v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues      
Lease Revenue $ 719,220 $ 660,967 $ 602,294
Joint Venture Fees 1,364 2,545 5,159
Other Revenue 6,492 6,129 6,574
Total Revenues 727,076 669,641 614,027
Expenses:      
Property Expenses 191,480 182,821 165,655
General and Administrative 41,945 40,935 37,121
Joint Venture Development Services Expense 629 1,529 3,667
Depreciation and Other Amortization 185,316 171,939 162,951
Total Expenses 419,370 397,224 369,394
Other Income (Expense):      
Gain on Sale of Real Estate 26,905 111,970 95,650
Interest Expense (84,886) (82,973) (74,335)
Amortization of Debt Issuance Costs (5,033) (3,646) (3,626)
Total Other Income (Expense) (63,014) 25,351 17,689
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision 244,692 297,768 262,322
Equity in Income of Joint Venture 34,669 4,295 32,207
Income Tax Provision (15,282) (6,075) (8,692)
Net Income 264,079 295,988 285,837
Less: Net Income Attributable to the Noncontrolling Interests (16,636) (8,434) (11,021)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 247,443 287,554 274,816
Net Income Allocable to Participating Securities (146) (211) (232)
Net Income Available to Common Stockholders / Unitholders $ 247,297 $ 287,343 $ 274,584
Basic Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 1.87 $ 2.17 $ 2.08
Diluted Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 1.87 $ 2.17 $ 2.07
Weighted Average Shares/Units Outstanding - Basic 132,446 132,369 132,264
Weighted Average Shares / Units Outstanding - Diluted 132,514 132,416 132,341
First Industrial, L.P.      
Revenues      
Lease Revenue $ 719,220 $ 660,967 $ 602,294
Joint Venture Fees 1,364 2,545 5,159
Other Revenue 6,492 6,129 6,574
Total Revenues 727,076 669,641 614,027
Expenses:      
Property Expenses 191,480 182,821 165,655
General and Administrative 41,945 40,935 37,121
Joint Venture Development Services Expense 629 1,529 3,667
Depreciation and Other Amortization 185,316 171,939 162,951
Total Expenses 419,370 397,224 369,394
Other Income (Expense):      
Gain on Sale of Real Estate 26,905 111,970 95,650
Interest Expense (84,886) (82,973) (74,335)
Amortization of Debt Issuance Costs (5,033) (3,646) (3,626)
Total Other Income (Expense) (63,014) 25,351 17,689
Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision 244,692 297,768 262,322
Equity in Income of Joint Venture 34,669 4,295 32,207
Income Tax Provision (15,282) (6,075) (8,692)
Net Income 264,079 295,988 285,837
Less: Net Income Attributable to the Noncontrolling Interests (9,162) (744) (4,136)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 254,917 295,244 281,701
Net Income Allocable to Participating Securities (367) (574) (551)
Net Income Available to Common Stockholders / Unitholders $ 254,550 $ 294,670 $ 281,150
Basic Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 1.88 $ 2.18 $ 2.09
Diluted Earnings Per Share / Unit:      
Net Income Available to Common Stockholders/Unitholders $ 1.87 $ 2.18 $ 2.08
Weighted Average Shares/Units Outstanding - Basic 135,466 135,092 134,777
Weighted Average Shares / Units Outstanding - Diluted 136,038 135,426 135,249