00000763346/302022Q3FALSE800000763342021-07-012022-03-3100000763342022-03-31xbrli:shares00000763342022-01-012022-03-31iso4217:USD00000763342021-01-012021-03-3100000763342020-07-012021-03-31iso4217:USDxbrli:shares00000763342021-06-3000000763342020-06-3000000763342021-03-31ph:segment0000076334us-gaap:OperatingSegmentsMembersrt:NorthAmericaMemberph:DiversifiedIndustrialSegmentMember2022-01-012022-03-310000076334us-gaap:OperatingSegmentsMembersrt:NorthAmericaMemberph:DiversifiedIndustrialSegmentMember2021-01-012021-03-310000076334us-gaap:OperatingSegmentsMembersrt:NorthAmericaMemberph:DiversifiedIndustrialSegmentMember2021-07-012022-03-310000076334us-gaap:OperatingSegmentsMembersrt:NorthAmericaMemberph:DiversifiedIndustrialSegmentMember2020-07-012021-03-310000076334us-gaap:OperatingSegmentsMemberph:DiversifiedIndustrialSegmentMemberus-gaap:NonUsMember2022-01-012022-03-310000076334us-gaap:OperatingSegmentsMemberph:DiversifiedIndustrialSegmentMemberus-gaap:NonUsMember2021-01-012021-03-310000076334us-gaap:OperatingSegmentsMemberph:DiversifiedIndustrialSegmentMemberus-gaap:NonUsMember2021-07-012022-03-310000076334us-gaap:OperatingSegmentsMemberph:DiversifiedIndustrialSegmentMemberus-gaap:NonUsMember2020-07-012021-03-310000076334us-gaap:OperatingSegmentsMemberph:AerospaceSystemsSegmentMember2022-01-012022-03-310000076334us-gaap:OperatingSegmentsMemberph:AerospaceSystemsSegmentMember2021-01-012021-03-310000076334us-gaap:OperatingSegmentsMemberph:AerospaceSystemsSegmentMember2021-07-012022-03-310000076334us-gaap:OperatingSegmentsMemberph:AerospaceSystemsSegmentMember2020-07-012021-03-310000076334us-gaap:OperatingSegmentsMember2022-01-012022-03-310000076334us-gaap:OperatingSegmentsMember2021-01-012021-03-310000076334us-gaap:OperatingSegmentsMember2021-07-012022-03-310000076334us-gaap:OperatingSegmentsMember2020-07-012021-03-310000076334us-gaap:CorporateNonSegmentMember2022-01-012022-03-310000076334us-gaap:CorporateNonSegmentMember2021-01-012021-03-310000076334us-gaap:CorporateNonSegmentMember2021-07-012022-03-310000076334us-gaap:CorporateNonSegmentMember2020-07-012021-03-310000076334ph:MotionSystemsMemberph:DiversifiedIndustrialSegmentMember2022-01-012022-03-310000076334ph:MotionSystemsMemberph:DiversifiedIndustrialSegmentMember2021-01-012021-03-310000076334ph:MotionSystemsMemberph:DiversifiedIndustrialSegmentMember2021-07-012022-03-310000076334ph:MotionSystemsMemberph:DiversifiedIndustrialSegmentMember2020-07-012021-03-310000076334ph:FlowAndProcessControlMemberph:DiversifiedIndustrialSegmentMember2022-01-012022-03-310000076334ph:FlowAndProcessControlMemberph:DiversifiedIndustrialSegmentMember2021-01-012021-03-310000076334ph:FlowAndProcessControlMemberph:DiversifiedIndustrialSegmentMember2021-07-012022-03-310000076334ph:FlowAndProcessControlMemberph:DiversifiedIndustrialSegmentMember2020-07-012021-03-310000076334ph:FiltrationAndEngineeredMaterialsMemberph:DiversifiedIndustrialSegmentMember2022-01-012022-03-310000076334ph:FiltrationAndEngineeredMaterialsMemberph:DiversifiedIndustrialSegmentMember2021-01-012021-03-310000076334ph:FiltrationAndEngineeredMaterialsMemberph:DiversifiedIndustrialSegmentMember2021-07-012022-03-310000076334ph:FiltrationAndEngineeredMaterialsMemberph:DiversifiedIndustrialSegmentMember2020-07-012021-03-310000076334ph:DiversifiedIndustrialSegmentMember2022-01-012022-03-310000076334ph:DiversifiedIndustrialSegmentMember2021-01-012021-03-310000076334ph:DiversifiedIndustrialSegmentMember2021-07-012022-03-310000076334ph:DiversifiedIndustrialSegmentMember2020-07-012021-03-310000076334ph:AerospaceSystemsSegmentMemberph:FlightControlActuationMember2022-01-012022-03-310000076334ph:AerospaceSystemsSegmentMemberph:FlightControlActuationMember2021-01-012021-03-310000076334ph:AerospaceSystemsSegmentMemberph:FlightControlActuationMember2021-07-012022-03-310000076334ph:AerospaceSystemsSegmentMemberph:FlightControlActuationMember2020-07-012021-03-310000076334ph:FuelInertingAndEngineMotionControlMemberph:AerospaceSystemsSegmentMember2022-01-012022-03-310000076334ph:FuelInertingAndEngineMotionControlMemberph:AerospaceSystemsSegmentMember2021-01-012021-03-310000076334ph:FuelInertingAndEngineMotionControlMemberph:AerospaceSystemsSegmentMember2021-07-012022-03-310000076334ph:FuelInertingAndEngineMotionControlMemberph:AerospaceSystemsSegmentMember2020-07-012021-03-310000076334ph:HydraulicsMemberph:AerospaceSystemsSegmentMember2022-01-012022-03-310000076334ph:HydraulicsMemberph:AerospaceSystemsSegmentMember2021-01-012021-03-310000076334ph:HydraulicsMemberph:AerospaceSystemsSegmentMember2021-07-012022-03-310000076334ph:HydraulicsMemberph:AerospaceSystemsSegmentMember2020-07-012021-03-310000076334ph:EngineComponentsMemberph:AerospaceSystemsSegmentMember2022-01-012022-03-310000076334ph:EngineComponentsMemberph:AerospaceSystemsSegmentMember2021-01-012021-03-310000076334ph:EngineComponentsMemberph:AerospaceSystemsSegmentMember2021-07-012022-03-310000076334ph:EngineComponentsMemberph:AerospaceSystemsSegmentMember2020-07-012021-03-310000076334ph:AirframeAndFluidConveyanceMemberph:AerospaceSystemsSegmentMember2022-01-012022-03-310000076334ph:AirframeAndFluidConveyanceMemberph:AerospaceSystemsSegmentMember2021-01-012021-03-310000076334ph:AirframeAndFluidConveyanceMemberph:AerospaceSystemsSegmentMember2021-07-012022-03-310000076334ph:AirframeAndFluidConveyanceMemberph:AerospaceSystemsSegmentMember2020-07-012021-03-310000076334us-gaap:ProductAndServiceOtherMemberph:AerospaceSystemsSegmentMember2022-01-012022-03-310000076334us-gaap:ProductAndServiceOtherMemberph:AerospaceSystemsSegmentMember2021-01-012021-03-310000076334us-gaap:ProductAndServiceOtherMemberph:AerospaceSystemsSegmentMember2021-07-012022-03-310000076334us-gaap:ProductAndServiceOtherMemberph:AerospaceSystemsSegmentMember2020-07-012021-03-310000076334ph:AerospaceSystemsSegmentMember2022-01-012022-03-310000076334ph:AerospaceSystemsSegmentMember2021-01-012021-03-310000076334ph:AerospaceSystemsSegmentMember2021-07-012022-03-310000076334ph:AerospaceSystemsSegmentMember2020-07-012021-03-310000076334srt:NorthAmericaMember2022-01-012022-03-310000076334srt:NorthAmericaMember2021-01-012021-03-310000076334srt:NorthAmericaMember2021-07-012022-03-310000076334srt:NorthAmericaMember2020-07-012021-03-310000076334srt:EuropeMember2022-01-012022-03-310000076334srt:EuropeMember2021-01-012021-03-310000076334srt:EuropeMember2021-07-012022-03-310000076334srt:EuropeMember2020-07-012021-03-310000076334srt:AsiaPacificMember2022-01-012022-03-310000076334srt:AsiaPacificMember2021-01-012021-03-310000076334srt:AsiaPacificMember2021-07-012022-03-310000076334srt:AsiaPacificMember2020-07-012021-03-310000076334srt:LatinAmericaMember2022-01-012022-03-310000076334srt:LatinAmericaMember2021-01-012021-03-310000076334srt:LatinAmericaMember2021-07-012022-03-310000076334srt:LatinAmericaMember2020-07-012021-03-3100000763342022-04-012022-03-31xbrli:pure0000076334us-gaap:SubsequentEventMembersrt:ScenarioForecastMemberph:MeggittPlcMember2022-04-012022-06-30iso4217:GBP0000076334ph:MeggittPlcMember2021-07-012022-03-3100000763342021-12-310000076334ph:MeggittPlcMember2022-03-310000076334srt:ScenarioForecastMemberph:MeggittPlcMember2022-06-30iso4217:GBPxbrli:shares00000763342014-10-220000076334us-gaap:OperatingSegmentsMemberph:DiversifiedIndustrialSegmentMember2022-01-012022-03-310000076334us-gaap:OperatingSegmentsMemberph:DiversifiedIndustrialSegmentMember2021-01-012021-03-310000076334us-gaap:OperatingSegmentsMemberph:DiversifiedIndustrialSegmentMember2021-07-012022-03-310000076334us-gaap:OperatingSegmentsMemberph:DiversifiedIndustrialSegmentMember2020-07-012021-03-310000076334us-gaap:MaterialReconcilingItemsMember2022-01-012022-03-310000076334us-gaap:MaterialReconcilingItemsMember2021-01-012021-03-310000076334us-gaap:MaterialReconcilingItemsMember2021-07-012022-03-310000076334us-gaap:MaterialReconcilingItemsMember2020-07-012021-03-31ph:employee0000076334us-gaap:CostOfSalesMember2022-01-012022-03-310000076334us-gaap:CostOfSalesMember2021-01-012021-03-310000076334us-gaap:CostOfSalesMember2021-07-012022-03-310000076334us-gaap:CostOfSalesMember2020-07-012021-03-310000076334us-gaap:SellingGeneralAndAdministrativeExpensesMember2022-01-012022-03-310000076334us-gaap:SellingGeneralAndAdministrativeExpensesMember2021-01-012021-03-310000076334us-gaap:SellingGeneralAndAdministrativeExpensesMember2021-07-012022-03-310000076334us-gaap:SellingGeneralAndAdministrativeExpensesMember2020-07-012021-03-310000076334us-gaap:OtherNonoperatingIncomeExpenseMember2022-01-012022-03-310000076334us-gaap:OtherNonoperatingIncomeExpenseMember2021-01-012021-03-310000076334us-gaap:OtherNonoperatingIncomeExpenseMember2021-07-012022-03-310000076334us-gaap:OtherNonoperatingIncomeExpenseMember2020-07-012021-03-310000076334us-gaap:EmployeeSeveranceMember2021-07-012022-03-310000076334us-gaap:EmployeeSeveranceMember2022-03-310000076334us-gaap:NonoperatingIncomeExpenseMember2022-01-012022-03-310000076334us-gaap:CommonStockMember2021-12-310000076334us-gaap:AdditionalPaidInCapitalMember2021-12-310000076334us-gaap:RetainedEarningsMember2021-12-310000076334us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310000076334us-gaap:TreasuryStockMember2021-12-310000076334us-gaap:NoncontrollingInterestMember2021-12-310000076334us-gaap:RetainedEarningsMember2022-01-012022-03-310000076334us-gaap:NoncontrollingInterestMember2022-01-012022-03-310000076334us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310000076334us-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-310000076334us-gaap:TreasuryStockMember2022-01-012022-03-310000076334us-gaap:CommonStockMember2022-03-310000076334us-gaap:AdditionalPaidInCapitalMember2022-03-310000076334us-gaap:RetainedEarningsMember2022-03-310000076334us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-310000076334us-gaap:TreasuryStockMember2022-03-310000076334us-gaap:NoncontrollingInterestMember2022-03-310000076334us-gaap:CommonStockMember2020-12-310000076334us-gaap:AdditionalPaidInCapitalMember2020-12-310000076334us-gaap:RetainedEarningsMember2020-12-310000076334us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310000076334us-gaap:TreasuryStockMember2020-12-310000076334us-gaap:NoncontrollingInterestMember2020-12-3100000763342020-12-310000076334us-gaap:RetainedEarningsMember2021-01-012021-03-310000076334us-gaap:NoncontrollingInterestMember2021-01-012021-03-310000076334us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310000076334us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-310000076334us-gaap:TreasuryStockMember2021-01-012021-03-310000076334us-gaap:CommonStockMember2021-03-310000076334us-gaap:AdditionalPaidInCapitalMember2021-03-310000076334us-gaap:RetainedEarningsMember2021-03-310000076334us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310000076334us-gaap:TreasuryStockMember2021-03-310000076334us-gaap:NoncontrollingInterestMember2021-03-310000076334us-gaap:CommonStockMember2021-06-300000076334us-gaap:AdditionalPaidInCapitalMember2021-06-300000076334us-gaap:RetainedEarningsMember2021-06-300000076334us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300000076334us-gaap:TreasuryStockMember2021-06-300000076334us-gaap:NoncontrollingInterestMember2021-06-300000076334us-gaap:RetainedEarningsMember2021-07-012022-03-310000076334us-gaap:NoncontrollingInterestMember2021-07-012022-03-310000076334us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012022-03-310000076334us-gaap:AdditionalPaidInCapitalMember2021-07-012022-03-310000076334us-gaap:TreasuryStockMember2021-07-012022-03-310000076334us-gaap:CommonStockMember2020-06-300000076334us-gaap:AdditionalPaidInCapitalMember2020-06-300000076334us-gaap:RetainedEarningsMember2020-06-300000076334us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-300000076334us-gaap:TreasuryStockMember2020-06-300000076334us-gaap:NoncontrollingInterestMember2020-06-300000076334us-gaap:RetainedEarningsMember2020-07-012021-03-310000076334us-gaap:NoncontrollingInterestMember2020-07-012021-03-310000076334us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012021-03-310000076334us-gaap:AdditionalPaidInCapitalMember2020-07-012021-03-310000076334us-gaap:TreasuryStockMember2020-07-012021-03-310000076334ph:AccumulatedForeignCurrencyAndOtherAdjustmentAttributableToParentMember2021-06-300000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-06-300000076334ph:AccumulatedForeignCurrencyAndOtherAdjustmentAttributableToParentMember2021-07-012022-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-07-012022-03-310000076334ph:AccumulatedForeignCurrencyAndOtherAdjustmentAttributableToParentMember2022-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-03-310000076334us-gaap:AccumulatedTranslationAdjustmentMember2020-06-300000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-06-300000076334us-gaap:AccumulatedTranslationAdjustmentMember2020-07-012021-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-07-012021-03-310000076334us-gaap:AccumulatedTranslationAdjustmentMember2021-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012022-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012022-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-07-012022-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetPriorServiceCostCreditMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-07-012021-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentNetUnamortizedGainLossMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-07-012021-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310000076334us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMemberus-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember2020-07-012021-03-310000076334ph:DiversifiedIndustrialSegmentMember2021-06-300000076334ph:AerospaceSystemsSegmentMember2021-06-300000076334ph:DiversifiedIndustrialSegmentMember2022-03-310000076334ph:AerospaceSystemsSegmentMember2022-03-3100000763342021-10-012021-12-310000076334ph:PatentsAndTechnologyMember2022-03-310000076334ph:PatentsAndTechnologyMember2021-06-300000076334us-gaap:TrademarksMember2022-03-310000076334us-gaap:TrademarksMember2021-06-300000076334ph:CustomerListsAndOtherMember2022-03-310000076334ph:CustomerListsAndOtherMember2021-06-300000076334us-gaap:PensionPlansDefinedBenefitMember2022-01-012022-03-310000076334us-gaap:PensionPlansDefinedBenefitMember2021-01-012021-03-310000076334us-gaap:PensionPlansDefinedBenefitMember2021-07-012022-03-310000076334us-gaap:PensionPlansDefinedBenefitMember2020-07-012021-03-310000076334us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-01-012021-03-310000076334us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2022-01-012022-03-310000076334us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2021-07-012022-03-310000076334us-gaap:OtherPostretirementBenefitPlansDefinedBenefitMember2020-07-012021-03-310000076334ph:BridgeCreditAgreementMemberus-gaap:LineOfCreditMemberus-gaap:BridgeLoanMember2021-08-020000076334ph:BridgeCreditAgreementMemberus-gaap:LineOfCreditMemberus-gaap:BridgeLoanMember2022-03-310000076334ph:BridgeCreditAgreementMemberus-gaap:LineOfCreditMemberus-gaap:BridgeLoanMember2021-08-022021-08-020000076334ph:TermLoanFacilityMemberus-gaap:SeniorNotesMemberus-gaap:LineOfCreditMember2021-08-270000076334ph:TermLoanFacilityMemberus-gaap:SeniorNotesMemberus-gaap:LineOfCreditMember2021-08-272021-08-270000076334ph:MultiCurrencyCreditAgreementMemberus-gaap:LineOfCreditMember2022-03-310000076334us-gaap:CommercialPaperMember2021-10-310000076334srt:MaximumMember2021-07-012022-03-310000076334us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-03-310000076334us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-06-300000076334us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-03-310000076334us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-06-300000076334us-gaap:SeniorNotesMemberph:SeniorNotesDue2025Member2022-03-31iso4217:EUR0000076334us-gaap:ForeignExchangeForwardMembersrt:ScenarioForecastMember2022-06-300000076334us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:CurrencySwapMember2022-03-310000076334us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:CurrencySwapMember2021-06-300000076334ph:NontradeandNotesReceivableMemberus-gaap:ForwardContractsMember2022-03-310000076334ph:NontradeandNotesReceivableMemberus-gaap:ForwardContractsMember2021-06-300000076334us-gaap:OtherCurrentLiabilitiesMemberus-gaap:ForwardContractsMember2022-03-310000076334us-gaap:OtherCurrentLiabilitiesMemberus-gaap:ForwardContractsMember2021-06-300000076334us-gaap:ForeignExchangeForwardMemberus-gaap:OtherCurrentLiabilitiesMember2022-03-310000076334us-gaap:ForeignExchangeForwardMemberus-gaap:OtherCurrentLiabilitiesMember2021-06-300000076334ph:NontradeandNotesReceivableMemberph:CostlessCollarContractsMember2022-03-310000076334ph:NontradeandNotesReceivableMemberph:CostlessCollarContractsMember2021-06-300000076334ph:CostlessCollarContractsMemberus-gaap:OtherCurrentLiabilitiesMember2022-03-310000076334ph:CostlessCollarContractsMemberus-gaap:OtherCurrentLiabilitiesMember2021-06-300000076334ph:CurrencySwapDueNovember2034Member2022-03-310000076334ph:CurrencySwapDueMay2038Member2022-03-31iso4217:JPY0000076334us-gaap:ForwardContractsMember2022-01-012022-03-310000076334us-gaap:ForwardContractsMember2021-01-012021-03-310000076334us-gaap:ForwardContractsMember2021-07-012022-03-310000076334us-gaap:ForwardContractsMember2020-07-012021-03-310000076334us-gaap:ForeignExchangeForwardMember2022-01-012022-03-310000076334us-gaap:ForeignExchangeForwardMember2021-07-012022-03-310000076334us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CurrencySwapMember2022-01-012022-03-310000076334us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CurrencySwapMember2021-01-012021-03-310000076334us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CurrencySwapMember2021-07-012022-03-310000076334us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CurrencySwapMember2020-07-012021-03-310000076334us-gaap:DesignatedAsHedgingInstrumentMemberph:ForeignDenominatedDebtMember2022-01-012022-03-310000076334us-gaap:DesignatedAsHedgingInstrumentMemberph:ForeignDenominatedDebtMember2021-01-012021-03-310000076334us-gaap:DesignatedAsHedgingInstrumentMemberph:ForeignDenominatedDebtMember2021-07-012022-03-310000076334us-gaap:DesignatedAsHedgingInstrumentMemberph:ForeignDenominatedDebtMember2020-07-012021-03-310000076334us-gaap:FairValueInputsLevel1Member2022-03-310000076334us-gaap:FairValueInputsLevel2Member2022-03-310000076334us-gaap:FairValueInputsLevel3Member2022-03-310000076334us-gaap:FairValueInputsLevel1Member2021-06-300000076334us-gaap:FairValueInputsLevel2Member2021-06-300000076334us-gaap:FairValueInputsLevel3Member2021-06-30
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-Q
| | | | | |
☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended March 31, 2022
OR | | | | | |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the transition period from to
Commission File number 1-4982
PARKER-HANNIFIN CORPORATION
(Exact name of registrant as specified in its charter)
| | | | | | | | | | | |
Ohio | 34-0451060 |
(State or other jurisdiction of Incorporation or Organization) | (I.R.S. Employer Identification No.) |
| | | |
6035 Parkland Boulevard, | Cleveland, | Ohio | 44124-4141 |
(Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code: (216) 896-3000
Securities registered pursuant to Section 12(b) of the Act: | | | | | | | | | | | | | | |
Title of Each Class | | Trading Symbol | | Name of Each Exchange on which Registered |
Common Shares, $.50 par value | | PH | | New York Stock Exchange |
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and "emerging growth company" in Rule 12b-2 of the Exchange Act:
| | | | | | | | | | | | | | | | | | | | |
Large accelerated filer | | ☒ | | Accelerated filer | | ☐ |
| | | |
Non-accelerated filer | | ☐ | | Smaller reporting company | | ☐ |
| | | | | | |
| | | | Emerging growth company | | ☐ |
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes ☐ No ☒
Number of Common Shares outstanding at March 31, 2022: 128,372,008
PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
PARKER-HANNIFIN CORPORATION
CONSOLIDATED STATEMENT OF INCOME
(Dollars in thousands, except per share amounts)
(Unaudited)
| | | | | | | | | | | | | | | | | | | | | | | |
| Three Months Ended | | Nine Months Ended |
| March 31, | | March 31, |
| 2022 | | 2021* | | 2022 | | 2021* |
Net sales | $ | 4,086,387 | | | $ | 3,746,326 | | | $ | 11,673,776 | | | $ | 10,388,771 | |
Cost of sales | 2,927,991 | | | 2,712,785 | | | 8,406,613 | | | 7,617,399 | |
Selling, general and administrative expenses | 412,431 | | | 386,831 | | | 1,200,906 | | | 1,113,254 | |
| | | | | | | |
Interest expense | 63,272 | | | 60,830 | | | 183,982 | | | 189,778 | |
Other expense (income), net | 248,704 | | | (13,460) | | | 386,217 | | | (122,066) | |
Income before income taxes | 433,989 | | | 599,340 | | | 1,496,058 | | | 1,590,406 | |
Income taxes | 85,901 | | | 126,101 | | | 308,778 | | | 348,514 | |
Net income | 348,088 | | | 473,239 | | | 1,187,280 | | | 1,241,892 | |
Less: Noncontrolling interest in subsidiaries' earnings | 71 | | | 86 | | | 506 | | | 585 | |
Net income attributable to common shareholders | $ | 348,017 | | | $ | 473,153 | | | $ | 1,186,774 | | | $ | 1,241,307 | |
| | | | | | | |
Earnings per share attributable to common shareholders: | | | | | | | |
Basic | $ | 2.71 | | | $ | 3.67 | | | $ | 9.23 | | | $ | 9.63 | |
Diluted | $ | 2.67 | | | $ | 3.60 | | | $ | 9.10 | | | $ | 9.50 | |
| | | | | | | |
*Prior period has been adj |