Prologis 10-Q 25 Apr 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 21, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
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		530,315,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Investments in real estate properties	$ 27,131,229	$ 27,119,330
Less accumulated depreciation	3,914,817	3,758,372
Net investments in real estate properties	23,216,412	23,360,958
Investments in and advances to unconsolidated entities	4,305,881	4,230,429
Assets held for sale or contribution	439,743	322,139
Notes receivable backed by real estate	17,006	32,100
Net investments in real estate	27,979,042	27,945,626
Cash and cash equivalents	395,829	807,316
Other assets	1,440,087	1,496,990
Total assets	29,814,958	30,249,932
Liabilities:
Debt	10,966,932	10,608,294
Accounts payable and accrued expenses	549,836	556,179
Other liabilities	629,769	627,319
Total liabilities	12,146,537	11,791,792
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 March 31, 2017, and December 31, 2016	78,235	78,235
Common stock: $0.01 par value; 530,213 shares and 528,671 shares issued and outstanding at March 31, 2017, and December 31, 2016, respectively	5,302	5,287
Additional paid-in capital	19,246,762	19,455,039
Accumulated other comprehensive loss	(943,282)	(937,473)
Distributions in excess of net earnings	(3,640,150)	(3,610,007)
Total Prologis, Inc. stockholders’ equity	14,746,867	14,991,081
Partners' capital:
Noncontrolling interests	2,921,554	3,467,059
Total equity	17,668,421	18,458,140
Total liabilities and equity	29,814,958	30,249,932
Prologis, L.P. [Member]
ASSETS
Investments in real estate properties	27,131,229	27,119,330
Less accumulated depreciation	3,914,817	3,758,372
Net investments in real estate properties	23,216,412	23,360,958
Investments in and advances to unconsolidated entities	4,305,881	4,230,429
Assets held for sale or contribution	439,743	322,139
Notes receivable backed by real estate	17,006	32,100
Net investments in real estate	27,979,042	27,945,626
Cash and cash equivalents	395,829	807,316
Other assets	1,440,087	1,496,990
Total assets	29,814,958	30,249,932
Liabilities:
Debt	10,966,932	10,608,294
Accounts payable and accrued expenses	549,836	556,179
Other liabilities	629,769	627,319
Total liabilities	12,146,537	11,791,792
Partners' capital:
Total partners’ capital	15,152,406	15,385,671
Noncontrolling interests	2,516,015	3,072,469
Total capital	17,668,421	18,458,140
Total liabilities and equity	29,814,958	30,249,932
Prologis, L.P. [Member] | Preferred [Member]
Partners' capital:
General partner	78,235	78,235
Prologis, L.P. [Member] | Common [Member]
Partners' capital:
General partner	14,668,632	14,912,846
Limited partners	166,902	150,173
Prologis, L.P. [Member] | Class A Common [Member]
Partners' capital:
Limited partners	$ 238,637	$ 244,417

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
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	530,213,000	528,671,000
Common stock, shares outstanding	530,213,000	528,671,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Rental	$ 439,884	$ 437,104
Rental recoveries	127,049	117,012
Strategic capital	57,045	51,003
Development management and other	5,177	1,181
Total revenues	629,155	606,300
Expenses:
Rental	152,656	146,581
Strategic capital	31,799	25,293
General and administrative	53,617	50,543
Depreciation and amortization	226,591	250,000
Other	2,606	4,685
Total expenses	467,269	477,102
Operating income	161,886	129,198
Other income (expense):
Earnings from unconsolidated entities, net	48,605	58,311
Interest expense	(72,912)	(80,812)
Interest and other income, net	2,785	2,591
Gains on dispositions of investments in real estate, net	97,325	144,317
Foreign currency and derivative losses, net	(7,400)	(14,211)
Losses on early extinguishment of debt, net	0	(1,052)
Total other income	68,403	109,144
Earnings before income taxes	230,289	238,342
Total income tax expense	9,600	15,537
Consolidated net earnings	220,689	222,805
Less net earnings attributable to noncontrolling interests	15,760	13,075
Net earnings attributable to controlling interests	204,929	209,730
Less preferred stock/unit dividends/distributions	1,674	1,689
Net earnings attributable to common stockholders/unitholders	$ 203,255	$ 208,041
Weighted average common shares/units outstanding – Basic	528,721	524,205
Weighted average common shares/units outstanding - Diluted	550,010	543,562
Net earnings per share attributable to common stockholders/unitholders - Basic	$ 0.38	$ 0.40
Net earnings per share attributable to common stockholders/unitholders - Diluted	0.38	0.39
Dividends per common share or unit	$ 0.44	$ 0.42
Prologis, L.P. [Member]
Revenues:
Rental	$ 439,884	$ 437,104
Rental recoveries	127,049	117,012
Strategic capital	57,045	51,003
Development management and other	5,177	1,181
Total revenues	629,155	606,300
Expenses:
Rental	152,656	146,581
Strategic capital	31,799	25,293
General and administrative	53,617	50,543
Depreciation and amortization	226,591	250,000
Other	2,606	4,685
Total expenses	467,269	477,102
Operating income	161,886	129,198
Other income (expense):
Earnings from unconsolidated entities, net	48,605	58,311
Interest expense	(72,912)	(80,812)
Interest and other income, net	2,785	2,591
Gains on dispositions of investments in real estate, net	97,325	144,317
Foreign currency and derivative losses, net	(7,400)	(14,211)
Losses on early extinguishment of debt, net	0	(1,052)
Total other income	68,403	109,144
Earnings before income taxes	230,289	238,342
Total income tax expense	9,600	15,537
Consolidated net earnings	220,689	222,805
Less net earnings attributable to noncontrolling interests	10,137	6,841
Net earnings attributable to controlling interests	210,552	215,964
Less preferred stock/unit dividends/distributions	1,674	1,689
Net earnings attributable to common stockholders/unitholders	$ 208,878	$ 214,275
Weighted average common shares/units outstanding – Basic	534,685	531,070
Weighted average common shares/units outstanding - Diluted	550,010	543,562
Net earnings per share attributable to common stockholders/unitholders - Basic	$ 0.38	$ 0.40
Net earnings per share attributable to common stockholders/unitholders - Diluted	0.38	0.39
Dividends per common share or unit	$ 0.44	$ 0.42

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Consolidated net earnings	$ 220,689	$ 222,805
Other comprehensive income (loss):
Foreign currency translation gains, net	39,667	1,461
Unrealized gains (losses) on derivative contracts, net	2,631	(15,892)
Comprehensive income	262,987	208,374
Net earnings attributable to noncontrolling interests	(15,760)	(13,075)
Other comprehensive income attributable to noncontrolling interests	(48,107)	(8,040)
Comprehensive income attributable to common stockholders / unitholders	199,120	187,259
Prologis, L.P. [Member]
Consolidated net earnings	220,689	222,805
Other comprehensive income (loss):
Foreign currency translation gains, net	39,667	1,461
Unrealized gains (losses) on derivative contracts, net	2,631	(15,892)
Comprehensive income	262,987	208,374
Net earnings attributable to noncontrolling interests	(10,137)	(6,841)
Other comprehensive income attributable to noncontrolling interests	(48,267)	(8,726)
Comprehensive income attributable to common stockholders / unitholders	$ 204,583	$ 192,807

Consolidated Statement of Equit

Consolidated Statement of Equity - 3 months ended Mar. 31, 2017 - 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, 2016	$ 18,458,140	$ 78,235	$ 5,287	$ 19,455,039	$ (937,473)	$ (3,610,007)	$ 3,467,059
Balance, shares at Dec. 31, 2016	528,671		528,671
Consolidated net earnings	$ 220,689					204,929	15,760
Effect of equity compensation plans	7,056		$ 9	(1,239)			8,286
Effect of equity compensation plans, shares			930
Settlement of noncontrolling interests	(789,803)			(201,797)			(588,006)
Conversion of noncontrolling interests			$ 6	17,229			(17,235)
Conversion of noncontrolling interests, shares			612
Foreign currency translation gains (losses), net	39,667				(8,369)		48,036
Unrealized gains on derivative contracts, net	2,631				2,560		71
Reallocation of equity				(22,457)			22,457
Distributions and other	(269,959)			(13)		(235,072)	(34,874)
Balance at Mar. 31, 2017	$ 17,668,421	$ 78,235	$ 5,302	$ 19,246,762	$ (943,282)	$ (3,640,150)	$ 2,921,554
Balance, shares at Mar. 31, 2017	530,213		530,213

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating activities:
Consolidated net earnings	$ 220,689	$ 222,805
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(25,497)	(20,283)
Equity-based compensation awards	18,380	12,465
Depreciation and amortization	226,591	250,000
Earnings from unconsolidated entities, net	(48,605)	(58,311)
Distributions from unconsolidated entities	77,347	80,088
Net changes in operating receivables from unconsolidated entities	3,880	30,599
Amortization of debt premiums, net of debt issuance costs	(2,905)	(5,391)
Gains on dispositions of investments in real estate, net	(97,325)	(144,317)
Unrealized foreign currency and derivative losses, net	12,078	15,079
Losses on early extinguishment of debt, net	0	1,052
Deferred income tax expense (benefit)	2,439	(619)
Increase in accounts receivable and other assets	33,470	11,455
Decrease in accounts payable and accrued expenses and other liabilities	(67,748)	(110,746)
Net cash provided by operating activities	352,794	283,876
Investing activities:
Real estate development	(320,986)	(343,955)
Real estate acquisitions	(132,358)	(67,346)
Tenant improvements and lease commissions on previously leased space	(40,278)	(41,569)
Nondevelopment capital expenditures	(10,851)	(10,721)
Proceeds from dispositions and contributions of real estate properties	542,192	603,387
Investments in and advances to unconsolidated entities	(106,658)	(117,017)
Return of investment from unconsolidated entities	108,543	111,141
Proceeds from repayment of notes receivable backed by real estate	15,094	197,500
Proceeds from the settlement of net investment hedges	1,789	869
Net cash provided by investing activities	56,487	332,289
Financing activities:
Proceeds from issuance of common stock	1,899	1,192
Dividends paid on common and preferred stock	(235,072)	(222,559)
Noncontrolling interests contributions	0	256
Noncontrolling interests distributions	(35,989)	(78,888)
Purchase of noncontrolling interests	(789,803)	(2,128)
Tax paid for shares withheld	(19,179)	(7,268)
Debt and equity issuance costs paid	(735)	(315)
Net proceeds from (payments on) credit facilities	(33,745)	302,983
Repurchase and payments of debt	(201,800)	(809,309)
Proceeds from issuance of debt	485,496	299,497
Net cash used in financing activities	(828,928)	(516,539)
Effect of foreign currency exchange rate changes on cash	8,160	6,031
Net increase (decrease) in cash and cash equivalents	(411,487)	105,657
Cash and cash equivalents, beginning of period	807,316	264,080
Cash and cash equivalents, end of period	395,829	369,737
Prologis, L.P. [Member]
Operating activities:
Consolidated net earnings	220,689	222,805
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(25,497)	(20,283)
Equity-based compensation awards	18,380	12,465
Depreciation and amortization	226,591	250,000
Earnings from unconsolidated entities, net	(48,605)	(58,311)
Distributions from unconsolidated entities	77,347	80,088
Net changes in operating receivables from unconsolidated entities	3,880	30,599
Amortization of debt premiums, net of debt issuance costs	(2,905)	(5,391)
Gains on dispositions of investments in real estate, net	(97,325)	(144,317)
Unrealized foreign currency and derivative losses, net	12,078	15,079
Losses on early extinguishment of debt, net	0	1,052
Deferred income tax expense (benefit)	2,439	(619)
Increase in accounts receivable and other assets	33,470	11,455
Decrease in accounts payable and accrued expenses and other liabilities	(67,748)	(110,746)
Net cash provided by operating activities	352,794	283,876
Investing activities:
Real estate development	(320,986)	(343,955)
Real estate acquisitions	(132,358)	(67,346)
Tenant improvements and lease commissions on previously leased space	(40,278)	(41,569)
Nondevelopment capital expenditures	(10,851)	(10,721)
Proceeds from dispositions and contributions of real estate properties	542,192	603,387
Investments in and advances to unconsolidated entities	(106,658)	(117,017)
Return of investment from unconsolidated entities	108,543	111,141
Proceeds from repayment of notes receivable backed by real estate	15,094	197,500
Proceeds from the settlement of net investment hedges	1,789	869
Net cash provided by investing activities	56,487	332,289
Financing activities:
Proceeds from issuance of common stock	1,899	1,192
Dividends paid on common and preferred stock	(244,497)	(231,967)
Noncontrolling interests contributions	0	256
Noncontrolling interests distributions	(26,564)	(69,480)
Purchase of noncontrolling interests	(789,803)	(2,128)
Tax paid for shares withheld	(19,179)	(7,268)
Debt and equity issuance costs paid	(735)	(315)
Net proceeds from (payments on) credit facilities	(33,745)	302,983
Repurchase and payments of debt	(201,800)	(809,309)
Proceeds from issuance of debt	485,496	299,497
Net cash used in financing activities	(828,928)	(516,539)
Effect of foreign currency exchange rate changes on cash	8,160	6,031
Net increase (decrease) in cash and cash equivalents	(411,487)	105,657
Cash and cash equivalents, beginning of period	807,316	264,080
Cash and cash equivalents, end of period	$ 395,829	$ 369,737

Consolidated Statements of Capi

Consolidated Statements of Capital - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Consolidated net earnings	$ 220,689
Effect of equity compensation plans	7,056
Unrealized gains on derivative contracts, net	2,631
Non-controlling Interests [Member]
Consolidated net earnings	15,760
Effect of equity compensation plans	8,286
Unrealized gains on derivative contracts, net	$ 71
Class A Common [Member]
Beginning balance, Units	8,900
Conversion of limited partners units, shares	8,600	8,700
Ending balance, Units	8,900	8,900
Prologis, L.P. [Member]
Beginning balance	$ 18,458,140
Consolidated net earnings	220,689
Effect of equity compensation plans	7,056
Settlement of noncontrolling interests	(789,803)
Foreign currency translation gains (losses), net	39,667
Unrealized gains on derivative contracts, net	2,631
Distributions and other	(269,959)
Ending balance	17,668,421	$ 18,458,140
Prologis, L.P. [Member] | Non-controlling Interests [Member]
Beginning balance	3,072,469
Consolidated net earnings	10,137
Settlement of noncontrolling interests	(588,006)
Conversion of limited partners units	(1,403)
Foreign currency translation gains (losses), net	48,267
Distributions and other	(25,449)
Ending balance	2,516,015	3,072,469
Prologis, L.P. [Member] | Preferred [Member] | General Partner
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
Beginning balance	$ 14,912,846
Beginning balance, Units	528,671
Consolidated net earnings	$ 204,929
Effect of equity compensation plans	$ (1,230)
Effect of equity compensation plans, shares	930
Settlement of noncontrolling interests	$ (201,797)
Conversion of limited partners units	$ 17,235
Conversion of limited partners units, shares	612
Foreign currency translation gains (losses), net	$ (8,369)
Unrealized gains on derivative contracts, net	2,560
Reallocation of capital	(22,457)
Distributions and other	(235,085)
Ending balance	$ 14,668,632	$ 14,912,846
Ending balance, Units	530,213	528,671
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Beginning balance	$ 150,173
Beginning balance, Units	5,323
Consolidated net earnings	$ 2,292
Effect of equity compensation plans	$ 8,286
Effect of equity compensation plans, shares	1,281
Conversion of limited partners units	$ (15,832)
Conversion of limited partners units, shares	(572)
Foreign currency translation gains (losses), net	$ (95)
Unrealized gains on derivative contracts, net	29
Reallocation of capital	25,721
Distributions and other	(3,672)
Ending balance	$ 166,902	$ 150,173
Ending balance, Units	6,032	5,323
Prologis, L.P. [Member] | Class A Common [Member] | Limited Partners [Member]
Beginning balance	$ 244,417
Beginning balance, Units	8,894
Consolidated net earnings	$ 3,331
Foreign currency translation gains (losses), net	(136)
Unrealized gains on derivative contracts, net	42
Reallocation of capital	(3,264)
Distributions and other	(5,753)
Ending balance	$ 238,637	$ 244,417
Ending balance, Units	8,894	8,894

General

General	3 Months Ended
	Mar. 31, 2017
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 logistics properties in the world’s primary population centers and in those supported by extensive transportation infrastructure. Our current business strategy consists of two operating business segments: Real Estate Operations and Strategic Capital. Our Real Estate Operations segment represents the ownership and development of logistics properties. Our Strategic Capital segment represents the management of co-investment ventures and other unconsolidated entities. See Note 10 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 March 31, 2017, the Parent owned an approximate 97.31% common general partnership interest in the Operating Partnership and 100% of the preferred units in the Operating Partnership. The remaining approximate 2.69% common limited partnership interests, which include 8.9 million Class A common limited partnership units (“Class A Units”) in the Operating Partnership, are owned by unaffiliated investors and certain current and former directors and officers of the Parent. Each partner’s percentage interest in the Operating Partnership is determined based on the number of Operating Partnership units held, including the number of Operating Partnership units into which Class A Units are convertible, compared to total Operating Partnership units outstanding at each period end and is used as the basis for the allocation of net income or loss to each partner. At the end of each reporting period, a capital adjustment is made in the Operating Partnership to reflect the appropriate ownership interest for each of the common unitholders. These adjustments are reflected in the line items Reallocation of Equity Reallocation of Capital As the sole general partner of the Operating Partnership, the Parent has complete responsibility and discretion in the day-to-day management and control of the Operating Partnership and 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 United States (“U.S.”) generally accepted accounting principles (“GAAP”) and are presented in our reporting currency, the U.S. dollar. All material intercompany transactions with consolidated entities have been eliminated. The accompanying unaudited interim financial information has been prepared according to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Certain information and 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 on Form 10-K for the fiscal year ended December 31, 2016, as filed with the SEC, and other public information. Certain amounts included in the accompanying Consolidated Financial Statements for 2016 have been reclassified to conform to the 2017 financial statement presentation. This included two reclassifications made in the Consolidated Statements of Cash Flows. The first was a reclassification of distributions from our unconsolidated entities from investing activities New Accounting Pronouncements. New Accounting Standards Adopted In January 2017, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update that clarifies the definition of a business. The update adds further guidance that assists preparers in evaluating whether a transaction will be accounted for as an acquisition of an asset or a business. We expect most of our acquisitions of operating properties and portfolios of operating properties to qualify as asset acquisitions under the standard that permits the capitalization of acquisition costs to the basis of the acquired buildings. We adopted this standard on January 1, 2017, on a prospective basis, and the adoption did not have a significant impact on the Consolidated Financial Statements. New Accounting Standards Issued but not yet Adopted Revenue Recognition. In May 2014, the FASB issued an accounting standard 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. We are evaluating each of our revenue streams and related accounting policy under the standard. Rental revenues and recoveries earned from leasing our operating properties will be evaluated with the adoption of the lease accounting standard (discussed below). Our evaluation under the revenue recognition standard also includes sales to third parties and unconsolidated co-investment ventures as well as recurring fees and promotes earned from our co-investment ventures. While we do not expect changes in the recognition of recurring fees earned from the co-investment ventures, we are evaluating both the timing and measurement of promotes earned from co-investment ventures that may result in recognizing such fees when they are probable of being earned. For sales to third parties, primarily a disposition of real estate in exchange for cash with few contingencies, we do not expect the standard to significantly impact the recognition of or accounting for these sales. In February 2017, in connection with the revenue recognition standard, the FASB issued a standard that provides the accounting treatment for gains and losses from the derecognition of non-financial assets, including the accounting for partial sales. Upon adoption of the standard, we will recognize the entire gain attributed to sales to unconsolidated co-investment ventures rather than the third party share we recognize today. Both the revenue recognition and derecognition of non-financial assets standards are effective for us on January 1, 2018. In addition to the recognition changes discussed above, expanded quantitative and qualitative disclosures regarding revenue recognition will be required for contracts that are subject to the standard. We expect to adopt the standards on a modified retrospective basis. Leases. In February 2016, the FASB issued an accounting standard that provides the principles for the recognition, measurement, presentation and disclosure of leases. The accounting for lessors will remain largely unchanged from current GAAP; however, the standard requires that lessors expense, on an as-incurred basis, certain initial direct costs that are not incremental in negotiating a lease. Under existing standards, certain of these costs are capitalizable and therefore this new standard may result in certain of these costs being expensed as incurred after adoption. This standard may also impact the timing, recognition and disclosures related to our rental recoveries from tenants earned from leasing our operating properties. Under the standard, lessees apply a dual approach, classifying leases as either finance or operating leases. A lessee is required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months, regardless of their lease classification. We are a lessee on ground leases in certain markets and office space leases. At December 31, 2016, we had approximately 90 ground and office space leases that will require us to measure and record a right-of-use asset and a lease liability upon adoption of the standard. There have been no significant changes to our ground and office space leases since December 31, 2016. The standard is effective for us on January 1, 2019. We are assessing the practical expedients available for implementation under the standard. If the practical expedients are elected, we would not be required to reassess (i) whether an expired or existing contract meets the definition of a lease, (ii) the lease classification at the adoption date for expired or existing leases, and (iii) whether costs previously capitalized as initial direct costs would continue to be amortized. The standard will also require new disclosures within the notes accompanying our Consolidated Financial Statements. We will continue to assess the method of adoption and the overall impact the adoption will have on the Consolidated Financial Statements.

Real Estate

Real Estate	3 Months Ended
	Mar. 31, 2017
Real Estate [Abstract]
Real Estate	NOTE 2. REAL ESTATE Investments in real estate properties consisted of the following (dollars and square feet in thousands): Square Feet Number of Buildings March 31, December 31, March 31, December 31, March 31, December 31, 2017 2016 2017 2016 2017 2016 Operating properties Buildings and improvements 329,743 331,210 1,762 1,776 $ 17,911,386 $ 17,905,914 Improved land 6,038,816 6,037,543 Development portfolio, including land costs: Prestabilized 7,784 8,256 26 29 725,949 798,233 Properties under development 19,133 19,539 54 60 761,509 633,849 Land (1) 1,162,427 1,218,904 Other real estate investments (2) 531,142 524,887 Total investments in real estate properties 27,131,229 27,119,330 Less accumulated depreciation 3,914,817 3,758,372 Net investments in real estate properties $ 23,216,412 $ 23,360,958 (1) Included in our investments in real estate at March 31, 2017, and December 31, 2016, were 5,665 and 5,892 acres of land, respectively. (2) Included in other real estate investments are: (i) non-logistics real estate; (ii) land parcels that are ground leased to third parties; (iii) our corporate office buildings; (iv) costs related to future development projects, including purchase options on land; (v) infrastructure costs related to projects we are developing on behalf of others; and (vi) earnest money deposits associated with potential acquisitions. Dispositions The following table summarizes our real estate disposition activity for the three months ended March 31 (dollars and square feet in thousands): 2017 2016 Contributions to unconsolidated co-investment ventures Number of properties 5 5 Square feet 2,769 2,711 Net proceeds (1) $ 397,489 $ 397,895 Net gains on contributions (1) $ 88,366 $ 93,139 Dispositions to third parties Number of properties 18 27 Square feet 2,318 2,244 Net proceeds (1) (2) $ 243,389 $ 280,579 Net gains on dispositions (1) (2) $ 8,959 $ 51,178 Total gains on dispositions of investments in real estate, net $ 97,325 $ 144,317 (1) Includes the contribution and disposition of land parcels. (2) Includes the sale of our investment in European Logistics Venture 1 (“ELV”) in 2017. See Note 3 for more information on this transaction.

Unconsolidated Entities

Unconsolidated Entities	3 Months Ended
	Mar. 31, 2017
Equity Method Investments And Joint Ventures [Abstract]
Unconsolidated Entities	NOTE 3. UNCONSOLIDATED ENTITIES Summary of Investments We have investments in entities through a variety of ventures. We co-invest in entities that own multiple properties with partners and investors and 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 6 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): March 31, December 31, 2017 2016 Unconsolidated co-investment ventures $ 4,096,173 $ 4,057,524 Other ventures 209,708 172,905 Totals $ 4,305,881 $ 4,230,429 Unconsolidated Co-Investment Ventures The amounts recognized in Strategic Capital Revenues Earnings from Unconsolidated Entities, Net Strategic Capital Expenses The following table summarizes the amounts we recognized in the Consolidated Statements of Income related to the unconsolidated co-investment ventures (in thousands): Three Months Ended March 31, 2017 2016 Strategic capital revenues from unconsolidated co-investment ventures, net: U.S. $ 11,058 $ 8,995 Other Americas 6,051 5,386 Europe 26,170 22,333 Asia 12,655 13,601 Total strategic capital revenues from unconsolidated co-investment ventures, net $ 55,934 $ 50,315 Earnings from unconsolidated co-investment ventures, net: U.S. $ 4,946 $ 6,659 Other Americas 6,570 5,299 Europe 29,905 31,579 Asia 4,029 3,655 Total earnings from unconsolidated co-investment ventures, net $ 45,450 $ 47,192 The following tables summarize the operating information and financial position of our unconsolidated co-investment ventures (not our proportionate share), as presented at our adjusted basis derived from the ventures’ U.S. GAAP information: March 31, December 31, March 31, (dollars and square feet in millions) 2017 2016 2016 U.S.: Number of ventures 1 1 1 Number of operating properties owned 381 369 381 Square feet 51 50 50 Total assets $ 4,293 $ 4,238 $ 4,382 Third-party debt $ 1,340 $ 1,414 $ 1,447 Total liabilities $ 1,424 $ 1,540 $ 1,528 Our investment balance (1) $ 430 $ 435 $ 688 Our weighted average ownership (2) 14.2 % 14.9 % 22.5 % Other Americas: Number of ventures 2 2 2 Number of operating properties owned 214 213 206 Square feet 43 42 39 Total assets $ 2,836 $ 2,793 $ 2,600 Third-party debt $ 737 $ 739 $ 659 Total liabilities $ 812 $ 814 $ 756 Our investment balance (1) $ 849 $ 845 $ 817 Our weighted average ownership (2) 43.9 % 43.9 % 43.7 % Europe: Number of ventures (3) (4) 4 4 4 Number of operating properties owned 702 700 688 Square feet 165 163 159 Total assets $ 11,596 $ 10,853 $ 11,538 Third-party debt $ 2,546 $ 2,446 $ 2,511 Total liabilities $ 3,463 $ 3,283 $ 3,448 Our investment balance (1) $ 2,353 $ 2,327 $ 2,759 Our weighted average ownership (2) 33.2 % 35.1 % 38.5 % Asia: Number of ventures 2 2 2 Number of operating properties owned 85 85 73 Square feet 37 36 32 Total assets $ 5,361 $ 5,173 $ 4,911 Third-party debt $ 2,055 $ 1,947 $ 1,779 Total liabilities $ 2,347 $ 2,239 $ 2,023 Our investment balance (1) $ 464 $ 451 $ 448 Our weighted average ownership (2) 15.1 % 15.1 % 15.0 % Total: Number of ventures 9 9 9 Number of operating properties owned 1,382 1,367 1,348 Square feet 296 291 280 Total assets $ 24,086 $ 23,057 $ 23,431 Third-party debt $ 6,678 $ 6,546 $ 6,396 Total liabilities $ 8,046 $ 7,876 $ 7,755 Our investment balance (1) $ 4,096 $ 4,058 $ 4,712 Our weighted average ownership (2) 26.9 % 27.9 % 31.1 % Three Months Ended March 31, (in millions) 2017 2016 Revenues: U.S. $ 104 $ 98 Other Americas 64 57 Europe 244 244 Asia 88 76 Total revenues $ 500 $ 475 Net earnings: U.S. $ 36 $ 30 Other Americas 17 14 Europe 73 73 Asia 24 22 Total net earnings $ 150 $ 139 (1) The difference between our ownership interest of a venture’s equity and our investment balance at March 31, 2017, and December 31, 2016, 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 ($465.3 million and $469.9 million, respectively); (ii) recording additional costs associated with our investment in a venture ($124.4 million and $124.1 million, respectively); and (iii) advances to a venture ($155.1 million and $166.1 million, respectively). Included in the advances to our ventures at March 31, 2017, and December 31, 2016, were receivables from Nippon Prologis REIT, Inc. (“NPR”) of $102.3 million and $96.9 million, respectively, related to customer security deposits that originated through a leasing company owned by us that pertain to properties owned by NPR. We have a corresponding payable to NPR’s customers in Other Liabilities. (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) In January 2017, we sold our investment in ELV to our fund partner for $84.3 million and ELV contributed its properties to Prologis Targeted Europe Logistics Fund (“PTELF”) in exchange for equity interests. (4) In February 2017, we formed the Prologis United Kingdom Logistics Venture (“UKLV”), an unconsolidated co-investment venture in which we have a 15.0% ownership interest. UKLV will acquire land, develop buildings and operate and hold logistics real estate assets in the United Kingdom (“U.K.”). Upon formation, we, along with our venture partner, committed £380.0 million ($474.9 million at March 31, 2017), of which our share is £57.0 million ($71.2 million at March 31, 2017). In February 2017, we contributed a portfolio of 3.9 million square feet of stabilized properties, properties under development and land for approximately £202.9 million ($252.1 million). We expect to continue to contribute properties into UKLV as they become stabilized, along with land. Equity Commitments Related to Certain Unconsolidated Co-Investment Ventures The following table summarizes the remaining equity commitments at March 31, 2017 (in millions): Equity Commitments Expiration Date for Remaining Commitments Prologis Venture Partners Total Prologis Targeted U.S. Logistics Fund $ - $ 6 $ 6 2017-2018 Prologis Targeted Europe Logistics Fund (1) - 388 388 2017-2018 Prologis United Kingdom Logistics Venture (2) 36 204 240 2021 Prologis China Logistics Venture 294 1,665 1,959 2017 Totals $ 330 $ 2,263 $ 2,593 (1) Equity commitments are denominated in euro and reported in U.S. dollars based on an exchange rate of $1.07 U.S. dollars to the euro. (2) As discussed above, this co-investment venture was formed in February 2017. Equity commitments are denominated in British pounds sterling and reported in U.S. dollars based on an exchange rate of $1.25 U.S. dollars to the British pound sterling.

Assets Held for Sale or Contrib

Assets Held for Sale or Contribution	3 Months Ended
	Mar. 31, 2017
Real Estate Assets Held For Development And Sale [Abstract]
Assets Held for Sale or Contribution	NOTE 4. ASSETS HELD FOR SALE OR CONTRIBUTION We have investments in certain real estate properties that met the criteria to be classified as held for sale or contribution at March 31, 2017, and December 31, 2016. These properties are expected to be sold to third parties or contributed to unconsolidated co-investment ventures within twelve months. The amounts included in Assets Held for Sale or Contribution Assets held for sale or contribution consisted of the following (dollars and square feet in thousands): March 31, December 31, 2017 2016 Number of operating properties 21 13 Square feet 5,292 4,167 Total assets held for sale or contribution $ 439,743 $ 322,139 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 5,709 $ 4,984

Debt

Debt	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Debt	NOTE 5. DEBT 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): March 31, 2017 December 31, 2016 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding Credit facilities - $ - 1.0 % $ 35,023 Senior notes 3.3 % 6,471,112 3.3 % 6,417,492 Term loans 1.4 % 1,825,796 1.4 % 1,484,523 Unsecured other 6.1 % 14,604 6.1 % 14,478 Secured mortgages (3) 4.1 % 1,945,201 4.9 % 979,585 Secured mortgages of consolidated entities (3) 2.7 % 710,219 3.0 % 1,677,193 Totals 3.1 % $ 10,966,932 3.2 % $ 10,608,294 (1) The interest rates presented represent the effective interest rates (including amortization of debt issuance costs and the noncash premiums or discounts) at the end of the period for the debt outstanding. (2) Included in the outstanding balances are borrowings denominated in non-U.S. dollars, principally: euro ($3.4 billion), Japanese yen ($1.4 billion), Canadian dollars ($0.4 billion) and British pounds sterling ($37.5 million). (3) As discussed in Note 6, we acquired all of our partner’s interest in Prologis North American Industrial Fund, therefore, the related secured mortgage debt of $958.9 million is now wholly-owned and reported as secured mortgages. Credit Facilities We have a global senior credit facility (the “Global Facility”), under which we may draw in British pounds sterling, Canadian dollars, euro, Japanese yen and U.S. dollars on a revolving basis up to $3.0 billion (subject to currency fluctuations). We have the ability to increase the Global Facility to $3.8 billion, subject to currency fluctuations and obtaining additional lender commitments. Pricing under the Global Facility, including the spread over LIBOR, facility fees and letter of credit fees, varies based on the public debt ratings of the Operating Partnership. The Global Facility is scheduled to mature in April 2020; however, we may extend the maturity date for six months on two occasions, subject to the satisfaction of certain conditions and payment of extension fees. We also have a Japanese yen revolver (the “Revolver”). In February 2017, we renewed and amended the Revolver to increase our availability from ¥45.0 billion to ¥50.0 billion ($447.1 million at March 31, 2017). We have the ability to increase the Revolver to ¥65.0 billion ($581.3 million at March 31, 2017), subject to obtaining additional lender commitments. Pricing under the Revolver, including the spread over LIBOR, facility fees and letter of credit fees, varies based on the public debt ratings of the Operating Partnership. The Revolver is scheduled to mature in February 2021; however, we may extend the maturity date for one year, subject to the satisfaction of certain conditions and payment of extension fees. We refer to the Global Facility and the Revolver, collectively, as our “Credit Facilities.” The following table summarizes information about our Credit Facilities at March 31, 2017 (in millions): Aggregate lender commitments $ 3,398 Less: Borrowings outstanding - Outstanding letters of credit 36 Current availability $ 3,362 Term Loans In March 2017, we entered into an unsecured senior term loan agreement (the “2017 Yen Term Loan”) under which we can draw in Japanese yen, of which ¥7.2 billion ($64.4 million at March 31, 2017) matures in March 2027 and bears interest of 0.92% and ¥4.8 billion ($42.9 million at March 31, 2017) matures in March 2028 and bears interest of 1.01%. In the first quarter of 2017, we borrowed ¥12.0 billion ($107.3 million), causing the 2017 Yen Term Loan to be fully drawn at March 31, 2017. Long-Term Debt Maturities Principal payments due on our debt, for the remainder of 2017 and for each of the years in the period ending December 31, 2026, and thereafter were as follows at March 31, 2017 (in thousands): Unsecured Senior Term Loans Secured Maturity Notes and Other Mortgage Debt Total 2017 (1) (2) $ - $ 378,334 $ 424,476 $ 802,810 2018 175,000 961 570,107 746,068 2019 618,294 1,084 446,360 1,065,738 2020 844,077 1,190 436,736 1,282,003 2021 1,248,370 1,012 141,573 1,390,955 2022 748,370 447,914 163,197 1,359,481 2023 850,000 905,517 174,416 1,929,933 2024 748,370 911 133,333 882,614 2025 750,000 976 135,895 886,871 2026 534,550 696 1,223 536,469 Thereafter - 112,679 1,161 113,840 Subtotal 6,517,031 1,851,274 2,628,477 10,996,782 Premiums (discounts), net (19,003 ) - 36,098 17,095 Debt issuance costs, net (26,916 ) (10,874 ) (9,155 ) (46,945 ) Totals $ 6,471,112 $ 1,840,400 $ 2,655,420 $ 10,966,932 (1) We expect to repay the amounts maturing in 2017 with cash generated from operations, proceeds from the dispositions of wholly owned real estate properties or, as necessary, with borrowings on our Credit Facilities. (2) Included in the 2017 maturities is a term loan that can be extended until 2019. Debt Covenants We have approximately $6.5 billion of senior notes and $1.8 billion of term loans outstanding at March 31, 2017, under three separate indentures, as supplemented, and are subject to certain financial covenants. We are also subject to financial covenants under our Credit Facilities and certain secured mortgage debt. At March 31, 2017, we were in compliance with all financial covenants.

Noncontrolling Interests

Noncontrolling Interests	3 Months Ended
	Mar. 31, 2017
Noncontrolling Interest [Abstract]
Noncontrolling Interests	NOTE 6. NONCONTROLLING INTERESTS Prologis, L.P. We report noncontrolling interests related to several entities we consolidate but of which we do not own 100% of the equity. These entities include two real estate partnerships that have issued limited partnership units to third parties. Depending on the specific partnership agreements, these limited partnership units are redeemable for cash or, at our option, shares of the Parent’s common stock, generally at a rate of one share of common stock to one unit. We also consolidate several entities in which we do not own 100% of the equity and the units of the entity are not convertible or redeemable. 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 ownership percentages and noncontrolling interests and the consolidated entities’ total assets and liabilities at March 31, 2017, and December 31, 2016 (dollars in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities 2017 2016 2017 2016 2017 2016 2017 2016 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 2,419,744 $ 2,424,800 $ 6,180,047 $ 6,201,278 $ 810,769 $ 797,593 Prologis North American Industrial Fund (1) 100.0 % 66.1 % - 486,648 - 2,479,072 - 1,038,708 Prologis Brazil Logistics Partners Fund I (2) 100.0 % 50.0 % - 61,836 - 131,581 - 720 Other consolidated entities (3) various various 96,271 99,185 1,494,171 866,821 139,357 34,073 Prologis, L.P. noncontrolling interests 2,516,015 3,072,469 7,674,218 9,678,752 950,126 1,871,094 Limited partners in Prologis, L.P. (4) (5) 405,539 394,590 - - - - Prologis, Inc. noncontrolling interests $ 2,921,554 $ 3,467,059 $ 7,674,218 $ 9,678,752 $ 950,126 $ 1,871,094 (1) In March 2017, we acquired all of our partner’s interest for $710.2 million. The difference between the amount we paid and the noncontrolling interest balance was adjusted through Additional Paid-in Capital (2) In March 2017, we acquired all of our partner’s interest for $79.8 million. The difference between the amount we paid and the noncontrolling interest balance was adjusted through Additional Paid-in Capital (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 March 31, 2017, and December 31, 2016, limited partnership units were redeemable for cash or, at our option, 1.8 million shares of the Parent’s common stock. In 2017, limited partnership units were redeemed for 40 thousand shares of the Parent’s common stock. (4) We had 8.9 million Class A Units that were convertible into 8.6 million and 8.7 million common limited partnership units of the Operating Partnership at March 31, 2017, and December 31, 2016, respectively. (5) At March 31, 2017, and December 31, 2016, excluding the Class A Units, there were common limited partnership units in the Operating Partnership outstanding that were redeemable for cash or, at our option, 4.1 million shares and 4.6 million shares of the Parent’s common stock with a fair value of $214.3 million and $241.8 million, respectively, based on the closing stock price of the Parent’s common stock. During 2017, unitholders redeemed 0.6 million common limited partnership units for an equal number of shares of the Parent’s common stock with a value of $15.8 million. At March 31, 2017, and December 31, 2016, there were 3.6 million and 2.2 million LTIP Units (as defined in Note 7) outstanding, respectively, associated with our long-term compensation plan that are convertible into common units of the Operating Partnership after they vest and other applicable conditions are met.

Long-Term Compensation

Long-Term Compensation	3 Months Ended
	Mar. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Long-Term Compensation	NOTE 7. LONG-TERM COMPENSATION Prologis Outperformance Plan (“POP”) We granted participation points for the 2017 – 2019 performance period in January 2017, with a fair value of $20.4 million using a Monte Carlo valuation model that assumed a risk-free interest rate of 1.49% and an expected volatility of 22.2%. Participation points represent a portion of a compensation pool that can be earned if and when certain performance criterion is met under the POP for the applicable performance period. The POP performance criterion was met for the 2014 – 2016 performance period, which resulted in awards for this performance period being earned. An aggregate performance pool of $62.2 million was awarded in January 2017 in the form of common stock or vested POP LTIP Units. Prologis Outperformance Plan Operating Partnership Long-Term Incentive Plan Units (“POP LTIP Units”) The following table summarizes the activity for the unvested POP LTIP Units for the three months ended March 31, 2017 (units in thousands): Number of Unvested POP LTIP Units Balance at January 1, 2017 3,490 Granted 38 Vested POP LTIP Units (1) (685 ) Forfeited (589 ) Balance at March 31, 2017 2,254 (1) Vested units are based on the POP performance criteria being met for the 2014 – 2016 performance period and represents the earned award amount. Vested units are included in LTIP Units in the table below. Any excess outstanding unvested POP LTIP Units for the 2014 – 2016 performance period were forfeited to the extent not earned. Operating Partnership Long-Term Incentive Plan Units (“LTIP Units”) The following table summarizes the activity for LTIP Units for the three months ended March 31, 2017 (units in thousands): Number of Weighted Average Number of LTIP Units Grant-Date Fair Value LTIP Units Vested Balance at January 1, 2017 2,219 $ 40.81 743 Granted 841 Vested POP LTIP Units 685 Conversion to common limited partnership units (122 ) Balance at March 31, 2017 3,623 $ 45.07 1,902 Restricted Stock Units (“RSUs”) The following table summarizes the activity for RSUs for the three months ended March 31, 2017 (units in thousands): Number of Weighted Average Number of RSUs Grant-Date Fair Value RSUs Vested Balance at January 1, 2017 1,617 $ 40.58 125 Granted 642 Vested and distributed (731 ) Forfeited (21 ) Balance at March 31, 2017 1,507 $ 44.43 121 Stock Options We have $1.7 million stock options outstanding and exercisable at March 31, 2017, with a weighted average exercise price of $32.08. The aggregate intrinsic value of exercised options was $2.6 million and $0.8 million for the three months ended March 31, 2017, and 2016, respectively. No stock options were granted in 2017 or 2016.

Earnings Per Common Share or Un

Earnings Per Common Share or Unit	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Common Share or Unit	NOTE 8. EARNINGS PER COMMON SHARE OR UNIT We determine basic earnings per share or unit based on the weighted average number of shares of common stock or units outstanding during the period. We compute diluted earnings per share or unit based on the weighted average number of shares or units outstanding combined with the incremental weighted average effect from all outstanding potentially dilutive instruments. The computation of our basic and diluted earnings per share and unit (in thousands, except per share and unit amounts) is as follows: Three Months Ended March 31, Prologis, Inc. 2017 2016 Net earnings attributable to common stockholders – Basic $ 203,255 $ 208,041 Net earnings attributable to redeemable limited partnership unitholders (1) 5,967 6,609 Adjusted net earnings attributable to common stockholders – Diluted $ 209,222 $ 214,650 Weighted average common shares outstanding – Basic 528,721 524,205 Incremental weighted average effect on redemption of limited partnership units (1) 16,455 17,543 Incremental weighted average effect of equity awards 4,834 1,814 Weighted average common shares outstanding – Diluted (2) 550,010 543,562 Net earnings per share attributable to common stockholders: Basic $ 0.38 $ 0.40 Diluted $ 0.38 $ 0.39 Three Months Ended March 31, Prologis, L.P. 2017 2016 Net earnings attributable to common unitholders $ 208,878 $ 214,275 Net earnings attributable to Class A common unitholders (3,331 ) (3,510 ) Net earnings attributable to common unitholders – Basic $ 205,547 $ 210,765 Net earnings attributable to Class A common unitholders 3,331 3,510 Net earnings attributable to limited partnership unitholders 344 375 Adjusted net earnings attributable to common unitholders – Diluted $ 209,222 $ 214,650 Weighted average common partnership units outstanding – Basic 534,685 531,070 Incremental weighted average effect on conversion of Class A Units 8,664 8,844 Incremental weighted average effect on redemption of limited partnership units into common stock of Prologis, Inc. 1,827 1,834 Incremental weighted average effect of equity awards of Prologis, Inc. 4,834 1,814 Weighted average common partnership units outstanding – Diluted (2) 550,010 543,562 Net earnings per unit attributable to common unitholders: Basic $ 0.38 $ 0.40 Diluted $ 0.38 $ 0.39 (1) Earnings allocated to the redeemable Operating Partnership units not held by the Parent has been included in the numerator and redeemable 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 and unit amount is the same. (2) Our total potentially dilutive shares and units outstanding consisted of the following: Three Months Ended March 31, 2017 2016 Total weighted average potentially dilutive limited partnership units 10,491 10,678 Total potentially dilutive stock awards 8,278 6,565 Total Prologis, L.P. 18,769 17,243 Limited partners in Prologis, L.P. 5,964 6,865 Total Prologis, Inc. 24,733 24,108

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Financial Instruments and Fair Value Measurements	NOTE 9. FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Derivative Financial Instruments In the normal course of business, our operations are exposed to market risks, including the effect of changes in foreign currency exchange rates and interest rates. To manage these risks, we may enter into 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. Our derivative financial instruments are customized 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, 2016. The following table presents the fair value and classification of our derivative instruments (in thousands): March 31, 2017 December 31, 2016 Asset Liability Asset Liability Net investment hedges British pound sterling denominated $ 6,877 $ 1,296 $ 7,439 $ - Canadian dollar denominated - 1,595 1,245 - Forwards and options (1) British pound sterling denominated 13,320 547 16,985 - Canadian dollar denominated 204 230 831 197 Euro denominated 8,174 - 10,933 - Yen denominated 5,596 2,306 9,246 1,071 Interest rate hedges 121 - 435 - Total fair value of derivatives $ 34,292 $ 5,974 $ 47,114 $ 1,268 (1) As discussed below, these foreign currency options are not designated as hedges. We recognized unrealized losses of $13.7 million and $16.8 million in Foreign Currency and Derivative Losses, Net Foreign Currency We primarily manage our foreign currency exposure by borrowing in the currencies in which we invest. 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 this 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 Losses, Net We may use foreign currency option contracts, including puts, calls and collars to mitigate foreign currency exchange rate risk associated with the translation of our projected net operating income of our international subsidiaries. These 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 in Foreign Currency and Derivative Losses, Net The following tables summarize the activity in our foreign currency contracts for the three months ended March 31 (in millions, except for weighted average forward rates and number of active contracts): 2017 Foreign Currency Contracts Local Currency Net Investment Hedges Forwards and Options CAD GBP CAD EUR GBP JPY Notional amounts at January 1 $ 133 £ 31 $ 50 € 174 £ 48 ¥ 15,500 New contracts 133 100 - 32 63 2,000 Matured, expired or settled contracts (133 ) - (7 ) (26 ) (15 ) (1,750 ) Notional amounts at March 31 $ 133 £ 131 $ 43 € 180 £ 96 ¥ 15,750 Foreign Currency Contracts U.S. Dollar Net Investment Hedges Forwards and Options Notional amounts at January 1 $ 100 $ 46 $ 38 $ 197 $ 78 $ 144 New contracts 99 127 - 36 80 19 Matured, expired or settled contracts (100 ) - (6 ) (30 ) (22 ) (16 ) Notional amounts at March 31 $ 99 $ 173 $ 32 $ 203 $ 136 $ 147 Weighted average forward rate at March 31 1.33 1.32 1.32 1.13 1.37 107.19 Active contracts at March 31 2 4 14 25 17 31 2016 Foreign Currency Contracts Local Currency Net Investment Hedges Forwards and Options CAD GBP JPY EUR GBP JPY Other Notional amounts at January 1 $ - £ 238 ¥ - € 275 £ 97 ¥ 12,840 New contracts 133 - 11,189 60 - 4,000 Matured, expired or settled contracts - - (11,189 ) (45 ) (12 ) (1,460 ) Notional amounts at March 31 $ 133 £ 238 ¥ - € 290 £ 85 ¥ 15,380 Foreign Currency Contracts U.S. Dollar Net Investment Hedges Forwards and Options (1) Notional amounts at January 1 $ - $ 386 $ - $ 310 $ 148 $ 109 $ 50 New contracts 100 - 99 68 - 36 9 Matured, expired or settled contracts - - (99 ) (51 ) (18 ) (13 ) (8 ) Notional amounts at March 31 $ 100 $ 386 $ - $ 327 $ 130 $ 132 $ 51 (1) During the Foreign Currency and Derivative Losses, Net. Interest Rate 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 our agreements without the exchange of the underlying notional amount. We report the effective portion of the gain or loss on the derivative as a component of AOCI Interest Expense Interest Expense At March 31, 2017, and December 31, 2016, we had three interest rate swaps outstanding with a notional amount of $271.2 million. We did not enter into or settle any interest rate swaps during the three months ended March 31, 2017, or 2016. Other Comprehensive Income The change in Other Comprehensive Income 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 Three Months Ended March 31, 2017 2016 Derivative net investment hedges (1) $ 2,294 $ 7,908 Interest rate and cash flow hedges (2) 429 (11,121 ) Our share of derivatives from unconsolidated co-investment ventures 2,202 (4,771 ) Total derivative instruments 4,925 (7,984 ) Nonderivative net investment hedges (3) (44,526 ) (161,189 ) Total derivative and nonderivative hedging instruments $ (39,601 ) $ (169,173 ) (1) We received $1.8 million and $0.9 million for the three months ended March 31, 2017, and 2016, respectively, upon the settlement of net investment hedges. (2) The amounts reclassified to interest expense for the three months ended March 31, 2017, and 2016, were $1.4 million and $1.0 million, respectively. For the next 12 months from March 31, 2017, we estimate an additional expense of $5.5 million will be reclassified to Interest Expense (3) At March 31, 2017, and December 31, 2016, we had €3.2 billion ($3.4 billion) of debt, net of accrued interest, respectively, designated as nonderivative financial instrument hedges of our net investment in international subsidiaries. We recognized unrealized losses of $4.1 million in Foreign Currency and Derivative Losses, Net Fair Value Measurements There have been no significant changes in our policy from what was disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2016. Fair Value Measurements on a Recurring Basis At March 31, 2017, and December 31, 2016, other than the derivatives discussed previously, we did not have any significant financial assets or financial liabilities that were measured at fair value on a recurring basis in the Consolidated Financial Statements. All of our derivatives held at March 31, 2017, and December 31, 2016, were classified as Level 2 of the fair value hierarchy. Fair Value Measurements on Nonrecurring Basis No assets met the criteria to be measured at fair value on a nonrecurring basis at March 31, 2017, or December 31, 2016. Fair Value of Financial Instruments At March 31, 2017, and December 31, 2016, the 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. 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 or borrowing spreads that were available to us at March 31, 2017, and December 31, 2016, as compared with those in effect when the debt was issued or assumed. 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): March 31, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ - $ - $ 35,023 $ 35,061 Senior notes 6,471,112 6,967,522 6,417,492 6,935,485 Term loans and unsecured other 1,840,400 1,857,013 1,499,001 1,510,661 Secured mortgages 1,945,201 2,025,183 979,585 1,055,020 Secured mortgages of consolidated entities 710,219 709,741 1,677,193 1,683,489 Total debt $ 10,966,932 $ 11,559,459 $ 10,608,294 $ 11,219,716

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Business Segments	NOTE 10. BUSINESS SEGMENTS 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 and development of operating properties and is the largest component of our revenues and earnings. We collect rent from our customers through operating leases, including reimbursements for the majority of our property operating costs. Each operating property is considered to be an individual operating segment with similar economic characteristics; these properties are combined within the reportable segment based on geographic location. Our Real Estate Operations segment also includes development activities that lead to rental operations, including land held for development and properties currently under development. Within this line of business, we utilize the following: (i) our land bank; (ii) the development expertise of our local teams; (iii) our customer relationships; and (iv) our in-depth knowledge in connection with our development activities. Land we own and lease to customers under ground leases is also included in this segment. • Strategic Capital. This operating segment represents the management of unconsolidated co-investment ventures. We generate strategic capital revenues from our unconsolidated co-investment ventures through asset management and property management services and we earn additional revenues by providing leasing, acquisition, construction, development, financing and disposition services. Depending on the structure of the venture and the returns provided to our partners, we also earn revenues through promotes periodically during the life of a venture or upon liquidation. Each unconsolidated co-investment venture we manage is considered to be an individual operating segment with similar economic characteristics; these ventures are combined within the reportable segment based on geographic location. Reconciliations are presented below for: (i) each reportable business segment’s revenues from external customers to Total Revenues Operating Income Earnings Before Income Taxes Total Assets Total Revenues, Operating Income, Earnings Before Income Taxes Total Assets Three Months Ended March 31, 2017 2016 Revenues: Real estate operations segment: U.S. $ 524,147 $ 511,157 Other Americas 15,089 13,935 Europe 18,231 16,475 Asia 14,643 13,730 Total real estate operations segment 572,110 555,297 Strategic capital segment: U.S. 11,908 9,356 Other Americas 6,051 5,386 Europe 26,262 22,583 Asia 12,824 13,678 Total strategic capital segment 57,045 51,003 Total revenues $ 629,155 $ 606,300 Segment net operating income: Real estate operations segment: U.S. $ 384,100 $ 375,717 Other Americas 9,982 8,193 Europe 12,858 11,305 Asia 9,908 8,816 Total real estate operations segment 416,848 404,031 Strategic capital segment: U.S. 1,939 1,710 Other Americas 3,145 3,136 Europe 16,390 15,620 Asia 3,772 5,244 Total strategic capital segment 25,246 25,710 Total segment net operating income 442,094 429,741 Reconciling items: General and administrative expenses 53,617 50,543 Depreciation and amortization expenses 226,591 250,000 Operating income 161,886 129,198 Earnings from unconsolidated entities, net 48,605 58,311 Interest expense (72,912 ) (80,812 ) Interest and other income, net 2,785 2,591 Gains on dispositions of investments in real estate, net 97,325 144,317 Foreign currency and derivative losses, net (7,400 ) (14,211 ) Losses on early extinguishment of debt, net - (1,052 ) Earnings before income taxes $ 230,289 $ 238,342 March 31, December 31, 2017 2016 Assets: Real estate operations segment: U.S. $ 21,276,254 $ 21,286,422 Other Americas 1,005,827 978,476 Europe 1,119,860 1,346,589 Asia 980,665 936,462 Total real estate operations segment 24,382,606 24,547,949 Strategic capital segment: U.S. 17,772 18,090 Europe 43,781 47,635 Asia 1,161 1,301 Total strategic capital segment 62,714 67,026 Total segment assets 24,445,320 24,614,975 Reconciling items: Investments in and advances to unconsolidated entities 4,305,881 4,230,429 Assets held for sale or contribution 439,743 322,139 Notes receivable backed by real estate 17,006 32,100 Cash and cash equivalents 395,829 807,316 Other assets 211,179 242,973 Total reconciling items 5,369,638 5,634,957 Total assets $ 29,814,958 $ 30,249,932

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2017
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	NOTE 11. SUPPLEMENTAL CASH FLOW INFORMATION Our significant noncash investing and financing activities for the three months ended March 31, 2017, and 2016 included the following: • We capitalized $7.0 million and $6.2 million in 2017 and 2016, respectively, of equity-based compensation expense resulting from our development and leasing activities. • We issued 0.6 million shares of the Parent’s common stock upon redemption of an equal number of common limited partnership units in the Operating Partnership in 2017, as disclosed in Note 6. • We received $10.2 million of ownership interests in certain unconsolidated co-investment ventures as a portion of our proceeds from the contribution of properties to these entities during 2017, as disclosed in Note 3. We paid $111.5 million and $117.2 million for interest, net of amounts capitalized, for the three months ended March 31, 2017, and 2016, respectively. We paid $15.2 million for income taxes, net of refunds, for the three months ended March 31, 2017. The amounts paid for the three months ended March 31, 2016 were not significant.

General (Policies)

General (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation. The accompanying Consolidated Financial Statements are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) and are presented in our reporting currency, the U.S. dollar. 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 on Form 10-K for the fiscal year ended December 31, 2016, as filed with the SEC, and other public information. Certain amounts included in the accompanying Consolidated Financial Statements for 2016 have been reclassified to conform to the 2017 financial statement presentation. This included two reclassifications made in the Consolidated Statements of Cash Flows. The first was a reclassification of distributions from our unconsolidated entities from investing activities
New Accounting Pronouncements	New Accounting Pronouncements. New Accounting Standards Adopted In January 2017, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update that clarifies the definition of a business. The update adds further guidance that assists preparers in evaluating whether a transaction will be accounted for as an acquisition of an asset or a business. We expect most of our acquisitions of operating properties and portfolios of operating properties to qualify as asset acquisitions under the standard that permits the capitalization of acquisition costs to the basis of the acquired buildings. We adopted this standard on January 1, 2017, on a prospective basis, and the adoption did not have a significant impact on the Consolidated Financial Statements. New Accounting Standards Issued but not yet Adopted Revenue Recognition. In May 2014, the FASB issued an accounting standard 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. We are evaluating each of our revenue streams and related accounting policy under the standard. Rental revenues and recoveries earned from leasing our operating properties will be evaluated with the adoption of the lease accounting standard (discussed below). Our evaluation under the revenue recognition standard also includes sales to third parties and unconsolidated co-investment ventures as well as recurring fees and promotes earned from our co-investment ventures. While we do not expect changes in the recognition of recurring fees earned from the co-investment ventures, we are evaluating both the timing and measurement of promotes earned from co-investment ventures that may result in recognizing such fees when they are probable of being earned. For sales to third parties, primarily a disposition of real estate in exchange for cash with few contingencies, we do not expect the standard to significantly impact the recognition of or accounting for these sales. In February 2017, in connection with the revenue recognition standard, the FASB issued a standard that provides the accounting treatment for gains and losses from the derecognition of non-financial assets, including the accounting for partial sales. Upon adoption of the standard, we will recognize the entire gain attributed to sales to unconsolidated co-investment ventures rather than the third party share we recognize today. Both the revenue recognition and derecognition of non-financial assets standards are effective for us on January 1, 2018. In addition to the recognition changes discussed above, expanded quantitative and qualitative disclosures regarding revenue recognition will be required for contracts that are subject to the standard. We expect to adopt the standards on a modified retrospective basis. Leases. In February 2016, the FASB issued an accounting standard that provides the principles for the recognition, measurement, presentation and disclosure of leases. The accounting for lessors will remain largely unchanged from current GAAP; however, the standard requires that lessors expense, on an as-incurred basis, certain initial direct costs that are not incremental in negotiating a lease. Under existing standards, certain of these costs are capitalizable and therefore this new standard may result in certain of these costs being expensed as incurred after adoption. This standard may also impact the timing, recognition and disclosures related to our rental recoveries from tenants earned from leasing our operating properties. Under the standard, lessees apply a dual approach, classifying leases as either finance or operating leases. A lessee is required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months, regardless of their lease classification. We are a lessee on ground leases in certain markets and office space leases. At December 31, 2016, we had approximately 90 ground and office space leases that will require us to measure and record a right-of-use asset and a lease liability upon adoption of the standard. There have been no significant changes to our ground and office space leases since December 31, 2016. The standard is effective for us on January 1, 2019. We are assessing the practical expedients available for implementation under the standard. If the practical expedients are elected, we would not be required to reassess (i) whether an expired or existing contract meets the definition of a lease, (ii) the lease classification at the adoption date for expired or existing leases, and (iii) whether costs previously capitalized as initial direct costs would continue to be amortized. The standard will also require new disclosures within the notes accompanying our Consolidated Financial Statements. We will continue to assess the method of adoption and the overall impact the adoption will have on the Consolidated Financial Statements.

Real Estate (Tables)

Real Estate (Tables)	3 Months Ended
	Mar. 31, 2017
Real Estate [Abstract]
Investments in Real Estate Properties	Investments in real estate properties consisted of the following (dollars and square feet in thousands): Square Feet Number of Buildings March 31, December 31, March 31, December 31, March 31, December 31, 2017 2016 2017 2016 2017 2016 Operating properties Buildings and improvements 329,743 331,210 1,762 1,776 $ 17,911,386 $ 17,905,914 Improved land 6,038,816 6,037,543 Development portfolio, including land costs: Prestabilized 7,784 8,256 26 29 725,949 798,233 Properties under development 19,133 19,539 54 60 761,509 633,849 Land (1) 1,162,427 1,218,904 Other real estate investments (2) 531,142 524,887 Total investments in real estate properties 27,131,229 27,119,330 Less accumulated depreciation 3,914,817 3,758,372 Net investments in real estate properties $ 23,216,412 $ 23,360,958 (1) Included in our investments in real estate at March 31, 2017, and December 31, 2016, were 5,665 and 5,892 acres of land, respectively. (2) Included in other real estate investments are: (i) non-logistics real estate; (ii) land parcels that are ground leased to third parties; (iii) our corporate office buildings; (iv) costs related to future development projects, including purchase options on land; (v) infrastructure costs related to projects we are developing on behalf of others; and (vi) earnest money deposits associated with potential acquisitions.
Summary of Properties Disposed	The following table summarizes our real estate disposition activity for the three months ended March 31 (dollars and square feet in thousands): 2017 2016 Contributions to unconsolidated co-investment ventures Number of properties 5 5 Square feet 2,769 2,711 Net proceeds (1) $ 397,489 $ 397,895 Net gains on contributions (1) $ 88,366 $ 93,139 Dispositions to third parties Number of properties 18 27 Square feet 2,318 2,244 Net proceeds (1) (2) $ 243,389 $ 280,579 Net gains on dispositions (1) (2) $ 8,959 $ 51,178 Total gains on dispositions of investments in real estate, net $ 97,325 $ 144,317 (1) Includes the contribution and disposition of land parcels. (2) Includes the sale of our investment in European Logistics Venture 1 (“ELV”) in 2017. See Note 3 for more information on this transaction.

Unconsolidated Entities (Tables

Unconsolidated Entities (Tables)	3 Months Ended
	Mar. 31, 2017
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in and Advances to our Unconsolidated Entities	The following table summarizes our investments in and advances to our unconsolidated entities (in thousands): March 31, December 31, 2017 2016 Unconsolidated co-investment ventures $ 4,096,173 $ 4,057,524 Other ventures 209,708 172,905 Totals $ 4,305,881 $ 4,230,429
Summary of Amounts Recognized in Consolidated Statements of Income Related to Co-Investment Ventures	The following table summarizes the amounts we recognized in the Consolidated Statements of Income related to the unconsolidated co-investment ventures (in thousands): Three Months Ended March 31, 2017 2016 Strategic capital revenues from unconsolidated co-investment ventures, net: U.S. $ 11,058 $ 8,995 Other Americas 6,051 5,386 Europe 26,170 22,333 Asia 12,655 13,601 Total strategic capital revenues from unconsolidated co-investment ventures, net $ 55,934 $ 50,315 Earnings from unconsolidated co-investment ventures, net: U.S. $ 4,946 $ 6,659 Other Americas 6,570 5,299 Europe 29,905 31,579 Asia 4,029 3,655 Total earnings from unconsolidated co-investment ventures, net $ 45,450 $ 47,192
Summary of Remaining Equity Commitments	The following table summarizes the remaining equity commitments at March 31, 2017 (in millions): Equity Commitments Expiration Date for Remaining Commitments Prologis Venture Partners Total Prologis Targeted U.S. Logistics Fund $ - $ 6 $ 6 2017-2018 Prologis Targeted Europe Logistics Fund (1) - 388 388 2017-2018 Prologis United Kingdom Logistics Venture (2) 36 204 240 2021 Prologis China Logistics Venture 294 1,665 1,959 2017 Totals $ 330 $ 2,263 $ 2,593 (1) Equity commitments are denominated in euro and reported in U.S. dollars based on an exchange rate of $1.07 U.S. dollars to the euro. (2) As discussed above, this co-investment venture was formed in February 2017. Equity commitments are denominated in British pounds sterling and reported in U.S. dollars based on an exchange rate of $1.25 U.S. dollars to the British pound sterling.
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in and Advances to our Unconsolidated Entities	The following tables summarize the operating information and financial position of our unconsolidated co-investment ventures (not our proportionate share), as presented at our adjusted basis derived from the ventures’ U.S. GAAP information: March 31, December 31, March 31, (dollars and square feet in millions) 2017 2016 2016 U.S.: Number of ventures 1 1 1 Number of operating properties owned 381 369 381 Square feet 51 50 50 Total assets $ 4,293 $ 4,238 $ 4,382 Third-party debt $ 1,340 $ 1,414 $ 1,447 Total liabilities $ 1,424 $ 1,540 $ 1,528 Our investment balance (1) $ 430 $ 435 $ 688 Our weighted average ownership (2) 14.2 % 14.9 % 22.5 % Other Americas: Number of ventures 2 2 2 Number of operating properties owned 214 213 206 Square feet 43 42 39 Total assets $ 2,836 $ 2,793 $ 2,600 Third-party debt $ 737 $ 739 $ 659 Total liabilities $ 812 $ 814 $ 756 Our investment balance (1) $ 849 $ 845 $ 817 Our weighted average ownership (2) 43.9 % 43.9 % 43.7 % Europe: Number of ventures (3) (4) 4 4 4 Number of operating properties owned 702 700 688 Square feet 165 163 159 Total assets $ 11,596 $ 10,853 $ 11,538 Third-party debt $ 2,546 $ 2,446 $ 2,511 Total liabilities $ 3,463 $ 3,283 $ 3,448 Our investment balance (1) $ 2,353 $ 2,327 $ 2,759 Our weighted average ownership (2) 33.2 % 35.1 % 38.5 % Asia: Number of ventures 2 2 2 Number of operating properties owned 85 85 73 Square feet 37 36 32 Total assets $ 5,361 $ 5,173 $ 4,911 Third-party debt $ 2,055 $ 1,947 $ 1,779 Total liabilities $ 2,347 $ 2,239 $ 2,023 Our investment balance (1) $ 464 $ 451 $ 448 Our weighted average ownership (2) 15.1 % 15.1 % 15.0 % Total: Number of ventures 9 9 9 Number of operating properties owned 1,382 1,367 1,348 Square feet 296 291 280 Total assets $ 24,086 $ 23,057 $ 23,431 Third-party debt $ 6,678 $ 6,546 $ 6,396 Total liabilities $ 8,046 $ 7,876 $ 7,755 Our investment balance (1) $ 4,096 $ 4,058 $ 4,712 Our weighted average ownership (2) 26.9 % 27.9 % 31.1 % Three Months Ended March 31, (in millions) 2017 2016 Revenues: U.S. $ 104 $ 98 Other Americas 64 57 Europe 244 244 Asia 88 76 Total revenues $ 500 $ 475 Net earnings: U.S. $ 36 $ 30 Other Americas 17 14 Europe 73 73 Asia 24 22 Total net earnings $ 150 $ 139 (1) The difference between our ownership interest of a venture’s equity and our investment balance at March 31, 2017, and December 31, 2016, 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 ($465.3 million and $469.9 million, respectively); (ii) recording additional costs associated with our investment in a venture ($124.4 million and $124.1 million, respectively); and (iii) advances to a venture ($155.1 million and $166.1 million, respectively). Included in the advances to our ventures at March 31, 2017, and December 31, 2016, were receivables from Nippon Prologis REIT, Inc. (“NPR”) of $102.3 million and $96.9 million, respectively, related to customer security deposits that originated through a leasing company owned by us that pertain to properties owned by NPR. We have a corresponding payable to NPR’s customers in Other Liabilities. (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) In January 2017, we sold our investment in ELV to our fund partner for $84.3 million and ELV contributed its properties to Prologis Targeted Europe Logistics Fund (“PTELF”) in exchange for equity interests. (4) In February 2017, we formed the Prologis United Kingdom Logistics Venture (“UKLV”), an unconsolidated co-investment venture in which we have a 15.0% ownership interest. UKLV will acquire land, develop buildings and operate and hold logistics real estate assets in the United Kingdom (“U.K.”). Upon formation, we, along with our venture partner, committed £380.0 million ($474.9 million at March 31, 2017), of which our share is £57.0 million ($71.2 million at March 31, 2017). In February 2017, we contributed a portfolio of 3.9 million square feet of stabilized properties, properties under development and land for approximately £202.9 million ($252.1 million). We expect to continue to contribute properties into UKLV as they become stabilized, along with land.

Assets Held for Sale or Contr23

Assets Held for Sale or Contribution (Tables)	3 Months Ended
	Mar. 31, 2017
Real Estate Assets Held For Development And Sale [Abstract]
Summary of Assets Held for Sale or Contribution	Assets held for sale or contribution consisted of the following (dollars and square feet in thousands): March 31, December 31, 2017 2016 Number of operating properties 21 13 Square feet 5,292 4,167 Total assets held for sale or contribution $ 439,743 $ 322,139 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 5,709 $ 4,984

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Debt Summary	The following table summarizes our debt (dollars in thousands): March 31, 2017 December 31, 2016 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding Credit facilities - $ - 1.0 % $ 35,023 Senior notes 3.3 % 6,471,112 3.3 % 6,417,492 Term loans 1.4 % 1,825,796 1.4 % 1,484,523 Unsecured other 6.1 % 14,604 6.1 % 14,478 Secured mortgages (3) 4.1 % 1,945,201 4.9 % 979,585 Secured mortgages of consolidated entities (3) 2.7 % 710,219 3.0 % 1,677,193 Totals 3.1 % $ 10,966,932 3.2 % $ 10,608,294 (1) The interest rates presented represent the effective interest rates (including amortization of debt issuance costs and the noncash premiums or discounts) at the end of the period for the debt outstanding. (2) Included in the outstanding balances are borrowings denominated in non-U.S. dollars, principally: euro ($3.4 billion), Japanese yen ($1.4 billion), Canadian dollars ($0.4 billion) and British pounds sterling ($37.5 million). (3) As discussed in Note 6, we acquired all of our partner’s interest in Prologis North American Industrial Fund, therefore, the related secured mortgage debt of $958.9 million is now wholly-owned and reported as secured mortgages.
Credit Facilities	The following table summarizes information about our Credit Facilities at March 31, 2017 (in millions): Aggregate lender commitments $ 3,398 Less: Borrowings outstanding - Outstanding letters of credit 36 Current availability $ 3,362
Long-Term Debt Maturities	Principal payments due on our debt, for the remainder of 2017 and for each of the years in the period ending December 31, 2026, and thereafter were as follows at March 31, 2017 (in thousands): Unsecured Senior Term Loans Secured Maturity Notes and Other Mortgage Debt Total 2017 (1) (2) $ - $ 378,334 $ 424,476 $ 802,810 2018 175,000 961 570,107 746,068 2019 618,294 1,084 446,360 1,065,738 2020 844,077 1,190 436,736 1,282,003 2021 1,248,370 1,012 141,573 1,390,955 2022 748,370 447,914 163,197 1,359,481 2023 850,000 905,517 174,416 1,929,933 2024 748,370 911 133,333 882,614 2025 750,000 976 135,895 886,871 2026 534,550 696 1,223 536,469 Thereafter - 112,679 1,161 113,840 Subtotal 6,517,031 1,851,274 2,628,477 10,996,782 Premiums (discounts), net (19,003 ) - 36,098 17,095 Debt issuance costs, net (26,916 ) (10,874 ) (9,155 ) (46,945 ) Totals $ 6,471,112 $ 1,840,400 $ 2,655,420 $ 10,966,932 (1) We expect to repay the amounts maturing in 2017 with cash generated from operations, proceeds from the dispositions of wholly owned real estate properties or, as necessary, with borrowings on our Credit Facilities. (2) Included in the 2017 maturities is a term loan that can be extended until 2019.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 2017
Noncontrolling Interest [Abstract]
Summary of Ownership Percentages and Noncontrolling Interests	The following table summarizes our ownership percentages and noncontrolling interests and the consolidated entities’ total assets and liabilities at March 31, 2017, and December 31, 2016 (dollars in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities 2017 2016 2017 2016 2017 2016 2017 2016 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 2,419,744 $ 2,424,800 $ 6,180,047 $ 6,201,278 $ 810,769 $ 797,593 Prologis North American Industrial Fund (1) 100.0 % 66.1 % - 486,648 - 2,479,072 - 1,038,708 Prologis Brazil Logistics Partners Fund I (2) 100.0 % 50.0 % - 61,836 - 131,581 - 720 Other consolidated entities (3) various various 96,271 99,185 1,494,171 866,821 139,357 34,073 Prologis, L.P. noncontrolling interests 2,516,015 3,072,469 7,674,218 9,678,752 950,126 1,871,094 Limited partners in Prologis, L.P. (4) (5) 405,539 394,590 - - - - Prologis, Inc. noncontrolling interests $ 2,921,554 $ 3,467,059 $ 7,674,218 $ 9,678,752 $ 950,126 $ 1,871,094 (1) In March 2017, we acquired all of our partner’s interest for $710.2 million. The difference between the amount we paid and the noncontrolling interest balance was adjusted through Additional Paid-in Capital (2) In March 2017, we acquired all of our partner’s interest for $79.8 million. The difference between the amount we paid and the noncontrolling interest balance was adjusted through Additional Paid-in Capital (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 March 31, 2017, and December 31, 2016, limited partnership units were redeemable for cash or, at our option, 1.8 million shares of the Parent’s common stock. In 2017, limited partnership units were redeemed for 40 thousand shares of the Parent’s common stock. (4) We had 8.9 million Class A Units that were convertible into 8.6 million and 8.7 million common limited partnership units of the Operating Partnership at March 31, 2017, and December 31, 2016, respectively. (5) At March 31, 2017, and December 31, 2016, excluding the Class A Units, there were common limited partnership units in the Operating Partnership outstanding that were redeemable for cash or, at our option, 4.1 million shares and 4.6 million shares of the Parent’s common stock with a fair value of $214.3 million and $241.8 million, respectively, based on the closing stock price of the Parent’s common stock. During 2017, unitholders redeemed 0.6 million common limited partnership units for an equal number of shares of the Parent’s common stock with a value of $15.8 million. At March 31, 2017, and December 31, 2016, there were 3.6 million and 2.2 million LTIP Units (as defined in Note 7) outstanding, respectively, associated with our long-term compensation plan that are convertible into common units of the Operating Partnership after they vest and other applicable conditions are met.

Long-Term Compensation (Tables)

Long-Term Compensation (Tables)	3 Months Ended
	Mar. 31, 2017
POP LTIP Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Unvested POP LTIP Units Activity	The following table summarizes the activity for the unvested POP LTIP Units for the three months ended March 31, 2017 (units in thousands): Number of Unvested POP LTIP Units Balance at January 1, 2017 3,490 Granted 38 Vested POP LTIP Units (1) (685 ) Forfeited (589 ) Balance at March 31, 2017 2,254 (1) Vested units are based on the POP performance criteria being met for the 2014 – 2016 performance period and represents the earned award amount. Vested units are included in LTIP Units in the table below. Any excess outstanding unvested POP LTIP Units for the 2014 – 2016 performance period were forfeited to the extent not earned.
LTIP Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options, RSU and Performance Share Awards	The following table summarizes the activity for LTIP Units for the three months ended March 31, 2017 (units in thousands): Number of Weighted Average Number of LTIP Units Grant-Date Fair Value LTIP Units Vested Balance at January 1, 2017 2,219 $ 40.81 743 Granted 841 Vested POP LTIP Units 685 Conversion to common limited partnership units (122 ) Balance at March 31, 2017 3,623 $ 45.07 1,902
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 three months ended March 31, 2017 (units in thousands): Number of Weighted Average Number of RSUs Grant-Date Fair Value RSUs Vested Balance at January 1, 2017 1,617 $ 40.58 125 Granted 642 Vested and distributed (731 ) Forfeited (21 ) Balance at March 31, 2017 1,507 $ 44.43 121

Earnings Per Common Share or 27

Earnings Per Common Share or Unit (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share Unit	The computation of our basic and diluted earnings per share and unit (in thousands, except per share and unit amounts) is as follows: Three Months Ended March 31, Prologis, Inc. 2017 2016 Net earnings attributable to common stockholders – Basic $ 203,255 $ 208,041 Net earnings attributable to redeemable limited partnership unitholders (1) 5,967 6,609 Adjusted net earnings attributable to common stockholders – Diluted $ 209,222 $ 214,650 Weighted average common shares outstanding – Basic 528,721 524,205 Incremental weighted average effect on redemption of limited partnership units (1) 16,455 17,543 Incremental weighted average effect of equity awards 4,834 1,814 Weighted average common shares outstanding – Diluted (2) 550,010 543,562 Net earnings per share attributable to common stockholders: Basic $ 0.38 $ 0.40 Diluted $ 0.38 $ 0.39 Three Months Ended March 31, Prologis, L.P. 2017 2016 Net earnings attributable to common unitholders $ 208,878 $ 214,275 Net earnings attributable to Class A common unitholders (3,331 ) (3,510 ) Net earnings attributable to common unitholders – Basic $ 205,547 $ 210,765 Net earnings attributable to Class A common unitholders 3,331 3,510 Net earnings attributable to limited partnership unitholders 344 375 Adjusted net earnings attributable to common unitholders – Diluted $ 209,222 $ 214,650 Weighted average common partnership units outstanding – Basic 534,685 531,070 Incremental weighted average effect on conversion of Class A Units 8,664 8,844 Incremental weighted average effect on redemption of limited partnership units into common stock of Prologis, Inc. 1,827 1,834 Incremental weighted average effect of equity awards of Prologis, Inc. 4,834 1,814 Weighted average common partnership units outstanding – Diluted (2) 550,010 543,562 Net earnings per unit attributable to common unitholders: Basic $ 0.38 $ 0.40 Diluted $ 0.38 $ 0.39 (1) Earnings allocated to the redeemable Operating Partnership units not held by the Parent has been included in the numerator and redeemable 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 and unit amount is the same. (2) Our total potentially dilutive shares and units outstanding consisted of the following: Three Months Ended March 31, 2017 2016 Total weighted average potentially dilutive limited partnership units 10,491 10,678 Total potentially dilutive stock awards 8,278 6,565 Total Prologis, L.P. 18,769 17,243 Limited partners in Prologis, L.P. 5,964 6,865 Total Prologis, Inc. 24,733 24,108

Financial Instruments and Fai28

Financial Instruments and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of Fair Value and Classification of Derivative Instruments	The following table presents the fair value and classification of our derivative instruments (in thousands): March 31, 2017 December 31, 2016 Asset Liability Asset Liability Net investment hedges British pound sterling denominated $ 6,877 $ 1,296 $ 7,439 $ - Canadian dollar denominated - 1,595 1,245 - Forwards and options (1) British pound sterling denominated 13,320 547 16,985 - Canadian dollar denominated 204 230 831 197 Euro denominated 8,174 - 10,933 - Yen denominated 5,596 2,306 9,246 1,071 Interest rate hedges 121 - 435 - Total fair value of derivatives $ 34,292 $ 5,974 $ 47,114 $ 1,268 (1) As discussed below, these foreign currency options are not designated as hedges. We recognized unrealized losses of $13.7 million and $16.8 million in Foreign Currency and Derivative Losses, Net
Foreign Currency Contracts Activity	The following tables summarize the activity in our foreign currency contracts for the three months ended March 31 (in millions, except for weighted average forward rates and number of active contracts): 2017 Foreign Currency Contracts Local Currency Net Investment Hedges Forwards and Options CAD GBP CAD EUR GBP JPY Notional amounts at January 1 $ 133 £ 31 $ 50 € 174 £ 48 ¥ 15,500 New contracts 133 100 - 32 63 2,000 Matured, expired or settled contracts (133 ) - (7 ) (26 ) (15 ) (1,750 ) Notional amounts at March 31 $ 133 £ 131 $ 43 € 180 £ 96 ¥ 15,750 Foreign Currency Contracts U.S. Dollar Net Investment Hedges Forwards and Options Notional amounts at January 1 $ 100 $ 46 $ 38 $ 197 $ 78 $ 144 New contracts 99 127 - 36 80 19 Matured, expired or settled contracts (100 ) - (6 ) (30 ) (22 ) (16 ) Notional amounts at March 31 $ 99 $ 173 $ 32 $ 203 $ 136 $ 147 Weighted average forward rate at March 31 1.33 1.32 1.32 1.13 1.37 107.19 Active contracts at March 31 2 4 14 25 17 31 2016 Foreign Currency Contracts Local Currency Net Investment Hedges Forwards and Options CAD GBP JPY EUR GBP JPY Other Notional amounts at January 1 $ - £ 238 ¥ - € 275 £ 97 ¥ 12,840 New contracts 133 - 11,189 60 - 4,000 Matured, expired or settled contracts - - (11,189 ) (45 ) (12 ) (1,460 ) Notional amounts at March 31 $ 133 £ 238 ¥ - € 290 £ 85 ¥ 15,380 Foreign Currency Contracts U.S. Dollar Net Investment Hedges Forwards and Options (1) Notional amounts at January 1 $ - $ 386 $ - $ 310 $ 148 $ 109 $ 50 New contracts 100 - 99 68 - 36 9 Matured, expired or settled contracts - - (99 ) (51 ) (18 ) (13 ) (8 ) Notional amounts at March 31 $ 100 $ 386 $ - $ 327 $ 130 $ 132 $ 51 (1) During the Foreign Currency and Derivative Losses, Net.
Summary of Gains (Losses) From Change in Fair Value of Derivative Instruments Included in Other Comprehensive Income	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 Three Months Ended March 31, 2017 2016 Derivative net investment hedges (1) $ 2,294 $ 7,908 Interest rate and cash flow hedges (2) 429 (11,121 ) Our share of derivatives from unconsolidated co-investment ventures 2,202 (4,771 ) Total derivative instruments 4,925 (7,984 ) Nonderivative net investment hedges (3) (44,526 ) (161,189 ) Total derivative and nonderivative hedging instruments $ (39,601 ) $ (169,173 ) (1) We received $1.8 million and $0.9 million for the three months ended March 31, 2017, and 2016, respectively, upon the settlement of net investment hedges. (2) The amounts reclassified to interest expense for the three months ended March 31, 2017, and 2016, were $1.4 million and $1.0 million, respectively. For the next 12 months from March 31, 2017, we estimate an additional expense of $5.5 million will be reclassified to Interest Expense (3) At March 31, 2017, and December 31, 2016, we had €3.2 billion ($3.4 billion) of debt, net of accrued interest, respectively, designated as nonderivative financial instrument hedges of our net investment in international subsidiaries. We recognized unrealized losses of $4.1 million in Foreign Currency and Derivative Losses, 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): March 31, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ - $ - $ 35,023 $ 35,061 Senior notes 6,471,112 6,967,522 6,417,492 6,935,485 Term loans and unsecured other 1,840,400 1,857,013 1,499,001 1,510,661 Secured mortgages 1,945,201 2,025,183 979,585 1,055,020 Secured mortgages of consolidated entities 710,219 709,741 1,677,193 1,683,489 Total debt $ 10,966,932 $ 11,559,459 $ 10,608,294 $ 11,219,716

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Segment Reporting, Reconciliation of Revenues, Operating Income and Assets	The following reconciliations are presented in thousands: Three Months Ended March 31, 2017 2016 Revenues: Real estate operations segment: U.S. $ 524,147 $ 511,157 Other Americas 15,089 13,935 Europe 18,231 16,475 Asia 14,643 13,730 Total real estate operations segment 572,110 555,297 Strategic capital segment: U.S. 11,908 9,356 Other Americas 6,051 5,386 Europe 26,262 22,583 Asia 12,824 13,678 Total strategic capital segment 57,045 51,003 Total revenues $ 629,155 $ 606,300 Segment net operating income: Real estate operations segment: U.S. $ 384,100 $ 375,717 Other Americas 9,982 8,193 Europe 12,858 11,305 Asia 9,908 8,816 Total real estate operations segment 416,848 404,031 Strategic capital segment: U.S. 1,939 1,710 Other Americas 3,145 3,136 Europe 16,390 15,620 Asia 3,772 5,244 Total strategic capital segment 25,246 25,710 Total segment net operating income 442,094 429,741 Reconciling items: General and administrative expenses 53,617 50,543 Depreciation and amortization expenses 226,591 250,000 Operating income 161,886 129,198 Earnings from unconsolidated entities, net 48,605 58,311 Interest expense (72,912 ) (80,812 ) Interest and other income, net 2,785 2,591 Gains on dispositions of investments in real estate, net 97,325 144,317 Foreign currency and derivative losses, net (7,400 ) (14,211 ) Losses on early extinguishment of debt, net - (1,052 ) Earnings before income taxes $ 230,289 $ 238,342 March 31, December 31, 2017 2016 Assets: Real estate operations segment: U.S. $ 21,276,254 $ 21,286,422 Other Americas 1,005,827 978,476 Europe 1,119,860 1,346,589 Asia 980,665 936,462 Total real estate operations segment 24,382,606 24,547,949 Strategic capital segment: U.S. 17,772 18,090 Europe 43,781 47,635 Asia 1,161 1,301 Total strategic capital segment 62,714 67,026 Total segment assets 24,445,320 24,614,975 Reconciling items: Investments in and advances to unconsolidated entities 4,305,881 4,230,429 Assets held for sale or contribution 439,743 322,139 Notes receivable backed by real estate 17,006 32,100 Cash and cash equivalents 395,829 807,316 Other assets 211,179 242,973 Total reconciling items 5,369,638 5,634,957 Total assets $ 29,814,958 $ 30,249,932

General - Additional Informatio

General - Additional Information (Detail) shares in Millions	3 Months Ended
	Mar. 31, 2017Segmentshares	Dec. 31, 2016Ground
General [Line Items]
Number of reportable segments | Segment	2
Percentage of common limited partnership interest	2.69%
Number of ground and office space leases | Ground		90
General Partner
General [Line Items]
Percentage of ownership in operating partnership	97.31%
Preferred [Member]
General [Line Items]
Percentage of ownership in operating partnership	100.00%
Class A Common [Member]
General [Line Items]
Class of common limited partnership units designated as class A common units | shares	8.9

Real Estate - Investments in Re

Real Estate - Investments in Real Estate Properties (Detail) ft² in Thousands, $ in Thousands	Mar. 31, 2017USD ($)ft²aBuildings	Dec. 31, 2016USD ($)ft²aBuildings
Real Estate Properties [Line Items]
Total investments in real estate properties	$ 27,131,229	$ 27,119,330
Less accumulated depreciation	3,914,817	3,758,372
Net investments in real estate properties	$ 23,216,412	$ 23,360,958
Improved Land [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	0	0
Number of buildings | Buildings	0	0
Total investments in real estate properties	$ 6,038,816	$ 6,037,543
Building and Improvements [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	329,743	331,210
Number of buildings | Buildings	1,762	1,776
Total investments in real estate properties	$ 17,911,386	$ 17,905,914
Development Portfolio, Including Cost of Land: Pre-stabilized [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	7,784	8,256
Number of buildings | Buildings	26	29
Total investments in real estate properties	$ 725,949	$ 798,233
Properties Under Development [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	19,133	19,539
Number of buildings | Buildings	54	60
Total investments in real estate properties	$ 761,509	$ 633,849
Land [Member]
Real Estate Properties [Line Items]
Square Feet | a	5,665	5,892
Total investments in real estate properties	$ 1,162,427	$ 1,218,904
Other Real Estate Investments [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	0	0
Number of buildings | Buildings	0	0
Total investments in real estate properties	$ 531,142	$ 524,887

Real Estate - Investments in 32

Real Estate - Investments in Real Estate Properties (Parenthetical) (Detail) - a	Mar. 31, 2017	Dec. 31, 2016
Land [Member]
Real Estate Properties [Line Items]
Square feet	5,665	5,892

Real Estate - Summary of Dispos

Real Estate - Summary of Dispositions (Detail) ft² in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)ft²Property	Mar. 31, 2016USD ($)ft²Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total gains on dispositions of investments in real estate, net	$ 97,325	$ 144,317
Continuing Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total gains on dispositions of investments in real estate, net	$ 97,325	$ 144,317
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 buildings | Property	5	5
Square feet | ft²	2,769	2,711
Net proceeds	$ 397,489	$ 397,895
Net gains on contributions	$ 88,366	$ 93,139
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 buildings | Property	18	27
Square feet | ft²	2,318	2,244
Net proceeds	$ 243,389	$ 280,579
Net gains on contributions	$ 8,959	$ 51,178

Unconsolidated Entities - Summa

Unconsolidated Entities - Summary of Investments in and Advances to our Unconsolidated Entities (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	$ 4,305,881	$ 4,230,429
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	4,096,173	4,057,524
Other Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	$ 209,708	$ 172,905

Unconsolidated Entities - Sum35

Unconsolidated Entities - Summary of Amounts Recognized in Consolidated Statements of Income Related to Co-Investment Ventures (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues	$ 57,045	$ 51,003
Total earnings from unconsolidated co-investment ventures, net	48,605	58,311
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues	55,934	50,315
Total earnings from unconsolidated co-investment ventures, net	45,450	47,192
Unconsolidated Co-Investment Ventures [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues	11,058	8,995
Total earnings from unconsolidated co-investment ventures, net	4,946	6,659
Unconsolidated Co-Investment Ventures [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues	6,051	5,386
Total earnings from unconsolidated co-investment ventures, net	6,570	5,299
Unconsolidated Co-Investment Ventures [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues	26,170	22,333
Total earnings from unconsolidated co-investment ventures, net	29,905	31,579
Unconsolidated Co-Investment Ventures [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues	12,655	13,601
Total earnings from unconsolidated co-investment ventures, net	$ 4,029	$ 3,655

Unconsolidated Entities - Sum36

Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Detail) - Unconsolidated Co-Investment Ventures [Member] ft² in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2017USD ($)ft²PropertyVenture	Mar. 31, 2016USD ($)ft²PropertyVenture	Dec. 31, 2016USD ($)ft²PropertyVenture
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		9	9	9
Number of operating properties owned | Property		1,382	1,348	1,367
Square feet | ft²		296	280	291
Total assets		$ 24,086	$ 23,431	$ 23,057
Third-party debt		6,678	6,396	6,546
Total liabilities		8,046	7,755	7,876
Our investment balance	[1]	4,096	4,712	$ 4,058
Revenues		500	475
Net earnings		$ 150	$ 139
U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		1	1	1
Number of operating properties owned | Property		381	381	369
Square feet | ft²		51	50	50
Total assets		$ 4,293	$ 4,382	$ 4,238
Third-party debt		1,340	1,447	1,414
Total liabilities		1,424	1,528	1,540
Our investment balance	[1]	430	688	$ 435
Revenues		104	98
Net earnings		$ 36	$ 30
Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		2	2	2
Number of operating properties owned | Property		214	206	213
Square feet | ft²		43	39	42
Total assets		$ 2,836	$ 2,600	$ 2,793
Third-party debt		737	659	739
Total liabilities		812	756	814
Our investment balance	[1]	849	817	$ 845
Revenues		64	57
Net earnings		$ 17	$ 14
Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture	[2],[3]	4	4	4
Number of operating properties owned | Property		702	688	700
Square feet | ft²		165	159	163
Total assets		$ 11,596	$ 11,538	$ 10,853
Third-party debt		2,546	2,511	2,446
Total liabilities		3,463	3,448	3,283
Our investment balance	[1]	2,353	2,759	$ 2,327
Revenues		244	244
Net earnings		$ 73	$ 73
Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Number of ventures | Venture		2	2	2
Number of operating properties owned | Property		85	73	85
Square feet | ft²		37	32	36
Total assets		$ 5,361	$ 4,911	$ 5,173
Third-party debt		2,055	1,779	1,947
Total liabilities		2,347	2,023	2,239
Our investment balance	[1]	464	448	$ 451
Revenues		88	76
Net earnings		$ 24	$ 22
Weighted Average [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	26.90%	31.10%	27.90%
Weighted Average [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	14.20%	22.50%	14.90%
Weighted Average [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	43.90%	43.70%	43.90%
Weighted Average [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	33.20%	38.50%	35.10%
Weighted Average [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[4]	15.10%	15.00%	15.10%
[1]	The difference between our ownership interest of a venture’s equity and our investment balance at March 31, 2017, and December 31, 2016, 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 ($465.3 million and $469.9 million, respectively); (ii) recording additional costs associated with our investment in a venture ($124.4 million and $124.1 million, respectively); and (iii) advances to a venture ($155.1 million and $166.1 million, respectively). Included in the advances to our ventures at March 31, 2017, and December 31, 2016, were receivables from Nippon Prologis REIT, Inc. (“NPR”) of $102.3 million and $96.9 million, respectively, related to customer security deposits that originated through a leasing company owned by us that pertain to properties owned by NPR. We have a corresponding payable to NPR’s customers in Other Liabilities.
[2]	In February 2017, we formed the Prologis United Kingdom Logistics Venture (“UKLV”), an unconsolidated co-investment venture in which we have a 15.0% ownership interest. UKLV will acquire land, develop buildings and operate and hold logistics real estate assets in the United Kingdom (“U.K.”). Upon formation, we, along with our venture partner, committed £380.0 million ($474.9 million at March 31, 2017), of which our share is £57.0 million ($71.2 million at March 31, 2017). In February 2017, we contributed a portfolio of 3.9 million square feet of stabilized properties, properties under development and land for approximately £202.9 million ($252.1 million). We expect to continue to contribute properties into UKLV as they become stabilized, along with land.
[3]	In January 2017, we sold our investment in ELV to our fund partner for $84.3 million and ELV contributed its properties to Prologis Targeted Europe Logistics Fund (“PTELF”) in exchange for equity interests.
[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 - Sum37

Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Parenthetical) (Detail) $ in Thousands, £ in Millions, ft² in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Feb. 28, 2017USD ($)ft²	Feb. 28, 2017GBP (£)ft²
Schedule Of Equity Method Investments [Line Items]
Deferred gain recognize		$ 465,300	$ 469,900
Additional costs associated with investment in a venture		124,400	124,100
Intercompany notes receivable and advances to ventures		155,100	166,100
Equity commitments		71,200			£ 57
Investments in real estate properties		27,131,229	27,119,330
Nippon Prologis REIT Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Intercompany notes receivable and advances to ventures		102,300	$ 96,900
Europe Logistics Venture 1 [Member]
Schedule Of Equity Method Investments [Line Items]
Sale of our investment	$ 84,300
Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Ownership percentage				15.00%	15.00%
Equity commitments		$ 474,900			£ 380
Prologis U.K. Logistics Venture [Member] | Stabilized Properties, Properties under Development and Land [Member]
Schedule Of Equity Method Investments [Line Items]
Square feet | ft²				3.9	3.9
Investments in real estate properties				$ 252,100	£ 202.9

Unconsolidated Entities - Sum38

Unconsolidated Entities - Summary of Remaining Equity Commitments (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 2,593
Prologis Targeted U.S. Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 6
Expiration date for remaining commitments range start	2,017
Expiration date for remaining commitments range end	2,018
Prologis Targeted Europe Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 388	[1]
Expiration date for remaining commitments range start	2,017	[1]
Expiration date for remaining commitments range end	2,018	[1]
Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 240	[2]
Expiration date for remaining commitments range start	2,021	[2]
Prologis China Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 1,959
Expiration date for remaining commitments range start	2,017
Prologis Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 330
Prologis Inc [Member] | Prologis Targeted U.S. Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	0
Prologis Inc [Member] | Prologis Targeted Europe Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	0	[1]
Prologis Inc [Member] | Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	36	[2]
Prologis Inc [Member] | Prologis China Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	294
Venture Partners [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	2,263
Venture Partners [Member] | Prologis Targeted U.S. Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	6
Venture Partners [Member] | Prologis Targeted Europe Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	388	[1]
Venture Partners [Member] | Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	204	[2]
Venture Partners [Member] | Prologis China Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 1,665
[1]	Equity commitments are denominated in euro and reported in U.S. dollars based on an exchange rate of $1.07 U.S. dollars to the euro.
[2]	As discussed above, this co-investment venture was formed in February 2017. Equity commitments are denominated in British pounds sterling and reported in U.S. dollars based on an exchange rate of $1.25 U.S. dollars to the British pound sterling.

Unconsolidated Entities - Sum39

Unconsolidated Entities - Summary of Remaining Equity Commitments (Parenthetical) (Detail)	Mar. 31, 2017$ / €$ / £
Prologis Targeted Europe Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate	1.07
Prologis European Properties Fund II [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate	1.07
Europe Logistics Venture 1 [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate	1.07
Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate | $ / £	1.25

Assets Held for Sale or Contr40

Assets Held for Sale or Contribution - Summary of Assets Held for Sale or Contribution (Detail) ft² in Thousands, $ in Thousands	Mar. 31, 2017USD ($)ft²Property	Dec. 31, 2016USD ($)ft²Property
Long Lived Assets Held For Sale [Line Items]
Total assets held for sale or contribution	$ 439,743	$ 322,139
Total liabilities associated with assets held for sale or contribution – included in Other Liabilities	$ 5,709	$ 4,984
Disposal Group Heldforsale Not Discontinued Operations
Long Lived Assets Held For Sale [Line Items]
Number of operating properties | Property	21	13
Square feet | ft²	5,292	4,167

Debt - Debt Summary (Detail)

Debt - Debt Summary (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.10%	3.20%
Debt	$ 10,966,932	$ 10,608,294
Credit Facilities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	0.00%	1.00%
Debt	$ 0	$ 35,023
Senior Notes [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.30%	3.30%
Debt	$ 6,471,112	$ 6,417,492
Term Loan [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.40%	1.40%
Debt	$ 1,825,796	$ 1,484,523
Unsecured Other Debt [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	6.10%	6.10%
Debt	$ 14,604	$ 14,478
Secured Mortgages [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	4.10%	4.90%
Debt	$ 1,945,201	$ 979,585
Secured Mortgage Debt of Consolidated Entities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.70%	3.00%
Debt	$ 710,219	$ 1,677,193

Debt - Debt Summary (Parentheti

Debt - Debt Summary (Parenthetical) (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Debt	$ 10,966,932	$ 10,608,294
Prologis North American Industrial Fund [Member]
Debt Instrument [Line Items]
Secured mortgage debt	958,900
EUR
Debt Instrument [Line Items]
Debt	3,400,000
JPY
Debt Instrument [Line Items]
Debt	1,400,000
CAD
Debt Instrument [Line Items]
Debt	400,000
GBP
Debt Instrument [Line Items]
Debt	$ 37,500

Debt - Additional Information (

Debt - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2017JPY (¥)	Feb. 28, 2017JPY (¥)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 3,398,000,000
Borrowings outstanding	0
Senior Notes Outstanding	6,500,000,000
Carrying Value of Debt	10,966,932,000			$ 10,608,294,000
2017 Yen Term Loan Tranche One [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 64,400,000	¥ 7,200,000,000
Debt Instrument maturity date	2027-03
Debt instrument interest rate	0.92%	0.92%
2017 Yen Term Loan Tranche Two [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 42,900,000	¥ 4,800,000,000
Debt Instrument maturity date	2028-03
Debt instrument interest rate	1.01%	1.01%
2017 Yen Senior Term Loan [Member]
Debt Instrument [Line Items]
Borrowings outstanding	$ 107,300,000	¥ 12,000,000,000
Term Loan [Member]
Debt Instrument [Line Items]
Carrying Value of Debt	1,825,796,000			$ 1,484,523,000
Global Facility [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	3,000,000,000
Ability to increase borrowing capacity subject to currency fluctuations and obtaining additional lender commitments	$ 3,800,000,000
Debt Instrument maturity date	2020-04
Revolver [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 581,300,000	65,000,000,000
Debt Instrument maturity date	2021-02
Credit facility current borrowing capacity	$ 447,100,000	¥ 50,000,000,000	¥ 45,000,000,000

Debt - Credit Facilities (Detai

Debt - Credit Facilities (Detail) $ in Millions	Mar. 31, 2017USD ($)
Debt Disclosure [Abstract]
Aggregate lender commitments	$ 3,398
Borrowings outstanding	0
Outstanding letters of credit	36
Current availability	$ 3,362

Debt - Long-Term Debt Maturitie

Debt - Long-Term Debt Maturities (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
2,017	$ 802,810
2,018	746,068
2,019	1,065,738
2,020	1,282,003
2,021	1,390,955
2,022	1,359,481
2,023	1,929,933
2,024	882,614
2,025	886,871
2,026	536,469
Thereafter	113,840
Subtotal	10,996,782
Premiums (discounts), net	17,095
Debt issuance costs, net	(46,945)
Totals	10,966,932	$ 10,608,294
Senior Notes [Member]
Debt Instrument [Line Items]
2,017	0
2,018	175,000
2,019	618,294
2,020	844,077
2,021	1,248,370
2,022	748,370
2,023	850,000
2,024	748,370
2,025	750,000
2,026	534,550
Thereafter	0
Subtotal	6,517,031
Premiums (discounts), net	(19,003)
Debt issuance costs, net	(26,916)
Totals	6,471,112	6,417,492
Term Loans And Other Debt [Member]
Debt Instrument [Line Items]
2,017	378,334
2,018	961
2,019	1,084
2,020	1,190
2,021	1,012
2,022	447,914
2,023	905,517
2,024	911
2,025	976
2,026	696
Thereafter	112,679
Subtotal	1,851,274
Premiums (discounts), net	0
Debt issuance costs, net	(10,874)
Totals	1,840,400	$ 1,499,001
Secured Mortgage Debt [Member]
Debt Instrument [Line Items]
2,017	424,476
2,018	570,107
2,019	446,360
2,020	436,736
2,021	141,573
2,022	163,197
2,023	174,416
2,024	133,333
2,025	135,895
2,026	1,223
Thereafter	1,161
Subtotal	2,628,477
Premiums (discounts), net	36,098
Debt issuance costs, net	(9,155)
Totals	$ 2,655,420

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017
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		3 Months Ended	12 Months Ended
		Mar. 31, 2017	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Operating Partnership noncontrolling interest		$ 2,516,015	$ 3,072,469
Noncontrolling interests		2,921,554	3,467,059
Total Assets		29,814,958	30,249,932
Total Liabilities		12,146,537	11,791,792
Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Total Assets		7,674,218	9,678,752
Total Liabilities		$ 950,126	$ 1,871,094
Prologis US Logistics Venture [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage		55.00%	55.00%
Operating Partnership noncontrolling interest		$ 2,419,744	$ 2,424,800
Total Assets		6,180,047	6,201,278
Total Liabilities		$ 810,769	$ 797,593
Prologis North American Industrial Fund [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage	[1]	100.00%	66.10%
Operating Partnership noncontrolling interest	[1]	$ 0	$ 486,648
Total Assets	[1]	0	2,479,072
Total Liabilities	[1]	$ 0	$ 1,038,708
Prologis Brazil Logistics Partners Fund I [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage	[2]	100.00%	50.00%
Operating Partnership noncontrolling interest	[2]	$ 0	$ 61,836
Total Assets	[2]	0	131,581
Total Liabilities	[2]	$ 0	$ 720
Other Consolidated Entities [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership	[3]	various	various
Operating Partnership noncontrolling interest	[3]	$ 96,271	$ 99,185
Total Assets	[3]	1,494,171	866,821
Total Liabilities	[3]	139,357	34,073
Prologis, L.P. [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		2,516,015	3,072,469
Total Assets		29,814,958	30,249,932
Total Liabilities		12,146,537	11,791,792
Prologis, L.P. [Member] | Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Limited partners in Prologis, L.P.	[4],[5]	405,539	394,590
Total Assets	[4],[5]	0	0
Total Liabilities	[4],[5]	0	0
Prologis Inc [Member]
Noncontrolling Interest [Line Items]
Total Assets		7,674,218	9,678,752
Total Liabilities		950,126	1,871,094
Prologis Inc [Member] | Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		$ 2,921,554	$ 3,467,059
[1]	In March 2017, we acquired all of our partner’s interest for $710.2 million. The difference between the amount we paid and the noncontrolling interest balance was adjusted through Additional Paid-in Capital with no gain or loss recognized.
[2]	In March 2017, we acquired all of our partner’s interest for $79.8 million. The difference between the amount we paid and the noncontrolling interest balance was adjusted through Additional Paid-in Capital with no gain or loss recognized. At December 31, 2016, the assets of the Brazil Fund were primarily investments in unconsolidated entities of $113.1 million. For additional information on our unconsolidated investments, see Note 3.
[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 March 31, 2017, and December 31, 2016, limited partnership units were redeemable for cash or, at our option, 1.8 million shares of the Parent’s common stock. In 2017, limited partnership units were redeemed for 40 thousand shares of the Parent’s common stock.
[4]	At March 31, 2017, and December 31, 2016, excluding the Class A Units, there were common limited partnership units in the Operating Partnership outstanding that were redeemable for cash or, at our option, 4.1 million shares and 4.6 million shares of the Parent’s common stock with a fair value of $214.3 million and $241.8 million, respectively, based on the closing stock price of the Parent’s common stock. During 2017, unitholders redeemed 0.6 million common limited partnership units for an equal number of shares of the Parent’s common stock with a value of $15.8 million. At March 31, 2017, and December 31, 2016, there were 3.6 million and 2.2 million LTIP Units (as defined in Note 7) outstanding, respectively, associated with our long-term compensation plan that are convertible into common units of the Operating Partnership after they vest and other applicable conditions are met.
[5]	We had 8.9 million Class A Units that were convertible into 8.6 million and 8.7 million common limited partnership units of the Operating Partnership at March 31, 2017, and December 31, 2016, respectively.

Noncontrolling Interests - No48

Noncontrolling Interests - Noncontrolling Interest Summary (Parenthetical) (Detail) - USD ($) shares in Thousands, $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Noncontrolling Interest [Line Items]
Outstanding limited partnership units, redeemed		40
Business acquisition, common limited partnership units issued		4,100	4,600
Fair value of outstanding limited partnership units	$ 214.3	$ 214.3	$ 241.8
LTIP Units [Member]
Noncontrolling Interest [Line Items]
Number of units outstanding	3,600	3,600	2,200
Class A Common [Member]
Noncontrolling Interest [Line Items]
Units outstanding	8,900	8,900	8,900
Conversion and exchange of units to shares		8,600	8,700
Common Stock [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units	1,800	1,800	1,800
Prologis North American Industrial Fund [Member]
Noncontrolling Interest [Line Items]
Acquisition of partner's interest	$ 710.2
Prologis Brazil Logistics Partners Fund I [Member]
Noncontrolling Interest [Line Items]
Acquisition of partner's interest	$ 79.8
Investments in unconsolidated entities			$ 113.1
Prologis, L.P. [Member] | Class A Common [Member] | Limited Partners [Member]
Noncontrolling Interest [Line Items]
Units outstanding	8,894	8,894	8,894
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units, redeemed		600
Units outstanding	6,032	6,032	5,323
Conversion and exchange of units to shares		(572)
Limited partners units redeemed value		$ 15.8

Long-Term Compensation - Additi

Long-Term Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2017	Mar. 31, 2017	Mar. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options outstanding		1,700,000	0
Stock options exercisable		1,700,000	0
Stock options outstanding, weighted average exercise price		$ 32.08	$ 0
Stock options exercisable, weighted average exercise price		$ 32.08	$ 0
Aggregate intrinsic value of exercised options		$ 2.6	$ 0.8
Options granted		0	0
Prologis Out-Performance Plan [Member] | 2017 – 2019 Performance Periods [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate fair value	$ 20.4
Assumed risk free interest rate	1.49%
Expected volatility rate	22.20%
Prologis Out-Performance Plan [Member] | 2014 – 2016 Performance Periods [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate of performance pool award	$ 62.2

Long-Term Compensation - Summar

Long-Term Compensation - Summary of Unvested POP LTIP Units Activity (Detail) - POP LTIP Units [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2017shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Unvested Awards, beginning balance	3,490
Granted	38
Vested POP LTIP Units (1)	(685)
Forfeited	(589)
Number of Unvested Awards, ending balance	2,254

Long-Term Compensation - RSU an

Long-Term Compensation - RSU and Performance Share Awards (Detail) shares in Thousands	3 Months Ended
	Mar. 31, 2017$ / sharesshares
LTIP Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Awards, beginning balance	2,219
Granted	841
Vested POP LTIP Units	685
Conversion to Units	(122)
Number of Awards, ending balance	3,623
Weighted Average Grant-Date Fair Value | $ / shares	$ 40.81
Weighted Average Grant-Date Fair Value, Granted | $ / shares	0
Weighted Average Grant-Date Fair Value, Vested POP LTIP Units | $ / shares	0
Weighted Average Grant-Date Fair Value, Conversion to common limited partnership units | $ / shares	0
Weighted Average Grant-Date Fair Value | $ / shares	$ 45.07
Number of Shares, Beginning Balance	743
Number of Shares, Ending Balance	1,902
RSU and PSA [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Awards, beginning balance	1,617
Granted	642
Number of Awards, ending balance	1,507
Weighted Average Grant-Date Fair Value | $ / shares	$ 40.58
Weighted Average Grant-Date Fair Value, Granted | $ / shares	0
Weighted Average Grant-Date Fair Value, Vested | $ / shares	0
Weighted Average Grant-Date Fair Value, Forfeited | $ / shares	0
Weighted Average Grant-Date Fair Value | $ / shares	$ 44.43
Number of Shares, Beginning Balance	125
Number of Shares, Ending Balance	121
Vested and distributed	(731)
Forfeited	(21)

Earnings Per Common Share or 52

Earnings Per Common Share or Unit - Computation of Basic and Diluted Earnings Per Share Unit (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ 203,255	$ 208,041
Net earnings attributable to redeemable limited partnership unitholders	(5,967)	(6,609)
Adjusted net earnings attributable to common stockholders – Diluted	$ 209,222	$ 214,650
Weighted average common shares/units outstanding – Basic	528,721	524,205
Incremental weighted average effect on redemption of limited partnership units	16,455	17,543
Incremental weighted average effect of equity awards	4,834	1,814
Weighted average common shares/partnership units outstanding - Diluted	550,010	543,562
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 0.38	$ 0.40
Diluted	$ 0.38	$ 0.39
Prologis, L.P. [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ 208,878	$ 214,275
Net earnings attributable to limited partnership unitholders	344	375
Adjusted net earnings attributable to common stockholders – Diluted	$ 209,222	$ 214,650
Weighted average common shares/units outstanding – Basic	534,685	531,070
Incremental weighted average effect on conversion of Class A Units	8,664	8,844
Incremental weighted average effect on redemption of limited partnership units	1,827	1,834
Incremental weighted average effect of equity awards	4,834	1,814
Weighted average common shares/partnership units outstanding - Diluted	550,010	543,562
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 0.38	$ 0.40
Diluted	$ 0.38	$ 0.39
Prologis, L.P. [Member] | Class A Common [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ (3,331)	$ (3,510)
Adjusted net earnings attributable to common stockholders – Diluted	3,331	3,510
Prologis, L.P. [Member] | Common Units
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ 205,547	$ 210,765

Earnings Per Common Share or 53

Earnings Per Common Share or Unit - Computation of Basic and Diluted Earnings Per Share Unit (Parenthetical) (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total potential dilutive shares and units outstanding	24,733	24,108
Prologis, L.P. [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potentially dilutive limited partnership units outstanding	10,491	10,678
Total potentially dilutive stock awards outstanding	8,278	6,565
Total potential dilutive shares and units outstanding	18,769	17,243
Total potential dilutive shares and units outstanding limited partnership	5,964	6,865

Financial Instruments and Fai54

Financial Instruments and Fair Value Measurements - Schedule of Fair Value and Classification of Derivative Instruments (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Derivatives Fair Value [Line Items]
Asset	$ 34,292	$ 47,114
Liability	5,974	1,268
Forwards and Options [Member] | GBP [Member]
Derivatives Fair Value [Line Items]
Asset	13,320	16,985
Liability	547	0
Forwards and Options [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	204	831
Liability	230	197
Forwards and Options [Member] | EUR
Derivatives Fair Value [Line Items]
Asset	8,174	10,933
Liability	0	0
Forwards and Options [Member] | JPY [Member]
Derivatives Fair Value [Line Items]
Asset	5,596	9,246
Liability	2,306	1,071
Interest Rate Hedges [Member]
Derivatives Fair Value [Line Items]
Asset	121	435
Liability	0	0
Net Investment Hedges [Member] | GBP [Member]
Derivatives Fair Value [Line Items]
Asset	6,877	7,439
Liability	1,296	0
Net Investment Hedges [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	0	1,245
Liability	$ 1,595	$ 0

Financial Instruments and Fai55

Financial Instruments and Fair Value Measurements - Schedule of Fair Value and Classification of Derivative Instruments (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Foreign Currency Options [Member]
Derivatives Fair Value [Line Items]
Unrealized losses on foreign exchange transactions	$ (13.7)	$ (16.8)

Financial Instruments and Fai56

Financial Instruments and Fair Value Measurements - Foreign Currency Contracts Activity (Detail)		3 Months Ended
		Mar. 31, 2017USD ($)DerivativeCAD / $£ / $€ / $¥ / $		Mar. 31, 2017GBP (£)DerivativeCAD / $£ / $€ / $¥ / $	Mar. 31, 2017JPY (¥)DerivativeCAD / $£ / $€ / $¥ / $	Mar. 31, 2017CADDerivativeCAD / $£ / $€ / $¥ / $	Mar. 31, 2017EUR (€)DerivativeCAD / $£ / $€ / $¥ / $	Mar. 31, 2016USD ($)		Mar. 31, 2016GBP (£)	Mar. 31, 2016JPY (¥)	Mar. 31, 2016CAD	Mar. 31, 2016EUR (€)
CAD
Derivative [Line Items]
Notional amounts at January 1		$ 38,000,000				CAD 50,000,000
New contracts		0				0
Matured, expired or settled contracts		(6,000,000)				(7,000,000)
Notional amounts at March 31		$ 32,000,000				CAD 43,000,000
Weighted average forward rate at March 31 | CAD / $		1.32		1.32	1.32	1.32	1.32
Active contracts at March 31		14		14	14	14	14
Net Investment Hedges [Member] | CAD
Derivative [Line Items]
Notional amounts at January 1		$ 100,000,000				CAD 133,000,000		$ 0				CAD 0
New contracts		99,000,000				133,000,000		100,000,000				133,000,000
Matured, expired or settled contracts		(100,000,000)				(133,000,000)		0				0
Notional amounts at March 31		$ 99,000,000				CAD 133,000,000		100,000,000				CAD 133,000,000
Weighted average forward rate at March 31 | CAD / $		1.33		1.33	1.33	1.33	1.33
Active contracts at March 31		2		2	2	2	2
Net Investment Hedges [Member] | GBP [Member]
Derivative [Line Items]
Notional amounts at January 1		$ 46,000,000		£ 31,000,000				386,000,000		£ 238,000,000
New contracts		127,000,000		100,000,000				0		0
Matured, expired or settled contracts		0		0				0		0
Notional amounts at March 31		$ 173,000,000		£ 131,000,000				386,000,000		238,000,000
Weighted average forward rate at March 31 | £ / $		1.32		1.32	1.32	1.32	1.32
Active contracts at March 31		4		4	4	4	4
Net Investment Hedges [Member] | JPY
Derivative [Line Items]
Notional amounts at January 1								0			¥ 0
New contracts								99,000,000			11,189,000,000
Matured, expired or settled contracts								(99,000,000)			(11,189,000,000)
Notional amounts at March 31								0			0
Foreign Currency Contracts [Member] | GBP [Member]
Derivative [Line Items]
Notional amounts at January 1		$ 78,000,000	[1]	£ 48,000,000				148,000,000	[1]	97,000,000
New contracts		80,000,000	[1]	63,000,000				0	[1]	0
Matured, expired or settled contracts		(22,000,000)	[1]	(15,000,000)				(18,000,000)	[1]	(12,000,000)
Notional amounts at March 31		$ 136,000,000	[1]	£ 96,000,000				130,000,000	[1]	£ 85,000,000
Weighted average forward rate at March 31 | £ / $		1.37		1.37	1.37	1.37	1.37
Active contracts at March 31		17		17	17	17	17
Foreign Currency Contracts [Member] | JPY
Derivative [Line Items]
Notional amounts at January 1		$ 144,000,000	[1]		¥ 15,500,000,000			109,000,000	[1]		12,840,000,000
New contracts		19,000,000	[1]		2,000,000,000			36,000,000	[1]		4,000,000,000
Matured, expired or settled contracts		(16,000,000)	[1]		(1,750,000,000)			(13,000,000)	[1]		(1,460,000,000)
Notional amounts at March 31		$ 147,000,000	[1]		¥ 15,750,000,000			132,000,000	[1]		¥ 15,380,000,000
Weighted average forward rate at March 31 | ¥ / $		107.19		107.19	107.19	107.19	107.19
Active contracts at March 31		31		31	31	31	31
Foreign Currency Contracts [Member] | EUR
Derivative [Line Items]
Notional amounts at January 1		$ 197,000,000	[1]				€ 174,000,000	310,000,000	[1]				€ 275,000,000
New contracts		36,000,000	[1]				32,000,000	68,000,000	[1]				60,000,000
Matured, expired or settled contracts		(30,000,000)	[1]				(26,000,000)	(51,000,000)	[1]				(45,000,000)
Notional amounts at March 31		$ 203,000,000	[1]				€ 180,000,000	327,000,000	[1]				€ 290,000,000
Weighted average forward rate at March 31 | € / $		1.13		1.13	1.13	1.13	1.13
Active contracts at March 31		25		25	25	25	25
Foreign Currency Contracts [Member] | USD [Member]
Derivative [Line Items]
Notional amounts at January 1 | $	[1]							50,000,000
New contracts | $	[1]							9,000,000
Matured, expired or settled contracts | $	[1]							(8,000,000)
Notional amounts at March 31 | $	[1]							$ 51,000,000
[1]	During the three months ended March 31, 2017, and 2016, we exercised 11 and 8 option contracts and realized gains of $5.3 million and $1.7 million, respectively, in Foreign Currency and Derivative Losses, Net.

Financial Instruments and Fai57

Financial Instruments and Fair Value Measurements - Foreign Currency Contracts Activity (Parenthetical) (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)Contracts	Mar. 31, 2016USD ($)Contracts
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Number of option contracts exercised | Contracts	11	8
Gains (losses) from option contracts exercised | $	$ 5.3	$ 1.7

Financial Instruments and Fai58

Financial Instruments and Fair Value Measurements - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017USD ($)Derivative	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)Derivative
Derivatives Fair Value [Line Items]
Hedge ineffectiveness	$ 0	$ 0
Number of interest rate swaps hedges outstanding | Derivative	3		3
Derivative contract entered or settlement of interest rate swaps	$ 0	0
Foreign currency translation gains (losses)	81,900,000	$ 154,800,000
Interest Rate Swaps [Member]
Derivatives Fair Value [Line Items]
Notional value of derivative	$ 271,200,000		$ 271,200,000

Financial Instruments and Fai59

Financial Instruments and Fair Value Measurements - Summary of Gains (Losses) From Change in Fair Value of Derivative Instruments Included in Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative instruments	$ 4,925	$ (7,984)
Total derivative and nonderivative hedging instruments	(39,601)	(169,173)
Designated As Hedging Instrument [Member] | Derivative Net Investment Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative instruments	2,294	7,908
Designated As Hedging Instrument [Member] | Interest Rate and Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative instruments	429	(11,121)
Designated As Hedging Instrument [Member] | Our Share of Derivatives from Unconsolidated Co-Investment Ventures [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative instruments	2,202	(4,771)
Non-Derivative Net Investment Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Nonderivative net investment hedges	$ (44,526)	$ (161,189)

Financial Instruments and Fai60

Financial Instruments and Fair Value Measurements - Summary of Gains (Losses) From Change in Fair Value of Derivative Instruments Included in Other Comprehensive Income (Parenthetical) (Detail) € in Billions	3 Months Ended		12 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017EUR (€)	Dec. 31, 2016USD ($)	Dec. 31, 2016EUR (€)
Derivative Instruments Gain Loss [Line Items]
Amount received from (paid for) on settlement of net investment hedges	$ 1,800,000	$ 900,000
Interest expense reclassified	72,912,000	80,812,000
Debt	10,966,932,000				$ 10,608,294,000
Amount of gain (loss) included in AOCI	39,667,000	1,461,000
Forward Contracts
Derivative Instruments Gain Loss [Line Items]
Amount of gain (loss) included in AOCI	(4,100,000)	0
Designated As Hedging Instrument [Member] | Forward Contracts
Derivative Instruments Gain Loss [Line Items]
Debt	3,400,000,000			€ 3.2	$ 3,400,000,000	€ 3.2
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Derivative Instruments Gain Loss [Line Items]
Interest expense reclassified	$ 1,400,000	$ 1,000,000
Scenario Forecast | Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Derivative Instruments Gain Loss [Line Items]
Interest expense reclassified			$ 5,500,000

Financial Instruments and Fai61

Financial Instruments and Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	$ 10,966,932	$ 10,608,294
Fair Value of Debt	11,559,459	11,219,716
Credit Facilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	0	35,023
Fair Value of Debt	0	35,061
Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	6,471,112	6,417,492
Fair Value of Debt	6,967,522	6,935,485
Term Loans and Unsecured Other Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	1,840,400	1,499,001
Fair Value of Debt	1,857,013	1,510,661
Secured Mortgages [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	1,945,201	979,585
Fair Value of Debt	2,025,183	1,055,020
Secured Mortgage of Consolidated Entities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	710,219	1,677,193
Fair Value of Debt	$ 709,741	$ 1,683,489

Business Segments - Additional

Business Segments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2017Segment
Segment Reporting [Abstract]
Number of operating segments	2

Business Segments - Segment Rep

Business Segments - Segment Reporting, Reconciliation of Revenues, Operating Income and Assets (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total revenues	$ 629,155	$ 606,300
Operating income	161,886	129,198
General and administrative expenses	53,617	50,543
Depreciation and amortization expenses	226,591	250,000
Earnings from unconsolidated entities, net	48,605	58,311
Interest expense	(72,912)	(80,812)
Interest and other income, net	2,785	2,591
Gains on dispositions of investments in real estate, net	97,325	144,317
Foreign currency and derivative losses, net	(7,400)	(14,211)
Losses on early extinguishment of debt, net	0	(1,052)
Earnings before income taxes	230,289	238,342
Total assets	29,814,958		$ 30,249,932
Investments in and advances to unconsolidated entities	4,305,881		4,230,429
Assets held for sale or contribution	439,743		322,139
Notes receivable backed by real estate	17,006		32,100
Cash and cash equivalents	395,829	369,737	807,316	$ 264,080
Other assets	1,440,087		1,496,990
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenues	629,155	606,300
Operating income	442,094	429,741
Total assets	24,445,320		24,614,975
Operating Segments [Member] | Real Estate Operations Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	572,110	555,297
Operating income	416,848	404,031
Total assets	24,382,606		24,547,949
Operating Segments [Member] | Strategic Capital Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	57,045	51,003
Operating income	25,246	25,710
Total assets	62,714		67,026
Operating Segments [Member] | U.S. [Member] | Real Estate Operations Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	524,147	511,157
Operating income	384,100	375,717
Total assets	21,276,254		21,286,422
Operating Segments [Member] | U.S. [Member] | Strategic Capital Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	11,908	9,356
Operating income	1,939	1,710
Total assets	17,772		18,090
Operating Segments [Member] | Other Americas [Member] | Real Estate Operations Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	15,089	13,935
Operating income	9,982	8,193
Total assets	1,005,827		978,476
Operating Segments [Member] | Other Americas [Member] | Strategic Capital Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	6,051	5,386
Operating income	3,145	3,136
Operating Segments [Member] | Europe [Member] | Real Estate Operations Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	18,231	16,475
Operating income	12,858	11,305
Total assets	1,119,860		1,346,589
Operating Segments [Member] | Europe [Member] | Strategic Capital Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	26,262	22,583
Operating income	16,390	15,620
Total assets	43,781		47,635
Operating Segments [Member] | Asia [Member] | Real Estate Operations Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	14,643	13,730
Operating income	9,908	8,816
Total assets	980,665		936,462
Operating Segments [Member] | Asia [Member] | Strategic Capital Segment [Member]
Segment Reporting Information [Line Items]
Total revenues	12,824	13,678
Operating income	3,772	5,244
Total assets	1,161		1,301
Reconciling Items [Member]
Segment Reporting Information [Line Items]
Operating income	161,886	129,198
General and administrative expenses	53,617	50,543
Depreciation and amortization expenses	226,591	250,000
Earnings from unconsolidated entities, net	48,605	58,311
Interest expense	(72,912)	(80,812)
Interest and other income, net	2,785	2,591
Gains on dispositions of investments in real estate, net	97,325	144,317
Foreign currency and derivative losses, net	(7,400)	(14,211)
Losses on early extinguishment of debt, net	0	$ (1,052)
Total assets	5,369,638		5,634,957
Investments in and advances to unconsolidated entities	4,305,881		4,230,429
Assets held for sale or contribution	439,743		322,139
Notes receivable backed by real estate	17,006		32,100
Cash and cash equivalents	395,829		807,316
Other assets	$ 211,179		$ 242,973

Supplemental Cash Flow Inform64

Supplemental Cash Flow Information - Additional Information (Detail) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Supplemental Cash Flow Information [Line Items]
Capitalization for equity based compensation expense	$ 7	$ 6.2
Outstanding limited partnership units, redeemed	40
Interest paid, net of amounts capitalized	$ 111.5	$ 117.2
Cash paid for income taxes, net of refunds	15.2
Unconsolidated Entities [Member]
Supplemental Cash Flow Information [Line Items]
Equity ownership interest received	$ 10.2
Limited Partners [Member] | Prologis, L.P. [Member] | Common [Member]
Supplemental Cash Flow Information [Line Items]
Outstanding limited partnership units, redeemed	600