Prologis Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $3.33B | $3.73B | $3.06B | $3.36B | $2.94B | $1.48B | $1.57B | $1.65B |
| Depreciation & Amortization | $2.63B | $2.58B | $2.48B | $1.81B | $1.58B | $1.56B | $1.14B | $947.2M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $185.5M | $231.7M | $267.6M | $175.4M | $113.0M | $109.8M | $97.6M | $76.1M |
| Net Cash from Operating Activities | $5.01B | $4.91B | $5.37B | $4.13B | $3.00B | $2.94B | $2.26B | $1.80B |
| Investing Activities | ||||||||
| Capital Expenditures | — | — | — | — | — | — | — | — |
| Business Acquisitions | $0 | $0 | $33.0M | $92.1M | $0 | — | $0 | $45.9M |
| Net Cash from Investing Activities | $-3.63B | $-3.10B | $-6.42B | $-4.50B | $-1.99B | $-3.07B | $-685.4M | $-663.8M |
| Financing Activities | ||||||||
| Dividends Paid | $3.76B | $3.57B | $3.23B | $2.49B | $1.87B | $1.72B | $1.35B | $1.12B |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $-1.56B | $-1,000.0M | $1.32B | $115.8M | $-1.01B | $-372.2M | $-839.6M | $-1.23B |
| Net Change in Cash | $-172.9M | $788.2M | $251.9M | $-277.6M | $-42.0M | $-490.8M | $745.0M | $-103.2M |
| Free Cash Flow | — | — | — | — | — | — | — | — |
Those who do not remember the past are condemned to repeat it.