Annual report pursuant to Section 13 and 15(d)

Earnings Per Unit of the Operating Partnership (Tables)

v2.4.0.6
Earnings Per Unit of the Operating Partnership (Tables) (Tanger Properties Limited Partnership)
12 Months Ended
Dec. 31, 2011
Tanger Properties Limited Partnership
 
Schedule of Earnings Per Unit [Table Text Block]
The following table sets forth a reconciliation of the numerators and denominators in computing earnings per unit for the years ended December 31, 2011, 2010 and 2009 (in thousands, except per unit amounts):
 
 
2011
 
2010
 
2009
NUMERATOR
 
 
 
 
 
 
Income from continuing operations available to partners of the Operating Partnership
 
$
50,997

 
$
38,342

 
$
72,709

Applicable preferred unit distributions
 

 
(5,297
)
 
(5,625
)
Original issuance costs related to redeemed preferred units
 

 
(2,539
)
 

Allocation of earnings to participating securities
 
(684
)
 
(598
)
 
(747
)
Income from continuing operations available to common unitholders of the Operating Partnership
 
50,313

 
29,908

 
66,337

Allocation of earnings to discontinued operations
 

 

 
46

Discontinued operations
 

 
(98
)
 
(5,214
)
Net income available to common unitholders of the Operating Partnership
 
$
50,313

 
$
29,810

 
$
61,169

DENOMINATOR
 
 
 
 
 
 
Basic weighted average common units
 
23,723

 
23,080

 
20,991

Effect of notional units
 
241

 

 

Effect of exchangeable notes
 
23

 
28

 
9

Effect of outstanding options
 
18

 
23

 
39

Diluted weighted average common units
 
24,005

 
23,131

 
21,039

 
 
 
 
 
 
 
Basic earnings per common unit:
 
 
 
 
 
 
Income from continuing operations
 
$
2.12

 
$
1.29

 
$
3.16

Discontinued operations
 

 

 
(0.25
)
Net income
 
$
2.12

 
$
1.29

 
$
2.91

 
 
 
 
 
 
 
Diluted earnings per common unit:
 
 
 
 
 
 
Income from continuing operations
 
$
2.10

 
$
1.29

 
$
3.15

Discontinued operations
 

 

 
(0.24
)
Net income
 
$
2.10

 
$
1.29

 
$
2.91