Prologis, Inc.
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
View on SEC.govAbout 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.
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
(In thousands, except per unit amounts)
| 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 | 156,064 | 123,192 | 116,657 |
| Net earnings attributable to controlling interests | 3,409,235 | 3,824,743 | 3,136,488 |
| Less preferred unit distributions | 5,882 | 5,881 | 5,841 |
| Net earnings attributable to common unitholders | $3,403,353 | $3,818,862 | $3,130,647 |
| Weighted average common units outstanding – Basic | 947,938 | 941,782 | 939,635 |
| Weighted average common units outstanding – Diluted | 956,832 | 953,590 | 951,791 |
| Net earnings per unit attributable to common unitholders – Basic | $3.58 | $4.02 | $3.30 |
| Net earnings per unit attributable to common unitholders – Diluted | $3.56 | $4.01 | $3.29 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.