RECONCILIATION BETWEEN GAAP AND NON-GAAP FINANCIAL MEASURES

EXHIBIT 99-2

[TABLE #1 - 1 OF 3 PAGES]
- --------------------------------------------------------------------------------
The Company reports its financial results in accordance with generally accepted
accounting principles (GAAP). However, management believes that certain non-GAAP
performance measures and ratios, used in managing the business, may provide
users of this financial information additional meaningful comparisons between
current results and results in prior operating periods. See the Table below for
supplemental financial data and corresponding reconciliations to GAAP financial
measures for the three months ended June 30, 2003, and June 30, 2002.
Non-GAAP financial measures should be viewed in addition to, and not as an
alternative for, the Company's reported results prepared in accordance with
GAAP.
- --------------------------------------------------------------------------------

[THIS TABLE CONSISTS OF 3 SETS OF COLUMNS.
THE FOLLOWING IS SET 1 OF 3 SETS OF COLUMNS]


THE COCA-COLA COMPANY AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP Financial Measures

Second Quarter
(UNAUDITED)
(In Millions, except per share data and margins)

- ------------------------------------------------------------------------------------------------------------------------------------
Three Months Ended June 30, 2003
-------------------------------------------------------------------------
Items Impacting
Results After
----------------- Considering
Reported Charges Items
(GAAP) Related to (Non-GAAP)
Streamlining
Initiatives
-------------------------------------------------------

NET OPERATING REVENUES $ 5,691 $ 5,691

Cost of goods sold 2,113 2,113
-------------------------------------------------------
GROSS PROFIT 3,578 3,578

Selling, general and administrative expenses
(includes $105 in 2003 and $92 in 2002 related
to the impact of the adoption of the fair value method
of accounting for stock-based compensation) 1,906 1,906

Other operating charges 70 $ (70) -
-------------------------------------------------------
OPERATING INCOME 1,602 70 1,672

Interest income 45 45

Interest expense 43 43

Equity income 190 190

Other income (loss) - net (44) (44)
-------------------------------------------------------

INCOME BEFORE INCOME TAXES 1,750 70 1,820

Income Taxes 388 27 415
-------------------------------------------------------
NET INCOME $ 1,362 $ 43 $ 1,405
=======================================================

DILUTED NET INCOME PER SHARE $ 0.55 $ 0.02 $ 0.57
=======================================================

AVERAGE SHARES OUTSTANDING - DILUTED 2,466 2,466 2,466
=======================================================

GROSS MARGIN 62.9% 62.9%
OPERATING MARGIN 28.1% 29.4%
EFFECTIVE TAX RATE 22.2% 22.8%
-------------------------------------------------------

Note: Items to consider for comparability include primarily charges, gains, and
accounting changes. Charges and accounting gains negatively impacting net income
are reflected as add-backs to reported net income. Gains and accounting changes
positively impacting net income are reflected as deductions to reported net
income.



[TABLE #1 - 2 OF 3 PAGES]

- --------------------------------------------------------------------------------
The Company reports its financial results in accordance with generally accepted
accounting principles (GAAP). However, management believes that certain non-GAAP
performance measures and ratios, used in managing the business, may provide
users of this financial information additional meaningful comparisons between
current results and results in prior operating periods. See the Table below for
supplemental financial data and corresponding reconciliations to GAAP financial
measures for the three months ended June 30, 2003, and June 30, 2002.
Non-GAAP financial measures should be viewed in addition to, and not as an
alternative for, the Company's reported results prepared in accordance with
GAAP.
- --------------------------------------------------------------------------------


[THIS TABLE CONSISTS OF 3 SETS OF COLUMNS.
THE FOLLOWING IS SET 2 OF 3 SETS OF COLUMNS]


THE COCA-COLA COMPANY AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP Financial Measures

Second Quarter
(UNAUDITED)
(In Millions, except per share data and margins)

- ------------------------------------------------------------------------------------------------------------------------------------
Three Months Ended June 30, 2002
-------------------------------------------------------------------------
After
Considering
Reported Items Impacting Items
(GAAP) Results (Non-GAAP)

-------------------------------------------------------

NET OPERATING REVENUES $ 5,368 $ 5,368

Cost of goods sold 1,927 1,927
-------------------------------------------------------
GROSS PROFIT 3,441 3,441

Selling, general and administrative expenses
(includes $105 in 2003 and $92 in 2002 related
to the impact of the adoption of the fair value method
of accounting for stock-based compensation) 1,881 1,881

Other operating charges - -
-------------------------------------------------------
OPERATING INCOME 1,560 1,560

Interest income 52 52

Interest expense 58 58

Equity income 176 176

Other income (loss) - net (55) (55)
-------------------------------------------------------

INCOME BEFORE INCOME TAXES 1,675 1,675

Income Taxes 452 452
-------------------------------------------------------
NET INCOME $ 1,223 $ 1,223
=======================================================

DILUTED NET INCOME PER SHARE $ 0.49 $ 0.49
=======================================================

AVERAGE SHARES OUTSTANDING - DILUTED 2,487 2,487
=======================================================

GROSS MARGIN 64.1% 64.1%
OPERATING MARGIN 29.1% 29.1%
EFFECTIVE TAX RATE 27.0% 27.0%
-------------------------------------------------------

Note: Items to consider for comparability include primarily charges, gains, and
accounting changes. Charges and accounting gains negatively impacting net income
are reflected as add-backs to reported net income. Gains and accounting changes
positively impacting net income are reflected as deductions to reported net
income.




[TABLE #1 - 3 OF 3 PAGES]

- --------------------------------------------------------------------------------
The Company reports its financial results in accordance with generally accepted
accounting principles (GAAP). However, management believes that certain non-GAAP
performance measures and ratios, used in managing the business, may provide
users of this financial information additional meaningful comparisons between
current results and results in prior operating periods. See the Table below for
supplemental financial data and corresponding reconciliations to GAAP financial
measures for the three months ended June 30, 2003, and June 30, 2002.
Non-GAAP financial measures should be viewed in addition to, and not as an
alternative for, the Company's reported results prepared in accordance with
GAAP.
- --------------------------------------------------------------------------------


[THIS TABLE CONSISTS OF 3 SETS OF COLUMNS.
THE FOLLOWING IS SET 3 OF 3 SETS OF COLUMNS]



THE COCA-COLA COMPANY AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP Financial Measures

Second Quarter
(UNAUDITED)
(In Millions, except per share data and margins)

- ------------------------------------------------------------------------------------------------------------------------------------
% Change -
% Change - After
Reported Considering
(GAAP) Items
(Non-GAAP)
--------------------------------------------

NET OPERATING REVENUES 6% 6%

Cost of goods sold 10% 10%

GROSS PROFIT 4% 4%

Selling, general and administrative expenses
(includes $105 in 2003 and $92 in 2002 related
to the impact of the adoption of the fair value method
of accounting for stock-based compensation) 1% 1%

Other operating charges -- --

OPERATING INCOME 3% 7%

Interest income -13% -13%

Interest expense -26% -26%

Equity income 8% 8%

Other income (loss) - net -- --


INCOME BEFORE INCOME TAXES 4% 9%

Income Taxes -14% -8%

NET INCOME 11% 15%


DILUTED NET INCOME PER SHARE 12% 16%


AVERAGE SHARES OUTSTANDING - DILUTED -1% -1%

Note: Items to consider for comparability include primarily charges, gains, and
accounting changes. Charges and accounting gains negatively impacting net income
are reflected as add-backs to reported net income. Gains and accounting changes
positively impacting net income are reflected as deductions to reported net
income.




[TABLE #2 - 1 OF 3 PAGES]

- --------------------------------------------------------------------------------
The Company reports its financial results in accordance with generally accepted
accounting principles (GAAP). However, management believes that certain non-GAAP
performance measures and ratios, used in managing the business, may provide
users of this financial information additional meaningful comparisons between
current results and results in prior operating periods. See the Table below for
supplemental financial data and corresponding reconciliations to GAAP financial
measures for the six months ended June 30, 2003, and June 30, 2002.
Non-GAAP financial measures should be viewed in addition to, and not as an
alternative for, the Company's reported results prepared in accordance with
GAAP.
- --------------------------------------------------------------------------------

[THIS TABLE CONSISTS OF 3 SETS OF COLUMNS.
THE FOLLOWING IS SET 1 OF 3 SETS OF COLUMNS]


THE COCA-COLA COMPANY AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP Financial Measures

June Year-to-Date
(UNAUDITED)
(In Millions, except per share data and margins)

- ------------------------------------------------------------------------------------------------------------------------------------
Six Months Ended June 30, 2003
-------------------------------------------------------------------------
Items Impacting
Results
-------------------------- After
Reported Charges Considering
(GAAP) Related to Gain on Items
Streamlining Vitamin (Non-GAAP)
Initiatives Settlement
----------------------------------------------------------------

NET OPERATING REVENUES $ 10,189 $ 10,189

Cost of goods sold 3,715 $ 52 3,767
----------------------------------------------------------------
GROSS PROFIT 6,474 (52) 6,422

Selling, general and administrative expenses
(includes $219 in 2003 and $187 in 2002 related
to the impact of the adoption of the fair value method
of accounting for stock-based compensation) 3,567 3,567

Other operating charges 229 $ (229) -
----------------------------------------------------------------
OPERATING INCOME 2,678 229 (52) 2,855

Interest income 101 101

Interest expense 88 88

Equity income 239 239

Other income (loss) - net (57) (57)
----------------------------------------------------------------

INCOME BEFORE INCOME TAXES AND CUMULATIVE
EFFECT OF ACCOUNTING CHANGE 2,873 229 (52) 3,050

Income Taxes 676 83 (18) 741
----------------------------------------------------------------
NET INCOME BEFORE CUMULATIVE EFFECT OF
ACCOUNTING CHANGE 2,197 146 (34) 2,309

Cumulative effect of accounting change, net of
income taxes
SFAS No. 142: Company Operations
Equity Investees

----------------------------------------------------------------
NET INCOME $ 2,197 $ 146 $ (34) $ 2,309
================================================================

DILUTED NET INCOME PER SHARE BEFORE
CUMULATIVE EFFECT $ 0.89 $ 0.06 $ (0.01) $ 0.94
================================================================
DILUTED NET INCOME PER SHARE $ 0.89 $ 0.06 $ (0.01) $ 0.94
================================================================

AVERAGE SHARES OUTSTANDING - DILUTED 2,469 2,469 2,469 2,469
================================================================

GROSS MARGIN 63.5% 63.0%
OPERATING MARGIN 26.3% 28.0%
EFFECTIVE TAX RATE 23.5% 24.3%
--------------------------------------------------------------------

Note: Items to consider for comparability include primarily charges, gains, and
accounting changes. Charges and accounting gains negatively impacting net income
are reflected as add-backs to reported net income. Gains and accounting changes
positively impacting net income are reflected as deductions to reported net
income.
- ---------
*Sum of items does not foot across due to rounding.


[TABLE #2 - 2 OF 3 PAGES]

- --------------------------------------------------------------------------------
The Company reports its financial results in accordance with generally accepted
accounting principles (GAAP). However, management believes that certain non-GAAP
performance measures and ratios, used in managing the business, may provide
users of this financial information additional meaningful comparisons between
current results and results in prior operating periods. See the Table below for
supplemental financial data and corresponding reconciliations to GAAP financial
measures for the six months ended June 30, 2003, and June 30, 2002.
Non-GAAP financial measures should be viewed in addition to, and not as an
alternative for, the Company's reported results prepared in accordance with
GAAP.
- --------------------------------------------------------------------------------

[THIS TABLE CONSISTS OF 3 SETS OF COLUMNS.
THE FOLLOWING IS SET 2 OF 3 SETS OF COLUMNS]


THE COCA-COLA COMPANY AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP Financial Measures

June Year-to-Date
(UNAUDITED)
(In Millions, except per share data and margins)

- -----------------------------------------------------------------------------------------------------------------------------------
Six Months Ended June 30, 2002
------------------------------------------------------------------------

Items Impacting Results
------------------------------------------- After
Reported Charge Primarily Considering
(GAAP) SFAS 142 Related to Items
Accounting Gain on Sale Investments Latin (Non-GAAP)
Change of Kaiser America
------------------------------------------------------------------------

NET OPERATING REVENUES $ 9,447 $ 9,447

Cost of goods sold 3,321 3,321
------------------------------------------------------------------------
GROSS PROFIT 6,126 6,126

Selling, general and administrative expenses
(includes $219 in 2003 and $187 in 2002 related
to the impact of the adoption of the fair value method
of accounting for stock-based compensation) 3,408 3,408

Other operating charges - -
------------------------------------------------------------------------
OPERATING INCOME 2,718 2,718

Interest income 110 110

Interest expense 104 104

Equity income 237 $ (28) 209

Other income (loss) - net (230) (23) $ 157 (96)
------------------------------------------------------------------------

INCOME BEFORE INCOME TAXES AND CUMULATIVE
EFFECT OF ACCOUNTING CHANGE 2,731 (51) 157 2,837

Income Taxes 776 (17) 7 766
------------------------------------------------------------------------
NET INCOME BEFORE CUMULATIVE EFFECT OF
ACCOUNTING CHANGE 1,955 (34) 150 2,071

Cumulative effect of accounting change, net of
income taxes
SFAS No. 142: Company Operations (367) $ 367 -
Equity Investees (559) 559 -

------------------------------------------------------------------------
NET INCOME $ 1,029 $ 926 $ (34) $ 150 $ 2,071
========================================================================

DILUTED NET INCOME PER SHARE BEFORE
CUMULATIVE EFFECT $ 0.79 $ - $ (0.01) $ 0.06 $ 0.83*
========================================================================
DILUTED NET INCOME PER SHARE $ 0.41 $ 0.37 $ (0.01) $ 0.06 $ 0.83
========================================================================

AVERAGE SHARES OUTSTANDING - DILUTED 2,486 2,486 2,486 2,486 2,486
========================================================================

GROSS MARGIN 64.8% 64.8%
OPERATING MARGIN 28.8% 28.8%
EFFECTIVE TAX RATE 28.4% 27.0%
----------------------------------------------------------------------------

Note: Items to consider for comparability include primarily charges, gains, and
accounting changes. Charges and accounting gains negatively impacting net income
are reflected as add-backs to reported net income. Gains and accounting changes
positively impacting net income are reflected as deductions to reported net
income.

- ---------
*Sum of items does not foot across due to rounding.


[TABLE #2 - 3 OF 3 PAGES

- --------------------------------------------------------------------------------
The Company reports its financial results in accordance with generally accepted
accounting principles (GAAP). However, management believes that certain non-GAAP
performance measures and ratios, used in managing the business, may provide
users of this financial information additional meaningful comparisons between
current results and results in prior operating periods. See the Table below for
supplemental financial data and corresponding reconciliations to GAAP financial
measures for the three months ended June 30, 2003, and June 30, 2002.
Non-GAAP financial measures should be viewed in addition to, and not as an
alternative for, the Company's reported results prepared in accordance with
GAAP.
- --------------------------------------------------------------------------------

[THIS TABLE CONSISTS OF 3 SETS OF COLUMNS.
THE FOLLOWING IS SET 3 OF 3 SETS OF COLUMNS]


THE COCA-COLA COMPANY AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP Financial Measures

June Year-to-Date
(UNAUDITED)
(In Millions, except per share data and margins)

- ---------------------------------------------------------------------------------------------------
% Change -
% Change - After
Reported Considering
(GAAP) Items
(Non-GAAP)
----------------------------------------

NET OPERATING REVENUES 8% 8%

Cost of goods sold 12% 13%

GROSS PROFIT 6% 5%

Selling, general and administrative expenses
(includes $219 in 2003 and $187 in 2002 related
to the impact of the adoption of the fair value method
of accounting for stock-based compensation) 5% 5%

Other operating charges -- --

OPERATING INCOME -1% 5%

Interest income -8% -8%

Interest expense -15% -15%

Equity income 1% 14%

Other income (loss) - net -- --

INCOME BEFORE INCOME TAXES AND CUMULATIVE
EFFECT OF ACCOUNTING CHANGE 5% 8%

Income Taxes -13% -3%

NET INCOME BEFORE CUMULATIVE EFFECT OF
ACCOUNTING CHANGE 12% 11%

Cumulative effect of accounting change, net of
income taxes
SFAS No. 142: Company Operations -- --
Equity Investees -- --

NET INCOME 114% 11%


DILUTED NET INCOME PER SHARE BEFORE
CUMULATIVE EFFECT 13% 13%

DILUTED NET INCOME PER SHARE 117% 13%

AVERAGE SHARES OUTSTANDING - DILUTED -1% -1%

Note: Items to consider for comparability include primarily charges, gains, and
accounting changes. Charges and accounting gains negatively impacting net income
are reflected as add-backs to reported net income. Gains and accounting changes
positively impacting net income are reflected as deductions to reported net
income.

- ---------
*Sum of items does not foot across due to rounding.



[TABLE 3 - 1 OF 1 PAGE


- --------------------------------------------------------------------------------
The Company reports its financial results in accordance with generally accepted
accounting principles (GAAP). However, management believes that certain
non-GAAP performance measures and ratios, used in managing the business, may
provide users of this financial information additional meaningful comparisons
between current results and results in prior operating periods. See the Table
below for supplemental financial data and corresponding reconciliations to GAAP
financial measures for the second quarter and June year to date for 2002 and
2003. Non-GAAP financial measures should be viewed in addition to, and not as
an alternative for, the Company's reported results prepared in accordance with
GAAP.
- --------------------------------------------------------------------------------

THE COCA-COLA COMPANY AND SUBSIDIARIES
Reconciliation of GAAP to Non-GAAP Financial Measures

Second Quarter and June Year-to-Date
(UNAUDITED)
Operating Income
(In Millions)

Three Months Ended June 30 Six Months Ended June 30
----------------------------------------------------------------------
2003 2002 % Change 2003 2002 % Change
----------------------------------------------------------------------

REPORTED OPERATING INCOME (GAAP) 1,602 1,560 3% 2,678 2,718 -1%

Gain on Vitamin Settlement (52)

Charges Related to Streamlining Initiatives 70 229

Increased Stock-Based Compensation Expense (2003 vs. 2002) 13 32
----------------------------------------------------------------------
Operating Income After Considering Items Impacting
Comparability 1,685 1,560 8% 2,887 2,718 6%
======================================================================

NOTE: Items to consider for comparability include primarily charges, gains, and
accounting changes. Charges and accounting gains negatively impacting operating
income are reflected as add-backs to reported operating income. Gains and
accounting changes positively impacting operating income are reflected as
deductions to reported operating income.





June Year-to-Date
(UNAUDITED)
Cash From Operations
(In Millions)

----------------------------------
Six Months Ended June 30
----------------------------------
2003 2002 % Change
----------------------------------

REPORTED NET CASH PROVIDED BY OPERATING ACTIVITIES (GAAP) 2,130 2,156 -1%

Collection of Tax Receivable in Connection with an Advance Pricing
Agreement Reached Between the United States and Japan (279)
----------------------------------

NET CASH PROVIDED BY OPERATING ACTIVITIES EXCLUDING JAPAN TAX
SETTLEMENT 2,130 1,877 13%
==================================

NOTE: Items to consider for comparability include the collection of the tax
receivable in connection with an Advance Pricing Agreement reached between the
United States and Japan.