Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - TAUBMAN CENTERS INC | a2016q2exhibit322.htm |
| EX-32.1 - EXHIBIT 32.1 - TAUBMAN CENTERS INC | a2016q2exhibit321.htm |
| EX-31.2 - EXHIBIT 31.2 - TAUBMAN CENTERS INC | a2016q2exhibit312.htm |
| EX-31.1 - EXHIBIT 31.1 - TAUBMAN CENTERS INC | a2016q2exhibit311.htm |
| 10-Q - 10-Q - TAUBMAN CENTERS INC | tco-063016x10q.htm |
Exhibit 12 | ||||||||
TAUBMAN CENTERS, INC. | ||||||||
Computation of Ratios of Earnings to Combined Fixed Charges and Preferred Dividends | ||||||||
(in thousands, except ratios) | ||||||||
Six Months Ended June 30 | ||||||||
2016 | 2015 | |||||||
Income before income tax expense and equity in income of Unconsolidated Joint Ventures | $ | 68,429 | $ | 63,780 | ||||
Add back: | ||||||||
Fixed charges | 54,103 | 47,207 | ||||||
Amortization of previously capitalized interest | 1,398 | 1,028 | ||||||
Distributed income of Unconsolidated Joint Ventures | 34,388 | 31,079 | ||||||
Deduct: | ||||||||
Capitalized interest | (12,375 | ) | (16,783 | ) | ||||
Earnings available for fixed charges and preferred dividends | $ | 145,943 | $ | 126,311 | ||||
Fixed charges: | ||||||||
Interest expense | $ | 39,716 | $ | 28,306 | ||||
Capitalized interest | 12,375 | 16,783 | ||||||
Interest portion of rent expense | 2,012 | 2,118 | ||||||
Total fixed charges | $ | 54,103 | $ | 47,207 | ||||
Preferred dividends | 11,569 | 11,569 | ||||||
Total fixed charges and preferred dividends | $ | 65,672 | $ | 58,776 | ||||
Ratio of earnings to fixed charges and preferred dividends | 2.2 | 2.1 | ||||||