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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Lease Revenue $ 473,236 $ 437,543 $ 422,236
Other Revenue 3,054 10,485 3,748
Total Revenues 476,290 448,028 425,984
Expenses:      
Property Expenses 131,300 119,195 116,585
General and Administrative 34,610 32,848 28,569
Depreciation and Other Amortization 130,953 129,638 121,229
Total Expenses 296,863 281,681 266,383
Other Income (Expense):      
Gain on Sale of Real Estate 150,310 86,751 124,942
Interest Expense (44,103) (51,293) (50,273)
Amortization of Debt Issuance Costs (3,423) (3,428) (3,218)
Total Other Income (Expense) 102,784 32,030 71,451
Income from Operations Before Equity in (Loss) Income of Joint Ventures and Income Tax Provision 282,211 198,377 231,052
Equity in (Loss) Income of Joint Ventures (161) 4,200 16,235
Income Tax Provision (4,879) (2,408) (3,406)
Net Income 277,171 200,169 243,881
Less: Net Income Attributable to the Noncontrolling Interests (6,174) (4,180) (5,106)
Net Income Available to Common Stockholders / Unitholders and Participating Securities $ 270,997 $ 195,989 $ 238,775
Basic Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.09 $ 1.53 $ 1.89
Diluted Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.09 $ 1.53 $ 1.88
Weighted Average Shares/Units Outstanding - Basic 129,688 127,711 126,392
Weighted Average Shares / Units Outstanding - Diluted 129,775 127,904 126,691
First Industrial, L.P.      
Revenues      
Lease Revenue $ 473,236 $ 437,543 $ 422,236
Other Revenue 3,054 10,485 3,748
Total Revenues 476,290 448,028 425,984
Expenses:      
Property Expenses 131,300 119,195 116,585
General and Administrative 34,610 32,848 28,569
Depreciation and Other Amortization 130,953 129,638 121,229
Total Expenses 296,863 281,681 266,383
Other Income (Expense):      
Gain on Sale of Real Estate 150,310 86,751 124,942
Interest Expense (44,103) (51,293) (50,273)
Amortization of Debt Issuance Costs (3,423) (3,428) (3,218)
Total Other Income (Expense) 102,784 32,030 71,451
Income from Operations Before Equity in (Loss) Income of Joint Ventures and Income Tax Provision 282,211 198,377 231,052
Equity in (Loss) Income of Joint Ventures (161) 4,200 16,235
Income Tax Provision (4,879) (2,408) (3,406)
Net Income 277,171 200,169 243,881
Less: Net Income Attributable to the Noncontrolling Interests (133) (235) (253)
Net Income Available to Common Stockholders / Unitholders and Participating Securities $ 277,038 $ 199,934 $ 243,628
Basic Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.10 $ 1.54 $ 1.89
Diluted Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.09 $ 1.53 $ 1.88
Weighted Average Shares/Units Outstanding - Basic 131,740 129,752 128,831
Weighted Average Shares / Units Outstanding - Diluted 132,237 130,127 129,241