Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - FEDERAL HOME LOAN MORTGAGE CORP | f71550e10vq.htm |
| EX-4.1 - EXHIBIT 4.1 - FEDERAL HOME LOAN MORTGAGE CORP | f71550exv4w1.htm |
| EX-31.2 - EXHIBIT 31.2 - FEDERAL HOME LOAN MORTGAGE CORP | f71550exv31w2.htm |
| EX-32.2 - EXHIBIT 32.2 - FEDERAL HOME LOAN MORTGAGE CORP | f71550exv32w2.htm |
| EX-31.1 - EXHIBIT 31.1 - FEDERAL HOME LOAN MORTGAGE CORP | f71550exv31w1.htm |
| EX-32.1 - EXHIBIT 32.1 - FEDERAL HOME LOAN MORTGAGE CORP | f71550exv32w1.htm |
| EX-10.2 - EXHIBIT 10.2 - FEDERAL HOME LOAN MORTGAGE CORP | f71550exv10w2.htm |
Exhibit 12.1
RATIO OF
EARNINGS TO FIXED CHARGES AND
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED
STOCK DIVIDENDS
| Three Months Ended March 31, | Year Ended December 31, | |||||||||||||||||||||||||||
| 2011 | 2010 | 2010 | 2009 | 2008 | 2007 | 2006 | ||||||||||||||||||||||
| (dollars in millions) | ||||||||||||||||||||||||||||
|
Net Income (loss) before income tax benefit (expense) and
cumulative effect of changes in accounting principles
|
$ | 602 | $ | (6,792 | ) | $ | (14,882 | ) | $ | (22,384 | ) | $ | (44,564 | ) | $ | (5,989 | ) | $ | 2,340 | |||||||||
|
Add:
|
||||||||||||||||||||||||||||
|
Low-income housing tax credit partnerships
|
— | — | — | 4,155 | 453 | 469 | 407 | |||||||||||||||||||||
|
Total interest expense
|
20,968 | 24,242 | 92,131 | 22,150 | 33,332 | 38,482 | 37,270 | |||||||||||||||||||||
|
Interest factor in rental expenses
|
1 | 2 | 5 | 7 | 8 | 7 | 6 | |||||||||||||||||||||
|
Earnings (loss), as adjusted
|
$ | 21,571 | $ | 17,452 | $ | 77,254 | $ | 3,928 | $ | (10,771 | ) | $ | 32,969 | $ | 40,023 | |||||||||||||
|
Fixed charges:
|
||||||||||||||||||||||||||||
|
Total interest expense
|
$ | 20,968 | $ | 24,242 | $ | 92,131 | $ | 22,150 | $ | 33,332 | $ | 38,482 | $ | 37,270 | ||||||||||||||
|
Interest factor in rental expenses
|
1 | 2 | 5 | 7 | 8 | 7 | 6 | |||||||||||||||||||||
|
Capitalized interest
|
— | — | — | — | — | — | — | |||||||||||||||||||||
|
Total fixed charges
|
$ | 20,969 | $ | 24,244 | $ | 92,136 | $ | 22,157 | $ | 33,340 | $ | 38,489 | $ | 37,276 | ||||||||||||||
|
Senior preferred stock and preferred stock
dividends(1)
|
1,605 | 1,292 | 5,749 | 4,105 | 675 | 398 | 270 | |||||||||||||||||||||
|
Total fixed charges including preferred stock dividends
|
$ | 22,574 | $ | 25,536 | $ | 97,885 | $ | 26,262 | $ | 34,015 | $ | 38,887 | $ | 37,546 | ||||||||||||||
|
Ratio of earnings to fixed
charges(2)
|
1.03 | — | — | — | — | — | 1.07 | |||||||||||||||||||||
|
Ratio of earnings to combined fixed charges and preferred stock
dividends(3)
|
— | — | — | — | — | — | 1.07 | |||||||||||||||||||||
| (1) | Senior preferred stock and preferred stock dividends represent pre-tax earnings required to cover any senior preferred stock and preferred stock dividend requirements computed using our effective tax rate, whenever there is an income tax provision, for the relevant periods. |
| (2) | Ratio of earnings to fixed charges is computed by dividing earnings (loss), as adjusted by total fixed charges. For the ratio to equal 1.00, earnings (loss), as adjusted must increase by $6.8 billion, $14.9 billion, $18.2 billion, $44.1 billion and $5.5 billion for the three months ended March 31, 2010 and for the years ended December 31, 2010, 2009, 2008 and 2007, respectively. |
| (3) | Ratio of earnings to combined fixed charges and preferred stock dividends is computed by dividing earnings (loss), as adjusted by total fixed charges including preferred stock dividends. For the ratio to equal 1.00, earnings (loss), as adjusted must increase by $1.0 billion, $8.1 billion, $20.6 billion, $22.3 billion, $44.8 billion and $5.9 billion for the three months ended March 31, 2011 and 2010 and for the years ended December 31, 2010, 2009, 2008 and 2007, respectively. |