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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 10/27/22 Prologis, L.P. 424B3 1:1.7M Toppan Merrill/FA |
Document/Exhibit Description Pages Size 1: 424B3 Prospectus - New Facts or Events HTML 1.63M
tm2224957-8_s3 - none - 22.5626007s |
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Per Note
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Total
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Price to public(1)
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| | | | % | | | | | C$ | | | |
Underwriting discount
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| | | | % | | | | | C$ | | | |
Proceeds to us, before expenses
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| | | | % | | | | | C$ | | | |
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Scotiabank
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TD Securities
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Page
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| | | | S-iv | | | |
| | | | S-1 | | | |
| | | | S-10 | | | |
| | | | S-15 | | | |
| | | | S-16 | | | |
| | | | S-17 | | | |
| | | | S-18 | | | |
| | | | S-27 | | | |
| | | | S-33 | | | |
| | | | S-38 | | | |
| | | | S-38 | | | |
| | | | S-38 | | |
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Page
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| | | | 10 | | | |
| | | | 12 | | | |
| | | | 17 | | | |
| | | | 25 | | | |
| | | | 30 | | | |
| | | | 50 | | | |
| | | | 70 | | | |
| | | | 90 | | | |
| | | | 110 | | | |
| | | | 131 | | | |
| | | | 133 | | | |
| | | | 133 | | | |
| | | | 133 | | | |
| | | | 134 | | |
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2021
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2022
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2021
|
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(unaudited)
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(unaudited)
|
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(unaudited)
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(unaudited)
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Operating Data (in millions, expect per share data) | | | | | | | | | | | | | | | | | | | | | | | | | |
Revenues: | | | | | | | | | | | | | | | | | | | | | | | | | |
Rental
|
| | | $ | 1,152 | | | | | $ | 1,037 | | | | | $ | 3,322 | | | | | $ | 3,074 | | |
Strategic capital
|
| | | | 594 | | | | | | 142 | | | | | | 886 | | | | | | 391 | | |
Development management and other
|
| | | | 4 | | | | | | 4 | | | | | | 14 | | | | | | 17 | | |
Total revenues
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| | | | 1,750 | | | | | | 1,183 | | | | | | 4,222 | | | | | | 3,482 | | |
Expenses: | | | | | | | | | | | | | | | | | | | | | | | | | |
Rental
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| | | | 285 | | | | | | 257 | | | | | | 831 | | | | | | 780 | | |
Strategic capital
|
| | | | 130 | | | | | | 52 | | | | | | 239 | | | | | | 147 | | |
General and administrative
|
| | | | 88 | | | | | | 67 | | | | | | 246 | | | | | | 219 | | |
Depreciation and amortization
|
| | | | 401 | | | | | | 391 | | | | | | 1,200 | | | | | | 1,181 | | |
Other
|
| | | | 7 | | | | | | 4 | | | | | | 28 | | | | | | 15 | | |
Total expenses
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| | | | 911 | | | | | | 771 | | | | | | 2,544 | | | | | | 2,342 | | |
Operating income before gains on real estate transactions, net
|
| | | | 839 | | | | | | 412 | | | | | | 1,678 | | | | | | 1,140 | | |
Gains on dispositions of development properties and land, net
|
| | | | 75 | | | | | | 139 | | | | | | 391 | | | | | | 500 | | |
Gains on other dispositions of investments in real estate, net
|
| | | | 1 | | | | | | 214 | | | | | | 585 | | | | | | 358 | | |
Operating income
|
| | | | 915 | | | | | | 765 | | | | | | 2,654 | | | | | | 1,998 | | |
Other income (expense): | | | | | | | | | | | | | | | | | | | | | | | | | |
Earnings from unconsolidated entities, net
|
| | | | 85 | | | | | | 92 | | | | | | 241 | | | | | | 231 | | |
Interest expense
|
| | | | (64) | | | | | | (64) | | | | | | (188) | | | | | | (203) | | |
Foreign currency and derivative gains, net and interest and other income, net
|
| | | | 172 | | | | | | 64 | | | | | | 365 | | | | | | 143 | | |
Losses on early extinguishment of debt, net
|
| | | | — | | | | | | — | | | | | | (19) | | | | | | (187) | | |
Total other income (expense)
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| | | | 193 | | | | | | 92 | | | | | | 399 | | | | | | (16) | | |
Earnings before income taxes
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| | | | 1,108 | | | | | | 857 | | | | | | 3,053 | | | | | | 1,982 | | |
Income tax expense
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| | | | (39) | | | | | | (59) | | | | | | (118) | | | | | | (134) | | |
Consolidated net earnings
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| | | | 1,069 | | | | | | 798 | | | | | | 2,935 | | | | | | 1,848 | | |
Less net earnings attributable to noncontrolling interests
|
| | | | 25 | | | | | | 54 | | | | | | 79 | | | | | | 110 | | |
Net earnings attributable to controlling interests
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| | | | 1,044 | | | | | | 744 | | | | | | 2,856 | | | | | | 1,738 | | |
Less preferred stock dividends
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| | | | 1 | | | | | | 2 | | | | | | 5 | | | | | | 5 | | |
Net earnings attributable to common stockholders
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| | | $ | 1,043 | | | | | $ | 742 | | | | | $ | 2,851 | | | | | $ | 1,733 | | |
Weighted average common shares outstanding – Basic
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| | | | 753.6 | | | | | | 751.6 | | | | | | 753.5 | | | | | | 751.8 | | |
Weighted average common shares outstanding – Diluted
|
| | | | 766.4 | | | | | | 764.9 | | | | | | 766.0 | | | | | | 764.6 | | |
Net earnings per share attributable to common stockholders –
Basic |
| | | $ | 1.37 | | | | | $ | 0.98 | | | | | $ | 3.74 | | | | | $ | 2.28 | | |
Net earnings per share attributable to common stockholders – Diluted
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| | | $ | 1.36 | | | | | $ | 0.97 | | | | | $ | 3.72 | | | | | $ | 2.27 | | |
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2021
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2022
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2021
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(unaudited)
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(unaudited)
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(unaudited)
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(unaudited)
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FFO(1): (in millions) | | | | | | | | | | | | | | | | | | | | | | | | | |
Net earnings attributable to common stockholders
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| | | $ | 1,043 | | | | | $ | 742 | | | | | $ | 2,851 | | | | | $ | 1,733 | | |
Add (deduct) NAREIT defined adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | |
Real estate related depreciation and amortization
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| | | | 389 | | | | | | 380 | | | | | | 1,163 | | | | | | 1,149 | | |
Gains on other dispositions of investments in real estate, net of taxes (excluding development properties and land)
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| | | | (1) | | | | | | (188) | | | | | | (591) | | | | | | (332) | | |
Reconciling items related to noncontrolling interests
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| | | | (30) | | | | | | (1) | | | | | | (74) | | | | | | (46) | | |
Our share of reconciling items related to unconsolidated co-investment ventures
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| | | | 80 | | | | | | 52 | | | | | | 225 | | | | | | 200 | | |
Our share of reconciling items related to other unconsolidated ventures
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| | | | 5 | | | | | | 7 | | | | | | 16 | | | | | | 22 | | |
NAREIT defined FFO(1)
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| | | | 1,486 | | | | | | 992 | | | | | | 3,590 | | | | | | 2,726 | | |
Add (deduct) our defined adjustments: | | | | | | | | | | | | | | | | | | | | | | | | | |
Unrealized foreign currency and derivative gains, net
|
| | | | (76) | | | | | | (67) | | | | | | (231) | | | | | | (150) | | |
Deferred income tax expense (benefit)
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| | | | 6 | | | | | | (4) | | | | | | 24 | | | | | | 10 | | |
Current income tax expense on dispositions related to acquired tax liabilities
|
| | | | — | | | | | | — | | | | | | — | | | | | | 3 | | |
Reconciling items related to noncontrolling interests
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| | | | — | | | | | | 1 | | | | | | — | | | | | | 1 | | |
Our share of reconciling items related to unconsolidated co-investment ventures
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| | | | (16) | | | | | | — | | | | | | (14) | | | | | | (2) | | |
FFO, as modified by Prologis(1)
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| | | | 1,400 | | | | | | 922 | | | | | | 3,369 | | | | | | 2,588 | | |
Adjustments to arrive at Core FFO attributable to common stockholders/unitholders*:
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| | | | | | | | | | | | | | | | | | | | | | | | |
Gains on dispositions of development properties and land, net
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| | | | (75) | | | | | | (139) | | | | | | (391) | | | | | | (500) | | |
Current income tax expense on dispositions
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| | | | 1 | | | | | | 5 | | | | | | 7 | | | | | | 29 | | |
Losses on early extinguishment of debt, net
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| | | | — | | | | | | — | | | | | | 19 | | | | | | 187 | | |
Reconciling items related to noncontrolling interests
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| | | | — | | | | | | 7 | | | | | | 4 | | | | | | 7 | | |
Our share of reconciling items related to unconsolidated co-investment ventures
|
| | | | 1 | | | | | | — | | | | | | 1 | | | | | | 3 | | |
Our share of reconciling items related to other unconsolidated ventures
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| | | | 1 | | | | | | — | | | | | | 1 | | | | | | (2) | | |
Core FFO(1)
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| | | $ | 1,328 | | | | | $ | 795 | | | | | $ | 3,010 | | | | | $ | 2,312 | | |
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(unaudited)
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(audited)
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Financial Position (in millions): | | | | | | | | | | | | | |
Net investments in real estate properties
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| | | $ | 47,396 | | | | | $ | 45,337 | | |
Investments in and advances to unconsolidated entities
|
| | | | 8,659 | | | | | | 8,611 | | |
Cash and cash equivalents
|
| | | | 636 | | | | | | 556 | | |
Total assets
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| | | | 60,946 | | | | | | 58,486 | | |
Total debt
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| | | | 18,139 | | | | | | 17,715 | | |
Total liabilities
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| | | | 21,339 | | | | | | 20,744 | | |
Noncontrolling interests
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| | | | 3,324 | | | | | | 3,398 | | |
Total capital
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| | | | 39,606 | | | | | | 37,742 | | |
Number of common units outstanding
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| | | | 753 | | | | | | 752 | | |
Number of Class A common limited partnership units outstanding
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| | | | 9 | | | | | | 9 | | |
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As of
September 30, 2022 |
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Actual
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As Adjusted
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(In millions)
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Cash and cash equivalents:
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| | | $ | 636 | | | | | $ | | | |
Debt: | | | | | | | | | | | | | |
Credit facilities
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| | | $ | 520 | | | | | $ | | | |
Senior notes(1)
|
| | | | 15,748 | | | | | | | | |
Notes offered hereby(2)
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| | | | | | | | | | | | |
Term loans and other debt
|
| | | | 1,377 | | | | | | | | |
Secured mortgage
|
| | | | 494 | | | | | | | | |
Total debt
|
| | | | 18,139 | | | | | | | | |
Prologis, L.P. capital: | | | | | | | | | | | | | |
Partners’ capital
|
| | | | 36,283 | | | | | | | | |
Noncontrolling interests:
|
| | | | 3,323 | | | | | | | | |
Total capital
|
| | | | 39,606 | | | | | | | | |
Total capitalization:
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| | | $ | 57,745 | | | | | $ | | |
Name
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Principal Amount
of notes |
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Scotia Capital Inc.
|
| | | C$ | | | |
TD Securities Inc.
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Total
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| | | C$ | | | |
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This ‘424B3’ Filing | Date | Other Filings | ||
---|---|---|---|---|
6/30/26 | ||||
1/1/26 | ||||
12/31/25 | ||||
10/7/25 | ||||
Filed on: | 10/27/22 | |||
10/26/22 | ||||
10/25/22 | ||||
10/6/22 | 8-K | |||
9/30/22 | ||||
9/15/22 | 424B3, 8-K, EFFECT, FWP, S-3ASR | |||
9/14/22 | 8-K, EFFECT | |||
8/31/22 | S-4 | |||
6/30/22 | 10-Q, 8-K | |||
1/1/22 | ||||
12/31/21 | 10-K | |||
9/30/21 | 10-Q | |||
12/31/20 | 10-K | |||
3/26/19 | ||||
8/24/18 | 8-K/A, POSASR | |||
8/1/18 | 8-A12B | |||
12/31/17 | 10-K | |||
6/7/17 | 8-A12B | |||
12/31/15 | 10-K | |||
2/20/14 | 8-A12B | |||
12/3/13 | 8-A12B | |||
8/15/13 | 8-K | |||
6/8/11 | 8-K | |||
8/14/09 | S-3ASR, UPLOAD | |||
7/30/08 | ||||
1/1/05 | ||||
12/31/97 | ||||
1/1/97 | ||||
8/20/96 | ||||
List all Filings |