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Earnings Per Share / Unit (EPS / EPU)
3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share / Unit (EPS / EPU)
Earnings Per Share and Earnings Per Unit ("EPS"/"EPU")
The computation of basic and diluted EPS of the Company is presented below: 
 
Three Months Ended March 31, 2019
 
Three Months Ended March 31, 2018
Numerator:
 
 
 
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities
$
23,803

 
$
36,292

Net Income Allocable to Participating Securities
(60
)
 
(97
)
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders
$
23,743

 
$
36,195

Denominator (In Thousands):
 
 
 
Weighted Average Shares - Basic
126,194

 
119,846

Effect of Dilutive Securities:
 
 
 
        Performance units (See Note 9)
262

 
365

Weighted Average Shares - Diluted
126,456

 
120,211

Basic and Diluted EPS:
 
 
 
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders
$
0.19

 
$
0.30


The computation of basic and diluted EPU of the Operating Partnership is presented below:
 
Three Months Ended March 31, 2019
 
Three Months Ended March 31, 2018
Numerator:
 
 
 
Net Income Available to Unitholders and Participating Securities
$
24,314

 
$
37,443

Net Income Allocable to Participating Securities
(76
)
 
(97
)
Net Income Available to Unitholders
$
24,238

 
$
37,346

Denominator (In Thousands):
 
 
 
Weighted Average Units - Basic
128,818

 
123,729

Effect of Dilutive Securities that Result in the Issuance of General Partner Units:
 
 
 
       Performance units and certain Performance LTIP Units (See Note 9)
360

 
365

Weighted Average Units - Diluted
129,178

 
124,094

Basic and Diluted EPU:
 
 
 
Net Income Available to Unitholders
$
0.19

 
$
0.30


At March 31, 2019 and 2018, participating securities for the Company include 287,273 and 410,132, respectively, of restricted stock, which participate in non-forfeitable distributions. At March 31, 2019 and 2018, participating securities for the Operating Partnership include 407,457 and 410,132, respectively, of restricted Unit awards and certain LTIP Units, which participate in non-forfeitable distributions. Under the two class method, participating security holders are allocated income, in proportion to total weighted average shares or Units outstanding, based upon the greater of net income or common stock dividends or Unit distributions declared.