Earnings Per Share / Unit (EPS / EPU)

6 Months Ended

Jun. 30, 2021

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, 2021		Three Months Ended June 30, 2020		Six Months Ended June 30, 2021		Six Months Ended June 30, 2020
Numerator:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities	$	51,936	$	35,669	$	114,134	$	76,303
Net Income Allocable to Participating Securities	(61)		(59)		(122)		(118)
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	51,875	$	35,610	$	114,012	$	76,185
Denominator (In Thousands):
Weighted Average Shares - Basic	129,098		127,074		129,093		127,004
Effect of Dilutive Securities:
Performance Units (See Note 9)	89		192		86		185
Weighted Average Shares - Diluted	129,187		127,266		129,179		127,189
Basic and Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	0.40	$	0.28	$	0.88	$	0.60

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


	Three Months Ended June 30, 2021		Three Months Ended June 30, 2020		Six Months Ended June 30, 2021		Six Months Ended June 30, 2020
Numerator:
Net Income Available to Unitholders and Participating Securities	$	53,140	$	36,332	$	116,705	$	77,811
Net Income Allocable to Participating Securities	(155)		(125)		(315)		(249)
Net Income Available to Unitholders	$	52,985	$	36,207	$	116,390	$	77,562
Denominator (In Thousands):
Weighted Average Units - Basic	131,188		129,081		131,180		129,075
Effect of Dilutive Securities:
Performance Units and certain Performance RLP Units (See Note 9)	516		380		489		355
Weighted Average Units - Diluted	131,704		129,461		131,669		129,430
Basic EPU:
Net Income Available to Unitholders	$	0.40	$	0.28	$	0.89	$	0.60
Diluted EPU:
Net Income Available to Unitholders	$	0.40	$	0.28	$	0.88	$	0.60

At June 30, 2021 and 2020, participating securities for the Company include 147,937 and 210,728, respectively, of Service Awards (see Note 9), which participate in non-forfeitable distributions. At June 30, 2021 and 2020, participating securities for the Operating Partnership include 378,548 and 445,182, 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.