EX-12.1 5 fhlbpitex12110k2015.htm RATIO OF EARNINGS TO FIXED CHARGES Exhibit


Federal Home Loan Bank of Pittsburgh
Computation of Ratio of Earnings to Fixed Charges
(unaudited)

 
For the year ended December 31,
(dollars in thousands)
2015
2014
2013
2012
2011
Earnings
 
 
 
 
 
Income (loss) before assessments and
  cumulative effect of change in
  accounting principle
$
256,530

$
255,771

$
147,875

$
129,713

$
38,049

Fixed charges
378,462

343,693

402,142

521,341

622,615

Earnings available for fixed charges
634,992

599,464

550,017

651,054

660,664

 
 
 
 
 
 
Fixed charges
 
 
 
 
 
Interest expense
377,756

342,986

401,437

520,619

621,916

Interest portion of net rent expense(1)
706

707

705

722

699

Total fixed charges
$
378,462

$
343,693

$
402,142

$
521,341

$
622,615

 
 
 
 
 
 
Ratio of earnings to fixed charges
1.68

1.74

1.37

1.25

1.06

Notes:
(1) Represents one-third (the proportion deemed representative of the interest portion) of rent expense