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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenue        
Base rent $ 42,580 $ 41,876 $ 85,187 $ 83,355
Expense recoveries 7,892 7,797 17,450 16,529
Percentage rent 596 558 959 996
Other 1,642 1,480 6,040 2,919
Total revenue 52,710 51,711 109,636 103,799
Operating expenses        
Property operating expenses 6,060 6,196 14,055 13,812
Provision for credit losses 384 414 816 660
Real estate taxes 6,137 5,876 12,071 11,777
Interest expense and amortization of deferred debt costs 11,655 11,353 22,744 22,759
Depreciation and amortization of deferred leasing costs 10,817 10,811 21,852 21,251
General and administrative 4,407 4,139 8,467 7,910
Acquisition related costs 0 0 0 21
Total operating expenses 39,460 38,789 80,005 78,190
Operating income 13,250 12,922 29,631 25,609
Change in fair value of derivatives (3) 0 (10) (6)
Gain on sale of property 0 11 0 11
Net income (loss) 13,247 12,933 29,621 25,614
Noncontrolling interests        
Income attributable to noncontrolling interests (2,620) (2,537) (6,046) (5,011)
Net income attributable to Saul Centers, Inc. 10,627 10,396 23,575 20,603
Preferred stock dividends (3,094) (3,094) (6,188) (6,188)
Net income attributable to common stockholders $ 7,533 $ 7,302 $ 17,387 $ 14,415
Per share net income attributable to common stockholders        
Basic and diluted (in usd per share) $ 0.35 $ 0.35 $ 0.81 $ 0.68
Dividends declared per common share outstanding (in usd per share) $ 0.47 $ 0.43 $ 0.94 $ 0.86