Quarterly report pursuant to Section 13 or 15(d)

TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS

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TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Rental revenues $ 122,319 $ 104,588 $ 240,128 $ 208,170
Management, leasing and other services 2,332 2,122 4,610 4,036
Other revenues 4,305 3,931 7,589 7,378
Total revenues 128,956 110,641 252,327 219,584
Expenses:        
Property operating 37,549 33,712 73,014 66,860
General and administrative 18,813 18,304 38,303 35,738
Depreciation and amortization 34,174 25,389 68,034 51,282
Total expenses 90,536 77,405 179,351 153,880
Other income (expense):        
Interest expense (15,700) (11,966) (30,053) (24,309)
Other income (expense) 220 2,324 807 5,124
Total other income (expense) (15,480) (9,642) (29,246) (19,185)
Income before equity in earnings of unconsolidated joint ventures 22,940 23,594 43,730 46,519
Equity in earnings of unconsolidated joint ventures 2,975 1,706 5,491 3,641
Net income 25,915 25,300 49,221 50,160
Noncontrolling interests in Operating Partnership (1,075) (1,098) (2,048) (2,169)
Net income attributable to Tanger Inc. $ 24,840 $ 24,202 $ 47,253 $ 47,743
Basic earnings per common share/unit        
Net income (loss) (in dollars per share) $ 0.23 $ 0.23 $ 0.43 $ 0.45
Diluted earnings per common share/unit        
Net income (loss) (in dollars per share) $ 0.22 $ 0.23 $ 0.43 $ 0.45
Tanger Properties Limited Partnership        
Revenues:        
Rental revenues $ 122,319 $ 104,588 $ 240,128 $ 208,170
Management, leasing and other services 2,332 2,122 4,610 4,036
Other revenues 4,305 3,931 7,589 7,378
Total revenues 128,956 110,641 252,327 219,584
Expenses:        
Property operating 37,549 33,712 73,014 66,860
General and administrative 18,813 18,304 38,303 35,738
Depreciation and amortization 34,174 25,389 68,034 51,282
Total expenses 90,536 77,405 179,351 153,880
Other income (expense):        
Interest expense (15,700) (11,966) (30,053) (24,309)
Other income (expense) 220 2,324 807 5,124
Total other income (expense) (15,480) (9,642) (29,246) (19,185)
Income before equity in earnings of unconsolidated joint ventures 22,940 23,594 43,730 46,519
Equity in earnings of unconsolidated joint ventures 2,975 1,706 5,491 3,641
Net income 25,915 25,300 49,221 50,160
Noncontrolling interests in Operating Partnership 0 0 80 (248)
Net income attributable to Tanger Inc. 25,915 25,300 49,301 49,912
Net income available to limited partners 25,656 25,047 48,806 49,413
Net income available to general partner $ 259 $ 253 $ 495 $ 499
Basic earnings per common share/unit        
Net income (loss) (in dollars per share) $ 0.23 $ 0.23 $ 0.43 $ 0.45
Diluted earnings per common share/unit        
Net income (loss) (in dollars per share) $ 0.22 $ 0.23 $ 0.43 $ 0.45