Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 344

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 344
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    %
     
    1.0%

    3,086

    10.6
    %

    U.S. dollar
     
    4.1%

    14,458

    46.8
    %
     
    4.1%

    13,459

    46.4
    %

    Total debt (1)
     
    3.1%
     
    $
    30,879

    100.0
    %
     
    3.0%
     
    $
    29,001

    100.0
    %

(1)The weighted average remaining maturity for total debt outstanding at both December 31, 2024 and 2023 was 9 years. 

Our credit ratings at December 31, 2024, were A from Standard & Poor's with a stable outlook and A3 from Moody's with a positive outlook. These ratings allow us to borrow at an advantageous interest rate. Adverse changes in our credit ratings could negatively impact our business and, in particular, our refinancing and other capital market activities, our ability to manage debt maturities, our future growth and our development and acquisition activity. A securities rating is not a recommendation to buy, sell or hold securities and is subject to revision or withdrawal at any time by the rating organization.

At December 31, 2024, we were in compliance with all of our financial debt covenants. These covenants include a number of customary financial covenants, such as maintaining debt service coverage ratios, leverage ratios and fixed charge coverage ratios.

See Note 8 to the Consolidated Financial Statements for further discussion on our debt.

Equity Commitments Related to Certain Co-Investment Ventures

Certain co-investment ventures have equity commitments from us and our venture partners. Our venture partners fulfill their equity commitment with cash. We may fulfill our equity commitment through contributions of properties or cash. 

The following table summarizes the remaining equity commitments at December 31, 2024 (dollars in millions):

    Equity Commitments (1)

    Prologis

    Venture Partners

    Total

    Expiration Date

    Prologis Targeted U.S. Logistics Fund
     
    $
    -

    $
    94

    $
    94

    2027 (2)

    Prologis Brazil Logistics Venture

    33

    134

    167

    2026