2024 Q2 Form 10-Q Financial Statement
#000089971524000096 Filed on May 01, 2024
Income Statement
| Concept | 2024 Q2 | 2024 Q1 | 2023 Q4 |
|---|---|---|---|
| Revenue | $129.0M | $123.4M | $127.5M |
| YoY Change | 16.55% | 13.24% | 9.46% |
| Cost Of Revenue | $37.55M | $35.47M | $41.93M |
| YoY Change | 11.38% | 6.99% | 9.18% |
| Gross Profit | $91.41M | $87.91M | $85.55M |
| YoY Change | 18.82% | 15.98% | 9.6% |
| Gross Profit Margin | 70.88% | 71.25% | 67.11% |
| Selling, General & Admin | $18.81M | $19.49M | $21.46M |
| YoY Change | 2.78% | 11.79% | 10.79% |
| % of Gross Profit | 20.58% | 22.17% | 25.08% |
| Research & Development | |||
| YoY Change | |||
| % of Gross Profit | |||
| Depreciation & Amortization | $34.17M | $33.86M | $32.23M |
| YoY Change | 34.6% | 30.77% | -5.19% |
| % of Gross Profit | 37.39% | 38.52% | 37.68% |
| Operating Expenses | $90.54M | $88.82M | $53.69M |
| YoY Change | 16.96% | 16.14% | 0.61% |
| Operating Profit | $871.0K | -$909.0K | $31.86M |
| YoY Change | -282.98% | 33.68% | 29.02% |
| Interest Expense | $15.70M | $14.35M | -$11.93M |
| YoY Change | 31.21% | 16.28% | -1.37% |
| % of Operating Profit | 1802.53% | -37.45% | |
| Other Income/Expense, Net | -$15.48M | -$13.77M | $2.706M |
| YoY Change | 60.55% | 44.25% | 44.32% |
| Pretax Income | $22.94M | $20.79M | $22.64M |
| YoY Change | -2.77% | -9.31% | 30.04% |
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | $24.84M | $22.41M | $23.45M |
| YoY Change | 2.64% | -4.79% | 29.11% |
| Net Earnings / Revenue | 19.26% | 18.17% | 18.4% |
| Basic Earnings Per Share | $0.23 | $0.20 | |
| Diluted Earnings Per Share | $0.22 | $0.20 | $0.22 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 109.4M shares | 108.9M shares | 105.4M shares |
| Diluted Shares Outstanding | 110.2M shares | 110.0M shares |
Balance Sheet
| Concept | 2024 Q2 | 2024 Q1 | 2023 Q4 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $9.060M | $8.137M | $12.78M |
| YoY Change | -95.75% | -95.99% | -93.98% |
| Cash & Equivalents | $9.060M | $8.137M | $12.78M |
| Short-Term Investments | |||
| Other Short-Term Assets | $124.2M | $110.2M | $108.6M |
| YoY Change | 21.12% | 9.26% | -2.3% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | |||
| Other Receivables | |||
| Total Short-Term Assets | $133.3M | $118.3M | $121.4M |
| YoY Change | -57.77% | -61.04% | -62.45% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $2.004B | $2.017B | $2.030B |
| YoY Change | 15.51% | 17.36% | 18.77% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | $74.29M | $79.44M | $81.09M |
| YoY Change | -17.3% | -25.28% | -35.78% |
| Other Assets | $81.86M | $86.44M | $91.27M |
| YoY Change | 47.27% | 52.13% | 55.82% |
| Total Long-Term Assets | $2.160B | $2.183B | $2.203B |
| YoY Change | 14.88% | 16.0% | 16.28% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $133.3M | $118.3M | $121.4M |
| Total Long-Term Assets | $2.160B | $2.183B | $2.203B |
| Total Assets | $2.294B | $2.301B | $2.324B |
| YoY Change | 4.44% | 5.3% | 4.8% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $85.99M | $77.92M | $118.5M |
| YoY Change | -6.43% | -1.86% | 13.14% |
| Accrued Expenses | $85.42M | $85.76M | $86.08M |
| YoY Change | -1.73% | -1.69% | -1.66% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $171.4M | $163.7M | $204.6M |
| YoY Change | -4.14% | -1.77% | 6.4% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $1.460B | $1.472B | $1.439B |
| YoY Change | 2.29% | 3.06% | 0.75% |
| Other Long-Term Liabilities | $84.55M | $86.15M | $89.02M |
| YoY Change | 3.13% | 1.93% | 7.3% |
| Total Long-Term Liabilities | $1.545B | $1.558B | $1.528B |
| YoY Change | 2.33% | 3.0% | 1.11% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $171.4M | $163.7M | $204.6M |
| Total Long-Term Liabilities | $1.545B | $1.558B | $1.528B |
| Total Liabilities | $1.716B | $1.721B | $1.757B |
| YoY Change | 1.65% | 2.52% | 1.81% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | |||
| YoY Change | |||
| Common Stock | $1.094M | $1.094M | $1.088M |
| YoY Change | 3.99% | 3.89% | 4.11% |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $553.7M | $555.8M | $566.8M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $2.294B | $2.301B | $2.324B |
| YoY Change | 4.44% | 5.3% | 4.8% |
Cashflow Statement
| Concept | 2024 Q2 | 2024 Q1 | 2023 Q4 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | $24.84M | $22.41M | $23.45M |
| YoY Change | 2.64% | -4.79% | 29.11% |
| Depreciation, Depletion And Amortization | $34.17M | $33.86M | $32.23M |
| YoY Change | 34.6% | 30.77% | -5.19% |
| Cash From Operating Activities | $72.78M | $31.08M | $77.71M |
| YoY Change | -0.77% | 21.53% | -14.81% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | $27.64M | $27.19M | $331.5M |
| YoY Change | -42.01% | 3.36% | 897.5% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $6.295M | $2.940M | $8.997M |
| YoY Change | -56.56% | -195.73% | -126.29% |
| Cash From Investing Activities | -$21.34M | -$26.30M | -$322.5M |
| YoY Change | -35.65% | 1304.11% | 378.1% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | $29.57M | ||
| YoY Change | 20.1% | ||
| Common Stock Issuance & Retirement, Net | |||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -50.82M | -$9.336M | 69.02M |
| YoY Change | 71.47% | -71.72% | 800.95% |
| NET CHANGE | |||
| Cash From Operating Activities | 72.78M | $31.08M | 77.71M |
| Cash From Investing Activities | -21.34M | -$26.30M | -322.5M |
| Cash From Financing Activities | -50.82M | -$9.336M | 69.02M |
| Net Change In Cash | 620.0K | -$4.641M | -175.7M |
| YoY Change | -94.12% | -50.11% | -659.05% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | $72.78M | $31.08M | $77.71M |
| Capital Expenditures | $27.64M | $27.19M | $331.5M |
| Free Cash Flow | $45.15M | $3.887M | -$253.8M |
| YoY Change | 75.73% | -628.13% | -537.58% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
24860000 | usd |
| CY2023Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
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| CY2023Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
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| CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
23306000 | usd |
| CY2024Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
2335000 | usd |
| CY2024Q1 | skt |
Management Leasing And Other Services Revenue
ManagementLeasingAndOtherServicesRevenue
|
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Management Leasing And Other Services Revenue
ManagementLeasingAndOtherServicesRevenue
|
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Other Income
OtherIncome
|
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Other Income
OtherIncome
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Revenues
Revenues
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Revenues
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Operating Costs And Expenses
OperatingCostsAndExpenses
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Operating Costs And Expenses
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General And Administrative Expense
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General And Administrative Expense
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Depreciation And Amortization
DepreciationAndAmortization
|
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Depreciation And Amortization
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Operating Expenses
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Interest Expense
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Interest Expense
InterestExpense
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Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
587000 | usd |
| CY2023Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
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| CY2024Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
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| CY2023Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
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Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
20790000 | usd |
| CY2023Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
22925000 | usd |
| CY2024Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
2516000 | usd |
| CY2023Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
1935000 | usd |
| CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
23306000 | usd |
| CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
24860000 | usd |
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Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
|
973000 | usd |
| CY2023Q1 | us-gaap |
Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
|
1071000 | usd |
| CY2024Q1 | us-gaap |
Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
|
-80000 | usd |
| CY2023Q1 | us-gaap |
Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
|
248000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
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| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
23541000 | usd |
| CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.20 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.22 | |
| CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.20 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.22 | |
| CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
23306000 | usd |
| CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
24860000 | usd |
| CY2024Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-874000 | usd |
| CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
162000 | usd |
| CY2024Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
|
3209000 | usd |
| CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
|
-3426000 | usd |
| CY2024Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
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| CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
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Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
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| CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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|
21596000 | usd |
| CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
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| CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
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| CY2024Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
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| CY2023Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
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| CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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|
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| CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
24860000 | usd |
| CY2023Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
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| CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
2323000 | usd |
| CY2023Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
2600 | shares |
| CY2023Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
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| CY2023Q1 | us-gaap |
Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
|
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| CY2023Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
0 | usd |
| CY2023Q1 | us-gaap |
Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
|
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| CY2023Q1 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
5649000 | usd |
| CY2023Q1 | skt |
Adjustment For Noncontrolling Interest In Operating Partnership
AdjustmentForNoncontrollingInterestInOperatingPartnership
|
0 | usd |
| CY2023Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.22 | |
| CY2023Q1 | us-gaap |
Dividends Common Stock Cash
DividendsCommonStockCash
|
24623000 | usd |
| CY2023Q1 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
1290000 | usd |
| CY2023Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
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| CY2023Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
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| CY2024Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
3571000 | usd |
| CY2024Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
24100 | shares |
| CY2024Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
438000 | usd |
| CY2024Q1 | us-gaap |
Stock Issued During Period Shares Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodSharesRestrictedStockAwardNetOfForfeitures
|
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| CY2024Q1 | us-gaap |
Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
|
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| CY2024Q1 | us-gaap |
Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
|
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| CY2024Q1 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
10524000 | usd |
| CY2024Q1 | us-gaap |
Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
|
80000 | usd |
| CY2024Q1 | skt |
Adjustment For Noncontrolling Interest In Operating Partnership
AdjustmentForNoncontrollingInterestInOperatingPartnership
|
0 | usd |
| CY2024Q1 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.26 | |
| CY2024Q1 | us-gaap |
Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
|
1224000 | usd |
| CY2024Q1 | us-gaap |
Profit Loss
ProfitLoss
|
23306000 | usd |
| CY2024Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
33860000 | usd |
| CY2023Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
25893000 | usd |
| CY2024Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
832000 | usd |
| CY2023Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
808000 | usd |
| CY2024Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
2516000 | usd |
| CY2023Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
1935000 | usd |
| CY2024Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
3497000 | usd |
| CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2271000 | usd |
| CY2024Q1 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
174000 | usd |
| CY2023Q1 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
144000 | usd |
| CY2024Q1 | skt |
Net Accretion Of Market Rent Rate Adjustment
NetAccretionOfMarketRentRateAdjustment
|
95000 | usd |
| CY2023Q1 | skt |
Net Accretion Of Market Rent Rate Adjustment
NetAccretionOfMarketRentRateAdjustment
|
134000 | usd |
| CY2024Q1 | us-gaap |
Straight Line Rent
StraightLineRent
|
-511000 | usd |
| CY2023Q1 | us-gaap |
Straight Line Rent
StraightLineRent
|
-680000 | usd |
| CY2024Q1 | us-gaap |
Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
|
1604000 | usd |
| CY2023Q1 | us-gaap |
Equity Method Investment Dividends Or Distributions
EquityMethodInvestmentDividendsOrDistributions
|
2007000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-7026000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
|
-6064000 | usd |
| CY2024Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-37308000 | usd |
| CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-35352000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
31081000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
25574000 | usd |
| CY2024Q1 | us-gaap |
Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
|
24816000 | usd |
| CY2023Q1 | us-gaap |
Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
|
25940000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
1448000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Sale Of Short Term Investments
ProceedsFromSaleOfShortTermInvestments
|
19504000 | usd |
| CY2024Q1 | us-gaap |
Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
|
2378000 | usd |
| CY2023Q1 | us-gaap |
Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
|
370000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
|
1002000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
|
2556000 | usd |
| CY2024Q1 | skt |
Additions To Deferred Lease Costs
AdditionsToDeferredLeaseCosts
|
498000 | usd |
| CY2023Q1 | skt |
Additions To Deferred Lease Costs
AdditionsToDeferredLeaseCosts
|
694000 | usd |
| CY2024Q1 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
2940000 | usd |
| CY2023Q1 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
0 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
|
1883000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Sale Of Other Assets Investing Activities
ProceedsFromSaleOfOtherAssetsInvestingActivities
|
3071000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-26299000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1873000 | usd |
| CY2024Q1 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
29572000 | usd |
| CY2023Q1 | us-gaap |
Payments Of Dividends
PaymentsOfDividends
|
24623000 | usd |
| CY2024Q1 | us-gaap |
Payments To Minority Shareholders
PaymentsToMinorityShareholders
|
1224000 | usd |
| CY2023Q1 | us-gaap |
Payments To Minority Shareholders
PaymentsToMinorityShareholders
|
1042000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
|
117000000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
|
0 | usd |
| CY2024Q1 | us-gaap |
Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
|
84000000 | usd |
| CY2023Q1 | us-gaap |
Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
|
0 | usd |
| CY2024Q1 | us-gaap |
Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
|
1247000 | usd |
| CY2023Q1 | us-gaap |
Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
|
1160000 | usd |
| CY2024Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
10524000 | usd |
| CY2023Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
5649000 | usd |
| CY2024Q1 | skt |
Payments For Proceeds From Financing Costs Net
PaymentsForProceedsFromFinancingCostsNet
|
0 | usd |
| CY2023Q1 | skt |
Payments For Proceeds From Financing Costs Net
PaymentsForProceedsFromFinancingCostsNet
|
17000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
438000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
15000 | usd |
| CY2024Q1 | skt |
Payments For Other Financing Activities
PaymentsForOtherFinancingActivities
|
287000 | usd |
| CY2023Q1 | skt |
Payments For Other Financing Activities
PaymentsForOtherFinancingActivities
|
287000 | usd |
| CY2024Q1 | us-gaap |
Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
|
80000 | usd |
| CY2023Q1 | us-gaap |
Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
|
0 | usd |
| CY2024Q1 | us-gaap |
Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
|
0 | usd |
| CY2023Q1 | us-gaap |
Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
|
248000 | usd |
| CY2024Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-9336000 | usd |
| CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-33011000 | usd |
| CY2024Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-87000 | usd |
| CY2023Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
7000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-4641000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-9303000 | usd |
| CY2023Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
12778000 | usd |
| CY2022Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
212124000 | usd |
| CY2024Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
8137000 | usd |
| CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
202821000 | usd |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.22 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.22 | |
| CY2024Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
Business<div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">Tanger Inc. and its subsidiaries, which we refer to as the Company, is one of the leading owners and operators of outlet and open-air centers in the United States and Canada. We are a fully-integrated, self-administered and self-managed real estate investment trust (“REIT”) which, through our controlling interest in Tanger Properties Limited Partnership and its subsidiaries, which we refer to as the Operating Partnership, focuses on developing, acquiring, owning, operating and managing outlet and open-air shopping centers. As of March 31, 2024, we owned and operated 31 consolidated outlet centers and one open-air lifestyle center, with a total gross leasable area of approximately 12.7 million square feet, </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%">which were 97% occupied and contained over 2,400 stores representing approximately 660 store brands.</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:112%"> We also had partial ownership interests in 6 unconsolidated centers totaling approximately 2.1 million square feet, including 2 centers in Canada. The portfolio also includes two managed centers, totaling approximately 760,000 square feet. Each of our centers, except one joint venture center, features the Tanger brand name. All references to gross leasable area, square feet, occupancy, stores and store brands contained in the notes to the consolidated financial statements are unaudited.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our shopping centers and other assets are held by, and all of our operations are conducted by the Operating Partnership. Accordingly, the descriptions of our business, employees and assets are also descriptions of the business, employees and assets of the Operating Partnership. Unless the context indicates otherwise, the term “Company” refers to Tanger Inc. and subsidiaries and the term “Operating Partnership” refers to Tanger Properties Limited Partnership and subsidiaries. The terms “we”, “our” and “us” refer to the Company or the Company and the Operating Partnership together, as the text requires. On November 16, 2023, we changed our legal name from Tanger Factory Outlet Centers, Inc. to Tanger, Inc. We refer to Tanger Inc.’s current legal name throughout this Quarterly Report on Form 10-Q.</span></div>The Company, including its wholly-owned subsidiary, Tanger LP Trust, owns the majority of the units of partnership interest issued by the Operating Partnership. The Company controls the Operating Partnership as its sole general partner. Tanger LP Trust holds a limited partnership interest. As of March 31, 2024, the Company and its wholly-owned subsidiaries owned 109,366,452 units of the Operating Partnership and other limited partners (the “Non-Company LPs”) collectively owned 4,707,958 Class A common limited partnership units. Each Class A common limited partnership unit held by the Non-Company LPs is exchangeable for one of the Company’s common shares, subject to certain limitations to preserve the Company’s REIT status. Class B common limited partnership units of the Operating Partnership, which are held by Tanger LP Trust, are not exchangeable for common shares of the Company. | |
| CY2024Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
109366452 | shares |
| CY2024Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
109366452 | shares |
| CY2024Q1 | skt |
Numberof Operating Partnership Units Ownedbythe Company
NumberofOperatingPartnershipUnitsOwnedbytheCompany
|
109366452 | shares |
| CY2024Q1 | skt |
Exchange Ratioof Partnership Unitsfor Common Shares
ExchangeRatioofPartnershipUnitsforCommonShares
|
1 | |
| CY2024Q1 | skt |
Straight Line Rent Receivable
StraightLineRentReceivable
|
48400000 | usd |
| CY2024Q1 | us-gaap |
Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
|
2700000 | usd |
| CY2023Q4 | us-gaap |
Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
|
2800000 | usd |
| CY2024Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
2516000 | usd |
| CY2023Q1 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
1935000 | usd |
| CY2024Q1 | skt |
Equity Method Investment Companyand Operating Partnership Shareof Real Estate Related Depreciation
EquityMethodInvestmentCompanyandOperatingPartnershipShareofRealEstateRelatedDepreciation
|
2540000 | usd |
| CY2023Q1 | skt |
Equity Method Investment Companyand Operating Partnership Shareof Real Estate Related Depreciation
EquityMethodInvestmentCompanyandOperatingPartnershipShareofRealEstateRelatedDepreciation
|
2670000 | usd |
| CY2023Q2 | us-gaap |
Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
|
0.26 | |
| CY2023Q2 | us-gaap |
Distributions Per Limited Partnership Unit Outstanding
DistributionsPerLimitedPartnershipUnitOutstanding
|
0.26 | |
| CY2021Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2021Q1 | skt |
At Market Stock Aggregate Gross Sales Price Of Common Shares
AtMarketStockAggregateGrossSalesPriceOfCommonShares
|
250000000 | usd |
| CY2024Q1 | skt |
At Market Stock Remaining Available For Sale
AtMarketStockRemainingAvailableForSale
|
220100000 | usd |
| CY2023Q1 | us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
0 | shares |
| CY2024Q1 | us-gaap |
Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
|
0 | shares |
| CY2023Q2 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
100000000 | usd |
| CY2023Q2 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
80000000 | usd |
| CY2023Q1 | us-gaap |
Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
|
0 | shares |
| CY2024Q1 | us-gaap |
Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
|
0 | shares |
| CY2024Q1 | us-gaap |
Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
|
100000000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
22413000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
23541000 | usd |
| CY2024Q1 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
231000 | usd |
| CY2023Q1 | us-gaap |
Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
|
199000 | usd |
| CY2024Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
22182000 | usd |
| CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
23342000 | usd |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
108369000 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
104088000 | shares |
| CY2024Q1 | skt |
Incremental Common Shares Attributable To Notional Units
IncrementalCommonSharesAttributableToNotionalUnits
|
731000 | shares |
| CY2023Q1 | skt |
Incremental Common Shares Attributable To Notional Units
IncrementalCommonSharesAttributableToNotionalUnits
|
693000 | shares |
| CY2024Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
923000 | shares |
| CY2023Q1 | us-gaap |
Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
|
741000 | shares |
| CY2024Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
110023000 | shares |
| CY2023Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
105522000 | shares |
| CY2024Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.20 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.22 | |
| CY2024Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.20 | |
| CY2023Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.22 | |
| CY2024Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
3497000 | usd |
| CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2271000 | usd |
| CY2024Q1 | us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
74000 | usd |
| CY2023Q1 | us-gaap |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
|
52000 | usd |
| CY2023Q1 | skt |
Expenditures Included In Construction Trade Payables
ExpendituresIncludedInConstructionTradePayables
|
30331000 | usd |
| CY2024Q1 | us-gaap |
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
|
-3100000 | usd |
| CY2024Q1 | us-gaap |
Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
|
-3100000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
|
95979000 | usd |
| CY2023Q1 | us-gaap |
Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
|
81887000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
|
21830000 | usd |
| CY2023Q1 | us-gaap |
Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
|
21695000 | usd |
| CY2024Q1 | us-gaap |
Operating Lease Lease Income
OperatingLeaseLeaseIncome
|
117809000 | usd |
| CY2023Q1 | us-gaap |
Operating Lease Lease Income
OperatingLeaseLeaseIncome
|
103582000 | usd |
| CY2024Q1 | skt |
Expenditures Included In Construction Trade Payables
ExpendituresIncludedInConstructionTradePayables
|
23587000 | usd |
| CY2024Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
20640000 | usd |
| CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
18352000 | usd |
| CY2023Q2 | us-gaap |
Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
|
100000000 | usd |
| CY2024Q1 | us-gaap |
Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
|
100000000 | usd |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
|
false | |
| CY2024Q1 | ecd |
Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
|
false | |
| CY2024Q1 | ecd |
Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
|
false | |
| CY2024Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
579723000 | usd |
