TANGER FACTORY OUTLET CENTERS, INC (SKT) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K/A	10-K	8-K	10-K	10-K
Revenues:
Base rentals						324.0	308.4	289.7
Expense reimbursements						142.8	133.8	126.5
Other						21.4	23.7	23.2
Total revenues [+]	0.0	0.0	0.0	0.0	0.0	488.2	465.8	439.4
Tenant reimbursements							133.8	126.5
Lease / rental							308.4	289.7
Other						9.1
Other income							8.6	7.6
Revenue growth [+]					-100.0%	4.8%	6.0%	5.0%
Base rentals						5.1%	6.4%	5.5%
Expense reimbursements						6.7%	5.8%	3.2%
Cost of goods sold [+]	0.0	0.0	0.0	0.0	0.0	148.8	180.6	172.7
Maintenance and operations costs							152.0	146.5
Gross profit	0.0	0.0	0.0	0.0	0.0	339.4	285.3	266.7
Gross margin						69.5%	61.2%	60.7%
Selling, general and administrative [+]						44.0	46.7	44.5
General and administrative	0.0	0.0	0.0	0.0	0.0	44.0	46.7	44.5
Equity in earnings						1.9	10.9	11.5
Other operating expenses							-28.5	-26.2
EBITDA [+]						297.3	278.0	259.9
EBITDA growth					-100.0%	7.0%	7.0%	6.8%
EBITDA margin						60.9%	59.7%	59.1%
Depreciation and amortization						127.7	115.4	103.9
EBIT [+]	0.0	0.0	0.0	0.0	0.0	169.6	162.6	155.9
EBIT growth					-100.0%	4.3%	4.3%	10.7%
EBIT margin						34.7%	34.9%	35.5%
Non-recurring items [+]						6.9	0.5
Loss (gain) on sale of assets						6.9
Interest expense						64.8	60.7	54.2
Interest expense						64.8	60.7	54.2
Other income (expense), net [+]						-26.0	92.0	108.9
Gain (loss) on sale of assets				43.4			6.3	120.4
Gain (loss) on debt retirement						-35.6
Extraordinary gain							95.5
Other						2.7	1.0	0.0
Pre-tax income	0.0	0.0	0.0	0.0	0.0	71.9	193.5	210.7
Income taxes	0.0	0.0	0.0	0.0	0.0	0.0	-0.3	-0.5
Tax rate						0.0%
Minority interest							-10.3	-11.3
Net income	82.1	9.1	-36.3	87.9	43.7	71.9	214.6	233.5
Net margin						14.7%	46.1%	53.1%

Basic EPS [+]	$0.39	$0.04	($0.19)	$0.46	$0.23	$0.71	$2.26	$2.47
Growth	772.4%	-123.2%	-141.4%	102.3%	-67.9%	-68.5%	-8.5%	181.3%
Diluted EPS [+]	$0.38	$0.04	($0.19)	$0.46	$0.23	$0.71	$2.25	$2.46
Growth	769.7%	-122.9%	-141.4%	102.3%	-67.9%	-68.5%	-8.7%	181.3%

Dividends per share [+]							$1.26	$1.31
Growth						-100.0%	-3.4%	38.1%

Shares outstanding (basic) [+]	212.1	205.6	190.1	190.6	191.6	101.2	95.1	94.7
Growth	3.2%	8.1%	-0.2%	-0.5%	89.3%	6.4%	0.4%	1.0%
Shares outstanding (diluted) [+]	216.0	208.7	190.1	190.6	191.6	101.2	95.3	94.8
Growth	3.5%	9.8%	-0.2%	-0.5%	89.3%	6.2%	0.6%	1.0%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.