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TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
OPERATING ACTIVITIES    
Net income (loss) $ 51,329 $ 49,221
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 73,754 68,034
Impairment charge 4,249 0
Amortization of deferred financing costs 1,861 1,695
Equity in earnings of unconsolidated joint ventures (5,433) (5,491)
Equity-based compensation expense 6,213 6,105
Amortization of debt discounts, net 413 357
Amortization (accretion) of market rent rate adjustments, net (263) 228
Straight-line rent adjustments (294) 12
Distributions of cumulative earnings from unconsolidated joint ventures 6,613 3,577
Changes in other assets and liabilities:    
Other assets (4,062) 2,945
Accounts payable and accrued expenses (10,936) (22,822)
Net cash provided by operating activities 123,444 103,861
INVESTING ACTIVITIES    
Additions to rental property (27,595) (49,091)
Acquisition of real estate assets (166,596) 0
Net Sales Proceeds 16,634 0
Proceeds from short-term investments 0 6,981
Additions to non-real estate assets (3,077) (5,738)
Distributions in excess of cumulative earnings from unconsolidated joint ventures 2,266 1,617
Additions to deferred lease costs (2,524) (1,191)
Payments for other investing activities (7,678) (2,774)
Proceeds from other investing activities 3,039 2,557
Net cash used in investing activities (185,531) (47,639)
FINANCING ACTIVITIES    
Cash dividends paid (65,368) (59,671)
Distributions to noncontrolling interests in Operating Partnership 2,657 2,605
Proceeds from revolving credit facility 205,000 219,000
Repayments of revolving credit facility (113,000) (197,000)
Proceeds from notes, mortgages and loans 10,000 0
Repayments of notes, mortgages and loans (738) (2,519)
Employee income taxes paid related to shares withheld upon vesting of equity awards (7,261) (10,524)
Additions to deferred financing costs (544) (6,876)
Proceeds from exercise of options 43 533
Payment for other financing activities (574) (574)
Contributions from noncontrolling interests in other consolidated partnerships 0 80
Net cash provided by (used in) financing activities 24,901 (60,156)
Effect of foreign currency rate changes on cash and cash equivalents (65) 216
Net decrease in cash and cash equivalents (37,251) (3,718)
Cash and cash equivalents, beginning of period 46,992 12,778
Cash and cash equivalents, end of period $ 9,741 $ 9,060