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Exhibit 12
EXHIBIT (12)* TO REPORT
ON FORM 10-K FOR FISCAL
YEAR ENDED JUNE 30, 1999
BY PARKER-HANNIFIN CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED
CHARGES
AS OF JUNE 30, 1999
EXHIBIT 12
PARKER-HANNIFIN CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS)
Fiscal Year Ended June 30,
1999 1998 1997 1996 1995
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EARNINGS
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Income from continuing operations before $477,694 $503,988 $424,867 $374,479 $348,407
income taxes
Add:
Interest on indebtedness, exclusive of 63,132 52,463 46,373 35,665 28,884
interest capitalized in accordance
with FASB #34 and interest on ESOP
loan guarantee
Amortization of deferred loan costs 565 324 286 146 128
Portion of rents representative of 14,093 12,355 11,102 9,966 8,791
interest factor
Equity share of losses of companies 583 1,327 513 392
for which debt obligations are not
guaranteed
Amortization of previously capitalized 313 296 220 219 216
interest
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Income as adjusted $555,797 $570,009 $484,175 $420,988 $386,818
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FIXED CHARGES
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Interest on indebtedness, exclusive of $ 63,132 $ 52,463 $ 46,373 $ 35,665 $ 28,884
interest capitalized in accordance
with FASB #34 and interest on ESOP
loan guarantee
Capitalized interest 2 1,372 272 538 283
Amortization of deferred loan costs 565 324 286 146 128
Portion of rents representative of 14,093 12,355 11,102 9,966 8,791
interest factor
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Fixed charges $ 77,792 $ 66,514 $ 58,033 $ 46,315 $ 38,086
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RATIO OF EARNINGS TO FIXED CHARGES 7.14x 8.57x 8.34x 9.09x 10.16x
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* NUMBERED IN ACCORDANCE WITH ITEM 601 OF REGULATION S-K.