EX-12.0 2 uvv-exhibit12x20150930.htm EXHIBIT 12.0 Exhibit

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)
 
2015
 
2014
 
2015
 
2014
 
 
 
 
 
 
 
 
 
Earnings
 
 
 
 
 
 
 
 
    Pretax income before equity in pretax earnings of unconsolidated affiliates
 
$
33,577

 
$
17,127

 
$
24,636

 
$
5,013

    Fixed charges (net of interest capitalized)
 
4,599

 
5,592

 
9,150

 
10,349

    Distribution of earnings from unconsolidated affiliates
 

 

 

 

         Total Earnings
 
$
38,176

 
$
22,719

 
$
33,786

 
$
15,362

 
 
 
 
 
 
 
 
 
Fixed Charges and Preference Dividends
 
 
 
 
 
 
 
 
    Interest expense
 
$
3,912

 
$
4,852

 
$
7,796

 
$
8,872

    Interest capitalized
 

 

 

 

    Amortization of premiums, discounts, and debt issuance costs
 
212

 
326

 
425

 
652

    Interest component of rent expense
 
476

 
414

 
930

 
825

         Total Fixed Charges
 
4,600

 
5,592

 
9,151

 
10,349

    Dividends on convertible perpetual preferred stock (pretax)
 
5,673

 
5,712

 
11,345

 
11,423

         Total Fixed Charges and Preference Dividends
 
$
10,273

 
$
11,304

 
$
20,496

 
$
21,772

 
 
 
 
 
 
 
 
 
Ratio of Earnings to Fixed Charges
 
8.30

 
4.06

 
3.69

 
1.48

 
 
 
 
 
 
 
 
 
Ratio of Earnings to Combined Fixed Charges and Preference Dividends
 
3.72

 
2.01

 
1.65

 
0.71