Exhibit (12) to Report
on Form 10-K for Fiscal
Year Ended June 30, 2011
By Parker-Hannifin Corporation
Computation of Ratio of Earnings to Fixed Charges
(In thousands, except ratios)
Fiscal Year Ended June 30, | ||||||||||||||||||||
2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||
EARNINGS | ||||||||||||||||||||
Income from continuing operations before income taxes and noncontrolling interests | $ | 1,413,721 | $ | 754,817 | $ | 683,083 | $ | 1,334,571 | $ | 1,166,463 | ||||||||||
Adjustments: | ||||||||||||||||||||
Interest on indebtedness, exclusive of interest capitalized and interest on ESOP loan guarantee | 97,009 | 101,173 | 109,911 | 96,572 | 80,053 | |||||||||||||||
Amortization of deferred loan costs | 2,695 | 2,426 | 2,143 | 1,793 | 1,511 | |||||||||||||||
Portion of rents representative of interest factor | 39,499 | 41,194 | 41,839 | 35,378 | 29,000 | |||||||||||||||
Loss (income) of equity investees | 2,592 | 6,757 | (1,529 | ) | 2,596 | 1,059 | ||||||||||||||
Amortization of previously capitalized interest | 226 | 259 | 262 | 278 | 282 | |||||||||||||||
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Income as adjusted | $ | 1,555,742 | $ | 906,626 | $ | 835,709 | $ | 1,471,188 | $ | 1,278,368 | ||||||||||
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FIXED CHARGES | ||||||||||||||||||||
Interest on indebtedness, exclusive of interest capitalized and interest on ESOP loan guarantee | $ | 97,009 | $ | 101,173 | $ | 109,911 | $ | 96,572 | $ | 80,053 | ||||||||||
Capitalized interest | 436 | |||||||||||||||||||
Amortization of deferred loan costs | 2,695 | 2,426 | 2,143 | 1,793 | 1,511 | |||||||||||||||
Portion of rents representative of interest factor | 39,499 | 41,194 | 41,839 | 35,378 | 29,000 | |||||||||||||||
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Fixed charges | $ | 139,203 | $ | 144,793 | $ | 153,893 | $ | 133,743 | $ | 111,000 | ||||||||||
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RATIO OF EARNINGS TO FIXED CHARGES | 11.18x | 6.26x | 5.43x | 11.00x | 11.52x |