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, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues:        
Management, leasing and other services $ 583 $ 588 $ 1,826 $ 1,776
Tanger Factory Outlet Centers, Inc. [Member]        
Revenues:        
Base rentals 82,323 80,349 244,781 241,467
Percentage rentals 3,210 3,138 6,666 6,798
Expense reimbursements 35,468 34,180 107,876 104,801
Management, leasing and other services 583 588 1,826 1,776
Other income 2,652 2,510 6,333 6,905
Revenues 124,236 120,765 367,482 361,747
Expenses:        
Property operating 39,653 37,571 119,817 115,074
General and administrative 10,752 10,934 32,861 33,846
Abandoned pre-development costs 0 (99) 0 528
Impairment charge 49,739 0 49,739 0
Depreciation and amortization 32,850 30,976 98,667 95,175
Total expenses 132,994 79,382 301,084 244,623
Operating income (loss) (8,758) 41,383 66,398 117,124
Other income (expense):        
Interest expense (16,367) (16,489) (48,348) (49,496)
Loss on early extinguishment of debt 0 (35,626) 0 (35,626)
Gain on sale of assets 0 0 0 6,943
Other non-operating income (expense) 261 591 661 683
Income (loss) before equity in earnings (losses) of unconsolidated joint ventures (24,864) (10,141) 18,711 39,628
Equity in earnings (losses) of unconsolidated joint ventures 1,833 (5,893) 6,233 (1,201)
Net income (loss) (23,031) (16,034) 24,944 38,427
Noncontrolling interests in Operating Partnership 1,172 815 (1,274) (1,920)
Noncontrolling interests in other consolidated partnerships 0 0 278 0
Net income attributable to Tanger Factory Outlet Centers, Inc. $ (21,859) $ (15,219) $ 23,948 $ 36,507
Basic earnings per common share/unit        
Net income (loss) (in dollars per share) $ (0.24) $ (0.17) $ 0.25 $ 0.38
Diluted earnings per common share/unit        
Net income (loss) (in dollars per share) (0.24) (0.17) 0.25 0.38
Dividends declared per common share (in dollars per share) $ 0.3500 $ 0.3425 $ 1.0425 $ 1.01
Tanger Properties Limited Partnership [Member]        
Revenues:        
Base rentals $ 82,323 $ 80,349 $ 244,781 $ 241,467
Percentage rentals 3,210 3,138 6,666 6,798
Expense reimbursements 35,468 34,180 107,876 104,801
Management, leasing and other services 583 588 1,826 1,776
Other income 2,652 2,510 6,333 6,905
Revenues 124,236 120,765 367,482 361,747
Expenses:        
Property operating 39,653 37,571 119,817 115,074
General and administrative 10,752 10,934 32,861 33,846
Abandoned pre-development costs 0 (99) 0 528
Impairment charge 49,739 0 49,739 0
Depreciation and amortization 32,850 30,976 98,667 95,175
Total expenses 132,994 79,382 301,084 244,623
Operating income (loss) (8,758) 41,383 66,398 117,124
Other income (expense):        
Interest expense (16,367) (16,489) (48,348) (49,496)
Loss on early extinguishment of debt 0 (35,626) 0 (35,626)
Gain on sale of assets 0 0 0 6,943
Other non-operating income (expense) 261 591 661 683
Income (loss) before equity in earnings (losses) of unconsolidated joint ventures (24,864) (10,141) 18,711 39,628
Equity in earnings (losses) of unconsolidated joint ventures 1,833 (5,893) 6,233 (1,201)
Net income (loss) (23,031) (16,034) 24,944 38,427
Noncontrolling interests in consolidated partnerships 0 0 278 0
Net income attributable to Tanger Factory Outlet Centers, Inc. (23,031) (16,034) 25,222 38,427
Net income (loss) available to limited partners (22,798) (15,874) 24,970 38,048
Net income (loss) available to general partner $ (233) $ (160) $ 252 $ 379
Basic earnings per common share/unit        
Net income (loss) (in dollars per share) $ (0.24) $ (0.17) $ 0.25 $ 0.38
Diluted earnings per common share/unit        
Net income (loss) (in dollars per share) (0.24) (0.17) 0.25 0.38
Distribution declared per common unit (in dollars per unit) $ 0.3500 $ 0.3425 $ 1.0425 $ 1.01