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New words:
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Removed:
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Exhibit 12
UNIVERSAL CORPORATION
RATIO OF EARNINGS TO FIXED CHARGES
| Three Months Ended June 30, | ||||||||
| (in thousands, except for ratios) | 2018 | 2017 | ||||||
| Earnings | ||||||||
| Pretax income before equity in pretax earnings of unconsolidated affiliates | $ | 5,122 | $ | 3,293 | ||||
| Fixed charges (net of interest capitalized) | 4,354 | 4,318 | ||||||
| Distribution of earnings from unconsolidated affiliates | — | — | ||||||
| Total Earnings | $ | 9,476 | $ | 7,611 | ||||
| Fixed Charges | ||||||||
| Interest expense | $ | 3,949 | $ | 3,932 | ||||
| Interest capitalized | — | — | ||||||
| Interest component of rent expense | 405 | 386 | ||||||
| Total Fixed Charges | $ | 4,354 | $ | 4,318 | ||||
| Ratio of Earnings to Fixed Charges | 2.18 | 1.76 | ||||||