Exhibit 12
PARKER-HANNIFIN CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands)
Nine months Ended March 31, | Fiscal Year Ended June 30, | ||||||||||||||||||||
2004 | 2003 | 2003 | 2002 | 2001 | 2000 | 1999 | |||||||||||||||
EARNINGS | |||||||||||||||||||||
Income from continuing operations before income taxes | $ | 308,459 | $ | 223,693 | $ | 297,382 | $ | 218,036 | $ | 528,183 | $ | 562,187 | $ | 477,694 | |||||||
Add: | |||||||||||||||||||||
Interest on indebtedness, exclusive of | 51,722 | 54,753 | 75,380 | 75,994 | 89,141 | 51,576 | 63,132 | ||||||||||||||
Amortization of deferred loan costs | 1,857 | 1,297 | 1,786 | 1,357 | 810 | 659 | 565 | ||||||||||||||
Portion of rents representative of | 16,143 | 15,382 | 21,524 | 20,509 | 18,663 | 13,457 | 14,093 | ||||||||||||||
Equity share of losses of companies | 2,942 | 2,895 | 6,078 | 1,571 | 1,359 | ||||||||||||||||
Amortization of previously capitalized interest | 219 | 219 | 291 | 297 | 274 | 254 | 313 | ||||||||||||||
Income as adjusted | $ | 378,400 | $ | 298,286 | $ | 399,258 | $ | 322,271 | $ | 638,642 | $ | 629,492 | $ | 555,797 | |||||||
FIXED CHARGES | |||||||||||||||||||||
Interest on indebtedness, exclusive of | $ | 51,722 | $ | 54,753 | $ | 75,380 | $ | 75,994 | $ | 89,141 | $ | 51,576 | $ | 63,132 | |||||||
Capitalized interest | 2 | ||||||||||||||||||||
Amortization of deferred loan costs | 1,857 | 1,297 | 1,786 | 1,357 | 810 | 659 | 565 | ||||||||||||||
Portion of rents representative of | 16,143 | 15,382 | 21,524 | 20,509 | 18,663 | 13,457 | 14,093 | ||||||||||||||
Fixed charges | $ | 69,722 | $ | 71,432 | $ | 98,690 | $ | 97,860 | $ | 108,614 | $ | 65,692 | $ | 77,792 | |||||||
RATIO OF EARNINGS TO FIXED CHARGES | 5.43x | 4.18x | 4.05x | 3.29x | 5.88x | 9.58x | 7.14x |