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Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013
Revenue |  |  |  |
Base rent | $ 41,038 | $ 39,553 | $ 81,601 | $ 79,293
Expense recoveries | 7,825 | 7,463 | 16,614 | 15,077
Percentage rent | 453 | 338 | 905 | 938
Other | 2,970 | 1,455 | 6,113 | 2,687
Total revenue | 52,286 | 48,809 | 105,233 | 97,995
Operating expenses |  |  |  |
Property operating expenses | 6,138 | 6,041 | 13,723 | 11,990
Provision for credit losses | 107 | 285 | 310 | 549
Real estate taxes | 5,584 | 5,433 | 11,037 | 11,196
Interest expense and amortization of deferred debt costs | 11,486 | 11,709 | 22,953 | 23,426
Depreciation and amortization of deferred leasing costs | 10,309 | 12,472 | 20,489 | 28,824
General and administrative | 4,023 | 3,925 | 8,703 | 7,329
Acquisition related costs | 216 | 0 | 379 | 0
Predevelopment expenses | 0 | 1,233 | 503 | 3,582
Total operating expenses | 37,863 | 41,098 | 78,097 | 86,896
Operating income | 14,423 | 7,711 | 27,136 | 11,099
Change in fair value of derivatives | (5) | 51 | (7) | 61
Gain on sale of property | 6,069 | 0 | 6,069 | 0
Net Income | 20,487 | 7,762 | 33,198 | 11,160
Noncontrolling interest |  |  |  |
(Income) loss attributable to noncontrolling interests | (4,433) | (1,168) | (6,857) | 418
Net income attributable to Saul Centers, Inc. | 16,054 | 6,594 | 26,341 | 11,578
Preferred stock redemption | 0 | 0 | 0 | (5,228)
Preferred stock dividends | (3,207) | (3,207) | (6,413) | (7,571)
Net income (loss) attributable to common stockholders | $ 12,847 | $ 3,387 | $ 19,928 | $ (1,221)
Per share net income (loss) attributable to common stockholders |  |  |  |
Basic and diluted (in usd per share) | $ 0.62 | $ 0.17 | $ 0.96 | $ (0.06)
Dividends declared per common share outstanding (in usd per share) | $ 0.4 | $ 0.36 | $ 0.8 | $ 0.72

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