| Schedule of Earnings Per Share, Basic and Diluted |
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 amounts):
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Three months ended September 30, |
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Nine months ended September 30, |
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2022 |
|
2021 |
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2022 |
|
2021 |
| Numerator: |
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| Net income (loss) attributable to Tanger Factory Outlet Centers, Inc. |
|
$ |
23,276 |
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|
$ |
(10,579) |
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|
$ |
63,699 |
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|
$ |
(3,968) |
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| Less allocation of earnings to participating securities |
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(232) |
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|
(401) |
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|
(669) |
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|
(804) |
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| Net income (loss) available to common shareholders of Tanger Factory Outlet Centers, Inc. |
|
$ |
23,044 |
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|
$ |
(10,980) |
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|
$ |
63,030 |
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|
$ |
(4,772) |
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| Denominator: |
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| Basic weighted average common shares |
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103,749 |
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|
103,269 |
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|
103,655 |
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|
99,446 |
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| Effect of notional units |
|
527 |
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— |
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|
473 |
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— |
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| Effect of outstanding options |
|
661 |
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— |
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|
701 |
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— |
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| Diluted weighted average common shares |
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104,937 |
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|
103,269 |
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|
104,829 |
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|
99,446 |
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| Basic earnings per common share: |
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| Net income (loss) |
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$ |
0.22 |
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|
$ |
(0.11) |
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$ |
0.61 |
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|
$ |
(0.05) |
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| Diluted earnings per common share: |
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| Net income (loss) |
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$ |
0.22 |
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|
$ |
(0.11) |
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$ |
0.60 |
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|
$ |
(0.05) |
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The following table sets forth a reconciliation of the numerators and denominators in computing earnings per unit (in thousands, except per unit amounts):
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Three months ended September 30, |
|
Nine months ended September 30, |
| |
|
2022 |
|
2021 |
|
2022 |
|
2021 |
| Numerator: |
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| Net income (loss) attributable to partners of the Operating Partnership |
|
$ |
24,345 |
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|
$ |
(11,071) |
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|
$ |
66,626 |
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|
$ |
(4,133) |
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| Less allocation of earnings to participating securities |
|
(232) |
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|
(401) |
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|
(669) |
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|
(804) |
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| Net income (loss) available to common unitholders of the Operating Partnership |
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$ |
24,113 |
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|
$ |
(11,472) |
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|
$ |
65,957 |
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|
$ |
(4,937) |
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| Denominator: |
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| Basic weighted average common units |
|
108,511 |
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|
108,063 |
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|
108,417 |
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|
104,241 |
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| Effect of notional units |
|
527 |
|
|
— |
|
|
473 |
|
|
— |
|
| Effect of outstanding options |
|
661 |
|
|
— |
|
|
701 |
|
|
— |
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| Diluted weighted average common units |
|
109,699 |
|
|
108,063 |
|
|
109,591 |
|
|
104,241 |
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| Basic earnings per common unit: |
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| Net income (loss) |
|
$ |
0.22 |
|
|
$ |
(0.11) |
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|
$ |
0.61 |
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|
$ |
(0.05) |
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| Diluted earnings per common unit: |
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| Net income (loss) |
|
$ |
0.22 |
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|
$ |
(0.11) |
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$ |
0.60 |
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|
$ |
(0.05) |
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