Company: FR
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000921825-25-000019
Chunk: 148

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 10
Chunk 148
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 integral part of the consolidated financial statements.

55

FIRST INDUSTRIAL REALTY TRUST, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022 (In thousands, except per share data)Revenues:Lease Revenue$660,967 $602,294 $532,237 Joint Venture Fees2,545 5,159 1,322 Other Revenue6,129 6,574 6,370 Total Revenues669,641 614,027 539,929 Expenses:Property Expenses182,821 165,655 143,663 General and Administrative40,935 37,121 33,972 Joint Venture Development Services Expense1,529 3,667 909 Depreciation and Other Amortization171,939 162,951 147,420 Total Expenses397,224 369,394 325,964 Other Income (Expense):Gain on Sale of Real Estate111,970 95,650 128,268 Interest Expense(82,973)(74,335)(49,013)Amortization of Debt Issuance Costs(3,646)(3,626)(3,187)Total Other Income (Expense)25,351 17,689 76,068 Income from Operations Before Equity in Income of Joint Venture and Income Tax Provision297,768 262,322 290,033 Equity in Income of Joint Venture4,295 32,207 114,942 Income Tax Provision(6,075)(8,692)(23,363)Net Income295,988 285,837 381,612 Less: Net Income Attributable to the Noncontrolling Interests(8,434)(11,021)(22,478)Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders and Participating Securities$287,554 $274,816 $359,134 Net Income Allocable to Participating Securities(211)(232)(348)Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders$287,343 $274,584 $358,786 Basic Earnings Per Share:Net Income Available to First Industrial Realty Trust, Inc.'s Common Stockholders$2.17 $2.08 $2.72