Earnings Per Share / Unit (EPS / EPU)

12 Months Ended

Dec. 31, 2020

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

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


	Year Ended December 31, 2020		Year Ended December 31, 2019		Year Ended December 31, 2018
Numerator:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities	$	195,989	$	238,775	$	163,239
Net Income Allocable to Participating Securities	(314)		(518)		(513)
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	195,675	$	238,257	$	162,726
Denominator (In Thousands):
Weighted Average Shares - Basic	127,711		126,392		123,804
Effect of Dilutive Securities:
Performance Units (See Note 11)	193		299		387
Weighted Average Shares - Diluted	127,904		126,691		124,191
Basic EPS:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	1.53	$	1.89	$	1.31
Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	1.53	$	1.88	$	1.31

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


	Year Ended December 31, 2020		Year Ended December 31, 2019		Year Ended December 31, 2018
Numerator:
Net Income Available to Unitholders and Participating Securities	$	199,934	$	243,628	$	167,246
Net Income Allocable to Participating Securities	(662)		(732)		(513)
Net Income Available to Unitholders	$	199,272	$	242,896	$	166,733
Denominator (In Thousands):
Weighted Average Units - Basic	129,752		128,831		126,921
Effect of Dilutive Securities that Result in the Issuance of General Partner Units:
Performance Units and certain Performance RLP Units (See Note 11)	375		410		387
Weighted Average Units - Diluted	130,127		129,241		127,308
Basic EPU:
Net Income Available to Unitholders	$	1.54	$	1.89	$	1.31
Diluted EPU:
Net Income Available to Unitholders	$	1.53	$	1.88	$	1.31

At December 31, 2020, 2019 and 2018, participating securities for the Company include 211,920, 296,371 and 405,436, respectively, of Service Awards (see Note 11), which participate in non-forfeitable distributions. At December 31, 2020, 2019, and 2018, participating securities for the Operating Partnership include 444,407, 421,928 and 405,436, respectively, of Service Awards and certain Performance Awards (see Note 11), 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.