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, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues        
Management, leasing and other services $ 1,332 $ 1,727 $ 2,453 $ 3,010
Tanger Factory Outlet Centers, Inc [Member]        
Revenues        
Base rentals 75,003 72,329 147,626 139,958
Percentage rentals 2,326 2,042 4,476 4,271
Expense reimbursements 30,754 29,909 63,996 63,273
Management, leasing and other services 1,332 1,727 2,453 3,010
Other income 1,918 1,729 3,587 3,150
Total revenues 111,333 107,736 222,138 213,662
Expenses        
Property operating 35,012 34,958 72,886 72,690
General and administrative 11,675 11,612 23,240 22,917
Depreciation and amortization 26,306 24,272 52,873 48,261
Total expenses 72,993 70,842 148,999 143,868
Operating income 38,340 36,894 73,139 69,794
Other income/(expense)        
Interest expense (13,800) (13,088) (28,684) (26,177)
Gain on sale of assets and interests in unconsolidated joint ventures 0 0 4,887 13,726
Gain on previously held interest in acquired joint venture 49,258 0 49,258 0
Other nonoperating income 38 (493) 354 (187)
Income before equity in earnings of unconsolidated joint ventures 73,836 23,313 98,954 57,156
Equity in earnings of unconsolidated joint ventures 3,466 2,046 6,965 4,589
Net income 77,302 25,359 105,919 61,745
Noncontrolling interests in Operating Partnership (3,897) (1,313) (5,341) (3,168)
Noncontrolling interests in other consolidated partnerships 12 435 (11) 416
Net income attributable to Tanger Factory Outlet Centers, Inc. $ 73,417 $ 24,481 $ 100,567 $ 58,993
Basic earnings per common share/unit        
Net income (in dollars per share) $ 0.76 $ 0.26 $ 1.05 $ 0.62
Diluted earnings per common share/unit        
Net income (in dollars per share) 0.76 0.26 1.04 0.62
Dividends declared per commons share (in dollars per share) $ 0.325 $ 0.285 $ 0.61 $ 0.525
Tanger Properties Limited Partnership [Member]        
Revenues        
Base rentals $ 75,003 $ 72,329 $ 147,626 $ 139,958
Percentage rentals 2,326 2,042 4,476 4,271
Expense reimbursements 30,754 29,909 63,996 63,273
Management, leasing and other services 1,332 1,727 2,453 3,010
Other income 1,918 1,729 3,587 3,150
Total revenues 111,333 107,736 222,138 213,662
Expenses        
Property operating 35,012 34,958 72,886 72,690
General and administrative 11,675 11,612 23,240 22,917
Depreciation and amortization 26,306 24,272 52,873 48,261
Total expenses 72,993 70,842 148,999 143,868
Operating income 38,340 36,894 73,139 69,794
Other income/(expense)        
Interest expense (13,800) (13,088) (28,684) (26,177)
Gain on sale of assets and interests in unconsolidated joint ventures 0 0 4,887 13,726
Gain on previously held interest in acquired joint venture 49,258 0 49,258 0
Other nonoperating income 38 (493) 354 (187)
Income before equity in earnings of unconsolidated joint ventures 73,836 23,313 98,954 57,156
Equity in earnings of unconsolidated joint ventures 3,466 2,046 6,965 4,589
Net income 77,302 25,359 105,919 61,745
Noncontrolling interests in consolidated partnerships 12 435 (11) 416
Net income attributable to Tanger Factory Outlet Centers, Inc. 77,314 25,794 105,908 62,161
Net income available to limited partners 76,549 25,539 104,860 61,546
Net income available to general partner $ 765 $ 255 $ 1,048 $ 615
Basic earnings per common share/unit        
Net income (in dollars per share) $ 0.76 $ 0.26 $ 1.05 $ 0.62
Diluted earnings per common share/unit        
Net income (in dollars per share) 0.76 0.26 1.05 0.62
Distribution declared per common unit (in dollars per share) $ 0.325 $ 0.285 $ 0.61 $ 0.525