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v3.7.0.1

Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014
Revenue |  |  |
Base rent | $ 172,381 | $ 168,303 | $ 164,599
Expense recoveries | 34,269 | 32,911 | 32,132
Percentage rent | 1,379 | 1,608 | 1,492
Other | 9,041 | 6,255 | 8,869
Total revenue | 217,070 | 209,077 | 207,092
Operating expenses |  |  |
Property operating expenses | 27,527 | 26,565 | 26,479
Provision for credit losses | 1,494 | 915 | 680
Real estate taxes | 24,680 | 23,663 | 22,354
Interest expense and amortization of deferred debt costs | 45,683 | 45,165 | 46,034
Depreciation and amortization of deferred leasing costs | 44,417 | 43,270 | 41,203
General and administrative | 17,496 | 16,353 | 16,961
Acquisition related costs | 60 | 84 | 949
Predevelopment expenses | 0 | 132 | 503
Total operating expenses | 161,357 | 156,147 | 155,163
Operating income | 55,713 | 52,930 | 51,929
Change in fair value of derivatives | (6) | (10) | (10)
Gains on sales of properties | 1,013 | 11 | 6,069
Net income (loss) | 56,720 | 52,931 | 57,988
Income attributable to noncontrolling interests | (11,441) | (10,463) | (11,045)
Net income attributable to Saul Centers, Inc. | 45,279 | 42,468 | 46,943
Preferred stock redemption | 0 | 0 | (1,480)
Preferred dividends | (12,375) | (12,375) | (13,361)
Net income available to common stockholders | $ 32,904 | $ 30,093 | $ 32,102
Per share net income available to common stockholders |  |  |
Basic (in usd per share) | $ 1.53 | $ 1.42 | $ 1.55
Diluted (in usd per share) | $ 1.52 | $ 1.42 | $ 1.54

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