Earnings Per Share / Unit (EPS / EPU)

9 Months Ended

Sep. 30, 2020

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, 2020		Three Months Ended September 30, 2019		Nine Months Ended September 30, 2020		Nine Months Ended September 30, 2019
Numerator:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities	$	35,959	$	78,311	$	112,262	$	141,914
Net Income Allocable to Participating Securities	(59)		(170)		(177)		(319)
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	35,900	$	78,141	$	112,085	$	141,595
Denominator (In Thousands):
Weighted Average Shares - Basic	127,903		126,480		127,306		126,295
Effect of Dilutive Securities:
Performance Units (See Note 9)	198		303		189		283
Weighted Average Shares - Diluted	128,101		126,783		127,495		126,578
Basic and Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	0.28	$	0.62	$	0.88	$	1.12

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


	Three Months Ended September 30, 2020		Three Months Ended September 30, 2019		Nine Months Ended September 30, 2020		Nine Months Ended September 30, 2019
Numerator:
Net Income Available to Unitholders and Participating Securities	$	36,639	$	79,969	$	114,450	$	144,972
Net Income Allocable to Participating Securities	(125)		(249)		(374)		(453)
Net Income Available to Unitholders	$	36,514	$	79,720	$	114,076	$	144,519
Denominator (In Thousands):
Weighted Average Units - Basic	129,914		128,837		129,357		128,829
Effect of Dilutive Securities:
Performance Units and certain Performance RLP Units (See Note 6)	380		419		363		390
Weighted Average Units - Diluted	130,294		129,256		129,720		129,219
Basic and Diluted EPU:
Net Income Available to Unitholders	$	0.28	$	0.62	$	0.88	$	1.12

At September 30, 2020 and 2019, participating securities for the Company include 211,920 and 274,624, respectively, of Service Awards (see Note 9), which participate in non-forfeitable distributions. At September 30, 2020 and 2019, participating securities for the Operating Partnership include 444,407 and 400,181, respectively, of Service Awards and certain Performance Awards (See Note 9), 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.