EXHIBIT 12.
UNIVERSAL CORPORATION AND SUBSIDIARIES
RATIO OF EARNINGS TO FIXED CHARGES
SIX MONTHS ENDED DECEMBER 31, 1995 AND 1994
1995 1994
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Pretax income from continuing operations $64,261 $35,127
Pretax income of unconsolidated affiliates 2,592 768
Fixed charges 32,972 35,204
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Earnings $99,825 $71,099
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Interest $32,312 $34,675
Interest of unconsolidated affiliates 543 412
Debt discount amortization 117 117
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Fixed Charges $32,972 $35,204
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Ratio of Earnings to Fixed Charges
3.0 2.0
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