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Equity-Based Compensation (Tables) - Tanger Factory Outlet Centers, Inc. [Member] | 12 Months Ended
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Dec. 31, 2018
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | We recorded equity-based compensation expense in general and administrative expenses in the consolidated statements of operations for the years ended December 31, 2018, 2017 and 2016, respectively, as follows (in thousands):
|  | 2018 |  | 2017 |  | 2016
Restricted common shares |  | $ | 9,870 |  |  | $ | 9,395 |  |  | $ | 10,976 |
Notional unit performance awards |  | 4,356 |  |  | 3,913 |  |  | 3,967 |
Options |  | 443 |  |  | 277 |  |  | 376 |
Total equity-based compensation |  | $ | 14,669 |  |  | $ | 13,585 |  |  | $ | 15,319 |
Equity-based compensation expense capitalized as a part of rental property and deferred lease costs were as follows (in thousands):
|  | 2018 |  | 2017 |  | 2016
Equity-based compensation expense capitalized |  | $ | 1,131 |  |  | $ | 1,044 |  |  | $ | 985 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity | The following table summarizes information related to unvested restricted common shares and restricted share units outstanding for the years ended December 31, 2018, 2017, and 2016:
Unvested Restricted Common Shares and Units |  | Number of shares |  | Weighted average grant date fair value
Outstanding at December 31, 2015 |  | 1,085,995 |  |  | $ | 31.84 |
Granted |  | 286,524 |  |  | 29.64 |
Vested |  | (388,851 | ) |  | 31.30 |
Forfeited |  | (104,400 | ) |  | 34.13 |
Outstanding at December 31, 2016 |  | 879,268 |  |  | $ | 31.09 |
Granted |  | 253,431 |  |  | 33.07 |
Vested |  | (368,043 | ) |  | 29.87 |
Forfeited |  | (14,750 | ) |  | 34.39 |
Outstanding at December 31, 2017 |  | 749,906 |  |  | $ | 32.30 |
Granted (1) |  | 407,156 |  |  | 21.13 |
Vested |  | (314,982 | ) |  | 31.43 |
Forfeited |  | — |  |  | — |
Outstanding at December 31, 2018 |  | 842,080 |  |  | $ | 27.56 |
(1) | Includes 44,452 restricted share units.
Schedule of Nonvested Performance-based Units Activity | The following table sets forth OPP performance targets and other relevant information about each plan:
|  | 2018 OPP(1) |  | 2017 OPP(2) |  | 2016 OPP(2) |  | 2015 OPP(2),(3) |  | 2014 OPP(2),(4)
Performance targets |  |  |  |  |  |  |  |  |  |
Absolute portion of award: |  |  |  |  |  |  |  |  |  |
Percent of total award |  | 33% |  | 50% |  | 50% |  | 60% |  | 70%
Absolute total shareholder return range |  | 19.1% - 29.5% |  | 18% - 35% |  | 18% - 35% |  | 25% - 35% |  | 25% - 35%
Percentage of units to be earned |  | 20%-100% |  | 20%-100% |  | 20%-100% |  | 33%-100% |  | 33%-100%
Relative portion of award: |  |  |  |  |  |  |  |  |  |
Percent of total award |  | 67% |  | 50% |  | 50% |  | 40% |  | 30%
Percentile rank of peer group range |  | 30th - 80th |  | 40th - 70th |  | 40th - 70th |  | 50th - 70th |  | 50th - 70th
Percentage of units to be earned |  | 20%-100% |  | 20%-100% |  | 20%-100% |  | 33%-100% |  | 33%-100%
Maximum number of restricted common shares that may be earned |  | 409,972 |  |  | 296,400 |  |  | 321,900 |  |  | 306,600 |  |  | 329,700 |
Grant date fair value per share |  | $ | 12.42 |  |  | $ | 16.60 |  |  | $ | 15.10 |  |  | $ | 15.85 |  |  | $ | 14.71 |
(1) | The number of restricted common shares received under the 2018 OPP will be determined on a pro-rata basis by linear interpolation between total shareholder return thresholds, both for absolute total shareholder return and for relative total shareholder return amongst the Company's peer group. The peer group is based on companies included in the FTSE NAREIT Retail Index.
(2) | The performance shares for the 2017, 2016, 2015 and 2014 OPP will convert on a pro-rata basis by linear interpolation between share price appreciation thresholds, both for absolute total shareholder return and for relative total shareholder return. The share price for the purposes of calculation of share price appreciation will be adjusted on a penny-for-penny basis with respect to any dividend payments made during the measurement period. The peer group is based on companies included in the SNL Equity REIT index.
(3) | On December 31, 2017, the measurement period for the 2015 OPP expired and neither of the Company’s absolute nor relative total shareholder returns were sufficient for employees to earn, and therefore become eligible to vest in, any restricted shares under the plan. Accordingly, all 2015 OPP performance awards were automatically forfeited.
(4) | On December 31, 2016, the measurement period for the 2014 OPP expired. Based on the Company’s absolute total shareholder return over the three-year measurement period, we issued 184,000 restricted common shares in January 2017, with 94,000 vesting immediately and the remaining 90,000 vesting in January one year thereafter, contingent upon continued employment with the Company through the vesting date (unless terminated prior thereto (a) by the Company without cause, (b) by participant for good reason or (c) due to death or disability). Our relative total shareholder return for the 2014 OPP did not meet the minimum share price appreciation and no shares were earned under this component of the 2014 OPP.
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The fair values of the OPP awards granted during the years ended December 31, 2018, 2017, and 2016 were determined at the grant dates using a Monte Carlo simulation pricing model and the following assumptions:
|  | 2018 |  | 2017 |  | 2016
Risk free interest rate (1) |  | 2.40 | % |  | 1.52 | % |  | 1.05 | %
Expected dividend yield (2) |  | 4.8 | % |  | 3.4 | % |  | 3.1 | %
Expected volatility (3) |  | 27 | % |  | 19 | % |  | 21 | %
(1) | Represents the interest rate as of the grant date on U.S. treasury bonds having the same life as the estimated life of the restricted unit grants.
(2) | The dividend yield is calculated utilizing the dividends paid for the previous five-year period.
(3) | Based on a mix of historical and implied volatility for our common shares and the common shares of our peer index companies over the measurement period.
Schedule of Other Share-based Compensation, Activity | The following table sets forth OPP activity for the years ended December 31, 2018, 2017, and 2016:
Unvested OPP Awards |  | Number of units |  | Weighted average grant date fair value
Outstanding as of December 31, 2015 |  | 544,300 |  |  | $ | 15.26 |
Awarded |  | 321,900 |  |  | 15.10 |
Forfeited |  | (107,024 | ) |  | 14.77 |
Outstanding as of December 31, 2016 |  | 759,176 |  |  | $ | 15.36 |
Awarded |  | 296,400 |  |  | 16.60 |
Earned (1) |  | (184,455 | ) |  | 14.71 |
Forfeited |  | (267,710 | ) |  | 15.84 |
Outstanding as of December 31, 2017 |  | 603,411 |  |  | $ | 15.83 |
Awarded |  | 409,972 |  |  | 12.42 |
Earned |  | — |  |  | — |
Forfeited |  | — |  |  | — |
Outstanding as of December 31, 2018 |  | 1,013,383 |  |  | $ | 14.44 |
(1) | Represents the units under the 2014 OPP that are no longer outstanding and have been settled in restricted common shares.
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range | Options outstanding at December 31, 2018 had the following weighted average exercise prices and weighted average remaining contractual lives:
|  | Options Outstanding |  | Options Exercisable
Exercise prices |  | Options |  | Weighted average exercise price |  | Weighted remaining contractual life in years |  | Options |  | Weighted average exercise price
$ | 21.94 |  |  | 306,000 |  |  | $ | 21.94 |  |  | 9.20 |  | — |  |  | $ | — |
$ | 26.06 |  |  | 61,700 |  |  | 26.06 |  |  | 2.15 |  | 61,700 |  |  | 26.06 |
$ | 32.02 |  |  | 166,800 |  |  | 32.02 |  |  | 5.00 |  | 128,100 |  |  | 32.02 |
|  | 534,500 |  |  | $ | 25.56 |  |  | 7.08 |  | 189,800 |  |  | $ | 30.08 |
Schedule of Share-based Compensation, Stock Options, Activity | A summary of option activity under the Plan for the years ended December 31, 2018, 2017, and 2016 (aggregate intrinsic value amount in thousands):
Options |  | Shares |  | Weighted-average exercise price |  | Weighted-average remaining contractual life in years |  | Aggregate intrinsic value
Outstanding as of December 31, 2015 |  | 318,400 |  |  | $ | 30.32 |  |  |  |  |
Granted |  | — |  |  | — |  |  |  |  |
Exercised |  | (59,700 | ) |  | 29.31 |  |  |  |  |
Forfeited |  | (16,500 | ) |  | 31.86 |  |  |  |  |
Outstanding as of December 31, 2016 |  | 242,200 |  |  | $ | 30.46 |  |  | 6.26 |  | $ | 1,287 |
Granted |  | — |  |  | — |  |  |  |  |
Exercised |  | (1,800 | ) |  | 29.70 |  |  |  |  |
Forfeited |  | (9,200 | ) |  | 31.83 |  |  |  |  |
Outstanding as of December 31, 2017 |  | 231,200 |  |  | $ | 30.42 |  |  | 5.24 |  | $ | 28 |
Granted |  | 331,000 |  |  | 21.94 |  |  |  |  |
Exercised |  | — |  |  | — |  |  |  |  |
Forfeited |  | (27,700 | ) |  | 22.62 |  |  |  |  |
Outstanding as of December 31, 2018 |  | 534,500 |  |  | $ | 25.56 |  |  | 7.08 |  | $ | — |
Vested and Expected to Vest as of |  |  |  |  |  |  |  |
December 31, 2018 |  | 492,889 |  |  | $ | 25.87 |  |  | 6.90 |  | $ | — |
Exercisable as of December 31, 2018 |  | 189,800 |  |  | $ | 30.08 |  |  | 4.08 |  | $ | — |

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