EX-12.1 5 fhlbpitex12110k2017.htm RATIO OF EARNINGS TO FIXED CHARGES Exhibit


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

 
For the year ended December 31,
(dollars in thousands)
2017
2016
2015
2014
2013
Earnings
 
 
 
 
 
Income before assessments
$
377,400

$
288,941

$
285,049

$
284,208

$
164,453

Fixed charges
1,018,945

637,407

378,462

343,693

402,142

Earnings available for fixed charges
1,396,345

926,348

663,511

627,901

566,595

 
 
 
 
 
 
Fixed charges
 
 
 
 
 
Interest expense
1,018,246

636,701

377,756

342,986

401,437

Interest portion of net rent expense(1)
699

706

706

707

705

Total fixed charges
$
1,018,945

$
637,407

$
378,462

$
343,693

$
402,142

 
 
 
 
 
 
Ratio of earnings to fixed charges
1.37

1.45

1.75

1.83

1.41

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