10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||||||||||||
| |||||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PROLOGIS, INC. | |||
Ticker: PLD Fiscal Year: 2022 | |||
Consolidated Statements of Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 14, 2023) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Revenues: | |||
| Rental | $ 4,913,171 | 4,147,994 | 3,791,131 |
| Strategic capital | 1,039,585 | 590,750 | 636,987 |
| Development management and other | 20,936 | 20,696 | 10,617 |
| Total revenues | 5,973,692 | 4,759,440 | 4,438,735 |
| Expenses: | |||
| Rental | 1,205,738 | 1,041,316 | 952,063 |
| Strategic capital | 303,356 | 207,171 | 218,041 |
| General and administrative | 331,083 | 293,167 | 274,845 |
| Depreciation and amortization | 1,812,777 | 1,577,942 | 1,561,969 |
| Other | 40,336 | 22,435 | 30,010 |
| Total expenses | 3,693,290 | 3,142,031 | 3,036,928 |
| Operating income before gains on real estate transactions, net | 2,280,402 | 1,617,409 | 1,401,807 |
| Gains on dispositions of development properties and land, net | 597,745 | 817,017 | 464,942 |
| Gains on other dispositions of investments in real estate, net | 589,391 | 772,570 | 252,195 [1] |
| Operating income | 3,467,538 | 3,206,996 | 2,118,944 |
| Other income (expense): | |||
| Earnings from unconsolidated entities, net | 310,872 | 404,255 | 297,370 |
| Interest expense | (309,037) | (266,228) | (314,507) |
| Foreign currency and derivative gains (losses) and other income (expense), net | 241,621 | 165,278 | (166,429) |
| Losses on early extinguishment of debt, net | (20,184) | (187,453) | (188,290) |
| Total other income (expense) | 223,272 | 115,852 | (371,856) |
| Earnings before income taxes | 3,690,810 | 3,322,848 | 1,747,088 |
| Total income tax expense | (135,412) | (174,258) | (130,458) |
| Consolidated net earnings | 3,555,398 | 3,148,590 | 1,616,630 |
| Less net earnings attributable to noncontrolling interests | 190,542 | 208,867 | 134,816 |
| Net earnings attributable to controlling interests | 3,364,856 | 2,939,723 | 1,481,814 |
| Less preferred stock/unit dividends/distributions | 6,060 | 6,152 | 6,345 |
| Loss on preferred stock/unit repurchase | 0 | 0 | 2,347 |
| Net earnings attributable to common stockholders/unitholders | 3,358,796 | 2,933,571 | 1,473,122 |
| Weighted average common shares/units outstanding - Basic | 785,675 | 739,363 | 728,323 |
| Weighted average common shares/units outstanding - Diluted | 811,608 | 764,762 | 754,414 [2] |
| Net earnings per share/unit attributable to common stockholders/unitholders - Basic | 4.28 | 3.97 | 2.02 |
| Net earnings per share/unit attributable to common stockholders/unitholders - Diluted | 4.25 | 3.94 | 2.01 |
| Consolidated Entities | |||
| Prologis, L.P. | |||
| Rental | 4,913,171 | 4,147,994 | 3,791,131 |
| Strategic capital | 1,039,585 | 590,750 | 636,987 |
| Development management and other | 20,936 | 20,696 | 10,617 |
| Total revenues | 5,973,692 | 4,759,440 | 4,438,735 |
| Rental | 1,205,738 | 1,041,316 | 952,063 |
| Strategic capital | 303,356 | 207,171 | 218,041 |
| General and administrative | 331,083 | 293,167 | 274,845 |
| Depreciation and amortization | 1,812,777 | 1,577,942 | 1,561,969 |
| Other | 40,336 | 22,435 | 30,010 |
| Total expenses | 3,693,290 | 3,142,031 | 3,036,928 |
| Operating income before gains on real estate transactions, net | 2,280,402 | 1,617,409 | 1,401,807 |
| Gains on dispositions of development properties and land, net | 597,745 | 817,017 | 464,942 |
| Gains on other dispositions of investments in real estate, net | 589,391 | 772,570 | 252,195 |
| Operating income | 3,467,538 | 3,206,996 | 2,118,944 |
| Earnings from unconsolidated entities, net | 310,872 | 404,255 | 297,370 |
| Interest expense | (309,037) | (266,228) | (314,507) |
| Foreign currency and derivative gains (losses) and other income (expense), net | 241,621 | 165,278 | (166,429) |
| Losses on early extinguishment of debt, net | (20,184) | (187,453) | (188,290) |
| Total other income (expense) | 223,272 | 115,852 | (371,856) |
| Earnings before income taxes | 3,690,810 | 3,322,848 | 1,747,088 |
| Total income tax expense | (135,412) | (174,258) | (130,458) |
| Consolidated net earnings | 3,555,398 | 3,148,590 | 1,616,630 |
| Less net earnings attributable to noncontrolling interests | 98,611 | 127,075 | 93,195 |
| Net earnings attributable to controlling interests | 3,456,787 | 3,021,515 | 1,523,435 |
| Less preferred stock/unit dividends/distributions | 6,060 | 6,152 | 6,345 |
| Loss on preferred stock/unit repurchase | 0 | 0 | 2,347 |
| Net earnings attributable to common stockholders/unitholders | 3,450,727 | 3,015,363 | 1,514,743 |
| Weighted average common shares/units outstanding - Basic | 799,153 | 751,973 | 740,860 |
| Weighted average common shares/units outstanding - Diluted | 811,608 | 764,762 | 754,414 |
| Net earnings per share/unit attributable to common stockholders/unitholders - Basic | 4.28 | 3.97 | 2.02 |
| Net earnings per share/unit attributable to common stockholders/unitholders - Diluted | 4.25 | 3.94 | 2.01 |
| [1] In 2021, we sold our ownership interest in an unconsolidated other venture. | |||
| [2] Our total weighted average potentially dilutive shares and units outstanding for the years ended December 31 consisted of the following | |||
| External Links | |
| PROLOGIS, INC. (PLD) Fiscal Year 2022 | |
| 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 |