v3.21.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Rental revenues $ 107,265 $ 100,251 $ 301,556 $ 271,082
Management, leasing and other services 1,641 1,194 4,372 3,362
Tanger Factory Outlet Centers, Inc. [Member]        
Revenues:        
Rental revenues 107,265 100,251 301,556 271,082
Management, leasing and other services 1,641 1,194 4,372 3,362
Other revenues 3,559 1,768 8,504 4,392
Total revenues 112,465 103,213 314,432 278,836
Expenses:        
Property operating 37,186 35,206 103,747 101,991
General and administrative 14,817 11,181 47,310 35,331
Impairment charge 0 0 0 45,675
Depreciation and amortization 26,944 29,903 82,826 87,966
Total expenses 78,947 76,290 233,883 270,963
Other income (expense):        
Interest expense (13,282) (15,647) (40,982) (47,786)
Loss on early extinguishment of debt (33,821) 0 (47,860) 0
Gain on sale of assets 0 2,324 0 2,324
Other income (expense) 253 161 (2,598) 789
Total other income (expense) (46,850) (13,162) (91,440) (44,673)
Income (loss) before equity in earnings (losses) of unconsolidated joint ventures (13,332) 13,761 (10,891) (36,800)
Equity in earnings (losses) of unconsolidated joint ventures 2,261 (42) 6,758 (1,490)
Net income (loss) (11,071) 13,719 (4,133) (38,290)
Noncontrolling interests in Operating Partnership 492 (690) 165 1,939
Noncontrolling interests in other consolidated partnerships 0 0 0 (190)
Net income (loss) attributable to Tanger Factory Outlet Centers, Inc. $ (10,579) $ 13,029 $ (3,968) $ (36,541)
Basic earnings per common share/unit        
Net income (loss) $ (0.11) $ 0.14 $ (0.05) $ (0.40)
Diluted earnings per common share/unit        
Net income (loss) $ (0.11) $ 0.14 $ (0.05) $ (0.40)
Tanger Properties Limited Partnership [Member]        
Revenues:        
Rental revenues $ 107,265 $ 100,251 $ 301,556 $ 271,082
Management, leasing and other services 1,641 1,194 4,372 3,362
Other revenues 3,559 1,768 8,504 4,392
Total revenues 112,465 103,213 314,432 278,836
Expenses:        
Property operating 37,186 35,206 103,747 101,991
General and administrative 14,817 11,181 47,310 35,331
Impairment charge 0 0 0 45,675
Depreciation and amortization 26,944 29,903 82,826 87,966
Total expenses 78,947 76,290 233,883 270,963
Other income (expense):        
Interest expense (13,282) (15,647) (40,982) (47,786)
Loss on early extinguishment of debt (33,821) 0 (47,860) 0
Gain on sale of assets 0 2,324 0 2,324
Other income (expense) 253 161 (2,598) 789
Total other income (expense) (46,850) (13,162) (91,440) (44,673)
Income (loss) before equity in earnings (losses) of unconsolidated joint ventures (13,332) 13,761 (10,891) (36,800)
Equity in earnings (losses) of unconsolidated joint ventures 2,261 (42) 6,758 (1,490)
Net income (loss) (11,071) 13,719 (4,133) (38,290)
Noncontrolling interests in consolidated partnerships 0 0 0 (190)
Net income (loss) attributable to Tanger Factory Outlet Centers, Inc. (11,071) 13,719 (4,133) (38,480)
Net income (loss) available to limited partners (10,959) 13,580 (4,095) (38,089)
Net income (loss) available to general partner $ (112) $ 139 $ (38) $ (391)
Basic earnings per common share/unit        
Net income (loss) $ (0.11) $ 0.14 $ (0.05) $ (0.40)
Diluted earnings per common share/unit        
Net income (loss) $ (0.11) $ 0.14 $ (0.05) $ (0.40)

Source