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, |
| | 2015 | | 2014 | | 2015 | | 2014 | | 2013 | | 2012 | | 2011 |
| EARNINGS | | | | | | | | | | | | | |
| Income from continuing operations before income taxes and noncontrolling interests | $ | 275,649 |
| | $ | 396,635 |
| | $ | 1,432,240 |
| | $ | 1,556,720 |
| | $ | 1,311,001 |
| | $ | 1,576,698 |
| | $ | 1,413,721 |
|
| Adjustments: | | | | | | | | | | | | | |
| Interest on indebtedness, exclusive of interest capitalized | 34,821 |
| | 20,281 |
| | 115,077 |
| | 79,845 |
| | 88,668 |
| | 89,888 |
| | 97,009 |
|
| Amortization of deferred loan costs | 939 |
| | 680 |
| | 3,329 |
| | 2,721 |
| | 2,884 |
| | 2,902 |
| | 2,695 |
|
| Portion of rents representative of interest factor | 10,471 |
| | 10,996 |
| | 41,886 |
| | 43,983 |
| | 44,493 |
| | 41,515 |
| | 39,499 |
|
| Loss (income) of equity investees | (5,181 | ) | | (5,854 | ) | | (23,204 | ) | | (11,141 | ) | | (247 | ) | | 1,237 |
| | 2,592 |
|
| Amortization of previously capitalized interest | 42 |
| | 48 |
| | 179 |
| | 190 |
| | 193 |
| | 196 |
| | 226 |
|
| Income as adjusted | $ | 316,741 |
| | $ | 422,786 |
| | $ | 1,569,507 |
| | $ | 1,672,318 |
| | $ | 1,446,992 |
| | $ | 1,712,436 |
| | $ | 1,555,742 |
|
| FIXED CHARGES | | | | | | | | | | | | | |
| Interest on indebtedness, exclusive of interest capitalized | $ | 34,821 |
| | $ | 20,281 |
| | $ | 115,077 |
| | $ | 79,845 |
| | $ | 88,668 |
| | $ | 89,888 |
| | $ | 97,009 |
|
| Amortization of deferred loan costs | 939 |
| | 680 |
| | 3,329 |
| | 2,721 |
| | 2,884 |
| | 2,902 |
| | 2,695 |
|
| Portion of rents representative of interest factor | 10,471 |
| | 10,996 |
| | 41,886 |
| | 43,983 |
| | 44,493 |
| | 41,515 |
| | 39,499 |
|
| Fixed charges | $ | 46,231 |
| | $ | 31,957 |
| | $ | 160,292 |
| | $ | 126,549 |
| | $ | 136,045 |
| | $ | 134,305 |
| | $ | 139,203 |
|
| | | | | | | | | | | | | | |
| RATIO OF EARNINGS TO FIXED CHARGES | 6.85 | x | | 13.23 | x | | 9.79 | x | | 13.21 | x | | 10.64 | x | | 12.75 | x | | 11.18 | x |
