Exhibit 12
Exhibit (12) to Report
On Form 10-K for Fiscal
Year Ended June 30, 2008
By Parker-Hannifin Corporation
(In thousands)
Computation of Ratio of Earnings to Fixed Charges
| Fiscal Year Ended June 30, | ||||||||||||||||||
| 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||
| EARNINGS |
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| Income from continuing operations before income taxes |
$ | 1,326,524 | $ | 1,159,282 | $ | 899,958 | $ | 738,271 | $ | 472,956 | ||||||||
| Adjustments: |
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| Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee |
96,572 | 80,053 | 71,100 | 62,482 | 67,183 | |||||||||||||
| Amortization of deferred loan costs |
1,793 | 1,511 | 1,888 | 1,457 | 2,293 | |||||||||||||
| Portion of rents representative of interest factor |
35,378 | 29,000 | 25,609 | 21,507 | 21,213 | |||||||||||||
| Minority interests in consolidated subsidiaries |
8,048 | 7,181 | 1,532 | 1,856 | 2,479 | |||||||||||||
| Loss (income) of equity investees |
2,596 | 1,059 | (161 | ) | (1,935 | ) | (176 | ) | ||||||||||
| Amortization of previously capitalized interest |
278 | 282 | 304 | 280 | 291 | |||||||||||||
| Income as adjusted |
$ | 1,471,189 | $ | 1,278,368 | $ | 1,000,230 | $ | 823,918 | $ | 566,239 | ||||||||
| FIXED CHARGES |
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| Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee |
$ | 96,572 | $ | 80,053 | $ | 71,100 | $ | 62,482 | $ | 67,183 | ||||||||
| Capitalized interest |
436 | 178 | ||||||||||||||||
| Amortization of deferred loan costs |
1,793 | 1,511 | 1,888 | 1,457 | 2,293 | |||||||||||||
| Portion of rents representative of interest factor |
35,378 | 29,000 | 25,609 | 21,507 | 21,213 | |||||||||||||
| Fixed charges |
$ | 133,743 | $ | 111,000 | $ | 98,775 | $ | 85,446 | $ | 90,689 | ||||||||
| RATIO OF EARNINGS TO FIXED CHARGES |
11.00x | 11.52x | 10.13x | 9.64x | 6.24x | |||||||||||||