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,
 
2014
 
2013
 
2014
 
2013
 
2012
 
2011
 
2010
EARNINGS
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes and noncontrolling interests
$
739,901

 
$
819,406

 
$
1,556,720

 
$
1,311,001

 
$
1,576,698

 
$
1,413,721

 
$
754,817

Adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness, exclusive of interest capitalized
47,152

 
40,448

 
79,845

 
88,668

 
89,888

 
97,009

 
101,173

Amortization of deferred loan costs
1,454

 
1,361

 
2,721

 
2,884

 
2,902

 
2,695

 
2,426

Portion of rents representative of interest factor
21,991

 
22,246

 
43,983

 
44,493

 
41,515

 
39,499

 
41,194

Loss (income) of equity investees
(11,188
)
 
(1,245
)
 
(11,141
)
 
(247
)
 
1,237

 
2,592

 
6,757

Amortization of previously capitalized interest
95

 
95

 
190

 
193

 
196

 
226

 
259

Income as adjusted
$
799,405

 
$
882,311

 
$
1,672,318

 
$
1,446,992

 
$
1,712,436

 
$
1,555,742

 
$
906,626

FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness, exclusive of interest capitalized
$
47,152

 
$
40,448

 
$
79,845

 
$
88,668

 
$
89,888

 
$
97,009

 
$
101,173

Amortization of deferred loan costs
1,454

 
1,361

 
2,721

 
2,884

 
2,902

 
2,695

 
2,426

Portion of rents representative of interest factor
21,991

 
22,246

 
43,983

 
44,493

 
41,515

 
39,499

 
41,194

Fixed charges
$
70,597

 
$
64,055

 
$
126,549

 
$
136,045

 
$
134,305

 
$
139,203

 
$
144,793

 
 
 
 
 
 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
11.32
x
 
13.77
x
 
13.21
x
 
10.64
x
 
12.75
x
 
11.18
x
 
6.26
x