Prologis 10-Q 26 Oct 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Oct. 22, 2021
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Registrant Name	Prologis, Inc.
Entity Central Index Key	0001045609
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		739,327,000
Entity Shell Company	false
Entity File Number	001-13545
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	94-3281941
Entity Address, Address Line One	Pier 1, Bay 1
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94111
City Area Code	415
Local Phone Number	394-9000
Document Quarterly Report	true
Document Transition Report	false
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	PLD
Security Exchange Name	NYSE
Prologis LP [Member]
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Registrant Name	Prologis, L.P.
Entity Central Index Key	0001045610
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	001-14245
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-3285362
Entity Address, Address Line One	Pier 1, Bay 1
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94111
City Area Code	415
Local Phone Number	394-9000
Document Quarterly Report	true
Document Transition Report	false
Prologis LP [Member] | Notes 3.000 Percent Due 2026 [Member]
Document Information [Line Items]
Title of 12(b) Security	3.000% Notes due 2026
Trading Symbol	PLD/26
Security Exchange Name	NYSE
Prologis LP [Member] | Notes 2.250 Percent Due 2029 [Member]
Document Information [Line Items]
Title of 12(b) Security	2.250% Notes due 2029
Trading Symbol	PLD/29
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
ASSETS
Investments in real estate properties	$ 52,458,694	$ 50,384,328
Less accumulated depreciation	7,404,304	6,539,156
Net investments in real estate properties	45,054,390	43,845,172
Investments in and advances to unconsolidated entities	7,652,323	7,602,014
Assets held for sale or contribution	571,671	1,070,724	[1]
Net investments in real estate	53,278,384	52,517,910
Cash and cash equivalents	585,071	598,086
Other assets	3,153,215	2,949,009
Total assets	57,016,670	56,065,005
Liabilities:
Debt	17,135,668	16,849,076
Accounts payable and accrued expenses	1,441,776	1,143,372
Other liabilities	1,681,752	1,747,977
Total liabilities	20,259,196	19,740,425
Prologis, Inc. stockholders’ equity:
Series Q preferred stock at stated liquidation preference of $50 per share; $0.01 par value; 1,279 shares issued and outstanding and 100,000 preferred shares authorized at September 30, 2021 and December 31, 2020	63,948	63,948
Common stock; $0.01 par value; 739,323 shares and 739,381 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively	7,393	7,394
Additional paid-in capital	35,526,671	35,488,634
Accumulated other comprehensive loss	(983,906)	(1,193,739)
Distributions in excess of net earnings	(2,107,989)	(2,394,690)
Total Prologis, Inc. stockholders’ equity	32,506,117	31,971,547
Noncontrolling interests	4,251,357	4,353,033
Total equity	36,757,474	36,324,580
Total liabilities and equity	57,016,670	56,065,005
Partners’ capital:
Noncontrolling interests	4,251,357	4,353,033
Total equity	36,757,474	36,324,580
Prologis, L.P. [Member]
ASSETS
Investments in real estate properties	52,458,694	50,384,328
Less accumulated depreciation	7,404,304	6,539,156
Net investments in real estate properties	45,054,390	43,845,172
Investments in and advances to unconsolidated entities	7,652,323	7,602,014
Assets held for sale or contribution	571,671	1,070,724
Net investments in real estate	53,278,384	52,517,910
Cash and cash equivalents	585,071	598,086
Other assets	3,153,215	2,949,009
Total assets	57,016,670	56,065,005
Liabilities:
Debt	17,135,668	16,849,076
Accounts payable and accrued expenses	1,441,776	1,143,372
Other liabilities	1,681,752	1,747,977
Total liabilities	20,259,196	19,740,425
Prologis, Inc. stockholders’ equity:
Noncontrolling interests	3,335,787	3,483,526
Total liabilities and equity	57,016,670	56,065,005
Partners’ capital:
Total partners’ capital	33,421,687	32,841,054
Noncontrolling interests	3,335,787	3,483,526
Total capital	36,757,474	36,324,580
Prologis, L.P. [Member] | Preferred [Member]
Partners’ capital:
General partner	63,948	63,948
Prologis, L.P. [Member] | Common [Member]
Partners’ capital:
General partner	32,442,169	31,907,599
Limited partners	564,480	523,954
Prologis, L.P. [Member] | Class A Common [Member]
Partners’ capital:
Limited partners	$ 351,090	$ 345,553
[1]	At December 31, 2020, Assets Held for Sale or Contribution included certain properties acquired through the Liberty Transaction and the IPT Transaction that were subsequently sold during 2021.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Preferred stock, liquidation preference per share	$ 50	$ 50
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, shares issued	1,279,000	1,279,000
Preferred stock, shares outstanding	1,279,000	1,279,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	739,323,000	739,381,000
Common stock, shares outstanding	739,323,000	739,381,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 30, 2021		Sep. 30, 2020	Sep. 30, 2021		Sep. 30, 2020
Revenues:
Rental		$ 1,037,281		$ 980,148	$ 3,073,700		$ 2,803,321
Strategic capital		141,448		98,993	390,796		516,242
Development management and other		4,320		3,632	17,711		7,575
Total revenues		1,183,049		1,082,773	3,482,207		3,327,138
Expenses:
Rental		256,607		245,490	779,624		705,217
Strategic capital		52,389		45,791	146,938		173,910
General and administrative		66,970		74,348	219,344		208,701
Depreciation and amortization		390,806		400,738	1,181,117		1,144,903
Other		4,413		3,020	15,051		25,573
Total expenses		771,185		769,387	2,342,074		2,258,304
Operating income before gains on real estate transactions, net		411,864		313,386	1,140,133		1,068,834
Gains on dispositions of development properties and land, net		139,406		134,207	500,410		383,373
Gains on other dispositions of investments in real estate, net		214,390	[1]	108,927	358,180	[1]	184,357
Operating income		765,660		556,520	1,998,723		1,636,564
Other income (expense):
Earnings from unconsolidated entities, net		91,818		73,972	231,286		216,844
Interest expense		(63,638)		(80,711)	(203,331)		(237,651)
Interest and other income (expense), net		(846)		(5,866)	4,615		(4,469)
Foreign currency and derivative gains (losses), net		64,172		(100,974)	138,244		(48,481)
Losses on early extinguishment of debt, net		0		(98,266)	(187,453)		(164,606)
Total other income (expense)		91,506		(211,845)	(16,639)		(238,363)
Earnings before income taxes		857,166		344,675	1,982,084		1,398,201
Total income tax expense		(59,435)		(12,154)	(134,347)		(89,578)
Consolidated net earnings		797,731		332,521	1,847,737		1,308,623
Less net earnings attributable to noncontrolling interests		74,193		29,827	156,676		108,703
Net earnings attributable to controlling interests		723,538		302,694	1,691,061		1,199,920
Less preferred stock/unit dividends/distributions		1,531		1,652	4,614		4,921
Loss on preferred stock/unit repurchase		0		2,347	0		2,347
Net earnings attributable to common stockholders/unitholders		$ 722,007		$ 298,695	$ 1,686,447		$ 1,192,652
Weighted average common shares/units outstanding - Basic		739,439		738,194	739,217		724,876
Weighted average common shares/units outstanding - Diluted	[2]	764,945		764,619	764,644		750,971
Net earnings per share/unit attributable to common stockholders/unitholders - Basic		$ 0.98		$ 0.40	$ 2.28		$ 1.65
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted		$ 0.97		$ 0.40	$ 2.27		$ 1.63
Prologis, L.P. [Member]
Revenues:
Rental		$ 1,037,281		$ 980,148	$ 3,073,700		$ 2,803,321
Strategic capital		141,448		98,993	390,796		516,242
Development management and other		4,320		3,632	17,711		7,575
Total revenues		1,183,049		1,082,773	3,482,207		3,327,138
Expenses:
Rental		256,607		245,490	779,624		705,217
Strategic capital		52,389		45,791	146,938		173,910
General and administrative		66,970		74,348	219,344		208,701
Depreciation and amortization		390,806		400,738	1,181,117		1,144,903
Other		4,413		3,020	15,051		25,573
Total expenses		771,185		769,387	2,342,074		2,258,304
Operating income before gains on real estate transactions, net		411,864		313,386	1,140,133		1,068,834
Gains on dispositions of development properties and land, net		139,406		134,207	500,410		383,373
Gains on other dispositions of investments in real estate, net		214,390		108,927	358,180		184,357
Operating income		765,660		556,520	1,998,723		1,636,564
Other income (expense):
Earnings from unconsolidated entities, net		91,818		73,972	231,286		216,844
Interest expense		(63,638)		(80,711)	(203,331)		(237,651)
Interest and other income (expense), net		(846)		(5,866)	4,615		(4,469)
Foreign currency and derivative gains (losses), net		64,172		(100,974)	138,244		(48,481)
Losses on early extinguishment of debt, net		0		(98,266)	(187,453)		(164,606)
Total other income (expense)		91,506		(211,845)	(16,639)		(238,363)
Earnings before income taxes		857,166		344,675	1,982,084		1,398,201
Total income tax expense		(59,435)		(12,154)	(134,347)		(89,578)
Consolidated net earnings		797,731		332,521	1,847,737		1,308,623
Less net earnings attributable to noncontrolling interests		54,406		21,453	109,768		74,709
Net earnings attributable to controlling interests		743,325		311,068	1,737,969		1,233,914
Less preferred stock/unit dividends/distributions		1,531		1,652	4,614		4,921
Loss on preferred stock/unit repurchase		0		2,347	0		2,347
Net earnings attributable to common stockholders/unitholders		$ 741,794		$ 307,069	$ 1,733,355		$ 1,226,646
Weighted average common shares/units outstanding - Basic		751,558		750,971	751,773		737,489
Weighted average common shares/units outstanding - Diluted		764,945		764,619	764,644		750,971
Net earnings per share/unit attributable to common stockholders/unitholders - Basic		$ 0.98		$ 0.40	$ 2.28		$ 1.65
Net earnings per share/unit attributable to common stockholders/unitholders - Diluted		$ 0.97		$ 0.40	$ 2.27		$ 1.63
[1]	During the three and nine months ended September 30, 2021, we sold our ownership interest in an unconsolidated other venture.
[2]	Our total weighted average potentially dilutive shares and units outstanding consisted of the following:

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Consolidated net earnings	$ 797,731	$ 332,521	$ 1,847,737	$ 1,308,623
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	48,708	(45,576)	201,881	(180,162)
Unrealized gains (losses) on derivative contracts, net	3,748	2,379	13,379	(19,696)
Comprehensive income	850,187	289,324	2,062,997	1,108,765
Net earnings attributable to noncontrolling interests	(74,193)	(29,827)	(156,676)	(108,703)
Other comprehensive loss (income) attributable to noncontrolling interests	(1,242)	861	(5,427)	5,791
Comprehensive income attributable to common stockholders/unitholders	774,752	260,358	1,900,894	1,005,853
Prologis, L.P. [Member]
Consolidated net earnings	797,731	332,521	1,847,737	1,308,623
Other comprehensive income (loss):
Foreign currency translation gains (losses), net	48,708	(45,576)	201,881	(180,162)
Unrealized gains (losses) on derivative contracts, net	3,748	2,379	13,379	(19,696)
Comprehensive income	850,187	289,324	2,062,997	1,108,765
Net earnings attributable to noncontrolling interests	(54,406)	(21,453)	(109,768)	(74,709)
Other comprehensive loss (income) attributable to noncontrolling interests	336	(217)	493	405
Comprehensive income attributable to common stockholders/unitholders	$ 796,117	$ 267,654	$ 1,953,722	$ 1,034,461

Consolidated Statements of Equi

Consolidated Statements of Equity - 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]	Noncontrolling Interests [Member]
Balance at Dec. 31, 2019	$ 26,071,784	$ 68,948	$ 6,318	$ 25,719,427	$ (990,398)	$ (2,151,168)	$ 3,418,657
Balance, shares at Dec. 31, 2019			631,797
Consolidated net earnings	1,308,623					1,199,920	108,703
Effect of equity compensation plans	85,008		$ 7	21,096			63,905
Effect of equity compensation plans, shares			655
Liberty Transaction, net of issuance costs	10,013,526		$ 1,067	9,801,373			211,086
Liberty Transaction, net of issuance costs, shares			106,723
Repurchase of common units	(34,829)		$ (5)	(34,824)
Repurchase of common units, shares			(539)
Repurchase of preferred stock	(7,200)	(5,000)		147		(2,347)
Capital contributions	916,974						916,974
Redemption of noncontrolling interests	(111,777)		$ 3	14,249			(126,029)
Redemption of noncontrolling interests, shares			329
Issuance of units related to acquisitions	48,533						48,533
Foreign currency translation gains (losses), net	(180,162)				(174,903)		(5,259)
Unrealized gains (losses) on derivative contracts, net	(19,696)				(19,164)		(532)
Reallocation of equity				(64,752)			64,752
Dividends and other distributions	(1,601,477)			(493)		(1,292,326)	(308,658)
Balance at Sep. 30, 2020	36,489,307	63,948	$ 7,390	35,456,223	(1,184,465)	(2,245,921)	4,392,132
Balance, shares at Sep. 30, 2020			738,965
Balance at Jun. 30, 2020	36,746,209	68,948	$ 7,387	35,424,401	(1,142,129)	(2,115,679)	4,503,281
Balance, shares at Jun. 30, 2020			738,732
Consolidated net earnings	332,521					302,694	29,827
Effect of equity compensation plans	35,180		$ 1	14,274			20,905
Effect of equity compensation plans, shares			9
Repurchase of preferred stock	(7,200)	(5,000)		147		(2,347)
Redemption of noncontrolling interests	(69,034)		$ 2	9,698			(78,734)
Redemption of noncontrolling interests, shares			224
Issuance of units related to acquisitions	48,533						48,533
Foreign currency translation gains (losses), net	(45,576)				(44,637)		(939)
Unrealized gains (losses) on derivative contracts, net	2,379				2,301		78
Reallocation of equity				7,707			(7,707)
Dividends and other distributions	(553,705)			(4)		(430,589)	(123,112)
Balance at Sep. 30, 2020	36,489,307	63,948	$ 7,390	35,456,223	(1,184,465)	(2,245,921)	4,392,132
Balance, shares at Sep. 30, 2020			738,965
Balance at Dec. 31, 2020	$ 36,324,580	63,948	$ 7,394	35,488,634	(1,193,739)	(2,394,690)	4,353,033
Balance, shares at Dec. 31, 2020	739,381		739,381
Consolidated net earnings	$ 1,847,737					1,691,061	156,676
Effect of equity compensation plans	86,018		$ (5)	24,443			61,580
Effect of equity compensation plans, shares			(403)
Capital contributions	7,378						7,378
Redemption of noncontrolling interests	(138,173)		$ 4	15,135			(153,312)
Redemption of noncontrolling interests, shares			345
Consolidation of other venture	25,759						25,759
Issuance of units related to acquisitions	130,416						130,416
Foreign currency translation gains (losses), net	201,881				196,820		5,061
Unrealized gains (losses) on derivative contracts, net	13,379				13,013		366
Reallocation of equity				(1,510)			1,510
Dividends and other distributions	(1,741,501)			(31)		(1,404,360)	(337,110)
Balance at Sep. 30, 2021	$ 36,757,474	63,948	$ 7,393	35,526,671	(983,906)	(2,107,989)	4,251,357
Balance, shares at Sep. 30, 2021	739,323		739,323
Balance at Jun. 30, 2021	$ 36,480,804	63,948	$ 7,390	35,432,843	(1,035,120)	(2,363,348)	4,375,091
Balance, shares at Jun. 30, 2021			739,020
Consolidated net earnings	797,731					723,538	74,193
Effect of equity compensation plans	28,158			11,141			17,017
Effect of equity compensation plans, shares			17
Capital contributions	3,017						3,017
Redemption of noncontrolling interests	(32,606)		$ 3	12,540			(45,149)
Redemption of noncontrolling interests, shares			286
Issuance of units related to acquisitions	130,416						130,416
Foreign currency translation gains (losses), net	48,708				47,576		1,132
Unrealized gains (losses) on derivative contracts, net	3,748				3,638		110
Reallocation of equity				70,153			(70,153)
Dividends and other distributions	(702,502)			(6)		(468,179)	(234,317)
Balance at Sep. 30, 2021	$ 36,757,474	$ 63,948	$ 7,393	$ 35,526,671	$ (983,906)	$ (2,107,989)	$ 4,251,357
Balance, shares at Sep. 30, 2021	739,323		739,323

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Stockholders Equity [Abstract]
Dividends per common share	$ 0.63	$ 0.58	$ 1.89	$ 1.74

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021		Sep. 30, 2020
Operating activities:
Consolidated net earnings	$ 1,847,737		$ 1,308,623
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(109,043)		(88,637)
Equity-based compensation awards	84,416		86,360
Depreciation and amortization	1,181,117		1,144,903
Earnings from unconsolidated entities, net	(231,286)		(216,844)
Operating distributions from unconsolidated entities	311,284		355,395
Decrease in operating receivables from unconsolidated entities	18,036		71,979
Amortization of debt discounts and debt issuance costs, net	6,632		5,568
Gains on dispositions of development properties and land, net	(500,410)		(383,373)
Gains on other dispositions of investments in real estate, net	(358,180)	[1]	(184,357)
Unrealized foreign currency and derivative losses (gains), net	(150,443)		58,645
Losses on early extinguishment of debt, net	187,453		164,606
Deferred income tax expense (benefit)	10,049		(6,564)
Increase in accounts receivable and other assets	(223,658)		(33,189)
Increase in accounts payable and accrued expenses and other liabilities	206,272		50,220
Net cash provided by operating activities	2,279,976		2,333,335
Investing activities:
Real estate development	(1,770,353)		(1,501,089)
Real estate acquisitions	(1,196,994)		(700,793)
Tenant improvements and lease commissions on previously leased space	(233,853)		(142,168)
Property improvements	(98,874)		(91,355)
Proceeds from dispositions and contributions of real estate	2,817,943		1,684,633
Investments in and advances to unconsolidated entities	(454,918)		(345,310)
Return of investment from unconsolidated entities	56,993		206,741
Proceeds from repayment of notes receivable backed by real estate	0		4,312
Proceeds from the settlement of net investment hedges	0		2,352
Payments on the settlement of net investment hedges	(16,513)		(7,236)
Net cash used in investing activities	(896,569)		(2,579,822)
Financing activities:
Proceeds from issuance of common stock/units	743		1,869
Repurchase and retirement of common stock/units	0		(34,829)
Repurchase of preferred stock/units	0		(7,200)
Dividends/distributions paid on common and preferred stock/units	(1,404,360)		(1,292,326)
Noncontrolling interests contributions	7,378		916,974
Noncontrolling interests distributions	(337,110)		(308,658)
Settlement of noncontrolling interests	(138,173)		(111,777)
Tax paid with shares withheld	(18,434)		(23,227)
Debt and equity issuance costs paid	(22,008)		(51,723)
Net payments on credit facilities	(70,200)		(142,498)
Repurchase of and payments on debt	(2,201,383)		(6,156,328)
Proceeds from the issuance of debt	2,824,754		7,303,761
Net cash provided by (used in) financing activities	(1,358,793)		94,038
Effect of foreign currency exchange rate changes on cash	(37,629)		3,787
Net decrease in cash and cash equivalents	(13,015)		(148,662)
Cash and cash equivalents, beginning of period	598,086		1,088,855
Cash and cash equivalents, end of period	585,071		940,193
Prologis, L.P. [Member]
Operating activities:
Consolidated net earnings	1,847,737		1,308,623
Adjustments to reconcile net earnings to net cash provided by operating activities:
Straight-lined rents and amortization of above and below market leases	(109,043)		(88,637)
Equity-based compensation awards	84,416		86,360
Depreciation and amortization	1,181,117		1,144,903
Earnings from unconsolidated entities, net	(231,286)		(216,844)
Operating distributions from unconsolidated entities	311,284		355,395
Decrease in operating receivables from unconsolidated entities	18,036		71,979
Amortization of debt discounts and debt issuance costs, net	6,632		5,568
Gains on dispositions of development properties and land, net	(500,410)		(383,373)
Gains on other dispositions of investments in real estate, net	(358,180)		(184,357)
Unrealized foreign currency and derivative losses (gains), net	(150,443)		58,645
Losses on early extinguishment of debt, net	187,453		164,606
Deferred income tax expense (benefit)	10,049		(6,564)
Increase in accounts receivable and other assets	(223,658)		(33,189)
Increase in accounts payable and accrued expenses and other liabilities	206,272		50,220
Net cash provided by operating activities	2,279,976		2,333,335
Investing activities:
Real estate development	(1,770,353)		(1,501,089)
Real estate acquisitions	(1,196,994)		(700,793)
Tenant improvements and lease commissions on previously leased space	(233,853)		(142,168)
Property improvements	(98,874)		(91,355)
Proceeds from dispositions and contributions of real estate	2,817,943		1,684,633
Investments in and advances to unconsolidated entities	(454,918)		(345,310)
Return of investment from unconsolidated entities	56,993		206,741
Proceeds from repayment of notes receivable backed by real estate	0		4,312
Proceeds from the settlement of net investment hedges	0		2,352
Payments on the settlement of net investment hedges	(16,513)		(7,236)
Net cash used in investing activities	(896,569)		(2,579,822)
Financing activities:
Proceeds from issuance of common stock/units	743		1,869
Repurchase and retirement of common stock/units	0		(34,829)
Repurchase of preferred stock/units	0		(7,200)
Dividends/distributions paid on common and preferred stock/units	(1,451,319)		(1,336,412)
Noncontrolling interests contributions	7,378		916,974
Noncontrolling interests distributions	(290,151)		(264,572)
Redemption of common limited partnership units	(138,173)		(111,777)
Tax paid for shares of the Parent withheld	(18,434)		(23,227)
Debt and equity issuance costs paid	(22,008)		(51,723)
Net payments on credit facilities	(70,200)		(142,498)
Repurchase of and payments on debt	(2,201,383)		(6,156,328)
Proceeds from the issuance of debt	2,824,754		7,303,761
Net cash provided by (used in) financing activities	(1,358,793)		94,038
Effect of foreign currency exchange rate changes on cash	(37,629)		3,787
Net decrease in cash and cash equivalents	(13,015)		(148,662)
Cash and cash equivalents, beginning of period	598,086		1,088,855
Cash and cash equivalents, end of period	585,071		940,193
Liberty Transaction [Member]
Investing activities:
Transaction, net of cash acquired	0		(24,550)
Liberty Transaction [Member] | Prologis, L.P. [Member]
Investing activities:
Transaction, net of cash acquired	0		(24,550)
IPT Transaction [Member]
Investing activities:
Transaction, net of cash acquired	0		(1,665,359)
IPT Transaction [Member] | Prologis, L.P. [Member]
Investing activities:
Transaction, net of cash acquired	$ 0		$ (1,665,359)
[1]	During the three and nine months ended September 30, 2021, we sold our ownership interest in an unconsolidated other venture.

Consolidated Statements of Capi

Consolidated Statements of Capital - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Consolidated net earnings	$ 797,731	$ 332,521	$ 1,847,737	$ 1,308,623
Effect of equity compensation plans	28,158	35,180	86,018	85,008
Capital contributions	3,017		7,378	916,974
Repurchase of preferred units		(7,200)		(7,200)
Consolidation of other venture			25,759
Issuance of units related to acquisitions	130,416	48,533	130,416	48,533
Unrealized gains (losses) on derivative contracts, net	3,748	2,379	13,379	(19,696)
Noncontrolling Interests [Member]
Consolidated net earnings	74,193	29,827	156,676	108,703
Effect of equity compensation plans	17,017	20,905	61,580	63,905
Capital contributions	3,017		7,378	916,974
Consolidation of other venture			25,759
Issuance of units related to acquisitions	130,416	48,533	130,416	48,533
Unrealized gains (losses) on derivative contracts, net	$ 110	78	$ 366	(532)
Class A Common [Member]
Beginning balance, Units			8,600
Ending balance, Units	8,600		8,600
Prologis, L.P. [Member]
Beginning balance	$ 36,480,804	36,746,209	$ 36,324,580	26,071,784
Consolidated net earnings	797,731	332,521	1,847,737	1,308,623
Effect of equity compensation plans	28,158	35,180	86,018	85,008
Liberty Transaction, net of issuance costs				10,013,526
Repurchases of common units				(34,829)
Capital contributions	3,017		7,378	916,974
Repurchase of preferred units		(7,200)		(7,200)
Redemption of limited partners units	(32,606)	(69,034)	(138,173)	(111,777)
Consolidation of other venture			25,759
Issuance of units related to acquisitions	130,416	48,533	130,416	48,533
Foreign currency translation gains (losses), net	48,708	(45,576)	201,881	(180,162)
Unrealized gains (losses) on derivative contracts, net	3,748	2,379	13,379	(19,696)
Distributions and other	(702,502)	(553,705)	(1,741,501)	(1,601,477)
Ending balance	36,757,474	36,489,307	36,757,474	36,489,307
Prologis, L.P. [Member] | Noncontrolling Interests [Member]
Beginning balance	3,497,798	3,589,800	3,483,526	2,775,394
Consolidated net earnings	54,406	21,453	109,768	74,709
Liberty Transaction, net of issuance costs				896
Capital contributions	3,017		7,378	916,974
Consolidation of other venture			25,759
Foreign currency translation gains (losses), net	(336)	217	(493)	(405)
Distributions and other	(219,098)	(108,474)	(290,151)	(264,572)
Ending balance	3,335,787	3,502,996	3,335,787	3,502,996
Prologis, L.P. [Member] | Limited Partners [Member]
Liberty Transaction, net of issuance costs			$ 130,400
Liberty Transaction, net of issuance costs, units			1,000
Prologis, L.P. [Member] | Preferred [Member] | General Partner
Beginning balance	$ 63,948	$ 68,948	$ 63,948	$ 68,948
Beginning balance, Units	1,279	1,379	1,279	1,379
Repurchase of preferred units		$ (5,000)		$ (5,000)
Redemption of preferred units, units		(100)		(100)
Ending balance	$ 63,948	$ 63,948	$ 63,948	$ 63,948
Ending balance, Units	1,279	1,279	1,279	1,279
Prologis, L.P. [Member] | Common [Member] | General Partner
Beginning balance	$ 32,041,765	$ 32,173,980	$ 31,907,599	$ 22,584,179
Beginning balance, Units	739,020	738,732	739,381	631,797
Consolidated net earnings	$ 723,538	$ 302,694	$ 1,691,061	$ 1,199,920
Effect of equity compensation plans	$ 11,141	$ 14,275	$ 24,438	$ 21,103
Effect of equity compensation plans, units	17	9	(403)	655
Liberty Transaction, net of issuance costs				$ 9,802,440
Liberty Transaction, net of issuance costs, units				106,723
Repurchases of common units				$ (34,829)
Repurchases of common units, units				(539)
Repurchase of preferred units		$ (2,200)		$ (2,200)
Redemption of limited partners units	$ 12,543	$ 9,700	$ 15,139	$ 14,252
Redemption of limited partners units, units	286	224	345	329
Foreign currency translation gains (losses), net	$ 47,576	$ (44,637)	$ 196,820	$ (174,903)
Unrealized gains (losses) on derivative contracts, net	3,638	2,301	13,013	(19,164)
Reallocation of capital	70,153	7,707	(1,510)	(64,752)
Distributions and other	(468,185)	(430,593)	(1,404,391)	(1,292,819)
Ending balance	$ 32,442,169	$ 32,033,227	$ 32,442,169	$ 32,033,227
Ending balance, Units	739,323	738,965	739,323	738,965
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Beginning balance	$ 530,326	$ 563,403	$ 523,954	$ 355,076
Beginning balance, Units	12,231	12,914	12,142	9,933
Consolidated net earnings	$ 11,971	$ 5,158	$ 28,645	$ 20,752
Effect of equity compensation plans	$ 17,017	$ 20,905	$ 61,580	$ 63,905
Effect of equity compensation plans, units	125	22	1,210	1,279
Liberty Transaction, net of issuance costs				$ 210,190
Liberty Transaction, net of issuance costs, units				2,288
Redemption of limited partners units	$ (45,149)	$ (78,215)	$ (153,312)	$ (125,307)
Redemption of limited partners units, units	(523)	(903)	(1,519)	(1,467)
Issuance of units related to acquisitions	$ 130,416	$ 48,533	$ 130,416	$ 48,533
Issuance of units related to acquisitions, units	1,031	461	1,031	461
Foreign currency translation gains (losses), net	$ 954	$ (676)	$ 3,424	$ (2,957)
Unrealized gains (losses) on derivative contracts, net	71	52	226	(324)
Reallocation of capital	(71,466)	(8,454)	(169)	(851)
Distributions and other	(9,660)	(9,080)	(30,284)	(27,391)
Ending balance	$ 564,480	$ 541,626	$ 564,480	$ 541,626
Ending balance, Units	12,864	12,494	12,864	12,494
Prologis, L.P. [Member] | Class A Common [Member] | Limited Partners [Member]
Beginning balance	$ 346,967	$ 350,078	$ 345,553	$ 288,187
Beginning balance, Units	8,595	8,608	8,595	8,613
Consolidated net earnings	$ 7,816	$ 3,216	$ 18,263	$ 13,242
Redemption of limited partners units		$ (519)		$ (722)
Redemption of limited partners units, units		(13)		(18)
Foreign currency translation gains (losses), net	514	$ (480)	2,130	$ (1,897)
Unrealized gains (losses) on derivative contracts, net	39	26	140	(208)
Reallocation of capital	1,313	747	1,679	65,603
Distributions and other	(5,559)	(5,558)	(16,675)	(16,695)
Ending balance	$ 351,090	$ 347,510	$ 351,090	$ 347,510
Ending balance, Units	8,595	8,595	8,595	8,595

Consolidated Statements of Ca_2

Consolidated Statements of Capital (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Partners Capital [Abstract]
Distributions per common unit	$ 0.63	$ 0.58	$ 1.89	$ 1.74

General

General	9 Months Ended
	Sep. 30, 2021
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” or “IRC”), and believes the current organization and method of operation will enable it to maintain its status as a REIT. The Parent is the general partner of Prologis, L.P. (or the “Operating Partnership” or “OP”). Through the OP, we are engaged in the ownership, acquisition, development and management of logistics facilities with a focus on key markets in 19 countries on four continents. We invest in real estate through wholly owned subsidiaries and other entities through which we co-invest with partners and investors. We maintain a significant level of ownership in these co-investment ventures, which may be consolidated or unconsolidated based on our level of control of the entity. Our current business strategy consists of two operating business segments: Real Estate 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 and other ventures. See Note 11 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 September 30, 2021, the Parent owned a 97.26% common general partnership interest in the OP and substantially all of the preferred units in the OP. The remaining 2.74% common limited partnership interests, which include Class A common limited partnership units (“Class A Units”) in the OP, are owned by unaffiliated investors and certain current and former directors and officers of the Parent. Each partner’s percentage interest in the OP is determined based on the number of OP units held, including the number of OP units into which Class A Units are convertible, compared to total OP units outstanding at each period end and is used as the basis for the allocation of net income or loss to each partner. At the end of each reporting period, a capital adjustment is made in the OP to reflect the appropriate ownership interest for each of the common unitholders. These adjustments are reflected in the line items Reallocation of Equity Reallocation of Capital As the sole general partner of the OP, the Parent has complete responsibility and discretion in the day-to-day management and control of the OP and we operate the Parent and the OP as one enterprise. The management of the Parent consists of the same members as the management of the OP. These members are officers of the Parent and employees of the OP or one of its subsidiaries. As general partner with control of the OP, the Parent is the primary beneficiary and therefore consolidates the OP. Because the Parent’s only significant asset is its investment in the OP, the assets and liabilities of the Parent and the OP are the same on their respective financial statements. Basis of Presentation. The accompanying Consolidated Financial Statements are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) and are presented in our reporting currency, the U.S. dollar. Intercompany transactions with consolidated entities have been eliminated. 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, 2020, as filed with the SEC, and other public information. Reclassifications. Lease right-of-use assets and lease liabilities have been reclassified in the Consolidated Financial Statements for 2020 to Other Assets and Other Liabilities , respectively, in order to conform to the 2021 financial statement presentation. Accounting Pronouncements. Reference Rate Reform. In March 2020, the Financial Accounting Standards Board issued an Accounting Standard Update (“ASU”) that provided practical expedients to address existing guidance on contract modifications and hedge accounting due to the expected market transition from the London Inter-bank Offered Rate (“LIBOR”) and other interbank offered rates (together “IBORs”) to alternative reference rates, such as the Secured Overnight Financing Rate. We refer to this transition as “reference rate reform.” The ASU was effective upon issuance on a prospective basis beginning January 1, 2020 and we elected to adopt the ASU over time as our reference rate reform activities occurred. In reliance on the relief, we have modified debt contracts during the three months ended September 30, 2021. There were no other changes to the contracts other than the base rate from GBP LIBOR and Yen LIBOR to their alternative reference rates and therefore there was no material impact on our Consolidated F inancial S tatement s due to the adoption of the ASU. We anticipate further modifications to other debt and derivative contracts by the end of 2021.

Liberty Transaction

Liberty Transaction	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
Liberty Transaction	NOTE 2. LIBERTY TRANSACTION On February 4, 2020, we acquired Liberty Property Trust and Liberty Property Limited Partnership (collectively “Liberty” or the “Liberty Transaction”). The Liberty Transaction was completed for $13.0 billion through the issuance of equity based on the value of the Prologis common stock and units issued of $10.0 billion, the assumption of debt of $2.8 billion and transaction costs. In connection with the transaction, each issued and outstanding share or unit held by a Liberty stockholder or unitholder was converted automatically into 0.675 shares of Prologis common stock or common units of Prologis, L.P., respectively, including shares and units under Liberty’s equity incentive plan that became fully vested at closing. Through the Liberty Transaction, we acquired a portfolio primarily comprised of logistics real estate assets, including 519 industrial operating properties, aggregating 99.6 million square feet, which are highly complementary to our U.S. portfolio in terms of product quality, location and growth potential in our key markets The aggregate equity consideration is calculated below (in millions, except price per share): Number of Prologis shares and units issued upon conversion of Liberty shares and units at February 4, 2020 109.01 Multiplied by price of Prologis' common stock on February 3, 2020 $ 91.87 Fair value of Prologis shares and units issued $ 10,015 We accounted for the Liberty Transaction as an asset acquisition and as a result, the transaction costs of $115.8 million were capitalized to the basis of the acquired properties. Transaction costs included investment banker advisory fees, legal fees and other costs Under acquisition accounting, the total purchase price was allocated to the Liberty real estate properties and related lease intangibles on a relative fair value basis. All other assets acquired and liabilities assumed, including debt, and real estate assets that we do not intend to operate long-term were recorded at fair value as follows (in millions): Net investments in real estate $ 12,636 Intangible assets, net of intangible liabilities 491 Cash and other assets 233 Debt (2,845 ) Accounts payable, accrued expenses and other liabilities (383 ) Noncontrolling interests (1 ) Total purchase price, including transaction costs $ 10,131

Real Estate

Real Estate	9 Months Ended
	Sep. 30, 2021
Real Estate [Abstract]
Real Estate	NOTE 3. REAL ESTATE Investments in real estate properties consisted of the following (dollars and square feet in thousands): Square Feet Number of Buildings Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, 2021 2020 2021 2020 2021 2020 Operating properties: Buildings and improvements 444,812 441,336 2,286 2,261 $ 32,064,117 $ 31,489,943 Improved land 12,145,397 12,017,676 Development portfolio, including land costs: Prestabilized 3,761 6,076 12 24 433,391 553,266 Properties under development 31,967 22,004 84 61 2,377,098 1,329,345 Land (1) 2,039,754 1,606,358 Other real estate investments (2) 3,398,937 3,387,740 Total investments in real estate properties 52,458,694 50,384,328 Less accumulated depreciation 7,404,304 6,539,156 Net investments in real estate properties $ 45,054,390 $ 43,845,172 (1) At September 30, 2021 and December 31, 2020, our land was comprised of 5,186 and 5,304 acres, respectively. ( 2 ) Included in other real estate investments were: (i) non-strategic real estate assets acquired in the Liberty Transaction that we do not intend to operate long-term; (ii) real estate assets that we intend to redevelop into industrial properties; (iii) land parcels we own and lease to third parties; and (iv) costs associated with potential acquisitions and future development projects, including purchase options on land. Acquisitions The following table summarizes our real estate acquisition activity, excluding the Liberty Transaction as discussed in Note 2 (dollars and square feet in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 (1) 2020 (2) Number of operating properties 15 2 26 140 Square feet 3,910 194 6,023 20,470 Acres of land 685 156 1,391 611 Acquisition cost of net investments in real estate (3) $ 757,711 $ 188,717 $ 1,796,383 $ 2,730,377 (1) During the nine months ended September 30, 2021, we acquired additional ownership interest in unconsolidated other ventures from our partners and began consolidating the real estate assets. (2) On January 8, 2020, our two U.S. co-investment ventures, Prologis Targeted U.S. Logistics Fund, L.P. (“USLF”) and Prologis U.S. Logistics Venture, LLC (“USLV”), acquired the wholly-owned real estate assets of Industrial Property Trust Inc. (“IPT”) for $2.0 billion each in a cash transaction, including transaction costs and the assumption and repayment of debt (the “IPT Transaction”). As we consolidate USLV, the number of operating properties, square feet and acquisition cost for the properties acquired by USLV are included in the consolidated acquisition activity (3) The acquisition cost of net investments in real estate includes other real estate investments of $50.5 million and $224.3 million during the three and nine months ended September 30, 2021, respectively. Acquisitions of other real estate investments were not material during 2020. This category of real estate is not included within the other metrics in this table. Dispositions The following table summarizes our dispositions of net investments in real estate which include contributions to unconsolidated co-investment ventures and dispositions to third parties (dollars and square feet in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 (1) 2020 2021 (1) 2020 Dispositions of development properties and land, net (2) Number of properties 12 12 31 32 Square feet 2,876 3,150 12,337 11,776 Net proceeds $ 368,131 $ 410,398 $ 1,814,331 $ 1,384,227 Gains on dispositions of development properties and land, net $ 139,406 $ 134,207 $ 500,410 $ 383,373 Other dispositions of investments in real estate, net Number of properties 31 15 74 38 Square feet 5,806 2,558 12,060 6,635 Net proceeds $ 738,396 $ 409,303 $ 1,334,168 $ 763,615 Gains on other dispositions of investments in real estate, net $ 214,390 $ 108,927 $ 358,180 $ 184,357 (1) During the three and nine months ended September 30, 2021, we sold our ownership interest in an unconsolidated other venture. (2) The gains we recognize in Gains on Dispositions of Development Properties and Land, Net are primarily driven by the contribution of newly developed properties to our unconsolidated co-investment ventures and occasionally sales to a third party. Leases We recognized lease right-of-use assets of $425.6 million and $492.8 million within Other Assets and lease liabilities of $419.2 million and $487.0 million within Other Liabilities , for land and office space leases in which we are the lessee, on the Consolidated Balance Sheets at September 30, 2021 and December 31, 2020, respectively.

Unconsolidated Entities

Unconsolidated Entities	9 Months Ended
	Sep. 30, 2021
Equity Method Investments And Joint Ventures [Abstract]
Unconsolidated Entities	NOTE 4. 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 related parties and accounted for using the equity method of accounting. See Note 7 for more detail regarding our consolidated investments that are not wholly owned. We also have investments in other ventures, generally with one partner, which we account for using the equity method. We refer to our investments in both unconsolidated co-investment ventures and other ventures, collectively, as unconsolidated entities. The following table summarizes our investments in and advances to unconsolidated entities (in thousands): September 30, December 31, 2021 2020 Unconsolidated co-investment ventures $ 6,896,069 $ 6,685,567 Other ventures (1) 756,254 916,447 Total $ 7,652,323 $ 7,602,014 (1) During the nine months ended September 30, 2021, we acquired additional ownership interest in unconsolidated other ventures from our partners and began consolidating the real estate assets. W e also sold our ownership interest in an unconsolidated other venture. Unconsolidated Co-Investment Ventures The following table summarizes the Strategic Capital Revenues Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Recurring fees $ 100,167 $ 80,403 $ 288,049 $ 231,263 Transactional fees 14,399 15,827 53,476 47,879 Promote revenue (1) 1,570 - 13,821 228,421 Total strategic capital revenues from unconsolidated co-investment ventures (2) $ 116,136 $ 96,230 $ 355,346 $ 507,563 (1) Includes promote revenue earned from our unconsolidated co-investment venture in the U.S. in June 2020. (2) These amounts exclude strategic capital revenues from other ventures. The following table summarizes the key property information, financial position and operating information of our unconsolidated co-investment ventures (not our proportionate share) and the amounts we recognized in the Consolidated Financial Statements related to these ventures (dollars and square feet in millions): U.S. Other Americas (1) Europe Asia Total As of: Sep 30, 2021 Dec 31, 2020 Sep 30, 2021 Dec 31, 2020 Sep 30, 2021 Dec 31, 2020 Sep 30, 2021 Dec 31, 2020 Sep 30, 2021 Dec 31, 2020 Key property information: Ventures 1 1 2 2 3 3 3 3 9 9 Operating properties 716 706 236 229 804 768 184 167 1,940 1,870 Square feet 119 117 53 51 195 185 74 67 441 420 Financial position: Total assets ($) 10,929 10,840 3,155 3,023 17,747 16,918 10,298 10,209 42,129 40,990 Third-party debt ($) 3,063 3,129 867 854 3,750 4,002 3,992 3,831 11,672 11,816 Total liabilities ($) 3,677 3,722 932 898 5,499 5,607 4,506 4,389 14,614 14,616 Our investment balance ($) (2) 1,883 1,886 832 811 3,363 3,152 818 837 6,896 6,686 Our weighted average ownership (3) 25.3 % 25.6 % 40.1 % 40.8 % 29.7 % 30.0 % 15.2 % 15.2 % 26.0 % 26.1 % U.S. Other Americas (1) Europe Asia Total Operating Information: Sep 30, 2021 Sep 30, 2020 Sep 30, 2021 Sep 30, 2020 Sep 30, 2021 Sep 30, 2020 Sep 30, 2021 Sep 30, 2020 Sep 30, 2021 Sep 30, 2020 For the three months ended: Total revenues ($) 260 237 81 70 348 303 164 148 853 758 Net earnings ($) 152 29 28 23 84 80 49 152 313 284 Our earnings from unconsolidated co-investment ventures, net ($) 40 9 9 8 27 27 8 23 84 67 For the nine months ended: Total revenues ($) 771 702 234 204 1,029 874 483 429 2,517 2,209 Net earnings ($) 255 103 86 69 253 230 120 210 714 612 Our earnings from unconsolidated co-investment ventures, net ($) 68 28 31 26 81 75 20 32 200 161 (1) Prologis Brazil Logistics Venture (“PBLV”) and our other Brazilian joint ventures are combined as one venture for the purpose of this table. ( 2 ) 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 September 30, 2021 and December 31, 2020, resulted principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018; (ii) recording additional costs associated with our investment in the venture; (iii) receivables, principally for fees and promotes ($126.9 million and $165.6 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to Nippon Prologis REIT, Inc. ( 3 ) Represents our weighted average ownership interest in all unconsolidated co-investment ventures based on each entity’s contribution of total assets before depreciation, net of other liabilities. Equity Commitments Related to Certain Unconsolidated Co-Investment Ventures At September 30, 2021, our outstanding equity commitments were $333.6 million, principally for Prologis China Logistics Venture. The equity commitments expire from 2021 to 2028 if they have not been previously called.

Assets Held for Sale or Contrib

Assets Held for Sale or Contribution	9 Months Ended
	Sep. 30, 2021
Real Estate Assets Held For Development And Sale [Abstract]
Assets Held for Sale or Contribution	NOTE 5. ASSETS HELD FOR SALE OR CONTRIBUTION We had investments in certain real estate properties that met the criteria to be classified as held for sale or contribution at September 30, 2021 and December 31, 2020. At the time of classification, these properties were expected to be sold to third parties or were recently stabilized and expected to be contributed to unconsolidated co-investment ventures within twelve months. The amounts included in Assets Held for Sale or Contribution Assets held for sale or contribution consisted of the following (dollars and square feet in thousands): September 30, December 31, 2021 2020 (1) Number of operating properties 17 66 Square feet 5,856 12,923 Total assets held for sale or contribution $ 571,671 $ 1,070,724 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 6,178 $ 16,214 (1) At December 31, 2020, Assets Held for Sale or Contribution included certain properties acquired through the Liberty Transaction and the IPT Transaction that were subsequently sold during 2021.

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	NOTE 6. DEBT All debt is incurred by the OP or its consolidated subsidiaries. The following table summarizes our debt (dollars in thousands): September 30, 2021 December 31, 2020 Weighted Average Amount Weighted Average Amount Interest Rate (1) Term (2) Outstanding (3) Interest Rate (1) Term (2) Outstanding (3) Credit facilities 0.8% 2.5 $ 100,000 0.8% 2.0 $ 171,794 Senior notes 1.6% 11.7 14,887,589 2.0% 11.2 14,275,870 Term loans and unsecured other 0.8% 5.7 1,405,981 0.9% 5.6 1,764,311 Secured mortgage 3.4% 3.2 742,098 3.1% 3.0 637,101 Total 1.6% 10.8 $ 17,135,668 1.9% 10.2 $ 16,849,076 (1) The weighted average 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 and include the impact of designated interest rate swaps, which effectively fix the interest rate on certain variable rate debt. (2) The weighted average term represents the remaining maturity in years on the debt outstanding at period end. (3) We borrow in the functional currencies of the countries where we invest. Included in the outstanding balances were borrowings denominated in the following currencies: September 30, 2021 December 31, 2020 Weighted Average Interest Rate Amount Outstanding % of Total Weighted Average Interest Rate Amount Outstanding % of Total British pound sterling 2.2 % $ 1,005,266 5.9 % 2.2 % $ 1,019,480 6.1 % Canadian dollar 2.7 % 283,751 1.7 % 2.7 % 285,708 1.7 % Euro 1.1 % 6,877,873 40.0 % 1.4 % 6,549,676 38.8 % Japanese yen 0.8 % 3,146,736 18.4 % 0.8 % 2,877,247 17.1 % U.S. dollar 2.6 % 5,822,042 34.0 % 2.8 % 6,116,965 36.3 % Total 1.6 % $ 17,135,668 100.0 % 1.9 % $ 16,849,076 100.0 % Credit Facilities We have a global senior credit facility (the “2019 Global Facility”) under which we may draw in British pounds sterling, Canadian dollars, euro, Japanese yen, Mexican pesos The 2019 Global Facility is scheduled to initially mature in January 2023 and the 2021 Global Facility in April 2024; however, we may extend the maturity date for both facilities by six months on two occasions, subject to the payment of extension fees. We have the ability to increase the 2019 Global Facility to $4.5 billion and the 2021 Global Facility to $2.0 billion, subject to currency fluctuations and obtaining additional lender commitments. We also have a Japanese yen revolver (the “Yen Credit Facility”) with total commitments of ¥55.0 billion ($491.1 million at September 30, 2021). We have the ability to increase the borrowing capacity of the Yen Credit Facility to ¥75.0 billion ($669.7 million at September 30, 2021), subject to obtaining additional lender commitments. The Yen Credit Facility is initially scheduled to mature in July 2024; however, we may extend the maturity date for one year, subject to the payment of extension fees. We refer to the 2019 Global Facility, the 2021 Global Facility and the Yen Credit Facility, collectively, as our “Credit Facilities.” Pricing for the Credit Facilities, including the spread over the applicable benchmark and the rates applicable to facility fees and letter of credit fees, varies based on the public debt ratings of the OP. Liquidity The following table summarizes information about our available liquidity at September Aggregate lender commitments Credit Facilities $ 4,990 Less: Borrowings outstanding 100 Outstanding letters of credit 14 Current availability $ 4,876 Cash and cash equivalents 585 Total liquidity $ 5,461 Senior Notes The following table summarizes the issuances and redemptions of senior notes during the nine months ended September 30, 2021 (principal in thousands): Aggregate Principal Issuance Date Weighted Average Issuance Date Borrowing Currency USD (1) Interest Rate (2) Term (3) Maturity Dates February € 1,350,000 $ 1,639,305 0.7% 14.3 February 2032 – 2041 February $ 400,000 $ 400,000 1.6% 10.1 March 2031 June ¥ 65,000,000 $ 587,441 0.8% 15.4 June 2028 – 2061 Total $ 2,626,746 0.9% 13.9 Aggregate Principal Redemption Date Weighted Average Redemption Date Borrowing Currency USD (1) Interest Rate (2) Term (3) Maturity Dates March € 599,514 $ 715,700 3.4% 3.0 February 2024 March $ 750,000 $ 750,000 3.8% 4.7 November 2025 Total $ 1,465,700 3.6% 3.8 (1) The exchange rate used to calculate into U.S. dollars was the spot rate at the settlement date. (2) The weighted average interest rate represents the fixed or variable interest rates of the related debt at the issuance or redemption date. (3) The weighted average term represents the remaining maturity in years on the related debt at the issuance or redemption date. During the nine months ended September 30, 2021, we used the net proceeds from the issuance of the senior notes to fund the senior note redemptions, repay other indebtedness and for general corporate purposes. Early Extinguishment of Debt During the nine months ended September 30, 2021 and 2020, we recognized $187.5 million and $164.6 million of losses on the early extinguishment of debt, respectively. The losses during both periods were driven by the redemption of certain higher interest rate senior notes before their stated maturity. We redeemed $1.5 billion of senior notes with stated maturities of 2024 and 2025, and $2.0 billion of senior notes with stated maturities between 2021 and 2024, during the nine months ended September Term Loans In April 2021, the multi-currency term loan (“2017 Term Loan”) was terminated, the outstanding balance paid down and the interest rate swap contracts associated with the outstanding balance of $250.3 million were settled. Long-Term Debt Maturities Scheduled principal payments due on our debt for the remainder of 2021 and for each year through the period ended December 31, 2025, and thereafter were as follows at September 30, 2021 (in thousands): Unsecured Credit Senior Term Loans Secured Maturity Facilities Notes and Other Mortgage Total 2021 (1) $ - $ - $ - $ 94,802 $ 94,802 2022 (1) - 521,055 9,780 203,095 733,930 2023 - - 133,850 36,784 170,634 2024 (2) 100,000 - - 174,433 274,433 2025 - 44,648 - 144,446 189,094 Thereafter - 14,396,288 1,268,001 78,095 15,742,384 Subtotal 100,000 14,961,991 1,411,631 731,655 17,205,277 Premiums (discounts), net - 3,495 - 12,319 15,814 Debt issuance costs, net - (77,897 ) (5,650 ) (1,876 ) (85,423 ) Total $ 100,000 $ 14,887,589 $ 1,405,981 $ 742,098 $ 17,135,668 (1) We expect to repay the amounts maturing in the next twelve months with cash generated from operations, proceeds from dispositions of real estate properties, or as necessary, with additional borrowings. (2) Included in the 2024 maturities is the 2021 Global Facility that can be extended until 2025. Financial Debt Covenants Our senior notes and term loans outstanding at September 30, 2021 were subject to certain financial covenants under their related indentures. We are also subject to financial covenants under our Credit Facilities and certain secured mortgage debt. At September 30, 2021, we were in compliance with all of our financial debt covenants. Guarantee of Finance Subsidiary Debt We have finance subsidiaries as part of our operations in Europe (Prologis Euro Finance LLC), Japan (Prologis Yen Finance LLC) and the U.K. (Prologis Sterling Finance LLC) in order to mitigate our foreign currency risk by borrowing in the currencies in which we invest. These entities are 100% indirectly owned by the OP and all unsecured debt issued or to be issued by each entity is or will be fully and unconditionally guaranteed by the OP. There are no restrictions or limits on the OP’s ability to obtain funds from its subsidiaries by dividend or loan. In reliance on Rule 13-01 of Regulation S-X, the separate financial statements of Prologis Euro Finance LLC, Prologis Yen Finance LLC and Prologis Sterling Finance LLC are not provided.

Noncontrolling Interests

Noncontrolling Interests	9 Months Ended
	Sep. 30, 2021
Noncontrolling Interest [Abstract]
Noncontrolling Interests	NOTE 7. NONCONTROLLING INTERESTS Prologis, L.P. We report noncontrolling interests related to several entities we consolidate but of which we do not own 100% of the equity. These entities include two real estate partnerships that have issued limited partnership units to third parties. Depending on the specific partnership agreements, these limited partnership units are redeemable for cash or, at our option, shares of the Parent’s common stock, generally at a rate of one share of common stock to one limited partnership unit. We also consolidate certain entities in which we do not own 100% of the equity but the equity of these entities is not exchangeable into our common stock. Prologis, Inc. The noncontrolling interests of the Parent include the noncontrolling interests described above for the OP, as well as the limited partnership units in the OP that are not owned by the Parent. The outstanding limited partnership units receive quarterly cash distributions equal to the quarterly dividends paid on our common stock pursuant to the terms of the applicable partnership agreements. The following table summarizes these entities (dollars in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities Sep 30, 2021 Dec 31, 2020 Sep 30, 2021 Dec 31, 2020 Sep 30, 2021 Dec 31, 2020 Sep 30, 2021 Dec 31, 2020 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 3,204,673 $ 3,385,110 $ 7,272,631 $ 7,663,800 $ 159,883 $ 145,131 Other consolidated entities (1) various various 131,114 98,416 1,395,579 1,066,129 168,807 73,987 Prologis, L.P. 3,335,787 3,483,526 8,668,210 8,729,929 328,690 219,118 Limited partners in Prologis, L.P. (2)(3) 915,570 869,507 - - - - Prologis, Inc. $ 4,251,357 $ 4,353,033 $ 8,668,210 $ 8,729,929 $ 328,690 $ 219,118 ( 1 ) 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 September 30, 2021 and December 31, 2020 were exchangeable into cash or, at our option, 0.3 million shares of the Parent’s common stock. ( 2 ) We had 8.6 million Class A Units that were convertible into 8.0 million limited partnership units of the OP at September 30, 2021 and December 31, 2020. ( 3 ) There were limited partnership units in the OP, excluding the Class A Units, that were exchangeable into cash or, at our option, 8.9 million and 8.2 million shares of the Parent’s common stock at September 30, 2021 and December 31, 2020, respectively. We issued 1.0 million limited partnership units to our partner as partial consideration for the acquisition of additional ownership int erest in an unconsolidated other venture in 2021. Also included are the vested OP Long-Term Incentive Plan Units (“LTIP

Long-Term Compensation

Long-Term Compensation	9 Months Ended
	Sep. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Long-Term Compensation	NOTE 8. LONG-TERM COMPENSATION Equity-Based Compensation Plans and Programs Prologis Outperformance Plan (“POP”) We have allocated participation points or a percentage of the compensation pool to participants under our POP corresponding to three-year -year compound annualized TSR for the Morgan Stanley Capital International (“MSCI”) US REIT Index for the same period plus 100 basis points. If the Outperformance Hurdle is met, a compensation pool will be formed equal to 3% of the excess value created, subject to a maximum as defined by each performance period. POP awards cannot be paid at a time when we meet the outperformance hurdle yet our absolute TSR is negative. If after seven years our absolute TSR has not been positive, the awards will be forfeited. We granted participation points for the 2021 – 2023 performance period in January 2021, with a fair value of $30.3 million using a Monte Carlo valuation model that assumed a risk-free interest rate of 0.2% and an expected volatility of 32.0% for Prologis and 29.0% for the MSCI US REIT Index. The 2021 – 2023 performance period has an absolute maximum cap of $100 million. If an award is earned at the end of the initial three-year performance period, then 20% of the POP award is paid at the end of the initial performance period and the remaining 80% is subject to additional seven-year three-year three-year The Outperformance Hurdle was met for the 2018 – 2020 performance period, which resulted in awards being earned at December 31, 2020. Additionally, awards were earned at December 31, 2020 for prior performance periods related to the compensation pool in excess of the initial award based on the terms of the POP awards granted prior to 2018. Awards of $100.0 million for the 2018 – 2020 performance period and $35.7 million in the aggregate for the 2016 – 2018 and 2017 – 2019 performance periods were awarded in January 2021 in the form of common stock, restricted stock units, POP LTIP Units and LTIP Units. The tables below include POP awards that were earned but are unvested while any vested awards are reflected within the Consolidated Statements of Equity and Capital. The initial grant date fair value derived using a Monte Carlo valuation model was used in determining the grant date fair value per unit in the tables below. 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 the grant date value is charged to compensation expense over the service period . Summary of Award Activity RSUs The following table summarizes the activity for RSUs for the nine months ended September 30, 2021 (units in thousands): Weighted Average Unvested RSUs Grant Date Fair Value Balance at January 1, 2021 986 $ 80.32 Granted (1) 691 78.51 Vested and distributed (392 ) 76.85 Forfeited (150 ) 75.88 Balance at September 30, 2021 1,135 $ 81.01 (1) Included in granted were unvested units based on the POP performance criteria being met for the 2018 – 2020 performance period and represented the earned award amounts subject to an additional vesting period. Unvested units are included in the award discussion above. These amounts also include awards earned for prior performance periods related to the compensation pool in excess of the initial award. LTIP Units The following table summarizes the activity for LTIP Units for the nine months ended September 30, 2021 (units in thousands): Unvested Weighted Average LTIP Units Grant Date Fair Value Balance at January 1, 2021 3,052 $ 66.50 Granted (1) 1,264 59.10 Forfeited (51 ) 55.66 Vested LTIP Units (944 ) 79.80 Balance at September 30, 2021 3,321 $ 60.07 (1) Included in granted were unvested units based on the POP performance criteria being met for the 2018 – 2020 performance period and represented the earned award amounts subject to an additional vesting period. Unvested units are included in the award discussion above. These amounts also include awards earned for prior performance periods related to the compensation pool in excess of the initial award.

Earnings Per Common Share or Un

Earnings Per Common Share or Unit	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Common Share or Unit	NOTE 9. 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 was as follows (in thousands, except per share and unit amounts): Three Months Ended Nine Months Ended September 30, September 30, Prologis, Inc. 2021 2020 2021 2020 Net earnings attributable to common stockholders – Basic $ 722,007 $ 298,695 $ 1,686,447 $ 1,192,652 Net earnings attributable to exchangeable limited partnership units (1) 19,890 8,440 47,131 34,252 Adjusted net earnings attributable to common stockholders – Diluted $ 741,897 $ 307,135 $ 1,733,578 $ 1,226,904 Weighted average common shares outstanding – Basic 739,439 738,194 739,217 724,876 Incremental weighted average effect on exchange of limited partnership units (1) 20,421 21,110 20,860 20,960 Incremental weighted average effect of equity awards 5,085 5,315 4,567 5,135 Weighted average common shares outstanding – Diluted (2) 764,945 764,619 764,644 750,971 Net earnings per share attributable to common stockholders: Basic $ 0.98 $ 0.40 $ 2.28 $ 1.65 Diluted $ 0.97 $ 0.40 $ 2.27 $ 1.63 Three Months Ended Nine Months Ended September 30, September 30, Prologis, L.P. 2021 2020 2021 2020 Net earnings attributable to common unitholders $ 741,794 $ 307,069 $ 1,733,355 $ 1,226,646 Net earnings attributable to Class A Units (7,816 ) (3,216 ) (18,263 ) (13,242 ) Net earnings attributable to common unitholders – Basic 733,978 303,853 1,715,092 1,213,404 Net earnings attributable to Class A Units 7,816 3,216 18,263 13,242 Net earnings attributable to exchangeable other limited partnership units 103 66 223 258 Adjusted net earnings attributable to common unitholders – Diluted $ 741,897 $ 307,135 $ 1,733,578 $ 1,226,904 Weighted average common partnership units outstanding – Basic 751,558 750,971 751,773 737,489 Incremental weighted average effect on exchange of Class A Units 8,003 8,034 8,005 8,048 Incremental weighted average effect on exchange of other limited partnership units 299 299 299 299 Incremental weighted average effect of equity awards of Prologis, Inc. 5,085 5,315 4,567 5,135 Weighted average common units outstanding – Diluted (2) 764,945 764,619 764,644 750,971 Net earnings per unit attributable to common unitholders: Basic $ 0.98 $ 0.40 $ 2.28 $ 1.65 Diluted $ 0.97 $ 0.40 $ 2.27 $ 1.63 (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 Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Class A Units 8,003 8,034 8,005 8,048 Other limited partnership units 299 299 299 299 Equity awards 6,965 7,643 6,863 7,749 Prologis, L.P. 15,267 15,976 15,167 16,096 Common limited partnership units 12,119 12,777 12,556 12,613 Prologis, Inc. 27,386 28,753 27,723 28,709

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Financial Instruments and Fair Value Measurements	NOTE 10. FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS Derivative Financial Instruments In the normal course of business, our operations are exposed to market risks, including the effect of changes in foreign currency exchange rates and interest rates. We may enter into derivative financial instruments to offset these underlying market risks. There have been no significant changes in our policy or strategy from what was disclosed in our Annual Report on Form 10-K for the year ended December 31, 2020. The following table presents the fair value of our derivative financial instruments recognized within Other Assets Other Liabilities September 30, 2021 December 31, 2020 Asset Liability Asset Liability Undesignated derivatives Foreign currency contracts Forwards Brazilian real $ 495 $ 21 $ 620 $ 66 British pound sterling 6,045 1,690 174 7,589 Canadian dollar 2,970 2,326 80 5,827 Chinese renminbi - 410 - 717 Euro 31,144 - 73 6,247 Japanese yen 17,485 - 720 1,604 Swedish krona 1,578 397 - 2,355 Designated derivatives Foreign currency contracts Net investment hedges British pound sterling 10,463 - - 2,081 Canadian dollar 5,949 748 - 9,847 Interest rate swaps Cash flow hedges Euro - 6 - 9 U.S. dollar - - - 140 Total fair value of derivatives $ 76,129 $ 5,598 $ 1,667 $ 36,482 Undesignated Derivative Financial Instruments Foreign Currency Contracts The following table summarizes the activity of our undesignated foreign currency contracts for the nine months ended September 30 (in millions, except for weighted average forward rates and number of active contracts): 2021 2020 CAD EUR GBP JPY SEK Other Total CAD EUR GBP JPY SEK Other Total Notional amounts at January 1 ($) 163 474 207 252 38 28 1,162 120 581 178 182 31 15 1,107 New contracts ($) 219 362 166 77 20 27 871 29 845 294 82 10 32 1,292 Matured, expired or settled contracts ($) (199 ) (120 ) (115 ) (58 ) (14 ) (31 ) (537 ) (32 ) (1,099 ) (311 ) (66 ) (9 ) (31 ) (1,548 ) Notional amounts at September 30 ($) 183 716 258 271 44 24 1,496 117 327 161 198 32 16 851 Weighted average forward rate at September 30 1.26 1.23 1.37 103.19 8.47 1.34 1.17 1.31 102.80 9.35 Active contracts at September 30 73 87 69 78 71 48 55 47 48 31 The following table summarizes the undesignated derivative financial instruments exercised and associated realized and unrealized gains (losses) in Foreign Currency and Derivative Gains (Losses), Net Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Exercised contracts 61 28 135 101 Realized gains (losses) on the matured, expired or settled contracts $ (2 ) $ 1 $ (11 ) $ 11 Unrealized gains (losses) on the change in fair value of outstanding contracts $ 35 $ (27 ) $ 75 $ 7 Designated Derivative Financial Instruments Changes in the fair value of derivatives that are designated as net investment hedges of our foreign operations and cash flow hedges are recorded in Accumulated Other Comprehensive Income (Loss) (“AOCI/L”) Foreign Currency Contracts The following table summarizes the activity of our foreign currency contracts designated as net investment hedges for the nine months ended September 30 2021 2020 CAD GBP Total CAD GBP Total Notional amounts at January 1 ($) 377 135 512 97 387 484 New contracts ($) 535 300 835 298 324 622 Matured, expired or settled contracts ($) (299 ) - (299 ) (48 ) (576 ) (624 ) Notional amounts at September 30 ($) 613 435 1,048 347 135 482 Weighted average forward rate at September 30 1.26 1.38 1.32 1.35 Active contracts at September 30 7 4 6 1 Interest Rate Swaps The following table summarizes the activity of our interest rate swaps designated as cash flow hedges for the nine months ended September 30 (in millions): 2021 2020 EUR (1) USD (1) Total EUR USD Total Notional amounts at January 1 ($) 165 250 415 - - - New contracts ($) - - - 165 1,500 1,665 Matured, expired or settled contracts ($) - (250 ) (250 ) - (1,250 ) (1,250 ) Notional amounts at September 30 ($) 165 - 165 165 250 415 (1) During the year ended December 31, 2020, we entered into interest rate swap contracts to effectively fix the interest rate on our euro senior notes issued in February 2020 and the U.S. dollar outstanding balance on our 2017 Term Loan. In April 2021, the 2017 Term Loan was terminated and the interest rate swap contracts associated with the outstanding balance were settled. Designated Nonderivative Financial Instruments The following table summarizes our debt and accrued interest, designated as a hedge of our net investment in international subsidiaries as of the quarter ended (in millions): September 30, 2021 December 31, 2020 British pound sterling $ 396 $ 842 The following table summarizes the unrealized gains (losses) in Foreign Currency and Derivative Gains (Losses), Net September Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Unrealized gains (losses) on the unhedged portion $ 30 $ (77 ) $ 73 $ (51 ) 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 September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Derivative net investment hedges $ 25,549 $ (4,234 ) $ 11,090 $ 18,290 Debt designated as nonderivative net investment hedges 15,118 (46,570 ) (3,715 ) 2,439 Cumulative translation adjustment 8,041 5,228 194,506 (200,891 ) Total foreign currency translation gains (losses), net $ 48,708 $ (45,576 ) $ 201,881 $ (180,162 ) Cash flow hedges (1) (2) $ 872 $ 1,581 $ 8,246 $ (12,857 ) Our share of derivatives from unconsolidated co-investment ventures 2,876 798 5,133 (6,839 ) Total unrealized gains (losses) on derivative contracts, net $ 3,748 $ 2,379 $ 13,379 $ (19,696 ) Total change in other comprehensive income (loss) $ 52,456 $ (43,197 ) $ 215,260 $ (199,858 ) (1) We estimate an additional expense of $2.7 Interest Expense ( 2 ) Included in the nine months ended September 30, 2020 was $16.8 million in losses associated with the termination of four U.S. dollar treasury lock contracts with an aggregate notional amount of $750.0 million that fixed the interest rate on the forecasted issuance of U.S. dollar senior notes issued in February 2020. 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, 2020. Fair Value Measurements on a Recurring Basis At September 30, 2021 and December 31, 2020, other than the derivatives discussed previously, we had no significant financial assets or financial liabilities that were measured at fair value on a recurring basis in the Consolidated Financial Statements. All of our derivatives held at September 30, 2021 and December 31, 2020, were classified as Level 2 of the fair value hierarchy. Fair Value Measurements on Nonrecurring Basis Acquired properties and assets we expect to sell or contribute are significant nonfinancial assets that met the criteria to be measured at fair value on a nonrecurring basis. At September 30, 2021 and December 31, 2020, we estimated the fair value of our properties using Level 2 or Level 3 inputs from the fair value hierarchy. See more information on our acquired properties in Notes 2 and 3 and assets held for sale or contribution in Note 5. Fair Value of Financial Instruments At September 30, 2021 and December 31, 2020, 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 September 3 0 , 20 2 1 and December 31, 20 20 , as compared with those in effect when the debt was issued or assumed, including reduced borrowing spreads due to our improved credit ratings. The fair value of the senior notes decreased during the nine months ended September 30, 2021 due to the increase in bond yields in the market as compared to the weighted average interest rates on our senior notes. The senior notes and many of the issuances of secured mortgage debt contain prepayment penalties or yield maintenance provisions that could make the cost of refinancing the debt at lower rates exceed the benefit that would be derived from doing so. We evaluate this on an on-going basis and have taken the opportunity to refinance some of our debt at lower rates and longer maturities as discussed in Note 6. The following table reflects the carrying amounts and estimated fair values of our debt (in thousands): September 30, 2021 December 31, 2020 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 100,000 $ 100,000 $ 171,794 $ 171,794 Senior notes 14,887,589 15,239,275 14,275,870 15,452,381 Term loans and unsecured other 1,405,981 1,417,333 1,764,311 1,785,706 Secured mortgage 742,098 766,439 637,101 673,549 Total $ 17,135,668 $ 17,523,047 $ 16,849,076 $ 18,083,430

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Business Segments	NOTE 11. BUSINESS SEGMENTS Our current business strategy includes two operating segments: Real Estate Operations and Strategic Capital. We generate revenues, earnings, net operating income and cash flows through our segments, as follows: • Real Estate Operations. This operating segment represents the ownership and development of operating properties and is the largest component of our revenue and earnings. We collect rent from our customers through operating leases, including reimbursements for the majority of our property operating costs. Each operating property is considered to be an individual operating segment with similar economic characteristics; these properties are combined within the reportable business segment based on geographic location. Our Real Estate Operations segment also includes development activities that lead to rental operations, including land held for development and properties currently under development, and other real estate investments. Within this line of business, we utilize the following: (i) our land bank; (ii) the development expertise of our local teams; and (iii) our customer relationships. Land we own and lease to customers under land leases, along with land and buildings we lease, 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 management and property management services and we earn additional revenues by providing leasing, acquisition, construction, development, financing and disposition services. Depending on the structure of the venture and the returns provided to our partners, we also earn revenues through promotes periodically during the life of a venture or upon liquidation. Each unconsolidated co-investment venture we manage is considered to be an individual operating segment with similar economic characteristics; these ventures are combined within the reportable business segment based on geographic location. Reconciliations are presented below for: (i) each reportable business segment’s revenues from external customers to Total Revenues Operating Income Earnings Before Income Taxes Total Assets Total Revenues Operating Income Earnings Before Income Taxes Total Assets The following reconciliations are presented in thousands: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenues: Real estate operations segment: U.S. $ 992,583 $ 933,916 $ 2,939,364 $ 2,660,178 Other Americas 24,791 21,132 74,179 66,947 Europe 11,912 19,558 44,140 53,048 Asia 12,315 9,174 33,728 30,723 Total real estate operations segment 1,041,601 983,780 3,091,411 2,810,896 Strategic capital segment: U.S. 60,319 29,322 130,172 320,181 Other Americas 10,679 8,851 40,817 27,558 Europe 45,325 36,959 136,589 101,081 Asia 25,125 23,861 83,218 67,422 Total strategic capital segment 141,448 98,993 390,796 516,242 Total revenues 1,183,049 1,082,773 3,482,207 3,327,138 Segment net operating income: Real estate operations segment: U.S. (1) 746,710 699,255 2,190,308 1,976,985 Other Americas 18,341 15,288 55,165 48,561 Europe 6,089 14,207 26,754 33,017 Asia 9,441 6,520 24,509 21,543 Total real estate operations segment 780,581 735,270 2,296,736 2,080,106 Strategic capital segment: U.S. (1) 31,397 5,184 55,051 222,390 Other Americas 7,518 6,276 32,072 17,803 Europe 34,088 26,775 102,537 66,483 Asia 16,056 14,967 54,198 35,656 Total strategic capital segment 89,059 53,202 243,858 342,332 Total segment net operating income 869,640 788,472 2,540,594 2,422,438 Reconciling items: General and administrative expenses (66,970 ) (74,348 ) (219,344 ) (208,701 ) Depreciation and amortization expenses (390,806 ) (400,738 ) (1,181,117 ) (1,144,903 ) Gains on dispositions of development properties and land, net 139,406 134,207 500,410 383,373 Gains on other dispositions of investments in real estate, net 214,390 108,927 358,180 184,357 Operating income 765,660 556,520 1,998,723 1,636,564 Earnings from unconsolidated entities, net 91,818 73,972 231,286 216,844 Interest expense (63,638 ) (80,711 ) (203,331 ) (237,651 ) Interest and other income (expense), net (846 ) (5,866 ) 4,615 (4,469 ) Foreign currency and derivative gains (losses), net 64,172 (100,974 ) 138,244 (48,481 ) Losses on early extinguishment of debt, net - (98,266 ) (187,453 ) (164,606 ) Earnings before income taxes $ 857,166 $ 344,675 $ 1,982,084 $ 1,398,201 September 30, 2021 December 31, 2020 Segment assets: Real estate operations segment: U.S. $ 43,812,656 $ 42,559,023 Other Americas 1,218,015 1,145,699 Europe 1,495,595 1,604,393 Asia 1,138,653 1,081,876 Total real estate operations segment 47,664,919 46,390,991 Strategic capital segment: (2) U.S. 12,302 13,257 Europe 25,280 25,280 Asia 312 354 Total strategic capital segment 37,894 38,891 Total segment assets 47,702,813 46,429,882 Reconciling items: Investments in and advances to unconsolidated entities 7,652,323 7,602,014 Assets held for sale or contribution 571,671 1,070,724 Cash and cash equivalents 585,071 598,086 Other assets 504,792 364,299 Total reconciling items 9,313,857 9,635,123 Total assets $ 57,016,670 $ 56,065,005 (1) This includes compensation and personnel costs for employees who were located in the U.S. but also support other geographies. (2) Represents management contracts and goodwill recorded in connection with business combinations associated with the Strategic Capital segment. Goodwill was $25.3 million at September 30, 2021 and December 31, 2020.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	NOTE 12. SUPPLEMENTAL CASH FLOW INFORMATION Our significant noncash investing and financing activities for the nine months ended September 30, 2021 and 2020 included the following: • W e recognized lease right-of-use assets and lease liabilities related to leases in which we are the lessee within Other Assets and Other Liabilities on the Consolidated Balance Sheets, including any new leases, renewals and modifications of $32.7 million in 2021 and $6.6 million in 2020 for both assets and liabilities. • We capitalized $19.4 million and $18.0 million in 2021 and 2020, respectively, of equity-based compensation expense. • We assumed debt of $93.7 million upon obtaining a controlling financial interest in and consolidating an unconsolidated venture in 2021. • We received $299.4 million and $399.2 million in 2021 and 2020, 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 4. • We issued 0.3 million shares in both 2021 and 2020 of the Parent’s common stock upon redemption of an equal number of common limited partnership units in the OP. • We issued 1.0 million common limited partnership units for $130.4 million to our partner and assumed debt of $121.6 million in our acquisition of additional ownership int erest in an unconsolidated other venture in 2021 • We formed an unconsolidated venture by contributing $10.0 million of land in 2021. • An unconsolidated co-investment venture in the U.S. declared a distribution of $45.6 million, which we subsequently reinvested and increased our ownership in 2020. • We received $23.7 million of equity interests in PCCLF for the contribution of real estate properties from Prologis China Logistics Venture II, LP in 2020. • We issued 0.5 million common limited partnership units for $48.5 million as partial consideration for the acquisition of properties in 2020. • We completed the Liberty Transaction on February 4, 2020 for $13.0 billion through the issuance of equity and the assumption of debt. See Note 2 for more information on this transaction We paid $224.7 million and $230.9 million for interest, net of amounts capitalized, during the nine months ended September 30, 2021 and 2020, respectively. We paid $85.0 million and $82.3 million for income taxes, net of refunds, during the nine months ended September 30, 2021 and 2020, respectively.

General (Policies)

General (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Business	Business . Prologis, Inc. (or the “Parent”) commenced operations as a fully integrated real estate company in 1997, elected to be taxed as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code” or “IRC”), and believes the current organization and method of operation will enable it to maintain its status as a REIT. The Parent is the general partner of Prologis, L.P. (or the “Operating Partnership” or “OP”). Through the OP, we are engaged in the ownership, acquisition, development and management of logistics facilities with a focus on key markets in 19 countries on four continents. We invest in real estate through wholly owned subsidiaries and other entities through which we co-invest with partners and investors. We maintain a significant level of ownership in these co-investment ventures, which may be consolidated or unconsolidated based on our level of control of the entity. Our current business strategy consists of two operating business segments: Real Estate 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 and other ventures. See Note 11 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 September 30, 2021, the Parent owned a 97.26% common general partnership interest in the OP and substantially all of the preferred units in the OP. The remaining 2.74% common limited partnership interests, which include Class A common limited partnership units (“Class A Units”) in the OP, are owned by unaffiliated investors and certain current and former directors and officers of the Parent. Each partner’s percentage interest in the OP is determined based on the number of OP units held, including the number of OP units into which Class A Units are convertible, compared to total OP units outstanding at each period end and is used as the basis for the allocation of net income or loss to each partner. At the end of each reporting period, a capital adjustment is made in the OP to reflect the appropriate ownership interest for each of the common unitholders. These adjustments are reflected in the line items Reallocation of Equity Reallocation of Capital As the sole general partner of the OP, the Parent has complete responsibility and discretion in the day-to-day management and control of the OP and we operate the Parent and the OP as one enterprise. The management of the Parent consists of the same members as the management of the OP. These members are officers of the Parent and employees of the OP or one of its subsidiaries. As general partner with control of the OP, the Parent is the primary beneficiary and therefore consolidates the OP. Because the Parent’s only significant asset is its investment in the OP, the assets and liabilities of the Parent and the OP are the same on their respective financial statements.
Basis of Presentation	Basis of Presentation. The accompanying Consolidated Financial Statements are prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) and are presented in our reporting currency, the U.S. dollar. Intercompany transactions with consolidated entities have been eliminated. 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, 2020, as filed with the SEC, and other public information.
Reclassification	Reclassifications. Lease right-of-use assets and lease liabilities have been reclassified in the Consolidated Financial Statements for 2020 to Other Assets and Other Liabilities , respectively, in order to conform to the 2021 financial statement presentation.
Accounting Pronouncements	Accounting Pronouncements. Reference Rate Reform. In March 2020, the Financial Accounting Standards Board issued an Accounting Standard Update (“ASU”) that provided practical expedients to address existing guidance on contract modifications and hedge accounting due to the expected market transition from the London Inter-bank Offered Rate (“LIBOR”) and other interbank offered rates (together “IBORs”) to alternative reference rates, such as the Secured Overnight Financing Rate. We refer to this transition as “reference rate reform.” The ASU was effective upon issuance on a prospective basis beginning January 1, 2020 and we elected to adopt the ASU over time as our reference rate reform activities occurred. In reliance on the relief, we have modified debt contracts during the three months ended September 30, 2021. There were no other changes to the contracts other than the base rate from GBP LIBOR and Yen LIBOR to their alternative reference rates and therefore there was no material impact on our Consolidated F inancial S tatement s due to the adoption of the ASU. We anticipate further modifications to other debt and derivative contracts by the end of 2021.

Liberty Transaction (Tables)

Liberty Transaction (Tables) - Liberty Transaction [Member]	9 Months Ended
	Sep. 30, 2021
Schedule of Aggregate Equity Consideration	The aggregate equity consideration is calculated below (in millions, except price per share): Number of Prologis shares and units issued upon conversion of Liberty shares and units at February 4, 2020 109.01 Multiplied by price of Prologis' common stock on February 3, 2020 $ 91.87 Fair value of Prologis shares and units issued $ 10,015
Schedule of Purchase Price Allocated to Liberty Real Estate Properties and Related Lease Intangibles	Under acquisition accounting, the total purchase price was allocated to the Liberty real estate properties and related lease intangibles on a relative fair value basis. All other assets acquired and liabilities assumed, including debt, and real estate assets that we do not intend to operate long-term were recorded at fair value as follows (in millions): Net investments in real estate $ 12,636 Intangible assets, net of intangible liabilities 491 Cash and other assets 233 Debt (2,845 ) Accounts payable, accrued expenses and other liabilities (383 ) Noncontrolling interests (1 ) Total purchase price, including transaction costs $ 10,131

Real Estate (Tables)

Real Estate (Tables)	9 Months Ended
	Sep. 30, 2021
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 Sep 30, Dec 31, Sep 30, Dec 31, Sep 30, Dec 31, 2021 2020 2021 2020 2021 2020 Operating properties: Buildings and improvements 444,812 441,336 2,286 2,261 $ 32,064,117 $ 31,489,943 Improved land 12,145,397 12,017,676 Development portfolio, including land costs: Prestabilized 3,761 6,076 12 24 433,391 553,266 Properties under development 31,967 22,004 84 61 2,377,098 1,329,345 Land (1) 2,039,754 1,606,358 Other real estate investments (2) 3,398,937 3,387,740 Total investments in real estate properties 52,458,694 50,384,328 Less accumulated depreciation 7,404,304 6,539,156 Net investments in real estate properties $ 45,054,390 $ 43,845,172 (1) At September 30, 2021 and December 31, 2020, our land was comprised of 5,186 and 5,304 acres, respectively. ( 2 ) Included in other real estate investments were: (i) non-strategic real estate assets acquired in the Liberty Transaction that we do not intend to operate long-term; (ii) real estate assets that we intend to redevelop into industrial properties; (iii) land parcels we own and lease to third parties; and (iv) costs associated with potential acquisitions and future development projects, including purchase options on land.
Schedule of Acquisitions of Properties	The following table summarizes our real estate acquisition activity, excluding the Liberty Transaction as discussed in Note 2 (dollars and square feet in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 (1) 2020 (2) Number of operating properties 15 2 26 140 Square feet 3,910 194 6,023 20,470 Acres of land 685 156 1,391 611 Acquisition cost of net investments in real estate (3) $ 757,711 $ 188,717 $ 1,796,383 $ 2,730,377 (1) During the nine months ended September 30, 2021, we acquired additional ownership interest in unconsolidated other ventures from our partners and began consolidating the real estate assets. (2) On January 8, 2020, our two U.S. co-investment ventures, Prologis Targeted U.S. Logistics Fund, L.P. (“USLF”) and Prologis U.S. Logistics Venture, LLC (“USLV”), acquired the wholly-owned real estate assets of Industrial Property Trust Inc. (“IPT”) for $2.0 billion each in a cash transaction, including transaction costs and the assumption and repayment of debt (the “IPT Transaction”). As we consolidate USLV, the number of operating properties, square feet and acquisition cost for the properties acquired by USLV are included in the consolidated acquisition activity (3) The acquisition cost of net investments in real estate includes other real estate investments of $50.5 million and $224.3 million during the three and nine months ended September 30, 2021, respectively. Acquisitions of other real estate investments were not material during 2020. This category of real estate is not included within the other metrics in this table.
Number Of Properties Disposed Including Minor Adjustments	The following table summarizes our dispositions of net investments in real estate which include contributions to unconsolidated co-investment ventures and dispositions to third parties (dollars and square feet in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2021 (1) 2020 2021 (1) 2020 Dispositions of development properties and land, net (2) Number of properties 12 12 31 32 Square feet 2,876 3,150 12,337 11,776 Net proceeds $ 368,131 $ 410,398 $ 1,814,331 $ 1,384,227 Gains on dispositions of development properties and land, net $ 139,406 $ 134,207 $ 500,410 $ 383,373 Other dispositions of investments in real estate, net Number of properties 31 15 74 38 Square feet 5,806 2,558 12,060 6,635 Net proceeds $ 738,396 $ 409,303 $ 1,334,168 $ 763,615 Gains on other dispositions of investments in real estate, net $ 214,390 $ 108,927 $ 358,180 $ 184,357 (1) During the three and nine months ended September 30, 2021, we sold our ownership interest in an unconsolidated other venture. (2) The gains we recognize in Gains on Dispositions of Development Properties and Land, Net are primarily driven by the contribution of newly developed properties to our unconsolidated co-investment ventures and occasionally sales to a third party.

Unconsolidated Entities (Tables

Unconsolidated Entities (Tables)	9 Months Ended
	Sep. 30, 2021
Schedule Of Equity Method Investments [Line Items]
Summary of Investments in and Advances to our Unconsolidated Entities	The following table summarizes our investments in and advances to unconsolidated entities (in thousands): September 30, December 31, 2021 2020 Unconsolidated co-investment ventures $ 6,896,069 $ 6,685,567 Other ventures (1) 756,254 916,447 Total $ 7,652,323 $ 7,602,014 (1) During the nine months ended September 30, 2021, we acquired additional ownership interest in unconsolidated other ventures from our partners and began consolidating the real estate assets. W e also sold our ownership interest in an unconsolidated other venture.
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 these ventures (dollars and square feet in millions): U.S. Other Americas (1) Europe Asia Total As of: Sep 30, 2021 Dec 31, 2020 Sep 30, 2021 Dec 31, 2020 Sep 30, 2021 Dec 31, 2020 Sep 30, 2021 Dec 31, 2020 Sep 30, 2021 Dec 31, 2020 Key property information: Ventures 1 1 2 2 3 3 3 3 9 9 Operating properties 716 706 236 229 804 768 184 167 1,940 1,870 Square feet 119 117 53 51 195 185 74 67 441 420 Financial position: Total assets ($) 10,929 10,840 3,155 3,023 17,747 16,918 10,298 10,209 42,129 40,990 Third-party debt ($) 3,063 3,129 867 854 3,750 4,002 3,992 3,831 11,672 11,816 Total liabilities ($) 3,677 3,722 932 898 5,499 5,607 4,506 4,389 14,614 14,616 Our investment balance ($) (2) 1,883 1,886 832 811 3,363 3,152 818 837 6,896 6,686 Our weighted average ownership (3) 25.3 % 25.6 % 40.1 % 40.8 % 29.7 % 30.0 % 15.2 % 15.2 % 26.0 % 26.1 % U.S. Other Americas (1) Europe Asia Total Operating Information: Sep 30, 2021 Sep 30, 2020 Sep 30, 2021 Sep 30, 2020 Sep 30, 2021 Sep 30, 2020 Sep 30, 2021 Sep 30, 2020 Sep 30, 2021 Sep 30, 2020 For the three months ended: Total revenues ($) 260 237 81 70 348 303 164 148 853 758 Net earnings ($) 152 29 28 23 84 80 49 152 313 284 Our earnings from unconsolidated co-investment ventures, net ($) 40 9 9 8 27 27 8 23 84 67 For the nine months ended: Total revenues ($) 771 702 234 204 1,029 874 483 429 2,517 2,209 Net earnings ($) 255 103 86 69 253 230 120 210 714 612 Our earnings from unconsolidated co-investment ventures, net ($) 68 28 31 26 81 75 20 32 200 161 (1) Prologis Brazil Logistics Venture (“PBLV”) and our other Brazilian joint ventures are combined as one venture for the purpose of this table. ( 2 ) 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 September 30, 2021 and December 31, 2020, resulted principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018; (ii) recording additional costs associated with our investment in the venture; (iii) receivables, principally for fees and promotes ($126.9 million and $165.6 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to Nippon Prologis REIT, Inc. ( 3 ) Represents our weighted average ownership interest in all unconsolidated co-investment ventures based on each entity’s contribution of total assets before depreciation, net of other liabilities.
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 September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Recurring fees $ 100,167 $ 80,403 $ 288,049 $ 231,263 Transactional fees 14,399 15,827 53,476 47,879 Promote revenue (1) 1,570 - 13,821 228,421 Total strategic capital revenues from unconsolidated co-investment ventures (2) $ 116,136 $ 96,230 $ 355,346 $ 507,563 (1) Includes promote revenue earned from our unconsolidated co-investment venture in the U.S. in June 2020. (2) These amounts exclude strategic capital revenues from other ventures.

Assets Held for Sale or Contr_2

Assets Held for Sale or Contribution (Tables)	9 Months Ended
	Sep. 30, 2021
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): September 30, December 31, 2021 2020 (1) Number of operating properties 17 66 Square feet 5,856 12,923 Total assets held for sale or contribution $ 571,671 $ 1,070,724 Total liabilities associated with assets held for sale or contribution – included in Other Liabilities $ 6,178 $ 16,214 (1) At December 31, 2020, Assets Held for Sale or Contribution included certain properties acquired through the Liberty Transaction and the IPT Transaction that were subsequently sold during 2021.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt Summary	The following table summarizes our debt (dollars in thousands): September 30, 2021 December 31, 2020 Weighted Average Amount Weighted Average Amount Interest Rate (1) Term (2) Outstanding (3) Interest Rate (1) Term (2) Outstanding (3) Credit facilities 0.8% 2.5 $ 100,000 0.8% 2.0 $ 171,794 Senior notes 1.6% 11.7 14,887,589 2.0% 11.2 14,275,870 Term loans and unsecured other 0.8% 5.7 1,405,981 0.9% 5.6 1,764,311 Secured mortgage 3.4% 3.2 742,098 3.1% 3.0 637,101 Total 1.6% 10.8 $ 17,135,668 1.9% 10.2 $ 16,849,076 (1) The weighted average 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 and include the impact of designated interest rate swaps, which effectively fix the interest rate on certain variable rate debt. (2) The weighted average term represents the remaining maturity in years on the debt outstanding at period end. (3) We borrow in the functional currencies of the countries where we invest. Included in the outstanding balances were borrowings denominated in the following currencies: September 30, 2021 December 31, 2020 Weighted Average Interest Rate Amount Outstanding % of Total Weighted Average Interest Rate Amount Outstanding % of Total British pound sterling 2.2 % $ 1,005,266 5.9 % 2.2 % $ 1,019,480 6.1 % Canadian dollar 2.7 % 283,751 1.7 % 2.7 % 285,708 1.7 % Euro 1.1 % 6,877,873 40.0 % 1.4 % 6,549,676 38.8 % Japanese yen 0.8 % 3,146,736 18.4 % 0.8 % 2,877,247 17.1 % U.S. dollar 2.6 % 5,822,042 34.0 % 2.8 % 6,116,965 36.3 % Total 1.6 % $ 17,135,668 100.0 % 1.9 % $ 16,849,076 100.0 %
Credit Facilities	The following table summarizes information about our available liquidity at September Aggregate lender commitments Credit Facilities $ 4,990 Less: Borrowings outstanding 100 Outstanding letters of credit 14 Current availability $ 4,876 Cash and cash equivalents 585 Total liquidity $ 5,461
Summary of Issuances and Redemptions of Senior Notes	The following table summarizes the issuances and redemptions of senior notes during the nine months ended September 30, 2021 (principal in thousands): Aggregate Principal Issuance Date Weighted Average Issuance Date Borrowing Currency USD (1) Interest Rate (2) Term (3) Maturity Dates February € 1,350,000 $ 1,639,305 0.7% 14.3 February 2032 – 2041 February $ 400,000 $ 400,000 1.6% 10.1 March 2031 June ¥ 65,000,000 $ 587,441 0.8% 15.4 June 2028 – 2061 Total $ 2,626,746 0.9% 13.9 Aggregate Principal Redemption Date Weighted Average Redemption Date Borrowing Currency USD (1) Interest Rate (2) Term (3) Maturity Dates March € 599,514 $ 715,700 3.4% 3.0 February 2024 March $ 750,000 $ 750,000 3.8% 4.7 November 2025 Total $ 1,465,700 3.6% 3.8 (1) The exchange rate used to calculate into U.S. dollars was the spot rate at the settlement date. (2) The weighted average interest rate represents the fixed or variable interest rates of the related debt at the issuance or redemption date. (3) The weighted average term represents the remaining maturity in years on the related debt at the issuance or redemption date.
Long-Term Debt Maturities	Scheduled principal payments due on our debt for the remainder of 2021 and for each year through the period ended December 31, 2025, and thereafter were as follows at September 30, 2021 (in thousands): Unsecured Credit Senior Term Loans Secured Maturity Facilities Notes and Other Mortgage Total 2021 (1) $ - $ - $ - $ 94,802 $ 94,802 2022 (1) - 521,055 9,780 203,095 733,930 2023 - - 133,850 36,784 170,634 2024 (2) 100,000 - - 174,433 274,433 2025 - 44,648 - 144,446 189,094 Thereafter - 14,396,288 1,268,001 78,095 15,742,384 Subtotal 100,000 14,961,991 1,411,631 731,655 17,205,277 Premiums (discounts), net - 3,495 - 12,319 15,814 Debt issuance costs, net - (77,897 ) (5,650 ) (1,876 ) (85,423 ) Total $ 100,000 $ 14,887,589 $ 1,405,981 $ 742,098 $ 17,135,668 (1) We expect to repay the amounts maturing in the next twelve months with cash generated from operations, proceeds from dispositions of real estate properties, or as necessary, with additional borrowings. (2) Included in the 2024 maturities is the 2021 Global Facility that can be extended until 2025.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	9 Months Ended
	Sep. 30, 2021
Noncontrolling Interest [Abstract]
Summary of Ownership Percentages and Noncontrolling Interests	The following table summarizes these entities (dollars in thousands): Our Ownership Percentage Noncontrolling Interests Total Assets Total Liabilities Sep 30, 2021 Dec 31, 2020 Sep 30, 2021 Dec 31, 2020 Sep 30, 2021 Dec 31, 2020 Sep 30, 2021 Dec 31, 2020 Prologis U.S. Logistics Venture 55.0 % 55.0 % $ 3,204,673 $ 3,385,110 $ 7,272,631 $ 7,663,800 $ 159,883 $ 145,131 Other consolidated entities (1) various various 131,114 98,416 1,395,579 1,066,129 168,807 73,987 Prologis, L.P. 3,335,787 3,483,526 8,668,210 8,729,929 328,690 219,118 Limited partners in Prologis, L.P. (2)(3) 915,570 869,507 - - - - Prologis, Inc. $ 4,251,357 $ 4,353,033 $ 8,668,210 $ 8,729,929 $ 328,690 $ 219,118 ( 1 ) 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 September 30, 2021 and December 31, 2020 were exchangeable into cash or, at our option, 0.3 million shares of the Parent’s common stock. ( 2 ) We had 8.6 million Class A Units that were convertible into 8.0 million limited partnership units of the OP at September 30, 2021 and December 31, 2020. ( 3 ) There were limited partnership units in the OP, excluding the Class A Units, that were exchangeable into cash or, at our option, 8.9 million and 8.2 million shares of the Parent’s common stock at September 30, 2021 and December 31, 2020, respectively. We issued 1.0 million limited partnership units to our partner as partial consideration for the acquisition of additional ownership int erest in an unconsolidated other venture in 2021. Also included are the vested OP Long-Term Incentive Plan Units (“LTIP

Long-Term Compensation (Tables)

Long-Term Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
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 nine months ended September 30, 2021 (units in thousands): Weighted Average Unvested RSUs Grant Date Fair Value Balance at January 1, 2021 986 $ 80.32 Granted (1) 691 78.51 Vested and distributed (392 ) 76.85 Forfeited (150 ) 75.88 Balance at September 30, 2021 1,135 $ 81.01 (1) Included in granted were unvested units based on the POP performance criteria being met for the 2018 – 2020 performance period and represented the earned award amounts subject to an additional vesting period. Unvested units are included in the award discussion above. These amounts also include awards earned for prior performance periods related to the compensation pool in excess of the initial award.
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 nine months ended September 30, 2021 (units in thousands): Unvested Weighted Average LTIP Units Grant Date Fair Value Balance at January 1, 2021 3,052 $ 66.50 Granted (1) 1,264 59.10 Forfeited (51 ) 55.66 Vested LTIP Units (944 ) 79.80 Balance at September 30, 2021 3,321 $ 60.07 (1) Included in granted were unvested units based on the POP performance criteria being met for the 2018 – 2020 performance period and represented the earned award amounts subject to an additional vesting period. Unvested units are included in the award discussion above. These amounts also include awards earned for prior performance periods related to the compensation pool in excess of the initial award.

Earnings Per Common Share or _2

Earnings Per Common Share or Unit (Tables)	9 Months Ended
	Sep. 30, 2021
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 was as follows (in thousands, except per share and unit amounts): Three Months Ended Nine Months Ended September 30, September 30, Prologis, Inc. 2021 2020 2021 2020 Net earnings attributable to common stockholders – Basic $ 722,007 $ 298,695 $ 1,686,447 $ 1,192,652 Net earnings attributable to exchangeable limited partnership units (1) 19,890 8,440 47,131 34,252 Adjusted net earnings attributable to common stockholders – Diluted $ 741,897 $ 307,135 $ 1,733,578 $ 1,226,904 Weighted average common shares outstanding – Basic 739,439 738,194 739,217 724,876 Incremental weighted average effect on exchange of limited partnership units (1) 20,421 21,110 20,860 20,960 Incremental weighted average effect of equity awards 5,085 5,315 4,567 5,135 Weighted average common shares outstanding – Diluted (2) 764,945 764,619 764,644 750,971 Net earnings per share attributable to common stockholders: Basic $ 0.98 $ 0.40 $ 2.28 $ 1.65 Diluted $ 0.97 $ 0.40 $ 2.27 $ 1.63 Three Months Ended Nine Months Ended September 30, September 30, Prologis, L.P. 2021 2020 2021 2020 Net earnings attributable to common unitholders $ 741,794 $ 307,069 $ 1,733,355 $ 1,226,646 Net earnings attributable to Class A Units (7,816 ) (3,216 ) (18,263 ) (13,242 ) Net earnings attributable to common unitholders – Basic 733,978 303,853 1,715,092 1,213,404 Net earnings attributable to Class A Units 7,816 3,216 18,263 13,242 Net earnings attributable to exchangeable other limited partnership units 103 66 223 258 Adjusted net earnings attributable to common unitholders – Diluted $ 741,897 $ 307,135 $ 1,733,578 $ 1,226,904 Weighted average common partnership units outstanding – Basic 751,558 750,971 751,773 737,489 Incremental weighted average effect on exchange of Class A Units 8,003 8,034 8,005 8,048 Incremental weighted average effect on exchange of other limited partnership units 299 299 299 299 Incremental weighted average effect of equity awards of Prologis, Inc. 5,085 5,315 4,567 5,135 Weighted average common units outstanding – Diluted (2) 764,945 764,619 764,644 750,971 Net earnings per unit attributable to common unitholders: Basic $ 0.98 $ 0.40 $ 2.28 $ 1.65 Diluted $ 0.97 $ 0.40 $ 2.27 $ 1.63 (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 Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Class A Units 8,003 8,034 8,005 8,048 Other limited partnership units 299 299 299 299 Equity awards 6,965 7,643 6,863 7,749 Prologis, L.P. 15,267 15,976 15,167 16,096 Common limited partnership units 12,119 12,777 12,556 12,613 Prologis, Inc. 27,386 28,753 27,723 28,709

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Schedule of Fair Value of Derivative Financial Instruments	The following table presents the fair value of our derivative financial instruments recognized within Other Assets Other Liabilities September 30, 2021 December 31, 2020 Asset Liability Asset Liability Undesignated derivatives Foreign currency contracts Forwards Brazilian real $ 495 $ 21 $ 620 $ 66 British pound sterling 6,045 1,690 174 7,589 Canadian dollar 2,970 2,326 80 5,827 Chinese renminbi - 410 - 717 Euro 31,144 - 73 6,247 Japanese yen 17,485 - 720 1,604 Swedish krona 1,578 397 - 2,355 Designated derivatives Foreign currency contracts Net investment hedges British pound sterling 10,463 - - 2,081 Canadian dollar 5,949 748 - 9,847 Interest rate swaps Cash flow hedges Euro - 6 - 9 U.S. dollar - - - 140 Total fair value of derivatives $ 76,129 $ 5,598 $ 1,667 $ 36,482
Summary of Undesignated Financial Instruments Exercised and Realized and Unrealized Gains (Losses) in Foreign Currency and Derivative Gains (Losses) Net	The following table summarizes the undesignated derivative financial instruments exercised and associated realized and unrealized gains (losses) in Foreign Currency and Derivative Gains (Losses), Net Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Exercised contracts 61 28 135 101 Realized gains (losses) on the matured, expired or settled contracts $ (2 ) $ 1 $ (11 ) $ 11 Unrealized gains (losses) on the change in fair value of outstanding contracts $ 35 $ (27 ) $ 75 $ 7
Summary of Activity in Interest Rate Swaps	The following table summarizes the activity of our interest rate swaps designated as cash flow hedges for the nine months ended September 30 (in millions): 2021 2020 EUR (1) USD (1) Total EUR USD Total Notional amounts at January 1 ($) 165 250 415 - - - New contracts ($) - - - 165 1,500 1,665 Matured, expired or settled contracts ($) - (250 ) (250 ) - (1,250 ) (1,250 ) Notional amounts at September 30 ($) 165 - 165 165 250 415 (1) During the year ended December 31, 2020, we entered into interest rate swap contracts to effectively fix the interest rate on our euro senior notes issued in February 2020 and the U.S. dollar outstanding balance on our 2017 Term Loan. In April 2021, the 2017 Term Loan was terminated and the interest rate swap contracts associated with the outstanding balance were settled.
Summary of Debt and Accrued Interest, Designated as Nonderivative Financial Instrument	The following table summarizes our debt and accrued interest, designated as a hedge of our net investment in international subsidiaries as of the quarter ended (in millions): September 30, 2021 December 31, 2020 British pound sterling $ 396 $ 842
Summary of Recognized Unrealized Gains (Losses) in Foreign Currency and Derivative Gains (Losses) Net on Remeasurement of Unhedged Portion of Debt and Accrued Interest	The following table summarizes the unrealized gains (losses) in Foreign Currency and Derivative Gains (Losses), Net September Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 Unrealized gains (losses) on the unhedged portion $ 30 $ (77 ) $ 73 $ (51 )
Summary of Changes in Other Comprehensive Income (Loss)	The following table presents these changes in Other Comprehensive Income (Loss) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Derivative net investment hedges $ 25,549 $ (4,234 ) $ 11,090 $ 18,290 Debt designated as nonderivative net investment hedges 15,118 (46,570 ) (3,715 ) 2,439 Cumulative translation adjustment 8,041 5,228 194,506 (200,891 ) Total foreign currency translation gains (losses), net $ 48,708 $ (45,576 ) $ 201,881 $ (180,162 ) Cash flow hedges (1) (2) $ 872 $ 1,581 $ 8,246 $ (12,857 ) Our share of derivatives from unconsolidated co-investment ventures 2,876 798 5,133 (6,839 ) Total unrealized gains (losses) on derivative contracts, net $ 3,748 $ 2,379 $ 13,379 $ (19,696 ) Total change in other comprehensive income (loss) $ 52,456 $ (43,197 ) $ 215,260 $ (199,858 ) (1) We estimate an additional expense of $2.7 Interest Expense ( 2 ) Included in the nine months ended September 30, 2020 was $16.8 million in losses associated with the termination of four U.S. dollar treasury lock contracts with an aggregate notional amount of $750.0 million that fixed the interest rate on the forecasted issuance of U.S. dollar senior notes issued in February 2020.
Carrying Amounts and Estimated Fair Values of Debt	The following table reflects the carrying amounts and estimated fair values of our debt (in thousands): September 30, 2021 December 31, 2020 Carrying Value Fair Value Carrying Value Fair Value Credit Facilities $ 100,000 $ 100,000 $ 171,794 $ 171,794 Senior notes 14,887,589 15,239,275 14,275,870 15,452,381 Term loans and unsecured other 1,405,981 1,417,333 1,764,311 1,785,706 Secured mortgage 742,098 766,439 637,101 673,549 Total $ 17,135,668 $ 17,523,047 $ 16,849,076 $ 18,083,430
Undesignated Derivatives [Member]
Foreign Currency Contracts Activity	The following table summarizes the activity of our undesignated foreign currency contracts for the nine months ended September 30 (in millions, except for weighted average forward rates and number of active contracts): 2021 2020 CAD EUR GBP JPY SEK Other Total CAD EUR GBP JPY SEK Other Total Notional amounts at January 1 ($) 163 474 207 252 38 28 1,162 120 581 178 182 31 15 1,107 New contracts ($) 219 362 166 77 20 27 871 29 845 294 82 10 32 1,292 Matured, expired or settled contracts ($) (199 ) (120 ) (115 ) (58 ) (14 ) (31 ) (537 ) (32 ) (1,099 ) (311 ) (66 ) (9 ) (31 ) (1,548 ) Notional amounts at September 30 ($) 183 716 258 271 44 24 1,496 117 327 161 198 32 16 851 Weighted average forward rate at September 30 1.26 1.23 1.37 103.19 8.47 1.34 1.17 1.31 102.80 9.35 Active contracts at September 30 73 87 69 78 71 48 55 47 48 31
Designated As Hedging Instrument [Member]
Foreign Currency Contracts Activity	The following table summarizes the activity of our foreign currency contracts designated as net investment hedges for the nine months ended September 30 2021 2020 CAD GBP Total CAD GBP Total Notional amounts at January 1 ($) 377 135 512 97 387 484 New contracts ($) 535 300 835 298 324 622 Matured, expired or settled contracts ($) (299 ) - (299 ) (48 ) (576 ) (624 ) Notional amounts at September 30 ($) 613 435 1,048 347 135 482 Weighted average forward rate at September 30 1.26 1.38 1.32 1.35 Active contracts at September 30 7 4 6 1

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segment Reporting, Reconciliation of Revenues, Operating Income and Assets	The following reconciliations are presented in thousands: Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Revenues: Real estate operations segment: U.S. $ 992,583 $ 933,916 $ 2,939,364 $ 2,660,178 Other Americas 24,791 21,132 74,179 66,947 Europe 11,912 19,558 44,140 53,048 Asia 12,315 9,174 33,728 30,723 Total real estate operations segment 1,041,601 983,780 3,091,411 2,810,896 Strategic capital segment: U.S. 60,319 29,322 130,172 320,181 Other Americas 10,679 8,851 40,817 27,558 Europe 45,325 36,959 136,589 101,081 Asia 25,125 23,861 83,218 67,422 Total strategic capital segment 141,448 98,993 390,796 516,242 Total revenues 1,183,049 1,082,773 3,482,207 3,327,138 Segment net operating income: Real estate operations segment: U.S. (1) 746,710 699,255 2,190,308 1,976,985 Other Americas 18,341 15,288 55,165 48,561 Europe 6,089 14,207 26,754 33,017 Asia 9,441 6,520 24,509 21,543 Total real estate operations segment 780,581 735,270 2,296,736 2,080,106 Strategic capital segment: U.S. (1) 31,397 5,184 55,051 222,390 Other Americas 7,518 6,276 32,072 17,803 Europe 34,088 26,775 102,537 66,483 Asia 16,056 14,967 54,198 35,656 Total strategic capital segment 89,059 53,202 243,858 342,332 Total segment net operating income 869,640 788,472 2,540,594 2,422,438 Reconciling items: General and administrative expenses (66,970 ) (74,348 ) (219,344 ) (208,701 ) Depreciation and amortization expenses (390,806 ) (400,738 ) (1,181,117 ) (1,144,903 ) Gains on dispositions of development properties and land, net 139,406 134,207 500,410 383,373 Gains on other dispositions of investments in real estate, net 214,390 108,927 358,180 184,357 Operating income 765,660 556,520 1,998,723 1,636,564 Earnings from unconsolidated entities, net 91,818 73,972 231,286 216,844 Interest expense (63,638 ) (80,711 ) (203,331 ) (237,651 ) Interest and other income (expense), net (846 ) (5,866 ) 4,615 (4,469 ) Foreign currency and derivative gains (losses), net 64,172 (100,974 ) 138,244 (48,481 ) Losses on early extinguishment of debt, net - (98,266 ) (187,453 ) (164,606 ) Earnings before income taxes $ 857,166 $ 344,675 $ 1,982,084 $ 1,398,201 September 30, 2021 December 31, 2020 Segment assets: Real estate operations segment: U.S. $ 43,812,656 $ 42,559,023 Other Americas 1,218,015 1,145,699 Europe 1,495,595 1,604,393 Asia 1,138,653 1,081,876 Total real estate operations segment 47,664,919 46,390,991 Strategic capital segment: (2) U.S. 12,302 13,257 Europe 25,280 25,280 Asia 312 354 Total strategic capital segment 37,894 38,891 Total segment assets 47,702,813 46,429,882 Reconciling items: Investments in and advances to unconsolidated entities 7,652,323 7,602,014 Assets held for sale or contribution 571,671 1,070,724 Cash and cash equivalents 585,071 598,086 Other assets 504,792 364,299 Total reconciling items 9,313,857 9,635,123 Total assets $ 57,016,670 $ 56,065,005 (1) This includes compensation and personnel costs for employees who were located in the U.S. but also support other geographies. (2) Represents management contracts and goodwill recorded in connection with business combinations associated with the Strategic Capital segment. Goodwill was $25.3 million at September 30, 2021 and December 31, 2020.

General - Additional Informatio

General - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2021Segment
General [Line Items]
Number of reportable segments	2
Unaffiliated Investors and Certain Current and Former Directors and Officers [Member]
General [Line Items]
Percentage of common limited partnership interest	2.74%
General Partner | Prologis Limited Partnership [Member]
General [Line Items]
Percentage of ownership in operating partnership	97.26%

Liberty Transaction - Additiona

Liberty Transaction - Additional Information (Detail) - Liberty Transaction [Member] ft² in Millions, $ in Millions	Feb. 04, 2020USD ($)ft²Property
Business Acquisition [Line Items]
Business acquisition, date of acquisition agreement	Feb. 4, 2020
Business acquisition consideration transferred	$ 13,000
Fair value of Prologis shares and units issued	10,015
Business acquisition, assumption of debt	$ 2,800
Business acquisition stock conversion ratio	0.00675
Number of operating properties acquired | Property	519
Square feet of properties | ft²	99.6
Liberty Transaction [Member]
Business Acquisition [Line Items]
Transaction costs	$ 115.8

Liberty Transaction - Schedule

Liberty Transaction - Schedule of Aggregate Equity Consideration (Detail) - Liberty Transaction [Member] $ / shares in Units, shares in Thousands, $ in Millions	Feb. 04, 2020USD ($)$ / sharesshares
Business Acquisition [Line Items]
Number of Prologis shares and units issued upon conversion of Liberty shares and units at February 4, 2020 | shares	109,010
Multiplied by price of Prologis' common stock on February 3, 2020 | $ / shares	$ 91.87
Fair value of Prologis shares and units issued | $	$ 10,015

Liberty Transaction - Schedul_2

Liberty Transaction - Schedule of Purchase Price Allocated to Liberty Real Estate Properties and Related Lease Intangibles (Detail) - Liberty Transaction [Member] $ in Millions	Feb. 04, 2020USD ($)
Business Acquisition [Line Items]
Net investments in real estate	$ 12,636
Intangible assets, net of intangible liabilities	491
Cash and other assets	233
Debt	(2,845)
Accounts payable, accrued expenses and other liabilities	(383)
Noncontrolling interests	(1)
Total purchase price, including transaction costs	$ 10,131

Real Estate - Investments in Re

Real Estate - Investments in Real Estate Properties (Detail) ft² in Thousands, $ in Thousands		Sep. 30, 2021USD ($)ft²aBuilding	Dec. 31, 2020USD ($)ft²aBuilding
Real Estate Properties [Line Items]
Total investments in real estate properties		$ 52,458,694	$ 50,384,328
Less accumulated depreciation		7,404,304	6,539,156
Net investments in real estate properties		45,054,390	43,845,172
Improved Land [Member]
Real Estate Properties [Line Items]
Total investments in real estate properties		$ 12,145,397	$ 12,017,676
Building and Improvements [Member]
Real Estate Properties [Line Items]
Square feet of properties | ft²		444,812	441,336
Number of buildings | Building		2,286	2,261
Total investments in real estate properties		$ 32,064,117	$ 31,489,943
Development Portfolio, Including Cost of Land: Pre-stabilized [Member]
Real Estate Properties [Line Items]
Square feet of properties | ft²		3,761	6,076
Number of buildings | Building		12	24
Total investments in real estate properties		$ 433,391	$ 553,266
Properties Under Development [Member]
Real Estate Properties [Line Items]
Square feet of properties | ft²		31,967	22,004
Number of buildings | Building		84	61
Total investments in real estate properties		$ 2,377,098	$ 1,329,345
Land [Member]
Real Estate Properties [Line Items]
Square feet of properties | a		5,186	5,304
Total investments in real estate properties	[1]	$ 2,039,754	$ 1,606,358
Other Real Estate Investments [Member]
Real Estate Properties [Line Items]
Total investments in real estate properties	[2]	$ 3,398,937	$ 3,387,740
[1]	At September 30, 2021 and December 31, 2020, our land was comprised of 5,186 and 5,304 acres, respectively.
[2]	Included in other real estate investments were: (i) non-strategic real estate assets acquired in the Liberty Transaction that we do not intend to operate long-term; (ii) real estate assets that we intend to redevelop into industrial properties; (iii) land parcels we own and lease to third parties; and (iv) costs associated with potential acquisitions and future development projects, including purchase options on land.

Real Estate - Investments in _2

Real Estate - Investments in Real Estate Properties (Parenthetical) (Detail) - a	Sep. 30, 2021	Dec. 31, 2020
Land [Member]
Real Estate Properties [Line Items]
Square feet of properties	5,186	5,304

Real Estate - Summary of Acquis

Real Estate - Summary of Acquisition (Detail) ft² in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021USD ($)ft²aProperty	Sep. 30, 2020USD ($)ft²aProperty	Sep. 30, 2021USD ($)ft²aProperty	[1]	Sep. 30, 2020USD ($)ft²aProperty	[2]
Business Acquisition [Line Items]
Number of operating properties | Property		15	2	26		140
Square feet | ft²		3,910	194	6,023		20,470
Acquisition cost of net investments in real estate | $	[3]	$ 757,711	$ 188,717	$ 1,796,383		$ 2,730,377
Acquisitions of Properties from Third Parties [Member] | Land [Member]
Business Acquisition [Line Items]
Acres of land | a		685	156	1,391		611
[1]	During the nine months ended September 30, 2021, we acquired additional ownership interest in unconsolidated other ventures from our partners and began consolidating the real estate assets.
[2]	On January 8, 2020, our two U.S. co-investment ventures, Prologis Targeted U.S. Logistics Fund, L.P. (“USLF”) and Prologis U.S. Logistics Venture, LLC (“USLV”), acquired the wholly-owned real estate assets of Industrial Property Trust Inc. (“IPT”) for $2.0 billion each in a cash transaction, including transaction costs and the assumption and repayment of debt (the “IPT Transaction”). As we consolidate USLV, the number of operating properties, square feet and acquisition cost for the properties acquired by USLV are included in the consolidated acquisition activity
[3]	The acquisition cost of net investments in real estate includes other real estate investments of $50.5 million and $224.3 million during the three and nine months ended September 30, 2021, respectively. Acquisitions of other real estate investments were not material during 2020. This category of real estate is not included within the other metrics in this table.

Real Estate - Summary of Acqu_2

Real Estate - Summary of Acquisition (Parenthetical) (Detail) - USD ($) $ in Thousands	Jan. 08, 2020	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Business Acquisition [Line Items]
Real estate acquisitions			$ 1,196,994	$ 700,793
Acquisition cost of other real estate investments		$ 50,500	$ 224,300
Prologis U.S. Logistics Venture, LLC [Member]
Business Acquisition [Line Items]
Real estate acquisitions	$ 2,000,000

Real Estate - Summary of Dispos

Real Estate - Summary of Dispositions of Net Investments in Real Estate (Detail) ft² in Thousands, $ in Thousands		3 Months Ended			9 Months Ended
		Sep. 30, 2021USD ($)ft²Property	[2]	Sep. 30, 2020USD ($)ft²Property	Sep. 30, 2021USD ($)ft²Property	[2]	Sep. 30, 2020USD ($)ft²Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gains on dispositions of development properties and land, net	[1]	$ 139,406		$ 134,207	$ 500,410		$ 383,373
Gains on other dispositions of investments in real estate, net		$ 214,390		$ 108,927	$ 358,180		$ 184,357
Discontinuing Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of buildings | Property	[1]	12		12	31		32
Square feet | ft²	[1]	2,876		3,150	12,337		11,776
Net proceeds	[1]	$ 368,131		$ 410,398	$ 1,814,331		$ 1,384,227
Continuing Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of buildings | Property		31		15	74		38
Square feet | ft²		5,806		2,558	12,060		6,635
Net proceeds		$ 738,396		$ 409,303	$ 1,334,168		$ 763,615
[1]	The gains we recognize in Gains on Dispositions of Development Properties and Land, Net are primarily driven by the contribution of newly developed properties to our unconsolidated co-investment ventures and occasionally sales to a third party.
[2]	During the three and nine months ended September 30, 2021, we sold our ownership interest in an unconsolidated other venture.

Real Estate - Additional Inform

Real Estate - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Real Estate [Abstract]
Operating lease right-of-use assets	$ 425.6	$ 492.8
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Lease liabilities	$ 419.2	$ 487
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities

Unconsolidated Entities - Summa

Unconsolidated Entities - Summary of Investments in and Advances to our Unconsolidated Entities (Detail) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities		$ 7,652,323	$ 7,602,014
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities		6,896,069	6,685,567
Other Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Investments in and advances to unconsolidated entities	[1]	$ 756,254	$ 916,447
[1]	During the nine months ended September 30, 2021, we acquired additional ownership interest in unconsolidated other ventures from our partners and began consolidating the real estate assets. W e also sold our ownership interest in an unconsolidated other venture.

Unconsolidated Entities - Sum_2

Unconsolidated Entities - Summary of Strategic Capital Revenues Recognized in Consolidated Statements of Income Related to Co-Investment Ventures (Detail) - Unconsolidated Co-Investment Ventures [Member] - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Schedule Of Equity Method Investments [Line Items]
Recurring fees		$ 100,167	$ 80,403	$ 288,049	$ 231,263
Transactional fees		14,399	15,827	53,476	47,879
Promote revenue	[1]	1,570	0	13,821	228,421
Total strategic capital revenues from unconsolidated co-investment ventures	[2]	$ 116,136	$ 96,230	$ 355,346	$ 507,563
[1]	Includes promote revenue earned from our unconsolidated co-investment venture in the U.S. in June 2020.
[2]	These amounts exclude strategic capital revenues from other ventures.

Unconsolidated Entities - Sum_3

Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Detail) $ in Thousands, ft² in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2021USD ($)ft²PropertyVenture	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)ft²PropertyVenture	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)ft²PropertyVenture
Schedule Of Equity Method Investments [Line Items]
Total assets		$ 57,016,670		$ 57,016,670		$ 56,065,005
Total liabilities		20,259,196		20,259,196		$ 19,740,425
Total revenues		1,183,049	$ 1,082,773	3,482,207	$ 3,327,138
Consolidated net earnings		797,731	332,521	1,847,737	1,308,623
Our earnings from unconsolidated co-investment ventures, net		$ 91,818	73,972	$ 231,286	216,844
Unconsolidated Co-Investment Ventures [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		9		9		9
Number of buildings | Property		1,940		1,940		1,870
Square feet | ft²		441		441		420
Total assets		$ 42,129,000		$ 42,129,000		$ 40,990,000
Third-party debt		11,672,000		11,672,000		11,816,000
Total liabilities		14,614,000		14,614,000		14,616,000
Our investment balance	[1]	6,896,000		6,896,000		$ 6,686,000
Total revenues		853,000	758,000	2,517,000	2,209,000
Consolidated net earnings		313,000	284,000	714,000	612,000
Our earnings from unconsolidated co-investment ventures, net		$ 84,000	67,000	$ 200,000	161,000
Unconsolidated Co-Investment Ventures [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		1		1		1
Number of buildings | Property		716		716		706
Square feet | ft²		119		119		117
Total assets		$ 10,929,000		$ 10,929,000		$ 10,840,000
Third-party debt		3,063,000		3,063,000		3,129,000
Total liabilities		3,677,000		3,677,000		3,722,000
Our investment balance	[1]	1,883,000		1,883,000		$ 1,886,000
Total revenues		260,000	237,000	771,000	702,000
Consolidated net earnings		152,000	29,000	255,000	103,000
Our earnings from unconsolidated co-investment ventures, net		$ 40,000	9,000	$ 68,000	28,000
Unconsolidated Co-Investment Ventures [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture	[2]	2		2		2
Number of buildings | Property	[2]	236		236		229
Square feet | ft²	[2]	53		53		51
Total assets	[2]	$ 3,155,000		$ 3,155,000		$ 3,023,000
Third-party debt	[2]	867,000		867,000		854,000
Total liabilities	[2]	932,000		932,000		898,000
Our investment balance	[1],[2]	832,000		832,000		$ 811,000
Total revenues	[2]	81,000	70,000	234,000	204,000
Consolidated net earnings	[2]	28,000	23,000	86,000	69,000
Our earnings from unconsolidated co-investment ventures, net	[2]	$ 9,000	8,000	$ 31,000	26,000
Unconsolidated Co-Investment Ventures [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		3		3		3
Number of buildings | Property		804		804		768
Square feet | ft²		195		195		185
Total assets		$ 17,747,000		$ 17,747,000		$ 16,918,000
Third-party debt		3,750,000		3,750,000		4,002,000
Total liabilities		5,499,000		5,499,000		5,607,000
Our investment balance	[1]	3,363,000		3,363,000		$ 3,152,000
Total revenues		348,000	303,000	1,029,000	874,000
Consolidated net earnings		84,000	80,000	253,000	230,000
Our earnings from unconsolidated co-investment ventures, net		$ 27,000	27,000	$ 81,000	75,000
Unconsolidated Co-Investment Ventures [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Ventures | Venture		3		3		3
Number of buildings | Property		184		184		167
Square feet | ft²		74		74		67
Total assets		$ 10,298,000		$ 10,298,000		$ 10,209,000
Third-party debt		3,992,000		3,992,000		3,831,000
Total liabilities		4,506,000		4,506,000		4,389,000
Our investment balance	[1]	818,000		818,000		$ 837,000
Total revenues		164,000	148,000	483,000	429,000
Consolidated net earnings		49,000	152,000	120,000	210,000
Our earnings from unconsolidated co-investment ventures, net		$ 8,000	$ 23,000	$ 20,000	$ 32,000
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	26.00%		26.00%		26.10%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | U.S. [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	25.30%		25.30%		25.60%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Other Americas [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[2],[3]	40.10%		40.10%		40.80%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Europe [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	29.70%		29.70%		30.00%
Unconsolidated Co-Investment Ventures [Member] | Weighted Average [Member] | Asia [Member]
Schedule Of Equity Method Investments [Line Items]
Our weighted average ownership	[3]	15.20%		15.20%		15.20%
[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 September 30, 2021 and December 31, 2020, resulted principally from four types of transactions: (i) deferred gains from the contribution of property to a venture prior to January 1, 2018; (ii) recording additional costs associated with our investment in the venture; (iii) receivables, principally for fees and promotes ($126.9 million and $165.6 million, respectively); and (iv) customer security deposits retained subsequent to property contributions to Nippon Prologis REIT, Inc.
[2]	Prologis Brazil Logistics Venture (“PBLV”) and our other Brazilian joint ventures are combined as one venture for the purpose of this table.
[3]	Represents our weighted average ownership interest in all unconsolidated co-investment ventures based on each entity’s contribution of total assets before depreciation, net of other liabilities.

Unconsolidated Entities - Sum_4

Unconsolidated Entities - Summary of Operating Information and Financial Position of Unconsolidated Co-investment Ventures (Parenthetical) (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Equity Method Investments And Joint Ventures [Abstract]
Receivables from unconsolidated co-investment ventures	$ 126.9	$ 165.6

Unconsolidated Entities - Addit

Unconsolidated Entities - Additional Information (Detail) - Prologis, Inc. [Member] $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Schedule Of Equity Method Investments [Line Items]
Remaining equity commitments	$ 333.6
Expiration date for remaining commitments range start	2021
Expiration date for remaining commitments range end	2028

Assets Held for Sale or Contr_3

Assets Held for Sale or Contribution - Summary of Assets Held for Sale or Contribution (Detail) ft² in Thousands, $ in Thousands	Sep. 30, 2021USD ($)ft²Property	Dec. 31, 2020USD ($)ft²Property	[1]
Long Lived Assets Held For Sale [Line Items]
Total assets held for sale or contribution	$ 571,671	$ 1,070,724
Total liabilities associated with assets held for sale or contribution – included in Other Liabilities	$ 6,178	$ 16,214
Disposal Group Held for Sale Not Discontinued Operations [Member]
Long Lived Assets Held For Sale [Line Items]
Number of operating properties | Property	17	66
Square feet | ft²	5,856	12,923
[1]	At December 31, 2020, Assets Held for Sale or Contribution included certain properties acquired through the Liberty Transaction and the IPT Transaction that were subsequently sold during 2021.

Debt - Debt Summary (Detail)

Debt - Debt Summary (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.60%	1.90%
Weighted Average Term	10 years 9 months 18 days	10 years 2 months 12 days
Debt	$ 17,135,668	$ 16,849,076
Credit Facilities [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	0.80%	0.80%
Weighted Average Term	2 years 6 months	2 years
Debt	$ 100,000	$ 171,794
Senior Notes [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.60%	2.00%
Weighted Average Term	11 years 8 months 12 days	11 years 2 months 12 days
Debt	$ 14,887,589	$ 14,275,870
Term Loans and Unsecured Other [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	0.80%	0.90%
Weighted Average Term	5 years 8 months 12 days	5 years 7 months 6 days
Debt	$ 1,405,981	$ 1,764,311
Secured Mortgage [Member]
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.40%	3.10%
Weighted Average Term	3 years 2 months 12 days	3 years
Debt	$ 742,098	$ 637,101

Debt - Debt Summary (Parentheti

Debt - Debt Summary (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.60%	1.90%
Debt	$ 17,135,668	$ 16,849,076
GBP
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.20%	2.20%
Debt	$ 1,005,266	$ 1,019,480
Percentage of outstanding debt	5.90%	6.10%
CAD
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.70%	2.70%
Debt	$ 283,751	$ 285,708
Percentage of outstanding debt	1.70%	1.70%
EUR
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.10%	1.40%
Debt	$ 6,877,873	$ 6,549,676
Percentage of outstanding debt	40.00%	38.80%
JPY
Debt Instrument [Line Items]
Weighted Average Interest Rate	0.80%	0.80%
Debt	$ 3,146,736	$ 2,877,247
Percentage of outstanding debt	18.40%	17.10%
USD
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.60%	2.80%
Debt	$ 5,822,042	$ 6,116,965
Percentage of outstanding debt	34.00%	36.30%

Debt - Additional Information (

Debt - Additional Information (Detail) $ in Thousands, ¥ in Billions	1 Months Ended			3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 31, 2018	Aug. 31, 2018	Jul. 31, 2018	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020	Sep. 30, 2021JPY (¥)	Apr. 30, 2021USD ($)
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				$ 4,990,000		$ 4,990,000
Losses on early extinguishment of debt, net				0	$ 98,266	187,453	$ 164,606
Repayment of debt							750,000
Prologis Euro Finance L L C [Member]
Debt Instrument [Line Items]
Percentage of ownership in operating partnership			100.00%
Prologis Yen Finance LLC [Member]
Debt Instrument [Line Items]
Percentage of ownership in operating partnership		100.00%
Prologis Sterling Finance LLC [Member]
Debt Instrument [Line Items]
Percentage of ownership in operating partnership	100.00%
2017 Term Loan [Member]
Debt Instrument [Line Items]
Repayment of debt						250,300
EUR | May 2024 and 2025 Senior Notes [Member]
Debt Instrument [Line Items]
Redemption of senior notes						$ 1,500,000
EUR | May 2021 Senior Notes [Member]
Debt Instrument [Line Items]
Redemption of senior notes							$ 2,000,000
Global Credit Facility2019
Debt Instrument [Line Items]
Debt Instrument maturity date						2023-01
Credit facility maximum borrowing capacity				3,500,000		$ 3,500,000
Ability to increase borrowing capacity subject to currency fluctuations and obtaining additional lender commitments										$ 4,500,000
Global Credit Facility 2021 [Member]
Debt Instrument [Line Items]
Debt Instrument maturity date						2024-04
Credit facility maximum borrowing capacity										1,000,000
Ability to increase borrowing capacity subject to currency fluctuations and obtaining additional lender commitments										$ 2,000,000
Yen Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity				669,700		$ 669,700			¥ 75
Debt Instrument maturity date								2024-07
Credit facility maximum borrowing capacity				$ 491,100		$ 491,100			¥ 55

Debt - Credit Facilities (Detai

Debt - Credit Facilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
Credit facility maximum borrowing capacity	$ 4,990,000
Borrowings outstanding	100,000
Outstanding letters of credit	14,000
Current availability	4,876,000
Cash and cash equivalents	585,071	$ 598,086	$ 940,193	$ 1,088,855
Total liquidity	$ 5,461,000

Debt - Summary of Issuances and

Debt - Summary of Issuances and Redemptions of Senior Notes (Detail) € in Thousands, ¥ in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2021JPY (¥)	Sep. 30, 2021EUR (€)
Issuance of Senior Notes
Debt Instrument [Line Items]
Term	13 years 10 months 24 days
Aggregate Principal	$ 2,626,746
Interest Rate	0.90%	0.90%	0.90%
Issuance of Senior Notes | February 2032 Senior Notes [Member] | EUR
Debt Instrument [Line Items]
Debt Instrument maturity month	2032-02
Issuance of Senior Notes | February 2032 Senior Notes [Member] | EUR | Weighted Average [Member]
Debt Instrument [Line Items]
Term	14 years 3 months 19 days
Aggregate Principal	$ 1,639,305		€ 1,350,000
Interest Rate	0.70%	0.70%	0.70%
Issuance of Senior Notes | February Two Thousand Forty One Senior Notes | EUR
Debt Instrument [Line Items]
Debt Instrument maturity month	2041-02
Issuance of Senior Notes | March Two Thousand And Thirty One Senior Notes | USD
Debt Instrument [Line Items]
Debt Instrument maturity month	2031-03
Issuance of Senior Notes | March Two Thousand And Thirty One Senior Notes | USD | Weighted Average [Member]
Debt Instrument [Line Items]
Term	10 years 1 month 6 days
Aggregate Principal	$ 400,000
Interest Rate	1.60%	1.60%	1.60%
Issuance of Senior Notes | June 2028 Senior Notes [Member] | JPY
Debt Instrument [Line Items]
Debt Instrument maturity month	2028-06
Issuance of Senior Notes | June 2028 Senior Notes [Member] | JPY | Weighted Average [Member]
Debt Instrument [Line Items]
Term	15 years 4 months 24 days
Aggregate Principal	$ 587,441	¥ 65,000,000
Interest Rate	0.80%	0.80%	0.80%
Redemption of Senior Notes
Debt Instrument [Line Items]
Term	3 years 9 months 18 days
Aggregate Principal	$ 1,465,700
Interest Rate	3.60%	3.60%	3.60%
Redemption of Senior Notes | June 2061 Senior Notes [Member] | JPY
Debt Instrument [Line Items]
Debt Instrument maturity month	2061-06
Redemption of Senior Notes | February 2024 Senior Notes [Member] | EUR
Debt Instrument [Line Items]
Debt Instrument maturity month	2024-02
Redemption of Senior Notes | February 2024 Senior Notes [Member] | EUR | Weighted Average [Member]
Debt Instrument [Line Items]
Term	3 years
Aggregate Principal	$ 715,700		€ 599,514
Interest Rate	3.40%	3.40%	3.40%
Redemption of Senior Notes | November 2025 Senior Notes [Member] | USD
Debt Instrument [Line Items]
Debt Instrument maturity month	2025-11
Redemption of Senior Notes | November 2025 Senior Notes [Member] | USD | Weighted Average [Member]
Debt Instrument [Line Items]
Term	4 years 8 months 12 days
Aggregate Principal	$ 750,000
Interest Rate	3.80%	3.80%	3.80%

Debt - Long-Term Debt Maturitie

Debt - Long-Term Debt Maturities (Detail) - USD ($) $ in Thousands		Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
2021	[1]	$ 94,802
2022	[1]	733,930
2023		170,634
2024	[2]	274,433
2025		189,094
Thereafter		15,742,384
Subtotal		17,205,277
Premiums (discounts), net		15,814
Debt issuance costs, net		(85,423)
Total		17,135,668	$ 16,849,076
Credit Facilities [Member]
Debt Instrument [Line Items]
2021	[1]	0
2022	[1]	0
2023		0
2024	[2]	100,000
2025		0
Thereafter		0
Subtotal		100,000
Premiums (discounts), net		0
Debt issuance costs, net		0
Total		100,000	171,794
Senior Notes [Member]
Debt Instrument [Line Items]
2021	[1]	0
2022	[1]	521,055
2023		0
2024	[2]	0
2025		44,648
Thereafter		14,396,288
Subtotal		14,961,991
Premiums (discounts), net		3,495
Debt issuance costs, net		(77,897)
Total		14,887,589	14,275,870
Term Loans and Unsecured Other [Member]
Debt Instrument [Line Items]
2021	[1]	0
2022	[1]	9,780
2023		133,850
2024	[2]	0
2025		0
Thereafter		1,268,001
Subtotal		1,411,631
Premiums (discounts), net		0
Debt issuance costs, net		(5,650)
Total		1,405,981	1,764,311
Secured Mortgage [Member]
Debt Instrument [Line Items]
2021	[1]	94,802
2022	[1]	203,095
2023		36,784
2024	[2]	174,433
2025		144,446
Thereafter		78,095
Subtotal		731,655
Premiums (discounts), net		12,319
Debt issuance costs, net		(1,876)
Total		$ 742,098	$ 637,101
[1]	We expect to repay the amounts maturing in the next twelve months with cash generated from operations, proceeds from dispositions of real estate properties, or as necessary, with additional borrowings.
[2]	Included in the 2024 maturities is the 2021 Global Facility that can be extended until 2025.

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2021
Prologis, L.P. [Member]
Minority Interest [Line Items]
Description of conversion rate	one share of common stock to one limited partnership unit

Noncontrolling Interests - Nonc

Noncontrolling Interests - Noncontrolling Interest Summary (Detail) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Sep. 30, 2021	Dec. 31, 2020
Minority Interest [Line Items]
Total Assets		$ 57,016,670	$ 56,065,005
Operating Partnership noncontrolling interest		3,335,787	3,483,526
Operating Partnership noncontrolling interest		4,251,357	4,353,033
Total Liabilities		20,259,196	19,740,425
Noncontrolling Interests [Member]
Minority Interest [Line Items]
Total Assets		8,668,210	8,729,929
Total Liabilities		$ 328,690	$ 219,118
Prologis U S Logistics Venture [Member]
Minority Interest [Line Items]
Parent Company's Ownership Percentage		55.00%	55.00%
Total Assets		$ 7,272,631	$ 7,663,800
Operating Partnership noncontrolling interest		3,204,673	3,385,110
Total Liabilities		$ 159,883	$ 145,131
Other Consolidated Entities [Member]
Minority Interest [Line Items]
Parent Company's Ownership	[1]	0	0
Total Assets	[1]	$ 1,395,579	$ 1,066,129
Operating Partnership noncontrolling interest	[1]	131,114	98,416
Total Liabilities	[1]	168,807	73,987
Prologis, L.P. [Member]
Minority Interest [Line Items]
Total Assets		57,016,670	56,065,005
Operating Partnership noncontrolling interest		3,335,787	3,483,526
Total Liabilities		20,259,196	19,740,425
Prologis, L.P. [Member] | Noncontrolling Interests [Member]
Minority Interest [Line Items]
Limited partners in Prologis, L.P.	[2],[3]	915,570	869,507
Total Assets	[2],[3]	0	0
Total Liabilities	[2],[3]	0	0
Prologis, Inc. [Member]
Minority Interest [Line Items]
Total Assets		8,668,210	8,729,929
Total Liabilities		328,690	219,118
Prologis, Inc. [Member] | Noncontrolling Interests [Member]
Minority Interest [Line Items]
Operating Partnership noncontrolling interest		$ 4,251,357	$ 4,353,033
[1]	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 September 30, 2021 and December 31, 2020 were exchangeable into cash or, at our option, 0.3 million shares of the Parent’s common stock.
[2]	There were limited partnership units in the OP, excluding the Class A Units, that were exchangeable into cash or, at our option, 8.9 million and 8.2 million shares of the Parent’s common stock at September 30, 2021 and December 31, 2020, respectively. We issued 1.0 million limited partnership units to our partner as partial consideration for the acquisition of additional ownership int erest in an unconsolidated other venture in 2021. Also included are the vested OP Long-Term Incentive Plan Units (“LTIP
[3]	We had 8.6 million Class A Units that were convertible into 8.0 million limited partnership units of the OP at September 30, 2021 and December 31, 2020.

Noncontrolling Interests - No_2

Noncontrolling Interests - Noncontrolling Interest Summary (Parenthetical) (Detail) - shares shares in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Long Term Incentive Plan Units [Member]
Minority Interest [Line Items]
Vested LTIP Units	4,000	3,900
Class A Common [Member]
Minority Interest [Line Items]
Outstanding limited partnership units, exchanged	8,000	8,000
Units outstanding	8,600	8,600
Common Unit [Member]
Minority Interest [Line Items]
Outstanding limited partnership units, exchanged	8,900	8,200
Other Consolidated Entities [Member]
Minority Interest [Line Items]
Outstanding limited partnership units, exchanged	300	300
Other Consolidated Entities [Member] | Common Stock [Member]
Minority Interest [Line Items]
Outstanding limited partnership units	2,000	2,000
Prologis, L.P. [Member] | Class A Common [Member] | Limited Partners [Member]
Minority Interest [Line Items]
Units outstanding	8,595	8,595	8,595	8,595	8,608	8,613
Prologis, L.P. [Member] | Common [Member] | Limited Partners [Member]
Minority Interest [Line Items]
Units outstanding	12,864	12,142	12,231	12,494	12,914	9,933
Partial consideration for the acquisition of additional ownership interest in an unconsolidated other venture from our partner	1,000

Long-Term Compensation - Additi

Long-Term Compensation - Additional Information (Detail) - Prologis Out-Performance Plan [Member] - USD ($)	1 Months Ended	9 Months Ended
	Jan. 31, 2021	Sep. 30, 2021
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%
Performance pool as percentage of excess value, if outperformance hurdle is met		3.00%
Forfeited awards after seven years		7 years
2021 - 2023 Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance Period	3 years
Cash incentive award maximum	$ 100,000,000
Holding period	3 years
Aggregate fair value	$ 30,300,000
Assumed risk free interest rate	0.20%
2021 - 2023 Performance Period [Member] | Tranche 1 [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting rights, percentage		20.00%
2021 - 2023 Performance Period [Member] | Tranche 2 (After Seven Year Cliff) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		7 years
Vesting rights, percentage		80.00%
2021 - 2023 Performance Period [Member] | Prologis, Inc. [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility rate	32.00%
2021 - 2023 Performance Period [Member] | Msci Us Reit Index
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected volatility rate	29.00%
2018 - 2020 Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cash incentive award maximum		$ 100,000,000
2016 - 2018 Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cash incentive award maximum	$ 35,700,000
2017 - 2019 Performance Period [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cash incentive award maximum	$ 35,700,000
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		3 years
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period		10 years

Long-Term Compensation - RSU Aw

Long-Term Compensation - RSU Awards (Detail) - Restricted Stock Units (RSUs) [Member] shares in Thousands	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Unvested Awards, Beginning Balance | shares	986
Granted | shares	691
Vested and distributed | shares	(392)
Forfeited | shares	(150)
Number of Unvested Awards, Ending Balance | shares	1,135
Weighted Average Grant Date Fair Value | $ / shares	$ 80.32
Weighted Average Grant Date Fair Value, Granted | $ / shares	78.51
Weighted Average Grant Date Fair Value, Vested and distributed | $ / shares	76.85
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	75.88
Weighted Average Grant Date Fair Value | $ / shares	$ 81.01

Long-Term Compensation - LTIP U

Long-Term Compensation - LTIP Units Awards (Detail) - Long Term Incentive Plan Units [Member] shares in Thousands	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Unvested Awards, Beginning Balance | shares	3,052
Granted | shares	1,264
Forfeited | shares	(51)
Vested LTIP Units | shares	(944)
Number of Unvested Awards, Ending Balance | shares	3,321
Weighted Average Grant Date Fair Value | $ / shares	$ 66.50
Weighted Average, Granted | $ / shares	59.10
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	55.66
Weighted Average, Vested LTIP Units | $ / shares	79.80
Weighted Average Grant Date Fair Value | $ / shares	$ 60.07

Earnings Per Common Share or _3

Earnings Per Common Share or Unit - Computation of Basic and Diluted Earnings Per Share or Unit (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic		$ 722,007	$ 298,695	$ 1,686,447	$ 1,192,652
Net earnings attributable to exchangeable limited partnership units	[1]	19,890	8,440	47,131	34,252
Adjusted net earnings attributable to common stockholders – Diluted		$ 741,897	$ 307,135	$ 1,733,578	$ 1,226,904
Weighted average common shares/units outstanding - Basic		739,439	738,194	739,217	724,876
Incremental weighted average effect on exchange of limited partnership units		20,421	21,110	20,860	20,960
Incremental weighted average effect of equity awards		5,085	5,315	4,567	5,135
Weighted average common shares/partnership units outstanding - Diluted	[2]	764,945	764,619	764,644	750,971
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic		$ 0.98	$ 0.40	$ 2.28	$ 1.65
Diluted		$ 0.97	$ 0.40	$ 2.27	$ 1.63
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		$ 741,794	$ 307,069	$ 1,733,355	$ 1,226,646
Net earnings attributable to exchangeable limited partnership units		103	66	223	258
Adjusted net earnings attributable to common stockholders – Diluted		$ 741,897	$ 307,135	$ 1,733,578	$ 1,226,904
Weighted average common shares/units outstanding - Basic		751,558	750,971	751,773	737,489
Incremental weighted average effect on exchange of Class A convertible units		8,003	8,034	8,005	8,048
Incremental weighted average effect on exchange of limited partnership units		299	299	299	299
Incremental weighted average effect of equity awards		5,085	5,315	4,567	5,135
Weighted average common shares/partnership units outstanding - Diluted		764,945	764,619	764,644	750,971
Net earnings per share/unit attributable to common stockholders/unitholders -
Basic		$ 0.98	$ 0.40	$ 2.28	$ 1.65
Diluted		$ 0.97	$ 0.40	$ 2.27	$ 1.63
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		$ (7,816)	$ (3,216)	$ (18,263)	$ (13,242)
Adjusted net earnings attributable to common stockholders – Diluted		7,816	3,216	18,263	13,242
Prologis, L.P. [Member] | Common Units [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Net earnings attributable to common stockholders/unit holders - Basic		$ 733,978	$ 303,853	$ 1,715,092	$ 1,213,404
[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:

Earnings Per Common Share or _4

Earnings Per Common Share or Unit - Computation of Basic and Diluted Earnings Per Share or Unit (Parenthetical) (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potential dilutive shares and units outstanding	27,386	28,753	27,723	28,709
Prologis, L.P. [Member]
Summary Of Computation Of Basic And Diluted Earnings Per Share [Line Items]
Total weighted average potentially dilutive Class A Units	8,003	8,034	8,005	8,048
Total weighted average potentially dilutive other limited partnership units	299	299	299	299
Total weighted average potentially dilutive equity awards	6,965	7,643	6,863	7,749
Total weighted average potential dilutive shares and units outstanding	15,267	15,976	15,167	16,096
Total weighted average potential dilutive common limited partnership units	12,119	12,777	12,556	12,613

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements - Schedule of Fair Value of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Derivatives Fair Value [Line Items]
Asset	$ 76,129	$ 1,667
Liability	5,598	36,482
Undesignated Derivatives [Member] | Forwards [Member] | BRL
Derivatives Fair Value [Line Items]
Asset	495	620
Liability	21	66
Undesignated Derivatives [Member] | Forwards [Member] | GBP
Derivatives Fair Value [Line Items]
Asset	6,045	174
Liability	1,690	7,589
Undesignated Derivatives [Member] | Forwards [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	2,970	80
Liability	2,326	5,827
Undesignated Derivatives [Member] | Forwards [Member] | CNY
Derivatives Fair Value [Line Items]
Asset	0	0
Liability	410	717
Undesignated Derivatives [Member] | Forwards [Member] | EUR
Derivatives Fair Value [Line Items]
Asset	31,144	73
Liability	0	6,247
Undesignated Derivatives [Member] | Forwards [Member] | JPY
Derivatives Fair Value [Line Items]
Asset	17,485	720
Liability	0	1,604
Undesignated Derivatives [Member] | Forwards [Member] | SEK
Derivatives Fair Value [Line Items]
Asset	1,578	0
Liability	397	2,355
Designated As Hedging Instrument [Member] | Net Investment Hedges [Member] | GBP
Derivatives Fair Value [Line Items]
Asset	10,463	0
Liability	0	2,081
Designated As Hedging Instrument [Member] | Net Investment Hedges [Member] | CAD
Derivatives Fair Value [Line Items]
Asset	5,949	0
Liability	748	9,847
Designated As Hedging Instrument [Member] | Cash Flow Hedges [Member] | Interest Rate Swaps [Member] | EUR
Derivatives Fair Value [Line Items]
Asset	0	0
Liability	6	9
Designated As Hedging Instrument [Member] | Cash Flow Hedges [Member] | Interest Rate Swaps [Member] | USD
Derivatives Fair Value [Line Items]
Asset	0	0
Liability	$ 0	$ 140

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Summary of Undesignated Foreign Currency Forwards Activity (Detail) - Forwards [Member] - Undesignated Derivatives [Member]	9 Months Ended
	Sep. 30, 2021USD ($)Derivative	Sep. 30, 2020USD ($)Derivative
Derivative [Line Items]
Notional amounts at January 1	$ 1,162,000,000	$ 1,107,000,000
New contracts	871,000,000	1,292,000,000
Matured, expired or settled contracts	(537,000,000)	(1,548,000,000)
Notional amounts at September 30	$ 1,496,000,000	$ 851,000,000
Weighted average forward rate at September 30	0	0
Active contracts at September 30 | Derivative	0	0
CAD
Derivative [Line Items]
Notional amounts at January 1	$ 163,000,000	$ 120,000,000
New contracts	219,000,000	29,000,000
Matured, expired or settled contracts	(199,000,000)	(32,000,000)
Notional amounts at September 30	$ 183,000,000	$ 117,000,000
Weighted average forward rate at September 30	1.26	1.34
Active contracts at September 30 | Derivative	73	48
EUR
Derivative [Line Items]
Notional amounts at January 1	$ 474,000,000	$ 581,000,000
New contracts	362,000,000	845,000,000
Matured, expired or settled contracts	(120,000,000)	(1,099,000,000)
Notional amounts at September 30	$ 716,000,000	$ 327,000,000
Weighted average forward rate at September 30	1.23	1.17
Active contracts at September 30 | Derivative	87	55
GBP
Derivative [Line Items]
Notional amounts at January 1	$ 207,000,000	$ 178,000,000
New contracts	166,000,000	294,000,000
Matured, expired or settled contracts	(115,000,000)	(311,000,000)
Notional amounts at September 30	$ 258,000,000	$ 161,000,000
Weighted average forward rate at September 30	1.37	1.31
Active contracts at September 30 | Derivative	69	47
JPY
Derivative [Line Items]
Notional amounts at January 1	$ 252,000,000	$ 182,000,000
New contracts	77,000,000	82,000,000
Matured, expired or settled contracts	(58,000,000)	(66,000,000)
Notional amounts at September 30	$ 271,000,000	$ 198,000,000
Weighted average forward rate at September 30	103.19	102.80
Active contracts at September 30 | Derivative	78	48
SEK
Derivative [Line Items]
Notional amounts at January 1	$ 38,000,000	$ 31,000,000
New contracts	20,000,000	10,000,000
Matured, expired or settled contracts	(14,000,000)	(9,000,000)
Notional amounts at September 30	$ 44,000,000	$ 32,000,000
Weighted average forward rate at September 30	8.47	9.35
Active contracts at September 30 | Derivative	71	31
Other
Derivative [Line Items]
Notional amounts at January 1	$ 28,000,000	$ 15,000,000
New contracts	27,000,000	32,000,000
Matured, expired or settled contracts	(31,000,000)	(31,000,000)
Notional amounts at September 30	$ 24,000,000	$ 16,000,000
Weighted average forward rate at September 30	0	0
Active contracts at September 30 | Derivative	0	0

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements - Summary of Undesignated Financial Instruments Exercised and Realized and Unrealized Gains (Losses) in Foreign Currency and Derivative Gains (Losses) Net (Detail) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)Contract	Sep. 30, 2020USD ($)Contract	Sep. 30, 2021USD ($)Contract	Sep. 30, 2020USD ($)Contract
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Exercised contracts | Contract	61	28	135	101
Realized gains (losses) on the matured, expired or settled contracts	$ (2)	$ 1	$ (11)	$ 11
Unrealized gains (losses) on the change in fair value of outstanding contracts	$ 35	$ (27)	$ 75	$ 7

Financial Instruments and Fai_6

Financial Instruments and Fair Value Measurements - Foreign Currency Contracts Activity (Detail) - Forwards [Member] - Net Investment Hedges [Member] - Designated As Hedging Instrument [Member]	9 Months Ended
	Sep. 30, 2021USD ($)Derivative	Sep. 30, 2020USD ($)Derivative
Derivative [Line Items]
Notional amounts at January 1	$ 512,000,000	$ 484,000,000
New contracts	835,000,000	622,000,000
Matured, expired or settled contracts	(299,000,000)	(624,000,000)
Notional amounts at September 30	$ 1,048,000,000	$ 482,000,000
Weighted average forward rate at September 30	0	0
Active contracts at September 30 | Derivative	0	0
CAD
Derivative [Line Items]
Notional amounts at January 1	$ 377,000,000	$ 97,000,000
New contracts	535,000,000	298,000,000
Matured, expired or settled contracts	(299,000,000)	(48,000,000)
Notional amounts at September 30	$ 613,000,000	$ 347,000,000
Weighted average forward rate at September 30	1.26	1.32
Active contracts at September 30 | Derivative	7	6
GBP
Derivative [Line Items]
Notional amounts at January 1	$ 135,000,000	$ 387,000,000
New contracts	300,000,000	324,000,000
Matured, expired or settled contracts	0	(576,000,000)
Notional amounts at September 30	$ 435,000,000	$ 135,000,000
Weighted average forward rate at September 30	1.38	1.35
Active contracts at September 30 | Derivative	4	1

Financial Instruments and Fai_7

Financial Instruments and Fair Value Measurements - Summary of Activity in Interest Rate Swaps (Detail) - Interest Rate Swap [Member] - Cash Flow Hedges [Member] - Designated As Hedging Instrument [Member] - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Derivative [Line Items]
Notional amounts at January 1	$ 415,000,000	$ 0
New contracts	0	1,665,000,000
Matured, expired or settled contracts	(250,000,000)	(1,250,000,000)
Notional amounts at September 30	165,000,000	415,000,000
EUR
Derivative [Line Items]
Notional amounts at January 1	165,000,000	0
New contracts	0	165,000,000
Matured, expired or settled contracts	0	0
Notional amounts at September 30	165,000,000	165,000,000
USD
Derivative [Line Items]
Notional amounts at January 1	250,000,000	0
New contracts	0	1,500,000,000
Matured, expired or settled contracts	(250,000,000)	(1,250,000,000)
Notional amounts at September 30	$ 0	$ 250,000,000

Financial Instruments and Fai_8

Financial Instruments and Fair Value Measurements - Summary of Debt and Accrued Interest, Designated as Hedge (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Designated As Hedging Instrument [Member] | British Pound Sterling Senior Notes [Member]
Derivatives Fair Value [Line Items]
Senior Notes Outstanding	$ 396	$ 842

Financial Instruments and Fai_9

Financial Instruments and Fair Value Measurements - Summary of Recognized Unrealized Gains (Losses) in Foreign Currency and Derivative Gains (Losses) Net on Remeasurement of Unhedged Portion of Debt and Accrued Interest (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivatives Fair Value [Line Items]
Foreign currency translation gains (losses), net	$ 48,708	$ (45,576)	$ 201,881	$ (180,162)
Forward Contracts [Member]
Derivatives Fair Value [Line Items]
Foreign currency translation gains (losses), net	$ 30,000	$ (77,000)	$ 73,000	$ (51,000)

Financial Instruments and Fa_10

Financial Instruments and Fair Value Measurements - Summary of Changes in Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative translation adjustment	$ 8,041	$ 5,228	$ 194,506	$ (200,891)
Total foreign currency translation gains (losses), net	48,708	(45,576)	201,881	(180,162)
Total unrealized gains (losses) on derivative contracts, net	3,748	2,379	13,379	(19,696)
Total change in other comprehensive income (loss)	52,456	(43,197)	215,260	(199,858)
Designated As Hedging Instrument [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative hedging instruments	25,549	(4,234)	11,090	18,290
Designated As Hedging Instrument [Member] | Non derivative Net Investment Hedge [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Debt designated as nonderivative net investment hedges	15,118	(46,570)	(3,715)	2,439
Designated As Hedging Instrument [Member] | Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total derivative hedging instruments	872	1,581	8,246	(12,857)
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	$ 2,876	$ 798	$ 5,133	$ (6,839)

Financial Instruments and Fa_11

Financial Instruments and Fair Value Measurements - Summary of Changes in Other Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments Gain Loss [Line Items]
Loss on derivatives	$ (3,748)	$ (2,379)	$ (13,379)	$ 19,696
Repayments of Debt				750,000
Treasury Lock Contracts [Member] | Senior Notes [Member] | USD
Derivative Instruments Gain Loss [Line Items]
Loss on derivatives				$ 16,800
Accumulated Gain (Loss) Net Cash Flow Hedge Parent [Member]
Derivative Instruments Gain Loss [Line Items]
Amount to be reclassified to interest expense, next 12 months	$ 2,700		$ 2,700

Financial Instruments and Fa_12

Financial Instruments and Fair Value Measurements - Carrying Amounts and Estimated Fair Values of Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	$ 17,135,668	$ 16,849,076
Fair Value of Debt	17,523,047	18,083,430
Credit Facilities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	100,000	171,794
Fair Value of Debt	100,000	171,794
Senior Notes [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	14,887,589	14,275,870
Fair Value of Debt	15,239,275	15,452,381
Term Loans and Unsecured Other [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	1,405,981	1,764,311
Fair Value of Debt	1,417,333	1,785,706
Secured Mortgage [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying Value of Debt	742,098	637,101
Fair Value of Debt	$ 766,439	$ 673,549

Business Segments - Additional

Business Segments - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2021Segment
Segment Reporting [Abstract]
Number of operating segments	2

Business Segments - Segment Rep

Business Segments - Segment Reporting, Reconciliation of Revenues, Operating Income and Assets (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2021		Sep. 30, 2020	Sep. 30, 2021		Sep. 30, 2020	Dec. 31, 2020		Dec. 31, 2019
Segment Reporting Information [Line Items]
Total revenues	$ 1,183,049		$ 1,082,773	$ 3,482,207		$ 3,327,138
Operating income	765,660		556,520	1,998,723		1,636,564
General and administrative expenses	66,970		74,348	219,344		208,701
Depreciation and amortization expenses	390,806		400,738	1,181,117		1,144,903
Gains on dispositions of development properties and land, net	139,406		134,207	500,410		383,373
Gains on other dispositions of investments in real estate, net	214,390	[1]	108,927	358,180	[1]	184,357
Earnings from unconsolidated entities, net	91,818		73,972	231,286		216,844
Interest expense	(63,638)		(80,711)	(203,331)		(237,651)
Interest and other income (expense), net	(846)		(5,866)	4,615		(4,469)
Foreign currency and derivative gains (losses), net	64,172		(100,974)	138,244		(48,481)
Losses on early extinguishment of debt, net	0		(98,266)	(187,453)		(164,606)
Earnings before income taxes	857,166		344,675	1,982,084		1,398,201
Total assets	57,016,670			57,016,670			$ 56,065,005
Investments in and advances to unconsolidated entities	7,652,323			7,652,323			7,602,014
Assets held for sale or contribution	571,671			571,671			1,070,724	[2]
Cash and cash equivalents	585,071		940,193	585,071		940,193	598,086		$ 1,088,855
Other assets	3,153,215			3,153,215			2,949,009
Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total assets	47,664,919			47,664,919			46,390,991
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income	869,640		788,472	2,540,594		2,422,438
Total assets	47,702,813			47,702,813			46,429,882
Operating Segments [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	1,041,601		983,780	3,091,411		2,810,896
Operating income	780,581		735,270	2,296,736		2,080,106
Operating Segments [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	141,448		98,993	390,796		516,242
Operating income	89,059		53,202	243,858		342,332
Total assets	37,894			37,894			38,891
Operating Segments [Member] | U.S. [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	992,583		933,916	2,939,364		2,660,178
Operating income	746,710		699,255	2,190,308		1,976,985
Total assets	43,812,656			43,812,656			42,559,023
Operating Segments [Member] | U.S. [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	60,319		29,322	130,172		320,181
Operating income	31,397		5,184	55,051		222,390
Total assets	12,302			12,302			13,257
Operating Segments [Member] | Other Americas [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	24,791		21,132	74,179		66,947
Operating income	18,341		15,288	55,165		48,561
Total assets	1,218,015			1,218,015			1,145,699
Operating Segments [Member] | Other Americas [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	10,679		8,851	40,817		27,558
Operating income	7,518		6,276	32,072		17,803
Operating Segments [Member] | Europe [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	11,912		19,558	44,140		53,048
Operating income	6,089		14,207	26,754		33,017
Total assets	1,495,595			1,495,595			1,604,393
Operating Segments [Member] | Europe [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	45,325		36,959	136,589		101,081
Operating income	34,088		26,775	102,537		66,483
Total assets	25,280			25,280			25,280
Operating Segments [Member] | Asia [Member] | Real Estate Operations [Member]
Segment Reporting Information [Line Items]
Total revenues	12,315		9,174	33,728		30,723
Operating income	9,441		6,520	24,509		21,543
Total assets	1,138,653			1,138,653			1,081,876
Operating Segments [Member] | Asia [Member] | Strategic Capital [Member]
Segment Reporting Information [Line Items]
Total revenues	25,125		23,861	83,218		67,422
Operating income	16,056		14,967	54,198		35,656
Total assets	312			312			354
Reconciling Items [Member]
Segment Reporting Information [Line Items]
Operating income	765,660		556,520	1,998,723		1,636,564
General and administrative expenses	(66,970)		(74,348)	(219,344)		(208,701)
Depreciation and amortization expenses	(390,806)		(400,738)	(1,181,117)		(1,144,903)
Gains on dispositions of development properties and land, net	139,406		134,207	500,410		383,373
Gains on other dispositions of investments in real estate, net	214,390		108,927	358,180		184,357
Earnings from unconsolidated entities, net	91,818		73,972	231,286		216,844
Interest expense	(63,638)		(80,711)	(203,331)		(237,651)
Interest and other income (expense), net	(846)		(5,866)	4,615		(4,469)
Foreign currency and derivative gains (losses), net	64,172		(100,974)	138,244		(48,481)
Losses on early extinguishment of debt, net	0		$ (98,266)	(187,453)		$ (164,606)
Total assets	9,313,857			9,313,857			9,635,123
Investments in and advances to unconsolidated entities	7,652,323			7,652,323			7,602,014
Assets held for sale or contribution	571,671			571,671			1,070,724
Cash and cash equivalents	585,071			585,071			598,086
Other assets	$ 504,792			$ 504,792			$ 364,299
[1]	During the three and nine months ended September 30, 2021, we sold our ownership interest in an unconsolidated other venture.
[2]	At December 31, 2020, Assets Held for Sale or Contribution included certain properties acquired through the Liberty Transaction and the IPT Transaction that were subsequently sold during 2021.

Business Segments - Segment R_2

Business Segments - Segment Reporting, Reconciliation of Revenues, Operating Income and Assets (Parenthetical) (Detail) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Strategic Capital [Member] | Europe [Member]
Segment Reporting Information [Line Items]
Goodwill	$ 25.3	$ 25.3

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands	Feb. 04, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Supplemental Cash Flow Information [Line Items]
Lease Right-of-Use assets		$ 32,700	$ 6,600
Lease liabilities		32,700	6,600
Capitalization for equity based compensation expense		19,400	18,000
Debt		17,135,668		$ 16,849,076
Noncash acquisition, real estate acquired		10,000
Distribution declared			45,600
Interest paid, net of amounts capitalized		224,700	230,900
Cash paid for income taxes, net of refunds		85,000	$ 82,300
Liberty Transaction [Member]
Supplemental Cash Flow Information [Line Items]
Business acquisition consideration transferred	$ 13,000,000
Common Unit [Member]
Supplemental Cash Flow Information [Line Items]
Common limited partnership units, shares			500
Common limited partnership units, amount paid			$ 48,500
Prologis, L.P. [Member]
Supplemental Cash Flow Information [Line Items]
Debt		$ 17,135,668		$ 16,849,076
Common limited partnership units, amount paid			$ 10,013,526
Limited Partners [Member] | Prologis, L.P. [Member]
Supplemental Cash Flow Information [Line Items]
Common limited partnership units, shares		1,000
Common limited partnership units, amount paid		$ 130,400
Limited Partners [Member] | Prologis, L.P. [Member] | Common [Member]
Supplemental Cash Flow Information [Line Items]
PLD units redeemed for common shares		300	300
Common limited partnership units, shares			2,288
Common limited partnership units, amount paid			$ 210,190
Unconsolidated Ventures [Member]
Supplemental Cash Flow Information [Line Items]
Debt		$ 93,700
Unconsolidated Entities [Member]
Supplemental Cash Flow Information [Line Items]
Equity ownership interest received		299,400	399,200
Unconsolidated Other Venture [Member]
Supplemental Cash Flow Information [Line Items]
Debt		$ 121,600
Prologis China Logistics Venture II, LP [Member]
Supplemental Cash Flow Information [Line Items]
Equity ownership interest received			$ 23,700