| Accumulated Other Comprehensive Income (Loss) of the Company |
Accumulated Other Comprehensive Income (Loss) of the Company
The following table presents changes in the balances of each component of accumulated comprehensive income (loss) for the three and nine months ended September 30, 2019 (in thousands):
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Tanger Factory Outlet Centers, Inc. Accumulated Other Comprehensive Income (Loss) |
|
Noncontrolling Interest in Operating Partnership Accumulated Other Comprehensive Income (Loss) |
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|
Foreign Currency |
|
Cash flow hedges |
|
Total |
|
Foreign Currency |
|
Cash flow hedges |
|
Total |
Balance June 30, 2019 |
|
$ |
(25,591 |
) |
|
$ |
176 |
|
|
$ |
(25,415 |
) |
|
$ |
(1,397 |
) |
|
$ |
8 |
|
|
$ |
(1,389 |
) |
Other comprehensive income (loss) before reclassifications |
|
(998 |
) |
|
(447 |
) |
|
(1,445 |
) |
|
(53 |
) |
|
(25 |
) |
|
(78 |
) |
Reclassification out of accumulated other comprehensive income (loss) into other income (expense) for interest expense for cash flow hedges |
|
— |
|
|
(512 |
) |
|
(512 |
) |
|
— |
|
|
(27 |
) |
|
(27 |
) |
Balance September 30, 2019 |
|
$ |
(26,589 |
) |
|
$ |
(783 |
) |
|
$ |
(27,372 |
) |
|
$ |
(1,450 |
) |
|
$ |
(44 |
) |
|
$ |
(1,494 |
) |
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Tanger Factory Outlet Centers, Inc. Accumulated Other Comprehensive Income (Loss) |
|
Noncontrolling Interest in Operating Partnership Accumulated Other Comprehensive Income (Loss) |
|
|
Foreign Currency |
|
Cash flow hedges |
|
Total |
|
Foreign Currency |
|
Cash flow hedges |
|
Total |
Balance December 31, 2018 |
|
$ |
(32,610 |
) |
|
$ |
5,459 |
|
|
$ |
(27,151 |
) |
|
$ |
(1,770 |
) |
|
$ |
290 |
|
|
$ |
(1,480 |
) |
Other comprehensive income (loss) before reclassifications |
|
2,567 |
|
|
(4,296 |
) |
|
(1,729 |
) |
|
136 |
|
|
(230 |
) |
|
(94 |
) |
Reclassification out of accumulated other comprehensive income (loss) into other income (expense) for foreign currency and interest expense for cash flow hedges |
|
3,454 |
|
|
(1,946 |
) |
|
1,508 |
|
|
184 |
|
|
(104 |
) |
|
80 |
|
Balance September 30, 2019 |
|
$ |
(26,589 |
) |
|
$ |
(783 |
) |
|
$ |
(27,372 |
) |
|
$ |
(1,450 |
) |
|
$ |
(44 |
) |
|
$ |
(1,494 |
) |
The following table presents changes in the balances of each component of accumulated comprehensive income (loss) for the three and nine months ended September 30, 2018 (in thousands):
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|
|
Tanger Factory Outlet Centers, Inc. Accumulated Other Comprehensive Income (Loss) |
|
Noncontrolling Interest in Operating Partnership Accumulated Other Comprehensive Income (Loss) |
|
|
Foreign Currency |
|
Cash flow hedges |
|
Total |
|
Foreign Currency |
|
Cash flow hedges |
|
Total |
Balance June 30, 2018 |
|
$ |
(29,198 |
) |
|
$ |
8,476 |
|
|
$ |
(20,722 |
) |
|
$ |
(1,588 |
) |
|
$ |
451 |
|
|
$ |
(1,137 |
) |
Other comprehensive income (loss) before reclassifications |
|
1,823 |
|
|
1,013 |
|
|
2,836 |
|
|
98 |
|
|
54 |
|
|
152 |
|
Reclassification out of accumulated other comprehensive income (loss) into interest expense |
|
— |
|
|
(527 |
) |
|
(527 |
) |
|
— |
|
|
(28 |
) |
|
(28 |
) |
Balance September 30, 2018 |
|
$ |
(27,375 |
) |
|
$ |
8,962 |
|
|
$ |
(18,413 |
) |
|
$ |
(1,490 |
) |
|
$ |
477 |
|
|
$ |
(1,013 |
) |
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|
|
Tanger Factory Outlet Centers, Inc. Accumulated Other Comprehensive Income (Loss) |
|
Noncontrolling Interest in Operating Partnership Accumulated Other Comprehensive Income (Loss) |
|
|
Foreign Currency |
|
Cash flow hedges |
|
Total |
|
Foreign Currency |
|
Cash flow hedges |
|
Total |
Balance December 31, 2017 |
|
$ |
(24,360 |
) |
|
$ |
5,075 |
|
|
$ |
(19,285 |
) |
|
$ |
(1,329 |
) |
|
$ |
269 |
|
|
$ |
(1,060 |
) |
Other comprehensive income (loss) before reclassifications |
|
(3,015 |
) |
|
5,267 |
|
|
2,252 |
|
|
(161 |
) |
|
282 |
|
|
121 |
|
Reclassification out of accumulated other comprehensive income (loss) into interest expense |
|
— |
|
|
(1,380 |
) |
|
(1,380 |
) |
|
— |
|
|
(74 |
) |
|
(74 |
) |
Balance September 30, 2018 |
|
$ |
(27,375 |
) |
|
$ |
8,962 |
|
|
$ |
(18,413 |
) |
|
$ |
(1,490 |
) |
|
$ |
477 |
|
|
$ |
(1,013 |
) |
We expect within the next twelve months to reclassify into earnings as an increase to interest expense approximately $198,000 of the amounts recorded within accumulated other comprehensive income related to the interest rate swap agreements in effect as of September 30, 2019.
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