Prologis 10-Q 24 Apr 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 19, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
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		533,237,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Investments in real estate properties	$ 25,876,002	$ 25,838,644
Less accumulated depreciation	4,199,159	4,059,348
Net investments in real estate properties	21,676,843	21,779,296
Investments in and advances to unconsolidated entities	5,675,999	5,496,450
Assets held for sale or contribution	473,154	342,060
Notes receivable backed by real estate	0	34,260
Net investments in real estate	27,825,996	27,652,066
Cash and cash equivalents	458,099	447,046
Other assets	1,387,390	1,381,963
Total assets	29,671,485	29,481,075
Liabilities:
Debt	9,460,177	9,412,631
Accounts payable and accrued expenses	692,853	702,804
Other liabilities	730,335	659,899
Total liabilities	10,883,365	10,775,334
Prologis, Inc. stockholders’ equity:
Series Q preferred stock at stated liquidation preference of $50 per share; $0.01 par value; 1,379 shares issued and outstanding and 100,000 preferred shares authorized at March 31, 2018 and December 31, 2017	68,948	68,948
Common stock; $0.01 par value; 533,107 shares and 532,186 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively	5,331	5,322
Additional paid-in capital	19,303,909	19,363,007
Accumulated other comprehensive loss	(903,343)	(901,658)
Distributions in excess of net earnings	(2,794,770)	(2,904,461)
Total Prologis, Inc. stockholders’ equity	15,680,075	15,631,158
Partners' capital:
Noncontrolling interests	3,108,045	3,074,583
Total equity	18,788,120	18,705,741
Total liabilities and equity	29,671,485	29,481,075
Prologis, L.P. [Member]
ASSETS
Investments in real estate properties	25,876,002	25,838,644
Less accumulated depreciation	4,199,159	4,059,348
Net investments in real estate properties	21,676,843	21,779,296
Investments in and advances to unconsolidated entities	5,675,999	5,496,450
Assets held for sale or contribution	473,154	342,060
Notes receivable backed by real estate	0	34,260
Net investments in real estate	27,825,996	27,652,066
Cash and cash equivalents	458,099	447,046
Other assets	1,387,390	1,381,963
Total assets	29,671,485	29,481,075
Liabilities:
Debt	9,460,177	9,412,631
Accounts payable and accrued expenses	692,853	702,804
Other liabilities	730,335	659,899
Total liabilities	10,883,365	10,775,334
Partners' capital:
Total partners’ capital	16,145,086	16,045,499
Noncontrolling interests	2,643,034	2,660,242
Total capital	18,788,120	18,705,741
Total liabilities and equity	29,671,485	29,481,075
Prologis, L.P. [Member] | Preferred [Member]
Partners' capital:
General partner	68,948	68,948
Prologis, L.P. [Member] | Common [Member]
Partners' capital:
General partner	15,611,127	15,562,210
Limited partners	216,575	165,401
Prologis, L.P. [Member] | Class A Common [Member]
Partners' capital:
Limited partners	$ 248,436	$ 248,940

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
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	1,379,000	1,379,000
Preferred stock, shares outstanding	1,379,000	1,379,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	533,107,000	532,186,000
Common stock, shares outstanding	533,107,000	532,186,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues:
Rental	$ 427,901	$ 439,884
Rental recoveries	128,042	127,049
Strategic capital	132,961	57,045
Development management and other	4,752	5,177
Total revenues	693,656	629,155
Expenses:
Rental	142,941	152,656
Strategic capital	43,860	31,799
General and administrative	62,428	53,617
Depreciation and amortization	204,081	226,591
Other	3,239	2,606
Total expenses	456,549	467,269
Operating income	237,107	161,886
Other income (expense):
Earnings from unconsolidated entities, net	62,656	48,605
Interest expense	(47,245)	(72,912)
Interest and other income, net	1,976	2,785
Gains on dispositions of investments in real estate, net	195,111	97,325
Foreign currency and derivative losses, net	(41,094)	(7,400)
Total other income	171,404	68,403
Earnings before income taxes	408,511	230,289
Total income tax expense	16,552	9,600
Consolidated net earnings	391,959	220,689
Less net earnings attributable to noncontrolling interests	24,581	15,760
Net earnings attributable to controlling interests	367,378	204,929
Less preferred stock/unit dividends/distributions	1,476	1,674
Net earnings attributable to common stockholders/unitholders	$ 365,902	$ 203,255
Weighted average common shares/units outstanding - Basic	532,185	528,721
Weighted average common shares/units outstanding - Diluted	554,123	550,010
Net earnings per share attributable to common stockholders/unitholders - Basic	$ 0.69	$ 0.38
Net earnings per share attributable to common stockholders/unitholders - Diluted	0.68	0.38
Dividends per common share or unit	$ 0.48	$ 0.44
Prologis, L.P. [Member]
Revenues:
Rental	$ 427,901	$ 439,884
Rental recoveries	128,042	127,049
Strategic capital	132,961	57,045
Development management and other	4,752	5,177
Total revenues	693,656	629,155
Expenses:
Rental	142,941	152,656
Strategic capital	43,860	31,799
General and administrative	62,428	53,617
Depreciation and amortization	204,081	226,591
Other	3,239	2,606
Total expenses	456,549	467,269
Operating income	237,107	161,886
Other income (expense):
Earnings from unconsolidated entities, net	62,656	48,605
Interest expense	(47,245)	(72,912)
Interest and other income, net	1,976	2,785
Gains on dispositions of investments in real estate, net	195,111	97,325
Foreign currency and derivative losses, net	(41,094)	(7,400)
Total other income	171,404	68,403
Earnings before income taxes	408,511	230,289
Total income tax expense	16,552	9,600
Consolidated net earnings	391,959	220,689
Less net earnings attributable to noncontrolling interests	14,058	10,137
Net earnings attributable to controlling interests	377,901	210,552
Less preferred stock/unit dividends/distributions	1,476	1,674
Net earnings attributable to common stockholders/unitholders	$ 376,425	$ 208,878
Weighted average common shares/units outstanding - Basic	538,977	534,685
Weighted average common shares/units outstanding - Diluted	554,123	550,010
Net earnings per share attributable to common stockholders/unitholders - Basic	$ 0.69	$ 0.38
Net earnings per share attributable to common stockholders/unitholders - Diluted	0.68	0.38
Dividends per common share or unit	$ 0.48	$ 0.44

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Consolidated net earnings	$ 391,959	$ 220,689
Other comprehensive income (loss):
Foreign currency translation gains, net	4,770	39,667
Unrealized gains (losses) on derivative contracts, net	(6,287)	2,631
Comprehensive income	390,442	262,987
Net earnings attributable to noncontrolling interests	(24,581)	(15,760)
Other comprehensive income attributable to noncontrolling interests	(168)	(48,107)
Comprehensive income attributable to common stockholders / unitholders	365,693	199,120
Prologis, L.P. [Member]
Consolidated net earnings	391,959	220,689
Other comprehensive income (loss):
Foreign currency translation gains, net	4,770	39,667
Unrealized gains (losses) on derivative contracts, net	(6,287)	2,631
Comprehensive income	390,442	262,987
Net earnings attributable to noncontrolling interests	(14,058)	(10,137)
Other comprehensive income attributable to noncontrolling interests	(219)	(48,267)
Comprehensive income attributable to common stockholders / unitholders	$ 376,165	$ 204,583

Consolidated Statement of Equit

Consolidated Statement of Equity - 3 months ended Mar. 31, 2018 - 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, 2017	$ 18,705,741	$ 68,948	$ 5,322	$ 19,363,007	$ (901,658)	$ (2,904,461)	$ 3,074,583
Balance, shares at Dec. 31, 2017	532,186		532,186
Consolidated net earnings	$ 391,959					367,378	24,581
Effect of equity compensation plans	6,057		$ 9	(5,357)			11,405
Effect of equity compensation plans, shares			921
Capital contributions	850						850
Redemption of noncontrolling interests	(15,776)			(1,131)			(14,645)
Foreign currency translation gains, net	4,770				4,420		350
Unrealized losses on derivative contracts, net	(6,287)				(6,105)		(182)
Reallocation of equity				(52,505)			52,505
Distributions and other	(299,194)			(105)		(257,687)	(41,402)
Balance at Mar. 31, 2018	$ 18,788,120	$ 68,948	$ 5,331	$ 19,303,909	$ (903,343)	$ (2,794,770)	$ 3,108,045
Balance, shares at Mar. 31, 2018	533,107		533,107

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities:
Consolidated net earnings	$ 391,959	$ 220,689
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(15,060)	(25,497)
Equity-based compensation awards	19,996	18,380
Depreciation and amortization	204,081	226,591
Earnings from unconsolidated entities, net	(62,656)	(48,605)
Operating distributions from unconsolidated entities	85,229	77,347
Decrease (increase) in operating receivables from unconsolidated entities	(67,223)	3,880
Amortization of debt discounts (premiums), net of debt issuance costs	3,014	(2,905)
Gains on dispositions of investments in real estate, net	(195,111)	(97,325)
Unrealized foreign currency and derivative losses, net	34,145	12,078
Deferred income tax expense (benefit)	(2,064)	2,439
Decrease (increase) in accounts receivable and other assets	(2,705)	33,470
Decrease in accounts payable and accrued expenses and other liabilities	(44,364)	(67,748)
Net cash provided by operating activities	349,241	352,794
Investing activities:
Real estate development	(365,837)	(320,986)
Real estate acquisitions	(112,621)	(132,358)
Tenant improvements and lease commissions on previously leased space	(28,027)	(40,278)
Property improvements	(10,456)	(10,851)
Proceeds from dispositions and contributions of real estate properties	579,429	542,192
Investments in and advances to unconsolidated entities	(52,131)	(106,658)
Return of investment from unconsolidated entities	111,211	108,543
Proceeds from repayment of notes receivable backed by real estate	34,260	15,094
Proceeds from the settlement of net investment hedges	0	1,789
Payments on the settlement of net investment hedges	(3,966)	0
Net cash provided by investing activities	151,862	56,487
Financing activities:
Proceeds from issuance of common stock/units	1,233	1,899
Dividends/distributions paid on common and preferred stock/units	(257,687)	(235,072)
Noncontrolling interests contributions	850	0
Noncontrolling interests distributions	(41,402)	(35,989)
Settlement of noncontrolling interests	(15,776)	(789,803)
Tax paid for shares withheld	(26,479)	(19,179)
Debt and equity issuance costs paid	(1,002)	(735)
Net proceeds from (payments on) credit facilities	12,138	(33,745)
Repurchase and payments of debt	(696,011)	(201,800)
Proceeds from issuance of debt	528,167	485,496
Net cash used in financing activities	(495,969)	(828,928)
Effect of foreign currency exchange rate changes on cash	5,919	8,160
Net increase (decrease) in cash and cash equivalents	11,053	(411,487)
Cash and cash equivalents, beginning of period	447,046	807,316
Cash and cash equivalents, end of period	458,099	395,829
Prologis, L.P. [Member]
Operating activities:
Consolidated net earnings	391,959	220,689
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(15,060)	(25,497)
Equity-based compensation awards	19,996	18,380
Depreciation and amortization	204,081	226,591
Earnings from unconsolidated entities, net	(62,656)	(48,605)
Operating distributions from unconsolidated entities	85,229	77,347
Decrease (increase) in operating receivables from unconsolidated entities	(67,223)	3,880
Amortization of debt discounts (premiums), net of debt issuance costs	3,014	(2,905)
Gains on dispositions of investments in real estate, net	(195,111)	(97,325)
Unrealized foreign currency and derivative losses, net	34,145	12,078
Deferred income tax expense (benefit)	(2,064)	2,439
Decrease (increase) in accounts receivable and other assets	(2,705)	33,470
Decrease in accounts payable and accrued expenses and other liabilities	(44,364)	(67,748)
Net cash provided by operating activities	349,241	352,794
Investing activities:
Real estate development	(365,837)	(320,986)
Real estate acquisitions	(112,621)	(132,358)
Tenant improvements and lease commissions on previously leased space	(28,027)	(40,278)
Property improvements	(10,456)	(10,851)
Proceeds from dispositions and contributions of real estate properties	579,429	542,192
Investments in and advances to unconsolidated entities	(52,131)	(106,658)
Return of investment from unconsolidated entities	111,211	108,543
Proceeds from repayment of notes receivable backed by real estate	34,260	15,094
Proceeds from the settlement of net investment hedges	0	1,789
Payments on the settlement of net investment hedges	(3,966)	0
Net cash provided by investing activities	151,862	56,487
Financing activities:
Proceeds from issuance of common stock/units	1,233	1,899
Dividends/distributions paid on common and preferred stock/units	(268,143)	(244,497)
Noncontrolling interests contributions	850	0
Noncontrolling interests distributions	(30,946)	(26,564)
Settlement of noncontrolling interests	(2,520)	(789,803)
Tax paid for shares withheld	(26,479)	(19,179)
Debt and equity issuance costs paid	(1,002)	(735)
Net proceeds from (payments on) credit facilities	12,138	(33,745)
Repurchase and payments of debt	(696,011)	(201,800)
Proceeds from issuance of debt	528,167	485,496
Net cash used in financing activities	(495,969)	(828,928)
Redemption of common limited partnership units	(13,256)	0
Effect of foreign currency exchange rate changes on cash	5,919	8,160
Net increase (decrease) in cash and cash equivalents	11,053	(411,487)
Cash and cash equivalents, beginning of period	447,046	807,316
Cash and cash equivalents, end of period	$ 458,099	$ 395,829

Consolidated Statements of Capi

Consolidated Statements of Capital shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)shares
Consolidated net earnings	$ 391,959
Effect of equity compensation plans	6,057
Capital contributions	850
Redemption of noncontrolling interests	(15,776)
Unrealized losses on derivative contracts, net	(6,287)
Non-controlling Interests [Member]
Consolidated net earnings	24,581
Effect of equity compensation plans	11,405
Capital contributions	850
Redemption of noncontrolling interests	(14,645)
Unrealized losses on derivative contracts, net	$ (182)
Class A Common [Member]
Beginning balance, Units | shares	8,900
Ending balance, Units | shares	8,900
Prologis, L.P. [Member]
Beginning balance	$ 18,705,741
Consolidated net earnings	391,959
Effect of equity compensation plans	6,057
Capital contributions	850
Redemption of noncontrolling interests	(2,520)
Redemption of limited partners units	(13,256)
Foreign currency translation gains, net	4,770
Unrealized losses on derivative contracts, net	(6,287)
Distributions and other	(299,194)
Ending balance	18,788,120
Prologis, L.P. [Member] | Non-controlling Interests [Member]
Beginning balance	2,660,242
Consolidated net earnings	14,058
Capital contributions	850
Redemption of noncontrolling interests	(1,389)
Foreign currency translation gains, net	219
Distributions and other	(30,946)
Ending balance	2,643,034
Prologis, L.P. [Member] | Preferred [Member] | General Partner
Beginning balance	$ 68,948
Beginning balance, Units | shares	1,379
Ending balance	$ 68,948
Ending balance, Units | shares	1,379
Prologis, L.P. [Member] | Common [Member] | General Partner
Beginning balance	$ 15,562,210
Beginning balance, Units | shares	532,186
Consolidated net earnings	$ 367,378
Effect of equity compensation plans	$ (5,348)
Effect of equity compensation plans, shares | shares	921
Redemption of noncontrolling interests	$ (1,131)
Foreign currency translation gains, net	4,420
Unrealized losses on derivative contracts, net	(6,105)
Reallocation of capital	(52,505)
Distributions and other	(257,792)
Ending balance	$ 15,611,127
Ending balance, Units | shares	533,107
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Beginning balance	$ 165,401
Beginning balance, Units | shares	5,656
Consolidated net earnings	$ 4,670
Effect of equity compensation plans	$ 11,405
Effect of equity compensation plans, shares | shares	1,953
Redemption of limited partners units	$ (13,256)
Redemption of limited partnership units, Unit | shares	(213)
Foreign currency translation gains, net	$ 61
Unrealized losses on derivative contracts, net	(85)
Reallocation of capital	53,084
Distributions and other	(4,705)
Ending balance	$ 216,575
Ending balance, Units | shares	7,396
Prologis, L.P. [Member] | Class A Common [Member] | Limited Partners [Member]
Beginning balance	$ 248,940
Beginning balance, Units | shares	8,894
Consolidated net earnings	$ 5,853
Foreign currency translation gains, net	70
Unrealized losses on derivative contracts, net	(97)
Reallocation of capital	(579)
Distributions and other	(5,751)
Ending balance	$ 248,436
Ending balance, Units | shares	8,894

General

General	3 Months Ended
	Mar. 31, 2018
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” or “OP”). Through the OP, we are engaged in the ownership, acquisition, development and management of logistics facilities with a focus on high-barrier, high-growth markets in 19 countries. We invest in real estate through wholly owned subsidiaries and other entities through which we co-invest with partners and investors. We maintain a significant level of ownership in these co-investment ventures, which may be consolidated or unconsolidated based on our level of control of the entity. Our current business strategy consists of two operating business segments: Real Estate Operations and Strategic Capital. Our Real Estate Operations segment represents the ownership and development of logistics properties. Our Strategic Capital segment represents the management of unconsolidated co-investment ventures. 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 OP. The terms “the Company,” “Prologis,” “we,” “our” or “us” means the Parent and OP collectively. For each share of preferred or common stock the Parent issues, the OP issues a corresponding preferred or common partnership unit, as applicable, to the Parent in exchange for the contribution of the proceeds from the stock issuance. At March 31, 2018, the Parent owned 97.11% common general partnership interest in the OP and 100% of the preferred units in the OP. The remaining 2.89% common limited partnership interests, which include 8.9 million Class A common limited partnership units (“Class A Units”) in the OP, are owned by unaffiliated investors and certain current and former directors and officers of the Parent. Each partner’s percentage interest in the OP is determined based on the number of OP units held, including the number of OP units into which Class A Units are convertible, compared to total OP units outstanding at each period end and is used as the basis for the allocation of net income or loss to each partner. At the end of each reporting period, a capital adjustment is made in the OP to reflect the appropriate ownership interest for each of the common unitholders. These adjustments are reflected in the line items Reallocation of Equity Reallocation of Capital As the sole general partner of the OP, the Parent has complete responsibility and discretion in the day-to-day management and control of the OP and we operate the Parent and the OP as one enterprise. The management of the Parent consists of the same members as the management of the OP. These members are officers of the Parent and employees of the OP or one of its subsidiaries. As general partner with control of the OP, the Parent is the primary beneficiary and therefore consolidates the OP. Because the Parent’s only significant asset is its investment in the OP, the assets and liabilities of the Parent and the OP are the same on their respective financial statements. 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 note 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 OP 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 year ended December 31, 2017, as filed with the SEC, and other public information. New Accounting Pronouncements. New Accounting Standards Adopted Revenue Recognition . In May 2014, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update (“ASU”) 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. In February 2017, the FASB issued an additional ASU that provides the accounting treatment for gains and losses from the derecognition of non-financial assets, including the accounting for partial sales of real estate properties. We adopted the revenue recognition and derecognition of non-financial assets standards (collectively “the new revenue recognition standard”) on January 1, 2018, on a modified retrospective basis. Rental revenues and recoveries earned from leasing our operating properties are excluded from this standard and will be assessed with the adoption of the lease ASU discussed below. Our evaluation under the new revenue recognition standard included recurring and transactional fees and incentive fees (“promotes” or “promote revenues”) earned from our co-investment ventures as well as dispositions and contributions of real estate properties. There is no change in our recognition of recurring and transactional fees as we will continue to recognize these fees as we provide the services. Promote revenues are earned based on a venture’s cumulative returns over a certain time-period and the returns are determined by both the operating performance and real estate valuation of the venture, including highly variable inputs such as capitalization rates, interest rates and foreign currency exchange rates. As these key inputs are highly volatile and out of our control, and such volatility can materially impact our promotes period over period, we expect promote revenues will continue to be recognized at or near the end of the performance period. Accordingly, we do not expect significant changes in promote revenue recognition as a result of this ASU. For dispositions of real estate properties to third parties, the standard will not impact the recognition of the sale. Beginning January 1, 2018, we recognized the entire gain attributed to contributions of real estate properties to unconsolidated entities. We previously recognized a gain on contribution only to the extent of the third-party ownership in the unconsolidated entity acquiring the property and deferred the portion of the gain related to our ownership. We adopted the practical expedient to only assess the recognition of revenue for open contracts during the transition period and there was no adjustment to the opening balance of retained earnings at January 1, 2018. The comparative information has not been restated and continues to be reported under the accounting standards in effect for that period. New Accounting Standards Issued but not yet Adopted Leases. In February 2016, the FASB issued an ASU that provides the principles for the recognition, measurement, presentation and disclosure of leases. • As a lessor. 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, these costs are capitalizable and therefore this new standard will result in certain of these costs being expensed as incurred after adoption. During the three months ended March 31, 2018 and 2017, we capitalized $5.4 million and $6.5 million, respectively, of internal costs related to our leasing activities. This standard may also impact the timing, recognition, presentation and disclosures related to our rental recoveries from tenants earned from leasing our operating properties, although we do not expect a significant impact. • As a lessee. 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 (“ROU”) 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 of ground leases and office space leases. At December 31, 2017, we had approximately 90 ground and office space leases that will require us to measure and record a ROU 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, 2017. Details of our future minimum rental payments under these ground and office space leases are disclosed in Note 4 to the Annual Report on Form 10-K for the year ended December 31, 2017. The standard is effective for us on January 1, 2019. We expect to adopt the practical expedients available for implementation under the standard. By adopting these practical expedients, we will 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 existing leases; and (iii) whether costs previously capitalized as initial direct costs would continue to be amortized. This allows us to continue to account for our ground and office space leases as operating leases, however, any new or renewed ground leases may be classified as financing leases unless they meet certain conditions to be considered a lease involving facilities owned by a government unit or authority. The standard will also require new disclosures within the accompanying notes to the Consolidated Financial Statements. While we are well into our analysis of the adoption, we will continue to evaluate the key drivers in the measurement of the ROU asset and lease liability and assess the impact the adoption will have on the Consolidated Financial Statements based on industry practice and potential updates to the ASU. Derivatives and Hedging . In August 2017, the FASB issued an ASU that simplifies the application of hedge accounting guidance in current GAAP and improves the reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its consolidated financial statements. Among the simplification updates, the standard eliminates the requirement in current GAAP to separately recognize periodic hedge ineffectiveness. Mismatches between the changes in value of the hedged item and hedging instrument may still occur but they will no longer be separately reported. The standard requires the presentation of the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is reported. The standard is effective for us on January 1, 2019, but early adoption is permitted. We do not expect the adoption of this standard to have a material impact on the Consolidated Financial Statements.

Real Estate

Real Estate	3 Months Ended
	Mar. 31, 2018
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, 2018 2017 2018 2017 2018 2017 Operating properties: Buildings and improvements 290,474 294,811 1,511 1,525 $ 16,720,688 $ 16,849,349 Improved land 5,700,945 5,735,978 Development portfolio, including land costs: Prestabilized 6,512 7,345 22 22 501,772 546,173 Properties under development 23,116 22,216 62 63 1,195,715 1,047,316 Land (1) 1,231,759 1,154,383 Other real estate investments (2) 525,123 505,445 Total investments in real estate properties 25,876,002 25,838,644 Less accumulated depreciation 4,199,159 4,059,348 Net investments in real estate properties $ 21,676,843 $ 21,779,296 (1) Included in our investments in real estate at March 31, 2018 and December 31, 2017, were 5,224 and 5,191 acres of land, respectively. During the three months ended March 31, 2018, we acquired 379 acres of land for $134.9 million. (2) Included in other real estate investments were: (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 (dollars and square feet in thousands): Three Months Ended March 31, 2018 2017 Contributions to unconsolidated co-investment ventures Number of properties 8 5 Square feet 3,078 2,769 Net proceeds (1) $ 539,822 $ 397,489 Gains on contributions, net (1) (2) $ 167,726 $ 88,366 Dispositions to third parties Number of properties 11 18 Square feet 1,303 2,318 Net proceeds (1) (3) $ 87,981 $ 243,389 Gains on dispositions, net (1) (3) $ 27,385 $ 8,959 Total gains on dispositions of investments in real estate, net $ 195,111 $ 97,325 (1) Includes the contribution and disposition of land parcels. (2) The three months ended March 31, 2018 reflects the adoption of the new revenue recognition standard under which we recognized the entire gain attributed to contributions of real estate properties to unconsolidated entities. The three months ended March 31, 2017 reflects our prior recognition of the gain to the extent of the third-party ownership in the unconsolidated entity acquiring the property with the deferral of a portion of the gain related to our ownership. (3) Includes the sale of our investment in Europe Logistics Venture 1 in January 2017.

Unconsolidated Entities

Unconsolidated Entities	3 Months Ended
	Mar. 31, 2018
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 we 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 that are not wholly owned. 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, 2018 2017 Unconsolidated co-investment ventures $ 5,468,405 $ 5,274,702 Other ventures 207,594 221,748 Total $ 5,675,999 $ 5,496,450 Unconsolidated Co-Investment Ventures The following table summarizes the Strategic Capital Revenues Three Months Ended March 31, 2018 2017 Recurring fees $ 54,644 $ 44,195 Transactional fees 15,624 8,593 Promote revenues 62,544 3,146 Total strategic capital revenues from unconsolidated co-investment ventures, net $ 132,812 $ 55,934 The following table summarizes the key property information, financial position and operating information of our unconsolidated co-investment ventures (not our proportionate share) and the amounts we recognized in the Consolidated Financial Statements related to our unconsolidated co-investment ventures (dollars and square feet in millions): U.S. Other Americas Europe Asia Total As of: Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Key Property Information Ventures 1 1 2 2 3 3 2 2 8 8 Operating properties 552 552 205 205 691 707 100 95 1,548 1,559 Square feet 88 88 37 37 163 166 43 41 331 332 Financial Position Unconsolidated Co-Investment Ventures: Total assets ($) 7,009 7,062 2,102 2,118 13,941 13,586 6,749 6,133 29,801 28,899 Third-party debt ($) 2,278 2,313 744 756 2,746 2,682 2,607 2,328 8,375 8,079 Total liabilities ($) 2,479 2,520 773 782 3,884 3,655 2,989 2,685 10,125 9,642 Our investment balance ($) (1) 1,372 1,383 555 555 2,898 2,813 643 524 5,468 5,275 Our weighted average ownership (2) 28.1 % 28.2 % 43.4 % 43.4 % 32.8 % 32.8 % 15.1 % 15.1 % 28.6 % 28.8 % U.S. Other Americas Europe Asia Total For the three months ended: Mar 31, 2018 Mar 31, 2017 Mar 31, 2018 Mar 31, 2017 Mar 31, 2018 Mar 31, 2017 Mar 31, 2018 Mar 31, 2017 Mar 31, 2018 Mar 31, 2017 Operating Information Unconsolidated Co-Investment Ventures: Total revenues ($) 168 104 53 64 288 244 108 88 617 500 Net earnings ($) 13 36 14 17 93 73 42 24 162 150 Our earnings from unconsolidated co-investment ventures, net ($) 5 5 6 6 37 30 7 4 55 45 (1) Prologis’ investment balance is presented at our adjusted basis derived from the ventures’ U.S. GAAP information. The difference between our ownership interest of a venture’s equity and our investment balance at March 31, 2018 and December 31, 2017, results principally from three types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018 ($656.9 million and $667.3 million, respectively); (ii) recording additional costs associated with our investment in the venture ($98.0 million and $94.2 million, respectively); and (iii) advances to a venture ($304.0 million and $210.0 million, respectively). For deferred gains from partial sales recorded prior to the adoption the new revenue recognition standard, we will continue to recognize these gains over the lives of the underlying real estate properties or at the time of disposition to a third party. (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. Equity Commitments Related to Certain Unconsolidated Co-Investment Ventures The following table summarizes the remaining equity commitments at March 31, 2018 (in millions): Equity Commitments Expiration Date Prologis Venture Partners Total Prologis Targeted U.S. Logistics Fund $ - $ 563 $ 563 2019 Prologis European Logistics Fund (1) - 1,245 1,245 2018 – 2019 Prologis UK Logistics Venture (2) 23 132 155 2021 Prologis China Logistics Venture 294 1,665 1,959 2020 – 2024 Total $ 317 $ 3,605 $ 3,922 (1) Equity commitments are denominated in euro and reported in U.S. dollars based on an exchange rate of $1.23 U.S. dollars to the euro. (2) Equity commitments are denominated in British pounds sterling and reported in U.S. dollars based on an exchange rate of $1.41 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, 2018
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, 2018 and December 31, 2017. At the time of classification, these properties were expected to be sold to third parties or were recently developed and expected to be contributed to unconsolidated co-investment ventures within twelve months. The amounts included in Assets Held for Sale or Contribution Assets held for sale or contribution consisted of the following (dollars and square feet in thousands): March 31, December 31, 2018 2017 Number of operating properties 23 22 Square feet 7,369 5,384 Total assets held for sale or contribution $ 473,154 $ 342,060 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 5,335 $ 9,341

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	NOTE 5. DEBT All debt is incurred by the OP. The Parent does not have any indebtedness, but guarantees the unsecured debt of the OP. The following table summarizes our debt (dollars in thousands): March 31, 2018 December 31, 2017 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding Credit facilities 2.4 % $ 336,848 1.8 % $ 317,392 Senior notes 2.7 % 6,695,747 3.0 % 6,067,277 Term loans 1.2 % 1,456,308 1.7 % 2,046,945 Unsecured other 6.1 % 13,541 6.1 % 13,546 Secured mortgages 5.3 % 957,733 5.3 % 967,471 Total 2.8 % $ 9,460,177 2.9 % $ 9,412,631 (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 were borrowings denominated in non-U.S. dollars, principally: euro ($4.4 billion), Japanese yen ($1.3 billion), British pound sterling ($0.7 billion) and Canadian dollars ($0.4 billion). 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 OP. 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”) with availability of ¥50.0 billion ($469.7 million at March 31, 2018). We have the ability to increase the Revolver to ¥65.0 billion ($610.6 million at March 31, 2018), 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 OP. 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, 2018 (in millions): Aggregate lender commitments $ 3,563 Less: Borrowings outstanding 337 Outstanding letters of credit 34 Current availability $ 3,192 Senior Notes In January 2018, we issued €400.0 million ($494.2 million) senior notes bearing a floating rate of Euribor plus 0.25%, maturing in January 2020. The exchange rate used to calculate into U.S. dollars was the spot rate at the date of the transaction. The effective interest rate was -0.11% at March 31, 2018, due to the amortization of the net premium on the debt. Term Loans In February 2018, we borrowed on our Credit Facilities and paid down CAD $201.4 million ($158.9 million) on the Canadian term loan (the “2015 Canadian Term Loan”), leaving CAD $170.5 million ($132.2 million at March 31, 2018) outstanding. In association with the pay down of the 2015 Canadian Term Loan, we terminated our Canadian denominated cash flow hedges. See Note 9 for more information. We paid down $500.0 million and $197.7 million during the three months ended March 31, 2018 and 2017, respectively on our 2017 Term Loan. We did not reborrow during the three months ended March 31, 2018 and reborrowed $377.5 million during the three months ended March 31, 2017. Long-Term Debt Maturities Principal payments due on our debt for the remainder of 2018 and for each year through the period ended December 31, 2022, and thereafter were as follows at March 31, 2018 (in thousands): Unsecured Credit Senior Term Loans Secured Maturity Facilities Notes and Other Mortgages Total 2018 (1) $ - $ - $ 935 $ 163,553 $ 164,488 2019 - - 1,013 446,323 447,336 2020 (2) 336,848 1,232,100 1,077 12,402 1,582,427 2021 - 862,470 910 14,695 878,075 2022 - 862,470 470,464 10,705 1,343,639 Thereafter - 3,782,658 1,005,341 310,122 5,098,121 Subtotal 336,848 6,739,698 1,479,740 957,800 9,514,086 Premiums (discounts), net - (19,082 ) - 3,439 (15,643 ) Debt issuance costs, net - (24,869 ) (9,891 ) (3,506 ) (38,266 ) Total $ 336,848 $ 6,695,747 $ 1,469,849 $ 957,733 $ 9,460,177 (1) We expect to repay the amounts maturing in 2018 with cash generated from operations, proceeds from dispositions of real estate properties, or as necessary, with borrowings on our Credit Facilities. ( 2 ) Included in the 2020 maturities was the Global Facility that can be extended until 2021, as discussed above. Financial Debt Covenants We have $6.7 billion of senior notes and $1.5 billion of term loans outstanding at March 31, 2018 under two separate indentures, as supplemented, that were subject to certain financial covenants. We are also subject to financial covenants under our Credit Facilities and certain secured mortgages. At March 31, 2018, we were in compliance with all of our financial debt covenants.

Noncontrolling Interests

Noncontrolling Interests	3 Months Ended
	Mar. 31, 2018
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 into shares of the Parent’s common stock, generally at a rate of one share of common stock to one unit. We also consolidate certain entities in which we do not own 100% of the equity but the equity of these entities is not exchangeable into our common stock. Prologis, Inc. The noncontrolling interests of the Parent include the noncontrolling interests for the OP, as well as the limited partnership units in the OP 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 (dollars in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 2,565,165 $ 2,581,629 $ 5,999,624 $ 6,030,819 $ 292,833 $ 284,162 Other consolidated entities (1) various various 77,869 78,613 815,427 806,138 30,412 30,330 Prologis, L.P. 2,643,034 2,660,242 6,815,051 6,836,957 323,245 314,492 Limited partners in Prologis, L.P. (2) (3) 465,011 414,341 - - - - Prologis, Inc. $ 3,108,045 $ 3,074,583 $ 6,815,051 $ 6,836,957 $ 323,245 $ 314,492 (1) 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. The limited partnership units outstanding at March 31, 2018 and December 31, 2017 were exchangeable into cash or, at our option, 1.0 million shares of the Parent’s common stock. (2) We had 8.9 million Class A Units that were convertible into 8.5 million limited partnership units of the OP at March 31, 2018 and December 31, 2017, respectively. (3) At March 31, 2018 and December 31, 2017, excluding the Class A Units, there were limited partnership units in the OP that were exchangeable into cash or, at our option, 3.9 million shares and 4.1 million shares of the Parent’s common stock. Also included are the vested OP Long-Term Incentive Plan Units (“LTIP Units”) associated with our long-term compensation plan, see further discussion of LTIP Units in Note 7.

Long-Term Compensation

Long-Term Compensation	3 Months Ended
	Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Long-Term Compensation	NOTE 7. LONG-TERM COMPENSATION Equity-Based Compensation Plans and Programs Prologis Outperformance Plan (“POP”) We allocate participation points to participants under our POP corresponding to three-year performance periods beginning January 1. The fair value of the awards is measured at the grant date and amortized over the period from the grant date to the date at which the awards vest, which range from three to ten years. POP awards are earned to the extent our three-year compound annualized total stockholder return (“TSR”) for the performance period is positive and exceeds the three-year compound annualized TSR for the Morgan Stanley Capital International (“MSCI”) US REIT Index for the same period plus 100 basis points. We granted participation points for the 2018 – 2020 performance period in January 2018, with a fair value of $23.3 million using a Monte Carlo valuation model that assumed a risk-free interest rate of 2.1% and an expected volatility of 16.5%. The 2018 – 2020 performance period has an absolute maximum cap of $100 million. If the award is earned then 20% of the POP award is paid at the end of the performance period and the remaining 80% is subject to additional seven-year cliff vesting. The 20% that is paid at the end of the three-year performance period is subject to an additional three-year holding requirement. The performance criteria were met for the 2015 – 2017 performance period, which resulted in awards being earned at December 31, 2017. An aggregate performance pool of $110.2 million was awarded in January 2018 in the form of 0.6 million shares of common stock and 1.2 million vested LTIP Units. Other Equity-Based Compensation Plans and Programs Our other equity-based compensation plans and programs include (i) the Prologis Promote Plan (“PPP”); (ii) the annual long-term incentive (“LTI”) equity award program (“Annual LTI Award”); and (iii) the annual bonus exchange program. Awards under these plans and programs may be issued in the form of restricted stock units (“RSUs”) or LTIP Units at the participant’s election. RSUs and LTIP Units are valued based on the market price of the Parent’s common stock on the date the award is granted and is charged to compensation expense over the service period. Beginning in February 2018 with awards for PPP and Annual LTI Awards, the service period is four years. Summary of Award Activity RSUs The following table summarizes the activity for RSUs for the three months ended March 31, 2018 (units in thousands): Weighted Average Unvested RSUs Grant Date Fair Value Balance at January 1, 2018 1,374 $ 45.57 Granted 676 60.74 Vested and distributed (709 ) 44.65 Forfeited (7 ) 49.47 Balance at March 31, 2018 1,334 $ 53.74 LTIP Units The following table summarizes the activity for LTIP Units for the three months ended March 31, 2018 (units in thousands): Vested Unvested Unvested Weighted Average LTIP Units (1) LTIP Units (1) Grant Date Fair Value Balance at January 1, 2018 1,532 1,829 $ 46.48 Granted - 1,244 60.94 Forfeited - (53 ) 45.70 Vested LTIP Units 783 (783 ) 44.58 Vested LTIP Units – POP (2) 1,170 - N/A Conversion to common limited partnership units (25 ) - N/A Balance at March 31, 2018 3,460 2,237 $ 55.20 (1) The outstanding LTIP Units are exchangeable into limited partnership units of the OP and redeemable for the Parent’s common stock after they vest and other applicable conditions have been met. (2 ) Vested units were based on the POP performance criteria being met for the 2015 – 2017 performance period and represented the earned award amount, as discussed above.

Earnings Per Common Share or Un

Earnings Per Common Share or Unit	3 Months Ended
	Mar. 31, 2018
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) was as follows: Three Months Ended March 31, Prologis, Inc. 2018 2017 Net earnings attributable to common stockholders – Basic $ 365,902 $ 203,255 Net earnings attributable to exchangeable limited partnership units (1) 10,693 5,967 Adjusted net earnings attributable to common stockholders – Diluted $ 376,595 $ 209,222 Weighted average common shares outstanding – Basic 532,185 528,721 Incremental weighted average effect on exchange of limited partnership units (1) 16,270 16,455 Incremental weighted average effect of equity awards 5,668 4,834 Weighted average common shares outstanding – Diluted (2) 554,123 550,010 Net earnings per share attributable to common stockholders: Basic $ 0.69 $ 0.38 Diluted $ 0.68 $ 0.38 Three Months Ended March 31, Prologis, L.P. 2018 2017 Net earnings attributable to common unitholders $ 376,425 $ 208,878 Net earnings attributable to Class A convertible common unitholders (5,853 ) (3,331 ) Net earnings attributable to common unitholders – Basic 370,572 205,547 Net earnings attributable to Class A convertible common unitholders 5,853 3,331 Net earnings attributable to exchangeable limited partnership units 170 344 Adjusted net earnings attributable to common unitholders – Diluted $ 376,595 $ 209,222 Weighted average common partnership units outstanding – Basic 538,977 534,685 Incremental weighted average effect on exchange of Class A units 8,512 8,664 Incremental weighted average effect on exchange of limited partnership units 966 1,827 Incremental weighted average effect of equity awards of Prologis, Inc. 5,668 4,834 Weighted average common units outstanding – Diluted (2) 554,123 550,010 Net earnings per unit attributable to common unitholders: Basic $ 0.69 $ 0.38 Diluted $ 0.68 $ 0.38 (1) Earnings allocated to the exchangeable OP units not held by the Parent have been included in the numerator and exchangeable common units have been included in the denominator for the purpose of computing diluted earnings per share for all periods as the per share and unit amount is the same. (2) Our total weighted average potentially dilutive shares and units outstanding consisted of the following: Three Months Ended March 31, 2018 2017 Total limited partnership units 9,478 10,491 Total stock awards 8,380 8,278 Prologis, L.P. 17,858 18,769 Limited partners in Prologis, L.P. 6,792 5,964 Prologis, Inc. 24,650 24,733

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
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. We primarily hedge our foreign currency risk by borrowing in the currencies in which we invest. Generally, we borrow in the functional currency of our consolidated subsidiaries but we also borrow in currencies other than the U.S. dollar in the OP. We may use derivative financial instruments, such as foreign currency forward and option contracts to manage foreign currency exchange rate risk related to our foreign investments and earnings. In addition, we occasionally use interest rate swap and forward contracts to manage interest rate risk and limit the impact of future interest rate changes on earnings and cash flows, primarily with variable-rate debt. We recognize derivatives at fair value within the line items Other Assets Other Liabilities. The following table presents the fair value and classification of our derivative financial instruments (in thousands): March 31, 2018 December 31, 2017 Asset Liability Asset Liability Foreign currency contracts Net investment hedges Canadian dollar $ - $ 123 $ - $ 7,263 Forwards and options (1) Canadian dollar 436 592 - 1,698 British pound sterling - 12,090 2,440 8,103 Euro 28 19,365 2 14,234 Japanese yen 1,663 5,009 6,474 931 Interest rate swaps Cash flow hedges - 485 10,223 - Total fair value of derivatives $ 2,127 $ 37,664 $ 19,139 $ 32,229 (1) As discussed below, these foreign currency contracts are not designated as hedges. Foreign Currency Contracts 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): Foreign Currency Contracts 2018 Net Investment Hedges Forwards and Options Local Currency CAD CAD CNY EUR GBP JPY Notional amounts at January 1 $ 133 $ 72 ¥ - € 199 £ 102 ¥ 16,200 New contracts 128 6 519 23 - - Matured, expired or settled contracts (133 ) (8 ) (519 ) (22 ) (18 ) (2,000 ) Notional amounts at March 31 $ 128 $ 70 ¥ - € 200 £ 84 ¥ 14,200 Foreign Currency Contracts U.S. Dollar Net Investment Hedges (1) Forwards and Options (2) Notional amounts at January 1 $ 99 $ 56 $ - $ 233 $ 132 $ 153 New contracts 100 5 80 28 - - Matured, expired or settled contracts (99 ) (6 ) (80 ) (25 ) (24 ) (19 ) Notional amounts at March 31 $ 100 $ 55 $ - $ 236 $ 108 $ 134 Weighted average forward rate at March 31 1.28 1.28 - 1.18 1.30 106.20 Active contracts at March 31 2 24 - 29 18 30 Foreign Currency Contracts 2017 Net Investment Hedges Forwards and Options Local Currency 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 (2) 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 (1) During the three months ended March 31, 2018, we settled two Canadian net investment hedges. See Other Comprehensive Income (Loss) (2) During the Foreign Currency and Derivative Losses, Net . We recognized unrealized losses of $12.9 million and $13.7 million for the three months ended March 31, 2018 and 2017, respectively, from the change in value of our outstanding foreign currency contracts within Foreign Currency and Derivative Losses, Net Interest Rate Swaps The following table summarizes the activity of our interest rates swaps designated as cash flow hedges (in millions): Three Months Ended March 31, 2018 2017 Notional amounts at January 1 $ 271 $ 271 New contracts (1) 500 - Matured, expired or settled contracts (2) (271 ) - Notional amounts at March 31 $ 500 $ 271 (1) During the three months ended March 31, 2018, we entered into two contracts with an aggregated notional amount of €400.0 million ( (2) During 2018, we repaid CAD $201.4 million ($158.9 million) on our 2015 Canadian Term Loan, leaving CAD $170.5 million ($132.2 million at March 31, 2018) outstanding. At that time, we settled the interest rate swap contracts related to the 2015 Canadian Term Loan and we determined it was no longer probable that we would continue to have the future cash flows as originally hedged. As a result, the $12.5 million gain in Accumulated Other Comprehensive Income (Loss) “AOCI/L” Interest Expense During the three months ended March 31, 2018 and 2017, we had no losses due to hedge ineffectiveness. Other Comprehensive Income (Loss) The change in Other Comprehensive Income (Loss) Other Comprehensive Income (Loss). The following table presents these changes in Other Comprehensive Income (Loss) Three Months Ended March 31, 2018 2017 Derivative net investment hedges (1) $ 3,093 $ 2,294 Cash flow hedges (2) (9,285 ) 429 Our share of derivatives from unconsolidated co-investment ventures 2,998 2,202 Total derivative hedging instruments (3,194 ) 4,925 Nonderivative net investment hedges (3) (4) (109,877 ) (44,526 ) Total derivative and nonderivative hedging instruments – gains (losses) $ (113,071 ) $ (39,601 ) Cumulative translation adjustment 111,554 81,899 Total change in other comprehensive income (loss) $ (1,517 ) $ 42,298 (1) We paid $4.0 million and received $1.8 million for the three months ended March 31, 2018 and 2017, respectively, on the settlement of net investment hedges. (2) The amounts reclassified to interest expense due to the amortization of previously settled cash flow hedges for the three months ended March 31, 2018 and 2017, were $1.1 million and $1.4 million, respectively. Additionally, during the three months ended March 31, 2018 we reclassified the settlement of the interest rate swap contracts on the 2015 Canadian Term Loan, as discussed above. For the next 12 months from March 31, 2018, we estimate an additional expense of $4.3 million will be reclassified to Interest Expense (3) At March 31, 2018 and December 31, 2017, we had €3.0 billion ($3.6 billion) and €3.1 billion ($3.6 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 $9.2 million and $4.1 million in Foreign Currency and Derivative Losses, Net (4) At March 31, 2018 and December 31, 2017, we had £213.7 million ($295.3 million) and £323.7 million ($436.0 million) of debt, net of accrued interest, respectively, designated as a nonderivative financial instrument hedge of our net investment in international subsidiaries. We recognized unrealized losses of $15.1 million in Foreign Currency and Derivative Losses, Net on the unhedged portion of our debt, net of accrued interest, for the three months ended March 31, 2018. We did not recognize any gains or losses for the three months ended March 31, 2017. 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 year ended December 31, 2017. Fair Value Measurements on a Recurring Basis At March 31, 2018 and December 31, 2017, 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, 2018 and December 31, 2017, were classified as Level 2 of the fair value hierarchy. Fair Value Measurements on Nonrecurring Basis Acquired properties and assets we expect to sell or contribute met the criteria to be measured on a nonrecurring basis at fair value and the lower of their carrying amount or their estimated fair value less the costs to sell, respectively, at March 31, 2018 and December 31, 2017. At March 31, 2018 and December 31, 2017, we estimate the fair value of our properties using Level 2 or Level 3 inputs from the fair value hierarchy. See more information on our acquired properties and assets held for sale or contribution in Notes 2 and 4, respectively. Fair Value of Financial Instruments At March 31, 2018 and December 31, 2017, the carrying amounts of certain financial instruments, including cash and cash equivalents, accounts and notes receivable, accounts payable and accrued expenses were representative of their fair values. The differences in the fair value of our debt from the carrying value in the table below were the result of differences in interest rates or borrowing spreads that were available to us at March 31, 2018 and December 31, 2017, as compared with those in effect when the debt was issued or assumed, including reduced borrowing spreads due to our improved credit ratings. The senior notes and many of the issuances of secured mortgages 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, 2018 December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 336,848 $ 336,909 $ 317,392 $ 317,496 Senior notes 6,695,747 7,079,764 6,067,277 6,537,100 Term loans and unsecured other 1,469,849 1,483,207 2,060,491 2,075,002 Secured mortgages 957,733 1,004,500 967,471 1,026,197 Total $ 9,460,177 $ 9,904,380 $ 9,412,631 $ 9,955,795

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2018
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, net operating income, earnings 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 business segment based on geographic location. Our Real Estate Operations segment also includes development activities that lead to rental operations, including land held for development and properties currently under development. Within this line of business, we utilize the following: (i) our land bank; (ii) the development expertise of our local teams; and (iii) our customer relationships. Land we own and lease to customers under 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 primarily from our unconsolidated co-investment ventures through asset and property management services and we earn additional revenues by providing leasing, acquisition, construction, development, financing, legal and disposition services. Depending on the structure of the venture and the returns provided to our partners, we also earn revenues through promotes periodically during the life of a venture or upon liquidation. Each unconsolidated co-investment venture we manage is considered to be an individual operating segment with similar economic characteristics; these ventures are combined within the reportable business segment based on geographic location. Reconciliations are presented below for: (i) each reportable business segment’s revenues from external customers to Total Revenues Operating Income Earnings Before Income Taxes Total Assets Total Revenues, Operating Income, Earnings Before Income Taxes Total Assets Three Months Ended March 31, 2018 2017 Segment revenues: Real estate operations segment: U.S. $ 499,257 $ 524,147 Other Americas 30,431 15,089 Europe 17,202 18,231 Asia 13,805 14,643 Total real estate operations segment 560,695 572,110 Strategic capital segment: U.S. 16,069 11,908 Other Americas 6,153 6,051 Europe 38,817 26,262 Asia 71,922 12,824 Total strategic capital segment 132,961 57,045 Total segment revenues 693,656 629,155 Segment net operating income: Real estate operations segment: U.S. (1) 369,364 384,100 Other Americas 22,923 9,982 Europe 12,459 12,858 Asia 9,769 9,908 Total real estate operations segment 414,515 416,848 Strategic capital segment: U.S. (1) (4,236 ) 1,939 Other Americas 2,907 3,145 Europe 27,663 16,390 Asia 62,767 3,772 Total strategic capital segment 89,101 25,246 Total segment net operating income 503,616 442,094 Reconciling items: General and administrative expenses 62,428 53,617 Depreciation and amortization expenses 204,081 226,591 Operating income 237,107 161,886 Earnings from unconsolidated entities, net 62,656 48,605 Interest expense (47,245 ) (72,912 ) Interest and other income, net 1,976 2,785 Gains on dispositions of investments in real estate, net 195,111 97,325 Foreign currency and derivative losses, net (41,094 ) (7,400 ) Earnings before income taxes $ 408,511 $ 230,289 March 31, December 31, 2018 2017 Segment assets: Real estate operations segment: U.S. $ 19,054,745 $ 19,058,610 Other Americas 1,787,608 1,767,385 Europe 1,037,712 1,008,340 Asia 953,788 1,083,764 Total real estate operations segment 22,833,853 22,918,099 Strategic capital segment: U.S. 16,756 16,818 Europe 25,280 25,280 Asia 360 544 Total strategic capital segment 42,396 42,642 Total segment assets 22,876,249 22,960,741 Reconciling items: Investments in and advances to unconsolidated entities 5,675,999 5,496,450 Assets held for sale or contribution 473,154 342,060 Notes receivable backed by real estate - 34,260 Cash and cash equivalents 458,099 447,046 Other assets 187,984 200,518 Total reconciling items 6,795,236 6,520,334 Total assets $ 29,671,485 $ 29,481,075 (1) This includes compensation and personnel costs for employees who were located in the U.S. but also support other regions.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2018
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, 2018 and 2017 included the following: • We capitalized $7.5 million and $7.0 million in 2018 and 2017, respectively, of equity-based compensation expense resulting from our development and leasing activities. • We issued 0.2 million and 0.6 million shares in 2018 and in 2017, respectively, of the Parent’s common stock upon redemption of an equal number of common limited partnership units in the OP. In 2018, the 0.2 million shares were subsequently redeemed for cash. • We received $50.6 million and $10.2 million in 2018 and 2017, respectively, of ownership interests in certain unconsolidated co-investment ventures as a portion of our proceeds from the contribution of properties to these entities, as disclosed in Note 2. We paid $82.9 million and $111.5 million for interest, net of amounts capitalized, for the three months ended March 31, 2018 and 2017, respectively. We paid $24.8 million and $15.2 million for income taxes, net of refunds, for the three months ended March 31, 2018 and 2017, respectively.

General (Policies)

General (Policies)	3 Months Ended
	Mar. 31, 2018
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 note 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 OP 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 year ended December 31, 2017, as filed with the SEC, and other public information.
New Accounting Pronouncements	New Accounting Pronouncements. New Accounting Standards Adopted Revenue Recognition . In May 2014, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update (“ASU”) 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. In February 2017, the FASB issued an additional ASU that provides the accounting treatment for gains and losses from the derecognition of non-financial assets, including the accounting for partial sales of real estate properties. We adopted the revenue recognition and derecognition of non-financial assets standards (collectively “the new revenue recognition standard”) on January 1, 2018, on a modified retrospective basis. Rental revenues and recoveries earned from leasing our operating properties are excluded from this standard and will be assessed with the adoption of the lease ASU discussed below. Our evaluation under the new revenue recognition standard included recurring and transactional fees and incentive fees (“promotes” or “promote revenues”) earned from our co-investment ventures as well as dispositions and contributions of real estate properties. There is no change in our recognition of recurring and transactional fees as we will continue to recognize these fees as we provide the services. Promote revenues are earned based on a venture’s cumulative returns over a certain time-period and the returns are determined by both the operating performance and real estate valuation of the venture, including highly variable inputs such as capitalization rates, interest rates and foreign currency exchange rates. As these key inputs are highly volatile and out of our control, and such volatility can materially impact our promotes period over period, we expect promote revenues will continue to be recognized at or near the end of the performance period. Accordingly, we do not expect significant changes in promote revenue recognition as a result of this ASU. For dispositions of real estate properties to third parties, the standard will not impact the recognition of the sale. Beginning January 1, 2018, we recognized the entire gain attributed to contributions of real estate properties to unconsolidated entities. We previously recognized a gain on contribution only to the extent of the third-party ownership in the unconsolidated entity acquiring the property and deferred the portion of the gain related to our ownership. We adopted the practical expedient to only assess the recognition of revenue for open contracts during the transition period and there was no adjustment to the opening balance of retained earnings at January 1, 2018. The comparative information has not been restated and continues to be reported under the accounting standards in effect for that period. New Accounting Standards Issued but not yet Adopted Leases. In February 2016, the FASB issued an ASU that provides the principles for the recognition, measurement, presentation and disclosure of leases. • As a lessor. 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, these costs are capitalizable and therefore this new standard will result in certain of these costs being expensed as incurred after adoption. During the three months ended March 31, 2018 and 2017, we capitalized $5.4 million and $6.5 million, respectively, of internal costs related to our leasing activities. This standard may also impact the timing, recognition, presentation and disclosures related to our rental recoveries from tenants earned from leasing our operating properties, although we do not expect a significant impact. • As a lessee. 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 (“ROU”) 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 of ground leases and office space leases. At December 31, 2017, we had approximately 90 ground and office space leases that will require us to measure and record a ROU 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, 2017. Details of our future minimum rental payments under these ground and office space leases are disclosed in Note 4 to the Annual Report on Form 10-K for the year ended December 31, 2017. The standard is effective for us on January 1, 2019. We expect to adopt the practical expedients available for implementation under the standard. By adopting these practical expedients, we will 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 existing leases; and (iii) whether costs previously capitalized as initial direct costs would continue to be amortized. This allows us to continue to account for our ground and office space leases as operating leases, however, any new or renewed ground leases may be classified as financing leases unless they meet certain conditions to be considered a lease involving facilities owned by a government unit or authority. The standard will also require new disclosures within the accompanying notes to the Consolidated Financial Statements. While we are well into our analysis of the adoption, we will continue to evaluate the key drivers in the measurement of the ROU asset and lease liability and assess the impact the adoption will have on the Consolidated Financial Statements based on industry practice and potential updates to the ASU. Derivatives and Hedging . In August 2017, the FASB issued an ASU that simplifies the application of hedge accounting guidance in current GAAP and improves the reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its consolidated financial statements. Among the simplification updates, the standard eliminates the requirement in current GAAP to separately recognize periodic hedge ineffectiveness. Mismatches between the changes in value of the hedged item and hedging instrument may still occur but they will no longer be separately reported. The standard requires the presentation of the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is reported. The standard is effective for us on January 1, 2019, but early adoption is permitted. We do not expect the adoption of this standard to have a material impact on the Consolidated Financial Statements.

Real Estate (Tables)

Real Estate (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018 2017 2018 2017 2018 2017 Operating properties: Buildings and improvements 290,474 294,811 1,511 1,525 $ 16,720,688 $ 16,849,349 Improved land 5,700,945 5,735,978 Development portfolio, including land costs: Prestabilized 6,512 7,345 22 22 501,772 546,173 Properties under development 23,116 22,216 62 63 1,195,715 1,047,316 Land (1) 1,231,759 1,154,383 Other real estate investments (2) 525,123 505,445 Total investments in real estate properties 25,876,002 25,838,644 Less accumulated depreciation 4,199,159 4,059,348 Net investments in real estate properties $ 21,676,843 $ 21,779,296 (1) Included in our investments in real estate at March 31, 2018 and December 31, 2017, were 5,224 and 5,191 acres of land, respectively. During the three months ended March 31, 2018, we acquired 379 acres of land for $134.9 million. (2) Included in other real estate investments were: (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 Real Estate Disposition Activity	The following table summarizes our real estate disposition activity (dollars and square feet in thousands): Three Months Ended March 31, 2018 2017 Contributions to unconsolidated co-investment ventures Number of properties 8 5 Square feet 3,078 2,769 Net proceeds (1) $ 539,822 $ 397,489 Gains on contributions, net (1) (2) $ 167,726 $ 88,366 Dispositions to third parties Number of properties 11 18 Square feet 1,303 2,318 Net proceeds (1) (3) $ 87,981 $ 243,389 Gains on dispositions, net (1) (3) $ 27,385 $ 8,959 Total gains on dispositions of investments in real estate, net $ 195,111 $ 97,325 (1) Includes the contribution and disposition of land parcels. (2) The three months ended March 31, 2018 reflects the adoption of the new revenue recognition standard under which we recognized the entire gain attributed to contributions of real estate properties to unconsolidated entities. The three months ended March 31, 2017 reflects our prior recognition of the gain to the extent of the third-party ownership in the unconsolidated entity acquiring the property with the deferral of a portion of the gain related to our ownership. (3) Includes the sale of our investment in Europe Logistics Venture 1 in January 2017.

Unconsolidated Entities (Tables

Unconsolidated Entities (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018 2017 Unconsolidated co-investment ventures $ 5,468,405 $ 5,274,702 Other ventures 207,594 221,748 Total $ 5,675,999 $ 5,496,450
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in and Advances to our Unconsolidated Entities	The following table summarizes the key property information, financial position and operating information of our unconsolidated co-investment ventures (not our proportionate share) and the amounts we recognized in the Consolidated Financial Statements related to our unconsolidated co-investment ventures (dollars and square feet in millions): U.S. Other Americas Europe Asia Total As of: Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Key Property Information Ventures 1 1 2 2 3 3 2 2 8 8 Operating properties 552 552 205 205 691 707 100 95 1,548 1,559 Square feet 88 88 37 37 163 166 43 41 331 332 Financial Position Unconsolidated Co-Investment Ventures: Total assets ($) 7,009 7,062 2,102 2,118 13,941 13,586 6,749 6,133 29,801 28,899 Third-party debt ($) 2,278 2,313 744 756 2,746 2,682 2,607 2,328 8,375 8,079 Total liabilities ($) 2,479 2,520 773 782 3,884 3,655 2,989 2,685 10,125 9,642 Our investment balance ($) (1) 1,372 1,383 555 555 2,898 2,813 643 524 5,468 5,275 Our weighted average ownership (2) 28.1 % 28.2 % 43.4 % 43.4 % 32.8 % 32.8 % 15.1 % 15.1 % 28.6 % 28.8 % U.S. Other Americas Europe Asia Total For the three months ended: Mar 31, 2018 Mar 31, 2017 Mar 31, 2018 Mar 31, 2017 Mar 31, 2018 Mar 31, 2017 Mar 31, 2018 Mar 31, 2017 Mar 31, 2018 Mar 31, 2017 Operating Information Unconsolidated Co-Investment Ventures: Total revenues ($) 168 104 53 64 288 244 108 88 617 500 Net earnings ($) 13 36 14 17 93 73 42 24 162 150 Our earnings from unconsolidated co-investment ventures, net ($) 5 5 6 6 37 30 7 4 55 45 (1) Prologis’ investment balance is presented at our adjusted basis derived from the ventures’ U.S. GAAP information. The difference between our ownership interest of a venture’s equity and our investment balance at March 31, 2018 and December 31, 2017, results principally from three types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018 ($656.9 million and $667.3 million, respectively); (ii) recording additional costs associated with our investment in the venture ($98.0 million and $94.2 million, respectively); and (iii) advances to a venture ($304.0 million and $210.0 million, respectively). For deferred gains from partial sales recorded prior to the adoption the new revenue recognition standard, we will continue to recognize these gains over the lives of the underlying real estate properties or at the time of disposition to a third party. (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.
Summary of Strategic Capital Revenues Recognized in Consolidated Statements of Income Related to Co-Investment Ventures	The following table summarizes the Strategic Capital Revenues Three Months Ended March 31, 2018 2017 Recurring fees $ 54,644 $ 44,195 Transactional fees 15,624 8,593 Promote revenues 62,544 3,146 Total strategic capital revenues from unconsolidated co-investment ventures, net $ 132,812 $ 55,934
Summary of Remaining Equity Commitments	The following table summarizes the remaining equity commitments at March 31, 2018 (in millions): Equity Commitments Expiration Date Prologis Venture Partners Total Prologis Targeted U.S. Logistics Fund $ - $ 563 $ 563 2019 Prologis European Logistics Fund (1) - 1,245 1,245 2018 – 2019 Prologis UK Logistics Venture (2) 23 132 155 2021 Prologis China Logistics Venture 294 1,665 1,959 2020 – 2024 Total $ 317 $ 3,605 $ 3,922 (1) Equity commitments are denominated in euro and reported in U.S. dollars based on an exchange rate of $1.23 U.S. dollars to the euro. (2) Equity commitments are denominated in British pounds sterling and reported in U.S. dollars based on an exchange rate of $1.41 U.S. dollars to the British pound sterling.

Assets Held for Sale or Contr23

Assets Held for Sale or Contribution (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018 2017 Number of operating properties 23 22 Square feet 7,369 5,384 Total assets held for sale or contribution $ 473,154 $ 342,060 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 5,335 $ 9,341

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt Summary	The following table summarizes our debt (dollars in thousands): March 31, 2018 December 31, 2017 Weighted Average Interest Rate (1) Amount Outstanding (2) Weighted Average Interest Rate (1) Amount Outstanding Credit facilities 2.4 % $ 336,848 1.8 % $ 317,392 Senior notes 2.7 % 6,695,747 3.0 % 6,067,277 Term loans 1.2 % 1,456,308 1.7 % 2,046,945 Unsecured other 6.1 % 13,541 6.1 % 13,546 Secured mortgages 5.3 % 957,733 5.3 % 967,471 Total 2.8 % $ 9,460,177 2.9 % $ 9,412,631 (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 were borrowings denominated in non-U.S. dollars, principally: euro ($4.4 billion), Japanese yen ($1.3 billion), British pound sterling ($0.7 billion) and Canadian dollars ($0.4 billion).
Credit Facilities	The following table summarizes information about our Credit Facilities at March 31, 2018 (in millions): Aggregate lender commitments $ 3,563 Less: Borrowings outstanding 337 Outstanding letters of credit 34 Current availability $ 3,192
Long-Term Debt Maturities	Principal payments due on our debt for the remainder of 2018 and for each year through the period ended December 31, 2022, and thereafter were as follows at March 31, 2018 (in thousands): Unsecured Credit Senior Term Loans Secured Maturity Facilities Notes and Other Mortgages Total 2018 (1) $ - $ - $ 935 $ 163,553 $ 164,488 2019 - - 1,013 446,323 447,336 2020 (2) 336,848 1,232,100 1,077 12,402 1,582,427 2021 - 862,470 910 14,695 878,075 2022 - 862,470 470,464 10,705 1,343,639 Thereafter - 3,782,658 1,005,341 310,122 5,098,121 Subtotal 336,848 6,739,698 1,479,740 957,800 9,514,086 Premiums (discounts), net - (19,082 ) - 3,439 (15,643 ) Debt issuance costs, net - (24,869 ) (9,891 ) (3,506 ) (38,266 ) Total $ 336,848 $ 6,695,747 $ 1,469,849 $ 957,733 $ 9,460,177 (1) We expect to repay the amounts maturing in 2018 with cash generated from operations, proceeds from dispositions of real estate properties, or as necessary, with borrowings on our Credit Facilities. ( 2 ) Included in the 2020 maturities was the Global Facility that can be extended until 2021, as discussed above.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 2018
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 (dollars in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Mar 31, 2018 Dec 31, 2017 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 2,565,165 $ 2,581,629 $ 5,999,624 $ 6,030,819 $ 292,833 $ 284,162 Other consolidated entities (1) various various 77,869 78,613 815,427 806,138 30,412 30,330 Prologis, L.P. 2,643,034 2,660,242 6,815,051 6,836,957 323,245 314,492 Limited partners in Prologis, L.P. (2) (3) 465,011 414,341 - - - - Prologis, Inc. $ 3,108,045 $ 3,074,583 $ 6,815,051 $ 6,836,957 $ 323,245 $ 314,492 (1) 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. The limited partnership units outstanding at March 31, 2018 and December 31, 2017 were exchangeable into cash or, at our option, 1.0 million shares of the Parent’s common stock. (2) We had 8.9 million Class A Units that were convertible into 8.5 million limited partnership units of the OP at March 31, 2018 and December 31, 2017, respectively. (3) At March 31, 2018 and December 31, 2017, excluding the Class A Units, there were limited partnership units in the OP that were exchangeable into cash or, at our option, 3.9 million shares and 4.1 million shares of the Parent’s common stock. Also included are the vested OP Long-Term Incentive Plan Units (“LTIP Units”) associated with our long-term compensation plan, see further discussion of LTIP Units in Note 7.

Long-Term Compensation (Tables)

Long-Term Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options, RSU and Performance Share Awards	The following table summarizes the activity for RSUs for the three months ended March 31, 2018 (units in thousands): Weighted Average Unvested RSUs Grant Date Fair Value Balance at January 1, 2018 1,374 $ 45.57 Granted 676 60.74 Vested and distributed (709 ) 44.65 Forfeited (7 ) 49.47 Balance at March 31, 2018 1,334 $ 53.74
Long Term Incentive Plan Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options, RSU and Performance Share Awards	The following table summarizes the activity for LTIP Units for the three months ended March 31, 2018 (units in thousands): Vested Unvested Unvested Weighted Average LTIP Units (1) LTIP Units (1) Grant Date Fair Value Balance at January 1, 2018 1,532 1,829 $ 46.48 Granted - 1,244 60.94 Forfeited - (53 ) 45.70 Vested LTIP Units 783 (783 ) 44.58 Vested LTIP Units – POP (2) 1,170 - N/A Conversion to common limited partnership units (25 ) - N/A Balance at March 31, 2018 3,460 2,237 $ 55.20 (1) The outstanding LTIP Units are exchangeable into limited partnership units of the OP and redeemable for the Parent’s common stock after they vest and other applicable conditions have been met. (2 ) Vested units were based on the POP performance criteria being met for the 2015 – 2017 performance period and represented the earned award amount, as discussed above.

Earnings Per Common Share or 27

Earnings Per Common Share or Unit (Tables)	3 Months Ended
	Mar. 31, 2018
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) was as follows: Three Months Ended March 31, Prologis, Inc. 2018 2017 Net earnings attributable to common stockholders – Basic $ 365,902 $ 203,255 Net earnings attributable to exchangeable limited partnership units (1) 10,693 5,967 Adjusted net earnings attributable to common stockholders – Diluted $ 376,595 $ 209,222 Weighted average common shares outstanding – Basic 532,185 528,721 Incremental weighted average effect on exchange of limited partnership units (1) 16,270 16,455 Incremental weighted average effect of equity awards 5,668 4,834 Weighted average common shares outstanding – Diluted (2) 554,123 550,010 Net earnings per share attributable to common stockholders: Basic $ 0.69 $ 0.38 Diluted $ 0.68 $ 0.38 Three Months Ended March 31, Prologis, L.P. 2018 2017 Net earnings attributable to common unitholders $ 376,425 $ 208,878 Net earnings attributable to Class A convertible common unitholders (5,853 ) (3,331 ) Net earnings attributable to common unitholders – Basic 370,572 205,547 Net earnings attributable to Class A convertible common unitholders 5,853 3,331 Net earnings attributable to exchangeable limited partnership units 170 344 Adjusted net earnings attributable to common unitholders – Diluted $ 376,595 $ 209,222 Weighted average common partnership units outstanding – Basic 538,977 534,685 Incremental weighted average effect on exchange of Class A units 8,512 8,664 Incremental weighted average effect on exchange of limited partnership units 966 1,827 Incremental weighted average effect of equity awards of Prologis, Inc. 5,668 4,834 Weighted average common units outstanding – Diluted (2) 554,123 550,010 Net earnings per unit attributable to common unitholders: Basic $ 0.69 $ 0.38 Diluted $ 0.68 $ 0.38 (1) Earnings allocated to the exchangeable OP units not held by the Parent have been included in the numerator and exchangeable common units have been included in the denominator for the purpose of computing diluted earnings per share for all periods as the per share and unit amount is the same. (2) Our total weighted average potentially dilutive shares and units outstanding consisted of the following: Three Months Ended March 31, 2018 2017 Total limited partnership units 9,478 10,491 Total stock awards 8,380 8,278 Prologis, L.P. 17,858 18,769 Limited partners in Prologis, L.P. 6,792 5,964 Prologis, Inc. 24,650 24,733

Financial Instruments and Fai28

Financial Instruments and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of Fair Value and Classification of Derivative Financial Instruments	The following table presents the fair value and classification of our derivative financial instruments (in thousands): March 31, 2018 December 31, 2017 Asset Liability Asset Liability Foreign currency contracts Net investment hedges Canadian dollar $ - $ 123 $ - $ 7,263 Forwards and options (1) Canadian dollar 436 592 - 1,698 British pound sterling - 12,090 2,440 8,103 Euro 28 19,365 2 14,234 Japanese yen 1,663 5,009 6,474 931 Interest rate swaps Cash flow hedges - 485 10,223 - Total fair value of derivatives $ 2,127 $ 37,664 $ 19,139 $ 32,229 (1) As discussed below, these foreign currency contracts are not designated as hedges.
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): Foreign Currency Contracts 2018 Net Investment Hedges Forwards and Options Local Currency CAD CAD CNY EUR GBP JPY Notional amounts at January 1 $ 133 $ 72 ¥ - € 199 £ 102 ¥ 16,200 New contracts 128 6 519 23 - - Matured, expired or settled contracts (133 ) (8 ) (519 ) (22 ) (18 ) (2,000 ) Notional amounts at March 31 $ 128 $ 70 ¥ - € 200 £ 84 ¥ 14,200 Foreign Currency Contracts U.S. Dollar Net Investment Hedges (1) Forwards and Options (2) Notional amounts at January 1 $ 99 $ 56 $ - $ 233 $ 132 $ 153 New contracts 100 5 80 28 - - Matured, expired or settled contracts (99 ) (6 ) (80 ) (25 ) (24 ) (19 ) Notional amounts at March 31 $ 100 $ 55 $ - $ 236 $ 108 $ 134 Weighted average forward rate at March 31 1.28 1.28 - 1.18 1.30 106.20 Active contracts at March 31 2 24 - 29 18 30 Foreign Currency Contracts 2017 Net Investment Hedges Forwards and Options Local Currency 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 (2) 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 (1) During the three months ended March 31, 2018, we settled two Canadian net investment hedges. See Other Comprehensive Income (Loss) (2) During the Foreign Currency and Derivative Losses, Net .
Summary of Activity in Interest Rate Swaps	The following table summarizes the activity of our interest rates swaps designated as cash flow hedges (in millions): Three Months Ended March 31, 2018 2017 Notional amounts at January 1 $ 271 $ 271 New contracts (1) 500 - Matured, expired or settled contracts (2) (271 ) - Notional amounts at March 31 $ 500 $ 271 (1) During the three months ended March 31, 2018, we entered into two contracts with an aggregated notional amount of €400.0 million ( (2) During 2018, we repaid CAD $201.4 million ($158.9 million) on our 2015 Canadian Term Loan, leaving CAD $170.5 million ($132.2 million at March 31, 2018) outstanding. At that time, we settled the interest rate swap contracts related to the 2015 Canadian Term Loan and we determined it was no longer probable that we would continue to have the future cash flows as originally hedged. As a result, the $12.5 million gain in Accumulated Other Comprehensive Income (Loss) “AOCI/L” Interest Expense
Summary of Changes in Other Comprehensive Income (Loss)	The following table presents these changes in Other Comprehensive Income (Loss) Three Months Ended March 31, 2018 2017 Derivative net investment hedges (1) $ 3,093 $ 2,294 Cash flow hedges (2) (9,285 ) 429 Our share of derivatives from unconsolidated co-investment ventures 2,998 2,202 Total derivative hedging instruments (3,194 ) 4,925 Nonderivative net investment hedges (3) (4) (109,877 ) (44,526 ) Total derivative and nonderivative hedging instruments – gains (losses) $ (113,071 ) $ (39,601 ) Cumulative translation adjustment 111,554 81,899 Total change in other comprehensive income (loss) $ (1,517 ) $ 42,298 (1) We paid $4.0 million and received $1.8 million for the three months ended March 31, 2018 and 2017, respectively, on the settlement of net investment hedges. (2) The amounts reclassified to interest expense due to the amortization of previously settled cash flow hedges for the three months ended March 31, 2018 and 2017, were $1.1 million and $1.4 million, respectively. Additionally, during the three months ended March 31, 2018 we reclassified the settlement of the interest rate swap contracts on the 2015 Canadian Term Loan, as discussed above. For the next 12 months from March 31, 2018, we estimate an additional expense of $4.3 million will be reclassified to Interest Expense (3) At March 31, 2018 and December 31, 2017, we had €3.0 billion ($3.6 billion) and €3.1 billion ($3.6 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 $9.2 million and $4.1 million in Foreign Currency and Derivative Losses, Net (4) At March 31, 2018 and December 31, 2017, we had £213.7 million ($295.3 million) and £323.7 million ($436.0 million) of debt, net of accrued interest, respectively, designated as a nonderivative financial instrument hedge of our net investment in international subsidiaries. We recognized unrealized losses of $15.1 million in Foreign Currency and Derivative Losses, Net on the unhedged portion of our debt, net of accrued interest, for the three months ended March 31, 2018. We did not recognize any gains or losses for the three months ended March 31, 2017.
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, 2018 December 31, 2017 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 336,848 $ 336,909 $ 317,392 $ 317,496 Senior notes 6,695,747 7,079,764 6,067,277 6,537,100 Term loans and unsecured other 1,469,849 1,483,207 2,060,491 2,075,002 Secured mortgages 957,733 1,004,500 967,471 1,026,197 Total $ 9,460,177 $ 9,904,380 $ 9,412,631 $ 9,955,795

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Reporting, Reconciliation of Revenues, Operating Income and Assets	The following reconciliations are presented in thousands: Three Months Ended March 31, 2018 2017 Segment revenues: Real estate operations segment: U.S. $ 499,257 $ 524,147 Other Americas 30,431 15,089 Europe 17,202 18,231 Asia 13,805 14,643 Total real estate operations segment 560,695 572,110 Strategic capital segment: U.S. 16,069 11,908 Other Americas 6,153 6,051 Europe 38,817 26,262 Asia 71,922 12,824 Total strategic capital segment 132,961 57,045 Total segment revenues 693,656 629,155 Segment net operating income: Real estate operations segment: U.S. (1) 369,364 384,100 Other Americas 22,923 9,982 Europe 12,459 12,858 Asia 9,769 9,908 Total real estate operations segment 414,515 416,848 Strategic capital segment: U.S. (1) (4,236 ) 1,939 Other Americas 2,907 3,145 Europe 27,663 16,390 Asia 62,767 3,772 Total strategic capital segment 89,101 25,246 Total segment net operating income 503,616 442,094 Reconciling items: General and administrative expenses 62,428 53,617 Depreciation and amortization expenses 204,081 226,591 Operating income 237,107 161,886 Earnings from unconsolidated entities, net 62,656 48,605 Interest expense (47,245 ) (72,912 ) Interest and other income, net 1,976 2,785 Gains on dispositions of investments in real estate, net 195,111 97,325 Foreign currency and derivative losses, net (41,094 ) (7,400 ) Earnings before income taxes $ 408,511 $ 230,289 March 31, December 31, 2018 2017 Segment assets: Real estate operations segment: U.S. $ 19,054,745 $ 19,058,610 Other Americas 1,787,608 1,767,385 Europe 1,037,712 1,008,340 Asia 953,788 1,083,764 Total real estate operations segment 22,833,853 22,918,099 Strategic capital segment: U.S. 16,756 16,818 Europe 25,280 25,280 Asia 360 544 Total strategic capital segment 42,396 42,642 Total segment assets 22,876,249 22,960,741 Reconciling items: Investments in and advances to unconsolidated entities 5,675,999 5,496,450 Assets held for sale or contribution 473,154 342,060 Notes receivable backed by real estate - 34,260 Cash and cash equivalents 458,099 447,046 Other assets 187,984 200,518 Total reconciling items 6,795,236 6,520,334 Total assets $ 29,671,485 $ 29,481,075 (1) This includes compensation and personnel costs for employees who were located in the U.S. but also support other regions.

General - Additional Informatio

General - Additional Information (Detail) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)Segmentshares	Dec. 31, 2017Ground	Mar. 31, 2017USD ($)
General [Line Items]
Number of reportable segments | Segment	2
Percentage of common limited partnership interest	2.89%
Capitalized cost | $	$ 5.4		$ 6.5
Number of ground and office space leases | Ground		90
General Partner | Prologis Limited Partnership [Member]
General [Line Items]
Percentage of ownership in operating partnership	97.11%
Preferred [Member] | Prologis Limited Partnership [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, 2018USD ($)ft²aBuildings	Dec. 31, 2017USD ($)ft²aBuildings
Real Estate Properties [Line Items]
Total investments in real estate properties	$ 25,876,002	$ 25,838,644
Less accumulated depreciation	4,199,159	4,059,348
Net investments in real estate properties	$ 21,676,843	$ 21,779,296
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	$ 5,700,945	$ 5,735,978
Building and Improvements [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	290,474	294,811
Number of buildings | Buildings	1,511	1,525
Total investments in real estate properties	$ 16,720,688	$ 16,849,349
Development Portfolio, Including Cost of Land: Pre-stabilized [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	6,512	7,345
Number of buildings | Buildings	22	22
Total investments in real estate properties	$ 501,772	$ 546,173
Properties Under Development [Member]
Real Estate Properties [Line Items]
Square Feet | ft²	23,116	22,216
Number of buildings | Buildings	62	63
Total investments in real estate properties	$ 1,195,715	$ 1,047,316
Land [Member]
Real Estate Properties [Line Items]
Square Feet | a	5,224	5,191
Total investments in real estate properties	$ 1,231,759	$ 1,154,383
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	$ 525,123	$ 505,445

Real Estate - Investments in 32

Real Estate - Investments in Real Estate Properties (Parenthetical) (Detail) - Land [Member] $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)a	Dec. 31, 2017a
Real Estate Properties [Line Items]
Square feet	5,224	5,191
Acquisition of net investments in real estate properties, square feet	379
Acquisition value of net investments in real estate properties | $	$ 134.9

Real Estate - Summary of Dispos

Real Estate - Summary of Dispositions (Detail) ft² in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)ft²Property	Mar. 31, 2017USD ($)ft²Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gains on dispositions of investments in real estate, net	$ 195,111	$ 97,325
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	8	5
Square feet | ft²	3,078	2,769
Net proceeds	$ 539,822	$ 397,489
Gains on contributions, dispositions, revaluations or redemptions, net	$ 167,726	$ 88,366
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	11	18
Square feet | ft²	1,303	2,318
Net proceeds	$ 87,981	$ 243,389
Gains on contributions, dispositions, revaluations or redemptions, net	$ 27,385	$ 8,959

Unconsolidated Entities - Summa

Unconsolidated Entities - Summary of Investments in and Advances to our Unconsolidated Entities (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	$ 5,675,999	$ 5,496,450
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	5,468,405	5,274,702
Other Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	$ 207,594	$ 221,748

Unconsolidated Entities - Sum35

Unconsolidated Entities - Summary of Strategic Capital Revenues Recognized in Consolidated Statements of Income Related to Co-Investment Ventures (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Schedule Of Equity Method Investments [Line Items]
Total strategic capital revenues from unconsolidated co-investment ventures, net	$ 132,961	$ 57,045
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Recurring fees	54,644	44,195
Transactional fees	15,624	8,593
Promote revenues	62,544	3,146
Total strategic capital revenues from unconsolidated co-investment ventures, net	$ 132,812	$ 55,934

Unconsolidated Entities - Sum36

Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Detail) $ in Thousands, ft² in Millions		3 Months Ended
		Mar. 31, 2018USD ($)ft²PropertyVenture	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)ft²PropertyVenture
Schedule Of Equity Method Investments [Line Items]
Our earnings from unconsolidated co-investment ventures, net		$ 62,656	$ 48,605
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		8		8
Number of buildings | Property		1,548		1,559
Square feet | ft²		331		332
Total assets		$ 29,801,000		$ 28,899,000
Third-party debt		8,375,000		8,079,000
Total liabilities		10,125,000		9,642,000
Our investment balance	[1]	5,468,000		$ 5,275,000
Total revenues		617,000	500,000
Net earnings		162,000	150,000
Our earnings from unconsolidated co-investment ventures, net		$ 55,000	45,000
Unconsolidated Co-Investment Ventures [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		1		1
Number of buildings | Property		552		552
Square feet | ft²		88		88
Total assets		$ 7,009,000		$ 7,062,000
Third-party debt		2,278,000		2,313,000
Total liabilities		2,479,000		2,520,000
Our investment balance	[1]	1,372,000		$ 1,383,000
Total revenues		168,000	104,000
Net earnings		13,000	36,000
Our earnings from unconsolidated co-investment ventures, net		$ 5,000	5,000
Unconsolidated Co-Investment Ventures [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		2		2
Number of buildings | Property		205		205
Square feet | ft²		37		37
Total assets		$ 2,102,000		$ 2,118,000
Third-party debt		744,000		756,000
Total liabilities		773,000		782,000
Our investment balance	[1]	555,000		$ 555,000
Total revenues		53,000	64,000
Net earnings		14,000	17,000
Our earnings from unconsolidated co-investment ventures, net		$ 6,000	6,000
Unconsolidated Co-Investment Ventures [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		3		3
Number of buildings | Property		691		707
Square feet | ft²		163		166
Total assets		$ 13,941,000		$ 13,586,000
Third-party debt		2,746,000		2,682,000
Total liabilities		3,884,000		3,655,000
Our investment balance	[1]	2,898,000		$ 2,813,000
Total revenues		288,000	244,000
Net earnings		93,000	73,000
Our earnings from unconsolidated co-investment ventures, net		$ 37,000	30,000
Unconsolidated Co-Investment Ventures [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		2		2
Number of buildings | Property		100		95
Square feet | ft²		43		41
Total assets		$ 6,749,000		$ 6,133,000
Third-party debt		2,607,000		2,328,000
Total liabilities		2,989,000		2,685,000
Our investment balance	[1]	643,000		$ 524,000
Total revenues		108,000	88,000
Net earnings		42,000	24,000
Our earnings from unconsolidated co-investment ventures, net		$ 7,000	$ 4,000
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[2]	28.60%		28.80%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[2]	28.10%		28.20%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[2]	43.40%		43.40%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[2]	32.80%		32.80%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[2]	15.10%		15.10%
[1]	Prologis’ investment balance is presented at our adjusted basis derived from the ventures’ U.S. GAAP information. The difference between our ownership interest of a venture’s equity and our investment balance at March 31, 2018 and December 31, 2017, results principally from three types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018 ($656.9 million and $667.3 million, respectively); (ii) recording additional costs associated with our investment in the venture ($98.0 million and $94.2 million, respectively); and (iii) advances to a venture ($304.0 million and $210.0 million, respectively). For deferred gains from partial sales recorded prior to the adoption the new revenue recognition standard, we will continue to recognize these gains over the lives of the underlying real estate properties or at the time of disposition to a third party.
[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.

Unconsolidated Entities - Sum37

Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Equity Method Investments And Joint Ventures [Abstract]
Deferred gain recognized from contribution of property to a venture	$ 656.9	$ 667.3
Additional costs associated with investment in a venture	98	94.2
Advances to venture	$ 304	$ 210

Unconsolidated Entities - Sum38

Unconsolidated Entities - Summary of Remaining Equity Commitments (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 3,922
Prologis Targeted U S Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 563
Expiration date for remaining commitments range start	2,019
Prologis European Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 1,245	[1]
Expiration date for remaining commitments range start	2,018	[1]
Expiration date for remaining commitments range end	2,019	[1]
Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 155	[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	2,020
Expiration date for remaining commitments range end	2,024
Prologis Inc [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 317
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 European 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	23	[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	3,605
Venture Partners [Member] | Prologis Targeted U S Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	563
Venture Partners [Member] | Prologis European Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	1,245	[1]
Venture Partners [Member] | Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	132	[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 $1.23 U.S. dollars to the euro.
[2]	Equity commitments are denominated in British pounds sterling and reported in U.S. dollars based on an exchange rate of $1.41 U.S. dollars to the British pound sterling.

Unconsolidated Entities - Sum39

Unconsolidated Entities - Summary of Remaining Equity Commitments (Parenthetical) (Detail)	Mar. 31, 2018$ / €$ / £
Prologis European Logistics Fund [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate | $ / €	1.23
Prologis U.K. Logistics Venture [Member]
Schedule Of Equity Method Investments [Line Items]
Exchange rate | $ / £	1.41

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, 2018USD ($)ft²Property	Dec. 31, 2017USD ($)ft²Property
Long Lived Assets Held For Sale [Line Items]
Total assets held for sale or contribution	$ 473,154	$ 342,060
Total liabilities associated with assets held for sale or contribution – included in Other Liabilities	$ 5,335	$ 9,341
Disposal Group Held for Sale Not Discontinued Operations
Long Lived Assets Held For Sale [Line Items]
Number of operating properties | Property	23	22
Square feet | ft²	7,369	5,384

Debt - Debt Summary (Detail)

Debt - Debt Summary (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.80%	2.90%
Debt	$ 9,460,177	$ 9,412,631
Credit Facilities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.40%	1.80%
Debt	$ 336,848	$ 317,392
Senior Notes [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.70%	3.00%
Debt	$ 6,695,747	$ 6,067,277
Term Loan [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.20%	1.70%
Debt	$ 1,456,308	$ 2,046,945
Unsecured Other Debt [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	6.10%	6.10%
Debt	$ 13,541	$ 13,546
Secured Mortgages [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	5.30%	5.30%
Debt	$ 957,733	$ 967,471

Debt - Debt Summary (Parentheti

Debt - Debt Summary (Parenthetical) (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Debt	$ 9,460,177	$ 9,412,631
EUR
Debt Instrument [Line Items]
Debt	4,400,000
JPY
Debt Instrument [Line Items]
Debt	1,300,000
GBP
Debt Instrument [Line Items]
Debt	700,000
CAD
Debt Instrument [Line Items]
Debt	$ 400,000

Debt - Additional Information (

Debt - Additional Information (Detail) € in Millions, $ in Millions, ¥ in Billions	1 Months Ended			3 Months Ended
	Feb. 28, 2018USD ($)	Feb. 28, 2018CAD ($)	Jan. 31, 2018USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2018JPY (¥)	Mar. 31, 2018CAD ($)	Jan. 31, 2018EUR (€)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 3,563,000,000
Issued amount				9,514,086,000
Senior Notes Outstanding				6,700,000,000
Carrying Value of Debt				9,460,177,000					$ 9,412,631,000
Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument maturity date			2020-01
Issued amount			$ 494,200,000	$ 6,739,698,000				€ 400
Effective interest rate				(0.11%)		(0.11%)	(0.11%)
Carrying Value of Debt				$ 6,695,747,000					6,067,277,000
Senior Notes [Member] | Euribor [Member]
Debt Instrument [Line Items]
Interest rate			0.25%	0.25%
2015 Canadian Term Loan [Member]
Debt Instrument [Line Items]
Repayments of debt	$ 158,900,000	$ 201.4
Term loan outstanding				$ 132,200,000			$ 170.5
2017 Term Loan [Member]
Debt Instrument [Line Items]
Repayments of debt				500,000,000	$ 197,700,000
Debt reborrowed during period				0	$ 377,500,000
Term Loan [Member]
Debt Instrument [Line Items]
Carrying Value of Debt				1,456,308,000					$ 2,046,945,000
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				$ 610,600,000		¥ 65
Debt Instrument maturity date				2021-02
Credit facility current borrowing capacity				$ 469,700,000		¥ 50

Debt - Credit Facilities (Detai

Debt - Credit Facilities (Detail) $ in Millions	Mar. 31, 2018USD ($)
Debt Disclosure [Abstract]
Aggregate lender commitments	$ 3,563
Borrowings outstanding	337
Outstanding letters of credit	34
Current availability	$ 3,192

Debt - Long-Term Debt Maturitie

Debt - Long-Term Debt Maturities (Detail) $ in Thousands, € in Millions	Mar. 31, 2018USD ($)	Jan. 31, 2018USD ($)	Jan. 31, 2018EUR (€)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
2,018	$ 164,488
2,019	447,336
2,020	1,582,427
2,021	878,075
2,022	1,343,639
Thereafter	5,098,121
Subtotal	9,514,086
Premiums (discounts), net	(15,643)
Debt issuance costs, net	(38,266)
Total	9,460,177			$ 9,412,631
Credit Facilities [Member]
Debt Instrument [Line Items]
2,018	0
2,019	0
2,020	336,848
2,021	0
2,022	0
Thereafter	0
Subtotal	336,848
Premiums (discounts), net	0
Debt issuance costs, net	0
Total	336,848			317,392
Senior Notes [Member]
Debt Instrument [Line Items]
2,018	0
2,019	0
2,020	1,232,100
2,021	862,470
2,022	862,470
Thereafter	3,782,658
Subtotal	6,739,698	$ 494,200	€ 400
Premiums (discounts), net	(19,082)
Debt issuance costs, net	(24,869)
Total	6,695,747			6,067,277
Term Loans And Other Debt [Member]
Debt Instrument [Line Items]
2,018	935
2,019	1,013
2,020	1,077
2,021	910
2,022	470,464
Thereafter	1,005,341
Subtotal	1,479,740
Premiums (discounts), net	0
Debt issuance costs, net	(9,891)
Total	1,469,849			2,060,491
Secured Mortgages [Member]
Debt Instrument [Line Items]
2,018	163,553
2,019	446,323
2,020	12,402
2,021	14,695
2,022	10,705
Thereafter	310,122
Subtotal	957,800
Premiums (discounts), net	3,439
Debt issuance costs, net	(3,506)
Total	$ 957,733			$ 967,471

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018
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, 2018	Dec. 31, 2017	Mar. 31, 2017
Noncontrolling Interest [Line Items]
Operating Partnership noncontrolling interest		$ 2,643,034	$ 2,660,242
Noncontrolling interests		3,108,045	3,074,583
Total Assets		29,671,485	29,481,075	$ 29,481,075
Total Liabilities		10,883,365	10,775,334
Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Total Assets		6,815,051	6,836,957
Total Liabilities		$ 323,245	$ 314,492
Prologis US Logistics Venture [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership Percentage		55.00%	55.00%
Operating Partnership noncontrolling interest		$ 2,565,165	$ 2,581,629
Total Assets		5,999,624	6,030,819
Total Liabilities		$ 292,833	$ 284,162
Other Consolidated Entities [Member]
Noncontrolling Interest [Line Items]
Parent Company's Ownership	[1]	various	various
Operating Partnership noncontrolling interest	[1]	$ 77,869	$ 78,613
Total Assets	[1]	815,427	806,138
Total Liabilities	[1]	30,412	30,330
Prologis, L.P. [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		2,643,034	2,660,242
Total Assets		29,671,485	29,481,075
Total Liabilities		10,883,365	10,775,334
Prologis, L.P. [Member] | Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Limited partners in Prologis, L.P.	[2],[3]	465,011	414,341
Total Assets	[2],[3]	0	0
Total Liabilities	[2],[3]	0	0
Prologis Inc [Member]
Noncontrolling Interest [Line Items]
Total Assets		6,815,051	6,836,957
Total Liabilities		323,245	314,492
Prologis Inc [Member] | Non-controlling Interests [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interests		$ 3,108,045	$ 3,074,583
[1]	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. The limited partnership units outstanding at March 31, 2018 and December 31, 2017 were exchangeable into cash or, at our option, 1.0 million shares of the Parent’s common stock.
[2]	At March 31, 2018 and December 31, 2017, excluding the Class A Units, there were limited partnership units in the OP that were exchangeable into cash or, at our option, 3.9 million shares and 4.1 million shares of the Parent’s common stock
[3]	We had 8.9 million Class A Units that were convertible into 8.5 million limited partnership units of the OP at March 31, 2018 and December 31, 2017, respectively.

Noncontrolling Interests - No48

Noncontrolling Interests - Noncontrolling Interest Summary (Parenthetical) (Detail) - shares shares in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Noncontrolling Interest [Line Items]
Business acquisition, common units issued	3.9	4.1
Class A Common [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units, exchanged	8.5	8.5
Units outstanding	8.9	8.9
Other Consolidated Entities [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units, exchanged	1	0
Other Consolidated Entities [Member] | Common Stock [Member]
Noncontrolling Interest [Line Items]
Outstanding limited partnership units	1	1

Long-Term Compensation - Additi

Long-Term Compensation - Additional Information (Detail) - USD ($) shares in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2018	Mar. 31, 2018
Prologis Out-Performance Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance Period		3 years
Outperformance hurdle, above MSCI U.S. REIT Index		1.00%
Prologis Out-Performance Plan [Member] | 2018 - 2020 Performance Periods [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance Period		3 years
Cash incentive award maximum		$ 100,000,000
Holding period		3 years
Aggregate fair value		$ 23,300,000
Assumed risk free interest rate		2.10%
Expected volatility rate		16.50%
Prologis Out-Performance Plan [Member] | 2018 - 2020 Performance Periods [Member] | Tranche 1 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rights, percentage		20.00%
Prologis Out-Performance Plan [Member] | 2018 - 2020 Performance Periods [Member] | Tranche 2 (After Seven Year Cliff) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		7 years
Vesting rights, percentage		80.00%
Prologis Out-Performance Plan [Member] | 2015 - 2017 Performance Periods [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate of performance pool award	$ 110,200,000
Common stock	0.6
Aggregate fair value	1.2
Prologis Out-Performance Plan [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		3 years
Prologis Out-Performance Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		10 years
PPP and Annual LTI Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		4 years

Long-Term Compensation - RSU Aw

Long-Term Compensation - RSU Awards (Detail) - Restricted Stock Units (RSUs) [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Unvested Awards, Beginning Balance | shares	1,374
Granted | shares	676
Vested and distributed | shares	(709)
Forfeited | shares	(7)
Number of Unvested Awards, Ending Balance | shares	1,334
Weighted Average Grant Date Fair Value | $ / shares	$ 45.57
Weighted Average Grant Date Fair Value, Granted | $ / shares	60.74
Weighted Average Grant Date Fair Value, Vested and distributed | $ / shares	44.65
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	49.47
Weighted Average Grant Date Fair Value | $ / shares	$ 53.74

Long-Term Compensation - LTIP U

Long-Term Compensation - LTIP Units Awards (Detail) - Long Term Incentive Plan Units [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Beginning Balance	1,532
Vested LTIP Units	783
Vested LTIP Units – POP	1,170
Conversion to common limited partnership units	(25)
Number of Shares, Ending Balance	3,460
Number of Unvested Awards, Beginning Balance	1,829
Granted	1,244
Forfeited	(53)
Vested LTIP Units	(783)
Number of Unvested Awards, Ending Balance	2,237
Weighted Average Grant Date Fair Value | $ / shares	$ 46.48
Unvested Weighted Average Grant Date Fair Value, Granted | $ / shares	60.94
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	45.70
Unvested Weighted Average Grant Date Fair Value, Vested LTIP Units | $ / shares	44.58
Weighted Average Grant Date Fair Value, Vested LTIP Units - POP | $ / shares	0
Weighted Average Gant Date Fair Value, Conversion to common limited partnership units | $ / shares	0
Weighted Average Grant Date Fair Value | $ / shares	$ 55.20

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, 2018	Mar. 31, 2017
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic	$ 365,902	$ 203,255
Net earnings attributable to exchangeable limited partnership units	10,693	5,967
Adjusted net earnings attributable to common stockholders – Diluted	$ 376,595	$ 209,222
Weighted average common shares/units outstanding – Basic	532,185	528,721
Incremental weighted average effect on exchange of limited partnership units	16,270	16,455
Incremental weighted average effect of equity awards	5,668	4,834
Weighted average common shares/partnership units outstanding - Diluted	554,123	550,010
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 0.69	$ 0.38
Diluted	$ 0.68	$ 0.38
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	$ 376,425	$ 208,878
Net earnings attributable to exchangeable limited partnership units	170	344
Adjusted net earnings attributable to common stockholders – Diluted	$ 376,595	$ 209,222
Weighted average common shares/units outstanding – Basic	538,977	534,685
Incremental weighted average effect on exchange of Class A convertible units	8,512	8,664
Incremental weighted average effect on exchange of limited partnership units	966	1,827
Incremental weighted average effect of equity awards	5,668	4,834
Weighted average common shares/partnership units outstanding - Diluted	554,123	550,010
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic	$ 0.69	$ 0.38
Diluted	$ 0.68	$ 0.38
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	$ (5,853)	$ (3,331)
Adjusted net earnings attributable to common stockholders – Diluted	5,853	3,331
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	$ 370,572	$ 205,547

Earnings Per Common Share or 53

Earnings Per Common Share or Unit - Computation of Basic and Diluted Earnings Per Share Unit (Parenthetical) (Detail) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potential dilutive shares and units outstanding	24,650	24,733
Prologis, L.P. [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potentially dilutive limited partnership units	9,478	10,491
Total weighted average potentially dilutive stock awards	8,380	8,278
Total weighted average potential dilutive shares and units outstanding	17,858	18,769
Total weighted average potential dilutive shares and units outstanding limited partnership	6,792	5,964

Financial Instruments and Fai54

Financial Instruments and Fair Value Measurements - Schedule of Fair Value and Classification of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Derivatives Fair Value [Line Items]
Asset	$ 2,127	$ 19,139
Liability	37,664	32,229
Forwards and Options [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	436	0
Liability	592	1,698
Forwards and Options [Member] | GBP
Derivatives Fair Value [Line Items]
Asset	0	2,440
Liability	12,090	8,103
Forwards and Options [Member] | EUR
Derivatives Fair Value [Line Items]
Asset	28	2
Liability	19,365	14,234
Forwards and Options [Member] | JPY
Derivatives Fair Value [Line Items]
Asset	1,663	6,474
Liability	5,009	931
Interest Rate Hedges [Member]
Derivatives Fair Value [Line Items]
Asset	0	0
Liability	0	0
Net Investment Hedges [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	0	0
Liability	123	7,263
Cash Flow Hedges [Member]
Derivatives Fair Value [Line Items]
Asset	0	10,223
Liability	$ 485	$ 0

Financial Instruments and Fai55

Financial Instruments and Fair Value Measurements - Foreign Currency Contracts Activity (Detail)	3 Months Ended
	Mar. 31, 2018USD ($)Derivative$ / $¥ / $€ / $£ / $¥ / $		Mar. 31, 2018JPY (¥)Derivative$ / $¥ / $€ / $£ / $¥ / $	Mar. 31, 2018EUR (€)Derivative$ / $¥ / $€ / $£ / $¥ / $	Mar. 31, 2018CAD ($)Derivative$ / $¥ / $€ / $£ / $¥ / $	Mar. 31, 2018CNY (¥)Derivative$ / $¥ / $€ / $£ / $¥ / $	Mar. 31, 2018GBP (£)Derivative$ / $¥ / $€ / $£ / $¥ / $	Mar. 31, 2017USD ($)		Mar. 31, 2017JPY (¥)	Mar. 31, 2017EUR (€)	Mar. 31, 2017CAD ($)	Mar. 31, 2017GBP (£)
Net Investment Hedges [Member] | CAD
Derivative [Line Items]
Notional amounts at January 1	$ 99,000,000	[1]			$ 133,000,000			$ 100,000,000				$ 133,000,000
New contracts	100,000,000	[1]			128,000,000			99,000,000				133,000,000
Matured, expired or settled contracts	(99,000,000)	[1]			(133,000,000)			(100,000,000)				(133,000,000)
Notional amounts at March 31	$ 100,000,000	[1]			$ 128,000,000			99,000,000				133,000,000
Weighted average forward rate at March 31 | $ / $	1.28		1.28	1.28	1.28	1.28	1.28
Active contracts at March 31	2		2	2	2	2	2
Net Investment Hedges [Member] | GBP
Derivative [Line Items]
Notional amounts at January 1								46,000,000					£ 31,000,000
New contracts								127,000,000					100,000,000
Matured, expired or settled contracts								0					0
Notional amounts at March 31								173,000,000					131,000,000
Forwards and Options [Member] | CAD
Derivative [Line Items]
Notional amounts at January 1	$ 56,000,000	[1]			$ 72,000,000			38,000,000	[2]			50,000,000
New contracts	5,000,000	[1]			6,000,000			0	[2]			0
Matured, expired or settled contracts	(6,000,000)	[1]			(8,000,000)			(6,000,000)	[2]			(7,000,000)
Notional amounts at March 31	$ 55,000,000	[1]			$ 70,000,000			32,000,000	[3]			$ 43,000,000
Weighted average forward rate at March 31 | $ / $	1.28		1.28	1.28	1.28	1.28	1.28
Active contracts at March 31	24		24	24	24	24	24
Forwards and Options [Member] | CNY
Derivative [Line Items]
Notional amounts at January 1	$ 0	[1]				¥ 0
New contracts	80,000,000	[1]				519,000,000
Matured, expired or settled contracts	(80,000,000)	[1]				(519,000,000)
Notional amounts at March 31	$ 0	[1]				¥ 0
Weighted average forward rate at March 31 | ¥ / $	0		0	0	0	0	0
Active contracts at March 31	0		0	0	0	0	0
Forwards and Options [Member] | JPY
Derivative [Line Items]
Notional amounts at January 1	$ 153,000,000	[3]	¥ 16,200,000,000					144,000,000	[3]	¥ 15,500,000,000
New contracts	0	[3]	0					19,000,000	[3]	2,000,000,000
Matured, expired or settled contracts	(19,000,000)	[3]	(2,000,000,000)					(16,000,000)	[3]	(1,750,000,000)
Notional amounts at March 31	$ 134,000,000	[3]	¥ 14,200,000,000					147,000,000	[3]	¥ 15,750,000,000
Weighted average forward rate at March 31 | ¥ / $	106.20		106.20	106.20	106.20	106.20	106.20
Active contracts at March 31	30		30	30	30	30	30
Forwards and Options [Member] | EUR
Derivative [Line Items]
Notional amounts at January 1	$ 233,000,000	[3]		€ 199,000,000				197,000,000	[3]		€ 174,000,000
New contracts	28,000,000	[3]		23,000,000				36,000,000	[3]		32,000,000
Matured, expired or settled contracts	(25,000,000)	[3]		(22,000,000)				(30,000,000)	[3]		(26,000,000)
Notional amounts at March 31	$ 236,000,000	[3]		€ 200,000,000				203,000,000	[3]		€ 180,000,000
Weighted average forward rate at March 31 | € / $	1.18		1.18	1.18	1.18	1.18	1.18
Active contracts at March 31	29		29	29	29	29	29
Forwards and Options [Member] | GBP
Derivative [Line Items]
Notional amounts at January 1	$ 132,000,000	[3]					£ 102,000,000	78,000,000	[3]				48,000,000
New contracts	0	[3]					0	80,000,000	[3]				63,000,000
Matured, expired or settled contracts	(24,000,000)	[3]					(18,000,000)	(22,000,000)	[3]				(15,000,000)
Notional amounts at March 31	$ 108,000,000	[3]					£ 84,000,000	$ 136,000,000	[3]				£ 96,000,000
Weighted average forward rate at March 31 | £ / $	1.30		1.30	1.30	1.30	1.30	1.30
Active contracts at March 31	18		18	18	18	18	18
[1]	During the three months ended March 31, 2018, we settled two Canadian net investment hedges. See Other Comprehensive Income (Loss) discussed below for the impact of these hedges on our Consolidated Statements of Comprehensive Income during the periods presented
[2]	During the three months ended March 31, 2018 and 2017, we exercised 15 and 11 forward and option contracts, respectively. We realized losses of $6.8 million and gains of $5.3 million for the three months ended March 31, 2018 and 2017, respectively, from the contracts that matured, expired or settled in Foreign Currency and Derivative Losses, Net in the Consolidated Statements of Income
[3]	During the three months ended March 31, 2018 and 2017, we exercised 15 and 11 forward and option contracts, respectively. We realized losses of $6.8 million and gains of $5.3 million for the three months ended March 31, 2018 and 2017, respectively, from the contracts that matured, expired or settled in Foreign Currency and Derivative Losses, Net in the Consolidated Statements of Income.

Financial Instruments and Fai56

Financial Instruments and Fair Value Measurements - Foreign Currency Contracts Activity (Parenthetical) (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)DerivativeContracts	Mar. 31, 2017USD ($)Contracts
Derivative [Line Items]
Number of forward and option contracts exercised | Contracts	15	11
Gains (losses) from forward and option contracts exercised | $	$ (6.8)	$ 5.3
Net Investment Hedges [Member] | CAD
Derivative [Line Items]
Number of investment hedges settled | Derivative	2

Financial Instruments and Fai57

Financial Instruments and Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivatives Fair Value [Line Items]
Hedge ineffectiveness	$ 0	$ 0
Foreign Currency Options [Member]
Derivatives Fair Value [Line Items]
Unrealized losses on foreign exchange transactions	$ 12,900,000	$ 13,700,000

Financial Instruments and Fai58

Financial Instruments and Fair Value Measurements - Summary of Activity in Interest Rate Swaps (Detail) - Interest Rate Swaps [Member] - USD ($)		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Derivative [Line Items]
Notional amounts at January 1		$ 271,000	$ 271,000
New contracts	[1]	500,000	0
Matured, expired or settled contracts	[2]	(271,000)	0
Notional amounts at March 31		$ 500,000	$ 271,000
[1]	During the three months ended March 31, 2018, we entered into two contracts with an aggregated notional amount of €400.0 million ($499.7 million) to effectively fix the interest rate on our senior notes bearing a floating rate of Euribor plus 0.25% issued in January 2018.
[2]	During 2018, we repaid CAD $201.4 million ($158.9 million) on our 2015 Canadian Term Loan, leaving CAD $170.5 million ($132.2 million at March 31, 2018) outstanding. At that time, we settled the interest rate swap contracts related to the 2015 Canadian Term Loan and we determined it was no longer probable that we would continue to have the future cash flows as originally hedged. As a result, the $12.5 million gain in Accumulated Other Comprehensive Income (Loss) “AOCI/L” at the time of settlement was reclassified to Interest Expense during the three months ended March 31, 2018.

Financial Instruments and Fai59

Financial Instruments and Fair Value Measurements - Summary of Activity in Interest Rate Swaps (Parenthetical) (Detail) € in Millions, $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2018	Mar. 31, 2018USD ($)Contract	Mar. 31, 2018CAD ($)Contract	Mar. 31, 2018EUR (€)	Mar. 31, 2018CAD ($)	Dec. 31, 2017USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Interest Rate Swaps [Member]
Derivative [Line Items]
Notional value of derivative		$ 500,000				$ 271,000	$ 271,000	$ 271,000
Senior Notes [Member] | Interest Rate Swaps [Member]
Derivative [Line Items]
Number of Contracts | Contract		2	2
Notional value of derivative		$ 499,700,000		€ 400
2015 Canadian Term Loan [Member] | Interest Rate Swaps [Member]
Derivative [Line Items]
Notional value of derivative		132,200,000			$ 170.5
Repayments of debt		158,900,000	$ 201.4
Gain on derivative		$ 12,500,000
Euribor [Member] | Senior Notes [Member]
Derivative [Line Items]
Interest rate	0.25%	0.25%	0.25%

Financial Instruments and Fai60

Financial Instruments and Fair Value Measurements - Summary of Changes in Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative hedging instruments	$ (3,194)	$ 4,925
Total derivative and nonderivative hedging instruments – gains (losses)	(113,071)	(39,601)
Cumulative translation adjustment	111,554	81,899
Total change in other comprehensive income (loss)	(1,517)	42,298
Designated As Hedging Instrument [Member] | Derivative Net Investment Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative hedging instruments	3,093	2,294
Designated As Hedging Instrument [Member] | Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative hedging instruments	(9,285)	429
Designated As Hedging Instrument [Member] | Our Share of Derivatives from Unconsolidated Co-Investment Ventures [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative hedging instruments	2,998	2,202
Non-Derivative Net Investment Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Nonderivative net investment hedges	$ (109,877)	$ (44,526)

Financial Instruments and Fai61

Financial Instruments and Fair Value Measurements - Summary of Changes in Other Comprehensive Income (Loss) (Parenthetical) (Detail) $ in Thousands, £ in Millions, € in Billions	3 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2018EUR (€)	Mar. 31, 2018GBP (£)	Dec. 31, 2017USD ($)	Dec. 31, 2017EUR (€)	Dec. 31, 2017GBP (£)
Derivative Instruments Gain Loss [Line Items]
Amount paid for (received from) on the settlement of net investment hedges	$ (4,000)	$ (1,800)
Interest expense reclassified	47,245	72,912
Debt	9,460,177				$ 9,412,631
Amount of gain (loss) included in AOCI	(4,770)	(39,667)
Senior notes	6,700,000
Forward Contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of gain (loss) included in AOCI	9,200	4,100
Foreign Currency Options [Member]
Derivative Instruments Gain Loss [Line Items]
Amount of gain (loss) included in AOCI	15,100	0
Designated As Hedging Instrument [Member] | Forward Contracts [Member]
Derivative Instruments Gain Loss [Line Items]
Debt	3,600,000		€ 3		3,600,000	€ 3.1
Designated As Hedging Instrument [Member] | Foreign Currency Options [Member]
Derivative Instruments Gain Loss [Line Items]
Senior notes	295,300			£ 213.7	$ 436,000		£ 323.7
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Derivative Instruments Gain Loss [Line Items]
Interest expense reclassified	1,100	$ 1,400
Amount to be reclassified to interest expense, next 12 months	$ 4,300

Financial Instruments and Fai62

Financial Instruments and Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	$ 9,460,177	$ 9,412,631
Fair Value of Debt	9,904,380	9,955,795
Credit Facilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	336,848	317,392
Fair Value of Debt	336,909	317,496
Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	6,695,747	6,067,277
Fair Value of Debt	7,079,764	6,537,100
Term Loans and Unsecured Other Debt [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	1,469,849	2,060,491
Fair Value of Debt	1,483,207	2,075,002
Secured Mortgages [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	957,733	967,471
Fair Value of Debt	$ 1,004,500	$ 1,026,197

Business Segments - Additional

Business Segments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018Segment
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, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Total revenues	$ 693,656	$ 629,155
Operating income	237,107	161,886
General and administrative expenses	62,428	53,617
Depreciation and amortization expenses	204,081	226,591
Earnings from unconsolidated entities, net	62,656	48,605
Interest expense	(47,245)	(72,912)
Interest and other income, net	1,976	2,785
Gains on dispositions of investments in real estate, net	195,111	97,325
Foreign currency and derivative losses, net	(41,094)	(7,400)
Earnings before income taxes	408,511	230,289
Total assets	29,671,485	29,481,075	$ 29,481,075
Investments in and advances to unconsolidated entities	5,675,999		5,496,450
Assets held for sale or contribution	473,154		342,060
Notes receivable backed by real estate	0		34,260
Cash and cash equivalents	458,099	395,829	447,046	$ 807,316
Other assets	1,387,390		$ 1,381,963
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total revenues	693,656	629,155
Operating income	503,616	442,094
Total assets	22,876,249	22,960,741
Operating Segments [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	560,695	572,110
Operating income	414,515	416,848
Total assets	22,833,853	22,918,099
Operating Segments [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	132,961	57,045
Operating income	89,101	25,246
Total assets	42,396	42,642
Operating Segments [Member] | U.S. [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	499,257	524,147
Operating income	369,364	384,100
Total assets	19,054,745	19,058,610
Operating Segments [Member] | U.S. [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	16,069	11,908
Operating income	(4,236)	1,939
Total assets	16,756	16,818
Operating Segments [Member] | Other Americas [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	30,431	15,089
Operating income	22,923	9,982
Total assets	1,787,608	1,767,385
Operating Segments [Member] | Other Americas [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	6,153	6,051
Operating income	2,907	3,145
Operating Segments [Member] | Europe [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	17,202	18,231
Operating income	12,459	12,858
Total assets	1,037,712	1,008,340
Operating Segments [Member] | Europe [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	38,817	26,262
Operating income	27,663	16,390
Total assets	25,280	25,280
Operating Segments [Member] | Asia [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	13,805	14,643
Operating income	9,769	9,908
Total assets	953,788	1,083,764
Operating Segments [Member] | Asia [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	71,922	12,824
Operating income	62,767	3,772
Total assets	360	544
Reconciling Items [Member]
Segment Reporting Information [Line Items]
Operating income	237,107	161,886
General and administrative expenses	62,428	53,617
Depreciation and amortization expenses	204,081	226,591
Earnings from unconsolidated entities, net	62,656	48,605
Interest expense	(47,245)	(72,912)
Interest and other income, net	1,976	2,785
Gains on dispositions of investments in real estate, net	195,111	97,325
Foreign currency and derivative losses, net	(41,094)	(7,400)
Total assets	6,795,236	6,520,334
Investments in and advances to unconsolidated entities	5,675,999	5,496,450
Assets held for sale or contribution	473,154	342,060
Notes receivable backed by real estate	0	34,260
Cash and cash equivalents	458,099	447,046
Other assets	$ 187,984	$ 200,518

Supplemental Cash Flow Inform65

Supplemental Cash Flow Information - Additional Information (Detail) - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Supplemental Cash Flow Information [Line Items]
Capitalization for equity based compensation expense	$ 7.5	$ 7
Shares redeemed for cash	200	0
Interest paid, net of amounts capitalized	$ 82.9	$ 111.5
Cash paid for income taxes, net of refunds	24.8	15.2
Unconsolidated Entities [Member]
Supplemental Cash Flow Information [Line Items]
Equity ownership interest received	$ 50.6	$ 10.2
Limited Partners [Member] | Prologis, L.P. [Member] | Common [Member]
Supplemental Cash Flow Information [Line Items]
Limited partnerships units redeemed	213	600