EX-12 2 dex12.htm RATIO OF EARNINGS TO FIXED CHARGES, AND RATIO OF EARNINGS Ratio of Earnings to Fixed Charges, and Ratio of Earnings

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,
     2008    2007
     (in thousands, except
for ratios)

Earnings

      

Pretax income from continuing operations before equity in pretax earnings (loss) of unconsolidated affiliates

    $ 31,471    $ 22,654

Fixed charges (net of interest capitalized)

      7,893      11,753

Distribution of earnings from unconsolidated affiliates

      —        172
             

Total Earnings

    $ 39,364    $ 34,579
             

Fixed Charges and Preference Dividends

      

Interest expense

    $ 7,666    $ 11,391

Interest capitalized

      —        —  

Amortization of premiums, discounts, and debt issuance costs

      227      362
             

Total Fixed Charges

      7,893      11,753

Dividends on convertible perpetual preferred stock (pretax)

      5,711      5,712
             

Total Fixed Charges and Preference Dividends

    $ 13,604    $ 17,465
             

Ratio of Earnings to Fixed Charges

      4.99      2.94
             

Ratio of Earnings to Combined Fixed Charges and Preference Dividends

      2.89      1.98
             

 

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