Quarterly report pursuant to Section 13 or 15(d)

TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS

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TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Rental revenues $ 101,409 $ 96,824 $ 206,018 $ 194,291
Management, leasing and other services 1,436 1,359 2,963 2,731
Other revenues 2,993 3,090 5,725 4,945
Total revenues 105,838 101,273 214,706 201,967
Expenses:        
Property operating 32,697 31,250 69,455 66,561
General and administrative 19,329 15,700 34,796 32,493
Depreciation and amortization 26,220 27,732 52,463 55,882
Total expenses 78,246 74,682 156,714 154,936
Other income (expense):        
Interest expense (11,576) (13,338) (23,210) (27,700)
Loss on early extinguishment of debt 0 (14,039) 0 (14,039)
Other income (expense) 2,576 654 2,759 (2,851)
Total other income (expense) (9,000) (26,723) (20,451) (44,590)
Income (loss) before equity in earnings of unconsolidated joint ventures 18,592 (132) 37,541 2,441
Equity in earnings of unconsolidated joint ventures 2,227 2,728 4,740 4,497
Net income 20,819 2,596 42,281 6,938
Noncontrolling interests in Operating Partnership (914) (118) (1,858) (327)
Noncontrolling interests in other consolidated partnerships 0 0 0 0
Net income attributable to Tanger Factory Outlet Centers, Inc. $ 19,905 $ 2,478 $ 40,423 $ 6,611
Basic earnings per common share/unit        
Net income (in dollars per share) $ 0.19 $ 0.02 $ 0.39 $ 0.06
Diluted earnings per common share/unit        
Net income (in dollars per share) $ 0.19 $ 0.02 $ 0.38 $ 0.06