Exhibit 12 Exhibit (12) * to Report on Form 10-K for Fiscal Year Ended June 30, 2002 by Parker-Hannifin Corporation Computation of Ratio of Earnings to Fixed Charges as of June 30, 2002
Fiscal Year Ended June 30, ---------------------------------------------------- 2002 2001 2000 1999 1998 ---------------------------------------------------- EARNINGS Income from continuing operations before income taxes $218,036 $533,596 $562,187 $477,694 $503,988 Add: Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee 75,994 83,728 51,576 63,132 52,463 Amortization of deferred loan costs 1,357 810 659 565 324 Portion of rents representative of interest factor 20,509 18,663 13,457 14,093 12,355 Equity share of losses of companies for which debt obligations are not guaranteed 6,078 1,571 1,359 583 Amortization of previously capitalized interest 297 274 254 313 296 ---------------------------------------------------- Income as adjusted $322,271 $638,642 $629,492 $555,797 $570,009 ==================================================== FIXED CHARGES Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee $ 75,994 $ 83,728 $ 51,576 $ 63,132 $ 52,463 Capitalized interest 2 1,372 Amortization of deferred loan costs 1,357 810 659 565 324 Portion of rents representative of interest factor 20,509 18,663 13,457 14,093 12,355 ---------------------------------------------------- Fixed charges $ 97,860 $103,201 $ 65,692 $ 77,792 $ 66,514 ==================================================== RATIO OF EARNINGS TO FIXED CHARGES 3.29x 6.19x 9.58x 7.14x 8.57x