Attached files
| file | filename |
|---|---|
| EX-32.2 - EXHIBIT 32.2 - UNIVERSAL CORP /VA/ | uvv-exhibit322x20171231.htm |
| EX-32.1 - EXHIBIT 32.1 - UNIVERSAL CORP /VA/ | uvv-exhibit321x20171231.htm |
| EX-31.2 - EXHIBIT 31.2 - UNIVERSAL CORP /VA/ | uvv-exhibit312x20171231.htm |
| EX-31.1 - EXHIBIT 31.1 - UNIVERSAL CORP /VA/ | uvv-exhibit311x20171231.htm |
| 10-Q - 10-Q - UNIVERSAL CORP /VA/ | uvv-10qx20171231.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 December 31, | Nine Months Ended December 31, | |||||||||||||||
(in thousands, except for ratios) | 2017 | 2016 | 2017 | 2016 | ||||||||||||
Earnings | ||||||||||||||||
Pretax income before equity in pretax earnings of unconsolidated affiliates | $ | 55,825 | $ | 79,638 | $ | 100,655 | $ | 107,209 | ||||||||
Fixed charges (net of interest capitalized) | 4,485 | 4,486 | 13,219 | 13,677 | ||||||||||||
Distribution of earnings from unconsolidated affiliates | 5,541 | 5,078 | 5,541 | 5,078 | ||||||||||||
Total Earnings | $ | 65,851 | $ | 89,202 | $ | 119,415 | $ | 125,964 | ||||||||
Fixed Charges and Preference Dividends | ||||||||||||||||
Interest expense | $ | 4,020 | $ | 4,051 | $ | 11,916 | $ | 12,440 | ||||||||
Interest capitalized | — | — | — | — | ||||||||||||
Interest component of rent expense | 465 | 435 | 1,303 | 1,237 | ||||||||||||
Total Fixed Charges | 4,485 | 4,486 | 13,219 | 13,677 | ||||||||||||
Dividends on convertible perpetual preferred stock (pretax) (1) | — | 5,673 | — | 17,018 | ||||||||||||
Total Fixed Charges and Preference Dividends | $ | 4,485 | $ | 10,159 | $ | 13,219 | $ | 30,695 | ||||||||
Ratio of Earnings to Fixed Charges | 14.68 | 19.88 | 9.03 | 9.21 | ||||||||||||
Ratio of Earnings to Combined Fixed Charges and Preference Dividends | 14.68 | 8.78 | 9.03 | 4.10 | ||||||||||||
(1) All outstanding shares of the Company's convertible perpetual preferred stock were converted for common stock or cash in the third and fourth quarters of fiscal year 2017. Dividend payments on the preferred stock ceased upon conversion.