EX-12 2 uvv-exhibit12x12312012.htm EXHIBIT 12

UVV-Exhibit 12-12312012

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 December 31,								Nine Months Ended December 31,
		2012				2011				2012				2011
		(in thousands, except for ratios)
Earnings
Pretax income before equity in pretax earnings (loss) of unconsolidated affiliates		$	59,026			$	87,414			$	165,059			$	122,163
Fixed charges (net of interest capitalized)		6,441				7,176				20,105				20,229
Distribution of earnings from unconsolidated affiliates		—				—				123				16,724
Total Earnings		$	65,467			$	94,590			$	185,287			$	159,116
Fixed Charges and Preference Dividends
Interest expense		$	5,670			$	6,175			$	17,778			$	17,373
Interest capitalized		—				—				—				—
Amortization of premiums, discounts, and debt issuance costs		333				401				1,010				1,008
Interest component of rent expense		438				600				1,317				1,848
Total Fixed Charges		6,441				7,176				20,105				20,229
Dividends on convertible perpetual preferred stock (pretax)		5,711				5,711				17,134				17,134
Total Fixed Charges and Preference Dividends		$	12,152			$	12,887			$	37,239			$	37,363
Ratio of Earnings to Fixed Charges		10.16				13.18				9.22				7.87
Ratio of Earnings to Combined Fixed Charges and Preference Dividends		5.39				7.34				4.98				4.26