Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 456

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 456
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 At December 31, 2024, $1.3 billion of our debt bore interest at variable rates. The following table summarizes the future repayment of debt and scheduled principal payments at December 31, 2024 (dollars in millions):

    2025

    2026

    2027

    2028

    Thereafter

    Total

    Fair Value

    Fixed rate debt
    $
    261

    $
    1,469

    $
    1,948

    $
    2,552

    $
    23,936

    $
    30,166

    $
    27,330

    Weighted average interest rate (1)
     
    3.4
    %

    3.4
    %

    2.3
    %

    3.3
    %

    3.2
    %

    3.2
    %

    Variable rate debt

    Credit facilities
    $
    -

    $
    163

    $
    62

    $
    -

    $
    -

    $
    225

    $
    225

    Secured mortgage debt
     
    45

    -

    -

    -

    -

    45

    44

    Senior notes
     
    -

    -

    -

    -

    -

    -

    -

    Term loans
     
    209

    542

    -

    64

    199

    1,014

    1,012

    Total variable rate debt
    $
    254

    $
    705

    $
    62

    $
    64

    $
    199

    $
    1,284

    $
    1,281

(1)The weighted average interest rates represent the effective interest rates (including amortization of debt issuance costs and noncash premiums and discounts) at December 31, 2024 for the debt outstanding and include the impact of designated interest rate swaps, which effectively fix the interest rate on certain variable rate debt.

At December 31, 2024, the weighted average effective interest rate on our variable rate debt was 2.9%, which was calculated using an average balance on our credit facilities throughout the year and our other variable rate debt balances at December 31, 2024. Changes in interest rates can cause interest expense to fluctuate on our variable