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, 2018
Sep. 30, 2017
Tanger Factory Outlet Centers, Inc. [Member]    
OPERATING ACTIVITIES    
Net income $ 24,944 $ 38,427
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 98,667 95,175
Impairment charge 49,739 0
Amortization of deferred financing costs 2,280 2,640
Gain on sale of assets 0 (6,943)
Loss on early extinguishment of debt 0 35,626
Equity in (earnings) losses of unconsolidated joint ventures (6,233) 1,201
Equity-based compensation expense 10,814 10,114
Amortization of debt (premiums) and discounts, net 309 363
Amortization (accretion) of market rent rate adjustments, net 1,980 2,107
Straight-line rent adjustments (4,744) (4,749)
Distributions of cumulative earnings from unconsolidated joint ventures 6,081 8,128
Changes in other assets and liabilities:    
Other assets (406) (1,131)
Accounts payable and accrued expenses (3,471) 653
Net cash provided by operating activities 179,960 181,611
INVESTING ACTIVITIES    
Additions to rental property (53,349) (132,612)
Additions to investments in unconsolidated joint ventures (1,764) (4,033)
Net proceeds from sale of assets 0 39,213
Additions to non-real estate assets (1,203) (8,384)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 16,656 16,019
Additions to deferred lease costs (5,220) (4,218)
Other investing activities 8,065 4,963
Net cash used in investing activities (36,815) (89,052)
FINANCING ACTIVITIES    
Cash dividends paid (98,341) (97,781)
Distributions to noncontrolling interests in Operating Partnership (5,207) (5,078)
Proceeds from revolving credit facility 391,900 543,866
Repayments of revolving credit facility (396,900) (456,666)
Proceeds from notes, mortgages and loans 0 299,460
Repayments of notes, mortgages and loans (10,971) (302,240)
Payment of make-whole premium related to early extinguishment of debt 0 (34,143)
Repurchase of common shares, including transaction costs (19,998) (49,362)
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,068) (2,436)
Additions to deferred financing costs (2,615) (2,900)
Proceeds from exercise of options 0 54
Proceeds from other financing activities 445 12,054
Payment for other financing activities (1,027) (782)
Net cash used in financing activities (144,782) (95,954)
Effect of foreign currency rate changes on cash and cash equivalents (60) (54)
Net decrease in cash and cash equivalents (1,697) (3,449)
Cash and cash equivalents, beginning of period 6,101 12,222
Cash and cash equivalents, end of period 4,404 8,773
Tanger Properties Limited Partnership [Member]    
OPERATING ACTIVITIES    
Net income 24,944 38,427
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 98,667 95,175
Impairment charge 49,739 0
Amortization of deferred financing costs 2,280 2,640
Gain on sale of assets 0 (6,943)
Loss on early extinguishment of debt 0 35,626
Equity in (earnings) losses of unconsolidated joint ventures (6,233) 1,201
Equity-based compensation expense 10,814 10,114
Amortization of debt (premiums) and discounts, net 309 363
Amortization (accretion) of market rent rate adjustments, net 1,980 2,107
Straight-line rent adjustments (4,744) (4,749)
Distributions of cumulative earnings from unconsolidated joint ventures 6,081 8,128
Changes in other assets and liabilities:    
Other assets (429) (1,110)
Accounts payable and accrued expenses (3,440) 551
Net cash provided by operating activities 179,968 181,530
INVESTING ACTIVITIES    
Additions to rental property (53,349) (132,612)
Additions to investments in unconsolidated joint ventures (1,764) (4,033)
Net proceeds from sale of assets 0 39,213
Additions to non-real estate assets (1,203) (8,384)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 16,656 16,019
Additions to deferred lease costs (5,220) (4,218)
Other investing activities 8,065 4,963
Net cash used in investing activities (36,815) (89,052)
FINANCING ACTIVITIES    
Cash dividends paid (103,548) (102,859)
Proceeds from revolving credit facility 391,900 543,866
Repayments of revolving credit facility (396,900) (456,666)
Proceeds from notes, mortgages and loans 0 299,460
Repayments of notes, mortgages and loans (10,971) (302,240)
Payment of make-whole premium related to early extinguishment of debt 0 (34,143)
Repurchase of common shares, including transaction costs (19,998) (49,362)
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,068) (2,436)
Additions to deferred financing costs (2,615) (2,900)
Proceeds from exercise of options 0 54
Proceeds from other financing activities 445 12,054
Payment for other financing activities (1,027) (782)
Net cash used in financing activities (144,782) (95,954)
Effect of foreign currency rate changes on cash and cash equivalents (60) (54)
Net decrease in cash and cash equivalents (1,689) (3,530)
Cash and cash equivalents, beginning of period 6,050 12,199
Cash and cash equivalents, end of period $ 4,361 $ 8,669