10-K.Info (Beta Test)
Courtesy of Short Sands, LLC
10-K.Info (Beta Test)
Courtesy of Short Sands, LLC

PROLOGIS, INC.

Ticker: PLD   Fiscal Year: 2010

Consolidated Statements of Operations

Period Ending Dec 31, 2010 10-K (Filed: Feb 18, 2011)

(In Thousands, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2010Dec 31, 2009Dec 31, 2008
REVENUES
COSTS AND EXPENSES
Real estate impairment losses
$
(182,866)
OTHER INCOME AND EXPENSES
Discontinued operations:
Noncontrolling interests' share of net (income) loss:
Income (loss) available to common unitholders attributable to:
Basic income (loss) per common share attributable to common stockholders
Basic income (loss) per common unit attributable to common unitholders
Diluted income (loss) per common share attributable to common stockholders
Diluted income (loss) per common unit attributable to common unitholders
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
WEIGHTED AVERAGE COMMON UNITS OUTSTANDING
Legal Entity
AMB PROPERTY CORPORATION
Class of Stock
Preferred Stock
Net income (loss)15,80615,80615,806
Rental revenues602,640580,411609,187
Private capital revenues30,86038,01368,472
 
Total revenues633,500618,424677,659
 
Property operating costs(110,715)(107,246)(97,953)
Real estate taxes(77,995)(76,025)(75,904)
Depreciation and amortization(196,636)(175,334)(161,000)
General and administrative(124,364)(115,342)(143,962)
Restructuring charges(4,874)(6,368)(12,306)
Fund costs(791)(1,062)(1,078)
Real estate impairment losses(172,059)(182,866)
Other expenses(3,197)(8,681)(520)
Total costs and expenses(518,572)(662,117)(675,589)
Development profits, net of taxes6,73935,87481,084
Gains from sale or contribution of real estate interests, net19,967
Equity in earnings of unconsolidated joint ventures, net17,37211,33117,121
Other income (expense)3,5433,440(3,126)
Interest expense, including amortization(130,338)(118,867)(134,249)
Loss on early extinguishment of debt(2,892)(12,267)(786)
 
Total other income and expenses, net(105,576)(80,489)(19,989)
 
Income (loss) from continuing operations9,352(124,182)(17,919)
 
Income attributable to discontinued operations3,9944,5028,575
Development profits, net of taxes53,002
Gains from sale of real estate interests, net of taxes20,24838,7182,594
 
Total discontinued operations24,24296,22211,169
 
Net income (loss)33,594(27,960)(6,750)
Joint venture partners' share of net income(6,278)(11,063)(32,855)
Joint venture partners' and limited partnership unitholders' share of development profits, net of tax(109)(3,308)(9,041)
Preferred unitholders(4,295)(5,727)
Limited partnership unitholders(88)3,6255,063
Total noncontrolling interests' share of net income(6,475)(15,041)(42,560)
Net income (loss) attributable to AMB Property Corporation27,119(43,001)(49,310)
Preferred stock dividends(15,806)(15,806)(15,806)
Preferred unit redemption discount9,759
Allocation to participating securities(1,346)(1,029)(1,335)
Net income (loss) available to common stockholders9,967(50,077)(66,451)
 
Loss from continuing operations (after preferred stock dividends)(0.08)(1.01)(0.77)
Discontinued operations0.140.640.09
 
Net income (loss) available to common stockholders0.06(0.37)(0.68)
 
Loss from continuing operations (after preferred stock dividends)(0.08)(1.01)(0.77)
Discontinued operations0.140.640.09
 
Net income (loss) available to common stockholders0.06(0.37)(0.68)
 
Basic161,988,053134,321,23197,403,659
 
Diluted161,988,053134,321,23197,403,659
 
AMB PROPERTY, L.P.
Rental revenues602,640580,411609,187
Private capital revenues30,86038,01368,472
 
Total revenues633,500618,424677,659
 
Property operating costs(110,715)(107,246)(97,953)
Real estate taxes(77,995)(76,025)(75,904)
Depreciation and amortization(196,636)(175,334)(161,000)
General and administrative(124,364)(115,342)(143,962)
Restructuring charges(4,874)(6,368)(12,306)
Fund costs(791)(1,062)(1,078)
Real estate impairment losses(172,059)(182,866)
Other expenses(3,197)(8,681)(520)
Total costs and expenses(518,572)(662,117)(675,589)
Development profits, net of taxes6,73935,87481,084
Gains from sale or contribution of real estate interests, net19,967
Equity in earnings of unconsolidated joint ventures, net17,37211,33117,121
Other income (expense)3,5433,440(3,126)
Interest expense, including amortization(130,338)(118,867)(134,249)
Loss on early extinguishment of debt(2,892)(12,267)(786)
 
Total other income and expenses, net(105,576)(80,489)(19,989)
 
Income (loss) from continuing operations9,352(124,182)(17,919)
 
Income attributable to discontinued operations3,9944,5028,575
Development profits, net of taxes53,002
Gains from sale of real estate interests, net of taxes20,24838,7182,594
 
Total discontinued operations24,24296,22211,169
 
Net income (loss)33,594(27,960)(6,750)
Joint venture partners' share of net income(6,278)(11,063)(32,855)
Joint venture partners' and Class B limited partnership unitholders' share of development profits, net of tax(16)(1,804)(6,219)
Preferred unitholders(4,295)(5,727)
Limited partnership unitholders(26)1,3321,459
Total noncontrolling interests' share of net income(6,320)(15,830)(43,342)
Net income (loss) attributable to AMB Property Corporation27,274(43,790)(50,092)
Preferred stock dividends(15,806)(15,806)(15,806)
Preferred unit redemption discount9,759
Allocation to participating securities(1,346)(1,029)(1,335)
Net income (loss) available to common unitholders10,122(50,866)(67,233)
 
General partner9,967(50,077)(66,451)
Limited partners155(789)(782)
 
Net income (loss) available to common unitholders10,122(50,866)(67,233)
 
Loss from continuing operations (after preferred stock distributions)(0.08)(1.02)(0.75)
Discontinued operations0.140.650.09
 
Net income( loss) available to common unitholders0.06(0.37)(0.66)
 
(Loss) income from continuing operations (after preferred unit distributions)(0.08)(1.02)(0.75)
Discontinued operations0.140.650.09
 
Net income (loss) available to common unitholders0.06(0.37)(0.66)
 
Basic164,290,475136,484,612101,253,972
 
Diluted164,290,475136,484,612101,253,972
 
10-K.Info (Beta Test)
Courtesy of Short Sands, LLC

PROLOGIS, INC.

Ticker: PLD   Fiscal Year: 2010

Consolidated Statements of Cash Flows

Period Ending Dec 31, 2010 10-K (Filed: Feb 18, 2011)

(In Thousands, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2010Dec 31, 2009Dec 31, 2008
CASH FLOWS FROM OPERATING ACTIVITIES
Adjustments to net income (loss) :
Real estate impairment losses
$
182,866
Discontinued operations:
Changes in assets and liabilities:
CASH FLOWS FROM INVESTING ACTIVITIES
CASH FLOWS FROM FINANCING ACTIVITIES
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Non-cash transactions:
Legal Entity
AMB PROPERTY CORPORATION
Net income (loss)33,594(27,960)(6,750)
Straight-line rents and amortization of lease intangibles(16,305)(10,531)(10,549)
Depreciation and amortization196,636175,334161,000
Real estate impairment losses172,059182,866
Foreign exchange (gains) losses(1,459)6,0811,043
Stock-based compensation amortization23,94123,04921,467
Equity in earnings of unconsolidated joint ventures(17,372)(11,331)(17,121)
Operating distributions received from unconsolidated joint ventures25,42411,68724,279
Gains from sale or contribution of real estate interests, net of taxes(19,967)
Development profits, net of taxes(6,739)(35,874)(81,084)
Debt premiums, discounts and finance cost amortization, net23,12721,8669,192
Depreciation and amortization3,4476,6028,199
Real estate impairment losses9,79411,052
Development profits, net of taxes(53,002)
Gains from sale of real estate interests, net of taxes(20,248)(38,718)(2,594)
Accounts receivable and other assets(18,328)17,31127,776
Accounts payable and other liabilities27,042(23,254)(6,195)
 
Net cash provided by operating activities252,760243,113302,614
Change in restricted cash(9,189)(2,312)(671)
Cash paid for property acquisitions(13,000)(195,554)
Additions to land, buildings, development costs, building improvements and lease costs(259,919)(402,349)(1,020,819)
Net proceeds from divestiture of real estate and securities101,660482,515421,647
Additions to interests in unconsolidated joint ventures(413,451)(7,447)(52,267)
Repayment of mortgage and loan receivables81,542
Capital distributions received from unconsolidated joint ventures2,1829,45735,012
Cash transferred to unconsolidated joint ventures(357)(16,848)
Repayments from (loans made to) affiliates5,0894,590(73,480)
Purchase of equity interests, net(60,330)
Net cash (used in) provided by investing activities(586,628)84,097(881,768)
Issuance of common stock, net478,847552,319
Proceeds from stock option exercises7,2881,8234,213
Purchase of noncontrolling interest(9,926)(8,968)
Repurchase and retirement of common stock(87,696)
Borrowings on secured debt184,114147,995641,572
Payments on secured debt(332,209)(478,699)(210,440)
Borrowings on other debt206,046219,045525,000
Payments on other debt(292,030)(122,632)(212,547)
Borrowings on unsecured credit facilities654,275704,6391,913,126
Payments on unsecured credit facilities(892,057)(1,147,258)(1,856,734)
Payment of financing fees(38,340)(25,187)(14,931)
Net proceeds from issuances of senior debt571,622500,000325,000
Payments on senior debt(48,500)(497,103)(175,000)
Issuance, redemption or repurchases of preferred stock or units(322)(10)
Forfeiture of stock(3,584)(837)(1,594)
Contributions from noncontrolling interests50,99015,11716,695
Dividends paid to common and preferred stockholders(193,428)(137,108)(220,476)
Distributions to noncontrolling interests, including preferred units(13,374)(21,178)(66,007)
Net cash provided by (used in) financing activities329,734(298,354)580,171
Net effect of exchange rate changes on cash15,389(65,623)2,695
Net increase (decrease) in cash and cash equivalents11,255(36,767)3,712
Cash and cash equivalents at beginning of period198,424223,936223,936
Cash and cash equivalents at end of period198,424223,936223,936
 
Cash paid for interest, net of capitalized interest122,198108,901137,613
 
Acquisition of properties13,337227,612
Assumption of secured debt(16,843)
Assumption of other assets and liabilities(7,564)
Acquisition capital(337)(7,651)
 
Net cash paid for property acquisitions13,000195,554
 
Preferred unit redemption (discount) issuance costs(9,759)
Contribution of properties to unconsolidated joint ventures, net22,39141,379114,423
Exchange of common stock for preferred units67,802
Stock proceeds from stock option exercises10,384
AMB PROPERTY, L.P.
Net income (loss)33,594(27,960)(6,750)
Straight-line rents and amortization of lease intangibles(16,305)(10,531)(10,549)
Depreciation and amortization196,636175,334161,000
Real estate impairment losses172,059182,866
Foreign exchange (gains) losses(1,459)6,0811,043
Stock-based compensation amortization23,94123,04921,467
Equity in earnings of unconsolidated joint ventures(17,372)(11,331)(17,121)
Operating distributions received from unconsolidated joint ventures25,42411,68724,279
Gains from sale or contribution of real estate interests, net of taxes(19,967)
Development profits, net of taxes(6,739)(35,874)(81,084)
Debt premiums, discounts and finance cost amortization, net23,12721,8669,192
Depreciation and amortization3,4476,6028,199
Real estate impairment losses9,79411,052
Development profits, net of taxes(53,002)
Gains from sale of real estate interests, net of taxes(20,248)(38,718)(2,594)
Accounts receivable and other assets(18,328)17,31127,776
Accounts payable and other liabilities27,042(23,254)(6,195)
 
Net cash provided by operating activities252,760243,113302,614
Change in restricted cash(9,189)(2,312)(671)
Cash paid for property acquisitions(13,000)(195,554)
Additions to land, buildings, development costs, building improvements and lease costs(259,919)(402,349)(1,020,819)
Net proceeds from divestiture of real estate and securities101,660482,515421,647
Additions to interests in unconsolidated joint ventures(413,451)(7,447)(52,267)
Repayment of mortgage and loan receivables81,542
Capital distributions received from unconsolidated joint ventures2,1829,45735,012
Cash transferred to unconsolidated joint ventures(357)(16,848)
Repayments from (loans made to) affiliates5,0894,590(73,480)
Purchase of equity interests, net(60,330)
Net cash (used in) provided by investing activities(586,628)84,097(881,768)
Issuance of common stock, net478,847552,319
Proceeds from stock option exercises7,2881,8234,213
Purchase of noncontrolling interest(9,926)(8,968)
Repurchase and retirement of common stock(87,696)
Borrowings on secured debt184,114147,995641,572
Payments on secured debt(332,209)(478,699)(210,440)
Borrowings on other debt206,046219,045525,000
Payments on other debt(292,030)(122,632)(212,547)
Borrowings on unsecured credit facilities654,275704,6391,913,126
Payments on unsecured credit facilities(892,057)(1,147,258)(1,856,734)
Payment of financing fees(38,340)(25,187)(14,931)
Net proceeds from issuances of senior debt571,622500,000325,000
Payments on senior debt(48,500)(497,103)(175,000)
Issuance, redemption or repurchases of preferred stock or units(322)(10)
Forfeiture of stock(3,584)(837)(1,594)
Contributions from noncontrolling interests50,99015,11716,695
Distributions paid to partners(195,755)(139,515)(224,549)
Distributions to noncontrolling interests, including preferred units(11,047)(18,771)(61,934)
Net cash provided by (used in) financing activities329,734(298,354)580,171
Net effect of exchange rate changes on cash15,389(65,623)2,695
Net increase (decrease) in cash and cash equivalents11,255(36,767)3,712
Cash and cash equivalents at beginning of period198,424223,936223,936
Cash and cash equivalents at end of period198,424223,936223,936
 
Cash paid for interest, net of capitalized interest122,198108,901137,613
 
Acquisition of properties13,337227,612
Assumption of secured debt(16,843)
Assumption of other assets and liabilities(7,564)
Acquisition capital(337)(7,651)
 
Net cash paid for property acquisitions13,000195,554
 
Preferred unit redemption (discount) issuance costs(9,759)
Contribution of properties to unconsolidated joint ventures, net22,39141,379114,423
Exchange of common stock for preferred units67,802
Unit proceeds received from stock option exercises10,384
10-K.Info (Beta Test)
Courtesy of Short Sands, LLC

PROLOGIS, INC.

Ticker: PLD   Fiscal Year: 2010

Consolidated Balance Sheets

Period Ending Dec 31, 2010 10-K (Filed: Feb 18, 2011)

(In Thousands, except shares in actual)
 As ofAs of
 Dec 31, 2010Dec 31, 2009
ASSETS
Investments in real estate:
LIABILITIES AND EQUITY
Liabilities:
Debt:
Stockholders' equity:
Partners' capital:
Noncontrolling interests:
Legal Entity
AMB PROPERTY CORPORATION
Class of Stock
Preferred Stock
Total equity
$
223,412
223,412
 
Series L Preferred Stock
Preferred stock, cumulative, redeemable48,01748,017
Series M Preferred Stock
Preferred stock, cumulative, redeemable55,18755,187
Land1,396,3211,317,461
Land held for development672,883591,489
Buildings and improvements4,808,6674,439,313
Construction in progress28,305360,397
 
Total investments in properties6,906,1766,708,660
Accumulated depreciation and amortization(1,268,093)(1,113,808)
Net investments in properties5,638,0835,594,852
Investments in unconsolidated joint ventures883,241462,130
Properties held for sale or contribution, net242,098214,426
 
Net investments in real estate6,763,4226,271,408
Cash and cash equivalents198,424187,169
Restricted cash29,99118,908
Accounts receivable, net of allowance for doubtful accounts of $9,551 and $11,715, respectively167,735155,958
Deferred financing costs, net38,07924,883
Other assets175,244183,632
 
Total assets7,372,8956,841,958
 
Secured debt962,4341,096,554
Unsecured senior debt1,685,9561,155,529
Unsecured credit facilities268,933477,630
Other debt413,976482,883
 
Total debt3,331,2993,212,596
Security deposits57,55553,283
Dividends payable51,40046,041
Accounts payable and other liabilities230,519238,718
 
Total liabilities3,670,7733,550,638
Commitments and contingencies (Note 18)  
Common stock, $.01 par value, 500,000,000 shares authorized, 168,736,081 and 149,258,376 issued and outstanding, respectively1,6841,489
Additional paid-in capital3,071,1342,740,307
Retained deficit(17,695)(29,008)
Accumulated other comprehensive income42,1883,816
 
Total stockholders' equity3,320,7232,940,016
Joint venture partners325,590289,909
Limited partnership unitholders55,80961,395
 
Total noncontrolling interests381,399351,304
 
Total equity3,702,1223,291,320
 
Total liabilities and equity7,372,8956,841,958
 
Series O Preferred Stock
Preferred stock, cumulative, redeemable72,12772,127
Series P Preferred Stock
Preferred stock, cumulative, redeemable48,08148,081
AMB PROPERTY, L.P.
Land1,396,3211,317,461
Land held for development672,883591,489
Buildings and improvements4,808,6674,439,313
Construction in progress28,305360,397
 
Total investments in properties6,906,1766,708,660
Accumulated depreciation and amortization(1,268,093)1,113,808
Net investments in properties5,638,0835,594,852
Investments in unconsolidated joint ventures883,241462,130
Properties held for sale or contribution, net242,098214,426
 
Net investments in real estate6,763,4226,271,408
Cash and cash equivalents198,424187,169
Restricted cash29,99118,908
Accounts receivable, net of allowance for doubtful accounts of $9,551 and $11,715, respectively167,735155,958
Deferred financing costs, net38,07924,883
Other assets175,244183,632
 
Total assets7,372,8956,841,958
 
Secured debt962,4341,096,554
Unsecured senior debt1,685,9561,155,529
Unsecured credit facilities268,933477,630
Other debt413,976482,883
 
Total debt3,331,2993,212,596
Security deposits57,55553,283
Dividends payable51,40046,041
Accounts payable and other liabilities230,519238,718
 
Total liabilities3,670,7733,550,638
Commitments and contingencies (Note 18)  
General partner, 168,506,670 and 149,028,965 units outstanding, respectively; 2,000,000 Series L preferred units issued and outstanding with a $50,000 liquidation preference, 2,300,000 Series M preferred units issued and outstanding with a $57,500 liquidation preference, 3,000,000 Series O preferred units issued and outstanding with a $75,000 liquidation preference and 2,000,000 Series P preferred units issued and outstanding with a $50,000 liquidation preference3,320,7232,940,016
Limited partners, 2,058,730 and 2,119,928 units outstanding, respectively37,77338,561
 
Total partners' capital3,358,4962,978,577
Joint venture partners325,590289,909
Limited partnership unitholders18,03622,834
 
Total noncontrolling interests343,626312,743
 
Total capital3,702,1223,291,320
 
Total liabilities and capital7,372,8956,841,958
 
External Links 
PROLOGIS, INC. (PLD) Fiscal Year 2010
Statements of 10-K in Excel https://www.sec.gov/.../Financial.xlxs
Complete 10-K in HTML https://www.sec.gov/.../10-K.html
Complete 10-K in XBRL https://www.sec.gov/.../10-K-xbrl.zip