| Schedule of Accumulated Other Comprehensive Income (Loss) |
The following table presents changes in the balances of each component of accumulated other comprehensive income (loss) for the three months ended March 31, 2024 and 2023 (in thousands):
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Tanger Inc. Accumulated Other Comprehensive Income (Loss) |
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Noncontrolling Interest in Operating Partnership Accumulated Other Comprehensive Income (Loss) |
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Foreign Currency |
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Cash flow hedges |
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Total |
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Foreign Currency |
|
Cash flow hedges |
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Total |
| Balance December 31, 2023 |
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$ |
(23,085) |
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|
$ |
(434) |
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$ |
(23,519) |
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$ |
(1,293) |
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$ |
19 |
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$ |
(1,274) |
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| Other comprehensive income before reclassifications |
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(838) |
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— |
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|
(838) |
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|
(36) |
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— |
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(36) |
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Reclassification out of accumulated other comprehensive income (loss) into other income (expense) for interest expense for cash flow hedges |
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— |
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3,077 |
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3,077 |
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— |
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|
131 |
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|
131 |
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| Balance March 31, 2024 |
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$ |
(23,923) |
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$ |
2,643 |
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$ |
(21,280) |
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$ |
(1,329) |
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$ |
150 |
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$ |
(1,179) |
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Tanger Inc. Accumulated Other Comprehensive Income (Loss) |
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Noncontrolling Interest in Operating Partnership Accumulated Other Comprehensive Income (Loss) |
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Foreign Currency |
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Cash flow hedges |
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Total |
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Foreign Currency |
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Cash flow hedges |
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Total |
| Balance December 31, 2022 |
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$ |
(24,516) |
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|
$ |
13,479 |
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$ |
(11,037) |
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$ |
(1,351) |
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$ |
638 |
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$ |
(713) |
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| Other comprehensive loss before reclassifications |
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155 |
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— |
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|
155 |
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9 |
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— |
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|
9 |
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Reclassification out of accumulated other comprehensive income (loss) into other income (expense) for interest expense for cash flow hedges |
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— |
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|
(3,277) |
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|
(3,277) |
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— |
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|
(149) |
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|
(149) |
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| Balance March 31, 2023 |
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$ |
(24,361) |
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|
$ |
10,202 |
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$ |
(14,159) |
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$ |
(1,342) |
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$ |
489 |
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|
$ |
(853) |
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We expect within the next twelve months to reclassify into earnings as an increase to interest expense approximately $3.1 million of the amounts recorded within accumulated other comprehensive income related to the interest rate swap agreements in effect as of March 31, 2024.
The following table presents changes in the balances of each component of accumulated other comprehensive income (loss) for the three months ended March 31, 2024 (in thousands):
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Foreign Currency |
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Cash flow hedges |
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Accumulated Other Comprehensive Income (Loss) |
| Balance December 31, 2023 |
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$ |
(24,376) |
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$ |
(417) |
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|
$ |
(24,793) |
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| Other comprehensive income before reclassifications |
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(874) |
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— |
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|
(874) |
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Reclassification out of accumulated other comprehensive income (loss) into other income (expense) interest expense for cash flow hedges |
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— |
|
|
3,209 |
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|
3,209 |
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| Balance March 31, 2024 |
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$ |
(25,250) |
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$ |
2,792 |
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$ |
(22,458) |
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Foreign Currency |
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Cash flow hedges |
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Accumulated Other Comprehensive Income (Loss) |
| Balance December 31, 2022 |
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$ |
(25,867) |
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|
$ |
14,117 |
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|
$ |
(11,750) |
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| Other comprehensive loss before reclassifications |
|
164 |
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|
— |
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|
164 |
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Reclassification out of accumulated other comprehensive income (loss) into other income (expense) for interest expense for cash flow hedges |
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— |
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|
(3,426) |
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|
(3,426) |
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| Balance March 31, 2023 |
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$ |
(25,703) |
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$ |
10,691 |
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|
$ |
(15,012) |
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