Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Tanger Factory Outlet Centers, Inc [Member]
        
Revenues        
Base rentals $ 68,160 $ 61,046 $ 135,136 $ 120,290
Percentage rentals 1,915 1,855 3,998 3,872
Expense reimbursements 29,452 25,824 60,994 51,130
Other income 2,749 2,290 4,990 4,412
Total revenues 102,276 91,015 205,118 179,704
Expenses        
Property operating 33,629 28,821 69,656 56,956
General and administrative 10,761 9,914 21,483 19,486
Acquisition costs 0 252 7 431
Abandoned pre-development costs 0 0 1,596 0
Depreciation and amortization 25,197 22,172 51,260 44,460
Total expenses 69,587 61,159 144,002 121,333
Operating income 32,689 29,856 61,116 58,371
Interest expense (14,582) (12,583) (29,502) (25,459)
Income before equity in earnings of unconsolidated joint ventures 18,107 17,273 31,614 32,912
Equity in earnings of unconsolidated joint ventures 1,788 503 3,721 1,093
Net income 19,895 17,776 35,335 34,005
Noncontrolling interests in Operating Partnership (1,028) (859) (1,831) (1,648)
Noncontrolling interests in other consolidated partnerships (17) (29) (38) (30)
Net income attributable to Tanger Factory Outlet Centers, Inc. 18,850 16,888 33,466 32,327
Basic earnings per common share        
Net income (in dollars per share) $ 0.20 $ 0.18 $ 0.35 $ 0.34
Diluted earnings per common share        
Net income (in dollars per share) $ 0.20 $ 0.18 $ 0.35 $ 0.34
Dividends paid per common share (in dollars per share) $ 0.24 $ 0.225 $ 0.465 $ 0.435
Tanger Properties Limited Partnership [Member]
        
Revenues        
Base rentals 68,160 61,046 135,136 120,290
Percentage rentals 1,915 1,855 3,998 3,872
Expense reimbursements 29,452 25,824 60,994 51,130
Other income 2,749 2,290 4,990 4,412
Total revenues 102,276 91,015 205,118 179,704
Expenses        
Property operating 33,629 28,821 69,656 56,956
General and administrative 10,761 9,914 21,483 19,486
Acquisition costs 0 252 7 431
Abandoned pre-development costs 0 0 1,596 0
Depreciation and amortization 25,197 22,172 51,260 44,460
Total expenses 69,587 61,159 144,002 121,333
Operating income 32,689 29,856 61,116 58,371
Interest expense (14,582) (12,583) (29,502) (25,459)
Income before equity in earnings of unconsolidated joint ventures 18,107 17,273 31,614 32,912
Equity in earnings of unconsolidated joint ventures 1,788 503 3,721 1,093
Net income 19,895 17,776 35,335 34,005
Noncontrolling interests in consolidated partnerships (17) (29) (38) (30)
Net income attributable to Tanger Factory Outlet Centers, Inc. 19,878 17,747 35,297 33,975
Net income available to limited partners (19,677) (17,566) (34,940) (33,628)
Net income available to general partner $ 201 $ 181 $ 357 $ 347
Basic earnings per common unit:        
Net income (in dollars per share) $ 0.20 $ 0.18 $ 0.35 $ 0.34
Diluted earnings per common unit:        
Net income (in dollars per share) $ 0.20 $ 0.18 $ 0.35 $ 0.34
Distribution paid per common unit (in dollars per share) $ 0.24 $ 0.225 $ 0.465 $ 0.435