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

 
Nine Months Ended
 
 
 
 
 
 
 
 
 
 
 
March 31,
 
Fiscal Year Ended June 30,
 
2018
 
2017
 
2017
 
2016
 
2015
 
2014
 
2013
EARNINGS
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations before income taxes and noncontrolling interests
$
1,204,350

 
$
928,030

 
$
1,328,641

 
$
1,114,728

 
$
1,432,240

 
$
1,556,720

 
$
1,311,001

Adjustments:
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness, exclusive of interest capitalized
156,580

 
106,516

 
157,891

 
133,004

 
115,077

 
79,845

 
88,668

Amortization of deferred loan costs
4,253

 
3,133

 
4,545

 
3,513

 
3,329

 
2,721

 
2,884

Portion of rents representative of interest factor
29,858

 
29,751

 
39,574

 
39,668

 
41,886

 
43,983

 
44,493

(Income) of equity investees
(34,398
)
 
(29,969
)
 
(42,352
)
 
(25,648
)
 
(23,204
)
 
(11,141
)
 
(247
)
Distributed income of equity investees
43,036

 
30,087

 
45,760

 
36,616

 
31,723

 
1,661

 
—

Amortization of previously capitalized interest
98

 
102

 
134

 
152

 
179

 
190

 
193

Income as adjusted
$
1,403,777

 
$
1,067,650

 
$
1,534,193

 
$
1,302,033

 
$
1,601,230

 
$
1,673,979

 
$
1,446,992

FIXED CHARGES
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest on indebtedness, exclusive of interest capitalized
$
156,580

 
$
106,516

 
$
157,891

 
$
133,004

 
$
115,077

 
$
79,845

 
$
88,668

Amortization of deferred loan costs
4,253

 
3,133

 
4,545

 
3,513

 
3,329

 
2,721

 
2,884

Portion of rents representative of interest factor
29,858

 
29,751

 
39,574

 
39,668

 
41,886

 
43,983

 
44,493

Fixed charges
$
190,691

 
$
139,400

 
$
202,010

 
$
176,185

 
$
160,292

 
$
126,549

 
$
136,045

 
 
 
 
 
 
 
 
 
 
 
 
 
 
RATIO OF EARNINGS TO FIXED CHARGES
7.36
x
 
7.66
x
 
7.59
x
 
7.39
x
 
9.99
x
 
13.23
x
 
10.64
x