Taubman Centers (TCO) 10-Q 2011 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
	2011			2010
Earnings before income from equity investees	$	35,025		$	15,090
Add back:
Fixed charges	113,421			120,238
Amortization of previously capitalized interest	3,384			3,396
Distributed income of Unconsolidated Joint Ventures	31,990			29,213
Deduct:
Capitalized interest	(406		)	(176		)
Preferred distributions	(1,845		)	(1,845		)
Earnings available for fixed charges and preferred dividends	$	181,569		$	165,916
Fixed charges:
Interest expense	106,903			114,246
Capitalized interest	406			176
Interest portion of rent expense	4,267			3,971
Preferred distributions	1,845			1,845
Total fixed charges	$	113,421		$	120,238
Preferred dividends	10,975			10,975
Total fixed charges and preferred dividends	$	124,396		$	131,213
Ratio of earnings to fixed charges and preferred dividends	1.5			1.3