Attached files
| file | filename |
|---|---|
| EX-15.1 - EX-15.1 - Prologis, Inc. | pld-ex151_201503318.htm |
| EX-15.2 - EX-15.2 - Prologis, Inc. | pld-ex152_201503319.htm |
| EX-12.2 - EX-12.2 - Prologis, Inc. | pld-ex122_201503317.htm |
| EX-31.2 - EX-31.2 - Prologis, Inc. | pld-ex312_2015033111.htm |
| EX-31.1 - EX-31.1 - Prologis, Inc. | pld-ex311_2015033110.htm |
| EX-31.3 - EX-31.3 - Prologis, Inc. | pld-ex313_2015033112.htm |
| EX-10.1 - EX-10.1 - Prologis, Inc. | pld-ex101_201503311538.htm |
| EX-10.2 - EX-10.2 - Prologis, Inc. | pld-ex102_201503311539.htm |
| EXCEL - IDEA: XBRL DOCUMENT - Prologis, Inc. | Financial_Report.xls |
| EX-32.2 - EX-32.2 - Prologis, Inc. | pld-ex322_2015033115.htm |
| EX-31.4 - EX-31.4 - Prologis, Inc. | pld-ex314_2015033113.htm |
| 10-Q - 10-Q - Prologis, Inc. | pld-10q_20150331.htm |
| EX-32.1 - EX-32.1 - Prologis, Inc. | pld-ex321_2015033114.htm |
Exhibit 12.1
PROLOGIS, INC. AND PROLOGIS, L.P.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollar amounts in thousands)
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Three Months Ended |
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March 31, |
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Year Ended December 31, |
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2015 |
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2014 |
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2013 |
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2012 |
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2011 |
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2010 |
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Consolidated net earnings (loss) from continuing operations |
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$ |
351,312 |
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$ |
739,284 |
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$ |
229,529 |
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$ |
(106,397 |
) |
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$ |
(274,944 |
) |
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$ |
(1,605,355 |
) |
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Add (Deduct): |
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Fixed charges |
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88,375 |
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382,210 |
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458,285 |
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572,108 |
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529,798 |
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518,399 |
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Capitalized interest |
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(16,284 |
) |
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(61,457 |
) |
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(67,955 |
) |
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(53,397 |
) |
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(52,651 |
) |
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(53,661 |
) |
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Earnings from unconsolidated entities, net |
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(31,042 |
) |
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(134,288 |
) |
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(97,220 |
) |
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(31,676 |
) |
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(59,935 |
) |
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(23,678 |
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Distributed income from equity entities |
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32,361 |
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117,937 |
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68,618 |
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34,945 |
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72,976 |
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27,404 |
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Income tax expense (benefit) |
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1,891 |
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(25,656 |
) |
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106,733 |
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3,580 |
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1,776 |
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(30,499 |
) |
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Earnings (loss), as adjusted |
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$ |
426,613 |
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$ |
1,018,030 |
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$ |
697,990 |
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$ |
419,163 |
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$ |
217,020 |
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$ |
(1,167,390 |
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Fixed charges: |
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Interest expense |
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$ |
68,761 |
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$ |
308,885 |
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$ |
379,327 |
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$ |
505,215 |
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$ |
466,571 |
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$ |
461,166 |
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Capitalized interest |
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16,284 |
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61,457 |
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67,955 |
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53,397 |
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52,651 |
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53,661 |
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Portion of rents representative of the interest factor |
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3,330 |
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11,868 |
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11,003 |
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13,496 |
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10,576 |
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3,572 |
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Total fixed charges |
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$ |
88,375 |
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$ |
382,210 |
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$ |
458,285 |
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$ |
572,108 |
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$ |
529,798 |
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$ |
518,399 |
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Ratio of earnings (loss), as adjusted, to fixed charges |
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4.8 |
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2.7 |
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1.5 |
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(a) |
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(a) |
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(a) |
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(a) |
The loss from continuing operations for 2012, 2011 and 2010 included impairment charges of $269.0 million, $147.7 million and $1.1 billion, respectively, that are discussed in our Annual Report on Form 10-K. Our fixed charges exceed our earnings (loss), as adjusted, by $152.9 million, $312.8 million and $1.7 billion for the years ended December 31, 2012, 2011 and 2010, respectively. |