Prologis 10-Q 2 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 27, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
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		524,311,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015		Dec. 31, 2014
ASSETS
Investments in real estate properties	$ 27,269,358		$ 22,190,145
Less accumulated depreciation	3,156,445		2,790,781
Net investments in real estate properties	24,112,913		19,399,364
Investments in and advances to unconsolidated entities	4,841,225		4,824,724
Assets held for sale	369,382	[1]	43,934
Note receivable backed by real estate	197,500
Net investments in real estate	29,521,020		24,268,022
Cash and cash equivalents	310,433		350,692
Other assets	1,587,901		1,199,509
Total assets	31,419,354		25,818,223
Liabilities:
Debt	11,934,355		9,380,199
Accounts payable and accrued expenses	697,860		627,999
Other liabilities	602,168		626,426
Total liabilities	13,234,383		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 September 30, 2015, and December 31, 2014	78,235		78,235
Common stock: $0.01 par value; 524,186 shares and 509,498 shares issued and outstanding at September 30, 2015, and December 31, 2014, respectively	5,242		5,095
Additional paid-in capital	19,150,336		18,467,009
Accumulated other comprehensive loss	(776,570)		(600,337)
Distributions in excess of net earnings	(3,825,673)		(3,974,493)
Total Prologis, Inc. stockholders’ equity	14,631,570		13,975,509
Partners' capital:
Noncontrolling interests	3,553,401		1,208,090
Total equity	18,184,971		15,183,599
Total liabilities and equity	31,419,354		25,818,223
Prologis, L.P. [Member]
ASSETS
Investments in real estate properties	27,269,358		22,190,145
Less accumulated depreciation	3,156,445		2,790,781
Net investments in real estate properties	24,112,913		19,399,364
Investments in and advances to unconsolidated entities	4,841,225		4,824,724
Assets held for sale	369,382		43,934
Note receivable backed by real estate	197,500
Net investments in real estate	29,521,020		24,268,022
Cash and cash equivalents	310,433		350,692
Other assets	1,587,901		1,199,509
Total assets	31,419,354		25,818,223
Liabilities:
Debt	11,934,355		9,380,199
Accounts payable and accrued expenses	697,860		627,999
Other liabilities	602,168		626,426
Total liabilities	13,234,383		10,634,624
Partners' capital:
Limited partners	181,976		48,189
Total partners’ capital	14,813,546		14,023,698
Noncontrolling interests	3,371,425		1,159,901
Total capital	18,184,971		15,183,599
Total liabilities and equity	31,419,354		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	$ 14,553,335		$ 13,897,274
[1]	Includes two parcels of land held for sale at September 30, 2015

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 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	524,186,000	509,498,000
Common stock, shares outstanding	524,186,000	509,498,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Rental income	$ 418,116	$ 275,686	$ 1,100,491	$ 871,025
Rental recoveries	114,639	80,136	312,510	254,310
Strategic capital income	44,176	54,070	133,247	175,714
Development management and other income	3,691	5,259	7,625	8,873
Total revenues	580,622	415,151	1,553,873	1,309,922
Expenses:
Rental expenses	139,905	102,324	392,438	322,417
Strategic capital expenses	21,714	22,442	62,190	74,442
General and administrative expenses	59,375	58,203	172,690	181,781
Depreciation and amortization	247,471	149,202	607,467	471,059
Other expenses	8,765	4,868	44,467	15,371
Total expenses	477,230	337,039	1,279,252	1,065,070
Operating income	103,392	78,112	274,621	244,852
Other income (expense):
Earnings from unconsolidated entities, net	33,557	28,514	106,383	79,411
Interest expense	(81,035)	(69,086)	(218,698)	(234,793)
Interest and other income, net	6,237	550	19,133	19,716
Gains on dispositions of investments in real estate, net	268,791	151,057	655,288	337,695
Foreign currency and derivative gains (losses) and related amortization, net	(9,428)	20,792	(374)	2,738
Losses on early extinguishment of debt, net		(86,076)	(16,525)	(163,361)
Total other income	218,122	45,751	545,207	41,406
Earnings before income taxes	321,514	123,863	819,828	286,258
Current income tax expense	17,283	10,394	22,828	59,292
Deferred income tax benefit	(2,955)	(33,658)	(1,758)	(84,594)
Total income tax expense (benefit)	14,328	(23,264)	21,070	(25,302)
Consolidated net earnings	307,186	147,127	798,758	311,560
Net earnings attributable to noncontrolling interests	(46,536)	(9,212)	(49,314)	(85,664)
Net earnings attributable to controlling interests	260,650	137,915	749,444	225,896
Less preferred stock/unit dividends/distributions	1,671	1,670	5,019	5,753
Loss on preferred stock/unit repurchase				6,517
Net earnings attributable to common stockholders/unitholders	$ 258,979	$ 136,245	$ 744,425	$ 213,626
Weighted average common shares/units outstanding – Basic	523,528	499,292	520,388	499,045
Weighted average common shares/units outstanding – Diluted	532,073	516,088	531,121	504,211
Net earnings per share attributable to common stockholders/unitholders – Basic	$ 0.49	$ 0.27	$ 1.43	$ 0.43
Net earnings per share attributable to common stockholders/unitholders – Diluted	0.49	0.23	1.41	0.43
Dividends per common share	0.40	0.33	1.12	0.99
Distributions per common unit	$ 0.40	$ 0.33	$ 1.12	$ 0.99
Prologis, L.P. [Member]
Revenues:
Rental income	$ 418,116	$ 275,686	$ 1,100,491	$ 871,025
Rental recoveries	114,639	80,136	312,510	254,310
Strategic capital income	44,176	54,070	133,247	175,714
Development management and other income	3,691	5,259	7,625	8,873
Total revenues	580,622	415,151	1,553,873	1,309,922
Expenses:
Rental expenses	139,905	102,324	392,438	322,417
Strategic capital expenses	21,714	22,442	62,190	74,442
General and administrative expenses	59,375	58,203	172,690	181,781
Depreciation and amortization	247,471	149,202	607,467	471,059
Other expenses	8,765	4,868	44,467	15,371
Total expenses	477,230	337,039	1,279,252	1,065,070
Operating income	103,392	78,112	274,621	244,852
Other income (expense):
Earnings from unconsolidated entities, net	33,557	28,514	106,383	79,411
Interest expense	(81,035)	(69,086)	(218,698)	(234,793)
Interest and other income, net	6,237	550	19,133	19,716
Gains on dispositions of investments in real estate, net	268,791	151,057	655,288	337,695
Foreign currency and derivative gains (losses) and related amortization, net	(9,428)	20,792	(374)	2,738
Losses on early extinguishment of debt, net		(86,076)	(16,525)	(163,361)
Total other income	218,122	45,751	545,207	41,406
Earnings before income taxes	321,514	123,863	819,828	286,258
Current income tax expense	17,283	10,394	22,828	59,292
Deferred income tax benefit	(2,955)	(33,658)	(1,758)	(84,594)
Total income tax expense (benefit)	14,328	(23,264)	21,070	(25,302)
Consolidated net earnings	307,186	147,127	798,758	311,560
Net earnings attributable to noncontrolling interests	(43,360)	(8,719)	(43,558)	(84,897)
Net earnings attributable to controlling interests	263,826	138,408	755,200	226,663
Less preferred stock/unit dividends/distributions	1,671	1,670	5,019	5,753
Loss on preferred stock/unit repurchase				6,517
Net earnings attributable to common stockholders/unitholders	$ 262,155	$ 136,738	$ 750,181	$ 214,393
Weighted average common shares/units outstanding – Basic	530,044	501,135	524,411	500,837
Weighted average common shares/units outstanding – Diluted	532,073	516,088	531,121	504,211
Net earnings per share attributable to common stockholders/unitholders – Basic	$ 0.49	$ 0.27	$ 1.43	$ 0.43
Net earnings per share attributable to common stockholders/unitholders – Diluted	0.49	0.23	1.41	0.43
Dividends per common share	0.40	0.33	1.12	0.99
Distributions per common unit	$ 0.40	$ 0.33	$ 1.12	$ 0.99

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Consolidated net earnings	$ 307,186	$ 147,127	$ 798,758	$ 311,560
Other comprehensive income (loss):
Foreign currency translation losses, net	(148,570)	(130,763)	(197,912)	(72,022)
Unrealized losses and amortization on derivative contracts, net	(15,660)	(4,359)	(12,313)	(7,784)
Comprehensive income	142,956	12,005	588,533	231,754
Net earnings attributable to noncontrolling interests	(46,536)	(9,212)	(49,314)	(85,664)
Other comprehensive loss attributable to noncontrolling interest	18,925	9,709	33,992	4,820
Comprehensive income attributable to common stockholders / unitholders	115,345	12,502	573,211	150,910
Prologis, L.P. [Member]
Consolidated net earnings	307,186	147,127	798,758	311,560
Other comprehensive income (loss):
Foreign currency translation losses, net	(148,570)	(130,763)	(197,912)	(72,022)
Unrealized losses and amortization on derivative contracts, net	(15,660)	(4,359)	(12,313)	(7,784)
Comprehensive income	142,956	12,005	588,533	231,754
Net earnings attributable to noncontrolling interests	(43,360)	(8,719)	(43,558)	(84,897)
Other comprehensive loss attributable to noncontrolling interest	17,104	9,249	31,788	4,538
Comprehensive income attributable to common stockholders / unitholders	$ 116,700	$ 12,535	$ 576,763	$ 151,395

Consolidated Statement of Equit

Consolidated Statement of Equity - 9 months ended Sep. 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	$ 798,758					749,444	49,314
Effect of equity compensation plans	57,625		$ 12	36,410			21,203
Effect of equity compensation plans, shares			1,149
Issuance of stock in at-the-market program, net of issuance costs	71,620		$ 16	71,604
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 from our partners	2,354,697						2,354,697
Foreign currency translation losses, net	(197,912)				(164,072)		(33,840)
Unrealized losses and amortization on derivative contracts, net	(12,313)				(12,161)		(152)
Allocation from the limited partners				71,740			(71,740)
Distributions and other	(755,005)			960		(600,624)	(155,341)
Distributions and other, shares			5
Balance at Sep. 30, 2015	$ 18,184,971	$ 78,235	$ 5,242	$ 19,150,336	$ (776,570)	$ (3,825,673)	$ 3,553,401
Balance, shares at Sep. 30, 2015	524,186		524,186

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities:
Consolidated net earnings	$ 798,758	$ 311,560
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(37,537)	(11,213)
Equity-based compensation awards	40,124	43,042
Depreciation and amortization	607,467	471,059
Earnings from unconsolidated entities, net	(106,383)	(79,411)
Distributions and net changes in operating receivables from unconsolidated entities	91,328	78,702
Amortization of debt intangibles and deferred financing costs	(22,271)	(2,091)
Gains on dispositions of investments in real estate, net	(655,288)	(337,695)
Losses on early extinguishment of debt, net	16,525	163,361
Unrealized foreign currency and derivative losses and related amortization, net	6,931	1,993
Deferred income tax benefit	(1,758)	(84,594)
Increase in accounts receivable and other assets	(68,243)	(20,688)
Decrease in accounts payable and accrued expenses and other liabilities	(19,838)	(83,238)
Net cash provided by operating activities	649,815	450,787
Investing activities:
Real estate development activity	(950,199)	(776,237)
Real estate acquisitions	(571,368)	(389,818)
KTR acquisition, net of cash received	(4,809,499)
Tenant improvements and lease commissions on previously leased space	(108,662)	(95,812)
Non-development capital expenditures	(51,374)	(47,915)
Proceeds from dispositions and contributions of real estate properties	1,814,532	1,654,554
Investments in and advances to unconsolidated entities	(438,964)	(1,324,530)
Return of investment from unconsolidated entities	109,359	188,507
Proceeds from repayment of note receivable	9,866	188,000
Proceeds from the settlement of net investment hedges	122,505	14,487
Payments on the settlement of net investment hedges	(981)	(14,691)
Net cash used in investing activities	(4,874,785)	(603,455)
Financing activities:
Proceeds from issuance of common stock	84,112	15,085
Dividends paid on common and preferred stock	(592,795)	(502,259)
Repurchase of preferred stock		(27,643)
Noncontrolling interests contributions	2,354,468	467,016
Noncontrolling interests distributions	(157,517)	(269,400)
Purchase of noncontrolling interests	(2,560)	(2,440)
Debt and equity issuance costs paid	(18,476)	(19,318)
Net proceeds from credit facilities	199,958	22,076
Repurchase and payments of debt	(913,178)	(3,731,044)
Proceeds from issuance of debt	3,239,261	4,024,785
Net cash provided by (used in) financing activities	4,193,273	(23,142)
Effect of foreign currency exchange rate changes on cash	(8,562)	(3,440)
Net decrease in cash and cash equivalents	(40,259)	(179,250)
Cash and cash equivalents, beginning of period	350,692	491,129
Cash and cash equivalents, end of period	310,433	311,879
Prologis, L.P. [Member]
Operating activities:
Consolidated net earnings	798,758	311,560
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(37,537)	(11,213)
Equity-based compensation awards	40,124	43,042
Depreciation and amortization	607,467	471,059
Earnings from unconsolidated entities, net	(106,383)	(79,411)
Distributions and net changes in operating receivables from unconsolidated entities	91,328	78,702
Amortization of debt intangibles and deferred financing costs	(22,271)	(2,091)
Gains on dispositions of investments in real estate, net	(655,288)	(337,695)
Losses on early extinguishment of debt, net	16,525	163,361
Unrealized foreign currency and derivative losses and related amortization, net	6,931	1,993
Deferred income tax benefit	(1,758)	(84,594)
Increase in accounts receivable and other assets	(68,243)	(20,688)
Decrease in accounts payable and accrued expenses and other liabilities	(19,838)	(83,238)
Net cash provided by operating activities	649,815	450,787
Investing activities:
Real estate development activity	(950,199)	(776,237)
Real estate acquisitions	(571,368)	(389,818)
KTR acquisition, net of cash received	(4,809,499)
Tenant improvements and lease commissions on previously leased space	(108,662)	(95,812)
Non-development capital expenditures	(51,374)	(47,915)
Proceeds from dispositions and contributions of real estate properties	1,814,532	1,654,554
Investments in and advances to unconsolidated entities	(438,964)	(1,324,530)
Return of investment from unconsolidated entities	109,359	188,507
Proceeds from repayment of note receivable	9,866	188,000
Proceeds from the settlement of net investment hedges	122,505	14,487
Payments on the settlement of net investment hedges	(981)	(14,691)
Net cash used in investing activities	(4,874,785)	(603,455)
Financing activities:
Proceeds from issuance of common stock	84,112	15,085
Dividends paid on common and preferred stock	(600,186)	(504,045)
Repurchase of preferred stock		(27,643)
Noncontrolling interests contributions	2,354,468	467,016
Noncontrolling interests distributions	(150,523)	(267,614)
Purchase of noncontrolling interests	(2,163)	(2,440)
Debt and equity issuance costs paid	(18,476)	(19,318)
Net proceeds from credit facilities	199,958	22,076
Repurchase and payments of debt	(913,178)	(3,731,044)
Proceeds from issuance of debt	3,239,261	4,024,785
Net cash provided by (used in) financing activities	4,193,273	(23,142)
Effect of foreign currency exchange rate changes on cash	(8,562)	(3,440)
Net decrease in cash and cash equivalents	(40,259)	(179,250)
Cash and cash equivalents, beginning of period	350,692	491,129
Cash and cash equivalents, end of period	$ 310,433	$ 311,879

Consolidated Statement of Capit

Consolidated Statement of Capital - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Consolidated net earnings	$ 307,186	$ 798,758
Effect of equity compensation plans		57,625
Issuance of stock in at-the-market program, net of issuance costs		71,620
Issuance of stock upon conversion of exchangeable debt		502,732
Issuance of units related to KTR acquisition		181,170
Capital contributions from our partners		2,354,697
Non-controlling Interests [Member]
Consolidated net earnings		49,314
Effect of equity compensation plans		21,203
Issuance of units related to KTR acquisition		181,170
Capital contributions from our partners		2,354,697
Prologis, L.P. [Member]
Beginning balance		15,183,599
Consolidated net earnings	307,186	798,758
Effect of equity compensation plans		57,625
Issuance of stock in at-the-market program, net of issuance costs		71,620
Issuance of stock upon conversion of exchangeable debt		502,732
Issuance of units related to KTR acquisition		181,170
Capital contributions from our partners		2,354,697
Foreign currency translation losses, net		(197,912)
Unrealized losses and amortization on derivative contracts, net		(12,313)
Distributions and other		(755,005)
Ending balance	18,184,971	18,184,971
Prologis, L.P. [Member] | Non-controlling Interests [Member]
Beginning balance		1,159,901
Consolidated net earnings		43,558
Capital contributions from our partners		2,354,697
Foreign currency translation losses, net		(31,788)
Distributions and other		(154,943)
Ending balance	3,371,425	3,371,425
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		$ 749,444
Effect of equity compensation plans		$ 36,422
Effect of equity compensation plans, shares		1,149
Issuance of stock in at-the-market program, net of issuance costs		$ 71,620
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		$ (164,072)
Unrealized losses and amortization on derivative contracts, net		(12,161)
Allocation to the common unit holders		71,740
Distributions and other		$ (599,664)
Distributions and other, shares		5
Ending balance	$ 14,553,335	$ 14,553,335
Ending balance, Units	524,186	524,186
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Beginning balance		$ 48,189
Beginning balance, Units		1,767
Consolidated net earnings		$ 5,756
Effect of equity compensation plans		$ 21,203
Effect of equity compensation plans, shares		303
Issuance of units related to KTR acquisition		$ 181,170
Issuance of units related to KTR acquisition, shares		4,500
Foreign currency translation losses, net		$ (2,052)
Unrealized losses and amortization on derivative contracts, net		(152)
Allocation to the common unit holders		(71,740)
Distributions and other		$ (398)
Distributions and other, shares		(16)
Ending balance	$ 181,976	$ 181,976
Ending balance, Units	6,554	6,554

General

General	9 Months Ended
	Sep. 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 September 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 nonaffiliated investors and certain current and former directors and officers of the Parent. As the sole general partner of the Operating Partnership, the Parent has 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 our annual financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations. Our management believes that the disclosures presented in these financial statements are adequate to make the information presented not misleading. In our opinion, all adjustments and eliminations, consisting only of normal recurring adjustments, necessary to present fairly the financial position and results of operations for both the Parent and the 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 September 2015, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update that amends the retroactive requirement to apply adjustments made to provisional amounts recognized in a business combination. The update requires that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. We early adopted this standard for business combinations with open measurement periods for which the accounting is not finalized as of September 30, 2015. The adoption of this standard did not have a material impact on the Consolidated Financial Statements. In April 2015, 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 September 30, 2015, we had $50.8 million of debt issuance costs in Other Assets 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 annual reporting periods beginning after December 15, 2017. 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	9 Months Ended
	Sep. 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 during the second quarter of 2015, which 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 $ 5,428,422 Cash, accounts receivable and other assets 378,159 Debt, including premium (735,172 ) Accounts payable, accrued expenses and other liabilities (80,740 ) 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 nine months ended September 30, 2015, include approximately four months of actual results for the acquisition, including the acquisition expenses, and five months of pro forma adjustments. Actual results in 2015 include rental income and rental expenses of the properties acquired of $132.7 million and $30.0 million, respectively, representing the period from acquisition through September 30, 2015. The following amounts are in thousands, except per share amounts: Three Months Ended September 30, Nine Months Ended September 30, 2014 2015 2014 Total revenues $ 491,203 $ 1,715,540 $ 1,538,073 Net earnings attributable to common stockholders $ 133,568 $ 756,302 $ 207,329 Net earnings per share attributable to common stockholders – Basic $ 0.27 $ 1.45 $ 0.42 Net earnings per share attributable to common stockholders – Diluted $ 0.22 $ 1.43 $ 0.41 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 assumed. 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 was as follows (in thousands): Investments in real estate properties $ 2,639,481 Cash, accounts receivable and other assets 262,971 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	9 Months Ended
	Sep. 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) Number of Buildings (1) September 30, December 31, September 30, December 31, September 30, December 31, 2015 2014 2015 2014 2015 2014 Industrial operating properties: Improved land - - - - - - - - $ 5,724,586 $ 4,227,637 Buildings and improvements 342,762 282,282 1,909 1,607 17,774,600 14,407,815 Development portfolio, including land costs: Prestabilized 7,321 7,448 24 24 558,208 547,982 Properties under development 22,310 22,844 50 55 1,017,181 925,998 Land 8,500 9,017 - - - - 1,569,416 1,577,786 Other real estate investments (2) 625,367 502,927 Total investments in real estate properties 27,269,358 22,190,145 Less accumulated depreciation 3,156,445 2,790,781 Net investments in real estate properties $ 24,112,913 $ 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) land parcels that are ground leased to third parties; (iii) our corporate office buildings; (iv) earnest money deposits associated with potential acquisitions; (v) certain infrastructure costs related to projects we are developing on behalf of others and (vi) costs related to future development projects, including purchase options on land. Acquisitions The following table summarizes our real estate acquisition activity for the nine months ended September 30 (dollars and square feet in thousands): 2015 (1) 2014 Acquisitions of operating properties from third parties Number of industrial operating properties 27 8 Square feet 3,651 1,004 Real estate acquisition value $ 305,519 $ 78,314 (1) Excludes the properties acquired in the KTR acquisition, see Note 2 for additional information. Dispositions The following table summarizes our real estate disposition activity for the nine months ended September 30 (dollars and square feet in thousands): 2015 2014 Contributions to unconsolidated co-investment ventures Number of properties 23 115 Square feet 6,659 22,806 Net proceeds (1) $ 662,645 $ 1,627,424 Net gains on contributions (1) $ 111,307 $ 156,746 Dispositions to third parties Number of properties 75 106 Square feet 12,723 14,663 Net proceeds (1) $ 1,347,755 $ 955,240 Net gains on dispositions (1) $ 543,981 $ 180,949 (1) Includes 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 Prologis 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	9 Months Ended
	Sep. 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 using the equity method. We refer to our investments in all entities accounted for using the equity method, both unconsolidated co-investment ventures and other ventures, collectively, as unconsolidated entities. The following table summarizes our investments in and advances to our unconsolidated entities (in thousands): September 30, December 31, 2015 2014 Unconsolidated co-investment ventures $ 4,631,329 $ 4,665,918 Other ventures 209,896 158,806 Totals $ 4,841,225 $ 4,824,724 Unconsolidated Co-Investment Ventures The amounts recognized in Strategic Capital Income Earnings from Unconsolidated Entities, Net The following tables summarize these unconsolidated co-investment ventures: September 30, December 31, September 30, (dollars and square feet in millions) 2015 2014 2014 Americas: Number of ventures 3 3 4 Number of properties owned 602 590 814 Square feet 89.2 87.1 130.5 Total assets $ 6,870 $ 7,063 $ 9,396 Third-party debt $ 2,025 $ 2,280 $ 3,309 Total liabilities $ 2,166 $ 2,421 $ 3,513 Our investment balance (1) $ 1,480 $ 1,537 $ 2,371 Our weighted average ownership (2) 29.7 % 31.0 % 40.2 % Europe: Number of ventures 4 4 4 Number of properties owned 683 636 629 Square feet 158.5 147.4 145.3 Total assets $ 11,734 $ 11,463 $ 11,952 Third-party debt $ 2,786 $ 2,644 $ 2,798 Total liabilities $ 3,766 $ 3,524 $ 3,823 Our investment balance (1) $ 2,796 $ 2,773 $ 2,894 Our weighted average ownership (2) 39.5 % 38.8 % 38.8 % Asia: Number of ventures 2 2 2 Number of properties owned 57 52 51 Square feet 27.3 26.2 26.0 Total assets $ 4,248 $ 4,135 $ 4,366 Third-party debt $ 1,747 $ 1,652 $ 1,758 Total liabilities $ 1,969 $ 1,749 $ 1,955 Our investment balance (1) (3) $ 355 $ 356 $ 376 Our weighted average ownership (2) 15.0 % 15.0 % 15.0 % Total: Number of ventures 9 9 10 Number of properties owned 1,342 1,278 1,494 Square feet 275.0 260.7 301.8 Total assets $ 22,852 $ 22,661 $ 25,714 Third-party debt $ 6,558 $ 6,576 $ 7,865 Total liabilities $ 7,901 $ 7,694 $ 9,291 Our investment balance (1) $ 4,631 $ 4,666 $ 5,641 Our weighted average ownership (2) 32.1 % 32.0 % 35.4 % Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2015 2014 2015 2014 Americas (4): Revenues $ 152,196 $ 204,225 $ 457,048 $ 551,153 Net operating income $ 118,146 $ 154,415 $ 347,616 $ 405,900 Net earnings $ 33,561 $ 24,362 $ 77,606 $ 16,792 Europe: Revenues $ 237,914 $ 250,477 $ 702,772 $ 749,433 Net operating income $ 186,779 $ 198,011 $ 548,705 $ 590,856 Net earnings $ 50,504 $ 38,708 $ 168,947 $ 166,999 Asia: Revenues $ 68,451 $ 70,969 $ 204,629 $ 209,188 Net operating income $ 53,083 $ 55,601 $ 159,064 $ 162,894 Net earnings $ 10,097 $ 22,380 $ 55,717 $ 60,874 Total: Revenues $ 458,561 $ 525,671 $ 1,364,449 $ 1,509,774 Net operating income $ 358,008 $ 408,027 $ 1,055,385 $ 1,159,650 Net earnings $ 94,162 $ 85,450 $ 302,270 $ 244,665 (1) The difference between our ownership interest of a 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 a venture ($411.2 million and $322.9 million at September 30, 2015, and December 31, 2014, respectively); (ii) recording additional costs associated with our investment in a venture; and (iii) advances to a venture. (2) Represents our weighted average ownership interest in all co-investment ventures based on each entity’s contribution of total assets, before depreciation, net of other liabilities. (3) At September 30, 2015, and December 31, 2014, we had receivables from Nippon Prologis REIT, Inc. (“NPR”) of $86.2 million and $85.9 million, respectively, related to customer security deposits that were 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 table summarizes 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Earnings from unconsolidated co-investment ventures, net: Americas $ 10,558 $ 8,863 $ 25,116 $ 8 Europe 20,871 14,653 69,685 66,890 Asia 1,188 3,678 8,903 10,181 Total earnings from unconsolidated co-investment ventures, net $ 32,617 $ 27,194 $ 103,704 $ 77,079 Strategic capital and other income: Americas $ 14,098 $ 18,449 $ 45,073 $ 80,004 Europe 20,652 24,713 60,046 65,866 Asia 8,760 10,603 26,165 28,810 Total strategic capital income 43,510 53,765 131,284 174,680 Development management income 1,847 1,678 5,033 3,259 Total strategic capital and other income $ 45,357 $ 55,443 $ 136,317 $ 177,939 In June 2014, we earned a promote fee from Prologis Targeted U.S. Logistics Fund of $42.1 million, which was based on the venture’s cumulative returns to the investors over the prior three-year period ended June 30, 2014. Of that amount, $31.3 million represented the third party investors’ portion and is reflected in Strategic Capital Income Strategic Capital Expenses Equity Commitments Related to Certain Unconsolidated Co-Investment Ventures The following table summarizes the remaining equity commitments at September 30, 2015 (in millions): Equity Commitments Expiration Date for Remaining Commitments Prologis Venture Partners Total Prologis Targeted U.S. Logistics Fund $ - $ 277 $ 277 2015 – 2016 Prologis Targeted Europe Logistics Fund (1) - 411 411 2015 – 2017 Prologis European Properties Fund II (1) 15 78 93 2015 – 2016 Prologis European Logistics Partners Sàrl (2) 52 52 104 February 2016 Prologis China Logistics Venture 214 1,214 1,428 2015 and 2017 Totals $ 281 $ 2,032 $ 2,313 (1) Equity commitments are denominated in euro and reported 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 in U.S. dollars using an exchange rate of $1.52 U.S. dollars to British pounds sterling.

Assets Held for Sale

Assets Held for Sale	9 Months Ended
	Sep. 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 September 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): September 30, 2015 December 31, 2014 Number of operating properties 19 7 Square feet 5,538 457 Total assets held for sale (1) $ 369,382 $ 43,934 Total liabilities associated with assets held for sale – included in Other Liabilities $ 7,230 $ - (1) Includes two parcels of land held for sale at September 30, 2015.

Note Receivable Backed by Real

Note Receivable Backed by Real Estate	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	Note All debt is incurred by the Operating Partnership. The Parent does not have any indebtedness, but guarantees the unsecured debt of the Operating Partnership. The following table summarizes our debt (dollars in thousands): September 30, 2015 December 31, 2014 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding Credit facilities 1.2 % $ 207,978 - $ - Senior notes 3.3 % 6,622,440 3.6 % 6,076,920 Exchangeable senior notes - - 3.3 % 456,766 Term loans 1.4 % 2,442,848 1.3 % 572,730 Other debt 6.2 % 15,648 6.2 % 16,086 Secured mortgage debt 6.4 % 785,480 6.1 % 1,050,591 Secured mortgage debt of consolidated entities 2.7 % 1,859,961 2.5 % 1,207,106 Totals 3.0 % $ 11,934,355 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 September 30, 2015, subject to currency fluctuations. We also have a ¥45 billion ($374.3 million at September 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.” The following table summarizes information about our Credit Facilities at September 30, 2015 (in millions): Aggregate lender commitments $ 2,682 Less: Borrowings outstanding 208 Outstanding letters of credit 31 Current availability $ 2,443 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 a portion of our share of the purchase price of KTR. On October 27 2015, we issued $750.0 million in principal amount of senior notes with an interest rate of 3.750% maturing in November 2025. We intend to use a portion of the net proceeds to repurchase all of the outstanding principal amount ($300.0 million) of our 4.5% senior unsecured notes due in 2017. In connection with the offering, we commenced a tender offer through which we may utilize a portion of the net proceeds to repurchase a portion of our senior notes that mature in 2019 and 2020 for an aggregate purchase price up to approximately $200 million including premiums and accrued interest. The tender offer is expected to expire on November 24, 2015. We also intend to use a portion of the net proceeds for other corporate purposes, including other debt repayment or repurchases. 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 May 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). In connection with the KTR acquisition, we borrowed $ 1.0 billion, causing the Senior Term Loan to be fully drawn at September 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 ($540.6 million at September 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. In connection with the KTR acquisition, we borrowed ¥65.0 billion ($540.6 million), causing the 2015 Yen Term Loan to be fully drawn at September 30, 2015. We also have 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 subsequently borrowed $561.9 million, causing the Euro Term Loan to be fully drawn at September 30, 2015. We also have 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 ($340.3 million at September 30, 2015) that is scheduled to mature in 2021. The 2014 Yen Term Loan was fully drawn at September 30, 2015 and December 31, 2014. 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 interest rates ranging from 1.8% to 6.8% (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 on this transaction. 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 September 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) $ - $ - $ - $ 15 $ 15 $ 3 $ 18 2016 (1) (2) - - 1,001 199 1,200 455 1,655 2017 (3) 197 377 563 6 1,143 516 1,659 2018 11 262 1 112 386 403 789 2019 - 693 1 285 979 143 1,122 2020 - 1,040 1 6 1,047 252 1,299 2021 - 1,284 341 11 1,636 1 1,637 2022 - 784 542 7 1,333 1 1,334 2023 - 850 1 7 858 1 859 2024 - 784 1 129 914 1 915 Thereafter - 560 7 - 567 3 570 Subtotal 208 6,634 2,459 777 10,078 1,779 11,857 Unamortized premiums (discounts), net - (12 ) - 8 (4 ) 81 77 Totals $ 208 $ 6,622 $ 2,459 $ 785 $ 10,074 $ 1,860 $ 11,934 (1) We expect to repay the amounts maturing in 2015 and 2016 related to our wholly owned debt with cash generated from operations, proceeds from the disposition of wholly owned real estate properties, or as necessary, 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 September 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	9 Months Ended
	Sep. 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 $71.6 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 During the second quarter of 2015, we issued 4.5 million common limited partnership units in the Operating Partnership in connection with the KTR acquisition.

Noncontrolling Interests

Noncontrolling Interests	9 Months Ended
	Sep. 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 interests of the Parent include 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 table summarizes our noncontrolling interests and the consolidated entity’s total investment in real estate and debt at September 30, 2015, and December 31, 2014 (dollars and shares/units in thousands): Our Ownership Percentage Noncontrolling Interests Total Investment in Real Estate Debt 2015 2014 2015 2014 2015 2014 2015 2014 Prologis U.S. Logistics Venture (1) 55.0 % 55.0 % 2,697,369 427,307 6,508,973 1,006,183 729,232 - Prologis North American Industrial Fund 66.1 % 66.1 % 523,817 544,718 2,616,676 2,771,299 1,114,579 1,188,836 Prologis Brazil Logistics Partners Fund I (2) 50.0 % 50.0 % 47,245 68,533 - - - - Other consolidated entities (3) various various 102,994 119,343 1,006,607 1,018,996 16,150 18,270 Prologis, L.P. noncontrolling interests 3,371,425 1,159,901 10,132,256 4,796,478 1,859,961 1,207,106 Limited partners in Prologis, L.P. (4) (5) 181,976 48,189 - - - - Prologis, Inc. noncontrolling interests $ 3,553,401 $ 1,208,090 $ 10,132,256 $ 4,796,478 $ 1,859,961 $ 1,207,106 (1 ) 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. (2 ) The assets of Prologis Brazil Logistics Partners Fund I (“Brazil Fund”) are primarily investments in unconsolidated entities of $101.0 million and $152.0 million at September 30, 2015, and December 31, 2014, respectively. For additional information on our unconsolidated investments, see Note 4. (3) This line item includes our two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. At September 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. (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 September 30, 2015, and December 31, 2014, limited partnership units in the Operating Partnership were exchangeable into cash or, at our option, 6,554 and 1,767 shares, respectively, of the Parent’s common stock with a fair value of $255.0 million and $76.0 million, respectively, based on the closing stock price of the Parent’s common stock. At September 30, 2015, and December 31, 2014, there were 941 and 113 unvested 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.

Long-Term Compensation

Long-Term Compensation	9 Months Ended
	Sep. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Long-Term Compensation	Note 10. Long-Term Compensation At September 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. 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 September 30, 2015, we also have OPP points outstanding for the 2013 – 2015 and 2014 – 2016 performance periods under the OPP. Restricted Stock Units The following table summarizes the activity for RSUs for the nine months ended September 30, 2015 (units 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 689 Vested and distributed (1,029 ) Forfeited (550 ) Balance at September 30, 2015 1,631 $ 42.23 108 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 following table summarizes the activity for LTIP Units for the nine months ended September 30, 2015 (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 September 30, 2015 1,244 $ 42.21 303 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 September 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 4.8 million stock options outstanding and exercisable at September 30, 2015, with a weighted average exercise price of $34.96. No stock options were granted in 2015 or 2014.

Earnings Per Common Share _ Uni

Earnings Per Common Share / Unit	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, Prologis, Inc. 2015 2014 2015 2014 Net earnings attributable to common stockholders $ 258,979 $ 136,245 $ 744,425 $ 213,626 Noncontrolling interests attributable to exchangeable limited partnership units 3,203 493 7,331 767 Gains, net of expenses, associated with exchangeable debt assumed exchanged - (18,658 ) (1,614 ) - Adjusted net earnings attributable to common stockholders $ 262,182 $ 118,080 $ 750,142 $ 214,393 Weighted average common shares outstanding – Basic (1) 523,528 499,292 520,388 499,045 Incremental weighted average effect on exchange of limited partnership units (2) 6,685 1,843 5,875 1,792 Incremental weighted average effect of equity awards and warrant 1,860 3,074 1,953 3,374 Incremental weighted average effect on exchange of exchangeable debt (3) - 11,879 2,905 - Weighted average common shares outstanding – Diluted (4) 532,073 516,088 531,121 504,211 Net earnings per share attributable to common stockholders: Basic $ 0.49 $ 0.27 $ 1.43 $ 0.43 Diluted $ 0.49 $ 0.23 $ 1.41 $ 0.43 Three Months Ended Nine Months Ended September 30, September 30, Prologis, L.P. 2015 2014 2015 2014 Net earnings attributable to common unitholders $ 262,155 $ 136,738 $ 750,181 $ 214,393 Noncontrolling interests attributable to exchangeable limited partnership units 27 - 1,575 - Gains, net of expenses, associated with exchangeable debt assumed exchanged - (18,658 ) (1,614 ) - Adjusted net earnings attributable to common unitholders $ 262,182 $ 118,080 $ 750,142 $ 214,393 Weighted average common partnership units outstanding – Basic (1) 530,044 501,135 524,411 500,837 Incremental weighted average effect on exchange of limited partnership units 169 - 1,852 - Incremental weighted average effect of equity awards and warrant of Prologis, Inc. 1,860 3,074 1,953 3,374 Incremental weighted average effect on exchange of exchangeable debt (3) - 11,879 2,905 - Weighted average common partnership units outstanding – Diluted (4) 532,073 516,088 531,121 504,211 Net earnings per unit attributable to common unitholders: Basic $ 0.49 $ 0.27 $ 1.43 $ 0.43 Diluted $ 0.49 $ 0.23 $ 1.41 $ 0.43 (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 6,516 and 1,843 for the three months ended September 30, 2015, and 2014, respectively, and 4,023 and 1,792 for the nine months ended September 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 Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Total potentially dilutive stock awards and warrant 7,359 14,170 7,392 14,903 Total weighted average potentially dilutive shares/units from exchangeable debt - 11,879 2,905 11,879 Total weighted average effect on exchange of potentially dilutive limited partnership units 1,835 1,944 1,852 1,947

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	9 Months Ended
	Sep. 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 also use foreign currency forwards to mitigate foreign currency exchange rate risk associated with payments in a currency that is not the functional currency of our foreign subsidiaries, primarily in Mexico. These may be designated as cash flow hedges. To the extent we have an effective hedging relationship, we report all changes in fair value of the hedged portion of the foreign currency forwards cash flow hedges in AOCI. 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. We may also enter into forward interest rate swap agreements to effectively fix the interest rate of future expected debt issuances. AOCI Interest Expense Interest Expense The following tables summarize the activity in our derivative instruments for the nine months ended September 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 Interest Rate Contracts EUR GBP JPY EUR (1) GBP (1) (2) JPY (1) CAD (1) MXN JPY Notional amounts at January 1 € 300 £ 238 ¥ 24,136 € 284 £ - ¥ - $ - $ - ¥ 40,916 New contracts (3) - 118 43,373 268 179 18,740 69 140 65,000 Matured or expired contracts (300 ) (118 ) (67,509 ) (292 ) (70 ) (4,400 ) (14 ) (42 ) - Notional amounts at September 30, € - £ 238 ¥ - € 260 £ 109 ¥ 14,340 $ 55 $ 98 ¥ 105,916 Foreign Currency Contracts U.S. Dollar Net Investment Forward Contracts Forward and Option Contracts Interest Rate Contracts Notional amounts at January 1 $ 400 $ 400 $ 250 $ 354 $ - $ - $ - $ - $ 398 New contracts (3) (4) - 186 353 303 269 159 55 8 886 Matured or expired contracts (400 ) (200 ) (603 ) (358 ) (104 ) (38 ) (11 ) (2 ) - Notional amounts at September 30, $ - $ 386 $ - $ 299 $ 165 $ 121 $ 44 $ 6 $ 1,284 Weighted average forward rate at September 30, - 1.62 - 1.15 1.31 118.12 1.26 17.03 115.47 Active contracts at September 30, - 3 - 20 15 18 9 11 6 2014 Foreign Currency Contracts Local Currency Net Investment Forward Contracts Forward and Option Contracts (1) Interest Rate Swaps EUR GBP JPY EUR JPY Notional amounts at January 1 € 600 £ - ¥ 24,136 € - ¥ - New contracts 1,446 238 79,010 141 40,916 Matured or expired contracts (1,446 ) - (79,010 ) (66 ) - Notional amounts at September 30, € 600 £ 238 ¥ 24,136 € 75 ¥ 40,916 Foreign Currency Contracts U.S. Dollar Net Investment Forward Contracts Forward and Option Contracts (1) Interest Rate Swaps Notional amounts at January 1 $ 800 $ - $ 250 $ - $ 71 New contracts 1,979 400 769 187 373 Matured or expired contracts (1,979 ) - (769 ) (90 ) - Notional amounts at September 30, $ 800 $ 400 $ 250 $ 97 $ 444 (1) During the nine months ended September 30, 2015 and 2014, we exercised 23 and 2 option contracts and realized gains of $9.6 million and $1.1 million, respectively, in Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net. (2) Included in our British pounds sterling denominated option contracts are four forward contracts to sell British pounds sterling and buy euros. These forwards have a notional amount of £23.0 million (€30.8 million) and were reported in this table using a weighted average exchange rate of $1.10 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. These contracts were designated as interest rate swap hedges. See Note 7 for more information on the 2015 Yen Term Loan. (4 ) In the third quarter of 2015, we entered into two contracts with a notional amount of $360.0 million to effectively fix the interest rate at the three month LIBOR rate of 2.3% on expected future debt issuances. These contracts were designated as interest rate forward hedges. The following table presents the fair value of our derivative instruments (in thousands): September 30, 2015 December 31, 2014 Asset Liability Asset Liability Net investment hedges – euro denominated (1) $ - $ - $ 22,891 $ - Net investment hedges – pound sterling denominated 25,829 - 29,097 - Net investment hedges – yen denominated (1) - - 46,934 - Cash flow hedge foreign currency options – peso denominated - 74 - - Foreign currency options – Canadian dollar denominated (2) 2,269 - - - Foreign currency options – euro denominated (2) 10,304 1,282 7,742 - Foreign currency options – pound sterling denominated (2) 1,373 1,316 - - Foreign currency options – yen denominated (2) 1,025 791 - - Interest rate hedges - 16,878 - 1,395 Total fair value of derivatives $ 40,800 $ 20,341 $ 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, these foreign currency options are not designated as hedges. We recognized gains of $2.7 million and $12.2 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 Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Derivative net investment hedges (1) $ 14,225 $ 93,502 $ 48,419 $ 70,393 Interest rate hedges (2) (14,680 ) (39 ) (15,439 ) (229 ) Cash flow hedges (74 ) - (74 ) - Our share of derivatives from unconsolidated co-investment ventures (906 ) (4,474 ) 3,200 (7,555 ) Total gain (loss) on derivative instruments (1,435 ) 88,989 36,106 62,609 Nonderivative net investment hedges (3) (4,674 ) 204,250 218,729 214,570 Total gain (loss) on derivative and nonderivative hedging instruments $ (6,109 ) $ 293,239 $ 254,835 $ 277,179 (1) We received $121.5 million for the nine months ended September 30, 2015, upon the settlement of net investment hedges. We did not settle any net investment hedges during the three months ended September 30, 2015. For the three and nine months ended September 30, 2014, we received $5.9 million and paid $5.5 million, respectively, upon the settlement of net investment hedges. (2) The amounts reclassified to interest expense for the three and nine months ended September 30, 2015, and 2014, respectively, were not considered significant. For the next 12 months from September 30, 2015, we estimate an additional expense for $7.6 million will be reclassified to Interest Expense (3) At September 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 nonderivative 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 nonderivative financial instrument hedge at December 31, 2014. We recognized 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 September 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 September 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 September 30, 2015, or December 31, 2014. Fair Value of Financial Instruments At September 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 September 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 September 30, 2015, and December 31, 2014, as compared with those in effect when the debt was issued or assumed, 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): September 30, 2015 December 31, 2014 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 207,978 $ 208,029 $ - $ - Senior notes 6,622,440 6,884,123 6,076,920 6,593,657 Exchangeable senior notes - - 456,766 511,931 Term loans and other debt 2,458,496 2,460,662 588,816 591,810 Secured mortgage debt 785,480 886,632 1,050,591 1,173,488 Secured mortgage debt of consolidated entities 1,859,961 1,870,774 1,207,106 1,209,271 Total debt $ 11,934,355 $ 12,310,220 $ 9,380,199 $ 10,080,157 In connection with the KTR acquisition, the secured mortgage debt of consolidated entities assumed was recorded at fair value. See Notes 2 and 7 for additional information on the KTR acquisition.

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Business Segments	Note Our current business strategy consists of 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, redevelop 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 Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Revenues: Real estate operations: Americas $ 503,487 $ 324,877 $ 1,326,446 $ 1,025,349 Europe 17,591 20,422 53,041 57,083 Asia 15,368 15,782 41,139 51,776 Total Real Estate Operations segment 536,446 361,081 1,420,626 1,134,208 Strategic capital: Americas 14,692 18,567 46,734 80,457 Europe 20,652 24,713 60,046 65,866 Asia 8,832 10,790 26,467 29,391 Total Strategic Capital segment 44,176 54,070 133,247 175,714 Total revenues $ 580,622 $ 415,151 $ 1,553,873 $ 1,309,922 Net operating income: Real estate operations: Americas $ 365,723 $ 230,515 $ 923,118 $ 727,245 Europe 11,092 12,072 32,173 31,706 Asia 10,961 11,302 28,430 37,469 Total Real Estate Operations segment 387,776 253,889 983,721 796,420 Strategic capital: Americas 2,966 6,451 15,091 38,599 Europe 14,285 17,791 40,576 43,600 Asia 5,211 7,386 15,390 19,073 Total Strategic Capital segment 22,462 31,628 71,057 101,272 Total segment net operating income 410,238 285,517 1,054,778 897,692 Reconciling items: General and administrative expenses (59,375 ) (58,203 ) (172,690 ) (181,781 ) Depreciation and amortization (247,471 ) (149,202 ) (607,467 ) (471,059 ) Earnings from unconsolidated entities, net 33,557 28,514 106,383 79,411 Interest expense (81,035 ) (69,086 ) (218,698 ) (234,793 ) Interest and other income, net 6,237 550 19,133 19,716 Gains on dispositions of investments in real estate, net 268,791 151,057 655,288 337,695 Foreign currency and derivative gains (losses) and related amortization, net (9,428 ) 20,792 (374 ) 2,738 Losses on early extinguishment of debt, net - (86,076 ) (16,525 ) (163,361 ) Total reconciling items (88,724 ) (161,654 ) (234,950 ) (611,434 ) Earnings before income taxes $ 321,514 $ 123,863 $ 819,828 $ 286,258 September 30, December 31, 2015 2014 Assets: Real estate operations: Americas $ 22,986,722 $ 17,432,909 Europe 1,286,275 1,820,529 Asia 1,075,751 926,645 Total Real Estate Operations segment 25,348,748 20,180,083 Strategic capital: Americas 19,681 20,635 Europe 51,085 54,577 Asia 2,173 2,718 Total Strategic Capital segment 72,939 77,930 Total segment assets 25,421,687 20,258,013 Reconciling items: Investments in and advances to unconsolidated entities 4,841,225 4,824,724 Assets held for sale 369,382 43,934 Note receivable backed by real estate 197,500 - Cash and cash equivalents 310,433 350,692 Other assets 279,127 340,860 Total reconciling items 5,997,667 5,560,210 Total assets $ 31,419,354 $ 25,818,223

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 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 nine months ended September 30, 2015, and 2014 included the following: · See Notes 2, 7 and 9 for information related to the KTR acquisition in May 2015. · During 2015, we received $65.3 million of ownership interests in certain unconsolidated entities 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 $17.1 million and $16.1 million in 2015 and 2014, 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 $273.3 million and $222.1 million of interest in cash, net of amounts capitalized, for the nine months ended September 30, 2015, and 2014, respectively. We paid $17.0 million and $93.9 million for income taxes, net of refunds, for the nine months ended September 30, 2015, and 2014, respectively.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 15. Subsequent Events On October 9, 2015, we completed the acquisition of a portfolio of properties from Morris Realty Associates LLC and certain of its affiliates for an aggregate of approximately $820 million. The portfolio consisted of industrial properties aggregating 3.2 million square feet and retail properties aggregating 2.2 million square feet. The acquisition was funded through the assumption of debt and the issuance of a combination of common limited partnership units in the Operating Partnership and a new class of common limited partnership units in the Operating Partnership designated as Class A convertible common units. The number of units issued was based upon an agreed upon price of $43.11 per unit. The retail properties acquired in the transaction are subject to a Purchase and Sale Agreement with affiliates of Blackstone Real Estate Advisors, L.P., pursuant to which the retail properties are expected to be sold for aggregate consideration of approximately $374 million, including the assumption of debt and subject to certain adjustments. The transaction is expected to be completed in the fourth quarter of 2015.

General (Policies)

General (Policies)	9 Months Ended
	Sep. 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 our annual financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations. Our management believes that the disclosures presented in these financial statements are adequate to make the information presented not misleading. In our opinion, all adjustments and eliminations, consisting only of normal recurring adjustments, necessary to present fairly the financial position and results of operations for both the Parent and the 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 September 2015, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update that amends the retroactive requirement to apply adjustments made to provisional amounts recognized in a business combination. The update requires that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. We early adopted this standard for business combinations with open measurement periods for which the accounting is not finalized as of September 30, 2015. The adoption of this standard did not have a material impact on the Consolidated Financial Statements. In April 2015, 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 September 30, 2015, we had $50.8 million of debt issuance costs in Other Assets 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 annual reporting periods beginning after December 15, 2017. 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)	9 Months Ended
	Sep. 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 nine months ended September 30, 2015, include approximately four months of actual results for the acquisition, including the acquisition expenses, and five months of pro forma adjustments. Actual results in 2015 include rental income and rental expenses of the properties acquired of $132.7 million and $30.0 million, respectively, representing the period from acquisition through September 30, 2015. The following amounts are in thousands, except per share amounts: Three Months Ended September 30, Nine Months Ended September 30, 2014 2015 2014 Total revenues $ 491,203 $ 1,715,540 $ 1,538,073 Net earnings attributable to common stockholders $ 133,568 $ 756,302 $ 207,329 Net earnings per share attributable to common stockholders – Basic $ 0.27 $ 1.45 $ 0.42 Net earnings per share attributable to common stockholders – Diluted $ 0.22 $ 1.43 $ 0.41
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 $ 5,428,422 Cash, accounts receivable and other assets 378,159 Debt, including premium (735,172 ) Accounts payable, accrued expenses and other liabilities (80,740 ) 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 was as follows (in thousands): Investments in real estate properties $ 2,639,481 Cash, accounts receivable and other assets 262,971 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)	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
Investments in Real Estate Properties	Investments in real estate properties consisted of the following (dollars and square feet in thousands): Square Feet/Acres (1) Number of Buildings (1) September 30, December 31, September 30, December 31, September 30, December 31, 2015 2014 2015 2014 2015 2014 Industrial operating properties: Improved land - - - - - - - - $ 5,724,586 $ 4,227,637 Buildings and improvements 342,762 282,282 1,909 1,607 17,774,600 14,407,815 Development portfolio, including land costs: Prestabilized 7,321 7,448 24 24 558,208 547,982 Properties under development 22,310 22,844 50 55 1,017,181 925,998 Land 8,500 9,017 - - - - 1,569,416 1,577,786 Other real estate investments (2) 625,367 502,927 Total investments in real estate properties 27,269,358 22,190,145 Less accumulated depreciation 3,156,445 2,790,781 Net investments in real estate properties $ 24,112,913 $ 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) land parcels that are ground leased to third parties; (iii) our corporate office buildings; (iv) earnest money deposits associated with potential acquisitions; (v) certain infrastructure costs related to projects we are developing on behalf of others and (vi) costs related to future development projects, including purchase options on land.
Summary of Properties Acquired	The following table summarizes our real estate acquisition activity for the nine months ended September 30 (dollars and square feet in thousands): 2015 (1) 2014 Acquisitions of operating properties from third parties Number of industrial operating properties 27 8 Square feet 3,651 1,004 Real estate acquisition value $ 305,519 $ 78,314
Summary of Properties Disposed	The following table summarizes our real estate disposition activity for the nine months ended September 30 (dollars and square feet in thousands): 2015 2014 Contributions to unconsolidated co-investment ventures Number of properties 23 115 Square feet 6,659 22,806 Net proceeds (1) $ 662,645 $ 1,627,424 Net gains on contributions (1) $ 111,307 $ 156,746 Dispositions to third parties Number of properties 75 106 Square feet 12,723 14,663 Net proceeds (1) $ 1,347,755 $ 955,240 Net gains on dispositions (1) $ 543,981 $ 180,949 (1) Includes land sales.

Unconsolidated Entities (Tables

Unconsolidated Entities (Tables)	9 Months Ended
	Sep. 30, 2015
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in and Advances Unconsolidated Entities	The following table summarizes our investments in and advances to our unconsolidated entities (in thousands): September 30, December 31, 2015 2014 Unconsolidated co-investment ventures $ 4,631,329 $ 4,665,918 Other ventures 209,896 158,806 Totals $ 4,841,225 $ 4,824,724
Earnings on Investment in Co-Investment Ventures	The following table summarizes 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Earnings from unconsolidated co-investment ventures, net: Americas $ 10,558 $ 8,863 $ 25,116 $ 8 Europe 20,871 14,653 69,685 66,890 Asia 1,188 3,678 8,903 10,181 Total earnings from unconsolidated co-investment ventures, net $ 32,617 $ 27,194 $ 103,704 $ 77,079 Strategic capital and other income: Americas $ 14,098 $ 18,449 $ 45,073 $ 80,004 Europe 20,652 24,713 60,046 65,866 Asia 8,760 10,603 26,165 28,810 Total strategic capital income 43,510 53,765 131,284 174,680 Development management income 1,847 1,678 5,033 3,259 Total strategic capital and other income $ 45,357 $ 55,443 $ 136,317 $ 177,939
Summary of Remaining Equity Commitments	The following table summarizes the remaining equity commitments at September 30, 2015 (in millions): Equity Commitments Expiration Date for Remaining Commitments Prologis Venture Partners Total Prologis Targeted U.S. Logistics Fund $ - $ 277 $ 277 2015 – 2016 Prologis Targeted Europe Logistics Fund (1) - 411 411 2015 – 2017 Prologis European Properties Fund II (1) 15 78 93 2015 – 2016 Prologis European Logistics Partners Sàrl (2) 52 52 104 February 2016 Prologis China Logistics Venture 214 1,214 1,428 2015 and 2017 Totals $ 281 $ 2,032 $ 2,313 (1) Equity commitments are denominated in euro and reported 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 in U.S. dollars using an exchange rate of $1.52 U.S. dollars to 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: September 30, December 31, September 30, (dollars and square feet in millions) 2015 2014 2014 Americas: Number of ventures 3 3 4 Number of properties owned 602 590 814 Square feet 89.2 87.1 130.5 Total assets $ 6,870 $ 7,063 $ 9,396 Third-party debt $ 2,025 $ 2,280 $ 3,309 Total liabilities $ 2,166 $ 2,421 $ 3,513 Our investment balance (1) $ 1,480 $ 1,537 $ 2,371 Our weighted average ownership (2) 29.7 % 31.0 % 40.2 % Europe: Number of ventures 4 4 4 Number of properties owned 683 636 629 Square feet 158.5 147.4 145.3 Total assets $ 11,734 $ 11,463 $ 11,952 Third-party debt $ 2,786 $ 2,644 $ 2,798 Total liabilities $ 3,766 $ 3,524 $ 3,823 Our investment balance (1) $ 2,796 $ 2,773 $ 2,894 Our weighted average ownership (2) 39.5 % 38.8 % 38.8 % Asia: Number of ventures 2 2 2 Number of properties owned 57 52 51 Square feet 27.3 26.2 26.0 Total assets $ 4,248 $ 4,135 $ 4,366 Third-party debt $ 1,747 $ 1,652 $ 1,758 Total liabilities $ 1,969 $ 1,749 $ 1,955 Our investment balance (1) (3) $ 355 $ 356 $ 376 Our weighted average ownership (2) 15.0 % 15.0 % 15.0 % Total: Number of ventures 9 9 10 Number of properties owned 1,342 1,278 1,494 Square feet 275.0 260.7 301.8 Total assets $ 22,852 $ 22,661 $ 25,714 Third-party debt $ 6,558 $ 6,576 $ 7,865 Total liabilities $ 7,901 $ 7,694 $ 9,291 Our investment balance (1) $ 4,631 $ 4,666 $ 5,641 Our weighted average ownership (2) 32.1 % 32.0 % 35.4 % Three Months Ended September 30, Nine Months Ended September 30, (in thousands) 2015 2014 2015 2014 Americas (4): Revenues $ 152,196 $ 204,225 $ 457,048 $ 551,153 Net operating income $ 118,146 $ 154,415 $ 347,616 $ 405,900 Net earnings $ 33,561 $ 24,362 $ 77,606 $ 16,792 Europe: Revenues $ 237,914 $ 250,477 $ 702,772 $ 749,433 Net operating income $ 186,779 $ 198,011 $ 548,705 $ 590,856 Net earnings $ 50,504 $ 38,708 $ 168,947 $ 166,999 Asia: Revenues $ 68,451 $ 70,969 $ 204,629 $ 209,188 Net operating income $ 53,083 $ 55,601 $ 159,064 $ 162,894 Net earnings $ 10,097 $ 22,380 $ 55,717 $ 60,874 Total: Revenues $ 458,561 $ 525,671 $ 1,364,449 $ 1,509,774 Net operating income $ 358,008 $ 408,027 $ 1,055,385 $ 1,159,650 Net earnings $ 94,162 $ 85,450 $ 302,270 $ 244,665 (1) The difference between our ownership interest of a 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 a venture ($411.2 million and $322.9 million at September 30, 2015, and December 31, 2014, respectively); (ii) recording additional costs associated with our investment in a venture; and (iii) advances to a venture. (2) Represents our weighted average ownership interest in all co-investment ventures based on each entity’s contribution of total assets, before depreciation, net of other liabilities. (3) At September 30, 2015, and December 31, 2014, we had receivables from Nippon Prologis REIT, Inc. (“NPR”) of $86.2 million and $85.9 million, respectively, related to customer security deposits that were 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)	9 Months Ended
	Sep. 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): September 30, 2015 December 31, 2014 Number of operating properties 19 7 Square feet 5,538 457 Total assets held for sale (1) $ 369,382 $ 43,934 Total liabilities associated with assets held for sale – included in Other Liabilities $ 7,230 $ - (1) Includes two parcels of land held for sale at September 30, 2015.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt Summary	The following table summarizes our debt (dollars in thousands): September 30, 2015 December 31, 2014 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding Credit facilities 1.2 % $ 207,978 - $ - Senior notes 3.3 % 6,622,440 3.6 % 6,076,920 Exchangeable senior notes - - 3.3 % 456,766 Term loans 1.4 % 2,442,848 1.3 % 572,730 Other debt 6.2 % 15,648 6.2 % 16,086 Secured mortgage debt 6.4 % 785,480 6.1 % 1,050,591 Secured mortgage debt of consolidated entities 2.7 % 1,859,961 2.5 % 1,207,106 Totals 3.0 % $ 11,934,355 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	The following table summarizes information about our Credit Facilities at September 30, 2015 (in millions): Aggregate lender commitments $ 2,682 Less: Borrowings outstanding 208 Outstanding letters of credit 31 Current availability $ 2,443
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 September 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) $ - $ - $ - $ 15 $ 15 $ 3 $ 18 2016 (1) (2) - - 1,001 199 1,200 455 1,655 2017 (3) 197 377 563 6 1,143 516 1,659 2018 11 262 1 112 386 403 789 2019 - 693 1 285 979 143 1,122 2020 - 1,040 1 6 1,047 252 1,299 2021 - 1,284 341 11 1,636 1 1,637 2022 - 784 542 7 1,333 1 1,334 2023 - 850 1 7 858 1 859 2024 - 784 1 129 914 1 915 Thereafter - 560 7 - 567 3 570 Subtotal 208 6,634 2,459 777 10,078 1,779 11,857 Unamortized premiums (discounts), net - (12 ) - 8 (4 ) 81 77 Totals $ 208 $ 6,622 $ 2,459 $ 785 $ 10,074 $ 1,860 $ 11,934 (1) We expect to repay the amounts maturing in 2015 and 2016 related to our wholly owned debt with cash generated from operations, proceeds from the disposition of wholly owned real estate properties, or as necessary, 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)	9 Months Ended
	Sep. 30, 2015
Noncontrolling Interest [Abstract]
Noncontrolling Interests Summary	The following table summarizes our noncontrolling interests and the consolidated entity’s total investment in real estate and debt at September 30, 2015, and December 31, 2014 (dollars and shares/units in thousands): Our Ownership Percentage Noncontrolling Interests Total Investment in Real Estate Debt 2015 2014 2015 2014 2015 2014 2015 2014 Prologis U.S. Logistics Venture (1) 55.0 % 55.0 % 2,697,369 427,307 6,508,973 1,006,183 729,232 - Prologis North American Industrial Fund 66.1 % 66.1 % 523,817 544,718 2,616,676 2,771,299 1,114,579 1,188,836 Prologis Brazil Logistics Partners Fund I (2) 50.0 % 50.0 % 47,245 68,533 - - - - Other consolidated entities (3) various various 102,994 119,343 1,006,607 1,018,996 16,150 18,270 Prologis, L.P. noncontrolling interests 3,371,425 1,159,901 10,132,256 4,796,478 1,859,961 1,207,106 Limited partners in Prologis, L.P. (4) (5) 181,976 48,189 - - - - Prologis, Inc. noncontrolling interests $ 3,553,401 $ 1,208,090 $ 10,132,256 $ 4,796,478 $ 1,859,961 $ 1,207,106 (1 ) 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. (2 ) The assets of Prologis Brazil Logistics Partners Fund I (“Brazil Fund”) are primarily investments in unconsolidated entities of $101.0 million and $152.0 million at September 30, 2015, and December 31, 2014, respectively. For additional information on our unconsolidated investments, see Note 4. (3) This line item includes our two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. At September 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. (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 September 30, 2015, and December 31, 2014, limited partnership units in the Operating Partnership were exchangeable into cash or, at our option, 6,554 and 1,767 shares, respectively, of the Parent’s common stock with a fair value of $255.0 million and $76.0 million, respectively, based on the closing stock price of the Parent’s common stock. At September 30, 2015, and December 31, 2014, there were 941 and 113 unvested 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.

Long-Term Compensation (Tables)

Long-Term Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
RSU and PSA [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options, RSU and Performance Share Awards	The following table summarizes the activity for RSUs for the nine months ended September 30, 2015 (units 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 689 Vested and distributed (1,029 ) Forfeited (550 ) Balance at September 30, 2015 1,631 $ 42.23 108
Restricted Operating Partnership Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options, RSU and Performance Share Awards	The following table summarizes the activity for LTIP Units for the nine months ended September 30, 2015 (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 September 30, 2015 1,244 $ 42.21 303

Earnings Per Common Share _ U32

Earnings Per Common Share / Unit (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended September 30, September 30, Prologis, Inc. 2015 2014 2015 2014 Net earnings attributable to common stockholders $ 258,979 $ 136,245 $ 744,425 $ 213,626 Noncontrolling interests attributable to exchangeable limited partnership units 3,203 493 7,331 767 Gains, net of expenses, associated with exchangeable debt assumed exchanged - (18,658 ) (1,614 ) - Adjusted net earnings attributable to common stockholders $ 262,182 $ 118,080 $ 750,142 $ 214,393 Weighted average common shares outstanding – Basic (1) 523,528 499,292 520,388 499,045 Incremental weighted average effect on exchange of limited partnership units (2) 6,685 1,843 5,875 1,792 Incremental weighted average effect of equity awards and warrant 1,860 3,074 1,953 3,374 Incremental weighted average effect on exchange of exchangeable debt (3) - 11,879 2,905 - Weighted average common shares outstanding – Diluted (4) 532,073 516,088 531,121 504,211 Net earnings per share attributable to common stockholders: Basic $ 0.49 $ 0.27 $ 1.43 $ 0.43 Diluted $ 0.49 $ 0.23 $ 1.41 $ 0.43 Three Months Ended Nine Months Ended September 30, September 30, Prologis, L.P. 2015 2014 2015 2014 Net earnings attributable to common unitholders $ 262,155 $ 136,738 $ 750,181 $ 214,393 Noncontrolling interests attributable to exchangeable limited partnership units 27 - 1,575 - Gains, net of expenses, associated with exchangeable debt assumed exchanged - (18,658 ) (1,614 ) - Adjusted net earnings attributable to common unitholders $ 262,182 $ 118,080 $ 750,142 $ 214,393 Weighted average common partnership units outstanding – Basic (1) 530,044 501,135 524,411 500,837 Incremental weighted average effect on exchange of limited partnership units 169 - 1,852 - Incremental weighted average effect of equity awards and warrant of Prologis, Inc. 1,860 3,074 1,953 3,374 Incremental weighted average effect on exchange of exchangeable debt (3) - 11,879 2,905 - Weighted average common partnership units outstanding – Diluted (4) 532,073 516,088 531,121 504,211 Net earnings per unit attributable to common unitholders: Basic $ 0.49 $ 0.27 $ 1.43 $ 0.43 Diluted $ 0.49 $ 0.23 $ 1.41 $ 0.43 (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 6,516 and 1,843 for the three months ended September 30, 2015, and 2014, respectively, and 4,023 and 1,792 for the nine months ended September 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 Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Total potentially dilutive stock awards and warrant 7,359 14,170 7,392 14,903 Total weighted average potentially dilutive shares/units from exchangeable debt - 11,879 2,905 11,879 Total weighted average effect on exchange of potentially dilutive limited partnership units 1,835 1,944 1,852 1,947

Financial Instruments and Fai33

Financial Instruments and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Activity	The following tables summarize the activity in our derivative instruments for the nine months ended September 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 Interest Rate Contracts EUR GBP JPY EUR (1) GBP (1) (2) JPY (1) CAD (1) MXN JPY Notional amounts at January 1 € 300 £ 238 ¥ 24,136 € 284 £ - ¥ - $ - $ - ¥ 40,916 New contracts (3) - 118 43,373 268 179 18,740 69 140 65,000 Matured or expired contracts (300 ) (118 ) (67,509 ) (292 ) (70 ) (4,400 ) (14 ) (42 ) - Notional amounts at September 30, € - £ 238 ¥ - € 260 £ 109 ¥ 14,340 $ 55 $ 98 ¥ 105,916 Foreign Currency Contracts U.S. Dollar Net Investment Forward Contracts Forward and Option Contracts Interest Rate Contracts Notional amounts at January 1 $ 400 $ 400 $ 250 $ 354 $ - $ - $ - $ - $ 398 New contracts (3) (4) - 186 353 303 269 159 55 8 886 Matured or expired contracts (400 ) (200 ) (603 ) (358 ) (104 ) (38 ) (11 ) (2 ) - Notional amounts at September 30, $ - $ 386 $ - $ 299 $ 165 $ 121 $ 44 $ 6 $ 1,284 Weighted average forward rate at September 30, - 1.62 - 1.15 1.31 118.12 1.26 17.03 115.47 Active contracts at September 30, - 3 - 20 15 18 9 11 6 2014 Foreign Currency Contracts Local Currency Net Investment Forward Contracts Forward and Option Contracts (1) Interest Rate Swaps EUR GBP JPY EUR JPY Notional amounts at January 1 € 600 £ - ¥ 24,136 € - ¥ - New contracts 1,446 238 79,010 141 40,916 Matured or expired contracts (1,446 ) - (79,010 ) (66 ) - Notional amounts at September 30, € 600 £ 238 ¥ 24,136 € 75 ¥ 40,916 Foreign Currency Contracts U.S. Dollar Net Investment Forward Contracts Forward and Option Contracts (1) Interest Rate Swaps Notional amounts at January 1 $ 800 $ - $ 250 $ - $ 71 New contracts 1,979 400 769 187 373 Matured or expired contracts (1,979 ) - (769 ) (90 ) - Notional amounts at September 30, $ 800 $ 400 $ 250 $ 97 $ 444 (1) During the nine months ended September 30, 2015 and 2014, we exercised 23 and 2 option contracts and realized gains of $9.6 million and $1.1 million, respectively, in Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net Foreign Currency and Derivative Gains (Losses) and Related Amortization, Net. (2) Included in our British pounds sterling denominated option contracts are four forward contracts to sell British pounds sterling and buy euros. These forwards have a notional amount of £23.0 million (€30.8 million) and were reported in this table using a weighted average exchange rate of $1.10 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. These contracts were designated as interest rate swap hedges. See Note 7 for more information on the 2015 Yen Term Loan. (4 ) In the third quarter of 2015, we entered into two contracts with a notional amount of $360.0 million to effectively fix the interest rate at the three month LIBOR rate of 2.3% on expected future debt issuances. These contracts were designated as interest rate forward hedges.
Schedule of Fair Value of Derivative Instruments	The following table presents the fair value of our derivative instruments (in thousands): September 30, 2015 December 31, 2014 Asset Liability Asset Liability Net investment hedges – euro denominated (1) $ - $ - $ 22,891 $ - Net investment hedges – pound sterling denominated 25,829 - 29,097 - Net investment hedges – yen denominated (1) - - 46,934 - Cash flow hedge foreign currency options – peso denominated - 74 - - Foreign currency options – Canadian dollar denominated (2) 2,269 - - - Foreign currency options – euro denominated (2) 10,304 1,282 7,742 - Foreign currency options – pound sterling denominated (2) 1,373 1,316 - - Foreign currency options – yen denominated (2) 1,025 791 - - Interest rate hedges - 16,878 - 1,395 Total fair value of derivatives $ 40,800 $ 20,341 $ 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, these foreign currency options are not designated as hedges. We recognized gains of $2.7 million and $12.2 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 Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Derivative net investment hedges (1) $ 14,225 $ 93,502 $ 48,419 $ 70,393 Interest rate hedges (2) (14,680 ) (39 ) (15,439 ) (229 ) Cash flow hedges (74 ) - (74 ) - Our share of derivatives from unconsolidated co-investment ventures (906 ) (4,474 ) 3,200 (7,555 ) Total gain (loss) on derivative instruments (1,435 ) 88,989 36,106 62,609 Nonderivative net investment hedges (3) (4,674 ) 204,250 218,729 214,570 Total gain (loss) on derivative and nonderivative hedging instruments $ (6,109 ) $ 293,239 $ 254,835 $ 277,179 (1) We received $121.5 million for the nine months ended September 30, 2015, upon the settlement of net investment hedges. We did not settle any net investment hedges during the three months ended September 30, 2015. For the three and nine months ended September 30, 2014, we received $5.9 million and paid $5.5 million, respectively, upon the settlement of net investment hedges. (2) The amounts reclassified to interest expense for the three and nine months ended September 30, 2015, and 2014, respectively, were not considered significant. For the next 12 months from September 30, 2015, we estimate an additional expense for $7.6 million will be reclassified to Interest Expense (3) At September 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 nonderivative 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 nonderivative financial instrument hedge at December 31, 2014. We recognized 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): September 30, 2015 December 31, 2014 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 207,978 $ 208,029 $ - $ - Senior notes 6,622,440 6,884,123 6,076,920 6,593,657 Exchangeable senior notes - - 456,766 511,931 Term loans and other debt 2,458,496 2,460,662 588,816 591,810 Secured mortgage debt 785,480 886,632 1,050,591 1,173,488 Secured mortgage debt of consolidated entities 1,859,961 1,870,774 1,207,106 1,209,271 Total debt $ 11,934,355 $ 12,310,220 $ 9,380,199 $ 10,080,157

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Segment Reporting, Reconciliation of Revenues, Operating Income and Assets	The following reconciliations are presented in thousands: Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 Revenues: Real estate operations: Americas $ 503,487 $ 324,877 $ 1,326,446 $ 1,025,349 Europe 17,591 20,422 53,041 57,083 Asia 15,368 15,782 41,139 51,776 Total Real Estate Operations segment 536,446 361,081 1,420,626 1,134,208 Strategic capital: Americas 14,692 18,567 46,734 80,457 Europe 20,652 24,713 60,046 65,866 Asia 8,832 10,790 26,467 29,391 Total Strategic Capital segment 44,176 54,070 133,247 175,714 Total revenues $ 580,622 $ 415,151 $ 1,553,873 $ 1,309,922 Net operating income: Real estate operations: Americas $ 365,723 $ 230,515 $ 923,118 $ 727,245 Europe 11,092 12,072 32,173 31,706 Asia 10,961 11,302 28,430 37,469 Total Real Estate Operations segment 387,776 253,889 983,721 796,420 Strategic capital: Americas 2,966 6,451 15,091 38,599 Europe 14,285 17,791 40,576 43,600 Asia 5,211 7,386 15,390 19,073 Total Strategic Capital segment 22,462 31,628 71,057 101,272 Total segment net operating income 410,238 285,517 1,054,778 897,692 Reconciling items: General and administrative expenses (59,375 ) (58,203 ) (172,690 ) (181,781 ) Depreciation and amortization (247,471 ) (149,202 ) (607,467 ) (471,059 ) Earnings from unconsolidated entities, net 33,557 28,514 106,383 79,411 Interest expense (81,035 ) (69,086 ) (218,698 ) (234,793 ) Interest and other income, net 6,237 550 19,133 19,716 Gains on dispositions of investments in real estate, net 268,791 151,057 655,288 337,695 Foreign currency and derivative gains (losses) and related amortization, net (9,428 ) 20,792 (374 ) 2,738 Losses on early extinguishment of debt, net - (86,076 ) (16,525 ) (163,361 ) Total reconciling items (88,724 ) (161,654 ) (234,950 ) (611,434 ) Earnings before income taxes $ 321,514 $ 123,863 $ 819,828 $ 286,258 September 30, December 31, 2015 2014 Assets: Real estate operations: Americas $ 22,986,722 $ 17,432,909 Europe 1,286,275 1,820,529 Asia 1,075,751 926,645 Total Real Estate Operations segment 25,348,748 20,180,083 Strategic capital: Americas 19,681 20,635 Europe 51,085 54,577 Asia 2,173 2,718 Total Strategic Capital segment 72,939 77,930 Total segment assets 25,421,687 20,258,013 Reconciling items: Investments in and advances to unconsolidated entities 4,841,225 4,824,724 Assets held for sale 369,382 43,934 Note receivable backed by real estate 197,500 - Cash and cash equivalents 310,433 350,692 Other assets 279,127 340,860 Total reconciling items 5,997,667 5,560,210 Total assets $ 31,419,354 $ 25,818,223

General - Additional Informatio

General - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)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	$ 50.8
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 ($)	Sep. 30, 2015USD ($)ft²Propertyshares		Dec. 31, 2014USD ($)ft²Property		Sep. 30, 2015USD ($)ft²Property		Sep. 30, 2014USD ($)ft²Property
Business Acquisition [Line Items]
Number of buildings | Property					1,342		1,278		1,342		1,494
Square feet | ft²					275		260.7		275		301.8
Acquisition costs incurred				$ 24,700
Rental income of properties acquired									$ 132,700
Rental expenses of properties acquired									30,000
Equity method investment	[1]				$ 4,631,000		$ 4,666,000		$ 4,631,000		$ 5,641,000
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
Total purchase price		$ 4,990,669
Prologis North American Industrial Fund [Member]
Business Acquisition [Line Items]
Parent Company's Ownership Percentage Before Acquisition							23.10%
Parent Company's Ownership Percentage After Acquisition							66.10%
Equity method investment							$ 679,000
Total purchase price			$ 46,800				$ 1,100,000
Prologis US Logistics Venture [Member]
Business Acquisition [Line Items]
Parent Company's Ownership Percentage		55.00%			55.00%	[2]	55.00%	[2]	55.00%	[2]
Contribution received from venture partner					$ 2,300,000
Prologis US Logistics Venture [Member] | KTR Capital Partners and Affiliates [Member]
Business Acquisition [Line Items]
Number of buildings | Property		315
Square feet | ft²		59
Area of properties under development | ft²		3.6
Area of properties to support potential build out | ft²		6.8
Prologis US Logistics Venture [Member] | 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 a 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 a venture ($411.2 million and $322.9 million at September 30, 2015, and December 31, 2014, respectively); (ii) recording additional costs associated with our investment in a venture; and (iii) advances to a venture.
[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.

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	$ 5,428,422
Cash, accounts receivable and other assets	378,159
Debt, including premium	(735,172)
Accounts payable, accrued expenses and other liabilities	(80,740)
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			$ 2,639,481
Cash, accounts receivable and other assets			262,971
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	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Business Acquisition [Line Items]
Total revenues	$ 491,203	$ 1,715,540	$ 1,538,073
Net earnings attributable to common stockholders	$ 133,568	$ 756,302	$ 207,329
Net earnings per share attributable to common stockholders – Basic	$ 0.27	$ 1.45	$ 0.42
Net earnings per share attributable to common stockholders – Diluted	$ 0.22	$ 1.43	$ 0.41

Real Estate - Investments in Re

Real Estate - Investments in Real Estate Properties (Detail) ft² in Thousands, $ in Thousands	Sep. 30, 2015USD ($)ft²PropertyBuildings	Dec. 31, 2014USD ($)ft²PropertyBuildings	Sep. 30, 2014ft²Property
Real Estate Properties [Line Items]
Square Feet / Acres | ft²	275,000	260,700	301,800
Number of buildings | Property	1,342	1,278	1,494
Total investments in real estate properties	$ 27,269,358	$ 22,190,145
Less accumulated depreciation	3,156,445	2,790,781
Net investments in real estate properties	24,112,913	19,399,364
Improved Land [Member]
Real Estate Properties [Line Items]
Total investments in real estate properties	$ 5,724,586	$ 4,227,637
Building and Improvements [Member]
Real Estate Properties [Line Items]
Square Feet / Acres | ft²	342,762	282,282
Number of buildings | Buildings	1,909	1,607
Total investments in real estate properties	$ 17,774,600	$ 14,407,815
Development Portfolio, Including Cost of Land: Pre-stabilized [Member]
Real Estate Properties [Line Items]
Square Feet / Acres | ft²	7,321	7,448
Number of buildings | Buildings	24	24
Total investments in real estate properties	$ 558,208	$ 547,982
Properties Under Development [Member]
Real Estate Properties [Line Items]
Square Feet / Acres | ft²	22,310	22,844
Number of buildings | Buildings	50	55
Total investments in real estate properties	$ 1,017,181	$ 925,998
Land [Member]
Real Estate Properties [Line Items]
Square Feet / Acres | ft²	8,500	9,017
Total investments in real estate properties	$ 1,569,416	$ 1,577,786
Other Real Estate Investments [Member]
Real Estate Properties [Line Items]
Total investments in real estate properties	$ 625,367	$ 502,927

Real Estate - Summary of Acquis

Real Estate - Summary of Acquisition (Detail) ft² in Thousands, $ in Thousands	Sep. 30, 2015USD ($)ft²Property	Dec. 31, 2014ft²Property	Sep. 30, 2014USD ($)ft²Property
Business Acquisition [Line Items]
Number of industrial operating properties | Property	1,342	1,278	1,494
Square feet	275,000	260,700	301,800
Third Parties [Member]
Business Acquisition [Line Items]
Number of industrial operating properties | Property	27		8
Square feet	3,651		1,004
Real estate acquisition value | $	$ 305,519		$ 78,314

Real Estate - Summary of Dispos

Real Estate - Summary of Dispositions (Detail) ft² in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)ft²Property	Sep. 30, 2014USD ($)ft²Property	Dec. 31, 2014ft²Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties | Property	1,342	1,494	1,278
Square feet | ft²	275,000	301,800	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	23	115
Square feet | ft²	6,659	22,806
Net proceeds	$ 662,645	$ 1,627,424
Net gains on contributions	$ 111,307	$ 156,746
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	75	106
Square feet | ft²	12,723	14,663
Net proceeds	$ 1,347,755	$ 955,240
Net gains on contributions	$ 543,981	$ 180,949

Real Estate - Additional Inform

Real Estate - Additional Information (Detail) ft² in Millions, $ in Millions	1 Months Ended
	Jun. 30, 2014USD ($)ft²Property	Sep. 30, 2015ft²	Dec. 31, 2014ft²	Sep. 30, 2014ft²
Real Estate Properties [Line Items]
Square feet		275	260.7	301.8
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	Sep. 30, 2015	Dec. 31, 2014
Schedule Of Equity Method Investments [Line Items]
Other ventures	$ 4,841,225	$ 4,824,724
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Other ventures	4,631,329	4,665,918
Other Joint Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Other ventures	$ 209,896	$ 158,806

Unconsolidated Entities - Sum44

Unconsolidated Entities - Summary of Unconsolidated Co-investment Ventures (Detail) $ in Thousands, ft² in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015USD ($)ft²PropertyVenture	Sep. 30, 2014USD ($)ft²PropertyVenture	Sep. 30, 2015USD ($)ft²PropertyVenture	Sep. 30, 2014USD ($)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		1,342	1,494	1,342	1,494	1,278
Square feet | ft²		275	301.8	275	301.8	260.7
Total assets		$ 22,852,000	$ 25,714,000	$ 22,852,000	$ 25,714,000	$ 22,661,000
Third-party debt		6,558,000	7,865,000	6,558,000	7,865,000	6,576,000
Total liabilities		7,901,000	9,291,000	7,901,000	9,291,000	7,694,000
Our investment balance	[1]	4,631,000	5,641,000	4,631,000	5,641,000	$ 4,666,000
Revenues		458,561	525,671	1,364,449	1,509,774
Net operating income		358,008	408,027	1,055,385	1,159,650
Net earnings		$ 94,162	$ 85,450	$ 302,270	$ 244,665
Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		3	4	3	4	3
Number of properties owned | Property		602	814	602	814	590
Square feet | ft²		89.2	130.5	89.2	130.5	87.1
Total assets		$ 6,870,000	$ 9,396,000	$ 6,870,000	$ 9,396,000	$ 7,063,000
Third-party debt		2,025,000	3,309,000	2,025,000	3,309,000	2,280,000
Total liabilities		2,166,000	3,513,000	2,166,000	3,513,000	2,421,000
Our investment balance	[1]	1,480,000	2,371,000	1,480,000	2,371,000	$ 1,537,000
Revenues	[2]	152,196	204,225	457,048	551,153
Net operating income	[2]	118,146	154,415	347,616	405,900
Net earnings	[2]	$ 33,561	$ 24,362	$ 77,606	$ 16,792
Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		4	4	4	4	4
Number of properties owned | Property		683	629	683	629	636
Square feet | ft²		158.5	145.3	158.5	145.3	147.4
Total assets		$ 11,734,000	$ 11,952,000	$ 11,734,000	$ 11,952,000	$ 11,463,000
Third-party debt		2,786,000	2,798,000	2,786,000	2,798,000	2,644,000
Total liabilities		3,766,000	3,823,000	3,766,000	3,823,000	3,524,000
Our investment balance	[1]	2,796,000	2,894,000	2,796,000	2,894,000	$ 2,773,000
Revenues		237,914	250,477	702,772	749,433
Net operating income		186,779	198,011	548,705	590,856
Net earnings		$ 50,504	$ 38,708	$ 168,947	$ 166,999
Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		2	2	2	2	2
Number of properties owned | Property		57	51	57	51	52
Square feet | ft²		27.3	26	27.3	26	26.2
Total assets		$ 4,248,000	$ 4,366,000	$ 4,248,000	$ 4,366,000	$ 4,135,000
Third-party debt		1,747,000	1,758,000	1,747,000	1,758,000	1,652,000
Total liabilities		1,969,000	1,955,000	1,969,000	1,955,000	1,749,000
Our investment balance	[1],[3]	355,000	376,000	355,000	376,000	$ 356,000
Revenues		68,451	70,969	204,629	209,188
Net operating income		53,083	55,601	159,064	162,894
Net earnings		$ 10,097	$ 22,380	$ 55,717	$ 60,874
Weighted Average [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	32.10%	35.40%	32.10%	35.40%	32.00%
Weighted Average [Member] | Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	29.70%	40.20%	29.70%	40.20%	31.00%
Weighted Average [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	39.50%	38.80%	39.50%	38.80%	38.80%
Weighted Average [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	15.00%	15.00%	15.00%	15.00%	15.00%
[1]	The difference between our ownership interest of a 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 a venture ($411.2 million and $322.9 million at September 30, 2015, and December 31, 2014, respectively); (ii) recording additional costs associated with our investment in a venture; and (iii) advances to a venture.
[2]	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.
[3]	At September 30, 2015, and December 31, 2014, we had receivables from Nippon Prologis REIT, Inc. (“NPR”) of $86.2 million and $85.9 million, respectively, related to customer security deposits that were 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.
[4]	Represents our weighted average ownership interest in all co-investment ventures based on each entity’s contribution of total assets, before depreciation, net of other liabilities.

Unconsolidated Entities - Sum45

Unconsolidated Entities - Summary of Unconsolidated Co-investment Ventures (Parenthetical) (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Schedule Of Equity Method Investments [Line Items]
Deferred gain recognize	$ 411.2	$ 322.9
Nippon Prologis REIT Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Intercompany notes receivable	$ 86.2	$ 85.9

Unconsolidated Entities - Earni

Unconsolidated Entities - Earnings on Investment in Co-Investment Ventures (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	$ 33,557	$ 28,514	$ 106,383	$ 79,411
Strategic capital revenue	44,176	54,070	133,247	175,714
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	32,617	27,194	103,704	77,079
Total strategic capital revenue	43,510	53,765	131,284	174,680
Strategic capital revenue	45,357	55,443	136,317	177,939
Unconsolidated Co-Investment Ventures [Member] | Development Management Income [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenue	1,847	1,678	5,033	3,259
Unconsolidated Co-Investment Ventures [Member] | Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	10,558	8,863	25,116	8
Total strategic capital revenue	14,098	18,449	45,073	80,004
Unconsolidated Co-Investment Ventures [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	20,871	14,653	69,685	66,890
Total strategic capital revenue	20,652	24,713	60,046	65,866
Unconsolidated Co-Investment Ventures [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Earnings from unconsolidated entities, net	1,188	3,678	8,903	10,181
Total strategic capital revenue	$ 8,760	$ 10,603	$ 26,165	$ 28,810

Unconsolidated Entities - Addit

Unconsolidated Entities - Additional Information (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule Of Equity Method Investments [Line Items]
Strategic capital income		$ 44,176	$ 54,070	$ 133,247	$ 175,714
Strategic capital expenses		$ 21,714	$ 22,442	$ 62,190	$ 74,442
Prologis Targeted U.S. Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Promote fee earned from venture	$ 42,100
Strategic capital income	31,300
Strategic capital expenses	$ 4,200

Unconsolidated Entities - Sum48

Unconsolidated Entities - Summary of Remaining Equity Commitments (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 2,313
Prologis [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	281
Venture Partners [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	2,032
Prologis Targeted U.S. Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 277
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	$ 277
Prologis Targeted Europe Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 411	[1]
Expiration date for remaining commitments range start	2,015	[1]
Expiration date for remaining commitments range end	2,017	[1]
Prologis Targeted Europe Logistics Fund [Member] | Venture Partners [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 411	[1]
Prologis European Properties Fund II [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 93	[1]
Expiration date for remaining commitments range start	2,015	[1]
Expiration date for remaining commitments range end	2,016	[1]
Prologis European Properties Fund II [Member] | Prologis [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 15	[1]
Prologis European Properties Fund II [Member] | Venture Partners [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	78	[1]
Prologis European Logistics Partners Sarl [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 104	[2]
Expiration date for remaining commitments	2016-02	[2]
Prologis European Logistics Partners Sarl [Member] | Prologis [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 52	[2]
Prologis European Logistics Partners Sarl [Member] | Venture Partners [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	52	[2]
Prologis China Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 1,428
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	$ 214
Prologis China Logistics Venture [Member] | Venture Partners [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 1,214
[1]	Equity commitments are denominated in euro and reported 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 in U.S. dollars using an exchange rate of $1.52 U.S. dollars to British pounds sterling.

Unconsolidated Entities - Sum49

Unconsolidated Entities - Summary of Remaining Equity Commitments (Parenthetical) (Detail)	Sep. 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 | $ / £	1.52

Assets Held for Sale - Summary

Assets Held for Sale - Summary of Assets Held for Sale (Detail) ft² in Thousands, $ in Thousands	Sep. 30, 2015USD ($)ft²Property		Dec. 31, 2014USD ($)ft²Property	Sep. 30, 2014ft²Property
Long Lived Assets Held For Sale [Line Items]
Number of properties | Property	1,342		1,278	1,494
Square feet	275,000		260,700	301,800
Total assets held for sale | $	$ 369,382	[1]	$ 43,934
Total liabilities associated with assets held for sale – included in Other Liabilities in the Consolidated Balance Sheets | $	$ 7,230
Disposal Group Heldforsale Not Discontinued Operations
Long Lived Assets Held For Sale [Line Items]
Number of properties | Property	19		7
Square feet	5,538		457
[1]	Includes two parcels of land held for sale at September 30, 2015

Assets Held for Sale - Summar51

Assets Held for Sale - Summary of Assets Held for Sale (Parenthetical) (Detail)	Sep. 30, 2015Parcels
Real Estate Assets Held For Development And Sale [Abstract]
Land Held For Sale	2

Note Receivable Backed by Rea52

Note Receivable Backed by Real Estate - Additional information (Detail) - USD ($) $ in Thousands	Feb. 28, 2015	Sep. 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	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Debt	$ 11,934,355	$ 9,380,199
Credit Facilities [Member]
Debt Instrument [Line Items]
Debt	207,978
Senior Notes [Member]
Debt Instrument [Line Items]
Debt	6,622,440	6,076,920
Exchangeable Senior Notes [Member]
Debt Instrument [Line Items]
Debt		456,766
Secured Mortgage Debt [Member]
Debt Instrument [Line Items]
Debt	$ 785,480	$ 1,050,591
Debts Of Operating Partnership [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.00%	3.60%
Debt	$ 11,934,355	$ 9,380,199
Debts Of Operating Partnership [Member] | Credit Facilities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.20%
Debt	$ 207,978
Debts Of Operating Partnership [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.30%	3.60%
Debt	$ 6,622,440	$ 6,076,920
Debts Of Operating Partnership [Member] | Exchangeable Senior Notes [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate		3.30%
Debt		$ 456,766
Debts Of Operating Partnership [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.40%	1.30%
Debt	$ 2,442,848	$ 572,730
Debts Of Operating Partnership [Member] | Other Debt [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	6.20%	6.20%
Debt	$ 15,648	$ 16,086
Debts Of Operating Partnership [Member] | Secured Mortgage Debt [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	6.40%	6.10%
Debt	$ 785,480	$ 1,050,591
Debts Of Operating Partnership [Member] | Secured Mortgage Debt of Consolidated Entities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.70%	2.50%
Debt	$ 1,859,961	$ 1,207,106

Debt - Debt Summary (Parentheti

Debt - Debt Summary (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Debt	$ 11,934,355	$ 9,380,199
E U R
Debt Instrument [Line Items]
Debt	3,600,000
J P Y
Debt Instrument [Line Items]
Debt	$ 1,000,000

Debt - Additional Information (

Debt - Additional Information (Detail) ¥ in Billions

Oct. 27, 2015USD ($)

May. 31, 2015USD ($)

Mar. 31, 2015USD ($)shares

Mar. 31, 2015USD ($)shares

Sep. 30, 2014USD ($)

Sep. 30, 2015USD ($)

Sep. 30, 2015EUR (€)

Sep. 30, 2014USD ($)

Sep. 30, 2015JPY (¥)

Sep. 30, 2015EUR (€)

Jun. 30, 2015USD ($)

Jun. 30, 2015JPY (¥)

May. 31, 2015EUR (€)

May. 29, 2015USD ($)

Dec. 31, 2014USD ($)

Dec. 31, 2014EUR (€)

Debt Instrument [Line Items]

Credit facility maximum borrowing capacity

$ 2,682,000,000

Debt issued

11,857,000,000

Notes exchanged

$ 459,800,000

Number of share issued on debt conversion | shares

11,900,000

11,900,000

Repayments of convertible debt

$ 200,000

Borrowings outstanding

208,000,000

Losses on early extinguishment of debt, net

$ 86,076,000

16,525,000

$ 163,361,000

KTR Capital Partners and Affiliates [Member]

Debt Instrument [Line Items]

Secured mortgage debt

$ 735,172,000

Debt Instrument, Unamortized Premiums

$ 30,500,000

Exchangeable Senior Notes [Member]

Debt Instrument [Line Items]

Fair value of derivative instruments

$ 43,000,000

43,000,000

$ 51,300,000

Unrealized gain (loss) on derivative instrument

$ 8,300,000

$ 27,600,000

$ 21,200,000

Senior Term Loan [Member]

Debt Instrument [Line Items]

Credit facility maximum borrowing capacity

$ 1,000,000,000

Line of credit facility, interest rate description

LIBOR plus 100 basis points

LIBOR plus 100 basis points

Debt Instrument maturity date

2016-05

2016-05

Cross acceleration to other recourse indebtedness

100,000,000

Senior Term Loan [Member] | LIBOR [Member]

Debt Instrument [Line Items]

Debt instrument basis spread

1.00%

1.00%

Senior Term Loan [Member] | KTR Capital Partners and Affiliates [Member]

Debt Instrument [Line Items]

Borrowings outstanding

$ 1,000,000,000

2015 Yen Senior Term Loan [Member]

Debt Instrument [Line Items]

Credit facility maximum borrowing capacity

$ 540,600,000

¥ 65

Line of credit facility, interest rate description

LIBOR plus 110 basis points

LIBOR plus 110 basis points

2015 Yen Senior Term Loan [Member] | LIBOR [Member]

Debt Instrument [Line Items]

Debt instrument basis spread

1.10%

1.10%

2015 Yen Senior Term Loan [Member] | KTR Capital Partners and Affiliates [Member]

Debt Instrument [Line Items]

Borrowings outstanding

540,600,000

¥ 65

Euro Term Loan [Member]

Debt Instrument [Line Items]

Credit facility maximum borrowing capacity | €

€ 500,000,000

Borrowings outstanding

$ 561,900,000

$ 230,700,000

€ 190,000,000

Additional outstanding borrowings

$ 272,600,000

€ 240,000,000

2014 Yen Senior Term Loan [Member]

Debt Instrument [Line Items]

Credit facility current borrowing capacity

340,300,000

40.9

1.375% Senior Notes Maturing in 2021 [Member]

Debt Instrument [Line Items]

Debt issued

$ 785,500,000

€ 700,000,000

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%

3.750% Senior Notes Maturing in November 2025 [Member]

Debt Instrument [Line Items]

Debt issued

$ 750,000,000

Interest rate

3.75%

4.5% Senior Unsecured Notes Due in 2017 [Member]

Debt Instrument [Line Items]

Interest rate

4.50%

Debt instrument, amount intend to be repurchased

$ 300,000,000

Senior Notes Maturing in 2019 and 2020 [Member]

Debt Instrument [Line Items]

Debt instrument, tender offer expiration date

Nov. 24, 2015

Senior Notes Maturing in 2019 and 2020 [Member] | Maximum [Member]

Debt Instrument [Line Items]

Debt instrument, amount intend to be repurchased

$ 200,000,000

Revolver [Member]

Debt Instrument [Line Items]

Credit facility maximum borrowing capacity

2,300,000,000

56.5

Credit facility current borrowing capacity

374,300,000

¥ 45

Secured Mortgage Debt [Member]

Debt Instrument [Line Items]

Repurchase of debt

286,500,000

Losses on early extinguishment of debt, net

16,500,000

Secured Mortgage Debt [Member] | KTR Capital Partners and Affiliates [Member]

Debt Instrument [Line Items]

Secured mortgage debt

$ 735,200,000

Interest rates ranging, Maximum

1.80%

1.80%

Interest rates ranging, Minimum

6.80%

6.80%

Secured Mortgage Debt [Member] | Maximum [Member] | KTR Capital Partners and Affiliates [Member]

Debt Instrument [Line Items]

Senior note effective interest rate

2.90%

2.90%

2.90%

Debt Instrument maturity date

2020-01

2020-01

Secured Mortgage Debt [Member] | Minimum [Member] | KTR Capital Partners and Affiliates [Member]

Debt Instrument [Line Items]

Senior note effective interest rate

2.70%

2.70%

2.70%

Debt Instrument maturity date

2017-07

2017-07

Debt - Credit Facilities (Detai

Debt - Credit Facilities (Detail) $ in Millions	Sep. 30, 2015USD ($)
Debt Disclosure [Abstract]
Aggregate lender commitments	$ 2,682
Borrowings outstanding	208
Outstanding letters of credit	31
Current availability	$ 2,443

Debt - Long-Term Debt Maturitie

Debt - Long-Term Debt Maturities (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
2,015	$ 18,000
2,016	1,655,000
2,017	1,659,000
2,018	789,000
2,019	1,122,000
2,020	1,299,000
2,021	1,637,000
2,022	1,334,000
2,023	859,000
2,024	915,000
Thereafter	570,000
Subtotal	11,857,000
Unamortized premiums (discounts), net	77,000
Total	11,934,355	$ 9,380,199
Credit Facilities [Member]
Debt Instrument [Line Items]
Total	207,978
Senior Notes [Member]
Debt Instrument [Line Items]
Total	6,622,440	6,076,920
Secured Mortgage Debt [Member]
Debt Instrument [Line Items]
Total	785,480	$ 1,050,591
Wholly Owned
Debt Instrument [Line Items]
2,015	15,000
2,016	1,200,000
2,017	1,143,000
2,018	386,000
2,019	979,000
2,020	1,047,000
2,021	1,636,000
2,022	1,333,000
2,023	858,000
2,024	914,000
Thereafter	567,000
Subtotal	10,078,000
Unamortized premiums (discounts), net	(4,000)
Total	10,074,000
Wholly Owned | Credit Facilities [Member]
Debt Instrument [Line Items]
2,017	197,000
2,018	11,000
Subtotal	208,000
Total	208,000
Wholly Owned | Senior Notes [Member]
Debt Instrument [Line Items]
2,017	377,000
2,018	262,000
2,019	693,000
2,020	1,040,000
2,021	1,284,000
2,022	784,000
2,023	850,000
2,024	784,000
Thereafter	560,000
Subtotal	6,634,000
Unamortized premiums (discounts), net	(12,000)
Total	6,622,000
Wholly Owned | Term Loans and Other Debt [Member]
Debt Instrument [Line Items]
2,016	1,001,000
2,017	563,000
2,018	1,000
2,019	1,000
2,020	1,000
2,021	341,000
2,022	542,000
2,023	1,000
2,024	1,000
Thereafter	7,000
Subtotal	2,459,000
Total	2,459,000
Wholly Owned | Secured Mortgage Debt [Member]
Debt Instrument [Line Items]
2,015	15,000
2,016	199,000
2,017	6,000
2,018	112,000
2,019	285,000
2,020	6,000
2,021	11,000
2,022	7,000
2,023	7,000
2,024	129,000
Subtotal	777,000
Unamortized premiums (discounts), net	8,000
Total	785,000
Consolidated Entities [Member]
Debt Instrument [Line Items]
2,015	3,000
2,016	455,000
2,017	516,000
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	3,000
Subtotal	1,779,000
Unamortized premiums (discounts), net	81,000
Total	$ 1,860,000

Stockholders' Equity of Prolo58

Stockholders' Equity of Prologis Inc and Partners Capital of the Operating Partnership - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Mar. 31, 2015	Jun. 30, 2015	Mar. 31, 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]
Common limited partnership units, shares		4,500,000
At the Market Offering [Member]
Shareholders Equity [Line Items]
Common stock, shares issued			1,700,000
Common stock, shares outstanding			$ 71.6

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Detail)	9 Months Ended
	Sep. 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		9 Months Ended
		Sep. 30, 2015		May. 29, 2015	Dec. 31, 2014
Noncontrolling Interest [Line Items]
Operating Partnership noncontrolling interest		$ 3,371,425			$ 1,159,901
Noncontrolling interests		3,553,401			1,208,090
Total Investment in Real Estate		24,112,913			19,399,364
Debt		11,934,355			9,380,199
Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Total Investment in Real Estate		$ 10,132,256			$ 4,796,478
Prologis US Logistics Venture [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage		55.00%	[1]	55.00%	55.00%	[1]
Operating Partnership noncontrolling interest	[1]	$ 2,697,369			$ 427,307
Total Investment in Real Estate	[1]	6,508,973			$ 1,006,183
Debt	[1]	$ 729,232
Prologis North American Industrial Fund [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage		66.10%			66.10%
Operating Partnership noncontrolling interest		$ 523,817			$ 544,718
Total Investment in Real Estate		2,616,676			2,771,299
Debt		$ 1,114,579			$ 1,188,836
Prologis Brazil Logistics Partners Fund I [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage	[2]	50.00%			50.00%
Operating Partnership noncontrolling interest	[2]	$ 47,245			$ 68,533
Other Consolidated Entities [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership	[3]	various
Operating Partnership noncontrolling interest	[3]	$ 102,994			119,343
Total Investment in Real Estate	[3]	1,006,607			1,018,996
Debt	[3]	16,150			18,270
Prologis, L.P. [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		3,371,425			1,159,901
Total Investment in Real Estate		24,112,913			19,399,364
Debt		11,934,355			9,380,199
Prologis, L.P. [Member] | Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Limited partners in Prologis, L.P.	[4],[5]	181,976			48,189
Debt		1,859,961			1,207,106
Prologis Inc [Member]
Noncontrolling Interest [Line Items]
Total Investment in Real Estate		10,132,256			4,796,478
Debt		1,859,961			1,207,106
Prologis Inc [Member] | Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		$ 3,553,401			$ 1,208,090
[1]	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.
[2]	The assets of Prologis Brazil Logistics Partners Fund I (“Brazil Fund”) are primarily investments in unconsolidated entities of $101.0 million and $152.0 million at September 30, 2015, and December 31, 2014, respectively. For additional information on our unconsolidated investments, see Note 4.
[3]	This line item includes our two partnerships that have issued limited partnership units to third parties, as discussed above, along with various other consolidated entities. At September 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.
[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 September 30, 2015, and December 31, 2014, limited partnership units in the Operating Partnership were exchangeable into cash or, at our option, 6,554 and 1,767 shares, respectively, of the Parent’s common stock with a fair value of $255.0 million and $76.0 million, respectively, based on the closing stock price of the Parent’s common stock. At September 30, 2015, and December 31, 2014, there were 941 and 113 unvested 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.

Noncontrolling Interests - No61

Noncontrolling Interests - Noncontrolling Interest Summary (Parenthetical) (Detail) - USD ($) shares in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Noncontrolling Interest [Line Items]
Outstanding limited partnership units	1,835	1,887
Prologis Brazil Logistics Partners Fund I [Member]
Noncontrolling Interest [Line Items]
Investments in unconsolidated entities	$ 101	$ 152
Prologis, L.P. [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units	6,554	1,767
Fair value of outstanding limited partnership units	$ 255	$ 76
Restricted Operating Partnership Units [Member]
Noncontrolling Interest [Line Items]
Number of units outstanding	941	113
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

Long-Term Compensation - Additi

Long-Term Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Feb. 10, 2015	Sep. 30, 2015	Dec. 31, 2014
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options outstanding		4,800
Stock options exercisable		4,800
Stock options outstanding, weighted average exercise price		$ 34.96
Stock options exercisable, weighted average exercise price		$ 34.96
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		1,631	2,521
Restricted Operating Partnership Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of units outstanding		1,244	113
Restricted Operating Partnership 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) shares in Thousands	9 Months Ended
	Sep. 30, 2015$ / sharesshares
RSU and PSA [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Awards, beginning balance	2,521
Granted	689
Vested and distributed	(1,029)
Forfeited	(550)
Number of Awards, ending balance	1,631
Weighted Average Grant-Date Fair Value, Beginning balance | $ / shares	$ 39.38
Weighted Average Grant-Date Fair Value, Ending balance | $ / shares	$ 42.23
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 | $ / shares	$ 41.43
Weighted Average Grant-Date Fair Value, Ending balance | $ / shares	$ 42.21

Earnings Per Common Share _ U64

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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unitholders	$ 258,979	$ 136,245	$ 744,425	$ 213,626
Noncontrolling interests attributable to exchangeable limited partnership units	3,203	493	7,331	767
Gains, net of expenses, associated with exchangeable debt assumed exchanged		(18,658)	(1,614)
Adjusted net earnings attributable to common stockholders	$ 262,182	$ 118,080	$ 750,142	$ 214,393
Weighted average common shares/partnership units outstanding - Basic	523,528	499,292	520,388	499,045
Incremental weighted average effect on exchange of limited partnership units	6,685	1,843	5,875	1,792
Incremental weighted average effect of equity awards and warrant	1,860	3,074	1,953	3,374
Incremental weighted average effect on exchange of exchangeable debt		11,879	2,905
Weighted average common shares/partnership units outstanding - Diluted	532,073	516,088	531,121	504,211
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 0.49	$ 0.27	$ 1.43	$ 0.43
Diluted	$ 0.49	$ 0.23	$ 1.41	$ 0.43
Prologis, L.P. [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unitholders	$ 262,155	$ 136,738	$ 750,181	$ 214,393
Noncontrolling interests attributable to exchangeable limited partnership units	27		1,575
Gains, net of expenses, associated with exchangeable debt assumed exchanged		(18,658)	(1,614)
Adjusted net earnings attributable to common stockholders	$ 262,182	$ 118,080	$ 750,142	$ 214,393
Weighted average common shares/partnership units outstanding - Basic	530,044	501,135	524,411	500,837
Incremental weighted average effect on exchange of limited partnership units	169		1,852
Incremental weighted average effect of equity awards and warrant	1,860	3,074	1,953	3,374
Incremental weighted average effect on exchange of exchangeable debt		11,879	2,905
Weighted average common shares/partnership units outstanding - Diluted	532,073	516,088	531,121	504,211
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 0.49	$ 0.27	$ 1.43	$ 0.43
Diluted	$ 0.49	$ 0.23	$ 1.41	$ 0.43

Earnings Per Common Share _ U65

Earnings Per Common Share / Unit - Computation of Basic and Diluted Earnings Per Share Unit (Parenthetical) (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Weighted average exchangeable Operating Partnership units outstanding	6,516	1,843	4,023	1,792
Total weighted average potentially dilutive limited partnership units outstanding	7,359	14,170	7,392	14,903
Prologis, L.P. [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potentially dilutive exchangeable debt outstanding		11,879	2,905	11,879
Total weighted average effect on exchange of potentially dilutive limited partnership units outstanding	1,835	1,944	1,852	1,947

Financial Instruments and Fai66

Financial Instruments and Fair Value Measurements - Derivative Activity (Detail)	9 Months Ended
	Sep. 30, 2015USD ($)Derivative$ / €€ / $£ / $¥ / $CAD / $MXN / $	Sep. 30, 2015JPY (¥)Derivative$ / €€ / $£ / $¥ / $CAD / $MXN / $	Sep. 30, 2015EUR (€)Derivative$ / €€ / $£ / $¥ / $CAD / $MXN / $	Sep. 30, 2015GBP (£)Derivative$ / €€ / $£ / $¥ / $CAD / $MXN / $	Sep. 30, 2015CADDerivative$ / €€ / $£ / $¥ / $CAD / $MXN / $	Sep. 30, 2015MXNDerivative$ / €€ / $£ / $¥ / $CAD / $MXN / $	Sep. 30, 2014USD ($)	Sep. 30, 2014JPY (¥)	Sep. 30, 2014EUR (€)	Sep. 30, 2014GBP (£)
Derivative [Line Items]
Notional amounts at September 30, | $	$ 360,000,000
Net Investment Forward Contracts [Member] | EUR [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)				(1,979,000,000)		(1,446,000,000)
Notional amounts at September 30,							800,000,000		600,000,000
Net Investment Forward Contracts [Member] | GBP [Member]
Derivative [Line Items]
Notional amounts at January 1	400,000,000			£ 238,000,000
New contracts	186,000,000			118,000,000			400,000,000			£ 238,000,000
Matured or expired contracts	(200,000,000)			(118,000,000)
Notional amounts at September 30,	$ 386,000,000			£ 238,000,000			400,000,000			£ 238,000,000
Weighted average forward rate at September 30, | £ / $	1.62	1.62	1.62	1.62	1.62	1.62
Active contracts at September 30,	3	3	3	3	3	3
Net Investment Forward Contracts [Member] | JPY [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					769,000,000	79,010,000,000
Matured or expired contracts	$ (603,000,000)	¥ (67,509,000,000)					(769,000,000)	(79,010,000,000)
Notional amounts at September 30,							250,000,000	24,136,000,000
Forward and Option Contracts [Member]
Derivative [Line Items]
Notional amounts at September 30,			€ 30,800,000	£ 23,000,000
Weighted average forward rate at September 30, | $ / €	1.10	1.10	1.10	1.10	1.10	1.10
Forward and Option Contracts [Member] | EUR [Member]
Derivative [Line Items]
Notional amounts at January 1	$ 354,000,000		€ 284,000,000
New contracts	303,000,000		268,000,000				187,000,000		141,000,000
Matured or expired contracts	(358,000,000)		(292,000,000)				(90,000,000)		(66,000,000)
Notional amounts at September 30,	$ 299,000,000		€ 260,000,000				97,000,000		€ 75,000,000
Weighted average forward rate at September 30, | € / $	1.15	1.15	1.15	1.15	1.15	1.15
Active contracts at September 30,	20	20	20	20	20	20
Forward and Option Contracts [Member] | GBP [Member]
Derivative [Line Items]
New contracts	$ 269,000,000			£ 179,000,000
Matured or expired contracts	(104,000,000)			(70,000,000)
Notional amounts at September 30,	$ 165,000,000			£ 109,000,000
Weighted average forward rate at September 30, | £ / $	1.31	1.31	1.31	1.31	1.31	1.31
Active contracts at September 30,	15	15	15	15	15	15
Forward and Option Contracts [Member] | JPY [Member]
Derivative [Line Items]
New contracts	$ 159,000,000	¥ 18,740,000,000
Matured or expired contracts	(38,000,000)	(4,400,000,000)
Notional amounts at September 30,	$ 121,000,000	¥ 14,340,000,000
Weighted average forward rate at September 30, | ¥ / $	118.12	118.12	118.12	118.12	118.12	118.12
Active contracts at September 30,	18	18	18	18	18	18
Forward and Option Contracts [Member] | CAD [Member]
Derivative [Line Items]
New contracts	$ 55,000,000				CAD 69,000,000
Matured or expired contracts	(11,000,000)				(14,000,000)
Notional amounts at September 30,	$ 44,000,000				CAD 55,000,000
Weighted average forward rate at September 30, | CAD / $	1.26	1.26	1.26	1.26	1.26	1.26
Active contracts at September 30,	9	9	9	9	9	9
Forward and Option Contracts [Member] | MXN [Member]
Derivative [Line Items]
New contracts	$ 8,000,000					MXN 140,000,000
Matured or expired contracts	(2,000,000)					(42,000,000)
Notional amounts at September 30,	$ 6,000,000					MXN 98,000,000
Weighted average forward rate at September 30, | MXN / $	17.03	17.03	17.03	17.03	17.03	17.03
Active contracts at September 30,	11	11	11	11	11	11
Interest Rate Contracts [Member] | JPY [Member]
Derivative [Line Items]
Notional amounts at January 1	$ 398,000,000	¥ 40,916,000,000
New contracts	886,000,000	65,000,000,000
Notional amounts at September 30,	$ 1,284,000,000	¥ 105,916,000,000
Weighted average forward rate at September 30, | ¥ / $	115.47	115.47	115.47	115.47	115.47	115.47
Active contracts at September 30,	6	6	6	6	6	6
Interest Rate Swaps [Member] | JPY [Member]
Derivative [Line Items]
Notional amounts at January 1 | $							71,000,000
New contracts							373,000,000	40,916,000,000
Notional amounts at September 30,							$ 444,000,000	¥ 40,916,000,000

Financial Instruments and Fai67

Financial Instruments and Fair Value Measurements - Derivative Activity (Parenthetical) (Detail)	3 Months Ended			9 Months Ended
	Sep. 30, 2015USD ($)Contracts$ / €	Jun. 30, 2015Contracts	Sep. 30, 2014USD ($)Contracts	Sep. 30, 2015USD ($)Contracts$ / €	Sep. 30, 2014USD ($)Contracts	Sep. 30, 2015EUR (€)$ / €	Sep. 30, 2015GBP (£)$ / €
Derivative [Line Items]
Number of option contracts exercised	10		1	23	2
Gains from option contracts exercised | $	$ 3,400,000		$ 1,000,000	$ 9,600,000	$ 1,100,000
Notional value of forward contracts | $	$ 360,000,000			$ 360,000,000
Number of contracts	2
2015 Yen Senior Term Loan [Member]
Derivative [Line Items]
Number of contracts		2
LIBOR [Member]
Derivative [Line Items]
Fixed interest rate	2.30%			2.30%		2.30%	2.30%
Forward and Option Contracts [Member]
Derivative [Line Items]
Number of forward contracts included in option contracts available to sell				4
Notional value of forward contracts						€ 30,800,000	£ 23,000,000
Weighted average forward rate at September 30, | $ / €	1.10			1.10		1.10	1.10

Financial Instruments and Fai68

Financial Instruments and Fair Value Measurements - Schedule of Fair Value of Derivative Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Asset	$ 40,800	$ 106,664
Liability	20,341	1,395
Foreign Currency Options [Member] | EUR [Member]
Derivatives, Fair Value [Line Items]
Asset	10,304	7,742
Liability	1,282
Foreign Currency Options [Member] | GBP [Member]
Derivatives, Fair Value [Line Items]
Asset	1,373
Liability	1,316
Foreign Currency Options [Member] | JPY [Member]
Derivatives, Fair Value [Line Items]
Asset	1,025
Liability	791
Foreign Currency Options [Member] | CAD [Member]
Derivatives, Fair Value [Line Items]
Asset	2,269
Interest Rate Hedges [Member]
Derivatives, Fair Value [Line Items]
Liability	16,878	1,395
Net Investment Hedges [Member] | EUR [Member]
Derivatives, Fair Value [Line Items]
Asset		22,891
Net Investment Hedges [Member] | GBP [Member]
Derivatives, Fair Value [Line Items]
Asset	25,829	29,097
Net Investment Hedges [Member] | JPY [Member]
Derivatives, Fair Value [Line Items]
Asset		$ 46,934
Cash Flow Hedge [Member] | Foreign Currency Options [Member] | Peso Denominated [Member]
Derivatives, Fair Value [Line Items]
Liability	$ 74

Financial Instruments and Fai69

Financial Instruments and Fair Value Measurements - Schedule of Fair Value of Derivative Instruments (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Foreign Currency Options [Member]
Derivatives, Fair Value [Line Items]
Gains on foreign exchange transactions	$ 2.7	$ 1.1	$ 12.2	$ 1.1

Financial Instruments and Fai70

Financial Instruments and Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value Disclosures [Abstract]
Foreign currency translation losses	$ (158.1)	$ (428.4)	$ (465)	$ (357)

Financial Instruments and Fai71

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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total gain (loss) on derivative instruments	$ (1,435)	$ 88,989	$ 36,106	$ 62,609
Total gain (loss) on derivative and nonderivative hedging instruments	(6,109)	293,239	254,835	277,179
Designated As Hedging Instrument [Member] | Derivative Net Investment Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total gain (loss) on derivative instruments	14,225	93,502	48,419	70,393
Designated As Hedging Instrument [Member] | Interest Rate Contracts [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total gain (loss) on derivative instruments	(14,680)	(39)	(15,439)	(229)
Designated As Hedging Instrument [Member] | Cash Flow Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total gain (loss) on derivative instruments	(74)		(74)
Designated As Hedging Instrument [Member] | Our Share of Derivatives from Unconsolidated Co-Investment Ventures [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total gain (loss) on derivative instruments	(906)	(4,474)	3,200	(7,555)
Non-Derivative Net Investment Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Nonderivative net investment hedges	$ (4,674)	$ 204,250	$ 218,729	$ 214,570

Financial Instruments and Fai72

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		9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015EUR (€)	Dec. 31, 2014USD ($)	Dec. 31, 2014EUR (€)
Derivative Instruments Gain Loss [Line Items]
Amount received from (paid for) on settlement of net investment hedges		$ 5,900	$ 121,500	$ (5,500)
Interest expense reclassified	$ 81,035	69,086	218,698	234,793
Debt	11,934,355		11,934,355				$ 9,380,199
Amount of gain (loss) included in AOCI	(148,570)	(130,763)	(197,912)	(72,022)
Foreign Currency Forward Contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of gain (loss) included in AOCI	0	$ 0	10,000	$ 0
Foreign Currency Forward Contracts [Member] | Designated As Hedging Instrument [Member]
Derivative Instruments Gain Loss [Line Items]
Debt	$ 3,600,000		$ 3,600,000			€ 3,200	3,000,000	€ 2,500
Foreign Currency Forward Contracts [Member] | Nondesignated [Member]
Derivative Instruments Gain Loss [Line Items]
Debt							$ 118,500	€ 97.6
Scenario Forecast | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Derivative Instruments Gain Loss [Line Items]
Interest expense reclassified					$ 7,600

Financial Instruments and Fai73

Financial Instruments and Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	$ 11,934,355	$ 9,380,199
Fair Value of Debt	12,310,220	10,080,157
Credit Facilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	207,978
Fair Value of Debt	208,029
Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	6,622,440	6,076,920
Fair Value of Debt	6,884,123	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	785,480	1,050,591
Fair Value of Debt	886,632	1,173,488
Term Loans and Other Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	2,458,496	588,816
Fair Value of Debt	2,460,662	591,810
Secured Mortgage Debt of Consolidated Entities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	1,859,961	1,207,106
Fair Value of Debt	$ 1,870,774	$ 1,209,271

Business Segments - Additional

Business Segments - Additional Information (Detail)	9 Months Ended
	Sep. 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			9 Months Ended
	Sep. 30, 2015		Sep. 30, 2014	Sep. 30, 2015		Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Total revenues	$ 580,622		$ 415,151	$ 1,553,873		$ 1,309,922
General and administrative expenses	(59,375)		(58,203)	(172,690)		(181,781)
Depreciation and amortization	(247,471)		(149,202)	(607,467)		(471,059)
Earnings from unconsolidated entities, net	33,557		28,514	106,383		79,411
Interest expense	(81,035)		(69,086)	(218,698)		(234,793)
Interest and other income, net	6,237		550	19,133		19,716
Gains on acquisitions and dispositions of investments in real estate, net	268,791		151,057	655,288		337,695
Foreign currency and derivative gains (losses) and related amortization, net	(9,428)		20,792	(374)		2,738
Losses on early extinguishment of debt, net			(86,076)	(16,525)		(163,361)
Consolidated net earnings	103,392		78,112	274,621		244,852
Consolidated net earnings (loss)	218,122		45,751	545,207		41,406
Investments in and advances to unconsolidated entities	4,841,225			4,841,225			$ 4,824,724
Assets held for sale	369,382	[1]		369,382	[1]		43,934
Cash and cash equivalents	310,433		311,879	310,433		311,879	350,692	$ 491,129
Earnings before income taxes	321,514		123,863	819,828		286,258
Total assets	31,419,354			31,419,354			25,818,223
Note receivable backed by real estate	197,500			197,500
Other assets	1,587,901			1,587,901			1,199,509
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenues	580,622		415,151	1,553,873		1,309,922
Consolidated net earnings	410,238		285,517	1,054,778		897,692
Total assets	25,421,687			25,421,687			20,258,013
Operating Segments [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	536,446		361,081	1,420,626		1,134,208
Consolidated net earnings	387,776		253,889	983,721		796,420
Total assets	25,348,748			25,348,748			20,180,083
Operating Segments [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	44,176		54,070	133,247		175,714
Consolidated net earnings	22,462		31,628	71,057		101,272
Total assets	72,939			72,939			77,930
Operating Segments [Member] | Americas [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	503,487		324,877	1,326,446		1,025,349
Consolidated net earnings	365,723		230,515	923,118		727,245
Total assets	22,986,722			22,986,722			17,432,909
Operating Segments [Member] | Americas [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	14,692		18,567	46,734		80,457
Consolidated net earnings	2,966		6,451	15,091		38,599
Total assets	19,681			19,681			20,635
Operating Segments [Member] | Europe [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	17,591		20,422	53,041		57,083
Consolidated net earnings	11,092		12,072	32,173		31,706
Total assets	1,286,275			1,286,275			1,820,529
Operating Segments [Member] | Europe [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	20,652		24,713	60,046		65,866
Consolidated net earnings	14,285		17,791	40,576		43,600
Total assets	51,085			51,085			54,577
Operating Segments [Member] | Asia [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	15,368		15,782	41,139		51,776
Consolidated net earnings	10,961		11,302	28,430		37,469
Total assets	1,075,751			1,075,751			926,645
Operating Segments [Member] | Asia [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	8,832		10,790	26,467		29,391
Consolidated net earnings	5,211		7,386	15,390		19,073
Total assets	2,173			2,173			2,718
Reconciling Items [Member]
Segment Reporting Information [Line Items]
General and administrative expenses	(59,375)		(58,203)	(172,690)		(181,781)
Depreciation and amortization	(247,471)		(149,202)	(607,467)		(471,059)
Earnings from unconsolidated entities, net	33,557		28,514	106,383		79,411
Interest expense	(81,035)		(69,086)	(218,698)		(234,793)
Interest and other income, net	6,237		550	19,133		19,716
Gains on acquisitions and dispositions of investments in real estate, net	268,791		151,057	655,288		337,695
Foreign currency and derivative gains (losses) and related amortization, net	(9,428)		20,792	(374)		2,738
Losses on early extinguishment of debt, net			(86,076)	(16,525)		(163,361)
Consolidated net earnings (loss)	(88,724)		$ (161,654)	(234,950)		$ (611,434)
Investments in and advances to unconsolidated entities	4,841,225			4,841,225			4,824,724
Assets held for sale	369,382			369,382			43,934
Cash and cash equivalents	310,433			310,433			350,692
Total assets	5,997,667			5,997,667			5,560,210
Note receivable backed by real estate	197,500			197,500			0
Other assets	$ 279,127			$ 279,127			$ 340,860
[1]	Includes two parcels of land held for sale at September 30, 2015

Supplemental Cash Flow Inform76

Supplemental Cash Flow Information - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Supplemental Cash Flow Information [Line Items]
Ownership interests received		$ 65.3
Interest paid in cash, net of amounts capitalized		273.3	$ 222.1
Cash paid for income taxes, net of refunds		17	93.9
FIBRA Prologis [Member]
Supplemental Cash Flow Information [Line Items]
Ownership interests received	$ 601.6
Assumed debt	$ 345.1
Prologis European Logistics Partners Sarl [Member]
Supplemental Cash Flow Information [Line Items]
Capitalization for equity based compensation expense		$ 17.1	$ 16.1

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) $ / shares in Units, ft² in Millions, $ in Millions	Oct. 09, 2015USD ($)ft²$ / shares	Sep. 30, 2015ft²	Dec. 31, 2014ft²	Sep. 30, 2014ft²
Subsequent Event [Line Items]
Square Feet / Acres		275	260.7	301.8
Subsequent Events [Member]
Subsequent Event [Line Items]
Aggregate consideration for sale | $	$ 374
Subsequent Events [Member] | Morris Realty Associates LLC [Member]
Subsequent Event [Line Items]
Units issued agreed price per unit | $ / shares	$ 43.11
Subsequent Events [Member] | Morris Realty Associates LLC [Member] | Operating Properties [Member]
Subsequent Event [Line Items]
Business acquisition purchase price allocation real estate | $	$ 820
Square Feet / Acres	3.2
Subsequent Events [Member] | Morris Realty Associates LLC [Member] | Retail Properties
Subsequent Event [Line Items]
Square Feet / Acres	2.2