Exhibit 12
PARKER-HANNIFIN CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands)
| Nine Months Ended March 31, |
Fiscal Year Ended June 30, | |||||||||||||||||||||||||||
| 2011 | 2010 | 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||||||
| EARNINGS |
||||||||||||||||||||||||||||
| Income from continuing operations before income taxes and noncontrolling interests |
$ | 1,032,331 | $ | 462,657 | $ | 754,817 | $ | 683,083 | $ | 1,334,571 | $ | 1,166,463 | $ | 901,490 | ||||||||||||||
| Adjustments: |
||||||||||||||||||||||||||||
| Interest on indebtedness, exclusive of interest capitalized and interest on ESOP loan guarantee |
72,919 | 74,821 | 101,173 | 109,911 | 96,572 | 80,053 | 71,100 | |||||||||||||||||||||
| Amortization of deferred loan costs |
1,964 | 1,882 | 2,426 | 2,143 | 1,793 | 1,511 | 1,888 | |||||||||||||||||||||
| Portion of rents representative of interest factor |
30,896 | 31,379 | 41,194 | 41,839 | 35,378 | 29,000 | 25,609 | |||||||||||||||||||||
| Loss (income) of equity investees |
2,796 | (236 | ) | 6,757 | (1,529 | ) | 2,596 | 1,059 | (161 | ) | ||||||||||||||||||
| Amortization of previously capitalized interest |
177 | 196 | 259 | 262 | 278 | 282 | 304 | |||||||||||||||||||||
| Income as adjusted |
$ | 1,141,083 | $ | 570,699 | $ | 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 |
$ | 72,919 | $ | 74,821 | $ | 101,173 | $ | 109,911 | $ | 96,572 | $ | 80,053 | $ | 71,100 | ||||||||||||||
| Capitalized interest |
436 | 178 | ||||||||||||||||||||||||||
| Amortization of deferred loan costs |
1,964 | 1,882 | 2,426 | 2,143 | 1,793 | 1,511 | 1,888 | |||||||||||||||||||||
| Portion of rents representative of interest factor |
30,896 | 31,379 | 41,194 | 41,839 | 35,378 | 29,000 | 25,609 | |||||||||||||||||||||
| Fixed charges |
$ | 105,779 | $ | 108,082 | $ | 144,793 | $ | 153,893 | $ | 133,743 | $ | 111,000 | $ | 98,775 | ||||||||||||||
| RATIO OF EARNINGS TO FIXED CHARGES |
10.79x | 5.28x | 6.26x | 5.43x | 11.00x | 11.52x | 10.13x | |||||||||||||||||||||