Form: 10-Q

Quarterly report pursuant to Section 13 or 15(d)

November 4, 2010

Documents


                                   
  TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES  
                                 Exhibit 12.1  
  Ratios of Earnings to Fixed Charges  
  (in thousands, except ratios)  
                                   
                                   
                    Nine Months Ended  
                    Ended September 30,  
                    2010           2009  
                                        
  Income from continuing operations before income from equity investees (1)   $ 23,445         $ 61,042  
                                   
  Add:                          
  Distributed income of unconsolidated joint ventures           568           510  
  Amortization of previously capitalized interest           336           351  
  Interest expense           30,808           29,467  
  Interest portion of rent expense           1,318           1,154  
                                   
  Earnings available for fixed charges         $ 56,475         $ 92,524  
                                   
  Fixed charges:                          
  Interest expense         $ 30,808         $ 29,467  
  Capitalized interest and capitalized amortization of debt issue costs           1,139           87  
  Interest portion of rent expense           1,318           1,154  
  Total fixed charges         $ 33,265         $ 30,708  
                                   
  Ratio of earnings to fixed charges           1.7           3.0  
                                   
                                   
                                   
  (1) Income from continuing operations before income from equity investees and noncontrolling interest for the nine months ended September 30, 2010 includes: a $6.1 million loss on the termination of two interest rate swap agreements. Income from continuing operations before income from equity investees and noncontrolling interest for the nine months ended September 30, 2009 includes: a $10.5 million gain on early extinguishment of debt from an exchange offer of common shares for convertible debt and a $31.5 million gain on acquisition of previously held unconsolidated joint venture interest.  

                                   
  TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES  
                                   
  Ratios of Earnings to Combined Fixed Charges and Preferred Dividends  
  (in thousands, except ratios)  
                                   
                                   
                    Nine Months Ended  
                    Ended September 30,  
                    2010           2009  
                                   
  Income from continuing operations before income from equity investees (1)   $ 23,445         $ 61,042  
                                   
  Add:                          
  Distributed income of unconsolidated joint ventures           568           510  
  Amortization of previously capitalized interest           336           351  
  Interest expense           30,808           29,467  
  Interest portion of rent expense           1,318           1,154  
                                   
  Earnings available for fixed charges and preferred dividends         $ 56,475         $ 92,524  
                                   
  Fixed charges:                          
  Interest expense         $ 30,808         $ 29,467  
  Capitalized interest and capitalized amortization of debt issue costs           1,139           87  
  Interest portion of rent expense           1,318           1,154  
  Total fixed charges         $ 33,265         $ 30,708  
                                   
  Preferred dividends           4,219           4,219  
                                   
  Total fixed charges and preferred dividends         $ 37,484         $ 34,927  
                                   
  Ratio of earnings to fixed charges and preferred dividends           1.5           2.6  
                                   
                                   
                                   
  (1) Income from continuing operations before income from equity investees and noncontrolling interest for the nine months ended September 30, 2010 includes: a $6.1 million loss on the termination of two interest rate swap agreements. Income from continuing operations before income from equity investees and noncontrolling interest for the nine months ended September 30, 2009 includes: a $10.5 million gain on early extinguishment of debt from an exchange offer of common shares for convertible debt and a $31.5 million gain on acquisition of previously held unconsolidated joint venture interest.  

                                   
  TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES  
                                   
  Ratios of Earnings to Fixed Charges  
  (in thousands, except ratios)  
                                   
                                   
                    Nine Months Ended  
                    Ended September 30,  
                    2010           2009  
                                   
  Income from continuing operations before income from equity investees (1)   $ 23,445         $ 61,042  
                                   
  Add:                          
  Distributed income of unconsolidated joint ventures           568           510  
  Amortization of previously capitalized interest           336           351  
  Interest expense           30,808           29,467  
  Interest portion of rent expense           1,318           1,154  
                                   
  Earnings available for fixed charges         $ 56,475         $ 92,524  
                                   
  Fixed charges:                          
  Interest expense         $ 30,808         $ 29,467  
  Capitalized interest and capitalized amortization of debt issue costs           1,139           87  
  Interest portion of rent expense           1,318           1,154  
  Total fixed charges         $ 33,265         $ 30,708  
                                   
  Ratio of earnings to fixed charges           1.7           3.0  
                                   
                                   
                                   
 

(1) Income from continuing operations before income from equity investees and noncontrolling interest for the nine months ended September 30, 2010 includes: a $6.1 million loss on the termination of two interest rate swap agreements. Income from continuing operations before income from equity investees and noncontrolling interest for the nine months ended September 30, 2009 includes: a $10.5 million gain on early extinguishment of debt from an exchange offer of common shares for convertible debt and a $31.5 million gain on acquisition of previously held unconsolidated joint venture interest.

 

                                   
  TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES  
                                   
  Ratios of Earnings to Combined Fixed Charges and Preferred Distributions  
  (in thousands, except ratios)  
                                   
                                   
                    Nine Months Ended  
                    Ended September 30,  
                    2010           2009  
                                   
  Income from continuing operations before income from equity investees (1)   $ 23,445         $ 61,042  
                                   
  Add:                          
  Distributed income of unconsolidated joint ventures           568           510  
  Amortization of previously capitalized interest           336           351  
  Interest expense           30,808           29,467  
  Interest portion of rent expense           1,318           1,154  
                                   
  Earnings available for fixed charges and preferred dividends         $ 56,475         $ 92,524  
                                   
  Fixed charges:                          
  Interest expense         $ 30,808         $ 29,467  
  Capitalized interest and capitalized amortization of debt issue costs           1,139           87  
  Interest portion of rent expense           1,318           1,154  
  Total fixed charges         $ 33,265         $ 30,708  
                                   
  Preferred distributions           4,219           4,219  
                                   
  Total fixed charges and preferred distributions         $ 37,484         $ 34,927  
                                   
  Ratio of earnings to fixed charges and preferred distributions           1.5           2.6  
                                   
                                   
                                   
  (1) Income from continuing operations before income from equity investees and noncontrolling interest for the nine months ended September 30, 2010 includes: a $6.1 million loss on the termination of two interest rate swap agreements. Income from continuing operations before income from equity investees and noncontrolling interest for the nine months ended September 30, 2009 includes: a $10.5 million gain on early extinguishment of debt from an exchange offer of common shares for convertible debt and a $31.5 million gain on acquisition of previously held unconsolidated joint venture interest.