FIRST INDUSTRIAL REALTY TRUST INC
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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FY2023 · Filed Feb 14, 2024
FR$54.96+0.1%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, 2023* | Year Ended December 31, 2022 | Year Ended December 31, 2021* | |
|---|---|---|---|
| (In thousands) | |||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net Income | $46,664 | $171,511 | $(155) |
| Adjustments to Reconcile Net Income to Net Cash Provided By (Used in) Operating Activities: | |||
| Gain on Sale of Real Estate | (40,616) | (171,671) | — |
| Decrease in Prepaid Expenses and Other Assets, Net | 34 | 1 | 7 |
| Increase (Decrease) in Accounts Payable, Accrued Expenses, Rents Received in Advance and Due to Related Party | 1,692 | (25) | (51) |
| Net Cash Provided By (Used in) Operating Activities | 7,774 | (184) | (199) |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Acquisition of Real Estate | — | — | (393) |
| Development Expenditures | (116,954) | (15,251) | (638) |
| Lease Costs | (1,781) | — | — |
| Earnest Money Deposit Received on Property Held for Sale | — | 7,000 | — |
| Net Proceeds from the Sale of Real Estate | 39,811 | 239,753 | — |
| Net Cash (Used In) Provided by Investing Activities | (78,924) | 231,502 | (1,031) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from Construction Loan | 82,751 | 9,037 | — |
| Debt Issuance Costs | (3) | (1,380) | (3) |
| Contributions from Members | 25,203 | 9,868 | 468 |
| Distributions to Members | (15,103) | (239,750) | — |
| Net Cash Provided by (Used in) Financing Activities | 92,848 | (222,225) | 465 |
| Net Increase (Decrease) in Cash and Cash Equivalents | 21,698 | 9,093 | (765) |
| Cash and Cash Equivalents, Beginning of Period | 9,178 | 85 | 850 |
| Cash and Cash Equivalents, End of Period | $30,876 | $9,178 | $85 |
| Supplemental Information to Statements of Cash Flows: | |||
| Interest Expense Capitalized In Connection with Development | $4,537 | $103 | $— |
| Non-Cash Investing and Financing Activities: | |||
| Accrued Expenses Related to Development Expenditures | $27,294 | $19,799 | $386 |
| Accrued Expenses Related to Lease Costs | $1,561 | $— | $— |
| Liabilities Arising from the Sale of Real Estate | $1,410 | $19,715 | $— |
| Interest Expense included in Construction Loan Payable | $3,923 | $— | $— |
| Accrued Expenses Related to Debt Issuance Costs | $— | $— | $32 |
| Debt Issuance Cost Amortization Capitalized in Connection with Development | $461 | $192 | $— |
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