| 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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2023 |
|
2022 |
|
2023 |
|
2022 |
| Numerator: |
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| Net income attributable to Tanger Factory Outlet Centers, Inc. |
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$ |
24,202 |
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|
$ |
19,905 |
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|
$ |
47,743 |
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|
$ |
40,423 |
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| Less allocation of earnings to participating securities |
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(257) |
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|
(222) |
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|
(456) |
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|
(437) |
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| Net income available to common shareholders of Tanger Factory Outlet Centers, Inc. |
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$ |
23,945 |
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|
$ |
19,683 |
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|
$ |
47,287 |
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|
$ |
39,986 |
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| Denominator: |
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| Basic weighted average common shares |
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104,367 |
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|
103,630 |
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|
104,228 |
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|
103,607 |
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| Effect of notional units |
|
722 |
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|
421 |
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|
668 |
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|
413 |
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| Effect of outstanding options |
|
773 |
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|
703 |
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|
758 |
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|
720 |
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| Diluted weighted average common shares |
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105,862 |
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|
104,754 |
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|
105,654 |
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|
104,740 |
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| Basic earnings per common share: |
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| Net income |
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$ |
0.23 |
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$ |
0.19 |
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$ |
0.45 |
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$ |
0.39 |
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| Diluted earnings per common share: |
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| Net income |
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$ |
0.23 |
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$ |
0.19 |
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$ |
0.45 |
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|
$ |
0.38 |
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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, |
| |
|
2023 |
|
2022 |
|
2023 |
|
2022 |
| Numerator: |
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| Net income attributable to partners of the Operating Partnership |
|
$ |
25,300 |
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|
$ |
20,819 |
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|
$ |
49,912 |
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|
$ |
42,281 |
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| Less allocation of earnings to participating securities |
|
(257) |
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|
(222) |
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|
(456) |
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|
(437) |
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| Net income available to common unitholders of the Operating Partnership |
|
$ |
25,043 |
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|
$ |
20,597 |
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|
$ |
49,456 |
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|
$ |
41,844 |
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| Denominator: |
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| Basic weighted average common units |
|
109,105 |
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|
108,391 |
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|
108,966 |
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|
108,369 |
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| Effect of notional units |
|
722 |
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|
421 |
|
|
668 |
|
|
413 |
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| Effect of outstanding options |
|
773 |
|
|
703 |
|
|
758 |
|
|
720 |
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| Diluted weighted average common units |
|
110,600 |
|
|
109,515 |
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|
110,392 |
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|
109,502 |
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| Basic earnings per common unit: |
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| Net income |
|
$ |
0.23 |
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$ |
0.19 |
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$ |
0.45 |
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|
$ |
0.39 |
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| Diluted earnings per common unit: |
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| Net income |
|
$ |
0.23 |
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|
$ |
0.19 |
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$ |
0.45 |
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$ |
0.38 |
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