| 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 June 30, |
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Six months ended June 30, |
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2022 |
|
2021 |
|
2022 |
|
2021 |
| Numerator: |
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| Net income attributable to Tanger Factory Outlet Centers, Inc. |
|
$ |
19,905 |
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|
$ |
2,478 |
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|
$ |
40,423 |
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|
$ |
6,611 |
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| Less allocation of earnings to participating securities |
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(222) |
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|
(196) |
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|
(437) |
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|
(403) |
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| Net income available to common shareholders of Tanger Factory Outlet Centers, Inc. |
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$ |
19,683 |
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|
$ |
2,282 |
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|
$ |
39,986 |
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|
$ |
6,208 |
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| Denominator: |
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| Basic weighted average common shares |
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103,630 |
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|
100,409 |
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|
103,607 |
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|
97,504 |
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| Effect of notional units |
|
421 |
|
|
818 |
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|
413 |
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|
685 |
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| Effect of outstanding options |
|
703 |
|
|
771 |
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|
720 |
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|
728 |
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| Diluted weighted average common shares |
|
104,754 |
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|
101,998 |
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|
104,740 |
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|
98,917 |
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| Basic earnings per common share: |
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| Net income |
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$ |
0.19 |
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$ |
0.02 |
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$ |
0.39 |
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$ |
0.06 |
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| Diluted earnings per common share: |
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| Net income |
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$ |
0.19 |
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|
$ |
0.02 |
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|
$ |
0.38 |
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|
$ |
0.06 |
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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 June 30, |
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Six months ended June 30, |
| |
|
2022 |
|
2021 |
|
2022 |
|
2021 |
| Numerator: |
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|
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| Net income attributable to partners of the Operating Partnership |
|
$ |
20,819 |
|
|
$ |
2,596 |
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|
$ |
42,281 |
|
|
$ |
6,938 |
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| Less allocation of earnings to participating securities |
|
(222) |
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|
(196) |
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|
(437) |
|
|
(403) |
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| Net income available to common unitholders of the Operating Partnership |
|
$ |
20,597 |
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|
$ |
2,400 |
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|
$ |
41,844 |
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|
$ |
6,535 |
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| Denominator: |
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| Basic weighted average common units |
|
108,391 |
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|
105,204 |
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|
108,369 |
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|
102,299 |
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| Effect of notional units |
|
421 |
|
|
818 |
|
|
413 |
|
|
685 |
|
| Effect of outstanding options |
|
703 |
|
|
771 |
|
|
720 |
|
|
728 |
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| Diluted weighted average common units |
|
109,515 |
|
|
106,793 |
|
|
109,502 |
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|
103,712 |
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| Basic earnings per common unit: |
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| Net income |
|
$ |
0.19 |
|
|
$ |
0.02 |
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|
$ |
0.39 |
|
|
$ |
0.06 |
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| Diluted earnings per common unit: |
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| Net income |
|
$ |
0.19 |
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|
$ |
0.02 |
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|
$ |
0.38 |
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|
$ |
0.06 |
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