Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

August 2, 2018

Exhibit 12.2

TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
Ratio of Earnings to Fixed Charges
(in thousands, except ratios)

 
Six months ended June 30,
 
2018
 
2017
Earnings:
 
 
 
Income before equity in earnings (losses) of unconsolidated joint ventures and noncontrolling interests  (1)
$
43,575

 
$
49,769

Add:
 
 
 
Distributed income of unconsolidated joint ventures
4,332

 
4,952

Amortization of capitalized interest
385

 
340

Interest expense
31,981

 
33,007

Portion of rent expense - interest factor
1,189

 
1,201

Total earnings
81,462

 
89,269

 
 
 
 
Fixed charges:
 
 
 
Interest expense
31,981

 
33,007

Capitalized interest and capitalized amortization of debt issue costs
76

 
1,247

Portion of rent expense - interest factor
1,189

 
1,201

Total fixed charges
$
33,246

 
$
35,455

 
 
 
 
Ratio of earnings to fixed charges
2.5

 
2.5

 
 
 
 
Earnings:
 
 
 
Income before equity in earnings (losses) of unconsolidated joint ventures and noncontrolling interests (1)
$
43,575

 
$
49,769

Add:
 
 
 
Distributed income of unconsolidated joint ventures
4,332

 
4,952

Amortization of capitalized interest
385

 
340

Interest expense
31,981

 
33,007

Portion of rent expense - interest factor
1,189

 
1,201

Total earnings
81,462

 
89,269

 
 
 
 
Fixed charges and preferred unit distributions:
 
 
 
Interest expense
31,981

 
33,007

Capitalized interest and capitalized amortization of debt issue costs
76

 
1,247

Portion of rent expense - interest factor
1,189

 
1,201

Preferred unit distributions

 

 
 
 
 
Total combined fixed charges and preferred unit distributions
$
33,246

 
$
35,455

 
 
 
 
Ratio of earnings to combined fixed charges and preferred unit distributions
2.5

 
2.5


 

(1)
Income before equity in earnings of unconsolidated joint ventures and noncontrolling interests includes a $6.9 million gain on the sale of our outlet center in Westbrook, Connecticut for the period ended June 30, 2017.