| 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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2023 |
|
2022 |
|
2023 |
|
2022 |
| Numerator: |
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| Net income attributable to Tanger Factory Outlet Centers, Inc. |
|
$ |
27,624 |
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|
$ |
23,276 |
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|
$ |
75,367 |
|
|
$ |
63,699 |
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| Less allocation of earnings to participating securities |
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(414) |
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|
(232) |
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|
(854) |
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|
(669) |
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| Net income available to common shareholders of Tanger Factory Outlet Centers, Inc. |
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$ |
27,210 |
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|
$ |
23,044 |
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|
$ |
74,513 |
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|
$ |
63,030 |
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| Denominator: |
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| Basic weighted average common shares |
|
104,461 |
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|
103,749 |
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|
104,308 |
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|
103,655 |
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| Effect of notional units |
|
1,026 |
|
|
527 |
|
|
898 |
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|
473 |
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| Effect of outstanding options |
|
832 |
|
|
661 |
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|
783 |
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|
701 |
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| Diluted weighted average common shares |
|
106,319 |
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|
104,937 |
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|
105,989 |
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|
104,829 |
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| Basic earnings per common share: |
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| Net income |
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$ |
0.26 |
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$ |
0.22 |
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$ |
0.71 |
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$ |
0.61 |
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| Diluted earnings per common share: |
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| Net income |
|
$ |
0.26 |
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|
$ |
0.22 |
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|
$ |
0.70 |
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|
$ |
0.60 |
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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, |
| |
|
2023 |
|
2022 |
|
2023 |
|
2022 |
| Numerator: |
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|
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| Net income attributable to partners of the Operating Partnership |
|
$ |
28,877 |
|
|
$ |
24,345 |
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|
$ |
78,789 |
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|
$ |
66,626 |
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| Less allocation of earnings to participating securities |
|
(414) |
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|
(232) |
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|
(854) |
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|
(669) |
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| Net income available to common unitholders of the Operating Partnership |
|
$ |
28,463 |
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|
$ |
24,113 |
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|
$ |
77,935 |
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|
$ |
65,957 |
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| Denominator: |
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| Basic weighted average common units |
|
109,199 |
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|
108,511 |
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|
109,046 |
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|
108,417 |
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| Effect of notional units |
|
1,026 |
|
|
527 |
|
|
898 |
|
|
473 |
|
| Effect of outstanding options |
|
832 |
|
|
661 |
|
|
783 |
|
|
701 |
|
| Diluted weighted average common units |
|
111,057 |
|
|
109,699 |
|
|
110,727 |
|
|
109,591 |
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| Basic earnings per common unit: |
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| Net income |
|
$ |
0.26 |
|
|
$ |
0.22 |
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|
$ |
0.71 |
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|
$ |
0.61 |
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| Diluted earnings per common unit: |
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| Net income |
|
$ |
0.26 |
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|
$ |
0.22 |
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|
$ |
0.70 |
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|
$ |
0.60 |
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