Earnings Per Unit of the Operating Partnership (Tables)

9 Months Ended

Sep. 30, 2023

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,
	2023		2022		2023		2022
Numerator:
Net income attributable to Tanger Factory Outlet Centers, Inc.	$	27,624	$	23,276	$	75,367	$	63,699
Less allocation of earnings to participating securities	(414)		(232)		(854)		(669)
Net income available to common shareholders of Tanger Factory Outlet Centers, Inc.	$	27,210	$	23,044	$	74,513	$	63,030
Denominator:
Basic weighted average common shares	104,461		103,749		104,308		103,655
Effect of notional units	1,026		527		898		473
Effect of outstanding options	832		661		783		701
Diluted weighted average common shares	106,319		104,937		105,989		104,829
Basic earnings per common share:
Net income	$	0.26	$	0.22	$	0.71	$	0.61
Diluted earnings per common share:
Net income	$	0.26	$	0.22	$	0.70	$	0.60

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,
	2023		2022		2023		2022
Numerator:
Net income attributable to partners of the Operating Partnership	$	28,877	$	24,345	$	78,789	$	66,626
Less allocation of earnings to participating securities	(414)		(232)		(854)		(669)
Net income available to common unitholders of the Operating Partnership	$	28,463	$	24,113	$	77,935	$	65,957
Denominator:
Basic weighted average common units	109,199		108,511		109,046		108,417
Effect of notional units	1,026		527		898		473
Effect of outstanding options	832		661		783		701
Diluted weighted average common units	111,057		109,699		110,727		109,591
Basic earnings per common unit:
Net income	$	0.26	$	0.22	$	0.71	$	0.61
Diluted earnings per common unit:
Net income	$	0.26	$	0.22	$	0.70	$	0.60