EX-12 2 dex12.htm EXHIBIT 12 Exhibit 12

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,
     2009    2008
     (in thousands, except for ratios)

Earnings

      

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

    $ 62,182    $ 31,471

Fixed charges (net of interest capitalized)

      9,448      8,947

Distribution of earnings from unconsolidated affiliates

      —        —  
             

Total Earnings

    $ 71,630    $ 40,418
             

Fixed Charges and Preference Dividends

      

Interest expense

    $ 8,155    $ 7,666

Interest capitalized

      —        —  

Amortization of premiums, discounts, and debt issuance costs

      489      227

Interest component of rent expense

      804      1,054
             

Total Fixed Charges

      9,448      8,947

Dividends on convertible perpetual preferred stock (pretax)

      5,711      5,711
             

Total Fixed Charges and Preference Dividends

    $ 15,159    $ 14,658
             

Ratio of Earnings to Fixed Charges

      7.58      4.52
             

Ratio of Earnings to Combined Fixed Charges and Preference Dividends

      4.73      2.76