Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:      
Management, leasing and other services $ 3,847 $ 5,426 $ 3,591
Tanger Factory Outlet Centers, Inc [Member]      
Revenues:      
Base rentals 308,353 289,688 274,480
Percentage rentals 11,221 10,157 10,307
Expense reimbursements 133,818 126,468 122,532
Management, leasing and other services 3,847 5,426 3,591
Other income 8,595 7,630 7,648
Total revenues 465,834 439,369 418,558
Expenses:      
Property operating 152,017 146,503 137,422
General and administrative 46,696 44,469 44,469
Acquisition costs 487 0 7
Abandoned pre-development costs 0 0 2,365
Depreciation and amortization 115,357 103,936 102,432
Total expenses 314,557 294,908 286,695
Operating income 151,277 144,461 131,863
Other income (expense):      
Interest expense (60,669) (54,188) (57,931)
Loss on early extinguishment of debt 0 0 (13,140)
Gain on sale of assets and interests in unconsolidated entities 6,305 120,447 7,513
Gain on previously held interest in acquired joint ventures 95,516 0 0
Other non-operating income (expense) 1,028 (36) 794
Income before equity in earnings of unconsolidated joint ventures 193,457 210,684 69,099
Equity in earnings of unconsolidated joint ventures 10,872 11,484 9,053
Net income 204,329 222,168 78,152
Noncontrolling interests in Operating Partnership (10,287) (11,331) (4,037)
Noncontrolling interests in other consolidated partnerships (298) 363 (104)
Net income attributable to Tanger Factory Outlet Centers, Inc. $ 193,744 $ 211,200 $ 74,011
Basic earnings per common share:      
Net income (in dollars per share) $ 2.02 $ 2.20 $ 0.77
Diluted earnings per common share:      
Net income (in dollars per share) $ 2.01 $ 2.20 $ 0.77
Tanger Properties Limited Partnership [Member]      
Revenues:      
Base rentals $ 308,353 $ 289,688 $ 274,480
Percentage rentals 11,221 10,157 10,307
Expense reimbursements 133,818 126,468 122,532
Management, leasing and other services 3,847 5,426 3,591
Other income 8,595 7,630 7,648
Total revenues 465,834 439,369 418,558
Expenses:      
Property operating 152,017 146,503 137,422
General and administrative 46,696 44,469 44,469
Acquisition costs 487 0 7
Abandoned pre-development costs 0 0 2,365
Depreciation and amortization 115,357 103,936 102,432
Total expenses 314,557 294,908 286,695
Operating income 151,277 144,461 131,863
Other income (expense):      
Interest expense (60,669) (54,188) (57,931)
Loss on early extinguishment of debt 0 0 (13,140)
Gain on sale of assets and interests in unconsolidated entities 6,305 120,447 7,513
Gain on previously held interest in acquired joint ventures 95,516 0 0
Other non-operating income (expense) 1,028 (36) 794
Income before equity in earnings of unconsolidated joint ventures 193,457 210,684 69,099
Equity in earnings of unconsolidated joint ventures 10,872 11,484 9,053
Net income 204,329 222,168 78,152
Noncontrolling interests in consolidated partnerships (298) 363 (104)
Net income available to partners 204,031 222,531 78,048
Net income available to limited partners 202,012 220,328 77,263
Net income available to general partner $ 2,019 $ 2,203 $ 785
Basic earnings per common share:      
Net income (in dollars per share) $ 2.02 $ 2.21 $ 0.77
Diluted earnings per common share:      
Net income (in dollars per share) $ 2.01 $ 2.20 $ 0.77