XML 14 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Property revenue        
Base rent $ 45,943 $ 45,575 $ 91,810 $ 90,051
Expense recoveries 8,601 8,337 17,373 16,931
Percentage rent 249 519 667 901
Other 1,431 1,466 2,769 6,467
Total property revenue 56,224 55,897 112,619 114,350
Property expenses        
Property operating expenses 6,732 6,473 13,856 13,125
Provision for credit losses 143 207 429 550
Real estate taxes 6,778 6,700 13,622 13,290
Operating income 15,405 14,422 30,350 31,796
Other revenue 69 10 170 23
Other expenses        
Interest expense and amortization of deferred debt costs 11,237 11,900 22,764 23,764
Depreciation and amortization of deferred leasing costs 11,351 11,691 22,700 23,033
General and administrative 4,647 4,514 9,068 8,815
Change in fair value of derivatives (12) (1) (12) (1)
Gain on sale of property 509 0 509 0
Net income (loss) 15,902 14,421 30,847 31,795
Noncontrolling interests        
Income attributable to noncontrolling interests (3,359) (2,911) (5,718) (6,581)
Net income attributable to Saul Centers, Inc. 12,543 11,510 25,129 25,214
Extinguishment of issuance costs upon redemption of preferred shares 0 0 (2,328) 0
Preferred stock dividends (2,953) (3,094) (6,356) (6,188)
Net income available to common stockholders $ 9,590 $ 8,416 $ 16,445 $ 19,026
Per share net income available to common stockholders        
Basic and diluted (in usd per share) $ 0.43 $ 0.38 $ 0.74 $ 0.87
Dividends declared per common share outstanding (in usd per share) $ 0.52 $ 0.51 $ 1.04 $ 1.02
Property expenses        
Property expenses        
Operating expenses $ 13,653 $ 13,380 $ 27,907 $ 26,965
Operating income 42,571 42,517 84,712 87,385
Other expenses        
Property expenses        
Operating expenses $ 27,235 $ 28,105 $ 54,532 $ 55,612