Federal Home Loan Bank of Cincinnati - FORM 10-K - EX-12 - EXHIBIT 12 - March 17, 2016

Attached files

file filename
EX-32 - EXHIBIT 32 - Federal Home Loan Bank of Cincinnatiex32201510-k.htm
EX-24 - EXHIBIT 24 - Federal Home Loan Bank of Cincinnatiex24201510-k.htm
EX-31.1 - EXHIBIT 31.1 - Federal Home Loan Bank of Cincinnatiex311201510-k.htm
EX-99.1 - EXHIBIT 99.1 - Federal Home Loan Bank of Cincinnatiex991201510-k.htm
EX-3.2 - EXHIBIT 3.2 - Federal Home Loan Bank of Cincinnatiex302201510-k.htm
EX-31.2 - EXHIBIT 31.2 - Federal Home Loan Bank of Cincinnatiex312201510-k.htm
10-K - 10-K - Federal Home Loan Bank of Cincinnatifhlbcin201510-k.htm
EX-99.2 - EXHIBIT 99.2 - Federal Home Loan Bank of Cincinnatiex992201510-k.htm


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,
 
2015
2014
2013
2012
2011
Income before assessments
$
276,624

$
271,858

$
290,698

$
262,103

$
174,831

Add: fixed charges (see below)
635,642

591,983

572,910

613,378

762,420

Total earnings
$
912,266

$
863,841

$
863,608

$
875,481

$
937,251

 
 
 
 
 
 
Fixed charges: (1)
 
 
 
 
 
Interest expense
$
634,979

$
591,373

$
572,311

$
612,723

$
761,741

Interest portion of rent expense
663

610

599

655

679

Total fixed charges
$
635,642

$
591,983

$
572,910

$
613,378

$
762,420

 
 
 
 
 
 
Ratio of earnings to fixed charges (2)
1.44

1.46

1.51

1.43

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.



Federal Home Loan Bank of Cincinnati Reports