Earnings Per Share / Unit (EPS / EPU)

6 Months Ended

Jun. 30, 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 June 30, 2016			Three Months Ended June 30, 2015			Six Months Ended June 30, 2016			Six Months Ended June 30, 2015
Numerator:
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities	$	50,229		$	14,012		$	65,917		$	16,385
Net Income Allocable to Participating Securities	(180		)	(50		)	(217		)	(91		)
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	50,049		$	13,962		$	65,700		$	16,294
Denominator (In Thousands):
Weighted Average Shares - Basic	116,191			110,348			113,492			110,329
Effect of Dilutive Securities:
LTIP Unit Awards (As Defined in Note 9)	367			335			279			350
Weighted Average Shares - Diluted	116,558			110,683			113,771			110,679
Basic and Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	0.43		$	0.13		$	0.58		$	0.15

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



	Three Months Ended June 30, 2016			Three Months Ended June 30, 2015			Six Months Ended June 30, 2016			Six Months Ended June 30, 2015
Numerator:
Net Income Available to Unitholders and Participating Securities	$	52,048		$	14,644		$	68,329		$	17,101
Net Income Allocable to Participating Securities	(180		)	(50		)	(217		)	(91		)
Net Income Available to Unitholders	$	51,868		$	14,594		$	68,112		$	17,010
Denominator (In Thousands):
Weighted Average Units - Basic	120,486			114,712			117,791			114,697
Effect of Dilutive Securities that Result in the Issuance of General Partner Units:
LTIP Unit Awards (As Defined in Note 9)	367			335			279			350
Weighted Average Units - Diluted	120,853			115,047			118,070			115,047
Basic and Diluted EPU:
Net Income Available to Unitholders	$	0.43		$	0.13		$	0.58		$	0.15

Participating securities include 418,366 and 388,866 of unvested restricted stock or restricted Unit awards outstanding at June 30, 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.