EX-12 2 v191369_ex12.htm
Exhibit 12

UNIVERSAL CORPORATION AND SUBSIDIARIES

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

   
Three Months Ended 
June 30,
  
   
2010
    
2009
  
   
(in thousands, except for ratios)
  
       
Earnings
            
Pretax income before equity in pretax earnings (loss) of unconsolidated affiliates
   $ 36,423     $ 62,182  
Fixed charges (net of interest capitalized)
     6,267       9,448  
Distribution of earnings from unconsolidated affiliates
     —       —  
                 
Total Earnings
   $ 42,690     $ 71,630  
                 
Fixed Charges and Preference Dividends
                
Interest expense
   $ 5,126     $ 8,155  
Interest capitalized
     —       —  
Amortization of premiums, discounts, and debt issuance costs
     325       489  
Interest component of rent expense
     816       804  
                 
Total Fixed Charges
     6,267       9,448  
                 
Dividends on convertible perpetual preferred stock (pretax)
     5,711       5,711  
                 
Total Fixed Charges and Preference Dividends
   $ 11,978     $ 15,159  
                 
Ratio of Earnings to Fixed Charges
     6.81       7.58  
                 
Ratio of Earnings to Combined Fixed Charges and Preference Dividends
     3.56       4.73