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: 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 |
| 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 |