| Schedule of Earnings Per Share, Basic and Diluted |
The following table sets forth a reconciliation of the numerators and denominators in computing the Company’s earnings per share (in thousands, except per share amounts):
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Three months ended June 30, |
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Six months ended June 30, |
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2024 |
|
2023 |
|
2024 |
|
2023 |
| Numerator: |
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| Net income attributable to Tanger Inc. |
|
$ |
24,840 |
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|
$ |
24,202 |
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|
$ |
47,253 |
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|
$ |
47,743 |
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| Less allocation of earnings to participating securities |
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(229) |
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|
(257) |
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|
(460) |
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|
(456) |
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| Net income available to common shareholders of Tanger Inc. |
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$ |
24,611 |
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|
$ |
23,945 |
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|
$ |
46,793 |
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|
$ |
47,287 |
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| Denominator: |
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| Basic weighted average common shares |
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108,683 |
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|
104,367 |
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|
108,526 |
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|
104,228 |
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| Effect of notional units |
|
600 |
|
|
722 |
|
|
582 |
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|
668 |
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| Effect of outstanding options |
|
910 |
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|
773 |
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|
916 |
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|
758 |
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| Diluted weighted average common shares |
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110,193 |
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|
105,862 |
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|
110,024 |
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|
105,654 |
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| Basic earnings per common share: |
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| Net income |
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$ |
0.23 |
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$ |
0.23 |
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$ |
0.43 |
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$ |
0.45 |
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| Diluted earnings per common share: |
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| Net income |
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$ |
0.22 |
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$ |
0.23 |
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|
$ |
0.43 |
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|
$ |
0.45 |
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The following table sets forth a reconciliation of the numerators and denominators in computing earnings per unit (in thousands, except per unit amounts):
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Three months ended June 30, |
|
Six months ended June 30, |
| |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
| Numerator: |
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| Net income attributable to partners of the Operating Partnership |
|
$ |
25,915 |
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|
$ |
25,300 |
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|
$ |
49,301 |
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|
$ |
49,912 |
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| Less allocation of earnings to participating securities |
|
(229) |
|
|
(257) |
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|
(460) |
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|
(456) |
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| Net income available to common unitholders of the Operating Partnership |
|
$ |
25,686 |
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|
$ |
25,043 |
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|
$ |
48,841 |
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|
$ |
49,456 |
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| Denominator: |
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| Basic weighted average common units |
|
113,391 |
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|
109,105 |
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|
113,234 |
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|
108,966 |
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| Effect of notional units |
|
600 |
|
|
722 |
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|
582 |
|
|
668 |
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| Effect of outstanding options |
|
910 |
|
|
773 |
|
|
916 |
|
|
758 |
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| Diluted weighted average common units |
|
114,901 |
|
|
110,600 |
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|
114,732 |
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|
110,392 |
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| Basic earnings per common unit: |
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| Net income |
|
$ |
0.23 |
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|
$ |
0.23 |
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|
$ |
0.43 |
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|
$ |
0.45 |
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| Diluted earnings per common unit: |
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| Net income |
|
$ |
0.22 |
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|
$ |
0.23 |
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|
$ |
0.43 |
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$ |
0.45 |
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