Exhibit 12
TAUBMAN CENTERS, INC.
Computation of Ratios of Earnings to Combined Fixed Charges and Preferred Dividends
(in thousands, except ratios)
	Three Months Ended
	Ended March 31
	2008			2007
Earnings before income from equity investees	$	14,472		$	18,364
Add back:
Fixed charges	$	41,465		$	35,023
Amortization of previously capitalized interest		1,143			1,057
Distributed income of Unconsolidated Joint Ventures		9,234			8,186
Deduct:
Capitalized interest		(2,424	)		(3,480	)
Preferred distributions		(615	)		(615	)
Earnings available for fixed charges and preferred dividends	$	63,275		$	58,535
Fixed charges:
Interest expense	$	36,982		$	29,694
Capitalized interest		2,424			3,480
Interest portion of rent expense		1,444			1,234
Preferred distributions		615			615
Total fixed charges	$	41,465		$	35,023
Preferred dividends		3,658			3,658
Total fixed charges and preferred dividends	$	45,123		$	38,681
Ratio of earnings to fixed charges and preferred dividends		1.4			1.5