decrease (increase) in operating receivables from unconsolidated entities		(63,947)	(14,223)	14,670
Amortization of debt discounts and debt issuance costs, net		23,736	8,656	7,859
Gains on dispositions of development properties and land, net		(597,745)	(817,017)	(464,942)
Gains on other dispositions of investments in real estate, net		(589,391)	(772,570)	(252,195)
Unrealized foreign currency and derivative losses (gains), net		(92,201)	(173,026)	160,739
Losses on early extinguishment of debt, net		20,184	187,453	188,290
Deferred income tax expense		12,638	1,322	744
Increase in accounts receivable and other assets		(71,307)	(328,511)	(127,619)
Increase in accounts payable and accrued expenses and other liabilities		109,030	176,858	94,105
Net cash provided by operating activities		4,126,430	2,996,042	2,937,005
Investing activities:
Real estate development		(3,118,379)	(2,639,872)	(1,920,218)
Real estate acquisitions		(2,492,108)	(2,320,448)	(1,239,034)
Tenant improvements and lease commissions on previously leased space		(339,234)	(329,059)	(221,491)
Property improvements		(211,358)	(169,933)	(149,491)
Proceeds from dispositions and contributions of real estate		2,063,623	4,222,290	2,281,940
Investments in and advances to unconsolidated entities		(442,366)	(798,103)	(385,936)
Return of investment from unconsolidated entities		76,994	58,275	257,065
Proceeds from repayment of notes receivable backed by real estate		0	0	4,312
Proceeds from the settlement of net investment hedges		59,281	3,305	2,352
Payments on the settlement of net investment hedges		(3,458)	(16,513)	(9,034)
Net cash used in investing activities		(4,499,057)	(1,990,058)	(3,074,330)
Financing activities:
Proceeds from issuance of common stock/units		0	743	2,217
Repurchase and retirement of common stock		0	0	(34,829)
Repurchase of preferred stock		0	0	(7,200)
Dividends/distributions paid on common and preferred stock/units		(2,571,267)	(1,935,381)	(1,781,482)
Noncontrolling interests contributions		13,295	74,404	917,092
Noncontrolling interests distributions		(193,565)	(312,534)	(303,143)
Redemption of common limited partnership units		(88,980)	(153,236)	(116,978)
Tax paid for shares of the Parent withheld		(27,688)	(19,855)	(24,887)
Debt and equity issuance costs paid		(45,654)	(23,318)	(54,204)
Net proceeds from (payments on) credit facilities		294,164	323,336	(10,959)
Repurchase of and payments on debt		(1,381,005)	(2,560,174)	(6,782,306)
Proceeds from the issuance of debt		4,116,489	3,597,690	7,824,517
Net cash provided by (used in) financing activities		115,789	(1,008,325)	(372,162)
Effect of foreign currency exchange rate changes on cash		(20,796)	(39,628)	18,718
Net decrease in cash and cash equivalents		(277,634)	(41,969)	(490,769)
Cash and cash equivalents, beginning of year		556,117	598,086	1,088,855
Cash and cash equivalents, end of year		278,483	556,117	598,086
Duke Transaction [Member]
Investing activities:
Transaction, net of cash acquired		(92,052)	0	0
Duke Transaction [Member] | Prologis, L.P. [Member]
Investing activities:
Transaction, net of cash acquired		(92,052)	0	0
Liberty Transaction [Member]
Investing activities:
Transaction, net of cash acquired		0	0	(29,436)
Liberty Transaction [Member] | Prologis, L.P. [Member]
Investing activities:
Transaction, net of cash acquired		0	0	(29,436)
IPT Transaction [Member]
Investing activities:
Transaction, net of cash acquired		0	0	(1,665,359)
IPT Transaction [Member] | Prologis, L.P. [Member]
Investing activities:
Transaction, net of cash acquired		$ 0	$ 0	$ (1,665,359)
[1] In 2021, we sold our ownership interest in an unconsolidated other venture.

Consolidated Statements of Capi

Consolidated Statements of Capital - USD ($) shares in Thousands, $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Consolidated net earnings	$ 620,066	$ 1,219,722	$ 1,300,853	$ 399,693	$ 3,555,398	$ 3,148,590	$ 1,616,630
Effect of equity compensation plans					187,725	116,172	109,985
Issuance of units related to acquisitions						130,416	48,533
Repurchase of preferred units							(7,200)
Capital contributions					13,295	74,404	917,092
Consolidation of other venture						25,759
Unrealized gains (losses) on derivative contracts, net					71,639	17,542	(14,117)
Noncontrolling Interests [Member]
Consolidated net earnings					190,542	208,867	134,816
Effect of equity compensation plans					121,074	78,062	82,233
Issuance of units related to acquisitions						130,416	48,533
Capital contributions					13,295	74,404	917,092
Consolidation of other venture						25,759
Unrealized gains (losses) on derivative contracts, net					1,720	$ 469	(375)
Duke Transaction [Member]
Issuance of units related to acquisitions					18,773,244
Duke Transaction [Member] | Noncontrolling Interests [Member]
Issuance of units related to acquisitions					$ 219,565
Limited Partners [Member]
Consolidated net earnings	$ 620,066	$ 1,219,722	$ 1,300,853	399,693
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		$ 37,742,210		36,324,580	$ 37,742,210	$ 36,324,580	26,071,784
Consolidated net earnings					3,555,398	3,148,590	1,616,630
Effect of equity compensation plans					187,725	116,172	109,985
Issuance of units related to acquisitions						130,416	48,533
Repurchase of common units							(34,829)
Repurchase of preferred units							(7,200)
Capital contributions					13,295	74,404	917,092
Redemption of limited partnership units					(88,980)	(153,236)	(116,978)
Consolidation of other venture						25,759
Foreign currency translation gains (losses), net					373,405	305,929	(194,673)
Unrealized gains (losses) on derivative contracts, net					71,639	17,542	(14,117)
Distributions and other					(2,764,843)	(2,247,946)	(2,085,173)
Ending balance	$ 57,863,093		$ 37,742,210		57,863,093	37,742,210	36,324,580
Prologis, L.P. [Member] | Noncontrolling Interests [Member]
Beginning balance		3,397,538		3,483,526	3,397,538	3,483,526	2,775,394
Consolidated net earnings					98,611	127,075	93,195
Capital contributions					13,295	74,404	917,092
Consolidation of other venture						25,759
Foreign currency translation gains (losses), net					(292)	(692)	92
Distributions and other					(193,565)	(312,534)	(303,143)
Ending balance	3,317,767		3,397,538		3,317,767	3,397,538	3,483,526
Prologis, L.P. [Member] | Liberty Transaction [Member]
Acquisitions, net of issuance costs							10,013,526
Prologis, L.P. [Member] | Liberty Transaction [Member] | Noncontrolling Interests [Member]
Acquisitions, net of issuance costs							896
Prologis, L.P. [Member] | Duke Transaction [Member]
Acquisitions, net of issuance costs					18,773,244
Prologis, L.P. [Member] | Duke Transaction [Member] | Noncontrolling Interests [Member]
Acquisitions, net of issuance costs					2,180
Prologis, L.P. [Member] | Limited Partners [Member]
Acquisitions, net of issuance costs						$ 130,400
Acquisitions, net of issuance costs, units						1,000
Prologis, L.P. [Member] | Preferred [Member] | General Partner [Member]
Beginning balance		$ 63,948		$ 63,948	$ 63,948	$ 63,948	$ 68,948
Beginning balance, Units		1,279		1,279	1,279	1,279	1,379
Repurchase of preferred units							$ (5,000)
Redemption of preferred units, units							(100)
Ending balance	$ 63,948		$ 63,948		$ 63,948	$ 63,948	$ 63,948
Ending balance, Units	1,279		1,279		1,279	1,279	1,279
Prologis, L.P. [Member] | Common [Member] | General Partner [Member]
Beginning balance		$ 33,362,925		$ 31,907,599	$ 33,362,925	$ 31,907,599	$ 22,584,179
Beginning balance, Units		739,827		739,381	739,827	739,381	631,797
Consolidated net earnings					$ 3,364,856	$ 2,939,723	$ 1,481,814
Effect of equity compensation plans					$ 66,651	$ 38,110	$ 27,752
Effect of equity compensation plans, units					393	(389)	690
Repurchase of common units							$ (34,829)
Repurchases of common units, units							(539)
Repurchase of preferred units							$ (2,200)
Redemption of limited partnership units					$ 12,447	$ 37,246	$ 30,734
Redemption of limited partners units, units					261	835	710
Foreign currency translation gains (losses), net					$ 364,725	$ 298,413	$ (189,599)
Unrealized gains (losses) on derivative contracts, net					69,919	17,073	(13,742)
Reallocation of capital					(127,134)	(2,347)	(55,413)
Distributions and other					(2,494,734)	(1,872,892)	(1,723,537)
Ending balance	$ 53,173,334		$ 33,362,925		$ 53,173,334	$ 33,362,925	$ 31,907,599
Ending balance, Units	923,142		739,827		923,142	739,827	739,381
Prologis, L.P. [Member] | Common [Member] | General Partner [Member] | Liberty Transaction [Member]
Acquisitions, net of issuance costs							$ 9,802,440
Acquisitions, net of issuance costs, units							106,723
Prologis, L.P. [Member] | Common [Member] | General Partner [Member] | Duke Transaction [Member]
Acquisitions, net of issuance costs					$ 18,553,679
Acquisitions, net of issuance costs, units					182,661
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Beginning balance		$ 557,097		$ 523,954	$ 557,097	$ 523,954	$ 355,076
Beginning balance, Units		12,354		12,142	12,354	12,142	9,933
Consolidated net earnings					$ 57,620	$ 50,034	$ 25,359
Effect of equity compensation plans					$ 121,074	$ 78,062	$ 82,233
Effect of equity compensation plans, units					1,064	1,286	1,362
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					$ (101,427)	$ (190,482)	$ (146,990)
Redemption of limited partners units, units					(918)	(2,105)	(1,902)
Foreign currency translation gains (losses), net					$ 5,785	$ 4,982	$ (3,113)
Unrealized gains (losses) on derivative contracts, net					1,109	285	(226)
Reallocation of capital					38,931	133	(10,868)
Distributions and other					(54,311)	(40,287)	(36,240)
Ending balance	$ 843,263		$ 557,097		$ 843,263	$ 557,097	$ 523,954
Ending balance, Units	14,640		12,354		14,640	12,354	12,142
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member] | Liberty Transaction [Member]
Acquisitions, net of issuance costs							$ 210,190
Acquisitions, net of issuance costs, units							2,288
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member] | Duke Transaction [Member]
Acquisitions, net of issuance costs					$ 217,385
Acquisitions, net of issuance costs, units					2,140
Prologis, L.P. [Member] | Class A Common [Member] | Limited Partners [Member]
Beginning balance		$ 360,702		$ 345,553	$ 360,702	$ 345,553	$ 288,187
Beginning balance, Units		8,595		8,595	8,595	8,595	8,613
Consolidated net earnings					$ 34,311	$ 31,758	$ 16,262
Redemption of limited partnership units							$ (722)
Redemption of limited partners units, units							(18)
Foreign currency translation gains (losses), net					3,187	3,226	$ (2,053)
Unrealized gains (losses) on derivative contracts, net					611	184	(149)
Reallocation of capital					88,203	2,214	66,281
Distributions and other					(22,233)	(22,233)	(22,253)
Ending balance	$ 464,781		$ 360,702		$ 464,781	$ 360,702	$ 345,553
Ending balance, Units	8,595		8,595		8,595	8,595	8,595

Consolidated Statements of Ca_2

Consolidated Statements of Capital (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement Of Partners Capital [Abstract]
Distributions per common unit	$ 3.16	$ 2.52	$ 2.32

Description of the Business

Description of the Business	12 Months Ended
	Dec. 31, 2022
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 (Rental Operations and Development) and Strategic Capital. Our Real Estate Segment represents the ownership, leasing and development of logistics properties. Our Strategic Capital Segment represents the management of properties owned by our 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, 2022, the Parent owned a 97.60% common general partnership interest in the OP and substantially all of the preferred units in the OP. The remaining 2.40% 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, 2022
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 the entity, 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 that 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. In instances where we do not have a controlling interest in the venture, we apply the equity method of accounting when the factors indicate we have the ability to exercise significant influence over the venture. 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) and Other Income (Expense), 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 the fair value of most of our real estate acquisitions is 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. The difference between the cost and the estimated fair value (excess or bargain consideration) 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 intend to sell in the next twelve months 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, defined as rental revenues less rental expenses, 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 in-place rents that are higher or lower than our estimate of current market rents in each 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 which would be foregone during a reasonable lease-up period, 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 when a property that was developed has been completed for one year, or is 90% occupied. 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 40 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. The weighted average lease term for leases that commenced during 2022, based on square feet, was 69 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. 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 operating income from 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 operating income from 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 operating income from 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 or cash flow hedges are recorded in AOCI/L AOCI/L Foreign Currency and Derivative Gains (Losses) and Other Income (Expense), 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 Foreign Currency and Derivative Gains (Losses) and Other Income (Expense) , Net . 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”) directly from third-party investors in the co-investment ventures based on the cumulative returns of the venture over a three-year period or the stabilization of individual development projects owned by the venture. 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 from third parties 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. For deferred gains from partial sales recorded prior to the adoption of the revenue recognition standard, we continue to recognize these gains over the lives of the underlying real estate properties or at the time of disposition to a third party. If our ownership interest in an unconsolidated entity decreases and the decrease is expected to be permanent, we recognize the amounts relating to previously deferred gains to coincide with our new ownership interest. 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 co-investment ventures 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 unconsoli

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2022
Business Combinations [Abstract]
Acquisitions	NOTE 3. ACQUISITIONS Duke Transaction On October 3, 2022, we acquired Duke Realty Corporation and Duke Realty Limited Partnership (collectively “Duke” or the “Duke Transaction”). Through the Duke Transaction, we acquired a portfolio primarily comprised of logistics real estate assets, including industrial operating properties, aggregating million square feet, . There was approximately million square feet of non-strategic operating industrial properties acquired in the Duke Transaction for which our intent is not to operate these properties long-term. These assets are classified as Other Real Estate Investments in the Consolidated Balance Sheets. The portfolio also included properties under development, land for future development and investments in other ventures. The Duke Transaction was completed for $23.2 billion through the issuance of equity based on the value of the Prologis common stock and units issued of $18.8 billion, the assumption of debt of $4.2 billion and transaction costs. In connection with the transaction, each issued and outstanding share or unit held by a Duke shareholder or unitholder was converted automatically into 0.475 shares of Prologis common stock or common units of Prologis, L.P., respectively, including shares and units under Duke’s equity incentive plan that became fully vested at closing. The aggregate equity consideration is calculated below (in millions, except price per share): Number of Prologis shares and units issued upon conversion of Duke's shares and units at October 3, 2022 184.80 Multiplied by price of Prologis' common stock on September 30, 2022 $ 101.60 Fair value of Prologis shares and units issued $ 18,776 We accounted for the Duke Transaction as an asset acquisition and as a result, the transaction costs of $239.8 million were capitalized to the basis of the acquired properties. Transaction costs included the direct costs incurred to acquire the real estate assets. Under acquisition accounting, the total cost or total consideration exchanged is allocated to the real estate properties and related lease intangibles on a relative fair value basis. As the fair value of the properties acquired exceeded the purchase price, we allocated the bargain consideration at a property-level based on the relative fair value of the property in comparison to the total portfolio. All other assets acquired and liabilities assumed, including debt, and real estate assets that we intend to sell in the next twelve months were recorded at fair value. The total purchase price, including transaction costs, was allocated as follows (in millions): Net investments in real estate $ 24,908 Cash and other assets 441 Debt (4,162 ) Intangible liabilities, net of intangible assets (1) (1,461 ) Accounts payable, accrued expenses and other liabilities (708 ) Noncontrolling interests (2 ) Total purchase price, including transaction costs $ 19,016 (1) Intangible assets of $832.5 million and intangible liabilities of $2.3 billion were included within Other Assets and Other Liabilities , respectively, on the Consolidated Balance Sheets. The acquired lease intangibles from the Duke Transaction will be amortized over the terms of the respective leases with a weighted average remaining lease term of 64 months Liberty Transaction On February 4, 2020, we acquired Liberty Property Trust and Liberty Property Limited Partnership (collectively “Liberty” or the “Liberty Transaction”). 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. 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. 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 the direct costs incurred to acquire the real estate assets. The total purchase price allocation for Liberty was 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, 2022
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 2022 (1) 2021 2022 (1) 2021 2022 (1) 2021 Operating properties: Buildings and improvements 597,362 444,413 2,825 2,310 $ 48,650,334 $ 32,159,514 Improved land 20,388,461 12,294,246 Development portfolio, including land costs: Prestabilized 4,874 6,325 15 16 597,553 710,091 Properties under development 44,011 28,638 121 83 3,614,601 2,019,249 Land (2) 3,338,121 2,519,590 Other real estate investments (3) 5,034,326 3,302,500 Total investments in real estate properties 81,623,396 53,005,190 Less accumulated depreciation 9,036,085 7,668,187 Net investments in real estate properties $ 72,587,311 $ 45,337,003 (1) Includes the acquired real estate properties from the Duke Transaction at December 31, 2022. See Note 3 for more information. (2) At December 31, 2022 and 2021, our land was comprised of 7,188 and 6,227 acres, respectively. (3) Included in other real estate investments were: (i) non-strategic real estate assets, primarily acquired from the Duke Transaction, that we do not intend to operate long-term; (ii) land parcels we own and lease to third parties; (iii) non-industrial real estate assets that we generally intend to redevelop into industrial properties; and (iv) costs associated with potential acquisitions and future development projects, including purchase options on land. At December 31, 2022, 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 (China, Japan and Singapore). Acquisitions The following table summarizes our real estate acquisition activity, excluding the Duke Transaction and Liberty Transaction as discussed in Note 3, for the years ended December 31 (dollars and square feet in thousands): 2022 2021 (1) 2020 (2) Number of operating properties 23 31 150 Square feet 5,169 6,760 21,874 Acres of land 2,218 2,684 830 Acquisition cost of net investments in real estate, excluding other real estate investments $ 1,828,256 $ 2,517,644 $ 3,054,381 Acquisition cost of other real estate investments $ 641,168 $ 525,499 $ 206,084 (1) Included in 2021, is our acquisition of additional ownership interest in certain unconsolidated other ventures that we acquired from our partners and subsequently resulted in the consolidation of 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. 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): 2022 2021 2020 Dispositions of development properties and land, net (1) Number of properties 21 41 41 Square feet 7,676 16,482 14,482 Net proceeds $ 1,398,585 $ 2,629,750 $ 1,693,557 Gains on dispositions of development properties and land, net $ 597,745 $ 817,017 $ 464,942 Other dispositions of investments in real estate, net (2) Number of properties 103 97 61 Square feet 8,718 20,806 10,562 Net proceeds $ 1,271,639 $ 2,536,622 $ 1,264,692 Gains on other dispositions of investments in real estate, net $ 589,391 $ 772,570 $ 252,195 (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.

Leases

Leases	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Leases	Leases As a Lessor We lease our real estate 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 55 months based on square feet for all leases in effect at December 31, 2022. 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, 2022 (in thousands): 2023 $ 4,404,367 2024 4,221,731 2025 3,800,708 2026 3,231,191 2027 2,578,599 Thereafter 9,452,245 Total $ 27,688,841 These amounts do not reflect future rental revenue from the renewal or replacement of existing leases and exclude reimbursements of operating expenses along with rental increases that are not fixed. As a Lessee We had approximately 135 and 120 land and office space leases in which we were the lessee at December 31, 2022 and 2021, respectively, which primarily qualify as operating leases with remaining lease terms of 1 to 87 years at December 31, 2022. Our lease liabilities were $638.8 million and $448.4 million at December 31, 2022 and 2021, respectively. The following table summarizes the fixed, future minimum rental payments, excluding variable costs, for leases that had commenced at December 31, 2022, with amounts discounted at lease commencement by our incremental borrowing rates to calculate the lease liabilities of our leases (in thousands): 2023 $ 62,061 2024 71,709 2025 56,349 2026 47,443 2027 39,642 Thereafter 1,144,025 Total undiscounted rental payments 1,421,229 Less imputed interest 782,418 Total lease liabilities $ 638,811 The weighted average remaining lease term for these leases was 31 and 28 years at December 31, 2022 and 2021, 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 discount rate was 3.4% and 3.2% at December 31, 2022 and 2021, 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, 2022
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): 2022 2021 Unconsolidated co-investment ventures $ 8,073,927 $ 7,825,455 Other ventures (1) 1,624,971 785,503 Total $ 9,698,898 $ 8,610,958 (1) In 2022, we completed the Duke Transaction and acquired an equity method investment in several other ventures. 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 2022 2021 2022 2021 Prologis Targeted U.S. Logistics Fund, L.P. (“USLF”) 26.2 % 27.0 % $ 2,397,544 $ 2,393,232 FIBRA Prologis (1) 47.9 % 47.3 % 888,710 694,590 Prologis European Logistics Partners (“PELP”) (2) (3) 50.0 % 50.0 % 1,949,002 2,097,332 Prologis European Logistics Fund (“PELF”) (3) 23.8 % 23.8 % 1,837,615 1,605,253 Prologis UK Logistics Venture (“UKLV”) (2) (3) - 15.0 % - 9,243 Nippon Prologis REIT, Inc. (“NPR”) (4) 15.1 % 15.1 % 614,933 684,029 Prologis China Core Logistics Fund, LP (“PCCLF”) 15.5 % 15.3 % 92,863 75,922 Prologis China Logistics Venture I, LP, II, LP and III, LP (“Prologis China Logistics Venture”) (2) 15.0 % 15.0 % 111,906 120,283 Prologis Brazil Logistics Venture (“PBLV”) and other joint ventures (2) 20.0 % 20.0 % 181,354 145,571 Total $ 8,073,927 $ 7,825,455 (1) At December 31, 2022, we owned 489.1 million units of FIBRA Prologis that had a closing price of Ps 55.83 ($2.88) 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 was a $9.2 million outstanding receivable balance that was paid in the second quarter of 2022 (4) At December 31, 2022, we owned 0.4 million units of NPR that had a closing price of ¥308,500 ($2,339) 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, 2022 and 2021, we had receivables from NPR of $161.4 million and $175.2 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 2022 2021 2020 Recurring fees $ 455,385 $ 395,765 $ 318,423 Transactional fees 67,048 78,552 65,804 Promote revenue (1) 503,779 77,199 239,268 Total strategic capital revenues from unconsolidated co-investment ventures (2) $ 1,026,212 $ 551,516 $ 623,495 (1) Includes promote revenue earned primarily from PELF in September 2022 and USLF in June 2020. (2) These amounts exclude strategic capital revenues from other ventures. The following table summarizes the key property information, financial position and operating information of our unconsolidated co-investment ventures 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: 2022 2021 2022 2021 2022 (2) 2021 2022 2021 2022 2021 Key property information: Ventures 1 1 2 2 2 2 3 3 8 8 Operating properties 739 732 260 254 989 818 217 203 2,205 2,007 Square feet 123 122 60 56 219 198 89 82 491 458 Financial position: Total assets ($) 12,617 11,619 3,744 3,349 22,502 18,373 9,964 10,746 48,827 44,087 Third-party debt ($) 3,468 3,069 919 1,052 5,315 3,737 3,811 4,157 13,513 12,015 Total liabilities ($) 4,143 3,717 1,011 1,116 7,292 5,619 4,279 4,685 16,725 15,137 Our investment balance ($) (3) 2,398 2,393 1,070 840 3,786 3,712 820 880 8,074 7,825 Our weighted average ownership (4) 26.2 % 27.0 % 41.0 % 40.8 % 31.0 % 30.9 % 15.2 % 15.1 % 27.4 % 26.9 % U.S. Other Americas (1) Europe Asia Total Operating Information: 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 For the years ended: Total revenues ($) 1,182 1,039 946 383 321 278 1,424 1,387 1,208 629 653 584 3,618 3,400 3,016 Net earnings ($) 292 312 169 137 120 91 493 1,070 390 114 160 255 1,036 1,662 905 Our earnings from unconsolidated co-investment ventures, net ($) 79 82 46 47 43 34 150 214 121 19 27 39 295 366 240 (1) PBLV and our other Brazilian joint ventures are combined as one venture for the purpose of this table. (2) In September 2022, PELF acquired a real estate portfolio that primarily included 125 industrial operating properties. (3) 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, 2022 and 2021, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018 ($546.9 million and $559.7 million, respectively); (ii) recording additional costs associated with our investment in the venture ($90.4 million and $96.6 million, respectively); (iii) receivables, principally for fees and promotes ($193.7 million and $149.5 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to NPR, as discussed above. (4) Represents our weighted average ownership interest in all unconsolidated co-investment ventures based on each entity’s contribution of total assets before depreciation, net of other liabilities. Equity Commitments Related to Certain Unconsolidated Co-Investment Ventures 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 commitments 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, 2022, our outstanding equity commitments were $287.6 million, principally for Prologis China Logistics Venture.

Assets Held for Sale or Contrib

Assets Held for Sale or Contribution	12 Months Ended
	Dec. 31, 2022
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, 2022 and 2021. 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): 2022 2021 Number of operating properties 21 14 Square feet 4,061 5,486 Total assets held for sale or contribution $ 531,257 $ 669,688 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 4,536 $ 10,631

Other Assets and Other Liabilit

Other Assets and Other Liabilities	12 Months Ended
	Dec. 31, 2022
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): 2022 2021 Acquired lease intangibles (1) $ 1,183,006 $ 552,517 Lease right-of-use assets (2) 735,430 459,364 Rent leveling 715,679 578,960 Leasing commissions 650,127 520,778 Accounts receivable 377,996 424,240 Prepaid assets 239,483 153,591 Derivative assets 227,236 91,047 Value added taxes receivable 143,317 133,034 Fixed assets 119,897 118,044 Other notes receivable 116,537 35,970 Management contracts 11,048 12,282 Deferred income taxes 5,732 8,926 Other 276,011 223,701 Total other assets $ 4,801,499 $ 3,312,454 Acquired lease intangibles (1) $ 2,373,050 $ 198,894 Lease liabilities (2) 638,811 448,445 Tenant security deposits 419,409 373,432 Unearned rents 305,299 164,669 Environmental liabilities 209,935 86,920 Deferred income taxes 99,757 75,007 Indemnification liability 44,356 44,416 Deferred income 24,481 21,699 Value added taxes payable 15,160 17,556 Derivative liabilities 6,682 9,675 Liabilities associated with assets held for sale or contribution 4,536 10,631 Other 305,033 324,845 Total other liabilities $ 4,446,509 $ 1,776,189 (1) Included in acquired lease intangible assets and liabilities were $832.5 million of intangible assets and $2.3 billion of intangible liabilities from the Duke Transaction, respectively. These assets and liabilities will be amortized over the terms of the respective leases with a weighted average remaining lease term of 64 months. See Note 3 for more information. (2) 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, 2022 (in thousands): Amortization Expense Net Increase to Rental Revenues 2023 $ 421,196 $ 479,339 2024 323,562 343,066 2025 257,560 231,108 2026 202,120 157,520 2027 152,028 112,213 Thereafter 376,559 234,017 Total $ 1,733,025 $ 1,557,263

Debt

Debt	12 Months Ended
	Dec. 31, 2022
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): 2022 2021 Weighted Average Amount Weighted Average Amount Interest Rate (1) Years (2) Outstanding (3) Interest Rate (1) Years (2) Outstanding (3) Credit facilities (4) 4.2% 2.8 $ 1,538,461 0.8% 1.6 $ 491,393 Senior notes (4) (5) 2.3% 10.3 19,786,253 1.7% 11.6 14,981,690 Term loans and unsecured other (4) 2.3% 4.9 2,106,592 0.5% 4.2 1,825,195 Secured mortgage (4) (6) 3.0% 4.3 444,655 5.1% 4.7 416,776 Total 2.5% 9.2 $ 23,875,961 1.6% 10.4 $ 17,715,054 (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 years 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: 2022 2021 Weighted Average Interest Rate Amount Outstanding % of Total Weighted Average Interest Rate Amount Outstanding % of Total British pound sterling 2.1 % $ 1,228,483 5.1 % 2.1 % $ 1,376,807 7.8 % Canadian dollar 4.5 % 814,491 3.4 % 2.7 % 283,773 1.6 % Euro 1.3 % 7,991,301 33.5 % 1.0 % 7,408,407 41.8 % Japanese yen 1.0 % 3,308,009 13.9 % 0.9 % 2,878,542 16.2 % U.S. dollar 3.6 % 10,533,677 44.1 % 2.6 % 5,767,525 32.6 % Total 2.5 % $ 23,875,961 100.0 % 1.6 % $ 17,715,054 100.0 % (4) Through the Duke Transaction, we assumed $4.2 billion of debt with a weighted average stated interest rate of 2.3% and 4.9% at fair value consisting of $2.9 billion of senior notes, a $746.4 million line of credit, a $501.2 million term loan and $34.2 million of secured mortgage debt. We paid down the balance on Duke’s line of credit subsequent to closing the acquisition. (5) Senior notes are due from February 2024 to June 2061 with effective interest rates ranging from 0.3% to 5.3% at December 31, 2022. (6) Secured mortgage debt is due from April 2023 to September 2033 with effective interest rates ranging from 0.4% to 7.0 % at December 31, 2022. The debt was principally secured by 21 operating properties, two properties under development, one prestabilized property, two other real estate investments and one land parcel with an aggregate undepreciated cost of $1.3 billion at December 31, 2022. Credit Facilities In June 2022, we terminated our global senior credit facility (the “2019 Global Facility”) and entered into the 2022 Global Facility with a borrowing capacity of up to $3.0 billion (subject to currency fluctuations). We also upsized our second global senior credit facility (the “2021 Global Facility”), increasing its borrowing capacity to $2.0 billion (subject to currency fluctuations). We may draw on both facilities in British pounds sterling, Canadian dollars, euro, Japanese yen, Mexican pesos and U.S. dollars on a revolving basis. During the recast of both facilities, we modified the base rate of the aggregate lender commitments in U.S. dollars from the U.S. dollar London Inter-bank Offered Rate to the Secured Overnight Financing Rate. The 2021 Global Facility is scheduled to initially mature in April 2024 and the 2022 Global Facility in June 2026; however, we can extend the maturity date for each facility by six months on two occasions, subject to the payment of extension fees. We have the ability to increase the 2021 Global Facility to $2.5 billion and the 2022 Global Facility to $4.0 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 $ 417.1 75.0 $ 568.7 July 2024 We refer to the 2021 Global Facility, the 2022 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. The following table summarizes information about our Credit Facility activity and available liquidity (dollars in millions): 2022 2021 2020 Credit Facility activity for the years ended December 31: Weighted average daily interest rate 1.7 % 1.3 % 1.1 % Weighted average daily borrowings $ 519 $ 60 $ 109 Maximum borrowings outstanding at any month-end $ 1,538 $ 491 $ 727 Available liquidity at December 31: Aggregate lender commitments Credit Facilities $ 5,441 $ 4,940 $ 4,119 Less: Borrowings outstanding 1,538 491 172 Outstanding letters of credit 38 7 24 Current availability $ 3,865 $ 4,442 $ 3,923 Available term loans - - 250 Cash and cash equivalents 278 556 598 Total liquidity $ 4,143 $ 4,998 $ 4,771 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 Years Maturity Dates January £ 60,000 $ 80,932 2.1% 20.0 December 2041 February (2) € 1,550,000 $ 1,768,240 1.0% 8.5 February 2024 – 2034 July ¥ 30,964,500 $ 226,588 1.4% 15.5 July 2027 – 2042 September (2) $ 650,000 $ 650,000 4.6% 10.3 January 2033 November C$ 500,000 $ 362,511 5.3% 8.2 January 2031 December ¥ 24,200,000 $ 177,560 1.8% 13.4 December 2027 – 2037 Total $ 3,265,831 2.3% 9.8 (1) The exchange rate used to calculate into U.S. dollars was the spot rate at the settlement date. (2) A portion of the net proceeds from the issuance of these notes were used to finance green projects eligible under our green bond framework. On October 6, 2022, we completed an exchange offer and consent solicitation for nine series of Duke’s senior notes for an aggregate amount of $3.4 billion, with $3.2 billion, or 96%, of the aggregate principal amount being validly tendered for exchange. The validly tendered senior notes were exchanged for notes issued by the OP. As a result of the consent solicitation, we have no separate remaining financial reporting obligations or financial covenants associated with the senior notes assumed in the Duke Transaction. All other terms of the assumed Duke senior notes remained substantially the same. Early Extinguishment of Debt We repurchased, redeemed 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 $ 20.2 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 also included the extinguishment of debt assumed in the Liberty Transaction and 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 2022 Amount Outstanding at 2022 Amount Outstanding at 2021 Interest Rate Maturity Date Borrowing Currency USD USD USD 2015 Canadian (1) Term Loan CAD December 2015 $ - $ 134,173 CDOR + 0.9% February 2023 March 2017 Yen Term Loan JPY March 2017 ¥ 12,000,000 $ 90,994 90,994 104,243 0.9% and 1.0% March 2027 – 2028 October 2017 Yen Term Loan JPY October 2017 ¥ 10,000,000 $ 75,828 75,828 86,869 0.9% October 2032 December 2018 Yen Term Loan JPY December 2018 ¥ 20,000,000 $ 151,656 151,656 173,738 1.2% and TIBOR + 0.7% December 2031 – June 2033 January 2019 Yen Term Loan JPY January 2019 ¥ 15,000,000 $ 113,742 113,742 130,304 TIBOR + 0.5% to 0.6% January 2028 – 2030 March 2019 Yen Term Loan JPY March 2019 ¥ 85,000,000 $ 644,540 644,540 738,388 TIBOR + 0.4% March 2026 June 2022 Yen Term Loan JPY June 2022 ¥ 25,000,000 $ 189,570 189,570 - 1.1% and 1.2% June 2032 - 2034 2022 Canadian Term Loan (1) CAD August 2022 C$ 300,000 $ 221,593 221,593 - CDOR + spread August 2025 2022 U.S. Dollar Term Loan (2) USD October 2022 $ 500,000 $ 500,000 500,000 - SOFR + 0.1% March 2025 December 2022 Yen Term Loan JPY December 2022 ¥ 15,000,000 $ 113,742 113,742 - 1.4% December 2033 Subtotal 2,101,665 1,367,715 Debt issuance costs, net (5,007 ) (5,169 ) Total term loans $ 2,096,658 $ 1,362,546 (1) In July 2022, we paid down our existing term loan in Canada of CAD $170.5 million ($133.5 million) and entered into a new term loan in Canada (“2022 Canadian Term Loan”) for CAD $300.0 million ($221.6 million at December 31, 2022), bearing interest at the Canada Dollar Offered Rate (“CDOR”) plus a spread over the applicable benchmark. We can extend the maturity date on the 2022 Canadian Term Loan by one year on two occasions, subject to the payment of extension fees. As the CDOR interest rate will transition to the Canadian Overnight Repo Rate Average prior to June 30, 2024, we anticipate modifying the interest rate on this loan prior to this transition and do not expect it to have a material impact on our Consolidated Financial Statements (2) This term loan was acquired in the Duke Transaction. 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. This loan matured in 2022. Long-Term Debt Maturities Scheduled principal payments due on our debt for each year through the period ended December 31, 2027, and thereafter were as follows at December 31, 2022 (in thousands): Unsecured Credit Senior Term Loans Secured Maturity Facilities Notes and Other Mortgage Total 2023 (1) $ - $ - $ - $ 32,940 $ 32,940 2024 (2) 486,795 319,980 - 95,379 902,154 2025 (3) - 37,914 722,711 146,793 907,418 2026 (4) 1,051,666 1,308,179 644,605 68,434 3,072,884 2027 - 1,746,859 54,348 4,156 1,805,363 Thereafter - 16,949,473 688,869 89,135 17,727,477 Subtotal 1,538,461 20,362,405 2,110,533 436,837 24,448,236 Unamortized premiums (discounts), net - (490,968 ) 1,066 8,766 (481,136 ) Unamortized debt issuance costs, net - (85,184 ) (5,007 ) (948 ) (91,139 ) Total $ 1,538,461 $ 19,786,253 $ 2,106,592 $ 444,655 $ 23,875,961 (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 2024 maturities is the 2021 Global Facility and Yen Credit Facility that can be extended until 2025. (3) Included in the 2025 maturities is the 2022 Canadian Term Loan that can be extended until 2027. (4) Included in the 2026 maturities is the 2022 Global Facility that can be extended until 2027. Interest Expense The following table summarizes the components of interest expense for the years ended December 31 (in thousands): 2022 2021 2020 Gross interest expense $ 345,398 $ 299,115 $ 348,427 Amortization of debt discounts (premiums), net 6,602 (7,478 ) (6,741 ) Amortization of debt issuance costs, net 17,134 16,134 14,600 Interest expense before capitalization $ 369,134 $ 307,771 $ 356,286 Capitalized amounts (60,097 ) (41,543 ) (41,779 ) Net interest expense $ 309,037 $ 266,228 $ 314,507 Total cash paid for interest, net of amounts capitalized $ 234,131 $ 278,861 $ 309,390 Financial Debt Covenants Our senior notes, term loans and Credit Facilities outstanding at December 31, 2022 were subject to certain financial covenants under their related documents. At December 31, 2022, 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, 2022
Equity [Abstract]
Stockholders' Equity of Prologis, Inc.	NOTE 9. STOCKHOLDERS’ EQUITY OF PROLOGIS, INC. Shares Authorized At December 31, 2022, 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 October 3, 2022, we issued 182.7 million common shares in the Duke Transaction. 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. 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, 2022 and 2021 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, 2022, 2021 and 2020 are presented below. The taxability of dividends paid in 2022 was based on management’s estimates as our tax return for the year ended December 31, 2022 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 2022, 2021 and 2020, 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: 2022 (1) 2021 2020 Common Stock: Ordinary income $ 3.08 $ 2.45 $ 2.12 Qualified dividend 0.02 0.00 0.00 Capital gains 0.06 0.07 0.20 Total distribution $ 3.16 $ 2.52 $ 2.32 Preferred Stock – Series Q: Ordinary income $ 4.16 $ 4.15 $ 3.96 Qualified dividend 0.02 0.01 0.02 Capital gains 0.09 0.11 0.29 Total dividend $ 4.27 $ 4.27 $ 4.27 (1) Taxability for 2022 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, 2022
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 October 3, 2022, we issued 2.1 million common limited partnership units in the OP in the Duke Transaction. On February 4, 2020, we issued 2.3 million common limited partnership units in the OP in the Liberty Transaction. We issued Class A Units in the OP through an acquisition of a portfolio of properties in 2015. The Class A Units generally have the same rights as the existing common limited partnership units of the OP, except that the Class A Units are entitled to a quarterly distribution equal to $0.64665 per unit so long as the common limited partnership units receive a quarterly distribution of at least $0.40 per unit (in the event the common limited partnership units receive a quarterly distribution of less than $0.40 per unit, the Class A Unit distribution would be reduced by a proportionate amount). Class A Units are convertible into common limited partnership units at an initial conversion rate of one-for-one. The conversion rate will be increased or decreased to the extent that, at the time of conversion, the net present value of the distributions paid with respect to the Class A Units are less or more than the distributions paid on common limited partnership units from the time of issuance of the Class A Units until the time of conversion. At December 31, 2022 and 2021, the Class A Units were convertible into 8.0 million

Noncontrolling Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2022
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 2022 2021 2022 2021 2022 2021 2022 2021 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 3,182,858 $ 3,264,337 $ 7,225,438 $ 7,397,195 $ 158,453 $ 147,545 Other consolidated entities (1) various various 134,909 133,201 1,737,311 1,453,236 259,524 162,598 Prologis, L.P. 3,317,767 3,397,538 8,962,749 8,850,431 417,977 310,143 Limited partners in Prologis, L.P. (2)(3) 1,308,044 917,799 - - - - Prologis, Inc. $ 4,625,811 $ 4,315,337 $ 8,962,749 $ 8,850,431 $ 417,977 $ 310,143 (1) Includes 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, 2022 and 2021 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, 2022 and 2021 that were convertible into 8.0 (3) There were limited partnership units in the OP, excluding the Class A Units, that were exchangeable into cash or, at our option, 10.0 million and 8.4 million shares of the Parent’s common stock, at December 31, 2022 and 2021, respectively. Also included are the vested OP Long-Term Incentive Plan Units (“LTIP Units”) associated with our long-term compensation plans of 4.6 million and 4.0 million shares of the Parent’s common stock at December 31, 2022 and 2021, respectively. See further discussion of LTIP Units in Note 12.

Long-Term Compensation

Long-Term Compensation	12 Months Ended
	Dec. 31, 2022
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, 2022 and (iv) annual bonus exchange program. Under all of these components, certain employees may elect to receive their equity award payout either in the form of RSUs or other equity of the Parent or LTIP Units of the OP. At December 31, 2022, we had 33.3 million shares reserved or available for issuance, including 5.7 million shares of common stock to be issued upon vesting of awards previously granted and 21.0 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 2022 – 2024 performance period in January 2022, as discussed in the table below. The 2022 – 2024 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, POP LTIP Units or 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, 2022 , 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): 2022 2021 2020 Risk free interest rate 1.0 % 0.2 % 1.7 % Prologis expected volatility 31.0 % 32.0 % 19.0 % MSCI US REIT Index expected volatility 29.0 % 29.0 % 13.0 % Aggregate fair value $ 30,400 $ 30,300 $ 28,800 Total remaining compensation cost related to the POP at December 31, 2022, was $62.5 million, prior to adjustments for capitalized amounts due to our development activities. The remaining compensation cost will be recognized through 2031, with a weighted average period of 2.8 years. The performance criteria were met for the 2020 – 2022, 2019 – 2021, 2018 – 2020, and 2017 – 2019 performance periods at the end of the initial three-year 2020 – 2022 2019 – 2021 2018 – 2020 2017 – 2019 (1) Performance pool $ 100,000 $ 100,000 $ 100,000 $ 142,133 Common stock shares 53 34 61 443 Restricted stock units 211 134 242 - POP LTIP Units and LTIP Units 623 426 701 930 Average price used to determine number of awards $ 112.74 $ 168.37 $ 99.67 $ 103.56 (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 $75.0 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, 2022 (units in thousands): Unvested RSUs Weighted Average Grant Date Fair Value Balance at January 1, 2022 1,237 $ 87.87 Granted 838 118.05 Vested and distributed (502 ) 96.74 Forfeited (40 ) 121.42 Balance at December 31, 2022 1,533 $ 100.59 The fair value of stock awards granted and vested was $98.9 million and $48.6 million for 2022, respectively, and $74.5 million and $32.6 million for 2021 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, 2022, was $90.9 million, prior to adjustments for capitalized amounts due to our development activities. The remaining compensation cost will be recognized through 2026, 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, 2022 (units in thousands): Unvested LTIP Units Weighted Average Grant Date Fair Value Balance at January 1, 2022 3,317 $ 61.65 Granted 1,831 103.13 Vested LTIP Units (934 ) 90.30 Balance at December 31, 2022 4,214 $ 73.31 The fair value of unit awards granted and vested, excluding POP awards, was $188.8 million and $84.3 million for 2022, respectively, and $86.6 million and $82.2 million for 2021, 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, 2022, was $176.5 million, prior to adjustments for capitalized amounts due to our development activities. The remaining compensation cost will be recognized through 2026, with a weighted average period of 1.4 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 $8.1 million, $5.8 million and $5.9 million for the years ended December 31, 2022, 2021 and 2020, 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, 2022.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2022
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): 2022 2021 2020 Domestic $ 2,423,809 $ 2,208,168 $ 1,030,609 International 1,267,001 1,114,680 716,479 Earnings before income taxes $ 3,690,810 $ 3,322,848 $ 1,747,088 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): 2022 2021 2020 Current income tax expense (benefit): U.S. federal $ (6,645 ) $ 58,906 $ 48,440 International 112,489 103,488 65,720 State and local 16,930 10,542 15,554 Total current income tax expense 122,774 172,936 129,714 Deferred income tax expense (benefit): U.S. federal 3,359 2,895 (2,464 ) International 9,279 (1,573 ) 3,208 Total deferred income tax expense 12,638 1,322 744 Total income tax expense $ 135,412 $ 174,258 $ 130,458 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, 2022, 2021 and 2020, cash paid for income taxes, net of refunds, was $130.0 million, $148.7 million and $100.7 million, respectively. Deferred Income Taxes The deferred income tax expense recognized in 2022, 2021 and 2020 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): 2022 2021 Gross deferred income tax assets: NOL carryforwards $ 229,410 $ 272,713 Basis difference – real estate properties 94,610 99,984 Basis difference – equity investments 17,042 8,462 Section 163(j) interest limitation 2,218 1,599 Capital loss carryforward 6,903 14,238 Other – temporary differences 9,250 10,027 Total gross deferred income tax assets 359,433 407,023 Valuation allowance (295,834 ) (337,587 ) Gross deferred income tax assets, net of valuation allowance 63,599 69,436 Gross deferred income tax liabilities: Basis difference – real estate properties 116,102 104,292 Basis difference – equity investments 40,333 30,276 Other – temporary differences 1,189 949 Total gross deferred income tax liabilities 157,624 135,517 Net deferred income tax liabilities $ 94,025 $ 66,081 At December 31, 2022, we had NOL carryforwards as follows (in thousands): U.S. Europe Mexico Japan Other Gross NOL carryforward $ 68,491 $ 564,972 $ 161,964 $ 62,563 $ 36,810 Tax-effected NOL carryforward 17,415 142,330 51,290 9,258 9,117 Valuation allowance 16,811 137,055 51,290 9,258 9,117 Net deferred tax asset – NOL carryforward $ 604 $ 5,275 $ - $ - $ - Expiration periods 2023 – 2042 2023 – indefinite 2023 – 2033 2023 – 2032 2023 – indefinite The deferred tax asset valuation allowance at December 31, 2022, 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, 2022, 2021 and 2020, 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 2019 and thereafter. Liabilities or any related settlements for uncertain tax positions for the years ended December 31, 2022, 2021 and 2020 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, 2022
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. 2022 2021 2020 Net earnings attributable to common stockholders – Basic $ 3,358,796 $ 2,933,571 $ 1,473,122 Net earnings attributable to exchangeable limited partnership units (1) 92,236 82,092 41,938 Adjusted net earnings attributable to common stockholders – Diluted $ 3,451,032 $ 3,015,663 $ 1,515,060 Weighted average common shares outstanding – Basic 785,675 739,363 728,323 Incremental weighted average effect on exchange of limited partnership units (1) 21,803 20,913 20,877 Incremental weighted average effect of equity awards 4,130 4,486 5,214 Weighted average common shares outstanding – Diluted (2) 811,608 764,762 754,414 Net earnings per share attributable to common stockholders: Basic $ 4.28 $ 3.97 $ 2.02 Diluted $ 4.25 $ 3.94 $ 2.01 Prologis, L.P. 2022 2021 2020 Net earnings attributable to common unitholders $ 3,450,727 $ 3,015,363 $ 1,514,743 Net earnings attributable to Class A Units (34,311 ) (31,758 ) (16,262 ) Net earnings attributable to common unitholders – Basic 3,416,416 2,983,605 1,498,481 Net earnings attributable to Class A Units 34,311 31,758 16,262 Net earnings attributable to exchangeable other limited partnership units 305 300 317 Adjusted net earnings attributable to common unitholders – Diluted $ 3,451,032 $ 3,015,663 $ 1,515,060 Weighted average common partnership units outstanding – Basic 799,153 751,973 740,860 Incremental weighted average effect on exchange of Class A Units 8,026 8,004 8,041 Incremental weighted average effect on exchange of other limited partnership units 299 299 299 Incremental weighted average effect of equity awards of Prologis, Inc. 4,130 4,486 5,214 Weighted average common units outstanding – Diluted (2) 811,608 764,762 754,414 Net earnings per unit attributable to common unitholders: Basic $ 4.28 $ 3.97 $ 2.02 Diluted $ 4.25 $ 3.94 $ 2.01 (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 2022 2021 2020 Class A Units 8,026 8,004 8,041 Other limited partnership units 299 299 299 Equity awards 6,298 6,719 7,798 Prologis, L.P. 14,623 15,022 16,138 Common limited partnership units 13,478 12,610 12,537 Prologis, Inc. 28,101 27,632 28,675

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	12 Months Ended
	Dec. 31, 2022
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 2022 2021 Asset Liability Asset Liability Undesignated derivatives Foreign currency contracts Forwards Brazilian real $ 35 $ 494 $ 664 $ - British pound sterling 29,187 648 5,361 3,492 Canadian dollar 12,074 2 2,856 1,790 Chinese renminbi 657 364 - 550 Euro 51,317 2,801 40,484 136 Japanese yen 34,022 2,344 23,341 - Swedish krona 6,292 - 3,773 201 Designated derivatives Foreign currency contracts Net investment hedges British pound sterling 23,534 - 9,158 2,683 Canadian dollar 24,552 - 5,410 823 Interest rate swaps Cash flow hedges Euro 44,982 - - - U.S. dollar 584 29 - - Total fair value of derivatives $ 227,236 $ 6,682 $ 91,047 $ 9,675 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): 2022 2021 2020 CAD EUR GBP JPY Other Total CAD EUR GBP JPY Other Total CAD EUR GBP JPY Other Total Notional amounts at January 1 ($) 175 749 383 250 105 1,662 163 474 207 252 66 1,162 120 581 178 182 46 1,107 New contracts ($) 172 658 264 181 92 1,367 225 437 308 76 91 1,137 88 1,314 364 154 85 2,005 Matured, expired or settled contracts ($) (64) (806) (298) (100) (116) (1,384) (213) (162) (132) (78) (52) (637) (45) (1,421) (335) (84) (65) (1,950) Notional amounts at December 31 ($) 283 601 349 331 81 1,645 175 749 383 250 105 1,662 163 474 207 252 66 1,162 Weighted average forward rate at December 31 1.29 1.18 1.31 109.79 1.26 1.22 1.20 103.14 1.32 1.23 1.32 102.66 Active contracts at December 31 103 97 90 96 72 86 70 74 58 64 53 59 The following table summarizes the undesignated derivative financial instruments exercised and associated realized and unrealized gains (losses) in Foreign Currency and Derivative Gains (Losses) and Other Income (Expense), Net 2022 2021 2020 Exercised contracts 158 161 173 Realized gains (losses) on the matured, expired or settled contracts $ 145 $ (8 ) $ (6 ) Unrealized gains (losses) on the change in fair value of outstanding contracts $ 39 $ 88 $ (13 ) 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 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 2022 2021 2020 CAD GBP Total CAD GBP Total CAD GBP Total Notional amounts at January 1 ($) 535 432 967 377 135 512 97 387 484 New contracts ($) 964 440 1,404 535 432 967 377 459 836 Matured, expired or settled contracts ($) (965 ) (432 ) (1,397 ) (377 ) (135 ) (512 ) (97 ) (711 ) (808 ) Notional amounts at December 31 ($) 534 440 974 535 432 967 377 135 512 Weighted average forward rate at December 31 1.29 1.28 1.25 1.37 1.31 1.35 Active contracts at December 31 6 4 6 4 6 1 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 2022 2021 2020 EUR USD CAD JPY Total EUR USD Total EUR USD Total Notional amounts at January 1 ($) 165 - - - 165 165 250 415 - - - New contracts ($) 1,004 400 184 104 1,692 - - - 165 1,500 1,665 Matured, expired or settled contracts ($) (722 ) (250 ) (184 ) (104 ) (1,260 ) - (250 ) (250 ) - (1,250 ) (1,250 ) Notional amounts at December 31 ($) 447 150 - - 597 165 - 165 165 250 415 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): 2022 2021 2020 British pound sterling $ 1,237 $ 624 $ 842 Canadian dollar $ 370 $ - $ - The following table summarizes the unrealized gains (losses) in Foreign Currency and Derivative Gains (Losses) and Other Income (Expense), Net 2022 2021 2020 Unrealized gains (losses) on the unhedged portion $ 44 $ 81 $ (139 ) 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) 2022 2021 2020 Derivative net investment hedges $ 95,012 $ 9,792 $ (4,301 ) Debt designated as nonderivative net investment hedges 133,135 (832 ) (62,263 ) Cumulative translation adjustment 145,258 296,969 (128,109 ) Total foreign currency translation gains (losses), net $ 373,405 $ 305,929 $ (194,673 ) Cash flow hedges (1)(2) $ 45,837 $ 9,098 $ (11,269 ) Our share of derivatives from unconsolidated co-investment ventures 25,802 8,444 (2,848 ) Total unrealized gains (losses) on derivative contracts, net $ 71,639 $ 17,542 $ (14,117 ) Total change in other comprehensive income (loss) $ 445,044 $ 323,471 $ (208,790 ) (1) We estimate an additional expense of $13.9 million will be reclassified to Interest Expense over the next 12 months from December 31, 2022, 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, 2022 and 2021, 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, 2022 and 2021 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, 2022 and 2021, 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, 2022 and 2021, 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, 2022 and 2021, 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 2022 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): 2022 2021 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 1,538,461 $ 1,538,461 $ 491,393 $ 491,429 Senior notes 19,786,253 16,604,241 14,981,690 15,151,781 Term loans and unsecured other 2,106,592 2,092,264 1,825,195 1,835,569 Secured mortgage 444,655 420,964 416,776 437,215 Total $ 23,875,961 $ 20,655,930 $ 17,715,054 $ 17,915,994

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
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, 2022 and 2021, we had $456.0 million and $394.6 million, respectively, outstanding under such arrangements. We may be required under capital commitments or we may choose to make additional capital contributions to certain of our unconsolidated entities, representing our proportionate ownership interest, should additional capital contributions be necessary to fund development or acquisition costs, repayment of debt or 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, 2022
Segment Reporting [Abstract]
Business Segments	NOTE 17. BUSINESS SEGMENTS Our current business strategy includes two operating segments: Real Estate (Rental Operations and Development) and Strategic Capital. We generate revenues, earnings, net operating income and cash flows through our segments, as follows: • Real Estate Segment. 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. The Real Estate 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 and leasing expertise of our local teams; and (iii) our customer relationships. • Strategic Capital Segment. 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, 2022 2021 2020 Revenues: Real estate segment: U.S. $ 4,726,072 $ 3,967,180 $ 3,600,335 Other Americas 92,751 98,620 87,830 Europe 56,731 55,533 68,801 Asia 58,553 47,357 44,782 Total real estate segment 4,934,107 4,168,690 3,801,748 Strategic capital segment: U.S. 215,416 171,761 354,825 Other Americas 82,462 58,655 37,696 Europe 644,832 249,600 145,016 Asia 96,875 110,734 99,450 Total strategic capital segment 1,039,585 590,750 636,987 Total revenues 5,973,692 4,759,440 4,438,735 Segment net operating income: Real estate segment: U.S. (1) 3,555,627 2,966,498 2,679,685 Other Americas 67,552 72,424 64,473 Europe 24,738 31,163 43,531 Asia 40,116 34,854 31,986 Total real estate segment 3,688,033 3,104,939 2,819,675 Strategic capital segment: U.S. (1) 59,561 59,991 237,271 Other Americas 63,464 47,247 24,923 Europe 557,676 203,779 99,504 Asia 55,528 72,562 57,248 Total strategic capital segment 736,229 383,579 418,946 Total segment net operating income 4,424,262 3,488,518 3,238,621 Reconciling items: General and administrative expenses (331,083 ) (293,167 ) (274,845 ) Depreciation and amortization expenses (1,812,777 ) (1,577,942 ) (1,561,969 ) Gains on dispositions of development properties and land, net 597,745 817,017 464,942 Gains on other dispositions of investments in real estate, net 589,391 772,570 252,195 Operating income 3,467,538 3,206,996 2,118,944 Earnings from unconsolidated entities, net 310,872 404,255 297,370 Interest expense (309,037 ) (266,228 ) (314,507 ) Foreign currency and derivative gains (losses) and other income (expense), net 241,621 165,278 (166,429 ) Losses on early extinguishment of debt, net (20,184 ) (187,453 ) (188,290 ) Earnings before income taxes $ 3,690,810 $ 3,322,848 $ 1,747,088 December 31, 2022 2021 Segment assets: Real estate segment: U.S. $ 71,858,560 $ 44,136,140 Other Americas 1,831,956 1,148,371 Europe 1,952,160 1,837,800 Asia 1,031,135 965,854 Total real estate segment 76,673,811 48,088,165 Strategic capital segment (2) U.S. 10,817 11,984 Europe 25,280 25,280 Asia 231 299 Total strategic capital segment 36,328 37,563 Total segment assets 76,710,139 48,125,728 Reconciling items: Investments in and advances to unconsolidated entities 9,698,898 8,610,958 Assets held for sale or contribution 531,257 669,688 Cash and cash equivalents 278,483 556,117 Other assets 678,671 523,729 Total reconciling items 11,187,309 10,360,492 Total assets $ 87,897,448 $ 58,486,220 (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, 2022
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, 2022, 2021 and 2020 included the following: • We completed the Duke Transaction on October 3, 2022 for $23.2 billion through the issuance of equity and the assumption of debt. 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 these transactions. Additionally, in 2020, USLV assumed $341.8 million debt as part of the IPT Transaction. See Note 4 for more information on this transaction. • 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 any new leases, renewals and modifications of $162.5 million in 2022, $71.4 million in 2021 and $47.8 million in 2020 for both assets and liabilities. • We capitalized $34.9 million, $25.6 million and $22.4 million in 2022, 2021 and 2020, respectively, of equity-based compensation expense. • We received $597.5 million, $886.1 million and $433.7 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 2022, 2021 and 2020, respectively, as disclosed in Note 5. Included in 2022 was the equity interests we received in a newly formed other venture from the contribution of real estate properties. Included in 2020 was the equity interests we received in PCCLF for the contribution of real estate properties from Prologis China Logistics Venture II, LP and Prologis China Logistics Venture I, LP. • We issued 0.3 million, 0.8 million and 0.7 million shares in 2022, 2021 and 2020, respectively, of the Parent’s common stock upon redemption of an equal number of common limited partnership units in the OP. • We reinvested distributions from unconsolidated co-investment ventures of $64.7 million and $45.6 million and increased our ownership in 2022 and 2020, respectively. • 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 . • 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, 2022
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, 2022: Rental revenues $ 1,076,861 $ 1,093,452 $ 1,151,846 $ 1,591,012 Total revenues $ 1,219,128 $ 1,252,080 $ 1,750,892 $ 1,751,592 Rental expenses $ (275,674 ) $ (270,465 ) $ (284,707 ) $ (374,892 ) Gains on dispositions of development properties and land, net $ 210,206 $ 105,802 $ 74,678 $ 207,059 Gains on other dispositions of investments in real estate, net $ 584,835 $ - $ 1,019 $ 3,537 Operating income $ 1,205,802 $ 533,317 $ 914,970 $ 813,449 Consolidated net earnings $ 1,219,722 $ 646,436 $ 1,069,174 $ 620,066 Net earnings attributable to common stockholders $ 1,149,254 $ 609,855 $ 1,013,933 $ 585,754 Net earnings per share attributable to common stockholders – Basic (1) $ 1.55 $ 0.82 $ 1.37 $ 0.64 Net earnings per share attributable to common stockholders – Diluted (1)(2) $ 1.54 $ 0.82 $ 1.36 $ 0.63 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 Prologis, L.P. 2022: Rental revenues $ 1,076,861 $ 1,093,452 $ 1,151,846 $ 1,591,012 Total revenues $ 1,219,128 $ 1,252,080 $ 1,750,892 $ 1,751,592 Rental expenses $ (275,674 ) $ (270,465 ) $ (284,707 ) $ (374,892 ) Gains on dispositions of development properties and land, net $ 210,206 $ 105,802 $ 74,678 $ 207,059 Gains on other dispositions of investments in real estate, net $ 584,835 $ - $ 1,019 $ 3,537 Operating income $ 1,205,802 $ 533,317 $ 914,970 $ 813,449 Consolidated net earnings $ 1,219,722 $ 646,436 $ 1,069,174 $ 620,066 Net earnings attributable to common unitholders $ 1,181,525 $ 627,286 $ 1,042,664 $ 599,252 Net earnings per unit attributable to common unitholders – Basic (1) $ 1.55 $ 0.82 $ 1.37 $ 0.64 Net earnings per unit attributable to common unitholders – Diluted (1) $ 1.54 $ 0.82 $ 1.36 $ 0.63 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 (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, 2022
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, 2022 (In thousands of U.S. dollars, as applicable) Initial Cost to Prologis Costs Capitalized Gross Amounts at Which Carried at December 31, 2022 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 U.S. Markets Atlanta 165 704,450 2,108,059 498,688 725,711 2,585,486 3,311,197 (363,505 ) 1994-2022 Austin 10 12,783 52,335 10,061 12,837 62,342 75,179 (29,336 ) 1994-2015 Baltimore/Washington D.C. 99 (d) 481,309 980,954 275,881 494,517 1,243,627 1,738,144 (215,077 ) 1995-2022 Central PA 34 289,391 1,043,676 155,465 306,976 1,181,556 1,488,532 (241,811 ) 2002-2022 Central Valley 39 244,099 530,993 941,345 264,445 1,451,992 1,716,437 (265,716 ) 1999-2022 Charlotte 45 112,232 346,000 102,031 124,965 435,298 560,263 (84,744 ) 1994-2020 Chicago 237 1,093,201 3,153,363 627,377 1,119,733 3,754,208 4,873,941 (784,152 ) 1995-2022 Cincinnati 60 157,634 830,881 137,309 165,844 959,980 1,125,824 (93,837 ) 1996-2022 Columbus 33 65,940 369,748 77,539 68,889 444,338 513,227 (104,224 ) 1996-2022 Dallas/Ft. Worth 185 645,832 2,281,203 558,842 668,061 2,817,816 3,485,877 (536,780 ) 1994-2022 Denver 38 115,979 295,412 178,682 115,515 474,558 590,073 (154,568 ) 1993-2022 Houston 194 506,818 2,226,942 391,161 551,473 2,573,448 3,124,921 (358,694 ) 1993-2022 Indianapolis 37 91,337 600,850 77,308 92,575 676,920 769,495 (75,423 ) 1995-2022 Jacksonville 1 - 2,892 273 - 3,165 3,165 (3,015 ) 2011 Las Vegas 57 175,201 345,091 297,766 159,801 658,257 818,058 (129,319 ) 1996-2021 Lehigh Valley 65 1,205,621 2,279,491 398,406 1,282,491 2,601,027 3,883,518 (272,175 ) 2004-2022 Louisville 12 48,140 188,696 94,624 50,392 281,068 331,460 (80,928 ) 2005-2022 Nashville 45 202,495 595,616 198,166 204,864 791,413 996,277 (79,036 ) 1995-2022 New Jersey/New York City 156 (d) 2,724,856 3,808,098 783,582 2,759,509 4,557,027 7,316,536 (784,219 ) 1996-2022 Orlando 98 (d) 284,646 880,549 180,716 299,608 1,046,303 1,345,911 (156,640 ) 1994-2022 Phoenix 51 154,063 394,219 375,847 184,342 739,787 924,129 (121,859 ) 1992-2022 Portland 41 (e) 130,433 276,956 221,257 183,932 444,714 628,646 (75,642 ) 2006-2022 Raleigh Durham 37 107,899 407,505 20,028 111,839 423,593 535,432 (15,973 ) 2020-2022 Reno 17 25,389 142,279 119,361 26,762 260,267 287,029 (94,815 ) 1994-2021 San Antonio 20 (d) 25,735 95,828 47,052 25,957 142,658 168,615 (69,678 ) 1994-2016 San Francisco Bay Area 233 1,071,018 1,670,174 577,839 1,082,106 2,236,925 3,319,031 (875,417 ) 1993-2022 Savannah 23 204,408 473,995 32,404 204,408 506,399 710,807 (5,312 ) 2022 Seattle 109 850,208 1,434,654 377,278 876,132 1,786,008 2,662,140 (306,484 ) 2008-2022 South Florida 174 (d) 1,329,156 2,117,967 344,476 1,342,860 2,448,739 3,791,599 (328,733 ) 1994-2022 Southern California 416 (d)(e) 6,127,705 8,115,196 1,842,050 6,373,646 9,711,305 16,084,951 (1,828,182 ) 2005-2022 Tampa 26 92,357 244,738 25,477 98,472 264,100 362,572 (10,963 ) 2020-2022 Subtotal U.S. Markets: 2,757 19,280,335 38,294,360 9,968,291 19,978,662 47,564,324 67,542,986 (8,546,257 ) Other Americas Markets Brazil 5 - 53,276 17 - 53,293 53,293 (779 ) 2022 Canada 34 (d) 248,162 373,220 223,615 255,888 589,109 844,997 (160,947 ) 2008-2022 Mexico 1 730 2,287 3,224 736 5,505 6,241 (1,865 ) 2011 Subtotal Other Americas Markets: 40 248,892 428,783 226,856 256,624 647,907 904,531 (163,591 ) Europe Markets Belgium 3 16,011 4,776 - 16,011 4,776 20,787 (204 ) 2022 Germany 4 47,837 7,068 35,479 52,812 37,572 90,384 (5,903 ) 2011-2022 Hungary 1 1,845 - 5,983 1,845 5,983 7,828 (106 ) 2022 Slovakia 2 2,926 - 12,652 3,239 12,339 15,578 (391 ) 2021 Spain 5 10,862 34,504 13,340 9,969 48,737 58,706 (17,990 ) 2011-2019 United Kingdom 2 48,510 3,291 10,347 48,919 13,229 62,148 (3,412 ) 2019-2021 Subtotal Europe Markets: 17 127,991 49,639 77,801 132,795 122,636 255,431 (28,006 ) Asia Markets Japan 6 20,380 152,367 20,618 20,380 172,985 193,365 (3,024 ) 2019-2022 Singapore 5 - 137,592 4,890 - 142,482 142,482 (74,846 ) 2011 Subtotal Asia Markets: 11 20,380 289,959 25,508 20,380 315,467 335,847 (77,870 ) Total Operating Properties 2,825 19,677,598 39,062,741 10,298,456 20,388,461 48,650,334 69,038,795 (8,815,724 ) PROLOGIS, INC. AND PROLOGIS, L.P. SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION DECEMBER 31, 2022 (In thousands of U.S. dollars, as applicable) Initial Cost to Prologis Costs Capitalized Gross Amounts at Which Carried at December 31, 2022 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 2 21,712 - 59,023 21,712 59,023 80,735 Austin 1 6,721 - 46,522 6,721 46,522 53,243 Baltimore/Washington D.C. 1 14,784 - 22,364 14,784 22,364 37,148 Central PA 1 7,810 - 25,226 7,810 25,226 33,036 Central Valley 2 10,174 - 44,198 10,174 44,198 54,372 2022 Charlotte 1 8,841 - 14,848 8,841 14,848 23,689 Chicago 9 116,955 967 163,188 116,955 164,155 281,110 2022 Cincinnati 1 2,536 - 11,861 2,536 11,861 14,397 Dallas/Ft. Worth 11 83,061 - 97,625 83,061 97,625 180,686 Houston 1 17,165 - 57,237 17,165 57,237 74,402 Indianapolis 2 8,440 17,058 32,671 8,440 49,729 58,169 Las Vegas 3 23,262 - 60,375 23,262 60,375 83,637 2022 Lehigh Valley 2 48,636 - 76,923 48,636 76,923 125,559 Nashville 3 10,264 - 22,670 10,264 22,670 32,934 New Jersey/New York City 2 51,603 - 8,216 51,603 8,216 59,819 Orlando 5 19,490 - 71,228 19,490 71,228 90,718 2022 Phoenix 5 23,600 - 26,774 23,600 26,774 50,374 Reno 3 19,126 - 64,128 19,126 64,128 83,254 2022 San Francisco Bay Area 5 37,507 20,605 52,718 37,507 73,323 110,830 2022 Seattle 3 62,649 14,746 30,980 62,649 45,726 108,375 South Florida 6 63,291 - 59,613 63,291 59,613 122,904 2022 Southern California 11 623,788 70,248 168,087 623,788 238,335 862,123 2022 Subtotal U.S. Markets: 80 1,281,415 123,624 1,216,475 1,281,415 1,340,099 2,621,514 Other Americas Markets Canada 5 65,936 - 16,302 65,936 16,302 82,238 Mexico 13 64,308 - 137,871 64,308 137,871 202,179 2022 Subtotal Other Americas Markets: 18 130,244 - 154,173 130,244 154,173 284,417 Europe Markets Belgium 1 9,096 - 11,063 9,096 11,063 20,159 Czech Republic 2 5,338 - 11,574 5,338 11,574 16,912 France 2 5,260 - 21,730 5,260 21,730 26,990 Germany 3 20,134 - 49,748 20,134 49,748 69,882 Hungary 2 5,708 - 18,138 5,708 18,138 23,846 2022 Italy 2 3,637 - 17,549 3,637 17,549 21,186 2022 Netherlands 3 13,052 - 50,091 13,052 50,091 63,143 Poland 2 8,312 - 21,206 8,312 21,206 29,518 Slovakia 2 4,490 - 26,313 4,490 26,313 30,803 2022 Spain 2 17,535 - 12,198 17,535 12,198 29,733 Sweden 3 45,796 - 22,794 45,796 22,794 68,590 U.K. 7 198,265 - 126,289 198,265 126,289 324,554 Subtotal Europe Markets: 31 336,623 - 388,693 336,623 388,693 725,316 Asia Markets Japan 7 162,644 - 418,263 162,644 418,263 580,907 2022 Subtotal Asia Markets: 7 162,644 - 418,263 162,644 418,263 580,907 Total Development Portfolio 136 1,910,926 123,624 2,177,604 1,910,926 2,301,228 4,212,154 GRAND TOTAL 2,961 21,588,524 39,186,365 12,476,060 22,299,387 50,951,562 73,250,949 (8,815,724 ) 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, 2022 (in thousands): Total operating properties and development portfolio per Schedule III $ 73,250,949 (g) Land 3,338,121 Other real estate investments (i) 5,034,326 Total per Consolidated Balance Sheets $ 81,623,396 (i) Other real estate investments includes n on-strategic real estate assets, primarily acquired from the Duke Transaction, that we do not intend to operate long-term at December 31, 2022. (b) The aggregate cost for federal tax purposes at December 31, 2022, of our real estate assets was approximately $60 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 40 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, 2022 (in thousands): Total accumulated depreciation per Schedule III $ 8,815,724 (g) Accumulated depreciation on other real estate investments 220,361 Total per Consolidated Balance Sheets $ 9,036,085 (d) Properties with an aggregate undepreciated cost of $631.3 million secure $249.3 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 $8.9 million are secured by assessments (similar to property taxes) on various underlying real estate properties with an aggregate undepreciated cost of $580.3 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): 2022 2021 2020 Real estate assets: Balance at beginning of year $ 47,183,100 $ 45,390,230 $ 33,157,100 Acquisitions of and improvements to operating properties, development activity and net effect of changes in foreign exchange rates and other 25,281,173 3,351,730 13,985,898 Basis of operating properties disposed of (445,558 ) (1,589,527 ) (1,045,128 ) Change in the development portfolio balance, including the acquisition of properties 1,482,814 846,729 13,345 Assets transferred to held for sale and contribution (250,580 ) (816,062 ) (720,985 ) Balance at end year $ 73,250,949 $ 47,183,100 $ 45,390,230 Accumulated depreciation: Balance at beginning of year $ 7,451,382 $ 6,370,341 $ 5,294,212 Depreciation expense 1,357,180 1,143,758 1,112,075 Balances retired upon disposition of operating properties and net effect of changes in foreign exchange rates and other 9,090 (42,483 ) (35,083 ) Assets transferred to held for sale and contribution (1,928 ) (20,234 ) (863 ) Balance at end of year $ 8,815,724 $ 7,451,382 $ 6,370,341

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
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 the entity, 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) and Other Income (Expense), 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 the fair value of most of our real estate acquisitions is 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. The difference between the cost and the estimated fair value (excess or bargain consideration) 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 intend to sell in the next twelve months 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, defined as rental revenues less rental expenses, 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 in-place rents that are higher or lower than our estimate of current market rents in each 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 which would be foregone during a reasonable lease-up period, 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 when a property that was developed has been completed for one year, or is 90% occupied. 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 40 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. The weighted average lease term for leases that commenced during 2022, based on square feet, was 69 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. 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 operating income from 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 operating income from 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 operating income from 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 or cash flow hedges are recorded in AOCI/L AOCI/L Foreign Currency and Derivative Gains (Losses) and Other Income (Expense), 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 Foreign Currency and Derivative Gains (Losses) and Other Income (Expense) , Net . 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”) directly from third-party investors in the co-investment ventures based on the cumulative returns of the venture over a three-year period or the stabilization of individual development projects owned by the venture. 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 from third parties 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. For deferred gains from partial sales recorded prior to the adoption of the revenue recognition standard, we continue to recognize these gains over the lives of the underlying real estate properties or at the time of disposition to a third party. If our ownership interest in an unconsolidated entity decreases and the decrease is expected to be permanent, we recognize the amounts relating to previously deferred gains to coincide with our new ownership interest. 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 co-investment ventures 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 if 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 and leasing personnel, utilities, repairs and maintenance, property insurance, real estate taxes and the other costs of managing our properties. 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 Segment. These individuals perform the property-level management and leasing of the properties in our owned and managed portfolio, which includes 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, to qualify as a REIT, we are required to distribute at least 90% of our taxable income, and meet certain income, asset and stockholder tests. REITs which meet these certain income, asset and stockholder tests are generally not required to pay federal income taxes if they distribute 100% of their taxable income. 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 tax 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 relative 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 Statement s 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.

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2022
Schedule of Purchase Price including Transaction Costs Allocated to Assets Acquired and Liabilities Assumed	Under acquisition accounting, the total cost or total consideration exchanged is allocated to the real estate properties and related lease intangibles on a relative fair value basis. As the fair value of the properties acquired exceeded the purchase price, we allocated the bargain consideration at a property-level based on the relative fair value of the property in comparison to the total portfolio. All other assets acquired and liabilities assumed, including debt, and real estate assets that we intend to sell in the next twelve months were recorded at fair value. The total purchase price, including transaction costs, was allocated as follows (in millions): Net investments in real estate $ 24,908 Cash and other assets 441 Debt (4,162 ) Intangible liabilities, net of intangible assets (1) (1,461 ) Accounts payable, accrued expenses and other liabilities (708 ) Noncontrolling interests (2 ) Total purchase price, including transaction costs $ 19,016 (1) Intangible assets of $832.5 million and intangible liabilities of $2.3 billion were included within Other Assets and Other Liabilities , respectively, on the Consolidated Balance Sheets. The acquired lease intangibles from the Duke Transaction will be amortized over the terms of the respective leases with a weighted average remaining lease term of 64 months
Duke Transaction [Member]
Schedule of Aggregate Equity Consideration	The aggregate equity consideration is calculated below (in millions, except price per share): Number of Prologis shares and units issued upon conversion of Duke's shares and units at October 3, 2022 184.80 Multiplied by price of Prologis' common stock on September 30, 2022 $ 101.60 Fair value of Prologis shares and units issued $ 18,776
Liberty Transaction [Member]
Schedule of Aggregate Equity Consideration	The aggregate equity consideration is calculated below (in millions, except price per share): Number of Prologis shares and units issued upon conversion of Liberty shares and units at February 4, 2020 109.01 Multiplied by 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 including Transaction Costs Allocated to Assets Acquired and Liabilities Assumed	The total purchase price allocation for Liberty was 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, 2022
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 2022 (1) 2021 2022 (1) 2021 2022 (1) 2021 Operating properties: Buildings and improvements 597,362 444,413 2,825 2,310 $ 48,650,334 $ 32,159,514 Improved land 20,388,461 12,294,246 Development portfolio, including land costs: Prestabilized 4,874 6,325 15 16 597,553 710,091 Properties under development 44,011 28,638 121 83 3,614,601 2,019,249 Land (2) 3,338,121 2,519,590 Other real estate investments (3) 5,034,326 3,302,500 Total investments in real estate properties 81,623,396 53,005,190 Less accumulated depreciation 9,036,085 7,668,187 Net investments in real estate properties $ 72,587,311 $ 45,337,003 (1) Includes the acquired real estate properties from the Duke Transaction at December 31, 2022. See Note 3 for more information. (2) At December 31, 2022 and 2021, our land was comprised of 7,188 and 6,227 acres, respectively. (3) Included in other real estate investments were: (i) non-strategic real estate assets, primarily acquired from the Duke Transaction, that we do not intend to operate long-term; (ii) land parcels we own and lease to third parties; (iii) non-industrial real estate assets that we generally intend to redevelop into industrial properties; 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 Duke Transaction and Liberty Transaction as discussed in Note 3, for the years ended December 31 (dollars and square feet in thousands): 2022 2021 (1) 2020 (2) Number of operating properties 23 31 150 Square feet 5,169 6,760 21,874 Acres of land 2,218 2,684 830 Acquisition cost of net investments in real estate, excluding other real estate investments $ 1,828,256 $ 2,517,644 $ 3,054,381 Acquisition cost of other real estate investments $ 641,168 $ 525,499 $ 206,084 (1) Included in 2021, is our acquisition of additional ownership interest in certain unconsolidated other ventures that we acquired from our partners and subsequently resulted in the consolidation of 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.
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): 2022 2021 2020 Dispositions of development properties and land, net (1) Number of properties 21 41 41 Square feet 7,676 16,482 14,482 Net proceeds $ 1,398,585 $ 2,629,750 $ 1,693,557 Gains on dispositions of development properties and land, net $ 597,745 $ 817,017 $ 464,942 Other dispositions of investments in real estate, net (2) Number of properties 103 97 61 Square feet 8,718 20,806 10,562 Net proceeds $ 1,271,639 $ 2,536,622 $ 1,264,692 Gains on other dispositions of investments in real estate, net $ 589,391 $ 772,570 $ 252,195 (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.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
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, 2022 (in thousands): 2023 $ 4,404,367 2024 4,221,731 2025 3,800,708 2026 3,231,191 2027 2,578,599 Thereafter 9,452,245 Total $ 27,688,841
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, 2022, with amounts discounted at lease commencement by our incremental borrowing rates to calculate the lease liabilities of our leases (in thousands): 2023 $ 62,061 2024 71,709 2025 56,349 2026 47,443 2027 39,642 Thereafter 1,144,025 Total undiscounted rental payments 1,421,229 Less imputed interest 782,418 Total lease liabilities $ 638,811

Unconsolidated Entities (Tables

Unconsolidated Entities (Tables)	12 Months Ended
	Dec. 31, 2022
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): 2022 2021 Unconsolidated co-investment ventures $ 8,073,927 $ 7,825,455 Other ventures (1) 1,624,971 785,503 Total $ 9,698,898 $ 8,610,958 (1) In 2022, we completed the Duke Transaction and acquired an equity method investment in several other ventures.
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in and Advances to our Unconsolidated Entities	The following table summarizes the key property information, financial position and operating information of our unconsolidated co-investment ventures 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: 2022 2021 2022 2021 2022 (2) 2021 2022 2021 2022 2021 Key property information: Ventures 1 1 2 2 2 2 3 3 8 8 Operating properties 739 732 260 254 989 818 217 203 2,205 2,007 Square feet 123 122 60 56 219 198 89 82 491 458 Financial position: Total assets ($) 12,617 11,619 3,744 3,349 22,502 18,373 9,964 10,746 48,827 44,087 Third-party debt ($) 3,468 3,069 919 1,052 5,315 3,737 3,811 4,157 13,513 12,015 Total liabilities ($) 4,143 3,717 1,011 1,116 7,292 5,619 4,279 4,685 16,725 15,137 Our investment balance ($) (3) 2,398 2,393 1,070 840 3,786 3,712 820 880 8,074 7,825 Our weighted average ownership (4) 26.2 % 27.0 % 41.0 % 40.8 % 31.0 % 30.9 % 15.2 % 15.1 % 27.4 % 26.9 % U.S. Other Americas (1) Europe Asia Total Operating Information: 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 2022 2021 2020 For the years ended: Total revenues ($) 1,182 1,039 946 383 321 278 1,424 1,387 1,208 629 653 584 3,618 3,400 3,016 Net earnings ($) 292 312 169 137 120 91 493 1,070 390 114 160 255 1,036 1,662 905 Our earnings from unconsolidated co-investment ventures, net ($) 79 82 46 47 43 34 150 214 121 19 27 39 295 366 240 (1) PBLV and our other Brazilian joint ventures are combined as one venture for the purpose of this table. (2) In September 2022, PELF acquired a real estate portfolio that primarily included 125 industrial operating properties. (3) 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, 2022 and 2021, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018 ($546.9 million and $559.7 million, respectively); (ii) recording additional costs associated with our investment in the venture ($90.4 million and $96.6 million, respectively); (iii) receivables, principally for fees and promotes ($193.7 million and $149.5 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to NPR, as discussed above. (4) Represents our weighted average ownership interest in all unconsolidated co-investment ventures based on each entity’s contribution of total assets before depreciation, net of other liabilities.
Information About Investments in Co-investment Ventures by Property Funds	The following table summarizes our investments in the individual co-investment ventures at December 31 (dollars in thousands): Ownership Percentage Investment in and Advances to Co-Investment Venture 2022 2021 2022 2021 Prologis Targeted U.S. Logistics Fund, L.P. (“USLF”) 26.2 % 27.0 % $ 2,397,544 $ 2,393,232 FIBRA Prologis (1) 47.9 % 47.3 % 888,710 694,590 Prologis European Logistics Partners (“PELP”) (2) (3) 50.0 % 50.0 % 1,949,002 2,097,332 Prologis European Logistics Fund (“PELF”) (3) 23.8 % 23.8 % 1,837,615 1,605,253 Prologis UK Logistics Venture (“UKLV”) (2) (3) - 15.0 % - 9,243 Nippon Prologis REIT, Inc. (“NPR”) (4) 15.1 % 15.1 % 614,933 684,029 Prologis China Core Logistics Fund, LP (“PCCLF”) 15.5 % 15.3 % 92,863 75,922 Prologis China Logistics Venture I, LP, II, LP and III, LP (“Prologis China Logistics Venture”) (2) 15.0 % 15.0 % 111,906 120,283 Prologis Brazil Logistics Venture (“PBLV”) and other joint ventures (2) 20.0 % 20.0 % 181,354 145,571 Total $ 8,073,927 $ 7,825,455 (1) At December 31, 2022, we owned 489.1 million units of FIBRA Prologis that had a closing price of Ps 55.83 ($2.88) 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 was a $9.2 million outstanding receivable balance that was paid in the second quarter of 2022 (4) At December 31, 2022, we owned 0.4 million units of NPR that had a closing price of ¥308,500 ($2,339) 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, 2022 and 2021, we had receivables from NPR of $161.4 million and $175.2 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 2022 2021 2020 Recurring fees $ 455,385 $ 395,765 $ 318,423 Transactional fees 67,048 78,552 65,804 Promote revenue (1) 503,779 77,199 239,268 Total strategic capital revenues from unconsolidated co-investment ventures (2) $ 1,026,212 $ 551,516 $ 623,495 (1) Includes promote revenue earned primarily from PELF in September 2022 and USLF in June 2020. (2) These amounts exclude strategic capital revenues from other ventures.

Assets Held for Sale or Contr_2

Assets Held for Sale or Contribution (Tables)	12 Months Ended
	Dec. 31, 2022
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): 2022 2021 Number of operating properties 21 14 Square feet 4,061 5,486 Total assets held for sale or contribution $ 531,257 $ 669,688 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 4,536 $ 10,631

Other Assets and Other Liabil_2

Other Assets and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2022
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): 2022 2021 Acquired lease intangibles (1) $ 1,183,006 $ 552,517 Lease right-of-use assets (2) 735,430 459,364 Rent leveling 715,679 578,960 Leasing commissions 650,127 520,778 Accounts receivable 377,996 424,240 Prepaid assets 239,483 153,591 Derivative assets 227,236 91,047 Value added taxes receivable 143,317 133,034 Fixed assets 119,897 118,044 Other notes receivable 116,537 35,970 Management contracts 11,048 12,282 Deferred income taxes 5,732 8,926 Other 276,011 223,701 Total other assets $ 4,801,499 $ 3,312,454 Acquired lease intangibles (1) $ 2,373,050 $ 198,894 Lease liabilities (2) 638,811 448,445 Tenant security deposits 419,409 373,432 Unearned rents 305,299 164,669 Environmental liabilities 209,935 86,920 Deferred income taxes 99,757 75,007 Indemnification liability 44,356 44,416 Deferred income 24,481 21,699 Value added taxes payable 15,160 17,556 Derivative liabilities 6,682 9,675 Liabilities associated with assets held for sale or contribution 4,536 10,631 Other 305,033 324,845 Total other liabilities $ 4,446,509 $ 1,776,189 (1) Included in acquired lease intangible assets and liabilities were $832.5 million of intangible assets and $2.3 billion of intangible liabilities from the Duke Transaction, respectively. These assets and liabilities will be amortized over the terms of the respective leases with a weighted average remaining lease term of 64 months. See Note 3 for more information. (2) 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 Future Amortized Expense And Benefit Charge To Rental Revenue Table Text Block	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, 2022 (in thousands): Amortization Expense Net Increase to Rental Revenues 2023 $ 421,196 $ 479,339 2024 323,562 343,066 2025 257,560 231,108 2026 202,120 157,520 2027 152,028 112,213 Thereafter 376,559 234,017 Total $ 1,733,025 $ 1,557,263

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2022
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): 2022 2021 Weighted Average Amount Weighted Average Amount Interest Rate (1) Years (2) Outstanding (3) Interest Rate (1) Years (2) Outstanding (3) Credit facilities (4) 4.2% 2.8 $ 1,538,461 0.8% 1.6 $ 491,393 Senior notes (4) (5) 2.3% 10.3 19,786,253 1.7% 11.6 14,981,690 Term loans and unsecured other (4) 2.3% 4.9 2,106,592 0.5% 4.2 1,825,195 Secured mortgage (4) (6) 3.0% 4.3 444,655 5.1% 4.7 416,776 Total 2.5% 9.2 $ 23,875,961 1.6% 10.4 $ 17,715,054 (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 years 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: 2022 2021 Weighted Average Interest Rate Amount Outstanding % of Total Weighted Average Interest Rate Amount Outstanding % of Total British pound sterling 2.1 % $ 1,228,483 5.1 % 2.1 % $ 1,376,807 7.8 % Canadian dollar 4.5 % 814,491 3.4 % 2.7 % 283,773 1.6 % Euro 1.3 % 7,991,301 33.5 % 1.0 % 7,408,407 41.8 % Japanese yen 1.0 % 3,308,009 13.9 % 0.9 % 2,878,542 16.2 % U.S. dollar 3.6 % 10,533,677 44.1 % 2.6 % 5,767,525 32.6 % Total 2.5 % $ 23,875,961 100.0 % 1.6 % $ 17,715,054 100.0 % (4) Through the Duke Transaction, we assumed $4.2 billion of debt with a weighted average stated interest rate of 2.3% and 4.9% at fair value consisting of $2.9 billion of senior notes, a $746.4 million line of credit, a $501.2 million term loan and $34.2 million of secured mortgage debt. We paid down the balance on Duke’s line of credit subsequent to closing the acquisition. (5) Senior notes are due from February 2024 to June 2061 with effective interest rates ranging from 0.3% to 5.3% at December 31, 2022. (6) Secured mortgage debt is due from April 2023 to September 2033 with effective interest rates ranging from 0.4% to 7.0 % at December 31, 2022. The debt was principally secured by 21 operating properties, two properties under development, one prestabilized property, two other real estate investments and one land parcel with an aggregate undepreciated cost of $1.3 billion at December 31, 2022.
Schedule Of Credit Facility Activity and Current Availability on Debt And Cash	The following table summarizes information about our Credit Facility activity and available liquidity (dollars in millions): 2022 2021 2020 Credit Facility activity for the years ended December 31: Weighted average daily interest rate 1.7 % 1.3 % 1.1 % Weighted average daily borrowings $ 519 $ 60 $ 109 Maximum borrowings outstanding at any month-end $ 1,538 $ 491 $ 727 Available liquidity at December 31: Aggregate lender commitments Credit Facilities $ 5,441 $ 4,940 $ 4,119 Less: Borrowings outstanding 1,538 491 172 Outstanding letters of credit 38 7 24 Current availability $ 3,865 $ 4,442 $ 3,923 Available term loans - - 250 Cash and cash equivalents 278 556 598 Total liquidity $ 4,143 $ 4,998 $ 4,771
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 Years Maturity Dates January £ 60,000 $ 80,932 2.1% 20.0 December 2041 February (2) € 1,550,000 $ 1,768,240 1.0% 8.5 February 2024 – 2034 July ¥ 30,964,500 $ 226,588 1.4% 15.5 July 2027 – 2042 September (2) $ 650,000 $ 650,000 4.6% 10.3 January 2033 November C$ 500,000 $ 362,511 5.3% 8.2 January 2031 December ¥ 24,200,000 $ 177,560 1.8% 13.4 December 2027 – 2037 Total $ 3,265,831 2.3% 9.8 (1) The exchange rate used to calculate into U.S. dollars was the spot rate at the settlement date. (2) A portion of the net proceeds from the issuance of these notes were used to finance green projects eligible under our green bond framework.
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 2022 Amount Outstanding at 2022 Amount Outstanding at 2021 Interest Rate Maturity Date Borrowing Currency USD USD USD 2015 Canadian (1) Term Loan CAD December 2015 $ - $ 134,173 CDOR + 0.9% February 2023 March 2017 Yen Term Loan JPY March 2017 ¥ 12,000,000 $ 90,994 90,994 104,243 0.9% and 1.0% March 2027 – 2028 October 2017 Yen Term Loan JPY October 2017 ¥ 10,000,000 $ 75,828 75,828 86,869 0.9% October 2032 December 2018 Yen Term Loan JPY December 2018 ¥ 20,000,000 $ 151,656 151,656 173,738 1.2% and TIBOR + 0.7% December 2031 – June 2033 January 2019 Yen Term Loan JPY January 2019 ¥ 15,000,000 $ 113,742 113,742 130,304 TIBOR + 0.5% to 0.6% January 2028 – 2030 March 2019 Yen Term Loan JPY March 2019 ¥ 85,000,000 $ 644,540 644,540 738,388 TIBOR + 0.4% March 2026 June 2022 Yen Term Loan JPY June 2022 ¥ 25,000,000 $ 189,570 189,570 - 1.1% and 1.2% June 2032 - 2034 2022 Canadian Term Loan (1) CAD August 2022 C$ 300,000 $ 221,593 221,593 - CDOR + spread August 2025 2022 U.S. Dollar Term Loan (2) USD October 2022 $ 500,000 $ 500,000 500,000 - SOFR + 0.1% March 2025 December 2022 Yen Term Loan JPY December 2022 ¥ 15,000,000 $ 113,742 113,742 - 1.4% December 2033 Subtotal 2,101,665 1,367,715 Debt issuance costs, net (5,007 ) (5,169 ) Total term loans $ 2,096,658 $ 1,362,546 (1) In July 2022, we paid down our existing term loan in Canada of CAD $170.5 million ($133.5 million) and entered into a new term loan in Canada (“2022 Canadian Term Loan”) for CAD $300.0 million ($221.6 million at December 31, 2022), bearing interest at the Canada Dollar Offered Rate (“CDOR”) plus a spread over the applicable benchmark. We can extend the maturity date on the 2022 Canadian Term Loan by one year on two occasions, subject to the payment of extension fees. As the CDOR interest rate will transition to the Canadian Overnight Repo Rate Average prior to June 30, 2024, we anticipate modifying the interest rate on this loan prior to this transition and do not expect it to have a material impact on our Consolidated Financial Statements (2) This term loan was acquired in the Duke Transaction.
Long-Term Debt Maturities	Scheduled principal payments due on our debt for each year through the period ended December 31, 2027, and thereafter were as follows at December 31, 2022 (in thousands): Unsecured Credit Senior Term Loans Secured Maturity Facilities Notes and Other Mortgage Total 2023 (1) $ - $ - $ - $ 32,940 $ 32,940 2024 (2) 486,795 319,980 - 95,379 902,154 2025 (3) - 37,914 722,711 146,793 907,418 2026 (4) 1,051,666 1,308,179 644,605 68,434 3,072,884 2027 - 1,746,859 54,348 4,156 1,805,363 Thereafter - 16,949,473 688,869 89,135 17,727,477 Subtotal 1,538,461 20,362,405 2,110,533 436,837 24,448,236 Unamortized premiums (discounts), net - (490,968 ) 1,066 8,766 (481,136 ) Unamortized debt issuance costs, net - (85,184 ) (5,007 ) (948 ) (91,139 ) Total $ 1,538,461 $ 19,786,253 $ 2,106,592 $ 444,655 $ 23,875,961 (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 2024 maturities is the 2021 Global Facility and Yen Credit Facility that can be extended until 2025. (3) Included in the 2025 maturities is the 2022 Canadian Term Loan that can be extended until 2027. (4) Included in the 2026 maturities is the 2022 Global Facility that can be extended until 2027.
Interest Expense	The following table summarizes the components of interest expense for the years ended December 31 (in thousands): 2022 2021 2020 Gross interest expense $ 345,398 $ 299,115 $ 348,427 Amortization of debt discounts (premiums), net 6,602 (7,478 ) (6,741 ) Amortization of debt issuance costs, net 17,134 16,134 14,600 Interest expense before capitalization $ 369,134 $ 307,771 $ 356,286 Capitalized amounts (60,097 ) (41,543 ) (41,779 ) Net interest expense $ 309,037 $ 266,228 $ 314,507 Total cash paid for interest, net of amounts capitalized $ 234,131 $ 278,861 $ 309,390

Stockholders' Equity of Prolo_2

Stockholders' Equity of Prologis, Inc. (Tables)	12 Months Ended
	Dec. 31, 2022
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: 2022 (1) 2021 2020 Common Stock: Ordinary income $ 3.08 $ 2.45 $ 2.12 Qualified dividend 0.02 0.00 0.00 Capital gains 0.06 0.07 0.20 Total distribution $ 3.16 $ 2.52 $ 2.32 Preferred Stock – Series Q: Ordinary income $ 4.16 $ 4.15 $ 3.96 Qualified dividend 0.02 0.01 0.02 Capital gains 0.09 0.11 0.29 Total dividend $ 4.27 $ 4.27 $ 4.27 (1) Taxability for 2022 is estimated.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2022
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 2022 2021 2022 2021 2022 2021 2022 2021 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 3,182,858 $ 3,264,337 $ 7,225,438 $ 7,397,195 $ 158,453 $ 147,545 Other consolidated entities (1) various various 134,909 133,201 1,737,311 1,453,236 259,524 162,598 Prologis, L.P. 3,317,767 3,397,538 8,962,749 8,850,431 417,977 310,143 Limited partners in Prologis, L.P. (2)(3) 1,308,044 917,799 - - - - Prologis, Inc. $ 4,625,811 $ 4,315,337 $ 8,962,749 $ 8,850,431 $ 417,977 $ 310,143 (1) Includes 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, 2022 and 2021 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, 2022 and 2021 that were convertible into 8.0 (3) There were limited partnership units in the OP, excluding the Class A Units, that were exchangeable into cash or, at our option, 10.0 million and 8.4 million shares of the Parent’s common stock, at December 31, 2022 and 2021, respectively. Also included are the vested OP Long-Term Incentive Plan Units (“LTIP Units”) associated with our long-term compensation plans of 4.6 million and 4.0 million shares of the Parent’s common stock at December 31, 2022 and 2021, respectively. See further discussion of LTIP Units in Note 12.

Long-Term Compensation (Tables)

Long-Term Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
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): 2022 2021 2020 Risk free interest rate 1.0 % 0.2 % 1.7 % Prologis expected volatility 31.0 % 32.0 % 19.0 % MSCI US REIT Index expected volatility 29.0 % 29.0 % 13.0 % Aggregate fair value $ 30,400 $ 30,300 $ 28,800
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 2020 – 2022, 2019 – 2021, 2018 – 2020, and 2017 – 2019 performance periods at the end of the initial three-year 2020 – 2022 2019 – 2021 2018 – 2020 2017 – 2019 (1) Performance pool $ 100,000 $ 100,000 $ 100,000 $ 142,133 Common stock shares 53 34 61 443 Restricted stock units 211 134 242 - POP LTIP Units and LTIP Units 623 426 701 930 Average price used to determine number of awards $ 112.74 $ 168.37 $ 99.67 $ 103.56 (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 $75.0 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, 2022 (units in thousands): Unvested RSUs Weighted Average Grant Date Fair Value Balance at January 1, 2022 1,237 $ 87.87 Granted 838 118.05 Vested and distributed (502 ) 96.74 Forfeited (40 ) 121.42 Balance at December 31, 2022 1,533 $ 100.59
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, 2022 (units in thousands): Unvested LTIP Units Weighted Average Grant Date Fair Value Balance at January 1, 2022 3,317 $ 61.65 Granted 1,831 103.13 Vested LTIP Units (934 ) 90.30 Balance at December 31, 2022 4,214 $ 73.31

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
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): 2022 2021 2020 Domestic $ 2,423,809 $ 2,208,168 $ 1,030,609 International 1,267,001 1,114,680 716,479 Earnings before income taxes $ 3,690,810 $ 3,322,848 $ 1,747,088
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): 2022 2021 2020 Current income tax expense (benefit): U.S. federal $ (6,645 ) $ 58,906 $ 48,440 International 112,489 103,488 65,720 State and local 16,930 10,542 15,554 Total current income tax expense 122,774 172,936 129,714 Deferred income tax expense (benefit): U.S. federal 3,359 2,895 (2,464 ) International 9,279 (1,573 ) 3,208 Total deferred income tax expense 12,638 1,322 744 Total income tax expense $ 135,412 $ 174,258 $ 130,458
Deferred Income Tax Assets and Liabilities	The following table summarizes the deferred income tax assets and liabilities at December 31 (in thousands): 2022 2021 Gross deferred income tax assets: NOL carryforwards $ 229,410 $ 272,713 Basis difference – real estate properties 94,610 99,984 Basis difference – equity investments 17,042 8,462 Section 163(j) interest limitation 2,218 1,599 Capital loss carryforward 6,903 14,238 Other – temporary differences 9,250 10,027 Total gross deferred income tax assets 359,433 407,023 Valuation allowance (295,834 ) (337,587 ) Gross deferred income tax assets, net of valuation allowance 63,599 69,436 Gross deferred income tax liabilities: Basis difference – real estate properties 116,102 104,292 Basis difference – equity investments 40,333 30,276 Other – temporary differences 1,189 949 Total gross deferred income tax liabilities 157,624 135,517 Net deferred income tax liabilities $ 94,025 $ 66,081
Summary of Operating Loss Carryforwards	At December 31, 2022, we had NOL carryforwards as follows (in thousands): U.S. Europe Mexico Japan Other Gross NOL carryforward $ 68,491 $ 564,972 $ 161,964 $ 62,563 $ 36,810 Tax-effected NOL carryforward 17,415 142,330 51,290 9,258 9,117 Valuation allowance 16,811 137,055 51,290 9,258 9,117 Net deferred tax asset – NOL carryforward $ 604 $ 5,275 $ - $ - $ - Expiration periods 2023 – 2042 2023 – indefinite 2023 – 2033 2023 – 2032 2023 – indefinite

Earnings Per Common Share or _2

Earnings Per Common Share or Unit (Tables)	12 Months Ended
	Dec. 31, 2022
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. 2022 2021 2020 Net earnings attributable to common stockholders – Basic $ 3,358,796 $ 2,933,571 $ 1,473,122 Net earnings attributable to exchangeable limited partnership units (1) 92,236 82,092 41,938 Adjusted net earnings attributable to common stockholders – Diluted $ 3,451,032 $ 3,015,663 $ 1,515,060 Weighted average common shares outstanding – Basic 785,675 739,363 728,323 Incremental weighted average effect on exchange of limited partnership units (1) 21,803 20,913 20,877 Incremental weighted average effect of equity awards 4,130 4,486 5,214 Weighted average common shares outstanding – Diluted (2) 811,608 764,762 754,414 Net earnings per share attributable to common stockholders: Basic $ 4.28 $ 3.97 $ 2.02 Diluted $ 4.25 $ 3.94 $ 2.01 Prologis, L.P. 2022 2021 2020 Net earnings attributable to common unitholders $ 3,450,727 $ 3,015,363 $ 1,514,743 Net earnings attributable to Class A Units (34,311 ) (31,758 ) (16,262 ) Net earnings attributable to common unitholders – Basic 3,416,416 2,983,605 1,498,481 Net earnings attributable to Class A Units 34,311 31,758 16,262 Net earnings attributable to exchangeable other limited partnership units 305 300 317 Adjusted net earnings attributable to common unitholders – Diluted $ 3,451,032 $ 3,015,663 $ 1,515,060 Weighted average common partnership units outstanding – Basic 799,153 751,973 740,860 Incremental weighted average effect on exchange of Class A Units 8,026 8,004 8,041 Incremental weighted average effect on exchange of other limited partnership units 299 299 299 Incremental weighted average effect of equity awards of Prologis, Inc. 4,130 4,486 5,214 Weighted average common units outstanding – Diluted (2) 811,608 764,762 754,414 Net earnings per unit attributable to common unitholders: Basic $ 4.28 $ 3.97 $ 2.02 Diluted $ 4.25 $ 3.94 $ 2.01 (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 2022 2021 2020 Class A Units 8,026 8,004 8,041 Other limited partnership units 299 299 299 Equity awards 6,298 6,719 7,798 Prologis, L.P. 14,623 15,022 16,138 Common limited partnership units 13,478 12,610 12,537 Prologis, Inc. 28,101 27,632 28,675

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2022
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 2022 2021 Asset Liability Asset Liability Undesignated derivatives Foreign currency contracts Forwards Brazilian real $ 35 $ 494 $ 664 $ - British pound sterling 29,187 648 5,361 3,492 Canadian dollar 12,074 2 2,856 1,790 Chinese renminbi 657 364 - 550 Euro 51,317 2,801 40,484 136 Japanese yen 34,022 2,344 23,341 - Swedish krona 6,292 - 3,773 201 Designated derivatives Foreign currency contracts Net investment hedges British pound sterling 23,534 - 9,158 2,683 Canadian dollar 24,552 - 5,410 823 Interest rate swaps Cash flow hedges Euro 44,982 - - - U.S. dollar 584 29 - - Total fair value of derivatives $ 227,236 $ 6,682 $ 91,047 $ 9,675
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) and Other Income (Expense), Net 2022 2021 2020 Exercised contracts 158 161 173 Realized gains (losses) on the matured, expired or settled contracts $ 145 $ (8 ) $ (6 ) Unrealized gains (losses) on the change in fair value of outstanding contracts $ 39 $ 88 $ (13 )
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 2022 2021 2020 EUR USD CAD JPY Total EUR USD Total EUR USD Total Notional amounts at January 1 ($) 165 - - - 165 165 250 415 - - - New contracts ($) 1,004 400 184 104 1,692 - - - 165 1,500 1,665 Matured, expired or settled contracts ($) (722 ) (250 ) (184 ) (104 ) (1,260 ) - (250 ) (250 ) - (1,250 ) (1,250 ) Notional amounts at December 31 ($) 447 150 - - 597 165 - 165 165 250 415
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): 2022 2021 2020 British pound sterling $ 1,237 $ 624 $ 842 Canadian dollar $ 370 $ - $ -
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) and Other Income (Expense), Net 2022 2021 2020 Unrealized gains (losses) on the unhedged portion $ 44 $ 81 $ (139 )
Summary of Changes in Other Comprehensive Income (Loss)	The following table presents these changes in Other Comprehensive Income (Loss) 2022 2021 2020 Derivative net investment hedges $ 95,012 $ 9,792 $ (4,301 ) Debt designated as nonderivative net investment hedges 133,135 (832 ) (62,263 ) Cumulative translation adjustment 145,258 296,969 (128,109 ) Total foreign currency translation gains (losses), net $ 373,405 $ 305,929 $ (194,673 ) Cash flow hedges (1)(2) $ 45,837 $ 9,098 $ (11,269 ) Our share of derivatives from unconsolidated co-investment ventures 25,802 8,444 (2,848 ) Total unrealized gains (losses) on derivative contracts, net $ 71,639 $ 17,542 $ (14,117 ) Total change in other comprehensive income (loss) $ 445,044 $ 323,471 $ (208,790 ) (1) We estimate an additional expense of $13.9 million will be reclassified to Interest Expense over the next 12 months from December 31, 2022, 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): 2022 2021 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 1,538,461 $ 1,538,461 $ 491,393 $ 491,429 Senior notes 19,786,253 16,604,241 14,981,690 15,151,781 Term loans and unsecured other 2,106,592 2,092,264 1,825,195 1,835,569 Secured mortgage 444,655 420,964 416,776 437,215 Total $ 23,875,961 $ 20,655,930 $ 17,715,054 $ 17,915,994
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): 2022 2021 2020 CAD EUR GBP JPY Other Total CAD EUR GBP JPY Other Total CAD EUR GBP JPY Other Total Notional amounts at January 1 ($) 175 749 383 250 105 1,662 163 474 207 252 66 1,162 120 581 178 182 46 1,107 New contracts ($) 172 658 264 181 92 1,367 225 437 308 76 91 1,137 88 1,314 364 154 85 2,005 Matured, expired or settled contracts ($) (64) (806) (298) (100) (116) (1,384) (213) (162) (132) (78) (52) (637) (45) (1,421) (335) (84) (65) (1,950) Notional amounts at December 31 ($) 283 601 349 331 81 1,645 175 749 383 250 105 1,662 163 474 207 252 66 1,162 Weighted average forward rate at December 31 1.29 1.18 1.31 109.79 1.26 1.22 1.20 103.14 1.32 1.23 1.32 102.66 Active contracts at December 31 103 97 90 96 72 86 70 74 58 64 53 59
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 2022 2021 2020 CAD GBP Total CAD GBP Total CAD GBP Total Notional amounts at January 1 ($) 535 432 967 377 135 512 97 387 484 New contracts ($) 964 440 1,404 535 432 967 377 459 836 Matured, expired or settled contracts ($) (965 ) (432 ) (1,397 ) (377 ) (135 ) (512 ) (97 ) (711 ) (808 ) Notional amounts at December 31 ($) 534 440 974 535 432 967 377 135 512 Weighted average forward rate at December 31 1.29 1.28 1.25 1.37 1.31 1.35 Active contracts at December 31 6 4 6 4 6 1

Business Segments (Tables)

Business Segments (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Segment Reporting, Reconciliation of Revenues, Operating Income and Assets	The following reconciliations are presented in thousands: Years Ended December 31, 2022 2021 2020 Revenues: Real estate segment: U.S. $ 4,726,072 $ 3,967,180 $ 3,600,335 Other Americas 92,751 98,620 87,830 Europe 56,731 55,533 68,801 Asia 58,553 47,357 44,782 Total real estate segment 4,934,107 4,168,690 3,801,748 Strategic capital segment: U.S. 215,416 171,761 354,825 Other Americas 82,462 58,655 37,696 Europe 644,832 249,600 145,016 Asia 96,875 110,734 99,450 Total strategic capital segment 1,039,585 590,750 636,987 Total revenues 5,973,692 4,759,440 4,438,735 Segment net operating income: Real estate segment: U.S. (1) 3,555,627 2,966,498 2,679,685 Other Americas 67,552 72,424 64,473 Europe 24,738 31,163 43,531 Asia 40,116 34,854 31,986 Total real estate segment 3,688,033 3,104,939 2,819,675 Strategic capital segment: U.S. (1) 59,561 59,991 237,271 Other Americas 63,464 47,247 24,923 Europe 557,676 203,779 99,504 Asia 55,528 72,562 57,248 Total strategic capital segment 736,229 383,579 418,946 Total segment net operating income 4,424,262 3,488,518 3,238,621 Reconciling items: General and administrative expenses (331,083 ) (293,167 ) (274,845 ) Depreciation and amortization expenses (1,812,777 ) (1,577,942 ) (1,561,969 ) Gains on dispositions of development properties and land, net 597,745 817,017 464,942 Gains on other dispositions of investments in real estate, net 589,391 772,570 252,195 Operating income 3,467,538 3,206,996 2,118,944 Earnings from unconsolidated entities, net 310,872 404,255 297,370 Interest expense (309,037 ) (266,228 ) (314,507 ) Foreign currency and derivative gains (losses) and other income (expense), net 241,621 165,278 (166,429 ) Losses on early extinguishment of debt, net (20,184 ) (187,453 ) (188,290 ) Earnings before income taxes $ 3,690,810 $ 3,322,848 $ 1,747,088 December 31, 2022 2021 Segment assets: Real estate segment: U.S. $ 71,858,560 $ 44,136,140 Other Americas 1,831,956 1,148,371 Europe 1,952,160 1,837,800 Asia 1,031,135 965,854 Total real estate segment 76,673,811 48,088,165 Strategic capital segment (2) U.S. 10,817 11,984 Europe 25,280 25,280 Asia 231 299 Total strategic capital segment 36,328 37,563 Total segment assets 76,710,139 48,125,728 Reconciling items: Investments in and advances to unconsolidated entities 9,698,898 8,610,958 Assets held for sale or contribution 531,257 669,688 Cash and cash equivalents 278,483 556,117 Other assets 678,671 523,729 Total reconciling items 11,187,309 10,360,492 Total assets $ 87,897,448 $ 58,486,220 (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, 2022
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, 2022: Rental revenues $ 1,076,861 $ 1,093,452 $ 1,151,846 $ 1,591,012 Total revenues $ 1,219,128 $ 1,252,080 $ 1,750,892 $ 1,751,592 Rental expenses $ (275,674 ) $ (270,465 ) $ (284,707 ) $ (374,892 ) Gains on dispositions of development properties and land, net $ 210,206 $ 105,802 $ 74,678 $ 207,059 Gains on other dispositions of investments in real estate, net $ 584,835 $ - $ 1,019 $ 3,537 Operating income $ 1,205,802 $ 533,317 $ 914,970 $ 813,449 Consolidated net earnings $ 1,219,722 $ 646,436 $ 1,069,174 $ 620,066 Net earnings attributable to common stockholders $ 1,149,254 $ 609,855 $ 1,013,933 $ 585,754 Net earnings per share attributable to common stockholders – Basic (1) $ 1.55 $ 0.82 $ 1.37 $ 0.64 Net earnings per share attributable to common stockholders – Diluted (1)(2) $ 1.54 $ 0.82 $ 1.36 $ 0.63 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 Prologis, L.P. 2022: Rental revenues $ 1,076,861 $ 1,093,452 $ 1,151,846 $ 1,591,012 Total revenues $ 1,219,128 $ 1,252,080 $ 1,750,892 $ 1,751,592 Rental expenses $ (275,674 ) $ (270,465 ) $ (284,707 ) $ (374,892 ) Gains on dispositions of development properties and land, net $ 210,206 $ 105,802 $ 74,678 $ 207,059 Gains on other dispositions of investments in real estate, net $ 584,835 $ - $ 1,019 $ 3,537 Operating income $ 1,205,802 $ 533,317 $ 914,970 $ 813,449 Consolidated net earnings $ 1,219,722 $ 646,436 $ 1,069,174 $ 620,066 Net earnings attributable to common unitholders $ 1,181,525 $ 627,286 $ 1,042,664 $ 599,252 Net earnings per unit attributable to common unitholders – Basic (1) $ 1.55 $ 0.82 $ 1.37 $ 0.64 Net earnings per unit attributable to common unitholders – Diluted (1) $ 1.54 $ 0.82 $ 1.36 $ 0.63 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 (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, 2022 Segment
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	2.40%
General Partner [Member] | Prologis LP [Member]
Description Of Business And Basis Of Presentation [Line Items]
Percentage of ownership in operating partnership	97.60%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022
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%
Property development completed period	1 year
Depreciation on development buildings description	Depreciation on development buildings commences when the asset is ready for its intended use, which we define as the earlier of when a property that was developed has been completed for one year, or is 90% occupied.
Contributed to a co-investment venture following completion period	1 year
Estimated useful lives	40 years
Weighted average lease term period	69 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 when a property that was developed has been completed for one year, or is 90% occupied.
Threshold percentage to recognize gain or loss on transactions in consolidated entities	100%
Minimum percentage for distribute taxable income	90%
Percentage of taxable income distribute	100%
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	40 years

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) $ in Millions	Oct. 03, 2022 USD ($)	Feb. 04, 2020 USD ($)
Duke Transaction [Member]
Business Acquisition [Line Items]
Business acquisition, date of acquisition agreement	Oct. 03, 2022
Business acquisition consideration transferred	$ 23,200
Fair value of Prologis shares and units issued	18,776
Business acquisition, assumption of debt	$ 4,162
Business acquisition stock conversion ratio	0.00475
Transaction costs	$ 239.8
Liberty Transaction [Member]
Business Acquisition [Line Items]
Business acquisition, date of acquisition agreement		Feb. 04, 2020
Business acquisition consideration transferred		$ 13,000
Fair value of Prologis shares and units issued	10,015	$ 10,000
Business acquisition, assumption of debt	$ 2,845
Business acquisition stock conversion ratio		0.00675
Business acquisition, assumption of debt		$ 2,800
Liberty Transaction [Member] | Other Ventures [Member]
Business Acquisition [Line Items]
Transaction costs		$ 115.8

Acquisitions - Schedule of Aggr

Acquisitions - Schedule of Aggregate Equity Consideration (Detail) - USD ($) $ / shares in Units, $ in Millions	Oct. 03, 2022	Feb. 04, 2020	Sep. 30, 2022
Duke Transaction [Member]
Business Acquisition [Line Items]
Number of Prologis shares and units issued upon conversion of Duke's shares and units at October 3, 2022	184.80
Multiplied by price of Prologis' common stock on September 30, 2022			$ 101.60
Fair value of Prologis shares and units issued	$ 18,776
Liberty Transaction [Member]
Business Acquisition [Line Items]
Number of Prologis shares and units issued upon conversion of Duke's shares and units at October 3, 2022	109,010,000
Multiplied by price of Prologis' common stock on September 30, 2022	$ 91,870,000
Fair value of Prologis shares and units issued	$ 10,015	$ 10,000

Acquisitions - Schedule of Purc

Acquisitions - Schedule of Purchase Price including Transaction Costs Allocated to Assets Acquired and Liabilities Assumed (Detail) - Duke Transaction [Member] $ in Millions	Oct. 03, 2022 USD ($)
Business Acquisition [Line Items]
Net investments in real estate	$ 24,908
Cash and other assets	441
Debt	(4,162)
Intangible liabilities, net of intangible assets	(1,461)
Accounts payable, accrued expenses and other liabilities	(708)
Noncontrolling interests	(2)
Total purchase price, including transaction costs	$ 19,016

Acquisitions - Schedule of Pu_2

Acquisitions - Schedule of Purchase Price including Transaction Costs Allocated to Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) - Duke Transaction [Member] - USD ($) $ in Millions	Dec. 31, 2022	Oct. 03, 2022
Business Acquisition [Line Items]
Intangible assets	$ 832.5
Intangible liabilities	$ 2,300
Weighted average remaining lease term	64 months
Lessor [Member]
Business Acquisition [Line Items]
Weighted average remaining lease term		64 months
Lessor [Member] | Other Assets [Member]
Business Acquisition [Line Items]
Intangible assets		$ 832,500
Lessor [Member] | Other Liabilities [Member]
Business Acquisition [Line Items]
Intangible liabilities		$ 2,300

Acquisitions - Schedule of Pu_3

Acquisitions - Schedule of Purchase Price Allocated to Liberty Real Estate Properties and Related Lease Intangibles (Detail) - Liberty Transaction [Member] $ in Millions	Oct. 03, 2022 USD ($)
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, 2022 USD ($) ft² a Building		Dec. 31, 2021 USD ($) ft² a Building
Real Estate Properties [Line Items]
Total investments in real estate properties		$ 81,623,396		$ 53,005,190
Less accumulated depreciation		9,036,085		7,668,187
Net investments in real estate properties		72,587,311		45,337,003
Improved Land [Member]
Real Estate Properties [Line Items]
Total investments in real estate properties		$ 20,388,461	[1]	$ 12,294,246
Building and Improvements [Member]
Real Estate Properties [Line Items]
Square Feet | ft²		597,362	[1]	444,413
Number of buildings | Building		2,825	[1]	2,310
Total investments in real estate properties		$ 48,650,334	[1]	$ 32,159,514
Development Portfolio, Including Cost of Land: Pre-stabilized [Member]
Real Estate Properties [Line Items]
Square Feet | ft²		4,874	[1]	6,325
Number of buildings | Building		15	[1]	16
Total investments in real estate properties		$ 597,553	[1]	$ 710,091
Properties Under Development [Member]
Real Estate Properties [Line Items]
Square Feet | ft²		44,011	[1]	28,638
Number of buildings | Building		121	[1]	83
Total investments in real estate properties		$ 3,614,601	[1]	$ 2,019,249
Land [Member]
Real Estate Properties [Line Items]
Square Feet | a		7,188		6,227
Total investments in real estate properties	[2]	$ 3,338,121	[1]	$ 2,519,590
Other Real Estate Investments [Member]
Real Estate Properties [Line Items]
Total investments in real estate properties	[3]	$ 5,034,326	[1]	$ 3,302,500
[1]Includes the acquired real estate properties from the Duke Transaction at December 31, 2022. See Note 3 for more information.[2]At December 31, 2022 and 2021, our land was comprised of 7,188 and 6,227 acres, respectively.[3] Included in other real estate investments were: (i) non-strategic real estate assets, primarily acquired from the Duke Transaction, that we do not intend to operate long-term; (ii) land parcels we own and lease to third parties; (iii) non-industrial real estate assets that we generally intend to redevelop into industrial properties; 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, 2022	Dec. 31, 2021
Land [Member]
Real Estate Properties [Line Items]
Square Feet	7,188	6,227

Real Estate - Summary of Acquis

Real Estate - Summary of Acquisition (Detail) ft² in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2022 USD ($) ft² a Property	Dec. 31, 2021 USD ($) ft² a Property		Dec. 31, 2020 USD ($) ft² a Property	[2]
Business Acquisition [Line Items]
Number of operating properties | Property		23	31	[1]	150
Square feet | ft²		5,169	6,760	[1]	21,874
Acquisition cost of net investments in real estate, excluding other real estate investments	[1]	$ 1,828,256	$ 2,517,644		$ 3,054,381
Acquisition cost of other real estate investments		$ 641,168	$ 525,499	[1]	$ 206,084
Acquisitions of Properties from Third Parties [Member] | Land [Member]
Business Acquisition [Line Items]
Acres of land | a		2,218	2,684	[1]	830
[1]Included in 2021, is our acquisition of additional ownership interest in certain unconsolidated other ventures that we acquired from our partners and subsequently resulted in the consolidation of 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.

Real Estate - Summary of Acqu_2

Real Estate - Summary of Acquisition (Parenthetical) (Detail) - USD ($) $ in Thousands		12 Months Ended
	Jan. 08, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Real estate acquisitions		$ 2,492,108	$ 2,320,448	$ 1,239,034
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, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) ft² Property		Dec. 31, 2021 USD ($) ft² Property		Dec. 31, 2020 USD ($) ft² Property
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]									$ 597,745		$ 817,017		$ 464,942
Gains on other dispositions of investments in real estate, net		$ 3,537	$ 1,019	$ 0	$ 584,835	$ 414,390	$ 214,390	$ 127,167	$ 16,623	$ 589,391	[2]	$ 772,570	[2]	$ 252,195	[2]
Discontinuing Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of buildings | Property	[1]									21		41		41
Square feet | ft²	[1]									7,676		16,482		14,482
Net proceeds	[1]									$ 1,398,585		$ 2,629,750		$ 1,693,557
Continuing Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of buildings | Property	[2]									103		97		61
Square feet | ft²	[2]									8,718		20,806		10,562
Net proceeds	[2]									$ 1,271,639		$ 2,536,622		$ 1,264,692
[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. In 2021, we sold our ownership interest in an unconsolidated other venture.

Leases - Additional Information

Leases - Additional Information (Detail) $ in Thousands		Dec. 31, 2022 USD ($) Land	Dec. 31, 2021 USD ($) Land
Lessor Lessee Lease Description [Line Items]
Weighted average lease term remaining		55 months
Number of land and office space leases | Land		135	120
Lease liabilities | $	[1]	$ 638,811	$ 448,445
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]		us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent
Operating Lease, Weighted Average Remaining Lease Term		31 years	28 years
Weighted average incremental borrowing rate percentage		3.40%	3.20%
Minimum [Member]
Lessor Lessee Lease Description [Line Items]
Operating leases lease term		1 year
Maximum [Member]
Lessor Lessee Lease Description [Line Items]
Operating leases lease term		87 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.

Leases - Summary of Minimum Lea

Leases - Summary of Minimum Lease Payments on Leases (Detail) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 4,404,367
2024	4,221,731
2025	3,800,708
2026	3,231,191
2027	2,578,599
Thereafter	9,452,245
Total	$ 27,688,841

Leases - Future Minimum Rental

Leases - Future Minimum Rental Payments under Non-Cancelable Operating Leases (Detail) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2023		$ 62,061
2024		71,709
2025		56,349
2026		47,443
2027		39,642
Thereafter		1,144,025
Total undiscounted rental payments		1,421,229
Less imputed interest		782,418
Total lease liabilities	[1]	$ 638,811	$ 448,445
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, 2022	Dec. 31, 2021
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities		$ 9,698,898	$ 8,610,958
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities		8,073,927	7,825,455
Other Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	[1]	$ 1,624,971	$ 785,503
[1]In 2022, we completed the Duke Transaction and acquired an equity method investment in several other ventures.

Unconsolidated Entities - Infor

Unconsolidated Entities - Information About Investments in Co-investment Ventures by Property Funds (Detail) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage in property fund		$ 9,698,898	$ 8,610,958
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage in property fund		$ 8,073,927	$ 7,825,455
Prologis Targeted U.S. Logistics Fund, L.P. [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage		26.20%	27%
Ownership Percentage in property fund		$ 2,397,544	$ 2,393,232
FIBRA Prologis [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage	[1]	47.90%	47.30%
Ownership Percentage in property fund	[1]	$ 888,710	$ 694,590
Prologis European Logistics Partners Holding [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage	[2],[3]	50%	50%
Ownership Percentage in property fund	[2],[3]	$ 1,949,002	$ 2,097,332
Prologis European Logistics Fund [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage	[3]	23.80%	23.80%
Ownership Percentage in property fund	[3]	$ 1,837,615	$ 1,605,253
Prologis China Core Logistics Fund, LP [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage		15.50%	15.30%
Ownership Percentage in property fund		$ 92,863	$ 75,922
Nippon Prologis REIT Inc [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage	[4]	15.10%	15.10%
Ownership Percentage in property fund	[4]	$ 614,933	$ 684,029
Prologis China Logistics Venture [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage	[2]	15%	15%
Ownership Percentage in property fund	[2]	$ 111,906	$ 120,283
Prologis UK Logistics Venture [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage	[2],[3]	0%	15%
Ownership Percentage in property fund	[2],[3]	$ 0	$ 9,243
Prologis Brazil Logistics Venture and other joint ventures [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership Percentage	[2]	20%	20%
Ownership Percentage in property fund	[2]	$ 181,354	$ 145,571
[1]At December 31, 2022, we owned 489.1 million units of FIBRA Prologis that had a closing price of Ps 55.83 ($2.88) 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. 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 was a $9.2 million outstanding receivable balance that was paid in the second quarter of 2022 At December 31, 2022, we owned 0.4 million units of NPR that had a closing price of ¥308,500 ($2,339) 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, 2022 USD ($) $ / shares shares	Dec. 31, 2022 $ / shares	Dec. 31, 2022 ¥ / shares	Dec. 31, 2021 USD ($)
FIBRA Prologis [Member]
Schedule Of Equity Method Investments [Line Items]
Units outstanding | shares	489.1
Closing price of common stock | (per share)	$ 2.88	$ 55.83
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)	$ 2,339		¥ 308,500
Receivables from unconsolidated co-investment ventures | $	$ 161.4			$ 175.2

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Equity Method Investments [Line Items]
Recurring fees		$ 455,385	$ 395,765	$ 318,423
Transactional fees		67,048	78,552	65,804
Promote revenue		503,779	77,199	239,268
Total strategic capital revenues from unconsolidated co-investment ventures	[1]	$ 1,026,212	$ 551,516	$ 623,495
[1] Includes promote revenue earned primarily from PELF in September 2022 and USLF in June 2020.

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, 2022 USD ($) ft² Property Venture		Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) ft² Property Venture		Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2022 USD ($) ft² Property Venture		Dec. 31, 2021 USD ($) ft² Property Venture		Dec. 31, 2020 USD ($)
Schedule Of Equity Method Investments [Line Items]
Total assets		$ 87,897,448					$ 58,486,220					$ 87,897,448		$ 58,486,220
Total liabilities		30,034,355					20,744,010					30,034,355		20,744,010
Total revenues		1,751,592		$ 1,750,892	$ 1,252,080	$ 1,219,128	1,277,233		$ 1,183,049	$ 1,150,842	$ 1,148,316	5,973,692		4,759,440		$ 4,438,735
Consolidated net earnings		$ 620,066		$ 1,069,174	$ 646,436	$ 1,219,722	$ 1,300,853		$ 797,731	$ 650,313	$ 399,693	3,555,398		3,148,590		1,616,630
Our earnings from unconsolidated co-investment ventures, net												$ 310,872		$ 404,255		297,370
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		8					8					8		8
Operating properties | Property		2,205					2,007					2,205		2,007
Square feet | ft²		491					458					491		458
Total assets		$ 48,827,000					$ 44,087,000					$ 48,827,000		$ 44,087,000
Third-party debt		13,513,000					12,015,000					13,513,000		12,015,000
Total liabilities		16,725,000					15,137,000					16,725,000		15,137,000
Our investment balance	[1]	$ 8,074,000					$ 7,825,000					8,074,000		7,825,000
Total revenues												3,618,000		3,400,000		3,016,000
Consolidated net earnings												1,036,000		1,662,000		905,000
Our earnings from unconsolidated co-investment ventures, net												$ 295,000		$ 366,000		240,000
UNITED STATES | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		1					1					1		1
Operating properties | Property		739					732					739		732
Square feet | ft²		123					122					123		122
Total assets		$ 12,617,000					$ 11,619,000					$ 12,617,000		$ 11,619,000
Third-party debt		3,468,000					3,069,000					3,468,000		3,069,000
Total liabilities		4,143,000					3,717,000					4,143,000		3,717,000
Our investment balance	[1]	$ 2,398,000					$ 2,393,000					2,398,000		2,393,000
Total revenues												1,182,000		1,039,000		946,000
Consolidated net earnings												292,000		312,000		169,000
Our earnings from unconsolidated co-investment ventures, net												$ 79,000		$ 82,000		46,000
Europe [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		2					2	[2]				2		2	[2]
Operating properties | Property		260					254	[2]				260		254	[2]
Square feet | ft²		60					56	[2]				60		56	[2]
Total assets		$ 3,744,000					$ 3,349,000	[2]				$ 3,744,000		$ 3,349,000	[2]
Third-party debt		919,000					1,052,000	[2]				919,000		1,052,000	[2]
Total liabilities		1,011,000					1,116,000	[2]				1,011,000		1,116,000	[2]
Our investment balance	[1]	$ 1,070,000					$ 840,000	[2]				1,070,000		840,000	[2]
Total revenues												383,000		321,000	[2]	278,000	[2]
Consolidated net earnings												137,000		120,000	[2]	91,000	[2]
Our earnings from unconsolidated co-investment ventures, net												$ 47,000		$ 43,000	[2]	34,000	[2]
Europe [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		2	[2]				2					2	[2]	2
Operating properties | Property		989	[2]				818					989	[2]	818
Square feet | ft²		219	[2]				198					219	[2]	198
Total assets		$ 22,502,000	[2]				$ 18,373,000					$ 22,502,000	[2]	$ 18,373,000
Third-party debt		5,315,000	[2]				3,737,000					5,315,000	[2]	3,737,000
Total liabilities		7,292,000	[2]				5,619,000					7,292,000	[2]	5,619,000
Our investment balance	[1]	$ 3,786,000	[2]				$ 3,712,000					3,786,000	[2]	3,712,000
Total revenues												1,424,000	[2]	1,387,000		1,208,000
Consolidated net earnings												493,000	[2]	1,070,000		390,000
Our earnings from unconsolidated co-investment ventures, net												$ 150,000	[2]	$ 214,000		121,000
Europe [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		3					3					3		3
Operating properties | Property		217					203					217		203
Square feet | ft²		89					82					89		82
Total assets		$ 9,964,000					$ 10,746,000					$ 9,964,000		$ 10,746,000
Third-party debt		3,811,000					4,157,000					3,811,000		4,157,000
Total liabilities		4,279,000					4,685,000					4,279,000		4,685,000
Our investment balance	[1]	$ 820,000					$ 880,000					820,000		880,000
Total revenues												629,000		653,000		584,000
Consolidated net earnings												114,000		160,000		255,000
Our earnings from unconsolidated co-investment ventures, net												$ 19,000		$ 27,000		$ 39,000
Weighted Average [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	27.40%					26.90%					27.40%		26.90%
Weighted Average [Member] | UNITED STATES | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	26.20%					27%					26.20%		27%
Weighted Average [Member] | Europe [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	41%					40.80%	[2]				41%		40.80%	[2]
Weighted Average [Member] | Europe [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	31%	[2]				30.90%					31%	[2]	30.90%
Weighted Average [Member] | Europe [Member] | Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	15.20%					15.10%					15.20%		15.10%
[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, 2022 and 2021, results principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018 ($546.9 million and $559.7 million, respectively); (ii) recording additional costs associated with our investment in the venture ($90.4 million and $96.6 million, respectively); (iii) receivables, principally for fees and promotes ($193.7 million and $149.5 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to NPR, as discussed above. PBLV and our other Brazilian joint ventures are combined as one venture for the purpose of this table.

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, 2022	Dec. 31, 2021
Equity Method Investments And Joint Ventures [Abstract]
Deferred gain recognized from contribution of property to a venture	$ 546.9	$ 559.7
Additional costs associated with investment in a venture	90.4	96.6
Receivables from unconsolidated co-investment ventures	$ 193.7	$ 149.5

Unconsolidated Entities - Addit

Unconsolidated Entities - Additional Information (Detail) - Prologis, Inc. [Member] $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 287.6
Expiration date for remaining commitments range start	2023
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, 2022 USD ($) ft² Property	Dec. 31, 2021 USD ($) ft² Property
Long Lived Assets Held For Sale [Line Items]
Total assets held for sale or contribution	$ 531,257	$ 669,688
Total liabilities associated with assets held for sale or contribution – included in Other Liabilities	$ 4,536	$ 10,631
Disposal Group Held for Sale Not Discontinued Operations [Member]
Long Lived Assets Held For Sale [Line Items]
Number of operating properties | Property	21	14
Square feet | ft²	4,061	5,486

Other Assets and Other Liabil_3

Other Assets and Other Liabilities - Schedule of Other Assets and Other Liabilities (Detail) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Other Assets And Other Liabilities Disclosure [Abstract]
Acquired lease intangibles	[1]	$ 1,183,006	$ 552,517
Lease right-of-use assets	[2]	$ 735,430	$ 459,364
Operating Lease Right Of Use Asset Statement Of Financial Position Extensible List		Total other assets	Total other assets
Rent leveling		$ 715,679	$ 578,960
Leasing commissions		650,127	520,778
Accounts receivable		377,996	424,240
Prepaid assets		239,483	153,591
Derivative assets		227,236	91,047
Value added taxes receivable		143,317	133,034
Fixed assets		119,897	118,044
Other notes receivable		116,537	35,970
Management contracts		11,048	12,282
Deferred income taxes		5,732	8,926
Other		276,011	223,701
Total other assets		4,801,499	3,312,454
Acquired lease intangibles	[1]	2,373,050	198,894
Lease liabilities	[2]	638,811	448,445
Tenant security deposits		419,409	373,432
Unearned rents		305,299	164,669
Environmental liabilities		209,935	86,920
Deferred income taxes		99,757	75,007
Indemnification liability		44,356	44,416
Deferred income		24,481	21,699
Value added taxes payable		15,160	17,556
Derivative liabilities		6,682	9,675
Total liabilities associated with assets held for sale or contribution – included in Other Liabilities		4,536	10,631
Other		305,033	324,845
Total other liabilities		$ 4,446,509	$ 1,776,189
[1] Included in acquired lease intangible assets and liabilities were $832.5 million of intangible assets and $2.3 billion of intangible liabilities from the Duke Transaction, respectively. These assets and liabilities will be amortized over the terms of the respective leases with a weighted average remaining lease term of 64 months. See Note 3 for more information. 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.

Other Assets and Other Liabil_4

Other Assets and Other Liabilities - Schedule of Other Assets and Other Liabilities (Parenthetical) (Detail) - Duke Transaction [Member] $ in Millions	Dec. 31, 2022 USD ($)
Other Assets And Other Liabilities [Line Items]
Intangible assets, net of intangible liabilities	$ 832.5
Intangible liabilities	$ 2,300
Weighted average remaining lease term	64 months

Other Assets and Other Liabil_5

Other Assets and Other Liabilities - Schedule of Amortization Expense and Rental Revenues (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)
Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]
Amortization Expense 2023	$ 421,196
Amortization Expense 2024	323,562
Amortization Expense 2025	257,560
Amortization Expense 2026	202,120
Amortization Expense 2027	152,028
Amortization Expense Thereafter	376,559
Amortization Expense Totals	1,733,025
2023	479,339
2024	343,066
2025	231,108
2026	157,520
2027	112,213
Thereafter	234,017
Total	$ 1,557,263

Debt - Debt Summary (Detail)

Debt - Debt Summary (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.50%	1.60%
Weighted Average Year	9 years 2 months 12 days	10 years 4 months 24 days
Debt	$ 23,875,961	$ 17,715,054
Credit Facilities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	4.20%	0.80%
Weighted Average Year	2 years 9 months 18 days	1 year 7 months 6 days
Debt	$ 1,538,461	$ 491,393
Senior Notes [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.30%	1.70%
Weighted Average Year	10 years 3 months 18 days	11 years 7 months 6 days
Debt	$ 19,786,253	$ 14,981,690
Term Loans and Unsecured Other [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.30%	0.50%
Weighted Average Year	4 years 10 months 24 days	4 years 2 months 12 days
Debt	$ 2,106,592	$ 1,825,195
Secured Mortgage [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	3%	5.10%
Weighted Average Year	4 years 3 months 18 days	4 years 8 months 12 days
Debt	$ 444,655	$ 416,776

Debt - Debt Summary (Parentheti

Debt - Debt Summary (Parenthetical) (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)	Dec. 31, 2022 USD ($) Property	Oct. 03, 2022 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Weighted Average Interest Rate		2.50%		1.60%
Debt		$ 23,875,961		$ 17,715,054
Percentage of outstanding debt		100%		100%
Repayments of assumed debt	$ 750,000
Number of operating properties securing mortgage debt of consolidated entities | Property		21
Number of properties under development securing mortgage debt | Property		2
Number of other real estate investments securing mortgage debt | Property		2
Number of prestabilized properties securing mortgage debt | Property		1
Number of land parcel securing mortgage debt of consolidated entities | Property		1
Mortgage notes, aggregate cost of secured properties		$ 1,300,000
Senior Notes [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate		2.30%		1.70%
Debt		$ 19,786,253		$ 14,981,690
Senior Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Effective Interest Rate		0.30%
Senior Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Effective Interest Rate		5.30%
Credit Facilities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate		4.20%		0.80%
Debt		$ 1,538,461		$ 491,393
Secured Mortgage [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate		3%		5.10%
Debt		$ 444,655		$ 416,776
Secured Mortgage [Member] | Minimum [Member]
Debt Instrument [Line Items]
Effective Interest Rate		0.40%
Secured Mortgage [Member] | Maximum [Member]
Debt Instrument [Line Items]
Effective Interest Rate		7%
Duke Transaction [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate			2.30%
Debt			$ 4,200,000
Weighted average interest rate fair value			4.90%
Duke Transaction [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Debt			$ 501,200
Duke Transaction [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Debt			2,900,000
Duke Transaction [Member] | Credit Facilities [Member]
Debt Instrument [Line Items]
Debt			746,400
Duke Transaction [Member] | Secured Mortgage [Member]
Debt Instrument [Line Items]
Debt			$ 34,200
GBP
Debt Instrument [Line Items]
Weighted Average Interest Rate		2.10%		2.10%
Debt		$ 1,228,483		$ 1,376,807
Percentage of outstanding debt		5.10%		7.80%
CAD
Debt Instrument [Line Items]
Weighted Average Interest Rate		4.50%		2.70%
Debt		$ 814,491		$ 283,773
Percentage of outstanding debt		3.40%		1.60%
EUR
Debt Instrument [Line Items]
Weighted Average Interest Rate		1.30%		1%
Debt		$ 7,991,301		$ 7,408,407
Percentage of outstanding debt		33.50%		41.80%
JPY
Debt Instrument [Line Items]
Weighted Average Interest Rate		1%		0.90%
Debt		$ 3,308,009		$ 2,878,542
Percentage of outstanding debt		13.90%		16.20%
USD
Debt Instrument [Line Items]
Weighted Average Interest Rate		3.60%		2.60%
Debt		$ 10,533,677		$ 5,767,525
Percentage of outstanding debt		44.10%		32.60%

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, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 JPY (¥)	Oct. 06, 2022 USD ($)	Dec. 31, 2021 EUR (€)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 5,441,000	$ 4,940,000	$ 4,119,000
Losses on early extinguishment of debt, net				$ 20,184	187,453	188,290
Prologis Euro Finance L L C [Member]
Debt Instrument [Line Items]
Percentage of ownership in operating partnership			100%
Prologis Yen Finance LLC [Member]
Debt Instrument [Line Items]
Percentage of ownership in operating partnership		100%
Prologis Sterling Finance LLC [Member]
Debt Instrument [Line Items]
Percentage of ownership in operating partnership	100%
Duke’s Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate Principal								$ 3,400,000
Aggregate amount, validly tendered for exchange								$ 3,200,000
Aggregate amount, percentage of validly tendered for exchange								96%
Senior Notes with Stated Maturities of 2024 and 2025 [Member]
Debt Instrument [Line Items]
Redemption of senior notes					1,500,000
Senior Notes with Stated Maturities Between 2021 and 2024 [Member]
Debt Instrument [Line Items]
Redemption of senior notes						$ 2,600,000
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 2022 [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 3,000,000
Debt Instrument maturity date				2026-06
Ability to increase borrowing capacity subject to currency fluctuations and obtaining additional lender commitments				$ 4,000,000
Global Credit Facility 2021 [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 2,000,000
Debt Instrument maturity date				2024-04
Ability to increase borrowing capacity subject to currency fluctuations and obtaining additional lender commitments				$ 2,500,000
Yen Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 568,700			¥ 75
Debt Instrument maturity date				2024-07
Credit facility current borrowing capacity				$ 417,100			¥ 55

Debt - Schedule of Credit Facil

Debt - Schedule of Credit Facility Activity and Current Availability on Debt and Cash (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Weighted average daily interest rate	1.70%	1.30%	1.10%
Weighted average daily borrowings	$ 519,000	$ 60,000	$ 109,000
Maximum borrowings outstanding at any month-end	1,538,000	491,000	727,000
Credit facility maximum borrowing capacity	5,441,000	4,940,000	4,119,000
Borrowings outstanding	1,538,000	491,000	172,000
Outstanding letters of credit	38,000	7,000	24,000
Current availability	3,865,000	4,442,000	3,923,000
Available term loans	0	0	250,000
Cash and cash equivalents	278,483	556,117	598,000
Total liquidity	$ 4,143,000	$ 4,998,000	$ 4,771,000

Debt - Summary of Issuances and

Debt - Summary of Issuances and Redemptions of Senior Notes (Detail) - Issuance of Senior Notes € in Thousands, ¥ in Thousands, £ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2022 JPY (¥)	Dec. 31, 2022 GBP (£)	Dec. 31, 2022 EUR (€)
Debt Instrument [Line Items]
Aggregate Principal	$ 3,265,831
Weighted Average [Member]
Debt Instrument [Line Items]
Years	9 years 2 months 12 days
Interest Rate	2.30%	2.30%	2.30%	2.30%
December 2041 Senior Notes [Member] | GBP
Debt Instrument [Line Items]
Debt Instrument maturity month	2041-12
Aggregate Principal	$ 80,932		£ 60,000
December 2041 Senior Notes [Member] | GBP | Weighted Average [Member]
Debt Instrument [Line Items]
Years	20 years
Interest Rate	2.10%	2.10%	2.10%	2.10%
February 2024 Senior Notes [Member] | EUR
Debt Instrument [Line Items]
Debt Instrument maturity month	2024-02
Aggregate Principal	$ 1,768,240			€ 1,550,000
February 2024 Senior Notes [Member] | EUR | Weighted Average [Member]
Debt Instrument [Line Items]
Years	8 years 6 months
Interest Rate	1%	1%	1%	1%
July 2027 Senior Notes [Member] | JPY
Debt Instrument [Line Items]
Debt Instrument maturity month	2027-07
Aggregate Principal	$ 226,588	¥ 30,964,500
July 2027 Senior Notes [Member] | JPY | Weighted Average [Member]
Debt Instrument [Line Items]
Years	15 years 6 months
Interest Rate	1.40%	1.40%	1.40%	1.40%
February 2034 Senior Notes [Member] | EUR
Debt Instrument [Line Items]
Debt Instrument maturity month	2034-02
January 2033 Senior Notes [Member] | USD
Debt Instrument [Line Items]
Debt Instrument maturity month	2033-01
Aggregate Principal	$ 650,000			€ 650,000
January 2033 Senior Notes [Member] | USD | Weighted Average [Member]
Debt Instrument [Line Items]
Years	10 years 3 months 18 days
Interest Rate	4.60%	4.60%	4.60%	4.60%
July 2042 Senior Notes [Member] | JPY
Debt Instrument [Line Items]
Debt Instrument maturity month	2042-07
December 2027 Senior Notes [Member] | JPY
Debt Instrument [Line Items]
Debt Instrument maturity month	2027-12
Aggregate Principal	$ 177,560	¥ 24,200,000
December 2027 Senior Notes [Member] | JPY | Weighted Average [Member]
Debt Instrument [Line Items]
Years	13 years 4 months 24 days
January 2031 Senior Notes [Member] | USD
Debt Instrument [Line Items]
Debt Instrument maturity month	2031-01
Aggregate Principal	$ 362,511			€ 500,000
January 2031 Senior Notes [Member] | USD | Weighted Average [Member]
Debt Instrument [Line Items]
Years	8 years 2 months 12 days
Interest Rate	5.30%	5.30%	5.30%	5.30%
December 2037 Senior Notes [Member] | JPY
Debt Instrument [Line Items]
Debt Instrument maturity month	2037-12

Debt - Summary of Outstanding T

Debt - Summary of Outstanding Term Loans (Detail)		12 Months Ended
		Dec. 31, 2022 USD ($)	Dec. 31, 2022 JPY (¥)	Dec. 31, 2022 CAD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity		$ 5,441,000,000			$ 4,940,000,000	$ 4,119,000,000
Subtotal		24,448,236,000
Debt issuance costs, net		(91,139,000)
Total term loans		1,538,000,000			491,000,000	$ 172,000,000
Term Loan [Member]
Debt Instrument [Line Items]
Subtotal		2,101,665,000			1,367,715,000
Debt issuance costs, net		(5,007,000)			(5,169,000)
Total term loans		$ 2,096,658,000			1,362,546,000
2015 Canadian Term Loan [Member] | CAD
Debt Instrument [Line Items]
Issuance Date	[1]	Dec. 31, 2015
Credit facility maximum borrowing capacity	[1]	$ 0
Subtotal	[1]	$ 0			134,173,000
Interest Rate, Description	[1]	CDOR + 0.9%
Interest rate	[1]	0.90%
Debt Instrument maturity date	[2]	2023-02
2022 Canadian Term Loan [Member] | CAD
Debt Instrument [Line Items]
Issuance Date	[1]	Aug. 31, 2022
Credit facility maximum borrowing capacity		$ 221,600,000		$ 300,000,000
Subtotal	[1]	$ 221,593,000			0
Interest Rate, Description	[1]	CDOR + spread
Debt Instrument maturity date	[1]	2025-08
March 2017 Yen Term Loan [Member] | JPY
Debt Instrument [Line Items]
Issuance Date		Mar. 31, 2017
Credit facility maximum borrowing capacity		$ 90,994,000	¥ 12,000,000,000
Subtotal		$ 90,994,000			104,243,000
October 2017 Yen Term Loan [Member] | JPY
Debt Instrument [Line Items]
Issuance Date		Oct. 31, 2017
Credit facility maximum borrowing capacity		$ 75,828,000	¥ 10,000,000,000
Subtotal		$ 75,828,000			86,869,000
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		$ 151,656,000	¥ 20,000,000,000
Subtotal		$ 151,656,000			173,738,000
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		$ 113,742,000	15,000,000,000
Subtotal		$ 113,742,000			130,304,000
Interest Rate, Description		Yen LIBOR + 0.5% to 0.6%
June 2022 Yen Term Loan [Member] | JPY
Debt Instrument [Line Items]
Issuance Date		Jun. 30, 2022
Credit facility maximum borrowing capacity		$ 189,570,000	25,000,000,000
Subtotal		$ 189,570,000			0
March 2019 Yen Term Loan [Member] | JPY
Debt Instrument [Line Items]
Issuance Date		Mar. 31, 2019
Credit facility maximum borrowing capacity		$ 644,540,000	85,000,000,000
Subtotal		$ 644,540,000			738,388,000
Interest Rate, Description		Yen LIBOR + 0.4%
Interest rate		0.40%
Debt Instrument maturity date		2026-03
2022 U.S. Dollar Term Loan [Member] | USD
Debt Instrument [Line Items]
Issuance Date	[2]	Oct. 31, 2022
Credit facility maximum borrowing capacity	[2]	$ 500,000,000
Subtotal	[2]	$ 500,000,000			0
Interest Rate, Description	[2]	SOFR + 0.1%
Interest rate	[2]	0.10%
Debt Instrument maturity date	[2]	2025-03
December 2022 Yen Term [Member] | JPY
Debt Instrument [Line Items]
Issuance Date		Dec. 31, 2022
Credit facility maximum borrowing capacity		$ 113,742,000	¥ 15,000,000,000
Subtotal		$ 113,742,000			$ 0
Interest Rate, Description		1.4%
Debt Instrument maturity date		2033-12
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%	1%	1%
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
June 2022 Yen Term Loan Tranche One [Member] | JPY
Debt Instrument [Line Items]
Interest rate, fixed		1.10%	1.10%	1.10%
Debt Instrument maturity date		2032-06
June 2022 Yen Term Loan Tranche Two [Member] | JPY
Debt Instrument [Line Items]
Interest rate, fixed		1.20%	1.20%	1.20%
Debt Instrument maturity date		2034-06
[1] In July 2022, we paid down our existing term loan in Canada of CAD $170.5 million ($133.5 million) and entered into a new term loan in Canada (“2022 Canadian Term Loan”) for CAD $300.0 million ($221.6 million at December 31, 2022), bearing interest at the Canada Dollar Offered Rate (“CDOR”) plus a spread over the applicable benchmark. We can extend the maturity date on the 2022 Canadian Term Loan by one year on two occasions, subject to the payment of extension fees. As the CDOR interest rate will transition to the Canadian Overnight Repo Rate Average prior to June 30, 2024, we anticipate modifying the interest rate on this loan prior to this transition and do not expect it to have a material impact on our Consolidated Financial Statements This term loan was acquired in the Duke Transaction.

Debt - Summary of Outstanding_2

Debt - Summary of Outstanding Term Loans (Parenthetical) (Detail)	1 Months Ended		12 Months Ended
	Jul. 31, 2022 USD ($)	Jul. 31, 2022 CAD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 CAD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Repayment of term loan			$ 750,000,000
Credit facility maximum borrowing capacity			$ 4,119,000,000	$ 5,441,000,000		$ 4,940,000,000
Term Loan [Member] | CAD
Debt Instrument [Line Items]
Repayment of term loan	$ 133,500,000	$ 170,500,000
2022 Canadian Term Loan [Member] | CAD
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 221,600,000	$ 300,000,000

Debt - Long-Term Debt Maturitie

Debt - Long-Term Debt Maturities (Detail) - USD ($) $ in Thousands		Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
2023	[1]	$ 32,940
2024	[2]	902,154
2025	[3]	907,418
2026	[4]	3,072,884
2027		1,805,363
Thereafter		17,727,477
Subtotal		24,448,236
Unamortized premiums (discounts), net		(481,136)
Unamortized debt issuance costs, net		(91,139)
Total		23,875,961	$ 17,715,054
Credit Facilities [Member]
Debt Instrument [Line Items]
2023	[1]	0
2024	[2]	486,795
2025	[3]	0
2026	[4]	1,051,666
2027		0
Thereafter		0
Subtotal		1,538,461
Unamortized premiums (discounts), net		0
Unamortized debt issuance costs, net		0
Total		1,538,461	491,393
Senior Notes [Member]
Debt Instrument [Line Items]
2023	[1]	0
2024	[2]	319,980
2025	[3]	37,914
2026	[4]	1,308,179
2027		1,746,859
Thereafter		16,949,473
Subtotal		20,362,405
Unamortized premiums (discounts), net		(490,968)
Unamortized debt issuance costs, net		(85,184)
Total		19,786,253	14,981,690
Term Loans and Unsecured Other [Member]
Debt Instrument [Line Items]
2023	[1]	0
2024	[2]	0
2025	[3]	722,711
2026	[4]	644,605
2027		54,348
Thereafter		688,869
Subtotal		2,110,533
Unamortized premiums (discounts), net		1,066
Unamortized debt issuance costs, net		(5,007)
Total		2,106,592	1,825,195
Secured Mortgage [Member]
Debt Instrument [Line Items]
2023	[1]	32,940
2024	[2]	95,379
2025	[3]	146,793
2026	[4]	68,434
2027		4,156
Thereafter		89,135
Subtotal		436,837
Unamortized premiums (discounts), net		8,766
Unamortized debt issuance costs, net		(948)
Total		$ 444,655	$ 416,776
[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 2024 maturities is the 2021 Global Facility and Yen Credit Facility that can be extended until 2025. Included in the 2026 maturities is the 2022 Global Facility that can be extended until 2027.

Debt - Long-Term Debt Maturit_2

Debt - Long-Term Debt Maturities (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2022
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, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Gross interest expense	$ 345,398	$ 299,115	$ 348,427
Amortization of debt discounts (premiums), net	6,602	(7,478)	(6,741)
Amortization of debt issuance costs, net	17,134	16,134	14,600
Interest expense before capitalization	369,134	307,771	356,286
Capitalized amounts	(60,097)	(41,543)	(41,779)
Net interest expense	309,037	266,228	314,507
Total cash paid for interest, net of amounts capitalized	$ 234,131	$ 278,861	$ 309,390

Stockholders' Equity of Prolo_3

Stockholders' Equity of Prologis Inc. - Additional Information (Detail) $ / shares in Units, $ in Thousands		12 Months Ended
	Oct. 03, 2022 shares	Dec. 31, 2022 shares	Dec. 31, 2021	Dec. 31, 2020 USD ($) Agent $ / shares shares
Shareholders Equity [Line Items]
Aggregate price of shares repurchased and retired | $				$ 34,829
Beneficial interest of outstanding shares		50%
Beneficial interest of outstanding shares by single person or persons acting as group		9.80%
Percentage of ownership restrictions		25%
Percentage of REIT taxable income computed without regard to the dividends paid deduction and net capital gains		90%
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%
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	182,700,000

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, 2022	[1]	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Ordinary income	$ 3.08		$ 2.45	$ 2.12
Qualified dividend	0.02		0	0
Capital gains	0.06		0.07	0.20
Total distribution	3.16		2.52	2.32
Series Q Preferred Stock [Member]
Class of Stock [Line Items]
Ordinary income	4.16		4.15	3.96
Qualified dividend	0.02		0.01	0.02
Capital gains	0.09		0.11	0.29
Total distribution	$ 4.27		$ 4.27	$ 4.27
[1] Taxability for 2022 is estimated.

Partners' Capital of Prologis_2

Partners' Capital of Prologis, L.P. - Additional Information (Detail) - $ / shares shares in Millions			12 Months Ended
	Oct. 03, 2023	Feb. 04, 2020	Dec. 31, 2022		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2015
Shareholders Equity [Line Items]
Distributions paid			$ 3.16	[1]	$ 2.52	$ 2.32
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] | Duke Transaction [Member]
Shareholders Equity [Line Items]
Issuance of units related to acquisitions, units	2.1
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 2022 is estimated.

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022
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, 2022	Dec. 31, 2021
Minority Interest [Line Items]
Total Assets		$ 87,897,448	$ 58,486,220
Operating Partnership noncontrolling interest		3,317,767	3,397,538
Operating Partnership noncontrolling interest		4,625,811	4,315,337
Total Liabilities		30,034,355	20,744,010
Noncontrolling Interests [Member]
Minority Interest [Line Items]
Total Assets		8,962,749	8,850,431
Total Liabilities		$ 417,977	$ 310,143
Prologis U S Logistics Venture [Member]
Minority Interest [Line Items]
Parent Company's Ownership Percentage		55%	55%
Total Assets		$ 7,225,438	$ 7,397,195
Operating Partnership noncontrolling interest		3,182,858	3,264,337
Total Liabilities		$ 158,453	$ 147,545
Other Consolidated Entities [Member]
Minority Interest [Line Items]
Parent Company's Ownership	[1]	various	various
Total Assets	[1]	$ 1,737,311	$ 1,453,236
Operating Partnership noncontrolling interest	[1]	134,909	133,201
Total Liabilities	[1]	259,524	162,598
Prologis, L.P. [Member]
Minority Interest [Line Items]
Total Assets		87,897,448	58,486,220
Operating Partnership noncontrolling interest		3,317,767	3,397,538
Total Liabilities		30,034,355	20,744,010
Prologis, L.P. [Member] | Noncontrolling Interests [Member]
Minority Interest [Line Items]
Limited partners in Prologis, L.P.	[2],[3]	1,308,044	917,799
Total Assets	[2],[3]	0	0
Total Liabilities	[2],[3]	0	0
Prologis, Inc. [Member]
Minority Interest [Line Items]
Total Assets		8,962,749	8,850,431
Total Liabilities		417,977	310,143
Prologis, Inc. [Member] | Noncontrolling Interests [Member]
Minority Interest [Line Items]
Operating Partnership noncontrolling interest		$ 4,625,811	$ 4,315,337
[1]Includes 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, 2022 and 2021 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, 10.0 million and 8.4 million shares of the Parent’s common stock, at December 31, 2022 and 2021, respectively. Also included are the vested OP Long-Term Incentive Plan Units (“LTIP Units”) associated with our long-term compensation plans of 4.6 million and 4.0 million shares of the Parent’s common stock at December 31, 2022 and 2021, respectively. See further discussion of LTIP Units in Note 12. We had 8.6 million Class A Units at December 31, 2022 and 2021 that were convertible into 8.0

Noncontrolling Interests - No_2

Noncontrolling Interests - Noncontrolling Interest Summary (Parenthetical) (Detail) - shares shares in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Long Term Incentive Plan Units [Member]
Minority Interest [Line Items]
Vested LTIP Units	4.6	4
Class A Common [Member]
Minority Interest [Line Items]
Outstanding limited partnership units, exchanged	8	8
Units outstanding	8.6	8.6
Common Unit [Member]
Minority Interest [Line Items]
Outstanding limited partnership units, exchanged	10	8.4
Other Consolidated Entities [Member]
Minority Interest [Line Items]
Outstanding limited partnership units, exchanged	0.3	0.3
Other Consolidated Entities [Member] | Common Stock [Member]
Minority Interest [Line Items]
Outstanding limited partnership units	2	2

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate fair value		$ 30,400,000	$ 30,300,000	$ 28,800,000
Assumed risk free interest rate		1%	0.20%	1.70%
Percentage of employees annual compensation within the statutory compensation limit			12%	6%
Vesting percentage on defined contribution plan		100%
Vesting period for acquired plan		1 year
Compensation cost related to employees contribution plans		$ 8,100,000	$ 5,800,000	$ 5,900,000
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		$ 48,600,000	32,600,000
Remaining compensation cost weighted average period		1 year 4 months 24 days
Grant date fair value of stock awards granted		$ 98,900,000	74,500,000
Compensation cost		90,900,000
Long Term Incentive Plan Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate fair value		84,300,000	82,200,000
Grant date fair value of stock awards granted		$ 188,800,000	$ 86,600,000
LTIP Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Remaining compensation cost weighted average period		1 year 4 months 24 days
Compensation cost		$ 176,500,000
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		33.3
Securities issued upon options, warrants and rights		5.7
Common stock available for future issuance		21
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%
Performance pool as percentage of excess value, if outperformance hurdle is met		3%
Forfeited awards after seven years		7 years
Expected volatility rate		31%	32%	19%
Total remaining compensation cost related to the POP		$ 62,500,000
Remaining compensation cost weighted average period		2 years 9 months 18 days
Initial performance period		3 years
Prologis Out-Performance Plan [Member] | 2022 - 2024 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] | 2022 - 2024 Performance Period [Member] | Tranche 1 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rights, percentage	20%
Prologis Out-Performance Plan [Member] | 2022 - 2024 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%
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%

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk free interest rate	1%	0.20%	1.70%
Aggregate fair value	$ 30,400	$ 30,300	$ 28,800
Prologis Out-Performance Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility rate	31%	32%	19%
MSCI US REIT [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility rate	29%	29%	13%

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, 2023	Jan. 31, 2022	Jan. 31, 2021	Jan. 31, 2020
2020 - 2022 Performance Period [Member] | Subsequent Event [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance pool		$ 100,000
Common stock shares		53
Restricted stock units		211
POP LTIP Units and LTIP Units		623
Average price used to determine number of awards		$ 112.74
2019 - 2021 Performance Period [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]				$ 142,133
Common stock shares	[1]				443
POP LTIP Units and LTIP Units	[1]				930
Average price used to determine number of awards	[1]				$ 103.56
[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 $75.0 million aggregate initial award amounts can be earned at the end of each

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, 2022 USD ($)
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, 2022 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Unvested Awards, Beginning Balance | shares	1,237
Granted | shares	838
Vested and distributed | shares	(502)
Forfeited | shares	(40)
Number of Unvested Awards, Ending Balance | shares	1,533
Weighted Average Grant Date Fair Value | $ / shares	$ 87.87
Weighted Average Grant Date Fair Value, Granted | $ / shares	118.05
Weighted Average Grant Date Fair Value, Vested and distributed | $ / shares	96.74
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	121.42
Weighted Average Grant Date Fair Value | $ / shares	$ 100.59

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, 2022 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Unvested Awards, Beginning Balance | shares	3,317
Granted | shares	1,831
Vested LTIP Units | shares	(934)
Number of Unvested Awards, Ending Balance | shares	4,214
Weighted Average Grant Date Fair Value | $ / shares	$ 61.65
Weighted Average Grant Date Fair Value, Granted | $ / shares	103.13
Weighted Average Grant Date Fair Value, Vested LTIP Units | $ / shares	90.30
Weighted Average Grant Date Fair Value | $ / shares	$ 73.31

Income Taxes - Components of Ea

Income Taxes - Components of Earnings Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Domestic	$ 2,423,809	$ 2,208,168	$ 1,030,609
International	1,267,001	1,114,680	716,479
Earnings before income taxes	$ 3,690,810	$ 3,322,848	$ 1,747,088

Income Taxes - Components of Pr

Income Taxes - Components of Provision for Income Tax (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current income tax expense (benefit):
U.S. federal	$ (6,645)	$ 58,906	$ 48,440
International	112,489	103,488	65,720
State and local	16,930	10,542	15,554
Total current income tax expense	122,774	172,936	129,714
Deferred income tax expense (benefit):
U.S. federal	3,359	2,895	(2,464)
International	9,279	(1,573)	3,208
Total deferred income tax expense	12,638	1,322	744
Total income tax expense	$ 135,412	$ 174,258	$ 130,458

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Cash paid for income taxes, net of refunds	$ 130	$ 148.7	$ 100.7

Income Taxes - Deferred Income

Income Taxes - Deferred Income Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Gross deferred income tax assets:
NOL carryforwards	$ 229,410	$ 272,713
Basis difference – real estate properties	94,610	99,984
Basis difference – equity investments	17,042	8,462
Section 163(j) interest limitation	2,218	1,599
Capital loss carryforward	6,903	14,238
Other – temporary differences	9,250	10,027
Total gross deferred income tax assets	359,433	407,023
Valuation allowance	(295,834)	(337,587)
Gross deferred income tax assets, net of valuation allowance	63,599	69,436
Gross deferred income tax liabilities:
Basis difference – real estate properties	116,102	104,292
Basis difference – equity investments	40,333	30,276
Other – temporary differences	1,189	949
Total gross deferred income tax liabilities	157,624	135,517
Net deferred income tax liabilities	$ 94,025	$ 66,081

Income Taxes - Summary of Opera

Income Taxes - Summary of Operating Loss Carryforwards (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
Tax-effected NOL carryforward	$ 229,410	$ 272,713
U.S. [Member]
Operating Loss Carryforwards [Line Items]
Gross NOL carryforward	68,491
Tax-effected NOL carryforward	17,415
Valuation allowance	16,811
Net deferred tax asset – NOL carryforward	$ 604
Expiration periods	2023 – 2042
Europe [Member]
Operating Loss Carryforwards [Line Items]
Gross NOL carryforward	$ 564,972
Tax-effected NOL carryforward	142,330
Valuation allowance	137,055
Net deferred tax asset – NOL carryforward	$ 5,275
Expiration periods	2023 – indefinite
Mexico [Member]
Operating Loss Carryforwards [Line Items]
Gross NOL carryforward	$ 161,964
Tax-effected NOL carryforward	51,290
Valuation allowance	51,290
Net deferred tax asset – NOL carryforward	$ 0
Expiration periods	2023 – 2033
Japan [Member]
Operating Loss Carryforwards [Line Items]
Gross NOL carryforward	$ 62,563
Tax-effected NOL carryforward	9,258
Valuation allowance	9,258
Net deferred tax asset – NOL carryforward	$ 0
Expiration periods	2023 – 2032
Other [Member]
Operating Loss Carryforwards [Line Items]
Gross NOL carryforward	$ 36,810
Tax-effected NOL carryforward	9,117
Valuation allowance	9,117
Net deferred tax asset – NOL carryforward	$ 0
Expiration periods	2023 – indefinite

Earnings Per Common Share or _3

Earnings Per Common Share or Unit - Computation of Basic and Diluted Earnings Per Share or Unit (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic		$ 585,754	$ 1,013,933	$ 609,855	$ 1,149,254	$ 1,247,124	$ 722,007	$ 598,625	$ 365,815	$ 3,358,796	$ 2,933,571	$ 1,473,122
Net earnings attributable to exchangeable limited partnership units	[1]									92,236	82,092	41,938
Adjusted net earnings attributable to common stockholders – Diluted										$ 3,451,032	$ 3,015,663	$ 1,515,060
Weighted average common shares/units outstanding - Basic										785,675	739,363	728,323
Incremental weighted average effect on exchange of limited partnership units	[1]									21,803	20,913	20,877
Incremental weighted average effect of equity awards										4,130	4,486	5,214
Weighted average common shares/partnership units outstanding - Diluted	[2]									811,608	764,762	754,414
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic		$ 0.64	$ 1.37	$ 0.82	$ 1.55	$ 1.68	$ 0.98	$ 0.81	$ 0.50	$ 4.28	$ 3.97	$ 2.02
Diluted		$ 0.63	$ 1.36	$ 0.82	$ 1.54	$ 1.67	$ 0.97	$ 0.81	$ 0.49	$ 4.25	$ 3.94	$ 2.01
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										$ 3,450,727	$ 3,015,363	$ 1,514,743
Net earnings attributable to exchangeable limited partnership units										305	300	317
Adjusted net earnings attributable to common stockholders – Diluted										$ 3,451,032	$ 3,015,663	$ 1,515,060
Weighted average common shares/units outstanding - Basic										799,153	751,973	740,860
Incremental weighted average effect on exchange of Class A convertible units										8,026	8,004	8,041
Incremental weighted average effect on exchange of limited partnership units										299	299	299
Incremental weighted average effect of equity awards										4,130	4,486	5,214
Weighted average common shares/partnership units outstanding - Diluted	[2]									811,608	764,762	754,414
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic										$ 4.28	$ 3.97	$ 2.02
Diluted										$ 4.25	$ 3.94	$ 2.01
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										$ (34,311)	$ (31,758)	$ (16,262)
Adjusted net earnings attributable to common stockholders – Diluted										34,311	31,758	16,262
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										$ 3,416,416	$ 2,983,605	$ 1,498,481
[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 or Unit (Parenthetical) (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potential dilutive shares and units outstanding	28,101	27,632	28,675
Prologis, L.P. [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potentially dilutive Class A Units	8,026	8,004	8,041
Total weighted average potentially dilutive other limited partnership units	299	299	299
Total weighted average potentially dilutive equity awards	6,298	6,719	7,798
Total weighted average potential dilutive shares and units outstanding	14,623	15,022	16,138
Total weighted average potential dilutive common limited partnership units	13,478	12,610	12,537

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, 2022	Dec. 31, 2021
Derivatives Fair Value [Line Items]
Asset	$ 227,236	$ 91,047
Liability	6,682	9,675
Undesignated Derivatives [Member] | Forwards [Member] | BRL
Derivatives Fair Value [Line Items]
Asset	35	664
Liability	494	0
Undesignated Derivatives [Member] | Forwards [Member] | GBP
Derivatives Fair Value [Line Items]
Asset	29,187	5,361
Liability	648	3,492
Undesignated Derivatives [Member] | Forwards [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	12,074	2,856
Liability	2	1,790
Undesignated Derivatives [Member] | Forwards [Member] | CNY
Derivatives Fair Value [Line Items]
Asset	657	0
Liability	364	550
Undesignated Derivatives [Member] | Forwards [Member] | EUR
Derivatives Fair Value [Line Items]
Asset	51,317	40,484
Liability	2,801	136
Undesignated Derivatives [Member] | Forwards [Member] | JPY
Derivatives Fair Value [Line Items]
Asset	34,022	23,341
Liability	2,344	0
Undesignated Derivatives [Member] | Forwards [Member] | SEK
Derivatives Fair Value [Line Items]
Asset	6,292	3,773
Liability	0	201
Designated As Hedging Instrument [Member] | Net Investment Hedges [Member] | GBP
Derivatives Fair Value [Line Items]
Asset	23,534	9,158
Liability	0	2,683
Designated As Hedging Instrument [Member] | Net Investment Hedges [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	24,552	5,410
Liability	0	823
Designated As Hedging Instrument [Member] | Cash Flow Hedges [Member] | Interest Rate Swaps [Member] | EUR
Derivatives Fair Value [Line Items]
Asset	44,982	0
Liability	0	0
Designated As Hedging Instrument [Member] | Cash Flow Hedges [Member] | Interest Rate Swaps [Member] | USD
Derivatives Fair Value [Line Items]
Asset	584	0
Liability	$ 29	$ 0

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Summary of Undesignated Foreign Currency Forwards Activity (Detail) - Forwards [Member] - Undesignated Derivatives [Member]	12 Months Ended
	Dec. 31, 2022 USD ($) Derivative	Dec. 31, 2021 USD ($) Derivative	Dec. 31, 2020 USD ($) Derivative
Derivative [Line Items]
Notional amounts at January 1	$ 1,662,000,000	$ 1,162,000,000	$ 1,107,000,000
New contracts	1,367,000,000	1,137,000,000	2,005,000,000
Matured, expired or settled contracts	(1,384,000,000)	(637,000,000)	(1,950,000,000)
Notional amounts at December 31	1,645,000,000	1,662,000,000	1,162,000,000
CAD
Derivative [Line Items]
Notional amounts at January 1	175,000,000	163,000,000	120,000,000
New contracts	172,000,000	225,000,000	88,000,000
Matured, expired or settled contracts	(64,000,000)	(213,000,000)	(45,000,000)
Notional amounts at December 31	$ 283,000,000	$ 175,000,000	$ 163,000,000
Weighted average forward rate at December 31	1.29	1.26	1.32
Active contracts at December 31 | Derivative	103	72	58
EUR
Derivative [Line Items]
Notional amounts at January 1	$ 749,000,000	$ 474,000,000	$ 581,000,000
New contracts	658,000,000	437,000,000	1,314,000,000
Matured, expired or settled contracts	(806,000,000)	(162,000,000)	(1,421,000,000)
Notional amounts at December 31	$ 601,000,000	$ 749,000,000	$ 474,000,000
Weighted average forward rate at December 31	1.18	1.22	1.23
Active contracts at December 31 | Derivative	97	86	64
GBP
Derivative [Line Items]
Notional amounts at January 1	$ 383,000,000	$ 207,000,000	$ 178,000,000
New contracts	264,000,000	308,000,000	364,000,000
Matured, expired or settled contracts	(298,000,000)	(132,000,000)	(335,000,000)
Notional amounts at December 31	$ 349,000,000	$ 383,000,000	$ 207,000,000
Weighted average forward rate at December 31	1.31	1.20	1.32
Active contracts at December 31 | Derivative	90	70	53
JPY
Derivative [Line Items]
Notional amounts at January 1	$ 250,000,000	$ 252,000,000	$ 182,000,000
New contracts	181,000,000	76,000,000	154,000,000
Matured, expired or settled contracts	(100,000,000)	(78,000,000)	(84,000,000)
Notional amounts at December 31	$ 331,000,000	$ 250,000,000	$ 252,000,000
Weighted average forward rate at December 31	109.79	103.14	102.66
Active contracts at December 31 | Derivative	96	74	59
Other
Derivative [Line Items]
Notional amounts at January 1	$ 105,000,000	$ 66,000,000	$ 46,000,000
New contracts	92,000,000	91,000,000	85,000,000
Matured, expired or settled contracts	(116,000,000)	(52,000,000)	(65,000,000)
Notional amounts at December 31	$ 81,000,000	$ 105,000,000	$ 66,000,000

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, 2022 USD ($) Contract	Dec. 31, 2021 USD ($) Contract	Dec. 31, 2020 USD ($) Contract
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Exercised contracts | Contract	158	161	173
Realized gains (losses) on the matured, expired or settled contracts	$ 145	$ (8)	$ (6)
Unrealized gains (losses) on the change in fair value of outstanding contracts	$ 39	$ 88	$ (13)

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, 2022 USD ($) Derivative	Dec. 31, 2021 USD ($) Derivative	Dec. 31, 2020 USD ($) Derivative
Derivative [Line Items]
Notional amounts at January 1	$ 967,000,000	$ 512,000,000	$ 484,000,000
New contracts	1,404,000,000	967,000,000	836,000,000
Matured, expired or settled contracts	(1,397,000,000)	(512,000,000)	(808,000,000)
Notional amounts at December 31	974,000,000	967,000,000	512,000,000
CAD
Derivative [Line Items]
Notional amounts at January 1	535,000,000	377,000,000	97,000,000
New contracts	964,000,000	535,000,000	377,000,000
Matured, expired or settled contracts	(965,000,000)	(377,000,000)	(97,000,000)
Notional amounts at December 31	$ 534,000,000	$ 535,000,000	$ 377,000,000
Weighted average forward rate at December 31	1.29	1.25	1.31
Active contracts at December 31 | Derivative	6	6	6
GBP
Derivative [Line Items]
Notional amounts at January 1	$ 432,000,000	$ 135,000,000	$ 387,000,000
New contracts	440,000,000	432,000,000	459,000,000
Matured, expired or settled contracts	(432,000,000)	(135,000,000)	(711,000,000)
Notional amounts at December 31	$ 440,000,000	$ 432,000,000	$ 135,000,000
Weighted average forward rate at December 31	1.28	1.37	1.35
Active contracts at December 31 | Derivative	4	4	1

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Notional amounts at January 1	$ 165,000	$ 415,000	$ 0
New contracts	1,692,000	0	1,665,000
Matured, expired or settled contracts	(1,260,000)	(250,000)	(1,250,000)
Notional amounts at December 31	597,000	165,000	415,000
EUR
Derivative [Line Items]
Notional amounts at January 1	165,000	165,000	0
New contracts	1,004,000	0	165,000
Matured, expired or settled contracts	(722,000)	0	0
Notional amounts at December 31	447,000	165,000	165,000
CAD
Derivative [Line Items]
Notional amounts at January 1	0
New contracts	184,000
Matured, expired or settled contracts	(184,000)
Notional amounts at December 31	0	0
USD
Derivative [Line Items]
Notional amounts at January 1	0	250,000	0
New contracts	400,000	0	1,500,000
Matured, expired or settled contracts	(250,000)	(250,000)	(1,250,000)
Notional amounts at December 31	150,000	0	$ 250,000
JPY
Derivative [Line Items]
Notional amounts at January 1	0
New contracts	104,000
Matured, expired or settled contracts	(104,000)
Notional amounts at December 31	$ 0	$ 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, 2022	Dec. 31, 2021	Dec. 31, 2020
British Pound Sterling Senior Notes [Member]
Derivatives Fair Value [Line Items]
Senior Notes Outstanding	$ 1,237	$ 624	$ 842
Canadian Dollar Senior Notes [Member]
Derivatives Fair Value [Line Items]
Senior Notes Outstanding	$ 370	$ 0	$ 0

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivatives Fair Value [Line Items]
Foreign currency translation gains (losses), net	$ 373,405	$ 305,929	$ (194,673)
Forward Contracts [Member]
Derivatives Fair Value [Line Items]
Foreign currency translation gains (losses), net	$ 44,000	$ 81,000	$ (139,000)

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative translation adjustment	$ 145,258	$ 296,969	$ (128,109)
Total foreign currency translation gains (losses), net	373,405	305,929	(194,673)
Total unrealized gains (losses) on derivative contracts, net	71,639	17,542	(14,117)
Total change in other comprehensive income (loss)	445,044	323,471	(208,790)
Designated As Hedging Instrument [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative hedging instruments	95,012	9,792	(4,301)
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	133,135	(832)	(62,263)
Designated As Hedging Instrument [Member] | Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative hedging instruments	45,837	9,098	(11,269)
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	$ 25,802	$ 8,444	$ (2,848)

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, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivative Instruments Gain Loss [Line Items]
Loss on derivatives	$ (71,639)	$ (17,542)	$ 14,117
Repayment of term loan			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	$ 13,900

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, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	$ 23,875,961	$ 17,715,054
Fair Value of Debt	20,655,930	17,915,994
Credit Facilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	1,538,461	491,393
Fair Value of Debt	1,538,461	491,429
Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	19,786,253	14,981,690
Fair Value of Debt	16,604,241	15,151,781
Term Loans and Unsecured Other Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	2,106,592	1,825,195
Fair Value of Debt	2,092,264	1,835,569
Secured Mortgages [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	444,655	416,776
Fair Value of Debt	$ 420,964	$ 437,215

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Percentage of agreement indemnification	100%
Outstanding performance and surety bonds	$ 456	$ 394.6

Business Segments - Additional

Business Segments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2022 Segment
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, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Segment Reporting Information [Line Items]
Total revenues	$ 1,751,592	$ 1,750,892	$ 1,252,080	$ 1,219,128	$ 1,277,233	$ 1,183,049	$ 1,150,842	$ 1,148,316	$ 5,973,692		$ 4,759,440		$ 4,438,735
Operating income	813,449	914,970	533,317	1,205,802	1,208,273	765,660	700,866	532,197	3,467,538		3,206,996		2,118,944
General and administrative expenses									331,083		293,167		274,845
Depreciation and amortization expenses									1,812,777		1,577,942		1,561,969
Gains on dispositions of development properties and land, net	207,059	74,678	105,802	210,206	316,607	139,406	187,361	173,643	597,745		817,017		464,942
Gains on other dispositions of investments in real estate, net	3,537	$ 1,019	$ 0	$ 584,835	414,390	$ 214,390	$ 127,167	$ 16,623	589,391	[1]	772,570	[1]	252,195	[1]
Earnings from unconsolidated entities, net									310,872		404,255		297,370
Interest expense									(309,037)		(266,228)		(314,507)
Losses on early extinguishment of debt, net									(20,184)		(187,453)		(188,290)
Earnings before income taxes									3,690,810		3,322,848		1,747,088
Total assets	87,897,448				58,486,220				87,897,448		58,486,220
Investments in and advances to unconsolidated entities	9,698,898				8,610,958				9,698,898		8,610,958
Assets held for sale or contribution	531,257				669,688				531,257		669,688
Cash and cash equivalents	278,483				556,117				278,483		556,117		598,000
Other assets	4,801,499				3,312,454				4,801,499		3,312,454
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income									4,424,262		3,488,518		3,238,621
Total assets	76,710,139				48,125,728				76,710,139		48,125,728
Operating Segments [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues									4,934,107		4,168,690		3,801,748
Operating income									3,688,033		3,104,939		2,819,675
Total assets	76,673,811				48,088,165				76,673,811		48,088,165
Operating Segments [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues									1,039,585		590,750		636,987
Operating income									736,229		383,579		418,946
Total assets	36,328				37,563				36,328		37,563
Operating Segments [Member] | U.S. [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues									4,726,072		3,967,180		3,600,335
Operating income									3,555,627		2,966,498		2,679,685
Total assets	71,858,560				44,136,140				71,858,560		44,136,140
Operating Segments [Member] | U.S. [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues									215,416		171,761		354,825
Operating income									59,561		59,991		237,271
Total assets	10,817				11,984				10,817		11,984
Operating Segments [Member] | Other Americas [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues									92,751		98,620		87,830
Operating income									67,552		72,424		64,473
Total assets	1,831,956				1,148,371				1,831,956		1,148,371
Operating Segments [Member] | Other Americas [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues									82,462		58,655		37,696
Operating income									63,464		47,247		24,923
Operating Segments [Member] | Europe [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues									56,731		55,533		68,801
Operating income									24,738		31,163		43,531
Total assets	1,952,160				1,837,800				1,952,160		1,837,800
Operating Segments [Member] | Europe [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues									644,832		249,600		145,016
Operating income									557,676		203,779		99,504
Total assets	25,280				25,280				25,280		25,280
Operating Segments [Member] | Europe [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues									58,553		47,357		44,782
Operating income									40,116		34,854		31,986
Total assets	1,031,135				965,854				1,031,135		965,854
Operating Segments [Member] | Europe [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues									96,875		110,734		99,450
Operating income									55,528		72,562		57,248
Total assets	231				299				231		299
Reconciling Items [Member]
Segment Reporting Information [Line Items]
Operating income									3,467,538		3,206,996		2,118,944
General and administrative expenses									(331,083)		(293,167)		(274,845)
Depreciation and amortization expenses									(1,812,777)		(1,577,942)		(1,561,969)
Gains on dispositions of development properties and land, net									597,745		817,017		464,942
Gains on other dispositions of investments in real estate, net									589,391		772,570		252,195
Earnings from unconsolidated entities, net									310,872		404,255		297,370
Interest expense									(309,037)		(266,228)		(314,507)
Foreign currency and derivative gains (losses) and other income (expense), net									241,621		165,278		(166,429)
Losses on early extinguishment of debt, net									(20,184)		(187,453)		(188,290)
Earnings before income taxes									3,690,810		3,322,848		$ 1,747,088
Total assets	11,187,309				10,360,492				11,187,309		10,360,492
Investments in and advances to unconsolidated entities	9,698,898				8,610,958				9,698,898		8,610,958
Assets held for sale or contribution	531,257				669,688				531,257		669,688
Cash and cash equivalents	278,483				556,117				278,483		556,117
Other assets	$ 678,671				$ 523,729				$ 678,671		$ 523,729
[1] In 2021, we sold our ownership interest in an unconsolidated other venture.

Business Segments - Segment R_2

Business Segments - Segment Reporting, Reconciliation of Revenues, Operating Income and Assets (Parenthetical) (Detail) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 31, 2021
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) $ in Thousands, shares in Millions				12 Months Ended
	Oct. 03, 2023 shares	Oct. 03, 2022 USD ($)	Feb. 04, 2020 USD ($) shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) Venture shares	Dec. 31, 2020 USD ($) shares
Supplemental Cash Flow Information [Line Items]
Debt						$ 169,800
Lease Right-of-Use assets				$ 162,500	$ 71,400	47,800
Lease liabilities				162,500	71,400	47,800
Capitalization for equity based compensation expense				34,900	25,600	22,400
Distribution declared				64,700		$ 45,600
Debt				23,875,961	$ 17,715,054
Number of unconsolidated other ventures | Venture					2
Reinvestment in PELF and PELP					$ 153,000
Common Units [Member]
Supplemental Cash Flow Information [Line Items]
Common limited partnership units, shares | shares					1	0.5
Common limited partnership units, amount paid						$ 48,500
Prologis, L.P. [Member]
Supplemental Cash Flow Information [Line Items]
Debt				$ 23,875,961	$ 17,715,054
Limited Partners [Member] | Prologis, L.P. [Member]
Supplemental Cash Flow Information [Line Items]
Common limited partnership units, shares | shares					1
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 | shares				0.3	0.8	0.7
Unconsolidated Entities [Member]
Supplemental Cash Flow Information [Line Items]
Equity ownership interest received				$ 597,500	$ 886,100	$ 433,700
Unconsolidated Other Venture [Member]
Supplemental Cash Flow Information [Line Items]
Debt					$ 215,300
Duke Transaction [Member]
Supplemental Cash Flow Information [Line Items]
Business acquisition consideration transferred		$ 23,200,000
Debt		$ 4,200,000
Duke Transaction [Member] | Common Units [Member]
Supplemental Cash Flow Information [Line Items]
Common limited partnership units, shares | shares	2.1
Liberty Transaction [Member]
Supplemental Cash Flow Information [Line Items]
Business acquisition consideration transferred			$ 13,000,000
Liberty Transaction [Member] | Common Units [Member]
Supplemental Cash Flow Information [Line Items]
Common limited partnership units, shares | shares			2.3
USLV [Member]
Supplemental Cash Flow Information [Line Items]
Business acquisition, assumption of debt						$ 341,800

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, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2020
Selected Quarterly Financial Data [Line Items]
Rental revenues	$ 1,591,012	$ 1,151,846	$ 1,093,452	$ 1,076,861	$ 1,074,294	$ 1,037,281	$ 1,014,763	$ 1,021,656	$ 4,913,171		$ 4,147,994		$ 3,791,131
Total revenues	1,751,592	1,750,892	1,252,080	1,219,128	1,277,233	1,183,049	1,150,842	1,148,316	5,973,692		4,759,440		4,438,735
Rental expenses	(374,892)	(284,707)	(270,465)	(275,674)	(261,692)	(256,607)	(245,133)	(277,884)	(1,205,738)		(1,041,316)		(952,063)
Gains on dispositions of development properties and land, net	207,059	74,678	105,802	210,206	316,607	139,406	187,361	173,643	597,745		817,017		464,942
Gains on other dispositions of investments in real estate, net	3,537	1,019	0	584,835	414,390	214,390	127,167	16,623	589,391	[1]	772,570	[1]	252,195	[1]
Operating income	813,449	914,970	533,317	1,205,802	1,208,273	765,660	700,866	532,197	3,467,538		3,206,996		2,118,944
Consolidated net earnings	620,066	1,069,174	646,436	1,219,722	1,300,853	797,731	650,313	399,693	3,555,398		3,148,590		1,616,630
Net earnings attributable to common stockholders/unit holders	$ 585,754	$ 1,013,933	$ 609,855	$ 1,149,254	$ 1,247,124	$ 722,007	$ 598,625	$ 365,815	$ 3,358,796		$ 2,933,571		$ 1,473,122
Net earnings per share/unit attributable to common stockholders/unitholders - Basic	$ 0.64	$ 1.37	$ 0.82	$ 1.55	$ 1.68	$ 0.98	$ 0.81	$ 0.50	$ 4.28		$ 3.97		$ 2.02
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted	$ 0.63	$ 1.36	$ 0.82	$ 1.54	$ 1.67	$ 0.97	$ 0.81	$ 0.49	$ 4.25		$ 3.94		$ 2.01
Prologis, L.P. [Member]
Selected Quarterly Financial Data [Line Items]
Rental revenues	$ 1,591,012	$ 1,151,846	$ 1,093,452	$ 1,076,861	$ 1,074,294	$ 1,037,281	$ 1,014,763	$ 1,021,656
Total revenues	1,751,592	1,750,892	1,252,080	1,219,128	1,277,233	1,183,049	1,150,842	1,148,316
Rental expenses	(374,892)	(284,707)	(270,465)	(275,674)	(261,692)	(256,607)	(245,133)	(277,884)
Gains on dispositions of development properties and land, net	207,059	74,678	105,802	210,206	316,607	139,406	187,361	173,643
Gains on other dispositions of investments in real estate, net	3,537	1,019	0	584,835	414,390	214,390	127,167	16,623
Operating income	813,449	914,970	533,317	1,205,802	1,208,273	765,660	700,866	532,197
Consolidated net earnings	620,066	1,069,174	646,436	1,219,722	1,300,853	797,731	650,313	399,693
Net earnings attributable to common stockholders/unit holders	$ 599,252	$ 1,042,664	$ 627,286	$ 1,181,525	$ 1,282,008	$ 741,794	$ 615,478	$ 376,083
Net earnings per share/unit attributable to common stockholders/unitholders - Basic	$ 0.64	$ 1.37	$ 0.82	$ 1.55	$ 1.68	$ 0.98	$ 0.81	$ 0.50
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted	$ 0.63	$ 1.36	$ 0.82	$ 1.54	$ 1.67	$ 0.97	$ 0.81	$ 0.49
[1] In 2021, we sold our ownership interest in an unconsolidated other venture.

Real Estate and Accumulated D_2

Real Estate and Accumulated Depreciation (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) Property	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2,961
Land	$ 21,588,524
Building and Improvements	39,186,365
Costs capitalized subsequent to acquisition	12,476,060
Carrying amount of land	22,299,387
Carrying amount of buildings and improvements	50,951,562
Carrying amount of land and buildings and improvements, Total	73,250,949	$ 47,183,100	$ 45,390,230	$ 33,157,100
Accumulated Depreciation	$ (8,815,724)	$ (7,451,382)	$ (6,370,341)	$ (5,294,212)
Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	136
Land	$ 1,910,926
Building and Improvements	123,624
Costs capitalized subsequent to acquisition	2,177,604
Carrying amount of land	1,910,926
Carrying amount of buildings and improvements	2,301,228
Carrying amount of land and buildings and improvements, Total	$ 4,212,154
United States: Markets [Member] | U.S. [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	80
Land	$ 1,281,415
Building and Improvements	123,624
Costs capitalized subsequent to acquisition	1,216,475
Carrying amount of land	1,281,415
Carrying amount of buildings and improvements	1,340,099
Carrying amount of land and buildings and improvements, Total	$ 2,621,514
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	2
Land	$ 21,712
Building and Improvements	0
Costs capitalized subsequent to acquisition	59,023
Carrying amount of land	21,712
Carrying amount of buildings and improvements	59,023
Carrying amount of land and buildings and improvements, Total	$ 80,735
United States: Markets [Member] | U.S. [Member] | Austin [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 6,721
Building and Improvements	0
Costs capitalized subsequent to acquisition	46,522
Carrying amount of land	6,721
Carrying amount of buildings and improvements	46,522
Carrying amount of land and buildings and improvements, Total	$ 53,243
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	$ 14,784
Building and Improvements	0
Costs capitalized subsequent to acquisition	22,364
Carrying amount of land	14,784
Carrying amount of buildings and improvements	22,364
Carrying amount of land and buildings and improvements, Total	$ 37,148
United States: Markets [Member] | U.S. [Member] | Central PA [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 7,810
Building and Improvements	0
Costs capitalized subsequent to acquisition	25,226
Carrying amount of land	7,810
Carrying amount of buildings and improvements	25,226
Carrying amount of land and buildings and improvements, Total	$ 33,036
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	2
Land	$ 10,174
Building and Improvements	0
Costs capitalized subsequent to acquisition	44,198
Carrying amount of land	10,174
Carrying amount of buildings and improvements	44,198
Carrying amount of land and buildings and improvements, Total	$ 54,372
Date of Construction/ Acquisition	2022
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	$ 8,841
Building and Improvements	0
Costs capitalized subsequent to acquisition	14,848
Carrying amount of land	8,841
Carrying amount of buildings and improvements	14,848
Carrying amount of land and buildings and improvements, Total	$ 23,689
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	9
Land	$ 116,955
Building and Improvements	967
Costs capitalized subsequent to acquisition	163,188
Carrying amount of land	116,955
Carrying amount of buildings and improvements	164,155
Carrying amount of land and buildings and improvements, Total	$ 281,110
Date of Construction/ Acquisition	2022
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	11
Land	$ 83,061
Building and Improvements	0
Costs capitalized subsequent to acquisition	97,625
Carrying amount of land	83,061
Carrying amount of buildings and improvements	97,625
Carrying amount of land and buildings and improvements, Total	$ 180,686
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	$ 17,165
Building and Improvements	0
Costs capitalized subsequent to acquisition	57,237
Carrying amount of land	17,165
Carrying amount of buildings and improvements	57,237
Carrying amount of land and buildings and improvements, Total	$ 74,402
United States: Markets [Member] | U.S. [Member] | Indianapolis [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 8,440
Building and Improvements	17,058
Costs capitalized subsequent to acquisition	32,671
Carrying amount of land	8,440
Carrying amount of buildings and improvements	49,729
Carrying amount of land and buildings and improvements, Total	$ 58,169
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	3
Land	$ 23,262
Building and Improvements	0
Costs capitalized subsequent to acquisition	60,375
Carrying amount of land	23,262
Carrying amount of buildings and improvements	60,375
Carrying amount of land and buildings and improvements, Total	$ 83,637
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	2
Land	$ 48,636
Building and Improvements	0
Costs capitalized subsequent to acquisition	76,923
Carrying amount of land	48,636
Carrying amount of buildings and improvements	76,923
Carrying amount of land and buildings and improvements, Total	$ 125,559
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	$ 10,264
Building and Improvements	0
Costs capitalized subsequent to acquisition	22,670
Carrying amount of land	10,264
Carrying amount of buildings and improvements	22,670
Carrying amount of land and buildings and improvements, Total	$ 32,934
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	$ 51,603
Building and Improvements	0
Costs capitalized subsequent to acquisition	8,216
Carrying amount of land	51,603
Carrying amount of buildings and improvements	8,216
Carrying amount of land and buildings and improvements, Total	$ 59,819
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	5
Land	$ 19,490
Building and Improvements	0
Costs capitalized subsequent to acquisition	71,228
Carrying amount of land	19,490
Carrying amount of buildings and improvements	71,228
Carrying amount of land and buildings and improvements, Total	$ 90,718
Date of Construction/ Acquisition	2022
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	5
Land	$ 23,600
Building and Improvements	0
Costs capitalized subsequent to acquisition	26,774
Carrying amount of land	23,600
Carrying amount of buildings and improvements	26,774
Carrying amount of land and buildings and improvements, Total	$ 50,374
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	3
Land	$ 19,126
Building and Improvements	0
Costs capitalized subsequent to acquisition	64,128
Carrying amount of land	19,126
Carrying amount of buildings and improvements	64,128
Carrying amount of land and buildings and improvements, Total	$ 83,254
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	5
Land	$ 37,507
Building and Improvements	20,605
Costs capitalized subsequent to acquisition	52,718
Carrying amount of land	37,507
Carrying amount of buildings and improvements	73,323
Carrying amount of land and buildings and improvements, Total	$ 110,830
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	3
Land	$ 62,649
Building and Improvements	14,746
Costs capitalized subsequent to acquisition	30,980
Carrying amount of land	62,649
Carrying amount of buildings and improvements	45,726
Carrying amount of land and buildings and improvements, Total	$ 108,375
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	6
Land	$ 63,291
Building and Improvements	0
Costs capitalized subsequent to acquisition	59,613
Carrying amount of land	63,291
Carrying amount of buildings and improvements	59,613
Carrying amount of land and buildings and improvements, Total	$ 122,904
Date of Construction/ Acquisition	2022
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	11
Land	$ 623,788
Building and Improvements	70,248
Costs capitalized subsequent to acquisition	168,087
Carrying amount of land	623,788
Carrying amount of buildings and improvements	238,335
Carrying amount of land and buildings and improvements, Total	$ 862,123
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	$ 2,536
Building and Improvements	0
Costs capitalized subsequent to acquisition	11,861
Carrying amount of land	2,536
Carrying amount of buildings and improvements	11,861
Carrying amount of land and buildings and improvements, Total	$ 14,397
Other Americas Markets [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	18
Land	$ 130,244
Building and Improvements	0
Costs capitalized subsequent to acquisition	154,173
Carrying amount of land	130,244
Carrying amount of buildings and improvements	154,173
Carrying amount of land and buildings and improvements, Total	$ 284,417
Other Americas Markets [Member] | Canada [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	5
Land	$ 65,936
Building and Improvements	0
Costs capitalized subsequent to acquisition	16,302
Carrying amount of land	65,936
Carrying amount of buildings and improvements	16,302
Carrying amount of land and buildings and improvements, Total	$ 82,238
Other Americas Markets [Member] | Mexico [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	13
Land	$ 64,308
Building and Improvements	0
Costs capitalized subsequent to acquisition	137,871
Carrying amount of land	64,308
Carrying amount of buildings and improvements	137,871
Carrying amount of land and buildings and improvements, Total	$ 202,179
Date of Construction/ Acquisition	2022
Europe Markets | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	31
Land	$ 336,623
Building and Improvements	0
Costs capitalized subsequent to acquisition	388,693
Carrying amount of land	336,623
Carrying amount of buildings and improvements	388,693
Carrying amount of land and buildings and improvements, Total	$ 725,316
Europe Markets | Germany [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	3
Land	$ 20,134
Building and Improvements	0
Costs capitalized subsequent to acquisition	49,748
Carrying amount of land	20,134
Carrying amount of buildings and improvements	49,748
Carrying amount of land and buildings and improvements, Total	$ 69,882
Europe Markets | Slovakia [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 4,490
Building and Improvements	0
Costs capitalized subsequent to acquisition	26,313
Carrying amount of land	4,490
Carrying amount of buildings and improvements	26,313
Carrying amount of land and buildings and improvements, Total	$ 30,803
Date of Construction/ Acquisition	2022
Europe Markets | Belgium [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 9,096
Building and Improvements	0
Costs capitalized subsequent to acquisition	11,063
Carrying amount of land	9,096
Carrying amount of buildings and improvements	11,063
Carrying amount of land and buildings and improvements, Total	$ 20,159
Europe Markets | Hungary [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 5,708
Building and Improvements	0
Costs capitalized subsequent to acquisition	18,138
Carrying amount of land	5,708
Carrying amount of buildings and improvements	18,138
Carrying amount of land and buildings and improvements, Total	$ 23,846
Europe Markets | Spain [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 17,535
Building and Improvements	0
Costs capitalized subsequent to acquisition	12,198
Carrying amount of land	17,535
Carrying amount of buildings and improvements	12,198
Carrying amount of land and buildings and improvements, Total	$ 29,733
Europe Markets | United Kingdom [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	7
Land	$ 198,265
Building and Improvements	0
Costs capitalized subsequent to acquisition	126,289
Carrying amount of land	198,265
Carrying amount of buildings and improvements	126,289
Carrying amount of land and buildings and improvements, Total	$ 324,554
Europe Markets | Czech Republic | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 5,338
Building and Improvements	0
Costs capitalized subsequent to acquisition	11,574
Carrying amount of land	5,338
Carrying amount of buildings and improvements	11,574
Carrying amount of land and buildings and improvements, Total	$ 16,912
Europe Markets | France [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 5,260
Building and Improvements	0
Costs capitalized subsequent to acquisition	21,730
Carrying amount of land	5,260
Carrying amount of buildings and improvements	21,730
Carrying amount of land and buildings and improvements, Total	$ 26,990
Europe Markets | Italy [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 3,637
Building and Improvements	0
Costs capitalized subsequent to acquisition	17,549
Carrying amount of land	3,637
Carrying amount of buildings and improvements	17,549
Carrying amount of land and buildings and improvements, Total	$ 21,186
Europe Markets | Netherlands [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	3
Land	$ 13,052
Building and Improvements	0
Costs capitalized subsequent to acquisition	50,091
Carrying amount of land	13,052
Carrying amount of buildings and improvements	50,091
Carrying amount of land and buildings and improvements, Total	$ 63,143
Europe Markets | Poland [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 8,312
Building and Improvements	0
Costs capitalized subsequent to acquisition	21,206
Carrying amount of land	8,312
Carrying amount of buildings and improvements	21,206
Carrying amount of land and buildings and improvements, Total	$ 29,518
Europe Markets | Sweden [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	3
Land	$ 45,796
Building and Improvements	0
Costs capitalized subsequent to acquisition	22,794
Carrying amount of land	45,796
Carrying amount of buildings and improvements	22,794
Carrying amount of land and buildings and improvements, Total	$ 68,590
Asia Markets [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	7
Land	$ 162,644
Building and Improvements	0
Costs capitalized subsequent to acquisition	418,263
Carrying amount of land	162,644
Carrying amount of buildings and improvements	418,263
Carrying amount of land and buildings and improvements, Total	$ 580,907
Asia Markets [Member] | Japan [Member] | Development Portfolio
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	7
Land	$ 162,644
Building and Improvements	0
Costs capitalized subsequent to acquisition	418,263
Carrying amount of land	162,644
Carrying amount of buildings and improvements	418,263
Carrying amount of land and buildings and improvements, Total	$ 580,907
Date of Construction/ Acquisition	2022
Operating Properties [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2,825
Land	$ 19,677,598
Building and Improvements	39,062,741
Costs capitalized subsequent to acquisition	10,298,456
Carrying amount of land	20,388,461
Carrying amount of buildings and improvements	48,650,334
Carrying amount of land and buildings and improvements, Total	69,038,795
Accumulated Depreciation	$ (8,815,724)
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2,757
Land	$ 19,280,335
Building and Improvements	38,294,360
Costs capitalized subsequent to acquisition	9,968,291
Carrying amount of land	19,978,662
Carrying amount of buildings and improvements	47,564,324
Carrying amount of land and buildings and improvements, Total	67,542,986
Accumulated Depreciation	$ (8,546,257)
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	165
Land	$ 704,450
Building and Improvements	2,108,059
Costs capitalized subsequent to acquisition	498,688
Carrying amount of land	725,711
Carrying amount of buildings and improvements	2,585,486
Carrying amount of land and buildings and improvements, Total	3,311,197
Accumulated Depreciation	$ (363,505)
Date of Construction/ Acquisition	1994-2022
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	10,061
Carrying amount of land	12,837
Carrying amount of buildings and improvements	62,342
Carrying amount of land and buildings and improvements, Total	75,179
Accumulated Depreciation	$ (29,336)
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	99
Land	$ 481,309
Building and Improvements	980,954
Costs capitalized subsequent to acquisition	275,881
Carrying amount of land	494,517
Carrying amount of buildings and improvements	1,243,627
Carrying amount of land and buildings and improvements, Total	1,738,144
Accumulated Depreciation	$ (215,077)
Date of Construction/ Acquisition	1995-2022
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	34
Land	$ 289,391
Building and Improvements	1,043,676
Costs capitalized subsequent to acquisition	155,465
Carrying amount of land	306,976
Carrying amount of buildings and improvements	1,181,556
Carrying amount of land and buildings and improvements, Total	1,488,532
Accumulated Depreciation	$ (241,811)
Date of Construction/ Acquisition	2002-2022
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	39
Land	$ 244,099
Building and Improvements	530,993
Costs capitalized subsequent to acquisition	941,345
Carrying amount of land	264,445
Carrying amount of buildings and improvements	1,451,992
Carrying amount of land and buildings and improvements, Total	1,716,437
Accumulated Depreciation	$ (265,716)
Date of Construction/ Acquisition	1999-2022
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	45
Land	$ 112,232
Building and Improvements	346,000
Costs capitalized subsequent to acquisition	102,031
Carrying amount of land	124,965
Carrying amount of buildings and improvements	435,298
Carrying amount of land and buildings and improvements, Total	560,263
Accumulated Depreciation	$ (84,744)
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	237
Land	$ 1,093,201
Building and Improvements	3,153,363
Costs capitalized subsequent to acquisition	627,377
Carrying amount of land	1,119,733
Carrying amount of buildings and improvements	3,754,208
Carrying amount of land and buildings and improvements, Total	4,873,941
Accumulated Depreciation	$ (784,152)
Date of Construction/ Acquisition	1995-2022
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	60
Land	$ 157,634
Building and Improvements	830,881
Costs capitalized subsequent to acquisition	137,309
Carrying amount of land	165,844
Carrying amount of buildings and improvements	959,980
Carrying amount of land and buildings and improvements, Total	1,125,824
Accumulated Depreciation	$ (93,837)
Date of Construction/ Acquisition	1996-2022
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	33
Land	$ 65,940
Building and Improvements	369,748
Costs capitalized subsequent to acquisition	77,539
Carrying amount of land	68,889
Carrying amount of buildings and improvements	444,338
Carrying amount of land and buildings and improvements, Total	513,227
Accumulated Depreciation	$ (104,224)
Date of Construction/ Acquisition	1996-2022
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	185
Land	$ 645,832
Building and Improvements	2,281,203
Costs capitalized subsequent to acquisition	558,842
Carrying amount of land	668,061
Carrying amount of buildings and improvements	2,817,816
Carrying amount of land and buildings and improvements, Total	3,485,877
Accumulated Depreciation	$ (536,780)
Date of Construction/ Acquisition	1994-2022
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	38
Land	$ 115,979
Building and Improvements	295,412
Costs capitalized subsequent to acquisition	178,682
Carrying amount of land	115,515
Carrying amount of buildings and improvements	474,558
Carrying amount of land and buildings and improvements, Total	590,073
Accumulated Depreciation	$ (154,568)
Date of Construction/ Acquisition	1993-2022
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	194
Land	$ 506,818
Building and Improvements	2,226,942
Costs capitalized subsequent to acquisition	391,161
Carrying amount of land	551,473
Carrying amount of buildings and improvements	2,573,448
Carrying amount of land and buildings and improvements, Total	3,124,921
Accumulated Depreciation	$ (358,694)
Date of Construction/ Acquisition	1993-2022
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	37
Land	$ 91,337
Building and Improvements	600,850
Costs capitalized subsequent to acquisition	77,308
Carrying amount of land	92,575
Carrying amount of buildings and improvements	676,920
Carrying amount of land and buildings and improvements, Total	769,495
Accumulated Depreciation	$ (75,423)
Date of Construction/ Acquisition	1995-2022
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	$ (3,015)
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	57
Land	$ 175,201
Building and Improvements	345,091
Costs capitalized subsequent to acquisition	297,766
Carrying amount of land	159,801
Carrying amount of buildings and improvements	658,257
Carrying amount of land and buildings and improvements, Total	818,058
Accumulated Depreciation	$ (129,319)
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	65
Land	$ 1,205,621
Building and Improvements	2,279,491
Costs capitalized subsequent to acquisition	398,406
Carrying amount of land	1,282,491
Carrying amount of buildings and improvements	2,601,027
Carrying amount of land and buildings and improvements, Total	3,883,518
Accumulated Depreciation	$ (272,175)
Date of Construction/ Acquisition	2004-2022
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	12
Land	$ 48,140
Building and Improvements	188,696
Costs capitalized subsequent to acquisition	94,624
Carrying amount of land	50,392
Carrying amount of buildings and improvements	281,068
Carrying amount of land and buildings and improvements, Total	331,460
Accumulated Depreciation	$ (80,928)
Date of Construction/ Acquisition	2005-2022
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	45
Land	$ 202,495
Building and Improvements	595,616
Costs capitalized subsequent to acquisition	198,166
Carrying amount of land	204,864
Carrying amount of buildings and improvements	791,413
Carrying amount of land and buildings and improvements, Total	996,277
Accumulated Depreciation	$ (79,036)
Date of Construction/ Acquisition	1995-2022
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	156
Land	$ 2,724,856
Building and Improvements	3,808,098
Costs capitalized subsequent to acquisition	783,582
Carrying amount of land	2,759,509
Carrying amount of buildings and improvements	4,557,027
Carrying amount of land and buildings and improvements, Total	7,316,536
Accumulated Depreciation	$ (784,219)
Date of Construction/ Acquisition	1996-2022
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	98
Land	$ 284,646
Building and Improvements	880,549
Costs capitalized subsequent to acquisition	180,716
Carrying amount of land	299,608
Carrying amount of buildings and improvements	1,046,303
Carrying amount of land and buildings and improvements, Total	1,345,911
Accumulated Depreciation	$ (156,640)
Date of Construction/ Acquisition	1994-2022
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	51
Land	$ 154,063
Building and Improvements	394,219
Costs capitalized subsequent to acquisition	375,847
Carrying amount of land	184,342
Carrying amount of buildings and improvements	739,787
Carrying amount of land and buildings and improvements, Total	924,129
Accumulated Depreciation	$ (121,859)
Date of Construction/ Acquisition	1992-2022
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	41
Land	$ 130,433
Building and Improvements	276,956
Costs capitalized subsequent to acquisition	221,257
Carrying amount of land	183,932
Carrying amount of buildings and improvements	444,714
Carrying amount of land and buildings and improvements, Total	628,646
Accumulated Depreciation	$ (75,642)
Date of Construction/ Acquisition	2006-2022
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	119,361
Carrying amount of land	26,762
Carrying amount of buildings and improvements	260,267
Carrying amount of land and buildings and improvements, Total	287,029
Accumulated Depreciation	$ (94,815)
Date of Construction/ Acquisition	1994-2021
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Raleigh Durham [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	37
Land	$ 107,899
Building and Improvements	407,505
Costs capitalized subsequent to acquisition	20,028
Carrying amount of land	111,839
Carrying amount of buildings and improvements	423,593
Carrying amount of land and buildings and improvements, Total	535,432
Accumulated Depreciation	$ (15,973)
Date of Construction/ Acquisition	2020-2022
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	47,052
Carrying amount of land	25,957
Carrying amount of buildings and improvements	142,658
Carrying amount of land and buildings and improvements, Total	168,615
Accumulated Depreciation	$ (69,678)
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	233
Land	$ 1,071,018
Building and Improvements	1,670,174
Costs capitalized subsequent to acquisition	577,839
Carrying amount of land	1,082,106
Carrying amount of buildings and improvements	2,236,925
Carrying amount of land and buildings and improvements, Total	3,319,031
Accumulated Depreciation	$ (875,417)
Date of Construction/ Acquisition	1993-2022
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	109
Land	$ 850,208
Building and Improvements	1,434,654
Costs capitalized subsequent to acquisition	377,278
Carrying amount of land	876,132
Carrying amount of buildings and improvements	1,786,008
Carrying amount of land and buildings and improvements, Total	2,662,140
Accumulated Depreciation	$ (306,484)
Date of Construction/ Acquisition	2008-2022
Operating Properties [Member] | United States: Markets [Member] | U.S. [Member] | Savannah [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	23
Land	$ 204,408
Building and Improvements	473,995
Costs capitalized subsequent to acquisition	32,404
Carrying amount of land	204,408
Carrying amount of buildings and improvements	506,399
Carrying amount of land and buildings and improvements, Total	710,807
Accumulated Depreciation	$ (5,312)
Date of Construction/ Acquisition	2022
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	174
Land	$ 1,329,156
Building and Improvements	2,117,967
Costs capitalized subsequent to acquisition	344,476
Carrying amount of land	1,342,860
Carrying amount of buildings and improvements	2,448,739
Carrying amount of land and buildings and improvements, Total	3,791,599
Accumulated Depreciation	$ (328,733)
Date of Construction/ Acquisition	1994-2022
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	26
Land	$ 92,357
Building and Improvements	244,738
Costs capitalized subsequent to acquisition	25,477
Carrying amount of land	98,472
Carrying amount of buildings and improvements	264,100
Carrying amount of land and buildings and improvements, Total	362,572
Accumulated Depreciation	$ (10,963)
Date of Construction/ Acquisition	2020-2022
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	416
Land	$ 6,127,705
Building and Improvements	8,115,196
Costs capitalized subsequent to acquisition	1,842,050
Carrying amount of land	6,373,646
Carrying amount of buildings and improvements	9,711,305
Carrying amount of land and buildings and improvements, Total	16,084,951
Accumulated Depreciation	$ (1,828,182)
Date of Construction/ Acquisition	2005-2022
Operating Properties [Member] | Other Americas Markets [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	40
Land	$ 248,892
Building and Improvements	428,783
Costs capitalized subsequent to acquisition	226,856
Carrying amount of land	256,624
Carrying amount of buildings and improvements	647,907
Carrying amount of land and buildings and improvements, Total	904,531
Accumulated Depreciation	$ (163,591)
Operating Properties [Member] | Other Americas Markets [Member] | Canada [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	34
Land	$ 248,162
Building and Improvements	373,220
Costs capitalized subsequent to acquisition	223,615
Carrying amount of land	255,888
Carrying amount of buildings and improvements	589,109
Carrying amount of land and buildings and improvements, Total	844,997
Accumulated Depreciation	$ (160,947)
Date of Construction/ Acquisition	2008-2022
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	3,224
Carrying amount of land	736
Carrying amount of buildings and improvements	5,505
Carrying amount of land and buildings and improvements, Total	6,241
Accumulated Depreciation	$ (1,865)
Date of Construction/ Acquisition	2011
Operating Properties [Member] | Other Americas Markets [Member] | Brazil [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	5
Land	$ 0
Building and Improvements	53,276
Costs capitalized subsequent to acquisition	17
Carrying amount of land	0
Carrying amount of buildings and improvements	53,293
Carrying amount of land and buildings and improvements, Total	53,293
Accumulated Depreciation	$ (779)
Date of Construction/ Acquisition	2022
Operating Properties [Member] | Europe Markets
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	17
Land	$ 127,991
Building and Improvements	49,639
Costs capitalized subsequent to acquisition	77,801
Carrying amount of land	132,795
Carrying amount of buildings and improvements	122,636
Carrying amount of land and buildings and improvements, Total	255,431
Accumulated Depreciation	$ (28,006)
Operating Properties [Member] | Europe Markets | Germany [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	4
Land	$ 47,837
Building and Improvements	7,068
Costs capitalized subsequent to acquisition	35,479
Carrying amount of land	52,812
Carrying amount of buildings and improvements	37,572
Carrying amount of land and buildings and improvements, Total	90,384
Accumulated Depreciation	$ (5,903)
Date of Construction/ Acquisition	2011-2022
Operating Properties [Member] | Europe Markets | Slovakia [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	2
Land	$ 2,926
Building and Improvements	0
Costs capitalized subsequent to acquisition	12,652
Carrying amount of land	3,239
Carrying amount of buildings and improvements	12,339
Carrying amount of land and buildings and improvements, Total	15,578
Accumulated Depreciation	$ (391)
Date of Construction/ Acquisition	2021
Operating Properties [Member] | Europe Markets | Belgium [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	3
Land	$ 16,011
Building and Improvements	4,776
Costs capitalized subsequent to acquisition	0
Carrying amount of land	16,011
Carrying amount of buildings and improvements	4,776
Carrying amount of land and buildings and improvements, Total	20,787
Accumulated Depreciation	$ (204)
Date of Construction/ Acquisition	2022
Operating Properties [Member] | Europe Markets | Hungary [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	1
Land	$ 1,845
Building and Improvements	0
Costs capitalized subsequent to acquisition	5,983
Carrying amount of land	1,845
Carrying amount of buildings and improvements	5,983
Carrying amount of land and buildings and improvements, Total	7,828
Accumulated Depreciation	$ (106)
Date of Construction/ Acquisition	2022
Operating Properties [Member] | Europe Markets | Spain [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	5
Land	$ 10,862
Building and Improvements	34,504
Costs capitalized subsequent to acquisition	13,340
Carrying amount of land	9,969
Carrying amount of buildings and improvements	48,737
Carrying amount of land and buildings and improvements, Total	58,706
Accumulated Depreciation	$ (17,990)
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	2
Land	$ 48,510
Building and Improvements	3,291
Costs capitalized subsequent to acquisition	10,347
Carrying amount of land	48,919
Carrying amount of buildings and improvements	13,229
Carrying amount of land and buildings and improvements, Total	62,148
Accumulated Depreciation	$ (3,412)
Date of Construction/ Acquisition	2019-2021
Operating Properties [Member] | Asia Markets [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	11
Land	$ 20,380
Building and Improvements	289,959
Costs capitalized subsequent to acquisition	25,508
Carrying amount of land	20,380
Carrying amount of buildings and improvements	315,467
Carrying amount of land and buildings and improvements, Total	335,847
Accumulated Depreciation	$ (77,870)
Operating Properties [Member] | Asia Markets [Member] | Japan [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	6
Land	$ 20,380
Building and Improvements	152,367
Costs capitalized subsequent to acquisition	20,618
Carrying amount of land	20,380
Carrying amount of buildings and improvements	172,985
Carrying amount of land and buildings and improvements, Total	193,365
Accumulated Depreciation	$ (3,024)
Date of Construction/ Acquisition	2019-2022
Operating Properties [Member] | Asia Markets [Member] | Singapore [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of buildings | Property	5
Land	$ 0
Building and Improvements	137,592
Costs capitalized subsequent to acquisition	4,890
Carrying amount of land	0
Carrying amount of buildings and improvements	142,482
Carrying amount of land and buildings and improvements, Total	142,482
Accumulated Depreciation	$ (74,846)
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, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Total operating properties and development portfolio per Schedule III	$ 73,250,949	$ 47,183,100	$ 45,390,230
Land	3,338,121
Other real estate investments (i)	5,034,326
Total per Consolidated Balance Sheets	81,623,396	53,005,190
Aggregate cost for Federal tax purposes	60,000,000
Total accumulated depreciation per Schedule III	8,815,724	7,451,382	6,370,341
Accumulated depreciation on other real estate investments	220,361
Total per Consolidated Balance Sheets	9,036,085	7,668,187
Cost of operating properties excluding land	631,300
Mortgage notes	249,300
Assessment bonds	8,900
Assessment bonds, aggregate undepreciated cost	580,300
Real estate assets:
Balance at beginning of year	47,183,100	45,390,230	33,157,100
Acquisitions of and improvements to operating properties, development activity and net effect of changes in foreign exchange rates and other	25,281,173	3,351,730	13,985,898
Basis of operating properties disposed of	(445,558)	(1,589,527)	(1,045,128)
Change in the development portfolio balance, including the acquisition of properties	1,482,814	846,729	13,345
Assets transferred to held for sale and contribution	(250,580)	(816,062)	(720,985)
Balance at end year	73,250,949	47,183,100	45,390,230
Accumulated depreciation:
Balance at beginning of year	7,451,382	6,370,341	5,294,212
Depreciation expense	1,357,180	1,143,758	1,112,075
Balances retired upon disposition of operating properties and net effect of changes in foreign exchange rates and other	9,090	(42,483)	(35,083)
Assets transferred to held for sale and contribution	(1,928)	(20,234)	(863)
Balance at end of year	$ 8,815,724	$ 7,451,382	$ 6,370,341
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	40 years