Tanger Inc. Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2018

The following table sets forth our assets and liabilities that are measured at fair value within the fair value hierarchy (in thousands):



			Level 1		Level 2		Level 3
			Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Observable Inputs		Significant Unobservable Inputs
	Total				Significant Observable Inputs		Significant Unobservable Inputs
Fair value as of December 31, 2018:
Asset:
Interest rate swaps (prepaids and other assets)	$	5,755	$	—	$	5,755	$	—
Total assets	$	5,755	$	—	$	5,755	$	—

Liabilities:
Interest rate swaps (other liabilities)	$	6	$	—	$	6	$	—
Total liabilities	$	6	$	—	$	6	$	—



			Level 1		Level 2		Level 3
			Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Observable Inputs		Significant Unobservable Inputs
	Total				Significant Observable Inputs		Significant Unobservable Inputs
Fair value as of December 31, 2017:
Assets:
Interest rate swaps (prepaids and other assets)	$	5,533	$	—	$	5,533	$	—
Total assets	$	5,533	$	—	$	5,533	$	—

Liabilities:
Interest rate swaps (other liabilities)	$	188	$	—	$	188	$	—
Total liabilities	$	188	$	—	$	188	$	—

The following table sets forth our assets that are measured at fair value on a nonrecurring basis within the fair value hierarchy (in thousands):



			Level 1		Level 2		Level 3
			Quoted Prices in Active Markets for Identical Assets or Liabilities		Significant Observable Inputs		Significant Unobservable Inputs
	Total				Significant Observable Inputs		Significant Unobservable Inputs
Fair value as of September 30, 2018:
Asset:
Long-lived assets	$	50,000	$	—	$	—	$	50,000

The estimated fair value and recorded value of our debt as of December 31, 2018 and 2017 were as follows (in thousands):



	2018		2017
Level 1 Quoted Prices in Active Markets for Identical Assets or Liabilities	$	—	$	—
Level 2 Significant Observable Inputs	1,085,138		1,139,064
Level 3 Significant Unobservable Inputs	583,337		636,476
Total fair value of debt	$	1,668,475	$	1,775,540

Recorded value of debt	$	1,712,918	$	1,763,651