XML 18 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenue      
Base rent $ 181,141 $ 172,381 $ 168,303
Expense recoveries 35,347 34,269 32,911
Percentage rent 1,458 1,379 1,608
Other 9,339 9,041 6,255
Total revenue 227,285 217,070 209,077
Operating expenses      
Property operating expenses 27,689 27,527 26,565
Provision for credit losses 906 1,494 915
Real estate taxes 26,997 24,680 23,663
Interest expense and amortization of deferred debt costs 47,225 45,683 45,165
Depreciation and amortization of deferred leasing costs 45,694 44,417 43,270
General and administrative 18,176 17,496 16,353
Acquisition related costs 0 60 84
Predevelopment expenses 0 0 132
Total operating expenses 166,687 161,357 156,147
Operating income 60,598 55,713 52,930
Change in fair value of derivatives 70 (6) (10)
Gains on sales of properties 0 1,013 11
Net income (loss) 60,668 56,720 52,931
Income attributable to noncontrolling interests (12,411) (11,441) (10,463)
Net income attributable to Saul Centers, Inc. 48,257 45,279 42,468
Preferred dividends (12,375) (12,375) (12,375)
Net income available to common stockholders $ 35,882 $ 32,904 $ 30,093
Per share net income available to common stockholders      
Basic (in usd per share) $ 1.64 $ 1.53 $ 1.42
Diluted (in usd per share) $ 1.63 $ 1.52 $ 1.42