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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Rental Income $ 76,497 $ 72,092 $ 227,217 $ 216,115
Tenant Recoveries and Other Income 22,813 21,470 67,055 63,929
Total Revenues 99,310 93,562 294,272 280,044
Expenses:        
Property Expenses 28,452 27,539 83,835 82,781
General and Administrative 6,492 5,983 21,310 20,090
Acquisition Costs 0 119 0 338
Depreciation and Other Amortization 29,696 28,815 87,230 88,668
Total Expenses 64,640 62,456 192,375 191,877
Other Income (Expense):        
Gain on Sale of Real Estate 23,271 16,802 52,140 60,828
Interest Expense (14,376) (14,407) (43,660) (45,255)
Amortization of Deferred Financing Costs (778) (782) (2,336) (2,437)
Mark-to-Market Gain on Interest Rate Protection Agreements 1,848 0 1,848 0
Loss from Retirement of Debt 0 0 (1,653) 0
Total Other Income (Expense) 9,965 1,613 6,339 13,136
Income from Operations Before Income Tax Provision 44,635 32,719 108,236 101,303
Income Tax Benefit (Provision) 21 (51) (1,236) (232)
Net Income 44,656 32,668 107,000 101,071
Less: Net Income Attributable to the Noncontrolling Interest 1,458 1,149 3,531 3,635
Net Income Available to Common Stockholders / Unitholders and Participating Securities $ 43,198 $ 31,519 $ 103,469 $ 97,436
Basic Earnings Per Share / Unit:        
Net Income Available to Common Stockholders / Unitholders $ 0.36 $ 0.27 $ 0.88 $ 0.85
Diluted Earnings Per Share / Unit:        
Net Income Available to Common Stockholders / Unitholders 0.36 0.27 0.87 0.85
Dividends/Distributions Per Share/Unit $ 0.21 $ 0.19 $ 0.63 $ 0.57
Weighted Average Shares/Units Outstanding - Basic 119,446 116,467 117,870 114,491
Weighted Average Shares/Units Outstanding - Diluted 119,990 116,864 118,352 114,809
First Industrial, L.P.        
Revenues:        
Rental Income $ 76,497 $ 72,092 $ 227,217 $ 216,115
Tenant Recoveries and Other Income 22,813 21,470 67,055 63,929
Total Revenues 99,310 93,562 294,272 280,044
Expenses:        
Property Expenses 28,452 27,539 83,835 82,781
General and Administrative 6,492 5,983 21,310 20,090
Acquisition Costs 0 119 0 338
Depreciation and Other Amortization 29,696 28,815 87,230 88,668
Total Expenses 64,640 62,456 192,375 191,877
Other Income (Expense):        
Gain on Sale of Real Estate 23,271 16,802 52,140 60,828
Interest Expense (14,376) (14,407) (43,660) (45,255)
Amortization of Deferred Financing Costs (778) (782) (2,336) (2,437)
Mark-to-Market Gain on Interest Rate Protection Agreements 1,848 0 1,848 0
Loss from Retirement of Debt 0 0 (1,653) 0
Total Other Income (Expense) 9,965 1,613 6,339 13,136
Income from Operations Before Income Tax Provision 44,635 32,719 108,236 101,303
Income Tax Benefit (Provision) 21 (51) (1,236) (232)
Net Income 44,656 32,668 107,000 101,071
Less: Net Income Attributable to the Noncontrolling Interest 43 38 96 112
Net Income Available to Common Stockholders / Unitholders and Participating Securities $ 44,613 $ 32,630 $ 106,904 $ 100,959
Basic Earnings Per Share / Unit:        
Net Income Available to Common Stockholders / Unitholders $ 0.36 $ 0.27 $ 0.87 $ 0.85
Diluted Earnings Per Share / Unit:        
Net Income Available to Common Stockholders / Unitholders 0.36 0.27 0.87 0.84
Dividends/Distributions Per Share/Unit $ 0.21 $ 0.19 $ 0.63 $ 0.57
Weighted Average Shares/Units Outstanding - Basic 123,483 120,740 121,909 118,781
Weighted Average Shares/Units Outstanding - Diluted 124,027 121,137 122,391 119,099