EX-12 2 uvv-exhibit12x20130930.htm EXHIBIT 12

UVV-Exhibit 12-2013.09.30

Exhibit 12

UNIVERSAL CORPORATION

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,
(in thousands, except for ratios)		2013				2012				2013				2012
Earnings
Pretax income before equity in pretax earnings (loss) of unconsolidated affiliates		$	43,532			$	69,219			$	124,955			$	106,033
Fixed charges (net of interest capitalized)		6,906				6,709				12,949				13,664
Distribution of earnings from unconsolidated affiliates		—				123				—				123
Total Earnings		$	50,438			$	76,051			$	137,904			$	119,820
Fixed Charges and Preference Dividends
Interest expense		$	6,160			$	5,938			$	11,466			$	12,108
Interest capitalized		—				—				—				—
Amortization of premiums, discounts, and debt issuance costs		333				334				665				677
Interest component of rent expense		413				437				818				879
Total Fixed Charges		6,906				6,709				12,949				13,664
Dividends on convertible perpetual preferred stock (pretax)		5,712				5,712				11,423				11,423
Total Fixed Charges and Preference Dividends		$	12,618			$	12,421			$	24,372			$	25,087
Ratio of Earnings to Fixed Charges		7.30				11.34				10.65				8.77
Ratio of Earnings to Combined Fixed Charges and Preference Dividends		4.00				6.12				5.66				4.78