Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 234

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 234
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79 years at December 31, 2024. Our lease liabilities were $615.3 million and $597.6 million at December 31, 2024, and 2023, respectively.  The following table summarizes the fixed, future minimum rental payments, excluding variable costs, for leases that had commenced at December 31, 2024, with amounts discounted at lease commencement by our incremental borrowing rates to calculate the lease liabilities of our leases (in thousands): 

        2025
         
        $
        65,202

        2026

        56,694

        2027

        51,578

        2028

        49,818

        2029

        38,504

        Thereafter

        1,218,764

        Total undiscounted rental payments

        1,480,560

        Less imputed interest

        865,255

        Total lease liabilities
         
        $
        615,305

       The weighted average remaining lease term for these leases was 32 years and 30 years at December 31, 2024, and 2023, respectively. We do not include renewal options in the lease term for calculating the lease liability unless we are reasonably certain we will exercise the option or the lessor has the sole ability to exercise the option. We assigned a collateralized interest rate to each lease based on the term of the lease and the currency in which the lease was denominated. The weighted average discount rate was 3.9% and 3.6% at December 31, 2024, and 2023, respectively. 

NOTE 5. UNCONSOLIDATED ENTITIES Summary of Investments We have investments in entities through a variety of ventures. We co-invest in entities that own multiple properties with partners and investors and we provide asset management and property management services to these entities, which we refer to as co-investment ventures. These entities may be consolidated or unconsolidated depending on the structure, our partner’s participation and other rights and our level of control of the entity. This note details our investments in unconsolidated co-investment ventures, which are related parties and accounted for using the equity method of accounting. See Note 11 for more detail regarding our consolidated investments that are not wholly owned. We also have investments in other ventures, generally with one partner, which we primarily account for using the equity method.