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) | 2016 | 2015 | 2014 | 2013 | 2012 | ||||||||||
Earnings | |||||||||||||||
Income before assessments | $ | 288,941 | $ | 285,049 | $ | 284,208 | $ | 164,453 | $ | 144,193 | |||||
Fixed charges | 637,407 | 378,462 | 343,693 | 402,142 | 521,341 | ||||||||||
Earnings available for fixed charges | 926,348 | 663,511 | 627,901 | 566,595 | 665,534 | ||||||||||
Fixed charges | |||||||||||||||
Interest expense | 636,701 | 377,756 | 342,986 | 401,437 | 520,619 | ||||||||||
Interest portion of net rent expense(1) | 706 | 706 | 707 | 705 | 722 | ||||||||||
Total fixed charges | $ | 637,407 | $ | 378,462 | $ | 343,693 | $ | 402,142 | $ | 521,341 | |||||
Ratio of earnings to fixed charges | 1.45 | 1.75 | 1.83 | 1.41 | 1.28 | ||||||||||
Notes:
(1) Represents one-third (the proportion deemed representative of the interest portion) of rent expense.