Annual report pursuant to Section 13 and 15(d)

Schedule III

v2.4.0.8
Schedule III
12 Months Ended
Dec. 31, 2013
SEC Schedule III, 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, 2013 (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 or Acquisition
 
Life Used to
Compute
Depreciation
in Income
Statement
Atlantic City
 
Atlantic City, NJ
 
$
52,626

 
$

$
125,988

 
$

$
2,669

 
$

$
128,657

$
128,657

 
$
11,775

 
2011 (3)
 
(2) 
Barstow
 
Barstow, CA
 

 
3,281

12,533

 

21,447

 
3,281

33,980

37,261

 
17,598

 
1995
 
(2) 
Blowing Rock
 
Blowing Rock, NC
 

 
1,963

9,424

 

5,245

 
1,963

14,669

16,632

 
7,696

 
1997 (3)
 
(2) 
Branson
 
Branson, MO
 

 
4,407

25,040

 
396

14,614

 
4,803

39,654

44,457

 
24,891

 
1994
 
(2) 
Charleston
 
Charleston, SC
 

 
10,353

48,877

 

8,641

 
10,353

57,518

67,871

 
18,936

 
2006
 
(2) 
Commerce II
 
Commerce, GA
 

 
1,262

14,046

 
707

30,378

 
1,969

44,424

46,393

 
26,098

 
1995
 
(2) 
Deer Park
 
Deer Park, NY
 
148,522

 
82,413

173,044

 


 
82,413

173,044

255,457

 
2,426

 
2013 (3)
 
(2) 
Foley
 
Foley, AL
 

 
4,400

82,410

 
693

40,845

 
5,093

123,255

128,348

 
38,757

 
2003 (3)
 
(2) 
Foxwoods
 
Mashantucket, CT
 

 

9,371

 


 

9,371

9,371

 

 
(4) 
 
(4) 
Gonzales
 
Gonzales, LA
 

 
679

15,895

 

35,402

 
679

51,297

51,976

 
23,750

 
1992
 
(2) 
Hershey
 
Hershey, PA
 
30,963

 
3,673

48,186

 

2,048

 
3,673

50,234

53,907

 
4,871

 
2011(3)
 
(2) 
Hilton Head I
 
Bluffton, SC
 

 
4,753


 

31,180

 
4,753

31,180

35,933

 
5,215

 
2011
 
(2) 
Hilton Head II
 
Bluffton, SC
 

 
5,128

20,668

 

8,098

 
5,128

28,766

33,894

 
10,465

 
2003 (3)
 
(2) 
Howell
 
Howell, MI
 

 
2,250

35,250

 

11,029

 
2,250

46,279

48,529

 
16,856

 
2002 (3)
 
(2) 
Jeffersonville
 
Jeffersonville, OH
 

 
2,752

111,276

 

5,866

 
2,752

117,142

119,894

 
10,110

 
2011(3)
 
(2) 
Kittery I
 
Kittery, ME
 

 
1,242

2,961

 
229

2,311

 
1,471

5,272

6,743

 
4,373

 
1986
 
(2) 
Kittery II
 
Kittery, ME
 

 
1,451

1,835

 

874

 
1,451

2,709

4,160

 
2,275

 
1989
 
(2) 
Lancaster
 
Lancaster, PA
 

 
3,691

19,907

 

17,324

 
3,691

37,231

40,922

 
23,361

 
1994 (3)
 
(2) 
Lincoln City
 
Lincoln City, OR
 

 
6,268

28,663

 
267

9,862

 
6,535

38,525

45,060

 
13,937

 
2003 (3)
 
(2) 
Locust Grove
 
Locust Grove, GA
 

 
2,558

11,801

 

26,747

 
2,558

38,548

41,106

 
20,854

 
1994
 
(2) 
Mebane
 
Mebane, NC
 

 
8,821

53,362

 

658

 
8,821

54,020

62,841

 
10,506

 
2010
 
(2) 
Myrtle Beach Hwy 17
 
Myrtle Beach, SC
 

 

80,733

 

5,392

 

86,125

86,125

 
17,531

 
2009 (3)
 
(2) 
Myrtle Beach Hwy 501
 
Myrtle Beach, SC
 

 
10,236

57,094

 

36,083

 
10,236

93,177

103,413

 
28,049

 
2003 (3)
 
(2) 
Nags Head
 
Nags Head, NC
 

 
1,853

6,679

 

5,139

 
1,853

11,818

13,671

 
6,710

 
1997 (3)
 
(2) 
Ocean City
 
Ocean City, MD
 
18,386

 

16,334

 

7,216

 

23,550

23,550

 
2,617

 
2011(3)
 
(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, 2013 (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 
Park City
 
Park City, UT
 

 
6,900

33,597

 
343

18,013

 
7,243

51,610

58,853

 
17,337

 
2003 (3)
 
(2) 
Pittsburgh
 
Pittsburgh, PA
 

 
5,528

91,288

 
3

10,516

 
5,531

101,804

107,335

 
29,859

 
2008
 
(2) 
Rehoboth Beach
 
Rehoboth Beach, DE
 

 
20,600

74,209

 
1,875

28,248

 
22,475

102,457

124,932

 
32,848

 
2003 (3)
 
(2) 
Riverhead
 
Riverhead, NY
 

 

36,374

 
6,152

87,631

 
6,152

124,005

130,157

 
70,559

 
1993
 
(2) 
San Marcos
 
San Marcos, TX
 

 
1,801

9,440

 
16

47,261

 
1,817

56,701

58,518

 
33,721

 
1993
 
(2) 
Sanibel
 
Sanibel, FL
 

 
4,916

23,196

 

12,386

 
4,916

35,582

40,498

 
18,375

 
1998 (3)
 
(2) 
Sevierville
 
Sevierville, TN
 

 

18,495

 

42,911

 

61,406

61,406

 
28,456

 
1997 (3)
 
(2) 
Seymour
 
Seymour, IN
 

 
200


 


 
200


200

 

 
1994
 
(2) 
Terrell
 
Terrell, TX
 

 
523

13,432

 

8,812

 
523

22,244

22,767

 
16,284

 
1994
 
(2) 
Tilton
 
Tilton, NH
 

 
1,800

24,838

 
29

9,227

 
1,829

34,065

35,894

 
12,332

 
2003 (3)
 
(2) 
Tuscola
 
Tuscola, IL
 

 
1,600

15,428

 
43

4,350

 
1,643

19,778

21,421

 
7,171

 
2003 (3)
 
(2) 
West Branch
 
West Branch, MI
 

 
319

3,428

 
120

9,262

 
439

12,690

13,129

 
8,629

 
1991
 
(2) 
Westbrook
 
Westbrook, CT
 

 
6,264

26,991

 
4,233

5,894

 
10,497

32,885

43,382

 
11,643

 
2003 (3)
 
(2) 
Williamsburg
 
Williamsburg, IA
 

 
706

6,781

 
718

16,951

 
1,424

23,732

25,156

 
17,760

 
1991
 
(2) 
 
 
 
 
$
250,497

 
$
214,591

$
1,388,874

 
$
15,824

$
630,530

 
$
230,415

$
2,019,404

$
2,249,819

 
$
654,631

 
 
 
 
(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.
(4)
Under construction.


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, 2013
(in thousands)

The changes in total real estate for the three years ended December 31, 2013 are as follows:

 
 
2013
 
2012
 
2011
Balance, beginning of year
 
$
1,947,352

 
$
1,916,045

 
$
1,576,214

Acquisitions
 
255,107

 

 
304,572

Improvements
 
50,283

 
34,633

 
42,161

Dispositions and assets held for sale
 
(2,923
)
 
(3,326
)
 
(6,902
)
Balance, end of year
 
$
2,249,819

 
$
1,947,352

 
$
1,916,045



The changes in accumulated depreciation for the three years ended December 31, 2013 are as follows:

 
 
2013
 
2012
 
2011
Balance, beginning of year
 
$
582,859

 
$
512,485

 
$
453,145

Depreciation for the period
 
74,695

 
73,700

 
66,242

Dispositions and assets held for sale
 
(2,923
)
 
(3,326
)
 
(6,902
)
Balance, end of year
 
$
654,631

 
$
582,859

 
$
512,485