Exhibit 12.2

TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES

Ratio of Earnings to Fixed Charges and Ratio of Earnings to Fixed Charges and Preferred Unit Distributions

(in thousands, except ratios)

	Twelve months ended December 31,
	2012		2011		2010		2009		2008
Earnings:
Income before equity in losses of unconsolidated joint ventures and noncontrolling interests (1) (2) (3)	$	59,771	$	52,554	$	38,806	$	74,221	$	28,729
Add:
Distributed income of unconsolidated joint ventures	1,005		499		653		660		2,366
Amortization of capitalized interest	509		507		492		474		465
Interest expense	49,814		45,382		41,789		37,684		49,628
Portion of rent expense - interest factor	1,908		1,938		1,753		1,743		1,168
Total earnings	113,007		100,880		83,493		114,782		82,356
Fixed charges:
Interest expense	49,814		45,382		41,789		37,684		49,628
Capitalized interest and capitalized amortization of debt issue costs	1,233		413		1,527		310		1,811
Portion of rent expense - interest factor	1,908		1,938		1,753		1,743		1,168
Total fixed charges	$	52,955	$	47,733	$	45,069	$	39,737	$	52,607
Ratio of earnings to fixed charges	2.1		2.1		1.9		2.9		1.6
Earnings:
Income before equity in earnings (losses) of unconsolidated joint ventures and discontinued operations (1) (2) (3)	$	59,771	$	52,554	$	38,806	$	74,221	$	28,729
Add:
Distributed income of unconsolidated joint ventures	1,005		499		653		660		2,366
Amortization of capitalized interest	509		507		492		474		465
Interest expense	49,814		45,382		41,789		37,684		49,628
Portion of rent expense - interest factor	1,908		1,938		1,753		1,743		1,168
Total earnings	113,007		100,880		83,493		114,782		82,356
Fixed charges and preferred unit distributions:
Interest expense	49,814		45,382		41,789		37,684		49,628
Capitalized interest and capitalized amortization of debt issue costs	1,233		413		1,527		310		1,811
Portion of rent expense - interest factor	1,908		1,938		1,753		1,743		1,168
Preferred unit distributions	—		—		5,297		5,625		5,625
Total combined fixed charges and preferred unit distributions	$	52,955	$	47,733	$	50,366	$	45,362	$	58,232
Ratio of earnings to combined fixed charges and preferred unit distributions	2.1		2.1		1.7		2.5		1.4

(1) The year ended December 31, 2010 includes a loss on termination of derivatives of $6.1 million.

(2) The year ended December 31, 2009 includes a $10.5 million gain on early extinguishment of debt from an exchange offer of common shares for convertible debt and a $31.5 million gain on acquisition of previously held unconsolidated joint venture interest.

(3) The year ended December 31, 2008 includes a loss on termination of derivatives of $8.9 million.