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: 2013 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 26, 2014) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Revenues: | |||
| Rental income | $ 1,227,975 | 1,459,461 | 1,007,989 |
| Rental recoveries | 331,518 | 364,320 | 257,327 |
| Investment management income | 179,472 | 126,779 | 137,619 |
| Development management and other income | 11,521 | 9,958 | 18,836 |
| Total revenues | 1,750,486 | 1,960,518 | 1,421,771 |
| Expenses: | |||
| Rental expenses | 451,938 | 491,239 | 348,688 |
| Investment management expenses | 89,279 | 63,820 | 54,962 |
| General and administrative expenses | 229,207 | 228,068 | 195,161 |
| Depreciation and amortization | 648,668 | 724,262 | 542,419 |
| Other expenses | 26,982 | 26,556 | 24,031 |
| Merger, acquisition and other integration expenses | 80,676 | 140,495 | |
| Impairment of real estate properties | 252,914 | 21,237 | |
| Total expenses | 1,446,074 | 1,867,535 | 1,326,993 |
| Operating income | 304,412 | 92,983 | 94,778 |
| Other income (expense): | |||
| Earnings from unconsolidated entities, net | 97,220 | 31,676 | 59,935 |
| Interest expense | (379,327) | (505,215) | (466,571) |
| Interest and other income, net | 26,948 | 22,878 | 12,008 |
| Gains on acquisitions and dispositions of investments in real estate, net | 597,656 | 305,607 | 111,684 |
| Foreign currency and derivative gains (losses), net | (33,633) | (20,497) | 41,172 |
| Gain (loss) on early extinguishment of debt, net | (277,014) | (14,114) | 258 |
| Impairment of goodwill and other assets | (16,135) | (126,432) | |
| Total other income (expense) | 31,850 | (195,800) | (367,946) |
| Earnings (loss) before income taxes | 336,262 | (102,817) | (273,168) |
| Current income tax expense | 126,180 | 17,870 | 21,579 |
| Deferred income tax benefit | (19,447) | (14,290) | (19,803) |
| Total income tax expense (benefit) | 106,733 | 3,580 | 1,776 |
| Earnings (loss) from continuing operations | 229,529 | (106,397) | (274,944) |
| Discontinued operations: | |||
| Income attributable to disposed properties and assets held for sale | 6,970 | 40,827 | 58,392 |
| Net gains on dispositions, including related impairment charges and taxes | 116,550 | 35,098 | 58,614 |
| Total discontinued operations | 123,520 | 75,925 | 117,006 |
| Consolidated net earnings (loss) | 353,049 | (30,472) | (157,938) |
| Net loss (earnings) attributable to noncontrolling interests | (10,128) | (9,248) | 4,524 |
| Net earnings (loss) attributable to controlling interests | 342,921 | (39,720) | (153,414) |
| Less preferred stock dividend | 18,391 | 41,226 | 34,696 |
| Loss on preferred stock redemption | 9,108 | ||
| Net earnings (loss) attributable to common stockholders | 315,422 | (80,946) | (188,110) |
| Weighted average common shares outstanding-Basic | 486,076 | 459,895 | 370,534 |
| Weighted average common shares outstanding-Diluted | 491,546 | 461,848 | 371,730 |
| Net earnings (loss) per share attributable to common stockholders-Basic: | |||
| Continuing operations | 0.40 | (0.35) | (0.83) |
| Discontinued operations | 0.25 | 0.17 | 0.32 |
| Net earning (loss) per share attributable to common stockholders-Basic | 0.65 | (0.18) | (0.51) |
| Net earnings (loss) per share attributable to common stockholders-Diluted: | |||
| Continuing operations | 0.39 | (0.34) | (0.82) |
| Discontinued operations | 0.25 | 0.16 | 0.31 |
| Net eanrings (loss) per share attributable to common stockholders-Diluted | 0.64 | (0.18) | (0.51) |
| Dividends per common share | 1.12 | 1.12 | 1.06 |
| Legal Entity | |||
| Prologis, L.P. | |||
| Rental income | 1,227,975 | 1,459,461 | 1,007,989 |
| Rental recoveries | 331,518 | 364,320 | 257,327 |
| Investment management income | 179,472 | 126,779 | 137,619 |
| Development management and other income | 11,521 | 9,958 | 18,836 |
| Total revenues | 1,750,486 | 1,960,518 | 1,421,771 |
| Rental expenses | 451,938 | 491,239 | 348,688 |
| Investment management expenses | 89,279 | 63,820 | 54,962 |
| General and administrative expenses | 229,207 | 228,068 | 195,161 |
| Depreciation and amortization | 648,668 | 724,262 | 542,419 |
| Other expenses | 26,982 | 26,556 | 24,031 |
| Merger, acquisition and other integration expenses | 80,676 | 140,495 | |
| Impairment of real estate properties | 252,914 | 21,237 | |
| Total expenses | 1,446,074 | 1,867,535 | 1,326,993 |
| Operating income | 304,412 | 92,983 | 94,778 |
| Earnings from unconsolidated entities, net | 97,220 | 31,676 | 59,935 |
| Interest expense | (379,327) | (505,215) | (466,571) |
| Interest and other income, net | 26,948 | 22,878 | 12,008 |
| Gains on acquisitions and dispositions of investments in real estate, net | 597,656 | 305,607 | 111,684 |
| Foreign currency and derivative gains (losses), net | (33,633) | (20,497) | 41,172 |
| Gain (loss) on early extinguishment of debt, net | (277,014) | (14,114) | 258 |
| Impairment of goodwill and other assets | (16,135) | (126,432) | |
| Total other income (expense) | 31,850 | (195,800) | (367,946) |
| Earnings (loss) before income taxes | 336,262 | (102,817) | (273,168) |
| Current income tax expense | 126,180 | 17,870 | 21,579 |
| Deferred income tax benefit | (19,447) | (14,290) | (19,803) |
| Total income tax expense (benefit) | 106,733 | 3,580 | 1,776 |
| Earnings (loss) from continuing operations | 229,529 | (106,397) | (274,944) |
| Income attributable to disposed properties and assets held for sale | 6,970 | 40,827 | 58,392 |
| Net gains on dispositions, including related impairment charges and taxes | 116,550 | 35,098 | 58,614 |
| Total discontinued operations | 123,520 | 75,925 | 117,006 |
| Consolidated net earnings (loss) | 353,049 | (30,472) | (157,938) |
| Net loss (earnings) attributable to noncontrolling interests | (8,920) | (9,410) | 4,175 |
| Net earnings (loss) attributable to controlling interests | 344,129 | (39,882) | (153,763) |
| Less preferred stock dividend | 18,391 | 41,226 | 34,696 |
| Loss on preferred stock redemption | 9,108 | ||
| Net earnings (loss) attributable to common stockholders | 316,630 | (81,108) | (188,459) |
| Weighted average common shares outstanding-Basic | 487,936 | 461,848 | 371,730 |
| Weighted average common shares outstanding-Diluted | 491,546 | 461,848 | 371,730 |
| Continuing operations | 0.40 | (0.34) | (0.82) |
| Discontinued operations | 0.25 | 0.16 | 0.31 |
| Net earning (loss) per share attributable to common stockholders-Basic | 0.65 | (0.18) | (0.51) |
| Continuing operations | 0.39 | (0.34) | (0.82) |
| Discontinued operations | 0.25 | 0.16 | 0.31 |
| Net eanrings (loss) per share attributable to common stockholders-Diluted | 0.64 | (0.18) | (0.51) |
| Dividends per common share | 1.12 | 1.12 | 1.06 |
| External Links | |
| PROLOGIS, INC. (PLD) Fiscal Year 2013 | |
| 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 |