Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Management, leasing and other services $ 588 $ 806 $ 1,776 $ 3,259
Tanger Factory Outlet Centers, Inc. [Member]        
Revenues:        
Base rentals 80,349 79,569 241,467 227,195
Percentage rentals 3,138 2,995 6,798 7,471
Expense reimbursements 34,180 33,125 104,801 97,121
Management, leasing and other services 588 806 1,776 3,259
Other income 2,510 2,642 6,905 6,229
Total revenues 120,765 119,137 361,747 341,275
Expenses:        
Property operating 37,571 37,442 115,074 110,328
General and administrative 10,934 12,128 33,846 35,368
Acquisition costs 0 487 0 487
Abandoned pre-development costs (99) 0 528 0
Depreciation and amortization 30,976 29,205 95,175 82,078
Total expenses 79,382 79,262 244,623 228,261
Operating income 41,383 39,875 117,124 113,014
Other income (expense):        
Interest expense (16,489) (15,516) (49,496) (44,200)
Loss on early extinguishment of debt (35,626) 0 (35,626) 0
Gain on sale of assets 0 1,418 6,943 6,305
Gain on previously held interest in acquired joint venture 0 46,258 0 95,516
Other non-operating income (expense) 591 24 683 378
Income (loss) before equity in earnings (losses) of unconsolidated joint ventures (10,141) 72,059 39,628 171,013
Equity in earnings (losses) of unconsolidated joint ventures (5,893) 715 (1,201) 7,680
Net income (loss) (16,034) 72,774 38,427 178,693
Noncontrolling interests in Operating Partnership 815 (3,668) (1,920) (9,009)
Noncontrolling interests in other consolidated partnerships 0 (2) 0 (13)
Net income attributable to Tanger Factory Outlet Centers, Inc. $ (15,219) $ 69,104 $ 36,507 $ 169,671
Basic earnings per common share/unit        
Net income (in dollars per share) $ (0.17) $ 0.72 $ 0.38 $ 1.77
Diluted earnings per common share/unit        
Net income (in dollars per share) (0.17) 0.72 0.38 1.76
Dividends declared per common share (in dollars per share) $ 0.3425 $ 0.325 $ 1.01 $ 0.935
Tanger Properties Limited Partnership [Member]        
Revenues:        
Base rentals $ 80,349 $ 79,569 $ 241,467 $ 227,195
Percentage rentals 3,138 2,995 6,798 7,471
Expense reimbursements 34,180 33,125 104,801 97,121
Management, leasing and other services 588 806 1,776 3,259
Other income 2,510 2,642 6,905 6,229
Total revenues 120,765 119,137 361,747 341,275
Expenses:        
Property operating 37,571 37,442 115,074 110,328
General and administrative 10,934 12,128 33,846 35,368
Acquisition costs 0 487 0 487
Abandoned pre-development costs (99) 0 528 0
Depreciation and amortization 30,976 29,205 95,175 82,078
Total expenses 79,382 79,262 244,623 228,261
Operating income 41,383 39,875 117,124 113,014
Other income (expense):        
Interest expense (16,489) (15,516) (49,496) (44,200)
Loss on early extinguishment of debt (35,626) 0 (35,626) 0
Gain on sale of assets 0 1,418 6,943 6,305
Gain on previously held interest in acquired joint venture 0 46,258 0 95,516
Other non-operating income (expense) 591 24 683 378
Income (loss) before equity in earnings (losses) of unconsolidated joint ventures (10,141) 72,059 39,628 171,013
Equity in earnings (losses) of unconsolidated joint ventures (5,893) 715 (1,201) 7,680
Net income (loss) (16,034) 72,774 38,427 178,693
Noncontrolling interests in consolidated partnerships 0 (2) 0 (13)
Net income attributable to Tanger Factory Outlet Centers, Inc. (16,034) 72,772 38,427 178,680
Net income (loss) available to limited partners (15,874) 72,052 38,048 176,912
Net income (loss) available to general partner $ (160) $ 720 $ 379 $ 1,768
Basic earnings per common share/unit        
Net income (in dollars per share) $ (0.17) $ 0.72 $ 0.38 $ 1.77
Diluted earnings per common share/unit        
Net income (in dollars per share) (0.17) 0.72 0.38 1.76
Dividends declared per common share (in dollars per share) $ 0.3425 $ 0.325 $ 1.01 $ 0.935