Tanger Inc. Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

The following table sets forth our assets and liabilities that are measured at fair value within the fair value hierarchy (in thousands):


			Level 1		Level 2		Level 3
			Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Observable Inputs		Significant Unobservable Inputs
	Total
Fair value as of December 31, 2024:
Asset:
Interest rate swaps (prepaids and other assets)	$	1,288	$	—	$	1,288	$	—
Total assets	$	1,288	$	—	$	1,288	$	—

Liabilities:
Interest rate swaps (other liabilities)	$	(968)	$	—	$	(968)	$	—
Total liabilities	$	(968)	$	—	$	(968)	$	—


			Level 1		Level 2		Level 3
			Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Observable Inputs		Significant Unobservable Inputs
	Total
Fair value as of December 31, 2023:
Assets:
Interest rate swaps (prepaids and other assets)	$	2,708	$	—	$	2,708	$	—
Total assets	$	2,708	$	—	$	2,708	$	—

Liabilities:
Interest rate swaps (other liabilities)	$	(3,018)	$	—	$	(3,018)	$	—
Total liabilities	$	(3,018)	$	—	$	(3,018)	$	—

The estimated fair value and recorded value of our debt as of December 31, 2024 and 2023 were as follows (in thousands):


	2024		2023
Level 1 Quoted Prices in Active Markets for Identical Assets or Liabilities	$	—	$	—
Level 2 Significant Observable Inputs	961,783		918,091
Level 3 Significant Unobservable Inputs	387,048		401,609
Total fair value of debt	$	1,348,831	$	1,319,700

Recorded value of debt	$	1,423,759	$	1,439,203