Earnings Per Share / Unit (EPS / EPU)

6 Months Ended

Jun. 30, 2020

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, 2020		Three Months Ended June 30, 2019		Six Months Ended June 30, 2020		Six Months Ended June 30, 2019
Numerator:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities	$	35,669	$	39,800	$	76,303	$	63,603
Net Income Allocable to Participating Securities	(59)		(89)		(118)		(149)
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	35,610	$	39,711	$	76,185	$	63,454
Denominator (In Thousands):
Weighted Average Shares - Basic	127,074		126,206		127,004		126,200
Effect of Dilutive Securities:
Performance Units (See Note 9)	192		283		185		272
Weighted Average Shares - Diluted	127,266		126,489		127,189		126,472
Basic and Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	0.28	$	0.31	$	0.60	$	0.50

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


	Three Months Ended June 30, 2020		Three Months Ended June 30, 2019		Six Months Ended June 30, 2020		Six Months Ended June 30, 2019
Numerator:
Net Income Available to Unitholders and Participating Securities	$	36,332	$	40,689	$	77,811	$	65,003
Net Income Allocable to Participating Securities	(125)		(128)		(249)		(204)
Net Income Available to Unitholders	$	36,207	$	40,561	$	77,562	$	64,799
Denominator (In Thousands):
Weighted Average Units - Basic	129,081		128,831		129,075		128,824
Effect of Dilutive Securities:
Performance Units and certain Performance RLP Units (See Note 6)	380		390		355		375
Weighted Average Units - Diluted	129,461		129,221		129,430		129,199
Basic and Diluted EPU:
Net Income Available to Unitholders	$	0.28	$	0.31	$	0.60	$	0.50

At June 30, 2020 and 2019, participating securities for the Company include 210,728 and 274,624, respectively, of Service Awards (see Note 9), which participate in non-forfeitable distributions. At June 30, 2020 and 2019, participating securities for the Operating Partnership include 445,182 and 400,181, respectively, of Service Awards and certain Performance Awards (See Note 9), 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.