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: 2017 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 15, 2018) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Revenues: | |||
| Rental | $ 1,737,839 | 1,734,844 | 1,536,117 |
| Rental recoveries | 487,302 | 485,565 | 437,070 |
| Strategic capital | 373,889 | 303,562 | 217,829 |
| Development management and other | 19,104 | 9,164 | 6,058 |
| Total revenues | 2,618,134 | 2,533,135 | 2,197,074 |
| Expenses: | |||
| Rental | 569,523 | 568,870 | 544,182 |
| Strategic capital | 155,141 | 128,506 | 108,422 |
| General and administrative | 231,059 | 222,067 | 217,227 |
| Depreciation and amortization | 879,140 | 930,985 | 880,373 |
| Other | 12,205 | 14,329 | 66,698 |
| Total expenses | 1,847,068 | 1,864,757 | 1,816,902 |
| Operating income | 771,066 | 668,378 | 380,172 |
| Other income (expense): | |||
| Earnings from unconsolidated entities, net | 248,567 | 206,307 | 159,262 |
| Interest expense | (274,486) | (303,146) | (301,363) |
| Interest and other income, net | 13,731 | 8,101 | 25,484 |
| Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net | 1,182,965 | 757,398 | 758,887 |
| Foreign currency and derivative gains (losses), net | (57,896) | 7,582 | 12,466 |
| Gains (losses) on early extinguishment of debt, net | (68,379) | 2,484 | (86,303) |
| Total other income | 1,044,502 | 678,726 | 568,433 |
| Earnings before income taxes | 1,815,568 | 1,347,104 | 948,605 |
| Total income tax expense | 54,609 | 54,564 | 23,090 |
| Consolidated net earnings | 1,760,959 | 1,292,540 | 925,515 |
| Less net earnings attributable to noncontrolling interests | 108,634 | 82,608 | 56,076 |
| Net earnings attributable to controlling interests | 1,652,325 | 1,209,932 | 869,439 |
| Less preferred stock/unit dividends/distributions | 6,499 | 6,714 | 6,651 |
| Loss on preferred stock/unit repurchase | 3,895 | 0 | 0 |
| Net earnings attributable to common stockholders/unitholders | 1,641,931 | 1,203,218 | 862,788 |
| Weighted average common shares/units outstanding Basic | 530,400 | 526,103 | 521,241 |
| Weighted average common shares/units outstanding - Diluted | 552,300 | 546,666 | 533,944 |
| Net earnings per share attributable to common stockholders/unitholders - Basic | 3.10 | 2.29 | 1.66 |
| Net earnings per share attributable to common stockholders/unitholders - Diluted | 3.06 | 2.27 | 1.64 |
| Dividends/distributions per common share/unit | 1.76 | 1.68 | 1.52 |
| Consolidated Entities | |||
| Prologis, L.P. | |||
| Rental | 1,737,839 | 1,734,844 | 1,536,117 |
| Rental recoveries | 487,302 | 485,565 | 437,070 |
| Strategic capital | 373,889 | 303,562 | 217,829 |
| Development management and other | 19,104 | 9,164 | 6,058 |
| Total revenues | 2,618,134 | 2,533,135 | 2,197,074 |
| Rental | 569,523 | 568,870 | 544,182 |
| Strategic capital | 155,141 | 128,506 | 108,422 |
| General and administrative | 231,059 | 222,067 | 217,227 |
| Depreciation and amortization | 879,140 | 930,985 | 880,373 |
| Other | 12,205 | 14,329 | 66,698 |
| Total expenses | 1,847,068 | 1,864,757 | 1,816,902 |
| Operating income | 771,066 | 668,378 | 380,172 |
| Earnings from unconsolidated entities, net | 248,567 | 206,307 | 159,262 |
| Interest expense | (274,486) | (303,146) | (301,363) |
| Interest and other income, net | 13,731 | 8,101 | 25,484 |
| Gains on dispositions of investments in real estate and revaluation of equity investments upon acquisition of a controlling interest, net | 1,182,965 | 757,398 | 758,887 |
| Foreign currency and derivative gains (losses), net | (57,896) | 7,582 | 12,466 |
| Gains (losses) on early extinguishment of debt, net | (68,379) | 2,484 | (86,303) |
| Total other income | 1,044,502 | 678,726 | 568,433 |
| Earnings before income taxes | 1,815,568 | 1,347,104 | 948,605 |
| Total income tax expense | 54,609 | 54,564 | 23,090 |
| Consolidated net earnings | 1,760,959 | 1,292,540 | 925,515 |
| Less net earnings attributable to noncontrolling interests | 63,620 | 48,307 | 44,950 |
| Net earnings attributable to controlling interests | 1,697,339 | 1,244,233 | 880,565 |
| Less preferred stock/unit dividends/distributions | 6,499 | 6,714 | 6,651 |
| Loss on preferred stock/unit repurchase | 3,895 | 0 | 0 |
| Net earnings attributable to common stockholders/unitholders | 1,686,945 | 1,237,519 | 873,914 |
| Weighted average common shares/units outstanding Basic | 536,335 | 532,326 | 525,912 |
| Weighted average common shares/units outstanding - Diluted | 552,300 | 546,666 | 533,944 |
| Net earnings per share attributable to common stockholders/unitholders - Basic | 3.10 | 2.29 | 1.66 |
| Net earnings per share attributable to common stockholders/unitholders - Diluted | 3.06 | 2.27 | 1.64 |
| Dividends/distributions per common share/unit | 1.76 | 1.68 | 1.52 |
| External Links | |
| PROLOGIS, INC. (PLD) Fiscal Year 2017 | |
| 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 |