Exhibit 12
TAUBMAN CENTERS, INC.
Computation of Ratios of Earnings to Combined Fixed Charges and Preferred Dividends
(in thousands, except ratios)
	Three Months Ended March 31
	2011			2010
Earnings before income from equity investees	$	14,508		$	7,274
Add back:
Fixed charges		37,231			39,391
Amortization of previously capitalized interest		1,127			1,135
Distributed income of Unconsolidated Joint Ventures		10,146			9,735
Deduct:
Capitalized interest		(213	)		(15	)
Preferred distributions		(615	)		(615	)
Earnings available for fixed charges and preferred dividends	$	62,184		$	56,905
Fixed charges:
Interest expense	$	35,015		$	37,417
Capitalized interest		213			15
Interest portion of rent expense		1,388			1,344
Preferred distributions		615			615
Total fixed charges	$	37,231		$	39,391
Preferred dividends		3,658			3,658
Total fixed charges and preferred dividends	$	40,889		$	43,049
Ratio of earnings to fixed charges and preferred dividends		1.5			1.3