v3.25.1
TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
OPERATING ACTIVITIES    
Net income (loss) $ 19,999 $ 23,306
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 37,146 33,860
Impairment charge 4,249 0
Amortization of deferred financing costs 940 832
Equity in earnings of unconsolidated joint ventures (2,399) (2,516)
Equity-based compensation expense 2,926 3,497
Amortization of debt discounts, net 205 174
Amortization (accretion) of market rent rate adjustments, net (402) 95
Straight-line rent adjustments 418 511
Distributions of cumulative earnings from unconsolidated joint ventures 4,050 1,604
Changes in other assets and liabilities:    
Other assets (2,760) 7,026
Accounts payable and accrued expenses (22,935) (37,308)
Net cash provided by operating activities 41,437 31,081
INVESTING ACTIVITIES    
Additions to rental property (10,300) (24,816)
Acquisition of real estate assets 164,190 0
Proceeds from short-term investments 0 1,448
Additions to non-real estate assets (1,345) (2,378)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 1,299 1,002
Additions to deferred lease costs (687) (498)
Payments for other investing activities (1,513) (2,940)
Proceeds from other investing activities 1,039 1,883
Net cash used in investing activities (175,697) (26,299)
FINANCING ACTIVITIES    
Cash dividends paid (32,232) (29,572)
Distributions to noncontrolling interests in Operating Partnership (1,282) (1,224)
Proceeds from revolving credit facility 160,000 117,000
Repayments of revolving credit facility (21,000) (84,000)
Repayments of notes, mortgages and loans (366) (1,247)
Employee income taxes paid related to shares withheld upon vesting of equity awards (7,261) (10,524)
Proceeds from exercise of options 38 438
Payment for other financing activities (282) (287)
Contributions from noncontrolling interests in other consolidated partnerships 0 80
Net cash provided by (used in) financing activities 97,615 (9,336)
Effect of foreign currency rate changes on cash and cash equivalents (191) (87)
Net decrease in cash and cash equivalents (36,836) (4,641)
Cash and cash equivalents, beginning of period 46,992 12,778
Cash and cash equivalents, end of period $ 10,156 $ 8,137