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, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues:      
Rental revenues $ 377,932 $ 463,946  
Management, leasing and other services 4,936 5,419 $ 4,995
Other income (expense):      
Gain on sale of assets 43,422    
Tanger Factory Outlet Centers, Inc. [Member]      
Revenues:      
Rental revenues 377,932 463,946 480,707
Management, leasing and other services 4,936 5,419 4,995
Other revenues 7,123 8,983 8,979
Total revenues 389,991 478,348 494,681
Expenses:      
Property operating 137,135 157,734 160,457
General and administrative 47,733 53,790 44,167
Impairment charges 67,226 37,610 49,739
Depreciation and amortization 117,143 123,314 131,722
Total expenses 369,237 372,448 386,085
Other income (expense):      
Interest expense (63,142) (61,672) (64,821)
Gain on sale of assets 2,324 43,422 0
Other income (expense) 925 (2,761) 864
Total other income (expense) (59,893) (21,011) (63,957)
Income (loss) before equity in earnings of unconsolidated joint ventures (39,139) 84,889 44,639
Equity in earnings of unconsolidated joint ventures 1,126 7,839 924
Net income (loss) (38,013) 92,728 45,563
Noncontrolling interests in Operating Partnership 1,925 (4,678) (2,329)
Noncontrolling interests in other consolidated partnerships (190) (195) 421
Net income (loss) attributable to Tanger Factory Outlet Centers, Inc. $ (36,278) $ 87,855 $ 43,655
Basic earnings per common share:      
Net income (loss) (in dollars per share) $ (0.40) $ 0.93 $ 0.45
Diluted earnings per common share:      
Net income (loss) (in dollars per share) $ (0.40) $ 0.93 $ 0.45
Tanger Properties Limited Partnership [Member]      
Revenues:      
Rental revenues $ 377,932 $ 463,946 $ 480,707
Management, leasing and other services 4,936 5,419 4,995
Other revenues 7,123 8,983 8,979
Total revenues 389,991 478,348 494,681
Expenses:      
Property operating 137,135 157,734 160,457
General and administrative 47,733 53,790 44,167
Impairment charges 67,226 37,610 49,739
Depreciation and amortization 117,143 123,314 131,722
Total expenses 369,237 372,448 386,085
Other income (expense):      
Interest expense (63,142) (61,672) (64,821)
Gain on sale of assets 2,324 43,422 0
Other income (expense) 925 (2,761) 864
Total other income (expense) (59,893) (21,011) (63,957)
Income (loss) before equity in earnings of unconsolidated joint ventures (39,139) 84,889 44,639
Equity in earnings of unconsolidated joint ventures 1,126 7,839 924
Net income (loss) (38,013) 92,728 45,563
Noncontrolling interests in consolidated partnerships (190) (195) 421
Net income (loss) attributable to Tanger Factory Outlet Centers, Inc. (38,203) 92,533 45,984
Net income (loss) available to limited partners (37,815) 91,597 45,522
Net income (loss) available to general partner $ (388) $ 936 $ 462
Basic earnings per common share:      
Net income (loss) (in dollars per share) $ (0.40) $ 0.93 $ 0.45
Diluted earnings per common share:      
Net income (loss) (in dollars per share) $ (0.40) $ 0.93 $ 0.45