Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Tanger Factory Outlet Centers, Inc [Member]    
OPERATING ACTIVITIES    
Net income $ 28,617 $ 36,386
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 26,567 23,989
Amortization of deferred financing costs 744 599
Gain on sale of assets and interests in unconsolidated entities (4,887) (13,726)
Equity in earnings of unconsolidated joint ventures (3,499) (2,543)
Share-based compensation expense 4,001 3,613
Amortization of debt (premiums) and discounts, net 959 14
Amortization (accretion) of market rent rate adjustments, net 664 916
Straight-line rent adjustments (1,607) (1,269)
Distributions of cumulative earnings from unconsolidated joint ventures 2,709 2,719
Changes in other assets and liabilities:    
Other assets 732 1,885
Accounts payable and accrued expenses (969) 1,806
Net cash provided by operating activities 54,031 54,389
INVESTING ACTIVITIES    
Additions to rental property (34,896) (51,044)
Additions to investments in unconsolidated joint ventures (12,161) (16,419)
Net proceeds on sale of assets and interests in unconsolidated entities 25,785 15,495
Change in restricted cash 121,306 0
Proceeds from insurance reimbursements 72 103
Additions to non-real estate assets (2,144) (208)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 4,394 4,837
Additions to deferred lease costs (1,520) (2,338)
Net cash provided by (used in) investing activities 100,836 (49,574)
FINANCING ACTIVITIES    
Cash dividends paid (47,447) (22,957)
Distributions to noncontrolling interests in Operating Partnership (2,501) (1,219)
Proceeds from debt issuances 327,342 118,341
Repayments of debt (405,246) (99,742)
Repayment of deferred financing obligation (28,388) 0
Employee income taxes paid related to shares withheld upon vesting of equity awards (1,921) (1,084)
Distributions to noncontrolling interests in other consolidated partnerships (19) (29)
Additions to deferred financing costs (82) (191)
Proceeds from exercise of options 123 233
Net cash used in financing activities (158,139) (6,648)
Effect of foreign currency rate changes on cash and cash equivalents 591 (381)
Net decrease in cash and cash equivalents (2,681) (2,214)
Cash and cash equivalents, beginning of period 21,558 16,875
Cash and cash equivalents, end of period 18,877 14,661
Tanger Properties Limited Partnership [Member]    
OPERATING ACTIVITIES    
Net income 28,617 36,386
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 26,567 23,989
Amortization of deferred financing costs 744 599
Gain on sale of assets and interests in unconsolidated entities (4,887) (13,726)
Equity in earnings of unconsolidated joint ventures (3,499) (2,543)
Share-based compensation expense 4,001 3,613
Amortization of debt (premiums) and discounts, net 959 14
Amortization (accretion) of market rent rate adjustments, net 664 916
Straight-line rent adjustments (1,607) (1,269)
Distributions of cumulative earnings from unconsolidated joint ventures 2,709 2,719
Changes in other assets and liabilities:    
Other assets 301 1,828
Accounts payable and accrued expenses (579) 2,854
Net cash provided by operating activities 53,990 55,380
INVESTING ACTIVITIES    
Additions to rental property (34,896) (51,044)
Additions to investments in unconsolidated joint ventures (12,161) (16,419)
Net proceeds on sale of assets and interests in unconsolidated entities 25,785 15,495
Change in restricted cash 121,306 0
Proceeds from insurance reimbursements 72 103
Additions to non-real estate assets (2,144) (208)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 4,394 4,837
Additions to deferred lease costs (1,520) (2,338)
Net cash provided by (used in) investing activities 100,836 (49,574)
FINANCING ACTIVITIES    
Cash dividends paid (49,948) (24,176)
Proceeds from debt issuances 327,342 118,341
Repayments of debt (405,246) (99,742)
Repayment of deferred financing obligation (28,388) 0
Employee income taxes paid related to shares withheld upon vesting of equity awards (1,921) (1,084)
Distributions to noncontrolling interests in other consolidated partnerships (19) (29)
Additions to deferred financing costs (82) (191)
Proceeds from exercise of options 123 233
Net cash used in financing activities (158,139) (6,648)
Effect of foreign currency rate changes on cash and cash equivalents 591 (381)
Net decrease in cash and cash equivalents (2,722) (1,223)
Cash and cash equivalents, beginning of period 21,552 15,806
Cash and cash equivalents, end of period $ 18,830 $ 14,583