Quarterly report pursuant to Section 13 or 15(d)

TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.22.2.2
TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
OPERATING ACTIVITIES    
Net income $ 21,462 $ 4,342
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 26,243 28,150
Amortization of deferred financing costs 759 1,173
Equity in earnings of unconsolidated joint ventures (2,513) (1,769)
Equity-based compensation expense 2,708 3,845
Amortization of debt (premiums) and discounts, net 117 127
Amortization (accretion) of market rent rate adjustments, net 176 (213)
Straight-line rent adjustments 1,337 1,043
Distributions of cumulative earnings from unconsolidated joint ventures 2,474 890
Other non-cash 0 3,638
Changes in other assets and liabilities:    
Other assets (1,377) 2,981
Accounts payable and accrued expenses (32,532) (12,931)
Net cash provided by operating activities 18,854 31,276
INVESTING ACTIVITIES    
Additions to rental property (5,867) (7,357)
Additions to investments in unconsolidated joint ventures 0 (7,000)
Net proceeds from sale of assets 0 8,129
Additions to non-real estate assets (1,924) (414)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 3,353 7,631
Additions to deferred lease costs (588) (3,668)
Other investing activities 1,686 5,396
Net cash provided by (used in) investing activities (3,340) 2,717
FINANCING ACTIVITIES    
Cash dividends paid (19,315) (16,924)
Distributions to noncontrolling interests in Operating Partnership (869) (851)
Proceeds from notes, mortgages and loans 0 0
Repayments of notes, mortgages and loans (1,080) (25,924)
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,146) (1,637)
Additions to deferred financing costs (227) (76)
Proceeds from exercise of options 10 0
Proceeds from common share offering 0 128,655
Payment for other financing activities (287) (287)
Net cash provided by (used in) financing activities (23,914) 82,956
Effect of foreign currency rate changes on cash and cash equivalents (8) (60)
Net increase (decrease) in cash and cash equivalents (8,408) 116,889
Cash and cash equivalents, beginning of period 161,255 84,832
Cash and cash equivalents, end of period $ 152,847 $ 201,721