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Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified | 3 Months Ended
--- | ---
Mar. 31, 2014 | Mar. 31, 2013
Revenue |  |
Base rent | $ 40,563 | $ 39,740
Expense recoveries | 8,789 | 7,614
Percentage rent | 452 | 600
Other | 3,143 | 1,232
Total revenue | 52,947 | 49,186
Operating expenses |  |
Property operating expenses | 7,585 | 5,949
Provision for credit losses | 203 | 264
Real estate taxes | 5,453 | 5,763
Interest expense and amortization of deferred debt costs | 11,467 | 11,717
Depreciation and amortization of deferred leasing costs | 10,180 | 16,352
General and administrative | 4,680 | 3,404
Acquisition related costs | 163 | 0
Predevelopment expenses | 503 | 2,349
Total operating expenses | 40,234 | 45,798
Operating income | 12,713 | 3,388
Change in fair value of derivatives | (2) | 10
Net Income | 12,711 | 3,398
Noncontrolling interest |  |
(Income) loss attributable to noncontrolling interests | (2,424) | 1,586
Net income attributable to Saul Centers, Inc. | 10,287 | 4,984
Preferred stock redemption | 0 | (5,228)
Preferred stock dividends | (3,206) | (4,364)
Net income (loss) attributable to common stockholders | $ 7,081 | $ (4,608)
Per share net income (loss) attributable to common stockholders |  |
Basic and diluted (in usd per share) | $ 0.34 | $ (0.23)
Dividends declared per common share outstanding (in usd per share) | $ 0.40 | $ 0.36

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