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, 2020
Sep. 30, 2019
Tanger Factory Outlet Centers, Inc. [Member]    
OPERATING ACTIVITIES    
Net income (loss) $ (38,290) $ 105,107
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 87,966 93,009
Impairment charge 45,675 0
Amortization of deferred financing costs 2,586 2,246
Gain on sale of assets (2,324) (43,422)
Equity in (earnings) losses of unconsolidated joint ventures 1,490 (5,604)
Equity-based compensation expense 9,566 14,371
Amortization of debt (premiums) and discounts, net 359 333
Amortization (accretion) of market rent rate adjustments, net 2,560 1,067
Straight-line rent adjustments including write offs due to tenant bankruptcies and uncollectible accounts 2,418 (6,938)
Distributions of cumulative earnings from unconsolidated joint ventures 2,309 5,305
Uncollectible rental revenue allowance 26,573 965
Other non-cash 0 3,638
Changes in other assets and liabilities:    
Other assets (49,822) (1,303)
Accounts payable and accrued expenses 895 (9,805)
Net cash provided by operating activities 91,961 158,969
INVESTING ACTIVITIES    
Additions to rental property (23,072) (35,208)
Additions to investments in unconsolidated joint ventures (5,601) (2,074)
Net proceeds from sale of assets 7,626 128,505
Additions to non-real estate assets (1,541) (819)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 4,717 14,541
Additions to deferred lease costs (2,755) (5,207)
Other investing activities 8,339 8,205
Net cash provided by (used in) investing activities (12,287) 107,943
FINANCING ACTIVITIES    
Cash dividends paid (66,563) (99,631)
Distributions to noncontrolling interests in Operating Partnership (3,499) (5,257)
Proceeds from revolving credit facility 641,630 275,400
Repayments of revolving credit facility (641,630) (416,400)
Repayments of notes, mortgages and loans (2,656) (2,509)
Repurchase of common shares, including transaction costs 0 (20,000)
Employee income taxes paid related to shares withheld upon vesting of equity awards (736) (1,781)
Additions to deferred financing costs (1,841) (65)
Proceeds from other financing activities 72 47
Payment for other financing activities (1,122) (1,103)
Net cash used in financing activities (76,345) (271,299)
Effect of foreign currency rate changes on cash and cash equivalents (208) (32)
Net increase (decrease) in cash and cash equivalents 3,121 (4,419)
Cash and cash equivalents, beginning of period 16,672 9,083
Cash and cash equivalents, end of period 19,793 4,664
Tanger Properties Limited Partnership [Member]    
OPERATING ACTIVITIES    
Net income (loss) (38,290) 105,107
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 87,966 93,009
Impairment charge 45,675 0
Amortization of deferred financing costs 2,586 2,246
Gain on sale of assets (2,324) (43,422)
Equity in (earnings) losses of unconsolidated joint ventures 1,490 (5,604)
Equity-based compensation expense 9,566 14,371
Amortization of debt (premiums) and discounts, net 359 333
Amortization (accretion) of market rent rate adjustments, net 2,560 1,067
Straight-line rent adjustments including write offs due to tenant bankruptcies and uncollectible accounts 2,418 (6,938)
Distributions of cumulative earnings from unconsolidated joint ventures 2,309 5,305
Uncollectible rental revenue allowance 26,573 965
Other non-cash 0 3,638
Changes in other assets and liabilities:    
Other assets (49,899) (1,318)
Accounts payable and accrued expenses 1,044 (9,788)
Net cash provided by operating activities 92,033 158,971
INVESTING ACTIVITIES    
Additions to rental property (23,072) (35,208)
Additions to investments in unconsolidated joint ventures (5,601) (2,074)
Net proceeds from sale of assets 7,626 128,505
Additions to non-real estate assets (1,541) (819)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 4,717 14,541
Additions to deferred lease costs (2,755) (5,207)
Other investing activities 8,339 8,205
Net cash provided by (used in) investing activities (12,287) 107,943
FINANCING ACTIVITIES    
Cash dividends paid (70,062) (104,888)
Proceeds from revolving credit facility 641,630 275,400
Repayments of revolving credit facility (641,630) (416,400)
Repayments of notes, mortgages and loans (2,656) (2,509)
Repurchase of common shares, including transaction costs 0 (20,000)
Employee income taxes paid related to shares withheld upon vesting of equity awards (736) (1,781)
Additions to deferred financing costs (1,841) (65)
Proceeds from other financing activities 72 47
Payment for other financing activities (1,122) (1,103)
Net cash used in financing activities (76,345) (271,299)
Effect of foreign currency rate changes on cash and cash equivalents (208) (32)
Net increase (decrease) in cash and cash equivalents 3,193 (4,417)
Cash and cash equivalents, beginning of period 16,519 8,991
Cash and cash equivalents, end of period $ 19,712 $ 4,574