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Content analysis
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H.S. freshman Avg
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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, |
| |||||||||||||
|
| 2005 |
| 2004 |
| 2003 |
| 2002 |
| 2001 |
| |||||
Earnings |
|
|
|
|
|
|
|
|
|
|
| |||||
Income before assessments |
| $ | 177,187 |
| $ | 121,994 |
| $ | 124,628 |
| $ | 103,173 |
| $ | 156,236 |
|
Fixed charges |
| 1,608,814 |
| 964,484 |
| 1,020,447 |
| 1,212,801 |
| 1,734,195 |
| |||||
Income before assessments and fixed charges |
| 1,786,001 |
| 1,086,478 |
| 1,145,075 |
| 1,315,974 |
| 1,890,431 |
| |||||
Fixed Charges |
|
|
|
|
|
|
|
|
|
|
| |||||
Interest expense |
| 1,607,602 |
| 963,299 |
| 1,019,216 |
| 1,211,715 |
| 1,733,509 |
| |||||
1/3 of net rent expense (1) |
| 1,212 |
| 1,185 |
| 1,231 |
| 1,086 |
| 686 |
| |||||
Total fixed charges |
| $ | 1,608,814 |
| $ | 964,484 |
| $ | 1,020,447 |
| $ | 1,212,801 |
| $ | 1,734,195 |
|
Ratio of earnings to fixed charges |
| 1.11 |
| 1.13 |
| 1.12 |
| 1.09 |
| 1.09 |
|
(1) Represents an estimated interest factor.