EX-12 2 uvv-exhibit12x20130630.htm EXHIBIT 12 UVV-Exhibit 12-2013.06.30

Exhibit 12

UNIVERSAL CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS

 
 
Three Months Ended June 30,
(in thousands, except for ratios)
 
2013
 
2012
 
 
 
 
 
Earnings
 
 
 
 
    Pretax income before equity in pretax earnings (loss) of unconsolidated affiliates
 
$
81,423

 
$
36,814

    Fixed charges (net of interest capitalized)
 
6,043

 
6,955

    Distribution of earnings from unconsolidated affiliates
 
—

 
—

         Total Earnings
 
$
87,466

 
$
43,769

 
 
 
 
 
Fixed Charges and Preference Dividends
 
 
 
 
    Interest expense
 
$
5,306

 
$
6,170

    Interest capitalized
 
—

 
—

    Amortization of premiums, discounts, and debt issuance costs
 
332

 
343

    Interest component of rent expense
 
405

 
442

         Total Fixed Charges
 
6,043

 
6,955

    Dividends on convertible perpetual preferred stock (pretax)
 
5,711

 
5,711

         Total Fixed Charges and Preference Dividends
 
$
11,754

 
$
12,666

 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
14.47

 
6.29

 
 
 
 
 
Ratio of Earnings to Combined Fixed Charges and Preference Dividends
 
7.44

 
3.46