Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Data of the Company (Unaudited) (Tables)

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Quarterly Financial Data of the Company (Unaudited) (Tables)
12 Months Ended
Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]  
Schedule of Quarterly Financial Information
The following table sets forth the Company's summarized quarterly financial information for the years ended December 31, 2015 and 2014 (unaudited and in thousands, except per common share data)(1). This information is not required for the Operating Partnership:
 
 
Year Ended December 31, 2015 (1)
 
 
First Quarter
 
Second Quarter(2)
 
Third Quarter(3)
 
Fourth
 Quarter(4)
Total revenues
 
$
105,926

 
$
107,736

 
$
112,906

 
$
112,801

Operating income
 
32,900

 
36,894

 
36,376

 
38,291

Net income
 
36,386

 
25,359

 
46,460

 
113,963

Income attributable to Tanger Factory Outlet Centers, Inc.
 
34,512

 
24,481

 
44,075

 
108,132

Income available to common shareholders of Tanger Factory Outlet Centers, Inc.
 
34,104

 
24,173

 
43,581

 
106,934

 
 
 
 
 
 
 
 
 
Basic earnings per common share:
 
 
 
 
 
 
 
 
Net income
 
$
0.36

 
$
0.26

 
$
0.46

 
$
1.13

 
 

 

 

 

Diluted earnings per common share:
 
 
 
 
 
 
 
 
Net income
 
$
0.36

 
$
0.26

 
$
0.46

 
$
1.13

(1)
Quarterly amounts may not add to annual amounts due to the effect of rounding on a quarterly basis.
(2)
In the first quarter of 2015, net income includes a gain of $13.7 million, on the sale of our equity interest in the unconsolidated joint venture that owned the Wisconsin Dells outlet center.
(3)
In the third quarter of 2015, net income includes a gain of $20.2 million on the sale of our Kittery I and II, Tuscola, and West Branch outlet centers.
(4)
In the fourth quarter of 2015, net income includes a gain of $86.5 million on the sale of our Barstow outlet center.


 
 
Year Ended December 31, 2014 (1)
 
 
First Quarter
 
Second Quarter
 
Third Quarter
 
Fourth Quarter (2)
Total revenues
 
$
102,783

 
$
102,212

 
$
105,189

 
$
108,374

Operating income
 
28,368

 
32,625

 
35,283

 
35,587

Net income
 
15,440

 
19,895

 
24,297

 
18,520

Income attributable to Tanger Factory Outlet Centers, Inc.
 
14,616

 
18,850

 
23,003

 
17,542

Income available to common shareholders of Tanger Factory Outlet Centers, Inc.
 
14,187

 
18,369

 
22,522

 
17,061

 
 
 
 
 
 
 
 
 
Basic earnings per common share :
 
 
 
 
 
 
 
 
Net income
 
$
0.15

 
$
0.20

 
$
0.24

 
$
0.18

 
 
 
 
 
 
 
 
 
Diluted earnings per common share:
 
 
 
 
 
 
 
 
Net income
 
$
0.15

 
$
0.20

 
$
0.24

 
$
0.18


(1)
Quarterly amounts may not add to annual amounts due to the effect of rounding on a quarterly basis.
(2)
For the fourth quarter, net income includes a $7.5 million gain on the sale of our Lincoln City outlet center and a $13.1 million loss on early extinguishment of debt related to the early redemption of senior notes due November 2015.