Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Data of the Company (Unaudited) (Tables)

v3.20.4
Quarterly Financial Data of the Company (Unaudited) (Tables)
 12 Months Ended
Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information
The following table sets forth the Company's summarized quarterly financial information for the years ended December 31, 2020 and 2019 (unaudited and in thousands, except per common share data). This information is not required for the Operating Partnership:
Year Ended December 31, 2020(1)
First Quarter(2)
Second Quarter(3),(5)
Third Quarter(4),(5)
Fourth Quarter(6)
Total revenues $ 111,633  $ 63,990  $ 103,213  $ 111,155 
Net income (loss) (28,119) (23,890) 13,719  277 
Income (loss) attributable to Tanger Factory Outlet Centers, Inc. (26,882) (22,688) 13,029  263 
Income (loss) available to common shareholders of Tanger Factory Outlet Centers, Inc. $ (27,398) $ (22,864) $ 12,883  $ 260 
Basic earnings per common share:
Net income (loss) $ (0.30) $ (0.25) $ 0.14  $ — 
Diluted earnings per common share:
Net income (loss) $ (0.30) $ (0.25) $ 0.14  $ — 
(1)Quarterly amounts may not add to annual amounts due to the effect of rounding on a quarterly basis.
(2)In first quarter of 2020, net loss includes an impairment charge of $45.7 million related to our Foxwoods outlet center.
(3)The second quarter net loss includes our share of an impairment charge totaling $3.1 million in the 2020 period related to the Saint-Sauveur, Quebec outlet center in our Canadian joint venture.
(4)In the third quarter of 2020, net income includes a $2.3 million gain recorded on the sale of Terrell outlet center.
(5)We had significant revenue reductions caused by the COVID-19 pandemic.
(6)In fourth quarter of 2020, net income includes an impairment charges of $21.6 million related to our Foxwoods and Jeffersonville outlet centers.
Year Ended December 31, 2019(1)
First Quarter(2)
Second Quarter Third Quarter
Fourth Quarter(3)
Total revenues $ 123,155  $ 115,707  $ 118,994  $ 120,492 
Net income (loss) 65,841  14,457  24,809  (12,379)
Income (loss) attributable to Tanger Factory Outlet Centers, Inc. 62,331  13,727  23,546  (11,749)
Income (loss) available to common shareholders of Tanger Factory Outlet Centers, Inc. $ 61,720  $ 13,613  $ 23,241  $ (12,055)
Basic earnings per common share :
Net income (loss) $ 0.66  $ 0.15  $ 0.25  $ (0.13)
Diluted earnings per common share:
Net income (loss) $ 0.66  $ 0.15  $ 0.25  $ (0.13)
(1)Quarterly amounts may not add to annual amounts due to the effect of rounding on a quarterly basis.
(2)In the first quarter of 2019, net income includes a $43.4 million gain recorded on the sale of our Nags Head, Ocean City, Park City, and Williamsburg outlet centers.
(3)In the fourth quarter of 2019, net loss includes a $37.6 impairment charge related to our Jeffersonville, Ohio outlet center.