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, 2019
Mar. 31, 2018
Tanger Factory Outlet Centers, Inc. [Member]    
OPERATING ACTIVITIES    
Net income $ 65,841 $ 23,685
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 31,760 33,123
Amortization of deferred financing costs 747 783
Gain on sale of assets (43,422) 0
Equity in earnings of unconsolidated joint ventures (1,629) (2,194)
Equity-based compensation expense 3,818 3,392
Amortization of debt (premiums) and discounts, net 109 101
Amortization (accretion) of market rent rate adjustments, net 480 562
Straight-line rent adjustments (1,970) (1,948)
Distributions of cumulative earnings from unconsolidated joint ventures 1,455 2,198
Changes in other assets and liabilities:    
Other assets 873 1,714
Accounts payable and accrued expenses (24,894) (11,412)
Net cash provided by operating activities 33,168 50,004
INVESTING ACTIVITIES    
Additions to rental property (9,906) (19,714)
Additions to investments in unconsolidated joint ventures (779) (514)
Net proceeds from sale of assets 128,248 0
Additions to non-real estate assets (174) (303)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 8,157 4,494
Additions to deferred lease costs (1,209) (1,014)
Other investing activities 2,936 2,969
Net cash provided by (used) in investing activities 127,273 (14,082)
FINANCING ACTIVITIES    
Cash dividends paid (32,910) (32,389)
Distributions to noncontrolling interests in Operating Partnership (1,735) (1,711)
Proceeds from revolving credit facility 135,200 149,200
Repayments of revolving credit facility (265,300) (129,700)
Repayments of notes, mortgages and loans (825) (9,379)
Repurchase of common shares, including transaction costs 0 (9,998)
Employee income taxes paid related to shares withheld upon vesting of equity awards (1,781) (2,068)
Additions to deferred financing costs (65) (2,606)
Proceeds from other financing activities 18 445
Payment for other financing activities (500) (362)
Net cash used in financing activities (167,898) (38,568)
Effect of foreign currency rate changes on cash and cash equivalents (10) (28)
Net decrease in cash and cash equivalents (7,467) (2,674)
Cash and cash equivalents, beginning of period 9,083 6,101
Cash and cash equivalents, end of period 1,616 3,427
Tanger Properties Limited Partnership [Member]    
OPERATING ACTIVITIES    
Net income 65,841 23,685
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 31,760 33,123
Amortization of deferred financing costs 747 783
Gain on sale of assets (43,422) 0
Equity in earnings of unconsolidated joint ventures (1,629) (2,194)
Equity-based compensation expense 3,818 3,392
Amortization of debt (premiums) and discounts, net 109 101
Amortization (accretion) of market rent rate adjustments, net 480 562
Straight-line rent adjustments (1,970) (1,948)
Distributions of cumulative earnings from unconsolidated joint ventures 1,455 2,198
Changes in other assets and liabilities:    
Other assets 1,001 1,903
Accounts payable and accrued expenses (24,976) (11,639)
Net cash provided by operating activities 33,214 49,966
INVESTING ACTIVITIES    
Additions to rental property (9,906) (19,714)
Additions to investments in unconsolidated joint ventures (779) (514)
Net proceeds from sale of assets 128,248 0
Additions to non-real estate assets (174) (303)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 8,157 4,494
Additions to deferred lease costs (1,209) (1,014)
Other investing activities 2,936 2,969
Net cash provided by (used) in investing activities 127,273 (14,082)
FINANCING ACTIVITIES    
Cash dividends paid (34,645) (34,100)
Proceeds from revolving credit facility 135,200 149,200
Repayments of revolving credit facility (265,300) (129,700)
Repayments of notes, mortgages and loans (825) (9,379)
Repurchase of common shares, including transaction costs 0 (9,998)
Employee income taxes paid related to shares withheld upon vesting of equity awards (1,781) (2,068)
Additions to deferred financing costs (65) (2,606)
Proceeds from other financing activities 18 445
Payment for other financing activities (500) (362)
Net cash used in financing activities (167,898) (38,568)
Effect of foreign currency rate changes on cash and cash equivalents (10) (28)
Net decrease in cash and cash equivalents (7,421) (2,712)
Cash and cash equivalents, beginning of period 8,991 6,050
Cash and cash equivalents, end of period $ 1,570 $ 3,338