Tanger Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Schedule III

Schedule III

12 Months Ended

Dec. 31, 2012

Real Estate and Accumulated Depreciation Disclosure [Abstract]

Real Estate and Accumulated Depreciation Disclosure



TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES
TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
For the Year Ended December 31, 2012 (in thousands)

Description				Initial cost to Company				Costs Capitalized Subsequent to Acquisition (Improvements)				Gross Amount Carried at Close of Period December 31, 2012 ⁽¹⁾
Outlet Center Name	Location	Encum-brances		Land		Buildings, Improve-ments & Fixtures		Land		Buildings, Improve-ments & Fixtures		Land		Buildings, Improve-ments & Fixtures		Total		Accumulated Depreciation		Date of Construction	Life Used to Compute Depreciation in Income Statement
Atlantic City	Atlantic City, NJ	$	56,707	$	—	$	125,988	$	—	$	1,153	$	—	$	127,141	$	127,141	$	7,066	2011 ⁽³⁾	⁽²⁾
Barstow	Barstow, CA	—		3,281		12,533		—		19,796		3,281		32,329		35,610		16,362		1995	⁽²⁾
Blowing Rock	Blowing Rock, NC	—		1,963		9,424		—		5,185		1,963		14,609		16,572		7,221		1997 ⁽³⁾	⁽²⁾
Branson	Branson, MO	—		4,407		25,040		396		13,974		4,803		39,014		43,817		23,770		1994	⁽²⁾
Charleston	Charleston, SC	—		10,353		48,877		—		7,763		10,353		56,640		66,993		16,618		2006	⁽²⁾
Commerce II	Commerce, GA	—		1,262		14,046		707		30,199		1,969		44,245		46,214		24,736		1995	⁽²⁾
Foley	Foley, AL	—		4,400		82,410		693		40,549		5,093		122,959		128,052		34,349		2003 ⁽³⁾	⁽²⁾
Gonzales	Gonzales, LA	—		679		15,895		—		25,433		679		41,328		42,007		21,802		1992	⁽²⁾
Hershey	Hershey, PA	32,213		3,673		48,186		—		1,884		3,673		50,070		53,743		2,702		2011⁽³⁾	⁽²⁾
Hilton Head I	Bluffton, SC	—		4,753		—		—		31,161		4,753		31,161		35,914		3,345		2011	⁽²⁾
Hilton Head II	Bluffton, SC	—		5,128		20,668		—		7,523		5,128		28,191		33,319		9,281		2003 ⁽³⁾	⁽²⁾
Howell	Howell, MI	—		2,250		35,250		—		9,707		2,250		44,957		47,207		15,096		2002 ⁽³⁾	⁽²⁾
Jeffersonville	Jeffersonville, OH	—		2,752		111,276		—		4,825		2,752		116,101		118,853		5,928		2011⁽³⁾	⁽²⁾
Kittery I	Kittery, ME	—		1,242		2,961		229		2,357		1,471		5,318		6,789		4,288		1986	⁽²⁾
Kittery II	Kittery, ME	—		1,451		1,835		—		769		1,451		2,604		4,055		2,181		1989	⁽²⁾
Lancaster	Lancaster, PA	—		3,691		19,907		—		17,032		3,691		36,939		40,630		22,342		1994 ⁽³⁾	⁽²⁾
Lincoln City	Lincoln City, OR	—		6,268		28,663		267		8,726		6,535		37,389		43,924		12,532		2003 ⁽³⁾	⁽²⁾
Locust Grove	Locust Grove, GA	—		2,558		11,801		—		26,454		2,558		38,255		40,813		19,366		1994	⁽²⁾
Mebane	Mebane, NC	—		8,821		53,362		—		676		8,821		54,038		62,859		6,914		2010	⁽²⁾
Myrtle Beach Hwy 17	Myrtle Beach, SC	—		—		80,733		—		4,612		—		85,345		85,345		14,165		2009 ⁽³⁾	⁽²⁾
Myrtle Beach Hwy 501	Myrtle Beach, SC	—		10,236		57,094		—		34,708		10,236		91,802		102,038		24,620		2003 ⁽³⁾	⁽²⁾
Nags Head	Nags Head, NC	—		1,853		6,679		—		5,089		1,853		11,768		13,621		6,281		1997 ⁽³⁾	⁽²⁾
Ocean City	Ocean City, MD	18,825		—		16,334		—		5,142		—		21,476		21,476		1,405		2011⁽³⁾	⁽²⁾
Park City	Park City, UT	—		6,900		33,597		343		17,996		7,243		51,593		58,836		15,324		2003 ⁽³⁾	⁽²⁾
Rehoboth Beach	Rehoboth Beach, DE	—		20,600		74,209		1,875		27,218		22,475		101,427		123,902		29,175		2003 ⁽³⁾	⁽²⁾
Riverhead	Riverhead, NY	—		—		36,374		6,152		85,263		6,152		121,637		127,789		66,807		1993	⁽²⁾
San Marcos	San Marcos, TX	—		1,801		9,440		16		46,047		1,817		55,487		57,304		31,573		1993	⁽²⁾



TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES
TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
For the Year Ended December 31, 2012 (in thousands)

Description				Initial cost to Company				Costs Capitalized Subsequent to Acquisition (Improvements)				Gross Amount Carried at Close of Period December 31, 2012 ⁽¹⁾
Outlet Center Name	Location	Encum-brances		Land		Buildings, Improve-ments & Fixtures		Land		Buildings, Improve-ments & Fixtures		Land		Buildings, Improve-ments & Fixtures		Total		Accumulated Depreciation		Date of Construction	^{Life Used to} ^Compute ^Depreciation ^{in Income} ^Statement
Sanibel	Sanibel, FL	—		4,916		23,196		—		12,463		4,916		35,659		40,575		17,368		1998 ⁽³⁾	⁽²⁾
Sevierville	Sevierville, TN	—		—		18,495		—		36,563		—		55,058		55,058		26,788		1997 ⁽³⁾	⁽²⁾
Seymour	Seymour, IN	—		200		—		—		—		200		—		200		—		1994	⁽²⁾
Terrell	Terrell, TX	—		523		13,432		—		8,455		523		21,887		22,410		15,944		1994	⁽²⁾
Tilton	Tilton, NH	—		1,800		24,838		29		9,293		1,829		34,131		35,960		11,202		2003 ⁽³⁾	⁽²⁾
Tuscola	Tuscola, IL	—		1,600		15,428		43		3,722		1,643		19,150		20,793		6,433		2003 ⁽³⁾	⁽²⁾
Washington	Washington, PA	—		5,528		91,288		3		10,201		5,531		101,489		107,020		24,184		2008	⁽²⁾
West Branch	West Branch, MI	—		319		3,428		120		9,221		439		12,649		13,088		8,280		1991	⁽²⁾
Westbrook	Westbrook, CT	—		6,264		26,991		4,233		5,532		10,497		32,523		43,020		10,337		2003 ⁽³⁾	⁽²⁾
Williamsburg	Williamsburg, IA	—		706		6,781		716		16,198		1,422		22,979		24,401		17,075		1991	⁽²⁾
		$	107,745	$	132,178	$	1,206,459	$	15,824	$	592,891	$	148,002	$	1,799,350	$	1,947,352	$	582,859


(1)	Aggregate cost for federal income tax purposes is approximately $2.0 billion.


(2)	We generally use estimated lives of 33 years for buildings and 15 years for land improvements. Tenant finishing allowances are depreciated over the initial

lease term. Building, improvements & fixtures includes amounts included in construction in progress on the consolidated balance sheet.


(3)	Represents year acquired.

TANGER FACTORY OUTLET CENTERS, INC. and SUBSIDIARIES

TANGER PROPERTIES LIMITED PARTNERSHIP and SUBSIDIARIES

SCHEDULE III - (Continued)

REAL ESTATE AND ACCUMULATED DEPRECIATION

For the Year Ended December 31, 2012

(in thousands)

The changes in total real estate for the three years ended December 31, 2012 are as follows:



	2012			2011			2010
Balance, beginning of year	$	1,916,045		$	1,576,214		$	1,507,870
Acquisitions	—			304,572			—
Improvements	34,633			42,161			95,185
Impairment charge	—			—			(846		)
Dispositions and assets held for sale	(3,326		)	(6,902		)	(25,995		)
Balance, end of year	$	1,947,352		$	1,916,045		$	1,576,214

The changes in accumulated depreciation for the three years ended December 31, 2012 are as follows:



	2012			2011			2010
Balance, beginning of year	$	512,485		$	453,145		$	412,530
Depreciation for the period	73,700			66,242			64,543
Impairment charge	—			—			—
Dispositions and assets held for sale	(3,326		)	(6,902		)	(23,928		)
Balance, end of year	$	582,859		$	512,485		$	453,145

- Definition

The entire disclosure for real estate and accumulated depreciation. This may include a schedule that describes the property and lists the initial cost of land, buildings and improvements, improvements and carrying costs capitalized after acquisition, and the total carrying cost for land, buildings and improvements for each property and in aggregate. The schedule also lists the accumulated depreciation for each property and in aggregate, the date each property was constructed and acquired, the useful life used to calculate depreciation and any encumbrances on the properties. The entity provides a reconciliation of the carrying amount of real estate from the beginning of the period to the end of the period. Any real estate investments that have been written down or reserved against are described, including the basis of the write-down. A material amount of intercompany profit in the total carrying amount of real estate is disclosed. The aggregate cost of all real estate investments for federal income tax purposes is also disclosed.

+ References + Details