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The following table sets forth a reconciliation of the numerators and denominators in computing the Company’s earnings per share (in thousands, except per share amounts):
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Three months ended March 31, |
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2022 |
|
2021 |
| Numerator: |
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| Net income attributable to Tanger Factory Outlet Centers, Inc. |
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|
|
|
|
$ |
20,518 |
|
|
$ |
4,133 |
|
| Less allocation of earnings to participating securities |
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|
|
|
|
(215) |
|
|
(207) |
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| Net income available to common shareholders of Tanger Factory Outlet Centers, Inc. |
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|
|
|
$ |
20,303 |
|
|
$ |
3,926 |
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| Denominator: |
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| Basic weighted average common shares |
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|
|
|
|
103,520 |
|
|
94,812 |
|
| Effect of notional units |
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|
|
|
|
802 |
|
|
288 |
|
| Effect of outstanding options |
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|
|
|
|
736 |
|
|
717 |
|
| Diluted weighted average common shares |
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|
|
|
|
105,058 |
|
|
95,817 |
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| Basic earnings per common share: |
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| Net income |
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|
|
$ |
0.20 |
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|
$ |
0.04 |
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| Diluted earnings per common share: |
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| Net income |
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|
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|
$ |
0.19 |
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|
$ |
0.04 |
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The following table sets forth a reconciliation of the numerators and denominators in computing earnings per unit (in thousands, except per unit amounts):
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|
Three months ended March 31, |
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|
|
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|
|
2022 |
|
2021 |
| Numerator: |
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|
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| Net income attributable to partners of the Operating Partnership |
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|
|
|
|
$ |
21,462 |
|
|
$ |
4,342 |
|
| Less allocation of earnings to participating securities |
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|
|
|
|
(215) |
|
|
(207) |
|
| Net income available to common unitholders of the Operating Partnership |
|
|
|
|
|
$ |
21,247 |
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|
$ |
4,135 |
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| Denominator: |
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|
|
|
|
|
|
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| Basic weighted average common units |
|
|
|
|
|
108,282 |
|
|
99,606 |
|
| Effect of notional units |
|
|
|
|
|
802 |
|
|
288 |
|
| Effect of outstanding options |
|
|
|
|
|
736 |
|
|
717 |
|
| Diluted weighted average common units |
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|
|
|
|
109,820 |
|
|
100,611 |
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| Basic earnings per common unit: |
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|
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| Net income |
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|
|
|
|
$ |
0.20 |
|
|
$ |
0.04 |
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| Diluted earnings per common unit: |
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| Net income |
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|
|
|
|
$ |
0.19 |
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|
$ |
0.04 |
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