XML 44 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Operations (Unaudited) (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Revenue        
Base rent $ 41,038 $ 39,553 $ 81,601 $ 79,293
Expense recoveries 7,825 7,463 16,614 15,077
Percentage rent 453 338 905 938
Other 2,970 1,455 6,113 2,687
Total revenue 52,286 48,809 105,233 97,995
Operating expenses        
Property operating expenses 6,138 6,041 13,723 11,990
Provision for credit losses 107 285 310 549
Real estate taxes 5,584 5,433 11,037 11,196
Interest expense and amortization of deferred debt costs 11,486 11,709 22,953 23,426
Depreciation and amortization of deferred leasing costs 10,309 12,472 20,489 28,824
General and administrative 4,023 3,925 8,703 7,329
Acquisition related costs 216 0 379 0
Predevelopment expenses 0 1,233 503 3,582
Total operating expenses 37,863 41,098 78,097 86,896
Operating income 14,423 7,711 27,136 11,099
Change in fair value of derivatives (5) 51 (7) 61
Gain on sale of property 6,069 0 6,069 0
Net Income 20,487 7,762 33,198 11,160
Noncontrolling interest        
(Income) loss attributable to noncontrolling interests (4,433) (1,168) (6,857) 418
Net income attributable to Saul Centers, Inc. 16,054 6,594 26,341 11,578
Preferred stock redemption 0 0 0 (5,228)
Preferred stock dividends (3,207) (3,207) (6,413) (7,571)
Net income (loss) attributable to common stockholders $ 12,847 $ 3,387 $ 19,928 $ (1,221)
Per share net income (loss) attributable to common stockholders        
Basic and diluted (in usd per share) $ 0.62 $ 0.17 $ 0.96 $ (0.06)
Dividends declared per common share outstanding (in usd per share) $ 0.4 $ 0.36 $ 0.8 $ 0.72