Prologis, Inc.
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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FY2025 · Filed Feb 13, 2026
PLD$130.10-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income
| Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Revenues: | |||
| Rental | $8,158,904 | $7,514,705 | $6,818,542 |
| Strategic capital | 592,353 | 671,907 | 1,200,232 |
| Development management and other | 38,870 | 14,998 | 4,695 |
| Total revenues | 8,790,127 | 8,201,610 | 8,023,469 |
| Expenses: | |||
| Rental | 1,964,137 | 1,765,385 | 1,624,793 |
| Strategic capital | 270,517 | 291,856 | 385,542 |
| General and administrative | 469,114 | 418,765 | 390,406 |
| Depreciation and amortization | 2,626,028 | 2,580,519 | 2,484,891 |
| Other | 46,029 | 47,044 | 53,354 |
| Total expenses | 5,375,825 | 5,103,569 | 4,938,986 |
| Operating income before gains on real estate transactions, net | 3,414,302 | 3,098,041 | 3,084,483 |
| Gains on dispositions of development properties and land, net | 257,731 | 413,743 | 462,270 |
| Gains on other dispositions of investments in real estate, net | 685,831 | 904,136 | 161,039 |
| Operating income | 4,357,864 | 4,415,920 | 3,707,792 |
| Other income (expense): | |||
| Earnings from unconsolidated entities, net | 402,531 | 353,623 | 307,227 |
| Interest expense | (1,002,344) | (863,932) | (641,332) |
| Foreign currency, derivative and other gains (losses) and other income (expense), net | 14,763 | 208,731 | 87,221 |
| Gains (losses) on early extinguishment of debt, net | (3,498) | 536 | 3,275 |
| Total other income (expense) | (588,548) | (301,042) | (243,609) |
| Earnings before income taxes | 3,769,316 | 4,114,878 | 3,464,183 |
| Income tax expense | (204,017) | (166,943) | (211,038) |
| Consolidated net earnings | 3,565,299 | 3,947,935 | 3,253,145 |
| Less net earnings attributable to noncontrolling interests | 237,068 | 216,300 | 193,931 |
| Net earnings attributable to controlling interests | 3,328,231 | 3,731,635 | 3,059,214 |
| Less preferred stock dividends | 5,882 | 5,881 | 5,841 |
| Net earnings attributable to common stockholders | $3,322,349 | $3,725,754 | $3,053,373 |
| Weighted average common shares outstanding – Basic | 928,473 | 926,172 | 924,351 |
| Weighted average common shares outstanding – Diluted | 956,832 | 953,590 | 951,791 |
| Net earnings per share attributable to common stockholders – Basic | $3.58 | $4.02 | $3.30 |
| Net earnings per share attributable to common stockholders – Diluted | $3.56 | $4.01 | $3.29 |
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