Exhibit (12) to Annual Report
on Form 10-K
for Fiscal Year Ended June 30, 2014
By Parker-Hannifin Corporation
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratios)
|
| | | | | | | | | | | | | | | | | | | |
| | Fiscal Year Ended June 30, |
| | 2014 | | 2013 | | 2012 | | 2011 | | 2010 |
| EARNINGS | | | | | | | | | |
| Income from continuing operations before income taxes and noncontrolling interests | $ | 1,556,720 |
| | $ | 1,311,001 |
| | $ | 1,576,698 |
| | $ | 1,413,721 |
| | $ | 754,817 |
|
| Adjustments: | | | | | | | | | |
| Interest on indebtedness, exclusive of interest capitalized | 79,845 |
| | 88,668 |
| | 89,888 |
| | 97,009 |
| | 101,173 |
|
| Amortization of deferred loan costs | 2,721 |
| | 2,884 |
| | 2,902 |
| | 2,695 |
| | 2,426 |
|
| Portion of rents representative of interest factor | 43,983 |
| | 44,493 |
| | 41,515 |
| | 39,499 |
| | 41,194 |
|
| (Income) loss of equity investees | (11,141 | ) | | (247 | ) | | 1,237 |
| | 2,592 |
| | 6,757 |
|
| Amortization of previously capitalized interest | 190 |
| | 193 |
| | 196 |
| | 226 |
| | 259 |
|
| Income as adjusted | $ | 1,672,318 |
| | $ | 1,446,992 |
| | $ | 1,712,436 |
| | $ | 1,555,742 |
| | $ | 906,626 |
|
| FIXED CHARGES | | | | | | | | | |
| Interest on indebtedness, exclusive of interest capitalized | $ | 79,845 |
| | $ | 88,668 |
| | $ | 89,888 |
| | $ | 97,009 |
| | $ | 101,173 |
|
| Amortization of deferred loan costs | 2,721 |
| | 2,884 |
| | 2,902 |
| | 2,695 |
| | 2,426 |
|
| Portion of rents representative of interest factor | 43,983 |
| | 44,493 |
| | 41,515 |
| | 39,499 |
| | 41,194 |
|
| Fixed charges | $ | 126,549 |
| | $ | 136,045 |
| | $ | 134,305 |
| | $ | 139,203 |
| | $ | 144,793 |
|
| RATIO OF EARNINGS TO FIXED CHARGES | 13.21x | | 10.64x | | 12.75x | | 11.18x | | 6.26x |
