Exhibit 12
 
Parker-Hannifin Corporation
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratios)

 
Six Months Ended
 
 
 
 
 
 
 
 
 
 
 
December 31,
 
Fiscal Year Ended June 30,
 
2012
 
2011
 
2012
 
2011
 
2010
 
2009
 
2008
EARNINGS
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes and noncontrolling interests
$
598,687

 
$
750,532

 
$
1,576,698

 
$
1,413,721

 
$
754,817

 
$
683,083

 
$
1,334,571

Adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness, exclusive of interest on ESOP loan guarantee
46,232

 
45,541

 
89,888

 
97,009

 
101,173

 
109,911

 
96,572

Amortization of deferred loan costs
1,493

 
1,449

 
2,902

 
2,695

 
2,426

 
2,143

 
1,793

Portion of rents representative of interest factor
20,758

 
19,749

 
41,515

 
39,499

 
41,194

 
41,839

 
35,378

Loss (income) of equity investees
(963
)
 
1,084

 
1,237

 
2,592

 
6,757

 
(1,529
)
 
2,596

Amortization of previously capitalized interest
98

 
98

 
196

 
226

 
259

 
262

 
278

Income as adjusted
$
666,305

 
$
818,453

 
$
1,712,436

 
$
1,555,742

 
$
906,626

 
$
835,709

 
$
1,471,188

FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness, exclusive of interest capitalized and interest on ESOP loan guarantee
$
46,232

 
$
45,541

 
$
89,888

 
$
97,009

 
$
101,173

 
$
109,911

 
$
96,572

Amortization of deferred loan costs
1,493

 
1,449

 
2,902

 
2,695

 
2,426

 
2,143

 
1,793

Portion of rents representative of interest factor
20,758

 
19,749

 
41,515

 
39,499

 
41,194

 
41,839

 
35,378

Fixed charges
$
68,483

 
$
66,739

 
$
134,305

 
$
139,203

 
$
144,793

 
$
153,893

 
$
133,743

 
 
 
 
 
 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
9.73
x
 
12.26
x
 
12.75
x
 
11.18
x
 
6.26
x
 
5.43
x
 
11.00
x