Parker-Hannifin (PH) 10-Q2009 Q3 Quarterly report

Filed: 5 May 09, 12:00am

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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,
	2009			2008			2008			2007			2006			2005			2004
EARNINGS
Income from continuing operations before income taxes	$	617,137		$	971,706		$	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		85,026			72,202			96,572			80,053			71,100			62,482			67,183
Amortization of deferred loan costs		1,753			1,244			1,793			1,511			1,888			1,457			2,293
Portion of rents representative of interest factor		26,534			21,750			35,378			29,000			25,609			21,507			21,213
Minority interests in consolidated subsidiaries		2,751			5,637			8,048			7,181			1,532			1,856			2,479
(Income) loss of equity investees		(1,532	)		3,084			2,596			1,059			(161	)		(1,935	)		(176	)
Amortization of previously capitalized interest		196			215			278			282			304			280			291

Income as adjusted	$	731,865		$	1,075,838		$	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	$	85,026		$	72,202		$	96,572		$	80,053		$	71,100		$	62,482		$	67,183
Capitalized interest											436			178
Amortization of deferred loan costs		1,753			1,244			1,793			1,511			1,888			1,457			2,293
Portion of rents representative of interest factor		26,534			21,750			35,378			29,000			25,609			21,507			21,213

Fixed charges	$	113,313		$	95,196		$	133,743		$	111,000		$	98,775		$	85,446		$	90,689

RATIO OF EARNINGS TO FIXED CHARGES		6.46	x		11.30	x		11.00	x		11.52	x		10.13	x		9.64	x		6.24	x

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