Exhibit 12.1

THE COCA-COLA COMPANY AND SUBSIDIARIES

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

	Year Ended December 31,
	2012			2011			2010			2009			2008
(In millions except ratios)				As Adjusted1
EARNINGS:
Income from continuing operations before income taxes and changes in accounting principles	$	11,809		$	11,458		$	14,207		$	8,902		$	7,525
Fixed charges	486			505			792			422			513
Less:
Capitalized interest, net	(1		)	(1		)	(1		)	(4		)	(7		)
Equity (income) loss - net of dividends	(426		)	(269		)	(671		)	(359		)	1,128
Adjusted earnings	$	11,868		$	11,693		$	14,327		$	8,961		$	9,159
FIXED CHARGES:
Gross interest incurred	$	398		$	418		$	734		$	359		$	445
Interest portion of rent expense	88			87			58			63			68
Total fixed charges	$	486		$	505		$	792		$	422		$	513
Ratios of earnings to fixed charges	24.4			23.2			18.1			21.2			17.9

1	Effective January 1, 2012, the Company elected to change our accounting methodology for determining the market-related value of assets for our U.S. qualified defined benefit pension plans. The Company's change in accounting methodology has been applied retrospectively, and we have adjusted all prior period financial information presented herein as required.

As of December 31, 2012, the Company was contingently liable for guarantees of indebtedness owed by third parties, including certain variable interest entities, in the amount of $671 million. Fixed charges for these contingent liabilities have not been included in the computation of the above ratios, as the amounts are immaterial and, in the opinion of management, it is not probable that the Company will be required to satisfy the guarantees. The interest amount in the above table does not include interest expense associated with unrecognized tax benefits.