EX-12 4 ex12201010k.htm EX-12 WebFilings | EDGAR view
 

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,
 
2010
2009
2008
2007
2006
Income before assessments
$
225,753
 
$
365,845
 
$
322,592
 
$
366,524
 
$
345,954
 
Add: fixed charges (see below)
979,572
 
1,295,555
 
2,826,014
 
3,927,597
 
3,547,268
 
Total earnings
$
1,205,325
 
$
1,661,400
 
$
3,148,606
 
$
4,294,121
 
$
3,893,222
 
 
 
 
 
 
 
Fixed charges: (1)
 
 
 
 
 
Interest expense
$
978,912
 
$
1,294,877
 
$
2,825,376
 
$
3,926,975
 
$
3,546,666
 
Interest portion of rent expense
660
 
678
 
638
 
622
 
602
 
Total fixed charges
$
979,572
 
$
1,295,555
 
$
2,826,014
 
$
3,927,597
 
$
3,547,268
 
 
 
 
 
 
 
Ratio of earnings to fixed charges (2)
1.23
 
1.28
 
1.11
 
1.09
 
1.10
 
 
(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.