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v3.5.0.2

Consolidated Statements of Operations - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015
Revenue |  |  |  |
Base rent | $ 43,151 | $ 42,431 | $ 128,338 | $ 125,786
Expense recoveries | 8,561 | 8,181 | 26,011 | 24,710
Percentage rent | 57 | 157 | 1,016 | 1,153
Other | 1,464 | 1,607 | 7,504 | 4,526
Total revenue | 53,233 | 52,376 | 162,869 | 156,175
Operating expenses |  |  |  |
Property operating expenses | 6,685 | 6,308 | 20,740 | 20,120
Provision for credit losses | 391 | 621 | 1,207 | 1,281
Real estate taxes | 6,195 | 5,933 | 18,266 | 17,710
Interest expense and amortization of deferred debt costs | 11,524 | 11,229 | 34,268 | 33,988
Depreciation and amortization of deferred leasing costs | 11,626 | 11,131 | 33,478 | 32,382
General and administrative | 4,033 | 3,802 | 12,500 | 11,712
Acquisition related costs | 57 | 57 | 57 | 78
Predevelopment expenses | 0 | 57 | 0 | 57
Total operating expenses | 40,511 | 39,138 | 120,516 | 117,328
Operating income | 12,722 | 13,238 | 42,353 | 38,847
Change in fair value of derivatives | 1 | (6) | (9) | (12)
Gain on sale of property | 0 | 0 | 0 | 11
Net income (loss) | 12,723 | 13,232 | 42,344 | 38,846
Noncontrolling interests |  |  |  |
Income attributable to noncontrolling interests | (2,484) | (2,617) | (8,530) | (7,628)
Net income attributable to Saul Centers, Inc. | 10,239 | 10,615 | 33,814 | 31,218
Preferred stock dividends | (3,093) | (3,093) | (9,281) | (9,281)
Net income attributable to common stockholders | $ 7,146 | $ 7,522 | $ 24,533 | $ 21,937
Per share net income attributable to common stockholders |  |  |  |
Basic and diluted (in usd per share) | $ 0.33 | $ 0.36 | $ 1.14 | $ 1.04
Dividends declared per common share outstanding (in usd per share) | $ 0.47 | $ 0.43 | $ 1.41 | $ 1.29

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