Earnings Per Share of the Company (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth a reconciliation of the numerators and denominators in computing the Company’s earnings per share (in thousands, except per share amounts):

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Numerator:
Net income (loss) attributable to Tanger Factory Outlet Centers, Inc.	$	23,276	$	(10,579)	$	63,699	$	(3,968)
Less allocation of earnings to participating securities	(232)		(401)		(669)		(804)
Net income (loss) available to common shareholders of Tanger Factory Outlet Centers, Inc.	$	23,044	$	(10,980)	$	63,030	$	(4,772)
Denominator:
Basic weighted average common shares	103,749		103,269		103,655		99,446
Effect of notional units	527		—		473		—
Effect of outstanding options	661		—		701		—
Diluted weighted average common shares	104,937		103,269		104,829		99,446
Basic earnings per common share:
Net income (loss)	$	0.22	$	(0.11)	$	0.61	$	(0.05)
Diluted earnings per common share:
Net income (loss)	$	0.22	$	(0.11)	$	0.60	$	(0.05)

The following table sets forth a reconciliation of the numerators and denominators in computing earnings per unit (in thousands, except per unit amounts):

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Numerator:
Net income (loss) attributable to partners of the Operating Partnership	$	24,345	$	(11,071)	$	66,626	$	(4,133)
Less allocation of earnings to participating securities	(232)		(401)		(669)		(804)
Net income (loss) available to common unitholders of the Operating Partnership	$	24,113	$	(11,472)	$	65,957	$	(4,937)
Denominator:
Basic weighted average common units	108,511		108,063		108,417		104,241
Effect of notional units	527		—		473		—
Effect of outstanding options	661		—		701		—
Diluted weighted average common units	109,699		108,063		109,591		104,241
Basic earnings per common unit:
Net income (loss)	$	0.22	$	(0.11)	$	0.61	$	(0.05)
Diluted earnings per common unit:
Net income (loss)	$	0.22	$	(0.11)	$	0.60	$	(0.05)