Annual report pursuant to Section 13 and 15(d)

Quarterly Financial Data of the Company (Unaudited)

v3.10.0.1
Quarterly Financial Data of the Company (Unaudited)
12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data of the Company (Unaudited)
Quarterly Financial Data of the Company (Unaudited)

The following table sets forth the Company's summarized quarterly financial information for the years ended December 31, 2018 and 2017 (unaudited and in thousands, except per common share data)(1). This information is not required for the Operating Partnership:
 
 
Year Ended December 31, 2018(1)
 
 
First Quarter
 
Second Quarter
 
Third Quarter(2)
 
Fourth
 Quarter(3)
Total revenues
 
$
123,535

 
$
119,711

 
$
124,236

 
$
127,199

Net income (loss)
 
23,685

 
24,290

 
(23,031
)
 
20,619

Income (loss) attributable to Tanger Factory Outlet Centers, Inc.
 
22,838

 
22,969

 
(21,859
)
 
19,707

Income (loss) available to common shareholders of Tanger Factory Outlet Centers, Inc.
 
$
22,575

 
$
22,656

 
$
(22,172
)
 
$
19,385

 
 
 
 
 
 
 
 
 
Basic earnings per common share:
 
 
 
 
 
 
 
 
Net income (loss)
 
$
0.24

 
$
0.24

 
$
(0.24
)
 
$
0.21

 
 
 
 
 
 
 
 
 
Diluted earnings per common share:
 
 
 
 
 
 
 
 
Net income (loss)
 
$
0.24

 
$
0.24

 
$
(0.24
)
 
$
0.21

(1)
Quarterly amounts may not add to annual amounts due to the effect of rounding on a quarterly basis.
(2)
In the third quarter of 2018, net income includes a $49.7 million impairment charge related to our Jeffersonville, Ohio outlet center.
(3)
In the fourth quarter of 2018, net income includes a $7.2 million impairment charge, associated with our RioCan Canada unconsolidated joint ventures.


 
 
Year Ended December 31, 2017 (1)
 
 
First Quarter
 
Second Quarter(2)
 
Third Quarter(3)
 
Fourth
 Quarter
Total revenues
 
$
121,368

 
$
119,614

 
$
120,765

 
$
126,487

Net income (loss)
 
23,514

 
30,947

 
(16,034
)
 
33,449

Income (loss) attributable to Tanger Factory Outlet Centers, Inc.
 
22,336

 
29,390

 
(15,219
)
 
31,495

Income (loss) available to common shareholders of Tanger Factory Outlet Centers, Inc.
 
$
22,041

 
$
29,084

 
$
(15,525
)
 
$
31,193

 
 
 
 
 
 
 
 
 
Basic earnings per common share :
 
 
 
 
 
 
 
 
Net income (loss)
 
$
0.23

 
$
0.31

 
$
(0.17
)
 
$
0.33

 
 
 
 
 
 
 
 
 
Diluted earnings per common share:
 
 
 
 
 
 
 
 
Net income (loss)
 
$
0.23

 
$
0.31

 
$
(0.17
)
 
$
0.33


(1)
Quarterly amounts may not add to annual amounts due to the effect of rounding on a quarterly basis.
(2)
In the second quarter of 2017, net income includes a $6.9 million gain on the sale of our outlet center in Westbrook, Connecticut.
(3)
In the third quarter of 2017, net income includes a $35.6 million loss on early extinguishment of debt related to the early redemption of senior notes due 2020 and a $9.0 million impairment charge, associated with our RioCan Canada unconsolidated joint ventures.