Parker-Hannifin (PH) 10-K 2006 FY Annual report

Exhibit 12

Exhibit (12) * to Report

on Form 10-K for Fiscal

Year Ended June 30, 2006

by Parker-Hannifin Corporation

Computation of Ratio of Earnings to Fixed Charges

as of June 30, 2006

	Fiscal Year Ended June 30,
	2006		2005		2004		2003		2002
EARNINGS
Income from continuing operations before income taxes	$	899,958	$	738,271	$	472,956	$	286,608	$	218,036
Add:
Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee		71,278		62,482		67,183		75,068		75,994
Amortization of deferred loan costs		1,888		1,457		2,293		1,786		1,357
Portion of rents representative of interest factor		25,609		21,507		21,213		20,585		20,509
Equity share of losses of companies for which debt obligations are not guaranteed		897						2,895		6,078
Amortization of previously capitalized interest		304		280		291		291		297
Income as adjusted	$	999,934	$	823,997	$	563,936	$	387,233	$	322,271
FIXED CHARGES
Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee	$	71,278	$	62,482	$	67,183	$	75,068	$	75,994
Amortization of deferred loan costs		1,888		1,457		2,293		1,786		1,357
Portion of rents representative of interest factor		25,609		21,507		21,213		20,585		20,509
Fixed charges	$	98,775	$	85,446	$	90,689	$	97,439	$	97,860
RATIO OF EARNINGS TO FIXED CHARGES		10.12x		9.64x		6.22x		3.97x		3.29x

Note: Certain amounts presented, as applicable, have been restated to reflect a business divested in August 2005 as discontinued operations.