EX-12 2 ex12201410-k.htm EXHIBIT 12 Ex 12 2014 10-K


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,
 
2014
2013
2012
2011
2010
Income before assessments
$
271,858

$
290,698

$
262,103

$
174,831

$
225,753

Add: fixed charges (see below)
591,983

572,910

613,378

762,420

979,572

Total earnings
$
863,841

$
863,608

$
875,481

$
937,251

$
1,205,325

 
 
 
 
 
 
Fixed charges: (1)
 
 
 
 
 
Interest expense
$
591,373

$
572,311

$
612,723

$
761,741

$
978,912

Interest portion of rent expense
610

599

655

679

660

Total fixed charges
$
591,983

$
572,910

$
613,378

$
762,420

$
979,572

 
 
 
 
 
 
Ratio of earnings to fixed charges (2)
1.46

1.51

1.43

1.23

1.23


(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.