XML 56 R34.htm IDEA: XBRL DOCUMENT
v3.22.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Components of Income Tax (Provision) Benefit | The components of the income tax provision for the years ended December 31, 2022, 2021 and 2020 is comprised of the following:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Current: |  |  |  |  |
Federal | $ | (226) |  |  | $ | (2,458) |  |  | $ | (3,659) |
State | (356) |  |  | (1,936) |  |  | (1,718) |
Deferred: |  |  |  |  |
Federal | (19,154) |  |  | (454) |  |  | 2,969 |
State | (3,627) |  |  | (31) |  |  | — |
Total Income Tax Provision | $ | (23,363) |  |  | $ | (4,879) |  |  | $ | (2,408) |
Deferred Tax Assets (Liabilities) | Deferred income taxes represent the tax effect of the temporary differences between the book and tax basis of assets and liabilities. Deferred income tax assets and liabilities include the following as of December 31, 2022 and 2021:
| Year Ended December 31,
| 2022 |  | 2021
Basis Difference - Real Estate | $ | 1,603 |  |  | $ | 332 |
Section 163(j) Interest Limitation | 551 |  |  | 316 |
Other - Temporary Differences | 263 |  |  | 243 |
Total Deferred Income Tax Assets, Net of Allowance | $ | 2,417 |  |  | $ | 891 |
Deferred Income - Investment in Joint Venture | $ | (24,340) |  |  | $ | — |
Other - Temporary Differences | (299) |  |  | (332) |
Total Deferred Income Tax Liabilities | $ | (24,639) |  |  | $ | (332) |
Total Net Deferred Income Tax (Liabilities) Assets | $ | (22,222) |  |  | $ | 559 |
Federal Income Tax Treatment of Common Dividends | For the years ended December 31, 2022, 2021 and 2020, the dividends paid to the Company's common shareholders per common share for income tax purposes were characterized as follows:
| 2022 |  | As a Percentage of Distributions |  | 2021 |  | As a Percentage of Distributions |  | 2020 |  | As a Percentage of Distributions
Ordinary Income (A) | $ | 1.0720 |  |  | 90.85 | % |  | $ | 0.9928 |  |  | 91.93 | % |  | $ | 0.5800 |  |  | 58.00 | %
Unrecaptured Section 1250 Capital Gain | 0.0060 |  |  | 0.51 | % |  | 0.0060 |  |  | 0.55 | % |  | 0.2576 |  |  | 25.76 | %
Other Capital Gain (B) | 0.0168 |  |  | 1.42 | % |  | 0.0128 |  |  | 1.19 | % |  | 0.1624 |  |  | 16.24 | %
Qualified Dividend | 0.0852 |  |  | 7.22 | % |  | 0.0684 |  |  | 6.33 | % |  | — |  |  | 0.00 | %
| $ | 1.1800 |  |  | 100.00 | % |  | $ | 1.0800 |  |  | 100.00 | % |  | $ | 1.0000 |  |  | 100.00 | %
(A) For the years ended December 31, 2022, 2021 and 2020, the Code Section 199A dividend is equal to the total ordinary income dividend. (B) For the year ended December 31, 2022, Section 1061 of the Code related to Capital Gains for One Year Amounts was 52.0% and for Three Year Amounts was 12.6%.

X
- Definition For income tax purposes, distributions paid to common shareholders are classified as ordinary income, capital gain, return of capital or qualified dividends. + References No definition available. + Details
Name: | fr_FederalIncomeTaxTreatmentofCommonDividendsTableTextBlock
Namespace Prefix: | fr_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration