Company: PLDGP
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000950170-25-021272
Chunk: 532

Company: Prologis, Inc.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 532
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 non-strategic real estate assets that we do not intend to operate long term; and (iv) non-industrial real estate assets that we intend to redevelop as industrial properties or data centers. (b)The aggregate cost for federal tax purposes at December 31, 2024, of our real estate assets was approximately $68 billion (unaudited). (c)Real estate assets (excluding land balances) are depreciated over their estimated useful lives. These useful lives are generally 5 to 7 years for capital improvements, 10 years for standard tenant improvements, 15 to 25 years for depreciable land improvements, 25 to 40 years for operating properties acquired based on the age of the building and 40 years for operating properties we develop.

101

 The following table reconciles accumulated depreciation per Schedule III to the Consolidated Balance Sheets in Item 8. Financial Statements and Supplementary Data at December 31, 2024 (in thousands): 

      Total accumulated depreciation per Schedule III
       
      $
      12,450,545
       
      (g)

      Accumulated depreciation on other real estate investments (i)

      307,614

      Total per Consolidated Balance Sheets
       
      $
      12,758,159

     (i)Accumulated depreciation in other real estate investments includes renewable energy assets. (d)Properties with an aggregate undepreciated cost of $687.4 million secure $270.7 million of mortgage notes. See Note 8 to the Consolidated Financial Statements in Item 8. Financial Statements and Supplementary Data for more information related to our secured mortgage debt. (e)Assessment bonds of $7.6 million are secured by assessments (similar to property taxes) on various underlying real estate properties with an aggregate undepreciated cost of $507.5 million. The assessment bonds are included in term loans and unsecured other debt in Note 8 to the Consolidated Financial Statements in Item 8. Financial Statements and Supplementary Data.  (f)Date of construction is provided for properties in the development portfolio that were completed but not yet stabilized.  (g)The following table summarizes our real estate assets and accumulated depreciation per Schedule III for the years ended December 31 (in thousands): 

      2024

      2023

      2022

      Real estate assets:

      Balance at beginning of year
       
      $
      79,802,952

      $