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

Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Tanger Factory Outlet Centers, Inc [Member]
OPERATING ACTIVITIES
Net income	$ 36,386	$ 15,440
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	23,989	26,063
Amortization of deferred financing costs	599	553
Abandoned pre-development costs	0	1,596
Gain on sale of assets and interests in unconsolidated entities	(13,726)	0
Equity in earnings of unconsolidated joint ventures	(2,543)	(1,933)
Share-based compensation expense	3,613	3,366
Amortization of debt (premiums) and discounts, net	14	(89)
Net amortization (accretion) of market rent rate adjustments	916	669
Straight-line rent adjustments	(1,269)	(1,838)
Distributions of cumulative earnings from unconsolidated joint ventures	2,719	1,363
Changes in other assets and liabilities:
Other assets	1,885	587
Accounts payable and accrued expenses	1,806	(3,275)
Net cash provided by operating activities	54,389	42,502
INVESTING ACTIVITIES
Additions to rental property	(51,044)	(13,269)
Additions to investments in and notes receivable from unconsolidated joint ventures	(16,419)	(33,679)
Net proceeds on sale of interests in unconsolidated entities	15,495	0
Proceeds from insurance reimbursements	103	0
Additions to non-real estate assets	(208)	(705)
Distributions in excess of cumulative earnings from unconsolidated joint ventures	4,837	1,320
Additions to deferred lease costs	(2,338)	(1,874)
Net cash used in investing activities	(49,574)	(48,207)
FINANCING ACTIVITIES
Cash dividends paid	(22,957)	(21,459)
Distributions to noncontrolling interests in Operating Partnership	(1,219)	(1,158)
Proceeds from debt issuances	118,341	133,100
Repayments of debt	(99,742)	(103,291)
Employee income taxes paid related to shares withheld upon vesting of equity awards	(1,084)	0
Distributions to noncontrolling interests in other consolidated partnerships	(29)	(26)
Additions to deferred financing costs	(191)	(43)
Proceeds from exercise of options	233	261
Net cash provided by (used in) financing activities	(6,648)	7,384
Effect of foreign currency rate changes on cash and cash equivalents	(381)	(14)
Net increase (decrease) in cash and cash equivalents	(2,214)	1,665
Cash and cash equivalents, beginning of period	16,875	15,241
Cash and cash equivalents, end of period	14,661	16,906
Tanger Properties Limited Partnership [Member]
OPERATING ACTIVITIES
Net income	36,386	15,440
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	23,989	26,063
Amortization of deferred financing costs	599	553
Abandoned pre-development costs	0	1,596
Gain on sale of assets and interests in unconsolidated entities	(13,726)	0
Equity in earnings of unconsolidated joint ventures	(2,543)	(1,933)
Share-based compensation expense	3,613	3,366
Amortization of debt (premiums) and discounts, net	14	(89)
Net amortization (accretion) of market rent rate adjustments	916	669
Straight-line rent adjustments	(1,269)	(1,838)
Distributions of cumulative earnings from unconsolidated joint ventures	2,719	1,363
Changes in other assets and liabilities:
Other assets	1,828	840
Accounts payable and accrued expenses	2,854	(3,330)
Net cash provided by operating activities	55,380	42,700
INVESTING ACTIVITIES
Additions to rental property	(51,044)	(13,269)
Additions to investments in and notes receivable from unconsolidated joint ventures	(16,419)	(33,679)
Net proceeds on sale of interests in unconsolidated entities	15,495	0
Proceeds from insurance reimbursements	103	0
Additions to non-real estate assets	(208)	(705)
Distributions in excess of cumulative earnings from unconsolidated joint ventures	4,837	1,320
Additions to deferred lease costs	(2,338)	(1,874)
Net cash used in investing activities	(49,574)	(48,207)
FINANCING ACTIVITIES
Cash dividends paid	(24,176)	(22,617)
Proceeds from debt issuances	118,341	133,100
Repayments of debt	(99,742)	(103,291)
Employee income taxes paid related to shares withheld upon vesting of equity awards	(1,084)	0
Distributions to noncontrolling interests in other consolidated partnerships	(29)	(26)
Additions to deferred financing costs	(191)	(43)
Proceeds from exercise of options	233	261
Net cash provided by (used in) financing activities	(6,648)	7,384
Effect of foreign currency rate changes on cash and cash equivalents	(381)	(14)
Net increase (decrease) in cash and cash equivalents	(1,223)	1,863
Cash and cash equivalents, beginning of period	15,806	14,984
Cash and cash equivalents, end of period	$ 14,583	$ 16,847