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, | ||||||||||||||||||||||||||
| 2013 | 2012 | 2013 | 2012 | 2011 | 2010 | 2009 | |||||||||||||||||||||
| EARNINGS | |||||||||||||||||||||||||||
| Income from continuing operations before income taxes and noncontrolling interests | $ | 819,406 | $ | 598,687 | $ | 1,311,001 | $ | 1,576,698 | $ | 1,413,721 | $ | 754,817 | $ | 683,083 | |||||||||||||
| Adjustments: | |||||||||||||||||||||||||||
| Interest on indebtedness, exclusive of interest on ESOP loan guarantee | 40,448 | 46,232 | 88,668 | 89,888 | 97,009 | 101,173 | 109,911 | ||||||||||||||||||||
| Amortization of deferred loan costs | 1,361 | 1,493 | 2,884 | 2,902 | 2,695 | 2,426 | 2,143 | ||||||||||||||||||||
| Portion of rents representative of interest factor | 22,246 | 20,758 | 44,493 | 41,515 | 39,499 | 41,194 | 41,839 | ||||||||||||||||||||
| Loss (income) of equity investees | (1,245 | ) | (963 | ) | (247 | ) | 1,237 | 2,592 | 6,757 | (1,529 | ) | ||||||||||||||||
| Amortization of previously capitalized interest | 95 | 98 | 193 | 196 | 226 | 259 | 262 | ||||||||||||||||||||
| Income as adjusted | $ | 882,311 | $ | 666,305 | $ | 1,446,992 | $ | 1,712,436 | $ | 1,555,742 | $ | 906,626 | $ | 835,709 | |||||||||||||
| FIXED CHARGES | |||||||||||||||||||||||||||
| Interest on indebtedness, exclusive of interest capitalized and interest on ESOP loan guarantee | $ | 40,448 | $ | 46,232 | $ | 88,668 | $ | 89,888 | $ | 97,009 | $ | 101,173 | $ | 109,911 | |||||||||||||
| Amortization of deferred loan costs | 1,361 | 1,493 | 2,884 | 2,902 | 2,695 | 2,426 | 2,143 | ||||||||||||||||||||
| Portion of rents representative of interest factor | 22,246 | 20,758 | 44,493 | 41,515 | 39,499 | 41,194 | 41,839 | ||||||||||||||||||||
| Fixed charges | $ | 64,055 | $ | 68,483 | $ | 136,045 | $ | 134,305 | $ | 139,203 | $ | 144,793 | $ | 153,893 | |||||||||||||
| RATIO OF EARNINGS TO FIXED CHARGES | 13.77 | x | 9.73 | x | 10.64 | x | 12.75 | x | 11.18 | x | 6.26 | x | 5.43 | x | |||||||||||||