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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues      
Lease Revenue $ 532,237 $ 473,236 $ 437,543
Joint Venture Fees 1,322 321 590
Other Revenue 6,370 2,733 9,895
Total Revenues 539,929 476,290 448,028
Expenses:      
Property Expenses 143,663 131,300 119,195
General and Administrative 33,972 34,610 32,848
Joint Venture Development Services Expense 909 0 0
Depreciation and Other Amortization 147,420 130,953 129,638
Total Expenses 325,964 296,863 281,681
Other Income (Expense):      
Gain on Sale of Real Estate 128,268 150,310 86,751
Interest Expense (49,013) (44,103) (51,293)
Amortization of Debt Issuance Costs (3,187) (3,423) (3,428)
Total Other Income (Expense) 76,068 102,784 32,030
Income from Operations Before Equity in Income (Loss) of Joint Ventures and Income Tax Provision 290,033 282,211 198,377
Equity in Income (Loss) of Joint Ventures 114,942 (161) 4,200
Income Tax Provision (23,363) (4,879) (2,408)
Net Income 381,612 277,171 200,169
Less: Net Income Attributable to the Noncontrolling Interests (22,478) (6,174) (4,180)
Net Income Available to Common Stockholders / Unitholders and Participating Securities $ 359,134 $ 270,997 $ 195,989
Basic Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.72 $ 2.09 $ 1.53
Diluted Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.72 $ 2.09 $ 1.53
Weighted Average Shares/Units Outstanding - Basic 132,024 129,688 127,711
Weighted Average Shares / Units Outstanding - Diluted 132,103 129,775 127,904
First Industrial, L.P.      
Revenues      
Lease Revenue $ 532,237 $ 473,236 $ 437,543
Joint Venture Fees 1,322 321 590
Other Revenue 6,370 2,733 9,895
Total Revenues 539,929 476,290 448,028
Expenses:      
Property Expenses 143,663 131,300 119,195
General and Administrative 33,972 34,610 32,848
Joint Venture Development Services Expense 909 0 0
Depreciation and Other Amortization 147,420 130,953 129,638
Total Expenses 325,964 296,863 281,681
Other Income (Expense):      
Gain on Sale of Real Estate 128,268 150,310 86,751
Interest Expense (49,013) (44,103) (51,293)
Amortization of Debt Issuance Costs (3,187) (3,423) (3,428)
Total Other Income (Expense) 76,068 102,784 32,030
Income from Operations Before Equity in Income (Loss) of Joint Ventures and Income Tax Provision 290,033 282,211 198,377
Equity in Income (Loss) of Joint Ventures 114,942 (161) 4,200
Income Tax Provision (23,363) (4,879) (2,408)
Net Income 381,612 277,171 200,169
Less: Net Income Attributable to the Noncontrolling Interests (14,093) (133) (235)
Net Income Available to Common Stockholders / Unitholders and Participating Securities $ 367,519 $ 277,038 $ 199,934
Basic Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.73 $ 2.10 $ 1.54
Diluted Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 2.72 $ 2.09 $ 1.53
Weighted Average Shares/Units Outstanding - Basic 134,229 131,740 129,752
Weighted Average Shares / Units Outstanding - Diluted 134,681 132,237 130,127