v3.25.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Lease Revenue $ 177,468 $ 162,075 $ 352,844 $ 321,810
Joint Venture Fees 306 604 732 1,273
Other Revenue 2,389 1,457 3,661 3,325
Total Revenues 180,163 164,136 357,237 326,408
Expenses:        
Property Expenses 45,454 43,051 93,765 90,065
General and Administrative 8,434 9,621 24,331 21,402
Joint Venture Development Services Expense 117 371 334 797
Depreciation and Other Amortization 47,207 43,048 90,961 84,867
Total Expenses 101,212 96,091 209,391 197,131
Other Income (Expense):        
Gain on Sale of Real Estate 1,121 6,135 7,965 36,987
Interest Expense (21,722) (21,126) (41,191) (42,023)
Amortization of Debt Issuance Costs (1,328) (912) (2,291) (1,824)
Total Other Income (Expense) (21,929) (15,903) (35,517) (6,860)
Income from Operations Before Equity in (Loss) Income of Joint Venture and Income Tax Provision 57,022 52,142 112,329 122,417
Equity in (Loss) Income of Joint Venture (64) 1,160 3,413 2,562
Income Tax Provision (79) (426) (5,979) (1,605)
Net Income 56,879 52,876 109,763 123,374
Less: Net Income Attributable to the Noncontrolling Interests (1,694) (1,558) (6,475) (3,604)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 55,185 51,318 103,288 119,770
Net Income Allocable to Participating Securities (39) (41) (75) (86)
Net Income Available to Common Stockholders / Unitholders $ 55,146 $ 51,277 $ 103,213 $ 119,684
Basic and Diluted Earnings Per Share / Unit:        
Net Income Available to Common Stockholders / Unitholders - Basic $ 0.42 $ 0.39 $ 0.78 $ 0.90
Net Income Available to Common Stockholders / Unitholders - Diluted $ 0.42 $ 0.39 $ 0.78 $ 0.90
Weighted Average Shares/Units Outstanding - Basic 132,431 132,368 132,423 132,364
Weighted Average Shares/Units Outstanding - Diluted 132,479 132,399 132,486 132,402
First Industrial, L.P.        
Revenues:        
Lease Revenue $ 177,468 $ 162,075 $ 352,844 $ 321,810
Joint Venture Fees 306 604 732 1,273
Other Revenue 2,389 1,457 3,661 3,325
Total Revenues 180,163 164,136 357,237 326,408
Expenses:        
Property Expenses 45,454 43,051 93,765 90,065
General and Administrative 8,434 9,621 24,331 21,402
Joint Venture Development Services Expense 117 371 334 797
Depreciation and Other Amortization 47,207 43,048 90,961 84,867
Total Expenses 101,212 96,091 209,391 197,131
Other Income (Expense):        
Gain on Sale of Real Estate 1,121 6,135 7,965 36,987
Interest Expense (21,722) (21,126) (41,191) (42,023)
Amortization of Debt Issuance Costs (1,328) (912) (2,291) (1,824)
Total Other Income (Expense) (21,929) (15,903) (35,517) (6,860)
Income from Operations Before Equity in (Loss) Income of Joint Venture and Income Tax Provision 57,022 52,142 112,329 122,417
Equity in (Loss) Income of Joint Venture (64) 1,160 3,413 2,562
Income Tax Provision (79) (426) (5,979) (1,605)
Net Income 56,879 52,876 109,763 123,374
Less: Net Income Attributable to the Noncontrolling Interests (24) (171) (3,362) (394)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 56,855 52,705 106,401 122,980
Net Income Allocable to Participating Securities (93) (108) (177) (238)
Net Income Available to Common Stockholders / Unitholders $ 56,762 $ 52,597 $ 106,224 $ 122,742
Basic and Diluted Earnings Per Share / Unit:        
Net Income Available to Common Stockholders / Unitholders - Basic $ 0.42 $ 0.39 $ 0.78 $ 0.91
Net Income Available to Common Stockholders / Unitholders - Diluted $ 0.42 $ 0.39 $ 0.78 $ 0.91
Weighted Average Shares/Units Outstanding - Basic 135,464 135,096 135,452 135,082
Weighted Average Shares/Units Outstanding - Diluted 135,885 135,313 136,000 135,350