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, 2018
Jun. 30, 2017
Tanger Factory Outlet Centers, Inc. [Member]    
OPERATING ACTIVITIES    
Net income $ 47,975 $ 54,461
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 65,817 64,199
Amortization of deferred financing costs 1,532 1,749
Gain on sale of assets 0 (6,943)
Equity in earnings of unconsolidated joint ventures (4,400) (4,692)
Equity-based compensation expense 7,045 6,796
Amortization of debt (premiums) and discounts, net 204 245
Amortization (accretion) of market rent rate adjustments, net 1,251 1,691
Straight-line rent adjustments (3,294) (3,293)
Distributions of cumulative earnings from unconsolidated joint ventures 4,332 4,952
Changes in other assets and liabilities:    
Other assets 3,738 787
Accounts payable and accrued expenses (8,833) (9,198)
Net cash provided by operating activities 115,367 110,754
INVESTING ACTIVITIES    
Additions to rental property (41,212) (88,761)
Additions to investments in unconsolidated joint ventures (1,497) (3,617)
Net proceeds from sale of assets 0 39,213
Additions to non-real estate assets (1,114) (7,959)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 13,911 6,330
Additions to deferred lease costs (2,821) (2,845)
Other investing activities 4,032 2,591
Net cash used in investing activities (28,701) (55,048)
FINANCING ACTIVITIES    
Cash dividends paid (65,448) (65,250)
Distributions to noncontrolling interests in Operating Partnership (3,459) (3,356)
Proceeds from revolving credit facility 295,600 326,254
Repayments of revolving credit facility (280,000) (286,127)
Proceeds from notes, mortgages and loans 0 454
Repayments of notes, mortgages and loans (10,169) (1,483)
Repurchase of common shares, including transaction costs (19,998) (39,354)
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,068) (2,435)
Additions to deferred financing costs (2,615) (50)
Proceeds from exercise of options 0 54
Proceeds from other financing activities 445 11,718
Payment for other financing activities (741) 0
Net cash used in financing activities (88,453) (59,575)
Effect of foreign currency rate changes on cash and cash equivalents (53) 9
Net decrease in cash and cash equivalents (1,840) (3,860)
Cash and cash equivalents, beginning of period 6,101 12,222
Cash and cash equivalents, end of period 4,261 8,362
Tanger Properties Limited Partnership [Member]    
OPERATING ACTIVITIES    
Net income 47,975 54,461
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 65,817 64,199
Amortization of deferred financing costs 1,532 1,749
Gain on sale of assets 0 (6,943)
Equity in earnings of unconsolidated joint ventures (4,400) (4,692)
Equity-based compensation expense 7,045 6,796
Amortization of debt (premiums) and discounts, net 204 245
Amortization (accretion) of market rent rate adjustments, net 1,251 1,691
Straight-line rent adjustments (3,294) (3,293)
Distributions of cumulative earnings from unconsolidated joint ventures 4,332 4,952
Changes in other assets and liabilities:    
Other assets 3,672 487
Accounts payable and accrued expenses (8,842) (8,986)
Net cash provided by operating activities 115,292 110,666
INVESTING ACTIVITIES    
Additions to rental property (41,212) (88,761)
Additions to investments in unconsolidated joint ventures (1,497) (3,617)
Net proceeds from sale of assets 0 39,213
Additions to non-real estate assets (1,114) (7,959)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 13,911 6,330
Additions to deferred lease costs (2,821) (2,845)
Other investing activities 4,032 2,591
Net cash used in investing activities (28,701) (55,048)
FINANCING ACTIVITIES    
Cash dividends paid (68,907) (68,606)
Proceeds from revolving credit facility 295,600 326,254
Repayments of revolving credit facility (280,000) (286,127)
Proceeds from notes, mortgages and loans 0 454
Repayments of notes, mortgages and loans (10,169) (1,483)
Repurchase of common shares, including transaction costs (19,998) (39,354)
Employee income taxes paid related to shares withheld upon vesting of equity awards (2,068) (2,435)
Additions to deferred financing costs (2,615) (50)
Proceeds from exercise of options 0 54
Proceeds from other financing activities 445 11,718
Payment for other financing activities (741) 0
Net cash used in financing activities (88,453) (59,575)
Effect of foreign currency rate changes on cash and cash equivalents (53) 9
Net decrease in cash and cash equivalents (1,915) (3,948)
Cash and cash equivalents, beginning of period 6,050 12,199
Cash and cash equivalents, end of period $ 4,135 $ 8,251