Earnings Per Share / Unit (EPS / EPU)

6 Months Ended

Jun. 30, 2022

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 June 30, 2022		Three Months Ended June 30, 2021		Six Months Ended June 30, 2022		Six Months Ended June 30, 2021
Numerator:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities	$	116,991	$	51,936	$	153,249	$	114,134
Net Income Allocable to Participating Securities	(103)		(61)		(134)		(122)
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	116,888	$	51,875	$	153,115	$	114,012
Denominator (In Thousands):
Weighted Average Shares - Basic	132,051		129,098		131,932		129,093
Effect of Dilutive Securities:
Performance Units (See Note 9)	55		89		65		86
Weighted Average Shares - Diluted	132,106		129,187		131,997		129,179
Basic EPS:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	0.89	$	0.40	$	1.16	$	0.88
Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	0.88	$	0.40	$	1.16	$	0.88

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


	Three Months Ended June 30, 2022		Three Months Ended June 30, 2021		Six Months Ended June 30, 2022		Six Months Ended June 30, 2021
Numerator:
Net Income Available to Unitholders and Participating Securities	$	119,419	$	53,140	$	156,524	$	116,705
Net Income Allocable to Participating Securities	(269)		(155)		(357)		(315)
Net Income Available to Unitholders	$	119,150	$	52,985	$	156,167	$	116,390
Denominator (In Thousands):
Weighted Average Units - Basic	134,278		131,188		134,176		131,180
Effect of Dilutive Securities:
Performance Units and certain Performance RLP Units (See Note 9)	312		516		367		489
Weighted Average Units - Diluted	134,590		131,704		134,543		131,669
Basic EPU:
Net Income Available to Unitholders	$	0.89	$	0.40	$	1.16	$	0.89
Diluted EPU:
Net Income Available to Unitholders	$	0.89	$	0.40	$	1.16	$	0.88

At June 30, 2022 and 2021, participating securities for the Company included 125,920 and 147,937, respectively, Service Awards (see Note 9), which participate in non-forfeitable distributions. At June 30, 2022 and 2021, participating securities for the Operating Partnership included 318,870 and 378,548, respectively, 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.