Earnings Per Share / Unit (EPS / EPU)

3 Months Ended

Mar. 31, 2025

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 March 31, 2025		Three Months Ended March 31, 2024
Numerator:



Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	48,067	$	68,407
Denominator (In Thousands):
Weighted Average Shares - Basic	132,415		132,360
Effect of Dilutive Securities:
Performance Units (See Note 9)	78		46
Weighted Average Shares - Diluted	132,493		132,406
Basic and Diluted EPS:
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders	$	0.36	$	0.52

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


	Three Months Ended March 31, 2025		Three Months Ended March 31, 2024
Numerator:


Net Income Available to Unitholders	$	49,462	$	70,145
Denominator (In Thousands):
Weighted Average Units - Basic	135,440		135,068
Effect of Dilutive Securities:
Performance Units and certain Performance RLP Units (See Note 9)	675		319
Weighted Average Units - Diluted	136,115		135,387
Basic EPU:
Net Income Available to Unitholders	$	0.37	$	0.52
Diluted EPU:
Net Income Available to Unitholders	$	0.36	$	0.52

At March 31, 2025 and 2024, participating securities for the Company included 94,445 and 102,704, respectively, of Service Awards (see Note 9), which participate in non-forfeitable distributions. At March 31, 2025 and 2024, participating securities for the Operating Partnership included 215,313 and 271,001, 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.