Exhibit 12
Parker-Hannifin Corporation
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratios)
| Three months | ||||||||||||||||||||||||||||
| Ended September 30, | Fiscal Year Ended June 30, | |||||||||||||||||||||||||||
| 2011 | 2010 | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||||||
| EARNINGS |
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| Income from continuing operations before income taxes and noncontrolling interests |
$ | 411,585 | $ | 336,364 | $ | 1,413,721 | $ | 754,817 | $ | 683,083 | $ | 1,334,571 | $ | 1,166,463 | ||||||||||||||
| Adjustments: |
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| Interest on indebtedness, exclusive of interest capitalized and interest on ESOP loan guarantee |
22,496 | 24,036 | 97,009 | 101,173 | 109,911 | 96,572 | 80,053 | |||||||||||||||||||||
| Amortization of deferred loan costs |
725 | 597 | 2,695 | 2,426 | 2,143 | 1,793 | 1,511 | |||||||||||||||||||||
| Portion of rents representative of interest factor |
9,875 | 10,299 | 39,499 | 41,194 | 41,839 | 35,378 | 29,000 | |||||||||||||||||||||
| Loss (income) of equity investees |
(1,052 | ) | (85 | ) | 2,592 | 6,757 | (1,529 | ) | 2,596 | 1,059 | ||||||||||||||||||
| Amortization of previously capitalized interest |
49 | 64 | 226 | 259 | 262 | 278 | 282 | |||||||||||||||||||||
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| Income as adjusted |
$ | 443,678 | $ | 371,275 | $ | 1,555,742 | $ | 906,626 | $ | 835,709 | $ | 1,471,188 | $ | 1,278,368 | ||||||||||||||
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| FIXED CHARGES |
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| Interest on indebtedness, exclusive of interest capitalized and interest on ESOP loan guarantee |
$ | 22,496 | $ | 24,036 | $ | 97,009 | $ | 101,173 | $ | 109,911 | $ | 96,572 | $ | 80,053 | ||||||||||||||
| Capitalized interest |
436 | |||||||||||||||||||||||||||
| Amortization of deferred loan costs |
725 | 597 | 2,695 | 2,426 | 2,143 | 1,793 | 1,511 | |||||||||||||||||||||
| Portion of rents representative of interest factor |
9,875 | 10,299 | 39,499 | 41,194 | 41,839 | 35,378 | 29,000 | |||||||||||||||||||||
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| Fixed charges |
$ | 33,096 | $ | 34,932 | $ | 139,203 | $ | 144,793 | $ | 153,893 | $ | 133,743 | $ | 111,000 | ||||||||||||||
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| RATIO OF EARNINGS TO FIXED CHARGES |
13.41x | 10.63x | 11.18x | 6.26x | 5.43x | 11.00x | 11.52x | |||||||||||||||||||||