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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
USD ($)
Jun. 30, 2020
USD ($)
Jun. 30, 2019
USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income $ 36,426 $ 77,955 $ 65,053
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Depreciation   50,695 48,629
Amortization of Debt Issuance Costs 784 1,572 1,625
Other Amortization, including Stock Based Compensation   16,332 14,156
Equity in Loss (Income) of Joint Venture 45 74 (16,360)
Distributions from Joint Venture   0 16,084
Gain on Sale of Real Estate (9,076) (23,069) (889)
Payments to Settle Derivative Instruments 0 0 (3,149)
Straight-line Rental Income and Expense, Net   (4,929) (5,926)
Decrease (Increase) in Tenant Accounts Receivable and Prepaid Expenses and Other Assets, Net   4,231 (2,839)
(Decrease) Increase in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits   (5,404) 3,734
Net Cash Provided by Operating Activities   117,457 120,118
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisitions of Real Estate   (164,012) (52,395)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs   (109,930) (119,174)
Net Proceeds from Sales of Investments in Real Estate   40,529 11,179
Contributions to and Investments in Joint Venture   (3,889) 0
Distributions from Joint Venture   0 8,586
Deposits on Future Acquisitions and Other Investing Activity   (8,470) (5,758)
Net Cash Used in Investing Activities   (245,772) (157,562)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Tax Paid on Shares Withheld   (5,944) (4,384)
Common Stock Dividends and Unit Distributions Paid   (62,110) (57,764)
Repayments on Mortgage Loans Payable   (17,506) (75,336)
Proceeds from Unsecured Credit Facility   232,000 187,000
Repayments on Unsecured Credit Facility   (70,000) (29,000)
Net Cash Provided by Financing Activities   76,440 20,516
Net Decrease in Cash, Cash Equivalents and Restricted Cash   (51,875) (16,928)
Cash, Cash Equivalents and Restricted Cash, Beginning of Year   152,718 50,373
Cash, Cash Equivalents and Restricted Cash, End of Period 100,843 100,843 33,445
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:      
Interest Expense Capitalized in Connection with Development Activity   3,458 2,320
Cash Paid for Operating Lease Liabilities   1,402 613
Supplemental Schedule of Non-Cash Operating Activities:      
Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets   1,208 12,400
Supplemental Schedule of Non-Cash Investing and Financing Activities:      
Dividends and Distributions Payable 33,036 33,036 30,281
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:      
Conversion of Limited Partner Units to Common Stock / General Partner Units 0 0 0
Assumption of Liabilities in Connection with the Acquisition of Real Estate   3,425 290
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate   25,094 48,344
Write-off of Fully Depreciated Assets   (19,400) (19,646)
Noncontrolling Interest      
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income 757    
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:      
Conversion of Limited Partner Units to Common Stock / General Partner Units (1) (2,065) 0
Common Stock      
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:      
Conversion of Limited Partner Units to Common Stock / General Partner Units 0 2 0
Additional Paid-in- Capital      
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:      
Conversion of Limited Partner Units to Common Stock / General Partner Units 1 2,063 0
First Industrial, L.P.      
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income 36,426 77,955 65,053
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Depreciation   50,695 48,629
Amortization of Debt Issuance Costs 784 1,572 1,625
Other Amortization, including Stock Based Compensation   16,332 14,156
Equity in Loss (Income) of Joint Venture 45 74 (16,360)
Distributions from Joint Venture   0 16,084
Gain on Sale of Real Estate (9,076) (23,069) (889)
Payments to Settle Derivative Instruments 0 0 (3,149)
Straight-line Rental Income and Expense, Net   (4,929) (5,926)
Decrease (Increase) in Tenant Accounts Receivable and Prepaid Expenses and Other Assets, Net   4,645 (2,780)
(Decrease) Increase in Accounts Payable, Accrued Expenses, Other Liabilities, Rents Received in Advance and Security Deposits   (5,404) 3,734
Net Cash Provided by Operating Activities   117,871 120,177
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisitions of Real Estate   (164,012) (52,395)
Additions to Investment in Real Estate and Non-Acquisition Tenant Improvements and Lease Costs   (109,930) (119,174)
Net Proceeds from Sales of Investments in Real Estate   40,529 11,179
Contributions to and Investments in Joint Venture   (3,889) 0
Distributions from Joint Venture   0 8,586
Deposits on Future Acquisitions and Other Investing Activity   (8,470) (5,758)
Net Cash Used in Investing Activities   (245,772) (157,562)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Tax Paid on Shares Withheld   (5,944) (4,384)
Common Stock Dividends and Unit Distributions Paid   (62,110) (57,764)
Contributions from Noncontrolling Interests   17 5
Distributions to Noncontrolling Interests   (431) (64)
Repayments on Mortgage Loans Payable   (17,506) (75,336)
Proceeds from Unsecured Credit Facility   232,000 187,000
Repayments on Unsecured Credit Facility   (70,000) (29,000)
Net Cash Provided by Financing Activities   76,026 20,457
Net Decrease in Cash, Cash Equivalents and Restricted Cash   (51,875) (16,928)
Cash, Cash Equivalents and Restricted Cash, Beginning of Year   152,718 50,373
Cash, Cash Equivalents and Restricted Cash, End of Period 100,843 100,843 33,445
SUPPLEMENTAL INFORMATION TO STATEMENTS OF CASH FLOWS:      
Interest Expense Capitalized in Connection with Development Activity   3,458 2,320
Cash Paid for Operating Lease Liabilities   1,402 613
Supplemental Schedule of Non-Cash Operating Activities:      
Operating Lease Liabilities Arising from Obtaining Right-of-Use Assets   1,208 12,400
Supplemental Schedule of Non-Cash Investing and Financing Activities:      
Dividends and Distributions Payable 33,036 33,036 30,281
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:      
Conversion of Limited Partner Units to Common Stock / General Partner Units 0 0 0
Assumption of Liabilities in Connection with the Acquisition of Real Estate   3,425 290
Accounts Payable Related to Construction in Progress and Additions to Investment in Real Estate   25,094 48,344
Write-off of Fully Depreciated Assets   (19,400) (19,646)
First Industrial, L.P. | Limited Partner Units      
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income 757    
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:      
Conversion of Limited Partner Units to Common Stock / General Partner Units (1) (2,065) 0
First Industrial, L.P. | General Partner Units      
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net Income 35,575    
Exchange of Limited Partnership Units for Common Stock/General Partnership Units:      
Conversion of Limited Partner Units to Common Stock / General Partner Units $ 1 $ 2,065 $ 0