Taubman Centers (TCO) 10-K 2012 Q4 Annual report

TAUBMAN CENTERS, INC.																																								Exhibit 99.1
Debt Summary
As of December 31, 2012
(in millions of dollars, amounts may not add due to rounding)
		MORTGAGE AND OTHER NOTES PAYABLE (a)
		INCLUDING WEIGHTED AVERAGE INTEREST RATES AT DECEMBER 31, 2012
					100%			Beneficial Interest			Effective Rate			LIBOR Rate		Principal Amortization and Debt Maturities
					12/31/2012			12/31/2012			12/31/2012		(b)	Spread		2013		2014		2015		2016		2017		2018		2019		2020		2021		2022		2023		2024		Total
Consolidated Fixed Rate Debt:
Beverly Center					310.5			310.5			5.28	%				6.6		303.8																						310.5
Cherry Creek Shopping Center			50.00	%	280.0			140.0			5.24	%										140.0																		140.0
El Paseo Village					16.7		(c)	16.7			3.87	%	(c)			0.4		0.4		15.9																				16.7	(l)
Great Lakes Crossing Outlets					126.0			126.0			5.25	%				126.0		(k)																						126.0
International Plaza					325.0			325.0			4.85	%								4.9		5.2		5.4		5.7		6.0		6.3		291.5								325.0
Northlake Mall					215.5			215.5			5.41	%										215.5																		215.5
Stony Point Fashion Park					101.6			101.6			6.24	%				2.1		99.5																						101.6
The Gardens on El Paseo					85.3		(d)	85.3			4.52	%	(d)			1.1		1.1		1.1		81.9																		85.3	(l)
The Mall at Green Hills					108.3		(e)	108.3			4.73	%	(e)			108.3																								108.3	(l)
The Mall at Partridge Creek					80.2			80.2			6.15	%				1.1		1.1		1.2		1.3		1.4		1.4		1.5		71.2										80.2
The Mall at Short Hills					540.0			540.0			5.47	%								540.0																				540.0
The Mall at Wellington Green			90.00	%	200.0			180.0			5.44	%								180.0																				180.0
Total Consolidated Fixed					2,389.2			2,229.2								245.7		406.0		743.2		443.9		6.8		7.1		7.5		77.5		291.5								2,229.2
Weighted Rate					5.29	%		5.29	%							5.03	%	5.51	%	5.42	%	5.19	%	5.11	%	5.11	%	5.12	%	6.04	%	4.85	%
Consolidated Floating Rate Debt:
MacArthur Center			95.00	%	130.6			124.0			4.99	%	(f)			1.3		1.4		1.5		1.6		1.7		1.8		2.0		112.8										124.0
TRG $65M Revolving Credit					37.3			37.3			1.61	%	(g)	1.40	%			37.3																						37.3
TRG $650M Revolving Credit Facility:
Dolphin Mall (j)					250.0			250.0			1.96	%		1.75	%					250.0		(j)																		250.0
Fairlane Town Center (j)					60.0			60.0			1.96	%		1.75	%					60.0		(j)																		60.0
Twelve Oaks Mall (j)					85.0			85.0			1.96	%		1.75	%					85.0		(j)																		85.0
Total Consolidated Floating					562.8			556.3								1.3		38.7		396.5		1.6		1.7		1.8		2.0		112.8										556.3
Weighted Rate					2.64	%		2.61	%							4.99	%	1.73	%	1.97	%	4.99	%	4.99	%	4.99	%	4.99	%	4.99	%
Total Consolidated					2,952.0			2,785.5								247.0		444.7		1,139.7		445.4		8.5		9.0		9.5		190.3		291.5								2,785.5
Weighted Rate					4.78	%		4.76	%							5.03	%	5.19	%	4.22	%	5.19	%	5.09	%	5.09	%	5.09	%	5.42	%	4.85	%
Joint Ventures Fixed Rate Debt:
Arizona Mills			50.00	%	169.8			84.9			5.76	%				1.2		1.3		1.4		1.4		1.5		1.6		1.7		74.7										84.9
The Mall at Millenia			50.00	%	350.0			175.0			4.00	%										0.5		3.1		3.2		3.4		3.5		3.6		3.8		3.9		149.9		175.0	(m)
Sunvalley			50.00	%	189.3			94.6			4.44	%				1.5		1.6		1.6		1.7		1.8		1.9		2.0		2.1		2.2		78.3						94.6
Taubman Land Associates			50.00	%	24.0			12.0			3.84	%				0.2		0.2		0.2		0.2		0.2		0.3		0.3		0.3		0.3		9.7						12.0
Waterside Shops			50.00	%	165.0			86.4		(h)	4.07	%	(h)			1.1		1.1		1.1		83.3																		86.4	(l)
Westfarms			78.94	%	317.9			250.9			4.50	%				4.2		4.3		4.5		4.8		5.0		5.2		5.4		5.7		5.9		205.9						250.9
Total Joint Venture Fixed					1,215.9			703.9								8.1		8.5		8.8		91.9		11.6		12.2		12.8		86.3		12.0		297.8		3.9		149.9		703.9
Weighted Rate					4.45	%		4.46	%							4.60	%	4.61	%	4.61	%	4.13	%	4.51	%	4.51	%	4.51	%	5.57	%	4.32	%	4.46	%	4.00	%	4.00	%
Joint Ventures Floating Rate Debt:
Fair Oaks			50.00	%	275.0			137.5			4.10	%	(i)					0.8		2.0		2.2		2.3		130.2														137.5
Total Joint Venture Floating					275.0			137.5										0.8		2.0		2.2		2.3		130.2														137.5
Weighted Rate					4.10	%		4.10	%									4.10	%	4.10	%	4.10	%	4.10	%	4.10	%
Total Joint Venture					1,490.9			841.4								8.1		9.3		10.8		94.1		14.0		142.4		12.8		86.3		12.0		297.8		3.9		149.9		841.4
Weighted Rate					4.39	%		4.40	%							4.60	%	4.57	%	4.52	%	4.13	%	4.44	%	4.14	%	4.51	%	5.57	%	4.32	%	4.46	%	4.00	%	4.00	%
TRG Beneficial Interest Totals
Fixed Rate Debt					3,605.0			2,933.1		(c),(d),(e),(h)						253.8		414.5		752.0		535.8		18.4		19.3		20.3		163.8		303.6		297.8		3.9		149.9		2,933.1
					5.01	%		5.09	%							5.01	%	5.50	%	5.41	%	5.01	%	4.73	%	4.73	%	4.74	%	5.79	%	4.83	%	4.46	%	4.00	%	4.00	%
Floating Rate Debt					837.8			693.8								1.3		39.5		398.5		3.8		4.0		132.0		2.0		112.8										693.8
					3.12	%		2.91	%							4.99	%	1.78	%	1.98	%	4.48	%	4.48	%	4.11	%	4.99	%	4.99	%
Total					4,442.9			3,626.9		(c),(d),(e),(h)						255.1		453.9		1,150.5		539.5		22.5		151.4		22.2		276.5		303.6		297.8		3.9		149.9		3,626.9
					4.65	%		4.67	%							5.01	%	5.17	%	4.22	%	5.00	%	4.68	%	4.19	%	4.76	%	5.46	%	4.83	%	4.46	%	4.00	%	4.00	%
								Average Maturity Fixed Debt								5
								Average Maturity Total Debt								4
(a)	All debt is secured and non-recourse to TRG unless otherwise indicated.															(h)		Beneficial interest in debt includes $3.9 million of purchase accounting premium from acquisition of an additional 25% investment in Waterside Shops which reduces the stated rate on the debt of 5.54% to an effective rate of 4.07% on total beneficial interest in debt.
(b)	Includes the impact of interest rate swaps, if any, but does not include effect of amortization of debt issuance costs, losses on settlement of derivatives used to hedge the refinancing of certain fixed rate debt or interest rate cap premiums.
																(i)		Debt is swapped to an effective rate of 4.10% until 2.5 months prior to maturity.
(c)	Debt includes $0.2 million of purchase accounting premium from acquisition which reduces the stated rate on the debt of 4.42% to an effective rate of 3.87%.															(j)		TRG revolving credit facility of $650 million, Dolphin, Fairlane, and Twelve Oaks are direct borrowers under this facility. Debt is guaranteed by TRG. A one year extension option is available.
(d)	Debt includes $3.9 million of purchase accounting premium from acquisition which reduces the stated rate on the debt of 6.10% to an effective rate of 4.52%.															(k)		In January 2013, the existing $126 million 5.25% loan on Great Lakes Crossing Outlets was refinanced. The new 10 year, non-recourse, $225 million loan bears interest at a fixed rate of 3.601%.
(e)	Debt includes $2.0 million of purchase accounting premium from acquisition which reduces the stated rate on the debt of 6.89% to an effective rate of 4.73%.															(l)		Principal amortization includes amortization of purchase accounting adjustments.
																(m)		The loan on The Mall at Millenia is interest only for four years and then amortizes principal based on 30 years. The interest only period may be extended until the maturity date provided that the net income available for debt service equals or exceeds a certain amount for the calendar year 2015.
(f)	Debt is swapped to the effective rate indicated until maturity.
(g)	Rate floats daily at LIBOR plus spread. Letters of credit totaling $4.1 million are also outstanding on the facility.