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Earnings Per Share / Unit (EPS / EPU) | 3 Months Ended
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Mar. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Share / Unit (EPS / EPU) | Earnings Per Share and Earnings Per Unit ("EPS"/"EPU") The computation of basic and diluted EPS of the Company is presented below:
| Three Months Ended March 31, 2024 |  | Three Months Ended March 31, 2023 |  |  |  |
Numerator: |  |  |  |  |  |  |
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders | $ | 68,407 |  |  | $ | 55,920 |  |  |  |  |
Denominator (In Thousands): |  |  |  |  |  |  |
Weighted Average Shares - Basic | 132,360 |  |  | 132,211 |  |  |  |  |
Effect of Dilutive Securities: |  |  |  |  |  |  |
Performance Units (See Note 9) | 46 |  |  | 88 |  |  |  |  |
Weighted Average Shares - Diluted | 132,406 |  |  | 132,299 |  |  |  |  |
Basic and Diluted EPS: |  |  |  |  |  |  |
Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders | $ | 0.52 |  |  | $ | 0.42 |  |  |  |  |
The computation of basic and diluted EPU of the Operating Partnership is presented below:
| Three Months Ended March 31, 2024 |  | Three Months Ended March 31, 2023 |  |  |  |
Numerator: |  |  |  |  |  |  |
Net Income Available to Unitholders | $ | 70,145 |  |  | $ | 57,260 |  |  |  |  |
Denominator (In Thousands): |  |  |  |  |  |  |
Weighted Average Units - Basic | 135,068 |  |  | 134,686 |  |  |  |  |
Effect of Dilutive Securities: |  |  |  |  |  |  |
Performance Units and certain Performance RLP Units (See Note 9) | 319 |  |  | 545 |  |  |  |  |
Weighted Average Units - Diluted | 135,387 |  |  | 135,231 |  |  |  |  |
Basic EPU: |  |  |  |  |  |  |
Net Income Available to Unitholders | $ | 0.52 |  |  | $ | 0.43 |  |  |  |  |
Diluted EPU: |  |  |  |  |  |  |
Net Income Available to Unitholders | $ | 0.52 |  |  | $ | 0.42 |  |  |  |  |
At March 31, 2024 and 2023, participating securities for the Company included 102,704 and 130,728, respectively, of Service Awards (see Note 9), which participate in non-forfeitable distributions. At March 31, 2024 and 2023, participating securities for the Operating Partnership included 271,001 and 347,165, respectively, of Service Awards and certain Performance Awards (see Note 9), which participate in non-forfeitable distributions. Under the two-class method, participating security holders are allocated income, in proportion to total weighted average shares or Units outstanding, based upon the greater of net income or common stock dividends or Unit distributions declared.

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