EX-12.1 2 ex123114121.htm EXHIBIT 12.1 EX 12.31.14 12.1


Exhibit 12.1
FEDERAL HOME LOAN BANK OF TOPEKA
CALCULATION OF EARNINGS TO FIXED CHARGES
(In thousands)

 
Year Ended December 31,
 
2014
2013
2012
2011
2010
 
 
 
 
 
 
Earnings:
 
 
 
 
 
Income Before Assessments
$
117,787

$
132,267

$
122,572

$
97,759

$
45,701

Total Fixed Charges
203,136

225,292

275,103

315,561

380,135

Capitalized Interest
—

—

—

—

—

Total Earnings
$
320,923

$
357,559

$
397,675

$
413,320

$
425,836

 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
Interest Expense1
$
203,136

$
225,292

$
275,103

$
315,561

$
380,135

Capitalized Interest
—

—

—

—

—

Estimated Interest Attributable to Rental Expense 2
—

—

—

—

—

Total Fixed Charges
$
203,136

$
225,292

$
275,103

$
315,561

$
380,135

 
 
 
 
 
 
Earnings to Fixed Charges Ratio
1.58

1.59

1.45

1.31

1.12

                    
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.