Exhibit 12
THE COCA-COLA COMPANY AND SUBSIDIARIES
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
(In millions except ratios)
Nine Months
Ended
September 30, Year Ended December 31,
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2000 1999 1998 1997 1996 1995
---- ---- ---- ---- ---- ----
Earnings:
Income before income
taxes and changes in
accounting principles $ 2,922 $ 3,819 $ 5,198 $ 6,055 $ 4,596 $ 4,328
Fixed charges 371 386 320 300 324 318
Adjustments:
Capitalized
interest, net (9) (18) (17) (17) (7) (9)
Equity income or loss,
net of dividends 28 292 31 (108) (89) (25)
--------- --------- --------- --------- --------- ---------
Adjusted earnings $ 3,312 $ 4,479 $ 5,532 $ 6,230 $ 4,824 $ 4,612
========= ========= ========= ========= ========= =========
Fixed Charges:
Gross interest
incurred $ 347 $ 355 $ 294 $ 275 $ 293 $ 281
Interest portion of
rent expense 24 31 26 25 31 37
--------- --------- --------- --------- --------- ---------
Total fixed charges $ 371 $ 386 $ 320 $ 300 $ 324 $ 318
========== ========= ========= ========= ========= =========
Ratios of earnings
to fixed charges 8.9 11.6 17.3 20.8 14.9 14.5
========== ========= ========= ========= ========= =========
[FN]
At September 30, 2000, our Company was contingently liable for guarantees
of indebtedness owed by third parties in the amount of $380 million. Fixed
charges for these contingent liabilities have not been included in the
computations of the above ratios as the amounts are immaterial and, in the
opinion of Management, it is not probable that our Company will be required to
satisfy the guarantees.