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

 
Three Months Ended
 
 
 
 
 
 
 
 
 
 
 
September 30,
 
Fiscal Year Ended June 30,
 
2016
 
2015
 
2016
 
2015
 
2014
 
2013
 
2012
EARNINGS
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes and noncontrolling interests
$
292,245

 
$
275,649

 
$
1,114,728

 
$
1,432,240

 
$
1,556,720

 
$
1,311,001

 
$
1,576,698

Adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness, exclusive of interest capitalized
33,069

 
34,821

 
133,004

 
115,077

 
79,845

 
88,668

 
89,888

Amortization of deferred loan costs
1,079

 
939

 
3,513

 
3,329

 
2,721

 
2,884

 
2,902

Portion of rents representative of interest factor
9,917

 
10,471

 
39,668

 
41,886

 
43,983

 
44,493

 
41,515

Loss (income) of equity investees
(8,062
)
 
(5,181
)
 
(25,648
)
 
(23,204
)
 
(11,141
)
 
(247
)
 
1,237

Distributed income of equity investees
10,448

 
13,702

 
36,616

 
31,723

 
1,661

 
—

 
—

Amortization of previously capitalized interest
34

 
42

 
152

 
179

 
190

 
193

 
196

Income as adjusted
$
338,730

 
$
330,443

 
$
1,302,033

 
$
1,601,230

 
$
1,673,979

 
$
1,446,992

 
$
1,712,436

FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness, exclusive of interest capitalized
$
33,069

 
$
34,821

 
$
133,004

 
$
115,077

 
$
79,845

 
$
88,668

 
$
89,888

Amortization of deferred loan costs
1,079

 
939

 
3,513

 
3,329

 
2,721

 
2,884

 
2,902

Portion of rents representative of interest factor
9,917

 
10,471

 
39,668

 
41,886

 
43,983

 
44,493

 
41,515

Fixed charges
$
44,065

 
$
46,231

 
$
176,185

 
$
160,292

 
$
126,549

 
$
136,045

 
$
134,305

 
 
 
 
 
 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
7.69
x
 
7.15
x
 
7.39
x
 
9.99
x
 
13.23
x
 
10.64
x
 
12.75
x