Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - UNIVERSAL CORP /VA/ | Financial_Report.xls |
| EX-31.1 - EXHIBIT 31.1 - UNIVERSAL CORP /VA/ | uvv-exhibit311x20140630.htm |
| EX-32.1 - EXHIBIT 32.1 - UNIVERSAL CORP /VA/ | uvv-exhibit321x20140630.htm |
| EX-31.2 - EXHIBIT 31.2 - UNIVERSAL CORP /VA/ | uvv-exhibit312x20140630.htm |
| 10-Q - 10-Q - UNIVERSAL CORP /VA/ | uvv-10qx20140630.htm |
| EX-32.2 - EXHIBIT 32.2 - UNIVERSAL CORP /VA/ | uvv-exhibit322x20140630.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) | 2014 | 2013 | ||||||
Earnings (Loss) | ||||||||
Pretax income (loss) before equity in pretax earnings of unconsolidated affiliates | $ | (12,114 | ) | $ | 81,423 | |||
Fixed charges (net of interest capitalized) | 4,757 | 6,043 | ||||||
Distribution of earnings from unconsolidated affiliates | — | — | ||||||
Total Earnings (Loss) | $ | (7,357 | ) | $ | 87,466 | |||
Fixed Charges and Preference Dividends | ||||||||
Interest expense | $ | 4,020 | $ | 5,306 | ||||
Interest capitalized | — | — | ||||||
Amortization of premiums, discounts, and debt issuance costs | 326 | 332 | ||||||
Interest component of rent expense | 411 | 405 | ||||||
Total Fixed Charges | 4,757 | 6,043 | ||||||
Dividends on convertible perpetual preferred stock (pretax) | 5,711 | 5,711 | ||||||
Total Fixed Charges and Preference Dividends | $ | 10,468 | $ | 11,754 | ||||
Ratio of Earnings to Fixed Charges (1) | — | 14.47 | ||||||
Ratio of Earnings to Combined Fixed Charges and Preference Dividends (1) | — | 7.44 | ||||||
(1) For the three months ended June 30, 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., ratio of 1.00) was $12,114, and the deficiency to fully cover fixed charges and preference dividends was $17,825.