The following table sets forth a reconciliation of the numerators and denominators in computing earnings per share for the years ended December 31, 2012, 2011 and 2010 (in thousands, except per share amounts). Note that per share amounts reflect a two-for-one split of the Company's common shares in January 2011.
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2012 |
|
2011 |
|
2010 |
NUMERATOR |
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|
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|
Income from continuing operations attributable to Tanger Factory Outlet Centers, Inc. |
|
$ |
53,228 |
|
|
$ |
44,641 |
|
|
$ |
34,334 |
|
Applicable preferred share dividends |
|
— |
|
|
— |
|
|
(5,297 |
) |
Original issuance costs related to redeemed preferred shares |
|
— |
|
|
— |
|
|
(2,539 |
) |
Allocation of earnings to participating securities |
|
(784 |
) |
|
(684 |
) |
|
(598 |
) |
Income from continuing operations available to common shareholders of Tanger Factory Outlet Centers, Inc. |
|
52,444 |
|
|
43,957 |
|
|
25,900 |
|
Discontinued operations attributable to participating securities |
|
— |
|
|
— |
|
|
— |
|
Discontinued operations attributable to Tanger Factory Outlet Centers, Inc. |
|
— |
|
|
— |
|
|
(85 |
) |
Net income available to common shareholders of Tanger Factory Outlet Centers, Inc. |
|
$ |
52,444 |
|
|
$ |
43,957 |
|
|
$ |
25,815 |
|
DENOMINATOR |
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|
|
|
|
|
Basic weighted average common shares |
|
91,733 |
|
|
83,000 |
|
|
80,187 |
|
Effect of notional units |
|
846 |
|
|
965 |
|
|
— |
|
Effect of exchangeable notes |
|
— |
|
|
93 |
|
|
112 |
|
Effect of outstanding options |
|
82 |
|
|
71 |
|
|
91 |
|
Diluted weighted average common shares |
|
92,661 |
|
|
84,129 |
|
|
80,390 |
|
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Basic earnings per common share: |
|
|
|
|
|
|
Income from continuing operations |
|
$ |
0.57 |
|
|
$ |
0.53 |
|
|
$ |
0.32 |
|
Discontinued operations |
|
— |
|
|
— |
|
|
— |
|
Net income |
|
$ |
0.57 |
|
|
$ |
0.53 |
|
|
$ |
0.32 |
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Diluted earnings per common share: |
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|
|
|
|
|
Income from continuing operations |
|
$ |
0.57 |
|
|
$ |
0.52 |
|
|
$ |
0.32 |
|
Discontinued operations |
|
— |
|
|
— |
|
|
— |
|
Net income |
|
$ |
0.57 |
|
|
$ |
0.52 |
|
|
$ |
0.32 |
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