Attached files
| file | filename |
|---|---|
| EX-15.2 - EX-15.2 - Prologis, Inc. | pld-ex152_201506307.htm |
| EX-15.1 - EX-15.1 - Prologis, Inc. | pld-ex151_201506306.htm |
| EX-31.1 - EX-31.1 - Prologis, Inc. | pld-ex311_2015063014.htm |
| EX-12.1 - EX-12.1 - Prologis, Inc. | pld-ex121_2015063013.htm |
| EX-31.4 - EX-31.4 - Prologis, Inc. | pld-ex314_2015063017.htm |
| EX-32.2 - EX-32.2 - Prologis, Inc. | pld-ex322_2015063015.htm |
| EX-32.1 - EX-32.1 - Prologis, Inc. | pld-ex321_2015063016.htm |
| EX-31.3 - EX-31.3 - Prologis, Inc. | pld-ex313_2015063012.htm |
| 10-Q - 10-Q - Prologis, Inc. | pld-10q_20150630.htm |
| EX-31.2 - EX-31.2 - Prologis, Inc. | pld-ex312_201506308.htm |
Exhibit 12.2
PROLOGIS, INC. AND PROLOGIS, L.P.
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS/UNIT DISTRIBUTIONS
(Dollar amounts in thousands)
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Six Months Ended |
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June 30, |
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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 |
|
$ |
491,572 |
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$ |
739,284 |
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$ |
229,529 |
|
|
$ |
(106,397 |
) |
|
$ |
(274,944 |
) |
|
$ |
(1,605,355 |
) |
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Add (Deduct): |
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Fixed charges |
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177,137 |
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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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(32,772 |
) |
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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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(72,826 |
) |
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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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64,083 |
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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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6,742 |
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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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$ |
633,936 |
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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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Combined fixed charges and preferred stock/unit dividends: |
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Interest expense |
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$ |
137,663 |
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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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32,772 |
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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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6,702 |
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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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177,137 |
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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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Preferred stock/unit dividends |
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3,348 |
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7,431 |
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18,391 |
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41,226 |
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34,696 |
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25,424 |
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Combined fixed charges and preferred stock dividends/unit distributions |
|
$ |
180,485 |
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$ |
389,641 |
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$ |
476,676 |
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$ |
613,334 |
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$ |
564,494 |
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$ |
543,823 |
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Ratio of earnings (loss), as adjusted, to combined fixed charges and preferred stock dividends/unit distributions |
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3.5 |
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2.6 |
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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 includes 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 combined fixed charges and preferred stock/unit dividends exceeded our earnings (loss), as adjusted, by $194.2 million, $347.5 million and $1.7 billion for the years ended December 31, 2012, 2011 and 2010, respectively. |