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) | 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.