EX-12.0 2 uvv-exhibit12x20180930.htm EXHIBIT 12.0
Exhibit 12
UNIVERSAL CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES

|  | Three Months Ended September 30, |  | Six Months Ended September 30,
(in thousands, except for ratios) |  | 2018 |  | 2017 |  | 2018 |  | 2017
Earnings |  |  |  |  |  |  |  |
Pretax income before equity in pretax earnings of unconsolidated affiliates |  | $ | 50,272 |  |  | $ | 41,537 |  |  | $ | 55,394 |  |  | $ | 44,830 |
Fixed charges (net of interest capitalized) |  | 5,020 |  |  | 4,416 |  |  | 9,374 |  |  | 8,734 |
Distribution of earnings from unconsolidated affiliates |  | — |  |  | — |  |  | — |  |  | — |
Total Earnings |  | $ | 55,292 |  |  | $ | 45,953 |  |  | $ | 64,768 |  |  | $ | 53,564 |
Fixed Charges |  |  |  |  |  |  |  |
Interest expense |  | $ | 4,593 |  |  | $ | 3,964 |  |  | $ | 8,542 |  |  | $ | 7,896 |
Interest capitalized |  | — |  |  | — |  |  | — |  |  | — |
Interest component of rent expense |  | 427 |  |  | 452 |  |  | 832 |  |  | 838 |
Total Fixed Charges |  | 5,020 |  |  | 4,416 |  |  | $ | 9,374 |  |  | $ | 8,734 |
Ratio of Earnings to Fixed Charges |  | 11.01 |  |  | 10.41 |  |  | 6.91 |  |  | 6.13 |