Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Tanger Factory Outlet Centers, Inc
    
Net income $ 21,292,000 $ 21,659,000
Depreciation and amortization (including discontinued operations) 50,438,000 35,823,000
Amortization of deferred financing costs 1,146,000 948,000
Equity in earnings (losses) of unconsolidated joint ventures 2,319,000 796,000
Equity-based compensation expense 5,797,000 3,618,000
Amortization of debt premiums and discount, net 499,000 (45,000)
Distributions of cumulative earnings from unconsolidated joint ventures 466,000 156,000
Net accretion of market rent rate adjustment (430,000) (357,000)
Straight-line base rent adjustment (1,789,000) (2,033,000)
Changes in other assets and liabilities :    
Other assets 3,956,000 4,295,000
Accounts payable and accrued expenses (113,000) 5,081,000
Net cash provided by operating activities 82,809,000 59,869,000
INVESTING ACTIVITIES    
Additions to rental property (19,945,000) (30,031,000)
Payments to Acquire Real Estate 0 (134,000,000)
Payments to Acquire Interest in Subsidiaries and Affiliates (46,893,000) 0
Distributions in excess of cumulative earnings from unconsolidated joint ventures (310,000) (444,000)
Deposits into escrow for potential acquisition 0 (13,089,000)
Net proceeds from the sale of real estate 0 724,000
Additions to deferred lease costs (2,531,000) (6,166,000)
Net cash used in investing activities (69,059,000) (182,118,000)
FINANCING ACTIVITIES    
Cash distributions paid (37,589,000) (32,009,000)
Distributions to noncontrolling interest in Operating Partnership (2,782,000) (4,776,000)
Proceeds from debt issuances 432,732,000 306,850,000
Repayments of debt (399,864,000) (135,030,000)
Additions to deferred financing costs (2,527,000) (149,000)
Proceeds from exercise of options 241,000 43,000
Net cash used in financing activities (9,789,000) 134,929,000
Net decrease in cash and cash equivalents 3,961,000 12,680,000
Cash and cash equivalents, beginning of period 7,894,000 5,758,000
Cash and cash equivalents, end of period 11,855,000 18,438,000
Tanger Properties Limited Partnership
    
Net income 21,292,000 21,659,000
Depreciation and amortization (including discontinued operations) 50,438,000 35,823,000
Amortization of deferred financing costs 1,146,000 948,000
Equity in earnings (losses) of unconsolidated joint ventures 2,319,000 796,000
Equity-based compensation expense 5,797,000 3,618,000
Amortization of debt premiums and discount, net 499,000 (45,000)
Distributions of cumulative earnings from unconsolidated joint ventures 466,000 156,000
Net accretion of market rent rate adjustment (430,000) (357,000)
Straight-line base rent adjustment (1,789,000) (2,033,000)
Changes in other assets and liabilities :    
Other assets 3,854,000 4,256,000
Accounts payable and accrued expenses (111,000) 5,027,000
Net cash provided by operating activities 82,705,000 59,884,000
INVESTING ACTIVITIES    
Additions to rental property (19,945,000) (30,031,000)
Payments to Acquire Real Estate 0 (134,000,000)
Payments to Acquire Interest in Subsidiaries and Affiliates (46,893,000) 0
Distributions in excess of cumulative earnings from unconsolidated joint ventures (310,000) (444,000)
Deposits into escrow for potential acquisition 0 (13,089,000)
Net proceeds from the sale of real estate 0 724,000
Additions to deferred lease costs (2,531,000) (6,166,000)
Net cash used in investing activities (69,059,000) (182,118,000)
FINANCING ACTIVITIES    
Cash distributions paid (40,371,000) (36,785,000)
Proceeds from debt issuances 432,732,000 306,850,000
Repayments of debt (399,864,000) (135,030,000)
Additions to deferred financing costs (2,527,000) (149,000)
Proceeds from exercise of options 241,000 43,000
Net cash used in financing activities (9,789,000) 134,929,000
Net decrease in cash and cash equivalents 3,857,000 12,695,000
Cash and cash equivalents, beginning of period 7,866,000 5,671,000
Cash and cash equivalents, end of period $ 11,723,000 $ 18,366,000