Parker-Hannifin (PH) 10-Q 2013 Q1 Quarterly report

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,
	2012			2011			2012			2011			2010			2009			2008
EARNINGS
Income from continuing operations before income taxes and noncontrolling interests	$	336,058		$	411,585		$	1,576,698		$	1,413,721		$	754,817		$	683,083		$	1,334,571
Adjustments:
Interest on indebtedness, exclusive of interest on ESOP loan guarantee	22,787			22,496			89,888			97,009			101,173			109,911			96,572
Amortization of deferred loan costs	722			725			2,902			2,695			2,426			2,143			1,793
Portion of rents representative of interest factor	10,379			9,875			41,515			39,499			41,194			41,839			35,378
Loss (income) of equity investees	(735		)	(1,052		)	1,237			2,592			6,757			(1,529		)	2,596
Amortization of previously capitalized interest	49			49			196			226			259			262			278
Income as adjusted	$	369,260		$	443,678		$	1,712,436		$	1,555,742		$	906,626		$	835,709		$	1,471,188
FIXED CHARGES
Interest on indebtedness, exclusive of interest capitalized and interest on ESOP loan guarantee	$	22,787		$	22,496		$	89,888		$	97,009		$	101,173		$	109,911		$	96,572
Amortization of deferred loan costs	722			725			2,902			2,695			2,426			2,143			1,793
Portion of rents representative of interest factor	10,379			9,875			41,515			39,499			41,194			41,839			35,378
Fixed charges	$	33,888		$	33,096		$	134,305		$	139,203		$	144,793		$	153,893		$	133,743
RATIO OF EARNINGS TO FIXED CHARGES	10.90		x	13.41		x	12.75		x	11.18		x	6.26		x	5.43		x	11.00		x