| 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 September 30, |
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Nine months ended September 30, |
| |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
| Numerator: |
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| Net income attributable to Tanger Inc. |
|
$ |
24,856 |
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|
$ |
27,624 |
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|
$ |
72,109 |
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|
$ |
75,367 |
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| Less allocation of earnings to participating securities |
|
(232) |
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|
(414) |
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|
(692) |
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|
(854) |
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| Net income available to common shareholders of Tanger Inc. |
|
$ |
24,624 |
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|
$ |
27,210 |
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|
$ |
71,417 |
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|
$ |
74,513 |
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| Denominator: |
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| Basic weighted average common shares |
|
108,972 |
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|
104,461 |
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|
108,675 |
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|
104,308 |
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| Effect of notional units |
|
799 |
|
|
1,026 |
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|
746 |
|
|
898 |
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| Effect of outstanding options |
|
933 |
|
|
832 |
|
|
925 |
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|
783 |
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| Diluted weighted average common shares |
|
110,704 |
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|
106,319 |
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|
110,346 |
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|
105,989 |
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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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$ |
0.26 |
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|
$ |
0.66 |
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|
$ |
0.71 |
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| Diluted earnings per common share: |
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| Net income |
|
$ |
0.22 |
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|
$ |
0.26 |
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|
$ |
0.65 |
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|
$ |
0.70 |
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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 September 30, |
|
Nine months ended September 30, |
| |
|
2024 |
|
2023 |
|
2024 |
|
2023 |
| Numerator: |
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|
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| Net income attributable to partners of the Operating Partnership |
|
$ |
25,930 |
|
|
$ |
28,877 |
|
|
$ |
75,231 |
|
|
$ |
78,789 |
|
| Less allocation of earnings to participating securities |
|
(232) |
|
|
(414) |
|
|
(692) |
|
|
(854) |
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| Net income available to common unitholders of the Operating Partnership |
|
$ |
25,698 |
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|
$ |
28,463 |
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|
$ |
74,539 |
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|
$ |
77,935 |
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| Denominator: |
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| Basic weighted average common units |
|
113,680 |
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|
109,199 |
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|
113,383 |
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|
109,046 |
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| Effect of notional units |
|
799 |
|
|
1,026 |
|
|
746 |
|
|
898 |
|
| Effect of outstanding options |
|
933 |
|
|
832 |
|
|
925 |
|
|
783 |
|
| Diluted weighted average common units |
|
115,412 |
|
|
111,057 |
|
|
115,054 |
|
|
110,727 |
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| Basic earnings per common unit: |
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| Net income |
|
$ |
0.23 |
|
|
$ |
0.26 |
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|
$ |
0.66 |
|
|
$ |
0.71 |
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| Diluted earnings per common unit: |
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|
|
|
|
|
|
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| Net income |
|
$ |
0.22 |
|
|
$ |
0.26 |
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|
$ |
0.65 |
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|
$ |
0.70 |
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