Exhibit 12.1
FHLBank Topeka
Calculation of Earnings to Fixed Charges
(in thousands)
12/31/2008 | 12/31/2007 | 12/31/2006 | 12/31/2005 | 12/31/2004 | ||||||||||||||||
Earnings | ||||||||||||||||||||
Income Before Assessments | $ | 38,777 | $ | 204,816 | $ | 186,041 | $ | 185,627 | $ | 127,989 | ||||||||||
Total Fixed Charges | 1,642,925 | 2,517,128 | 2,238,914 | 1,500,725 | 798,103 | |||||||||||||||
Capitalized Interest | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
Total Earnings | 1,681,702 | 2,721,944 | 2,424,955 | 1,686,352 | 926,092 | |||||||||||||||
Fixed Charges | ||||||||||||||||||||
Interest Expense1 | 1,642,925 | 2,517,128 | 2,238,914 | 1,500,725 | 798,103 | |||||||||||||||
Capitalized Interest | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
Estimated Interest Attributable to Rental Expense 2 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||
Total Fixed Charges | $ | 1,642,925 | $ | 2,517,128 | $ | 2,238,914 | $ | 1,500,725 | $ | 798,103 | ||||||||||
Earnings to Fixed Charges Ratio | 1.02 | 1.08 | 1.08 | 1.12 | 1.16 | �� |
__________
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.