Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - TAUBMAN CENTERS INC | a2017q3exhibit322.htm |
| EX-32.1 - EXHIBIT 32.1 - TAUBMAN CENTERS INC | a2017q3exhibit321.htm |
| EX-31.2 - EXHIBIT 31.2 - TAUBMAN CENTERS INC | a2017q3exhibit312.htm |
| EX-31.1 - EXHIBIT 31.1 - TAUBMAN CENTERS INC | a2017q3exhibit311.htm |
| EX-3.1 - EXHIBIT 3.1 - TAUBMAN CENTERS INC | a2017q3exhibit31.htm |
| 10-Q - 10-Q - TAUBMAN CENTERS INC | tco-093017x10q.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 | ||||||||
2017 | 2016 | |||||||
Income before income tax expense and equity in income of Unconsolidated Joint Ventures | $ | 27,949 | $ | 87,762 | ||||
Add back: | ||||||||
Fixed charges | 96,353 | 84,725 | ||||||
Amortization of previously capitalized interest | 2,243 | 2,146 | ||||||
Distributed income of Unconsolidated Joint Ventures | 47,099 | 49,779 | ||||||
Deduct: | ||||||||
Capitalized interest | (9,552 | ) | (17,892 | ) | ||||
Earnings available for fixed charges and preferred dividends | $ | 164,092 | $ | 206,520 | ||||
Fixed charges: | ||||||||
Interest expense | $ | 80,074 | $ | 61,845 | ||||
Capitalized interest | 9,552 | 17,892 | ||||||
Interest portion of rent expense | 6,727 | 4,988 | ||||||
Total fixed charges | $ | 96,353 | $ | 84,725 | ||||
Preferred dividends | 17,353 | 17,353 | ||||||
Total fixed charges and preferred dividends | $ | 113,706 | $ | 102,078 | ||||
Ratio of earnings to fixed charges and preferred dividends | 1.4 | 2.0 | ||||||