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CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017
Revenues: |  |  |  |
Total revenues | $ 19,752,000 | $ 18,413,000 | $ 39,286,000 | $ 36,885,000
Operating expenses: |  |  |  |
Depreciation and amortization | 5,250,000 | 5,190,000 | 10,432,000 | 10,743,000
General and administrative (see Note 10 for related party information) | 2,969,000 | 2,893,000 | 5,928,000 | 5,708,000
Real estate expenses (see Note 10 for related party information) | 2,515,000 | 2,371,000 | 5,182,000 | 5,075,000
Federal excise and state taxes | 154,000 | 224,000 | 227,000 | 312,000
Leasehold rent | 77,000 | 77,000 | 154,000 | 154,000
Total operating expenses | 10,965,000 | 10,755,000 | 21,923,000 | 21,992,000
Operating income | 8,787,000 | 7,658,000 | 17,363,000 | 14,893,000
Other income and expenses: |  |  |  |
Equity in earnings of unconsolidated joint ventures | 348,000 | 206,000 | 543,000 | 451,000
Equity in earnings from sale of unconsolidated joint venture property | 71,000 |  | 71,000 |
Other income | 6,000 | 320,000 | 10,000 | 342,000
Interest: |  |  |  |
Expense | (4,445,000) | (4,532,000) | (8,747,000) | (8,921,000)
Amortization and write-off of deferred financing costs | (221,000) | (227,000) | (449,000) | (454,000)
Income before gain on sale of real estate, net | 4,546,000 | 3,425,000 | 8,791,000 | 6,311,000
Gain on sale of real estate, net |  | 6,568,000 | 2,408,000 | 6,568,000
Net income | 4,546,000 | 9,993,000 | 11,199,000 | 12,879,000
Net income attributable to non-controlling interests | (29,000) | (21,000) | (831,000) | (42,000)
Net income attributable to One Liberty Properties, Inc. | $ 4,517,000 | $ 9,972,000 | $ 10,368,000 | $ 12,837,000
Weighted average number of common shares outstanding: |  |  |  |
Basic (in shares) | 18,519 | 17,824 | 18,458 | 17,788
Diluted (in shares) | 18,593 | 17,938 | 18,532 | 17,902
Basic (in dollars per share) | $ 0.23 | $ 0.54 | $ 0.53 | $ 0.69
Diluted (in dollars per share) | 0.23 | 0.54 | 0.53 | 0.69
Cash distributions declared per share of common stock | $ 0.45 | $ 0.43 | $ 0.90 | $ 0.86
Rental income, net |  |  |  |
Revenues: |  |  |  |
Revenue | $ 17,718,000 | $ 16,720,000 | $ 35,308,000 | $ 33,553,000
Tenant reimbursement |  |  |  |
Revenues: |  |  |  |
Revenue | $ 2,034,000 | $ 1,693,000 | $ 3,978,000 | $ 3,332,000

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