Exhibit 12
Exhibit (12) * to Report
on Form 10-K for Fiscal
Year Ended June 30, 2005
by Parker-Hannifin Corporation
Computation of Ratio of Earnings to Fixed Charges
as of June 30, 2005
| Fiscal Year Ended June 30, | |||||||||||||||
| 2005 |
2004 |
2003 |
2002 |
2001 | |||||||||||
| EARNINGS |
|||||||||||||||
| Income from continuing operations before income taxes |
$ | 756,473 | $ | 480,126 | $ | 287,997 | $ | 218,036 | $ | 528,183 | |||||
| Add: |
|||||||||||||||
| Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee |
62,643 | 67,258 | 75,226 | 75,994 | 89,141 | ||||||||||
| Amortization of deferred loan costs |
1,457 | 2,293 | 1,786 | 1,357 | 810 | ||||||||||
| Portion of rents representative of interest factor |
22,117 | 21,751 | 21,110 | 20,509 | 18,663 | ||||||||||
| Equity share of losses of companies for which debt obligations are not guaranteed |
2,895 | 6,078 | 1,571 | ||||||||||||
| Amortization of previously capitalized interest |
280 | 291 | 291 | 297 | 274 | ||||||||||
| Income as adjusted |
$ | 842,970 | $ | 571,719 | $ | 389,305 | $ | 322,271 | $ | 638,642 | |||||
| FIXED CHARGES |
|||||||||||||||
| Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee |
$ | 62,643 | $ | 67,258 | $ | 75,226 | $ | 75,994 | $ | 89,141 | |||||
| Amortization of deferred loan costs |
1,457 | 2,293 | 1,786 | 1,357 | 810 | ||||||||||
| Portion of rents representative of interest factor |
22,117 | 21,751 | 21,110 | 20,509 | 18,663 | ||||||||||
| Fixed charges |
$ | 86,217 | $ | 91,302 | $ | 98,122 | $ | 97,860 | $ | 108,614 | |||||
| RATIO OF EARNINGS TO FIXED CHARGES |
9.78x | 6.26x | 3.97x | 3.29x | 5.88x | ||||||||||
Note: Certain amounts presented, as applicable, have been restated to reflect a business divested in December 2004 as discontinued operations.