Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 177

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 177
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 redemption of our investment in certain unconsolidated entities.

•Net proceeds from (payments on) the settlement of net investment hedges. We received net proceeds of $13 million and $35 million for the settlement of net investment hedges in 2024 and 2023, respectively. See Note 15 to the Consolidated Financial Statements for further information on our derivative transactions.

Financing Activities

Cash provided by and used in financing activities is principally driven by proceeds from and payments on credit facilities, commercial paper and other debt, along with dividends paid on common and preferred stock and noncontrolling interest contributions and distributions. Our credit facilities and our commercial paper support our cash needs for development and acquisition activities on a short-term basis. The maturities of the borrowings under the credit facilities and the notes under the commercial paper program generally range from overnight to three months. 

Our repurchase of and payments on debt and proceeds from the issuance of debt consisted of the following activity (in millions):

    2024

    2023

    Repurchase of and payments on debt (including extinguishment costs)

    Regularly scheduled debt principal payments and payments at maturity
     
    $
    330

    $
    30

    Secured mortgage debt

    89

    153

    Senior notes

    -

    89

    Term loans

    500

    -

    Total
     
    $
    919

    $
    272

    Proceeds from the issuance of debt

    Secured mortgage debt
     
    $
    7

    $
    120

    Senior notes

    4,149

    5,323

    Term loans

    350

    312

    Total
     
    $
    4,506

    $
    5,755

Unconsolidated Co-Investment Venture Debt

We had investments in and advances to our unconsolidated co-investment ventures of $9.3 billion at December 31, 2024. These ventures had total third-party debt of $17.9 billion at December 31, 2024 with a weighted average remaining maturity of 6 years and weighted average interest rate of 3.5%. Certain of our ventures do not have third-party debt and are therefore excluded. This debt is non-recourse to Prologis and other investors in the co-investment ventures and bears interest as follows at December 31, 2024 (dollars