Exhibit 12.2

TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges
(in thousands, except ratios)

 
Nine months ended September 30,
 
2018
 
2017
Earnings:
 
 
 
Income before equity in earnings (losses) of unconsolidated joint ventures and noncontrolling interests  (1)
$
18,711

 
$
39,628

Add:
 
 
 
Distributed income of unconsolidated joint ventures
6,081

 
8,128

Amortization of capitalized interest
578

 
533

Interest expense
48,348

 
49,496

Portion of rent expense - interest factor
1,779

 
1,793

Total earnings
75,497

 
99,578

 
 
 
 
Fixed charges:
 
 
 
Interest expense
48,348

 
49,496

Capitalized interest and capitalized amortization of debt issue costs
87

 
2,089

Portion of rent expense - interest factor
1,779

 
1,793

Total fixed charges
$
50,214

 
$
53,378

 
 
 
 
Ratio of earnings to fixed charges
1.5

 
1.9

 
 
 
 
Earnings:
 
 
 
Income before equity in earnings (losses) of unconsolidated joint ventures and noncontrolling interests (1)
$
18,711

 
$
39,628

Add:
 
 
 
Distributed income of unconsolidated joint ventures
6,081

 
8,128

Amortization of capitalized interest
578

 
533

Interest expense
48,348

 
49,496

Portion of rent expense - interest factor
1,779

 
1,793

Total earnings
75,497

 
99,578

 
 
 
 
Fixed charges and preferred unit distributions:
 
 
 
Interest expense
48,348

 
49,496

Capitalized interest and capitalized amortization of debt issue costs
87

 
2,089

Portion of rent expense - interest factor
1,779

 
1,793

Preferred unit distributions
—

 
—

 
 
 
 
Total combined fixed charges and preferred unit distributions
$
50,214

 
$
53,378

 
 
 
 
Ratio of earnings to combined fixed charges and preferred unit distributions
1.5

 
1.9


 

(1)
Income before equity in earnings (losses) of unconsolidated joint ventures and noncontrolling interests for the period ended September 30, 2018 includes a $49.7 million impairment charge related to our Jeffersonville, OH outlet center. Income before equity in earnings (losses) of unconsolidated joint ventures and noncontrolling interests for the period ended September 30, 2017, includes a $6.9 million gain on the sale of our outlet center in Westbrook, Connecticut and a $35.6 million loss on early extinguishment of debt related to the early redemption of senior notes due 2020.