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, ---------------------------------------------------------------------------- 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.