Parker-Hannifin (PH) 10-Q2009 Q1 Quarterly report

Filed: 6 Nov 08, 12:00am

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Removed: accounted, ample, authorization, borrowing, cap, charge, contract, Director, disclose, effected, Europe, February, FIN, floor, funding, implementation, Interpretation, Leverage, Morgan, par, permitted, positively, presented, previously, qualified, reclassifying, recognize, relocate, Retained, retroactively, return, slight, Stanley, twelve, Uncertainty, voluntary, weakening

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Exhibit 12

PARKER-HANNIFIN CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands)


	Three months Ended September 30,						Fiscal Year Ended June 30,
	2008			2007			2008		2007		2006			2005			2004
EARNINGS
Income from continuing operations before income taxes	$	356,729		$	317,742		$	1,326,524	$	1,159,282	$	899,958		$	738,271		$	472,956
Adjustments:
Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee		27,496			21,809			96,572		80,053		71,100			62,482			67,183
Amortization of deferred loan costs		583			395			1,793		1,511		1,888			1,457			2,293
Portion of rents representative of interest factor		8,845			7,250			35,378		29,000		25,609			21,507			21,213
Minority interests in consolidated subsidiaries		1,658			1,392			8,048		7,181		1,532			1,856			2,479
Loss (income) of equity investees		(182	)		(71	)		2,596		1,059		(161	)		(1,935	)		(176	)
Amortization of previously capitalized interest		65			72			278		282		304			280			291

Income as adjusted	$	395,194		$	348,589		$	1,471,189	$	1,278,368	$	1,000,230		$	823,918		$	566,239

FIXED CHARGES
Interest on indebtedness, exclusive of interest capitalized in accordance with FASB #34 and interest on ESOP loan guarantee	$	27,496		$	21,809		$	96,572	$	80,053	$	71,100		$	62,482		$	67,183
Capitalized interest										436		178
Amortization of deferred loan costs		583			395			1,793		1,511		1,888			1,457			2,293
Portion of rents representative of interest factor		8,845			7,250			35,378		29,000		25,609			21,507			21,213

Fixed charges	$	36,924		$	29,454		$	133,743	$	111,000	$	98,775		$	85,446		$	90,689

RATIO OF EARNINGS TO FIXED CHARGES		10.70x			11.84x			11.00x		11.52x		10.13x			9.64x			6.24x

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