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 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Expenses        
Casualty gain $ 329      
Tanger Factory Outlet Centers, Inc [Member]
       
Revenues        
Base rentals 69,612 64,301 204,748 184,591
Percentage rentals 2,634 3,084 6,632 6,956
Expense reimbursements 29,463 27,414 90,457 78,544
Other income 3,588 3,104 8,578 7,516
Total revenues 105,297 97,903 310,415 277,607
Expenses        
Property operating 32,798 29,863 102,454 86,819
General and administrative 11,334 9,754 32,817 29,240
Acquisition costs 0 532 7 963
Abandoned pre-development costs 0 0 1,596 0
Depreciation and amortization 25,774 24,223 77,034 68,683
Total expenses 69,906 64,372 213,908 185,705
Operating income 35,391 33,531 96,507 91,902
Interest expense (13,902) (12,367) (43,404) (37,826)
Casualty gain 329 0 329 0
Gain on previously held interest in acquired joint venture 0 26,002 0 26,002
Income before equity in earnings of unconsolidated joint ventures 21,818 47,166 53,432 80,078
Equity in earnings of unconsolidated joint ventures 2,479 9,014 6,200 10,107
Net income 24,297 56,180 59,632 90,185
Noncontrolling interests in Operating Partnership (1,252) (2,787) (3,083) (4,435)
Noncontrolling interests in other consolidated partnerships (42) (99) (80) (129)
Net income attributable to Tanger Factory Outlet Centers, Inc. 23,003 53,294 56,469 85,621
Basic earnings per common share/unit        
Net income (in dollars per share) $ 0.24 $ 0.56 $ 0.59 $ 0.91
Diluted earnings per common share/unit        
Net income (in dollars per share) $ 0.24 $ 0.56 $ 0.59 $ 0.90
Dividends paid per common share (in dollars per share) $ 0.240 $ 0.225 $ 0.705 $ 0.660
Tanger Properties Limited Partnership [Member]
       
Revenues        
Base rentals 69,612 64,301 204,748 184,591
Percentage rentals 2,634 3,084 6,632 6,956
Expense reimbursements 29,463 27,414 90,457 78,544
Other income 3,588 3,104 8,578 7,516
Total revenues 105,297 97,903 310,415 277,607
Expenses        
Property operating 32,798 29,863 102,454 86,819
General and administrative 11,334 9,754 32,817 29,240
Acquisition costs 0 532 7 963
Abandoned pre-development costs 0 0 1,596 0
Depreciation and amortization 25,774 24,223 77,034 68,683
Total expenses 69,906 64,372 213,908 185,705
Operating income 35,391 33,531 96,507 91,902
Interest expense (13,902) (12,367) (43,404) (37,826)
Casualty gain 329 0 329 0
Gain on previously held interest in acquired joint venture 0 26,002 0 26,002
Income before equity in earnings of unconsolidated joint ventures 21,818 47,166 53,432 80,078
Equity in earnings of unconsolidated joint ventures 2,479 9,014 6,200 10,107
Net income 24,297 56,180 59,632 90,185
Noncontrolling interests in consolidated partnerships (42) (99) (80) (129)
Net income attributable to Tanger Factory Outlet Centers, Inc. 24,255 56,081 59,552 90,056
Net income available to limited partners 24,012 55,510 58,952 89,138
Net income available to general partner $ 243 $ 571 $ 600 $ 918
Basic earnings per common share/unit        
Net income (in dollars per share) $ 0.24 $ 0.56 $ 0.59 $ 0.91
Diluted earnings per common share/unit        
Net income (in dollars per share) $ 0.24 $ 0.56 $ 0.59 $ 0.90
Distribution paid per common unit (in dollars per share) $ 0.240 $ 0.225 $ 0.705 $ 0.660