Company: FR
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000921825-25-000019
Chunk: 669

Company: FIRST INDUSTRIAL REALTY TRUST INC
Filing Date: 2025-02-14
Form: 10-K
Item: Item 16
Chunk 669
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 do not have any unrecognized tax benefits.We file income tax returns in the U.S. and various states. The statute of limitations for income tax returns is generally three years. As such, our tax returns that are subject to examination would be primarily from 2021 and thereafter. There were no material interest or penalties recorded for the years ended December 31, 2024, 2023 and 2022.Federal Income Tax Treatment of Common DividendsFor the years ended December 31, 2024, 2023 and 2022, the dividends paid to the Company's common shareholders per common share for income tax purposes were characterized as follows:2024As aPercentageofDistributions2023As aPercentageofDistributions2022As aPercentageofDistributionsOrdinary Income (A)$0.7080 47.84 %$0.6756 52.78 %$1.0720 90.85 %Unrecaptured Section 1250 Capital Gain0.2948 19.92 %0.0536 4.19 %0.0060 0.51 %Other Capital Gain (B)0.4772 32.24 %0.0956 7.47 %0.0168 1.42 %Qualified Dividend— 0.00 %0.4552 35.56 %0.0852 7.22 %$1.4800 100.00 %$1.2800 100.00 %$1.1800 100.00 %(A)  For the years ended December 31, 2024, 2023 and 2022, the Code Section 199A dividend is equal to the total ordinary income dividend.(B) For the years ended December 31, 2024, 2023 and 2022, Section 1061 of the Code related to Capital Gains for the One Year Amounts was 0%, 0% and 52.0%, respectively, and for the Three Year Amounts was 0%, 0% and 12.6%, respectively.

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10. Leases

Lessee DisclosuresWe are a lessee on a limited number of ground and office leases (the "Operating Leases"). Our office leases have remaining lease terms of less than one year to five years and our ground leases have remaining terms of 30 years to 45 years