EX-12 2 uvv-exhibit12x6302012.htm 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,
|  | 2012 |  | 2011
|  | (in thousands, except for ratios)
Earnings |  |  |  |
Pretax income before equity in pretax earnings (loss) of unconsolidated affiliates |  | $ | 36,814 |  |  | $ | 30,337 |
Fixed charges (net of interest capitalized) |  | 6,955 |  |  | 6,477 |
Distribution of earnings from unconsolidated affiliates |  | — |  |  | — |
Total Earnings |  | $ | 43,769 |  |  | $ | 36,814 |
Fixed Charges and Preference Dividends |  |  |  |
Interest expense |  | $ | 6,170 |  |  | $ | 5,533 |
Interest capitalized |  | — |  |  | — |
Amortization of premiums, discounts, and debt issuance costs |  | 343 |  |  | 311 |
Interest component of rent expense |  | 442 |  |  | 633 |
Total Fixed Charges |  | 6,955 |  |  | 6,477 |
Dividends on convertible perpetual preferred stock (pretax) |  | 5,711 |  |  | 5,711 |
Total Fixed Charges and Preference Dividends |  | $ | 12,666 |  |  | $ | 12,188 |
Ratio of Earnings to Fixed Charges |  | 6.29 |  |  | 5.68 |
Ratio of Earnings to Combined Fixed Charges and Preference Dividends |  | 3.46 |  |  | 3.02 |