Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Unit of the Operating Partnership (Tables)

 v2.3.0.11
Earnings Per Unit of the Operating Partnership (Tables) (Tanger Properties Limited Partnership)
6 Months Ended
Jun. 30, 2011
Tanger Properties Limited Partnership
 
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
The following table sets forth a reconciliation of the numerators and denominators in computing the Operating Partnership's earnings per unit for the three and six months ended June 30, 2011 and 2011, respectively (in thousands, except per unit amounts):
 
 
Three Months Ended
June 30,
 
Six Months Ending June 30,
 
 
 
2011
 
2010
 
2011
 
2010
 
Numerator
 
 

 
 
 
 

 
 

 
Income from continuing operations
 
$
10,842

 
$
5,393

 
$
21,659

 
$
8,395

 
Less applicable preferred unit distributions
 

 
(1,407
)
 

 
(2,813
)
 
Less allocation of earnings to participating securities
 
(165
)
 
(143
)
 
(357
)
 
(312
)
 
Income from continuing operations available to common unitholders of the Operating Partnership
 
10,677

 
3,843

 
21,302

 
5,270

 
Discontinued operations
 

 
(1
)
 

 

 
Net income available to common unitholders of the Operating Partnership
 
$
10,677

 
$
3,842

 
$
21,302

 
$
5,270

 
Denominator
 
 
 
 
 
 
 
 
 
Basic weighted average common units
 
23,154

 
23,085

 
23,138

 
23,067

 
Effect of notional units
 
104

 

 
104

 

 
Effect of senior exchangeable notes
 
32

 
13

 
32

 
13

 
Effect of outstanding options
 
19

 
21

 
19

 
24

 
Diluted weighted average common units
 
23,309

 
23,119

 
23,293

 
23,104

 
Basic earnings per common unit:
 
 
 
 
 
 
 
 
 
Income from continuing operations
 
$
0.46

 
$
0.17

 
$
0.92

 
$
0.23

 
Discontinued operations
 

 

 

 

 
Net income
 
$
0.46

 
$
0.17

 
$
0.92

 
$
0.23

 
Diluted earnings per common unit:
 
 
 
 
 
 
 
 
 
Income from continuing operations
 
$
0.46

 
$
0.17

 
$
0.91

 
$
0.23

 
Discontinued operations
 

 

 

 

 
Net income
 
$
0.46

 
$
0.17

 
$
0.91

 
$
0.23