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: 2018 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 13, 2019) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Revenues: | |||
| Rental | $ 1,858,889 | 1,737,839 | 1,734,844 |
| Rental recoveries | 529,902 | 487,302 | 485,565 |
| Strategic capital | 406,300 | 373,889 | 303,562 |
| Development management and other | 9,358 | 19,104 | 9,164 |
| Total revenues | 2,804,449 | 2,618,134 | 2,533,135 |
| Expenses: | |||
| Rental | 600,648 | 569,523 | 568,870 |
| Strategic capital | 157,040 | 155,141 | 128,506 |
| General and administrative | 238,985 | 231,059 | 222,067 |
| Depreciation and amortization | 947,214 | 879,140 | 930,985 |
| Other | 13,560 | 12,205 | 14,329 |
| Total expenses | 1,957,447 | 1,847,068 | 1,864,757 |
| Operating income | 847,002 | 771,066 | 668,378 |
| Other income (expense): | |||
| Earnings from unconsolidated entities, net | 298,260 | 248,567 | 206,307 |
| Interest expense | (229,141) | (274,486) | (303,146) |
| Interest and other income, net | 14,663 | 13,731 | 8,101 |
| Gains on real estate transactions, net | 840,996 | 1,182,965 | 757,398 |
| Foreign currency and derivative gains (losses), net | 117,096 | (57,896) | 7,582 |
| Gains (losses) on early extinguishment of debt, net | (2,586) | (68,379) | 2,484 |
| Total other income | 1,039,288 | 1,044,502 | 678,726 |
| Earnings before income taxes | 1,886,290 | 1,815,568 | 1,347,104 |
| Total income tax expense | 63,330 | 54,609 | 54,564 |
| Consolidated net earnings | 1,822,960 | 1,760,959 | 1,292,540 |
| Less net earnings attributable to noncontrolling interests | 173,599 | 108,634 | 82,608 |
| Net earnings attributable to controlling interests | 1,649,361 | 1,652,325 | 1,209,932 |
| Less preferred stock/unit dividends/distributions | 5,935 | 6,499 | 6,714 |
| Loss on preferred stock/unit repurchase | 0 | 3,895 | 0 |
| Net earnings attributable to common stockholders/unitholders | 1,643,426 | 1,641,931 | 1,203,218 |
| Weighted average common shares/units outstanding - Basic | 567,367 | 530,400 | 526,103 |
| Weighted average common shares/units outstanding - Diluted | 590,239 | 552,300 | 546,666 |
| Net earnings per share attributable to common stockholders/unitholders - Basic | 2.90 | 3.10 | 2.29 |
| Net earnings per share attributable to common stockholders/unitholders - Diluted | 2.87 | 3.06 | 2.27 |
| Dividends or distributions per common share or unit | 1.92 | 1.76 | 1.68 |
| Consolidated Entities | |||
| Prologis, L.P. | |||
| Rental | 1,858,889 | 1,737,839 | 1,734,844 |
| Rental recoveries | 529,902 | 487,302 | 485,565 |
| Strategic capital | 406,300 | 373,889 | 303,562 |
| Development management and other | 9,358 | 19,104 | 9,164 |
| Total revenues | 2,804,449 | 2,618,134 | 2,533,135 |
| Rental | 600,648 | 569,523 | 568,870 |
| Strategic capital | 157,040 | 155,141 | 128,506 |
| General and administrative | 238,985 | 231,059 | 222,067 |
| Depreciation and amortization | 947,214 | 879,140 | 930,985 |
| Other | 13,560 | 12,205 | 14,329 |
| Total expenses | 1,957,447 | 1,847,068 | 1,864,757 |
| Operating income | 847,002 | 771,066 | 668,378 |
| Earnings from unconsolidated entities, net | 298,260 | 248,567 | 206,307 |
| Interest expense | (229,141) | (274,486) | (303,146) |
| Interest and other income, net | 14,663 | 13,731 | 8,101 |
| Gains on real estate transactions, net | 840,996 | 1,182,965 | 757,398 |
| Foreign currency and derivative gains (losses), net | 117,096 | (57,896) | 7,582 |
| Gains (losses) on early extinguishment of debt, net | (2,586) | (68,379) | 2,484 |
| Total other income | 1,039,288 | 1,044,502 | 678,726 |
| Earnings before income taxes | 1,886,290 | 1,815,568 | 1,347,104 |
| Total income tax expense | 63,330 | 54,609 | 54,564 |
| Consolidated net earnings | 1,822,960 | 1,760,959 | 1,292,540 |
| Less net earnings attributable to noncontrolling interests | 124,712 | 63,620 | 48,307 |
| Net earnings attributable to controlling interests | 1,698,248 | 1,697,339 | 1,244,233 |
| Less preferred stock/unit dividends/distributions | 5,935 | 6,499 | 6,714 |
| Loss on preferred stock/unit repurchase | 0 | 3,895 | 0 |
| Net earnings attributable to common stockholders/unitholders | 1,692,313 | 1,686,945 | 1,237,519 |
| Weighted average common shares/units outstanding - Basic | 575,798 | 536,335 | 532,326 |
| Weighted average common shares/units outstanding - Diluted | 590,239 | 552,300 | 546,666 |
| Net earnings per share attributable to common stockholders/unitholders - Basic | 2.90 | 3.10 | 2.29 |
| Net earnings per share attributable to common stockholders/unitholders - Diluted | 2.87 | 3.06 | 2.27 |
| Dividends or distributions per common share or unit | 1.92 | 1.76 | 1.68 |
| External Links | |
| PROLOGIS, INC. (PLD) Fiscal Year 2018 | |
| 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 |