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: 2014 | |||
Consolidated Statements of Operations | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 25, 2015) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Revenues: | |||
| Rental income | $ 1,178,609 | 1,227,975 | 1,459,461 |
| Rental recoveries | 348,740 | 331,518 | 364,320 |
| Strategic capital income | 219,871 | 179,472 | 126,779 |
| Development management and other income | 13,567 | 11,521 | 9,958 |
| Total revenues | 1,760,787 | 1,750,486 | 1,960,518 |
| Expenses: | |||
| Rental expenses | 430,787 | 451,938 | 491,239 |
| Strategic capital expenses | 96,496 | 89,279 | 63,820 |
| General and administrative expenses | 247,768 | 229,207 | 228,068 |
| Depreciation and amortization | 642,461 | 648,668 | 724,262 |
| Other expenses | 23,467 | 26,982 | 26,556 |
| Merger, acquisition and other integration expenses | 80,676 | ||
| Impairment of real estate properties | 252,914 | ||
| Total expenses | 1,440,979 | 1,446,074 | 1,867,535 |
| Operating income | 319,808 | 304,412 | 92,983 |
| Other income (expense): | |||
| Earnings from unconsolidated entities, net | 134,288 | 97,220 | 31,676 |
| Interest expense | (308,885) | (379,327) | (505,215) |
| Interest and other income, net | 25,768 | 26,948 | 22,878 |
| Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net | 725,790 | 597,656 | 305,607 |
| Foreign currency and derivative losses and related amortization, net | (17,841) | (33,633) | (20,497) |
| Losses on early extinguishment of debt, net | (165,300) | (277,014) | (14,114) |
| Impairment of other assets | (16,135) | ||
| Total other income (expense) | 393,820 | 31,850 | (195,800) |
| Earnings (loss) before income taxes | 713,628 | 336,262 | (102,817) |
| Current income tax expense | (61,584) | (126,180) | (17,870) |
| Deferred income tax benefit | 87,240 | 19,447 | 14,290 |
| Total income tax benefit (expense) | 25,656 | (106,733) | (3,580) |
| Earnings (loss) from continuing operations | 739,284 | 229,529 | (106,397) |
| Discontinued operations: | |||
| Income attributable to disposed properties and assets held for sale | 6,970 | 40,827 | |
| Net gains on dispositions, including related impairment charges and taxes | 116,550 | 35,098 | |
| Total discontinued operations | 123,520 | 75,925 | |
| Consolidated net earnings (loss) | 739,284 | 353,049 | (30,472) |
| Net earnings attributable to noncontrolling interests | (103,101) | (10,128) | (9,248) |
| Net earnings (loss) attributable to controlling interests | 636,183 | 342,921 | (39,720) |
| Less preferred stock dividends | 7,431 | 18,391 | 41,226 |
| Loss on preferred stock redemption / repurchase | 6,517 | 9,108 | |
| Net earnings (loss) attributable to common stockholders | 622,235 | 315,422 | (80,946) |
| Weighted average common shares outstanding - Basic | 499,583 | 486,076 | 459,895 |
| Weighted average common shares outstanding - Diluted | 506,391 | 491,546 | 461,848 |
| Net earnings (loss) per share attributable to common stockholders - Basic: | |||
| Continuing operations | 1.25 | 0.40 | (0.35) |
| Discontinued operations | 0.25 | 0.17 | |
| Net earnings (loss) per share attributable to common stockholders - Basic | 1.25 | 0.65 | (0.18) |
| Net earnings (loss) per share attributable to common stockholders - Diluted: | |||
| Continuing operations | 1.24 | 0.39 | (0.34) |
| Discontinued operations | 0.25 | 0.16 | |
| Net earnings (loss) per share attributable to common stockholders - Diluted | 1.24 | 0.64 | (0.18) |
| Dividends per common share | 1.32 | 1.12 | 1.12 |
| Partner Type | |||
| Prologis, L.P. | |||
| Rental income | 1,178,609 | 1,227,975 | 1,459,461 |
| Rental recoveries | 348,740 | 331,518 | 364,320 |
| Strategic capital income | 219,871 | 179,472 | 126,779 |
| Development management and other income | 13,567 | 11,521 | 9,958 |
| Total revenues | 1,760,787 | 1,750,486 | 1,960,518 |
| Rental expenses | 430,787 | 451,938 | 491,239 |
| Strategic capital expenses | 96,496 | 89,279 | 63,820 |
| General and administrative expenses | 247,768 | 229,207 | 228,068 |
| Depreciation and amortization | 642,461 | 648,668 | 724,262 |
| Other expenses | 23,467 | 26,982 | 26,556 |
| Merger, acquisition and other integration expenses | 80,676 | ||
| Impairment of real estate properties | 252,914 | ||
| Total expenses | 1,440,979 | 1,446,074 | 1,867,535 |
| Operating income | 319,808 | 304,412 | 92,983 |
| Earnings from unconsolidated entities, net | 134,288 | 97,220 | 31,676 |
| Interest expense | (308,885) | (379,327) | (505,215) |
| Interest and other income, net | 25,768 | 26,948 | 22,878 |
| Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net | 725,790 | 597,656 | 305,607 |
| Foreign currency and derivative losses and related amortization, net | (17,841) | (33,633) | (20,497) |
| Losses on early extinguishment of debt, net | (165,300) | (277,014) | (14,114) |
| Impairment of other assets | (16,135) | ||
| Total other income (expense) | 393,820 | 31,850 | (195,800) |
| Earnings (loss) before income taxes | 713,628 | 336,262 | (102,817) |
| Current income tax expense | (61,584) | (126,180) | (17,870) |
| Deferred income tax benefit | 87,240 | 19,447 | 14,290 |
| Total income tax benefit (expense) | 25,656 | (106,733) | (3,580) |
| Earnings (loss) from continuing operations | 739,284 | 229,529 | (106,397) |
| Income attributable to disposed properties and assets held for sale | 6,970 | 40,827 | |
| Net gains on dispositions, including related impairment charges and taxes | 116,550 | 35,098 | |
| Total discontinued operations | 123,520 | 75,925 | |
| Consolidated net earnings (loss) | 739,284 | 353,049 | (30,472) |
| Net earnings attributable to noncontrolling interests | (100,900) | (8,920) | (9,410) |
| Net earnings (loss) attributable to controlling interests | 638,384 | 344,129 | (39,882) |
| Less preferred stock dividends | 7,431 | 18,391 | 41,226 |
| Loss on preferred stock redemption / repurchase | 6,517 | 9,108 | |
| Net earnings (loss) attributable to common stockholders | 624,436 | 316,630 | (81,108) |
| Weighted average common shares outstanding - Basic | 501,349 | 487,936 | 461,848 |
| Weighted average common shares outstanding - Diluted | 506,391 | 491,546 | 461,848 |
| Continuing operations | 1.25 | 0.40 | (0.34) |
| Discontinued operations | 0.25 | 0.16 | |
| Net earnings (loss) per share attributable to common stockholders - Basic | 1.25 | 0.65 | (0.18) |
| Continuing operations | 1.24 | 0.39 | (0.34) |
| Discontinued operations | 0.25 | 0.16 | |
| Net earnings (loss) per share attributable to common stockholders - Diluted | 1.24 | 0.64 | (0.18) |
| Dividends per common share | 1.32 | 1.12 | 1.12 |
| External Links | |
| PROLOGIS, INC. (PLD) Fiscal Year 2014 | |
| 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 |