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, | |||||||||||||||||||||||||||
| 2007 | 2006 | 2007 | 2006 | 2005 | 2004 | 2003 | ||||||||||||||||||||||
| EARNINGS |
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| Income from continuing operations before income taxes |
$ | 317,742 | $ | 301,659 | $ | 1,159,282 | $ | 899,958 | $ | 738,271 | $ | 472,956 | $ | 286,608 | ||||||||||||||
| Add: |
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| Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee |
21,809 | 16,312 | 80,053 | 71,100 | 62,482 | 67,183 | 75,068 | |||||||||||||||||||||
| Amortization of deferred loan costs |
395 | 369 | 1,511 | 1,888 | 1,457 | 2,293 | 1,786 | |||||||||||||||||||||
| Portion of rents representative of interest factor |
7,250 | 6,402 | 29,000 | 25,609 | 21,507 | 21,213 | 20,585 | |||||||||||||||||||||
| Equity share of losses of companies for which debt obligations are not guaranteed |
139 | 378 | 2,124 | 897 | 2,895 | |||||||||||||||||||||||
| Amortization of previously capitalized interest |
72 | 69 | 282 | 304 | 280 | 291 | 291 | |||||||||||||||||||||
| Income as adjusted |
$ | 347,407 | $ | 325,189 | $ | 1,272,252 | $ | 999,756 | $ | 823,997 | $ | 563,936 | $ | 387,233 | ||||||||||||||
| FIXED CHARGES |
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| Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee |
$ | 21,809 | $ | 16,312 | $ | 80,053 | $ | 71,100 | $ | 62,482 | $ | 67,183 | $ | 75,068 | ||||||||||||||
| Capitalized interest |
81 | 436 | 178 | |||||||||||||||||||||||||
| Amortization of deferred loan costs |
395 | 369 | 1,511 | 1,888 | 1,457 | 2,293 | 1,786 | |||||||||||||||||||||
| Portion of rents representative of interest factor |
7,250 | 6,402 | 29,000 | 25,609 | 21,507 | 21,213 | 20,585 | |||||||||||||||||||||
| Fixed charges |
$ | 29,454 | $ | 23,164 | $ | 111,000 | $ | 98,775 | $ | 85,446 | $ | 90,689 | $ | 97,439 | ||||||||||||||
| 11.79 | x | 14.04 | x | 11.46 | x | 10.12 | x | 9.64 | x | 6.22 | x | 3.97 | x | |||||||||||||||