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: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 9, 2022) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Operating activities: | |||
| Consolidated net earnings | $ 3,148,590 | 1,616,630 | 1,701,846 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
| Straight-lined rents and amortization of above and below market leases | (148,239) | (126,328) | (98,426) |
| Equity-based compensation awards | 113,028 | 109,831 | 97,557 |
| Depreciation and amortization | 1,577,942 | 1,561,969 | 1,139,879 |
| Earnings from unconsolidated entities, net | (404,255) | (297,370) | (200,178) |
| Operating distributions from unconsolidated entities | 440,034 | 450,622 | 346,517 |
| Decrease (increase) in operating receivables from unconsolidated entities | (14,223) | 14,670 | 11,557 |
| Amortization of debt discounts and debt issuance costs, net | 8,656 | 7,859 | 17,006 |
| Gains on dispositions of development properties and land, net | (817,017) | (464,942) | (467,577) |
| Gains on other dispositions of investments in real estate, net | (772,570) | (252,195) | (390,241) |
| Unrealized foreign currency and derivative losses (gains), net | (173,026) | 160,739 | 70,693 |
| Losses on early extinguishment of debt, net | 187,453 | 188,290 | 16,126 |
| Deferred income tax expense | 1,322 | 744 | 12,221 |
| Increase in accounts receivable and other assets | (328,511) | (127,619) | (108,165) |
| Increase in accounts payable and accrued expenses and other liabilities | 176,858 | 94,105 | 115,219 |
| Net cash provided by operating activities | 2,996,042 | 2,937,005 | 2,264,034 |
| Investing activities: | |||
| Real estate development | (2,639,872) | (1,920,218) | (1,795,137) |
| Real estate acquisitions | (2,320,448) | (1,239,034) | (1,006,043) |
| Tenant improvements and lease commissions on previously leased space | (329,059) | (221,491) | (179,274) |
| Property improvements | (169,933) | (149,491) | (143,029) |
| Proceeds from dispositions and contributions of real estate | 4,222,290 | 2,281,940 | 2,331,623 |
| Investments in and advances to unconsolidated entities | (798,103) | (385,936) | (276,169) |
| Return of investment from unconsolidated entities | 58,275 | 257,065 | 389,463 |
| Proceeds from repayment of notes receivable backed by real estate | 0 | 4,312 | 0 |
| Proceeds from the settlement of net investment hedges | 3,305 | 2,352 | 23,640 |
| Payments on the settlement of net investment hedges | (16,513) | (9,034) | (30,424) |
| Net cash used in investing activities | (1,990,058) | (3,074,330) | (685,350) |
| Financing activities: | |||
| Proceeds from issuance of common stock/units | 743 | 2,217 | 6,082 |
| Repurchase and retirement of common stock | 0 | (34,829) | 0 |
| Repurchase of preferred stock | 0 | (7,200) | 0 |
| Dividends/distributions paid on common and preferred stock/units | (1,872,861) | (1,722,989) | (1,345,660) |
| Noncontrolling interests contributions | 74,404 | 917,092 | 11,604 |
| Noncontrolling interests distributions | (375,054) | (361,636) | (164,419) |
| Settlement of noncontrolling interests | (153,236) | (116,978) | (109,811) |
| Tax paid with shares withheld | (19,855) | (24,887) | (22,434) |
| Debt and equity issuance costs paid | (23,318) | (54,204) | (17,656) |
| Net proceeds from (payments on) credit facilities | 323,336 | (10,959) | 127,566 |
| Repurchase of and payments on debt | (2,560,174) | (6,782,306) | (3,301,827) |
| Proceeds from the issuance of debt | 3,597,690 | 7,824,517 | 3,976,956 |
| Net cash used in financing activities | (1,008,325) | (372,162) | (839,599) |
| Net cash used in financing activities | (1,008,325) | (372,162) | (839,599) |
| Effect of foreign currency exchange rate changes on cash | (39,628) | 18,718 | 5,914 |
| Net increase (decrease) in cash and cash equivalents | (41,969) | (490,769) | 744,999 |
| Cash and cash equivalents, beginning of year | 598,086 | 1,088,855 | |
| Cash and cash equivalents, end of year | 556,117 | 598,086 | 1,088,855 |
| Business Acquisition | |||
| Liberty Transaction | |||
| Consolidated Entities | |||
| Prologis, L.P. | |||
| Transaction, net of cash acquired | 0 | (29,436) | 0 |
| Transaction, net of cash acquired | 0 | (29,436) | 0 |
| IPT Transaction | |||
| Transaction, net of cash acquired | 0 | (1,665,359) | 0 |
| Transaction, net of cash acquired | 0 | (1,665,359) | 0 |
| Consolidated Entities | |||
| Prologis, L.P. | |||
| Consolidated net earnings | 3,148,590 | 1,616,630 | 1,701,846 |
| Straight-lined rents and amortization of above and below market leases | (148,239) | (126,328) | (98,426) |
| Equity-based compensation awards | 113,028 | 109,831 | 97,557 |
| Depreciation and amortization | 1,577,942 | 1,561,969 | 1,139,879 |
| Earnings from unconsolidated entities, net | (404,255) | (297,370) | (200,178) |
| Operating distributions from unconsolidated entities | 440,034 | 450,622 | 346,517 |
| Decrease (increase) in operating receivables from unconsolidated entities | (14,223) | 14,670 | 11,557 |
| Amortization of debt discounts and debt issuance costs, net | 8,656 | 7,859 | 17,006 |
| Gains on dispositions of development properties and land, net | (817,017) | (464,942) | (467,577) |
| Gains on other dispositions of investments in real estate, net | (772,570) | (252,195) | (390,241) |
| Unrealized foreign currency and derivative losses (gains), net | (173,026) | 160,739 | 70,693 |
| Losses on early extinguishment of debt, net | 187,453 | 188,290 | 16,126 |
| Deferred income tax expense | 1,322 | 744 | 12,221 |
| Increase in accounts receivable and other assets | (328,511) | (127,619) | (108,165) |
| Increase in accounts payable and accrued expenses and other liabilities | 176,858 | 94,105 | 115,219 |
| Net cash provided by operating activities | 2,996,042 | 2,937,005 | 2,264,034 |
| Real estate development | (2,639,872) | (1,920,218) | (1,795,137) |
| Real estate acquisitions | (2,320,448) | (1,239,034) | (1,006,043) |
| Tenant improvements and lease commissions on previously leased space | (329,059) | (221,491) | (179,274) |
| Property improvements | (169,933) | (149,491) | (143,029) |
| Proceeds from dispositions and contributions of real estate | 4,222,290 | 2,281,940 | 2,331,623 |
| Investments in and advances to unconsolidated entities | (798,103) | (385,936) | (276,169) |
| Return of investment from unconsolidated entities | 58,275 | 257,065 | 389,463 |
| Proceeds from repayment of notes receivable backed by real estate | 0 | 4,312 | 0 |
| Proceeds from the settlement of net investment hedges | 3,305 | 2,352 | 23,640 |
| Payments on the settlement of net investment hedges | (16,513) | (9,034) | (30,424) |
| Net cash used in investing activities | (1,990,058) | (3,074,330) | (685,350) |
| Proceeds from issuance of common stock/units | 743 | 2,217 | 6,082 |
| Repurchase and retirement of common stock | 0 | (34,829) | 0 |
| Repurchase of preferred stock | 0 | (7,200) | 0 |
| Dividends/distributions paid on common and preferred stock/units | (1,935,381) | (1,781,482) | (1,396,051) |
| Noncontrolling interests contributions | 74,404 | 917,092 | 11,604 |
| Noncontrolling interests distributions | (312,534) | (303,143) | (114,028) |
| Settlement of noncontrolling interests | 0 | 0 | (22,471) |
| Redemption of common limited partnership units | 153,236 | 116,978 | 87,340 |
| Tax paid for shares of the Parent withheld | (19,855) | (24,887) | (22,434) |
| Debt and equity issuance costs paid | (23,318) | (54,204) | (17,656) |
| Net proceeds from (payments on) credit facilities | 323,336 | (10,959) | 127,566 |
| Repurchase of and payments on debt | (2,560,174) | (6,782,306) | (3,301,827) |
| Proceeds from the issuance of debt | 3,597,690 | 7,824,517 | 3,976,956 |
| Redemption of common limited partnership units | (153,236) | (116,978) | (87,340) |
| Net cash used in financing activities | (1,008,325) | (372,162) | (839,599) |
| Net cash used in financing activities | (1,008,325) | (372,162) | (839,599) |
| Effect of foreign currency exchange rate changes on cash | (39,628) | 18,718 | 5,914 |
| Net increase (decrease) in cash and cash equivalents | (41,969) | (490,769) | 744,999 |
| Cash and cash equivalents, beginning of year | 556,117 | 1,088,855 | 1,088,855 |
| Cash and cash equivalents, end of year | 556,117 | 1,088,855 | 1,088,855 |
| External Links | |
| PROLOGIS, INC. (PLD) Fiscal Year 2021 | |
| 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 |