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, | |||||||||||||||||||||||||||
| 2010 | 2009 | 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||||||
| EARNINGS | ||||||||||||||||||||||||||||
| Income from continuing operations before income taxes and noncontrolling interests |
$ | 336,364 | $ | 114,029 | $ | 754,817 | $ | 683,083 | $ | 1,334,571 | $ | 1,166,463 | $ | 901,490 | ||||||||||||||
| Adjustments: |
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| Interest on indebtedness, exclusive of interest capitalized and interest on ESOP loan guarantee |
24,036 | 24,989 | 101,173 | 109,911 | 96,572 | 80,053 | 71,100 | |||||||||||||||||||||
| Amortization of deferred loan costs |
597 | 734 | 2,426 | 2,143 | 1,793 | 1,511 | 1,888 | |||||||||||||||||||||
| Portion of rents representative of interest factor |
10,299 | 10,460 | 41,194 | 41,839 | 35,378 | 29,000 | 25,609 | |||||||||||||||||||||
| (Income) loss of equity investees |
(85 | ) | (73 | ) | 6,757 | (1,529 | ) | 2,596 | 1,059 | (161 | ) | |||||||||||||||||
| Amortization of previously capitalized interest |
64 | 65 | 259 | 262 | 278 | 282 | 304 | |||||||||||||||||||||
| Income as adjusted |
$ | 371,275 | $ | 150,204 | $ | 906,626 | $ | 835,709 | $ | 1,471,188 | $ | 1,278,368 | $ | 1,000,230 | ||||||||||||||
| FIXED CHARGES | ||||||||||||||||||||||||||||
| Interest on indebtedness, exclusive of interest capitalized and interest on ESOP loan guarantee |
$ | 24,036 | $ | 24,989 | $ | 101,173 | $ | 109,911 | $ | 96,572 | $ | 80,053 | $ | 71,100 | ||||||||||||||
| Capitalized interest |
436 | 178 | ||||||||||||||||||||||||||
| Amortization of deferred loan costs |
597 | 734 | 2,426 | 2,143 | 1,793 | 1,511 | 1,888 | |||||||||||||||||||||
| Portion of rents representative of interest factor |
10,299 | 10,460 | 41,194 | 41,839 | 35,378 | 29,000 | 25,609 | |||||||||||||||||||||
| Fixed charges |
$ | 34,932 | $ | 36,183 | $ | 144,793 | $ | 153,893 | $ | 133,743 | $ | 111,000 | $ | 98,775 | ||||||||||||||
| RATIO OF EARNINGS TO FIXED CHARGES |
10.63x | 4.15x | 6.26x | 5.43x | 11.00x | 11.52x | 10.13x | |||||||||||||||||||||