$SKT
Tanger Inc

2024 Q3 Form 10-Q Financial Statement

#000089971524000119 Filed on August 05, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $133.0M $129.0M
YoY Change 13.34% 16.55%
Cost Of Revenue $40.25M $37.55M
YoY Change 9.37% 11.38%
Gross Profit $92.75M $91.41M
YoY Change 15.08% 18.82%
Gross Profit Margin 69.74% 70.88%
Selling, General & Admin $18.22M $18.81M
YoY Change -3.62% 2.78%
% of Gross Profit 19.64% 20.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $35.38M $34.17M
YoY Change 39.28% 34.6%
% of Gross Profit 38.14% 37.39%
Operating Expenses $93.84M $90.54M
YoY Change 15.75% 16.96%
Operating Profit -$1.084M $871.0K
YoY Change 131.13% -282.98%
Interest Expense -$15.49M $15.70M
YoY Change -232.55% 31.21%
% of Operating Profit 1802.53%
Other Income/Expense, Net -$15.55M -$15.48M
YoY Change 58.8% 60.55%
Pretax Income $23.62M $22.94M
YoY Change -10.84% -2.77%
Income Tax
% Of Pretax Income
Net Earnings $24.86M $24.84M
YoY Change -10.02% 2.64%
Net Earnings / Revenue 18.69% 19.26%
Basic Earnings Per Share $0.23 $0.23
Diluted Earnings Per Share $0.22 $0.22
COMMON SHARES
Basic Shares Outstanding 109.4M shares 109.4M shares
Diluted Shares Outstanding 110.7M shares 110.2M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.05M $9.060M
YoY Change -94.14% -95.75%
Cash & Equivalents $11.05M $9.060M
Short-Term Investments
Other Short-Term Assets $117.1M $124.2M
YoY Change 1.5% 21.12%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $128.2M $133.3M
YoY Change -57.82% -57.77%
LONG-TERM ASSETS
Property, Plant & Equipment $1.999B $2.004B
YoY Change 13.48% 15.51%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $70.25M $74.29M
YoY Change -17.84% -17.3%
Other Assets $77.51M $81.86M
YoY Change 43.27% 47.27%
Total Long-Term Assets $2.147B $2.160B
YoY Change 12.92% 14.88%
TOTAL ASSETS
Total Short-Term Assets $128.2M $133.3M
Total Long-Term Assets $2.147B $2.160B
Total Assets $2.275B $2.294B
YoY Change 3.17% 4.44%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $86.76M $85.99M
YoY Change -12.36% -6.43%
Accrued Expenses $85.08M $85.42M
YoY Change -1.76% -1.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $171.8M $171.4M
YoY Change -7.41% -4.14%
LONG-TERM LIABILITIES
Long-Term Debt $1.424B $1.460B
YoY Change -0.17% 2.29%
Other Long-Term Liabilities $86.43M $84.55M
YoY Change 7.5% 3.13%
Total Long-Term Liabilities $1.511B $1.545B
YoY Change 0.24% 2.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $171.8M $171.4M
Total Long-Term Liabilities $1.511B $1.545B
Total Liabilities $1.683B $1.716B
YoY Change -0.6% 1.65%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $1.102M $1.094M
YoY Change 4.65% 3.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $568.3M $553.7M
YoY Change
Total Liabilities & Shareholders Equity $2.275B $2.294B
YoY Change 3.17% 4.44%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $24.86M $24.84M
YoY Change -10.02% 2.64%
Depreciation, Depletion And Amortization $35.38M $34.17M
YoY Change 39.28% 34.6%
Cash From Operating Activities $72.78M
YoY Change -0.77%
INVESTING ACTIVITIES
Capital Expenditures $27.64M
YoY Change -42.01%
Acquisitions
YoY Change
Other Investing Activities $6.295M
YoY Change -56.56%
Cash From Investing Activities -$21.34M
YoY Change -35.65%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -50.82M
YoY Change 71.47%
NET CHANGE
Cash From Operating Activities 72.78M
Cash From Investing Activities -21.34M
Cash From Financing Activities -50.82M
Net Change In Cash 620.0K
YoY Change -94.12%
FREE CASH FLOW
Cash From Operating Activities $72.78M
Capital Expenditures $27.64M
Free Cash Flow $45.15M
YoY Change 75.73%

Facts In Submission

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us-gaap Amortization Of Financing Costs
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us-gaap Straight Line Rent
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Develop Real Estate Assets
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us-gaap Payments To Acquire Interest In Joint Venture
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3821000 usd
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us-gaap Payments To Minority Shareholders
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us-gaap Payments To Minority Shareholders
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Payments Of Dividends
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us-gaap Proceeds From Long Term Lines Of Credit
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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us-gaap Proceeds From Stock Options Exercised
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skt Payments For Other Financing Activities
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us-gaap Proceeds From Minority Shareholders
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us-gaap Payments Of Distributions To Affiliates
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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9060000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
213002000 usd
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
us-gaap Earnings Per Share Basic
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CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.45
CY2024Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2024Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
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13816 shares
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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us-gaap Nature Of Operations
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Business<div style="text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 retail centers in the United States and Canada. We are a fully-integrated, self-administered and self-managed real estate investment trust, 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 June 30, 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, which were 97% occupied and contained over 2,500 stores representing approximately 660 store brands. 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 June 30, 2024, the Company and its wholly-owned subsidiaries owned 109,353,536 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.
CY2024Q2 skt Numberof Operating Partnership Units Ownedbythe Company
NumberofOperatingPartnershipUnitsOwnedbytheCompany
109353536 shares
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ExchangeRatioofPartnershipUnitsforCommonShares
1
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9060000 usd
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
us-gaap Earnings Per Share Basic
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0.45
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.45
CY2024Q2 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2024Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
13816 shares
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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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:120%">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 retail centers in the United States and Canada. We are a fully-integrated, self-administered and self-managed real estate investment trust, 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 June 30, 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, which were 97% occupied and contained over 2,500 stores representing approximately 660 store brands. 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 June 30, 2024, the Company and its wholly-owned subsidiaries owned 109,353,536 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.
CY2024Q2 skt Numberof Operating Partnership Units Ownedbythe Company
NumberofOperatingPartnershipUnitsOwnedbytheCompany
109353536 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
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CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
109353536 shares
CY2024Q2 skt Exchange Ratioof Partnership Unitsfor Common Shares
ExchangeRatioofPartnershipUnitsforCommonShares
1
CY2024Q2 skt Straight Line Rent Receivable
StraightLineRentReceivable
48900000 usd
CY2023Q4 skt Straight Line Rent Receivable
StraightLineRentReceivable
48900000 usd
CY2024Q2 skt Straight Line Rent Receivable
StraightLineRentReceivable
48900000 usd
CY2024Q2 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
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2700000 usd
CY2023Q4 us-gaap Equity Method Investment Difference Between Carrying Amount And Underlying Equity
EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity
2800000 usd
CY2024Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2975000 usd
CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1706000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5491000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3641000 usd
CY2024Q2 skt Equity Method Investment Companyand Operating Partnership Shareof Real Estate Related Depreciation
EquityMethodInvestmentCompanyandOperatingPartnershipShareofRealEstateRelatedDepreciation
2060000 usd
CY2023Q2 skt Equity Method Investment Companyand Operating Partnership Shareof Real Estate Related Depreciation
EquityMethodInvestmentCompanyandOperatingPartnershipShareofRealEstateRelatedDepreciation
2615000 usd
skt Equity Method Investment Companyand Operating Partnership Shareof Real Estate Related Depreciation
EquityMethodInvestmentCompanyandOperatingPartnershipShareofRealEstateRelatedDepreciation
4600000 usd
skt Equity Method Investment Companyand Operating Partnership Shareof Real Estate Related Depreciation
EquityMethodInvestmentCompanyandOperatingPartnershipShareofRealEstateRelatedDepreciation
5285000 usd
CY2024Q2 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
CY2024Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2975000 usd
CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1706000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
5491000 usd
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3641000 usd
CY2024Q2 skt Equity Method Investment Companyand Operating Partnership Shareof Real Estate Related Depreciation
EquityMethodInvestmentCompanyandOperatingPartnershipShareofRealEstateRelatedDepreciation
2060000 usd
CY2023Q2 skt Equity Method Investment Companyand Operating Partnership Shareof Real Estate Related Depreciation
EquityMethodInvestmentCompanyandOperatingPartnershipShareofRealEstateRelatedDepreciation
2615000 usd
skt Equity Method Investment Companyand Operating Partnership Shareof Real Estate Related Depreciation
EquityMethodInvestmentCompanyandOperatingPartnershipShareofRealEstateRelatedDepreciation
4600000 usd
skt Equity Method Investment Companyand Operating Partnership Shareof Real Estate Related Depreciation
EquityMethodInvestmentCompanyandOperatingPartnershipShareofRealEstateRelatedDepreciation
5285000 usd
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.275
CY2021Q1 skt At Market Stock Aggregate Gross Sales Price Of Common Shares
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250000000 usd
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
0 shares
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
0 shares
CY2023Q2 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 usd
CY2023Q2 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
80000000 usd
CY2023Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
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us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2024Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0 shares
CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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100000000 usd
CY2024Q2 us-gaap Common Stock Dividends Per Share Declared
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0.275
CY2024Q2 us-gaap Distributions Per Limited Partnership Unit Outstanding
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0.275
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
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CY2021Q1 skt At Market Stock Aggregate Gross Sales Price Of Common Shares
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250000000 usd
CY2024Q2 skt At Market Stock Remaining Available For Sale
AtMarketStockRemainingAvailableForSale
220100000 usd
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
0 shares
us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
0 shares
CY2023Q2 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000 usd
CY2023Q2 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
80000000 usd
CY2023Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
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us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
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CY2024Q2 us-gaap Stock Repurchased During Period Shares
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us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
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CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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100000000 usd
CY2024Q2 us-gaap Net Income Loss
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24840000 usd
CY2023Q2 us-gaap Net Income Loss
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24202000 usd
us-gaap Net Income Loss
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47253000 usd
us-gaap Net Income Loss
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47743000 usd
CY2024Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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229000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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460000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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456000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
24611000 usd
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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23945000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
46793000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
47287000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
108683000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
104367000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
108526000 shares
CY2024Q2 skt Incremental Common Shares Attributable To Notional Units
IncrementalCommonSharesAttributableToNotionalUnits
600000 shares
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
24840000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
24202000 usd
us-gaap Net Income Loss
NetIncomeLoss
47253000 usd
us-gaap Net Income Loss
NetIncomeLoss
47743000 usd
CY2024Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
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229000 usd
CY2023Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
257000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
460000 usd
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
456000 usd
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
24611000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
46793000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
47287000 usd
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
108683000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
104367000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q2 skt Incremental Common Shares Attributable To Notional Units
IncrementalCommonSharesAttributableToNotionalUnits
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CY2023Q2 skt Incremental Common Shares Attributable To Notional Units
IncrementalCommonSharesAttributableToNotionalUnits
722000 shares
skt Incremental Common Shares Attributable To Notional Units
IncrementalCommonSharesAttributableToNotionalUnits
582000 shares
skt Incremental Common Shares Attributable To Notional Units
IncrementalCommonSharesAttributableToNotionalUnits
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CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
910000 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
110193000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.45
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3381000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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CY2024Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
79000 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
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us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
153000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
123000 usd
CY2023Q2 skt Incremental Common Shares Attributable To Notional Units
IncrementalCommonSharesAttributableToNotionalUnits
722000 shares
skt Incremental Common Shares Attributable To Notional Units
IncrementalCommonSharesAttributableToNotionalUnits
582000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
916000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
758000 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
110193000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
105862000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
110024000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
105654000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.45
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.22
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.23
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.45
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2609000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3381000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6105000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5652000 usd
CY2024Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
79000 usd
CY2023Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
71000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
123000 usd
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
-3000000 usd
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
-3000000 usd
us-gaap Interest Paid Net
InterestPaidNet
20527000 usd
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
-3000000 usd
CY2023Q2 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000.0 usd
CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
100000000 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0000899715-24-000119.txt Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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report.css Edgar Link pending
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skt-20240630.htm Edgar Link pending
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skt10q06302024ex311.htm Edgar Link pending
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