EX-12 4 ex12201610-k.htm EXHIBIT 12 Exhibit


Exhibit 12

FEDERAL HOME LOAN BANK OF CINCINNATI
STATEMENTS OF COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands)


 
Year Ended December 31,
 
2016
2015
2014
2013
2012
Income before assessments
$
298,372

$
282,342

$
281,536

$
269,359

$
242,467

Add: fixed charges (see below)
860,835

635,642

591,983

572,910

613,378

Total earnings
$
1,159,207

$
917,984

$
873,519

$
842,269

$
855,845

 
 
 
 
 
 
Fixed charges: (1)
 
 
 
 
 
Interest expense
$
860,190

$
634,979

$
591,373

$
572,311

$
612,723

Interest portion of rent expense
645

663

610

599

655

Total fixed charges
$
860,835

$
635,642

$
591,983

$
572,910

$
613,378

 
 
 
 
 
 
Ratio of earnings to fixed charges (2)
1.35

1.44

1.48

1.47

1.40


(1)
Fixed charges consist of interest expense (including amortization related to indebtedness) and one-third (the proportion deemed representative of the interest portion) of rent expense.
(2)
The ratio of earnings to fixed charges has been computed by dividing Total earnings by Total fixed charges.