Exhibit 12
Parker-Hannifin Corporation
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratios)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | Nine Months Ended | | | | | | | | | | |
| | March 31, | | Fiscal Year Ended June 30, |
| | 2018 | | 2017 | | 2017 | | 2016 | | 2015 | | 2014 | | 2013 |
| EARNINGS | | | | | | | | | | | | | |
| Income from continuing operations before income taxes and noncontrolling interests | $ | 1,204,350 |
| | $ | 928,030 |
| | $ | 1,328,641 |
| | $ | 1,114,728 |
| | $ | 1,432,240 |
| | $ | 1,556,720 |
| | $ | 1,311,001 |
|
| Adjustments: | | | | | | | | | | | | | |
| Interest on indebtedness, exclusive of interest capitalized | 156,580 |
| | 106,516 |
| | 157,891 |
| | 133,004 |
| | 115,077 |
| | 79,845 |
| | 88,668 |
|
| Amortization of deferred loan costs | 4,253 |
| | 3,133 |
| | 4,545 |
| | 3,513 |
| | 3,329 |
| | 2,721 |
| | 2,884 |
|
| Portion of rents representative of interest factor | 29,858 |
| | 29,751 |
| | 39,574 |
| | 39,668 |
| | 41,886 |
| | 43,983 |
| | 44,493 |
|
| (Income) of equity investees | (34,398 | ) | | (29,969 | ) | | (42,352 | ) | | (25,648 | ) | | (23,204 | ) | | (11,141 | ) | | (247 | ) |
| Distributed income of equity investees | 43,036 |
| | 30,087 |
| | 45,760 |
| | 36,616 |
| | 31,723 |
| | 1,661 |
| | — |
|
| Amortization of previously capitalized interest | 98 |
| | 102 |
| | 134 |
| | 152 |
| | 179 |
| | 190 |
| | 193 |
|
| Income as adjusted | $ | 1,403,777 |
| | $ | 1,067,650 |
| | $ | 1,534,193 |
| | $ | 1,302,033 |
| | $ | 1,601,230 |
| | $ | 1,673,979 |
| | $ | 1,446,992 |
|
| FIXED CHARGES | | | | | | | | | | | | | |
| Interest on indebtedness, exclusive of interest capitalized | $ | 156,580 |
| | $ | 106,516 |
| | $ | 157,891 |
| | $ | 133,004 |
| | $ | 115,077 |
| | $ | 79,845 |
| | $ | 88,668 |
|
| Amortization of deferred loan costs | 4,253 |
| | 3,133 |
| | 4,545 |
| | 3,513 |
| | 3,329 |
| | 2,721 |
| | 2,884 |
|
| Portion of rents representative of interest factor | 29,858 |
| | 29,751 |
| | 39,574 |
| | 39,668 |
| | 41,886 |
| | 43,983 |
| | 44,493 |
|
| Fixed charges | $ | 190,691 |
| | $ | 139,400 |
| | $ | 202,010 |
| | $ | 176,185 |
| | $ | 160,292 |
| | $ | 126,549 |
| | $ | 136,045 |
|
| | | | | | | | | | | | | | |
| RATIO OF EARNINGS TO FIXED CHARGES | 7.36 | x | | 7.66 | x | | 7.59 | x | | 7.39 | x | | 9.99 | x | | 13.23 | x | | 10.64 | x |
