Earnings Per Share / Unit (EPS / EPU)

3 Months Ended

Mar. 31, 2017

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, 2017			Three Months Ended March 31, 2016
Numerator:
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities	$	22,709		$	15,688
Net Income Allocable to Participating Securities	(67		)	(63		)
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	22,642		$	15,625
Denominator (In Thousands):
Weighted Average Shares - Basic	116,837			110,793
Effect of Dilutive Securities:
LTIP Unit Awards (As Defined in Note 9)	424			192
Weighted Average Shares - Diluted	117,261			110,985
Basic and Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	0.19		$	0.14

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



	Three Months Ended March 31, 2017			Three Months Ended March 31, 2016
Numerator:
Net Income Available to Unitholders and Participating Securities	$	23,464		$	16,281
Net Income Allocable to Participating Securities	(66		)	(63		)
Net Income Available to Unitholders	$	23,398		$	16,218
Denominator (In Thousands):
Weighted Average Units - Basic	120,877			115,096
Effect of Dilutive Securities that Result in the Issuance of General Partner Units:
LTIP Unit Awards (As Defined in Note 9)	424			192
Weighted Average Units - Diluted	121,301			115,288
Basic and Diluted EPU:
Net Income Available to Unitholders	$	0.19		$	0.14

Participating securities include 403,628 and 421,291 of unvested restricted stock or restricted Unit awards outstanding at March 31, 2017 and 2016, 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.