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
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Management, leasing and other services $ 1,727 $ 758 $ 3,010 $ 1,324
Tanger Factory Outlet Centers, Inc [Member]        
Revenues        
Base rentals 72,329 68,160 139,958 135,136
Percentage rentals 2,042 1,915 4,271 3,998
Expense reimbursements 29,909 29,452 63,273 60,994
Management, leasing and other services 1,727 758 3,010 1,324
Other income 1,729 1,927 3,150 3,543
Total revenues 107,736 102,212 213,662 204,995
Expenses        
Property operating 34,958 33,629 72,690 69,656
General and administrative 11,612 10,761 22,917 21,483
Acquisition costs 0 0 0 7
Abandoned pre-development costs 0 0 0 1,596
Depreciation and amortization 24,272 25,197 48,261 51,260
Total expenses 70,842 69,587 143,868 144,002
Operating income 36,894 32,625 69,794 60,993
Other income/(expense)        
Interest expense (13,088) (14,582) (26,177) (29,502)
Gain on sale of assets and interests in unconsolidated entities 0 0 13,726 0
Other nonoperating income (expense) (493) 64 (187) 123
Income before equity in earnings of unconsolidated joint ventures 23,313 18,107 57,156 31,614
Equity in earnings of unconsolidated joint ventures 2,046 1,788 4,589 3,721
Net income 25,359 19,895 61,745 35,335
Noncontrolling interests in Operating Partnership (1,313) (1,028) (3,168) (1,831)
Noncontrolling interests in other consolidated partnerships 435 (17) 416 (38)
Net income attributable to Tanger Factory Outlet Centers, Inc. $ 24,481 $ 18,850 $ 58,993 $ 33,466
Basic earnings per common share/unit        
Net income (in dollars per share) $ 0.26 $ 0.20 $ 0.62 $ 0.35
Diluted earnings per common share/unit        
Net income (in dollars per share) 0.26 0.20 0.62 0.35
Dividends paid per common share (in dollars per share) $ 0.285 $ 0.240 $ 0.525 $ 0.465
Tanger Properties Limited Partnership [Member]        
Revenues        
Base rentals $ 72,329 $ 68,160 $ 139,958 $ 135,136
Percentage rentals 2,042 1,915 4,271 3,998
Expense reimbursements 29,909 29,452 63,273 60,994
Management, leasing and other services 1,727 758 3,010 1,324
Other income 1,729 1,927 3,150 3,543
Total revenues 107,736 102,212 213,662 204,995
Expenses        
Property operating 34,958 33,629 72,690 69,656
General and administrative 11,612 10,761 22,917 21,483
Acquisition costs 0 0 0 7
Abandoned pre-development costs 0 0 0 1,596
Depreciation and amortization 24,272 25,197 48,261 51,260
Total expenses 70,842 69,587 143,868 144,002
Operating income 36,894 32,625 69,794 60,993
Other income/(expense)        
Interest expense (13,088) (14,582) (26,177) (29,502)
Gain on sale of assets and interests in unconsolidated entities 0 0 13,726 0
Other nonoperating income (expense) (493) 64 (187) 123
Income before equity in earnings of unconsolidated joint ventures 23,313 18,107 57,156 31,614
Equity in earnings of unconsolidated joint ventures 2,046 1,788 4,589 3,721
Net income 25,359 19,895 61,745 35,335
Noncontrolling interests in consolidated partnerships 435 (17) 416 (38)
Net income attributable to Tanger Factory Outlet Centers, Inc. 25,794 19,878 62,161 35,297
Net income available to limited partners 25,539 19,677 61,546 34,940
Net income available to general partner $ 255 $ 201 $ 615 $ 357
Basic earnings per common share/unit        
Net income (in dollars per share) $ 0.26 $ 0.20 $ 0.62 $ 0.35
Diluted earnings per common share/unit        
Net income (in dollars per share) 0.26 0.20 0.62 0.35
Distribution paid per common unit (in dollars per share) $ 0.285 $ 0.240 $ 0.525 $ 0.465