Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2011
Tanger Factory Outlet Centers, Inc
Dec. 31, 2010
Tanger Factory Outlet Centers, Inc
Dec. 31, 2009
Tanger Factory Outlet Centers, Inc
Dec. 31, 2011
Tanger Properties Limited Partnership
Dec. 31, 2010
Tanger Properties Limited Partnership
Dec. 31, 2009
Tanger Properties Limited Partnership
Net income   $ 50,989,000 $ 38,244,000 $ 67,495,000 $ 50,989,000 $ 38,244,000 $ 67,495,000
Depreciation, Depletion and Amortization   84,015,000 78,126,000 80,501,000 84,015,000 78,126,000 80,501,000
Impairment charges (including discontinued operations)   0 846,000 5,200,000 0 846,000 5,200,000
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain   0 0 (31,497,000) 0 0 (31,497,000)
Gain on sale of outparcels of land   0 (161,000) (3,293,000) 0 (161,000) (3,293,000)
Amortization of Acquired Intangible Assets   (454,000) (950,000) (492,000) (454,000) (950,000) (492,000)
Amortization of deferred financing costs   2,143,000 1,286,000 1,511,000 2,143,000 1,286,000 1,511,000
Loss on early extinguishment of debt   0 563,000 (10,467,000) 0 563,000 (10,467,000)
Equity in earnings (losses) of unconsolidated joint ventures   1,565,000 464,000 1,512,000 1,565,000 464,000 1,512,000
Equity-based compensation expense   (7,291,000) (5,848,000) (11,798,000) (7,291,000) (5,848,000) (11,798,000)
Amortization of debt premiums and discount, net   315,000 176,000 (895,000) 315,000 176,000 (895,000)
Distributions of cumulative earnings from unconsolidated joint ventures   499,000 653,000 660,000 499,000 653,000 660,000
Gain (Loss) on Derivative Instruments, Net, Pretax   0 (6,142,000) 0 0 (6,142,000) 0
Straight-line base rent adjustment   (3,829,000) (2,676,000) (2,242,000) (3,829,000) (2,676,000) (2,242,000)
Changes in other assets and liabilities :              
Other assets   (9,080,000) (8,844,000) 1,609,000 (9,127,000) (8,781,000) 1,656,000
Accounts payable and accrued expenses   3,170,000 (865,000) 4,107,000 3,276,000 (962,000) 4,032,000
Net cash provided by operating activities   135,994,000 118,500,000 127,297,000 136,053,000 118,466,000 127,269,000
INVESTING ACTIVITIES              
Additions to rental property   (60,314,000) (77,487,000) (42,369,000) (60,314,000) (77,487,000) (42,369,000)
Payments to Acquire Real Estate   (266,211,000) 0 0 (266,211,000) 0 0
Payments to Acquire Remaining Interests in Unconsolidated Joint Venture, Net of Cash Acquired   0 0 (31,086,000) 0 0 (31,086,000)
Payments to Acquire Interest in Subsidiaries and Affiliates   (25,314,000) 0 (95,000) (25,314,000) 0 (95,000)
Termination payments related to derivatives   0 (6,142,000) 0 0 (6,142,000) 0
Distributions in excess of cumulative earnings from unconsolidated joint ventures   701,000 897,000 0 701,000 897,000 0
Net proceeds from the sale of real estate   723,000 2,025,000 1,577,000 723,000 2,025,000 1,577,000
Additions to deferred lease costs   (10,661,000) (6,146,000) (4,255,000) (10,661,000) (6,146,000) (4,255,000)
Net cash used in investing activities   (361,076,000) (86,853,000) (76,228,000) (361,076,000) (86,853,000) (76,228,000)
FINANCING ACTIVITIES              
Cash distributions paid   (66,530,000) (68,737,000) (59,337,000) (76,031,000) (78,110,000) (68,604,000)
Partners' Capital Account, Contributions         117,375,000 0 116,819,000
Distributions to noncontrolling interest in Operating Partnership         117,375,000 0 116,819,000
Proceeds from Issuance of Common Stock   117,375,000 0 116,819,000      
Payments for Repurchase of Redeemable Preferred Stock   0 (75,000,000) 0 0 (75,000,000) 0
Proceeds from debt issuances   (687,390,000) (773,600,000) (335,900,000) (687,390,000) (773,600,000) (335,900,000)
Proceeds from Borrowings and Issuance of Debt         876,342,000 903,030,000 232,100,000
Proceeds From Tax Incremental Financing 0   0 1,502,000 0 0 1,502,000
Additions to deferred financing costs   (3,431,000) (6,583,000) (443,000) (3,431,000) (6,583,000) (443,000)
Proceeds from exercise of options   353,000 1,107,000 1,747,000 353,000 1,107,000 1,747,000
Net cash used in financing activities   227,218,000 (29,156,000) (52,779,000) 227,218,000 (29,156,000) (52,779,000)
Net decrease in cash and cash equivalents   2,136,000 2,491,000 (1,710,000) 2,195,000 2,457,000 (1,738,000)
Cash and cash equivalents, beginning of period   5,758,000 3,267,000 4,977,000 5,671,000 3,214,000 4,952,000
Cash and cash equivalents, end of period   7,894,000 5,758,000 3,267,000 7,866,000 5,671,000 3,214,000
Payments to Noncontrolling Interests   9,501,000 9,373,000 9,267,000      
Proceeds from Issuance of Long-term Debt   $ 876,342,000 $ 903,030,000 $ 232,100,000