Partners' Equity of the Operating Partnership

3 Months Ended

Mar. 31, 2021

Tanger Properties Limited Partnership [Member]

Schedule of Partners' Equity of the Operating Partnership [Line Items]

Partners' Equity of the Operating Partnership

Partners’ Equity of the Operating Partnership

All units of partnership interest issued by the Operating Partnership have equal rights with respect to earnings, dividends and net assets. When the Company issues common shares upon the exercise of options, the grant of restricted common share awards, or the exchange of Class A common limited partnership units, the Operating Partnership issues a corresponding Class B common limited partnership unit to Tanger LP Trust, a wholly-owned subsidiary of the Company. Likewise, when the Company repurchases its outstanding common shares, the Operating Partnership repurchases a corresponding Class B common limited partnership unit held by Tanger LP Trust.

The following table sets forth the changes in outstanding partnership units for the three months ended March 31, 2021 and March 31, 2020:

		Limited Partnership Units
	General Partnership Units	Class A	Class B	Total
Balance December 31, 2019	1,000,000	4,911,173	91,892,260	96,803,433
Grant of restricted common share awards by the Company, net of forfeitures	—	—	241,038	241,038
Units withheld for employee income taxes	—	—	(56,597)	(56,597)
Balance March 31, 2020	1,000,000	4,911,173	92,076,701	96,987,874
Balance December 31, 2020	1,000,000	4,794,643	92,569,801	97,364,444
Grant of restricted common share awards by the Company, net of forfeitures	—	—	469,675	469,675
Issuance of units	100,000	—	6,767,078	6,767,078
Units withheld for employee income taxes	—	—	(111,977)	(111,977)
Balance March 31, 2021	1,100,000	4,794,643	99,694,577	104,489,220