Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 69

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 16
Chunk 69
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 31, 2024 and 2023, as compared with those in effect when the debt was issued or assumed, including lower borrowing spreads due to our credit ratings. See Note 8 for more information on our debt activity. 

93

 The following table reflects the carrying amounts and estimated fair values of our debt at December 31 (in thousands):  

        2024

        2023

        Carrying Value

        Fair Value

        Carrying Value

        Fair Value

        Credit facilities and commercial paper
         
        $
        224,966

        $
        224,966

        $
        979,313

        $
        979,313

        Senior notes

        28,322,163

        26,095,901

        25,311,647

        23,121,936

        Term loans and unsecured other

        2,013,317

        1,991,934

        2,330,520

        2,322,827

        Secured mortgage

        318,817

        298,452

        379,021

        357,731

        Total
         
        $
        30,879,263

        $
        28,611,253

        $
        29,000,501

        $
        26,781,807

NOTE 16. COMMITMENTS AND CONTINGENCIES Environmental Matters A majority of the properties we acquire, including land, are subjected to environmental reviews either by us or the previous owners. In addition, we may incur environmental remediation costs associated with certain land parcels we acquire in connection with the development of the land. We have acquired certain properties that may have been leased to or previously owned by companies that discharged hazardous materials. We establish a liability at the time of acquisition to cover such costs and adjust the liabilities as appropriate when additional information becomes available. We record our environmental liabilities in Other Liabilities in the Consolidated Balance Sheets. We purchase various environmental insurance policies to mitigate our exposure to environmental liabilities. We are not aware of any environmental liabilities that would have a material adverse effect on our business, financial condition or results of operations. Off-Balance Sheet Liabilities We have entered into agreements, principally performance and surety bonds and standby letters of credit in connection with certain development and renewable energy projects. These agreements are commonly required by public agencies, including utilities, from real estate and renewable