CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
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12 Months Ended | ||||||
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Dec. 31, 2011
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Dec. 31, 2011
Tanger Factory Outlet Centers, Inc
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Dec. 31, 2010
Tanger Factory Outlet Centers, Inc
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Dec. 31, 2009
Tanger Factory Outlet Centers, Inc
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Dec. 31, 2011
Tanger Properties Limited Partnership
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Dec. 31, 2010
Tanger Properties Limited Partnership
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Dec. 31, 2009
Tanger Properties Limited Partnership
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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 |
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- Definition
Additions to deferred lease costs including (1) internal lease costs capitalized directly related to the creation of a new lease and (2) payments of lease commissions to third-parties. No definition available.
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- Definition
This item represents disclosure of the amount of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporation; these investments are accounted for under the equity method of accounting. This element includes distributions that constitute a return of investment, which are classified as investing activities. No definition available.
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- Definition
Gain (loss) recognized on sale of land No definition available.
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- Definition
Charges against earnings for both operating properties and properties classified as discontinued operations during the reporting period to reduce the carrying amount of real property to fair value. No definition available.
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- Definition
Payments to Acquire Remaining Interests in Unconsolidated Joint Venture, Net of Cash Acquired No definition available.
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- Definition
Proceeds from Borrowings and Issuance of Debt No definition available.
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- Definition
Proceeds From Tax Incremental Financing No definition available.
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- Definition
Cash outflow to terminate derivative instrument contract. No definition available.
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- Definition
The aggregate expense charged against earnings to allocate the cost of acquired intangible assets. As a noncash expense, this element is added back to net income when calculating cash provided by (used in) operations using the indirect method. No definition available.
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- Definition
The component of interest expense representing the noncash expenses charged against earnings in the period to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate caption: Noncash Interest Expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The component of interest expense comprised of the periodic charge against earnings over the life of the financing arrangement to which such costs relate. Alternate captions include Noncash Interest Expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
In a business combination achieved in stages, this element represents the amount of gain recognized by the entity as a result of remeasuring to fair value the equity interest in the acquiree it held before the business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the Entity may deposit additional funds at any time and also effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Compensating balance arrangements that do not legally restrict the withdrawal or usage of cash amounts may be reported as Cash and Cash Equivalents, while legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits are not generally reported as cash and cash equivalents. Includes cash and cash equivalents associated with the entity's continuing operations. Excludes cash and cash equivalents associated with the disposal group (and discontinued operation). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in cash and cash equivalents. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents disclosure of the amount of dividends or other distributions received from unconsolidated subsidiaries, certain corporate joint ventures, and certain noncontrolled corporation; these investments are accounted for under the equity method of accounting. This element excludes distributions that constitute a return of investment, which are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount represents the difference between the fair value of the payments made and the carrying amount of the debt at the time of its extinguishment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the amount due that is the result of the cumulative difference between actual rent due and rental income recognized on a straight-line basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total contributions made by each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow for reacquisition of callable preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow from the entity's earnings to the shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow for loan and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow associated with the acquisition of or advances to an entity that is related to it but not strictly controlled (for example, an unconsolidated subsidiary, affiliate, and joint venture or equity method investment) or the acquisition of an additional interest in a subsidiary (controlled entity). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow from the acquisition of a piece of land, anything permanently fixed to it, including buildings, structures on it and so forth; includes real estate intended to generate income for the owner; excludes real estate acquired for use by the owner. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Payments to develop real estate assets is the process of adding improvements on or to a parcel of land. Such improvements may include drainage, utilities, subdividing, access, buildings, and any combination of these elements; and are generally classified as cash flow from investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow to return capital to noncontrolled interest, which generally occurs when noncontrolling shareholders reduce their ownership stake (in a subsidiary of the entity). This element does not include dividends paid to noncontrolling shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cash received for the sale of real estate that is not part of an investing activity during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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