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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues:    
Lease Revenue $ 159,735 $ 146,606
Joint Venture Fees 669 1,073
Other Revenue 1,868 1,744
Total Revenues 162,272 149,423
Expenses:    
Property Expenses 47,014 42,182
General and Administrative 11,781 9,354
Joint Venture Development Services Expense 426 784
Depreciation and Other Amortization 41,819 39,772
Total Expenses 101,040 92,092
Other Income (Expense):    
Gain on Sale of Real Estate 30,852 0
Interest Expense (20,897) (16,119)
Amortization of Debt Issuance Costs (912) (904)
Total Other Income (Expense) 9,043 (17,023)
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision 70,275 40,308
Equity in Income of Joint Venture 1,402 27,634
Income Tax Provision (1,179) (7,167)
Net Income 70,498 60,775
Less: Net Income Attributable to the Noncontrolling Interests (2,046) (4,808)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 68,452 55,967
Net Income Allocable to Participating Securities (45) (47)
Net Income Available to Common Stockholders / Unitholders $ 68,407 $ 55,920
Basic and Diluted Earnings Per Share / Unit:    
Net Income Available to Common Stockholders / Unitholders - Basic $ 0.52 $ 0.42
Net Income Available to Common Stockholders / Unitholders - Diluted $ 0.52 $ 0.42
Weighted Average Shares/Units Outstanding - Basic 132,360 132,211
Weighted Average Shares/Units Outstanding - Diluted 132,406 132,299
First Industrial, L.P.    
Revenues:    
Lease Revenue $ 159,735 $ 146,606
Joint Venture Fees 669 1,073
Other Revenue 1,868 1,744
Total Revenues 162,272 149,423
Expenses:    
Property Expenses 47,014 42,182
General and Administrative 11,781 9,354
Joint Venture Development Services Expense 426 784
Depreciation and Other Amortization 41,819 39,772
Total Expenses 101,040 92,092
Other Income (Expense):    
Gain on Sale of Real Estate 30,852 0
Interest Expense (20,897) (16,119)
Amortization of Debt Issuance Costs (912) (904)
Total Other Income (Expense) 9,043 (17,023)
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision 70,275 40,308
Equity in Income of Joint Venture 1,402 27,634
Income Tax Provision (1,179) (7,167)
Net Income 70,498 60,775
Less: Net Income Attributable to the Noncontrolling Interests (223) (3,381)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 70,275 57,394
Net Income Allocable to Participating Securities (130) (134)
Net Income Available to Common Stockholders / Unitholders $ 70,145 $ 57,260
Basic and Diluted Earnings Per Share / Unit:    
Net Income Available to Common Stockholders / Unitholders - Basic $ 0.52 $ 0.43
Net Income Available to Common Stockholders / Unitholders - Diluted $ 0.52 $ 0.42
Weighted Average Shares/Units Outstanding - Basic 135,068 134,686
Weighted Average Shares/Units Outstanding - Diluted 135,387 135,231