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, 2019
Sep. 30, 2018
Adjustments to reconcile net income to net cash provided by operating activities:    
Gain on sale of assets $ (43,422)  
INVESTING ACTIVITIES    
Net proceeds from sale of assets 128,505  
Tanger Factory Outlet Centers, Inc. [Member]    
OPERATING ACTIVITIES    
Net income 105,107 $ 24,944
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 93,009 98,667
Impairment charge 0 49,739
Amortization of deferred financing costs 2,246 2,280
Gain on sale of assets (43,422) 0
Equity in earnings of unconsolidated joint ventures (5,604) (6,233)
Equity-based compensation expense 14,371 10,814
Amortization of debt (premiums) and discounts, net 333 309
Amortization (accretion) of market rent rate adjustments, net 1,067 1,980
Straight-line rent adjustments (6,938) (4,744)
Distributions of cumulative earnings from unconsolidated joint ventures 5,305 6,081
Other non-cash 3,638 0
Changes in other assets and liabilities:    
Other assets (338) (406)
Accounts payable and accrued expenses (9,805) (3,471)
Net cash provided by operating activities 158,969 179,960
INVESTING ACTIVITIES    
Additions to rental property (35,208) (53,349)
Additions to investments in unconsolidated joint ventures (2,074) (1,764)
Net proceeds from sale of assets 128,505 0
Additions to non-real estate assets (819) (1,203)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 14,541 16,656
Additions to deferred lease costs (5,207) (5,220)
Other investing activities 8,205 8,065
Net cash provided by (used) in investing activities 107,943 (36,815)
FINANCING ACTIVITIES    
Cash dividends paid (99,631) (98,341)
Distributions to noncontrolling interests in Operating Partnership (5,257) (5,207)
Proceeds from revolving credit facility 275,400 391,900
Repayments of revolving credit facility (416,400) (396,900)
Repayments of notes, mortgages and loans (2,509) (10,971)
Repurchase of common shares, including transaction costs (20,000) (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 47 445
Payment for other financing activities (1,103) (1,027)
Net cash used in financing activities (271,299) (144,782)
Effect of foreign currency rate changes on cash and cash equivalents (32) (60)
Net decrease in cash and cash equivalents (4,419) (1,697)
Cash and cash equivalents, beginning of period 9,083 6,101
Cash and cash equivalents, end of period 4,664 4,404
Tanger Properties Limited Partnership [Member]    
OPERATING ACTIVITIES    
Net income 105,107 24,944
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 93,009 98,667
Impairment charge 0 49,739
Amortization of deferred financing costs 2,246 2,280
Gain on sale of assets (43,422) 0
Equity in earnings of unconsolidated joint ventures (5,604) (6,233)
Equity-based compensation expense 14,371 10,814
Amortization of debt (premiums) and discounts, net 333 309
Amortization (accretion) of market rent rate adjustments, net 1,067 1,980
Straight-line rent adjustments (6,938) (4,744)
Distributions of cumulative earnings from unconsolidated joint ventures 5,305 6,081
Other non-cash 3,638 0
Changes in other assets and liabilities:    
Other assets (353) (429)
Accounts payable and accrued expenses (9,788) (3,440)
Net cash provided by operating activities 158,971 179,968
INVESTING ACTIVITIES    
Additions to rental property (35,208) (53,349)
Additions to investments in unconsolidated joint ventures (2,074) (1,764)
Net proceeds from sale of assets 128,505 0
Additions to non-real estate assets (819) (1,203)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 14,541 16,656
Additions to deferred lease costs (5,207) (5,220)
Other investing activities 8,205 8,065
Net cash provided by (used) in investing activities 107,943 (36,815)
FINANCING ACTIVITIES    
Cash dividends paid (104,888) (103,548)
Proceeds from revolving credit facility 275,400 391,900
Repayments of revolving credit facility (416,400) (396,900)
Repayments of notes, mortgages and loans (2,509) (10,971)
Repurchase of common shares, including transaction costs (20,000) (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 47 445
Payment for other financing activities (1,103) (1,027)
Net cash used in financing activities (271,299) (144,782)
Effect of foreign currency rate changes on cash and cash equivalents (32) (60)
Net decrease in cash and cash equivalents (4,417) (1,689)
Cash and cash equivalents, beginning of period 8,991 6,050
Cash and cash equivalents, end of period $ 4,574 $ 4,361