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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income $ 125,684 $ 76,705 $ 51,005
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Depreciation 95,514 92,955 93,457
Amortization of Deferred Financing Costs 3,219 3,159 3,098
Other Amortization, including Stock Based Compensation 28,403 28,359 30,218
Impairment of Real Estate 0 626 0
Provision for Bad Debt 563 954 1,425
Equity in Income of Joint Ventures 0 (55) (3,499)
Distributions from Joint Ventures 0 0 1,881
Gain on Sale of Real Estate [1] (68,202) (48,906) (25,905)
Loss from Retirement of Debt 0 0 655
Mark-to-Market Loss on Interest Rate Protection Agreements 0 11,546 0
Decrease (Increase) in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net 965 (2,686) (2,582)
Increase in Deferred Rent Receivable, Net (6,602) (6,181) (2,715)
(Decrease) Increase in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits (5,655) 5,673 452
Payments of Discounts and Prepayment Penalties Associated with Retirement of Debt (554) 0 (10,650)
Cash Book Overdraft 0 0 336
Net Cash Provided by Operating Activities 173,335 162,149 137,176
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisitions of Real Estate (107,484) (168,122) (96,045)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs (179,994) (150,079) (123,037)
Net Proceeds from Sales of Investments in Real Estate 163,435 154,024 98,472
Contributions to and Investments in Joint Ventures 0 (200) (31)
Distributions from Joint Ventures 0 126 2,475
Settlement of Interest Rate Protection Agreements 0 (11,546) 0
Repayments of Notes Receivable 43 2,760 49,761
Decrease (Increase) in Escrows 13,008 (24,037) (664)
Net Cash Used in Investing Activities (110,992) (197,074) (69,069)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Financing and Equity Issuance and Preferred Stock/Unit Redemption Costs (375) (5,158) (2,419)
Proceeds from the Issuance of Common Stock/Contribution of General Partner Units 124,936 0 0
Repurchase and Retirement of Restricted Stock/Units (5,242) (2,101) (4,667)
Common Stock Dividends and Unit Distributions Paid (82,696) (55,811) (45,151)
Preferred Dividends/Unit Distributions Paid 0 0 (1,471)
Redemption of Preferred Stock/Units 0 0 (75,000)
Repayments on Mortgage Loans Payable (70,969) (35,004) (77,880)
Repayments of Senior Unsecured Notes (159,125) 0 (71,578)
Proceeds from Unsecured Term Loans 0 260,000 200,000
Proceeds from Unsecured Credit Facility 442,000 321,500 356,000
Repayments on Unsecured Credit Facility (305,000) (454,000) (344,000)
Net Cash (Used in) Provided by Financing Activities (56,471) 29,426 (66,166)
Net Effect of Exchange Rate Changes on Cash and Cash Equivalents 0 (14) (18)
Net Increase (Decrease) in Cash and Cash Equivalents 5,872 (5,499) 1,941
Cash and Cash Equivalents, Beginning of Year 3,987 9,500 7,577
Cash and Cash Equivalents, End of Year 9,859 3,987 9,500
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:      
Interest Paid, Net of Interest Expense Capitalized in Connection with Development Activity 63,600 66,452 70,194
Interest Expense Capitalized in Connection with Development Activity 3,523 2,453 1,411
Income Taxes Paid (Refunded) 1,358 23 (105)
Supplemental Schedule of Non-Cash Investing and Financing Activities:      
Dividends and Distributions Payable 23,434 14,812 11,949
Exchange of Limited Partner Units for Common Stock/General Partner Units      
Exchange of Limited Partner Units for Common Stock/General Partner Units 0 0 0
Assumption of Indebtedness and Other Liabilities in Connection with the Acquisition of Real Estate 5,405 2,090 364
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate 32,712 25,747 14,901
Write-off of Fully Depreciated Assets (44,080) (45,457) (44,769)
Noncontrolling Interest      
Exchange of Limited Partner Units for Common Stock/General Partner Units      
Exchange of Limited Partner Units for Common Stock/General Partner Units (2,862) (673) (2,155)
Common Stock      
Exchange of Limited Partner Units for Common Stock/General Partner Units      
Exchange of Limited Partner Units for Common Stock/General Partner Units 3 1 2
Additional Paid-in- Capital      
Exchange of Limited Partner Units for Common Stock/General Partner Units      
Exchange of Limited Partner Units for Common Stock/General Partner Units 2,859 672 2,153
First Industrial, L.P.      
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income 125,684 76,820 51,257
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Depreciation 95,514 92,955 93,457
Amortization of Deferred Financing Costs 3,219 3,159 3,098
Other Amortization, including Stock Based Compensation 28,403 28,359 30,218
Impairment of Real Estate 0 626 0
Provision for Bad Debt 563 954 1,425
Equity in Income of Joint Ventures 0 (55) (3,499)
Distributions from Joint Ventures 0 0 1,881
Gain on Sale of Real Estate (68,202) (48,906) (25,905)
Loss from Retirement of Debt 0 0 655
Mark-to-Market Loss on Interest Rate Protection Agreements 0 11,546 0
Decrease (Increase) in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net 1,242 (2,673) (2,039)
Increase in Deferred Rent Receivable, Net (6,602) (6,181) (2,715)
(Decrease) Increase in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits (5,655) 5,682 399
Payments of Discounts and Prepayment Penalties Associated with Retirement of Debt (554) 0 (10,650)
Cash Book Overdraft 0 0 336
Net Cash Provided by Operating Activities 173,612 162,286 137,918
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisitions of Real Estate (107,484) (168,122) (96,045)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs (179,994) (150,079) (123,037)
Net Proceeds from Sales of Investments in Real Estate 163,435 154,024 98,472
Contributions to and Investments in Joint Ventures 0 (200) (31)
Distributions from Joint Ventures 0 126 2,475
Settlement of Interest Rate Protection Agreements 0 (11,546) 0
Repayments of Notes Receivable 43 2,760 49,761
Decrease (Increase) in Escrows 13,008 (24,037) (1,319)
Net Cash Used in Investing Activities (110,992) (197,074) (69,724)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Financing and Equity Issuance and Preferred Stock/Unit Redemption Costs (375) (5,158) (2,419)
Proceeds from the Issuance of Common Stock/Contribution of General Partner Units 124,936 0 0
Repurchase and Retirement of Restricted Stock/Units (5,242) (2,101) (4,667)
Common Stock Dividends and Unit Distributions Paid (82,696) (55,811) (45,151)
Preferred Dividends/Unit Distributions Paid 0 0 (1,471)
Redemption of Preferred Stock/Units 0 0 (75,000)
Contributions from Noncontrolling Interests 123 67 335
Distributions to Noncontrolling Interests (400) (189) (422)
Repayments on Mortgage Loans Payable (70,969) (35,004) (77,880)
Repayments of Senior Unsecured Notes (159,125) 0 (71,578)
Proceeds from Unsecured Term Loans 0 260,000 200,000
Proceeds from Unsecured Credit Facility 442,000 321,500 356,000
Repayments on Unsecured Credit Facility (305,000) (454,000) (344,000)
Net Cash (Used in) Provided by Financing Activities (56,748) 29,304 (66,253)
Net Effect of Exchange Rate Changes on Cash and Cash Equivalents 0 (14) (18)
Net Increase (Decrease) in Cash and Cash Equivalents 5,872 (5,484) 1,941
Cash and Cash Equivalents, Beginning of Year 3,987 9,485 7,562
Cash and Cash Equivalents, End of Year 9,859 3,987 9,485
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:      
Interest Paid, Net of Interest Expense Capitalized in Connection with Development Activity 63,600 66,452 70,194
Interest Expense Capitalized in Connection with Development Activity 3,523 2,453 1,411
Income Taxes Paid (Refunded) 1,358 23 (105)
Supplemental Schedule of Non-Cash Investing and Financing Activities:      
Dividends and Distributions Payable 23,434 14,812 11,949
Exchange of Limited Partner Units for Common Stock/General Partner Units      
Exchange of Limited Partner Units for Common Stock/General Partner Units 0 0 0
Assumption of Indebtedness and Other Liabilities in Connection with the Acquisition of Real Estate 5,405 2,090 364
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate 32,712 25,747 14,901
Write-off of Fully Depreciated Assets (44,080) (45,457) (44,769)
First Industrial, L.P. | Limited Partner Units      
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income 4,452 2,903 1,895
Exchange of Limited Partner Units for Common Stock/General Partner Units      
Exchange of Limited Partner Units for Common Stock/General Partner Units (2,862) (673) (2,155)
First Industrial, L.P. | General Partner Units      
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income 121,095 73,779 46,809
Exchange of Limited Partner Units for Common Stock/General Partner Units      
Exchange of Limited Partner Units for Common Stock/General Partner Units $ 2,862 $ 673 $ 2,155
[1] (A) Gross proceeds from the sale of real estate and gain on sale of real estate includes the sale of several land parcels for years ended December 31, 2015 and 2014.