v3.26.1
TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
OPERATING ACTIVITIES    
Net income (loss) $ 64,016 $ 51,329
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 82,327 73,754
Impairment charge 0 4,249
Amortization of deferred financing costs 2,609 1,861
Equity in earnings of unconsolidated joint ventures (7,291) (5,433)
Equity-based compensation expense 7,203 6,213
Amortization of debt (premiums) and discounts, net (477) 413
Accretion of market rent rate adjustments, net (3,348) (263)
Straight-line rent adjustments (4,578) (294)
Distributions of cumulative earnings from unconsolidated joint ventures 7,851 6,613
Changes in other assets and liabilities:    
Other assets 9,267 (4,062)
Accounts payable and accrued expenses (27,782) (10,936)
Net cash provided by operating activities 129,797 123,444
INVESTING ACTIVITIES    
Additions to rental property (41,051) (27,595)
Acquisitions of real estate assets (61,637) (166,596)
Net proceeds from sale of assets 0 16,634
Additions to short-term investments (20,000) 0
Additions to non-real estate assets (2,450) (3,077)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 2,883 2,266
Additions to deferred lease costs (6,571) (2,524)
Payments for other investing activities (932) (7,678)
Proceeds from other investing activities 2,804 3,039
Net cash used in investing activities (126,954) (185,531)
FINANCING ACTIVITIES    
Cash dividends paid (70,991) (65,368)
Proceeds from revolving credit facility 0 205,000
Repayments of revolving credit facility (44,000) (113,000)
Proceeds from issuance of senior, unsecured exchangeable notes 250,000 0
Proceeds from notes, mortgages and loans 194,857 10,000
Repayments of notes, mortgages and loans (125,562) (738)
Employee income taxes paid related to shares withheld upon vesting of equity awards (8,274) (7,261)
Repurchase of common shares, including transaction costs (20,000) 0
Capped call transactions premium (9,025) 0
Additions to deferred financing costs (12,454) (544)
Proceeds from exercise of options 517 43
Payment for other financing activities (574) (574)
Net cash provided by financing activities 151,602 24,901
Effect of foreign currency rate changes on cash and cash equivalents (87) (65)
Net increase (decrease) in cash, cash equivalents and restricted cash 154,358 (37,251)
Cash, cash equivalents and restricted cash beginning of period 53,528 46,992
Cash, cash equivalents and restricted cash end of period 207,886 9,741
Tanger Properties Limited Partnership    
OPERATING ACTIVITIES    
Net income (loss) 64,016 51,329
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 82,327 73,754
Impairment charge 0 4,249
Amortization of deferred financing costs 2,609 1,861
Equity in earnings of unconsolidated joint ventures (7,291) (5,433)
Equity-based compensation expense 7,203 6,213
Amortization of debt (premiums) and discounts, net (477) 413
Accretion of market rent rate adjustments, net (3,348) (263)
Straight-line rent adjustments (4,578) (294)
Distributions of cumulative earnings from unconsolidated joint ventures 7,851 6,613
Changes in other assets and liabilities:    
Other assets 8,602 (4,284)
Accounts payable and accrued expenses (27,359) (10,856)
Net cash provided by operating activities 129,555 123,302
INVESTING ACTIVITIES    
Additions to rental property (41,051) (27,595)
Acquisitions of real estate assets (61,637) (166,596)
Net proceeds from sale of assets 0 16,634
Additions to short-term investments (20,000) 0
Additions to non-real estate assets (2,450) (3,077)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 2,883 2,266
Additions to deferred lease costs (6,571) (2,524)
Payments for other investing activities (932) (7,678)
Proceeds from other investing activities 2,804 3,039
Net cash used in investing activities (126,954) (185,531)
FINANCING ACTIVITIES    
Cash dividends paid (73,883) (68,025)
Proceeds from revolving credit facility 0 205,000
Repayments of revolving credit facility (44,000) (113,000)
Proceeds from issuance of senior, unsecured exchangeable notes 250,000 0
Proceeds from notes, mortgages and loans 194,857 10,000
Repayments of notes, mortgages and loans (125,562) (738)
Employee income taxes paid related to shares withheld upon vesting of equity awards (8,274) (7,261)
Repurchase of common shares, including transaction costs (20,000) 0
Capped call transactions premium (9,025) 0
Additions to deferred financing costs (12,454) (544)
Proceeds from exercise of options 517 43
Payment for other financing activities (574) (574)
Net cash provided by financing activities 151,602 24,901
Effect of foreign currency rate changes on cash and cash equivalents (87) (65)
Net increase (decrease) in cash, cash equivalents and restricted cash 154,116 (37,393)
Cash, cash equivalents and restricted cash beginning of period 53,288 46,700
Cash, cash equivalents and restricted cash end of period $ 207,404 $ 9,307