v3.26.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Lease Revenue $ 193,944 $ 177,468 $ 387,821 $ 352,844
Joint Venture Fees 30 306 81 732
Other Revenue 966 2,389 1,865 3,661
Total Revenues 194,940 180,163 389,767 357,237
Expenses:        
Property Expenses 47,961 45,454 101,575 93,765
General and Administrative 8,851 8,434 31,824 24,331
Joint Venture Development Services Expense 18 117 49 334
Depreciation and Other Amortization 50,227 47,207 100,295 90,961
Total Expenses 107,057 101,212 233,743 209,391
Other Income (Expense):        
Gain on Sale of Real Estate 16,591 1,121 125,623 7,965
Interest Expense (24,468) (21,722) (48,287) (41,191)
Amortization of Debt Issuance Costs (1,571) (1,328) (3,102) (2,291)
Total Other Income (Expense) (9,448) (21,929) 74,234 (35,517)
Income from Operations Before Equity in Income (Loss) of Joint Venture and Income Tax Benefit (Provision) 78,435 57,022 230,258 112,329
Equity in Income (Loss) of Joint Venture 82 (64) 190 3,413
Income Tax Benefit (Provision) 1,177 (79) (2,836) (5,979)
Net Income 79,694 56,879 227,612 109,763
Less: Net Income Attributable to the Noncontrolling Interests (2,598) (1,694) (7,415) (6,475)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 77,096 55,185 220,197 103,288
Net Income Allocable to Participating Securities (43) (39) (106) (75)
Net Income Available to Common Stockholders / Unitholders $ 77,053 $ 55,146 $ 220,091 $ 103,213
Basic and Diluted Earnings Per Share / Unit:        
Net Income Available to Common Stockholders / Unitholders - Basic $ 0.58 $ 0.42 $ 1.66 $ 0.78
Net Income Available to Common Stockholders / Unitholders - Diluted $ 0.58 $ 0.42 $ 1.66 $ 0.78
Weighted Average Shares/Units Outstanding - Basic 132,605 132,431 132,589 132,423
Weighted Average Shares/Units Outstanding - Diluted 132,668 132,479 132,654 132,486
First Industrial, L.P.        
Revenues:        
Lease Revenue $ 193,944 $ 177,468 $ 387,821 $ 352,844
Joint Venture Fees 30 306 81 732
Other Revenue 966 2,389 1,865 3,661
Total Revenues 194,940 180,163 389,767 357,237
Expenses:        
Property Expenses 47,961 45,454 101,575 93,765
General and Administrative 8,851 8,434 31,824 24,331
Joint Venture Development Services Expense 18 117 49 334
Depreciation and Other Amortization 50,227 47,207 100,295 90,961
Total Expenses 107,057 101,212 233,743 209,391
Other Income (Expense):        
Gain on Sale of Real Estate 16,591 1,121 125,623 7,965
Interest Expense (24,468) (21,722) (48,287) (41,191)
Amortization of Debt Issuance Costs (1,571) (1,328) (3,102) (2,291)
Total Other Income (Expense) (9,448) (21,929) 74,234 (35,517)
Income from Operations Before Equity in Income (Loss) of Joint Venture and Income Tax Benefit (Provision) 78,435 57,022 230,258 112,329
Equity in Income (Loss) of Joint Venture 82 (64) 190 3,413
Income Tax Benefit (Provision) 1,177 (79) (2,836) (5,979)
Net Income 79,694 56,879 227,612 109,763
Less: Net Income Attributable to the Noncontrolling Interests (40) (24) (84) (3,362)
Net Income Available to Common Stockholders / Unitholders and Participating Securities 79,654 56,855 227,528 106,401
Net Income Allocable to Participating Securities (123) (93) (310) (177)
Net Income Available to Common Stockholders / Unitholders $ 79,531 $ 56,762 $ 227,218 $ 106,224
Basic and Diluted Earnings Per Share / Unit:        
Net Income Available to Common Stockholders / Unitholders - Basic $ 0.59 $ 0.42 $ 1.67 $ 0.78
Net Income Available to Common Stockholders / Unitholders - Diluted $ 0.58 $ 0.42 $ 1.66 $ 0.78
Weighted Average Shares/Units Outstanding - Basic 135,935 135,464 135,925 135,452
Weighted Average Shares/Units Outstanding - Diluted 136,473 135,885 136,483 136,000