Exhibit 12
PARKER-HANNIFIN CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
                                                         
    Nine Months Ended        
    March 31,     Fiscal Year Ended June 30,  
    2007     2006     2006     2005     2004     2003     2002  
EARNINGS
                                                       
Income from continuing operations before income taxes
  $ 861,348     $ 634,632     $ 899,958     $ 738,271     $ 472,956     $ 286,608     $ 218,036  
Add:
                                                       
Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee
    59,205       53,846       71,100       62,482       67,183       75,068       75,994  
Amortization of deferred loan costs
    1,121       1,520       1,888       1,457       2,293       1,786       1,357  
Portion of rents representative of interest factor
    19,207       16,130       25,609       21,507       21,213       20,585       20,509  
Equity share of losses of companies for which debt obligations are not guaranteed
    868       563       897                       2,895       6,078  
Amortization of previously capitalized interest
    210       202       304       280       291       291       297  
 
                                         
Income as adjusted
  $ 941,959     $ 706,893     $ 999,756     $ 823,997     $ 563,936     $ 387,233     $ 322,271  
 
                                         
FIXED CHARGES
                                                       
Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee
  $ 59,205     $ 53,846     $ 71,100     $ 62,482     $ 67,183     $ 75,068     $ 75,994  
Capitalized interest
    436       40       178                                  
Amortization of deferred loan costs
    1,121       1,520       1,888       1,457       2,293       1,786       1,357  
Portion of rents representative of interest factor
    19,207       16,130       25,609       21,507       21,213       20,585       20,509  
 
                                         
Fixed charges
  $ 79,969     $ 71,536     $ 98,775     $ 85,446     $ 90,689     $ 97,439     $ 97,860  
 
                                         
 
    11.78 x     9.88 x     10.12 x     9.64 x     6.22 x     3.97 x     3.29 x