FIRST INDUSTRIAL REALTY TRUST INC
For the period ended Sep 30, 2024. Filed Oct 18, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 18, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
7. Accumulated Other Comprehensive Income
- Accumulated Other Comprehensive Income
The following table summarizes the changes in accumulated other comprehensive income by component for the Company and the Operating Partnership for the nine months ended September 30, 2024:
| Derivative Instruments | Accumulated Other Comprehensive Income of the Operating Partnership | Comprehensive (Loss) Income Attributable to Noncontrolling Interest of the Company | Accumulated Other Comprehensive Income of the Company | |
|---|---|---|---|---|
| Balance as of December 31, 2023 | $22,842 | $22,842 | $(570) | $22,272 |
| Other Comprehensive Income Before Reclassifications | 5,196 | 5,196 | 304 | 5,500 |
| Amounts Reclassified from Accumulated Other Comprehensive Income | (18,139) | (18,139) | — | (18,139) |
| Net Current Period Other Comprehensive Loss | (12,943) | (12,943) | 304 | (12,639) |
| Balance as of September 30, 2024 | $9,899 | $9,899 | $(266) | $9,633 |
The following table summarizes the reclassifications out of accumulated other comprehensive income for both the Company and the Operating Partnership for the three and nine months ended September 30, 2024 and 2023:
| Amounts Reclassified from Accumulated Other Comprehensive Income | |||||
|---|---|---|---|---|---|
| Details about Accumulated Other Comprehensive Income Components | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 | Nine Months Ended September 30, 2024 | Nine Months Ended September 30, 2023 | Affected Line Items in the Consolidated Statements of Operations |
| Derivative Instruments: | |||||
| Amortization of Previously Settled Derivative Instruments | $103 | $103 | $308 | $308 | Interest Expense |
| Net Settlement Receipts from our Counterparties | (6,162) | (6,003) | (18,447) | (15,376) | Interest Expense |
| Total | $(6,059) | $(5,900) | $(18,139) | $(15,068) | |
The change in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in other comprehensive income and is subsequently reclassified to earnings through interest expense over the life of the derivative or over the life of the debt. In the next 12 months, we expect to amortize approximately $410 into net income by increasing interest expense for derivative instruments we settled in previous periods. Additionally, recurring settlement amounts on the 2021 Swaps, the 2022 Swaps and the 2022 II Swaps (all defined in Note 10) will also be reclassified to net income.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.