Exhibit 11
TAUBMAN CENTERS, INC.
Computation of Per Share Earnings
(in thousands, except share data)
Three Months Ended Six Months Ended
----------------------------- -----------------------------
June 30, 1995 June 30, 1996 June 30, 1995 June 30, 1996
------------- ------------- ------------- -------------
Primary
- -------
Income before extraordinary items as reported $3,973 $4,398 $8,425 $9,642
Effect of partnership units issuable under The Taubman Realty
Group Limited Partnership's 1992 Incentive Option Plan 0 (3) 0 (6)
------ ------ ------ ------
Income before extraordinary items for purposes of calculating
primary earnings per share $3,973 $4,395 $8,425 $9,636
====== ====== ====== ======
Average number of shares outstanding 44,213,128 44,098,113 44,337,908 44,104,672
========== ========== ========== ==========
Primary earnings per share $.09 $.10 $.19 $.22
==== ==== ==== ====
Fully diluted
- -------------
Income before extraordinary items as reported $3,973 $4,398 $8,425 $9,642
Effect of partnership units issuable under The Taubman Realty
Group Limited Partnership's 1992 Incentive Option Plan 0 (8) 0 (16)
------ ------ ------ ------
Income before extraordinary items for purposes of calculating fully
diluted earnings per share $3,973 $4,390 $8,425 $9,626
====== ====== ====== ======
Average number of shares outstanding 44,213,128 44,098,113 44,337,908 44,104,672
========== ========== ========== ==========
Fully diluted earnings per share $.09 $.10 $.19 $.22
==== ==== ==== ====
Exhibit 11
(Continued)
TAUBMAN CENTERS, INC.
Computation of Per Share Earnings
(in thousands, except share data)
Three Months Ended Six Months Ended
----------------------------- -----------------------------
June 30, 1995 June 30, 1996 June 30, 1995 June 30, 1996
------------- ------------- ------------- -------------
Primary
- -------
Net income as reported $3,192 $4,398 $7,644 $9,642
Effect of partnership units issuable under The Taubman Realty
Group Limited Partnership's 1992 Incentive Option Plan 0 (3) 0 (6)
------ ------ ------ ------
Net income for purposes of calculating primary
earnings per share $3,192 $4,395 $7,644 $9,636
====== ====== ====== ======
Average number of shares outstanding 44,213,128 44,098,113 44,337,908 44,104,672
========== ========== ========== ==========
Primary earnings per share $.07 $.10 $.17 $.22
==== ==== ==== ====
Fully diluted
- -------------
Net income as reported $3,192 $4,398 $7,644 $9,642
Effect of partnership units issuable under The Taubman Realty
Group Limited Partnership's 1992 Incentive Option Plan 0 (8) 0 (16)
------ ------ ------ ------
Net income for purposes of calculating fully
diluted earnings per share $3,192 $4,390 $7,644 $9,626
====== ====== ====== ======
Average number of shares outstanding 44,213,128 44,098,113 44,337,908 44,104,672
========== ========== ========== ==========
Fully diluted earnings per share $.07 $.10 $.17 $.22
==== ==== ==== ====