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EXHIBIT 12
COCA-COLA ENTERPRISES INC.
EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
(In millions except ratios)
QUARTER ENDED SIX MONTHS ENDED
----------------- -----------------
JUNE 30, JULY 2, JUNE 30, JULY 2,
2000 1999 2000 1999
-------- ------- -------- --------
Computation of Earnings:
Earnings (loss) from continuing
operations before income
taxes............................. $ 187 $ 50 $ 136 $ (41)
Add:
Interest expense.................. 194 179 384 361
Amortization of
capitalized interest............ 0 1 1 1
Amortization of debt premium/
discount and expenses........... 7 7 15 15
Interest portion of rent
expense......................... 6 8 12 14
------ ------ ------ ------
Earnings as Adjusted.................. $ 394 $ 245 $ 548 $ 350
====== ====== ====== ======
Computation of Fixed Charges:
Interest expense.................... $ 194 $ 179 $ 384 $ 361
Capitalized interest................ 1 0 1 2
Amortization of debt premium/
discount and expenses............. 7 7 15 15
Interest portion of rent
expense........................... 6 8 12 14
------ ------ ------ ------
Fixed Charges......................... 208 194 412 392
Preferred Stock Dividends (a)......... 1 1 2 2
------ ------ ------ ------
Combined Fixed Charges and
Preferred Stock Dividends........... $ 209 $ 195 $ 414 $ 394
====== ====== ====== ======
Ratio of Earnings to Fixed
Charges (c)......................... 1.90 1.26 1.33 (b)
====== ====== ====== ======
Ratio of Earnings to Combined
Fixed Charges and Preferred
Stock Dividends (c)................. 1.89 1.25 1.32 (b)
====== ====== ====== ======
(a) Preferred stock dividends have been increased to an amount representing the
pretax earnings which would be required to cover such dividend requirements.
(b) Earnings for the six months ended July 2, 1999 were insufficient to cover
fixed charges and combined fixed charges and preferred stock dividends
by $42 million and $44 million, respectively.
(c) Ratios were calculated prior to rounding to millions.
