Taubman Centers (TCO) 10-Q 2010 Q3 Quarterly report

					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
		2010			2009
Earnings (loss) before income from equity investees (1)		$	15,090		$	(122,119	)
Add back:
Fixed charges			120,238			116,079
Amortization of previously capitalized interest			3,396			3,419
Distributed income of Unconsolidated Joint Ventures			29,213			28,980
Deduct:
Capitalized interest			(176	)		(915	)
Preferred distributions			(1,845	)		(1,845	)
Earnings available for fixed charges and preferred dividends		$	165,916		$	23,599
Fixed charges:
Interest expense		$	114,246		$	109,113
Capitalized interest			176			915
Interest portion of rent expense			3,971			4,206
Preferred distributions			1,845			1,845
	Total fixed charges	$	120,238		$	116,079
Preferred dividends			10,975			10,975
Total fixed charges and preferred dividends		$	131,213		$	127,054
Ratio of earnings to fixed charges and preferred dividends			1.3			0.2	(2)
(1)	Earnings before income from equity investees for the nine months ended September 30, 2009 includes impairment charges of $166.7 million on The Pier Shops and Regency Square and a $2.6 million restructuring charge, which primarily represents the costs of terminations of personnel.
(2)	Earnings available for fixed charges and preferred dividends were less than total fixed charges and preferred dividends by $103.5 million. See Note 1.