Earnings Per Share / Unit (EPS / EPU)

6 Months Ended

Jun. 30, 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 June 30, 2017			Three Months Ended June 30, 2016			Six Months Ended June 30, 2017			Six Months Ended June 30, 2016
Numerator:
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities	$	37,562		$	50,229		$	60,271		$	65,917
Net Income Allocable to Participating Securities	(129		)	(180		)	(154		)	(217		)
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	37,433		$	50,049		$	60,117		$	65,700
Denominator (In Thousands):
Weighted Average Shares - Basic	117,299			116,191			117,070			113,492
Effect of Dilutive Securities:
LTIP Unit Awards (As Defined in Note 9)	480			367			452			279
Weighted Average Shares - Diluted	117,779			116,558			117,522			113,771
Basic and Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	0.32		$	0.43		$	0.51		$	0.58

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



	Three Months Ended June 30, 2017			Three Months Ended June 30, 2016			Six Months Ended June 30, 2017			Six Months Ended June 30, 2016
Numerator:
Net Income Available to Unitholders and Participating Securities	$	38,827		$	52,048		$	62,291		$	68,329
Net Income Allocable to Participating Securities	(129		)	(180		)	(154		)	(217		)
Net Income Available to Unitholders	$	38,698		$	51,868		$	62,137		$	68,112
Denominator (In Thousands):
Weighted Average Units - Basic	121,339			120,486			121,109			117,791
Effect of Dilutive Securities that Result in the Issuance of General Partner Units:
LTIP Unit Awards (As Defined in Note 9)	480			367			452			279
Weighted Average Units - Diluted	121,819			120,853			121,561			118,070
Basic and Diluted EPU:
Net Income Available to Unitholders	$	0.32		$	0.43		$	0.51		$	0.58

Participating securities include 404,276 and 418,366 of unvested restricted stock or restricted Unit awards outstanding at June 30, 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.