Prologis, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Prologis, Inc. (PLDGP) has filed its Q1 2024 10-Q report, detailing financial activities and hedging instruments.</b>

AI Summary

Prologis, Inc. (PLDGP) filed a Quarterly Report (10-Q) with the SEC on April 25, 2024. Prologis, Inc. (PLDGP) filed a 10-Q report for the period ending March 31, 2024. The filing includes data related to various financial instruments and hedging activities. Specific mentions include foreign exchange contracts, senior notes, and credit facilities. The report details activities within Prologis, Inc. and Prologis, L.P. Key dates and financial reporting periods are referenced throughout the document.

Why It Matters

For investors and stakeholders tracking Prologis, Inc., this filing contains several important signals. This 10-Q filing provides a detailed look into Prologis's financial health and risk management strategies, particularly concerning foreign currency fluctuations and debt instruments. Investors and analysts can use this report to assess the company's performance and outlook in the real estate investment trust sector.

Risk Assessment

Risk Level: medium — Prologis, Inc. shows moderate risk based on this filing. The filing contains numerous financial instruments and hedging activities, indicating potential complexity and exposure to market fluctuations, but specific financial performance metrics are not detailed in this header information.

Analyst Insight

Review the full 10-Q filing to understand the specific financial performance, debt structure, and hedging effectiveness of Prologis, Inc. for Q1 2024.

Key Numbers

• 2024-03-31 — Period End Date (10-Q Filing)
• 2024-04-25 — Filing Date (10-Q Filing)
• 2023-12-31 — Previous Year End Date (Financial reporting)
• 2023-03-31 — Prior Year Quarter End Date (Financial reporting)

Key Players & Entities

• Prologis, Inc. (company) — Filer
• Prologis, L.P. (company) — Filer
• AMB PROPERTY CORP (company) — Former company name
• AMB PROPERTY LP (company) — Former company name
• 0000950170-24-048421 (other) — Accession Number
• 20240331 (date) — Period of report
• 20240425 (date) — Filed as of date
• 4153949000 (phone) — Business phone

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — Reporting period for the 10-Q
• 2024-04-25: Filing Date — Date the 10-Q was officially submitted

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides a comprehensive overview of a company's financial performance during a specific quarter.)

Foreign Exchange Contract

A contract that provides for the exchange of a specific amount of one currency for another. (Indicates hedging activities to manage currency risk.)

Senior Notes

Unsecured debt securities that rank higher than subordinated debt. (Represents a component of the company's debt structure.)

Key Financial Figures

• $0.01 — stered Prologis, Inc. Common Stock, $0.01 par value PLD New York Stock Exchan

Filing Documents

• pld-20240331.htm (10-Q) — 4332KB
• pld-ex15_1.htm (EX-15.1) — 6KB
• pld-ex15_2.htm (EX-15.2) — 6KB
• pld-ex22_1.htm (EX-22.1) — 15KB
• pld-ex31_1.htm (EX-31.1) — 13KB
• pld-ex31_2.htm (EX-31.2) — 13KB
• pld-ex31_3.htm (EX-31.3) — 13KB
• pld-ex31_4.htm (EX-31.4) — 13KB
• pld-ex32_1.htm (EX-32.1) — 8KB
• pld-ex32_2.htm (EX-32.2) — 9KB
• img139920102_0.jpg (GRAPHIC) — 10KB
• img139920102_1.jpg (GRAPHIC) — 30KB
• img139920102_2.jpg (GRAPHIC) — 41KB
• img139920102_3.jpg (GRAPHIC) — 63KB
• img139920102_4.jpg (GRAPHIC) — 22KB
• img139920102_5.jpg (GRAPHIC) — 47KB
• img139920102_6.jpg (GRAPHIC) — 26KB
• img139920102_7.jpg (GRAPHIC) — 24KB
• img139920102_8.jpg (GRAPHIC) — 45KB
• 0000950170-24-048421.txt (&nbsp;) — 17380KB
• pld-20240331.xsd (EX-101.SCH) — 1681KB
• pld-20240331_htm.xml (XML) — 4017KB

Financial Statements

Financial Statements 1 Prologis, Inc.: Consolidated Balance Sheets – March 31, 2024 and December 31, 2023 1 Consolidated Statements of Income – Three Months Ended March 31, 2024 and 2023 2 Consolidated Statements of Comprehensive Income – Three Months Ended March 31, 2024 and 2023 3 Consolidated Statements of Equity – Three Months Ended March 31, 2024 and 2023 4 Consolidated Statements of Cash Flows – Three Months Ended March 31, 2024 and 2023 5 Prologis, L.P.: Consolidated Balance Sheets – March 31, 2024 and December 31, 2023 6 Consolidated Statements of Income – Three Months Ended March 31, 2024 and 2023 7 Consolidated Statements of Comprehensive Income – Three Months Ended March 31, 2024 and 2023 8 Consolidated Statements of Capital – Three Months Ended March 31, 2024 and 2023 9 Consolidated Statements of Cash Flows – Three Months Ended March 31, 2024 and 2023 10 Prologis, Inc. and Prologis, L.P.: Notes to the Consolidated Financial Statements 11 Note 1. General 11 Note 2. Real Estate 12 Note 3. Unconsolidated Entities 13 Note 4. Assets Held for Sale or Contribution 15 Note 5. Debt 15 Note 6. Noncontrolling Interests 17 Note 7. Long-Term Compensation 18 Note 8. Earnings Per Common Share or Unit 19 Note 9. Financial Instruments and Fair Value Measurements 21 Note 10. Business Segments 24 Note 11. Supplemental Cash Flow Information 26 Reports of Independent Registered Public Accounting Firm 27 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 29 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 47 Item 4.

Controls and Procedures

Controls and Procedures 48 PART II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 49 Item 1A.

Risk Factors

Risk Factors 49 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49 Item 3. Defaults Upon Senior Securities 49 Item 4. Mine Safety Disclosures 49 Item 5. Other Information 49 Item 6. Exhibits 49 Index

FINAN CIAL INFORMATION

PART I. FINAN CIAL INFORMATION

Fina ncial Statements

ITEM 1. Fina ncial Statements PROLOGIS, INC. CONSOLIDATED BA LANCE SHEETS (Unaudited) (In thousands, except per share data) March 31, 2024 December 31, 2023 ASSETS Investments in real estate properties $ 89,427,505 $ 88,666,575 Less accumulated depreciation 11,430,899 10,931,485 Net investments in real estate properties 77,996,606 77,735,090 Investments in and advances to unconsolidated entities 9,691,101 9,543,970 Assets held for sale or contribution 382,793 461,657 Net investments in real estate 88,070,500 87,740,717 Cash and cash equivalents 500,589 530,388 Other assets 4,739,221 4,749,735 Total assets $ 93,310,310 $ 93,020,840 LIABILITIES AND EQUITY Liabilities: Debt $ 29,557,667 $ 29,000,501 Accounts payable and accrued expenses 1,752,485 1,766,018 Other liabilities 4,203,040 4,430,601 Total liabilities 35,513,192 35,197,120 Equity: Prologis, Inc. stockholders' equity: Series Q preferred stock at stated liquidation preference of $ 50 per share; $ 0.01 par value; 1,279 shares issued and outstanding and 100,000 preferred shares authorized at March 31, 2024 and December 31, 2023 63,948 63,948 Common stock; $ 0.01 par value; 925,790 shares and 924,391 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 9,258 9,244 Additional paid-in capital 54,336,001 54,249,801 Accumulated other comprehensive loss ( 285,395 ) ( 514,201 ) Distributions in excess of net earnings ( 933,159 ) ( 627,068 ) Total Prologis, Inc. stockholders' equity 53,190,653 53,181,724 Noncontrolling interests 4,606,465 4,641,996 Total equity 57,797,118 57,823,720 Total liabilities and equity $ 93,310,310 $ 93,020,840 The accompanying notes are an integral part of these Consolidated Financial Statements. 1 Index PROLOGIS, INC. CONSOLIDATED S TAT EMENTS OF INCOME (Unaudited) (In tho

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View this 10-Q filing on SEC EDGAR