← TANGER INC.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income | $427.8m | $143.8m | $91.1m | $185.5m | ($76.0m) | $19.1m | $171.7m | $207.8m | $205.5m | $239.0m | |
| Net Income From Continuing Operations | — | — | — | — | — | — | $85.8m | $103.9m | $102.8m | $119.5m | |
| Depreciation and amortization | $263.6m | $255.5m | $263.4m | $246.6m | $234.3m | $220.0m | $223.8m | $217.8m | $277.4m | $302.0m | |
| Amortization of deferred financing costs | $6.5m | $6.5m | $6.1m | $6.0m | $7.2m | $8.0m | $6.3m | $6.4m | $7.0m | $7.5m | |
| Amortization of debt (premiums) and discounts, net | $2.6m | $924k | $832k | $896k | $964k | $884k | $1.0m | $1.2m | $1.5m | $642k | |
| Amortization of market rent rate adjustments, net | $6.6m | $5.7m | $5.2m | $2.9m | $5.4m | $586k | $2.8m | $1.3m | $1.1m | ($678k) | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $111.9m | $108.9m | $138.7m | $151.0m | |
| Impairment charge | $0 | $0 | $99.5m | $75.2m | $134.5m | $14.0m | $0 | $0 | $0 | $8.5m | |
| Asset Impairment Charge | — | — | — | — | — | — | $0 | $0 | $0 | $4.2m | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | — | ($8.6m) | ($8.2m) | ($11.3m) | ($13.6m) | |
| Equity in earnings of unconsolidated joint ventures | ($21.7m) | ($3.9m) | ($1.8m) | ($15.7m) | ($2.3m) | ($17.8m) | ($17.2m) | ($16.5m) | ($22.6m) | ($27.2m) | |
| Equity-based compensation expense | $30.6m | $27.2m | $29.3m | $36.2m | $25.0m | $25.5m | $25.9m | $25.0m | $24.0m | $25.5m | |
| Straight-line rent adjustments | ($14.0m) | ($11.3m) | ($11.7m) | ($15.4m) | $6.7m | $3.9m | $3.4m | $4.5m | ($1.2m) | ($6.8m) | |
| Distributions of cumulative earnings from unconsolidated joint ventures | $27.3m | $21.4m | $15.9m | $15.2m | $7.0m | $18.5m | $17.4m | $16.8m | $17.4m | $27.1m | |
| Other non-cash | — | $0 | $0 | $7.3m | $0 | $7.3m | ($4.8m) | $1.2m | $1.3m | $0 | |
| Other assets | ($1.2m) | $846k | $3.8m | ($8.3m) | ($10.5m) | $10.0m | $870k | $6.7m | $3.7m | ($38.8m) | |
| Accounts payable and accrued expenses | $6.3m | $2.3m | $15.0m | ($8.6m) | $1.9m | $29.6m | $2.6m | ($13.0m) | $6.2m | $54.1m | |
| Additions to rental property | ($330.1m) | ($332.5m) | ($128.5m) | ($95.8m) | ($57.1m) | ($90.4m) | ($154.6m) | ($376.4m) | ($200.9m) | ($180.4m) | |
| Additions to investments in unconsolidated joint ventures | ($65.9m) | ($11.8m) | ($3.8m) | ($4.6m) | ($21.2m) | ($14.0m) | ($626k) | ($5.2m) | $0 | $0 | |
| Net proceeds from sale of real estate assets | $57.4m | $78.4m | $0 | $128.5m | $128.5m | $16.3m | $24.8m | $0 | $0 | $33.3m | |
| Acquisition of real estate assets | — | — | — | — | — | $0 | $0 | ($519.4m) | ($152.3m) | ($366.0m) | |
| Additions to short-term investments | — | — | — | — | $0 | $0 | ($104.9m) | ($15.4m) | $0 | $0 | |
| Proceeds from short-term investments | — | — | — | — | — | $0 | $0 | $101.9m | $18.4m | $0 | |
| Distributions in excess of cumulative earnings from unconsolidated joint ventures | $120.5m | $50.2m | $50.5m | $35.6m | $18.1m | $39.1m | $24.1m | $14.4m | $7.5m | $6.5m | |
| Additions to non-real estate assets | ($13.0m) | ($17.8m) | ($2.7m) | ($2.3m) | ($3.7m) | ($6.3m) | ($14.9m) | ($21.5m) | ($15.2m) | ($11.7m) | |
| Additions to deferred lease costs | ($14.0m) | ($13.2m) | ($13.4m) | ($10.3m) | ($6.1m) | ($10.2m) | ($5.1m) | ($6.2m) | ($5.5m) | ($9.9m) | |
| Proceeds from revolving credit facility | $1.7b | $1.4b | $983.8m | $565.7m | $1.3b | $0 | $0 | $166.0m | $524.0m | $658.0m | |
| Repayments of revolving credit facility | ($1.9b) | ($1.1b) | ($1.1b) | ($855.9m) | ($1.3b) | $0 | $0 | ($140.0m) | ($550.0m) | ($570.0m) | |
| Proceeds from notes, mortgages and loans | $874.8m | $598.9m | $50.0m | $0 | $0 | $788.4m | $73.1m | $0 | $0 | $20.0m | |
| Repayments of notes, mortgages and loans | ($660.7m) | ($746.5m) | ($23.6m) | ($6.7m) | ($7.1m) | ($1.1b) | ($8.9m) | ($9.5m) | ($10.3m) | ($3.0m) | |
| Additions to deferred financing costs | ($11.0m) | ($5.7m) | ($8.9m) | ($230k) | ($3.8m) | ($17.5m) | ($6.5m) | ($262k) | ($13.8m) | ($1.2m) | |
| Proceeds from exercise of options | $3.5m | $108k | $0 | $0 | $0 | $532k | $176k | $2.5m | $2.6m | $868k | |
| Proceeds from the Company’s common share offering | — | — | — | $0 | $0 | $187.0m | $0 | $88.9m | $114.5m | $69.3m | |
| Beginning Cash Position | — | — | — | — | — | — | $161.3m | $212.1m | $12.8m | $47.0m | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | ($64.2m) | ($19.3m) | ($48.3m) | ($25.6m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($98.8m) | ($409.6m) | ($178.0m) | ($263.5m) | |
| Change In Other Current Assets | — | — | — | — | — | — | $276k | $3.4m | $1.8m | ($19.3m) | |
| Change In Payables And Accrued Expense | — | — | — | — | — | — | $1.5m | ($6.5m) | $3.2m | $26.9m | |
| Change In Working Capital | — | — | — | — | — | — | $1.8m | ($3.1m) | $5.0m | $7.6m | |
| Changes In Cash | — | — | — | — | — | — | $51.0m | ($199.2m) | $34.3m | $6.2m | |
| End Cash Position | — | — | — | — | — | — | $212.1m | $12.8m | $47.0m | $53.5m | |
| Financing Cash Flow | — | — | — | — | — | — | ($64.2m) | ($19.3m) | ($48.3m) | ($25.6m) | |
| Free Cash Flow | — | — | — | — | — | — | $214.0m | $229.6m | $260.7m | $295.4m | |
| Investing Cash Flow | — | — | — | — | — | — | ($98.8m) | ($409.6m) | ($178.0m) | ($263.5m) | |
| Issuance Of Capital Stock | — | — | — | — | — | — | $0 | $88.4m | $113.8m | $68.9m | |
| Net Business Purchase And Sale | — | — | — | — | — | — | ($313k) | ($2.6m) | $0 | $0 | |
| Operating Gains Losses | — | — | — | — | — | — | ($11.5m) | ($8.2m) | ($11.3m) | ($13.6m) | |
| Other Non Cash Items | — | — | — | — | — | — | $4.3m | $7.3m | $4.8m | $307k | |
| Proceeds From Stock Option Exercised | — | — | — | — | — | — | $88k | $1.2m | $1.3m | $434k | |
| Purchase Of Business | — | — | — | — | — | — | ($313k) | ($2.6m) | $0 | $0 | |
| Stock Based Compensation | — | — | — | — | — | — | $13.0m | $12.5m | $12.0m | $12.7m | |
| Net cash provided by operating activities | $478.6m | $506.3m | $516.6m | $440.8m | $329.6m | $435.4m | $427.9m | $459.1m | $521.3m | $590.8m | |
| Net Investment Properties Purchase And Sale | — | — | — | — | — | — | ($64.9m) | ($447.9m) | ($176.6m) | ($256.5m) | |
| Net Investment Purchase And Sale | — | — | — | — | — | — | ($52.5m) | $43.3m | $9.2m | $0 | |
| Purchase Of Investment | — | — | — | — | — | — | ($52.5m) | ($7.7m) | $0 | $0 | |
| Purchase Of Investment Properties | — | — | — | — | — | — | ($77.3m) | ($447.9m) | ($176.6m) | ($273.2m) | |
| Sale Of Investment | — | — | — | — | — | — | $0 | $50.9m | $9.2m | $0 | |
| Sale Of Investment Properties | — | — | — | — | — | — | $12.4m | $0 | $0 | $16.6m | |
| Payments for other investing activities | — | — | — | — | $0 | $0 | ($14.6m) | ($4.4m) | ($20.2m) | ($13.1m) | |
| Proceeds from other investing activities | $2.0m | $11.5m | $17.9m | $18.9m | $17.3m | $20.1m | $19.0m | $13.0m | $12.1m | $14.3m | |
| Net Other Investing Changes | — | — | — | — | — | — | $6.8m | ($9.5m) | ($14.4m) | ($10.2m) | |
| Net cash used in investing activities | ($91.0m) | ($235.1m) | ($80.0m) | $198.6m | ($37.5m) | ($45.5m) | ($197.6m) | ($819.1m) | ($356.0m) | ($527.1m) | |
| Issuance Of Debt | — | — | — | — | — | — | $36.6m | $83.0m | $262.0m | $339.0m | |
| Long Term Debt Issuance | — | — | — | — | — | — | $36.6m | $83.0m | $262.0m | $339.0m | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | $32.1m | $8.2m | ($18.1m) | $52.5m | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | $32.1m | $8.2m | ($18.1m) | $52.5m | |
| Net Short Term Debt Issuance | — | — | — | — | — | $0 | $0 | $13.0m | — | — | |
| Short Term Debt Issuance | — | — | — | — | — | $0 | $0 | $83.0m | — | — | |
| Long Term Debt Payments | — | — | — | — | — | — | ($4.4m) | ($74.8m) | ($280.1m) | ($286.5m) | |
| Repayment Of Debt | — | — | — | — | — | — | ($4.4m) | ($74.8m) | ($280.1m) | ($286.5m) | |
| Short Term Debt Payments | — | — | — | — | — | $0 | $0 | ($70.0m) | — | — | |
| Common Stock Issuance | — | — | — | — | — | — | $0 | $88.4m | $113.8m | $68.9m | |
| Net Common Stock Issuance | — | — | — | — | — | — | $0 | $88.4m | $113.8m | $68.9m | |
| Distributions to noncontrolling interests in Operating Partnership | ($7.4m) | ($6.8m) | ($7.0m) | ($7.0m) | ($3.5m) | ($3.4m) | ($3.8m) | ($4.6m) | ($5.1m) | ($5.4m) | |
| Distributions to noncontrolling interests in other consolidated partnerships | ($770k) | — | — | — | — | $0 | $0 | ($496k) | $0 | $0 | |
| Contributions from noncontrolling interests in other consolidated partnerships | — | — | — | — | — | — | $0 | $0 | $80k | $0 | |
| Cash dividends or distributions paid | ($289.6m) | ($267.1m) | ($269.4m) | ($272.3m) | ($136.6m) | ($148.3m) | ($172.2m) | ($212.1m) | ($245.6m) | ($269.8m) | |
| Cash Dividends Paid | — | — | — | — | — | — | ($84.2m) | ($103.8m) | ($120.2m) | ($132.2m) | |
| Common Stock Dividend Paid | — | — | — | — | — | — | ($84.2m) | ($103.8m) | ($120.2m) | ($132.2m) | |
| Dividend Received CFO | — | — | — | — | — | — | $8.7m | $8.4m | $8.7m | $13.5m | |
| Dividends Received CFI | — | — | — | — | — | — | $12.0m | $7.2m | $3.8m | $3.2m | |
| Payment for other financing activities | ($4.7m) | ($2.7m) | ($2.7m) | ($2.8m) | ($2.8m) | ($2.3m) | ($2.3m) | ($2.3m) | ($2.3m) | ($2.3m) | |
| Net Other Financing Charges | — | — | — | — | — | — | ($12.2m) | ($13.4m) | ($25.1m) | ($15.2m) | |
| Net cash provided (used in) by financing activities | ($406.9m) | ($283.4m) | ($430.4m) | ($624.3m) | ($155.2m) | ($236.8m) | ($128.3m) | ($38.6m) | ($96.7m) | ($51.2m) | |
| Effect Of Exchange Rate Changes | — | — | — | — | — | — | ($111k) | ($115k) | ($122k) | $326k | |
| Net increase/(decrease) in cash, cash equivalents and restricted cash | ($261.3m) | ($12.3m) | $5.9m | $15.1m | $136.4m | $152.8m | $101.7m | ($398.8m) | $68.3m | $13.1m | |
| Effect of foreign currency rate changes on cash and cash equivalents | $632k | ($112k) | ($220k) | ($38k) | ($446k) | ($354k) | ($222k) | ($230k) | ($244k) | $652k | |
| Cash, cash equivalents and restricted cash beginning of year | $24.4m | $12.2m | $18.1m | $33.2m | $169.6m | $322.4m | $424.1m | $25.4m | $93.7m | $106.8m | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | $50.9m | ($199.3m) | $34.2m | $6.5m | |
| Employee income taxes paid related to shares withheld upon vesting of equity awards | ($4.4m) | ($4.9m) | ($4.1m) | ($5.0m) | ($1.5m) | ($4.3m) | ($7.8m) | ($14.6m) | ($24.1m) | ($16.1m) |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.