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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenues:        
Rental Income $ 72,092 $ 71,148 $ 216,115 $ 209,244
Tenant Recoveries and Other Income 21,470 21,011 63,929 63,370
Total Revenues 93,562 92,159 280,044 272,614
Expenses:        
Property Expenses 27,539 28,044 82,781 85,662
General and Administrative 5,983 5,900 20,090 19,026
Acquisition Costs 119 45 338 364
Impairment of Real Estate 0 626 0 626
Depreciation and Other Amortization 28,815 28,589 88,668 84,939
Total Expenses 62,456 63,204 191,877 190,617
Other Income (Expense):        
Gain on Sale of Real Estate 16,802 2,957 60,828 13,084
Interest Expense (14,407) (16,674) (45,255) (49,679)
Amortization of Deferred Financing Costs (782) (781) (2,437) (2,291)
Mark-to-Market and Settlement Loss on Interest Rate Protection Agreements 0 0 0 (11,546)
Total Other Income (Expense) 1,613 (14,498) 13,136 (50,432)
Income from Continuing Operations Before Equity in (Loss) Income of Joint Ventures and Income Tax (Provision) Benefit 32,719 14,457 101,303 31,565
Equity in (Loss) Income of Joint Ventures 0 (6) 0 61
Income Tax (Provision) Benefit (51) 14 (232) (127)
Net Income 32,668 14,465 101,071 31,499
Less: Net Income Attributable to the Noncontrolling Interest (1,149) (548) (3,635) (1,197)
Net Income Available to Common Stockholders/Unitholders and Participating Securities $ 31,519 $ 13,917 $ 97,436 $ 30,302
Basic Earnings Per Share / Unit:        
Net Income Available to Common Stockholders/Unitholders $ 0.27 $ 0.13 $ 0.85 $ 0.27
Diluted Earnings Per Share / Unit:        
Net Income Available to Common Stockholders/Unitholders 0.27 0.13 0.85 0.27
Dividends/Distributions Per Share/Unit $ 0.19 $ 0.1275 $ 0.57 $ 0.3825
Weighted Average Shares/Units Outstanding - Basic 116,467 110,356 114,491 110,338
Weighted Average Shares/Units Outstanding - Diluted 116,864 110,848 114,809 110,735
First Industrial, L.P.        
Revenues:        
Rental Income $ 72,092 $ 71,148 $ 216,115 $ 209,244
Tenant Recoveries and Other Income 21,470 21,011 63,929 63,370
Total Revenues 93,562 92,159 280,044 272,614
Expenses:        
Property Expenses 27,539 28,044 82,781 85,662
General and Administrative 5,983 5,900 20,090 18,911
Acquisition Costs 119 45 338 364
Impairment of Real Estate 0 626 0 626
Depreciation and Other Amortization 28,815 28,589 88,668 84,939
Total Expenses 62,456 63,204 191,877 190,502
Other Income (Expense):        
Gain on Sale of Real Estate 16,802 2,957 60,828 13,084
Interest Expense (14,407) (16,674) (45,255) (49,679)
Amortization of Deferred Financing Costs (782) (781) (2,437) (2,291)
Mark-to-Market and Settlement Loss on Interest Rate Protection Agreements 0 0 0 (11,546)
Total Other Income (Expense) 1,613 (14,498) 13,136 (50,432)
Income from Continuing Operations Before Equity in (Loss) Income of Joint Ventures and Income Tax (Provision) Benefit 32,719 14,457 101,303 31,680
Equity in (Loss) Income of Joint Ventures 0 (6) 0 61
Income Tax (Provision) Benefit (51) 14 (232) (127)
Net Income 32,668 14,465 101,071 31,614
Less: Net Income Attributable to the Noncontrolling Interest (38) (27) (112) (75)
Net Income Available to Common Stockholders/Unitholders and Participating Securities $ 32,630 $ 14,438 $ 100,959 $ 31,539
Basic Earnings Per Share / Unit:        
Net Income Available to Common Stockholders/Unitholders $ 0.27 $ 0.13 $ 0.85 $ 0.27
Diluted Earnings Per Share / Unit:        
Net Income Available to Common Stockholders/Unitholders 0.27 0.12 0.84 0.27
Dividends/Distributions Per Share/Unit $ 0.19 $ 0.1275 $ 0.57 $ 0.3825
Weighted Average Shares/Units Outstanding - Basic 120,740 114,720 118,781 114,705
Weighted Average Shares/Units Outstanding - Diluted 121,137 115,212 119,099 115,102