Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Tanger Factory Outlet Centers, Inc [Member]
      
OPERATING ACTIVITIES:      
Net income $ 113,321 $ 56,476 $ 50,989
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 95,746 98,683 84,015
Amortization of deferred financing costs 2,194 2,313 2,143
Gain on previously held interest in acquired joint venture (26,002) 0 0
Equity in (earnings) losses of unconsolidated joint ventures (11,040) 3,295 1,565
Distributions of cumulative earnings from unconsolidated joint ventures 5,853 1,005 499
Share-based compensation expense 11,376 10,676 7,291
Amortization of debt (premiums) and discounts, net (886) (1,007) (315)
Net amortization (accretion) of market rent rate adjustments 1,141 (348) (454)
Straight-line rent adjustments (5,529) (3,649) (3,829)
Changes in other asset and liabilities:      
Other assets (7,676) (5,557) (9,080)
Accounts payable and accrued expenses 8,988 3,863 3,170
Net cash provided by operating activities 187,486 165,750 135,994
INVESTING ACTIVITIES:      
Additions to rental property (47,436) (41,283) (60,314)
Acquisition of interest in unconsolidated joint venture, net of cash acquired (11,271) 0 0
Acquisition of rental property 0 0 (266,211)
Additions to investments in and notes receivable from unconsolidated joint ventures (150,854) (103,041) (25,314)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 47,149 1,471 701
Additions to non-real estate assets (7,768) 0 0
Additions to deferred lease costs (4,046) (5,056) (10,661)
Net proceeds from sales of real estate 0 0 723
Net cash used in investing activities (174,226) (147,909) (361,076)
FINANCING ACTIVITIES:      
Cash dividends paid (87,211) (76,903) (66,530)
Distributions to noncontrolling interests in Operating Partnership (4,294) (4,931) (9,501)
Proceeds from issuance of common shares 0 0 117,375
Proceeds from debt issuances 785,803 585,800 876,342
Repayments of debt (697,377) (517,271) (687,390)
Acquisition of noncontrolling interests in other consolidated partnerships (525) 0 0
Distributions to noncontrolling interests in other consolidated partnerships (102) 0 0
Additions to deferred financing costs (4,001) (2,591) (3,431)
Proceeds from exercise of options 635 481 353
Net cash provided (used in) by financing activities (7,072) (15,415) 227,218
Effect of foreign currency rate changes on cash and equivalents (1,282) 15 0
Net increase in cash and cash equivalents 4,906 2,441 2,136
Cash and cash equivalents, beginning of year 10,335 7,894 5,758
Cash and cash equivalents, end of year 15,241 10,335 7,894
Tanger Properties Limited Partnership [Member]
      
OPERATING ACTIVITIES:      
Net income 113,321 56,476 50,989
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 95,746 98,683 84,015
Amortization of deferred financing costs 2,194 2,313 2,143
Gain on previously held interest in acquired joint venture (26,002) 0 0
Equity in (earnings) losses of unconsolidated joint ventures (11,040) 3,295 1,565
Distributions of cumulative earnings from unconsolidated joint ventures 5,853 1,005 499
Share-based compensation expense 11,376 10,676 7,291
Amortization of debt (premiums) and discounts, net (886) (1,007) (315)
Net amortization (accretion) of market rent rate adjustments 1,141 (348) (454)
Straight-line rent adjustments (5,529) (3,649) (3,829)
Changes in other asset and liabilities:      
Other assets (7,861) (5,447) (9,127)
Accounts payable and accrued expenses 8,956 3,741 3,276
Net cash provided by operating activities 187,269 165,738 136,053
INVESTING ACTIVITIES:      
Additions to rental property (47,436) (41,283) (60,314)
Acquisition of interest in unconsolidated joint venture, net of cash acquired (11,271) 0 0
Acquisition of rental property 0 0 (266,211)
Additions to investments in and notes receivable from unconsolidated joint ventures (150,854) (103,041) (25,314)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 47,149 1,471 701
Additions to non-real estate assets (7,768) 0 0
Additions to deferred lease costs (4,046) (5,056) (10,661)
Net proceeds from sales of real estate 0 0 723
Net cash used in investing activities (174,226) (147,909) (361,076)
FINANCING ACTIVITIES:      
Cash dividends paid (91,505) (81,834) (76,031)
Contributions from partners 0 0 117,375
Proceeds from debt issuances 810,803 585,800 876,342
Repayments of debt (722,377) (517,271) (687,390)
Acquisition of noncontrolling interests in other consolidated partnerships (525) 0 0
Distributions to noncontrolling interests in other consolidated partnerships (102) 0 0
Additions to deferred financing costs (4,001) (2,591) (3,431)
Proceeds from exercise of options 635 481 353
Net cash provided (used in) by financing activities (7,072) (15,415) 227,218
Effect of foreign currency rate changes on cash and equivalents (1,282) 15 0
Net increase in cash and cash equivalents 4,689 2,429 2,195
Cash and cash equivalents, beginning of year 10,295 7,866 5,671
Cash and cash equivalents, end of year $ 14,984 $ 10,295 $ 7,866