Exhibit 99.2 | ||||||||||||||||||||||||||||||
UNCONSOLIDATED JOINT VENTURES OF THE TAUBMAN REALTY GROUP LIMITED PARTNERSHIP | ||||||||||||||||||||||||||||||
REAL ESTATE AND ACCUMULATED DEPRECIATION | ||||||||||||||||||||||||||||||
December 31, 2011 | ||||||||||||||||||||||||||||||
(in thousands) | ||||||||||||||||||||||||||||||
Initial Cost to Company | Gross Amount at Which Carried at Close of Period | |||||||||||||||||||||||||||||
Land | Buildings, Improvements, and Equipment | Cost Capitalized Subsequent to Acquisition | Land | Buildings, Improvements, and Equipment | Total | Accumulated Depreciation (A/D) | Total Cost Net of A/D | Encumbrances | Date of Completion of Construction or Acquisition | Depreciable Life | ||||||||||||||||||||
Shopping Centers: | ||||||||||||||||||||||||||||||
Arizona Mills, Tempe, AZ | $ | 22,017 | $ | 147,931 | $ | 3,886 | $ | 22,017 | $ | 151,817 | $ | 173,834 | $ | 54,678 | $ | 119,156 | $ | 172,010 | 1997 | 50 Years | ||||||||||
Fair Oaks, Fairfax, VA | 7,667 | 33,147 | 77,473 | 7,667 | 110,620 | 118,287 | 64,007 | 54,280 | 275,000 | 1980 | 55 Years | |||||||||||||||||||
The Mall at Millenia, Orlando, FL | 22,517 | 176,577 | 6,211 | 22,517 | 182,788 | 205,305 | 65,327 | 139,978 | 199,397 | 2002 | 50 Years | |||||||||||||||||||
Stamford Town Center, Stamford, CT | 9,537 | 40,044 | 88,534 | 9,537 | 128,578 | 138,115 | 62,732 | 75,383 | 1982 | 40 Years | ||||||||||||||||||||
Sunvalley, Concord, CA | 350 | 65,740 | 20,122 | 350 | 85,862 | 86,212 | 57,476 | 28,736 | 116,326 | 1967 | 40 Years | |||||||||||||||||||
Waterside Shops, Naples, FL | 12,604 | 66,930 | 86,853 | 12,604 | 153,783 | 166,387 | 49,758 | 116,629 | 165,000 | 2003 | 40 Years | |||||||||||||||||||
Westfarms, Farmington, CT | 5,287 | 38,638 | 129,007 | 5,287 | 167,645 | 172,932 | 92,081 | 80,851 | 181,075 | 1974 | 34 Years | |||||||||||||||||||
Other: | ||||||||||||||||||||||||||||||
Taubman Land Associates (Sunvalley), Concord, CA | 42,697 | 42,697 | 42,697 | 42,697 | 30,000 | 2006 | ||||||||||||||||||||||||
Peripheral Land | 1,547 | 1,547 | 1,547 | 1,547 | ||||||||||||||||||||||||||
Construction in Process and Development - Pre-construction costs | 1,998 | 1,998 | 1,998 | 1,998 | ||||||||||||||||||||||||||
Total | $ | 124,223 | $ | 569,007 | $ | 414,084 | $ | 124,223 | $ | 983,091 | $ | 1,107,314 | (1) | $ | 446,059 | $ | 661,255 | |||||||||||||
The changes in total real estate assets and accumulated depreciation for the years ended December 2011, 2010, and 2009 are as follows: | ||||||||||||||||||||||||||||||
Total Real Estate Assets | Accumulated Depreciation | |||||||||||||||||||||||||||||
2011 | 2010 | 2009 | 2011 | 2010 | 2009 | |||||||||||||||||||||||||
Balance, beginning of year | $ | 1,092,916 | $ | 1,094,963 | $ | 1,087,341 | Balance, beginning of year | $ | (417,712 | ) | $ | (396,518 | ) | $ | (366,168 | ) | ||||||||||||||
New development and improvements | 19,352 | 10,703 | 12,423 | Depreciation for year | (30,289 | ) | (32,324 | ) | (33,795 | ) | ||||||||||||||||||||
Disposals/Write-offs | (4,954 | ) | (12,750 | ) | (4,801 | ) | Disposals | 1,942 | 11,130 | 3,157 | ||||||||||||||||||||
Transfers In | Transfers In | 288 | ||||||||||||||||||||||||||||
Balance, end of year | $ | 1,107,314 | $ | 1,092,916 | $ | 1,094,963 | Balance, end of year | $ | (446,059 | ) | $ | (417,712 | ) | $ | (396,518 | ) | ||||||||||||||
(1) The unaudited aggregate cost for federal income tax purposes as of December 31, 2011 was $1.287 billion. |
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10-K Filing
Taubman Centers (TCO) 10-K2011 Q4 Annual report
Filed: 24 Feb 12, 12:00am