Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 505

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 505
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.2 million, respectively, related to customer security deposits that originated through a leasing company owned by us that pertain to properties we owned previously and contributed to NPR and PJLF. We have a corresponding payable to NPR’s and PJLF's customers in Other Liabilities. These amounts are repaid to us as the leases turn over. The amounts recognized in Strategic Capital Revenues and Earnings from Unconsolidated Entities, Net depend on the size, real estate valuations, operations and transactions of the unconsolidated co-investment ventures, the timing of revenues earned through promotes and transactional fees, as well as fluctuations in foreign currency exchange rates and our ownership interest. We recognized Strategic Capital Expenses for direct costs associated with the asset management of these ventures, allocated property-level management and leasing costs for the properties owned by the ventures and compensation expenses under the PPP. For additional discussion on the PPP, see Note 12.  

76

The following table summarizes the Strategic Capital Revenues we recognized in the Consolidated Statements of Income related to our unconsolidated co-investment ventures for the years ended December 31 (in thousands): 

        2024

        2023

        2022

        Recurring fees
         
        $
        464,292

        $
        450,682

        $
        455,385

        Transactional fees

        58,511

        60,467

        67,048

        Promote revenue (1)

        139,329

        674,629

        503,779

        Total strategic capital revenues from unconsolidated co-investment ventures (2)
         
        $
        662,132

        $
        1,185,778

        $
        1,026,212

       (1)Includes promote revenue primarily earned in the U.S. in 2024 and 2023 and Europe in 2022.  (2)These amounts exclude strategic capital revenues from other ventures. The following table summarizes the key property information, financial position and operating information of our unconsolidated co-investment ventures on a U.S. GAAP basis (not our proportionate share) and the amounts we recognized in the Consolidated Financial Statements related to these ventures at and for the years ended December 31 (dollars and square feet in millions): 

        U.S.
        Other Americas (1)
        Europe
        Asia
        Total