Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - UNIVERSAL CORP /VA/ | uvv-exhibit322x20150630.htm |
| EX-32.1 - EXHIBIT 32.1 - UNIVERSAL CORP /VA/ | uvv-exhibit321x20150630.htm |
| EX-31.2 - EXHIBIT 31.2 - UNIVERSAL CORP /VA/ | uvv-exhibit312x20150630.htm |
| EX-31.1 - EXHIBIT 31.1 - UNIVERSAL CORP /VA/ | uvv-exhibit311x20150630.htm |
| 10-Q - 10-Q - UNIVERSAL CORP /VA/ | uvv-10qx20150630.htm |
Exhibit 12
UNIVERSAL CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERENCE DIVIDENDS
Three Months Ended June 30, | ||||||||
(in thousands, except for ratios) | 2015 | 2014 | ||||||
Earnings (Loss) | ||||||||
Pretax income (loss) before equity in pretax earnings (loss) of unconsolidated affiliates | $ | (8,941 | ) | $ | (12,114 | ) | ||
Fixed charges (net of interest capitalized) | 4,551 | 4,757 | ||||||
Distribution of earnings from unconsolidated affiliates | — | — | ||||||
Total Earnings (Loss) | $ | (4,390 | ) | $ | (7,357 | ) | ||
Fixed Charges and Preference Dividends | ||||||||
Interest expense | $ | 3,884 | $ | 4,020 | ||||
Interest capitalized | — | — | ||||||
Amortization of premiums, discounts, and debt issuance costs | 213 | 326 | ||||||
Interest component of rent expense | 454 | 411 | ||||||
Total Fixed Charges | 4,551 | 4,757 | ||||||
Dividends on convertible perpetual preferred stock (pretax) | 5,672 | 5,711 | ||||||
Total Fixed Charges and Preference Dividends | $ | 10,223 | $ | 10,468 | ||||
Ratio of Earnings to Fixed Charges (1) | — | — | ||||||
Ratio of Earnings to Combined Fixed Charges and Preference Dividends (1) | — | — | ||||||
(1) For the three months ended June 30, 2015 and 2014, the Company reported a loss for purposes of the above ratio calculations. As a result, earnings were not sufficient to cover fixed charges or preference dividends. The deficiency in earnings to fully cover fixed charges (i.e. a ratio of 1.00) was $8,941 and $12,114 for the three months ended June 30, 2015 and 2014, and the deficiency to fully cover fixed charges and preference dividends was $14,613 and $17,825 for the three months ended June 30, 2015 and 2014.