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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues      
Lease Revenue $ 602,294 $ 532,237 $ 473,236
Joint Venture Fees 5,159 1,322 321
Other Revenue 6,574 6,370 2,733
Total Revenues 614,027 539,929 476,290
Expenses:      
Property Expenses 165,655 143,663 131,300
General and Administrative 37,121 33,972 34,610
Joint Venture Development Services Expense 3,667 909 0
Depreciation and Other Amortization 162,951 147,420 130,953
Total Expenses 369,394 325,964 296,863
Other Income (Expense):      
Gain on Sale of Real Estate 95,650 128,268 150,310
Interest Expense (74,335) (49,013) (44,103)
Amortization of Debt Issuance Costs (3,626) (3,187) (3,423)
Total Other Income (Expense) 17,689 76,068 102,784
Income from Operations Before Equity in Income (Loss) of Joint Ventures and Income Tax Provision 262,322 290,033 282,211
Equity in Income (Loss) of Joint Ventures 32,207 114,942 (161)
Income Tax Provision (8,692) (23,363) (4,879)
Net Income 285,837 381,612 277,171
Less: Net Income Attributable to the Noncontrolling Interests (11,021) (22,478) (6,174)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 274,816 359,134 270,997
Net Income Allocable to Participating Securities (232) (348) (299)
Net Income Available to Common Stockholders / Unitholders $ 274,584 $ 358,786 $ 270,698
Basic Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.08 $ 2.72 $ 2.09
Diluted Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.07 $ 2.72 $ 2.09
Weighted Average Shares/Units Outstanding - Basic 132,264 132,024 129,688
Weighted Average Shares / Units Outstanding - Diluted 132,341 132,103 129,775
First Industrial, L.P.      
Revenues      
Lease Revenue $ 602,294 $ 532,237 $ 473,236
Joint Venture Fees 5,159 1,322 321
Other Revenue 6,574 6,370 2,733
Total Revenues 614,027 539,929 476,290
Expenses:      
Property Expenses 165,655 143,663 131,300
General and Administrative 37,121 33,972 34,610
Joint Venture Development Services Expense 3,667 909 0
Depreciation and Other Amortization 162,951 147,420 130,953
Total Expenses 369,394 325,964 296,863
Other Income (Expense):      
Gain on Sale of Real Estate 95,650 128,268 150,310
Interest Expense (74,335) (49,013) (44,103)
Amortization of Debt Issuance Costs (3,626) (3,187) (3,423)
Total Other Income (Expense) 17,689 76,068 102,784
Income from Operations Before Equity in Income (Loss) of Joint Ventures and Income Tax Provision 262,322 290,033 282,211
Equity in Income (Loss) of Joint Ventures 32,207 114,942 (161)
Income Tax Provision (8,692) (23,363) (4,879)
Net Income 285,837 381,612 277,171
Less: Net Income Attributable to the Noncontrolling Interests (4,136) (14,093) (133)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 281,701 367,519 277,038
Net Income Allocable to Participating Securities (551) (877) (770)
Net Income Available to Common Stockholders / Unitholders $ 281,150 $ 366,642 $ 276,268
Basic Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.09 $ 2.73 $ 2.10
Diluted Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.08 $ 2.72 $ 2.09
Weighted Average Shares/Units Outstanding - Basic 134,777 134,229 131,740
Weighted Average Shares / Units Outstanding - Diluted 135,249 134,681 132,237