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, | ||||||||||||||||||||||||||
| 2015 | 2014 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||||
| EARNINGS | |||||||||||||||||||||||||||
| Income from continuing operations before income taxes and noncontrolling interests | $ | 505,529 | $ | 739,901 | $ | 1,432,240 | $ | 1,556,720 | $ | 1,311,001 | $ | 1,576,698 | $ | 1,413,721 | |||||||||||||
| Adjustments: | |||||||||||||||||||||||||||
| Interest on indebtedness, exclusive of interest capitalized | 68,240 | 47,152 | 115,077 | 79,845 | 88,668 | 89,888 | 97,009 | ||||||||||||||||||||
| Amortization of deferred loan costs | 1,817 | 1,454 | 3,329 | 2,721 | 2,884 | 2,902 | 2,695 | ||||||||||||||||||||
| Portion of rents representative of interest factor | 20,943 | 21,991 | 41,886 | 43,983 | 44,493 | 41,515 | 39,499 | ||||||||||||||||||||
| Loss (income) of equity investees | (10,562 | ) | (11,188 | ) | (23,204 | ) | (11,141 | ) | (247 | ) | 1,237 | 2,592 | |||||||||||||||
| Amortization of previously capitalized interest | 84 | 95 | 179 | 190 | 193 | 196 | 226 | ||||||||||||||||||||
| Income as adjusted | $ | 586,051 | $ | 799,405 | $ | 1,569,507 | $ | 1,672,318 | $ | 1,446,992 | $ | 1,712,436 | $ | 1,555,742 | |||||||||||||
| FIXED CHARGES | |||||||||||||||||||||||||||
| Interest on indebtedness, exclusive of interest capitalized | $ | 68,240 | $ | 47,152 | $ | 115,077 | $ | 79,845 | $ | 88,668 | $ | 89,888 | $ | 97,009 | |||||||||||||
| Amortization of deferred loan costs | 1,817 | 1,454 | 3,329 | 2,721 | 2,884 | 2,902 | 2,695 | ||||||||||||||||||||
| Portion of rents representative of interest factor | 20,943 | 21,991 | 41,886 | 43,983 | 44,493 | 41,515 | 39,499 | ||||||||||||||||||||
| Fixed charges | $ | 91,000 | $ | 70,597 | $ | 160,292 | $ | 126,549 | $ | 136,045 | $ | 134,305 | $ | 139,203 | |||||||||||||
| RATIO OF EARNINGS TO FIXED CHARGES | 6.44 | x | 11.32 | x | 9.79 | x | 13.21 | x | 10.64 | x | 12.75 | x | 11.18 | x | |||||||||||||