Parker-Hannifin (PH) 10-Q2011 Q1 Quarterly report

Filed: 8 Nov 10, 12:00am

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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,
	2010			2009			2010		2009			2008		2007		2006
EARNINGS
Income from continuing operations before income taxes and noncontrolling interests	$	336,364		$	114,029		$	754,817	$	683,083		$	1,334,571	$	1,166,463	$	901,490
Adjustments:
Interest on indebtedness, exclusive of interest capitalized and interest on ESOP loan guarantee		24,036			24,989			101,173		109,911			96,572		80,053		71,100
Amortization of deferred loan costs		597			734			2,426		2,143			1,793		1,511		1,888
Portion of rents representative of interest factor		10,299			10,460			41,194		41,839			35,378		29,000		25,609
(Income) loss of equity investees		(85	)		(73	)		6,757		(1,529	)		2,596		1,059		(161	)
Amortization of previously capitalized interest		64			65			259		262			278		282		304

Income as adjusted	$	371,275		$	150,204		$	906,626	$	835,709		$	1,471,188	$	1,278,368	$	1,000,230

FIXED CHARGES
Interest on indebtedness, exclusive of interest capitalized and interest on ESOP loan guarantee	$	24,036		$	24,989		$	101,173	$	109,911		$	96,572	$	80,053	$	71,100
Capitalized interest															436		178
Amortization of deferred loan costs		597			734			2,426		2,143			1,793		1,511		1,888
Portion of rents representative of interest factor		10,299			10,460			41,194		41,839			35,378		29,000		25,609

Fixed charges	$	34,932		$	36,183		$	144,793	$	153,893		$	133,743	$	111,000	$	98,775

RATIO OF EARNINGS TO FIXED CHARGES		10.63x			4.15x			6.26x		5.43x			11.00x		11.52x		10.13x

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