10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PROLOGIS, INC. | |||
Ticker: PLD Fiscal Year: 2011 | |||
Consolidated Statements of Operations | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 29, 2012) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Revenues: | |||
| Rental income | $ 1,376,836 | 744,540 | 692,984 |
| Private capital revenue | 137,619 | 122,526 | 144,963 |
| CDFS disposition proceeds | 180,237 | ||
| Development management and other income | 18,836 | 17,521 | 8,987 |
| Total revenues | 1,533,291 | 884,587 | 1,027,171 |
| Expenses: | |||
| Rental expenses | 384,652 | 215,208 | 214,101 |
| Private capital expenses | 54,962 | 40,659 | 43,416 |
| General and administrative expenses | 195,161 | 165,981 | 192,231 |
| Merger, acquisition and other integration expenses | 140,495 | ||
| Impairment of real estate properties | 21,237 | 736,612 | 331,592 |
| Depreciation and amortization | 585,323 | 311,268 | 266,364 |
| Other expenses | 24,031 | 16,355 | 24,025 |
| Total expenses | 1,405,861 | 1,486,083 | 1,071,729 |
| Operating income (loss) | 127,430 | (601,496) | (44,558) |
| Other income (expense): | |||
| Earnings from unconsolidated investees, net | 59,935 | 23,678 | 28,059 |
| Interest expense | (468,738) | (461,166) | (372,768) |
| Impairment of goodwill and other assets | (126,432) | (412,745) | (163,644) |
| Interest and other income (expense), net | 12,008 | 15,847 | (39,349) |
| Gains on acquisitions and dispositions of investments in real estate, net | 111,684 | 28,488 | 35,262 |
| Foreign currency exchange and derivative gains (losses), net | 41,172 | (11,081) | 35,626 |
| Gain (loss) on early extinguishment of debt, net | 258 | (201,486) | 172,258 |
| Total other income (expense) | (370,113) | (1,018,465) | (304,556) |
| Loss before income taxes | (242,683) | (1,619,961) | (349,114) |
| Current income tax expense | 21,579 | 21,724 | 29,262 |
| Deferred income tax benefit | (19,803) | (52,223) | (23,287) |
| Total income tax expense (benefit) | 1,776 | (30,499) | 5,975 |
| Loss from continuing operations | (244,459) | (1,589,462) | (355,089) |
| Discontinued operations: | |||
| Income attributable to disposed properties and assets held for sale | 27,907 | 84,435 | 114,239 |
| Net gains on dispositions, net of related impairment charges and taxes | 58,614 | 234,574 | 264,779 |
| Total discontinued operations | 86,521 | 319,009 | 379,018 |
| Consolidated net earnings (loss) | (157,938) | (1,270,453) | 23,929 |
| Net loss (earnings) attributable to noncontrolling interests | 4,524 | (43) | (1,156) |
| Net earnings (loss) attributable to controlling interests | (153,414) | (1,270,496) | 22,773 |
| Less preferred share dividends | 34,696 | 25,424 | 25,423 |
| Net loss attributable to common shares | (188,110) | (1,295,920) | (2,650) |
| Weighted average common shares outstanding - Basic | 370,534 | 219,515 | 179,966 |
| Weighted average common shares outstanding - Diluted | 370,534 | 219,515 | 179,966 |
| Net earnings (loss) per share Attributable to common shares - Basic: | |||
| Continuing operations | (0.74) | (7.35) | (2.12) |
| Discontinued operations | 0.23 | 1.45 | 2.11 |
| Net loss per share attributable to common shares - Basic | (0.51) | (5.90) | (0.01) |
| Net earnings (loss) per share attributable to common shares - Diluted: | |||
| Continuing operations | (0.74) | (7.35) | (2.12) |
| Discontinued operations | 0.23 | 1.45 | 2.11 |
| Net loss per share attributable to common shares - Diluted | (0.51) | (5.90) | (0.01) |
| Dividends per common share | 1.06 | 1.25 | 1.57 |
| Legal Entity | |||
| Prologis, L.P. | |||
| Rental income | 1,376,836 | 744,540 | 692,984 |
| Private capital revenue | 137,619 | 122,526 | 144,963 |
| CDFS disposition proceeds | 180,237 | ||
| Development management and other income | 18,836 | 17,521 | 8,987 |
| Total revenues | 1,533,291 | 884,587 | 1,027,171 |
| Rental expenses | 384,652 | 215,208 | 214,101 |
| Private capital expenses | 54,962 | 40,659 | 43,416 |
| General and administrative expenses | 195,161 | 165,981 | 192,231 |
| Merger, acquisition and other integration expenses | 140,495 | ||
| Impairment of real estate properties | 736,612 | 331,592 | |
| Depreciation and amortization | 585,323 | 311,268 | 266,364 |
| Other expenses | 24,031 | 16,355 | 24,025 |
| Total expenses | 1,405,861 | 1,486,083 | 1,071,729 |
| Operating income (loss) | 127,430 | (601,496) | (44,558) |
| Earnings from unconsolidated investees, net | 59,935 | 23,678 | 28,059 |
| Interest expense | (468,738) | (461,166) | (372,796) |
| Impairment of goodwill and other assets | (126,432) | (412,745) | (163,644) |
| Interest and other income (expense), net | 12,008 | 15,847 | (39,349) |
| Gains on acquisitions and dispositions of investments in real estate, net | 111,684 | 28,488 | 35,262 |
| Foreign currency exchange and derivative gains (losses), net | 41,172 | (11,081) | 35,626 |
| Gain (loss) on early extinguishment of debt, net | 258 | (201,486) | 172,258 |
| Total other income (expense) | (370,113) | (1,018,465) | (304,556) |
| Loss before income taxes | (242,683) | (1,619,961) | (349,114) |
| Current income tax expense | 21,579 | 21,724 | 29,262 |
| Deferred income tax benefit | (19,803) | (52,223) | (23,287) |
| Total income tax expense (benefit) | 1,776 | (30,499) | 5,975 |
| Loss from continuing operations | 244,459 | (1,589,462) | (355,089) |
| Income attributable to disposed properties and assets held for sale | 27,907 | 84,435 | 114,239 |
| Net gains on dispositions, net of related impairment charges and taxes | 58,614 | 234,574 | 264,779 |
| Total discontinued operations | 86,521 | 319,009 | 379,018 |
| Consolidated net earnings (loss) | (157,938) | (1,270,453) | 23,929 |
| Net loss (earnings) attributable to noncontrolling interests | 4,175 | (43) | (1,156) |
| Net earnings (loss) attributable to controlling interests | (153,763) | (1,270,496) | 22,773 |
| Less preferred share dividends | 34,696 | 25,424 | 25,423 |
| Net loss attributable to common shares | (188,459) | (1,295,920) | (2,650) |
| Weighted average common shares outstanding - Basic | 371,730 | 219,515 | 179,966 |
| Weighted average common shares outstanding - Diluted | 371,730 | 219,515 | 179,966 |
| Continuing operations | (0.74) | (7.35) | (2.12) |
| Discontinued operations | 0.23 | 1.45 | 2.11 |
| Net loss per share attributable to common shares - Basic | (0.51) | (5.90) | (0.01) |
| Continuing operations | (0.74) | (7.35) | (2.12) |
| Discontinued operations | 0.23 | 1.45 | 2.11 |
| Net loss per share attributable to common shares - Diluted | (0.51) | (5.90) | (0.01) |
| Dividends per common share | 1.06 | 1.25 | 1.57 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PROLOGIS, INC. | |||
Ticker: PLD Fiscal Year: 2011 | |||
Consolidated Statements of Comprehensive Income (Loss) | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 29, 2012) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Net earnings (loss) attributable to controlling interests | $ (153,414) | (1,270,496) | 22,773 |
| Other comprehensive income (loss): | |||
| Foreign currency translation gains (losses), net | (170,995) | (42,315) | 59,888 |
| Unrealized gains (losses) and amortization on derivative contracts, net | (8,166) | (3,143) | 11,784 |
| Comprehensive income (loss) attributable to common shares | (332,575) | (1,315,954) | 94,445 |
| Legal Entity | |||
| Prologis, L.P. | |||
| Net earnings (loss) attributable to controlling interests | (153,763) | (1,270,496) | 22,773 |
| Foreign currency translation gains (losses), net | (170,995) | (42,315) | 59,888 |
| Unrealized gains (losses) and amortization on derivative contracts, net | (8,166) | (3,143) | 11,784 |
| Comprehensive income (loss) attributable to common shares | (332,924) | (1,315,954) | 94,445 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PROLOGIS, INC. | |||
Ticker: PLD Fiscal Year: 2011 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 29, 2012) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Operating activities: | |||
| Consolidated net earnings (loss) | $ (157,938) | (1,270,453) | 23,929 |
| Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: | |||
| Straight-lined rents | (59,384) | (40,983) | (38,997) |
| Cost of share-based compensation awards | 28,920 | 25,085 | 17,242 |
| Depreciation and amortization | 603,884 | 356,694 | 327,126 |
| Earnings from unconsolidated investees | (59,935) | (23,678) | (28,059) |
| Earnings from unconsolidated investees | (59,935) | (23,678) | (28,861) |
| Changes in operating receivables and distributions from unconsolidated investees | 58,981 | 79,671 | 69,656 |
| Amortization of debt and lease intangibles | 43,556 | 79,538 | 84,755 |
| Debt consent solicitation expenses | 14,547 | ||
| Non-cash merger expenses | 20,290 | 0 | |
| Impairment of goodwill and other assets | 126,432 | 412,745 | 163,644 |
| Impairment of real estate properties | 21,237 | 736,612 | 331,592 |
| Net gains on dispositions, net of related impairment charges, included in discontinued operations | (61,830) | (234,574) | (264,779) |
| Gains recognized on property acquisitions and dispositions, net | (111,684) | (28,488) | (35,262) |
| Gains recognized on disposition of investments in Japan property funds | (180,237) | ||
| Loss (gain) on early extinguishment of debt, net | (258) | 201,486 | (172,258) |
| Unrealized foreign currency and derivative losses (gains), net | (38,398) | 11,487 | (58,128) |
| Deferred income tax benefit | (19,803) | (52,223) | (23,287) |
| Decrease (increase) in restricted cash, accounts receivable and other assets | (40,095) | 63,701 | 102,510 |
| Decrease in accounts payable and accrued expenses and other liabilities | (146,911) | (75,837) | (244,085) |
| Net cash provided by operating activities | 207,064 | 240,783 | 89,095 |
| Investing activities: | |||
| Real estate investments | (1,025,794) | (458,125) | (1,241,836) |
| Tenant improvements and lease commissions on previously leased space | (88,368) | (57,240) | (49,783) |
| Non-development capital expenditures | (55,702) | (28,565) | (26,506) |
| Investments in and net advances to unconsolidated investees | (37,755) | (335,396) | (401,386) |
| Return of investment from unconsolidated investees | 170,158 | 220,195 | 81,216 |
| Proceeds from dispositions of real estate properties | 1,644,152 | 1,642,986 | 1,520,519 |
| Proceeds from dispositions of China operations and Japan property funds | 1,345,468 | ||
| Proceeds from repayment of notes receivable | 6,450 | 18,440 | 12,430 |
| Investments in notes receivable backed by real estate and advances on other notes receivable | (55,000) | (269,000) | (4,845) |
| Cash acquired in connection with AMB merger | 234,045 | ||
| Acquisition of PEPR, net of cash received | 1,025,251 | ||
| Net cash provided by (used in) investing activities | (233,065) | 733,295 | 1,235,277 |
| Financing activities: | |||
| Issuance of common stock/partnership units, net | 1,156,493 | 1,162,461 | 1,491,137 |
| Distributions paid on common stock | 387,133 | (280,658) | (271,845) |
| Dividends paid on preferred stock | 26,965 | (25,416) | (25,416) |
| Noncontrolling interest distributions | (17,318) | (1,610) | (1,548) |
| Noncontrolling interest contributions | 123,924 | ||
| Debt and equity issuance costs paid | 77,241 | (76,580) | (125,190) |
| Payments on credit facilities, net | (37,558) | (246,280) | (2,400,194) |
| Repurchase of debt | (894,249) | (3,104,476) | (1,226,658) |
| Proceeds from issuance of debt | 1,298,891 | 1,860,299 | 1,448,871 |
| Payments on debt | (975,466) | (257,502) | (351,793) |
| Net cash provided by (used in) financing activities | 163,318 | (969,762) | (1,462,636) |
| Effect of foreign currency exchange rate changes on cash | 1,121 | (1,044) | (2,010) |
| Net increase (decrease) in cash and cash equivalents | 138,438 | 3,272 | (140,274) |
| Cash and cash equivalents, beginning of period | 37,634 | 34,362 | |
| Cash and cash equivalents, end of period | 176,072 | 37,634 | 34,362 |
| Legal Entity | |||
| Prologis, L.P. | |||
| Consolidated net earnings (loss) | (157,938) | (1,270,453) | 23,929 |
| Straight-lined rents | (58,394) | (40,983) | (38,997) |
| Cost of share-based compensation awards | 28,920 | 25,085 | 17,242 |
| Depreciation and amortization | 603,884 | 356,694 | 327,126 |
| Earnings from unconsolidated investees | (59,935) | (23,678) | (28,059) |
| Earnings from unconsolidated investees | (59,935) | (23,678) | (28,861) |
| Changes in operating receivables and distributions from unconsolidated investees | 58,981 | 79,671 | 69,656 |
| Amortization of debt and lease intangibles | 79,538 | 84,755 | |
| Debt consent solicitation expenses | 14,547 | ||
| Non-cash merger expenses | 20,290 | 0 | |
| Impairment of goodwill and other assets | 126,432 | 412,745 | 163,644 |
| Impairment of real estate properties | 736,612 | 331,592 | |
| Net gains on dispositions, net of related impairment charges, included in discontinued operations | (61,830) | (234,574) | (264,779) |
| Gains recognized on property acquisitions and dispositions, net | 111,684 | (28,488) | (35,262) |
| Gains recognized on disposition of investments in Japan property funds | (180,237) | ||
| Loss (gain) on early extinguishment of debt, net | (258) | 201,486 | (172,258) |
| Unrealized foreign currency and derivative losses (gains), net | (38,398) | 11,487 | (58,128) |
| Deferred income tax benefit | (19,803) | (52,223) | (23,287) |
| Decrease (increase) in restricted cash, accounts receivable and other assets | (40,095) | 63,701 | 102,510 |
| Decrease in accounts payable and accrued expenses and other liabilities | (146,911) | (75,837) | (244,085) |
| Net cash provided by operating activities | 207,064 | 240,783 | 89,095 |
| Real estate investments | (1,025,794) | (458,125) | (1,241,836) |
| Tenant improvements and lease commissions on previously leased space | (88,368) | (57,240) | (49,783) |
| Non-development capital expenditures | (55,702) | (28,565) | (26,506) |
| Investments in and net advances to unconsolidated investees | (37,755) | (335,396) | (401,386) |
| Return of investment from unconsolidated investees | 170,158 | 220,195 | 81,216 |
| Proceeds from dispositions of real estate properties | 1,644,152 | 1,642,986 | 1,520,519 |
| Proceeds from dispositions of China operations and Japan property funds | 1,345,468 | ||
| Proceeds from repayment of notes receivable | 6,450 | 18,440 | 12,430 |
| Investments in notes receivable backed by real estate and advances on other notes receivable | (55,000) | (269,000) | (4,845) |
| Cash acquired in connection with AMB merger | 234,045 | ||
| Acquisition of PEPR, net of cash received | (1,025,251) | ||
| Net cash provided by (used in) investing activities | (233,065) | 733,295 | 1,235,277 |
| Issuance of common stock/partnership units, net | 1,156,493 | 1,162,461 | 1,491,137 |
| Distributions paid on common stock | (388,333) | (280,658) | (271,845) |
| Dividends paid on preferred stock | (26,965) | (25,416) | (25,416) |
| Noncontrolling interest distributions | (16,178) | (1,610) | (1,548) |
| Noncontrolling interest contributions | 123,924 | ||
| Debt and equity issuance costs paid | (77,241) | (76,580) | (125,190) |
| Payments on credit facilities, net | (37,558) | (246,280) | (2,400,194) |
| Repurchase of debt | (894,249) | (3,104,476) | (1,226,658) |
| Proceeds from issuance of debt | 1,298,891 | 1,860,299 | 1,448,871 |
| Payments on debt | (975,466) | (257,502) | (351,793) |
| Net cash provided by (used in) financing activities | 163,318 | (969,762) | (1,462,636) |
| Effect of foreign currency exchange rate changes on cash | 1,121 | (1,044) | (2,010) |
| Net increase (decrease) in cash and cash equivalents | 138,438 | 3,272 | (140,274) |
| Cash and cash equivalents, beginning of period | 176,072 | 34,362 | 34,362 |
| Cash and cash equivalents, end of period | 176,072 | 34,362 | 34,362 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
PROLOGIS, INC. | ||
Ticker: PLD Fiscal Year: 2011 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2011 10-K (Filed: Feb 29, 2012) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2011 | Dec 31, 2010 | |
| ASSETS | ||
| Investments in real estate properties | $ 24,787,537 | 12,879,641 |
| Less accumulated depreciation | 2,157,907 | 1,595,678 |
| Net investments in real estate properties | 22,629,630 | 11,283,963 |
| Investments in and advances to unconsolidated investees | 2,857,755 | 2,024,661 |
| Notes receivable backed by real estate | 322,834 | 302,144 |
| Assets held for sale | 444,850 | 574,791 |
| Net investments in real estate | 26,255,069 | 14,185,559 |
| Cash and cash equivalents | 176,072 | 37,634 |
| Restricted cash | 71,992 | 27,081 |
| Accounts receivable | 147,999 | 58,979 |
| Other assets | 1,072,780 | 593,414 |
| Total assets | 27,723,912 | 14,902,667 |
| LIABILITIES AND EQUITY | ||
| Liabilities: | ||
| Debt | 11,382,408 | 6,506,029 |
| Accounts payable and accrued expenses | 639,490 | 388,536 |
| Other liabilities | 1,225,548 | 467,998 |
| Liabilities related to assets held for sale | 20,992 | 19,749 |
| Total liabilities | 13,268,438 | 7,382,312 |
| Equity: | ||
| Prologis, Inc. stockholder' equity: | ||
| Preferred stock | 582,200 | 350,000 |
| Common stock; $0.01 par value; 459,401 shares issued and 458,597 shares outstanding at December 31, 2011 and 254,482 shares issued and outstanding at December 31, 2010 | 4,594 | 2,545 |
| Additional paid-in capital | 16,349,328 | 9,671,560 |
| Accumulated other comprehensive loss | (182,321) | (3,160) |
| Distributions in excess of net earnings | (3,092,162) | (2,515,722) |
| Total Prologis, Inc. stockholders' equity | 13,661,639 | 7,505,223 |
| Noncontrolling interests | 793,835 | 15,132 |
| Total equity | 14,455,474 | 7,520,355 |
| Partners' capital: | ||
| Total liabilities and equity | 27,723,912 | 14,902,667 |
| Legal Entity | ||
| Prologis, L.P. | ||
| Investments in real estate properties | 24,787,537 | 12,879,641 |
| Less accumulated depreciation | 2,157,907 | 1,595,678 |
| Net investments in real estate properties | 22,629,630 | 11,283,963 |
| Investments in and advances to unconsolidated investees | 2,857,755 | 2,024,661 |
| Notes receivable backed by real estate | 322,834 | 302,144 |
| Assets held for sale | 444,850 | 574,791 |
| Net investments in real estate | 26,255,069 | 14,185,559 |
| Cash and cash equivalents | 176,072 | 37,634 |
| Restricted cash | 71,992 | 27,081 |
| Accounts receivable | 147,999 | 58,979 |
| Other assets | 1,072,780 | 593,414 |
| Total assets | 27,723,912 | 14,902,667 |
| Debt | 11,382,408 | 6,506,029 |
| Accounts payable and accrued expenses | 639,490 | 388,536 |
| Other liabilities | 1,225,548 | 467,998 |
| Liabilities related to assets held for sale | 20,992 | 19,749 |
| Total liabilities | 13,268,438 | 7,382,312 |
| Noncontrolling interests | 735,222 | 15,132 |
| Limited partners | 58,613 | 0 |
| Total partners' capital | 13,720,252 | 7,505,223 |
| Total capital | 14,455,474 | 7,520,355 |
| Total liabilities and equity | 27,723,912 | 14,902,667 |
| Statement, Partner Capital Components | ||
| Common | ||
| General partner | 13,079,439 | 7,155,223 |
| Preferred | ||
| General partner | 582,200 | 350,000 |
| External Links | |
| PROLOGIS, INC. (PLD) Fiscal Year 2011 | |
| 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 |