Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Tanger Factory Outlet Centers, Inc [Member]    
OPERATING ACTIVITIES    
Net income $ 54,461 $ 105,919
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 64,199 52,873
Amortization of deferred financing costs 1,749 1,505
Gain on sale of assets (6,943) (4,887)
Gain on previously held interest in acquired joint venture 0 (49,258)
Equity in earnings of unconsolidated joint ventures (4,692) (6,965)
Equity-based compensation expense 6,796 7,655
Amortization of debt (premiums) and discounts, net 245 1,075
Amortization (accretion) of market rent rate adjustments, net 1,691 1,303
Straight-line rent adjustments (3,293) (3,321)
Distributions of cumulative earnings from unconsolidated joint ventures 4,952 7,468
Changes in other assets and liabilities:    
Other assets 787 (1,011)
Accounts payable and accrued expenses (9,198) (7,335)
Net cash provided by operating activities 110,754 105,021
INVESTING ACTIVITIES    
Additions to rental property (88,761) (68,582)
Acquisitions of interests in unconsolidated joint ventures, net of cash acquired 0 (34,187)
Additions to investments in unconsolidated joint ventures (3,617) (19,363)
Net proceeds on sale of assets 39,213 25,785
Change in restricted cash 0 121,306
Additions to non-real estate assets (7,959) (2,379)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 6,330 7,874
Additions to deferred lease costs (2,845) (2,919)
Other investing activities 2,591 (1,676)
Net cash provided by (used in) investing activities (55,048) 25,859
FINANCING ACTIVITIES    
Cash dividends paid (65,250) (78,675)
Distributions to noncontrolling interests in Operating Partnership (3,356) (4,144)
Proceeds from revolving credit facility 326,254 509,550
Repayments of revolving credit facility (286,127) (440,650)
Proceeds from notes, mortgages and loans 454 88,165
Repayments of notes, mortgages and loans (1,483) (168,901)
Repayment of deferred financing obligation 0 (28,388)
Repurchase of common shares, including transaction costs (39,354) 0
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,435) (1,921)
Additions to deferred financing costs (50) (1,883)
Proceeds from exercise of options 54 1,041
Other financing activities 11,718 (64)
Net cash used in financing activities (59,575) (125,870)
Effect of foreign currency rate changes on cash and cash equivalents 9 539
Net increase (decrease) in cash and cash equivalents (3,860) 5,549
Cash and cash equivalents, beginning of period 12,222 21,558
Cash and cash equivalents, end of period 8,362 27,107
Tanger Properties Limited Partnership [Member]    
OPERATING ACTIVITIES    
Net income 54,461 105,919
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 64,199 52,873
Amortization of deferred financing costs 1,749 1,505
Gain on sale of assets (6,943) (4,887)
Gain on previously held interest in acquired joint venture 0 (49,258)
Equity in earnings of unconsolidated joint ventures (4,692) (6,965)
Equity-based compensation expense 6,796 7,655
Amortization of debt (premiums) and discounts, net 245 1,075
Amortization (accretion) of market rent rate adjustments, net 1,691 1,303
Straight-line rent adjustments (3,293) (3,321)
Distributions of cumulative earnings from unconsolidated joint ventures 4,952 7,468
Changes in other assets and liabilities:    
Other assets 487 (1,511)
Accounts payable and accrued expenses (8,986) (6,848)
Net cash provided by operating activities 110,666 105,008
INVESTING ACTIVITIES    
Additions to rental property (88,761) (68,582)
Acquisitions of interests in unconsolidated joint ventures, net of cash acquired 0 (34,187)
Additions to investments in unconsolidated joint ventures (3,617) (19,363)
Net proceeds on sale of assets 39,213 25,785
Change in restricted cash 0 121,306
Additions to non-real estate assets (7,959) (2,379)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 6,330 7,874
Additions to deferred lease costs (2,845) (2,919)
Other investing activities 2,591 (1,676)
Net cash provided by (used in) investing activities (55,048) 25,859
FINANCING ACTIVITIES    
Cash dividends paid (68,606) (82,819)
Proceeds from revolving credit facility 326,254 509,550
Repayments of revolving credit facility (286,127) (440,650)
Proceeds from notes, mortgages and loans 454 88,165
Repayments of notes, mortgages and loans (1,483) (168,901)
Repayment of deferred financing obligation 0 (28,388)
Repurchase of common shares, including transaction costs (39,354) 0
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,435) (1,921)
Additions to deferred financing costs (50) (1,883)
Proceeds from exercise of options 54 1,041
Other financing activities 11,718 (64)
Net cash used in financing activities (59,575) (125,870)
Effect of foreign currency rate changes on cash and cash equivalents 9 539
Net increase (decrease) in cash and cash equivalents (3,948) 5,536
Cash and cash equivalents, beginning of period 12,199 21,552
Cash and cash equivalents, end of period $ 8,251 $ 27,088