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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 83,868 $ 62,344
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Depreciation 46,160 46,751
Amortization of Debt Issuance Costs 1,700 1,558
Other Amortization, including Stock Based Compensation 13,638 14,939
Impairment of Real Estate 2,756 0
Provision for Bad Debt 165 127
Equity in Loss of Joint Venture 2 0
Gain on Sale of Real Estate (45,156) (28,869)
Loss from Retirement of Debt 39 1,653
Increase in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net (3,169) (938)
Increase in Deferred Rent Receivable, Net (1,016) (2,936)
Decrease in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits (5,170) (729)
Net Cash Provided by Operating Activities 93,817 93,900
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions of Real Estate (87,733) (96,492)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs (121,169) (72,125)
Net Proceeds from Sales of Investments in Real Estate 95,603 56,773
Contributions to and Investments in Joint Venture (25,190) 0
Distributions from Joint Venture 1,829 0
Other Investing Activity (2,823) (1,117)
Net Cash Used in Investing Activities (139,483) (112,961)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Financing and Equity Issuance Costs (2,842) (1,829)
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount 145,584 74,880
Repurchase and Retirement of Restricted Stock (6,020) (2,401)
Common Stock Dividends and Unit Distributions Paid (53,561) (48,493)
Repayments on Mortgage Loans Payable (161,964) (41,507)
Prepayments of Penalties Associated with Retirement of Debt 0 (1,453)
Proceeds from Senior Unsecured Notes 300,000 200,000
Repayments of Senior Unsecured Notes 0 (101,871)
Proceeds from Unsecured Credit Facility 217,000 262,000
Repayments on Unsecured Credit Facility (361,500) (324,500)
Net Cash Provided by Financing Activities 76,697 14,826
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 31,031 (4,235)
Cash, Cash Equivalents and Restricted Cash, Beginning of Year 46,482 21,461
Cash, Cash Equivalents and Restricted Cash, End of Period 77,513 17,226
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:    
Interest Expense Capitalized in Connection with Development Activity 3,317 1,907
Supplemental Schedule of Non-Cash Investing and Financing Activities:    
Dividends and Distributions Payable 28,771 26,715
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 Indebtedness and Other Liabilities in Connection with the Acquisition of Real Estate 11,705 305
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate 27,797 19,786
Write-off of Fully Depreciated Assets (22,936) (15,295)
Noncontrolling Interest    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income 2,367  
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units (12,327) 0
Common Stock    
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units 10 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 12,317 0
Common Stock    
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount 145,584  
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units 12,327  
First Industrial, L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income 83,868 62,344
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Depreciation 46,160 46,751
Amortization of Debt Issuance Costs 1,700 1,558
Other Amortization, including Stock Based Compensation 13,638 14,939
Impairment of Real Estate 2,756 0
Provision for Bad Debt 165 127
Equity in Loss of Joint Venture 2 0
Gain on Sale of Real Estate (45,156) (28,869)
Loss from Retirement of Debt 39 1,653
Increase in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net (3,226) (876)
Increase in Deferred Rent Receivable, Net (1,016) (2,936)
Decrease in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits (5,170) (729)
Net Cash Provided by Operating Activities 93,760 93,962
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions of Real Estate (87,733) (96,492)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs (121,169) (72,125)
Net Proceeds from Sales of Investments in Real Estate 95,603 56,773
Contributions to and Investments in Joint Venture (25,190) 0
Distributions from Joint Venture 1,829 0
Other Investing Activity (2,823) (1,117)
Net Cash Used in Investing Activities (139,483) (112,961)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Financing and Equity Issuance Costs (2,842) (1,829)
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount 145,584 74,880
Repurchase and Retirement of Restricted Stock (6,020) (2,401)
Common Stock Dividends and Unit Distributions Paid (53,561) (48,493)
Contributions from Noncontrolling Interests 121 20
Distributions to Noncontrolling Interests (64) (82)
Repayments on Mortgage Loans Payable (161,964) (41,507)
Prepayments of Penalties Associated with Retirement of Debt 0 (1,453)
Proceeds from Senior Unsecured Notes 300,000 200,000
Repayments of Senior Unsecured Notes 0 (101,871)
Proceeds from Unsecured Credit Facility 217,000 262,000
Repayments on Unsecured Credit Facility (361,500) (324,500)
Net Cash Provided by Financing Activities 76,754 14,764
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash 31,031 (4,235)
Cash, Cash Equivalents and Restricted Cash, Beginning of Year 46,482 21,461
Cash, Cash Equivalents and Restricted Cash, End of Period 77,513 17,226
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:    
Interest Expense Capitalized in Connection with Development Activity 3,317 1,907
Supplemental Schedule of Non-Cash Investing and Financing Activities:    
Dividends and Distributions Payable 28,771 26,715
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 Indebtedness and Other Liabilities in Connection with the Acquisition of Real Estate 11,705 305
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate 27,797 19,786
Write-off of Fully Depreciated Assets (22,935) (15,295)
First Industrial, L.P. | Limited Partner Units    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income 2,367  
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units (12,327) 0
First Industrial, L.P. | General Partner Units    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income 81,458  
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units $ 12,327 $ 0