Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.21.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
FINANCING ACTIVITIES    
Proceeds from common share offering $ 128,655 $ 0
Tanger Factory Outlet Centers, Inc. [Member]    
OPERATING ACTIVITIES    
Net income (loss) 4,342 (28,119)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 28,150 29,417
Impairment charge 0 45,675
Amortization of deferred financing costs 1,173 757
Equity in earnings of unconsolidated joint ventures (1,769) (1,527)
Equity-based compensation expense 3,845 3,789
Amortization of debt (premiums) and discounts, net 127 118
Amortization (accretion) of market rent rate adjustments, net (213) 362
Straight-line rent adjustments 1,043 (1,872)
Distributions of cumulative earnings from unconsolidated joint ventures 890 1,517
Other non-cash 3,638 0
Changes in other assets and liabilities:    
Other assets 2,981 2,210
Accounts payable and accrued expenses (12,931) (25,045)
Net cash provided by operating activities 31,276 27,282
INVESTING ACTIVITIES    
Additions to rental property (7,357) (10,551)
Additions to investments in unconsolidated joint ventures (7,000) (261)
Net proceeds from sale of assets 8,129 0
Additions to non-real estate assets (414) (677)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 7,631 3,488
Additions to deferred lease costs (3,668) (1,220)
Other investing activities 5,396 2,844
Net cash provided by (used in) investing activities 2,717 (6,377)
FINANCING ACTIVITIES    
Cash dividends paid (16,924) (33,034)
Distributions to noncontrolling interests in Operating Partnership (851) (1,744)
Proceeds from revolving credit facility 0 634,030
Repayments of revolving credit facility 0 (34,200)
Repayments of notes, mortgages and loans (25,924) (873)
Employee income taxes paid related to shares withheld upon vesting of equity awards (1,637) (736)
Additions to deferred financing costs (76) (65)
Proceeds from common share offering 128,655 0
Proceeds from other financing activities 0 72
Payment for other financing activities (287) (549)
Net cash provided by financing activities 82,956 562,901
Effect of foreign currency rate changes on cash and cash equivalents (60) (24)
Net increase in cash and cash equivalents 116,889 583,782
Cash and cash equivalents, beginning of period 84,832 16,672
Cash and cash equivalents, end of period 201,721 600,454
Tanger Properties Limited Partnership [Member]    
OPERATING ACTIVITIES    
Net income (loss) 4,342 (28,119)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 28,150 29,417
Impairment charge 0 45,675
Amortization of deferred financing costs 1,173 757
Equity in earnings of unconsolidated joint ventures (1,769) (1,527)
Equity-based compensation expense 3,845 3,789
Amortization of debt (premiums) and discounts, net 127 118
Amortization (accretion) of market rent rate adjustments, net (213) 362
Straight-line rent adjustments 1,043 (1,872)
Distributions of cumulative earnings from unconsolidated joint ventures 890 1,517
Other non-cash 3,638 0
Changes in other assets and liabilities:    
Other assets 2,868 2,552
Accounts payable and accrued expenses (12,893) (25,329)
Net cash provided by operating activities 31,201 27,340
INVESTING ACTIVITIES    
Additions to rental property (7,357) (10,551)
Additions to investments in unconsolidated joint ventures (7,000) (261)
Net proceeds from sale of assets 8,129 0
Additions to non-real estate assets (414) (677)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 7,631 3,488
Additions to deferred lease costs (3,668) (1,220)
Other investing activities 5,396 2,844
Net cash provided by (used in) investing activities 2,717 (6,377)
FINANCING ACTIVITIES    
Cash dividends paid (17,775) (34,778)
Proceeds from revolving credit facility 0 634,030
Repayments of revolving credit facility 0 (34,200)
Repayments of notes, mortgages and loans (25,924) (873)
Employee income taxes paid related to shares withheld upon vesting of equity awards (1,637) (736)
Additions to deferred financing costs (76) (65)
Proceeds from common share offering 128,655 0
Proceeds from other financing activities 0 72
Payment for other financing activities (287) (549)
Net cash provided by financing activities 82,956 562,901
Effect of foreign currency rate changes on cash and cash equivalents (60) (24)
Net increase in cash and cash equivalents 116,814 583,840
Cash and cash equivalents, beginning of period 84,750 16,519
Cash and cash equivalents, end of period $ 201,564 $ 600,359