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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income $ 63,583 $ 41,529
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Depreciation 26,254 24,906
Amortization of Debt Issuance Costs 949 788
Other Amortization, including Stock Based Compensation 7,985 7,920
Equity in Loss of Joint Ventures 73 29
Gain on Sale of Real Estate (34,645) (13,993)
Straight-line Rental Income and Expense, Net (5,482) (2,898)
Increase in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net (7,617) (4,452)
Decrease in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits (9,695) (13,560)
Net Cash Provided by Operating Activities 41,405 40,269
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions of Real Estate (23,877) (142,380)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs (62,136) (55,813)
Net Proceeds from Sales of Investments in Real Estate 65,535 26,030
Contributions to and Investments in Joint Ventures (741) (339)
Increase in Escrow Deposits (843) (10,550)
Net Cash Used in Investing Activities (22,062) (183,052)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Financing Issuance Costs (60) 0
Tax Paid on Shares Withheld (5,126) (5,944)
Common Stock Dividends and Unit Distributions Paid (32,844) (29,730)
Repayments on Mortgage Loans Payable (1,273) (1,257)
Proceeds from Unsecured Credit Facility 0 232,000
Repayments on Unsecured Credit Facility 0 (70,000)
Net Cash (Used in) Provided by Financing Activities (39,303) 125,069
Net Decrease in Cash, Cash Equivalents and Restricted Cash (19,960) (17,714)
Cash, Cash Equivalents and Restricted Cash, Beginning of Year 199,658 152,718
Cash, Cash Equivalents and Restricted Cash, End of Period 179,698 135,004
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:    
Interest Expense Capitalized in Connection with Development Activity 1,923 1,558
Cash Paid for Operating Lease Liabilities 798 727
Supplemental Schedule of Non-Cash Operating Activities:    
Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets 0 1,208
Supplemental Schedule of Non-Cash Investing and Financing Activities:    
Dividends and Distributions Payable 36,118 32,857
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 Liabilities in Connection with the Acquisition of Real Estate 669 3,385
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate 32,472 34,307
Tenant Improvements Funded by Tenant 15,992 0
Write-off of Fully Depreciated Assets (5,283) (6,195)
Noncontrolling Interests    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income 1,385 895
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units (22) (2,064)
Common Stock    
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units 0 2
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 22 2,062
First Industrial, L.P.    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income 63,583 41,529
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Depreciation 26,254 24,906
Amortization of Debt Issuance Costs 949 788
Other Amortization, including Stock Based Compensation 7,985 7,920
Equity in Loss of Joint Ventures 73 29
Gain on Sale of Real Estate (34,645) (13,993)
Straight-line Rental Income and Expense, Net (5,482) (2,898)
Increase in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net (7,622) (4,091)
Decrease in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits (9,695) (13,560)
Net Cash Provided by Operating Activities 41,400 40,630
CASH FLOWS FROM INVESTING ACTIVITIES:    
Acquisitions of Real Estate (23,877) (142,380)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs (62,136) (55,813)
Net Proceeds from Sales of Investments in Real Estate 65,535 26,030
Contributions to and Investments in Joint Ventures (741) (339)
Increase in Escrow Deposits (843) (10,550)
Net Cash Used in Investing Activities (22,062) (183,052)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Financing Issuance Costs (60) 0
Tax Paid on Shares Withheld (5,126) (5,944)
Common Stock Dividends and Unit Distributions Paid (32,844) (29,730)
Contributions from Noncontrolling Interests 29 5
Distributions to Noncontrolling Interests (24) (366)
Repayments on Mortgage Loans Payable (1,273) (1,257)
Proceeds from Unsecured Credit Facility 0 232,000
Repayments on Unsecured Credit Facility 0 (70,000)
Net Cash (Used in) Provided by Financing Activities (39,298) 124,708
Net Decrease in Cash, Cash Equivalents and Restricted Cash (19,960) (17,714)
Cash, Cash Equivalents and Restricted Cash, Beginning of Year 199,658 152,718
Cash, Cash Equivalents and Restricted Cash, End of Period 179,698 135,004
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:    
Interest Expense Capitalized in Connection with Development Activity 1,923 1,558
Cash Paid for Operating Lease Liabilities 798 727
Supplemental Schedule of Non-Cash Operating Activities:    
Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets 0 1,208
Supplemental Schedule of Non-Cash Investing and Financing Activities:    
Dividends and Distributions Payable 36,118 32,857
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 Liabilities in Connection with the Acquisition of Real Estate 669 3,385
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate 32,472 34,307
Tenant Improvements Funded by Tenant 15,992 0
Write-off of Fully Depreciated Assets (5,283) (6,195)
First Industrial, L.P. | Limited Partner Units    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income 1,389 895
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units (22) (2,064)
First Industrial, L.P. | General Partner Units    
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Income 62,176 40,584
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:    
Conversion of Limited Partner Units to Common Stock / General Partner Units $ 22 $ 2,064