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Prologis Inc

For the period ended Dec 31, 2023. Filed Feb 13, 2024.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 13, 2024

PLD$130.55+2.8%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Table of Contents

ItemDescriptionPage
PART I
1.Business3
The Company3
Operating Segments5
Future Growth6
Code of Ethics and Business Conduct11
Environmental, Social and Governance11
Environmental Matters13
Governmental Matters13
Insurance Coverage13
1A.Risk Factors13
1B.Unresolved Staff Comments22
1C.Cybersecurity22
2.Properties23
Geographic Distribution23
Lease Expirations26
Co-Investment Ventures27
3.Legal Proceedings27
4.Mine Safety Disclosures27
PART II
5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities27
Market Information and Holders27
Preferred Stock Dividends28
Sales of Unregistered Securities28
Purchases of Equity Securities28
Securities Authorized for Issuance Under Equity Compensation Plans28
Other Stockholder Matters29
6.[Reserved]29
7.Management’s Discussion and Analysis of Financial Condition and Results of Operations29
Management’s Overview29
Results of Operations30
Environmental Matters39
Liquidity and Capital Resources39
Critical Accounting Policies43
New Accounting Pronouncements44
Funds from Operations Attributable to Common Stockholders/Unitholders44
7A.Quantitative and Qualitative Disclosures About Market Risk46
8.Financial Statements and Supplementary Data47
9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure47
9A.Controls and Procedures47
9B.Other Information49
9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections49
PART III
10.Directors, Executive Officers and Corporate Governance49
11.Executive Compensation49
12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters49
13.Certain Relationships and Related Transactions, and Director Independence49
14.Principal Accounting Fees and Services49
PART IV
15.Exhibits, Financial Statements and Schedules49

The statements in this report that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management’s beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” "aims," and “estimates” including variations of such words and similar expressions are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, acquisition and development activity, contribution and disposition activity, general conditions in the geographic areas where we operate, our debt, capital structure and financial position, our ability to earn revenues from co-investment ventures, form new co-investment ventures and the availability of capital in existing or new co-investment ventures — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained, and therefore actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) international, national, regional and local economic and political climates and conditions; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (v) maintenance of Real Estate Investment Trust (“REIT”) status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in and management of our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) risks related to global pandemics; and (xi) those additional factors discussed under Part I, Item 1A. Risk Factors in this report. We undertake no duty to update any forward-looking statements appearing in this report except as may be required by law.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.