Attached files
| file | filename |
|---|---|
| EX-32.1 - EXHIBIT - TAUBMAN CENTERS INC | a2014q3exhibit321.htm |
| EX-99 - EXHIBIT - TAUBMAN CENTERS INC | a2014q3exhibit99.htm |
| EX-31.1 - EXHIBIT - TAUBMAN CENTERS INC | a2014q3exhibit311.htm |
| EX-31.2 - EXHIBIT - TAUBMAN CENTERS INC | a2014q3exhibit312.htm |
| EXCEL - IDEA: XBRL DOCUMENT - TAUBMAN CENTERS INC | Financial_Report.xls |
| 10-Q - 10-Q - TAUBMAN CENTERS INC | tco-93014x10q.htm |
| EX-32.2 - EXHIBIT - TAUBMAN CENTERS INC | a2014q3exhibit322.htm |
Exhibit 12 | |||||||||
TAUBMAN CENTERS, INC. | |||||||||
Computation of Ratios of Earnings to Combined Fixed Charges and Preferred Dividends | |||||||||
(in thousands, except ratios) | |||||||||
Nine Months Ended September 30 | |||||||||
2014 | 2013 | ||||||||
Earnings before income from equity investees, taxes, and gain on | |||||||||
dispositions of International Plaza, Arizona Mills, and Oyster Bay, net of tax | $ | 105,432 | $ | 91,870 | |||||
Add back: | |||||||||
Fixed charges | 97,808 | 115,646 | |||||||
Amortization of previously capitalized interest | 2,612 | 3,331 | |||||||
Distributed income of Unconsolidated Joint Ventures | 41,222 | 34,047 | |||||||
Deduct: | |||||||||
Capitalized interest | (18,844 | ) | (11,511 | ) | |||||
Earnings available for fixed charges and preferred dividends | $ | 228,230 | $ | 233,383 | |||||
Fixed charges: | |||||||||
Interest expense | $ | 74,946 | $ | 99,589 | |||||
Capitalized interest | 18,844 | 11,511 | |||||||
Interest portion of rent expense | 4,018 | 4,546 | |||||||
Total fixed charges | $ | 97,808 | $ | 115,646 | |||||
Preferred dividends | 17,353 | 15,148 | |||||||
Total fixed charges and preferred dividends | $ | 115,161 | $ | 130,794 | |||||
Ratio of earnings to fixed charges and preferred dividends | 2.0 | 1.8 | |||||||