10. Earnings Per Share (EPS)

The computation of basic and diluted EPS is presented below:



	Year Ended December 31, 2013			Year Ended December 31, 2012			Year Ended December 31, 2011
Numerator:
Income (Loss) from Continuing Operations	$	4,941		$	(22,459	)	$	(33,631	)
Gain on Sale of Real Estate, Net of Income Tax Provision	890			3,777			918
Noncontrolling Interest Allocable to Continuing Operations	356			2,038			3,185
Income (Loss) from Continuing Operations Attributable to First Industrial Realty Trust, Inc.	6,187			(16,644		)	(29,528		)
Preferred Dividends	(8,733		)	(18,947		)	(19,565		)
Redemption of Preferred Stock	(5,667		)	(1,804		)	—
Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	(8,213	)	$	(37,395	)	$	(49,093	)
Income from Discontinued Operations, Net of Income Tax Provision	$	35,597		$	16,163		$	23,523
Noncontrolling Interest Allocable to Discontinued Operations	(1,477		)	(837		)	(1,440		)
Income from Discontinued Operations Allocable to Participating Securities	(162		)	—			—
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.	$	33,958		$	15,326		$	22,083
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities	$	25,907		$	(22,069	)	$	(27,010	)
Net Income Allocable to Participating Securities	(162		)	—			—
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders	25,745			(22,069		)	(27,010		)
Denominator:
Weighted Average Shares—Basic and Diluted	106,995			91,468			80,616
Basic and Diluted EPS:
Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	(0.08	)	$	(0.41	)	$	(0.61	)
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders	$	0.32		$	0.17		$	0.27
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	0.24		$	(0.24	)	$	(0.34	)

Participating securities include 488,861, 288,627 and 673,381 of unvested restricted stock awards outstanding at December 31, 2013, 2012 and 2011, respectively, which participate in non-forfeitable dividends of the Company. Under the two class method, participating security holders are allocated income, in proportion to total weighted average shares outstanding, based upon the greater of net income (after reduction for preferred dividends and redemption of preferred stock) or common dividends declared. Since participating security holders are not obligated to share in losses and no common dividends were declared during the years ended December 31, 2012 and 2011, there was no allocation of income to participating security holders for the years ended December 31, 2012 and 2011.

The number of weighted average shares—diluted is the same as the number of weighted average shares—basic for the years ended December 31, 2013, 2012 and 2011, as the effect of LTIP Unit Awards (as defined in Note 14) which do not participate in non-forfeitable dividends of the Company was excluded as its inclusion would have been antidilutive to the loss from continuing operations available to First Industrial Realty Trust, Inc.’s common stockholders. The following awards could be dilutive in future periods:



	Number of Awards Outstanding At December 31, 2013	Number of Awards Outstanding At December 31, 2012	Number of Awards Outstanding At December 31, 2011
Non-Participating Securities:
Restricted Unit Awards	73,400	483,500	731,900
Options	—	—	25,201
LTIP Unit Awards	718,960	—	—