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
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Tanger Factory Outlet Centers, Inc. [Member]    
OPERATING ACTIVITIES    
Net income $ 80,298 $ 47,975
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 62,906 65,817
Amortization of deferred financing costs 1,497 1,532
Gain on sale of assets (43,422) 0
Equity in earnings of unconsolidated joint ventures (3,275) (4,400)
Equity-based compensation expense 10,799 7,045
Amortization of debt (premiums) and discounts, net 220 204
Amortization (accretion) of market rent rate adjustments, net 753 1,251
Straight-line rent adjustments (4,886) (3,294)
Distributions of cumulative earnings from unconsolidated joint ventures 3,154 4,332
Other non-cash 3,638 0
Changes in other assets and liabilities:    
Other assets (577) 3,738
Accounts payable and accrued expenses (18,384) (8,833)
Net cash provided by operating activities 92,721 115,367
INVESTING ACTIVITIES    
Additions to rental property (22,402) (41,212)
Additions to investments in unconsolidated joint ventures (1,695) (1,497)
Net proceeds from sale of assets 128,248 0
Additions to non-real estate assets (480) (1,114)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 12,303 13,911
Additions to deferred lease costs (4,119) (2,821)
Other investing activities 4,476 4,032
Net cash provided by (used) in investing activities 116,331 (28,701)
FINANCING ACTIVITIES    
Cash dividends paid (66,368) (65,448)
Distributions to noncontrolling interests in Operating Partnership (3,496) (3,459)
Proceeds from revolving credit facility 207,500 295,600
Repayments of revolving credit facility (334,100) (280,000)
Repayments of notes, mortgages and loans (1,661) (10,169)
Repurchase of common shares, including transaction costs (10,000) (19,998)
Employee income taxes paid related to shares withheld upon vesting of equity awards (1,781) (2,068)
Additions to deferred financing costs (65) (2,615)
Proceeds from other financing activities 36 445
Payment for other financing activities (805) (741)
Net cash used in financing activities (210,740) (88,453)
Effect of foreign currency rate changes on cash and cash equivalents (16) (53)
Net decrease in cash and cash equivalents (1,704) (1,840)
Cash and cash equivalents, beginning of period 9,083 6,101
Cash and cash equivalents, end of period 7,379 4,261
Tanger Properties Limited Partnership [Member]    
OPERATING ACTIVITIES    
Net income 80,298 47,975
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 62,906 65,817
Amortization of deferred financing costs 1,497 1,532
Gain on sale of assets (43,422) 0
Equity in earnings of unconsolidated joint ventures (3,275) (4,400)
Equity-based compensation expense 10,799 7,045
Amortization of debt (premiums) and discounts, net 220 204
Amortization (accretion) of market rent rate adjustments, net 753 1,251
Straight-line rent adjustments (4,886) (3,294)
Distributions of cumulative earnings from unconsolidated joint ventures 3,154 4,332
Other non-cash 3,638 0
Changes in other assets and liabilities:    
Other assets (562) 3,672
Accounts payable and accrued expenses (18,341) (8,842)
Net cash provided by operating activities 92,779 115,292
INVESTING ACTIVITIES    
Additions to rental property (22,402) (41,212)
Additions to investments in unconsolidated joint ventures (1,695) (1,497)
Net proceeds from sale of assets 128,248 0
Additions to non-real estate assets (480) (1,114)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 12,303 13,911
Additions to deferred lease costs (4,119) (2,821)
Other investing activities 4,476 4,032
Net cash provided by (used) in investing activities 116,331 (28,701)
FINANCING ACTIVITIES    
Cash dividends paid (69,864) (68,907)
Proceeds from revolving credit facility 207,500 295,600
Repayments of revolving credit facility (334,100) (280,000)
Repayments of notes, mortgages and loans (1,661) (10,169)
Repurchase of common shares, including transaction costs (10,000) (19,998)
Employee income taxes paid related to shares withheld upon vesting of equity awards (1,781) (2,068)
Additions to deferred financing costs (65) (2,615)
Proceeds from other financing activities 36 445
Payment for other financing activities (805) (741)
Net cash used in financing activities (210,740) (88,453)
Effect of foreign currency rate changes on cash and cash equivalents (16) (53)
Net decrease in cash and cash equivalents (1,646) (1,915)
Cash and cash equivalents, beginning of period 8,991 6,050
Cash and cash equivalents, end of period $ 7,345 $ 4,135