Exhibit 12
PARKER-HANNIFIN CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands)
| Six Months Ended December 31, |
Fiscal Year Ended June 30, | ||||||||||||||||||||
| 2007 | 2006 | 2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||
| EARNINGS |
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| Income from continuing operations before income taxes |
$ | 613,912 | $ | 566,422 | $ | 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 |
47,212 | 37,692 | 80,053 | 71,100 | 62,482 | 67,183 | 75,068 | ||||||||||||||
| Amortization of deferred loan costs |
810 | 743 | 1,511 | 1,888 | 1,457 | 2,293 | 1,786 | ||||||||||||||
| Portion of rents representative of interest factor |
14,500 | 12,805 | 29,000 | 25,609 | 21,507 | 21,213 | 20,585 | ||||||||||||||
| Equity share of losses of companies for which debt obligations are not guaranteed |
310 | 879 | 2,124 | 897 | 2,895 | ||||||||||||||||
| Amortization of previously capitalized interest |
143 | 139 | 282 | 304 | 280 | 291 | 291 | ||||||||||||||
| Income as adjusted | $ | 676,887 | $ | 618,680 | $ | 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 |
$ | 47,212 | $ | 37,692 | $ | 80,053 | $ | 71,100 | $ | 62,482 | $ | 67,183 | $ | 75,068 | |||||||
| Capitalized interest |
81 | 436 | 178 | ||||||||||||||||||
| Amortization of deferred loan costs |
810 | 743 | 1,511 | 1,888 | 1,457 | 2,293 | 1,786 | ||||||||||||||
| Portion of rents representative of interest factor |
14,500 | 12,805 | 29,000 | 25,609 | 21,507 | 21,213 | 20,585 | ||||||||||||||
| Fixed charges | $ | 62,522 | $ | 51,321 | $ | 111,000 | $ | 98,775 | $ | 85,446 | $ | 90,689 | $ | 97,439 | |||||||
| 10.83x | 12.06x | 11.46x | 10.12x | 9.64x | 6.22x | 3.97x | |||||||||||||||