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 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
Management, leasing and other services $ 630 $ 609 $ 1,243 $ 1,188
Tanger Factory Outlet Centers, Inc. [Member]        
Revenues:        
Base rentals 80,925 80,788 162,458 161,118
Percentage rentals 2,027 1,805 3,456 3,660
Expense reimbursements 34,128 34,023 72,408 70,621
Management, leasing and other services 630 609 1,243 1,188
Other income 2,001 2,389 3,681 4,395
Total revenues 119,711 119,614 243,246 240,982
Expenses:        
Property operating 37,946 37,116 80,164 77,503
General and administrative 10,997 11,500 22,109 22,912
Abandoned pre-development costs 0 0 0 627
Depreciation and amortization 32,694 32,905 65,817 64,199
Total expenses 81,637 81,521 168,090 165,241
Operating income 38,074 38,093 75,156 75,741
Other income (expense):        
Interest expense (16,181) (16,520) (31,981) (33,007)
Gain on sale of assets 0 6,943 0 6,943
Other non-operating income (expense) 191 57 400 92
Income before equity in earnings of unconsolidated joint ventures 22,084 28,573 43,575 49,769
Equity in earnings of unconsolidated joint ventures 2,206 2,374 4,400 4,692
Net income 24,290 30,947 47,975 54,461
Noncontrolling interests in Operating Partnership (1,229) (1,557) (2,446) (2,735)
Noncontrolling interests in other consolidated partnerships (92) 0 278 0
Net income attributable to Tanger Factory Outlet Centers, Inc. $ 22,969 $ 29,390 $ 45,807 $ 51,726
Basic earnings per common share/unit        
Net income (in dollars per share) $ 0.24 $ 0.31 $ 0.48 $ 0.54
Diluted earnings per common share/unit        
Net income (in dollars per share) 0.24 0.31 0.48 0.54
Dividends declared per common share (in dollars per share) $ 0.3500 $ 0.3425 $ 0.6925 $ 0.6675
Tanger Properties Limited Partnership [Member]        
Revenues:        
Base rentals $ 80,925 $ 80,788 $ 162,458 $ 161,118
Percentage rentals 2,027 1,805 3,456 3,660
Expense reimbursements 34,128 34,023 72,408 70,621
Management, leasing and other services 630 609 1,243 1,188
Other income 2,001 2,389 3,681 4,395
Total revenues 119,711 119,614 243,246 240,982
Expenses:        
Property operating 37,946 37,116 80,164 77,503
General and administrative 10,997 11,500 22,109 22,912
Abandoned pre-development costs 0 0 0 627
Depreciation and amortization 32,694 32,905 65,817 64,199
Total expenses 81,637 81,521 168,090 165,241
Operating income 38,074 38,093 75,156 75,741
Other income (expense):        
Interest expense (16,181) (16,520) (31,981) (33,007)
Gain on sale of assets 0 6,943 0 6,943
Other non-operating income (expense) 191 57 400 92
Income before equity in earnings of unconsolidated joint ventures 22,084 28,573 43,575 49,769
Equity in earnings of unconsolidated joint ventures 2,206 2,374 4,400 4,692
Net income 24,290 30,947 47,975 54,461
Noncontrolling interests in consolidated partnerships (92) 0 278 0
Net income attributable to Tanger Factory Outlet Centers, Inc. 24,198 30,947 48,253 54,461
Net income available to limited partners 23,954 30,641 47,768 53,922
Net income available to general partner $ 244 $ 306 $ 485 $ 539
Basic earnings per common share/unit        
Net income (in dollars per share) $ 0.24 $ 0.31 $ 0.48 $ 0.54
Diluted earnings per common share/unit        
Net income (in dollars per share) 0.24 0.31 0.48 0.54
Distribution declared per common unit (in dollars per unit) $ 0.3500 $ 0.3425 $ 0.6925 $ 0.6675