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, | ||||||||||||||||||||||||
| 2009 | 2008 | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||||||
| EARNINGS |
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| Income from continuing operations before income taxes and noncontrolling interests |
$ | 256,264 | $ | 557,621 | $ | 683,083 | $ | 1,334,572 | $ | 1,166,463 | $ | 901,490 | $ | 740,127 | |||||||||||
| Adjustments: |
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| Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee |
49,439 | 57,218 | 109,911 | 96,572 | 80,053 | 71,100 | 62,482 | ||||||||||||||||||
| Amortization of deferred loan costs |
1,313 | 1,168 | 2,143 | 1,793 | 1,511 | 1,888 | 1,457 | ||||||||||||||||||
| Portion of rents representative of interest factor |
20,919 | 17,689 | 41,839 | 35,378 | 29,000 | 25,609 | 21,507 | ||||||||||||||||||
| Loss (income) of equity investees |
108 | (245 | ) | (1,529 | ) | 2,596 | 1,059 | (161 | ) | (1,935 | ) | ||||||||||||||
| Amortization of previously capitalized interest |
131 | 131 | 262 | 278 | 282 | 304 | 280 | ||||||||||||||||||
| Income as adjusted |
$ | 328,174 | $ | 633,582 | $ | 835,709 | $ | 1,471,189 | $ | 1,278,368 | $ | 1,000,230 | $ | 823,918 | |||||||||||
| FIXED CHARGES |
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| Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee |
$ | 49,439 | $ | 57,218 | $ | 109,911 | $ | 96,572 | $ | 80,053 | $ | 71,100 | $ | 62,482 | |||||||||||
| Capitalized interest |
436 | 178 | |||||||||||||||||||||||
| Amortization of deferred loan costs |
1,313 | 1,168 | 2,143 | 1,793 | 1,511 | 1,888 | 1,457 | ||||||||||||||||||
| Portion of rents representative of interest factor |
20,919 | 17,689 | 41,839 | 35,378 | 29,000 | 25,609 | 21,507 | ||||||||||||||||||
| Fixed charges |
$ | 71,671 | $ | 76,075 | $ | 153,893 | $ | 133,743 | $ | 111,000 | $ | 98,775 | $ | 85,446 | |||||||||||
| RATIO OF EARNINGS TO FIXED CHARGES |
4.58x | 8.33x | 5.43x | 11.00x | 11.52x | 10.13x | 9.64x | ||||||||||||||||||