Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Rental revenues $ 497,516 $ 438,889 $ 421,419
Management, leasing and other services 7,739 7,407 6,833
Tanger Factory Outlet Centers, Inc. [Member]      
Revenues:      
Rental revenues 497,516 438,889 421,419
Management, leasing and other services 9,645 8,660 7,157
Other revenues 18,902 16,858 14,037
Total revenues 526,063 464,407 442,613
Expenses:      
Property operating 158,729 145,547 143,936
General and administrative 78,020 76,130 71,532
Depreciation and amortization 138,690 108,889 111,904
Total expenses 375,439 330,566 327,372
Other income (expense):      
Interest expense (60,637) (47,928) (46,967)
Loss on early extinguishment of debt 0 0 (222)
Gain on sale of assets 0 0 3,156
Other income (expense) 1,484 9,729 6,029
Total other income (expense) (59,153) (38,199) (38,004)
Income before equity in earnings of unconsolidated joint ventures 91,471 95,642 77,237
Equity in earnings of unconsolidated joint ventures 11,289 8,240 8,594
Net income 102,760 103,882 85,831
Noncontrolling interests in Operating Partnership (4,245) (4,483) (3,768)
Noncontrolling interests in other consolidated partnerships 80 (248) 0
Net income (loss) attributable to Tanger Factory Outlet Centers, Inc. $ 98,595 $ 99,151 $ 82,063
Basic earnings per common share:      
Net income (loss) (in dollars per share) $ 0.89 $ 0.94 $ 0.78
Diluted earnings per common share:      
Net income (loss) (in dollars per share) $ 0.88 $ 0.92 $ 0.77
Tanger Properties Limited Partnership [Member]      
Revenues:      
Rental revenues $ 497,516 $ 438,889 $ 421,419
Management, leasing and other services 9,645 8,660 7,157
Other revenues 18,902 16,858 14,037
Total revenues 526,063 464,407 442,613
Expenses:      
Property operating 158,729 145,547 143,936
General and administrative 78,020 76,130 71,532
Depreciation and amortization 138,690 108,889 111,904
Total expenses 375,439 330,566 327,372
Other income (expense):      
Interest expense (60,637) (47,928) (46,967)
Loss on early extinguishment of debt 0 0 (222)
Gain on sale of assets 0 0 3,156
Other income (expense) 1,484 9,729 6,029
Total other income (expense) (59,153) (38,199) (38,004)
Income before equity in earnings of unconsolidated joint ventures 91,471 95,642 77,237
Equity in earnings of unconsolidated joint ventures 11,289 8,240 8,594
Net income 102,760 103,882 85,831
Noncontrolling interests in consolidated partnerships 80 (248) 0
Net income (loss) attributable to Tanger Factory Outlet Centers, Inc. 102,840 103,634 85,831
Net income available to limited partners 101,791 102,588 84,971
Net income available to general partner $ 1,049 $ 1,046 $ 860
Basic earnings per common share:      
Net income (loss) (in dollars per share) $ 0.89 $ 0.94 $ 0.78
Diluted earnings per common share:      
Net income (loss) (in dollars per share) $ 0.88 $ 0.92 $ 0.77