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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 60,775 $ 37,123
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Depreciation 31,650 28,159
Amortization of Debt Issuance Costs 904 756
Other Amortization, Including Equity Based Compensation 7,502 8,330
Equity in (Income) Loss of Joint Venture (27,634) 22
Distributions from the Joint Venture 5,208 0
Straight-line Rental Income and Expense, Net (5,498) (4,247)
Increase in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net (12,357) (8,692)
Increase (Decrease) in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits 9,768 (1,553)
Net Cash Provided by Operating Activities 70,318 59,898
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions of Real Estate (5,559) (83,391)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs (94,336) (115,666)
Contributions to and Investments in Joint Venture (2,973) (1,383)
Increase in Escrow Deposits and Other Investing Activity (1,260) (2,580)
Net Cash Used in Investing Activities (104,128) (203,020)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Financing and Equity Issuance Costs 0 (7)
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount 0 12,823
Tax Paid on Vested Equity Compensation (2,459) (2,942)
Common Stock Dividends and Unit Distributions Paid (39,713) (36,206)
Contributions from Noncontrolling Interests 0 103
Distributions to Noncontrolling Interests (11,358) 0
Repayments on Mortgage Loans Payable (79) (784)
Proceeds from Unsecured Credit Facility 80,000 168,000
Repayments on Unsecured Credit Facility (66,000) (12,000)
Net Cash (Used in) Provided by Financing Activities (39,609) 128,987
Net Decrease in Cash, Cash Equivalents and Restricted Cash (73,419) (14,135)
Cash, Cash Equivalents and Restricted Cash, Beginning of Year 145,118 58,780
Cash, Cash Equivalents and Restricted Cash, End of Period 71,699 44,645
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:    
Interest Expense Capitalized in Connection with Development Activity and Joint Venture Investment 3,981 4,069
Cash Paid for Operating Lease Liabilities 861 807
Supplemental Schedule of Non-Cash Operating Activities:    
Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets 56 0
Supplemental Schedule of Non-Cash Investing and Financing Activities:    
Dividends and Distributions Payable 44,061 40,298
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units 0 0
Assumption of Liabilities in Connection with the Acquisition of Real Estate 1 151
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate 60,410 105,390
Tenant Improvements Funded by Tenant 2,528 0
Write-off of Fully Depreciated Assets (10,331) (5,428)
Noncontrolling Interests    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income 4,808 865
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units (513) (36)
Common Stock    
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units 0 0
Additional Paid-in Capital    
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units 513 36
First Industrial, L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income 60,775 37,123
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Depreciation 31,650 28,159
Amortization of Debt Issuance Costs 904 756
Other Amortization, Including Equity Based Compensation 7,502 8,330
Equity in (Income) Loss of Joint Venture (27,634) 22
Distributions from the Joint Venture 5,208 0
Straight-line Rental Income and Expense, Net (5,498) (4,247)
Increase in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net (12,357) (8,661)
Increase (Decrease) in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits 9,768 (1,553)
Net Cash Provided by Operating Activities 70,318 59,929
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions of Real Estate (5,559) (83,391)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs (94,336) (115,666)
Contributions to and Investments in Joint Venture (2,973) (1,383)
Increase in Escrow Deposits and Other Investing Activity (1,260) (2,580)
Net Cash Used in Investing Activities (104,128) (203,020)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Financing and Equity Issuance Costs 0 (7)
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount 0 12,823
Tax Paid on Vested Equity Compensation (2,459) (2,942)
Common Stock Dividends and Unit Distributions Paid (39,713) (36,206)
Contributions from Noncontrolling Interests 1 112
Distributions to Noncontrolling Interests (11,359) (40)
Repayments on Mortgage Loans Payable (79) (784)
Proceeds from Unsecured Credit Facility 80,000 168,000
Repayments on Unsecured Credit Facility (66,000) (12,000)
Net Cash (Used in) Provided by Financing Activities (39,609) 128,956
Net Decrease in Cash, Cash Equivalents and Restricted Cash (73,419) (14,135)
Cash, Cash Equivalents and Restricted Cash, Beginning of Year 145,118 58,780
Cash, Cash Equivalents and Restricted Cash, End of Period 71,699 44,645
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:    
Interest Expense Capitalized in Connection with Development Activity and Joint Venture Investment 3,981 4,069
Cash Paid for Operating Lease Liabilities 861 807
Supplemental Schedule of Non-Cash Operating Activities:    
Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets 56 0
Supplemental Schedule of Non-Cash Investing and Financing Activities:    
Dividends and Distributions Payable 44,061 40,298
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units 0 0
Assumption of Liabilities in Connection with the Acquisition of Real Estate 1 151
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate 60,410 105,390
Tenant Improvements Funded by Tenant 2,528 0
Write-off of Fully Depreciated Assets (10,331) (5,428)
First Industrial, L.P. | Limited Partner Units    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income 1,447 868
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units (513) (36)
First Industrial, L.P. | General Partner Units    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income 55,947 36,237
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units $ 513 $ 36