Parker-Hannifin (PH) 10-Q 2010 Q3 Quarterly report

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,
	2010			2009			2009			2008		2007		2006			2005
EARNINGS
Income from continuing operations before income taxes and noncontrolling interests	$	462,657		$	619,889		$	683,083		$	1,334,572	$	1,166,463	$	901,490		$	740,127
Adjustments:
Interest on indebtedness, exclusive of interest capitalized and interest on ESOP loan guarantee		74,821			85,026			109,911			96,572		80,053		71,100			62,482
Amortization of deferred loan costs		1,882			1,753			2,143			1,793		1,511		1,888			1,457
Portion of rents representative of interest factor		31,379			26,534			41,839			35,378		29,000		25,609			21,507
Loss (income) of equity investees		(236	)		(1,532	)		(1,529	)		2,596		1,059		(161	)		(1,935	)
Amortization of previously capitalized interest		196			196			262			278		282		304			280
Income as adjusted	$	570,699		$	731,866		$	835,709		$	1,471,189	$	1,278,368	$	1,000,230		$	823,918
FIXED CHARGES
Interest on indebtedness, exclusive of interest capitalized and interest on ESOP loan guarantee	$	74,821		$	85,026		$	109,911		$	96,572	$	80,053	$	71,100		$	62,482
Capitalized interest													436		178
Amortization of deferred loan costs		1,882			1,753			2,143			1,793		1,511		1,888			1,457
Portion of rents representative of interest factor		31,379			26,534			41,839			35,378		29,000		25,609			21,507
Fixed charges	$	108,082		$	113,313		$	153,893		$	133,743	$	111,000	$	98,775		$	85,446
RATIO OF EARNINGS TO FIXED CHARGES		5.28x			6.46x			5.43x			11.00x		11.52x		10.13x			9.64x