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Earnings Per Share / Unit (EPS / EPU) (Tables)
12 Months Ended
Dec. 31, 2015
Computation of Basic and Diluted Earnings Per Share / Unit
The computation of basic and diluted EPS of the Company is presented below: 
 
Year Ended
December 31,
2015
 
Year Ended
December 31,
2014
 
Year Ended
December 31,
2013
Numerator:
 
 
 
 
 
Income from Continuing Operations
$
76,705

 
$
23,182

 
$
4,862

Noncontrolling Interest Allocable to Continuing Operations
(2,903
)
 
(813
)
 
396

Income from Continuing Operations Allocable to Participating Securities
(248
)
 
(75
)
 

Income from Continuing Operations Attributable to First Industrial Realty Trust, Inc.
73,554

 
22,294

 
5,258

Preferred Dividends

 
(1,019
)
 
(8,733
)
Redemption of Preferred Stock

 
(1,462
)
 
(5,667
)
Income (Loss) from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders
$
73,554

 
$
19,813

 
$
(9,142
)
Income from Discontinued Operations
$

 
$
27,823

 
$
36,566

Noncontrolling Interest Allocable to Discontinued Operations

 
(1,082
)
 
(1,517
)
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

Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities
$
73,802

 
$
46,629

 
$
25,907

Net Income Allocable to Participating Securities
(248
)
 
(175
)
 
(162
)
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders
$
73,554

 
$
46,454

 
$
25,745

Denominator (In Thousands):
 
 
 
 
 
Weighted Average Shares - Basic
110,352

 
109,922

 
106,995

Effect of Dilutive Securities:
 
 
 
 
 
        LTIP Unit Awards
429

 
403

 

Weighted Average Shares - Diluted
110,781

 
110,325

 
106,995

Basic EPS:
 
 
 
 
 
Income (Loss) from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders
$
0.67

 
$
0.18

 
$
(0.09
)
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders
$

 
$
0.24

 
$
0.33

Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders
$
0.67

 
$
0.42

 
$
0.24

Diluted EPS:

 

 

Income (Loss) from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders
$
0.66

 
$
0.18

 
$
(0.09
)
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders
$

 
$
0.24

 
$
0.33

Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders
$
0.66

 
$
0.42

 
$
0.24

Non-Participating Securities
The following table discloses the number of non-participating securities outstanding for the year ended December 31, 2013 that were excluded from the computation of diluted EPS and EPU: 
 
Number of
Awards
Outstanding at
December 31,
2013
Non-Participating Securities:
 
Restricted Unit Awards
73,400

LTIP Unit Awards
718,960

First Industrial L.P.  
Computation of Basic and Diluted Earnings Per Share / Unit
The computation of basic and diluted EPU of the Operating Partnership is presented below:
 
Year Ended December 31, 2015
 
Year Ended December 31, 2014
 
Year Ended December 31, 2013
Numerator:
 
 
 
 
 
Income from Continuing Operations
$
76,820

 
$
23,434

 
$
4,908

Noncontrolling Interest Allocable to Continuing Operations
(138
)
 
(62
)
 
(36
)
Income from Continuing Operations Allocable to Participating Securities
(248
)
 
(75
)
 

Income from Continuing Operations Attributable to Unitholders
76,434

 
23,297

 
4,872

Preferred Unit Distributions

 
(1,019
)
 
(8,733
)
Redemption of Preferred Units

 
(1,462
)
 
(5,667
)
Income (Loss) from Continuing Operations Available to Unitholders
$
76,434

 
$
20,816

 
$
(9,528
)
Income from Discontinued Operations
$

 
$
27,823

 
$
36,566

Noncontrolling Interest Allocable to Discontinued Operations

 
(10
)
 
(5
)
Income from Discontinued Operations Allocable to Participating Securities

 
(100
)
 
(162
)
Income from Discontinued Operations Attributable to Unitholders
$

 
$
27,713

 
$
36,399

Net Income Available to Unitholders and Participating Securities
$
76,682

 
$
48,704

 
$
27,033

Net Income Allocable to Participating Securities
(248
)
 
(175
)
 
(162
)
Net Income Available to Unitholders
$
76,434

 
$
48,529

 
$
26,871

Denominator (In Thousands):
 
 
 
 
 
Weighted Average Units - Basic
114,709

 
114,388

 
111,646

Effect of Dilutive Securities that Result in the Issuance of General Partner Units:
 
 
 
 
 
LTIP Unit Awards
429

 
403

 

Weighted Average Units - Diluted
115,138

 
114,791

 
111,646

Basic EPU:
 
 
 
 
 
Income (Loss) from Continuing Operations Available to Unitholders
$
0.67

 
$
0.18

 
$
(0.09
)
Income from Discontinued Operations Attributable to Unitholders
$

 
$
0.24

 
$
0.33

Net Income Available to Unitholders
$
0.67

 
$
0.42

 
$
0.24

Diluted EPU:
 
 
 
 
 
Income (Loss) from Continuing Operations Available to Unitholders
$
0.66

 
$
0.18

 
$
(0.09
)
Income from Discontinued Operations Attributable to Unitholders
$

 
$
0.24

 
$
0.33

Net Income Available to Unitholders
$
0.66

 
$
0.42

 
$
0.24