EX-12 5 ex12december312016.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Exhibit
EXHIBIT 12

Federal Home Loan Bank of Boston
Computation of Ratio of Earnings to Fixed Charges
(dollars in thousands)

 
 
For the Year Ended December 31,
 
 
2016
 
2015
 
2014
 
2013
 
2012
 
 
 
 
 
 
 
 
 
 
 
Earnings
 
 
 
 
 
 
 
 
 
 
Income before assessments
 
$
192,604

 
$
321,646

 
$
167,411

 
$
236,536

 
$
230,184

Fixed charges
 
457,379

 
360,184

 
346,250

 
331,805

 
418,618

 
 
 
 
 
 
 
 
 
 
 
Income before assessments and fixed charges
 
649,983

 
681,830

 
513,661

 
568,341

 
648,802

 
 
 
 
 
 
 
 
 
 
 
Fixed Charges
 
 
 
 
 
 
 
 
 
 
Interest expense
 
456,415

 
359,225

 
345,327

 
330,905

 
417,735

1/3 of net rent expense (1)
 
964

 
959

 
923

 
900

 
883

 
 
 
 
 
 
 
 
 
 
 
Total fixed charges
 
$
457,379

 
$
360,184

 
$
346,250

 
$
331,805

 
$
418,618

 
 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
 
1.42

 
1.89

 
1.48

 
1.71

 
1.55

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(1) Represents an estimated interest factor.