Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 3 Months Ended 12 Months Ended 24 Months Ended
Dec. 31, 2019
Mar. 31, 2019
Dec. 31, 2018
Mar. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2019
Adjustments to reconcile net income to net cash provided by operating activities:                
Impairment charges             $ 0  
Gain on sale of assets         $ (43,422,000)      
Investing Activities                
Net proceeds on sale of assets         128,505,000      
Tanger Factory Outlet Centers, Inc. [Member]                
Operating Activities                
Net income $ (12,379,000) $ 65,841,000 $ 20,619,000 $ 23,685,000 92,728,000 $ 45,563,000 71,876,000  
Adjustments to reconcile net income to net cash provided by operating activities:                
Depreciation and amortization         123,314,000 131,722,000 127,744,000  
Impairment charges         37,610,000 49,739,000 0  
Amortization of deferred financing costs         3,004,000 3,058,000 3,263,000  
Gain on sale of assets         (43,422,000) 0 (6,943,000)  
Loss on early extinguishment of debt         0 0 35,626,000  
Equity in earnings of unconsolidated joint ventures         (7,839,000) (924,000) (1,937,000)  
Equity-based compensation expense         18,120,000 14,669,000 13,585,000  
Amortization of debt (premiums) and discounts, net         448,000 416,000 462,000  
Amortization (accretion) of market rent rate adjustments, net         1,432,000 2,577,000 2,829,000  
Straight-line rent adjustments         (7,721,000) (5,844,000) (5,632,000)  
Distributions of cumulative earnings from unconsolidated joint ventures         7,587,000 7,941,000 10,697,000  
Other non-cash         3,638,000 0 0  
Changes in other asset and liabilities:                
Other assets         (4,159,000) 2,079,000 365,000  
Accounts payable and accrued expenses         (4,288,000) 7,322,000 1,224,000  
Net cash provided by operating activities         220,452,000 258,318,000 253,159,000  
Investing Activities                
Additions to rental property         (47,884,000) (64,253,000) (166,231,000)  
Additions to investments in unconsolidated joint ventures         (2,316,000) (1,916,000) (5,892,000)  
Net proceeds on sale of assets         128,505,000 0 39,213,000  
Distributions in excess of cumulative earnings from unconsolidated joint ventures         17,819,000 25,232,000 25,084,000  
Additions to non-real estate assets         (1,155,000) (1,330,000) (8,909,000)  
Additions to deferred lease costs         (5,142,000) (6,703,000) (6,584,000)  
Other investing activities         9,462,000 8,947,000 5,774,000  
Net cash provided by (used in) investing activities         99,289,000 (40,023,000) (117,545,000)  
Financing Activities                
Cash dividends paid         (132,664,000) (131,244,000) (130,166,000)  
Distributions to noncontrolling interests in Operating Partnership         (7,018,000) (6,955,000) (6,800,000)  
Proceeds from revolving credit facility         282,870,000 491,900,000 719,521,000  
Repayments of revolving credit facility         (427,970,000) (554,900,000) (572,421,000)  
Proceeds from notes, mortgages and loans         0 25,000,000 299,460,000  
Repayments of notes, mortgages and loans         (3,369,000) (11,783,000) (373,258,000)  
Payment of make-whole premium related to early extinguishment of debt         0 0 (34,143,000)  
Repurchase of common shares, including transaction costs         (20,000,000) (19,998,000) (49,361,000)  
Employee income taxes paid related to shares withheld upon vesting of equity awards         (2,524,000) (2,068,000) (2,436,000)  
Additions to deferred financing costs         (115,000) (4,428,000) (2,850,000)  
Proceeds from exercise of options         0 0 54,000  
Proceeds from other financing activities         47,000 626,000 12,054,000  
Payment for other financing activities         (1,390,000) (1,353,000) (1,333,000)  
Net cash provided (used in) by financing activities         (312,133,000) (215,203,000) (141,679,000)  
Effect of foreign currency rate changes on cash and cash equivalents         (19,000) (110,000) (56,000)  
Net increase (decrease) in cash, cash equivalents and restricted cash         7,589,000 2,982,000 (6,121,000)  
Cash and cash equivalents, beginning of year   9,083,000   6,101,000 9,083,000 6,101,000 12,222,000 $ 6,101,000
Cash and cash equivalents, end of year 16,672,000   9,083,000   16,672,000 9,083,000 6,101,000 16,672,000
Tanger Properties Limited Partnership [Member]                
Operating Activities                
Net income         92,728,000 45,563,000 71,876,000  
Adjustments to reconcile net income to net cash provided by operating activities:                
Depreciation and amortization         123,314,000 131,722,000 127,744,000  
Impairment charges         37,610,000 49,739,000 0  
Amortization of deferred financing costs         3,004,000 3,058,000 3,263,000  
Gain on sale of assets         (43,422,000) 0 (6,943,000)  
Loss on early extinguishment of debt         0 0 35,626,000  
Equity in earnings of unconsolidated joint ventures         (7,839,000) (924,000) (1,937,000)  
Equity-based compensation expense         18,120,000 14,669,000 13,585,000  
Amortization of debt (premiums) and discounts, net         448,000 416,000 462,000  
Amortization (accretion) of market rent rate adjustments, net         1,432,000 2,577,000 2,829,000  
Straight-line rent adjustments         (7,721,000) (5,844,000) (5,632,000)  
Distributions of cumulative earnings from unconsolidated joint ventures         7,587,000 7,941,000 10,697,000  
Other non-cash         3,638,000 0 0  
Changes in other asset and liabilities:                
Other assets         (4,185,000) 1,729,000 481,000  
Accounts payable and accrued expenses         (4,323,000) 7,631,000 1,080,000  
Net cash provided by operating activities         220,391,000 258,277,000 253,131,000  
Investing Activities                
Additions to rental property         (47,884,000) (64,253,000) (166,231,000)  
Additions to investments in unconsolidated joint ventures         (2,316,000) (1,916,000) (5,892,000)  
Net proceeds on sale of assets         128,505,000 0 39,213,000  
Distributions in excess of cumulative earnings from unconsolidated joint ventures         17,819,000 25,232,000 25,084,000  
Additions to non-real estate assets         (1,155,000) (1,330,000) (8,909,000)  
Additions to deferred lease costs         (5,142,000) (6,703,000) (6,584,000)  
Other investing activities         9,462,000 8,947,000 5,774,000  
Net cash provided by (used in) investing activities         99,289,000 (40,023,000) (117,545,000)  
Financing Activities                
Cash dividends paid         (139,682,000) (138,199,000) (136,966,000)  
Proceeds from revolving credit facility         282,870,000 491,900,000 719,521,000  
Repayments of revolving credit facility         (427,970,000) (554,900,000) (572,421,000)  
Proceeds from notes, mortgages and loans         0 25,000,000 299,460,000  
Repayments of notes, mortgages and loans         (3,369,000) (11,783,000) (373,258,000)  
Payment of make-whole premium related to early extinguishment of debt         0 0 (34,143,000)  
Repurchase of common shares, including transaction costs         (20,000,000) (19,998,000) (49,361,000)  
Employee income taxes paid related to shares withheld upon vesting of equity awards         (2,524,000) (2,068,000) (2,436,000)  
Additions to deferred financing costs         (115,000) (4,428,000) (2,850,000)  
Proceeds from exercise of options         0 0 54,000  
Proceeds from other financing activities         47,000 626,000 12,054,000  
Payment for other financing activities         (1,390,000) (1,353,000) (1,333,000)  
Net cash provided (used in) by financing activities         (312,133,000) (215,203,000) (141,679,000)  
Effect of foreign currency rate changes on cash and cash equivalents         (19,000) (110,000) (56,000)  
Net increase (decrease) in cash, cash equivalents and restricted cash         7,528,000 2,941,000 (6,149,000)  
Cash and cash equivalents, beginning of year   $ 8,991,000   $ 6,050,000 8,991,000 6,050,000 12,199,000 6,050,000
Cash and cash equivalents, end of year $ 16,519,000   $ 8,991,000   $ 16,519,000 $ 8,991,000 $ 6,050,000 $ 16,519,000