Quarterly report pursuant to Section 13 or 15(d)

Partners' Equity of the Operating Partnership

v3.10.0.1
Partners' Equity of the Operating Partnership
 6 Months Ended
Jun. 30, 2018
Tanger Properties Limited Partnership [Member]  
Schedule of Partners' Equity of the Operating Partnership [Line Items]  
Partners' Equity of the Operating Partnership
Partners' Equity of the Operating Partnership

All units of partnership interest issued by the Operating Partnership have equal rights with respect to earnings, dividends and net assets. When the Company issues common shares upon the exercise of options, the grant of restricted common share awards, or the exchange of Class A common limited partnership units, the Operating Partnership issues a corresponding Class B common limited partnership unit to Tanger LP Trust, a wholly-owned subsidiary of the Company. Likewise, when the Company repurchases its outstanding common shares, the Operating Partnership repurchases a corresponding Class B common limited partnership unit held by Tanger LP Trust.

The following table sets forth the changes in outstanding partnership units for the six months ended June 30, 2018 and June 30, 2017:
 
 
 
 
Limited Partnership Units
 
 
General Partnership Units
 
Class A
 
Class B
 
Total
Balance December 31, 2016
 
1,000,000

 
5,027,781

 
95,095,891

 
100,123,672

Grant of restricted common share awards by the Company, net of forfeitures
 
—

 
—

 
428,312

 
428,312

Repurchase of units
 
—

 
—

 
(1,497,981
)
 
(1,497,981
)
Units issued upon exercise of options
 
—

 
—

 
1,800

 
1,800

Units withheld for employee income taxes
 
—

 
—

 
(69,886
)
 
(69,886
)
Balance June 30, 2017
 
1,000,000

 
5,027,781

 
93,958,136

 
98,985,917

 
 
 
 
 
 
 
 
 
Balance December 31, 2017
 
1,000,000

 
4,995,433

 
93,560,536

 
98,555,969

Grant of restricted common share awards by the Company, net of forfeitures
 
—

 
—

 
355,184

 
355,184

Repurchase of units
 
—

 
—

 
(919,249
)
 
(919,249
)
Units withheld for employee income taxes
 
—

 
—

 
(89,437
)
 
(89,437
)
Balance June 30, 2018
 
1,000,000

 
4,995,433

 
92,907,034

 
97,902,467