Attached files
Exhibit 12.1
FEDERAL HOME LOAN BANK OF TOPEKA
CALCULATION OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)
Year Ended December 31, | |||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||
Earnings: | |||||||||||||||
Income Before Assessments | $ | 179,757 | $ | 103,738 | $ | 117,787 | $ | 132,267 | $ | 122,572 | |||||
Total Fixed Charges | 323,253 | 225,750 | 203,136 | 225,292 | 275,103 | ||||||||||
Capitalized Interest | — | — | — | — | — | ||||||||||
Total Earnings | $ | 503,010 | $ | 329,488 | $ | 320,923 | $ | 357,559 | $ | 397,675 | |||||
Fixed Charges: | |||||||||||||||
Interest Expense1 | $ | 323,253 | $ | 225,750 | $ | 203,136 | $ | 225,292 | $ | 275,103 | |||||
Capitalized Interest | — | — | — | — | — | ||||||||||
Estimated Interest Attributable to Rental Expense 2 | — | — | — | — | — | ||||||||||
Total Fixed Charges | $ | 323,253 | $ | 225,750 | $ | 203,136 | $ | 225,292 | $ | 275,103 | |||||
Earnings to Fixed Charges Ratio | 1.56 | 1.46 | 1.58 | 1.59 | 1.45 | ||||||||||
1 | For purposes of this calculation the amortization of premium, discount, and capitalized expenses related to indebtedness are included in interest expense and have not been separately displayed in this calculation. |
2 | The FHLBank has rental expense; however, has not placed an estimated of the interest expense included in rental expense in this calculation as the amount is very minimal. |