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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Revenues:    
Lease Revenue $ 175,376 $ 159,735
Joint Venture Fees 426 669
Other Revenue 1,272 1,868
Total Revenues 177,074 162,272
Expenses:    
Property Expenses 48,311 47,014
General and Administrative 15,897 11,781
Joint Venture Development Services Expense 217 426
Depreciation and Other Amortization 43,754 41,819
Total Expenses 108,179 101,040
Other Income (Expense):    
Gain on Sale of Real Estate 6,844 30,852
Interest Expense (19,469) (20,897)
Amortization of Debt Issuance Costs (963) (912)
Total Other Income (Expense) (13,588) 9,043
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision 55,307 70,275
Equity in Income of Joint Venture 3,477 1,402
Income Tax Provision (5,900) (1,179)
Net Income 52,884 70,498
Less: Net Income Attributable to the Noncontrolling Interests (4,781) (2,046)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 48,103 68,452
Net Income Allocable to Participating Securities (36) (45)
Net Income Available to Common Stockholders / Unitholders $ 48,067 $ 68,407
Basic and Diluted Earnings Per Share / Unit:    
Net Income Available to Common Stockholders / Unitholders - Basic $ 0.36 $ 0.52
Net Income Available to Common Stockholders / Unitholders - Diluted $ 0.36 $ 0.52
Weighted Average Shares/Units Outstanding - Basic 132,415 132,360
Weighted Average Shares/Units Outstanding - Diluted 132,493 132,406
First Industrial, L.P.    
Revenues:    
Lease Revenue $ 175,376 $ 159,735
Joint Venture Fees 426 669
Other Revenue 1,272 1,868
Total Revenues 177,074 162,272
Expenses:    
Property Expenses 48,311 47,014
General and Administrative 15,897 11,781
Joint Venture Development Services Expense 217 426
Depreciation and Other Amortization 43,754 41,819
Total Expenses 108,179 101,040
Other Income (Expense):    
Gain on Sale of Real Estate 6,844 30,852
Interest Expense (19,469) (20,897)
Amortization of Debt Issuance Costs (963) (912)
Total Other Income (Expense) (13,588) 9,043
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision 55,307 70,275
Equity in Income of Joint Venture 3,477 1,402
Income Tax Provision (5,900) (1,179)
Net Income 52,884 70,498
Less: Net Income Attributable to the Noncontrolling Interests (3,338) (223)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 49,546 70,275
Net Income Allocable to Participating Securities (84) (130)
Net Income Available to Common Stockholders / Unitholders $ 49,462 $ 70,145
Basic and Diluted Earnings Per Share / Unit:    
Net Income Available to Common Stockholders / Unitholders - Basic $ 0.37 $ 0.52
Net Income Available to Common Stockholders / Unitholders - Diluted $ 0.36 $ 0.52
Weighted Average Shares/Units Outstanding - Basic 135,440 135,068
Weighted Average Shares/Units Outstanding - Diluted 136,115 135,387