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CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2018 | Mar. 31, 2017
Revenues: |  |
Total revenues | $ 19,534,000 | $ 18,472,000
Operating expenses: |  |
Depreciation and amortization | 5,182,000 | 5,553,000
General and administrative (see Note 10 for related party information) | 2,959,000 | 2,815,000
Real estate expenses (see Note 10 for related party information) | 2,667,000 | 2,704,000
Federal excise and state taxes | 73,000 | 88,000
Leasehold rent | 77,000 | 77,000
Total operating expenses | 10,958,000 | 11,237,000
Operating income | 8,576,000 | 7,235,000
Other income and expenses: |  |
Equity in earnings of unconsolidated joint ventures | 195,000 | 245,000
Other income | 4,000 | 22,000
Interest: |  |
Expense | (4,302,000) | (4,389,000)
Amortization and write-off of deferred financing costs | (228,000) | (227,000)
Income before gain on sale of real estate, net | 4,245,000 | 2,886,000
Gain on sale of real estate, net | 2,408,000 |
Net income | 6,653,000 | 2,886,000
Net income attributable to non-controlling interests | (802,000) | (21,000)
Net income attributable to One Liberty Properties, Inc. | $ 5,851,000 | $ 2,865,000
Weighted average number of common shares outstanding: |  |
Basic (in shares) | 18,396 | 17,751
Diluted (in shares) | 18,434 | 17,865
Basic (in dollars per share) | $ 0.30 | $ 0.15
Diluted (in dollars per share) | 0.30 | 0.15
Cash distributions declared per share of common stock | $ 0.45 | $ 0.43
Rental income, net |  |
Revenues: |  |
Revenue | $ 17,590,000 | $ 16,833,000
Tenant reimbursement |  |
Revenues: |  |
Revenue | $ 1,944,000 | $ 1,639,000

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