Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.6.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Tanger Factory Outlet Centers, Inc [Member]      
Operating Activities      
Net income $ 204,329 $ 222,168 $ 78,152
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 115,357 103,936 102,432
Amortization of deferred financing costs 3,237 2,730 2,382
Abandoned pre-development costs 0 0 2,365
Casualty gain 0 0 (486)
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
Equity in earnings of unconsolidated joint ventures (10,872) (11,484) (9,053)
Equity-based compensation expense 15,319 14,712 14,750
Amortization of debt (premiums) and discounts, net 1,290 256 (601)
Net amortization of market rent rate adjustments 3,302 2,461 3,209
Straight-line rent adjustments (7,002) (6,347) (6,073)
Payment of discount on extinguishment of debt 0 0 (913)
Distributions of cumulative earnings from unconsolidated joint ventures 13,662 12,137 9,586
Changes in other asset and liabilities:      
Other assets (544) (798) 4,160
Accounts payable and accrued expenses 3,059 1,431 (3,626)
Net cash provided by operating activities 239,316 220,755 188,771
Investing Activities      
Additions to rental property (165,060) (238,706) (145,896)
Acquisitions of interest in unconsolidated joint ventures, net of cash acquired (45,219) 0 0
Additions to investments in unconsolidated joint ventures (32,968) (45,286) (142,268)
Net proceeds on sale of assets and interests in unconsolidated entities 28,706 164,587 38,993
Change in restricted cash 121,306 (121,306) 0
Proceeds from insurance reimbursements 983 649 1,964
Distributions in excess of cumulative earnings from unconsolidated joint ventures 60,267 26,875 65,336
Additions to non-real estate assets (6,503) (837) (1,053)
Additions to deferred lease costs (7,013) (7,803) (5,664)
Net cash used in investing activities (45,501) (221,827) (188,588)
Financing Activities      
Cash dividends paid (141,088) (104,877) (90,448)
Distributions to noncontrolling interests in Operating Partnership (7,428) (5,561) (4,836)
Proceeds from revolving credit facility 845,650 537,000 657,800
Repayments of revolving credit facility (974,950) (457,700) (563,000)
Proceeds from notes, mortgages and loans 437,420 90,839 273,808
Repayments of notes, mortgages and loans (330,329) (49,783) (252,690)
Repayment of deferred financing obligation (28,388) 0 0
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,177) (1,126) (15,520)
Acquisition of noncontrolling interest in other consolidated partnership (1,942) 0 0
Distributions to noncontrolling interests in other consolidated partnerships (385) (156) (127)
Additions to deferred financing costs (5,496) (2,829) (3,913)
Proceeds from exercise of options 1,749 788 903
Other financing activities 3,897 259 0
Net cash provided (used in) by financing activities (203,467) 6,854 1,977
Effect of foreign currency rate changes on cash and cash equivalents 316 (1,099) (526)
Net increase in cash and cash equivalents (9,336) 4,683 1,634
Cash and cash equivalents, beginning of year 21,558 16,875 15,241
Cash and cash equivalents, end of year 12,222 21,558 16,875
Tanger Properties Limited Partnership [Member]      
Operating Activities      
Net income 204,329 222,168 78,152
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 115,357 103,936 102,432
Amortization of deferred financing costs 3,237 2,730 2,382
Abandoned pre-development costs 0 0 2,365
Casualty gain 0 0 (486)
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
Equity in earnings of unconsolidated joint ventures (10,872) (11,484) (9,053)
Equity-based compensation expense 15,319 14,712 14,750
Amortization of debt (premiums) and discounts, net 1,290 256 (601)
Net amortization of market rent rate adjustments 3,302 2,461 3,209
Straight-line rent adjustments (7,002) (6,347) (6,073)
Payment of discount on extinguishment of debt 0 0 (913)
Distributions of cumulative earnings from unconsolidated joint ventures 13,662 12,137 9,586
Changes in other asset and liabilities:      
Other assets (705) (639) 4,417
Accounts payable and accrued expenses 3,203 2,335 (4,695)
Net cash provided by operating activities 239,299 221,818 187,959
Investing Activities      
Additions to rental property (165,060) (238,706) (145,896)
Acquisitions of interest in unconsolidated joint ventures, net of cash acquired (45,219) 0 0
Additions to investments in unconsolidated joint ventures (32,968) (45,286) (142,268)
Net proceeds on sale of assets and interests in unconsolidated entities 28,706 164,587 38,993
Change in restricted cash 121,306 (121,306) 0
Proceeds from insurance reimbursements 983 649 1,964
Distributions in excess of cumulative earnings from unconsolidated joint ventures 60,267 26,875 65,336
Additions to non-real estate assets (6,503) (837) (1,053)
Additions to deferred lease costs (7,013) (7,803) (5,664)
Net cash used in investing activities (45,501) (221,827) (188,588)
Financing Activities      
Cash dividends paid (148,516) (110,438) (95,284)
Proceeds from revolving credit facility 845,650 537,000 657,800
Repayments of revolving credit facility (974,950) (457,700) (563,000)
Proceeds from notes, mortgages and loans 437,420 90,839 273,808
Repayments of notes, mortgages and loans (330,329) (49,783) (252,690)
Repayment of deferred financing obligation (28,388) 0 0
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,177) (1,126) (15,520)
Acquisition of noncontrolling interest in other consolidated partnership (1,942) 0 0
Distributions to noncontrolling interests in other consolidated partnerships (385) (156) (127)
Additions to deferred financing costs (5,496) (2,829) (3,913)
Proceeds from exercise of options 1,749 788 903
Other financing activities 3,897 259 0
Net cash provided (used in) by financing activities (203,467) 6,854 1,977
Effect of foreign currency rate changes on cash and cash equivalents 316 (1,099) (526)
Net increase in cash and cash equivalents (9,353) 5,746 822
Cash and cash equivalents, beginning of year 21,552 15,806 14,984
Cash and cash equivalents, end of year $ 12,199 $ 21,552 $ 15,806