EX-12 6 l39003exv12.htm EX-12 exv12
Exhibit 12
FEDERAL HOME LOAN BANK OF CINCINNATI
STATEMENTS OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
                                         
    Year Ended December 31,  
    2009     2008     2007     2006     2005  
     
 
                                        
Income before assessments
   $ 365,845     $ 322,592     $ 366,524     $ 345,954     $ 300,481  
Add: fixed charges (see below)
     1,295,555       2,826,014       3,927,597       3,547,268       2,597,945  
     
 
                                        
Total earnings
   $ 1,661,400     $ 3,148,606     $ 4,294,121     $ 3,893,222     $ 2,898,426  
     
 
                                        
Fixed charges: (1)
                                        
Interest expense
   $ 1,294,877     $ 2,825,376     $ 3,926,975     $ 3,546,666     $ 2,597,379  
Interest portion of rent expense
     678       638       622       602       566  
     
 
                                        
Total fixed charges
   $ 1,295,555     $ 2,826,014     $ 3,927,597     $ 3,547,268     $ 2,597,945  
     
 
                                        
Ratio of earnings to fixed charges (2)
     1.28       1.11       1.09       1.10       1.12  
     
 
     (1)   Fixed charges consist of interest expense (including amortization related to indebtedness) and one-third (the proportion deemed representative of the interest portion) of rent expense.
     (2)   The ratio of earnings to fixed charges has been computed by dividing Total earnings by Total fixed charges.