Earnings Per Share / Unit (EPS / EPU)

9 Months Ended

Sep. 30, 2019

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 September 30, 2019			Three Months Ended September 30, 2018			Nine Months Ended September 30, 2019			Nine Months Ended September 30, 2018
Numerator:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities	$	78,311		$	30,911		$	141,914		$	112,412
Net Income Allocable to Participating Securities	(170		)	(101		)	(319		)	(349		)
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	78,141		$	30,810		$	141,595		$	112,063
Denominator (In Thousands):
Weighted Average Shares - Basic	126,480			125,768			126,295			123,098
Effect of Dilutive Securities:
Performance units (See Note 9)	303			362			283			399
Weighted Average Shares - Diluted	126,783			126,130			126,578			123,497
Basic and Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	0.62		$	0.24		$	1.12		$	0.91

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



	Three Months Ended September 30, 2019			Three Months Ended September 30, 2018			Nine Months Ended September 30, 2019			Nine Months Ended September 30, 2018
Numerator:
Net Income Available to Unitholders and Participating Securities	$	79,969		$	31,508		$	144,972		$	115,333
Net Income Allocable to Participating Securities	(249		)	(101		)	(453		)	(349		)
Net Income Available to Unitholders	$	79,720		$	31,407		$	144,519		$	114,984
Denominator (In Thousands):
Weighted Average Units - Basic	128,837			128,526			128,829			126,380
Effect of Dilutive Securities:
Performance units and certain Performance LTIP Units (See Note 9)	419			362			390			399
Weighted Average Units - Diluted	129,256			128,888			129,219			126,779
Basic and Diluted EPU:
Net Income Available to Unitholders	$	0.62		$	0.24		$	1.12		$	0.91

At September 30, 2019 and 2018, participating securities for the Company include 274,624 and 413,193, respectively, of restricted stock, which participate in non-forfeitable distributions. At September 30, 2019 and 2018, participating securities for the Operating Partnership include 400,181 and 413,193, respectively, of restricted Unit awards and certain LTIP Units, 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.