Earnings Per Share / Unit (EPS / EPU)

3 Months Ended

Mar. 31, 2016

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 March 31, 2016			Three Months Ended March 31, 2015
Numerator:
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities	$	15,688		$	2,373
Net Income Allocable to Participating Securities	(63		)	(41		)
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	15,625		$	2,332
Denominator (In Thousands):
Weighted Average Shares - Basic	110,793			110,310
Effect of Dilutive Securities:
LTIP Unit Awards (As Defined in Note 9)	192			365
Weighted Average Shares - Diluted	110,985			110,675
Basic and Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	0.14		$	0.02

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



	Three Months Ended March 31, 2016			Three Months Ended March 31, 2015
Numerator:
Net Income Available to Unitholders and Participating Securities	$	16,281		$	2,457
Net Income Allocable to Participating Securities	(63		)	(41		)
Net Income Available to Unitholders	$	16,218		$	2,416
Denominator (In Thousands):
Weighted Average Units - Basic	115,096			114,681
Effect of Dilutive Securities that Result in the Issuance of General Partner Units:
LTIP Unit Awards (As Defined in Note 9)	192			365
Weighted Average Units - Diluted	115,288			115,046
Basic and Diluted EPU:
Net Income Available to Unitholders	$	0.14		$	0.02

Participating securities include 421,291 and 391,721 of unvested restricted stock or restricted Unit awards outstanding at March 31, 2016 and 2015, respectively, 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.