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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenue        
Base rent $ 41,876 $ 41,038 $ 83,355 $ 81,601
Expense recoveries 7,797 7,825 16,529 16,614
Percentage rent 558 453 996 905
Other 1,480 2,970 2,919 6,113
Total revenue 51,711 52,286 103,799 105,233
Operating expenses        
Property operating expenses 6,196 6,138 13,812 13,723
Provision for credit losses 414 107 660 310
Real estate taxes 5,876 5,584 11,777 11,037
Interest expense and amortization of deferred debt costs 11,353 11,486 22,759 22,953
Depreciation and amortization of deferred leasing costs 10,811 10,309 21,251 20,489
General and administrative 4,139 4,023 7,910 8,703
Acquisition related costs 0 216 21 379
Predevelopment expenses 0 0 0 503
Total operating expenses 38,789 37,863 78,190 78,097
Operating income 12,922 14,423 25,609 27,136
Change in fair value of derivatives 0 (5) (6) (7)
Gain on sale of property 11 6,069 11 6,069
Net Income 12,933 20,487 25,614 33,198
Noncontrolling interests        
Income attributable to noncontrolling interests (2,537) (4,433) (5,011) (6,857)
Net income attributable to Saul Centers, Inc. 10,396 16,054 20,603 26,341
Preferred stock dividends (3,094) (3,207) (6,188) (6,413)
Net income attributable to common stockholders $ 7,302 $ 12,847 $ 14,415 $ 19,928
Per share net income attributable to common stockholders        
Basic and diluted (in usd per share) $ 0.35 $ 0.62 $ 0.68 $ 0.96
Dividends declared per common share outstanding (in usd per share) $ 0.43 $ 0.4 $ 0.86 $ 0.8