Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.3.1.900
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues      
Management, leasing and other services $ 5,426 $ 3,591 $ 3,080
Tanger Factory Outlet Centers, Inc [Member]      
Revenues      
Base rentals 289,688 274,480 253,402
Percentage rentals 10,157 10,307 11,251
Expense reimbursements 126,468 122,532 109,654
Management, leasing and other services 5,426 3,591 3,080
Other income 7,630 7,648 7,432
Total revenues 439,369 418,558 384,819
Expenses      
Property operating 146,503 137,422 121,046
General and administrative 44,469 44,469 39,119
Acquisition costs 0 7 1,203
Abandoned pre-development costs 0 2,365 0
Depreciation and amortization 103,936 102,432 95,746
Total expenses 294,908 286,695 257,114
Operating income 144,461 131,863 127,705
Other income (expense)      
Interest expense (54,188) (57,931) (51,616)
Loss on early extinguishment of debt 0 (13,140) 0
Gain on sale of assets and interests in unconsolidated entities 120,447 7,513 0
Gain on previously held interest in acquired joint venture 0 0 26,002
Other nonoperating income (expense) (36) 794 190
Income before equity in earnings of unconsolidated joint ventures 210,684 69,099 102,281
Equity in earnings of unconsolidated joint ventures 11,484 9,053 11,040
Net income 222,168 78,152 113,321
Noncontrolling interests in Operating Partnership (11,331) (4,037) (5,643)
Noncontrolling interests in other consolidated partnerships 363 (104) (121)
Net income attributable to Tanger Factory Outlet Centers, Inc. $ 211,200 $ 74,011 $ 107,557
Basic earnings per common share      
Net income (in dollars per share) $ 2.20 $ 0.77 $ 1.14
Diluted earnings per common share      
Net income (in dollars per share) $ 2.20 $ 0.77 $ 1.13
Tanger Properties Limited Partnership [Member]      
Revenues      
Base rentals $ 289,688 $ 274,480 $ 253,402
Percentage rentals 10,157 10,307 11,251
Expense reimbursements 126,468 122,532 109,654
Management, leasing and other services 5,426 3,591 3,080
Other income 7,630 7,648 7,432
Total revenues 439,369 418,558 384,819
Expenses      
Property operating 146,503 137,422 121,046
General and administrative 44,469 44,469 39,119
Acquisition costs 0 7 1,203
Abandoned pre-development costs 0 2,365 0
Depreciation and amortization 103,936 102,432 95,746
Total expenses 294,908 286,695 257,114
Operating income 144,461 131,863 127,705
Other income (expense)      
Interest expense (54,188) (57,931) (51,616)
Loss on early extinguishment of debt 0 (13,140) 0
Gain on sale of assets and interests in unconsolidated entities 120,447 7,513 0
Gain on previously held interest in acquired joint venture 0 0 26,002
Other nonoperating income (expense) (36) 794 190
Income before equity in earnings of unconsolidated joint ventures 210,684 69,099 102,281
Equity in earnings of unconsolidated joint ventures 11,484 9,053 11,040
Net income 222,168 78,152 113,321
Noncontrolling interests in consolidated partnerships 363 (104) (121)
Net income available to partners 222,531 78,048 113,200
Net income available to limited partners 220,328 77,263 112,047
Net income available to general partner $ 2,203 $ 785 $ 1,153
Basic earnings per common share      
Net income (in dollars per share) $ 2.21 $ 0.77 $ 1.14
Diluted earnings per common share      
Net income (in dollars per share) $ 2.20 $ 0.77 $ 1.13