Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Tanger Factory Outlet Centers, Inc [Member]    
OPERATING ACTIVITIES    
Net income $ 23,514 $ 28,617
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 31,294 26,567
Amortization of deferred financing costs 878 744
Gain on sale of assets and interests in unconsolidated entities 0 (4,887)
Equity in earnings of unconsolidated joint ventures (2,318) (3,499)
Share-based compensation expense 3,292 4,001
Amortization of debt (premiums) and discounts, net 125 959
Amortization (accretion) of market rent rate adjustments, net 722 664
Straight-line rent adjustments (1,705) (1,607)
Distributions of cumulative earnings from unconsolidated joint ventures 2,473 2,709
Changes in other assets and liabilities:    
Other assets (909) 732
Accounts payable and accrued expenses (761) (969)
Net cash provided by operating activities 56,605 54,031
INVESTING ACTIVITIES    
Additions to rental property (35,527) (34,896)
Additions to investments in unconsolidated joint ventures (1,371) (12,161)
Net proceeds on sale of assets 0 25,785
Change in restricted cash 0 121,306
Additions to non-real estate assets (6,949) (2,144)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 3,313 4,394
Additions to deferred lease costs (1,430) (1,520)
Other investing activities 2,833 72
Net cash provided by (used in) investing activities (39,131) 100,836
FINANCING ACTIVITIES    
Cash dividends paid (32,206) (47,447)
Distributions to noncontrolling interests in Operating Partnership (1,634) (2,501)
Proceeds from revolving credit facility 128,855 320,450
Repayments of revolving credit facility (117,500) (247,050)
Proceeds from notes, mortgages and loans 0 6,892
Repayments of notes, mortgages and loans (736) (158,196)
Repayment of deferred financing obligation 0 (28,388)
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,435) (1,921)
Distributions to noncontrolling interests in other consolidated partnerships 0 (19)
Additions to deferred financing costs (50) (82)
Proceeds from exercise of options 54 123
Other financing activities 3,179 0
Net cash used in financing activities (22,473) (158,139)
Effect of foreign currency rate changes on cash and cash equivalents 2 591
Net decrease in cash and cash equivalents (4,997) (2,681)
Cash and cash equivalents, beginning of period 12,222 21,558
Cash and cash equivalents, end of period 7,225 18,877
Tanger Properties Limited Partnership [Member]    
OPERATING ACTIVITIES    
Net income 23,514 28,617
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 31,294 26,567
Amortization of deferred financing costs 878 744
Gain on sale of assets and interests in unconsolidated entities 0 (4,887)
Equity in earnings of unconsolidated joint ventures (2,318) (3,499)
Share-based compensation expense 3,292 4,001
Amortization of debt (premiums) and discounts, net 125 959
Amortization (accretion) of market rent rate adjustments, net 722 664
Straight-line rent adjustments (1,705) (1,607)
Distributions of cumulative earnings from unconsolidated joint ventures 2,473 2,709
Changes in other assets and liabilities:    
Other assets (869) 301
Accounts payable and accrued expenses (843) (579)
Net cash provided by operating activities 56,563 53,990
INVESTING ACTIVITIES    
Additions to rental property (35,527) (34,896)
Additions to investments in unconsolidated joint ventures (1,371) (12,161)
Net proceeds on sale of assets 0 25,785
Change in restricted cash 0 121,306
Additions to non-real estate assets (6,949) (2,144)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 3,313 4,394
Additions to deferred lease costs (1,430) (1,520)
Other investing activities 2,833 72
Net cash provided by (used in) investing activities (39,131) 100,836
FINANCING ACTIVITIES    
Cash dividends paid (33,840) (49,948)
Proceeds from revolving credit facility 128,855 320,450
Repayments of revolving credit facility (117,500) (247,050)
Proceeds from notes, mortgages and loans 0 6,892
Repayments of notes, mortgages and loans (736) (158,196)
Repayment of deferred financing obligation 0 (28,388)
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,435) (1,921)
Distributions to noncontrolling interests in other consolidated partnerships 0 (19)
Additions to deferred financing costs (50) (82)
Proceeds from exercise of options 54 123
Other financing activities 3,179 0
Net cash used in financing activities (22,473) (158,139)
Effect of foreign currency rate changes on cash and cash equivalents 2 591
Net decrease in cash and cash equivalents (5,039) (2,722)
Cash and cash equivalents, beginning of period 12,199 21,552
Cash and cash equivalents, end of period $ 7,160 $ 18,830