Company: FR
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000921825-25-000019
Chunk: 307

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 11
Chunk 307
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,103 Basic EPS:Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders$2.17 $2.08 $2.72 Diluted EPS:Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders$2.17 $2.07 $2.72 The computation of basic and diluted EPU of the Operating Partnership is presented below:Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Numerator:Net Income Available to Unitholders$294,670 $281,150 $366,642 Denominator (In Thousands):Weighted Average Units - Basic135,092 134,777 134,229 Effect of Dilutive Securities that Result in the Issuance of General Partner Units:Performance Units and certain Performance RLP Units (See Note 11)334 472 452 Weighted Average Units - Diluted135,426 135,249 134,681 Basic EPU:Net Income Available to Unitholders$2.18 $2.09 $2.73 Diluted EPU:Net Income Available to Unitholders$2.18 $2.08 $2.72 At December 31, 2024, 2023 and 2022, participating securities for the Company included 92,663, 100,795 and 143,080, respectively, of Service Awards (see Note 11), which participate in non-forfeitable distributions. At December 31, 2024, 2023, and 2022, participating securities for the Operating Partnership included 259,957, 253,955 and 336,030, respectively, of Service Awards and certain Performance Awards (see Note 11), 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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9. Income Taxes

Our Consolidated Financial Statements include the operations of our TRSs, which are not entitled to the dividends paid deduction and are subject to federal, state and local income taxes on its taxable income. During the years ended December 31, 2024, 2023 and 2022, the Company qualified as a REIT and incurred no federal