Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 337

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7
Chunk 337
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 EndedDecember 31,

    2024

    2023

    % Change

    Reconciliation of Consolidated Property NOI to Same Store Property NOI measures:

    Rental revenues
    $
    1,938

    $
    1,756

    Rental expenses
     
    (439
    )

    (408
    )

    Consolidated Property NOI
    $
    1,499

    $
    1,348

    Adjustments to derive same store results:

    Property NOI from consolidated properties not included in same store portfolio and     other adjustments (1)
     
    (263
    )

    (174
    )

    Property NOI from unconsolidated co-investment ventures included in same store      portfolio (1)(2)
     
    807

    753

    Third parties' share of Property NOI from properties included in same store portfolio (1)(2)
     
    (641
    )

    (612
    )

    Prologis Share of Same Store Property NOI – Net Effective (2)
    $
    1,402

    $
    1,315

    6.6
    %

    Consolidated properties straight-line rent and fair value lease amortization     included in same store portfolio (3)
     
    (116
    )

    (113
    )

    Unconsolidated co-investment ventures straight-line rent and fair value lease      amortization included in same store portfolio (3)
     
    (17
    )

    (11
    )

    Third parties' share of straight-line rent and fair value lease amortization included     in same store portfolio (2)(3)
     
    11

    9

    Prologis Share of Same Store Property NOI – Cash (2)(3)
    $
    1,280

    $
    1,200

    6.7
    %

(1)We exclude properties held for sale to third parties, along with development properties that were not stabilized at the beginning of the period and properties acquired or disposed of to third parties during the period. We also exclude net termination and renegotiation fees and write-offs of fair value lease assets or liabilities to allow us to evaluate the growth or decline in each property’s rental revenues without regard to one-time items that are not indicative of the property’s recurring operating performance. Net termination and renegotiation fees represent the gross