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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Lease Revenue $ 148,950 $ 128,957 $ 295,556 $ 253,869
Joint Venture Fees 1,843 37 2,916 74
Other Revenue 1,430 1,055 3,174 1,619
Total Revenues 152,223 130,049 301,646 255,562
Expenses:        
Property Expenses 39,757 34,860 81,939 70,275
General and Administrative 9,520 8,249 18,874 16,990
Joint Venture Development Services Expense 1,347 0 2,131 0
Depreciation and Other Amortization 40,590 36,470 80,362 70,380
Total Expenses 91,214 79,579 183,306 157,645
Other Income (Expense):        
Gain on Sale of Real Estate 13,053 297 13,053 297
Interest Expense (17,898) (10,374) (34,017) (20,010)
Amortization of Debt Issuance Costs (905) (730) (1,809) (1,486)
Total Other Income (Expense) (5,750) (10,807) (22,773) (21,199)
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision 55,259 39,663 95,567 76,718
Equity in Income of Joint Venture 1,434 118,211 29,068 118,189
Income Tax Provision (459) (24,198) (7,626) (24,108)
Net Income 56,234 133,676 117,009 170,799
Less: Net Income Attributable to the Noncontrolling Interests (1,598) (16,685) (6,406) (17,550)
Net Income Available to Common Stockholders / Unitholders and Participating Securities $ 54,636 $ 116,991 $ 110,603 $ 153,249
Basic and Diluted Earnings Per Share / Unit:        
Net Income Available to Common Stockholders / Unitholders - Basic $ 0.41 $ 0.89 $ 0.84 $ 1.16
Net Income Available to Common Stockholders / Unitholders - Diluted $ 0.41 $ 0.88 $ 0.84 $ 1.16
Weighted Average Shares/Units Outstanding - Basic 132,249 132,051 132,230 131,932
Weighted Average Shares/Units Outstanding - Diluted 132,337 132,106 132,318 131,997
First Industrial, L.P.        
Revenues:        
Lease Revenue $ 148,950 $ 128,957 $ 295,556 $ 253,869
Joint Venture Fees 1,843 37 2,916 74
Other Revenue 1,430 1,055 3,174 1,619
Total Revenues 152,223 130,049 301,646 255,562
Expenses:        
Property Expenses 39,757 34,860 81,939 70,275
General and Administrative 9,520 8,249 18,874 16,990
Joint Venture Development Services Expense 1,347 0 2,131 0
Depreciation and Other Amortization 40,590 36,470 80,362 70,380
Total Expenses 91,214 79,579 183,306 157,645
Other Income (Expense):        
Gain on Sale of Real Estate 13,053 297 13,053 297
Interest Expense (17,898) (10,374) (34,017) (20,010)
Amortization of Debt Issuance Costs (905) (730) (1,809) (1,486)
Total Other Income (Expense) (5,750) (10,807) (22,773) (21,199)
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision 55,259 39,663 95,567 76,718
Equity in Income of Joint Venture 1,434 118,211 29,068 118,189
Income Tax Provision (459) (24,198) (7,626) (24,108)
Net Income 56,234 133,676 117,009 170,799
Less: Net Income Attributable to the Noncontrolling Interests (211) (14,257) (3,592) (14,275)
Net Income Available to Common Stockholders / Unitholders and Participating Securities $ 56,023 $ 119,419 $ 113,417 $ 156,524
Basic and Diluted Earnings Per Share / Unit:        
Net Income Available to Common Stockholders / Unitholders - Basic $ 0.41 $ 0.89 $ 0.84 $ 1.16
Net Income Available to Common Stockholders / Unitholders - Diluted $ 0.41 $ 0.89 $ 0.84 $ 1.16
Weighted Average Shares/Units Outstanding - Basic 134,702 134,278 134,694 134,176
Weighted Average Shares/Units Outstanding - Diluted 135,247 134,590 135,239 134,543