Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Tanger Factory Outlet Centers, Inc [Member]
      
REVENUES      
Base rentals $ 253,402 $ 235,233 $ 207,637
Percentage rentals 11,251 11,172 9,084
Expense reimbursements 109,654 101,110 89,620
Other income 10,702 9,482 8,882
Total revenues 385,009 356,997 315,223
EXPENSES      
Property operating 121,046 111,160 100,246
General and administrative 39,119 37,452 30,132
Acquisition costs 1,203 117 2,736
Abandoned development costs 0 0 158
Depreciation and amortization 95,746 98,683 84,015
Total expenses 257,114 247,412 217,287
Operating income 127,895 109,585 97,936
Interest expense (51,616) (49,814) (45,382)
Gain on previously held interest in acquired joint venture 26,002 0 0
Income before equity in earnings (losses) of unconsolidated joint ventures 102,281 59,771 52,554
Equity in earnings (losses) of unconsolidated joint ventures 11,040 (3,295) (1,565)
Net income (loss) 113,321 56,476 50,989
Noncontrolling interests in Operating Partnership (5,643) (3,267) (6,356)
Noncontrolling interests in other consolidated partnerships (121) 19 8
Net income attributable to Tanger Factory Outlet Centers, Inc. 107,557 53,228 44,641
Basic earnings per common share      
Net income (in dollars per share) $ 1.14 $ 0.57 $ 0.53
Diluted earnings per common share      
Net income (in dollars per share) $ 1.13 $ 0.57 $ 0.52
Tanger Properties Limited Partnership [Member]
      
REVENUES      
Base rentals 253,402 235,233 207,637
Percentage rentals 11,251 11,172 9,084
Expense reimbursements 109,654 101,110 89,620
Other income 10,702 9,482 8,882
Total revenues 385,009 356,997 315,223
EXPENSES      
Property operating 121,046 111,160 100,246
General and administrative 39,119 37,452 30,132
Acquisition costs 1,203 117 2,736
Abandoned development costs 0 0 158
Depreciation and amortization 95,746 98,683 84,015
Total expenses 257,114 247,412 217,287
Operating income 127,895 109,585 97,936
Interest expense (51,616) (49,814) (45,382)
Gain on previously held interest in acquired joint venture 26,002 0 0
Income before equity in earnings (losses) of unconsolidated joint ventures 102,281 59,771 52,554
Equity in earnings (losses) of unconsolidated joint ventures 11,040 (3,295) (1,565)
Net income (loss) 113,321 56,476 50,989
Noncontrolling interests in consolidated partnerships 121 (19) (8)
Net income available to partners 113,200 56,495 50,997
Net income available to limited partners 112,047 55,917 50,473
Net income available to general partner $ 1,153 $ 578 $ 524
Basic earnings per common unit      
Net income (in dollars per share) $ 1.14 $ 0.57 $ 0.53
Diluted earnings per common unit      
Net income (in dollars per share) $ 1.13 $ 0.57 $ 0.52