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Exhibit 12.1


THE COCA-COLA COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

  Year Ended December 31,    

    2009     2008     2007     2006     2005  
   

(In millions except ratios)

                               

EARNINGS:

                               

Income from continuing operations before income taxes and
changes in accounting principles

    $  8,946     $  7,506     $  7,919     $  6,628     $  6,723  

Fixed charges

    422     513     524     271     281  

Less:

                               

Capitalized interest, net

    (4 )   (7 )   (12 )   (10 )   (3 )

Equity (income) loss, net of dividends

    (359 )   1,128     (452 )   124     (446 )
   

Adjusted earnings

    $  9,005     $  9,140     $  7,979     $  7,013     $  6,555  
   

FIXED CHARGES:

                               

Gross interest incurred

    $     359     $     445     $     468     $     230     $     243  

Interest portion of rent expense

    63     68     56     41     38  
   

Total fixed charges

    $     422     $     513     $     524     $     271     $     281  
   

Ratios of earnings to fixed charges

    21.3     17.8     15.2     25.9     23.3  
   

As of December 31, 2009, the Company was contingently liable for guarantees of indebtedness owed by third parties in the amount of approximately $245 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.




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THE COCA-COLA COMPANY AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES