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
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Tanger Factory Outlet Centers, Inc. [Member]    
OPERATING ACTIVITIES    
Net income $ 38,427 $ 178,693
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 95,175 82,078
Amortization of deferred financing costs 2,640 2,350
Gain on sale of assets (6,943) (6,305)
Gain on previously held interest in acquired joint venture 0 (95,516)
Loss on early extinguishment of debt 35,626 0
Equity in (earnings) losses of unconsolidated joint ventures 1,201 (7,680)
Equity-based compensation expense 10,114 11,815
Amortization of debt (premiums) and discounts, net 363 1,160
Amortization (accretion) of market rent rate adjustments, net 2,107 2,087
Straight-line rent adjustments (4,749) (5,092)
Distributions of cumulative earnings from unconsolidated joint ventures 8,128 10,571
Changes in other assets and liabilities:    
Other assets (1,131) 1,093
Accounts payable and accrued expenses 653 2,512
Net cash provided by operating activities 181,611 177,766
INVESTING ACTIVITIES    
Additions to rental property (132,612) (112,213)
Acquisitions of interests in unconsolidated joint ventures, net of cash acquired 0 (45,219)
Additions to investments in unconsolidated joint ventures (4,033) (27,851)
Net proceeds on sale of assets 39,213 28,706
Change in restricted cash 0 118,370
Additions to non-real estate assets (8,384) (8,982)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 16,019 14,193
Additions to deferred lease costs (4,218) (5,273)
Other investing activities 4,963 (1,221)
Net cash used in investing activities (89,052) (39,490)
FINANCING ACTIVITIES    
Cash dividends paid (97,781) (109,879)
Distributions to noncontrolling interests in Operating Partnership (5,078) (5,786)
Proceeds from revolving credit facility 543,866 733,450
Repayments of revolving credit facility (456,666) (727,750)
Proceeds from notes, mortgages and loans 299,460 338,270
Repayments of notes, mortgages and loans (302,240) (329,603)
Payment of make-whole premium related to early extinguishment of debt (34,143) 0
Repayment of deferred financing obligation 0 (28,388)
Repurchase of common shares, including transaction costs (49,362) 0
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,436) (2,164)
Additions to deferred financing costs (2,900) (4,243)
Proceeds from exercise of options 54 1,693
Proceeds from other financing activities 12,054 35
Payment for other financing activities (782) (99)
Net cash used in financing activities (95,954) (134,464)
Effect of foreign currency rate changes on cash and cash equivalents (54) 532
Net increase (decrease) in cash and cash equivalents (3,449) 4,344
Cash and cash equivalents, beginning of period 12,222 21,558
Cash and cash equivalents, end of period 8,773 25,902
Tanger Properties Limited Partnership [Member]    
OPERATING ACTIVITIES    
Net income 38,427 178,693
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 95,175 82,078
Amortization of deferred financing costs 2,640 2,350
Gain on sale of assets (6,943) (6,305)
Gain on previously held interest in acquired joint venture 0 (95,516)
Loss on early extinguishment of debt 35,626 0
Equity in (earnings) losses of unconsolidated joint ventures 1,201 (7,680)
Equity-based compensation expense 10,114 11,815
Amortization of debt (premiums) and discounts, net 363 1,160
Amortization (accretion) of market rent rate adjustments, net 2,107 2,087
Straight-line rent adjustments (4,749) (5,092)
Distributions of cumulative earnings from unconsolidated joint ventures 8,128 10,571
Changes in other assets and liabilities:    
Other assets (1,110) 780
Accounts payable and accrued expenses 551 2,782
Net cash provided by operating activities 181,530 177,723
INVESTING ACTIVITIES    
Additions to rental property (132,612) (112,213)
Acquisitions of interests in unconsolidated joint ventures, net of cash acquired 0 (45,219)
Additions to investments in unconsolidated joint ventures (4,033) (27,851)
Net proceeds on sale of assets 39,213 28,706
Change in restricted cash 0 118,370
Additions to non-real estate assets (8,384) (8,982)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 16,019 14,193
Additions to deferred lease costs (4,218) (5,273)
Other investing activities 4,963 (1,221)
Net cash used in investing activities (89,052) (39,490)
FINANCING ACTIVITIES    
Cash dividends paid (102,859) (115,665)
Proceeds from revolving credit facility 543,866 733,450
Repayments of revolving credit facility (456,666) (727,750)
Proceeds from notes, mortgages and loans 299,460 338,270
Repayments of notes, mortgages and loans (302,240) (329,603)
Payment of make-whole premium related to early extinguishment of debt (34,143) 0
Repayment of deferred financing obligation 0 (28,388)
Repurchase of common shares, including transaction costs (49,362) 0
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,436) (2,164)
Additions to deferred financing costs (2,900) (4,243)
Proceeds from exercise of options 54 1,693
Proceeds from other financing activities 12,054 35
Payment for other financing activities (782) (99)
Net cash used in financing activities (95,954) (134,464)
Effect of foreign currency rate changes on cash and cash equivalents (54) 532
Net increase (decrease) in cash and cash equivalents (3,530) 4,301
Cash and cash equivalents, beginning of period 12,199 21,552
Cash and cash equivalents, end of period $ 8,669 $ 25,853