9. Earnings Per Share (EPS)

The computation of basic and diluted EPS is presented below:



	Year Ended December 31, 2014			Year Ended December 31, 2013			Year Ended December 31, 2012
Numerator:
Income (Loss) from Continuing Operations	$	23,265		$	3,972		$	(25,063	)
(Loss) Gain on Sale of Real Estate, Net of Income Tax Provision	(83		)	890			3,777
Noncontrolling Interest Allocable to Continuing Operations	(813		)	396			2,173
Income from Continuing Operations Allocable to Participating Securities	(75		)	—			—
Income (Loss) from Continuing Operations Attributable to First Industrial Realty Trust, Inc.	22,294			5,258			(19,113		)
Preferred Dividends	(1,019		)	(8,733		)	(18,947		)
Redemption of Preferred Stock	(1,462		)	(5,667		)	(1,804		)
Income (Loss) from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	19,813		$	(9,142	)	$	(39,864	)
Income from Discontinued Operations	$	27,823		$	36,566		$	18,767
Noncontrolling Interest Allocable to Discontinued Operations	(1,082		)	(1,517		)	(972		)
Income from Discontinued Operations Allocable to Participating Securities	(100		)	(162		)	—
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.	$	26,641		$	34,887		$	17,795
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities	$	46,629		$	25,907		$	(22,069	)
Net Income Allocable to Participating Securities	(175		)	(162		)	—
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	46,454		$	25,745		$	(22,069	)
Denominator (In Thousands):
Weighted Average Shares - Basic	109,922			106,995			91,468
Effect of Dilutive Securities:
LTIP Unit Awards	403			—			—
Weighted Average Shares - Diluted	110,325			106,995			91,468
Basic and Diluted EPS:
Income (Loss) from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	0.18		$	(0.09	)	$	(0.44	)
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders	$	0.24		$	0.33		$	0.20
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	0.42		$	0.24		$	(0.24	)

Participating securities include 463,774, 488,861 and 288,627 of unvested restricted stock awards outstanding at December 31, 2014, 2013 and 2012, respectively, which participate in non-forfeitable dividends of the Company. Under the two class method, participating security holders are allocated income, in proportion to total weighted average shares outstanding, based upon the greater of net income (after reduction for preferred dividends and redemption of preferred stock) or common dividends declared. Since participating security holders are not obligated to share in losses and no common dividends were declared during the year ended December 31, 2012, there was no allocation of income to participating security holders for the year ended December 31, 2012.

The number of weighted average shares—diluted is the same as the number of weighted average shares—basic for the years ended December 31, 2013 and 2012, as the effect of restricted unit awards and LTIP Unit Awards (as defined in Note 12), which do not participate in non-forfeitable dividends of the Company, was excluded as its inclusion would have been antidilutive to the loss from continuing operations available to First Industrial Realty Trust, Inc.’s common stockholders. The following table discloses the number of non-participating securities outstanding for the years ended December 31, 2013 and 2012 that were excluded from the computation of diluted EPS:



	Number of Awards Outstanding at December 31, 2013	Number of Awards Outstanding at December 31, 2012
Non-Participating Securities:
Restricted Unit Awards	73,400	483,500
LTIP Unit Awards	718,960	—