Quarterly report pursuant to Section 13 or 15(d)

TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS

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TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Rental revenues $ 125,221 $ 110,835 $ 365,349 $ 319,005
Management, leasing and other services 2,485 2,138 7,095 6,174
Other revenues 5,295 4,373 12,884 11,751
Total revenues 133,001 117,346 385,328 336,930
Expenses:        
Property operating 40,247 36,758 113,261 103,618
General and administrative 18,215 18,937 56,518 54,675
Depreciation and amortization 35,376 25,374 103,410 76,656
Total expenses 93,838 81,069 273,189 234,949
Other income (expense):        
Interest expense (15,493) (11,688) (45,546) (35,997)
Other income (expense) (52) 1,899 755 7,023
Total other income (expense) (15,545) (9,789) (44,791) (28,974)
Income before equity in earnings of unconsolidated joint ventures 23,618 26,488 67,348 73,007
Equity in earnings of unconsolidated joint ventures 2,312 2,389 7,803 6,030
Net income 25,930 28,877 75,151 79,037
Noncontrolling interests in Operating Partnership (1,074) (1,253) (3,122) (3,422)
Net income attributable to Tanger Inc. $ 24,856 $ 27,624 $ 72,109 $ 75,367
Basic earnings per common share/unit        
Net income (loss) (in dollars per share) $ 0.23 $ 0.26 $ 0.66 $ 0.71
Diluted earnings per common share/unit        
Net income (loss) (in dollars per share) $ 0.22 $ 0.26 $ 0.65 $ 0.70
Tanger Properties Limited Partnership        
Revenues:        
Rental revenues $ 125,221 $ 110,835 $ 365,349 $ 319,005
Management, leasing and other services 2,485 2,138 7,095 6,174
Other revenues 5,295 4,373 12,884 11,751
Total revenues 133,001 117,346 385,328 336,930
Expenses:        
Property operating 40,247 36,758 113,261 103,618
General and administrative 18,215 18,937 56,518 54,675
Depreciation and amortization 35,376 25,374 103,410 76,656
Total expenses 93,838 81,069 273,189 234,949
Other income (expense):        
Interest expense (15,493) (11,688) (45,546) (35,997)
Other income (expense) (52) 1,899 755 7,023
Total other income (expense) (15,545) (9,789) (44,791) (28,974)
Income before equity in earnings of unconsolidated joint ventures 23,618 26,488 67,348 73,007
Equity in earnings of unconsolidated joint ventures 2,312 2,389 7,803 6,030
Net income 25,930 28,877 75,151 79,037
Noncontrolling interests in Operating Partnership 0 0 80 (248)
Net income attributable to Tanger Inc. 25,930 28,877 75,231 78,789
Net income available to limited partners 25,671 28,588 74,477 78,001
Net income available to general partner $ 259 $ 289 $ 754 $ 788
Basic earnings per common share/unit        
Net income (loss) (in dollars per share) $ 0.23 $ 0.26 $ 0.66 $ 0.71
Diluted earnings per common share/unit        
Net income (loss) (in dollars per share) $ 0.22 $ 0.26 $ 0.65 $ 0.70