EX-12.1 2 exhibit121-computationofea.htm EXHIBIT 12.1 - COMPUTATION OF EARNINGS TO FIXED CHARGES 2017 Exhibit


EXHIBIT 12.1
Federal Home Loan Bank of Des Moines    
Computation of Earnings to Fixed Charges
(numbers in millions)

 
For the Years Ended December 31,
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings:
 
 
 
 
 
 
 
 
 
Income before assessments
$
578

 
$
724

 
$
148

 
$
135

 
$
122

Fixed charges
1,784

 
1,076

 
524

 
421

 
422

Total earnings
2,362

 
1,800

 
672

 
556

 
544

 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
Interest expense
1,783

 
1,075

 
523

 
420

 
421

1/3 of net rental expense1
1

 
1

 
1

 
1

 
1

Total fixed charges
$
1,784

 
$
1,076

 
$
524

 
$
421

 
$
422

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
1.32

 
1.67

 
1.28

 
1.32

 
1.29


1    Represents an estimated interest factor.