Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 112

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 7A
Chunk 112
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.5 billion. As we do not designate these foreign currency contracts as hedges, the gain or loss on settlement is included in our earnings and offsets the lower or higher translation of earnings from our investments denominated in currencies other than the U.S. dollar. Although the impact to net earnings is mitigated through higher translated U.S. dollar earnings from these currencies, a weakening of the U.S. dollar against these currencies by 10% could result in a $145 million cash payment on settlement of these contracts.

46

Table of Contents

Interest Rate Risk

We are also exposed to the impact of interest rate changes on future earnings and cash flows. To mitigate that risk, we generally borrow with fixed rate debt, and we may use derivative instruments to fix the interest rate on our variable rate debt. At December 31, 2024, $30.2 billion of our debt bore interest at fixed rates and therefore the fair value of these instruments was affected by changes in market interest rates. At December 31, 2024, $1.3 billion of our debt bore interest at variable rates. The following table summarizes the future repayment of debt and scheduled principal payments at December 31, 2024 (dollars in millions):

    2025

    2026

    2027

    2028

    Thereafter

    Total

    Fair Value

    Fixed rate debt
    $
    261

    $
    1,469

    $
    1,948

    $
    2,552

    $
    23,936

    $
    30,166

    $
    27,330

    Weighted average interest rate (1)
     
    3.4
    %

    3.4
    %

    2.3
    %

    3.3
    %

    3.2
    %

    3.2
    %

    Variable rate debt

    Credit facilities
    $
    -

    $
    163

    $
    62

    $
    -

    $
    -

    $
    225

    $
    225

    Secured mortgage debt
     
    45

    -

    -

    -

    -

    45

    44

    Senior notes
     
    -

    -

    -

    -

    -

    -

    -

    Term loans
     
    209

    542

    -

    64