Earnings Per Share (EPS)

6 Months Ended

Jun. 30, 2011

Earnings Per Share (EPS) [Abstract]

Earnings Per Share (EPS)

8. Earnings Per Share (“EPS”)

     The computation of basic and diluted EPS is presented below:

	Three Months			Three Months			Six Months			Six Months
	Ended			Ended			Ended			Ended
	June 30,			June 30,			June 30,			June 30,
	2011			2010			2011			2010
Numerator:
Loss from Continuing Operations, Net of Income Tax	$	(6,536	)	$	(20,073	)	$	(17,952	)	$	(44,608	)
Noncontrolling Interest Allocable to Continuing Operations		688			1,948			1,828			4,300
Gain on Sale of Real Estate, Net of Income Tax		—			—			—			692
Noncontrolling Interest Allocable to Gain on Sale of Real Estate		—			—			—			(55	)
Preferred Stock Dividends		(4,947	)		(4,979	)		(9,874	)		(9,939	)
Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	(10,795	)	$	(23,104	)	$	(25,998	)	$	(49,610	)
Income from Discontinued Operations, Net of Income Tax	$	6,442		$	4,964		$	13,475		$	9,997
Noncontrolling Interest Allocable to Discontinued Operations		(398	)		(387	)		(885	)		(788	)
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.	$	6,044		$	4,577		$	12,590		$	9,209
Net Loss Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	(4,751	)	$	(18,527	)	$	(13,408	)	$	(40,401	)
Denominator:
Weighted Average Shares — Basic and Diluted		79,726,916			62,838,431			75,207,863			62,320,434
Basic and Diluted EPS:
Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	(0.14	)	$	(0.37	)	$	(0.35	)	$	(0.80	)
Income from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders	$	0.08		$	0.07		$	0.17		$	0.15
Net Loss Available to First Industrial Realty Trust, Inc.’s Common Stockholders	$	(0.06	)	$	(0.29	)	$	(0.18	)	$	(0.65	)

     Participating securities include unvested restricted stock awards outstanding that participate in non-forfeitable dividends of the Company.

			Allocation of				Allocation of
			Net Income				Net Income
			Available to				Available to
			Participating				Participating
			Securities For				Securities For
	Unvested Awards		the Three and		Unvested Awards		the Three and
	Outstanding at		SixMonths Ended		Outstanding at		SixMonths Ended
	June 30,		June 30,		June 30,		June 30,
	2011		2011		2010		2010
Participating Securities:
Restricted Stock Awards		694,708	$	—		723,295	$	—

     Participating security holders are not obligated to share in losses. Therefore, none of the loss was allocated to participating securities for the three and six months ended June 30, 2011 and June 30, 2010.

     The number of weighted average shares — diluted is the same as the number of weighted average shares — basic for the three and six months ended June 30, 2011 and June 30, 2010, as the effect of stock options and restricted stock unit awards (that do not participate in non-forfeitable dividends of the Company) was excluded as its inclusion would have been antidilutive to the loss from continuing operations available to First Industrial Realty Trust, Inc.’s common stockholders. The following awards were anti-dilutive and could be dilutive in future periods:

	Number of		Number of
	Awards		Awards
	Outstanding At		Outstanding At
	June 30,		June 30,
	2011		2010
Non-Participating Securities:
Restricted Stock Unit Awards		923,700		1,190,800
Options		31,901		119,700

     The 2011 Exchangeable Notes are convertible into shares of common stock of the Company at a price of $50.93 and were not included in the computation of diluted EPS as our average stock price did not exceed the strike price of the conversion feature.