Earnings Per Share / Unit (EPS / EPU)

12 Months Ended

Dec. 31, 2024

Earnings Per Share and Earnings Per Unit ("EPS"/"EPU")

The computation of basic and diluted EPS of the Company is presented below:


	Year Ended December 31, 2024		Year Ended December 31, 2023		Year Ended December 31, 2022
Numerator:


Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	287,343	$	274,584	$	358,786
Denominator (In Thousands):
Weighted Average Shares - Basic	132,369		132,264		132,024
Effect of Dilutive Securities:
Performance Units (See Note 11)	47		77		79
Weighted Average Shares - Diluted	132,416		132,341		132,103
Basic EPS:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	2.17	$	2.08	$	2.72
Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	2.17	$	2.07	$	2.72

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


	Year Ended December 31, 2024		Year Ended December 31, 2023		Year Ended December 31, 2022
Numerator:


Net Income Available to Unitholders	$	294,670	$	281,150	$	366,642
Denominator (In Thousands):
Weighted Average Units - Basic	135,092		134,777		134,229
Effect of Dilutive Securities that Result in the Issuance of General Partner Units:
Performance Units and certain Performance RLP Units (See Note 11)	334		472		452
Weighted Average Units - Diluted	135,426		135,249		134,681
Basic EPU:
Net Income Available to Unitholders	$	2.18	$	2.09	$	2.73
Diluted EPU:
Net Income Available to Unitholders	$	2.18	$	2.08	$	2.72

At December 31, 2024, 2023 and 2022, participating securities for the Company included 92,663, 100,795 and 143,080, respectively, of Service Awards (see Note 11), which participate in non-forfeitable distributions. At December 31, 2024, 2023, and 2022, participating securities for the Operating Partnership included 259,957, 253,955 and 336,030, respectively, of Service Awards and certain Performance Awards (see Note 11), 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.