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,
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2002 2001 2000 1999 1998
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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
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Income as adjusted $322,271 $638,642 $629,492 $555,797 $570,009
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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
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Fixed charges $ 97,860 $103,201 $ 65,692 $ 77,792 $ 66,514
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RATIO OF EARNINGS TO FIXED CHARGES 3.29x 6.19x 9.58x 7.14x 8.57x