Earnings Per Share / Unit (EPS / EPU) (Tables)

12 Months Ended

Dec. 31, 2016

Computation of Basic and Diluted Earnings Per Share / Unit

The computation of basic and diluted EPS of the Company is presented below:

	Year Ended December 31, 2016			Year Ended December 31, 2015			Year Ended December 31, 2014
Numerator:
Income from Continuing Operations	$	125,684		$	76,705		$	23,182
Noncontrolling Interest Allocable to Continuing Operations	(4,452		)	(2,903		)	(813		)
Income from Continuing Operations Allocable to Participating Securities	(411		)	(248		)	(75		)
Income from Continuing Operations Attributable to First Industrial Realty Trust, Inc.	120,821			73,554			22,294
Preferred Dividends	—			—			(1,019		)
Redemption of Preferred Stock	—			—			(1,462		)
Income from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	120,821		$	73,554		$	19,813
Income from Discontinued Operations	$	—		$	—		$	27,823
Noncontrolling Interest Allocable to Discontinued Operations	—			—			(1,082		)
Income from Discontinued Operations Allocable to Participating Securities	—			—			(100		)
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.	$	—		$	—		$	26,641
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities	$	121,232		$	73,802		$	46,629
Net Income Allocable to Participating Securities	(411		)	(248		)	(175		)
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	120,821		$	73,554		$	46,454
Denominator (In Thousands):
Weighted Average Shares - Basic	115,030			110,352			109,922
Effect of Dilutive Securities:
LTIP Unit Awards (As Defined in Note 11)	340			429			403
Weighted Average Shares - Diluted	115,370			110,781			110,325
Basic EPS:
Income from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	1.05		$	0.67		$	0.18
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders	$	—		$	—		$	0.24
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	1.05		$	0.67		$	0.42
Diluted EPS:
Income from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	1.05		$	0.66		$	0.18
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders	$	—		$	—		$	0.24
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	1.05		$	0.66		$	0.42

First Industrial, L.P.

Computation of Basic and Diluted Earnings Per Share / Unit

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

	Year Ended December 31, 2016			Year Ended December 31, 2015			Year Ended December 31, 2014
Numerator:
Income from Continuing Operations	$	125,684		$	76,820		$	23,434
Noncontrolling Interest Allocable to Continuing Operations	(137		)	(138		)	(62		)
Income from Continuing Operations Allocable to Participating Securities	(410		)	(248		)	(75		)
Income from Continuing Operations Attributable to Unitholders	125,137			76,434			23,297
Preferred Unit Distributions	—			—			(1,019		)
Redemption of Preferred Units	—			—			(1,462		)
Income from Continuing Operations Available to Unitholders	$	125,137		$	76,434		$	20,816
Income from Discontinued Operations	$	—		$	—		$	27,823
Noncontrolling Interest Allocable to Discontinued Operations	—			—			(10		)
Income from Discontinued Operations Allocable to Participating Securities	—			—			(100		)
Income from Discontinued Operations Attributable to Unitholders	$	—		$	—		$	27,713
Net Income Available to Unitholders and Participating Securities	$	125,547		$	76,682		$	48,704
Net Income Allocable to Participating Securities	(410		)	(248		)	(175		)
Net Income Available to Unitholders	$	125,137		$	76,434		$	48,529
Denominator (In Thousands):
Weighted Average Units - Basic	119,274			114,709			114,388
Effect of Dilutive Securities that Result in the Issuance of General Partner Units:
LTIP Unit Awards (As Defined in Note 11)	340			429			403
Weighted Average Units - Diluted	119,614			115,138			114,791
Basic EPU:
Income from Continuing Operations Available to Unitholders	$	1.05		$	0.67		$	0.18
Income from Discontinued Operations Attributable to Unitholders	$	—		$	—		$	0.24
Net Income Available to Unitholders	$	1.05		$	0.67		$	0.42
Diluted EPU:
Income from Continuing Operations Available to Unitholders	$	1.05		$	0.66		$	0.18
Income from Discontinued Operations Attributable to Unitholders	$	—		$	—		$	0.24
Net Income Available to Unitholders	$	1.05		$	0.66		$	0.42