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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net Income $ 43,419 $ 36,707 $ 160,163 $ 114,662
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:        
Depreciation     80,309 76,580
Amortization of Debt Issuance Costs 782 905 2,666 2,477
Other Amortization, including Equity Based Compensation     23,861 26,776
Equity in Loss of Joint Ventures 15 162 154 236
Gain on Sale of Real Estate (8,879) (6,525) (66,378) (29,594)
Gain on Involuntary Conversion     0 (6,476)
Straight-line Rental Income and Expense, Net     (12,826) (6,481)
(Increase) Decrease in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net     (5,348) 3,149
Increase in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits     13,836 8,810
Net Cash Provided by Operating Activities     196,437 190,139
CASH FLOWS FROM INVESTING ACTIVITIES:        
Acquisitions of Real Estate     (224,954) (184,883)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs     (197,980) (150,908)
Net Proceeds from Sales of Investments in Real Estate, Including Sales-Type Lease Receivable     114,644 110,049
Contributions to and Investments in Joint Ventures     (1,321) (42,744)
Distributions from Joint Ventures     21,407 0
Proceeds from Involuntary Conversion     0 6,476
Increase in Escrow Deposits and Other Investing Activity     (3,398) (12,345)
Net Cash Used in Investing Activities     (291,602) (274,355)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Financing and Equity Issuance Costs     (6,365) (3,329)
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount     59,008 78,718
Tax Paid on Vested Equity Compensation     (5,126) (5,944)
Common Stock Dividends and Unit Distributions Paid     (103,893) (94,493)
Contributions from Noncontrolling Interests     0 4,321
Repayments on Mortgage Loans Payable     (61,097) (18,654)
Proceeds from Senior Unsecured Notes     0 300,000
Proceeds from Unsecured Credit Facility     159,000 247,000
Repayments on Unsecured Credit Facility     (85,000) (405,000)
Net Cash (Used in) Provided by Financing Activities     (43,473) 102,619
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash     (138,638) 18,403
Cash, Cash Equivalents and Restricted Cash, Beginning of Year     199,658 152,718
Cash, Cash Equivalents and Restricted Cash, End of Period 61,020 171,121 61,020 171,121
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:        
Interest Expense Capitalized in Connection with Development Activity     8,150 5,029
Cash Paid for Operating Lease Liabilities     2,407 2,175
Supplemental Schedule of Non-Cash Operating Activities:        
Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets     354 1,208
Supplemental Schedule of Non-Cash Investing and Financing Activities:        
Dividends and Distributions Payable 36,701 33,577 36,701 33,577
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:        
Conversion of Limited Partner Units to Common Stock / General Partner Units 0 0 0 0
Assumption of Escrow in Connection with the Acquisition of Real Estate     3,611 0
Assumption of Liabilities in Connection with the Acquisition of Real Estate     3,451 6,542
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate     66,092 24,385
Tenant Improvements Funded by Tenant     16,239 0
Write-off of Fully Depreciated Assets     (25,106) (30,935)
Noncontrolling Interests        
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net Income 973 748    
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:        
Conversion of Limited Partner Units to Common Stock / General Partner Units (1,365) (4) (1,387) (2,069)
Common Stock        
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:        
Conversion of Limited Partner Units to Common Stock / General Partner Units 1 0 1 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 1,364 4 1,386 2,067
First Industrial, L.P.        
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net Income 43,419 36,707 160,163 114,662
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:        
Depreciation     80,309 76,580
Amortization of Debt Issuance Costs 782 905 2,666 2,477
Other Amortization, including Equity Based Compensation     23,861 26,776
Equity in Loss of Joint Ventures 15 162 154 236
Gain on Sale of Real Estate (8,879) (6,525) (66,378) (29,594)
Gain on Involuntary Conversion     0 (6,476)
Straight-line Rental Income and Expense, Net     (12,826) (6,481)
(Increase) Decrease in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net     (5,307) 3,709
Increase in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits     13,836 8,810
Net Cash Provided by Operating Activities     196,478 190,699
CASH FLOWS FROM INVESTING ACTIVITIES:        
Acquisitions of Real Estate     (224,954) (184,883)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs     (197,980) (150,908)
Net Proceeds from Sales of Investments in Real Estate, Including Sales-Type Lease Receivable     114,644 110,049
Contributions to and Investments in Joint Ventures     (1,321) (42,744)
Distributions from Joint Ventures     21,407 0
Proceeds from Involuntary Conversion     0 6,476
Increase in Escrow Deposits and Other Investing Activity     (3,398) (12,345)
Net Cash Used in Investing Activities     (291,602) (274,355)
CASH FLOWS FROM FINANCING ACTIVITIES:        
Financing and Equity Issuance Costs     (6,365) (3,329)
Proceeds from the Issuance of Common Stock, Net of Underwriter's Discount     59,008 (78,718)
Tax Paid on Vested Equity Compensation     (5,126) (5,944)
Common Stock Dividends and Unit Distributions Paid     (103,893) (94,493)
Contributions from Noncontrolling Interests     35 4,388
Distributions to Noncontrolling Interests     (76) (627)
Repayments on Mortgage Loans Payable     (61,097) (18,654)
Proceeds from Senior Unsecured Notes     0 300,000
Proceeds from Unsecured Credit Facility     159,000 247,000
Repayments on Unsecured Credit Facility     (85,000) (405,000)
Net Cash (Used in) Provided by Financing Activities     (43,514) 102,059
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash     (138,638) 18,403
Cash, Cash Equivalents and Restricted Cash, Beginning of Year     199,658 152,718
Cash, Cash Equivalents and Restricted Cash, End of Period 61,020 171,121 61,020 171,121
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:        
Interest Expense Capitalized in Connection with Development Activity     8,150 5,029
Cash Paid for Operating Lease Liabilities     2,407 2,175
Supplemental Schedule of Non-Cash Operating Activities:        
Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets     354 1,208
Supplemental Schedule of Non-Cash Investing and Financing Activities:        
Dividends and Distributions Payable 36,701 33,577 36,701 33,577
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:        
Conversion of Limited Partner Units to Common Stock / General Partner Units 0 0 0 0
Assumption of Escrow in Connection with the Acquisition of Real Estate     3,611 0
Assumption of Liabilities in Connection with the Acquisition of Real Estate     3,451 6,542
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate     66,092 24,385
Tenant Improvements Funded by Tenant     16,239 0
Write-off of Fully Depreciated Assets     (25,106) (30,935)
First Industrial, L.P. | Limited Partner Units        
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net Income 975 760    
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:        
Conversion of Limited Partner Units to Common Stock / General Partner Units (1,365) (4) (1,387) (2,069)
First Industrial, L.P. | General Partner Units        
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net Income 42,424 35,879    
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:        
Conversion of Limited Partner Units to Common Stock / General Partner Units $ 1,365 $ 4 $ 1,387 $ 2,069