XML 51 R15.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Earnings Per Share (EPS) | 3 Months Ended
--- | ---
Mar. 31, 2014
Earnings Per Share [Abstract] |
Earnings Per Share (EPS) | 8. Earnings Per Share ("EPS") The computation of basic and diluted EPS is presented below:
| Three Months Ended March 31, 2014 |  | Three Months Ended March 31, 2013
Numerator: |  |  |
Income from Continuing Operations | $ | 4,334 |  |  | $ | 873 |
Gain on Sale of Real Estate | — |  |  | 262 |
Noncontrolling Interest Allocable to Continuing Operations | (75 | ) |  | 120 |
Income from Continuing Operations Allocable to Participating Securities | (23 | ) |  | (36 | )
Income from Continuing Operations Attributable to First Industrial Realty Trust, Inc. | 4,236 |  |  | 1,219 |
Preferred Dividends | (1,019 | ) |  | (3,837 | )
Redemption of Preferred Stock | (1,462 | ) |  | — |
Income (Loss) from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | 1,755 |  |  | $ | (2,618 | )
Income (Loss) from Discontinued Operations | $ | 733 |  |  | $ | (2,258 | )
Noncontrolling Interest Allocable to Discontinued Operations | (29 | ) |  | 100 |
Income from Discontinued Operations Allocable to Participating Securities | (9 | ) |  | — |
Income (Loss) from Discontinued Operations Attributable to First Industrial Realty Trust, Inc. | $ | 695 |  |  | $ | (2,158 | )
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders and Participating Securities | $ | 2,482 |  |  | $ | (4,740 | )
Net Income Allocable to Participating Securities | (32 | ) |  | (36 | )
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | 2,450 |  |  | $ | (4,776 | )
Denominator: |  |  |
Weighted Average Shares—Basic | 109,676 |  |  | 100,774 |
Effect of Dilutive Securities: |  |  |
LTIP Unit Awards | 539 |  |  | — |
Weighted Average Shares—Diluted | 110,215 |  |  | 100,774 |
Basic and Diluted EPS: |  |  |
Income (Loss) from Continuing Operations Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | 0.02 |  |  | $ | (0.03 | )
Income (Loss) from Discontinued Operations Attributable to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | 0.00 |  |  | $ | (0.02 | )
Net Income (Loss) Available to First Industrial Realty Trust, Inc.’s Common Stockholders | $ | 0.02 |  |  | $ | (0.05 | )
Participating securities include 349,331 and 490,591 of unvested restricted stock awards outstanding at March 31, 2014 and 2013, respectively, which participate in non-forfeitable dividends of the Company. Under the two class method, participating security holders are allocated income, in proportion to total weighted average shares outstanding, based upon the greater of net income (after reduction for preferred dividends and redemption of preferred stock) or common dividends declared. The number of weighted average shares—diluted is the same as the number of weighted average shares—basic for the three months ended March 31, 2013, as the effect of the 383,500 restricted stock unit awards outstanding at March 31, 2013 which 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. Effective July 1, 2013, the Board of Directors granted performance awards ("LTIP Unit Awards") to certain officers and employees. At March 31, 2014, 712,424 LTIP Unit Awards were outstanding and are included in the calculation of diluted EPS. There were 73,400 other outstanding restricted unit awards outstanding at March 31, 2014 that are not included in the calculation of diluted EPS for the three months ended March 31, 2014, as the market condition contained within the restricted unit awards had not been achieved as of March 31, 2014. These restricted unit awards could be dilutive in future periods.

X
- Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration