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: 2019 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 11, 2020) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Revenues: | |||
| Rental | $ 2,831,818 | 2,388,791 | 2,225,141 |
| Strategic capital | 491,886 | 406,300 | 373,889 |
| Development management and other | 6,917 | 9,358 | 19,104 |
| Total revenues | 3,330,621 | 2,804,449 | 2,618,134 |
| Expenses: | |||
| Rental | 734,266 | 600,648 | 569,523 |
| Strategic capital | 184,661 | 157,040 | 155,141 |
| General and administrative | 266,718 | 238,985 | 231,059 |
| Depreciation and amortization | 1,139,879 | 947,214 | 879,140 |
| Other | 13,149 | 13,560 | 12,205 |
| Total expenses | 2,338,673 | 1,957,447 | 1,847,068 |
| Operating income before gains on real estate transactions, net | 991,948 | 847,002 | 771,066 |
| Gains on dispositions of development properties and land, net | 467,577 | 469,817 | 327,528 |
| Gains on other dispositions of investments in real estate, net | 390,241 | 371,179 | 855,437 |
| Operating income | 1,849,766 | 1,687,998 | 1,954,031 |
| Other income (expense): | |||
| Earnings from unconsolidated entities, net | 200,178 | 298,260 | 248,567 |
| Interest expense | (239,953) | (229,141) | (274,486) |
| Interest and other income, net | 24,213 | 14,663 | 13,731 |
| Foreign currency and derivative gains (losses), net | (41,715) | 117,096 | (57,896) |
| Losses on early extinguishment of debt, net | (16,126) | (2,586) | (68,379) |
| Total other income (expense) | (73,403) | 198,292 | (138,463) |
| Earnings before income taxes | 1,776,363 | 1,886,290 | 1,815,568 |
| Total income tax expense | 74,517 | 63,330 | 54,609 |
| Consolidated net earnings | 1,701,846 | 1,822,960 | 1,760,959 |
| Less net earnings attributable to noncontrolling interests | 128,887 | 173,599 | 108,634 |
| Net earnings attributable to controlling interests | 1,572,959 | 1,649,361 | 1,652,325 |
| Less preferred stock/unit dividends/distributions | 6,009 | 5,935 | 6,499 |
| Loss on preferred stock/unit repurchase | 0 | 0 | 3,895 |
| Net earnings attributable to common stockholders/unitholders | 1,566,950 | 1,643,426 | 1,641,931 |
| Weighted average common shares/units outstanding - Basic | 630,580 | 567,367 | 530,400 |
| Weighted average common shares/units outstanding - Diluted | 654,903 | 590,239 | 552,300 |
| Net earnings per share/unit attributable to common stockholders/unitholders - Basic | 2.48 | 2.90 | 3.10 |
| Net earnings per share/unit attributable to common stockholders/unitholders - Diluted | 2.46 | 2.87 | 3.06 |
| Consolidated Entities | |||
| Prologis, L.P. | |||
| Rental | 2,831,818 | 2,388,791 | 2,225,141 |
| Strategic capital | 491,886 | 406,300 | 373,889 |
| Development management and other | 6,917 | 9,358 | 19,104 |
| Total revenues | 3,330,621 | 2,804,449 | 2,618,134 |
| Rental | 734,266 | 600,648 | 569,523 |
| Strategic capital | 184,661 | 157,040 | 155,141 |
| General and administrative | 266,718 | 238,985 | 231,059 |
| Depreciation and amortization | 1,139,879 | 947,214 | 879,140 |
| Other | 13,149 | 13,560 | 12,205 |
| Total expenses | 2,338,673 | 1,957,447 | 1,847,068 |
| Operating income before gains on real estate transactions, net | 991,948 | 847,002 | 771,066 |
| Gains on dispositions of development properties and land, net | 467,577 | 469,817 | 327,528 |
| Gains on other dispositions of investments in real estate, net | 390,241 | 371,179 | 855,437 |
| Operating income | 1,849,766 | 1,687,998 | 1,954,031 |
| Earnings from unconsolidated entities, net | 200,178 | 298,260 | 248,567 |
| Interest expense | (239,953) | (229,141) | (274,486) |
| Interest and other income, net | 24,213 | 14,663 | 13,731 |
| Foreign currency and derivative gains (losses), net | (41,715) | 117,096 | (57,896) |
| Losses on early extinguishment of debt, net | (16,126) | (2,586) | (68,379) |
| Total other income (expense) | (73,403) | 198,292 | (138,463) |
| Earnings before income taxes | 1,776,363 | 1,886,290 | 1,815,568 |
| Total income tax expense | 74,517 | 63,330 | 54,609 |
| Consolidated net earnings | 1,701,846 | 1,822,960 | 1,760,959 |
| Less net earnings attributable to noncontrolling interests | 82,222 | 124,712 | 63,620 |
| Net earnings attributable to controlling interests | 1,619,624 | 1,698,248 | 1,697,339 |
| Less preferred stock/unit dividends/distributions | 6,009 | 5,935 | 6,499 |
| Loss on preferred stock/unit repurchase | 0 | 0 | 3,895 |
| Net earnings attributable to common stockholders/unitholders | 1,613,615 | 1,692,313 | 1,686,945 |
| Weighted average common shares/units outstanding - Basic | 641,128 | 575,798 | 536,335 |
| Weighted average common shares/units outstanding - Diluted | 654,903 | 590,239 | 552,300 |
| Net earnings per share/unit attributable to common stockholders/unitholders - Basic | 2.48 | 2.90 | 3.10 |
| Net earnings per share/unit attributable to common stockholders/unitholders - Diluted | 2.46 | 2.87 | 3.06 |
| External Links | |
| PROLOGIS, INC. (PLD) Fiscal Year 2019 | |
| 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 |