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, 2018			Three Months Ended March 31, 2017
Numerator:
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities	$	36,292		$	22,709
Net Income Allocable to Participating Securities	(97		)	(67		)
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	36,195		$	22,642
Denominator (In Thousands):
Weighted Average Shares - Basic	119,846			116,837
Effect of Dilutive Securities:
LTIP Unit Awards (As Defined in Note 9)	365			424
Weighted Average Shares - Diluted	120,211			117,261
Basic and Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	0.30		$	0.19

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



	Three Months Ended March 31, 2018			Three Months Ended March 31, 2017
Numerator:
Net Income Available to Unitholders and Participating Securities	$	37,443		$	23,464
Net Income Allocable to Participating Securities	(97		)	(66		)
Net Income Available to Unitholders	$	37,346		$	23,398
Denominator (In Thousands):
Weighted Average Units - Basic	123,729			120,877
Effect of Dilutive Securities that Result in the Issuance of General Partner Units:
LTIP Unit Awards (As Defined in Note 9)	365			424
Weighted Average Units - Diluted	124,094			121,301
Basic and Diluted EPU:
Net Income Available to Unitholders	$	0.30		$	0.19

Participating securities include 410,132 and 403,628 of unvested restricted stock or restricted Unit awards outstanding at March 31, 2018 and 2017, 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.