UNIVERSAL CORP /VA/ - FORM 10-Q - EX-12 - RATIO OF EARNINGS TO FIXED CHARGES

file	filename
EX-31.2 - SECTION 302 CFO CERTIFICATION - UNIVERSAL CORP /VA/	dex312.htm
EX-32.1 - SECTION 906 CEO CERTIFICATION - UNIVERSAL CORP /VA/	dex321.htm
EX-31.1 - SECTION 302 CEO CERTIFICATION - UNIVERSAL CORP /VA/	dex311.htm
EX-32.2 - SECTION 906 CFO CERTIFICATION - UNIVERSAL CORP /VA/	dex322.htm
10-Q - FORM 10-Q - UNIVERSAL CORP /VA/	d10q.htm

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,
	2009		2008		2009		2008
	(in thousands, except for ratios)
Earnings
Pretax income before equity in pretax earnings (loss) of unconsolidated affiliates	$	63,637	$	66,172	$	195,221	$	159,142
Fixed charges (net of interest capitalized)		6,829		12,715		24,267		33,057
Distribution of earnings from unconsolidated affiliates		147		—		147		—


Total Earnings	$	70,613	$	78,887	$	219,635	$	192,199


Fixed Charges and Preference Dividends
Interest expense	$	5,438	$	11,435	$	20,287	$	29,214
Interest capitalized		—		—		—		—
Amortization of premiums, discounts, and debt issuance costs		535		226		1,513		680
Interest component of rent expense		856		1,054		2,467		3,163


Total Fixed Charges		6,829		12,715		24,267		33,057

Dividends on convertible perpetual preferred stock (pretax)		5,711		5,711		17,134		17,134


Total Fixed Charges and Preference Dividends	$	12,540	$	18,426	$	41,401	$	50,191


Ratio of Earnings to Fixed Charges		10.34		6.20		9.05		5.81


Ratio of Earnings to Combined Fixed Charges and Preference Dividends		5.63		4.28		5.31		3.83

UNIVERSAL CORP /VA/ - FORM 10-Q - EX-12 - RATIO OF EARNINGS TO FIXED CHARGES - February 5, 2010