Earnings Per Share and Earnings Per Unit ("EPS"/"EPU")

The computation of basic and diluted EPS of the Company is presented below:



	Three Months Ended September 30, 2017			Three Months Ended September 30, 2016			Nine Months Ended September 30, 2017			Nine Months Ended September 30, 2016
Numerator:
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities	$	43,198		$	31,519		$	103,469		$	97,436
Net Income Allocable to Participating Securities	(145		)	(110		)	(327		)	(329		)
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	43,053		$	31,409		$	103,142		$	97,107
Denominator (In Thousands):
Weighted Average Shares - Basic	119,446			116,467			117,870			114,491
Effect of Dilutive Securities:
LTIP Unit Awards (As Defined in Note 9)	544			397			482			318
Weighted Average Shares - Diluted	119,990			116,864			118,352			114,809
Basic EPS:
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	0.36		$	0.27		$	0.88		$	0.85
Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	0.36		$	0.27		$	0.87		$	0.85

The computation of basic and diluted EPU of the Operating Partnership is presented below:



	Three Months Ended September 30, 2017			Three Months Ended September 30, 2016			Nine Months Ended September 30, 2017			Nine Months Ended September 30, 2016
Numerator:
Net Income Available to Unitholders and Participating Securities	$	44,613		$	32,630		$	106,904		$	100,959
Net Income Allocable to Participating Securities	(145		)	(110		)	(327		)	(328		)
Net Income Available to Unitholders	$	44,468		$	32,520		$	106,577		$	100,631
Denominator (In Thousands):
Weighted Average Units - Basic	123,483			120,740			121,909			118,781
Effect of Dilutive Securities that Result in the Issuance of General Partner Units:
LTIP Unit Awards (As Defined in Note 9)	544			397			482			318
Weighted Average Units - Diluted	124,027			121,137			122,391			119,099
Basic EPU:
Net Income Available to Unitholders	$	0.36		$	0.27		$	0.87		$	0.85
Diluted EPU:
Net Income Available to Unitholders	$	0.36		$	0.27		$	0.87		$	0.84

Participating securities include 401,217 and 406,855 of unvested restricted stock or restricted Unit awards outstanding at September 30, 2017 and 2016, respectively, which participate in non-forfeitable distributions. Under the two class method, participating security holders are allocated income, in proportion to total weighted average shares or Units outstanding, based upon the greater of net income or common stock dividends or Unit distributions declared.