Current report filing

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

v3.23.3
TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
OPERATING ACTIVITIES    
Net income $ 79,037 $ 66,626
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 76,656 77,908
Amortization of deferred financing costs 2,395 2,302
Equity in earnings of unconsolidated joint ventures (6,030) (6,795)
Equity-based compensation expense 9,040 9,965
Amortization of debt (premiums) and discounts, net 537 372
Amortization (accretion) of market rent rate adjustments, net 545 499
Straight-line rent adjustments 1,409 1,190
Distributions of cumulative earnings from unconsolidated joint ventures 6,153 6,794
Other non-cash 0 (2,418)
Changes in other assets and liabilities:    
Other assets 30 (17,597)
Accounts payable and accrued expenses (17,659) (16,105)
Net cash provided by operating activities 152,113 122,741
INVESTING ACTIVITIES    
Additions to rental property (120,070) (45,748)
Additions to investments in unconsolidated joint ventures (2,612) 0
Net proceeds on sale of non-real estate assets 0 14,610
Proceeds from short-term investments 46,979 0
Additions to short-term investments (7,679) 0
Additions to non-real estate assets (7,126) (5,775)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 4,102 8,099
Additions to deferred lease costs (1,960) (1,686)
Payments for other investing activities (2,199) (871)
Proceeds from other investing activities 3,426 0
Net cash used in investing activities (87,139) (31,371)
FINANCING ACTIVITIES    
Cash dividends paid (76,298) (61,194)
Distributions to noncontrolling interests in Operating Partnership (3,369) (2,773)
Proceeds from notes, mortgages and loans 0 0
Repayments of notes, mortgages and loans (3,629) (3,300)
Proceeds from common share offering 2,471 0
Employee income taxes paid related to shares withheld upon vesting of equity awards (6,963) (3,741)
Additions to deferred financing costs 0 1
Proceeds from exercise of options 653 43
Payment for other financing activities (941) (860)
Distributions to noncontrolling interests in other consolidated partnerships (248) 0
Net cash used in financing activities (88,324) (71,824)
Effect of foreign currency rate changes on cash and cash equivalents (315) (93)
Net increase (decrease) in cash and cash equivalents (23,665) 19,453
Cash and cash equivalents, beginning of period 212,124 161,255
Cash and cash equivalents, end of period $ 188,459 $ 180,708