Quarterly report pursuant to Section 13 or 15(d)

Partners' Equity of the Operating Partnership

v2.4.0.8
Partners' Equity of the Operating Partnership (Tanger Properties Limited Partnership [Member])
 6 Months Ended
Jun. 30, 2014
Tanger Properties Limited Partnership [Member]
  
Schedule of Partners' Equity of the Operating Partnership [Line Items]  
Partners' Equity of the Operating Partnership
Partners' Equity of the Operating Partnership

All units of partnership interest issued by the Operating Partnership have equal rights with respect to earnings, dividends and net assets. When the Company issues common shares upon the exercise of options, the issuance of restricted share awards or the exchange of Class A common limited partnership units, the Operating Partnership issues a corresponding Class B common limited partnership unit to Tanger LP trust, a wholly owned subsidiary of the Company.

The following table sets forth the changes in outstanding partnership units for the six months ended June 30, 2014 and for the year ended December 31, 2013:
 
 
 
 
Limited Partnership Units
 
 
General Partnership Units
 
Class A
 
Class B
 
Total
Balance December 31, 2012
 
1,000,000

 
4,761,864

 
93,061,384

 
97,823,248

Exchange of Class A limited partnership units
 
—

 
(67,428
)
 
67,428

 
—

Issuance of restricted units
 
—

 
—

 
332,373

 
332,373

Units issued upon exercise of options
 
—

 
—

 
44,500

 
44,500

Units issued as consideration for business acquisition (see Note 3)
 
—

 
450,576

 
—

 
450,576

Balance December 31, 2013
 
1,000,000

 
5,145,012

 
93,505,685

 
98,650,697

Exchange of Class A limited partnership units
 
—

 
(43,331
)
 
43,331

 
—

Issuance of restricted units
 
—

 
—

 
1,302,729

 
1,302,729

Units issued upon exercise of options
 
—

 
—

 
29,900

 
29,900

Balance June 30, 2014
 
1,000,000

 
5,101,681

 
94,881,645

 
99,983,326