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, | |||||||||||||||||||||||||
| 2008 | 2007 | 2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||||||
| EARNINGS |
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| Income from continuing operations before income taxes |
$ | 356,729 | $ | 317,742 | $ | 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 |
27,496 | 21,809 | 96,572 | 80,053 | 71,100 | 62,482 | 67,183 | |||||||||||||||||||
| Amortization of deferred loan costs |
583 | 395 | 1,793 | 1,511 | 1,888 | 1,457 | 2,293 | |||||||||||||||||||
| Portion of rents representative of interest factor |
8,845 | 7,250 | 35,378 | 29,000 | 25,609 | 21,507 | 21,213 | |||||||||||||||||||
| Minority interests in consolidated subsidiaries |
1,658 | 1,392 | 8,048 | 7,181 | 1,532 | 1,856 | 2,479 | |||||||||||||||||||
| Loss (income) of equity investees |
(182 | ) | (71 | ) | 2,596 | 1,059 | (161 | ) | (1,935 | ) | (176 | ) | ||||||||||||||
| Amortization of previously capitalized interest |
65 | 72 | 278 | 282 | 304 | 280 | 291 | |||||||||||||||||||
| Income as adjusted |
$ | 395,194 | $ | 348,589 | $ | 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 |
$ | 27,496 | $ | 21,809 | $ | 96,572 | $ | 80,053 | $ | 71,100 | $ | 62,482 | $ | 67,183 | ||||||||||||
| Capitalized interest |
436 | 178 | ||||||||||||||||||||||||
| Amortization of deferred loan costs |
583 | 395 | 1,793 | 1,511 | 1,888 | 1,457 | 2,293 | |||||||||||||||||||
| Portion of rents representative of interest factor |
8,845 | 7,250 | 35,378 | 29,000 | 25,609 | 21,507 | 21,213 | |||||||||||||||||||
| Fixed charges |
$ | 36,924 | $ | 29,454 | $ | 133,743 | $ | 111,000 | $ | 98,775 | $ | 85,446 | $ | 90,689 | ||||||||||||
| RATIO OF EARNINGS TO FIXED CHARGES |
10.70x | 11.84x | 11.00x | 11.52x | 10.13x | 9.64x | 6.24x | |||||||||||||||||||