TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
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| Revenues: | ||||
| Rental revenues | $ 122,319 | $ 104,588 | $ 240,128 | $ 208,170 |
| Management, leasing and other services | 2,332 | 2,122 | 4,610 | 4,036 |
| Other revenues | 4,305 | 3,931 | 7,589 | 7,378 |
| Total revenues | 128,956 | 110,641 | 252,327 | 219,584 |
| Expenses: | ||||
| Property operating | 37,549 | 33,712 | 73,014 | 66,860 |
| General and administrative | 18,813 | 18,304 | 38,303 | 35,738 |
| Depreciation and amortization | 34,174 | 25,389 | 68,034 | 51,282 |
| Total expenses | 90,536 | 77,405 | 179,351 | 153,880 |
| Other income (expense): | ||||
| Interest expense | (15,700) | (11,966) | (30,053) | (24,309) |
| Other income (expense) | 220 | 2,324 | 807 | 5,124 |
| Total other income (expense) | (15,480) | (9,642) | (29,246) | (19,185) |
| Income before equity in earnings of unconsolidated joint ventures | 22,940 | 23,594 | 43,730 | 46,519 |
| Equity in earnings of unconsolidated joint ventures | 2,975 | 1,706 | 5,491 | 3,641 |
| Net income | 25,915 | 25,300 | 49,221 | 50,160 |
| Noncontrolling interests in Operating Partnership | (1,075) | (1,098) | (2,048) | (2,169) |
| Noncontrolling interests in other consolidated partnerships | 0 | 0 | 80 | (248) |
| Net income attributable to Tanger Inc. | $ 24,840 | $ 24,202 | $ 47,253 | $ 47,743 |
| Basic earnings per common share/unit | ||||
| Net income (in dollars per unit) | $ 0.23 | $ 0.23 | $ 0.43 | $ 0.45 |
| Diluted earnings per common share/unit | ||||
| Net income (in dollars per unit) | $ 0.22 | $ 0.23 | $ 0.43 | $ 0.45 |
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- Definition The net management, leasing and other services revenue received for services provided to unconsolidated joint ventures. No definition available.
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount after tax of income (loss) attributable to redeemable noncontrolling partner in an operating partnership. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax of income (loss) attributable to other nonredeemable noncontrolling equity holder. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition Amount of operating lease income from lease payments and variable lease payments paid and payable to lessor. Includes, but is not limited to, variable lease payments not included in measurement of lease receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue and income classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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