EX-12 2 uvv-exhibit12x9302012.htm EXHIBIT 12

UVV-Exhibit 12-9302012

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 September 30,								Six Months Ended September 30,
		2012				2011				2012				2011
		(in thousands, except for ratios)
Earnings
Pretax income before equity in pretax earnings (loss) of unconsolidated affiliates		$	69,219			$	4,412			$	106,033			$	34,749
Fixed charges (net of interest capitalized)		6,709				6,576				13,664				13,053
Distribution of earnings from unconsolidated affiliates		123				16,724				123				16,724
Total Earnings		$	76,051			$	27,712			$	119,820			$	64,526
Fixed Charges and Preference Dividends
Interest expense		$	5,938			$	5,665			$	12,108			$	11,198
Interest capitalized		—				—				—				—
Amortization of premiums, discounts, and debt issuance costs		334				296				677				607
Interest component of rent expense		437				615				879				1,248
Total Fixed Charges		6,709				6,576				13,664				13,053
Dividends on convertible perpetual preferred stock (pretax)		5,712				5,712				11,423				11,423
Total Fixed Charges and Preference Dividends		$	12,421			$	12,288			$	25,087			$	24,476
Ratio of Earnings to Fixed Charges		11.34				4.21				8.77				4.94
Ratio of Earnings to Combined Fixed Charges and Preference Dividends		6.12				2.26				4.78				2.64