Exhibit 12 EXHIBIT (12)* TO REPORT ON FORM 10-K FOR FISCAL YEAR ENDED JUNE 30, 1999 BY PARKER-HANNIFIN CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AS OF JUNE 30, 1999 EXHIBIT 12 PARKER-HANNIFIN CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (IN THOUSANDS)
Fiscal Year Ended June 30, 1999 1998 1997 1996 1995 ----------------------------------------------- EARNINGS -------- Income from continuing operations before $477,694 $503,988 $424,867 $374,479 $348,407 income taxes Add: Interest on indebtedness, exclusive of 63,132 52,463 46,373 35,665 28,884 interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee Amortization of deferred loan costs 565 324 286 146 128 Portion of rents representative of 14,093 12,355 11,102 9,966 8,791 interest factor Equity share of losses of companies 583 1,327 513 392 for which debt obligations are not guaranteed Amortization of previously capitalized 313 296 220 219 216 interest ------------------------------------------------ Income as adjusted $555,797 $570,009 $484,175 $420,988 $386,818 ================================================ FIXED CHARGES - ------------- Interest on indebtedness, exclusive of $ 63,132 $ 52,463 $ 46,373 $ 35,665 $ 28,884 interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee Capitalized interest 2 1,372 272 538 283 Amortization of deferred loan costs 565 324 286 146 128 Portion of rents representative of 14,093 12,355 11,102 9,966 8,791 interest factor ------------------------------------------------ Fixed charges $ 77,792 $ 66,514 $ 58,033 $ 46,315 $ 38,086 ================================================ RATIO OF EARNINGS TO FIXED CHARGES 7.14x 8.57x 8.34x 9.09x 10.16x - ----------------------------------
* NUMBERED IN ACCORDANCE WITH ITEM 601 OF REGULATION S-K.