XML 17 R4.htm IDEA: XBRL DOCUMENT v3.19.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Lease Revenue $ 103,517 $ 98,064 $ 207,155 $ 197,104
Other Revenue 578 781 1,481 1,512
Total Revenues 104,095 98,845 208,636 198,616
Expenses:        
Property Expenses 27,379 28,553 57,547 57,964
General and Administrative 6,782 6,746 13,584 14,889
Impairment of Real Estate 0 0 0 2,756
Depreciation and Other Amortization 29,774 28,636 59,829 56,951
Total Expenses 63,935 63,935 130,960 132,560
Other (Expense) Income:        
Gain on Sale of Real Estate 1,097 25,067 889 45,156
Interest Expense (12,332) (12,603) (25,099) (25,394)
Amortization of Debt Issuance Costs (794) (845) (1,625) (1,700)
Loss from Retirement of Debt 0 0 0 (39)
Total Other (Expense) Income (12,029) 11,619 (25,835) 18,023
Income from Operations Before Equity in Income (Loss) of Joint Venture and Income Tax Provision 28,131 46,529 51,841 84,079
Equity in Income (Loss) of Joint Venture 15,516 (2) 16,360 (2)
Income Tax Provision (2,934) (123) (3,148) (209)
Net Income 40,713 46,404 65,053 83,868
Less: Net Income Attributable to the Noncontrolling Interest (913) (1,195) (1,450) (2,367)
Net Income Available to Common Stockholders / Unitholders and Participating Securities $ 39,800 $ 45,209 $ 63,603 $ 81,501
Basic and Diluted Earnings Per Share / Unit:        
Net Income Available to Common Stockholders / Unitholders $ 0.31 $ 0.36 $ 0.50 $ 0.67
Weighted Average Shares/Units Outstanding - Basic 126,206 123,616 126,200 121,741
Weighted Average Shares/Units Outstanding - Diluted 126,489 124,085 126,472 122,158
First Industrial, L.P.        
Revenues:        
Lease Revenue $ 103,517 $ 98,064 $ 207,155 $ 197,104
Other Revenue 578 781 1,481 1,512
Total Revenues 104,095 98,845 208,636 198,616
Expenses:        
Property Expenses 27,379 28,553 57,547 57,964
General and Administrative 6,782 6,746 13,584 14,889
Impairment of Real Estate 0 0 0 2,756
Depreciation and Other Amortization 29,774 28,636 59,829 56,951
Total Expenses 63,935 63,935 130,960 132,560
Other (Expense) Income:        
Gain on Sale of Real Estate 1,097 25,067 889 45,156
Interest Expense (12,332) (12,603) (25,099) (25,394)
Amortization of Debt Issuance Costs (794) (845) (1,625) (1,700)
Loss from Retirement of Debt 0 0 0 (39)
Total Other (Expense) Income (12,029) 11,619 (25,835) 18,023
Income from Operations Before Equity in Income (Loss) of Joint Venture and Income Tax Provision 28,131 46,529 51,841 84,079
Equity in Income (Loss) of Joint Venture 15,516 (2) 16,360 (2)
Income Tax Provision (2,934) (123) (3,148) (209)
Net Income 40,713 46,404 65,053 83,868
Less: Net Income Attributable to the Noncontrolling Interest (24) (22) (50) (43)
Net Income Available to Common Stockholders / Unitholders and Participating Securities $ 40,689 $ 46,382 $ 65,003 $ 83,825
Basic and Diluted Earnings Per Share / Unit:        
Net Income Available to Common Stockholders / Unitholders $ 0.31 $ 0.36 $ 0.50 $ 0.67
Weighted Average Shares/Units Outstanding - Basic 128,831 126,832 128,824 125,289
Weighted Average Shares/Units Outstanding - Diluted 129,221 127,301 129,199 125,706