Current report filing

Accumulated Other Comprehensive Income (Loss) of the Operating Partnership

v3.23.3
Accumulated Other Comprehensive Income (Loss) of the Operating Partnership
 9 Months Ended
Sep. 30, 2023
Statement of Comprehensive Income [Abstract]  
Accumulated Other Comprehensive Income (Loss) of the Operating Partnership Accumulated Other Comprehensive Income (Loss) of the Company
The following table presents changes in the balances of each component of accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2023 and for three and nine months ended September 30, 2022 (in thousands):

Tanger Factory Outlet Centers, Inc. Accumulated Other Comprehensive Income (Loss) Noncontrolling Interest in Operating Partnership Accumulated Other Comprehensive Income (Loss)
Foreign Currency Cash flow hedges Total Foreign Currency Cash flow hedges Total
Balance June 30, 2023 $ (23,187) $ 9,845  $ (13,342) $ (1,291) $ 473  $ (818)
Other comprehensive income before reclassifications (1,688) —  (1,688) (77) —  (77)
Reclassification out of accumulated other comprehensive income (loss) into other income (expense) for foreign currency and interest expense for cash flow hedges —  (1,765) (1,765) —  (80) (80)
Balance September 30, 2023 $ (24,875) $ 8,080  $ (16,795) $ (1,368) $ 393  $ (975)
Tanger Factory Outlet Centers, Inc. Accumulated Other Comprehensive Income (Loss) Noncontrolling Interest in Operating Partnership Accumulated Other Comprehensive Income (Loss)
Foreign Currency Cash flow hedges Total Foreign Currency Cash flow hedges Total
Balance December 31, 2022 $ (24,516) $ 13,479  $ (11,037) $ (1,351) $ 638  $ (713)
Other comprehensive income before reclassifications (359) —  (359) (17) —  (17)
Reclassification out of accumulated other comprehensive income (loss) into other income (expense) for foreign currency and interest expense for cash flow hedges —  (5,399) (5,399) —  (245) (245)
Balance September 30, 2023 $ (24,875) $ 8,080  $ (16,795) $ (1,368) $ 393  $ (975)
Tanger Factory Outlet Centers, Inc. Accumulated Other Comprehensive Income (Loss) Noncontrolling Interest in Operating Partnership Accumulated Other Comprehensive Income (Loss)
Foreign Currency Cash flow hedges Total Foreign Currency Cash flow hedges Total
Balance June 30, 2022 $ (20,875) $ 11,455  $ (9,420) $ (1,137) $ 508  $ (629)
Other comprehensive income (loss) before reclassifications (4,661) 4,054  (607) (214) 186  (28)
Reclassification out of accumulated other comprehensive income (loss) into other income (expense) for foreign currency and interest expense for cash flow hedges —  (1,226) (1,226) —  (56) (56)
Balance September 30, 2022 $ (25,536) $ 14,283  $ (11,253) $ (1,351) $ 638  $ (713)
Tanger Factory Outlet Centers, Inc. Accumulated Other Comprehensive Income (Loss) Noncontrolling Interest in Operating Partnership Accumulated Other Comprehensive Income (Loss)
Foreign Currency Cash flow hedges Total Foreign Currency Cash flow hedges Total
Balance December 31, 2021 $ (19,713) $ 1,952  $ (17,761) $ (1,084) $ 72  $ (1,012)
Other comprehensive income (loss) before reclassifications (5,823) 12,995  7,172  (267) 596  329 
Reclassification out of accumulated other comprehensive income (loss) into other income (expense) for foreign currency and interest expense for cash flow hedges —  (664) (664) —  (30) (30)
Balance September 30, 2022 $ (25,536) $ 14,283  $ (11,253) $ (1,351) $ 638  $ (713)

We expect within the next twelve months to reclassify into earnings as a decrease to interest expense approximately $6.3 million of the amounts recorded within accumulated other comprehensive income related to the interest rate swap agreements in effect as of September 30, 2023.
Accumulated Other Comprehensive Income (Loss) of the Operating Partnership
The following table presents changes in the balances of each component of accumulated other comprehensive income (loss) for the three and nine months ended September 30, 2023 (in thousands):
Foreign Currency Cash flow hedges Accumulated Other Comprehensive Income (Loss)
Balance June 30, 2023 $ (24,478) $ 10,318  $ (14,160)
Other comprehensive income before reclassifications (1,765) —  (1,765)
Reclassification out of accumulated other comprehensive income (loss) into other income (expense) for foreign currency and interest expense for cash flow hedges —  (1,845) (1,845)
Balance September 30, 2023 $ (26,243) $ 8,473  $ (17,770)
Foreign Currency Cash flow hedges Accumulated Other Comprehensive Income (Loss)
Balance December 31, 2022 $ (25,867) $ 14,117  $ (11,750)
Other comprehensive income before reclassifications (376) —  (376)
Reclassification out of accumulated other comprehensive income (loss) into other income (expense) for foreign currency and interest expense for cash flow hedges —  (5,644) (5,644)
Balance September 30, 2023 $ (26,243) $ 8,473  $ (17,770)

The following table presents changes in the balances of each component of accumulated other comprehensive loss for the three and nine months ended September 30, 2022 (in thousands):
Foreign Currency Cash flow hedges Accumulated Other Comprehensive Income (Loss)
Balance June 30, 2022 $ (22,012) $ 11,963  $ (10,049)
Other comprehensive income (loss) before reclassifications (4,875) 4,240  (635)
Reclassification out of accumulated other comprehensive income (loss) into other income (expense) for foreign currency and interest expense for cash flow hedges —  (1,282) (1,282)
Balance September 30, 2022 $ (26,887) $ 14,921  $ (11,966)
Foreign Currency Cash flow hedges Accumulated Other Comprehensive Income (Loss)
Balance December 31, 2021 $ (20,797) $ 2,024  $ (18,773)
Other comprehensive income (loss) before reclassifications (6,090) 13,591  7,501 
Reclassification out of accumulated other comprehensive income (loss) into other income (expense) for foreign currency and interest expense for cash flow hedges —  (694) (694)
Balance September 30, 2022 $ (26,887) $ 14,921  $ (11,966)

We expect within the next twelve months to reclassify into earnings as a decrease to interest expense approximately $6.3 million of the amounts recorded within accumulated other comprehensive income related to the interest rate swap agreements in effect as of September 30, 2023.