FIRST INDUSTRIAL REALTY TRUST INC
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
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FY2024 · Filed Feb 14, 2025
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, 2024* | Year Ended December 31, 2023* | Year Ended December 31, 2022 | |
|---|---|---|---|
| (In thousands) | |||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net Income | $6,223 | $46,664 | $171,511 |
| Adjustments to Reconcile Net Income to Net Cash Provided By (Used in) Operating Activities: | |||
| Depreciation | 3,562 | — | — |
| Other Amortization | 68 | — | — |
| Gain on Sale of Real Estate | (2,545) | (40,616) | (171,671) |
| Amortization of Debt Issuance Costs | 202 | — | — |
| Straight-line Rental Income | (2,922) | — | — |
| Non-Cash Interest Expense | 3,072 | — | — |
| (Increase) Decrease in Tenant Accounts Receivable, Prepaid Expenses and Other Assets, Net | (403) | 34 | 1 |
| Increase (Decrease) in Accounts Payable, Accrued Expenses, Rents Received in Advance and Due to Related Party | 6,788 | 1,692 | (25) |
| Net Cash Provided By (Used in) Operating Activities | 14,045 | 7,774 | (184) |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Development Expenditures | (48,559) | (116,954) | (15,251) |
| Lease Costs | (4,428) | (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 | (52,987) | (78,924) | 231,502 |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from Construction Loan | 27,249 | 82,751 | 9,037 |
| Debt Issuance Costs | (2) | (3) | (1,380) |
| Contributions from Members | 11,692 | 25,203 | 9,868 |
| Distributions to Members | (6,010) | (15,103) | (239,750) |
| Net Cash Provided by (Used in) Financing Activities | 32,929 | 92,848 | (222,225) |
| Net (Decrease) Increase in Cash and Cash Equivalents | (6,013) | 21,698 | 9,093 |
| Cash and Cash Equivalents, Beginning of Period | 30,876 | 9,178 | 85 |
| Cash and Cash Equivalents, End of Period | $24,863 | $30,876 | $9,178 |
| Supplemental Information to Statements of Cash Flows: | |||
| Interest Expense Capitalized In Connection with Development | $5,079 | $4,537 | $103 |
| Non-Cash Investing and Financing Activities: | |||
| Accrued Expenses Related to Development Expenditures | $22,251 | $27,294 | $19,799 |
| Accrued Expenses Related to Lease Costs | $349 | $1,561 | $— |
| Liabilities Arising from the Sale of Real Estate | $— | $1,410 | $19,715 |
| Interest Expense included in Construction Loan Payable | $8,151 | $3,923 | $— |
| Debt Issuance Cost Amortization Capitalized in Connection with Development | $260 | $461 | $192 |
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