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?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
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New words:
aforementioned, instrument, LP, modification, preserve, prolonged, reoccur
Removed:
EPS, rendered, upcoming
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Exhibit 12 | ||||||||
TAUBMAN CENTERS, INC. | ||||||||
Computation of Ratios of Earnings to Combined Fixed Charges and Preferred Dividends | ||||||||
(in thousands, except ratios) | ||||||||
Six months ended June 30 | ||||||||
2017 | 2016 | |||||||
Income before income tax expense and equity in income of Unconsolidated Joint Ventures | $ | 27,367 | $ | 68,429 | ||||
Add back: | ||||||||
Fixed charges | 63,523 | 54,103 | ||||||
Amortization of previously capitalized interest | 1,492 | 1,398 | ||||||
Distributed income of Unconsolidated Joint Ventures | 33,376 | 34,388 | ||||||
Deduct: | ||||||||
Capitalized interest | (6,834 | ) | (12,375 | ) | ||||
Earnings available for fixed charges and preferred dividends | $ | 118,924 | $ | 145,943 | ||||
Fixed charges: | ||||||||
Interest expense | $ | 52,292 | $ | 39,716 | ||||
Capitalized interest | 6,834 | 12,375 | ||||||
Interest portion of rent expense | 4,397 | 2,012 | ||||||
Total fixed charges | $ | 63,523 | $ | 54,103 | ||||
Preferred dividends | 11,569 | 11,569 | ||||||
Total fixed charges and preferred dividends | $ | 75,092 | $ | 65,672 | ||||
Ratio of earnings to fixed charges and preferred dividends | 1.6 | 2.2 |