Quarterly report pursuant to Section 13 or 15(d)

TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS

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TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
OPERATING ACTIVITIES    
Net income (loss) $ 66,626 $ (4,133)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 77,908 82,826
Amortization of deferred financing costs 2,302 3,170
Loss on early extinguishment of debt 0 47,860
Equity in earnings of unconsolidated joint ventures (6,795) (6,758)
Equity-based compensation expense 9,965 9,602
Amortization of debt (premiums) and discounts, net 372 333
Amortization (accretion) of market rent rate adjustments, net 499 151
Straight-line rent adjustments 1,190 1,137
Distributions of cumulative earnings from unconsolidated joint ventures 6,794 7,068
Other non-cash (2,418) 3,638
Changes in other assets and liabilities:    
Other assets (17,597) 5,908
Accounts payable and accrued expenses (16,105) (6,852)
Net cash provided by operating activities 122,741 143,950
INVESTING ACTIVITIES    
Additions to rental property (45,748) (23,685)
Additions to investments in unconsolidated joint ventures 0 (7,000)
Net proceeds from sale of real estate assets 0 8,129
Net proceeds on sale of non-real estate assets 14,610 0
Additions to non-real estate assets (5,775) (1,664)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 8,099 16,023
Additions to deferred lease costs (1,686) (5,333)
Other investing activities (871) 11,602
Net cash used in investing activities (31,371) (1,928)
FINANCING ACTIVITIES    
Cash dividends paid (61,194) (53,385)
Proceeds from notes, mortgages and loans 0 394,208
Repayments of notes, mortgages and loans (3,300) (552,811)
Payment of make-whole premium related to early extinguishment of debt 0 (44,872)
Employee income taxes paid related to shares withheld upon vesting of equity awards (3,741) (1,787)
Additions to deferred financing costs 1 (8,703)
Proceeds from exercise of options 43 188
Proceeds from common share offering 0 186,969
Payment for other financing activities (860) (861)
Net cash used in financing activities (71,824) (83,607)
Effect of foreign currency rate changes on cash and cash equivalents (93) (131)
Net increase in cash and cash equivalents 19,453 58,284
Cash and cash equivalents, beginning of period 161,255 84,832
Cash and cash equivalents, end of period 180,708 143,116
Tanger Properties Limited Partnership    
OPERATING ACTIVITIES    
Net income (loss) 66,626 (4,133)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 77,908 82,826
Amortization of deferred financing costs 2,302 3,170
Loss on early extinguishment of debt 0 47,860
Equity in earnings of unconsolidated joint ventures (6,795) (6,758)
Equity-based compensation expense 9,965 9,602
Amortization of debt (premiums) and discounts, net 372 333
Amortization (accretion) of market rent rate adjustments, net 499 151
Straight-line rent adjustments 1,190 1,137
Distributions of cumulative earnings from unconsolidated joint ventures 6,794 7,068
Other non-cash (2,418) 3,638
Changes in other assets and liabilities:    
Other assets (17,737) 5,506
Accounts payable and accrued expenses (16,020) (6,671)
Net cash provided by operating activities 122,686 143,729
INVESTING ACTIVITIES    
Additions to rental property (45,748) (23,685)
Additions to investments in unconsolidated joint ventures 0 (7,000)
Net proceeds from sale of real estate assets 0 8,129
Net proceeds on sale of non-real estate assets 14,610 0
Additions to non-real estate assets (5,775) (1,664)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 8,099 16,023
Additions to deferred lease costs (1,686) (5,333)
Other investing activities (871) 11,602
Net cash used in investing activities (31,371) (1,928)
FINANCING ACTIVITIES    
Cash dividends paid (63,967) (55,938)
Proceeds from notes, mortgages and loans 0 394,208
Repayments of notes, mortgages and loans (3,300) (552,811)
Payment of make-whole premium related to early extinguishment of debt 0 (44,872)
Employee income taxes paid related to shares withheld upon vesting of equity awards (3,741) (1,787)
Additions to deferred financing costs 1 (8,703)
Proceeds from exercise of options 43 188
Proceeds from common share offering 0 186,969
Payment for other financing activities (860) (861)
Net cash used in financing activities (71,824) (83,607)
Effect of foreign currency rate changes on cash and cash equivalents (93) (131)
Net increase in cash and cash equivalents 19,398 58,063
Cash and cash equivalents, beginning of period 161,152 84,750
Cash and cash equivalents, end of period $ 180,550 $ 142,813