EXHIBIT 12
THE COCA-COLA COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(In millions except ratios)
<TABLE>
<CAPTION>
Six Months
Ended
June 30, Year Ended December 31,
---------------------------------------------------------
2000 1999 1998 1997 1996 1995
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<S> <C> <C> <C> <C> <C> <C>
EARNINGS:
Income before income
taxes and changes in
accounting principles $ 1,439 $ 3,819 $ 5,198 $ 6,055 $ 4,596 $ 4,328
Fixed charges 241 386 320 300 324 318
Adjustments:
Capitalized
interest, net (7) (18) (17) (17) (7) (9)
Equity (income)loss,
net of dividends 68 292 31 (108) (89) (25)
------- ------- ------- ------ ------- -------
Adjusted earnings $ 1,741 $ 4,479 $ 5,532 $ 6,230 $ 4,824 $ 4,612
======= ======= ======= ======= ======= =======
FIXED CHARGES:
Gross interest
incurred $ 225 $ 355 $ 294 $ 275 $ 293 $ 281
Interest portion of
rent expense 16 31 26 25 31 37
------- -------- ------- ------- ------- -------
Total fixed charges $ 241 $ 386 $ 320 $ 300 $ 324 $ 318
======= ======== ======= ======= ======= =======
Ratios of earnings
to fixed charges 7.2 11.6 17.3 20.8 14.9 14.5
======= ======== ======= ======= ======= =======
</TABLE>
[FN]
At June 30, 2000, our Company is contingently liable for guarantees of
indebtedness owed by third parties in the amount of $370 million. Fixed
charges for these contingent liabilities have not been included in the
computations of the above ratios as the amounts are immaterial and, in the
opinion of Management, it is not probable that our Company will be required to
satisfy the guarantees.
</FN>
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