Prologis 10-Q 31 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 27, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	PLD
Entity Registrant Name	Prologis, Inc.
Entity Central Index Key	1,045,609
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		524,127,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
ASSETS
Investments in real estate properties	$ 27,463,049	$ 22,190,145
Less accumulated depreciation	3,075,438	2,790,781
Net investments in real estate properties	24,387,611	19,399,364
Investments in and advances to unconsolidated entities	4,911,505	4,824,724
Assets held for sale	514,752	43,934
Note receivable backed by real estate	197,500
Net investments in real estate	30,011,368	24,268,022
Cash and cash equivalents	351,025	350,692
Other assets	1,240,004	1,199,509
Total assets	31,602,397	25,818,223
Liabilities:
Debt	12,121,305	9,380,199
Accounts payable and accrued expenses	537,432	627,999
Other liabilities	589,636	626,426
Total liabilities	13,248,373	10,634,624
Prologis, Inc. stockholders' equity:
Series Q preferred stock at stated liquidation preference of $50 per share; $0.01 par value; 1,565 shares issued and outstanding and 100,000 preferred shares authorized at June 30, 2015, and December 31, 2014	78,235	78,235
Common stock; $0.01 par value; 524,122 shares and 509,498 shares issued and outstanding at June 30, 2015, and December 31, 2014, respectively	5,241	5,095
Additional paid-in capital	19,129,348	18,467,009
Accumulated other comprehensive loss	(631,265)	(600,337)
Distributions in excess of net earnings	(3,870,808)	(3,974,493)
Total Prologis, Inc. stockholders' equity	14,710,751	13,975,509
Partners' capital:
Noncontrolling interests	3,643,273	1,208,090
Total equity	18,354,024	15,183,599
Total liabilities and equity	31,602,397	25,818,223
Prologis, L.P. [Member]
ASSETS
Investments in real estate properties	27,463,049	22,190,145
Less accumulated depreciation	3,075,438	2,790,781
Net investments in real estate properties	24,387,611	19,399,364
Investments in and advances to unconsolidated entities	4,911,505	4,824,724
Assets held for sale	514,752	43,934
Note receivable backed by real estate	197,500
Net investments in real estate	30,011,368	24,268,022
Cash and cash equivalents	351,025	350,692
Other assets	1,240,004	1,199,509
Total assets	31,602,397	25,818,223
Liabilities:
Debt	12,121,305	9,380,199
Accounts payable and accrued expenses	537,432	627,999
Other liabilities	589,636	626,426
Total liabilities	13,248,373	10,634,624
Partners' capital:
Limited partners	181,823	48,189
Total partners' capital	14,892,574	14,023,698
Noncontrolling interests	3,461,450	1,159,901
Total capital	18,354,024	15,183,599
Total liabilities and equity	31,602,397	25,818,223
Prologis, L.P. [Member] | Preferred [Member]
Partners' capital:
General partner	78,235	78,235
Prologis, L.P. [Member] | Common [Member]
Partners' capital:
General partner	$ 14,632,516	$ 13,897,274

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement Of Financial Position [Abstract]
Preferred stock, liquidation preference per share	$ 50	$ 50
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	1,565,000	1,565,000
Preferred stock, shares outstanding	1,565,000	1,565,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	524,122,000	509,498,000
Common stock, shares outstanding	524,122,000	509,498,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Rental income	$ 357,828	$ 294,461	$ 682,375	$ 595,339
Rental recoveries	103,616	86,812	197,871	174,174
Strategic capital income	47,046	76,334	89,071	121,644
Development management and other income	1,914	2,482	3,934	3,614
Total revenues	510,404	460,089	973,251	894,771
Expenses:
Rental expenses	125,599	109,576	252,533	220,093
Strategic capital expenses	20,115	27,837	40,476	52,000
General and administrative expenses	57,027	60,375	113,315	123,578
Depreciation and amortization	190,188	161,577	359,996	321,857
Other expenses	30,127	5,450	35,702	10,503
Total expenses	423,056	364,815	802,022	728,031
Operating income	87,348	95,274	171,229	166,740
Other income (expense):
Earnings from unconsolidated entities, net	41,784	21,151	72,826	50,897
Interest expense	(68,902)	(80,184)	(137,663)	(165,707)
Interest and other income, net	1,847	5,116	12,896	19,166
Gains on dispositions of investments in real estate, net	108,782	169,583	386,497	186,638
Foreign currency and derivative gains (losses) and related amortization, net	(25,512)	10,130	9,054	(18,054)
Losses on early extinguishment of debt, net	(236)	(77,558)	(16,525)	(77,285)
Total other income (expense)	57,763	48,238	327,085	(4,345)
Earnings before income taxes	145,111	143,512	498,314	162,395
Current income tax expense	4,706	43,050	5,545	48,898
Deferred income tax expense (benefit)	145	(51,968)	1,197	(50,936)
Total income tax expense (benefit)	4,851	(8,918)	6,742	(2,038)
Consolidated net earnings	140,260	152,430	491,572	164,433
Net loss (earnings) attributable to noncontrolling interests	1,658	(71,250)	(2,778)	(76,452)
Net earnings attributable to controlling interests	141,918	81,180	488,794	87,981
Less preferred stock dividends	1,678	1,948	3,348	4,083
Loss on preferred stock repurchase		6,517		6,517
Net earnings attributable to common stockholders	$ 140,240	$ 72,715	$ 485,446	$ 77,381
Weighted average common shares outstanding – Basic	523,476	499,112	518,791	498,919
Weighted average common shares outstanding – Diluted	530,640	516,619	529,827	504,560
Net earnings per share attributable to common stockholders – Basic	$ 0.27	$ 0.15	$ 0.94	$ 0.16
Net earnings per share attributable to common stockholders – Diluted	0.27	0.13	0.92	0.15
Dividends per common share	$ 0.36	$ 0.33	$ 0.72	$ 0.66
Prologis, L.P. [Member]
Revenues:
Rental income	$ 357,828	$ 294,461	$ 682,375	$ 595,339
Rental recoveries	103,616	86,812	197,871	174,174
Strategic capital income	47,046	76,334	89,071	121,644
Development management and other income	1,914	2,482	3,934	3,614
Total revenues	510,404	460,089	973,251	894,771
Expenses:
Rental expenses	125,599	109,576	252,533	220,093
Strategic capital expenses	20,115	27,837	40,476	52,000
General and administrative expenses	57,027	60,375	113,315	123,578
Depreciation and amortization	190,188	161,577	359,996	321,857
Other expenses	30,127	5,450	35,702	10,503
Total expenses	423,056	364,815	802,022	728,031
Operating income	87,348	95,274	171,229	166,740
Other income (expense):
Earnings from unconsolidated entities, net	41,784	21,151	72,826	50,897
Interest expense	(68,902)	(80,184)	(137,663)	(165,707)
Interest and other income, net	1,847	5,116	12,896	19,166
Gains on dispositions of investments in real estate, net	108,782	169,583	386,497	186,638
Foreign currency and derivative gains (losses) and related amortization, net	(25,512)	10,130	9,054	(18,054)
Losses on early extinguishment of debt, net	(236)	(77,558)	(16,525)	(77,285)
Total other income (expense)	57,763	48,238	327,085	(4,345)
Earnings before income taxes	145,111	143,512	498,314	162,395
Current income tax expense	4,706	43,050	5,545	48,898
Deferred income tax expense (benefit)	145	(51,968)	1,197	(50,936)
Total income tax expense (benefit)	4,851	(8,918)	6,742	(2,038)
Consolidated net earnings	140,260	152,430	491,572	164,433
Net loss (earnings) attributable to noncontrolling interests	2,956	(70,992)	(198)	(76,178)
Net earnings attributable to controlling interests	143,216	81,438	491,374	88,255
Less preferred stock dividends	1,678	1,948	3,348	4,083
Loss on preferred stock repurchase		6,517		6,517
Net earnings attributable to common stockholders	$ 141,538	$ 72,973	$ 488,026	$ 77,655
Weighted average common shares outstanding – Basic	527,071	500,879	521,548	500,686
Weighted average common shares outstanding – Diluted	530,640	516,619	529,827	504,560
Net earnings per share attributable to common stockholders – Basic	$ 0.27	$ 0.15	$ 0.94	$ 0.16
Net earnings per share attributable to common stockholders – Diluted	0.27	0.13	0.92	0.15
Dividends per common share	$ 0.36	$ 0.33	$ 0.72	$ 0.66

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Consolidated net earnings	$ 140,260	$ 152,430	$ 491,572	$ 164,433
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	74,937	63,464	(49,342)	58,741
Unrealized gains (losses) and amortization on derivative contracts, net	(462)	(2,164)	3,347	(3,425)
Comprehensive income	214,735	213,730	445,577	219,749
Net loss (earnings) attributable to noncontrolling interests	1,658	(71,250)	(2,778)	(76,452)
Other comprehensive loss (income) attributable to noncontrolling interest	(4,027)	(1,954)	15,067	(4,889)
Comprehensive income attributable to common stockholders / unitholders	212,366	140,526	457,866	138,408
Prologis, L.P. [Member]
Consolidated net earnings	140,260	152,430	491,572	164,433
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	74,937	63,464	(49,342)	58,741
Unrealized gains (losses) and amortization on derivative contracts, net	(462)	(2,164)	3,347	(3,425)
Comprehensive income	214,735	213,730	445,577	219,749
Net loss (earnings) attributable to noncontrolling interests	2,956	(70,992)	(198)	(76,178)
Other comprehensive loss (income) attributable to noncontrolling interest	(4,021)	(1,745)	14,684	(4,711)
Comprehensive income attributable to common stockholders / unitholders	$ 213,670	$ 140,993	$ 460,063	$ 138,860

Consolidated Statement of Equit

Consolidated Statement of Equity - 6 months ended Jun. 30, 2015 - USD ($) shares in Thousands, $ in Thousands	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Distributions in Excess of Net Earnings [Member]	Non-controlling Interests [Member]
Balance at Dec. 31, 2014	$ 15,183,599	$ 78,235	$ 5,095	$ 18,467,009	$ (600,337)	$ (3,974,493)	$ 1,208,090
Balance, shares at Dec. 31, 2014	509,498		509,498
Consolidated net earnings	$ 491,572					488,794	2,778
Effect of equity compensation plans	37,379		$ 11	20,679			16,689
Effect of equity compensation plans, shares			1,085
Issuance of stock in at-the-market program, net of issuance costs	71,667		$ 16	71,651
Issuance of stock in equity offering, net of issuance costs, shares			1,662
Issuance of stock upon conversion of exchangeable debt	502,732		$ 119	502,613
Issuance of stock upon conversion of exchangeable debt, shares			11,872
Issuance of units related to KTR acquisition	181,170						181,170
Capital contributions	2,354,697						2,354,697
Foreign currency translation losses, net	(49,342)				(34,234)		(15,108)
Unrealized gains and amortization on derivative contracts, net	3,347				3,306		41
Distributions, allocations and other	(422,797)			67,396		(385,109)	(105,084)
Distributions, allocations and other, shares			5
Balance at Jun. 30, 2015	$ 18,354,024	$ 78,235	$ 5,241	$ 19,129,348	$ (631,265)	$ (3,870,808)	$ 3,643,273
Balance, shares at Jun. 30, 2015	524,122		524,122

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating activities:
Consolidated net earnings	$ 491,572	$ 164,433
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents	(24,488)	(24,004)
Equity-based compensation awards	26,718	28,986
Depreciation and amortization	359,996	321,857
Earnings from unconsolidated entities, net	(72,826)	(50,897)
Distributions and net changes in operating receivables from unconsolidated entities	51,562	10,392
Amortization of debt and lease intangibles	(5,257)	11,646
Gains on dispositions of investments in real estate, net	(386,497)	(186,638)
Losses on early extinguishment of debt, net	16,525	77,285
Unrealized foreign currency and derivative losses (gains) and related amortization, net	(4,506)	21,418
Deferred income tax expense (benefit)	1,197	(50,936)
Increase in accounts receivable and other assets	(14,629)	(35,234)
Increase (decrease) in accounts payable and accrued expenses and other liabilities	(83,478)	17,558
Net cash provided by operating activities	355,889	305,866
Investing activities:
Real estate development activity	(670,517)	(445,101)
Real estate acquisitions	(293,556)	(182,252)
KTR acquisition, net of cash received	(4,809,499)
Tenant improvements and lease commissions on previously leased space	(65,377)	(63,140)
Non-development capital expenditures	(26,089)	(19,666)
Proceeds from dispositions and contributions of real estate properties	926,833	869,373
Investments in and advances to unconsolidated entities	(340,841)	(656,352)
Return of investment from unconsolidated entities	67,036	127,379
Proceeds from repayment of note receivable	9,866	188,000
Proceeds from the settlement of net investment hedges	122,505	5,656
Payments on the settlement of net investment hedges	(981)	(13,511)
Net cash used in investing activities	(5,080,620)	(189,614)
Financing activities:
Proceeds from issuance of common stock	83,362	11,501
Dividends paid on common and preferred stock	(381,189)	(336,245)
Repurchase of preferred stock		(27,643)
Noncontrolling interest contributions	2,354,468	464,497
Noncontrolling interest distributions	(38,068)	(260,159)
Purchase of noncontrolling interest	(2,163)
Debt and equity issuance costs paid	(11,494)	(18,098)
Net proceeds from (payments on) credit facilities	435,450	(689,702)
Repurchase and payments of debt	(908,474)	(2,980,909)
Proceeds from issuance of debt	3,199,538	3,485,864
Net cash provided by (used in) financing activities	4,731,430	(350,894)
Effect of foreign currency exchange rate changes on cash	(6,366)	10,940
Net increase (decrease) in cash and cash equivalents	333	(223,702)
Cash and cash equivalents, beginning of period	350,692	491,129
Cash and cash equivalents, end of period	351,025	267,427
Prologis, L.P. [Member]
Operating activities:
Consolidated net earnings	491,572	164,433
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents	(24,488)	(24,004)
Equity-based compensation awards	26,718	28,986
Depreciation and amortization	359,996	321,857
Earnings from unconsolidated entities, net	(72,826)	(50,897)
Distributions and net changes in operating receivables from unconsolidated entities	51,562	10,392
Amortization of debt and lease intangibles	(5,257)	11,646
Gains on dispositions of investments in real estate, net	(386,497)	(186,638)
Losses on early extinguishment of debt, net	16,525	77,285
Unrealized foreign currency and derivative losses (gains) and related amortization, net	(4,506)	21,418
Deferred income tax expense (benefit)	1,197	(50,936)
Increase in accounts receivable and other assets	(14,629)	(35,234)
Increase (decrease) in accounts payable and accrued expenses and other liabilities	(83,478)	17,558
Net cash provided by operating activities	355,889	305,866
Investing activities:
Real estate development activity	(670,517)	(445,101)
Real estate acquisitions	(293,556)	(182,252)
KTR acquisition, net of cash received	(4,809,499)
Tenant improvements and lease commissions on previously leased space	(65,377)	(63,140)
Non-development capital expenditures	(26,089)	(19,666)
Proceeds from dispositions and contributions of real estate properties	926,833	869,373
Investments in and advances to unconsolidated entities	(340,841)	(656,352)
Return of investment from unconsolidated entities	67,036	127,379
Proceeds from repayment of note receivable	9,866	188,000
Proceeds from the settlement of net investment hedges	122,505	5,656
Payments on the settlement of net investment hedges	(981)	(13,511)
Net cash used in investing activities	(5,080,620)	(189,614)
Financing activities:
Proceeds from issuance of common stock	83,362	11,501
Dividends paid on common and preferred stock	(385,109)	(337,411)
Repurchase of preferred stock		(27,643)
Noncontrolling interest contributions	2,354,468	464,497
Noncontrolling interest distributions	(34,148)	(258,993)
Purchase of noncontrolling interest	(2,163)
Debt and equity issuance costs paid	(11,494)	(18,098)
Net proceeds from (payments on) credit facilities	435,450	(689,702)
Repurchase and payments of debt	(908,474)	(2,980,909)
Proceeds from issuance of debt	3,199,538	3,485,864
Net cash provided by (used in) financing activities	4,731,430	(350,894)
Effect of foreign currency exchange rate changes on cash	(6,366)	10,940
Net increase (decrease) in cash and cash equivalents	333	(223,702)
Cash and cash equivalents, beginning of period	350,692	491,129
Cash and cash equivalents, end of period	$ 351,025	$ 267,427

Consolidated Statement of Capit

Consolidated Statement of Capital - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015
Consolidated net earnings	$ 140,260	$ 491,572
Effect of equity compensation plans		37,379
Issuance of stock upon conversion of exchangeable debt		502,732
Issuance of units related to KTR acquisition		181,170
Capital contributions		2,354,697
Non-controlling Interests [Member]
Consolidated net earnings		2,778
Effect of equity compensation plans		16,689
Issuance of units related to KTR acquisition		181,170
Capital contributions		2,354,697
Prologis, L.P. [Member]
Beginning balance		15,183,599
Consolidated net earnings	140,260	491,572
Effect of equity compensation plans		37,379
Issuance of units in exchange for contribution of at-the-market offering proceeds		71,667
Issuance of stock upon conversion of exchangeable debt		502,732
Issuance of units related to KTR acquisition		181,170
Capital contributions		2,354,697
Foreign currency translation losses, net		(49,342)
Unrealized gains and amortization on derivative contracts, net		3,347
Distributions, allocations and other		(422,797)
Ending balance	18,354,024	18,354,024
Prologis, L.P. [Member] | Non-controlling Interests [Member]
Beginning balance		1,159,901
Consolidated net earnings		198
Capital contributions		2,354,697
Foreign currency translation losses, net		(14,684)
Distributions, allocations and other		(38,662)
Ending balance	3,461,450	3,461,450
Prologis, L.P. [Member] | Preferred [Member] | General Partner [Member]
Beginning balance		$ 78,235
Beginning balance, Units		1,565
Ending balance	$ 78,235	$ 78,235
Ending balance, Units	1,565	1,565
Prologis, L.P. [Member] | Common [Member] | General Partner [Member]
Beginning balance		$ 13,897,274
Beginning balance, Units		509,498
Consolidated net earnings		$ 488,794
Effect of equity compensation plans		$ 20,690
Effect of equity compensation plans, shares		1,085
Issuance of units in exchange for contribution of at-the-market offering proceeds		$ 71,667
Issuance of units in exchange for contributions of equity offering proceeds share		1,662
Issuance of stock upon conversion of exchangeable debt		$ 502,732
Issuance of stock upon conversion of exchangeable debt, shares		11,872
Foreign currency translation losses, net		$ (34,234)
Unrealized gains and amortization on derivative contracts, net		3,306
Distributions, allocations and other		$ (317,713)
Distributions, allocations and other, shares		5
Ending balance	$ 14,632,516	$ 14,632,516
Ending balance, Units	524,122	524,122
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Beginning balance		$ 48,189
Beginning balance, Units		1,767
Consolidated net earnings		$ 2,580
Effect of equity compensation plans		$ 16,689
Effect of equity compensation plans, shares		251
Issuance of units related to KTR acquisition		$ 181,170
Issuance of units related to KTR acquisition, shares		4,500
Foreign currency translation losses, net		$ (424)
Unrealized gains and amortization on derivative contracts, net		41
Distributions, allocations and other		$ (66,422)
Distributions, allocations and other, shares		(5)
Ending balance	$ 181,823	$ 181,823
Ending balance, Units	6,513	6,513

General

General	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
General	Note 1. General Business . Prologis, Inc. (or the “Parent”) commenced operations as a fully integrated real estate company in 1997, elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), and believes the current organization and method of operation will enable it to maintain its status as a REIT. The Parent is the general partner of Prologis, L.P. (or the “Operating Partnership”). Through the Operating Partnership, we are engaged in the ownership, acquisition, development and management of industrial properties in global and regional markets throughout the Americas, Europe and Asia. Our current business strategy consists of two operating business segments: Real Estate Operations and Strategic Capital. Our Real Estate Operations segment represents the ownership of industrial properties. Our Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities. See Note 13 for further discussion of our business segments. Unless otherwise indicated, the Notes to the Consolidated Financial Statements apply to both the Parent and the Operating Partnership. The terms “the Company,” “Prologis,” “we,” “our” or “us” means the Parent and Operating Partnership collectively. For each share of common stock or preferred stock the Parent issues, the Operating Partnership issues a corresponding common or preferred partnership unit, as applicable, to the Parent in exchange for the contribution of the proceeds from the stock issuance. At June 30, 2015, the Parent owned an approximate 98.77% common general partnership interest in the Operating Partnership, and 100% of the preferred units in the Operating Partnership. The remaining approximate 1.23% common limited partnership interests are owned by non-affiliated investors and certain current and former directors and officers of the Parent. As the sole general partner of the Operating Partnership, the Parent has full, exclusive and complete responsibility and discretion in the day-to-day management and control of the Operating Partnership. We operate the Parent and the Operating Partnership as one enterprise. The management of the Parent consists of the same members as the management of the Operating Partnership. These members are officers of the Parent and employees of the Operating Partnership or one of its subsidiaries. As general partner with control of the Operating Partnership, the Parent consolidates the Operating Partnership. Because the Parent’s only significant asset is its investment in the Operating Partnership, the assets and liabilities of the Parent and the Operating Partnership are the same on their respective financial statements. Basis of Presentation. The accompanying Consolidated Financial Statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and are presented in our reporting currency, the U.S. dollar. All material intercompany transactions with consolidated entities have been eliminated. The accompanying unaudited interim financial information has been prepared according to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations. Our management believes that the disclosures presented in these financial statements are adequate to make the information presented not misleading. In our opinion, all adjustments and eliminations, consisting only of normal recurring adjustments, necessary to present fairly the financial position and results of operations for both the Parent and the Operating Partnership for the reported periods have been included. The results of operations for such interim periods are not necessarily indicative of the results for the full year. The accompanying unaudited interim financial information should be read in conjunction with our Annual Report as filed with the SEC on Form 10-K for the fiscal year ended December 31, 2014, and other public information. Certain amounts included in the accompanying Consolidated Financial Statements for 2014 have been reclassified to conform to the 2015 financial statement presentation. Recent Accounting Pronouncements. In April 2015, the Financial Accounting Standards Board (the “FASB”) issued an accounting standard update that requires the presentation of debt issuance costs in the balance sheet as a deduction from the carrying amount of the related debt liability instead of a deferred charge. It is effective for annual reporting periods beginning after December 15, 2015, but early adoption is permitted. At June 30, 2015, we had $52.6 million of debt issuance costs in Other Assets in the Consolidated Balance Sheets that would be subject to the reclassification. In February 2015, the FASB issued an accounting standard update that amends the consolidation requirements in existing GAAP. Under the update, all entities, including limited partnerships and similar legal entities, are now within the scope of consolidation guidance, unless a scope exception applies. The presumption that a general partner controls a limited partnership has been eliminated. In addition, fees paid to decision makers that meet certain conditions no longer cause the decision makers to consolidate variable interest entities (“VIEs”). It is effective for annual reporting periods beginning after December 15, 2015, but early adoption is permitted and allows for either a full retrospective or a modified retrospective adoption approach. We are currently evaluating the impact the adoption of this standard will have on the Consolidated Financial Statements. In May 2014, the FASB issued an accounting standard update that requires companies to use a five step model to determine when to recognize revenue from customer contracts in an effort to increase consistency and comparability throughout global capital markets and across industries. Under the model, a company will identify the contract, identify any separate performance obligations in the contract, determine the transaction price, allocate the transaction price and recognize revenue when the performance obligation is satisfied. In July 2015, the FASB deferred the effective date by one year to December 15, 2017, for annual reporting periods beginning after that date. The FASB also permits early adoption of the standard, but not before the original effective date of December 15, 2016. We are currently evaluating the impact the adoption of this standard will have on the Consolidated Financial Statements.

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Business Combinations	Note Acquisition of KTR Capital Partners and Its Affiliates On May 29, 2015, we acquired the real estate assets and operating platform of KTR Capital Partners and its affiliates (“KTR”). The portfolio consisted of 315 operating properties aggregating 59 million square feet, 3.6 million square feet of properties under development and land parcels that will support an estimated build out of 6.8 million square feet. The properties were acquired by our consolidated co-investment venture Prologis U.S. Logistics Venture (“USLV”), of which we own 55%. The acquisition was funded through cash (which included the contribution of $2.3 billion from our venture partner and our share with newly issued debt as detailed in Note 7), the assumption of secured mortgage debt and the issuance of 4.5 million common limited partnership units in the Operating Partnership. We incurred $24.7 million of acquisition costs that are included in Other Expenses The allocation of the purchase price required a significant amount of judgment and was based on our valuations, estimates and assumptions of the acquisition date fair value of the tangible and intangible assets acquired and liabilities assumed. While the preliminary allocation of the purchase price is substantially complete, the valuation of the real estate properties is still being finalized. We do not expect future revisions, if any, to have a significant impact on our financial position or results of operations. The allocation of the purchase price was as follows (in thousands): Investments in real estate properties $ 5,618,992 Cash, accounts receivable and other assets 185,885 Debt, including premium (735,172 ) Accounts payable, accrued expenses and other liabilities (79,036 ) Total estimated purchase price 4,990,669 Our venture partner's share of purchase price (2,253,234 ) Common limited partnership units issued in the Operating Partnership (181,170 ) Prologis share of cash purchase price $ 2,556,265 The following pro forma financial information presents our results as though the KTR acquisition had been completed on January 1, 2014. The pro forma information does not reflect the actual results of operations had the transaction actually been completed on January 1, 2014, and it is not indicative of future operating results. The results for the three and six months ended June 30, 2015, include approximately one month of actual results for the acquisition, which includes the acquisition expenses, and two and five months of pro forma adjustments, respectively. Actual results in 2015 include rental income and rental expenses of the properties acquired of $35.3 million and $7.9 million, respectively, representing the period from acquisition through June 30, 2015. The following amounts are in thousands, except per share amounts: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Total revenues $ 576,055 $ 536,139 $ 1,134,918 $ 1,046,870 Net earnings attributable to common stockholders $ 153,582 $ 71,550 $ 498,791 $ 75,658 Net earnings per share attributable to common stockholders – Basic $ 0.29 $ 0.14 $ 0.96 $ 0.15 Net earnings per share attributable to common stockholders – Diluted $ 0.29 $ 0.12 $ 0.95 $ 0.15 These results include certain adjustments, primarily: (i) decreased revenues from the amortization of the net assets from the acquired leases with net favorable rents relative to estimated market rents; (ii) increased depreciation and amortization expense resulting from the adjustment of real estate assets to estimated fair value and recognition of intangible assets related to in-place leases; and (iii) additional interest expense attributable to the debt issued to finance our cash portion of the acquisition offset by lower interest expense due to the accretion of the fair value adjustment of debt. Acquisition of a Controlling Interest in Prologis North American Industrial Fund During 2014, we increased our ownership in Prologis North American Industrial Fund (“NAIF”) from 23.1% to 66.1% by acquiring the equity units from all but one partner for an aggregate of $679.0 million. This included the acquisition of $46.8 million of equity units on October 20, 2014, that resulted in our gaining control over NAIF, based on the rights of the limited partners, and therefore we began consolidating NAIF at that date. The total purchase price was $1.1 billion, which included our investment in NAIF at the time of consolidation. The allocation of the purchase price required a significant amount of judgment and was based on our valuation, estimates and assumptions of the acquisition date fair value of the tangible and intangible assets acquired and liabilities assumed, for which we used external valuations as appropriate. While the preliminary allocation of the purchase price is substantially complete, the valuation of the real estate properties is still being finalized. We do not expect future revisions, if any, to have a significant impact on our financial position or results of operations. The allocation of the purchase price was as follows (in thousands): Investments in real estate properties $ 2,770,191 Cash, accounts receivable and other assets 132,261 Debt (1,195,213 ) Accounts payable, accrued expenses and other liabilities (70,226 ) Noncontrolling interests (554,493 ) Total purchase price $ 1,082,520

Real Estate

Real Estate	6 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Real Estate	Note 3. Real Estate Investments in real estate properties consisted of the following (dollars and square feet in thousands): Square Feet/Acres (1) No. of Buildings (1) June 30, December 31, June 30, December 31, June 30, December 31, 2015 2014 2015 2014 2015 2014 Industrial operating properties: Improved land - - - - - - - - $ 5,719,025 $ 4,227,637 Buildings and improvements 341,544 282,282 1,892 1,607 17,966,509 14,407,815 Development portfolio, including land costs: Prestabilized 9,810 7,448 29 24 694,240 547,982 Properties under development 23,883 22,844 53 55 853,155 925,998 Land 9,276 9,017 - - - - 1,597,802 1,577,786 Other real estate investments (2) 632,318 502,927 Total investments in real estate properties 27,463,049 22,190,145 Less accumulated depreciation 3,075,438 2,790,781 Net investments in real estate properties $ 24,387,611 $ 19,399,364 (1) Items indicated by ‘- -‘ are not applicable. (2) Included in other real estate investments are: (i) certain non-industrial real estate; (ii) our corporate office buildings; (iii) land parcels that are ground leased to third parties; (iv) certain infrastructure costs related to projects we are developing on behalf of others; (v) earnest money deposits associated with potential acquisitions and (vi) costs related to future development projects, including purchase options on land. Acquisitions Real estate acquisition activity for the six months ended June 30 was as follows (dollars and square feet in thousands): 2015 (1) 2014 Acquisitions of operating properties from third parties Number of industrial operating properties 10 3 Square feet 1,444 556 Real estate acquisition value $ 133,610 $ 42,203 (1) Excludes the properties acquired in the KTR acquisition, see Note 2 for additional information. Dispositions Real estate disposition activity for the six months ended June 30 was as follows (dollars and square feet in thousands): 2015 2014 Contributions to unconsolidated co-investment ventures Number of properties 16 110 Square feet 4,566 20,416 Net proceeds $ 418,485 $ 1,203,815 Net gains on contributions $ 63,686 $ 59,160 Dispositions to third parties Number of properties 50 65 Square feet 5,366 8,808 Net proceeds (1) $ 736,120 $ 576,004 Net gains on dispositions (1) $ 322,811 $ 127,478 (1) Dispositions to third parties include land sales. In June 2014, we launched the initial public offering for FIBRA Prologis, a Mexican REIT. In connection with the offering, FIBRA Prologis purchased 177 properties aggregating 29.7 million square feet (12.6 million square feet from our wholly-owned portfolio, 7.6 million square feet from our consolidated co-investment venture Mexico Fondo Logistico and 9.5 million square feet from our unconsolidated co-investment venture Prologis Mexico Industrial Fund). Based on this transaction, we recognized a gain on disposition of investments in real estate of $52.5 million, current tax expense of $32.4 million, deferred tax benefit of $55.5 million and earnings attributable to noncontrolling interests of $61.0 million.

Unconsolidated Entities

Unconsolidated Entities	6 Months Ended
	Jun. 30, 2015
Equity Method Investments And Joint Ventures [Abstract]
Unconsolidated Entities	Note Summary of Investments We have investments in entities through a variety of ventures. We co-invest in entities that own multiple properties with partners and investors and provide asset and property management services to these entities, which we refer to as co-investment ventures. These entities may be consolidated or unconsolidated, depending on the structure, our partner’s participation and other rights and our level of control of the entity. This note details our investments in unconsolidated co-investment ventures, which are accounted for using the equity method of accounting. See Note 9 for more detail regarding our consolidated investments. We also have other ventures, generally with one partner and that we do not manage, which we account for on the equity method. We refer to our investments in all entities accounted for under the equity method, both unconsolidated co-investment ventures and other ventures, collectively, as unconsolidated entities. Our investments in and advances to our unconsolidated entities are summarized as follows (in thousands): June 30, December 31, 2015 2014 Unconsolidated co-investment ventures $ 4,726,624 $ 4,665,918 Other ventures 184,881 158,806 Totals $ 4,911,505 $ 4,824,724 Unconsolidated Co-Investment Ventures The amounts recognized in Strategic Capital Income Earnings from Unconsolidated Entities, Net June 30, December 31, June 30, (dollars and square feet in millions) 2015 2014 2014 Americas: Number of ventures 3 3 4 Number of properties owned 600 590 808 Square feet 89.0 87.1 128.9 Total assets $ 6,919 $ 7,063 $ 9,450 Third-party debt $ 2,081 $ 2,280 $ 3,334 Total liabilities $ 2,208 $ 2,421 $ 3,584 Our investment balance (1) $ 1,524 $ 1,537 $ 2,067 Our weighted average ownership (2) 30.0 % 31.0 % 27.7 % Europe: Number of ventures 4 4 4 Number of properties owned 669 636 589 Square feet 154.8 147.4 137.8 Total assets $ 11,450 $ 11,463 $ 12,236 Third-party debt $ 2,533 $ 2,644 $ 2,704 Total liabilities $ 3,461 $ 3,524 $ 3,896 Our investment balance (1) $ 2,844 $ 2,773 $ 2,969 Our weighted average ownership (2) 39.4 % 38.8 % 38.7 % Asia: Number of ventures 2 2 2 Number of properties owned 56 52 46 Square feet 27.1 26.2 23.6 Total assets $ 4,217 $ 4,135 $ 4,270 Third-party debt $ 1,701 $ 1,652 $ 1,807 Total liabilities $ 1,932 $ 1,749 $ 2,049 Our investment balance (1) (3) $ 359 $ 356 $ 364 Our weighted average ownership (2) 15.0 % 15.0 % 15.0 % Total: Number of ventures 9 9 10 Number of properties owned 1,325 1,278 1,443 Square feet 270.9 260.7 290.3 Total assets $ 22,586 $ 22,661 $ 25,956 Third-party debt $ 6,315 $ 6,576 $ 7,845 Total liabilities $ 7,601 $ 7,694 $ 9,529 Our investment balance (1) $ 4,727 $ 4,666 $ 5,400 Our weighted average ownership (2) 32.0 % 32.0 % 30.7 % Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2015 2014 2015 2014 Americas (4): Revenues $ 154,838 $ 178,692 $ 304,852 $ 346,928 Net operating income $ 117,387 $ 132,250 $ 229,470 $ 251,485 Net earnings (loss) $ 28,145 $ (9,744 ) $ 44,045 $ (7,570 ) Europe: Revenues $ 230,145 $ 252,260 $ 464,858 $ 498,956 Net operating income $ 181,094 $ 196,764 $ 361,926 $ 392,845 Net earnings $ 67,484 $ 65,624 $ 118,443 $ 128,291 Asia: Revenues $ 68,260 $ 69,731 $ 136,178 $ 138,219 Net operating income $ 52,747 $ 53,676 $ 105,981 $ 107,293 Net earnings $ 22,230 $ 16,499 $ 45,620 $ 38,494 Total: Revenues $ 453,243 $ 500,683 $ 905,888 $ 984,103 Net operating income $ 351,228 $ 382,690 $ 697,377 $ 751,623 Net earnings $ 117,859 $ 72,379 $ 208,108 $ 159,215 (1) The difference between our ownership interest of the venture’s equity and our investment balance results principally from three types of transactions: (i) deferring a portion of the gains we recognize from a contribution of a property to the venture ($378.2 million and $322.9 million at June 30, 2015, and December 31, 2014, respectively); (ii) recording additional costs associated with our investment in the venture; and (iii) advances to the venture. (2) Represents our weighted average ownership interest in all co-investment ventures based on each entity’s contribution to total assets, before depreciation, net of other liabilities. (3) At June 30, 2015, and December 31, 2014, we had receivables from Nippon Prologis REIT, Inc. (“NPR”) of $84.1 million and $85.9 million, respectively, related to customer security deposits that are made through a leasing company owned by Prologis that pertain to properties owned by NPR. There is a corresponding payable to NPR’s customers in Other Liabilities (4) As discussed in Note 3, we formed and invested in FIBRA Prologis in June 2014. In connection with the transaction, we concluded our unconsolidated co-investment venture in Mexico. As discussed in Note 2, we began consolidating NAIF in October 2014. The following is summarized information regarding the amounts we recognized in the Consolidated Statements of Operations as our share of the earnings from our investments in unconsolidated co-investment ventures (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Earnings (loss) from unconsolidated co-investment ventures: Americas $ 9,760 $ (8,526 ) $ 14,558 $ (8,855 ) Europe 27,306 26,742 48,814 52,237 Asia 3,785 2,838 7,715 6,503 Total earnings from unconsolidated co-investment ventures, net $ 40,851 $ 21,054 $ 71,087 $ 49,885 Strategic capital and other income: Americas $ 16,614 $ 47,230 $ 30,975 $ 61,555 Europe 21,001 19,453 39,394 41,153 Asia 8,856 9,410 17,405 18,207 Total strategic capital income 46,471 76,093 87,774 120,915 Development management and other income 1,546 874 3,186 1,581 Total strategic capital and other income $ 48,017 $ 76,967 $ 90,960 $ 122,496 Equity Commitments Related to Certain Unconsolidated Co-Investment Ventures The following table summarizes the remaining equity commitments at June 30, 2015 (in millions): Equity commitments Expiration date for remaining commitments Prologis Venture Partners Total Prologis Targeted U.S. Logistics Fund $ - $ 346 $ 346 2015 – 2016 Prologis Targeted Europe Logistics Fund (1) 37 312 349 2015 – 2017 Prologis European Properties Fund II (1) 15 78 93 2015 – 2016 Europe Logistics Venture 1 (1) 3 19 22 September 2015 Prologis European Logistics Partners Sàrl (2) 53 53 106 February 2016 Prologis China Logistics Venture 218 1,233 1,451 2015 and 2017 Total $ 326 $ 2,041 $ 2,367 (1) Equity commitments are denominated in euro and reported above in U.S. dollars based on an exchange rate of $1.12 U.S. dollars to the euro. (2) The equity commitments for this venture are expected to fund the future repayment of debt that is denominated in British pounds sterling. The commitments will be called in euros and are reported above in U.S. dollars using an exchange rate of $1.57 U.S. dollars to the British pounds sterling.

Assets Held for Sale

Assets Held for Sale	6 Months Ended
	Jun. 30, 2015
Real Estate Assets Held For Development And Sale [Abstract]
Assets Held for Sale	Note We had certain investments in real estate properties that met the criteria to be classified as held for sale at June 30, 2015, and December 31, 2014. These properties are expected to be sold to third parties or contributed to unconsolidated co-investment ventures. The amounts included in held for sale represented real estate investment balances and the related assets and liabilities for each property. Assets held for sale consisted of the following (dollars and square feet in thousands): June 30, 2015 December 31, 2014 Number of operating properties 31 7 Square feet 6,805 457 Total assets held for sale (1) $ 514,752 $ 43,934 Total liabilities associated with assets held for sale – included in Other Liabilities $ 8,960 $ - (1) Includes two parcels of land held for sale at June 30, 2015.

Note Receivable Backed by Real

Note Receivable Backed by Real Estate	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Note Receivable Backed by Real Estate	Note In February 2015, we received a $197.5 million note backed by real estate in connection with the disposition of real estate to a third party. We earn interest at an annual rate of 2.0%. The note and all accrued interest are due in February 2016.

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	Note All of the debt is incurred by the Operating Partnership. The Parent does not have any indebtedness, but guarantees the unsecured debt of the Operating Partnership. Our debt consisted of the following (dollars in thousands): June 30, 2015 December 31, 2014 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding Credit facilities 1.2 % $ 440,173 - $ - Senior notes 3.3 % 6,616,471 3.6 % 6,076,920 Exchangeable senior notes - - 3.3 % 456,766 Term loans 1.3 % 2,426,848 1.3 % 572,730 Other debt 6.2 % 16,035 6.2 % 16,086 Secured mortgage debt 6.7 % 749,895 6.1 % 1,050,591 Secured mortgage debt of consolidated entities 2.6 % 1,871,883 2.5 % 1,207,106 Totals 2.9 % $ 12,121,305 3.6 % $ 9,380,199 (1) The interest rates presented represent the effective interest rates (including amortization of the noncash premiums or discounts). (2) Included in the outstanding balances are borrowings denominated in non-U.S. currency, principally: euro ($3.6 billion) and Japanese yen ($1.0 billion). Credit Facilities We have a global senior credit facility (the “Global Facility”), under which we may draw in U.S. dollars, euro, Japanese yen, British pounds sterling and Canadian dollars on a revolving basis up to $2.3 billion at June 30, 2015, subject to currency fluctuations. We also have a ¥45 billion ($367.5 million at June 30, 2015) Japanese yen revolver (the “Revolver”) with availability to increase to ¥56.5 billion. We refer to the Global Facility and the Revolver, collectively, as our “Credit Facilities.” Information about our Credit Facilities at June 30, 2015 was as follows (in millions): Aggregate lender commitments $ 2,667 Less: Borrowings outstanding 440 Outstanding letters of credit 35 Current availability $ 2,192 Senior Notes In May 2015, we issued €700.0 million ($785.5 million) of senior notes with an interest rate of 1.375%, maturing in 2021, at 99.112% of par value for an all-in rate of 1.531%. We used the net proceeds for general corporate purposes and to fund our share of the purchase price of KTR. Exchangeable Senior Notes During March 2015, the holders of the exchangeable notes exchanged $459.8 million of their notes for 11.9 million shares of common stock of the Parent and $0.2 million of their notes for cash. The fair value of the derivative associated with the exchangeable debt was a liability of $51.3 million at December 31, 2014. The fair value of the exchange option was $43.0 million immediately before the exchange in March 2015. When the debt was exchanged into common stock, the value of the derivative associated with the debt was reclassified to Additional Paid-In Capital Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net Term Loans In May 2015, we entered into an unsecured senior term loan agreement (the “Senior Term Loan”) under which we can draw in U.S. dollars in an aggregate amount not to exceed $1.0 billion. We may pay down and reborrow under the Senior Term Loan. The interest rate on the Senior Term Loan is LIBOR plus 100 basis points and is scheduled to mature in 2016; however we may extend the maturity date by one year, subject to the satisfaction of certain conditions and the payment of an extension fee. The Senior Term Loan contains customary representations, covenants and defaults (including cross payment default and cross-acceleration to other recourse indebtedness of more than $100.0 million). The Senior Term Loan was fully drawn at June 30, 2015. In June 2015, we entered into an unsecured senior term loan agreement (the “2015 Yen Term Loan”) under which we can draw in Japanese yen in an aggregate amount not to exceed ¥65.0 billion ($530.8 million at June 30, 2015). The interest rate on the 2015 Yen Term Loan is yen LIBOR plus 110 basis points and is scheduled to mature in 2022. The 2015 Yen Term Loan was fully drawn at June 30, 2015. In June 2014, we entered into an unsecured senior term loan agreement (the “Euro Term Loan”) under which loans can be obtained in U.S. dollars, euro, Japanese yen and British pounds sterling in an aggregate amount not to exceed €500 million at the time of borrowing. At December 31, 2014 we had an outstanding balance of €190 million ($230.7 million). During 2015, we borrowed an additional €240 million ($272.6 million). During the second quarter of 2015, we paid off the entire euro balance and borrowed $561.9 million, causing the Euro Term Loan to be fully drawn at June 30, 2015. In May 2014, we entered into an unsecured senior term loan agreement (the “2014 Yen Term Loan”) under which we can draw in Japanese yen in an aggregate amount not to exceed ¥40.9 billion ($334.1 million at June 30, 2015) that is scheduled to mature in 2021. The 2014 Yen Term Loan was fully drawn at June 30, 2015. Secured Mortgage Debt and Secured Mortgage Debt of Consolidated Entities During 2015, we repurchased $286.5 million of secured mortgage debt prior to maturity, resulting in a net loss on early extinguishment of $16.5 million. In connection with the KTR acquisition, USLV assumed secured mortgage debt valued at $735.2 million, which includes premiums of $30.5 million. The debt has effective interest rates ranging from 2.7% to 2.9% and is scheduled to mature July 2017 to January 2020. See Note 2 for more information. Long-Term Debt Maturities Principal payments due on our debt, for the remainder of 2015 and for each of the years in the period ending December 31, 2024, and thereafter were as follows at June 30, 2015 (in millions): Prologis Unsecured Credit Senior Term Loans and Secured Mortgage Consolidated Entities' Total Consolidated Maturity Facilities Notes Other Debt Debt Total Debt Debt 2015 (1) $ - $ - $ 1 $ 18 $ 19 $ 5 $ 24 2016 (2) - - 1,001 160 1,161 455 1,616 2017 (3) 391 377 563 6 1,337 515 1,852 2018 49 262 1 113 425 403 828 2019 - 693 1 283 977 143 1,120 2020 - 1,037 1 6 1,044 252 1,296 2021 - 1,283 335 11 1,629 1 1,630 2022 - 783 532 7 1,322 1 1,323 2023 - 850 1 7 858 1 859 2024 - 783 1 129 913 1 914 Thereafter - 560 6 - 566 4 570 Subtotal 440 6,628 2,443 740 10,251 1,781 12,032 Unamortized premiums (discounts), net - (12 ) - 10 (2 ) 91 89 Totals $ 440 $ 6,616 $ 2,443 $ 750 $ 10,249 $ 1,872 $ 12,121 (1) We expect to repay the amounts maturing in 2015 related to our wholly owned debt with cash generated from operations, proceeds from the disposition of wholly owned real estate properties and with borrowings on our Credit Facilities. (2) Included in our debt is a Senior Term Loan that can be extended until 2017. (3 ) Included in our debt is a Global Facility that can be extended until 2018 and a term loan that can be extended until 2019. Debt Covenants Our debt agreements contain various covenants, including maintenance of specified financial ratios. At June 30, 2015, we were in compliance with all covenants.

Stockholders' Equity of Prologi

Stockholders' Equity of Prologis, Inc. and Partners' Capital of the Operating Partnership	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Stockholders’ Equity of Prologis, Inc. and Partners’ Capital of the Operating Partnership	Note Common Stock of Prologis, Inc. During the first quarter of 2015, we issued 1.7 million shares of common stock under our at-the-market (“ATM”) program, which generated $71.7 million in net proceeds. As discussed in Note 7, we issued 11.9 million shares of stock in the Parent in exchange for the settlement of our exchangeable notes in March 2015. Partners’ Capital of the Operating Partnership As discussed in Note 2, we issued 4.5 million common limited partnership units in the Operating Partnership in connection with the KTR acquisition.

Noncontrolling Interests

Noncontrolling Interests	6 Months Ended
	Jun. 30, 2015
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Note 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 exchangeable into shares of the Parent’s common stock (or cash), generally at a rate of one share of common stock to one unit. We also consolidate several entities in which we do not own 100% of the equity and the units of the entity are not exchangeable into our common stock. Prologis, Inc. The noncontrolling interest of the Parent includes the noncontrolling interests presented in the Operating Partnership, as well as the common limited partnership units in the Operating Partnership that are not owned by the Parent. The following is a summary of the noncontrolling interests and the consolidated entity’s total investment in real estate and debt at June 30, 2015, and December 31, 2014 (dollars and units in thousands): Our Ownership Percentage Noncontrolling Interest Total Investment In Real Estate Debt 2015 2014 2015 2014 2015 2014 2015 2014 Partnerships with exchangeable units (1) various various $ 67,549 $ 70,716 $ 711,325 $ 711,310 $ - $ - Prologis North American Industrial Fund 66.1 % 66.1 % 539,279 544,718 2,753,882 2,771,299 1,121,355 1,188,836 Prologis U.S. Logistics Venture (2) 55.0 % 55.0 % 2,759,418 427,307 6,676,499 1,006,183 734,172 - Prologis Brazil Logistics Partners Fund I (3) 50.0 % 50.0 % 59,702 68,533 - - - - Other consolidated entities various various 35,502 48,627 297,788 307,686 16,356 18,269 Prologis, L.P. noncontrolling interests 3,461,450 1,159,901 10,439,494 4,796,478 1,871,883 1,207,105 Limited partners in Prologis, L.P. (4) (5) (6) 181,823 48,189 - - - - Prologis, Inc. noncontrolling interests $ 3,643,273 $ 1,208,090 $ 10,439,494 $ 4,796,478 $ 1,871,883 $ 1,207,105 (1) At June 30, 2015, and December 31, 2014, limited partnership units were exchangeable into cash or, at our option, 1,835 and 1,887 shares, respectively, of the Parent’s common stock. All of these 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. (2) As discussed in Note 2, USLV acquired a portfolio of properties from KTR in May 2015. We received a contribution of $2.3 billion from our venture partner to fund their share of this acquisition. (3) The assets of Prologis Brazil Logistics Partners Fund I are primarily investments in unconsolidated entities of $127.5 million and $152.0 million at June 30, 2015, and December 31, 2014, respectively. For additional information on our unconsolidated investments, see Note 4. (4) As discussed in Note 2, we issued 4.5 million common limited partnership units in the Operating Partnership in connection with the KTR acquisition. (5 ) At June 30, 2015, and December 31, 2014, limited partnership units in the Operating Partnership were exchangeable into cash or, at our option, 6,262 and 1,767 shares, respectively, of the Parent’s common stock. At June 30, 2015 and December 31, 2014, the fair value of the 6,262 and 1,767 shares, respectively, would be $232.3 million and $76.0 million, respectively, based on the closing stock price of the Parent’s common stock. At June 30, 2015, and December 31, 2014, there were 1,244 and 113 LTIP Units (as defined in Note 10) outstanding, respectively, associated with our long-term compensation plan that are not exchangeable into the Parent’s common stock until they vest. All of these outstanding limited partnership units receive quarterly cash distributions equal to the quarterly distributions paid on our common stock pursuant to the terms of the partnership agreement. (6) During the six months ended June 30, 2015, we allocated $49.7 million from the limited partners in Prologis, L.P. to common stockholders of Prologis, Inc. to align the per share/unit amount.

Long-Term Compensation

Long-Term Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Long-Term Compensation	Note 10. Long-Term Compensation At June 30, 2015, we had points awarded under our Outperformance Plan (“OPP”) outstanding. We also had restricted stock, restricted stock units (“RSUs”), Operating Partnership units (“LTIP Units”), special outperformance plan type of LTIP Units (“OPP LTIP Units”) and stock options outstanding under our incentive plans. See details in the following sections: Outperformance Plan We granted points under our OPP on February 10, 2015, with a fair value of $26.5 million at the date of grant using a Monte Carlo valuation model that assumed a risk free interest rate of 0.86% and an expected volatility of 28%. Such points relate to a three-year performance period that began on January 1, 2015, and will end on December 31, 2017. At June 30, 2015, we also have OPP points outstanding for the 2013 – 2015 and 2014 – 2016 performance periods under the OPP. Restricted Stock Units The activity for RSUs for the six months ended June 30, 2015, was as follows (awards in thousands): Number of Weighted Average Number of RSUs Grant-Date Fair Value RSUs Vested Balance at January 1, 2015 2,521 $ 39.38 106 Granted 678 Vested and distributed (997 ) Forfeited (538 ) Balance at June 30, 2015 1,664 $ 42.15 108 In 2014, certain participants in our long-term incentive plan were offered an election to exchange outstanding but unvested full value awards for LTIP Units. The exchange for these units was completed in January 2015. Included in the forfeited unvested RSUs were 0.5 million units that were forfeited upon exchange for unvested LTIP Units per this election. Operating Partnership Units The activity for LTIP Units for the six months ended June 30, 2015, was as follows (units in thousands): Number of Weighted Average Number of LTIP Units Grant-Date Fair Value LTIP Units Vested Balance at January 1, 2015 113 $ 41.43 - Granted 1,131 Balance at June 30, 2015 1,244 $ 42.21 251 In December 2014, participants in the OPP were offered the election to exchange their previously granted participation points into OPP LTIP Units. In such election, participation points were exchanged into OPP LTIP Units with respect to all outstanding performance periods. The performance criteria for the 2012 – 2014 performance period were not met and as a result the OPP LTIP Units associated with the 2012 – 2014 performance period were forfeited with no financial impact in 2015. At June 30, 2015, 1.9 million OPP LTIP Units were outstanding with respect to the 2013 – 2015 and 2014 – 2016 performance periods. OPP LTIP Units receive quarterly cash distributions equal to one-tenth of the quarterly distributions paid on our common stock pursuant to the terms of the partnership agreement of the Operating Partnership. Stock Options We have 4.9 million stock options outstanding and exercisable at June 30, 2015, with a weighted average exercise price of $34.98. No stock options were granted in 2015 or 2014.

Earnings Per Common Share _ Uni

Earnings Per Common Share / Unit	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Common Share / Unit	Note 11. Earnings Per Common Share/Unit We determine basic earnings per share/unit based on the weighted average number of shares of common stock/units outstanding during the period. We compute diluted earnings per share/unit based on the weighted average number of shares outstanding combined with the incremental weighted average effect from all outstanding potentially dilutive instruments. The computation of our basic and diluted earnings per share/unit (in thousands, except per share/unit amounts) is as follows: Three Months Ended Six Months Ended June 30, June 30, Prologis, Inc. 2015 2014 2015 2014 Net earnings attributable to common stockholders $ 140,240 $ 72,715 $ 485,446 $ 77,381 Noncontrolling interest attributable to exchangeable limited partnership units 1,623 264 3,273 302 Gains, net of expenses, associated with exchangeable debt assumed exchanged - (7,498 ) (1,614 ) - Adjusted net earnings attributable to common stockholders $ 141,863 $ 65,481 $ 487,105 $ 77,683 Weighted average common shares outstanding – Basic (1) 523,476 499,112 518,791 498,919 Incremental weighted average effect on exchange of limited partnership units (2) 5,431 1,964 4,617 1,964 Incremental weighted average effect of equity awards and warrant 1,733 3,664 2,037 3,677 Incremental weighted average effect on exchange of exchangeable debt (3) - 11,879 4,382 - Weighted average common shares outstanding – Diluted (4) 530,640 516,619 529,827 504,560 Net earnings per share attributable to common stockholders: Basic $ 0.27 $ 0.15 $ 0.94 $ 0.16 Diluted $ 0.27 $ 0.13 $ 0.92 $ 0.15 Three Months Ended Six Months Ended June 30, June 30, Prologis, L.P. 2015 2014 2015 2014 Net earnings attributable to common unitholders $ 141,538 $ 72,973 $ 488,026 $ 77,655 Noncontrolling interest attributable to exchangeable limited partnership units 325 6 693 28 Gains, net of expenses, associated with exchangeable debt assumed exchanged - (7,498 ) (1,614 ) - Adjusted net earnings attributable to common unitholders $ 141,863 $ 65,481 $ 487,105 $ 77,683 Weighted average common partnership units outstanding – Basic (1) 527,071 500,879 521,548 500,686 Incremental weighted average effect on exchange of limited partnership units 1,836 197 1,860 197 Incremental weighted average effect of equity awards and warrant of Prologis, Inc. 1,733 3,664 2,037 3,677 Incremental weighted average effect on exchange of exchangeable debt (3) - 11,879 4,382 - Weighted average common partnership units outstanding – Diluted (4) 530,640 516,619 529,827 504,560 Net earnings per unit attributable to common unitholders: Basic $ 0.27 $ 0.15 $ 0.94 $ 0.16 Diluted $ 0.27 $ 0.13 $ 0.92 $ 0.15 (1) The increase in shares/units between the periods is primarily due to a warrant Norges Bank Investment Management exercised in December 2014, the ATM program activity in late 2014 and early 2015 and the conversion of exchangeable debt to shares/units in March 2015. (2) Earnings allocated to the exchangeable Operating Partnership units not held by the Parent has been included in the numerator and exchangeable Operating Partnership units have been included in the denominator for the purpose of computing diluted earnings per share for all periods as the per share/unit amount is the same. The incremental weighted average exchangeable Operating Partnership units were 3,595 and 1,767 for the three months ended June 30, 2015 and 2014, respectively, and 2,757 and 1,767 for the six months ended June 30, 2015 and 2014, respectively. (3) In March 2015, the exchangeable debt was settled primarily through the issuance of common stock. The adjustment in 2015 assumes the exchange occurred on January 1, 2015. (4) Our total potentially dilutive shares/units outstanding consisted of the following: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Total potentially dilutive stock awards and warrants 7,456 15,042 7,408 15,276 Total weighted average potentially dilutive shares/units from exchangeable debt - 11,879 4,382 11,879 Total weighted average potentially dilutive limited partnership units 1,836 1,948 1,860 1,949

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Financial Instruments and Fair Value Measurements	Note Derivative Financial Instruments In the normal course of business, our operations are exposed to global market risks, including the effect of changes in foreign currency exchange rates and interest rates. To manage these risks, we may enter into various derivative contracts, such as foreign currency contracts to manage foreign currency exposure, and interest rate swaps to manage the effect of interest rate fluctuations. We do not use derivative financial instruments for trading or speculative purposes. All of our derivative financial instruments are customized derivative transactions and are not exchange-traded. Management reviews our hedging program, derivative positions and overall risk management strategy on a regular basis. We enter into only those transactions we believe will be highly effective at offsetting the underlying risk. There have been no significant changes in our policy or strategy from what was disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2014. Foreign Currency We primarily manage our foreign currency exposure by borrowing in the currencies in which we invest. In certain circumstances, we may issue debt in a currency that is not the same functional currency of the borrowing entity to offset the translation and economic exposures related to our net investment in international subsidiaries. To mitigate the impact of the translation from the fluctuations in exchange rates, we may designate the debt as a nonderivative financial instrument hedge. We also hedge our investments in certain international subsidiaries using foreign currency derivative contracts (net investment hedges) to offset the translation and economic exposures related to our investments in these subsidiaries by locking in a forward exchange rate at the inception of the hedge. To the extent we have an effective hedging relationship, we report all changes in fair value of the hedged portion of the nonderivative financial instruments and net investment hedges in equity in the foreign currency translation component of Accumulated Other Comprehensive Loss (“AOCI”) AOCI Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net We may use foreign currency option contracts, including puts, calls and collars to mitigate foreign currency exchange rate risk associated with the translation of our projected net operating income of our international subsidiaries, principally in Canada, Europe and Japan. A collar contract combines put and call options into one contract with the purchase of a foreign currency put option, combined with the sale of a foreign currency call option such that there is no cash outlay at execution. This strategy effectively locks in a range around the rate at which net operating earnings of our international subsidiaries will be translated into U.S. dollars. Foreign currency option contracts are not designated as hedges as they do not meet hedge accounting requirements. Changes in the fair value of non-hedge designated derivatives are recorded directly in earnings within the line item Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net Interest Rate Our interest rate risk management strategy is to limit the impact of future interest rate changes on earnings and cash flows as well as to stabilize interest expense and manage our exposure to interest rate movements. We may enter into interest rate swap agreements that allow us to receive variable-rate amounts from a counterparty in exchange for us making fixed-rate payments over the life of the agreement, to offset the exposure of variable-rate debt obligations. The effective portion of the gain or loss on the derivative is reported as a component of AOCI Interest Expense Interest Expense The following tables summarize the activity in our derivative instruments for the six months ended June 30 (in millions, except for weighted average forward rates and number of active contracts): 2015 Foreign Currency Contracts Local Currency Net Investment Forward Contracts Forward and Option Contracts (1) Interest Rate Swaps EUR GBP JPY EUR GBP (2) JPY CAD JPY Notional amounts at January 1 € 300 £ 238 ¥ 24,136 € 284 £ - ¥ - $ - ¥ 40,916 New contracts (3) - 118 43,373 198 126 12,740 49 65,000 Matured or expired contracts (300 ) (118 ) (67,509 ) (254 ) (53 ) (2,800 ) (7 ) - Notional amounts at June 30, € - £ 238 ¥ - € 228 £ 73 ¥ 9,940 $ 42 ¥ 105,916 Foreign Currency Contracts U.S. Dollar Net Investment Forward Contracts Forward and Option Contracts (1) Interest Rate Swaps Notional amounts at January 1 $ 400 $ 400 $ 250 $ 354 $ - $ - $ - $ 398 New contracts (3) - 186 353 224 188 109 40 527 Matured or expired contracts (400 ) (200 ) (603 ) (311 ) (79 ) (24 ) (6 ) - Notional amounts at June 30, $ - $ 386 $ - $ 267 $ 109 $ 85 $ 34 $ 925 Weighted average forward rate at June 30, - 1.62 - 1.17 1.31 117.07 1.23 115.47 Active contracts at June 30, - 3 - 15 12 12 6 4 2014 Foreign Currency Contracts Local Currency Net Investment Forward Contracts Option Contracts (1) Interest Rate Swaps EUR JPY EUR USD Notional amounts at January 1 € 600 ¥ 24,136 € - $ 71 New contracts 1,446 59,083 33 - Matured or expired contracts (1,199 ) (59,083 ) (33 ) - Notional amounts at June 30, € 847 ¥ 24,136 € - 71 Foreign Currency Contracts U.S. Dollar Net Investment Forward Contracts Option Contracts (1) Interest Rate Swaps Notional amounts at January 1 $ 800 $ 250 $ - $ 71 New contracts 1,979 578 46 - Matured or expired contracts (1,642 ) (578 ) (46 ) - Notional amounts at June 30, $ 1,137 $ 250 $ - $ 71 (1) During the six months ended June 30, 2015 and 2014, we exercised 13 and 1 option contracts, respectively. We realized gains of $4.0 million and $6.2 million for the three and six months ended June 30, 2015, respectively, and $0.1 million for the three and six months ended June 30, 2014, in Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net (2) Included in our British pounds sterling denominated option contracts are six forward contracts to sell British pounds sterling and buy euros. These forwards have a notional amount of £35.0 million (€46.8 million) and were reported in this table using a weighted average exchange rate of $1.11 U.S. dollars to the euro. (3) In the second quarter of 2015, we entered into two contracts to effectively fix the interest rate on the 2015 Yen Term Loan. See Note 7 for more information on the 2015 Yen Term Loan. The following table presents the fair value of our derivative instruments (in thousands): June 30, 2015 December 31, 2014 Asset Liability Asset Liability Net investment hedges - euro denominated (1) $ - $ - $ 22,891 $ - Net investment hedges - yen denominated (1) - - 46,934 - Net investment hedges - pound sterling denominated 12,543 203 29,097 - Foreign currency options - euro denominated (2) 14,826 463 7,742 - Foreign currency options - yen denominated (2) 2,313 - - - Foreign currency options - pound sterling denominated (2) - 5,136 - - Foreign currency options - Canadian dollar denominated (2) 414 - - - Interest rate swap hedges 97 2,255 - 1,395 Total fair value of derivatives $ 30,193 $ 8,057 $ 106,664 $ 1,395 (1) During the second quarter of 2015, we terminated our euro and yen denominated net investment hedges. See below for additional information about the gains recognized associated with these net investment hedges. (2) As discussed above, the foreign currency options are not designated as hedges. We recognized losses of $10.6 million and gains of $9.5 million in Foreign Currency and Derivative Gains and (Losses) and Related Amortization, Net The change in Other Comprehensive Income (Loss) The following table presents the gains and losses associated with the change in fair value for the effective portion of our derivative and nonderivative hedging instruments included in Other Comprehensive Income (Loss) Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Derivative net investment hedges (1) $ (28,984 ) $ (6,195 ) $ 34,194 $ (23,109 ) Interest rate swap hedges (2) (2,341 ) (187 ) (759 ) (190 ) Our share of derivatives from unconsolidated co-investment ventures 1,879 (1,977 ) 4,106 (3,081 ) Total gain (loss) on derivative instruments (29,446 ) (8,359 ) 37,541 (26,380 ) Nonderivative net investment hedges (3) (111,537 ) 15,850 223,403 10,320 Total gain (loss) on derivative and nonderivative hedging instruments $ (140,983 ) $ 7,491 $ 260,944 $ (16,060 ) (1) This includes gains of $120.1 million and $121.5 million for the three and six months ended June 30, 2015, respectively, upon the settlement of net investment hedges. For the three and six months ended June 30, 2014, we recorded losses of $4.5 million and $11.4 million, respectively. (2) The amounts reclassified to interest expense for the three and six months ended June 30, 2015 and 2014, respectively, were not considered significant. For the next 12 months from June 30, 2015, we estimate an additional expense for $2.4 million will be reclassified to Interest Expense (3) At June 30, 2015, and December 31, 2014, we had €3.2 billion ($3.6 billion) and €2.5 billion ($3.0 billion) of debt, net of accrued interest, respectively, designated as non-derivative financial instrument hedges of our net investment in international subsidiaries. We had €97.6 million ($118.5 million) of debt that was not designated as a non-derivative financial instrument hedge at December 31, 2014. We recognized unrealized losses of $5.4 million and unrealized gains of $10.0 million in Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net 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 upon disposition. Fair Value Measurements on a Recurring Basis At June 30, 2015, and December 31, 2014, other than the derivatives discussed previously and the embedded derivative in Note 7, we did not have any significant financial assets or financial liabilities that are measured at fair value on a recurring basis in the Consolidated Financial Statements. We determined the fair value of our derivative instruments using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, foreign exchange rates, and implied volatilities. We determined the fair values of our interest rate swaps using the market standard methodology of netting the discounted future fixed cash receipts or payments and the discounted expected variable cash payments. We based the variable cash payments on an expectation of future interest rates, or forward curves, derived from observable market interest rate curves. We based the fair values of our net investment hedges on the change in the spot rate at the end of the period as compared with the strike price at inception. We incorporate credit valuation adjustments to appropriately reflect both our nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative contracts for the effect of nonperformance risk, we have considered 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 assessed 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. As a result, all of our derivatives held at June 30, 2015, and December 31, 2014, were classified as Level 2 of the fair value hierarchy. Fair Value Measurements on Nonrecurring Basis Assets measured at fair value on a nonrecurring basis in the Consolidated Financial Statements consist of real estate assets and investments in and advances to unconsolidated entities that were subject to impairment charges. No assets met these criteria at June 30, 2015, or December 31, 2014. Fair Value of Financial Instruments At June 30, 2015, and December 31, 2014, our carrying amounts of certain financial instruments, including cash and cash equivalents, restricted cash, accounts and notes receivable, accounts payable and accrued expenses were representative of their fair values because of the short-term nature of these instruments. At June 30, 2015, we estimated the fair value of our senior notes and at December 31, 2014, we estimated the fair value of our senior notes and exchangeable senior notes based upon quoted market prices for the same (Level 1) or similar (Level 2) issues when current quoted market prices were available, and we estimated the fair value of our Credit Facilities, term loans, secured mortgage debt and assessment bonds by discounting the future cash flows using rates and borrowing spreads currently available to us (Level 3). The differences in the fair value of our debt from the carrying value in the table below are the result of differences in interest rates and/or borrowing spreads that were available to us at June 30, 2015, and December 31, 2014, as compared with those in effect when the debt was issued or acquired, including reduced borrowing spreads resulting from our improved credit ratings. The senior notes and many of the issues of secured mortgage debt contain pre-payment penalties or yield maintenance provisions that could make the cost of refinancing the debt at lower rates exceed the benefit that would be derived from doing so. The following table reflects the carrying amounts and estimated fair values of our debt (in thousands): June 30, 2015 December 31, 2014 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 440,173 $ 440,377 $ - $ - Senior notes 6,616,471 6,927,802 6,076,920 6,593,657 Exchangeable senior notes - - 456,766 511,931 Term loans and other debt 2,442,883 2,445,631 588,816 591,810 Secured mortgage debt 749,895 849,260 1,050,591 1,173,488 Secured mortgage debt of consolidated entities 1,871,883 1,875,709 1,207,106 1,209,271 Total debt $ 12,121,305 $ 12,538,779 $ 9,380,199 $ 10,080,157

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Business Segments	Note Our current business strategy includes two operating segments: Real Estate Operations and Strategic Capital. We generate revenues, earnings, net operating income and cash flows through our segments, as follows: · Real Estate Operations. This operating segment represents the ownership of industrial operating properties and is the main source of our revenue and earnings. We collect rent from our customers through operating leases, including reimbursements for the majority of our operating costs. Each operating property is considered to be an individual operating segment with similar economic characteristics; these properties are combined within the reportable segment based on geographic location. Our Real Estate Operations segment also includes development, re-development and acquisition activities that lead to rental operations. We develop, re-develop and acquire industrial properties primarily in global and regional markets to meet our customers’ needs. Within this line of business, we capitalize on the following: (i) the land that we currently own; (ii) the development expertise of our local teams; (iii) our global customer relationships; and (iv) the demand for high-quality distribution facilities. Land held for development, properties currently under development and land we own and lease to customers under ground leases are included in this segment. · Strategic Capital. This operating segment represents the management of unconsolidated co-investment ventures. We invest with partners and investors through our ventures, both private and public. We tailor industrial portfolios to investors’ specific needs and deploy capital with a focus on larger, ventures with longer duration and open-ended funds with leading global institutions. These private and public vehicles provide capital for distinct geographies across our global platform. We hold a significant ownership interest in these ventures; we believe this aligns our interests with those of our partners. We generate strategic capital revenues from our unconsolidated co-investment ventures through asset management and property management services and we earn additional revenues from leasing, acquisition, construction, development and disposition services provided. Depending on the structure of the venture and the returns provided to our partners, we also earn revenues through promotes 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 segment based on geographic location. Reconciliations are presented in the following tables for: (i) each reportable business segment’s revenue from external customers to Total Revenues Earnings Before Income Taxes Total Assets Total Revenues, Earnings Before Income Taxes Total Assets Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Revenues: Real estate operations: Americas $ 432,329 $ 344,347 $ 822,959 $ 700,472 Europe 16,681 20,473 35,450 36,661 Asia 14,348 18,935 25,771 35,994 Total Real Estate Operations segment 463,358 383,755 884,180 773,127 Strategic capital: Americas 17,116 47,315 32,042 61,890 Europe 21,001 19,453 39,394 41,153 Asia 8,929 9,566 17,635 18,601 Total Strategic Capital segment 47,046 76,334 89,071 121,644 Total revenues $ 510,404 $ 460,089 $ 973,251 $ 894,771 Net operating income: Real estate operations: Americas $ 287,504 $ 243,269 $ 557,395 $ 496,730 Europe 10,143 11,410 21,081 19,634 Asia 9,985 14,050 17,469 26,167 Total Real Estate Operations segment 307,632 268,729 595,945 542,531 Strategic capital: Americas 7,234 30,092 12,125 32,148 Europe 14,426 12,125 26,291 25,809 Asia 5,271 6,280 10,179 11,687 Total Strategic Capital segment 26,931 48,497 48,595 69,644 Total segment net operating income 334,563 317,226 644,540 612,175 Reconciling items: General and administrative expenses (57,027 ) (60,375 ) (113,315 ) (123,578 ) Depreciation and amortization (190,188 ) (161,577 ) (359,996 ) (321,857 ) Earnings from unconsolidated entities, net 41,784 21,151 72,826 50,897 Interest expense (68,902 ) (80,184 ) (137,663 ) (165,707 ) Interest and other income, net 1,847 5,116 12,896 19,166 Gains on dispositions of investments in real estate, net 108,782 169,583 386,497 186,638 Foreign currency and derivative gains (losses) and related amortization, net (25,512 ) 10,130 9,054 (18,054 ) Losses on early extinguishment of debt, net (236 ) (77,558 ) (16,525 ) (77,285 ) Total reconciling items (189,452 ) (173,714 ) (146,226 ) (449,780 ) Earnings before income taxes $ 145,111 $ 143,512 $ 498,314 $ 162,395 June 30, December 31, 2015 2014 Assets: Real estate operations: Americas $ 23,002,012 $ 17,432,909 Europe 1,344,352 1,820,529 Asia 964,420 926,645 Total Real Estate Operations segment 25,310,784 20,180,083 Strategic capital: Americas 19,999 20,635 Europe 51,461 54,577 Asia 2,316 2,718 Total Strategic Capital segment 73,776 77,930 Total segment assets 25,384,560 20,258,013 Reconciling items: Investments in and advances to unconsolidated entities 4,911,505 4,824,724 Assets held for sale 514,752 43,934 Note receivable backed by real estate 197,500 - Cash and cash equivalents 351,025 350,692 Other assets 243,055 340,860 Total reconciling items 6,217,837 5,560,210 Total assets $ 31,602,397 $ 25,818,223

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Note 14. Supplemental Cash Flow Information Our significant noncash investing and financing activities for the six months ended June 30, 2015 and 2014 included the following: · See Notes 2, 7 and 9 for information related to the KTR acquisition in May 2015. · During the second quarter of 2015, we received $50.2 million of ownership interests in certain unconsolidated entities and $16.3 million of a note receivable as a portion of our proceeds from the contribution of properties to these entities. · We received a note backed by real estate in 2015, as disclosed in Note 6. · Holders of our exchangeable senior notes exchanged their notes into common stock of the Parent in 2015, as disclosed in Note 7. · We capitalized $11.5 million and $10.9 million, respectively, of equity-based compensation expense resulting from our development and leasing activities. · As partial consideration for properties we contributed to FIBRA Prologis and the conclusion of an unconsolidated co-investment venture during the second quarter of 2014, we received ownership interests of $601.6 million and FIBRA Prologis assumed $345.1 million of secured debt. We paid $185.4 million and $141.3 million of interest in cash, net of amounts capitalized, for the six months ended June 30, 2015 and 2014. We paid $12.0 million and $49.7 million for income taxes, net of refunds, for the six months ended June 30, 2015 and 2014.

General (Policies)

General (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation. The accompanying Consolidated Financial Statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and are presented in our reporting currency, the U.S. dollar. All material intercompany transactions with consolidated entities have been eliminated. The accompanying unaudited interim financial information has been prepared according to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations. Our management believes that the disclosures presented in these financial statements are adequate to make the information presented not misleading. In our opinion, all adjustments and eliminations, consisting only of normal recurring adjustments, necessary to present fairly the financial position and results of operations for both the Parent and the Operating Partnership for the reported periods have been included. The results of operations for such interim periods are not necessarily indicative of the results for the full year. The accompanying unaudited interim financial information should be read in conjunction with our Annual Report as filed with the SEC on Form 10-K for the fiscal year ended December 31, 2014, and other public information. Certain amounts included in the accompanying Consolidated Financial Statements for 2014 have been reclassified to conform to the 2015 financial statement presentation.
Recent Accounting Pronouncements	Recent Accounting Pronouncements. In April 2015, the Financial Accounting Standards Board (the “FASB”) issued an accounting standard update that requires the presentation of debt issuance costs in the balance sheet as a deduction from the carrying amount of the related debt liability instead of a deferred charge. It is effective for annual reporting periods beginning after December 15, 2015, but early adoption is permitted. At June 30, 2015, we had $52.6 million of debt issuance costs in Other Assets in the Consolidated Balance Sheets that would be subject to the reclassification. In February 2015, the FASB issued an accounting standard update that amends the consolidation requirements in existing GAAP. Under the update, all entities, including limited partnerships and similar legal entities, are now within the scope of consolidation guidance, unless a scope exception applies. The presumption that a general partner controls a limited partnership has been eliminated. In addition, fees paid to decision makers that meet certain conditions no longer cause the decision makers to consolidate variable interest entities (“VIEs”). It is effective for annual reporting periods beginning after December 15, 2015, but early adoption is permitted and allows for either a full retrospective or a modified retrospective adoption approach. We are currently evaluating the impact the adoption of this standard will have on the Consolidated Financial Statements. In May 2014, the FASB issued an accounting standard update that requires companies to use a five step model to determine when to recognize revenue from customer contracts in an effort to increase consistency and comparability throughout global capital markets and across industries. Under the model, a company will identify the contract, identify any separate performance obligations in the contract, determine the transaction price, allocate the transaction price and recognize revenue when the performance obligation is satisfied. In July 2015, the FASB deferred the effective date by one year to December 15, 2017, for annual reporting periods beginning after that date. The FASB also permits early adoption of the standard, but not before the original effective date of December 15, 2016. We are currently evaluating the impact the adoption of this standard will have on the Consolidated Financial Statements.

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2015
Business Acquisition [Line Items]
Schedule of Unaudited Pro Forma Financial Information	The following pro forma financial information presents our results as though the KTR acquisition had been completed on January 1, 2014. The pro forma information does not reflect the actual results of operations had the transaction actually been completed on January 1, 2014, and it is not indicative of future operating results. The results for the three and six months ended June 30, 2015, include approximately one month of actual results for the acquisition, which includes the acquisition expenses, and two and five months of pro forma adjustments, respectively. Actual results in 2015 include rental income and rental expenses of the properties acquired of $35.3 million and $7.9 million, respectively, representing the period from acquisition through June 30, 2015. The following amounts are in thousands, except per share amounts: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Total revenues $ 576,055 $ 536,139 $ 1,134,918 $ 1,046,870 Net earnings attributable to common stockholders $ 153,582 $ 71,550 $ 498,791 $ 75,658 Net earnings per share attributable to common stockholders – Basic $ 0.29 $ 0.14 $ 0.96 $ 0.15 Net earnings per share attributable to common stockholders – Diluted $ 0.29 $ 0.12 $ 0.95 $ 0.15
KTR Capital Partners and Affiliates [Member]
Business Acquisition [Line Items]
Allocation of Purchase Price	The allocation of the purchase price was as follows (in thousands): Investments in real estate properties $ 5,618,992 Cash, accounts receivable and other assets 185,885 Debt, including premium (735,172 ) Accounts payable, accrued expenses and other liabilities (79,036 ) Total estimated purchase price 4,990,669 Our venture partner's share of purchase price (2,253,234 ) Common limited partnership units issued in the Operating Partnership (181,170 ) Prologis share of cash purchase price $ 2,556,265
Prologis North American Industrial Fund [Member]
Business Acquisition [Line Items]
Allocation of Purchase Price	The allocation of the purchase price was as follows (in thousands): Investments in real estate properties $ 2,770,191 Cash, accounts receivable and other assets 132,261 Debt (1,195,213 ) Accounts payable, accrued expenses and other liabilities (70,226 ) Noncontrolling interests (554,493 ) Total purchase price $ 1,082,520

Real Estate (Tables)

Real Estate (Tables)	6 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Real Estate Assets	Investments in real estate properties consisted of the following (dollars and square feet in thousands): Square Feet/Acres (1) No. of Buildings (1) June 30, December 31, June 30, December 31, June 30, December 31, 2015 2014 2015 2014 2015 2014 Industrial operating properties: Improved land - - - - - - - - $ 5,719,025 $ 4,227,637 Buildings and improvements 341,544 282,282 1,892 1,607 17,966,509 14,407,815 Development portfolio, including land costs: Prestabilized 9,810 7,448 29 24 694,240 547,982 Properties under development 23,883 22,844 53 55 853,155 925,998 Land 9,276 9,017 - - - - 1,597,802 1,577,786 Other real estate investments (2) 632,318 502,927 Total investments in real estate properties 27,463,049 22,190,145 Less accumulated depreciation 3,075,438 2,790,781 Net investments in real estate properties $ 24,387,611 $ 19,399,364 (1) Items indicated by ‘- -‘ are not applicable. (2) Included in other real estate investments are: (i) certain non-industrial real estate; (ii) our corporate office buildings; (iii) land parcels that are ground leased to third parties; (iv) certain infrastructure costs related to projects we are developing on behalf of others; (v) earnest money deposits associated with potential acquisitions and (vi) costs related to future development projects, including purchase options on land.
Summary of Properties Acquired	Real estate acquisition activity for the six months ended June 30 was as follows (dollars and square feet in thousands): 2015 (1) 2014 Acquisitions of operating properties from third parties Number of industrial operating properties 10 3 Square feet 1,444 556 Real estate acquisition value $ 133,610 $ 42,203
Summary of Properties Disposed	Real estate disposition activity for the six months ended June 30 was as follows (dollars and square feet in thousands): 2015 2014 Contributions to unconsolidated co-investment ventures Number of properties 16 110 Square feet 4,566 20,416 Net proceeds $ 418,485 $ 1,203,815 Net gains on contributions $ 63,686 $ 59,160 Dispositions to third parties Number of properties 50 65 Square feet 5,366 8,808 Net proceeds (1) $ 736,120 $ 576,004 Net gains on dispositions (1) $ 322,811 $ 127,478 (1) Dispositions to third parties include land sales.

Unconsolidated Entities (Tables

Unconsolidated Entities (Tables)	6 Months Ended
	Jun. 30, 2015
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in and Advances Unconsolidated Entities	Our investments in and advances to our unconsolidated entities are summarized as follows (in thousands): June 30, December 31, 2015 2014 Unconsolidated co-investment ventures $ 4,726,624 $ 4,665,918 Other ventures 184,881 158,806 Totals $ 4,911,505 $ 4,824,724
Earnings on Investment in Co-Investment Ventures	The following is summarized information regarding the amounts we recognized in the Consolidated Statements of Operations as our share of the earnings from our investments in unconsolidated co-investment ventures (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Earnings (loss) from unconsolidated co-investment ventures: Americas $ 9,760 $ (8,526 ) $ 14,558 $ (8,855 ) Europe 27,306 26,742 48,814 52,237 Asia 3,785 2,838 7,715 6,503 Total earnings from unconsolidated co-investment ventures, net $ 40,851 $ 21,054 $ 71,087 $ 49,885 Strategic capital and other income: Americas $ 16,614 $ 47,230 $ 30,975 $ 61,555 Europe 21,001 19,453 39,394 41,153 Asia 8,856 9,410 17,405 18,207 Total strategic capital income 46,471 76,093 87,774 120,915 Development management and other income 1,546 874 3,186 1,581 Total strategic capital and other income $ 48,017 $ 76,967 $ 90,960 $ 122,496
Summary of Remaining Equity Commitments	The following table summarizes the remaining equity commitments at June 30, 2015 (in millions): Equity commitments Expiration date for remaining commitments Prologis Venture Partners Total Prologis Targeted U.S. Logistics Fund $ - $ 346 $ 346 2015 – 2016 Prologis Targeted Europe Logistics Fund (1) 37 312 349 2015 – 2017 Prologis European Properties Fund II (1) 15 78 93 2015 – 2016 Europe Logistics Venture 1 (1) 3 19 22 September 2015 Prologis European Logistics Partners Sàrl (2) 53 53 106 February 2016 Prologis China Logistics Venture 218 1,233 1,451 2015 and 2017 Total $ 326 $ 2,041 $ 2,367 (1) Equity commitments are denominated in euro and reported above in U.S. dollars based on an exchange rate of $1.12 U.S. dollars to the euro. (2) The equity commitments for this venture are expected to fund the future repayment of debt that is denominated in British pounds sterling. The commitments will be called in euros and are reported above in U.S. dollars using an exchange rate of $1.57 U.S. dollars to the British pounds sterling.
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in and Advances Unconsolidated Entities	The following tables summarize these unconsolidated co-investment ventures: June 30, December 31, June 30, (dollars and square feet in millions) 2015 2014 2014 Americas: Number of ventures 3 3 4 Number of properties owned 600 590 808 Square feet 89.0 87.1 128.9 Total assets $ 6,919 $ 7,063 $ 9,450 Third-party debt $ 2,081 $ 2,280 $ 3,334 Total liabilities $ 2,208 $ 2,421 $ 3,584 Our investment balance (1) $ 1,524 $ 1,537 $ 2,067 Our weighted average ownership (2) 30.0 % 31.0 % 27.7 % Europe: Number of ventures 4 4 4 Number of properties owned 669 636 589 Square feet 154.8 147.4 137.8 Total assets $ 11,450 $ 11,463 $ 12,236 Third-party debt $ 2,533 $ 2,644 $ 2,704 Total liabilities $ 3,461 $ 3,524 $ 3,896 Our investment balance (1) $ 2,844 $ 2,773 $ 2,969 Our weighted average ownership (2) 39.4 % 38.8 % 38.7 % Asia: Number of ventures 2 2 2 Number of properties owned 56 52 46 Square feet 27.1 26.2 23.6 Total assets $ 4,217 $ 4,135 $ 4,270 Third-party debt $ 1,701 $ 1,652 $ 1,807 Total liabilities $ 1,932 $ 1,749 $ 2,049 Our investment balance (1) (3) $ 359 $ 356 $ 364 Our weighted average ownership (2) 15.0 % 15.0 % 15.0 % Total: Number of ventures 9 9 10 Number of properties owned 1,325 1,278 1,443 Square feet 270.9 260.7 290.3 Total assets $ 22,586 $ 22,661 $ 25,956 Third-party debt $ 6,315 $ 6,576 $ 7,845 Total liabilities $ 7,601 $ 7,694 $ 9,529 Our investment balance (1) $ 4,727 $ 4,666 $ 5,400 Our weighted average ownership (2) 32.0 % 32.0 % 30.7 % Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2015 2014 2015 2014 Americas (4): Revenues $ 154,838 $ 178,692 $ 304,852 $ 346,928 Net operating income $ 117,387 $ 132,250 $ 229,470 $ 251,485 Net earnings (loss) $ 28,145 $ (9,744 ) $ 44,045 $ (7,570 ) Europe: Revenues $ 230,145 $ 252,260 $ 464,858 $ 498,956 Net operating income $ 181,094 $ 196,764 $ 361,926 $ 392,845 Net earnings $ 67,484 $ 65,624 $ 118,443 $ 128,291 Asia: Revenues $ 68,260 $ 69,731 $ 136,178 $ 138,219 Net operating income $ 52,747 $ 53,676 $ 105,981 $ 107,293 Net earnings $ 22,230 $ 16,499 $ 45,620 $ 38,494 Total: Revenues $ 453,243 $ 500,683 $ 905,888 $ 984,103 Net operating income $ 351,228 $ 382,690 $ 697,377 $ 751,623 Net earnings $ 117,859 $ 72,379 $ 208,108 $ 159,215 (1) The difference between our ownership interest of the venture’s equity and our investment balance results principally from three types of transactions: (i) deferring a portion of the gains we recognize from a contribution of a property to the venture ($378.2 million and $322.9 million at June 30, 2015, and December 31, 2014, respectively); (ii) recording additional costs associated with our investment in the venture; and (iii) advances to the venture. (2) Represents our weighted average ownership interest in all co-investment ventures based on each entity’s contribution to total assets, before depreciation, net of other liabilities. (3) At June 30, 2015, and December 31, 2014, we had receivables from Nippon Prologis REIT, Inc. (“NPR”) of $84.1 million and $85.9 million, respectively, related to customer security deposits that are made through a leasing company owned by Prologis that pertain to properties owned by NPR. There is a corresponding payable to NPR’s customers in Other Liabilities (4) As discussed in Note 3, we formed and invested in FIBRA Prologis in June 2014. In connection with the transaction, we concluded our unconsolidated co-investment venture in Mexico. As discussed in Note 2, we began consolidating NAIF in October 2014.

Assets Held for Sale (Tables)

Assets Held for Sale (Tables)	6 Months Ended
	Jun. 30, 2015
Real Estate Assets Held For Development And Sale [Abstract]
Summary of Assets Held for Sale	Assets held for sale consisted of the following (dollars and square feet in thousands): June 30, 2015 December 31, 2014 Number of operating properties 31 7 Square feet 6,805 457 Total assets held for sale (1) $ 514,752 $ 43,934 Total liabilities associated with assets held for sale – included in Other Liabilities $ 8,960 $ -

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt Summary	Our debt consisted of the following (dollars in thousands): June 30, 2015 December 31, 2014 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding Credit facilities 1.2 % $ 440,173 - $ - Senior notes 3.3 % 6,616,471 3.6 % 6,076,920 Exchangeable senior notes - - 3.3 % 456,766 Term loans 1.3 % 2,426,848 1.3 % 572,730 Other debt 6.2 % 16,035 6.2 % 16,086 Secured mortgage debt 6.7 % 749,895 6.1 % 1,050,591 Secured mortgage debt of consolidated entities 2.6 % 1,871,883 2.5 % 1,207,106 Totals 2.9 % $ 12,121,305 3.6 % $ 9,380,199 (1) The interest rates presented represent the effective interest rates (including amortization of the noncash premiums or discounts). (2) Included in the outstanding balances are borrowings denominated in non-U.S. currency, principally: euro ($3.6 billion) and Japanese yen ($1.0 billion).
Credit Facilities	Information about our Credit Facilities at June 30, 2015 was as follows (in millions): Aggregate lender commitments $ 2,667 Less: Borrowings outstanding 440 Outstanding letters of credit 35 Current availability $ 2,192
Long-Term Debt Maturities	Principal payments due on our debt, for the remainder of 2015 and for each of the years in the period ending December 31, 2024, and thereafter were as follows at June 30, 2015 (in millions): Prologis Unsecured Credit Senior Term Loans and Secured Mortgage Consolidated Entities' Total Consolidated Maturity Facilities Notes Other Debt Debt Total Debt Debt 2015 (1) $ - $ - $ 1 $ 18 $ 19 $ 5 $ 24 2016 (2) - - 1,001 160 1,161 455 1,616 2017 (3) 391 377 563 6 1,337 515 1,852 2018 49 262 1 113 425 403 828 2019 - 693 1 283 977 143 1,120 2020 - 1,037 1 6 1,044 252 1,296 2021 - 1,283 335 11 1,629 1 1,630 2022 - 783 532 7 1,322 1 1,323 2023 - 850 1 7 858 1 859 2024 - 783 1 129 913 1 914 Thereafter - 560 6 - 566 4 570 Subtotal 440 6,628 2,443 740 10,251 1,781 12,032 Unamortized premiums (discounts), net - (12 ) - 10 (2 ) 91 89 Totals $ 440 $ 6,616 $ 2,443 $ 750 $ 10,249 $ 1,872 $ 12,121 (1) We expect to repay the amounts maturing in 2015 related to our wholly owned debt with cash generated from operations, proceeds from the disposition of wholly owned real estate properties and with borrowings on our Credit Facilities. (2) Included in our debt is a Senior Term Loan that can be extended until 2017. (3 ) Included in our debt is a Global Facility that can be extended until 2018 and a term loan that can be extended until 2019.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	6 Months Ended
	Jun. 30, 2015
Noncontrolling Interest [Abstract]
Noncontrolling Interests Summary	The following is a summary of the noncontrolling interests and the consolidated entity’s total investment in real estate and debt at June 30, 2015, and December 31, 2014 (dollars and units in thousands): Our Ownership Percentage Noncontrolling Interest Total Investment In Real Estate Debt 2015 2014 2015 2014 2015 2014 2015 2014 Partnerships with exchangeable units (1) various various $ 67,549 $ 70,716 $ 711,325 $ 711,310 $ - $ - Prologis North American Industrial Fund 66.1 % 66.1 % 539,279 544,718 2,753,882 2,771,299 1,121,355 1,188,836 Prologis U.S. Logistics Venture (2) 55.0 % 55.0 % 2,759,418 427,307 6,676,499 1,006,183 734,172 - Prologis Brazil Logistics Partners Fund I (3) 50.0 % 50.0 % 59,702 68,533 - - - - Other consolidated entities various various 35,502 48,627 297,788 307,686 16,356 18,269 Prologis, L.P. noncontrolling interests 3,461,450 1,159,901 10,439,494 4,796,478 1,871,883 1,207,105 Limited partners in Prologis, L.P. (4) (5) (6) 181,823 48,189 - - - - Prologis, Inc. noncontrolling interests $ 3,643,273 $ 1,208,090 $ 10,439,494 $ 4,796,478 $ 1,871,883 $ 1,207,105 (1) At June 30, 2015, and December 31, 2014, limited partnership units were exchangeable into cash or, at our option, 1,835 and 1,887 shares, respectively, of the Parent’s common stock. All of these 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. (2) As discussed in Note 2, USLV acquired a portfolio of properties from KTR in May 2015. We received a contribution of $2.3 billion from our venture partner to fund their share of this acquisition. (3) The assets of Prologis Brazil Logistics Partners Fund I are primarily investments in unconsolidated entities of $127.5 million and $152.0 million at June 30, 2015, and December 31, 2014, respectively. For additional information on our unconsolidated investments, see Note 4. (4) As discussed in Note 2, we issued 4.5 million common limited partnership units in the Operating Partnership in connection with the KTR acquisition. (5 ) At June 30, 2015, and December 31, 2014, limited partnership units in the Operating Partnership were exchangeable into cash or, at our option, 6,262 and 1,767 shares, respectively, of the Parent’s common stock. At June 30, 2015 and December 31, 2014, the fair value of the 6,262 and 1,767 shares, respectively, would be $232.3 million and $76.0 million, respectively, based on the closing stock price of the Parent’s common stock. At June 30, 2015, and December 31, 2014, there were 1,244 and 113 LTIP Units (as defined in Note 10) outstanding, respectively, associated with our long-term compensation plan that are not exchangeable into the Parent’s common stock until they vest. All of these outstanding limited partnership units receive quarterly cash distributions equal to the quarterly distributions paid on our common stock pursuant to the terms of the partnership agreement. (6) During the six months ended June 30, 2015, we allocated $49.7 million from the limited partners in Prologis, L.P. to common stockholders of Prologis, Inc. to align the per share/unit amount.

Long-Term Compensation (Tables)

Long-Term Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
RSU and PSA [Member]
Stock Options, RSU and Performance Share Awards	The activity for RSUs for the six months ended June 30, 2015, was as follows (awards in thousands): Number of Weighted Average Number of RSUs Grant-Date Fair Value RSUs Vested Balance at January 1, 2015 2,521 $ 39.38 106 Granted 678 Vested and distributed (997 ) Forfeited (538 ) Balance at June 30, 2015 1,664 $ 42.15 108
Restricted Operating Partnership Units [Member]
Stock Options, RSU and Performance Share Awards	The activity for LTIP Units for the six months ended June 30, 2015, was as follows (units in thousands): Number of Weighted Average Number of LTIP Units Grant-Date Fair Value LTIP Units Vested Balance at January 1, 2015 113 $ 41.43 - Granted 1,131 Balance at June 30, 2015 1,244 $ 42.21 251

Earnings Per Common Share _ U31

Earnings Per Common Share / Unit (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share Unit	The computation of our basic and diluted earnings per share/unit (in thousands, except per share/unit amounts) is as follows: Three Months Ended Six Months Ended June 30, June 30, Prologis, Inc. 2015 2014 2015 2014 Net earnings attributable to common stockholders $ 140,240 $ 72,715 $ 485,446 $ 77,381 Noncontrolling interest attributable to exchangeable limited partnership units 1,623 264 3,273 302 Gains, net of expenses, associated with exchangeable debt assumed exchanged - (7,498 ) (1,614 ) - Adjusted net earnings attributable to common stockholders $ 141,863 $ 65,481 $ 487,105 $ 77,683 Weighted average common shares outstanding – Basic (1) 523,476 499,112 518,791 498,919 Incremental weighted average effect on exchange of limited partnership units (2) 5,431 1,964 4,617 1,964 Incremental weighted average effect of equity awards and warrant 1,733 3,664 2,037 3,677 Incremental weighted average effect on exchange of exchangeable debt (3) - 11,879 4,382 - Weighted average common shares outstanding – Diluted (4) 530,640 516,619 529,827 504,560 Net earnings per share attributable to common stockholders: Basic $ 0.27 $ 0.15 $ 0.94 $ 0.16 Diluted $ 0.27 $ 0.13 $ 0.92 $ 0.15 Three Months Ended Six Months Ended June 30, June 30, Prologis, L.P. 2015 2014 2015 2014 Net earnings attributable to common unitholders $ 141,538 $ 72,973 $ 488,026 $ 77,655 Noncontrolling interest attributable to exchangeable limited partnership units 325 6 693 28 Gains, net of expenses, associated with exchangeable debt assumed exchanged - (7,498 ) (1,614 ) - Adjusted net earnings attributable to common unitholders $ 141,863 $ 65,481 $ 487,105 $ 77,683 Weighted average common partnership units outstanding – Basic (1) 527,071 500,879 521,548 500,686 Incremental weighted average effect on exchange of limited partnership units 1,836 197 1,860 197 Incremental weighted average effect of equity awards and warrant of Prologis, Inc. 1,733 3,664 2,037 3,677 Incremental weighted average effect on exchange of exchangeable debt (3) - 11,879 4,382 - Weighted average common partnership units outstanding – Diluted (4) 530,640 516,619 529,827 504,560 Net earnings per unit attributable to common unitholders: Basic $ 0.27 $ 0.15 $ 0.94 $ 0.16 Diluted $ 0.27 $ 0.13 $ 0.92 $ 0.15 (1) The increase in shares/units between the periods is primarily due to a warrant Norges Bank Investment Management exercised in December 2014, the ATM program activity in late 2014 and early 2015 and the conversion of exchangeable debt to shares/units in March 2015. (2) Earnings allocated to the exchangeable Operating Partnership units not held by the Parent has been included in the numerator and exchangeable Operating Partnership units have been included in the denominator for the purpose of computing diluted earnings per share for all periods as the per share/unit amount is the same. The incremental weighted average exchangeable Operating Partnership units were 3,595 and 1,767 for the three months ended June 30, 2015 and 2014, respectively, and 2,757 and 1,767 for the six months ended June 30, 2015 and 2014, respectively. (3) In March 2015, the exchangeable debt was settled primarily through the issuance of common stock. The adjustment in 2015 assumes the exchange occurred on January 1, 2015. (4) Our total potentially dilutive shares/units outstanding consisted of the following: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Total potentially dilutive stock awards and warrants 7,456 15,042 7,408 15,276 Total weighted average potentially dilutive shares/units from exchangeable debt - 11,879 4,382 11,879 Total weighted average potentially dilutive limited partnership units 1,836 1,948 1,860 1,949

Financial Instruments and Fai32

Financial Instruments and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Activity	The following tables summarize the activity in our derivative instruments for the six months ended June 30 (in millions, except for weighted average forward rates and number of active contracts): 2015 Foreign Currency Contracts Local Currency Net Investment Forward Contracts Forward and Option Contracts (1) Interest Rate Swaps EUR GBP JPY EUR GBP (2) JPY CAD JPY Notional amounts at January 1 € 300 £ 238 ¥ 24,136 € 284 £ - ¥ - $ - ¥ 40,916 New contracts (3) - 118 43,373 198 126 12,740 49 65,000 Matured or expired contracts (300 ) (118 ) (67,509 ) (254 ) (53 ) (2,800 ) (7 ) - Notional amounts at June 30, € - £ 238 ¥ - € 228 £ 73 ¥ 9,940 $ 42 ¥ 105,916 Foreign Currency Contracts U.S. Dollar Net Investment Forward Contracts Forward and Option Contracts (1) Interest Rate Swaps Notional amounts at January 1 $ 400 $ 400 $ 250 $ 354 $ - $ - $ - $ 398 New contracts (3) - 186 353 224 188 109 40 527 Matured or expired contracts (400 ) (200 ) (603 ) (311 ) (79 ) (24 ) (6 ) - Notional amounts at June 30, $ - $ 386 $ - $ 267 $ 109 $ 85 $ 34 $ 925 Weighted average forward rate at June 30, - 1.62 - 1.17 1.31 117.07 1.23 115.47 Active contracts at June 30, - 3 - 15 12 12 6 4 2014 Foreign Currency Contracts Local Currency Net Investment Forward Contracts Option Contracts (1) Interest Rate Swaps EUR JPY EUR USD Notional amounts at January 1 € 600 ¥ 24,136 € - $ 71 New contracts 1,446 59,083 33 - Matured or expired contracts (1,199 ) (59,083 ) (33 ) - Notional amounts at June 30, € 847 ¥ 24,136 € - 71 Foreign Currency Contracts U.S. Dollar Net Investment Forward Contracts Option Contracts (1) Interest Rate Swaps Notional amounts at January 1 $ 800 $ 250 $ - $ 71 New contracts 1,979 578 46 - Matured or expired contracts (1,642 ) (578 ) (46 ) - Notional amounts at June 30, $ 1,137 $ 250 $ - $ 71 (1) During the six months ended June 30, 2015 and 2014, we exercised 13 and 1 option contracts, respectively. We realized gains of $4.0 million and $6.2 million for the three and six months ended June 30, 2015, respectively, and $0.1 million for the three and six months ended June 30, 2014, in Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net (2) Included in our British pounds sterling denominated option contracts are six forward contracts to sell British pounds sterling and buy euros. These forwards have a notional amount of £35.0 million (€46.8 million) and were reported in this table using a weighted average exchange rate of $1.11 U.S. dollars to the euro. (3) In the second quarter of 2015, we entered into two contracts to effectively fix the interest rate on the 2015 Yen Term Loan. See Note 7 for more information on the 2015 Yen Term Loan.
Schedule of Fair Value of Derivative Instruments	The following table presents the fair value of our derivative instruments (in thousands): June 30, 2015 December 31, 2014 Asset Liability Asset Liability Net investment hedges - euro denominated (1) $ - $ - $ 22,891 $ - Net investment hedges - yen denominated (1) - - 46,934 - Net investment hedges - pound sterling denominated 12,543 203 29,097 - Foreign currency options - euro denominated (2) 14,826 463 7,742 - Foreign currency options - yen denominated (2) 2,313 - - - Foreign currency options - pound sterling denominated (2) - 5,136 - - Foreign currency options - Canadian dollar denominated (2) 414 - - - Interest rate swap hedges 97 2,255 - 1,395 Total fair value of derivatives $ 30,193 $ 8,057 $ 106,664 $ 1,395 (1) During the second quarter of 2015, we terminated our euro and yen denominated net investment hedges. See below for additional information about the gains recognized associated with these net investment hedges. (2) As discussed above, the foreign currency options are not designated as hedges. We recognized losses of $10.6 million and gains of $9.5 million in Foreign Currency and Derivative Gains and (Losses) and Related Amortization, Net
Summary of Gains (Losses) From Change in Fair Value of Derivative Instruments Included in Other Comprehensive Income (Loss)	The following table presents the gains and losses associated with the change in fair value for the effective portion of our derivative and nonderivative hedging instruments included in Other Comprehensive Income (Loss) Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Derivative net investment hedges (1) $ (28,984 ) $ (6,195 ) $ 34,194 $ (23,109 ) Interest rate swap hedges (2) (2,341 ) (187 ) (759 ) (190 ) Our share of derivatives from unconsolidated co-investment ventures 1,879 (1,977 ) 4,106 (3,081 ) Total gain (loss) on derivative instruments (29,446 ) (8,359 ) 37,541 (26,380 ) Nonderivative net investment hedges (3) (111,537 ) 15,850 223,403 10,320 Total gain (loss) on derivative and nonderivative hedging instruments $ (140,983 ) $ 7,491 $ 260,944 $ (16,060 ) (1) This includes gains of $120.1 million and $121.5 million for the three and six months ended June 30, 2015, respectively, upon the settlement of net investment hedges. For the three and six months ended June 30, 2014, we recorded losses of $4.5 million and $11.4 million, respectively. (2) The amounts reclassified to interest expense for the three and six months ended June 30, 2015 and 2014, respectively, were not considered significant. For the next 12 months from June 30, 2015, we estimate an additional expense for $2.4 million will be reclassified to Interest Expense (3) At June 30, 2015, and December 31, 2014, we had €3.2 billion ($3.6 billion) and €2.5 billion ($3.0 billion) of debt, net of accrued interest, respectively, designated as non-derivative financial instrument hedges of our net investment in international subsidiaries. We had €97.6 million ($118.5 million) of debt that was not designated as a non-derivative financial instrument hedge at December 31, 2014. We recognized unrealized losses of $5.4 million and unrealized gains of $10.0 million in Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net
Carrying Amounts and Estimated Fair Values of Debt	The following table reflects the carrying amounts and estimated fair values of our debt (in thousands): June 30, 2015 December 31, 2014 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 440,173 $ 440,377 $ - $ - Senior notes 6,616,471 6,927,802 6,076,920 6,593,657 Exchangeable senior notes - - 456,766 511,931 Term loans and other debt 2,442,883 2,445,631 588,816 591,810 Secured mortgage debt 749,895 849,260 1,050,591 1,173,488 Secured mortgage debt of consolidated entities 1,871,883 1,875,709 1,207,106 1,209,271 Total debt $ 12,121,305 $ 12,538,779 $ 9,380,199 $ 10,080,157

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Reporting, Reconciliation of Revenues, Operating Income and Assets	The following reconciliations are presented in thousands: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Revenues: Real estate operations: Americas $ 432,329 $ 344,347 $ 822,959 $ 700,472 Europe 16,681 20,473 35,450 36,661 Asia 14,348 18,935 25,771 35,994 Total Real Estate Operations segment 463,358 383,755 884,180 773,127 Strategic capital: Americas 17,116 47,315 32,042 61,890 Europe 21,001 19,453 39,394 41,153 Asia 8,929 9,566 17,635 18,601 Total Strategic Capital segment 47,046 76,334 89,071 121,644 Total revenues $ 510,404 $ 460,089 $ 973,251 $ 894,771 Net operating income: Real estate operations: Americas $ 287,504 $ 243,269 $ 557,395 $ 496,730 Europe 10,143 11,410 21,081 19,634 Asia 9,985 14,050 17,469 26,167 Total Real Estate Operations segment 307,632 268,729 595,945 542,531 Strategic capital: Americas 7,234 30,092 12,125 32,148 Europe 14,426 12,125 26,291 25,809 Asia 5,271 6,280 10,179 11,687 Total Strategic Capital segment 26,931 48,497 48,595 69,644 Total segment net operating income 334,563 317,226 644,540 612,175 Reconciling items: General and administrative expenses (57,027 ) (60,375 ) (113,315 ) (123,578 ) Depreciation and amortization (190,188 ) (161,577 ) (359,996 ) (321,857 ) Earnings from unconsolidated entities, net 41,784 21,151 72,826 50,897 Interest expense (68,902 ) (80,184 ) (137,663 ) (165,707 ) Interest and other income, net 1,847 5,116 12,896 19,166 Gains on dispositions of investments in real estate, net 108,782 169,583 386,497 186,638 Foreign currency and derivative gains (losses) and related amortization, net (25,512 ) 10,130 9,054 (18,054 ) Losses on early extinguishment of debt, net (236 ) (77,558 ) (16,525 ) (77,285 ) Total reconciling items (189,452 ) (173,714 ) (146,226 ) (449,780 ) Earnings before income taxes $ 145,111 $ 143,512 $ 498,314 $ 162,395 June 30, December 31, 2015 2014 Assets: Real estate operations: Americas $ 23,002,012 $ 17,432,909 Europe 1,344,352 1,820,529 Asia 964,420 926,645 Total Real Estate Operations segment 25,310,784 20,180,083 Strategic capital: Americas 19,999 20,635 Europe 51,461 54,577 Asia 2,316 2,718 Total Strategic Capital segment 73,776 77,930 Total segment assets 25,384,560 20,258,013 Reconciling items: Investments in and advances to unconsolidated entities 4,911,505 4,824,724 Assets held for sale 514,752 43,934 Note receivable backed by real estate 197,500 - Cash and cash equivalents 351,025 350,692 Other assets 243,055 340,860 Total reconciling items 6,217,837 5,560,210 Total assets $ 31,602,397 $ 25,818,223

General - Additional Informatio

General - Additional Information (Detail) - Jun. 30, 2015 $ in Millions	USD ($)Segment
General [Line Items]
Number of reportable segments | Segment	2
Percentage of common limited partnership interest	1.23%
Other Assets [Member]
General [Line Items]
Debt issuance costs	$ 52.6
Preferred Units [Member]
General [Line Items]
Percentage of ownership in operating partnership	100.00%
General Partner [Member]
General [Line Items]
Percentage of ownership in operating partnership	98.77%

Business Combinations - Additio

Business Combinations - Additional Information (Detail) $ in Thousands, shares in Millions, ft² in Millions		May. 29, 2015USD ($)ft²Propertyshares	Oct. 20, 2014USD ($)	Jun. 30, 2015USD ($)ft²Propertyshares	Dec. 31, 2014USD ($)ft²Property	Jun. 30, 2015USD ($)ft²Property	Jun. 30, 2014USD ($)ft²Property	Mar. 31, 2014
Business Acquisition [Line Items]
Number of buildings | Property				1,325	1,278	1,325	1,443
Square Feet / Acres | ft²				270.9	260.7	270.9	290.3
Acquisition costs incurred		$ 24,700
Rental income of properties acquired						$ 35,300
Rental expenses of properties acquired						7,900
Equity method investment	[1]			$ 4,727,000	$ 4,666,000	$ 4,727,000	$ 5,400,000
KTR Capital Partners and Affiliates [Member]
Business Acquisition [Line Items]
Contribution received from venture partner				$ 2,300,000
Business acquisition, common limited partnership units issued | shares		4.5		4.5
Total purchase price		$ 4,990,669
Prologis North American Industrial Fund [Member]
Business Acquisition [Line Items]
Parent Company's Ownership Percentage				66.10%	66.10%	66.10%		23.10%
Equity method investment					$ 679,000
Total purchase price			$ 46,800		$ 1,100,000
U S Logistics Venture
Business Acquisition [Line Items]
Parent Company's Ownership Percentage		55.00%
Contribution received from venture partner				$ 2,300,000
U S Logistics Venture | KTR Capital Partners and Affiliates [Member]
Business Acquisition [Line Items]
Number of buildings | Property		315
Square Feet / Acres | ft²		59
Area of properties under development | ft²		3.6
Area of properties to support potential build out | ft²		6.8
U S Logistics Venture | KTR Capital Partners and Affiliates [Member] | Common Limited Partnership Units
Business Acquisition [Line Items]
Business acquisition, common limited partnership units issued | shares		4.5
[1]	The difference between our ownership interest of the venture’s equity and our investment balance results principally from three types of transactions: (i) deferring a portion of the gains we recognize from a contribution of a property to the venture ($378.2 million and $322.9 million at June 30, 2015, and December 31, 2014, respectively); (ii) recording additional costs associated with our investment in the venture; and (iii) advances to the venture.

Business Combinations - Allocat

Business Combinations - Allocation of Purchase Price (Detail) - USD ($) $ in Thousands	May. 29, 2015	Oct. 20, 2014	Dec. 31, 2014
KTR Capital Partners and Affiliates [Member]
Business Acquisition [Line Items]
Investments in real estate properties	$ 5,618,992
Cash, accounts receivable and other assets	185,885
Debt, including premium	(735,172)
Accounts payable, accrued expenses and other liabilities	(79,036)
Total estimated purchase price	4,990,669
Noncontrolling interests	(2,253,234)
Common limited partnership units issued in the Operating Partnership	(181,170)
Total purchase price	$ 2,556,265
Prologis North American Industrial Fund [Member]
Business Acquisition [Line Items]
Investments in real estate properties			$ 2,770,191
Cash, accounts receivable and other assets			132,261
Debt, including premium			(1,195,213)
Accounts payable, accrued expenses and other liabilities			(70,226)
Total estimated purchase price		$ 46,800	1,100,000
Noncontrolling interests			(554,493)
Total purchase price			$ 1,082,520

Business Combinations - Schedul

Business Combinations - Schedule of Unaudited Pro Forma Financial Information (Detail) - KTR Capital Partners and Affiliates [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Business Acquisition [Line Items]
Total revenues	$ 576,055	$ 536,139	$ 1,134,918	$ 1,046,870
Net earnings attributable to common stockholders	$ 153,582	$ 71,550	$ 498,791	$ 75,658
Net earnings per share attributable to common stockholders – Basic	$ 0.29	$ 0.14	$ 0.96	$ 0.15
Net earnings per share attributable to common stockholders – Diluted	$ 0.29	$ 0.12	$ 0.95	$ 0.15

Real Estate - Real Estate Asset

Real Estate - Real Estate Assets (Detail) ft² in Thousands, $ in Thousands	Jun. 30, 2015USD ($)ft²PropertyBuildings	Dec. 31, 2014USD ($)ft²PropertyBuildings	Jun. 30, 2014ft²Property
Real Estate Properties [Line Items]
Square Feet / Acres | ft²	270,900	260,700	290,300
Number of buildings | Property	1,325	1,278	1,443
Industrial operating properties:
Total investments in real estate properties	$ 27,463,049	$ 22,190,145
Less accumulated depreciation	3,075,438	2,790,781
Net investments in real estate properties	24,387,611	19,399,364
Improved Land [Member]
Industrial operating properties:
Total investments in real estate properties	$ 5,719,025	$ 4,227,637
Building and Improvements [Member]
Real Estate Properties [Line Items]
Square Feet / Acres | ft²	341,544	282,282
Number of buildings | Buildings	1,892	1,607
Industrial operating properties:
Total investments in real estate properties	$ 17,966,509	$ 14,407,815
Development Portfolio, Including Cost of Land: Pre-stabilized [Member]
Real Estate Properties [Line Items]
Square Feet / Acres | ft²	9,810	7,448
Number of buildings | Buildings	29	24
Industrial operating properties:
Total investments in real estate properties	$ 694,240	$ 547,982
Properties Under Development [Member]
Real Estate Properties [Line Items]
Square Feet / Acres | ft²	23,883	22,844
Number of buildings | Buildings	53	55
Industrial operating properties:
Total investments in real estate properties	$ 853,155	$ 925,998
Land [Member]
Real Estate Properties [Line Items]
Square Feet / Acres | ft²	9,276	9,017
Industrial operating properties:
Total investments in real estate properties	$ 1,597,802	$ 1,577,786
Other Real Estate Investments [Member]
Industrial operating properties:
Total investments in real estate properties	$ 632,318	$ 502,927

Real Estate - Summary of Acquis

Real Estate - Summary of Acquisition (Detail) ft² in Thousands, $ in Thousands	Jun. 30, 2015USD ($)ft²Property	Dec. 31, 2014ft²Property	Jun. 30, 2014USD ($)ft²Property
Business Acquisition [Line Items]
Number of industrial operating properties	1,325	1,278	1,443
Square feet | ft²	270,900	260,700	290,300
Third Parties [Member]
Business Acquisition [Line Items]
Number of industrial operating properties	10		3
Square feet | ft²	1,444		556
Real estate acquisition value | $	$ 133,610		$ 42,203

Real Estate - Summary of Dispos

Real Estate - Summary of Dispositions (Detail) ft² in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)ft²Property	Jun. 30, 2014USD ($)ft²Property	Dec. 31, 2014ft²Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties | Property	1,325	1,443	1,278
Square feet | ft²	270,900	290,300	260,700
Continuing Operations [Member] | Contributions to unconsolidated co-investment ventures [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties | Property	16	110
Square feet | ft²	4,566	20,416
Net proceeds	$ 418,485	$ 1,203,815
Net gains on contributions	$ 63,686	$ 59,160
Continuing Operations [Member] | Dispositions to Third Parties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties | Property	50	65
Square feet | ft²	5,366	8,808
Net proceeds	$ 736,120	$ 576,004
Net gains on contributions	$ 322,811	$ 127,478

Real Estate - Additional Inform

Real Estate - Additional Information (Detail) ft² in Millions, $ in Millions	1 Months Ended
	Jun. 30, 2014USD ($)ft²Property	Jun. 30, 2015ft²	Dec. 31, 2014ft²
Real Estate Properties [Line Items]
Square feet	290.3	270.9	260.7
Gain recognized on disposition of investments in real estate | $	$ 52.5
Equity Method Investment Income Tax Expense | $	32.4
Deferred tax benefit recognized on disposition of investments in real estate | $	55.5
Earnings attributable to non controlling interest | $	$ 61
FIBRA Prologis [Member]
Real Estate Properties [Line Items]
Number of properties purchased | Property	177
Square feet	29.7
Wholly Owned Portfolio [Member]
Real Estate Properties [Line Items]
Square feet	12.6
Mexico Fondo Logistico [Member]
Real Estate Properties [Line Items]
Square feet	7.6
Prologis Mexico Industrial Fund [Member]
Real Estate Properties [Line Items]
Square feet	9.5

Unconsolidated Entities - Summa

Unconsolidated Entities - Summary of Investments (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule Of Equity Method Investments [Line Items]
Other ventures	$ 4,911,505	$ 4,824,724
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Other ventures	4,726,624	4,665,918
Other Joint Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Other ventures	$ 184,881	$ 158,806

Unconsolidated Entities - Sum43

Unconsolidated Entities - Summary of Unconsolidated Co-investment Ventures (Detail) $ in Thousands, ft² in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2015USD ($)ft²PropertyVenture	Jun. 30, 2014USD ($)ft²PropertyVenture	Jun. 30, 2015USD ($)ft²PropertyVenture	Jun. 30, 2014USD ($)ft²PropertyVenture	Dec. 31, 2014USD ($)ft²PropertyVenture
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		9	10	9	10	9
Number of properties owned | Property		1,325	1,443	1,325	1,443	1,278
Square feet | ft²		270.9	290.3	270.9	290.3	260.7
Total assets		$ 22,586,000	$ 25,956,000	$ 22,586,000	$ 25,956,000	$ 22,661,000
Third-party debt		6,315,000	7,845,000	6,315,000	7,845,000	6,576,000
Total liabilities		7,601,000	9,529,000	7,601,000	9,529,000	7,694,000
Our investment balance	[1]	$ 4,727,000	$ 5,400,000	$ 4,727,000	$ 5,400,000	$ 4,666,000
Our weighted average ownership	[2]	32.00%	30.70%	32.00%	30.70%	32.00%
Revenues		$ 453,243	$ 500,683	$ 905,888	$ 984,103
Net operating income		351,228	382,690	697,377	751,623
Net earnings (loss)		$ 117,859	$ 72,379	$ 208,108	$ 159,215
Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		3	4	3	4	3
Number of properties owned | Property		600	808	600	808	590
Square feet | ft²		89	128.9	89	128.9	87.1
Total assets		$ 6,919,000	$ 9,450,000	$ 6,919,000	$ 9,450,000	$ 7,063,000
Third-party debt		2,081,000	3,334,000	2,081,000	3,334,000	2,280,000
Total liabilities		2,208,000	3,584,000	2,208,000	3,584,000	2,421,000
Our investment balance	[1]	$ 1,524,000	$ 2,067,000	$ 1,524,000	$ 2,067,000	$ 1,537,000
Our weighted average ownership	[2]	30.00%	27.70%	30.00%	27.70%	31.00%
Revenues	[3]	$ 154,838	$ 178,692	$ 304,852	$ 346,928
Net operating income	[3]	117,387	132,250	229,470	251,485
Net earnings (loss)	[3]	$ 28,145	$ (9,744)	$ 44,045	$ (7,570)
Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		4	4	4	4	4
Number of properties owned | Property		669	589	669	589	636
Square feet | ft²		154.8	137.8	154.8	137.8	147.4
Total assets		$ 11,450,000	$ 12,236,000	$ 11,450,000	$ 12,236,000	$ 11,463,000
Third-party debt		2,533,000	2,704,000	2,533,000	2,704,000	2,644,000
Total liabilities		3,461,000	3,896,000	3,461,000	3,896,000	3,524,000
Our investment balance	[1]	$ 2,844,000	$ 2,969,000	$ 2,844,000	$ 2,969,000	$ 2,773,000
Our weighted average ownership	[2]	39.40%	38.70%	39.40%	38.70%	38.80%
Revenues		$ 230,145	$ 252,260	$ 464,858	$ 498,956
Net operating income		181,094	196,764	361,926	392,845
Net earnings (loss)		$ 67,484	$ 65,624	$ 118,443	$ 128,291
Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		2	2	2	2	2
Number of properties owned | Property		56	46	56	46	52
Square feet | ft²		27.1	23.6	27.1	23.6	26.2
Total assets		$ 4,217,000	$ 4,270,000	$ 4,217,000	$ 4,270,000	$ 4,135,000
Third-party debt		1,701,000	1,807,000	1,701,000	1,807,000	1,652,000
Total liabilities		1,932,000	2,049,000	1,932,000	2,049,000	1,749,000
Our investment balance	[1],[4]	$ 359,000	$ 364,000	$ 359,000	$ 364,000	$ 356,000
Our weighted average ownership	[2]	15.00%	15.00%	15.00%	15.00%	15.00%
Revenues		$ 68,260	$ 69,731	$ 136,178	$ 138,219
Net operating income		52,747	53,676	105,981	107,293
Net earnings (loss)		$ 22,230	$ 16,499	$ 45,620	$ 38,494
[1]	The difference between our ownership interest of the venture’s equity and our investment balance results principally from three types of transactions: (i) deferring a portion of the gains we recognize from a contribution of a property to the venture ($378.2 million and $322.9 million at June 30, 2015, and December 31, 2014, respectively); (ii) recording additional costs associated with our investment in the venture; and (iii) advances to the venture.
[2]	Represents our weighted average ownership interest in all co-investment ventures based on each entity’s contribution to total assets, before depreciation, net of other liabilities.
[3]	As discussed in Note 3, we formed and invested in FIBRA Prologis in June 2014. In connection with the transaction, we concluded our unconsolidated co-investment venture in Mexico. As discussed in Note 2, we began consolidating NAIF in October 2014.
[4]	At June 30, 2015, and December 31, 2014, we had receivables from Nippon Prologis REIT, Inc. (“NPR”) of $84.1 million and $85.9 million, respectively, related to customer security deposits that are made through a leasing company owned by Prologis that pertain to properties owned by NPR. There is a corresponding payable to NPR’s customers in Other Liabilities in the Consolidated Balance Sheets.

Unconsolidated Entities - Sum44

Unconsolidated Entities - Summary of Unconsolidated Co-investment Ventures (Parenthetical) (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Schedule Of Equity Method Investments [Line Items]
Deferred gain recognize	$ 378.2	$ 322.9
Nippon Prologis REIT Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Intercompany notes receivable	$ 84.1	$ 85.9

Unconsolidated Entities - Earni

Unconsolidated Entities - Earnings on Investment in Co-Investment Ventures (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	$ 41,784	$ 21,151	$ 72,826	$ 50,897
Strategic capital revenue	47,046	76,334	89,071	121,644
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	40,851	21,054	71,087	49,885
Total strategic capital revenue	46,471	76,093	87,774	120,915
Strategic capital revenue	48,017	76,967	90,960	122,496
Unconsolidated Co-Investment Ventures [Member] | Development Management and Other Income [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenue	1,546	874	3,186	1,581
Unconsolidated Co-Investment Ventures [Member] | Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	9,760	(8,526)	14,558	(8,855)
Total strategic capital revenue	16,614	47,230	30,975	61,555
Unconsolidated Co-Investment Ventures [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	27,306	26,742	48,814	52,237
Total strategic capital revenue	21,001	19,453	39,394	41,153
Unconsolidated Co-Investment Ventures [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	3,785	2,838	7,715	6,503
Total strategic capital revenue	$ 8,856	$ 9,410	$ 17,405	$ 18,207

Unconsolidated Entities - Sum46

Unconsolidated Entities - Summary of Remaining Equity Commitments (Detail) - Jun. 30, 2015 - USD ($) $ in Millions		Total
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments		$ 2,367
Prologis [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments		326
Venture Partners [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments		2,041
Prologis Targeted U.S. Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments		$ 346
Expiration date for remaining commitments range start		2,015
Expiration date for remaining commitments range end		2,016
Prologis Targeted U.S. Logistics Fund [Member] | Venture Partners [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments		$ 346
Prologis Targeted Europe Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	[1]	$ 349
Expiration date for remaining commitments range start	[1]	2,015
Expiration date for remaining commitments range end	[1]	2,017
Prologis Targeted Europe Logistics Fund [Member] | Prologis [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	[1]	$ 37
Prologis Targeted Europe Logistics Fund [Member] | Venture Partners [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	[1]	312
Prologis European Properties Fund II [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	[1]	$ 93
Expiration date for remaining commitments range start	[1]	2,015
Expiration date for remaining commitments range end	[1]	2,016
Prologis European Properties Fund II [Member] | Prologis [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	[1]	$ 15
Prologis European Properties Fund II [Member] | Venture Partners [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	[1]	78
Europe Logistics Venture 1 [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	[1]	$ 22
Europe Logistics Venture 1	[1]	2015-09
Europe Logistics Venture 1 [Member] | Prologis [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	[1]	$ 3
Europe Logistics Venture 1 [Member] | Venture Partners [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	[1]	19
Prologis European Logistics Partners Sarl [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	[2]	$ 106
Europe Logistics Venture 1	[2]	2016-02
Prologis European Logistics Partners Sarl [Member] | Prologis [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	[2]	$ 53
Prologis European Logistics Partners Sarl [Member] | Venture Partners [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	[2]	53
Prologis China Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments		$ 1,451
Expiration date for remaining commitments earliest		2,015
Expiration date for remaining commitments latest		2,017
Prologis China Logistics Venture [Member] | Prologis [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments		$ 218
Prologis China Logistics Venture [Member] | Venture Partners [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments		$ 1,233
[1]	Equity commitments are denominated in euro and reported above in U.S. dollars based on an exchange rate of $1.12 U.S. dollars to the euro
[2]	The equity commitments for this venture are expected to fund the future repayment of debt that is denominated in British pounds sterling. The commitments will be called in euros and are reported above in U.S. dollars using an exchange rate of $1.57 U.S. dollars to the British pounds sterling.

Unconsolidated Entities - Sum47

Unconsolidated Entities - Summary of Remaining Equity Commitments (Parenthetical) (Detail) - Jun. 30, 2015	$ / €
Prologis Targeted Europe Logistics Fund [Member] | U.S. Dollars to Euro [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate	1.12
Prologis European Properties Fund II [Member] | U.S. Dollars to Euro [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate	1.12
Europe Logistics Venture 1 [Member] | U.S. Dollars to Euro [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate	1.12
Prologis European Logistics Partners Sarl [Member] | British Pound Sterling to U.S. Dollar [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate	1.57

Assets Held for Sale - Summary

Assets Held for Sale - Summary of Assets Held for Sale (Detail) ft² in Thousands, $ in Thousands	Jun. 30, 2015USD ($)ft²PropertyParcels	Dec. 31, 2014USD ($)ft²Property	Jun. 30, 2014ft²Property
Assets Held For Sale [Line Items]
Number of properties	1,325	1,278	1,443
Square feet | ft²	270,900	260,700	290,300
Total assets held for sale | $	$ 514,752	$ 43,934
Total liabilities associated with assets held for sale – included in Other Liabilities in the Consolidated Balance Sheets | $	$ 8,960
Land held for sale | Parcels	2
Disposal Group Heldforsale Not Discontinued Operations
Assets Held For Sale [Line Items]
Number of properties	31	7
Square feet | ft²	6,805	457

Note Receivable Backed by Rea49

Note Receivable Backed by Real Estate - Additional information (Detail) - USD ($) $ in Thousands	Feb. 28, 2015	Jun. 30, 2015
Loans And Leases Receivable [Line Items]
Note received backed by real estate		$ 197,500
Dispositions to Third Parties [Member]
Loans And Leases Receivable [Line Items]
Note received backed by real estate	$ 197,500
Interest rate on Note receivable	2.00%

Debt - Debt Summary (Detail)

Debt - Debt Summary (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Schedule of Capitalization, Long-term Debt [Line Items]
Weighted Average Interest Rate	2.90%	3.60%
Debt	$ 12,121,305	$ 9,380,199
Credit Facilities [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Weighted Average Interest Rate	1.20%
Debt	$ 440,173
Senior Notes [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Weighted Average Interest Rate	3.30%	3.60%
Debt	$ 6,616,471	$ 6,076,920
Exchangeable Senior Notes [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Weighted Average Interest Rate		3.30%
Debt		$ 456,766
Term Loan [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Weighted Average Interest Rate	1.30%	1.30%
Debt	$ 2,426,848	$ 572,730
Other Debt [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Weighted Average Interest Rate	6.20%	6.20%
Debt	$ 16,035	$ 16,086
Secured Mortgage Debt [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Weighted Average Interest Rate	6.70%	6.10%
Debt	$ 749,895	$ 1,050,591
Secured Mortgage Debt of Consolidated Entities [Member]
Schedule of Capitalization, Long-term Debt [Line Items]
Weighted Average Interest Rate	2.60%	2.50%
Debt	$ 1,871,883	$ 1,207,106

Debt - Debt Summary (Parentheti

Debt - Debt Summary (Parenthetical) (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Capitalization, Long-term Debt [Line Items]
Debt	$ 12,121,305	$ 9,380,199
E U R
Schedule of Capitalization, Long-term Debt [Line Items]
Debt	3,600,000
J P Y
Schedule of Capitalization, Long-term Debt [Line Items]
Debt	$ 1,000,000

Debt - Additional Information (

Debt - Additional Information (Detail) $ in Thousands, € in Millions, ¥ in Billions	1 Months Ended		3 Months Ended			6 Months Ended
	May. 31, 2015USD ($)	Mar. 31, 2015USD ($)shares	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)shares	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015JPY (¥)	Jun. 30, 2015EUR (€)	May. 31, 2015EUR (€)	May. 29, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2014EUR (€)	Jun. 30, 2014EUR (€)	May. 31, 2014JPY (¥)
Debt [Line Items]
Credit facility maximum borrowing capacity			$ 2,667,000			$ 2,667,000
Debt issued			12,032,000			12,032,000
Notes exchanged				$ 459,800
Number of share issued on debt conversion | shares		11,900,000		11,900,000
Repayments of convertible debt				$ 200
Borrowings outstanding			440,000			440,000
Losses on early extinguishment of debt, net			236		$ 77,558	16,525	$ 77,285
KTR Capital Partners and Affiliates [Member]
Debt [Line Items]
Secured mortgage debt											$ 735,172
Debt Instrument, Unamortized Premiums			30,500			30,500
1.375% Senior Notes Maturing in 2021 [Member]
Debt [Line Items]
Debt issued	$ 785,500									€ 700
Interest rate	1.375%									1.375%
Redemption price of notes as a percentage of par value	99.112%
Senior note effective interest rate	1.531%									1.531%
Exchangeable Senior Notes [Member]
Debt [Line Items]
Fair value of derivative instruments		$ 43,000		$ 43,000								$ 51,300
Unrealized gain (loss) on derivative instrument					$ 16,300	$ 8,300	$ (6,500)
Senior Term Loan [Member]
Debt [Line Items]
Credit facility maximum borrowing capacity	$ 1,000,000
Line of credit facility, interest rate description						LIBOR plus 100 basis points
Debt instrument basis spread						1.00%
Cross acceleration to other recourse indebtedness	$ 100,000
2015 Yen Senior Term Loan [Member]
Debt [Line Items]
Credit facility maximum borrowing capacity			530,800			$ 530,800		¥ 65
Credit facility current borrowing capacity			334,100			$ 334,100									¥ 40.9
Line of credit facility, interest rate description						LIBOR plus 110 basis points
Debt instrument basis spread						1.10%
Euro Term Loan [Member]
Debt [Line Items]
Credit facility maximum borrowing capacity												$ 230,700	€ 190	€ 500
Additional outstanding borrowings			272,600			$ 272,600			€ 240
Borrowings outstanding			561,900			561,900
Global Facility [Member]
Debt [Line Items]
Credit facility maximum borrowing capacity			2,300,000			2,300,000
Revolver [Member]
Debt [Line Items]
Credit facility maximum borrowing capacity | ¥								56.5
Credit facility current borrowing capacity			367,500			367,500		¥ 45
Secured Mortgage Debt [Member]
Debt [Line Items]
Repurchase of debt			286,500			286,500
Losses on early extinguishment of debt, net						16,500
Secured Mortgage Debt [Member] | KTR Capital Partners and Affiliates [Member]
Debt [Line Items]
Secured mortgage debt			$ 735,200			$ 735,200
Secured Mortgage Debt [Member] | Minimum [Member] | KTR Capital Partners and Affiliates [Member]
Debt [Line Items]
Senior note effective interest rate			2.70%			2.70%		2.70%	2.70%
Debt Instrument maturity date						2017-08
Secured Mortgage Debt [Member] | Maximum [Member] | KTR Capital Partners and Affiliates [Member]
Debt [Line Items]
Senior note effective interest rate			2.90%			2.90%		2.90%	2.90%
Debt Instrument maturity date						2020-01

Debt - Credit Facilities (Detai

Debt - Credit Facilities (Detail) $ in Millions	Jun. 30, 2015USD ($)
Debt Disclosure [Abstract]
Aggregate lender commitments	$ 2,667
Borrowings outstanding	440
Outstanding letters of credit	35
Current availability	$ 2,192

Debt - Long-Term Debt Maturitie

Debt - Long-Term Debt Maturities (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
2,015	$ 24,000
2,016	1,616,000
2,017	1,852,000
2,018	828,000
2,019	1,120,000
2,020	1,296,000
2,021	1,630,000
2,022	1,323,000
2,023	859,000
2,024	914,000
Thereafter	570,000
Subtotal	12,032,000
Unamortized premiums (discounts), net	89,000
Total	12,121,305	$ 9,380,199
Credit Facilities [Member]
Debt Instrument [Line Items]
Total	440,173
Senior Notes [Member]
Debt Instrument [Line Items]
Total	6,616,471	6,076,920
Secured Mortgage Debt [Member]
Debt Instrument [Line Items]
Total	749,895	$ 1,050,591
Wholly Owned
Debt Instrument [Line Items]
2,015	19,000
2,016	1,161,000
2,017	1,337,000
2,018	425,000
2,019	977,000
2,020	1,044,000
2,021	1,629,000
2,022	1,322,000
2,023	858,000
2,024	913,000
Thereafter	566,000
Subtotal	10,251,000
Unamortized premiums (discounts), net	(2,000)
Total	10,249,000
Wholly Owned | Credit Facilities [Member]
Debt Instrument [Line Items]
2,017	391,000
2,018	49,000
Subtotal	440,000
Total	440,000
Wholly Owned | Senior Notes [Member]
Debt Instrument [Line Items]
2,017	377,000
2,018	262,000
2,019	693,000
2,020	1,037,000
2,021	1,283,000
2,022	783,000
2,023	850,000
2,024	783,000
Thereafter	560,000
Subtotal	6,628,000
Unamortized premiums (discounts), net	(12,000)
Total	6,616,000
Wholly Owned | Term Loans and Other Debt [Member]
Debt Instrument [Line Items]
2,015	1,000
2,016	1,001,000
2,017	563,000
2,018	1,000
2,019	1,000
2,020	1,000
2,021	335,000
2,022	532,000
2,023	1,000
2,024	1,000
Thereafter	6,000
Subtotal	2,443,000
Total	2,443,000
Wholly Owned | Secured Mortgage Debt [Member]
Debt Instrument [Line Items]
2,015	18,000
2,016	160,000
2,017	6,000
2,018	113,000
2,019	283,000
2,020	6,000
2,021	11,000
2,022	7,000
2,023	7,000
2,024	129,000
Subtotal	740,000
Unamortized premiums (discounts), net	10,000
Total	750,000
Consolidated Entities [Member]
Debt Instrument [Line Items]
2,015	5,000
2,016	455,000
2,017	515,000
2,018	403,000
2,019	143,000
2,020	252,000
2,021	1,000
2,022	1,000
2,023	1,000
2,024	1,000
Thereafter	4,000
Subtotal	1,781,000
Unamortized premiums (discounts), net	91,000
Total	$ 1,872,000

Stockholders' Equity of Prolo55

Stockholders' Equity of Prologis Inc and Partners Capital of the Operating Partnership - Additional Information (Detail) - USD ($) $ in Millions	May. 29, 2015	Mar. 31, 2015	Mar. 31, 2015	Jun. 30, 2015
Shareholders Equity [Line Items]
Number of share issued on debt conversion		11,900,000	11,900,000
KTR Capital Partners and Affiliates [Member]
Shareholders Equity [Line Items]
Business acquisition, common limited partnership units issued	4,500,000			4,500,000
At the Market Offering [Member]
Shareholders Equity [Line Items]
Common stock, shares issued				1,700,000
Common stock, shares outstanding				$ 71.7

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015
Prologis, L.P. [Member]
Noncontrolling Interest [Line Items]
Description of conversion rate	One share of common stock to one unit

Noncontrolling Interests - Nonc

Noncontrolling Interests - Noncontrolling Interest Summary (Detail) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2015	Dec. 31, 2014	Mar. 31, 2014
Noncontrolling Interest [Line Items]
Noncontrolling interests		$ 3,643,273	$ 1,208,090
Total Investment In Real Estate		24,387,611	19,399,364
Prologis, L.P. [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		3,461,450	1,159,901
Limited partners in Prologis, L.P.	[1],[2],[3]	181,823	48,189
Total Investment In Real Estate		24,387,611	19,399,364
Debt for Noncontrolling Interest		1,871,883	1,207,105
Debt for Noncontrolling Interest, Limited Partnerships	[1],[2]	0	0
Prologis, L.P. [Member] | Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Total Investment In Real Estate		10,439,494	4,796,478
Prologis Inc [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		3,643,273	1,208,090
Total Investment In Real Estate		10,439,494	4,796,478
Debt for Noncontrolling Interest and Limited Partnerships		$ 1,871,883	$ 1,207,105
Prologis North American Industrial Fund [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage		66.10%	66.10%	23.10%
Operating Partnership noncontrolling interest		$ 539,279	$ 544,718
Total Investment In Real Estate		2,753,882	2,771,299
Debt for Noncontrolling Interest		$ 1,121,355	$ 1,188,836
Prologis US Logistics Venture [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage	[4]	55.00%	55.00%
Operating Partnership noncontrolling interest	[4]	$ 2,759,418	$ 427,307
Total Investment In Real Estate	[4]	6,676,499	1,006,183
Debt for Noncontrolling Interest	[4]	$ 734,172	$ 0
Prologis Brazil Logistics Partners Fund I [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage	[5]	50.00%	50.00%
Operating Partnership noncontrolling interest	[5]	$ 59,702	$ 68,533
Debt for Noncontrolling Interest	[5]	$ 0	$ 0
Other Consolidated Entities [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership		various	various
Operating Partnership noncontrolling interest		$ 35,502	$ 48,627
Total Investment In Real Estate		297,788	307,686
Debt for Noncontrolling Interest		$ 16,356	$ 18,269
Partnerships with Exchangeable Units [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership	[6]	various	various
Operating Partnership noncontrolling interest	[6]	$ 67,549	$ 70,716
Total Investment In Real Estate	[6]	711,325	711,310
Debt for Noncontrolling Interest	[6]	$ 0	$ 0
[1]	As discussed in Note 2, we issued 4.5 million common limited partnership units in the Operating Partnership in connection with the KTR acquisition.
[2]	At June 30, 2015, and December 31, 2014, limited partnership units in the Operating Partnership were exchangeable into cash or, at our option, 6,262 and 1,767 shares, respectively, of the Parent’s common stock. At June 30, 2015 and December 31, 2014, the fair value of the 6,262 and 1,767 shares, respectively, would be $232.3 million and $76.0 million, respectively, based on the closing stock price of the Parent’s common stock. At June 30, 2015, and December 31, 2014, there were 1,244 and 113 LTIP Units (as defined in Note 10) outstanding, respectively, associated with our long-term compensation plan that are not exchangeable into the Parent’s common stock until they vest. All of these outstanding limited partnership units receive quarterly cash distributions equal to the quarterly distributions paid on our common stock pursuant to the terms of the partnership agreement
[3]	During the six months ended June 30, 2015, we allocated $49.7 million from the limited partners in Prologis, L.P. to common stockholders of Prologis, Inc. to align the per share/unit amount.
[4]	As discussed in Note 2, USLV acquired a portfolio of properties from KTR in May 2015. We received a contribution of $2.3 billion from our venture partner to fund their share of this acquisition.
[5]	The assets of Prologis Brazil Logistics Partners Fund I are primarily investments in unconsolidated entities of $127.5 million and $152.0 million at June 30, 2015, and December 31, 2014, respectively. For additional information on our unconsolidated investments, see Note 4.
[6]	At June 30, 2015, and December 31, 2014, limited partnership units were exchangeable into cash or, at our option, 1,835 and 1,887 shares, respectively, of the Parent’s common stock. All of these 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.

Noncontrolling Interests - No58

Noncontrolling Interests - Noncontrolling Interest Summary (Parenthetical) (Detail) - USD ($) $ in Millions	May. 29, 2015	Jun. 30, 2015	Dec. 31, 2014
Noncontrolling Interest [Line Items]
Outstanding limited partnership units		1,835	1,887
Prologis, L.P. [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units		6,262	1,767
Fair value of outstanding limited partnership units		$ 232.3	$ 76
Decrease in limited partners interest		$ 49.7
Restricted Operating Partnership Units [Member]
Noncontrolling Interest [Line Items]
Number of units outstanding		1,244,000	113,000
KTR Capital Partners and Affiliates [Member]
Noncontrolling Interest [Line Items]
Contribution received from venture partner		$ 2,300
Business acquisition, common limited partnership units issued	4,500,000	4,500,000
Prologis Brazil Logistics Partners Fund I [Member]
Noncontrolling Interest [Line Items]
Investments in unconsolidated entities		$ 127.5	$ 152

Long-Term Compensation - Additi

Long-Term Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Feb. 10, 2015	Jun. 30, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options outstanding		4,900
Stock options exercisable		4,900
Stock options outstanding, weighted average exercise price		$ 34.98
Stock options exercisable, weighted average exercise price		$ 34.98
Options granted		0	0
RSU and PSA [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units forfeited upon exchange for unvested LTIP Units		500
Number of units outstanding		1,664	2,521
OPP LTIP Units [Member] | 2013-2015 and 2014-2016 performance periods
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units outstanding		1,900
Out-Performance Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate fair value	$ 26.5
Assumed risk free interest rate	0.86%
Expected volatility rate	28.00%
Performance period used for fair value assumption	3 years

Long-Term Compensation - RSU an

Long-Term Compensation - RSU and Performance Share Awards (Detail) - 6 months ended Jun. 30, 2015 - $ / shares shares in Thousands	Total
RSU and PSA [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Awards, beginning balance	2,521
Granted	678
Vested and distributed	(997)
Forfeited	(538)
Number of Awards, ending balance	1,664
Weighted Average Grant-Date Fair Value, Beginning balance	$ 39.38
Weighted Average Grant-Date Fair Value, Ending balance	$ 42.15
Number of Shares, Beginning Balance	106
Number of Shares, Ending Balance	108
LTIP Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Awards, beginning balance	113
Granted	1,131
Number of Awards, ending balance	1,244
Weighted Average Grant-Date Fair Value, Beginning balance	$ 41.43
Weighted Average Grant-Date Fair Value, Ending balance	$ 42.21
Number of Shares, Ending Balance	251

Earnings Per Common Share _ U61

Earnings Per Common Share / Unit - Computation of Basic and Diluted Earnings Per Share Unit (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unitholders	$ 140,240	$ 72,715	$ 485,446	$ 77,381
Noncontrolling interest attributable to exchangeable limited partnership units	1,623	264	3,273	302
Gains, net of expenses, associated with exchangeable debt assumed exchanged		(7,498)	(1,614)
Adjusted net earnings attributable to common stockholders	$ 141,863	$ 65,481	$ 487,105	$ 77,683
Weighted average common shares/partnership units outstanding - Basic	523,476	499,112	518,791	498,919
Incremental weighted average effect on exchange of limited partnership units	5,431	1,964	4,617	1,964
Incremental weighted average effect of equity awards and warrant	1,733	3,664	2,037	3,677
Incremental weighted average effect on exchange of exchangeable debt		11,879	4,382
Weighted average common shares/partnership units outstanding - Diluted	530,640	516,619	529,827	504,560
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 0.27	$ 0.15	$ 0.94	$ 0.16
Diluted	$ 0.27	$ 0.13	$ 0.92	$ 0.15
Prologis, L.P. [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unitholders	$ 141,538	$ 72,973	$ 488,026	$ 77,655
Noncontrolling interest attributable to exchangeable limited partnership units	325	6	693	28
Gains, net of expenses, associated with exchangeable debt assumed exchanged		(7,498)	(1,614)
Adjusted net earnings attributable to common stockholders	$ 141,863	$ 65,481	$ 487,105	$ 77,683
Weighted average common shares/partnership units outstanding - Basic	527,071	500,879	521,548	500,686
Incremental weighted average effect on exchange of limited partnership units	1,836	197	1,860	197
Incremental weighted average effect of equity awards and warrant	1,733	3,664	2,037	3,677
Incremental weighted average effect on exchange of exchangeable debt		11,879	4,382
Weighted average common shares/partnership units outstanding - Diluted	530,640	516,619	529,827	504,560
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 0.27	$ 0.15	$ 0.94	$ 0.16
Diluted	$ 0.27	$ 0.13	$ 0.92	$ 0.15

Earnings Per Common Share _ U62

Earnings Per Common Share / Unit - Computation of Basic and Diluted Earnings Per Share Unit (Parenthetical) (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Weighted average exchangeable Operating Partnership units outstanding	3,595	1,767	2,757	1,767
Total weighted average potentially dilutive limited partnership units outstanding	7,456	15,042	7,408	15,276
Prologis, L.P. [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potentially dilutive limited partnership units outstanding	1,836	1,948	1,860	1,949
Total weighted average potentially dilutive exchangeable debt outstanding	0	11,879	4,382	11,879

Financial Instruments and Fai63

Financial Instruments and Fair Value Measurements - Derivative Activity (Detail)	6 Months Ended
	Jun. 30, 2015USD ($)Derivative	Jun. 30, 2015JPY (¥)Derivative	Jun. 30, 2015EUR (€)Derivative	Jun. 30, 2015GBP (£)Derivative	Jun. 30, 2015CADDerivative	Jun. 30, 2014USD ($)	Jun. 30, 2014JPY (¥)	Jun. 30, 2014EUR (€)
Euro Forward Contracts [Member] | Foreign Currency Contracts [Member]
Derivative [Line Items]
Notional amounts at January 1	$ 400,000,000		€ 300,000,000			$ 800,000,000		€ 600,000,000
New contracts						1,979,000,000		1,446,000,000
Matured or expired contracts	(400,000,000)		€ (300,000,000)			(1,642,000,000)		(1,199,000,000)
Notional amounts at June 30,						1,137,000,000		847,000,000
GBP Forward Contracts [Member] | Foreign Currency Contracts [Member]
Derivative [Line Items]
Notional amounts at January 1	400,000,000			£ 238,000,000
New contracts	186,000,000			118,000,000
Matured or expired contracts	(200,000,000)			(118,000,000)
Notional amounts at June 30,	$ 386,000,000			£ 238,000,000
Weighted average forward rate at June 30	1.62	1.62	1.62	1.62	1.62
Active contracts at June 30	3	3	3	3	3
Yen Forward Contracts [Member] | Foreign Currency Contracts [Member]
Derivative [Line Items]
Notional amounts at January 1	$ 250,000,000	¥ 24,136,000,000				250,000,000	¥ 24,136,000,000
New contracts	353,000,000	43,373,000,000				578,000,000	59,083,000,000
Matured or expired contracts	(603,000,000)	(67,509,000,000)				(578,000,000)	(59,083,000,000)
Notional amounts at June 30,						250,000,000	¥ 24,136,000,000
Interest Rate Swap [Member]
Derivative [Line Items]
Notional amounts at January 1	398,000,000	40,916,000,000				71,000,000
New contracts	527,000,000	65,000,000,000
Notional amounts at June 30,	$ 925,000,000	¥ 105,916,000,000				71,000,000
Weighted average forward rate at June 30	115.47	115.47	115.47	115.47	115.47
Active contracts at June 30	4	4	4	4	4
Euro Options Contracts [Member] | Foreign Currency Contracts [Member]
Derivative [Line Items]
New contracts						46,000,000		33,000,000
Matured or expired contracts						$ (46,000,000)		€ (33,000,000)
Euro Options Contracts [Member] | Euro Forward Contracts [Member] | Foreign Currency Contracts [Member]
Derivative [Line Items]
Notional amounts at January 1	$ 354,000,000		€ 284,000,000
New contracts	224,000,000		198,000,000
Matured or expired contracts	(311,000,000)		(254,000,000)
Notional amounts at June 30,	$ 267,000,000		€ 228,000,000
Weighted average forward rate at June 30	1.17	1.17	1.17	1.17	1.17
Active contracts at June 30	15	15	15	15	15
GBP Options Contracts [Member] | GBP Forward Contracts [Member] | Foreign Currency Contracts [Member]
Derivative [Line Items]
New contracts	$ 188,000,000			£ 126,000,000
Matured or expired contracts	(79,000,000)			(53,000,000)
Notional amounts at June 30,	$ 109,000,000			£ 73,000,000
Weighted average forward rate at June 30	1.31	1.31	1.31	1.31	1.31
Active contracts at June 30	12	12	12	12	12
JPY Options Contracts [Member] | Yen Forward Contracts [Member] | Foreign Currency Contracts [Member]
Derivative [Line Items]
New contracts	$ 109,000,000	¥ 12,740,000,000
Matured or expired contracts	(24,000,000)	(2,800,000,000)
Notional amounts at June 30,	$ 85,000,000	¥ 9,940,000,000
Weighted average forward rate at June 30	117.07	117.07	117.07	117.07	117.07
Active contracts at June 30	12	12	12	12	12
CAD Options Contracts [Member] | Cad Forward Contracts [Member] | Foreign Currency Contracts [Member]
Derivative [Line Items]
New contracts	$ 40,000,000				CAD 49,000,000
Matured or expired contracts	(6,000,000)				(7,000,000)
Notional amounts at June 30,	$ 34,000,000				CAD 42,000,000
Weighted average forward rate at June 30	1.23	1.23	1.23	1.23	1.23
Active contracts at June 30	6	6	6	6	6

Financial Instruments and Fai64

Financial Instruments and Fair Value Measurements - Derivative Activity (Parenthetical) (Detail) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)Contracts	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Contracts	Jun. 30, 2014USD ($)Contracts	Jun. 30, 2015EUR (€)$ / €	Jun. 30, 2015GBP (£)$ / €
Derivative [Line Items]
Number of option contracts exercised			13	1
Gains from option contracts exercised | $	$ 4	$ 0.1	$ 6.2	$ 0.1
2015 Yen Senior Term Loan [Member]
Derivative [Line Items]
Number of contracts	2
GBP Options Contracts [Member] | Foreign Currency Contracts [Member]
Derivative [Line Items]
Number of forward contracts included in option contracts available to sell			6
Forward Contracts [Member] | GBP Options Contracts [Member] | Foreign Currency Contracts [Member]
Derivative [Line Items]
Notional value of forward contracts					€ 46,800,000	£ 35,000,000
Weighted average forward rate at June 30 | $ / €					1.11	1.11

Financial Instruments and Fai65

Financial Instruments and Fair Value Measurements - Schedule of Fair Value of Derivative Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Asset	$ 30,193	$ 106,664
Liability	8,057	1,395
Net Investment Hedges - Euro Denominated [Member]
Derivatives, Fair Value [Line Items]
Asset		22,891
Net Investment Hedges - Yen Denominated [Member]
Derivatives, Fair Value [Line Items]
Asset		46,934
Net Investment Hedges - Pounds Sterling Denominated [Member]
Derivatives, Fair Value [Line Items]
Asset	12,543	29,097
Liability	203
Foreign Currency Options - Euro Denominated [Member]
Derivatives, Fair Value [Line Items]
Asset	14,826	7,742
Liability	463
Foreign Currency Options - Yen Denominated [Member]
Derivatives, Fair Value [Line Items]
Asset	2,313
Foreign Currency Options - Pound Sterling Denominated [Member]
Derivatives, Fair Value [Line Items]
Liability	5,136
Foreign Currency Options Canadian Dollar Denominated [Member]
Derivatives, Fair Value [Line Items]
Asset	414
Interest Rate Swap Hedges [Member]
Derivatives, Fair Value [Line Items]
Asset	97
Liability	$ 2,255	$ 1,395

Financial Instruments and Fai66

Financial Instruments and Fair Value Measurements - Schedule of Fair Value of Derivative Instruments (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Foreign Currency Options [Member]
Derivatives, Fair Value [Line Items]
Gains (losses) on foreign exchange transactions	$ (10.6)	$ 0	$ 9.5	$ 0

Financial Instruments and Fai67

Financial Instruments and Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Fair Value Disclosures [Abstract]
Foreign currency translation gains (losses)	$ 215.5	$ 53.8	$ (306.9)	$ 71.4

Financial Instruments and Fai68

Financial Instruments and Fair Value Measurements - Summary of Gains (Losses) From Change in Fair Value of Derivative Instruments Included in Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total gain (loss) on derivative instruments	$ (29,446)	$ (8,359)	$ 37,541	$ (26,380)
Total gain (loss) on derivative and nonderivative hedging instruments	(140,983)	7,491	260,944	(16,060)
Derivative Net Investment Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total gain (loss) on derivative instruments	(28,984)	(6,195)	34,194	(23,109)
Interest Rate Swap Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total gain (loss) on derivative instruments	(2,341)	(187)	(759)	(190)
Our Share of Derivatives from Unconsolidated Co-Investment Ventures [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total gain (loss) on derivative instruments	1,879	(1,977)	4,106	(3,081)
Non-Derivative Net Investment Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Nonderivative net investment hedges	$ (111,537)	$ 15,850	$ 223,403	$ 10,320

Financial Instruments and Fai69

Financial Instruments and Fair Value Measurements - Summary of Gains (Losses) From Change in Fair Value of Derivative Instruments Included in Other Comprehensive Income (Loss) (Parenthetical) (Detail) $ in Thousands, € in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015EUR (€)	Dec. 31, 2014USD ($)	Dec. 31, 2014EUR (€)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest expense reclassified	$ 68,902	$ 80,184	$ 137,663	$ 165,707
Debt issued	12,032,000		12,032,000
Foreign currency translation losses, net	74,937	63,464	(49,342)	58,741
Foreign Currency Forward Contracts [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Foreign currency translation losses, net	(5,400)		10,000	0
Foreign Currency Forward Contracts [Member] | Designated As Hedging Instrument
Accumulated Other Comprehensive Income (Loss) [Line Items]
Debt issued	3,600,000		3,600,000			€ 3,200	$ 3,000,000	€ 2,500
Foreign Currency Forward Contracts [Member] | Nondesignated
Accumulated Other Comprehensive Income (Loss) [Line Items]
Debt issued							$ 118,500	€ 97.6
Scenario Forecast | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest expense reclassified					$ 2,400
Net Investment Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gain (Loss) on settlement of derivatives	$ 120,100	$ 4,500	$ 121,500	$ 11,400

Financial Instruments and Fai70

Financial Instruments and Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	$ 12,121,305	$ 9,380,199
Fair Value of Debt	12,538,779	10,080,157
Credit Facilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	440,173
Fair Value of Debt	440,377
Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	6,616,471	6,076,920
Fair Value of Debt	6,927,802	6,593,657
Exchangeable Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt		456,766
Fair Value of Debt		511,931
Secured Mortgage Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	749,895	1,050,591
Fair Value of Debt	849,260	1,173,488
Term Loans and Other Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	2,442,883	588,816
Fair Value of Debt	2,445,631	591,810
Secured Mortgage Debt of Consolidated Entities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	1,871,883	1,207,106
Fair Value of Debt	$ 1,875,709	$ 1,209,271

Business Segments - Additional

Business Segments - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015Segment
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		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Total revenues	$ 510,404	$ 460,089	$ 973,251	$ 894,771
General and administrative expenses	(57,027)	(60,375)	(113,315)	(123,578)
Depreciation and amortization	(190,188)	(161,577)	(359,996)	(321,857)
Earnings from unconsolidated entities, net	41,784	21,151	72,826	50,897
Interest expense	(68,902)	(80,184)	(137,663)	(165,707)
Interest and other income, net	1,847	5,116	12,896	19,166
Gains on acquisitions and dispositions of investments in real estate, net	108,782	169,583	386,497	186,638
Foreign currency and derivative gains (losses) and related amortization, net	(25,512)	10,130	9,054	(18,054)
Losses on early extinguishment of debt, net	(236)	(77,558)	(16,525)	(77,285)
Consolidated net earnings	140,260	152,430	491,572	164,433
Investments in and advances to unconsolidated entities	4,911,505		4,911,505		$ 4,824,724
Assets held for sale	514,752		514,752		43,934
Cash and cash equivalents	351,025	267,427	351,025	267,427	350,692	$ 491,129
Earnings before income taxes	145,111	143,512	498,314	162,395
Total assets	31,602,397		31,602,397		25,818,223
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenues	510,404	460,089	973,251	894,771
Consolidated net earnings	334,563	317,226	644,540	612,175
Total assets	25,384,560		25,384,560		20,258,013
Operating Segments [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	463,358	383,755	884,180	773,127
Consolidated net earnings	307,632	268,729	595,945	542,531
Total assets	25,310,784		25,310,784		20,180,083
Operating Segments [Member] | Investment Management [Member]
Segment Reporting Information [Line Items]
Total revenues	47,046	76,334	89,071	121,644
Consolidated net earnings	26,931	48,497	48,595	69,644
Total assets	73,776		73,776		77,930
Operating Segments [Member] | Americas [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	432,329	344,347	822,959	700,472
Consolidated net earnings	287,504	243,269	557,395	496,730
Total assets	23,002,012		23,002,012		17,432,909
Operating Segments [Member] | Americas [Member] | Investment Management [Member]
Segment Reporting Information [Line Items]
Total revenues	17,116	47,315	32,042	61,890
Consolidated net earnings	7,234	30,092	12,125	32,148
Total assets	19,999		19,999		20,635
Operating Segments [Member] | Europe [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	16,681	20,473	35,450	36,661
Consolidated net earnings	10,143	11,410	21,081	19,634
Total assets	1,344,352		1,344,352		1,820,529
Operating Segments [Member] | Europe [Member] | Investment Management [Member]
Segment Reporting Information [Line Items]
Total revenues	21,001	19,453	39,394	41,153
Consolidated net earnings	14,426	12,125	26,291	25,809
Total assets	51,461		51,461		54,577
Operating Segments [Member] | Asia [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	14,348	18,935	25,771	35,994
Consolidated net earnings	9,985	14,050	17,469	26,167
Total assets	964,420		964,420		926,645
Operating Segments [Member] | Asia [Member] | Investment Management [Member]
Segment Reporting Information [Line Items]
Total revenues	8,929	9,566	17,635	18,601
Consolidated net earnings	5,271	6,280	10,179	11,687
Total assets	2,316		2,316		2,718
Reconciling Items [Member]
Segment Reporting Information [Line Items]
General and administrative expenses	(57,027)	(60,375)	(113,315)	(123,578)
Depreciation and amortization	(190,188)	(161,577)	(359,996)	(321,857)
Earnings from unconsolidated entities, net	41,784	21,151	72,826	50,897
Interest expense	(68,902)	(80,184)	(137,663)	(165,707)
Interest and other income, net	1,847	5,116	12,896	19,166
Gains on acquisitions and dispositions of investments in real estate, net	108,782	169,583	386,497	186,638
Foreign currency and derivative gains (losses) and related amortization, net	(25,512)	10,130	9,054	(18,054)
Losses on early extinguishment of debt, net	(236)	(77,558)	(16,525)	(77,285)
Consolidated net earnings	(189,452)	$ (173,714)	(146,226)	$ (449,780)
Investments in and advances to unconsolidated entities	4,911,505		4,911,505		4,824,724
Assets held for sale	514,752		514,752		43,934
Note receivable backed by real estate	197,500		197,500		0
Cash and cash equivalents	351,025		351,025		350,692
Other assets	243,055		243,055		340,860
Total assets	$ 6,217,837		$ 6,217,837		$ 5,560,210

Supplemental Cash Flow Inform73

Supplemental Cash Flow Information - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Real Estate Properties [Line Items]
Ownership interests received	$ 50.2
Note receivable as portion of proceeds from contribution of properties	$ 16.3
Interest paid in cash, net of amounts capitalized			$ 185.4	$ 141.3
Cash paid for income taxes, net of refunds			12	49.7
FIBRA Prologis [Member]
Real Estate Properties [Line Items]
Ownership interests received		$ 601.6
Assumed debt		$ 345.1
Prologis European Logistics Partners Sarl [Member]
Real Estate Properties [Line Items]
Capitalization for equity based compensation expense			$ 11.5	$ 10.9