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, 2018
Mar. 31, 2017
Tanger Factory Outlet Centers, Inc. [Member]    
OPERATING ACTIVITIES    
Net income $ 23,685 $ 23,514
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,123 31,294
Amortization of deferred financing costs 783 878
Equity in earnings of unconsolidated joint ventures (2,194) (2,318)
Equity-based compensation expense 3,392 3,292
Amortization of debt (premiums) and discounts, net 101 125
Amortization (accretion) of market rent rate adjustments, net 562 722
Straight-line rent adjustments (1,948) (1,705)
Distributions of cumulative earnings from unconsolidated joint ventures 2,198 2,473
Changes in other assets and liabilities:    
Other assets 1,714 (909)
Accounts payable and accrued expenses (11,412) (761)
Net cash provided by operating activities 50,004 56,605
INVESTING ACTIVITIES    
Additions to rental property (19,714) (35,527)
Additions to investments in unconsolidated joint ventures (514) (1,371)
Additions to non-real estate assets (303) (6,949)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 4,494 3,313
Additions to deferred lease costs (1,014) (1,430)
Other investing activities 2,969 2,833
Net cash used in investing activities (14,082) (39,131)
FINANCING ACTIVITIES    
Cash dividends paid (32,389) (32,206)
Distributions to noncontrolling interests in Operating Partnership (1,711) (1,634)
Proceeds from revolving credit facility 149,200 128,855
Repayments of revolving credit facility (129,700) (117,500)
Repayments of notes, mortgages and loans (9,379) (736)
Repurchase of common shares, including transaction costs (9,998) 0
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,068) (2,435)
Additions to deferred financing costs (2,606) (50)
Proceeds from exercise of options 0 54
Proceeds from other financing activities 445 3,283
Payment for other financing activities (362) (104)
Net cash used in financing activities (38,568) (22,473)
Effect of foreign currency rate changes on cash and cash equivalents (28) 2
Net decrease in cash and cash equivalents (2,674) (4,997)
Cash and cash equivalents, beginning of period 6,101 12,222
Cash and cash equivalents, end of period 3,427 7,225
Tanger Properties Limited Partnership [Member]    
OPERATING ACTIVITIES    
Net income 23,685 23,514
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,123 31,294
Amortization of deferred financing costs 783 878
Equity in earnings of unconsolidated joint ventures (2,194) (2,318)
Equity-based compensation expense 3,392 3,292
Amortization of debt (premiums) and discounts, net 101 125
Amortization (accretion) of market rent rate adjustments, net 562 722
Straight-line rent adjustments (1,948) (1,705)
Distributions of cumulative earnings from unconsolidated joint ventures 2,198 2,473
Changes in other assets and liabilities:    
Other assets 1,903 (869)
Accounts payable and accrued expenses (11,639) (843)
Net cash provided by operating activities 49,966 56,563
INVESTING ACTIVITIES    
Additions to rental property (19,714) (35,527)
Additions to investments in unconsolidated joint ventures (514) (1,371)
Additions to non-real estate assets (303) (6,949)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 4,494 3,313
Additions to deferred lease costs (1,014) (1,430)
Other investing activities 2,969 2,833
Net cash used in investing activities (14,082) (39,131)
FINANCING ACTIVITIES    
Cash dividends paid (34,100) (33,840)
Proceeds from revolving credit facility 149,200 128,855
Repayments of revolving credit facility (129,700) (117,500)
Repayments of notes, mortgages and loans (9,379) (736)
Repurchase of common shares, including transaction costs (9,998) 0
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,068) (2,435)
Additions to deferred financing costs (2,606) (50)
Proceeds from exercise of options 0 54
Proceeds from other financing activities 445 3,283
Payment for other financing activities (362) (104)
Net cash used in financing activities (38,568) (22,473)
Effect of foreign currency rate changes on cash and cash equivalents (28) 2
Net decrease in cash and cash equivalents (2,712) (5,039)
Cash and cash equivalents, beginning of period 6,050 12,199
Cash and cash equivalents, end of period $ 3,338 $ 7,160