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: 2012 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Revenues: | |||
| Rental income | $ 1,495,202 | 1,030,670 | 549,605 |
| Rental recoveries | 374,022 | 264,202 | 150,500 |
| Private capital revenue | 126,779 | 137,619 | 122,526 |
| Development management and other income | 9,958 | 18,836 | 17,521 |
| Total revenues | 2,005,961 | 1,451,327 | 840,152 |
| Expenses: | |||
| Rental expenses | 505,499 | 358,559 | 199,199 |
| Private capital expenses | 63,820 | 54,962 | 40,659 |
| General and administrative expenses | 228,068 | 195,161 | 165,981 |
| Merger, acquisition and other integration expenses | 80,676 | 140,495 | 0 |
| Impairment of real estate properties | 252,914 | 21,237 | 736,612 |
| Depreciation and amortization | 739,981 | 552,849 | 294,867 |
| Other expenses | 26,556 | 24,031 | 16,355 |
| Total expenses | 1,897,514 | 1,347,294 | 1,453,673 |
| Operating income (loss) | 108,447 | 104,033 | (613,521) |
| Other income (expense): | |||
| Earnings from unconsolidated entities, net | 31,676 | 59,935 | 23,678 |
| Interest expense | (507,484) | (468,072) | (461,166) |
| Impairment of goodwill and other assets | (16,135) | (126,432) | (412,745) |
| Interest and other income, net | 22,878 | 12,008 | 15,847 |
| Gains on acquisitions and dispositions of investments in real estate, net | 305,607 | 111,684 | 28,488 |
| Foreign currency and derivative gains (losses), net | (20,497) | 41,172 | (11,081) |
| Gain (loss) on early extinguishment of debt, net | (14,114) | 258 | (201,486) |
| Total other income (expense) | (198,069) | (369,447) | (1,018,465) |
| Loss before income taxes | (89,622) | (265,414) | (1,631,986) |
| Current income tax expense | 17,870 | 21,579 | 21,724 |
| Deferred income tax benefit | (14,290) | (19,803) | (52,223) |
| Total income tax expense (benefit) | 3,580 | 1,776 | (30,499) |
| Loss from continuing operations | (93,202) | (267,190) | (1,601,487) |
| Discontinued operations: | |||
| Income attributable to disposed properties and assets held for sale | 27,632 | 50,638 | 96,460 |
| Net gains on dispositions, including related impairment charges and taxes | 35,098 | 58,614 | 234,574 |
| Total discontinued operations | 62,730 | 109,252 | 331,034 |
| Consolidated net loss | (30,472) | (157,938) | (1,270,453) |
| Net loss (earnings) attributable to noncontrolling interests | (9,248) | 4,524 | (43) |
| Net loss attributable to controlling interests | (39,720) | (153,414) | (1,270,496) |
| Less preferred stock dividend | 41,226 | 34,696 | 25,424 |
| Net loss attributable to common stockholders | (80,946) | (188,110) | (1,295,920) |
| Weighted average common shares outstanding - Basic | 459,895 | 370,534 | 219,515 |
| Weighted average common shares outstanding - Diluted | 459,895 | 370,534 | 219,515 |
| Net earnings (loss) per share attributable to common stockholders - Basic: | |||
| Continuing operations, Basic | (0.32) | (0.80) | (7.41) |
| Discontinued operations, Basic | 0.14 | 0.29 | 1.51 |
| Net loss per share attributable to common stockholders - Basic | (0.18) | (0.51) | (5.90) |
| Net earnings (loss) per share attributable to common stockholders - Diluted: | |||
| Continuing operations, Diluted | (0.32) | (0.80) | (7.41) |
| Discontinued operations, Diluted | 0.14 | 0.29 | 1.51 |
| Net loss per share attributable to common stockholders - Diluted | (0.18) | (0.51) | (5.90) |
| Dividends per common share | 1.12 | 1.06 | 1.25 |
| Legal Entity | |||
| Prologis, L.P. | |||
| Rental income | 1,495,202 | 1,030,670 | 549,605 |
| Rental recoveries | 374,022 | 264,202 | 150,500 |
| Private capital revenue | 126,779 | 137,619 | 122,526 |
| Development management and other income | 9,958 | 18,836 | 17,521 |
| Total revenues | 2,005,961 | 1,451,327 | 840,152 |
| Rental expenses | 505,499 | 358,559 | 199,199 |
| Private capital expenses | 63,820 | 54,962 | 40,659 |
| General and administrative expenses | 228,068 | 195,161 | 165,981 |
| Merger, acquisition and other integration expenses | 80,676 | 140,495 | 0 |
| Impairment of real estate properties | 252,914 | 21,237 | 736,612 |
| Depreciation and amortization | 739,981 | 552,849 | 294,867 |
| Other expenses | 26,556 | 24,031 | 16,355 |
| Total expenses | 1,897,514 | 1,347,294 | 1,453,673 |
| Operating income (loss) | 108,447 | 104,033 | (613,521) |
| Earnings from unconsolidated entities, net | 31,676 | 59,935 | 23,678 |
| Interest expense | (507,484) | (468,072) | (461,166) |
| Impairment of goodwill and other assets | (16,135) | (126,432) | (412,745) |
| Interest and other income, net | 22,878 | 12,008 | 15,847 |
| Gains on acquisitions and dispositions of investments in real estate, net | 305,607 | 111,684 | 28,488 |
| Foreign currency and derivative gains (losses), net | (20,497) | 41,172 | (11,081) |
| Gain (loss) on early extinguishment of debt, net | (14,114) | 258 | (201,486) |
| Total other income (expense) | (198,069) | (369,447) | (1,018,465) |
| Loss before income taxes | (89,622) | (265,414) | (1,631,986) |
| Current income tax expense | 17,870 | 21,579 | 21,724 |
| Deferred income tax benefit | (14,290) | (19,803) | (52,223) |
| Total income tax expense (benefit) | 3,580 | 1,776 | (30,499) |
| Loss from continuing operations | (93,202) | (267,190) | (1,601,487) |
| Income attributable to disposed properties and assets held for sale | 27,632 | 50,638 | 96,460 |
| Net gains on dispositions, including related impairment charges and taxes | 35,098 | 58,614 | 234,574 |
| Total discontinued operations | 62,730 | 109,252 | 331,034 |
| Consolidated net loss | (30,472) | (157,938) | (1,270,453) |
| Net loss (earnings) attributable to noncontrolling interests | (9,410) | 4,175 | (43) |
| Net loss attributable to controlling interests | (39,882) | (153,763) | (1,270,496) |
| Less preferred stock dividend | 41,226 | 34,696 | 25,424 |
| Net loss attributable to common stockholders | (81,108) | (188,459) | (1,295,920) |
| Weighted average common shares outstanding - Basic | 461,848 | 371,730 | 219,515 |
| Weighted average common shares outstanding - Diluted | 461,848 | 371,730 | 219,515 |
| Continuing operations, Basic | (0.32) | (0.80) | (7.41) |
| Discontinued operations, Basic | 0.14 | 0.29 | 1.51 |
| Net loss per share attributable to common stockholders - Basic | (0.18) | (0.51) | (5.90) |
| Continuing operations, Diluted | (0.32) | (0.80) | (7.41) |
| Discontinued operations, Diluted | 0.14 | 0.29 | 1.51 |
| Net loss per share attributable to common stockholders - Diluted | (0.18) | (0.51) | (5.90) |
| Dividends per common share | 1.12 | 1.06 | 1.25 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PROLOGIS, INC. | |||
Ticker: PLD Fiscal Year: 2012 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Consolidated net loss | $ (30,472) | (157,938) | (1,270,453) |
| Other comprehensive income (loss): | |||
| Foreign currency translation losses, net | (79,014) | (192,591) | (45,248) |
| Unrealized gain (loss) and amortization on derivative contracts, net | 17,986 | (8,166) | (3,143) |
| Comprehensive loss | (91,500) | (358,695) | (1,318,844) |
| Net loss (earnings) attributable to noncontrolling interests | (9,248) | 4,524 | (43) |
| Other comprehensive loss attributable to noncontrolling interest | 9,786 | 21,596 | 2,933 |
| Comprehensive loss attributable to common stockholders | (90,962) | (332,575) | (1,315,954) |
| Legal Entity | |||
| Prologis, L.P. | |||
| Consolidated net loss | (30,472) | (157,938) | (1,270,453) |
| Foreign currency translation losses, net | (79,014) | (192,591) | (45,248) |
| Unrealized gain (loss) and amortization on derivative contracts, net | 17,986 | (8,166) | (3,143) |
| Comprehensive loss | (91,500) | (358,695) | (1,318,844) |
| Net loss (earnings) attributable to noncontrolling interests | (9,410) | 4,175 | (43) |
| Other comprehensive loss attributable to noncontrolling interest | 9,573 | 21,596 | 2,933 |
| Comprehensive loss attributable to common stockholders | (91,337) | (332,924) | (1,315,954) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PROLOGIS, INC. | |||
Ticker: PLD Fiscal Year: 2012 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Operating activities: | |||
| Consolidated net earnings (loss) | $ (30,472) | (157,938) | (1,270,453) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||
| Straight-lined rents | (62,290) | (59,384) | (40,983) |
| Stock-based compensation awards, net | 32,138 | 28,920 | 25,085 |
| Depreciation and amortization | 767,459 | 603,884 | 356,694 |
| Earnings from unconsolidated entities, net | (31,676) | (59,935) | (23,678) |
| Distributions and changes in operating receivables from unconsolidated entities | 6,581 | 58,981 | 79,671 |
| Amortization of debt and lease intangibles | 21,008 | 43,556 | 79,538 |
| Non-cash Merger, acquisition and other integration expenses | 17,581 | 20,290 | |
| Impairment of real estate properties and other assets | 269,049 | 147,669 | 1,149,357 |
| Net gains on dispositions, including related impairment charges, in discontinued operations | (43,008) | (61,830) | (234,574) |
| Gains on acquisitions and dispositions of investments in real estate, net | (305,607) | (111,684) | (28,488) |
| Loss (gain) on early extinguishment of debt, net | 14,114 | (258) | 201,486 |
| Unrealized foreign currency and derivative losses (gains), net | 14,892 | (38,398) | 11,487 |
| Deferred income tax benefit | (21,967) | (19,803) | (52,223) |
| Decrease (increase) in restricted cash, accounts receivable and other assets | (178,387) | (40,095) | 63,701 |
| Decrease in accounts payable and accrued expenses and other liabilities | (5,923) | (146,911) | (75,837) |
| Net cash provided by operating activities | 463,492 | 207,064 | 240,783 |
| Investing activities: | |||
| Real estate development activity | (793,349) | (811,035) | (324,471) |
| Real estate acquisitions | (254,414) | (214,759) | (133,654) |
| Tenant improvements and lease commissions on previously leased space | (133,558) | (88,368) | (57,240) |
| Non-development capital expenditures | (80,612) | (55,702) | (28,565) |
| Investments in and advances to unconsolidated entities, net | (165,011) | (37,755) | (335,396) |
| Return of investment from unconsolidated entities | 291,679 | 170,158 | 220,195 |
| Proceeds from dispositions of real estate properties | 1,975,036 | 1,644,152 | 1,642,986 |
| Proceeds from repayment of notes receivable backed by real estate and other notes receivable | 55,000 | 6,450 | 18,440 |
| Investments in notes receivable backed by real estate and advances on other notes receivable | (55,000) | (269,000) | |
| Cash acquired in connection with the Merger | 234,045 | ||
| Net cash provided by (used in) investing activities | 529,615 | (233,065) | 733,295 |
| Financing activities: | |||
| Proceeds from issuance of common stock, net | 30,981 | 1,156,493 | 1,162,461 |
| Dividends paid on common stock | (520,253) | (387,133) | (280,658) |
| Dividends paid on preferred stock | (47,581) | (26,965) | (25,416) |
| Noncontrolling interest contributions | 70,820 | 123,924 | |
| Noncontrolling interest distributions | (44,070) | (17,378) | (1,610) |
| Purchase of noncontrolling interest | (142,064) | ||
| Debt and equity issuance costs paid | (10,963) | (77,241) | (76,580) |
| Net proceeds from (payments on) Credit Facilities | 9,064 | (37,558) | (246,280) |
| Repurchase of debt | (1,653,989) | (894,249) | (3,104,476) |
| Proceeds from the issuance of debt | 1,433,254 | 1,298,891 | 1,860,299 |
| Payments on debt | (196,710) | (975,466) | (257,502) |
| Net cash provided by (used in) financing activities | (1,071,511) | 163,318 | (969,762) |
| Effect of foreign currency exchange rate changes on cash | 3,142 | 1,121 | (1,044) |
| Net increase (decrease) in cash and cash equivalents | (75,262) | 138,438 | 3,272 |
| Cash and cash equivalents, beginning of year | 176,072 | 37,634 | |
| Cash and cash equivalents, end of year | 100,810 | 176,072 | 37,634 |
| Business Acquisition | |||
| PEPR | |||
| Acquisition, net of cash received | (1,025,251) | ||
| Legal Entity | |||
| Prologis, L.P. | |||
| Acquisition, net of cash received | (1,025,251) | ||
| NAIF II | |||
| Acquisition, net of cash received | (365,156) | ||
| Acquisition, net of cash received | (365,156) | ||
| Legal Entity | |||
| Prologis, L.P. | |||
| Consolidated net earnings (loss) | (30,472) | (157,938) | (1,270,453) |
| Straight-lined rents | (62,290) | (59,384) | (40,983) |
| Stock-based compensation awards, net | 32,138 | 28,920 | 25,085 |
| Depreciation and amortization | 767,459 | 603,884 | 356,694 |
| Earnings from unconsolidated entities, net | (31,676) | (59,935) | (23,678) |
| Distributions and changes in operating receivables from unconsolidated entities | 6,581 | 58,981 | 79,671 |
| Amortization of debt and lease intangibles | 21,008 | 43,556 | 79,538 |
| Non-cash Merger, acquisition and other integration expenses | 17,581 | 20,290 | |
| Impairment of real estate properties and other assets | 269,049 | 147,669 | 1,149,357 |
| Net gains on dispositions, including related impairment charges, in discontinued operations | (43,008) | (61,830) | (234,574) |
| Gains on acquisitions and dispositions of investments in real estate, net | (305,607) | (111,684) | (28,488) |
| Loss (gain) on early extinguishment of debt, net | 14,114 | (258) | 201,486 |
| Unrealized foreign currency and derivative losses (gains), net | 14,892 | (38,398) | 11,487 |
| Deferred income tax benefit | (21,967) | (19,803) | (52,223) |
| Decrease (increase) in restricted cash, accounts receivable and other assets | (178,387) | (40,095) | 63,701 |
| Decrease in accounts payable and accrued expenses and other liabilities | (5,923) | (146,911) | (75,837) |
| Net cash provided by operating activities | 463,492 | 207,064 | 240,783 |
| Real estate development activity | (793,349) | (811,035) | (324,471) |
| Real estate acquisitions | (254,414) | (214,759) | (133,654) |
| Tenant improvements and lease commissions on previously leased space | (133,558) | (88,368) | (57,240) |
| Non-development capital expenditures | (80,612) | (55,702) | (28,565) |
| Investments in and advances to unconsolidated entities, net | (165,011) | (37,755) | (335,396) |
| Return of investment from unconsolidated entities | 291,679 | 170,158 | 220,195 |
| Proceeds from dispositions of real estate properties | 1,975,036 | 1,644,152 | 1,642,986 |
| Proceeds from repayment of notes receivable backed by real estate and other notes receivable | 55,000 | 6,450 | 18,440 |
| Investments in notes receivable backed by real estate and advances on other notes receivable | (55,000) | (269,000) | |
| Cash acquired in connection with the Merger | 234,045 | ||
| Net cash provided by (used in) investing activities | 529,615 | (233,065) | 733,295 |
| Proceeds from issuance of common stock, net | 30,981 | 1,156,493 | 1,162,461 |
| Distributions paid on common partnership units | (528,226) | (388,333) | (280,658) |
| Distributions paid on preferred units | (47,581) | (26,965) | (25,416) |
| Noncontrolling interest contributions | 70,820 | 123,924 | |
| Noncontrolling interest distributions | (41,905) | (16,178) | (1,610) |
| Purchase of noncontrolling interest | (136,256) | ||
| Debt and equity issuance costs paid | (10,963) | (77,241) | (76,580) |
| Net proceeds from (payments on) Credit Facilities | 9,064 | (37,558) | (246,280) |
| Repurchase of debt | (1,653,989) | (894,249) | (3,104,476) |
| Proceeds from the issuance of debt | 1,433,254 | 1,298,891 | 1,860,299 |
| Payments on debt | (196,710) | (975,466) | (257,502) |
| Net cash provided by (used in) financing activities | (1,071,511) | 163,318 | (969,762) |
| Effect of foreign currency exchange rate changes on cash | 3,142 | 1,121 | (1,044) |
| Net increase (decrease) in cash and cash equivalents | (75,262) | 138,438 | 3,272 |
| Cash and cash equivalents, beginning of year | 100,810 | 37,634 | 37,634 |
| Cash and cash equivalents, end of year | 100,810 | 37,634 | 37,634 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
PROLOGIS, INC. | ||
Ticker: PLD Fiscal Year: 2012 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2012 10-K (Filed: Feb 28, 2013) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2012 | Dec 31, 2011 | |
| ASSETS | ||
| Investments in real estate properties | $ 25,809,123 | 24,787,537 |
| Less accumulated depreciation | 2,480,660 | 2,157,907 |
| Net investments in real estate properties | 23,328,463 | 22,629,630 |
| Investments in and advances to unconsolidated entities | 2,195,782 | 2,857,755 |
| Notes receivable backed by real estate | 188,000 | 322,834 |
| Assets held for sale | 26,027 | 444,850 |
| Net investments in real estate | 25,738,272 | 26,255,069 |
| Cash and cash equivalents | 100,810 | 176,072 |
| Restricted cash | 176,926 | 71,992 |
| Accounts receivable | 171,084 | 147,999 |
| Other assets | 1,123,053 | 1,072,780 |
| Total assets | 27,310,145 | 27,723,912 |
| LIABILITIES AND CAPITAL | ||
| Liabilities: | ||
| Debt | 11,790,794 | 11,382,408 |
| Accounts payable and accrued expenses | 611,770 | 639,490 |
| Other liabilities | 1,115,911 | 1,225,548 |
| Liabilities related to assets held for sale | 18,334 | 20,992 |
| Total liabilities | 13,536,809 | 13,268,438 |
| Partners' capital: | ||
| Noncontrolling interests | 704,319 | 793,835 |
| Total liabilities and equity | 27,310,145 | 27,723,912 |
| Equity: | ||
| Prologis, Inc. stockholders' equity: | ||
| Preferred stock | 582,200 | 582,200 |
| Common stock; $0.01 par value; 461,770 shares and 459,401 shares issued and outstanding at December 31, 2012 and December 31, 2011, respectively | 4,618 | 4,594 |
| Additional paid-in capital | 16,411,855 | 16,349,328 |
| Accumulated other comprehensive loss | (233,563) | (182,321) |
| Distributions in excess of net earnings | (3,696,093) | (3,092,162) |
| Total Prologis, Inc. stockholders' equity | 13,069,017 | 13,661,639 |
| Noncontrolling interests | 704,319 | 793,835 |
| Total equity | 13,773,336 | 14,455,474 |
| Total liabilities and equity | 27,310,145 | 27,723,912 |
| Legal Entity | ||
| Prologis, L.P. | ||
| Partner Capital Components | ||
| Common | ||
| General partner | 12,486,817 | 13,079,439 |
| Preferred | ||
| General partner | 582,200 | 582,200 |
| Investments in real estate properties | 25,809,123 | 24,787,537 |
| Less accumulated depreciation | 2,480,660 | 2,157,907 |
| Net investments in real estate properties | 23,328,463 | 22,629,630 |
| Investments in and advances to unconsolidated entities | 2,195,782 | 2,857,755 |
| Notes receivable backed by real estate | 188,000 | 322,834 |
| Assets held for sale | 26,027 | 444,850 |
| Net investments in real estate | 25,738,272 | 26,255,069 |
| Cash and cash equivalents | 100,810 | 176,072 |
| Restricted cash | 176,926 | 71,992 |
| Accounts receivable | 171,084 | 147,999 |
| Other assets | 1,123,053 | 1,072,780 |
| Total assets | 27,310,145 | 27,723,912 |
| Debt | 11,790,794 | 11,382,408 |
| Accounts payable and accrued expenses | 611,770 | 639,490 |
| Other liabilities | 1,115,911 | 1,225,548 |
| Liabilities related to assets held for sale | 18,334 | 20,992 |
| Total liabilities | 13,536,809 | 13,268,438 |
| Limited partners | 51,194 | 58,613 |
| Total partners' capital | 13,120,211 | 13,720,252 |
| Noncontrolling interests | 653,125 | 735,222 |
| Total capital | 13,773,336 | 14,455,474 |
| Total liabilities and equity | 27,310,145 | 27,723,912 |
| Noncontrolling interests | 653,125 | 735,222 |
| Total liabilities and equity | 27,310,145 | 27,723,912 |
| External Links | |
| PROLOGIS, INC. (PLD) Fiscal Year 2012 | |
| 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 |