Earnings Per Share / Unit (EPS / EPU)

3 Months Ended

Mar. 31, 2020

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, 2020			Three Months Ended March 31, 2019
Numerator:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities	$	40,634		$	23,803
Net Income Allocable to Participating Securities	(59		)	(60		)
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	40,575		$	23,743
Denominator (In Thousands):
Weighted Average Shares - Basic	126,934			126,194
Effect of Dilutive Securities:
Performance Units (See Note 9)	177			262
Weighted Average Shares - Diluted	127,111			126,456
Basic and Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	0.32		$	0.19

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



	Three Months Ended March 31, 2020			Three Months Ended March 31, 2019
Numerator:
Net Income Available to Unitholders and Participating Securities	$	41,479		$	24,314
Net Income Allocable to Participating Securities	(123		)	(76		)
Net Income Available to Unitholders	$	41,356		$	24,238
Denominator (In Thousands):
Weighted Average Units - Basic	129,070			128,818
Effect of Dilutive Securities:
Performance Units and certain Performance RLP Units (See Note 6)	330			360
Weighted Average Units - Diluted	129,400			129,178
Basic and Diluted EPU:
Net Income Available to Unitholders	$	0.32		$	0.19

At March 31, 2020 and 2019, participating securities for the Company include 210,886 and 287,273, respectively, of Service Awards (see Note 9), which participate in non-forfeitable distributions. At March 31, 2020 and 2019, participating securities for the Operating Partnership include 445,735 and 407,457, respectively, of Service Awards and certain Performance Awards (See Note 9), 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.