Quarterly report pursuant to Section 13 or 15(d)

TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS

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TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
OPERATING ACTIVITIES    
Net income (loss) $ 75,151 $ 79,037
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 103,410 76,656
Amortization of deferred financing costs 2,609 2,395
Equity in earnings of unconsolidated joint ventures (7,803) (6,030)
Equity-based compensation expense 8,980 9,040
Amortization of debt discounts, net 548 537
Amortization (accretion) of market rent rate adjustments, net 393 545
Straight-line rent adjustments (361) 1,409
Distributions of cumulative earnings from unconsolidated joint ventures 5,551 6,153
Changes in other assets and liabilities:    
Other assets 1,118 30
Accounts payable and accrued expenses (20,562) (17,659)
Net cash provided by operating activities 169,034 152,113
INVESTING ACTIVITIES    
Additions to rental property (73,430) (120,070)
Additions to investments in unconsolidated joint ventures 0 (2,612)
Additions to short-term investments 0 (7,679)
Proceeds from short-term investments (9,187) (46,979)
Additions to non-real estate assets (6,770) (7,126)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 2,837 4,102
Additions to deferred lease costs (2,561) (1,960)
Payments for other investing activities (1,972) (2,199)
Proceeds from other investing activities 5,357 3,426
Net cash used in investing activities (67,352) (87,139)
FINANCING ACTIVITIES    
Cash dividends paid (89,771) (76,298)
Repayments of notes, mortgages and loans (3,813) (3,629)
Employee income taxes paid related to shares withheld upon vesting of equity awards (10,665) (6,963)
Additions to deferred financing costs (6,876) 0
Proceeds from exercise of options 1,166 653
Payment for other financing activities (861) (941)
Contributions from noncontrolling interests in other consolidated partnerships 80 0
Distributions to noncontrolling interests in other consolidated partnerships 0  
Net cash used in financing activities (103,483) (88,324)
Effect of foreign currency rate changes on cash and cash equivalents 76 (315)
Net decrease in cash and cash equivalents (1,725) (23,665)
Cash and cash equivalents, beginning of period 12,778 212,124
Cash and cash equivalents, end of period 11,053 188,459
Common shares    
FINANCING ACTIVITIES    
Employee income taxes paid related to shares withheld upon vesting of equity awards   (6,963)
Additions to deferred financing costs   0
Distributions to noncontrolling interests in other consolidated partnerships (248)  
Tanger Properties Limited Partnership    
OPERATING ACTIVITIES    
Net income (loss) 75,151 79,037
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 103,410 76,656
Amortization of deferred financing costs 2,609 2,395
Equity in earnings of unconsolidated joint ventures (7,803) (6,030)
Equity-based compensation expense 8,980 9,040
Amortization of debt discounts, net 548 537
Amortization (accretion) of market rent rate adjustments, net 393 545
Straight-line rent adjustments (361) 1,409
Distributions of cumulative earnings from unconsolidated joint ventures 5,551 6,153
Changes in other assets and liabilities:    
Other assets 1,079 (373)
Accounts payable and accrued expenses (20,540) (17,499)
Net cash provided by operating activities 169,017 151,870
INVESTING ACTIVITIES    
Additions to rental property (73,430) (120,070)
Additions to investments in unconsolidated joint ventures 0  
Additions to investments in unconsolidated joint ventures   (2,612)
Additions to short-term investments 0 (7,679)
Proceeds from short-term investments (9,187) (46,979)
Additions to non-real estate assets (6,770) (7,126)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 2,837 4,102
Additions to deferred lease costs (2,561) (1,960)
Payments for other investing activities (1,972) (2,199)
Proceeds from other investing activities 5,357 3,426
Net cash used in investing activities (67,352) (87,139)
FINANCING ACTIVITIES    
Cash dividends paid (93,584) (79,667)
Proceeds from notes, mortgages and loans 262,000 0
Repayments of revolving credit facility (275,000) 0
Repayments of notes, mortgages and loans (3,813) (3,629)
Issuance of units, including transaction costs 24,070 2,471
Employee income taxes paid related to shares withheld upon vesting of equity awards (10,665)  
Additions to deferred financing costs (6,876)  
Proceeds from exercise of options 1,166 653
Payment for other financing activities (861) (941)
Contributions from noncontrolling interests in other consolidated partnerships 80 0
Distributions to noncontrolling interests in other consolidated partnerships 0 (248)
Net cash used in financing activities (103,483) (88,324)
Effect of foreign currency rate changes on cash and cash equivalents 76 (315)
Net decrease in cash and cash equivalents (1,742) (23,908)
Cash and cash equivalents, beginning of period 12,572 212,011
Cash and cash equivalents, end of period $ 10,830 $ 188,103