EX-12 3 dex12.htm RATIO OF EARNINGS TO FIXED CHARGES Ratio of Earnings to Fixed Charges

Exhibit 12

 

UNIVERSAL CORPORATION AND SUBSIDIARIES

 

RATIO OF EARNINGS TO FIXED CHARGES

 

    

Fiscal Year
Ended
March 31,
2005

   

Nine Month
Transition Year
Ended

March 31,

2004

    Fiscal Years Ended June 30,
         2003
    2002
    2001
     (in thousands, except for ratios)

Pretax income from continuing operations

    $ 150,304    $ 156,594    $ 162,545    $ 152,676    $ 177,206

Distribution of earnings from unconsolidated affiliates

      6,596      4,496      7,088      639      527

Fixed charges

      60,104      36,268      47,459      50,459      64,553
    
  
  
  
  

Earnings

    $ 217,004    $ 197,358    $ 217,092    $ 203,774    $ 242,286

Interest

    $ 58,252    $ 35,032    $ 45,270    $ 47,831    $ 61,576

Interest Capitalized

      498      449      1,957      610       

Amortization of premiums and other

      1,852      1,236      2,189      2,628      2,977
    
  
  
  
  

Fixed Charges

    $ 60,602    $ 36,717    $ 49,416    $ 51,069    $ 64,553

Ratio of Earnings to Fixed Charges

      3.58      5.38      4.39      3.99      3.75