Exhibit 12
PARKER-HANNIFIN CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands)
| Three months Ended September 30, |
Fiscal Year Ended June 30, | ||||||||||||||||||||
| 2006 | 2005 | 2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||
| EARNINGS |
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| Income from continuing operations before income taxes |
$ | 301,659 | $ | 204,040 | $ | 899,958 | $ | 738,271 | $ | 472,956 | $ | 286,608 | $ | 218,036 | |||||||
| Add: |
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| Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee |
16,393 | 15,030 | 71,278 | 62,482 | 67,183 | 75,068 | 75,994 | ||||||||||||||
| Amortization of deferred loan costs |
369 | 841 | 1,888 | 1,457 | 2,293 | 1,786 | 1,357 | ||||||||||||||
| Portion of rents representative of interest factor |
6,402 | 5,377 | 25,609 | 21,507 | 21,213 | 20,585 | 20,509 | ||||||||||||||
| Equity share of losses of companies for which debt obligations are not guaranteed |
378 | 897 | 2,895 | 6,078 | |||||||||||||||||
| Amortization of previously capitalized interest |
69 | 68 | 304 | 280 | 291 | 291 | 297 | ||||||||||||||
| Income as adjusted |
$ | 325,270 | $ | 225,356 | $ | 999,934 | $ | 823,997 | $ | 563,936 | $ | 387,233 | $ | 322,271 | |||||||
| FIXED CHARGES |
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| Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee |
$ | 16,393 | $ | 15,030 | $ | 71,278 | $ | 62,482 | $ | 67,183 | $ | 75,068 | $ | 75,994 | |||||||
| Capitalized interest |
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| Amortization of deferred loan costs |
369 | 841 | 1,888 | 1,457 | 2,293 | 1,786 | 1,357 | ||||||||||||||
| Portion of rents representative of interest factor |
6,402 | 5,377 | 25,609 | 21,507 | 21,213 | 20,585 | 20,509 | ||||||||||||||
| Fixed charges |
$ | 23,164 | $ | 21,248 | $ | 98,775 | $ | 85,446 | $ | 90,689 | $ | 97,439 | $ | 97,860 | |||||||
| 14.04x | 10.61x | 10.12x | 9.64x | 6.22x | 3.97x | 3.29x | |||||||||||||||