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CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:      
Minimum rents $ 333,325 $ 310,831 $ 371,454
Percentage rents 20,020 20,233 22,929
Expense recoveries 202,467 188,023 239,782
Management, leasing, and development services (Note 2) 28,059 13,177 12,349
Other 28,686 24,908 32,615
Total Revenues 612,557 557,172 679,129
Expenses:      
Maintenance, taxes, utilities, and promotion 156,506 145,118 190,119
Other operating 78,794 58,131 65,142
Management, leasing, and development services 4,042 5,914 6,220
General and administrative (Note 13) 48,056 45,727 48,292
Costs associated with shareowner activism (Note 1) 3,000    
Restructuring charge (Note 2) 3,706
Interest expense 86,285 63,041 90,803
Depreciation and amortization 138,139 106,355 120,207
Total Expenses 514,822 424,286 524,489
Nonoperating income (expense) (Notes 2, 7, and 10) 22,927 5,256 (42,807)
Income before income tax expense, equity in income of Unconsolidated Joint Ventures, and gain on dispositions, net of tax 120,662 138,142 111,833
Income tax expense (Note 3) (2,212) (2,248) (2,267)
Equity in income of Unconsolidated Joint Ventures (Note 5) 69,701 56,226 62,002
Income before gain on dispositions, net of tax 188,151 192,120 171,568
Gain on dispositions, net of tax (Note 2) 437 1,106,554
Net income 188,151 192,557 1,278,122
Net income attributable to noncontrolling interests (Note 9) (55,538) (58,430) (385,109)
Net income attributable to Taubman Centers, Inc. 132,613 134,127 893,013
Distributions to participating securities of TRG (Note 13) (2,117) (1,969) (6,018)
Preferred stock dividends (Note 14) (23,138) (23,138) (23,138)
Net income attributable to Taubman Centers, Inc. common shareowners 107,358 109,020 863,857
Other comprehensive income (Note 19):      
Unrealized loss on interest rate instruments and other (4,308) (13,668) (18,004)
Cumulative translation adjustment (17,339) (15,279) (7,193)
Reclassification adjustment for amounts recognized in net income 9,339 12,021 16,729
Other Comprehensive Income (Loss), Net of Tax (12,308) (16,926) (8,468)
Comprehensive income 175,843 175,631 1,269,654
Comprehensive income attributable to noncontrolling interests (51,927) (53,458) (382,825)
Comprehensive income attributable to Taubman Centers, Inc. $ 123,916 $ 122,173 $ 886,829
Basic earnings per common share (Note 16) $ 1.78 $ 1.78 $ 13.65
Diluted earnings per common share (Note 16) $ 1.77 $ 1.76 $ 13.47
Weighted average number of common shares outstanding – basic 60,363,416 61,389,113 63,267,800