Exhibit 12
Parker-Hannifin Corporation
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratios)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Six Months Ended | | | | | | | | | | |
| | December 31, | | Fiscal Year Ended June 30, |
| | 2012 | | 2011 | | 2012 | | 2011 | | 2010 | | 2009 | | 2008 |
| EARNINGS | | | | | | | | | | | | | |
| Income from continuing operations before income taxes and noncontrolling interests | $ | 598,687 |
| | $ | 750,532 |
| | $ | 1,576,698 |
| | $ | 1,413,721 |
| | $ | 754,817 |
| | $ | 683,083 |
| | $ | 1,334,571 |
|
| Adjustments: | | | | | | | | | | | | | |
| Interest on indebtedness, exclusive of interest on ESOP loan guarantee | 46,232 |
| | 45,541 |
| | 89,888 |
| | 97,009 |
| | 101,173 |
| | 109,911 |
| | 96,572 |
|
| Amortization of deferred loan costs | 1,493 |
| | 1,449 |
| | 2,902 |
| | 2,695 |
| | 2,426 |
| | 2,143 |
| | 1,793 |
|
| Portion of rents representative of interest factor | 20,758 |
| | 19,749 |
| | 41,515 |
| | 39,499 |
| | 41,194 |
| | 41,839 |
| | 35,378 |
|
| Loss (income) of equity investees | (963 | ) | | 1,084 |
| | 1,237 |
| | 2,592 |
| | 6,757 |
| | (1,529 | ) | | 2,596 |
|
| Amortization of previously capitalized interest | 98 |
| | 98 |
| | 196 |
| | 226 |
| | 259 |
| | 262 |
| | 278 |
|
| Income as adjusted | $ | 666,305 |
| | $ | 818,453 |
| | $ | 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 | $ | 46,232 |
| | $ | 45,541 |
| | $ | 89,888 |
| | $ | 97,009 |
| | $ | 101,173 |
| | $ | 109,911 |
| | $ | 96,572 |
|
| Amortization of deferred loan costs | 1,493 |
| | 1,449 |
| | 2,902 |
| | 2,695 |
| | 2,426 |
| | 2,143 |
| | 1,793 |
|
| Portion of rents representative of interest factor | 20,758 |
| | 19,749 |
| | 41,515 |
| | 39,499 |
| | 41,194 |
| | 41,839 |
| | 35,378 |
|
| Fixed charges | $ | 68,483 |
| | $ | 66,739 |
| | $ | 134,305 |
| | $ | 139,203 |
| | $ | 144,793 |
| | $ | 153,893 |
| | $ | 133,743 |
|
| | | | | | | | | | | | | | |
| RATIO OF EARNINGS TO FIXED CHARGES | 9.73 | x | | 12.26 | x | | 12.75 | x | | 11.18 | x | | 6.26 | x | | 5.43 | x | | 11.00 | x |
