Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 453

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 453
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 not reflected in FFO.

•Gains or losses from property dispositions and impairment charges related to expected dispositions represent changes in value of the properties. By excluding these gains and losses, FFO does not capture realized changes in the value of disposed properties arising from changes in market conditions.

•The deferred income tax benefits and expenses that are excluded from our modified FFO measures result from the creation of a deferred income tax asset or liability that may have to be settled at some future point. Our modified FFO measures do not currently reflect any income or expense that may result from such settlement.

•The foreign currency exchange gains and losses that are excluded from our modified FFO measures are generally recognized based on movements in foreign currency exchange rates through a specific point in time. The ultimate settlement of our foreign currency-denominated net assets is indefinite as to timing and amount. Our FFO measures are limited in that they do not reflect the current period changes in these net assets that result from periodic foreign currency exchange rate movements.

•The gains and losses on extinguishment of debt or preferred stock that we exclude from our Core FFO, may provide a benefit or cost to us as we may be settling our obligation at less or more than our future obligation.

We compensate for these limitations by using our FFO measures only in conjunction with net earnings computed under GAAP when making our decisions. This information should be read with our complete Consolidated Financial Statements prepared under GAAP. To 

45

assist investors in compensating for these limitations, we reconcile our modified FFO measures to our net earnings computed under GAAP as follows (in millions):

    2024

    2023

    Reconciliation of net earnings attributable to common stockholders to FFO measures:

    Net earnings attributable to common stockholders
     
    $
    3,726

    $
    3,053

    Add (deduct) NAREIT defined adjustments:

    Real estate related depreciation and amortization

    2,504

    2,434

    Gains on other dispositions of investments in real estate, net of taxes (excluding development      properties and land)

    (899
    )

    (158
    )

    Adjustments related to noncontrolling interests

    (31
    )

    (38
    )

    Our proportionate share of adjustments related to unconsolidated entities

    495

    455

    NAREIT defined FFO attributable to common stockholders/unitholders