Tanger Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenues
Management, leasing and other services	$ 1,283	$ 566
Tanger Factory Outlet Centers, Inc [Member]
Revenues
Base rentals	67,629	66,976
Percentage rentals	2,229	2,083
Expense reimbursements	33,364	31,542
Management, leasing and other services	1,283	566
Other income	1,421	1,615
Total revenues	105,926	102,782
Expenses
Property operating	37,732	36,027
General and administrative	11,305	10,722
Acquisition costs	0	7
Abandoned pre-development costs	0	1,596
Depreciation and amortization	23,989	26,063
Total expenses	73,026	74,415
Operating income	32,900	28,367
Interest expense	(13,089)	(14,920)
Gain on sale of assets and interests in unconsolidated entities	13,726	0
Interest and other income	306	60
Income before equity in earnings of unconsolidated joint ventures	33,843	13,507
Equity in earnings of unconsolidated joint ventures	2,543	1,933
Net income	36,386	15,440
Noncontrolling interests in Operating Partnership	(1,855)	(803)
Noncontrolling interests in other consolidated partnerships	(19)	(21)
Net income attributable to Tanger Factory Outlet Centers, Inc.	34,512	14,616
Basic earnings per common share/unit
Net income (in dollars per share)	$ 0.36	$ 0.15
Diluted earnings per common share/unit
Net income (in dollars per share)	$ 0.36	$ 0.15
Dividends paid per common share (in dollars per share)	$ 0.240	$ 0.225
Tanger Properties Limited Partnership [Member]
Revenues
Base rentals	67,629	66,976
Percentage rentals	2,229	2,083
Expense reimbursements	33,364	31,542
Management, leasing and other services	1,283	566
Other income	1,421	1,615
Total revenues	105,926	102,782
Expenses
Property operating	37,732	36,027
General and administrative	11,305	10,722
Acquisition costs	0	7
Abandoned pre-development costs	0	1,596
Depreciation and amortization	23,989	26,063
Total expenses	73,026	74,415
Operating income	32,900	28,367
Interest expense	(13,089)	(14,920)
Gain on sale of assets and interests in unconsolidated entities	13,726	0
Interest and other income	306	60
Income before equity in earnings of unconsolidated joint ventures	33,843	13,507
Equity in earnings of unconsolidated joint ventures	2,543	1,933
Net income	36,386	15,440
Noncontrolling interests in consolidated partnerships	(19)	(21)
Net income attributable to Tanger Factory Outlet Centers, Inc.	36,367	15,419
Net income available to limited partners	36,007	15,263
Net income available to general partner	$ 360	$ 156
Basic earnings per common share/unit
Net income (in dollars per share)	$ 0.36	$ 0.15
Diluted earnings per common share/unit
Net income (in dollars per share)	$ 0.36	$ 0.15
Distribution paid per common unit (in dollars per share)	$ 0.240	$ 0.225