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 data):
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Three Months Ended
June 30,
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Six Months Ended
June 30,
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2012 |
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2011 |
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2012 |
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2011 |
Numerator |
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Net income attributable to Tanger Factory Outlet Centers, Inc. |
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$ |
11,717 |
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$ |
9,422 |
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$ |
19,845 |
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$ |
18,820 |
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Less allocation of earnings to participating securities |
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(209 |
) |
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(165 |
) |
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(367 |
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(357 |
) |
Net income available to common shareholders of Tanger Factory Outlet Centers, Inc. |
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$ |
11,508 |
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$ |
9,257 |
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$ |
19,478 |
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$ |
18,463 |
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Denominator |
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Basic weighted average common shares |
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91,717 |
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80,483 |
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90,694 |
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80,418 |
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Effect of notional units |
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1,014 |
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416 |
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1,007 |
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416 |
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Effect of senior exchangeable notes |
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— |
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131 |
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— |
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131 |
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Effect of outstanding options |
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85 |
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74 |
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74 |
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74 |
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Diluted weighted average common shares |
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92,816 |
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81,104 |
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91,775 |
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81,039 |
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Basic earnings per common share: |
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Net income |
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$ |
0.13 |
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$ |
0.11 |
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$ |
0.21 |
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$ |
0.23 |
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Diluted earnings per common share: |
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Net income |
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$ |
0.12 |
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$ |
0.11 |
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$ |
0.21 |
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$ |
0.23 |
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