Earnings Per Share / Unit (EPS / EPU)

6 Months Ended

Jun. 30, 2019

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 June 30, 2019			Three Months Ended June 30, 2018			Six Months Ended June 30, 2019			Six Months Ended June 30, 2018
Numerator:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities	$	39,800		$	45,209		$	63,603		$	81,501
Net Income Allocable to Participating Securities	(89		)	(151		)	(149		)	(248		)
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	39,711		$	45,058		$	63,454		$	81,253
Denominator (In Thousands):
Weighted Average Shares - Basic	126,206			123,616			126,200			121,741
Effect of Dilutive Securities:
Performance units (See Note 9)	283			469			272			417
Weighted Average Shares - Diluted	126,489			124,085			126,472			122,158
Basic and Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	0.31		$	0.36		$	0.50		$	0.67

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



	Three Months Ended June 30, 2019			Three Months Ended June 30, 2018			Six Months Ended June 30, 2019			Six Months Ended June 30, 2018
Numerator:
Net Income Available to Unitholders and Participating Securities	$	40,689		$	46,382		$	65,003		$	83,825
Net Income Allocable to Participating Securities	(128		)	(151		)	(204		)	(248		)
Net Income Available to Unitholders	$	40,561		$	46,231		$	64,799		$	83,577
Denominator (In Thousands):
Weighted Average Units - Basic	128,831			126,832			128,824			125,289
Effect of Dilutive Securities:
Performance units and certain Performance LTIP Units (See Note 9)	390			469			375			417
Weighted Average Units - Diluted	129,221			127,301			129,199			125,706
Basic and Diluted EPU:
Net Income Available to Unitholders	$	0.31		$	0.36		$	0.50		$	0.67

At June 30, 2019 and 2018, participating securities for the Company include 274,624 and 413,193, respectively, of restricted stock, which participate in non-forfeitable distributions. At June 30, 2019 and 2018, participating securities for the Operating Partnership include 400,181 and 413,193, 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.