XML 20 R15.htm IDEA: XBRL DOCUMENT v2.3.0.15
Earnings Per Share (EPS)
9 Months Ended
Sep. 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
Ended
September 30,
2011
    Three Months
Ended
September 30,
2010
    Nine Months
Ended
September 30,
2011
    Nine Months
Ended
September 30,
2010
 

Numerator:

                               

Loss from Continuing Operations, Net of Income Tax

  $ (11,162   $ (79,387   $ (25,026   $ (123,258

Noncontrolling Interest Allocable to Continuing Operations

    927       6,651       2,492       10,823  

Gain (Loss) on Sale of Real Estate, Net of Income Tax

    627       (214     1,246       198  

Noncontrolling Interest Allocable to Gain (Loss) on Sale of Real Estate

    (36     17       (78     (16

Preferred Stock Dividends

    (4,928     (4,884     (14,802     (14,823
   

 

 

   

 

 

   

 

 

   

 

 

 

Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders

  $ (14,572   $ (77,817   $ (36,168   $ (127,076
   

 

 

   

 

 

   

 

 

   

 

 

 

Income (Loss) from Discontinued Operations, Net of Income Tax

  $ 5,998     $ (82,884   $ 14,766     $ (73,344

Noncontrolling Interest Allocable to Discontinued Operations

    (344     6,432       (924     5,750  
   

 

 

   

 

 

   

 

 

   

 

 

 

Income (Loss) from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.

  $ 5,654     $ (76,452   $ 13,842     $ (67,594
   

 

 

   

 

 

   

 

 

   

 

 

 

Net Loss Available to First Industrial Realty Trust, Inc.’s Common Stockholders

  $ (8,918   $ (154,269   $ (22,326   $ (194,670
   

 

 

   

 

 

   

 

 

   

 

 

 

Denominator:

                               

Weighted Average Shares — Basic and Diluted

    85,930,470       63,100,012       78,821,342       62,583,149  
   

 

 

   

 

 

   

 

 

   

 

 

 

Basic and Diluted EPS:

                               

Loss from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders

  $ (0.17   $ (1.23   $ (0.46   $ (2.03
   

 

 

   

 

 

   

 

 

   

 

 

 

Income (Loss) from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders

  $ 0.07     $ (1.21   $ 0.18     $ (1.08
   

 

 

   

 

 

   

 

 

   

 

 

 

Net Loss Available to First Industrial Realty Trust, Inc.’s Common Stockholders

  $ (0.10   $ (2.44   $ (0.28   $ (3.11
   

 

 

   

 

 

   

 

 

   

 

 

 

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

 

                                 
    Unvested  Awards
Outstanding at
September  30,
2011
    Allocation of
Net Income
Available to
Participating
Securities For
the Three and
Nine Months Ended
September  30,
2011
    Unvested Awards
Outstanding at
September 30,
2010
    Allocation of
Net Income
Available to
Participating
Securities For
the Three and
Nine Months Ended
September  30,
2010
 

Participating Securities:

                               

Restricted Stock Awards

    688,708     $ —         665,632     $ —    

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

The number of weighted average shares — diluted is the same as the number of weighted average shares — basic for the three and nine months ended September 30, 2011 and September 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 could be dilutive in future periods:

 

                 
    Number of
Awards
Outstanding At
September 30,
2011
    Number of
Awards
Outstanding At
September 30,
2010
 

Non-Participating Securities:

               

Restricted Stock Unit Awards

    923,700       1,162,800  

Options

    25,201       98,701