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

Annual report pursuant to Section 13 and 15(d)

Schedule III - Real Estate and Accumulated Depreciation (Tables)

Schedule III - Real Estate and Accumulated Depreciation (Tables)

12 Months Ended

Dec. 31, 2011

Reconciliation of Carrying Amount of Real Estate Investments [Table Text Block]

The changes in total real estate for the three years ended December 31, 2011 are as follows:



	2011			2010			2009
Balance, beginning of year	$	1,576,214		$	1,507,870		$	1,399,755
Acquisitions	304,572			—			80,733
Improvements	42,161			95,185			45,055
Impairment charge	—			(846		)	(14,869		)
Dispositions and assets held for sale	(6,902		)	(25,995		)	(2,804		)
Balance, end of year	$	1,916,045		$	1,576,214		$	1,507,870

Real Estate and Accumulated Depreciation, by Property [Table Text Block]



TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES
TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
For the Year Ended December 31, 2011 (in thousands)

Description				Initial cost to Company				Costs Capitalized Subsequent to Acquisition (Improvements)				Gross Amount Carried at Close of Period December 31, 2011 ⁽¹⁾
Outlet Center Name	Location	Encum-brances		Land		Buildings, Improve-ments & Fixtures		Land		Buildings, Improve-ments & Fixtures		Land		Buildings, Improve-ments & Fixtures		Total			Accumulated Depreciation		Date of Construction	Life Used to Compute Depreciation in Income Statement
Atlantic City	Atlantic City, NJ	$	58,721	$	—	$	125,988	$	—	$	—	$	—	$	125,988	$	125,988		$	2,215	2011 ⁽³⁾	⁽²⁾
Barstow	Barstow, CA	—		3,281		12,533		—		19,760		3,281		32,293		35,574			15,134		1995	⁽²⁾
Blowing Rock	Blowing Rock, NC	—		1,963		9,424		—		5,259		1,963		14,683		16,646			6,724		1997 ⁽³⁾	⁽²⁾
Branson	Branson, MO	—		4,407		25,040		396		14,154		4,803		39,194		43,997			22,676		1994	⁽²⁾
Charleston	Charleston, SC	—		10,353		48,877		—		7,678		10,353		56,555		66,908			14,434		2006	⁽²⁾
Commerce II	Commerce, GA	—		1,262		14,046		707		30,343		1,969		44,389		46,358			23,247		1995	⁽²⁾
Foley	Foley, AL	—		4,400		82,410		693		39,900		5,093		122,310		127,403			29,950		2003 ⁽³⁾	⁽²⁾
Gonzales	Gonzales, LA	—		679		15,895		—		20,516		679		36,411		37,090			20,171		1992	⁽²⁾
Hershey	Hershey, PA	33,416		3,673		48,186		—		—		3,673		48,186		51,859		—	521		2011⁽³⁾	⁽²⁾
Hilton Head I	Bluffton, SC	—		4,753		—		—		30,816		4,753		30,816		35,569			1,364		2011	⁽²⁾
Hilton Head II	Bluffton, SC	—		5,128		20,668		—		6,876		5,128		27,544		32,672			8,198		2003 ⁽³⁾	⁽²⁾
Howell	Howell, MI	—		2,250		35,250		—		8,914		2,250		44,164		46,414			13,376		2002 ⁽³⁾	⁽²⁾
Jeffersonville	Jeffersonville, OH	—		2,752		111,276		—		—		2,752		111,276		114,028			2,003		2011⁽³⁾	⁽²⁾
Kittery I	Kittery, ME	—		1,242		2,961		229		2,356		1,471		5,317		6,788			4,204		1986	⁽²⁾
Kittery II	Kittery, ME	—		1,451		1,835		—		764		1,451		2,599		4,050			2,092		1989	⁽²⁾
Lancaster	Lancaster, PA	—		3,691		19,907		—		16,695		3,691		36,602		40,293			21,332		1994 ⁽³⁾	⁽²⁾
Lincoln City	Lincoln City, OR	—		6,268		28,663		267		8,689		6,535		37,352		43,887			11,003		2003 ⁽³⁾	⁽²⁾
Locust Grove	Locust Grove, GA	—		2,558		11,801		—		24,371		2,558		36,172		38,730			17,787		1994	⁽²⁾
Mebane	Mebane, NC	—		8,821		53,362		—		112		8,821		53,474		62,295			3,351		2010	⁽²⁾
Myrtle Beach Hwy 17	Myrtle Beach, SC	—		—		80,733		—		3,911		—		84,644		84,644			10,799		2009 ⁽³⁾	⁽²⁾
Myrtle Beach Hwy 501	Myrtle Beach, SC	—		10,236		57,094		—		33,907		10,236		91,001		101,237			21,207		2003 ⁽³⁾	⁽²⁾
Nags Head	Nags Head, NC	—		1,853		6,679		—		5,034		1,853		11,713		13,566			5,818		1997 ⁽³⁾	⁽²⁾
Ocean City	Ocean City, MD	19,242		—		16,334		—		—		—		16,334		16,334			423		2011⁽³⁾	⁽²⁾
Park City	Park City, UT	—		6,900		33,597		343		17,898		7,243		51,495		58,738			13,264		2003 ⁽³⁾	⁽²⁾
Rehoboth Beach	Rehoboth Beach, DE	—		20,600		74,209		1,876		26,226		22,476		100,435		122,911			25,501		2003 ⁽³⁾	⁽²⁾
Riverhead	Riverhead, NY	—		—		36,374		6,152		83,439		6,152		119,813		125,965			62,799		1993	⁽²⁾
San Marcos	San Marcos, TX	—		1,801		9,440		16		45,597		1,817		55,037		56,854			29,360		1993	⁽²⁾
Sanibel	Sanibel, FL	—		4,916		23,196		—		11,327		4,916		34,523		39,439			16,153		1998 ⁽³⁾	⁽²⁾
Sevierville	Sevierville, TN	—		—		18,495		—		36,143		—		54,638		54,638			24,927		1997 ⁽³⁾	⁽²⁾



TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES
TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
For the Year Ended December 31, 2011 (in thousands)

Description				Initial cost to Company				Costs Capitalized Subsequent to Acquisition (Improvements)				Gross Amount Carried at Close of Period December 31, 2011 ⁽¹⁾
Outlet Center Name	Location	Encum-brances		Land		Buildings, Improve-ments & Fixtures		Land		Buildings, Improve-ments & Fixtures		Land		Buildings, Improve-ments & Fixtures		Total		Accumulated Depreciation		Date of Construction	^{Life Used to} ^Compute ^Depreciation ^{in Income} ^Statement
Seymour	Seymour, IN	—		200		—		—		—		200		—		200		—		1994	⁽²⁾
Terrell	Terrell, TX	—		523		13,432		—		8,453		523		21,885		22,408		15,202		1994	⁽²⁾
Tilton	Tilton, NH	—		1,800		24,838		29		9,364		1,829		34,202		36,031		10,093		2003 ⁽³⁾	⁽²⁾
Tuscola	Tuscola, IL	—		1,600		15,428		43		3,155		1,643		18,583		20,226		5,732		2003 ⁽³⁾	⁽²⁾
Washington	Washington, PA	—		5,528		91,288		3		9,828		5,531		101,116		106,647		18,236		2008	⁽²⁾
West Branch	West Branch, MI	—		319		3,428		120		9,064		439		12,492		12,931		7,827		1991	⁽²⁾
Westbrook	Westbrook, CT	—		6,264		26,991		4,234		5,130		10,498		32,121		42,619		8,971		2003 ⁽³⁾	⁽²⁾
Williamsburg	Williamsburg, IA	—		706		6,781		716		15,905		1,422		22,686		24,108		16,391		1991	⁽²⁾
		$	111,379	$	132,178	$	1,206,459	$	15,824	$	561,584	$	148,002	$	1,768,043	$	1,916,045	$	512,485


(1)	Aggregate cost for federal income tax purposes is approximately $1.6 billion.


(2)	We generally use estimated lives of 33 years for buildings and 15 years for land improvements. Tenant finishing allowances are depreciated over the initial

lease term. Building, improvements & fixtures includes amounts included in construction in progress on the consolidated balance sheet.


(3)	Represents year acquired.

Reconciliation of Real Estate Accumulated Depreciation [Table Text Block]

The changes in accumulated depreciation for the three years ended December 31, 2011 are as follows:



	2011			2010			2009
Balance, beginning of year	$	453,145		$	412,530		$	359,301
Depreciation for the period	66,242			64,543			64,922
Impairment charge	—			—			(9,669		)
Dispositions and assets held for sale	(6,902		)	(23,928		)	(2,024		)
Balance, end of year	$	512,485		$	453,145		$	412,530