Earnings Per Unit of the Operating Partnership (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31,
	2023		2022
Numerator:
Net income attributable to Tanger Factory Outlet Centers, Inc.	$	23,541	$	20,518
Less allocation of earnings to participating securities	(199)		(215)
Net income available to common shareholders of Tanger Factory Outlet Centers, Inc.	$	23,342	$	20,303
Denominator:
Basic weighted average common shares	104,088		103,520
Effect of notional units	693		802
Effect of outstanding options	741		736
Diluted weighted average common shares	105,522		105,058
Basic earnings per common share:
Net income	$	0.22	$	0.20
Diluted earnings per common share:
Net income	$	0.22	$	0.19

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 March 31,
	2023		2022
Numerator:
Net income attributable to partners of the Operating Partnership	$	24,612	$	21,462
Less allocation of earnings to participating securities	(199)		(215)
Net income available to common unitholders of the Operating Partnership	$	24,413	$	21,247
Denominator:
Basic weighted average common units	108,826		108,282
Effect of notional units	693		802
Effect of outstanding options	741		736
Diluted weighted average common units	110,260		109,820
Basic earnings per common unit:
Net income	$	0.22	$	0.20
Diluted earnings per common unit:
Net income	$	0.22	$	0.19