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Previous: COLGATE PALMOLIVE CO, 10-Q, EX-4.B(B), 2000-08-10 |
Next: COLGATE PALMOLIVE CO, 10-Q, EX-27, 2000-08-10 |
<PAGE>
Exhibit 12
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COLGATE-PALMOLIVE COMPANY
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COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
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Dollars in Millions (Unaudited)
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------
Six Months Ended
June 30, 2000
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<S> <C>
Income before income taxes $ 757.3
Add:
Interest on indebtedness and amortization of debt expense and 100.3
discount or premium
Portion of rents representative of interest factor 17.1
Interest on ESOP debt, net of dividends 1.5
Less:
Income of less than fifty-percent-owned subsidiaries (2.2)
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Income as adjusted $ 874.0
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Fixed Charges:
Interest on indebtedness and amortization of debt expense and $ 100.3
discount or premium
Portion of rents representative of interest factor 17.1
Interest on ESOP debt, net of dividends 1.5
Capitalized interest 2.0
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Total fixed charges $ 120.9
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Ratio of earnings to fixed charges 7.2
=============
</TABLE>
In June 1989, the Company's leveraged employee stock ownership plan ("ESOP")
issued $410.0 of long-term notes due through 2009 bearing an average interest
rate of 8.7%. These notes are guaranteed by the Company. Interest incurred on
the ESOP notes during the first half of 2000 was $15.8. This interest is funded
through preferred and common stock dividends. The fixed charges presented above
include interest on ESOP indebtedness to the extent it is not funded through
preferred and common stock dividends.
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