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Schedule III | 12 Months Ended
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Dec. 31, 2012
Real Estate and Accumulated Depreciation Disclosure [Abstract] |
Real Estate and Accumulated Depreciation Disclosure |
TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES
TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
For the Year Ended December 31, 2012 (in thousands)
Description |  |  |  | Initial cost to Company |  | Costs Capitalized Subsequent to Acquisition (Improvements) |  | Gross Amount Carried at Close of Period December 31, 2012 (1) |  |  |  |  |  |
Outlet Center Name |  | Location |  | Encum-brances |  | Land |  | Buildings, Improve-ments & Fixtures |  | Land |  | Buildings, Improve-ments & Fixtures |  | Land |  | Buildings, Improve-ments & Fixtures |  | Total |  | Accumulated Depreciation |  | Date of Construction |  | Life Used to Compute Depreciation in Income Statement
Atlantic City |  | Atlantic City, NJ |  | $ | 56,707 |  |  | $ | — |  |  | $ | 125,988 |  |  | $ | — |  |  | $ | 1,153 |  |  | $ | — |  |  | $ | 127,141 |  |  | $ | 127,141 |  |  | $ | 7,066 |  |  | 2011 (3) |  | (2)
Barstow |  | Barstow, CA |  | — |  |  | 3,281 |  |  | 12,533 |  |  | — |  |  | 19,796 |  |  | 3,281 |  |  | 32,329 |  |  | 35,610 |  |  | 16,362 |  |  | 1995 |  | (2)
Blowing Rock |  | Blowing Rock, NC |  | — |  |  | 1,963 |  |  | 9,424 |  |  | — |  |  | 5,185 |  |  | 1,963 |  |  | 14,609 |  |  | 16,572 |  |  | 7,221 |  |  | 1997 (3) |  | (2)
Branson |  | Branson, MO |  | — |  |  | 4,407 |  |  | 25,040 |  |  | 396 |  |  | 13,974 |  |  | 4,803 |  |  | 39,014 |  |  | 43,817 |  |  | 23,770 |  |  | 1994 |  | (2)
Charleston |  | Charleston, SC |  | — |  |  | 10,353 |  |  | 48,877 |  |  | — |  |  | 7,763 |  |  | 10,353 |  |  | 56,640 |  |  | 66,993 |  |  | 16,618 |  |  | 2006 |  | (2)
Commerce II |  | Commerce, GA |  | — |  |  | 1,262 |  |  | 14,046 |  |  | 707 |  |  | 30,199 |  |  | 1,969 |  |  | 44,245 |  |  | 46,214 |  |  | 24,736 |  |  | 1995 |  | (2)
Foley |  | Foley, AL |  | — |  |  | 4,400 |  |  | 82,410 |  |  | 693 |  |  | 40,549 |  |  | 5,093 |  |  | 122,959 |  |  | 128,052 |  |  | 34,349 |  |  | 2003 (3) |  | (2)
Gonzales |  | Gonzales, LA |  | — |  |  | 679 |  |  | 15,895 |  |  | — |  |  | 25,433 |  |  | 679 |  |  | 41,328 |  |  | 42,007 |  |  | 21,802 |  |  | 1992 |  | (2)
Hershey |  | Hershey, PA |  | 32,213 |  |  | 3,673 |  |  | 48,186 |  |  | — |  |  | 1,884 |  |  | 3,673 |  |  | 50,070 |  |  | 53,743 |  |  | 2,702 |  |  | 2011(3) |  | (2)
Hilton Head I |  | Bluffton, SC |  | — |  |  | 4,753 |  |  | — |  |  | — |  |  | 31,161 |  |  | 4,753 |  |  | 31,161 |  |  | 35,914 |  |  | 3,345 |  |  | 2011 |  | (2)
Hilton Head II |  | Bluffton, SC |  | — |  |  | 5,128 |  |  | 20,668 |  |  | — |  |  | 7,523 |  |  | 5,128 |  |  | 28,191 |  |  | 33,319 |  |  | 9,281 |  |  | 2003 (3) |  | (2)
Howell |  | Howell, MI |  | — |  |  | 2,250 |  |  | 35,250 |  |  | — |  |  | 9,707 |  |  | 2,250 |  |  | 44,957 |  |  | 47,207 |  |  | 15,096 |  |  | 2002 (3) |  | (2)
Jeffersonville |  | Jeffersonville, OH |  | — |  |  | 2,752 |  |  | 111,276 |  |  | — |  |  | 4,825 |  |  | 2,752 |  |  | 116,101 |  |  | 118,853 |  |  | 5,928 |  |  | 2011(3) |  | (2)
Kittery I |  | Kittery, ME |  | — |  |  | 1,242 |  |  | 2,961 |  |  | 229 |  |  | 2,357 |  |  | 1,471 |  |  | 5,318 |  |  | 6,789 |  |  | 4,288 |  |  | 1986 |  | (2)
Kittery II |  | Kittery, ME |  | — |  |  | 1,451 |  |  | 1,835 |  |  | — |  |  | 769 |  |  | 1,451 |  |  | 2,604 |  |  | 4,055 |  |  | 2,181 |  |  | 1989 |  | (2)
Lancaster |  | Lancaster, PA |  | — |  |  | 3,691 |  |  | 19,907 |  |  | — |  |  | 17,032 |  |  | 3,691 |  |  | 36,939 |  |  | 40,630 |  |  | 22,342 |  |  | 1994 (3) |  | (2)
Lincoln City |  | Lincoln City, OR |  | — |  |  | 6,268 |  |  | 28,663 |  |  | 267 |  |  | 8,726 |  |  | 6,535 |  |  | 37,389 |  |  | 43,924 |  |  | 12,532 |  |  | 2003 (3) |  | (2)
Locust Grove |  | Locust Grove, GA |  | — |  |  | 2,558 |  |  | 11,801 |  |  | — |  |  | 26,454 |  |  | 2,558 |  |  | 38,255 |  |  | 40,813 |  |  | 19,366 |  |  | 1994 |  | (2)
Mebane |  | Mebane, NC |  | — |  |  | 8,821 |  |  | 53,362 |  |  | — |  |  | 676 |  |  | 8,821 |  |  | 54,038 |  |  | 62,859 |  |  | 6,914 |  |  | 2010 |  | (2)
Myrtle Beach Hwy 17 |  | Myrtle Beach, SC |  | — |  |  | — |  |  | 80,733 |  |  | — |  |  | 4,612 |  |  | — |  |  | 85,345 |  |  | 85,345 |  |  | 14,165 |  |  | 2009 (3) |  | (2)
Myrtle Beach Hwy 501 |  | Myrtle Beach, SC |  | — |  |  | 10,236 |  |  | 57,094 |  |  | — |  |  | 34,708 |  |  | 10,236 |  |  | 91,802 |  |  | 102,038 |  |  | 24,620 |  |  | 2003 (3) |  | (2)
Nags Head |  | Nags Head, NC |  | — |  |  | 1,853 |  |  | 6,679 |  |  | — |  |  | 5,089 |  |  | 1,853 |  |  | 11,768 |  |  | 13,621 |  |  | 6,281 |  |  | 1997 (3) |  | (2)
Ocean City |  | Ocean City, MD |  | 18,825 |  |  | — |  |  | 16,334 |  |  | — |  |  | 5,142 |  |  | — |  |  | 21,476 |  |  | 21,476 |  |  | 1,405 |  |  | 2011(3) |  | (2)
Park City |  | Park City, UT |  | — |  |  | 6,900 |  |  | 33,597 |  |  | 343 |  |  | 17,996 |  |  | 7,243 |  |  | 51,593 |  |  | 58,836 |  |  | 15,324 |  |  | 2003 (3) |  | (2)
Rehoboth Beach |  | Rehoboth Beach, DE |  | — |  |  | 20,600 |  |  | 74,209 |  |  | 1,875 |  |  | 27,218 |  |  | 22,475 |  |  | 101,427 |  |  | 123,902 |  |  | 29,175 |  |  | 2003 (3) |  | (2)
Riverhead |  | Riverhead, NY |  | — |  |  | — |  |  | 36,374 |  |  | 6,152 |  |  | 85,263 |  |  | 6,152 |  |  | 121,637 |  |  | 127,789 |  |  | 66,807 |  |  | 1993 |  | (2)
San Marcos |  | San Marcos, TX |  | — |  |  | 1,801 |  |  | 9,440 |  |  | 16 |  |  | 46,047 |  |  | 1,817 |  |  | 55,487 |  |  | 57,304 |  |  | 31,573 |  |  | 1993 |  | (2)
TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES
TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
For the Year Ended December 31, 2012 (in thousands)
Description |  |  |  | Initial cost to Company |  | Costs Capitalized Subsequent to Acquisition (Improvements) |  |  | Gross Amount Carried at Close of Period December 31, 2012 (1) |  |  |  |  |  |  |
Outlet Center Name |  | Location |  | Encum-brances |  |  | Land |  | Buildings, Improve-ments & Fixtures |  | Land |  | Buildings, Improve-ments & Fixtures |  | Land |  | Buildings, Improve-ments & Fixtures |  | Total |  | Accumulated Depreciation |  |  | Date of Construction |  | Life Used to Compute Depreciation in Income Statement
Sanibel |  | Sanibel, FL |  | — |  |  | 4,916 |  |  | 23,196 |  |  | — |  |  | 12,463 |  |  | 4,916 |  |  | 35,659 |  |  | 40,575 |  |  | 17,368 |  |  | 1998 (3) |  | (2)
Sevierville |  | Sevierville, TN |  | — |  |  | — |  |  | 18,495 |  |  | — |  |  | 36,563 |  |  | — |  |  | 55,058 |  |  | 55,058 |  |  | 26,788 |  |  | 1997 (3) |  | (2)
Seymour |  | Seymour, IN |  | — |  |  | 200 |  |  | — |  |  | — |  |  | — |  |  | 200 |  |  | — |  |  | 200 |  |  | — |  |  | 1994 |  | (2)
Terrell |  | Terrell, TX |  | — |  |  | 523 |  |  | 13,432 |  |  | — |  |  | 8,455 |  |  | 523 |  |  | 21,887 |  |  | 22,410 |  |  | 15,944 |  |  | 1994 |  | (2)
Tilton |  | Tilton, NH |  | — |  |  | 1,800 |  |  | 24,838 |  |  | 29 |  |  | 9,293 |  |  | 1,829 |  |  | 34,131 |  |  | 35,960 |  |  | 11,202 |  |  | 2003 (3) |  | (2)
Tuscola |  | Tuscola, IL |  | — |  |  | 1,600 |  |  | 15,428 |  |  | 43 |  |  | 3,722 |  |  | 1,643 |  |  | 19,150 |  |  | 20,793 |  |  | 6,433 |  |  | 2003 (3) |  | (2)
Washington |  | Washington, PA |  | — |  |  | 5,528 |  |  | 91,288 |  |  | 3 |  |  | 10,201 |  |  | 5,531 |  |  | 101,489 |  |  | 107,020 |  |  | 24,184 |  |  | 2008 |  | (2)
West Branch |  | West Branch, MI |  | — |  |  | 319 |  |  | 3,428 |  |  | 120 |  |  | 9,221 |  |  | 439 |  |  | 12,649 |  |  | 13,088 |  |  | 8,280 |  |  | 1991 |  | (2)
Westbrook |  | Westbrook, CT |  | — |  |  | 6,264 |  |  | 26,991 |  |  | 4,233 |  |  | 5,532 |  |  | 10,497 |  |  | 32,523 |  |  | 43,020 |  |  | 10,337 |  |  | 2003 (3) |  | (2)
Williamsburg |  | Williamsburg, IA |  | — |  |  | 706 |  |  | 6,781 |  |  | 716 |  |  | 16,198 |  |  | 1,422 |  |  | 22,979 |  |  | 24,401 |  |  | 17,075 |  |  | 1991 |  | (2)
|  |  |  | $ | 107,745 |  |  | $ | 132,178 |  |  | $ | 1,206,459 |  |  | $ | 15,824 |  |  | $ | 592,891 |  |  | $ | 148,002 |  |  | $ | 1,799,350 |  |  | $ | 1,947,352 |  |  | $ | 582,859 |  |  |  |  |
(1) | Aggregate cost for federal income tax purposes is approximately $2.0 billion.
(2) | We generally use estimated lives of 33 years for buildings and 15 years for land improvements. Tenant finishing allowances are depreciated over the initial
lease term. Building, improvements & fixtures includes amounts included in construction in progress on the consolidated balance sheet.
(3) | Represents year acquired.
TANGER FACTORY OUTLET CENTERS, INC. and SUBSIDIARIES TANGER PROPERTIES LIMITED PARTNERSHIP and SUBSIDIARIES SCHEDULE III - (Continued) REAL ESTATE AND ACCUMULATED DEPRECIATION For the Year Ended December 31, 2012 (in thousands) The changes in total real estate for the three years ended December 31, 2012 are as follows:
|  | 2012 |  | 2011 |  | 2010
Balance, beginning of year |  | $ | 1,916,045 |  |  | $ | 1,576,214 |  |  | $ | 1,507,870 |
Acquisitions |  | — |  |  | 304,572 |  |  | — |
Improvements |  | 34,633 |  |  | 42,161 |  |  | 95,185 |
Impairment charge |  | — |  |  | — |  |  | (846 | )
Dispositions and assets held for sale |  | (3,326 | ) |  | (6,902 | ) |  | (25,995 | )
Balance, end of year |  | $ | 1,947,352 |  |  | $ | 1,916,045 |  |  | $ | 1,576,214 |
The changes in accumulated depreciation for the three years ended December 31, 2012 are as follows:
|  | 2012 |  | 2011 |  | 2010
Balance, beginning of year |  | $ | 512,485 |  |  | $ | 453,145 |  |  | $ | 412,530 |
Depreciation for the period |  | 73,700 |  |  | 66,242 |  |  | 64,543 |
Impairment charge |  | — |  |  | — |  |  | — |
Dispositions and assets held for sale |  | (3,326 | ) |  | (6,902 | ) |  | (23,928 | )
Balance, end of year |  | $ | 582,859 |  |  | $ | 512,485 |  |  | $ | 453,145 |

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- Definition The entire disclosure for real estate and accumulated depreciation. This may include a schedule that describes the property and lists the initial cost of land, buildings and improvements, improvements and carrying costs capitalized after acquisition, and the total carrying cost for land, buildings and improvements for each property and in aggregate. The schedule also lists the accumulated depreciation for each property and in aggregate, the date each property was constructed and acquired, the useful life used to calculate depreciation and any encumbrances on the properties. The entity provides a reconciliation of the carrying amount of real estate from the beginning of the period to the end of the period. Any real estate investments that have been written down or reserved against are described, including the basis of the write-down. A material amount of intercompany profit in the total carrying amount of real estate is disclosed. The aggregate cost of all real estate investments for federal income tax purposes is also disclosed. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04.(c) Schedule III) -URI http://asc.fasb.org/extlink&oid=6882300&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Subparagraph Schedule III -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 28 -Article 12 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -URI http://asc.fasb.org/extlink&oid=6590653&loc=d3e638233-123024 + Details
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