Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
FINANCING ACTIVITIES    
Proceeds from the Company's common share offering $ 180,876 $ 0
Tanger Factory Outlet Centers, Inc. [Member]    
OPERATING ACTIVITIES    
Net income (loss) 6,938 (52,009)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 55,882 58,063
Impairment charge 0 45,675
Amortization of deferred financing costs 2,320 1,590
Loss on early extinguishment of debt 14,039 0
Equity in (earnings) losses of unconsolidated joint ventures (4,497) 1,448
Equity-based compensation expense 6,608 7,219
Amortization of debt (premiums) and discounts, net 210 237
Amortization (accretion) of market rent rate adjustments, net 25 411
Straight-line rent adjustments 1,521 677
Distributions of cumulative earnings from unconsolidated joint ventures 4,774 2,092
Other non-cash 3,638 0
Changes in other assets and liabilities:    
Other assets 12,619 (35,587)
Accounts payable and accrued expenses (12,472) (15,572)
Net cash provided by operating activities 91,605 14,244
INVESTING ACTIVITIES    
Additions to rental property (11,836) (16,476)
Additions to investments in unconsolidated joint ventures (7,000) (5,601)
Net proceeds from sale of assets 8,129 0
Additions to non-real estate assets (781) (1,191)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 13,364 3,093
Additions to deferred lease costs (4,562) (1,655)
Other investing activities 6,695 5,009
Net cash provided by (used in) investing activities 4,009 (16,821)
FINANCING ACTIVITIES    
Cash dividends paid (34,875) (66,563)
Distributions to noncontrolling interests in Operating Partnership (1,702) (3,499)
Proceeds from revolving credit facility 0 634,030
Repayments of revolving credit facility 0 (234,200)
Repayments of notes, mortgages and loans (201,861) (1,758)
Payment of make-whole premium related to early extinguishment of debt (12,954) 0
Employee income taxes paid related to shares withheld upon vesting of equity awards (1,637) (736)
Additions to deferred financing costs (123) (1,797)
Proceeds from exercise of options 89 0
Proceeds from the Company's common share offering 180,876 0
Proceeds from other financing activities 0 72
Payment for other financing activities (574) (835)
Net cash provided by (used in) financing activities (72,761) 324,714
Effect of foreign currency rate changes on cash and cash equivalents (73) (203)
Net increase in cash and cash equivalents 22,780 321,934
Cash and cash equivalents, beginning of period 84,832 16,672
Cash and cash equivalents, end of period 107,612 338,606
Tanger Properties Limited Partnership [Member]    
OPERATING ACTIVITIES    
Net income (loss) 6,938 (52,009)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 55,882 58,063
Impairment charge 0 45,675
Amortization of deferred financing costs 2,320 1,590
Loss on early extinguishment of debt 14,039 0
Equity in (earnings) losses of unconsolidated joint ventures (4,497) 1,448
Equity-based compensation expense 6,608 7,219
Amortization of debt (premiums) and discounts, net 210 237
Amortization (accretion) of market rent rate adjustments, net 25 411
Straight-line rent adjustments 1,521 677
Distributions of cumulative earnings from unconsolidated joint ventures 4,774 2,092
Other non-cash 3,638 0
Changes in other assets and liabilities:    
Other assets 12,454 (35,696)
Accounts payable and accrued expenses (12,633) (15,490)
Net cash provided by operating activities 91,279 14,217
INVESTING ACTIVITIES    
Additions to rental property (11,836) (16,476)
Additions to investments in unconsolidated joint ventures (7,000) (5,601)
Net proceeds from sale of assets 8,129 0
Additions to non-real estate assets (781) (1,191)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 13,364 3,093
Additions to deferred lease costs (4,562) (1,655)
Other investing activities 6,695 5,009
Net cash provided by (used in) investing activities 4,009 (16,821)
FINANCING ACTIVITIES    
Cash dividends paid (36,577) (70,062)
Proceeds from revolving credit facility 0 634,030
Repayments of revolving credit facility 0 (234,200)
Repayments of notes, mortgages and loans (201,861) (1,758)
Payment of make-whole premium related to early extinguishment of debt (12,954) 0
Employee income taxes paid related to shares withheld upon vesting of equity awards (1,637) (736)
Additions to deferred financing costs (123) (1,797)
Proceeds from exercise of options 89 0
Proceeds from the Company's common share offering 180,876 0
Proceeds from other financing activities 0 72
Payment for other financing activities (574) (835)
Net cash provided by (used in) financing activities (72,761) 324,714
Effect of foreign currency rate changes on cash and cash equivalents (73) (203)
Net increase in cash and cash equivalents 22,454 321,907
Cash and cash equivalents, beginning of period 84,750 16,519
Cash and cash equivalents, end of period $ 107,204 $ 338,426