EX-12.1 6 fhlbpitex12110k2014.htm RATIO OF EARNINGS TO FIXED CHARGES FHLB Pit ex12.1 10K 2014


Exhibit 12.1


Federal Home Loan Bank of Pittsburgh
Computation of Ratio of Earnings to Fixed Charges
(unaudited)

 
For the year ended December 31,
(dollars in thousands)
2014
2013
2012
2011
2010
Earnings
 
 
 
 
 
Income (loss) before assessments and
  cumulative effect of change in
  accounting principle
$
255,771

$
147,875

$
129,713

$
38,049

$
8,303

Fixed charges
343,693

402,142

521,341

622,615

742,012

Earnings available for fixed charges
599,464

550,017

651,054

660,664

750,315

 
 
 
 
 
 
Fixed charges
 
 
 
 
 
Interest expense
342,986

401,437

520,619

621,916

741,312

Interest portion of net rent expense(1)
707

705

722

699

700

Total fixed charges
$
343,693

$
402,142

$
521,341

$
622,615

$
742,012

 
 
 
 
 
 
Ratio of earnings to fixed charges
1.74

1.37

1.25

1.06

1.01

Notes:
(1) Represents one-third (the proportion deemed representative of the interest portion) of rent expense.