8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): August 5, 2021

PARKER-HANNIFIN CORPORATION

(Exact Name of Registrant as Specified in Charter)

Ohio	1-4982	34-0451060
(State or other jurisdiction of Incorporation or Organization)	(Commission File Number)	(I.R.S. Employer Identification No.)
6035 Parkland Boulevard, Cleveland, Ohio		44124-4141
(Address of Principal Executive Offices)		(Zip Code)

Registrant's telephone number, including area code: (216) 896-3000

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR

240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR

240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol	Name of Each Exchange on which Registered
Common Shares, $.50 par value	PH	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On August 5, 2021, Parker-Hannifin Corporation issued a press release and presented a Webcast announcing results of operations for the quarter ended June 30, 2021. A copy of the press release is furnished as Exhibit 99.1 to this report. A copy of the Webcast presentation is furnished as Exhibit 99.2 to this report.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits:

99.1 Press release issued by Parker-Hannifin Corporation, dated August 5, 2021.

99.2 Webcast presentation by Parker-Hannifin Corporation, dated August 5, 2021.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

		PARKER-HANNIFIN CORPORATION
		By: /s/ Todd M. Leombruno
		Todd M. Leombruno
		Executive Vice President and Chief Financial Officer
Date:	August 5, 2021

EX-99.1

For Release:	Immediately	Exhibit 99.1
Contact:	Media -
	Aidan Gormley - Director, Global Communications and Branding	216-896-3258
	aidan.gormley@parker.com
	Financial Analysts -
	Robin J. Davenport, Vice President, Corporate Finance	216-896-2265
	rjdavenport@parker.com
Stock Symbol:	PH - NYSE

Parker Reports Fiscal 2021 Fourth Quarter and Full Year Results and Issues Guidance for Fiscal 2022

- All-time records for sales, net income, EPS, operating cash flow and segment operating margins

- Fourth quarter sales increased 25% to $3.96 billion, organic sales increased 22%

- Fourth quarter segment operating margin was 20.0% as reported, or 22.2% adjusted

- Fourth quarter EPS increased 72% to $3.84 as reported, or $4.38 adjusted

- Full year net income was $1.75 billion; EPS were $13.35 as reported, or $15.04 adjusted

- Full year total segment operating margin was 18.4% as reported, or 21.1% adjusted

- Full year EBITDA margin was 21.6% as reported, or 21.3% adjusted

- Full year cash flow from operations was $2.58 billion, or 17.9% of sales

- Announced offer to acquire Meggitt to nearly double the size of the Aerospace Systems Segment

CLEVELAND, August 5, 2021 -- Parker Hannifin Corporation (NYSE: PH), the global leader in motion and control technologies, today reported results for the fiscal 2021 fourth quarter and full year ended June 30, 2021. Fiscal 2021 fourth quarter sales were an all-time quarterly record at $3.96 billion, an increase of 25% compared with $3.16 billion in the fourth quarter of fiscal 2020. Net income was also a record at $504.8 million, an increase of 74% compared with $289.5 million in the prior year quarter. Fiscal 2021 fourth quarter earnings per share were also an all-time quarterly record at $3.84, an increase of 72% compared with $2.23 in the fourth quarter of fiscal 2020. Adjusted earnings per share increased 46% to $4.38 compared with adjusted earnings per share of $2.99 in the prior year quarter. A reconciliation of non-GAAP measures is included in the financial tables of this press release.

“We had an outstanding fourth quarter that capped off a record year for Parker,” said Chairman and Chief Executive Officer, Tom Williams. "Despite extraordinary challenges, we generated record financial performance in fiscal 2021, setting all-time highs for sales, net income, earnings per share, segment operating margins and cash flow from operations. Notably, our full year adjusted segment operating margins reached 21.1%, a 220 basis point improvement versus the prior year. Our continued execution of The Win Strategy™ is taking our performance to new heights. My thanks to all Parker team members for their contributions to a great year.”

For the full year, fiscal 2021 sales were a record at $14.35 billion, an increase of 5% compared with $13.70 billion in fiscal 2020. Net income was a record at $1.75 billion, a 45% increase compared with $1.20 billion in the prior year period. Fiscal 2021 earnings per share increased 44% to a record $13.35 compared with $9.26 in fiscal 2020. Adjusted earnings per share increased 21% to $15.04 compared with $12.44 in fiscal 2020. Fiscal 2021 cash flow from operations was an all-time record at $2.58 billion, or 17.9% of sales, compared with $2.07 billion, or 15.1% of sales in the prior year period.

In the fiscal 2021 fourth quarter, the company made debt repayments of $184 million, bringing the cumulative debt reduction to approximately $3.4 billion over the last 20 months. The company has now retired all serviceable debt bringing the multiple of gross debt to EBITDA down to 2.1 times.

Segment Results

Diversified Industrial Segment: North American fourth quarter sales increased 27% to $1.82 billion and operating income was $360.4 million compared with $219.8 million in the same period a year ago. International fourth quarter sales increased 37% to $1.51 billion and operating income was $306.5 million compared with $175.4 million in the same period a year ago.

Aerospace Systems Segment: Fourth quarter sales increased 1% to $630.0 million and operating income was $123.1 million compared with $105.4 million in the same period a year ago.

Parker reported the following orders for the quarter ending June 30, 2021, compared with the same quarter a year ago:

· Orders increased 43% for total Parker

· Orders increased 56% in the Diversified Industrial North America businesses

· Orders increased 58% in the Diversified Industrial International businesses

· Orders decreased 7% in the Aerospace Systems Segment on a rolling 12-month average basis

Offer to Acquire Meggitt PLC

As previously announced on August 2, 2021, the company has reached an agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Meggitt PLC, an international group and a world leader in aerospace, defense and energy. The acquisition is expected to close in approximately 12 months, subject to customary closing conditions, including regulatory clearances and approval by Meggitt’s shareholders.

“The combination of Parker and Meggitt is an exciting opportunity for both companies’ team members, customers, shareholders and communities,” said Tom Williams, Chairman and Chief Executive Officer.

“We strongly believe Parker is the right home for Meggitt. Together, we can better serve our customers through innovation, accelerated R&D and a complementary portfolio of aerospace and defense technologies.

“We are committed to being a responsible steward of Meggitt and are pleased our acquisition has the full support of Meggitt’s Board. We fully understand these responsibilities and are making a number of strong commitments that reflect them. During our longstanding presence in the UK we have built great respect for Meggitt, its heritage, and its place in British industry. Our own journey over more than 100 years has taught us the importance of a strong culture and reputation.”

Outlook

For the fiscal year ending June 30, 2022, the company has issued guidance for earnings per share to the range of $14.08 to $14.88, or $16.20 to $17.00 on an adjusted basis. Guidance assumes organic sales growth of approximately 5% to 9% compared with the prior year. Fiscal year 2022 guidance is adjusted on a pre-tax basis for expected business realignment expenses of approximately $35 million, LORD costs to achieve of approximately $7 million and acquisition-related intangible asset amortization of approximately $320 million. A reconciliation of forecasted earnings per share to adjusted forecasted earnings per share is included in the financial tables of this press release.

Williams added, “We are encouraged by the positive demand trends across many of our end markets and anticipate a continued recovery in commercial aerospace during fiscal 2022. We expect this improving macro-economic outlook to enhance the impact of our continued actions to drive profitable growth by executing the Win Strategy and delivering top quartile financial performance."

NOTICE OF CONFERENCE CALL:Parker Hannifin's conference call and slide presentation to discuss its fiscal 2021 fourth quarter and full year results are available to all interested parties via live webcast today at 11:00 a.m. ET, at www.phstock.com. A replay of the webcast will be available on the site approximately one hour after the completion of the call and will remain available for one year. To register for e-mail notification of future events please visit www.phstock.com.

About Parker Hannifin

Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 65 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index. Learn more at www.parker.com or @parkerhannifin.

Note on Orders

Orders provide near-term perspective on the company's outlook, particularly when viewed in the context of prior and future quarterly order rates. However, orders are not in themselves an indication of future performance. All comparisons are at constant currency exchange rates, with the prior year restated to the current-year rates. All exclude acquisitions until they can be reflected in both the numerator and denominator. Aerospace comparisons are rolling 12-month average computations. The total Parker orders number is derived from a weighted average of the year-over-year quarterly % change in orders for Diversified Industrial North America and Diversified Industrial International, and the year-over-year 12-month rolling average of orders for the Aerospace Systems Segment.

Note on Inventories

During the fourth quarter of fiscal 2021, the company voluntarily changed its method of accounting for certain domestic inventory previously valued by the last-in, first-out (LIFO) method to the first-in, first-out (FIFO) method. This accounting change has been retrospectively applied to all periods presented in the financial tables of this press release.

Note on Net Income

Net income referenced in this press release is equal to net income attributable to common shareholders.

Note on Non-GAAP Financial Measures

This press release contains references to non-GAAP financial information including (a) adjusted earnings per share; (b) adjusted total segment operating margin; (c) EBITDA margin; and (d) adjusted EBITDA margin. The adjusted earnings per share and total segment operating margin measures are presented to allow investors and the company to meaningfully evaluate changes in earnings per share and total segment operating margin on a comparable basis from period to period. This press release also contains references to EBITDA, EBITDA margin and adjusted EBITDA margin. EBITDA is defined as earnings before interest, taxes, depreciation and amortization. Although EBITDA, EBITDA margin and adjusted EBITDA margin are not measures of performance calculated in accordance with GAAP, we believe that they are useful to an investor in evaluating the results of this quarter versus the prior period. A reconciliation of non-GAAP measures is included in the financial tables of this press release.

Forward-Looking Statements

Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. Often but not always, these statements may be identified from the use of forward-looking terminology such as “anticipates,” “believes,” “may,” “should,” “could,” “potential,” “continues,” “plans,” “forecasts,” “estimates,” “projects,” “predicts,” “would,” “intends,” “expects,” “targets,” “is likely,” “will,” or the negative of these terms and similar expressions, and include all statements regarding future performance, earnings projections, events or developments. Neither Parker nor any of its respective associates or directors, officers or advisers, provides any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this press release will actually occur. Parker cautions readers not to place undue reliance on these statements. It is possible that the future performance and earnings projections of the company, including its individual segments, may differ materially from past performance or current expectations, depending on economic conditions within its mobile, industrial and aerospace markets, and the company's ability to maintain and achieve anticipated benefits associated with announced realignment activities, strategic initiatives to improve operating margins, actions taken to combat the effects of the current economic environment, and growth, innovation and global

diversification initiatives. Additionally, the actual impact of changes in tax laws in the United States and foreign jurisdictions and any judicial or regulatory interpretation thereof on future performance and earnings projections may impact the company’s tax calculations. A change in the economic conditions in individual markets may have a particularly volatile effect on segment performance.

The risks and uncertainties in connection with such forward-looking statements related to the proposed acquisition of Meggitt include, but are not limited to, the occurrence of any event, change or other circumstances that could delay the closing of the proposed acquisition; the possibility of non-consummation of the proposed Acquisition; the failure to satisfy any of the conditions to the proposed acquisition (including the satisfaction of the conditions detailed in the Rule 2.7 announcement); the possibility that a governmental entity may prohibit the consummation of the proposed acquisition or may delay or refuse to grant a necessary regulatory approval in connection with the proposed acquisition, or that in order for the parties to obtain any such regulatory approvals, conditions are imposed that adversely affect the anticipated benefits from the proposed acquisition or cause the parties to abandon the proposed acquisition; adverse effects on Parker’s common stock because of the failure to complete the proposed acquisition; Parker’s business experiencing disruptions due to acquisition-related uncertainty or other factors making it more difficult to maintain relationships with employees, business partners or governmental entities; the possibility that the expected synergies and value creation from the proposed acquisition will not be realized or will not be realized within the expected time period; the parties being unable to successfully implement integration strategies; and significant transaction costs related to the proposed acquisition. Readers should consider these forward-looking statements in light of risk factors discussed in Parker’s Annual Report on Form 10-K for the fiscal year ended June 30, 2020 and other periodic filings made with the SEC.

Among other factors which may affect future performance are: the impact of the global outbreak of COVID-19 and governmental and other actions taken in response; changes in business relationships with and purchases by or from major customers, suppliers or distributors, including delays or cancellations in shipments; disputes regarding contract terms or significant changes in financial condition, changes in contract cost and revenue estimates for new development programs and changes in product mix; ability to identify acceptable strategic acquisition targets; uncertainties surrounding timing, successful completion or integration of acquisitions and similar transactions, including the integration of LORD Corporation or Exotic Metals; the ability to successfully divest businesses planned for divestiture and realize the anticipated benefits of such divestitures; the determination to undertake business realignment activities and the expected costs thereof and, if undertaken, the ability to complete such activities and realize the anticipated cost savings from such activities; ability to implement successfully capital allocation initiatives, including timing, price and execution of share repurchases; availability, limitations or cost increases of raw materials, component products and/or commodities that cannot be recovered in product pricing; ability to manage costs related to insurance and employee retirement and health care benefits; legal and regulatory developments and changes; compliance costs associated with environmental laws and regulations; potential labor disruptions; threats associated with and efforts to combat terrorism and cyber-security risks; uncertainties surrounding the ultimate resolution of outstanding legal proceedings, including the outcome of any appeals; global competitive market conditions, including global reactions to U.S. trade policies, and resulting effects on sales and pricing; and global economic factors, including manufacturing activity, air travel trends, currency exchange rates, difficulties entering new markets and general economic conditions such as inflation, deflation, interest rates and credit availability; local and global political and economic conditions; inability to obtain, or meet conditions imposed for, required governmental and regulatory approvals; changes in consumer habits and preferences; foreign exchange rate fluctuations and interest rate fluctuations (including those from any potential credit rating decline); government actions and natural phenomena such as floods, earthquakes, hurricanes and pandemics; and success of business and operating initiatives.

###

PARKER HANNIFIN CORPORATION - JUNE 30, 2021							Exhibit 99.1
CONSOLIDATED STATEMENT OF INCOME
(Unaudited)	Three Months Ended June 30,				Twelve Months Ended June 30,
(Dollars in thousands, except per share amounts)	2021		2020*		2021		2020*
Net sales	$	3,958,869	$	3,160,603	$	14,347,640	$	13,695,520
Cost of sales	2,832,281		2,365,531		10,449,680		10,292,291
Selling, general and administrative expenses	414,048		352,793		1,527,302		1,656,553
Interest expense	60,258		74,549		250,036		308,161
Other (income) expense, net	(4,269)		5,374		(126,335)		(68,339)
Income before income taxes	656,551		362,356		2,246,957		1,506,854
Income taxes	151,582		72,879		500,096		304,522
Net income	504,969		289,477		1,746,861		1,202,332
Less: Noncontrolling interests	176		(21)		761		362
Net income attributable to common shareholders	$	504,793	$	289,498	$	1,746,100	$	1,201,970
Earnings per share attributable to common shareholders:
Basic earnings per share	$	3.91	$	2.25	$	13.54	$	9.36
Diluted earnings per share	$	3.84	$	2.23	$	13.35	$	9.26
Average shares outstanding during period - Basic	129,192,426		128,523,334		128,999,879		128,418,495
Average shares outstanding during period - Diluted	131,554,199		129,993,001		130,834,478		129,805,034
CASH DIVIDENDS PER COMMON SHARE
(Unaudited)	Three Months Ended June 30,				Twelve Months Ended June 30,
(Amounts in dollars)	2021		2020		2021		2020
Cash dividends per common share	$	1.03	$	0.88	$	3.67	$	3.52
RECONCILIATION OF EARNINGS PER DILUTED SHARE TO ADJUSTED EARNINGS PER DILUTED SHARE
(Unaudited)	Three Months Ended June 30,				Twelve Months Ended June 30,
(Amounts in dollars)	2021		2020*		2021		2020*
Earnings per diluted share	$	3.84	$	2.23	$	13.35	$	9.26
Adjustments:
Acquired intangible asset amortization expense	0.62		0.62		2.49		2.19
Business realignment charges	0.06		0.37		0.36		0.59
Lord costs to achieve	0.01		0.02		0.08		0.16
Exotic costs to achieve	—		—		—		0.01
Acquisition-related expenses	0.03		0.03		0.03		1.45
Gain on sale of land	—		—		(0.77)		—
Tax effect of adjustments1	(0.18)		(0.23)		(0.50)		(1.03)
Favorable tax settlement	—		(0.05)		—		(0.19)
Adjusted earnings per diluted share	$	4.38	$	2.99	$	15.04	$	12.44
*Prior periods have been adjusted to reflect the change in inventory accounting method, as described in the attached press release.
1This line item reflects the aggregate tax effect of all non-tax adjustments reflected in the preceding line items of the table. We estimate the tax effect of each adjustment item by applying our overall effective tax rate for continuing operations to the pre-tax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment.

PARKER HANNIFIN CORPORATION - JUNE 30, 2021										Exhibit 99.1
RECONCILIATION OF EBITDA TO ADJUSTED EBITDA
(Unaudited)	Three Months Ended June 30,						Twelve Months Ended June 30,
(Dollars in thousands)	2021			2020*			2021			2020*
Net sales	$	3,958,869		$	3,160,603		$	14,347,640		$	13,695,520
Net income	$	504,969		$	289,477		$	1,746,861		$	1,202,332
Income taxes	151,582			72,879			500,096			304,522
Depreciation and amortization	146,582			146,582			595,390			537,531
Interest expense	60,258			74,549			250,036			308,161
EBITDA	863,391			583,487			3,092,383			2,352,546
Adjustments:
Business realignment charges	7,792			47,601			47,862			75,614
Lord costs to achieve	1,727			2,166			11,222			20,669
Exotic costs to achieve	20			338			719			1,908
Acquisition-related expenses	3,549			4,437			3,549			188,518
Gain on sale of land	—			—			(100,893)			—
Adjusted EBITDA	$	876,479		$	638,029		$	3,054,842		$	2,639,255
EBITDA margin	21.8		%	18.5		%	21.6		%	17.2		%
Adjusted EBITDA margin	22.1		%	20.2		%	21.3		%	19.3		%
*Prior periods have been adjusted to reflect the change in inventory accounting method, as described in the attached press release.

PARKER HANNIFIN CORPORATION - JUNE 30, 2021							Exhibit 99.1
BUSINESS SEGMENT INFORMATION
(Unaudited)	Three Months Ended June 30,				Twelve Months Ended June 30,
(Dollars in thousands)	2021		2020*		2021		2020*
Net sales
Diversified Industrial:
North America	$	1,823,078	$	1,440,263	$	6,676,449	$	6,456,298
International	1,505,835		1,096,380		5,283,710		4,504,587
Aerospace Systems	629,956		623,960		2,387,481		2,734,635
Total net sales	$	3,958,869	$	3,160,603	$	14,347,640	$	13,695,520
Segment operating income
Diversified Industrial:
North America	$	360,378	$	219,785	$	1,247,419	$	985,944
International	306,513		175,420		988,054		674,763
Aerospace Systems	123,097		105,441		402,895		476,900
Total segment operating income	789,988		500,646		2,638,368		2,137,607
Corporate general and administrative expenses	54,883		37,999		178,427		170,903
Income before interest expense and other expense	735,105		462,647		2,459,941		1,966,704
Interest expense	60,258		74,549		250,036		308,161
Other expense (income)	18,296		25,742		(37,052)		151,689
Income before income taxes	$	656,551	$	362,356	$	2,246,957	$	1,506,854
*Prior periods have been adjusted to reflect the change in inventory accounting method, as described in the attached press release.

PARKER HANNIFIN CORPORATION - JUNE 30, 2021							Exhibit 99.1
RECONCILIATION OF TOTAL SEGMENT OPERATING MARGIN TO ADJUSTED TOTAL SEGMENT OPERATING MARGIN
(Unaudited)	Three Months Ended				Three Months Ended
(Dollars in thousands)	June 30, 2021				June 30, 2020
	Operating income		Operating margin		Operating income		Operating margin
Total segment operating income	$	789,988	20.0	%	$	500,646	15.8	%
Adjustments:
Acquired intangible asset amortization expense	81,254				80,737
Business realignment charges	7,347				46,619
Lord costs to achieve	1,727				2,166
Exotic costs to achieve	20				338
Adjusted total segment operating income	$	880,336	22.2	%	$	630,506	19.9	%
	Twelve Months Ended				Twelve Months Ended
	June 30, 2021				June 30, 2020
	Operating income		Operating margin		Operating income		Operating margin
Total segment operating income	$	2,638,368	18.4	%	$	2,137,607	15.6	%
Adjustments:
Acquired intangible asset amortization expense	325,447				284,632
Business realignment charges	45,237				74,389
Lord costs to achieve	11,222				20,669
Exotic costs to achieve	719				1,908
Acquisition-related expenses	—				69,304
Adjusted total segment operating income	$	3,020,993	21.1	%	$	2,588,509	18.9	%

PARKER HANNIFIN CORPORATION - JUNE 30, 2021			Exhibit 99.1
CONSOLIDATED BALANCE SHEET
(Unaudited)	June 30,		June 30,
(Dollars in thousands)	2021		2020*
Assets
Current assets:
Cash and cash equivalents	$	733,117	$	685,514
Marketable securities and other investments	39,116		70,805
Trade accounts receivable, net	2,183,594		1,854,398
Non-trade and notes receivable	326,315		244,870
Inventories	2,090,642		1,964,195
Prepaid expenses and other	243,966		214,986
Total current assets	5,616,750		5,034,768
Property, plant and equipment, net	2,266,476		2,292,735
Deferred income taxes	104,251		126,839
Investments and other assets	774,239		764,563
Intangible assets, net	3,519,797		3,798,913
Goodwill	8,059,687		7,869,935
Total assets	$	20,341,200	$	19,887,753
Liabilities and equity
Current liabilities:
Notes payable and long-term debt payable within one year	$	2,824	$	809,529
Accounts payable, trade	1,667,878		1,111,759
Accrued payrolls and other compensation	507,027		424,231
Accrued domestic and foreign taxes	236,384		195,314
Other accrued liabilities	682,390		607,540
Total current liabilities	3,096,503		3,148,373
Long-term debt	6,582,053		7,652,256
Pensions and other postretirement benefits	1,055,638		1,887,414
Deferred income taxes	553,981		418,851
Other liabilities	639,355		539,089
Shareholders' equity	8,398,307		6,227,224
Noncontrolling interests	15,363		14,546
Total liabilities and equity	$	20,341,200	$	19,887,753
*Prior periods have been adjusted to reflect the change in inventory accounting method, as described in the attached press release.

PARKER HANNIFIN CORPORATION - JUNE 30, 2021			Exhibit 99.1
CONSOLIDATED STATEMENT OF CASH FLOWS
(Unaudited)	Twelve Months Ended June 30,
(Dollars in thousands)	2021		2020*
Cash flows from operating activities:
Net income	$	1,746,861	$	1,202,332
Depreciation and amortization	595,390		537,531
Share incentive plan compensation	121,483		111,375
Gain on property, plant and equipment	(109,332)		(1,850)
Gain on marketable securities	(11,570)		(587)
Gain on investments	(12,616)		(2,084)
Net change in receivables, inventories and trade payables	142,673		415,025
Net change in other assets and liabilities	150,136		(211,049)
Other, net	(48,024)		20,256
Net cash provided by operating activities	2,575,001		2,070,949
Cash flows from investing activities:
Acquisitions (net of cash of $82,192 in 2020)	—		(5,076,064)
Capital expenditures	(209,957)		(232,591)
Proceeds from sale of property, plant and equipment	140,590		26,345
Purchases of marketable securities and other investments	(34,809)		(194,742)
Maturities and sales of marketable securities and other investments	79,419		275,483
Other	24,744		177,576
Net cash used in investing activities	(13)		(5,023,993)
Cash flows from financing activities:
Net payments for common stock activity	(214,134)		(213,426)
Acquisition of noncontrolling interests	—		(1,200)
Net (payments for) proceeds from debt	(1,934,031)		1,117,774
Dividends paid	(475,174)		(453,838)
Net cash (used in) provided by financing activities	(2,623,339)		449,310
Effect of exchange rate changes on cash	95,954		(30,519)
Net increase (decrease) in cash and cash equivalents	47,603		(2,534,253)
Cash and cash equivalents at beginning of year	685,514		3,219,767
Cash and cash equivalents at end of period	$	733,117	$	685,514
*Prior periods have been adjusted to reflect the change in inventory accounting method, as described in the attached press release.

PARKER HANNIFIN CORPORATION - JUNE 30, 2021	Exhibit 99.1
RECONCILIATION OF FORECASTED EARNINGS PER DILUTED SHARE TO ADJUSTED FORECASTED EARNINGS PER DILUTED SHARE
(Unaudited)
(Amounts in dollars)	Fiscal Year 2022
Forecasted earnings per diluted share	$14.08 to $14.88
Adjustments:
Business realignment charges	0.27
Costs to achieve	0.05
Acquisition-related intangible asset amortization expense	2.43
Tax effect of adjustments1	(0.63)
Adjusted forecasted earnings per diluted share	$16.20 to $17.00
1This line item reflects the aggregate tax effect of all non-tax adjustments reflected in the preceding line items of the table. We estimate the tax effect of each adjustment item by applying our overall effective tax rate for continuing operations to the pre-tax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment.

PARKER HANNIFIN CORPORATION - JUNE 30, 2021							Exhibit 99.1
LIFO ACCOUNTING CHANGE
(Unaudited)
During the fourth quarter of fiscal 2021, the company voluntarily changed its method of accounting for certain domestic inventory previously valued by the LIFO method to the FIFO method. The effects of the change in accounting principle from LIFO to FIFO have been retrospectively applied to all periods presented in the table below. The impact of this accounting change for fiscal 2021 caused a $0.11 increase in earnings per share.
Recast Results
	Three Months Ended
Dollars in thousands, except per share amounts	September 30, 2020		December 31, 2020		March 31, 2021		June 30, 2021
Consolidated Statements of Income
Cost of sales	$	2,386,449	$	2,518,165	$	2,712,785	$	2,832,281
Income before income taxes	413,174		577,892		599,340		656,551
Income tax expense	93,063		129,350		126,101		151,582
Net income	320,111		448,542		473,239		504,969
Net income attributable to common shareholders	319,803		448,351		473,153		504,793
Earnings per share attributable to common shareholders:
Basic	$	2.48	$	3.48	$	3.67	$	3.91
Diluted	$	2.45	$	3.42	$	3.60	$	3.84
	Three Months Ended
Dollars in thousands, except per share amounts	September 30, 2019		December 31, 2019		March 31, 2020		June 30, 2020
Consolidated Statements of Income
Cost of sales	$	2,480,992	$	2,686,131	$	2,759,637	$	2,365,531
Income before income taxes	431,905		251,380		461,213		362,356
Income tax expense	93,811		49,331		88,501		72,879
Net income	338,094		202,049		372,712		289,477
Net income attributable to common shareholders	337,951		201,925		372,596		289,498
Earnings per share attributable to common shareholders:
Basic	$	2.63	$	1.57	$	2.90	$	2.25
Diluted	$	2.60	$	1.55	$	2.87	$	2.23

EX-99.2

Parker Hannifin Corporation Fiscal 2021 Fourth Quarter & Full Year Earnings Presentation August 5, 2021 Exhibit 99.2

Forward-Looking Statements and Non-GAAP Financial Measures 2 Forward-looking statements contained in this and other written and oral reports are made based on known events and circumstances at the time of release, and as such, are subject in the future to unforeseen uncertainties and risks. These statements may be identified from the use of forward-looking terminology such as “anticipates,” “believes,” “may,” “should,” “could,” “potential,” “continues,” “plans,” “forecasts,” “estimates,” “projects,” “predicts,” “would,” “intends,” “expects,” “targets,” “is likely,” “will,” or the negative of these terms and similar expressions, and include all statements regarding future performance, earnings projections, events or developments. Parker cautions readers not to place undue reliance on these statements. It is possible that the future performance and earnings projections of the company, including its individual segments, may differ materially from current expectations, depending on economic conditions within its mobile, industrial and aerospace markets, and the company's ability to maintain and achieve anticipated benefits associated with announced realignment activities, strategic initiatives to improve operating margins, actions taken to combat the effects of the current economic environment, and growth, innovation and global diversification initiatives. Additionally, the actual impact of changes in tax laws in the United States and foreign jurisdictions and any judicial or regulatory interpretation thereof on future performance and earnings projections may impact the company’s tax calculations. A change in the economic conditions in individual markets may have a particularly volatile effect on segment performance. The risks and uncertainties in connection with such forward-looking statements related to the proposed acquisition of Meggitt include, but are not limited to, the occurrence of any event, change or other circumstances that could delay the closing of the acquisition; the possibility of nonconsummation of the acquisition; the failure to satisfy any of the conditions to the acquisition (including the satisfaction of the conditions detailed in the Rule 2.7 announcement); the possibility that a governmental entity may prohibit the consummation of the acquisition or may delay or refuse to grant a necessary regulatory approval in connection with the acquisition, or that in order for the parties to obtain any such regulatory approvals, conditions are imposed that adversely affect the anticipated benefits from the acquisition or cause the parties to abandon the acquisition; adverse effects on Parker’s common stock because of the failure to complete the acquisition; Parker’s business experiencing disruptions due to acquisition-related uncertainty or other factors making it more difficult to maintain relationships with employees, business partners or governmental entities; the possibility that the expected synergies and value creation from the acquisition will not be realized or will not be realized within the expected time period; the parties being unable to successfully implement integration strategies; and significant transaction costs related to the acquisition. Readers should consider these forward-looking statements in light of risk factors discussed in Parker’s Annual Report on Form 10-K for the fiscal year ended June 30, 2020 and other periodic filings made with the Securities and Exchange Commission. Among other factors which may affect future performance are: the impact of the global outbreak of COVID-19 and governmental and other actions taken in response; changes in business relationships with and purchases by or from major customers, suppliers or distributors, including delays or cancellations in shipments; disputes regarding contract terms or significant changes in financial condition, changes in contract cost and revenue estimates for new development programs and changes in product mix; ability to identify acceptable strategic acquisition targets; uncertainties surrounding timing, successful completion or integration of acquisitions and similar transactions, including the integration of LORD Corporation or Exotic Metals; the ability to successfully divest businesses planned for divestiture and realize the anticipated benefits of such divestitures; the determination to undertake business realignment activities and the expected costs thereof and, if undertaken, the ability to complete such activities and realize the anticipated cost savings from such activities; ability to implement successfully capital allocation initiatives, including timing, price and execution of share repurchases; availability, limitations or cost increases of raw materials, component products and/or commodities that cannot be recovered in product pricing; ability to manage costs related to insurance and employee retirement and health care benefits; compliance costs associated with environmental laws and regulations; potential labor disruptions; threats associated with and efforts to combat terrorism and cyber-security risks; uncertainties surrounding the ultimate resolution of outstanding legal proceedings, including the outcome of any appeals; global competitive market conditions, including global reactions to U.S. trade policies, and resulting effects on sales and pricing; and global economic factors, including manufacturing activity, air travel trends, currency exchange rates, difficulties entering new markets and general economic conditions such as inflation, deflation, interest rates and credit availability. The company makes these statements as of the date of this disclosure and undertakes no obligation to update them unless otherwise required by law. This presentation contains references to non-GAAP financial information for Parker, including organic sales for Parker and by segment, adjusted net income, adjusted earnings per share, adjusted operating margin for Parker and by segment, EBITDA, adjusted EBITDA, EBITDA margin, adjusted EBITDA margin and free cash flow. EBITDA is defined as earnings before interest, taxes, depreciation and amortization. For Parker, adjusted EBITDA is defined as EBITDA before business realignment, Integration costs to achieve, acquisition related expenses and gain on the sale of land. Free cash flow is defined as cash flow from operations less capital expenditures. Although organic sales, adjusted earnings per share, adjusted operating margin for Parker and by segment, EBITDA, adjusted EBITDA, EBITDA margin and free cash flow are not measures of performance calculated in accordance with GAAP, we believe that they are useful to an investor in evaluating the company performance for the period presented. Detailed reconciliations of these non-GAAP financial measures to the comparable GAAP financial measures have been included in the appendix to this presentation. Please visit www.PHstock.com for more information

Outstanding Performance in FY21 Q4 3 ▪ Top quartile safety performance; 29% reduction in recordable incidents ▪ Sales growth of 25.3% YoY; Organic growth 21.8% YoY ▪ Six all-time quarterly records: • Sales, Net income, EPS, Segment Margins for Parker, Industrial North America & International ▪ EBITDA margin was 21.8% as reported or 22.1% adjusted1, +190 bps vs. prior Parker FY21 Q4 FY20 Q4 Change Segment Operating Margin, As Reported 20.0% 15.8% Segment Operating Margin, Adjusted1 22.2% 19.9% 230+ bps 1. Adjusted numbers include certain non-GAAP financial measures. See Appendix for additional details and reconciliations.

A Year of Record Performance - FY21 Highlights 4  Eight all-time fiscal year records: • Sales, Net income, EPS, ROS, Cash flow from operations • Segment Margins for Parker, Industrial North America & International ▪ Sales growth of 4.8% YoY; Organic sales flat YoY ▪ Achieved FY23 margin targets 2 years early • New targets to be announced at the March 2022 Investor Meeting ▪ Operating cash flow of $2.6B or 17.9% of sales, FCF conversion rate of 135% ▪ Announced offer to acquire Meggitt PLC, greatly enhancing aerospace portfolio

Drivers of Parker’s Performance Great Generators and Deployers of Cash Living Up to Our Purpose Top Quartile Performance vs. Proxy Peers 6

7

3 Vaccine Production 8 Instead of Soft Drinks…Delivering Sterile Vaccine Ingredients  Long lead times  Large space requirements  Difficult changeovers Challenges Simple Concept

3 Parker’s Inline Dilution System Proprietary Point of Use Process for Combining Purified Vaccine Ingredients 9  Modular, point-of-use process  IoT two-way communication  IP protected single use consumables  Proprietary software and automation Life Saving Vaccines

Sustainability Targets Announced July 2021 10 Enabling a More Sustainable Future

Technologies Enabling a Sustainable Future 11  ~2/3’s of portfolio enables clean technologies  Exciting bill of material expansion opportunities  On-board and infrastructure growth potential

$6.99 $8.86 $11.57 $13.10 $12.44 $15.04 FY16 FY17 FY18 FY19 FY20 FY21 Adjusted EPS1 1: Adjusted numbers include certain non-GAAP financial measures. See Appendix for additional details and reconciliations. $5.89 $7.25 $7.83 $11.57 $9.26 $13.35As Reported EPS Our People, Portfolio & Strategy Transform Performance 14.7% 16.7% 17.5% 18.3% 19.3% 21.3% FY16 FY17 FY18 FY19 FY20 FY21 Adjusted EBITDA1 12 $0.81B $0.98B $1.06B $1.53B $1.20B $1.75BAs Reported Net Income >2x EPS growth Increased 660 bps

13 Compelling Strategic Aerospace Combination Nearly doubles the size of Aerospace Systems Segment with complementary technologies 70% sole-source with proprietary products that expand system and component capabilities Strong recurring revenue – adds 500 bps to Aerospace aftermarket mix Strong growth potential driven by commercial aerospace recovery and synergies Accretive to organic sales growth, margin, EPS and cash flow1 Source: Meggitt investor materials 1. Excludes one-time costs and deal related amortization

15 Financial Summary FY21 Q4 vs. FY20 Q4 1. Sales figures As Reported. Adjusted numbers include certain non-GAAP financial measures. See Appendix for additional details and reconciliations. Note: FY20 Q4 As Reported: Segment Operating Margin of 15.8%, EBITDA Margin of 18.5%, Net Income of $289M, EPS of $2.23. $ Millions, except per share amounts Q4 FY21 Q4 FY21 Q4 FY20 YoY Change As Reported Adjusted¹ Adjusted¹ Adjusted Sales $3,959 $3,959 $3,161 +25.2% Segment Operating Margin 20.0% 22.2% 19.9% +230 bps EBITDA Margin 21.8% 22.1% 20.2% +190 bps Net Income $505 $577 $387 +49% EPS $3.84 $4.38 $2.99 +46%

16 Adjusted Earnings per Share Bridge FY20 Q4 to FY21 Q4 1. FY20 Q4 As Reported EPS of $2.23. FY21 Q4 As Reported EPS of $3.84. Adjusted numbers include certain non-GAAP financial measures. See Appendix for additional details and reconciliations.

17 FY21 Q4 Segment Performance Sales As Reported $ Organic %¹ Segment Operating Margin As Reported Segment Operating Margin Adjusted1 Order Rates2 Commentary $1,823M +25.8% Organic 19.8% 22.5% +300 bps YoY +56% • Strong organic growth • Record segment operating margin • Portfolio enhancements $1,506M +28.5% Organic 20.4% 22.1% +300 bps YoY +58% • Strong organic growth • Record segment operating margin • Portfolio enhancements $630M +0.7% Organic 19.5% 21.6% -80 bps YoY (7)% • Strong sequential aftermarket growth • Narrow body & business jet rate increases • Lower R&D expense $3,959M +21.8% Organic 20.0% 22.2% +230 bps YoY +43% • Achieved FY23 margin targets • Industrial segment sales > pre-Covid • 31% incrementals 1. Adjusted numbers include certain non-GAAP financial measures. See Appendix for additional details and reconciliations. 2. Order Rates exclude acquisitions, divestitures, & currency. Industrial is a 3-month YoY comparison of total dollars. Aerospace is a rolling 12-month YoY comparison. Diversified Industrial International Diversified Industrial North America Parker Aerospace Systems

18 FY21 Cash Flow Performance  Cash Flow from Operations of 17.9%  Free Cash Flow of 16.5%  Free Cash Flow Conversion of 135%  All serviceable debt repaid, as of June 30th  ~$3.4 billion debt reduction in last 20 months  Gross debt to EBITDA of 2.1x; Net debt to EBITDA of 1.9x 1. Adjusted numbers include certain non-GAAP financial measures. See Appendix for additional details and reconciliations. % to Sales $ Millions17.9% 16.5% 15.1% 13.4% Cash Flow from Operations Free Cash Flow1 FY21 FY20

19 FY22 Guidance Issued EPS Midpoint: $14.48 As Reported, $16.60 Adjusted Sales Growth vs. Prior Year Diversified Industrial North America ~ 6% - 10% Diversified Industrial International ~ 5% - 9% Aerospace Systems ~ 2% - 6% Parker ~ 5% - 9% Segment Operating Margins As Reported Adjusted1 Diversified Industrial North America 19.3% - 19.7% 22.1% - 22.5% Diversified Industrial International 19.4% - 19.8% 21.3% - 21.7% Aerospace Systems 17.6% - 18.0% 19.7% - 20.1% Parker 19.1% - 19.5% 21.4% - 21.8% Additional Items As Reported Adjusted1 Corporate G&A, Interest and Other $480M $480M Full Year Reported Tax Rate ~23% Diluted Shares Outstanding 131.5M Earnings Per Share As Reported Adjusted1 Range $14.08 - $14.88 $16.20 - $17.00 1. Adjusted numbers include certain non-GAAP financial measures. See Appendix for additional details and reconciliations.

20 Adjusted Earnings per Share Bridge FY21 Actual vs. FY22 Guidance 1: Adjusted for acquired intangible asset amortization, business realignment charges, integration costs to achieve, acquisition-related expenses, gain on sale of land, and the tax effect of such adjustments 2: Adjusted for acquired intangible asset amortization, business realignment charges, integration costs to achieve, and the tax effect of such adjustments

FY22 Capital Deployment Strategies Dividends: Maintain annual increase record • Target 5-year average payout 30-35% of net income Fund organic growth and productivity • Target capital expenditures 2% of sales Offset share dilution through 10b5-1 share repurchase program Accumulation of cash in preparation for Meggitt close 21

Key Messages  Highly engaged global team  Living up to our Purpose  Top quartile performance  Achieved FY23 margin targets 2 years early  Strategic portfolio transformation 22 The Win Strategy 3.0 & Capital Deployment Accelerate Performance

Appendix • Reconciliation of Organic Growth • Adjusted Amounts Reconciliation • Reconciliation of EPS • Reconciliation of Total Segment Operating Margin to Adjusted Total Segment Operating Margin • Reconciliation of EBITDA to Adjusted EBITDA • Reconciliation of Free Cash Flow Conversion • Supplemental Sales Information – Global Technology Platforms • Reconciliation of Forecasted EPS 24

Reconciliation of Organic Growth 25 (Dollars in thousands) (Unaudited) Quarter-to-Date As Reported Currency Organic As Reported Net Sales June 30, 2021 June 30, 2021 June 30, 2020 Diversified Industrial: North America $ 1,823,078 $ (11,821) $ 1,811,257 $ 1,440,263 International 1,505,835 (97,107) 1,408,728 1,096,380 Total Diversified Industrial 3,328,913 (108,928) 3,219,985 2,536,643 Aerospace Systems 629,956 (1,650) 628,306 623,960 Total Parker Hannifin $ 3,958,869 $ (110,578) $ 3,848,291 $ 3,160,603 As reported Currency Organic Diversified Industrial: North America 26.6 % 0.8 % 25.8 % International 37.3 % 8.8 % 28.5 % Total Diversified Industrial 31.2 % 4.3 % 26.9 % Aerospace Systems 1.0 % 0.3 % 0.7 % Total Parker Hannifin 25.3 % 3.5 % 21.8 %

Reconciliation of Organic Growth 26 (Dollars in thousands) (Unaudited) Year-to-Date As Reported Currency Adjusted As Reported Net Sales June 30, 2021 Acquisitions June 30, 2021 6/30/2020 Diversified Industrial: North America $ 6,676,449 $ (7,624) $ (187,531) $ 6,481,294 $ 6,456,298 International 5,283,710 (243,669) (135,576) 4,904,465 4,504,587 Total Diversified Industrial 11,960,159 (251,293) (323,107) 11,385,759 10,960,885 Aerospace Systems 2,387,481 (5,376) (70,953) 2,311,152 2,734,635 Total Parker Hannifin $ 14,347,640 $ (256,669) $ (394,060) $ 13,696,911 $ 13,695,520 As reported Currency Acquisitions Organic Diversified Industrial: North America 3.4 % 0.1 % 2.9 % 0.4 % International 17.3 % 5.4 % 3.0 % 8.9 % Total Diversified Industrial 9.1 % 2.3 % 2.9 % 3.9 % Aerospace Systems (12.7)% 0.2 % 2.6 % (15.5 ) % Total Parker Hannifin 4.8 % 1.9 % 2.9 % — % (12.7)% (15. )

Adjusted Amounts Reconciliation Consolidated Statement of Income 27 (Dollars in thousands, except per share data) (Unaudited) Quarter-to-Date FY 2021 % of Sales Acquired Intangible Asset Amortization Business Realignment Charges Lord Costs to Achieve Exotic Costs to Achieve Acquisition Related Expenses % of Sales As Reported Adjusted June 30, 2021 June 30, 2021 Net Sales $ 3,958,869 100.0 % $ — $ — $ — $ — $ — $ 3,958,869 100.0 % Cost of Sales 2,832,281 71.5 % — 4,357 425 — 2,827,499 71.4 % Selling, general, and admin. expenses 414,048 10.5 % 81,254 3,435 1,302 20 3,549 324,488 8.2 % Interest expense 60,258 1.5 % — — — — 60,258 1.5 % Other (income), net (4,269) (0.1)% — — — — (4,269) (0.1)% Income before income taxes 656,551 16.6 % (81,254) (7,792) (1,727) (20) (3,549) 750,893 19.0 % Income taxes 151,582 3.8 % 19,338 1,854 411 5 845 174,035 4.4 % Net Income 504,969 12.8 % (61,916) (5,938) (1,316) (15) (2,704) 576,858 14.6 % Less: Noncontrollable interests 176 0.0 % — — — — — 176 0.0 % Net Income - common shareholders $ 504,793 12.8 % $ (61,916) $ (5,938) $ (1,316) $ (15) $ (2,704) $ 576,682 14.6 % Diluted earnings per share $ 3.84 $ (0.47) $ (0.04) $ (0.01) $ — $ (0.02) $ 4.38

Adjusted Amounts Reconciliation Consolidated Statement of Income 28 *Prior periods have been adjusted to reflect the change in inventory accounting method (Dollars in thousands, except per share data) (Unaudited) Quarter-to-Date FY 2020 Acquired Business Lord Exotic Acquisition Favorable As Reported Intangible Asset Realignment Costs to Costs to Related Tax Adjusted June 30, 2020* % of Sales Amortization Charges Achieve Achieve Expenses Settlement June 30, 2020* % of Sales Net sales 3,160,603$ 100.0 % -$ -$ -$ -$ -$ -$ 3,160,603$ 100.0 % Cost of sales 2,365,531 74.8 % - 37,566 324 - - - 2,327,641 73.6 % Selling, general and admin. expenses 352,793 11.2 % 80,737 10,035 1,842 338 4,437 - 255,404 8.1 % Interest expense 74,549 2.4 % - - - - - - 74,549 2.4 % Other (income) expense, net 5,374 0.2 % - - - - - - 5,374 0.2 % Income before income taxes 362,356 11.5 % (80,737) (47,601) (2,166) (338) (4,437) - 497,635 15.7 % Income taxes 72,879 2.3 % 18,812 11,091 505 79 1,034 6,039 110,439 3.5 % Net income 289,477 9.2 % (61,925) (36,510) (1,661) (259) (3,403) 6,039 387,196 12.3 % Less: Noncontrolling interests (21) (0.0)% - - - - - - (21) (0.0)% Net income - common shareholders 289,498$ 9.2 % (61,925)$ (36,510)$ (1,661)$ (259)$ (3,403)$ 6,039$ 387,217$ 12.3 % Diluted earnings per share 2.23$ (0.48)$ (0.28)$ (0.02)$ -$ (0.03)$ 0.05$ 2.99$

Adjusted Amounts Reconciliation Business Segment Information 29 (Dollars in thousands) (Unaudited) Quarter-to-Date FY 2021 % of Sales Acquired Intangible Asset Amortization Business Realignment Charges Lord Costs to Achieve Exotic Costs to Achieve Acquisition Related Expenses % of Sales2 As Reported Adjusted June 30, 2021 June 30, 2021 Diversified Industrial North America1 $ 360,378 19.8 % $ 47,497 $ 2,130 $ 889 $ — $ — $ 410,894 22.5 % International1 306,513 20.4 % 20,988 5,180 838 — — 333,519 22.1 % Aerospace Systems1 123,097 19.5 % 12,769 37 — 20 — 135,923 21.6 % Total segment operating income 789,988 20.0 % (81,254) (7,347) (1,727) (20) — 880,336 22.2 % Corporate administration 54,883 1.4 % — 445 — — — 54,438 1.4 % Income before interest and other 735,105 18.6 % (81,254) (7,792) (1,727) (20) — 825,898 20.9 % Interest expense 60,258 1.5 % — — — — — 60,258 1.5 % Other (income) expense 18,296 0.5 % — — — — 3,549 14,747 0.4 % Income before income taxes $ 656,551 16.6 % $ (81,254) $ (7,792) $ (1,727) $ (20) $ (3,549) $ 750,893 19.0 % 1Segment operating income as a percent of sales is calculated on as reported segment sales. 2Adjusted amounts as a percent of sales are calculated on as reported segment sales.

Reconciliation of Earnings per Diluted Share to Adjusted Earnings per Diluted Share 30 (Unaudited) Three Months Ended June 30, (Amounts in dollars) 2021 2020* Earnings per diluted share $ 3.84 $ 2.23 Adjustments: Acquired intangible asset amortization expense 0.62 0.62 Business realignment charges 0.06 0.37 Lord costs to achieve 0.01 0.02 Acquisition-related expenses 0.03 0.03 Tax effect of adjustments1 (0.18) (0.23) Favorable tax settlement — (0.05) Adjusted earnings per diluted share $ 4.38 $ 2.99 1This line item reflects the aggregate tax effect of all non-tax adjustments reflected in the preceding line items of the table. We estimate the tax effect of each adjustment item by applying our overall effective tax rate for continuing operations to the pre-tax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment. *Prior periods have been adjusted to reflect the change in inventory accounting method

Reconciliation of Earnings per Diluted Share to Adjusted Earnings per Diluted Share 31 1This line item reflects the aggregate tax effect of all non-tax adjustments reflected in the preceding line items of the table. We estimate the tax effect of each adjustment item by applying our overall effective tax rate for continuing operations to the pre-tax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment. *FY19 and FY20 have been adjusted to reflect the change in inventory accounting method

32 Reconciliation of Total Segment Operating Margin to Adjusted Total Segment Operating Margin (Unaudited) Three Months Ended Three Months Ended (Dollars in thousands) June 30, 2021 June 30, 2020 Operating income Operating margin Operating income Operating margin Total segment operating income $ 789,988 20.0 % $ 500,646 15.8 % Adjustments: Acquired intangible asset amortization expense 81,254 80,737 Business realignment charges 7,347 46,619 Lord costs to achieve 1,727 2,166 Exotic costs to achieve 20 338 Adjusted total segment operating income $ 880,336 22.2 % $ 630,506 19.9 %

33 Reconciliation of EBITDA to Adjusted EBITDA (Unaudited) Three Months Ended June 30, (Dollars in thousands) 2021 2020* Net sales $ 3,958,869 $ 3,160,603 Net income $ 504,969 $ 289,477 Income taxes 151,582 72,879 Depreciation and amortization 146,582 146,582 Interest expense 60,258 74,549 EBITDA 863,391 583,487 Adjustments: Business realignment charges 7,792 47,601 Lord costs to achieve 1,727 2,166 Exotic costs to achieve 20 338 Acquisition-related expenses 3,549 4,437 Adjusted EBITDA $ 876,479 $ 638,029 EBITDA margin 21.8 % 18.5 % Adjusted EBITDA margin 22.1 % 20.2 % *Prior periods have been adjusted to reflect the change in inventory accounting method

34 1Amounts have been adjusted to reflect the change in inventory accounting method. *Totals may not foot due to rounding Reconciliation of EBITDA to Adjusted EBITDA

Reconciliation of Free Cash Flow Conversion 35 (Unaudited) Twelve Months Ended June 30, 2021 Twelve Months Ended June 30, 2020(Dollars in thousands) Net income $ 1,746,861 $ 1,202,332 Cash flow from operations $ 2,575,001 $ 2,070,949 Capital Expenditures (209,957) (232,591) Free cash flow $ 2,365,044 $ 1,838,358 Free cash flow conversion (free cash flow / net income) 135 % 153 %

Supplemental Sales Information Global Technology Platforms 36 (Unaudited) Three Months Ended June 30, Twelve Months Ended June 30, (Dollars in thousands) 2021 2020 2021 2020 Net sales Diversified Industrial: Motion Systems $ 883,395 $ 698,684 $ 3,081,366 $ 2,996,645 Flow and Process Control 1,152,437 826,919 4,108,080 3,795,952 Filtration and Engineered Materials 1,293,081 1,011,040 4,770,713 4,168,288 Aerospace Systems 629,956 623,960 2,387,481 2,734,635 Total $ 3,958,869 $ 3,160,603 $ 14,347,640 $ 13,695,520

Reconciliation of EPS Fiscal Year 2022 Guidance 37 (Unaudited) (Amounts in dollars) Fiscal Year 2022 Forecasted earnings per diluted share $14.08 to $14.88 Adjustments: Business realignment charges 0.27 Costs to achieve 0.05 Acquisition-related intangible asset amortization expense 2.43 Tax effect of adjustments1 (0.63) Adjusted forecasted earnings per diluted share $16.20 to $17.00 1This line item reflects the aggregate tax effect of all non-tax adjustments reflected in the preceding line items of the table. We estimate the tax effect of each adjustment item by applying our overall effective tax rate for continuing operations to the pre-tax amount, unless the nature of the item and/or the tax jurisdiction in which the item has been recorded requires application of a specific tax rate or tax treatment, in which case the tax effect of such item is estimated by applying such specific tax rate or tax treatment.

XML

Cover	Aug. 05, 2021
Cover [Abstract]
Document Type	8-K
Document Period End Date	Aug. 05, 2021
Entity Registrant Name	PARKER-HANNIFIN CORPORATION
Entity Incorporation, State or Country Code	OH
Entity File Number	1-4982
Entity Tax Identification Number	34-0451060
Entity Address, Address Line One	6035 Parkland Boulevard
Entity Address, City or Town	Cleveland
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44124-4141
City Area Code	216
Local Phone Number	896-3000
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Shares, $.50 par value
Trading Symbol	PH
Security Exchange Name	NYSE
Entity Central Index Key	0000076334
Amendment Flag	false