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, 2020
Jun. 30, 2019
Tanger Factory Outlet Centers, Inc. [Member]    
OPERATING ACTIVITIES    
Net income (loss) $ (52,009) $ 80,298
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 58,063 62,906
Impairment charge 45,675 0
Amortization of deferred financing costs 1,590 1,497
Gain on sale of assets 0 (43,422)
Equity in (earnings) losses of unconsolidated joint ventures 1,448 (3,275)
Equity-based compensation expense 7,219 10,799
Amortization of debt (premiums) and discounts, net 237 220
Amortization (accretion) of market rent rate adjustments, net 411 753
Straight-line rent adjustments 677 (4,886)
Distributions of cumulative earnings from unconsolidated joint ventures 2,092 3,154
Other non-cash 0 3,638
Changes in other assets and liabilities:    
Other assets (35,587) (577)
Accounts payable and accrued expenses (15,572) (18,384)
Net cash provided by operating activities 14,244 92,721
INVESTING ACTIVITIES    
Additions to rental property (16,476) (22,402)
Additions to investments in unconsolidated joint ventures (5,601) (1,695)
Net proceeds from sale of assets 0 128,248
Additions to non-real estate assets (1,191) (480)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 3,093 12,303
Additions to deferred lease costs (1,655) (4,119)
Other investing activities 5,009 4,476
Net cash provided by (used) in investing activities (16,821) 116,331
FINANCING ACTIVITIES    
Cash dividends paid (66,563) (66,368)
Distributions to noncontrolling interests in Operating Partnership (3,499) (3,496)
Proceeds from revolving credit facility 634,030 207,500
Repayments of revolving credit facility (234,200) (334,100)
Repayments of notes, mortgages and loans (1,758) (1,661)
Repurchase of common shares, including transaction costs 0 (10,000)
Employee income taxes paid related to shares withheld upon vesting of equity awards (736) (1,781)
Additions to deferred financing costs (1,797) (65)
Proceeds from other financing activities 72 36
Payment for other financing activities (835) (805)
Net cash provided by (used) in financing activities 324,714 (210,740)
Effect of foreign currency rate changes on cash and cash equivalents (203) (16)
Net increase (decrease) in cash and cash equivalents 321,934 (1,704)
Cash and cash equivalents, beginning of period 16,672 9,083
Cash and cash equivalents, end of period 338,606 7,379
Tanger Properties Limited Partnership [Member]    
OPERATING ACTIVITIES    
Net income (loss) (52,009) 80,298
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 58,063 62,906
Impairment charge 45,675 0
Amortization of deferred financing costs 1,590 1,497
Gain on sale of assets 0 (43,422)
Equity in (earnings) losses of unconsolidated joint ventures 1,448 (3,275)
Equity-based compensation expense 7,219 10,799
Amortization of debt (premiums) and discounts, net 237 220
Amortization (accretion) of market rent rate adjustments, net 411 753
Straight-line rent adjustments 677 (4,886)
Distributions of cumulative earnings from unconsolidated joint ventures 2,092 3,154
Other non-cash 0 3,638
Changes in other assets and liabilities:    
Other assets (35,696) (562)
Accounts payable and accrued expenses (15,490) (18,341)
Net cash provided by operating activities 14,217 92,779
INVESTING ACTIVITIES    
Additions to rental property (16,476) (22,402)
Additions to investments in unconsolidated joint ventures (5,601) (1,695)
Net proceeds from sale of assets 0 128,248
Additions to non-real estate assets (1,191) (480)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 3,093 12,303
Additions to deferred lease costs (1,655) (4,119)
Other investing activities 5,009 4,476
Net cash provided by (used) in investing activities (16,821) 116,331
FINANCING ACTIVITIES    
Cash dividends paid (70,062) (69,864)
Proceeds from revolving credit facility 634,030 207,500
Repayments of revolving credit facility (234,200) (334,100)
Repayments of notes, mortgages and loans (1,758) (1,661)
Repurchase of common shares, including transaction costs 0 (10,000)
Employee income taxes paid related to shares withheld upon vesting of equity awards (736) (1,781)
Additions to deferred financing costs (1,797) (65)
Proceeds from other financing activities 72 36
Payment for other financing activities (835) (805)
Net cash provided by (used) in financing activities 324,714 (210,740)
Effect of foreign currency rate changes on cash and cash equivalents (203) (16)
Net increase (decrease) in cash and cash equivalents 321,907 (1,646)
Cash and cash equivalents, beginning of period 16,519 8,991
Cash and cash equivalents, end of period $ 338,426 $ 7,345