Attached files
Federal Home Loan Bank of Pittsburgh
Computation of Ratio of Earnings to Fixed Charges
(unaudited)
For the year ended December 31, | |||||||||||||||
(dollars in thousands) | 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||
Earnings | |||||||||||||||
Income (loss) before assessments and cumulative effect of change in accounting principle | $ | 256,530 | $ | 255,771 | $ | 147,875 | $ | 129,713 | $ | 38,049 | |||||
Fixed charges | 378,462 | 343,693 | 402,142 | 521,341 | 622,615 | ||||||||||
Earnings available for fixed charges | 634,992 | 599,464 | 550,017 | 651,054 | 660,664 | ||||||||||
Fixed charges | |||||||||||||||
Interest expense | 377,756 | 342,986 | 401,437 | 520,619 | 621,916 | ||||||||||
Interest portion of net rent expense(1) | 706 | 707 | 705 | 722 | 699 | ||||||||||
Total fixed charges | $ | 378,462 | $ | 343,693 | $ | 402,142 | $ | 521,341 | $ | 622,615 | |||||
Ratio of earnings to fixed charges | 1.68 | 1.74 | 1.37 | 1.25 | 1.06 |
Notes:
(1) Represents one-third (the proportion deemed representative of the interest portion) of rent expense