Prologis, Inc. (PLD) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
Real Estate Operations	4,934.1	4,168.7	3,801.7	2,838.7	2,398.1	2,244.2	2,229.6	1,979.2
Strategic Capital	1,039.6	590.8	637.0	491.9	406.3	373.9	303.6	217.8
Total revenues [+]	5,973.7	4,759.4	4,438.7	3,330.6	2,804.4	2,618.1	2,533.1	2,197.1
Tenant reimbursements								437.1
Management fees								217.8
Lease / rental					2,388.8	2,225.1	1,734.8	1,536.1
Other real estate								6.1
Revenue growth [+]	25.5%	7.2%	33.3%	18.8%	7.1%	3.4%	15.3%	24.8%
Real Estate Operations	18.4%	9.7%	33.9%	18.4%	6.9%	0.7%	12.6%	28.4%
Strategic Capital	76.0%	-7.3%	29.5%	21.1%	8.7%	23.2%	39.4%	-0.9%
Cost of goods sold	1,205.7	1,041.3	952.1	734.3	600.6	569.5	568.9	544.2
Gross profit	4,768.0	3,718.1	3,486.7	2,596.4	2,203.8	2,048.6	1,964.3	1,652.9
Gross margin	79.8%	78.1%	78.6%	78.0%	78.6%	78.2%	77.5%	75.2%
Selling, general and administrative [+]	331.1	293.2	274.8	266.7	239.0	231.1	222.1	217.2
General and administrative	331.1	293.2	274.8	266.7	239.0	231.1	222.1	217.2
Equity in earnings	310.9	404.3	297.4	200.2	298.3	248.6	206.3	159.3
Other operating expenses	-843.4	-1,360.0	-469.1	-660.0	-670.4	-1,015.6	142.8	175.1
EBITDA [+]	5,591.2	5,189.2	3,978.3	3,189.8	2,933.5	3,081.7	1,805.7	1,419.8
EBITDA growth	7.7%	30.4%	24.7%	8.7%	-4.8%	70.7%	27.2%	29.5%
EBITDA margin	93.6%	109.0%	89.6%	95.8%	104.6%	117.7%	71.3%	64.6%
Depreciation and amortization	1,812.8	1,577.9	1,562.0	1,139.9	947.2	879.1	931.0	880.4
EBIT [+]	3,778.4	3,611.3	2,416.3	2,049.9	1,986.3	2,202.6	874.7	539.4
EBIT growth	4.6%	49.5%	17.9%	3.2%	-9.8%	151.8%	62.1%	18.8%
EBIT margin	63.3%	75.9%	54.4%	61.5%	70.8%	84.1%	34.5%	24.6%
Interest expense	309.0	266.2	314.5	240.0	229.1	274.5	303.1	301.4
Interest expense	309.0	266.2	314.5	240.0	229.1	274.5	303.1	301.4
Other income (expense), net [+]	221.4	-22.2	-354.7	-33.6	129.2	-112.5	775.6	710.5
Gain (loss) on sale of assets								758.9
Gain (loss) on debt retirement	-20.2	-187.5	-188.3	-16.1	-2.6	-68.4	2.5	-86.3
Other				24.2	14.7	13.7	8.1	25.5
Pre-tax income	3,690.8	3,322.8	1,747.1	1,776.4	1,886.3	1,815.6	1,347.1	948.6
Income taxes	135.4	174.3	130.5	74.5	63.3	54.6	54.6	23.1
Tax rate	3.7%	5.2%	7.5%	4.2%	3.4%	3.0%	4.1%	2.4%
Minority interest	190.5	208.9	134.8	128.9	173.6	108.6	82.6	56.1
Net income	3,358.8	2,933.6	1,473.1	1,567.0	1,643.4	1,641.9	1,203.2	862.8
Net margin	56.2%	61.6%	33.2%	47.0%	58.6%	62.7%	47.5%	39.3%

Basic EPS [+]	$4.28	$3.97	$2.02	$2.48	$2.90	$3.10	$2.29	$1.66
Growth	7.7%	96.2%	-18.6%	-14.2%	-6.4%	35.4%	38.2%	32.9%
Diluted EPS [+]	$4.14	$3.84	$1.95	$2.39	$2.78	$2.97	$2.20	$1.62
Growth	7.9%	96.4%	-18.4%	-14.1%	-6.3%	35.1%	36.2%	31.5%

Dividends per share [+]	$0.02	$2.52	$2.32	$2.12	$0.03	$0.01	$1.68	$1.52
Growth	-99.2%	8.6%	9.4%	6966.7%	200.0%	-99.4%	10.5%	15.2%

Shares outstanding (basic) [+]	785.7	739.4	728.3	630.6	567.4	530.4	526.1	521.2
Growth	6.3%	1.5%	15.5%	11.1%	7.0%	0.8%	0.9%	4.3%
Shares outstanding (diluted) [+]	811.6	764.8	754.4	654.9	590.2	552.3	546.7	533.9
Growth	6.1%	1.4%	15.2%	11.0%	6.9%	1.0%	2.4%	5.4%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.