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, |
| | 2016 | | 2015 | | 2016 | | 2015 | | 2014 | | 2013 | | 2012 |
| EARNINGS | | | | | | | | | | | | | |
| Income from continuing operations before income taxes and noncontrolling interests | $ | 292,245 |
| | $ | 275,649 |
| | $ | 1,114,728 |
| | $ | 1,432,240 |
| | $ | 1,556,720 |
| | $ | 1,311,001 |
| | $ | 1,576,698 |
|
| Adjustments: | | | | | | | | | | | | | |
| Interest on indebtedness, exclusive of interest capitalized | 33,069 |
| | 34,821 |
| | 133,004 |
| | 115,077 |
| | 79,845 |
| | 88,668 |
| | 89,888 |
|
| Amortization of deferred loan costs | 1,079 |
| | 939 |
| | 3,513 |
| | 3,329 |
| | 2,721 |
| | 2,884 |
| | 2,902 |
|
| Portion of rents representative of interest factor | 9,917 |
| | 10,471 |
| | 39,668 |
| | 41,886 |
| | 43,983 |
| | 44,493 |
| | 41,515 |
|
| Loss (income) of equity investees | (8,062 | ) | | (5,181 | ) | | (25,648 | ) | | (23,204 | ) | | (11,141 | ) | | (247 | ) | | 1,237 |
|
| Distributed income of equity investees | 10,448 |
| | 13,702 |
| | 36,616 |
| | 31,723 |
| | 1,661 |
| | — |
| | — |
|
| Amortization of previously capitalized interest | 34 |
| | 42 |
| | 152 |
| | 179 |
| | 190 |
| | 193 |
| | 196 |
|
| Income as adjusted | $ | 338,730 |
| | $ | 330,443 |
| | $ | 1,302,033 |
| | $ | 1,601,230 |
| | $ | 1,673,979 |
| | $ | 1,446,992 |
| | $ | 1,712,436 |
|
| FIXED CHARGES | | | | | | | | | | | | | |
| Interest on indebtedness, exclusive of interest capitalized | $ | 33,069 |
| | $ | 34,821 |
| | $ | 133,004 |
| | $ | 115,077 |
| | $ | 79,845 |
| | $ | 88,668 |
| | $ | 89,888 |
|
| Amortization of deferred loan costs | 1,079 |
| | 939 |
| | 3,513 |
| | 3,329 |
| | 2,721 |
| | 2,884 |
| | 2,902 |
|
| Portion of rents representative of interest factor | 9,917 |
| | 10,471 |
| | 39,668 |
| | 41,886 |
| | 43,983 |
| | 44,493 |
| | 41,515 |
|
| Fixed charges | $ | 44,065 |
| | $ | 46,231 |
| | $ | 176,185 |
| | $ | 160,292 |
| | $ | 126,549 |
| | $ | 136,045 |
| | $ | 134,305 |
|
| | | | | | | | | | | | | | |
| RATIO OF EARNINGS TO FIXED CHARGES | 7.69 | x | | 7.15 | x | | 7.39 | x | | 9.99 | x | | 13.23 | x | | 10.64 | x | | 12.75 | x |
