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Exhibit 12.1

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

    Three Months
Ended
April 3,
  Year Ended December 31,    

    2009     2008     2007     2006     2005     2004  
   

(In millions except ratios)

                                     

EARNINGS:

                                     
 

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

    $  1,815     $  7,506     $  7,942     $  6,628     $  6,723     $  6,238  
 

Fixed charges

    103     513     524     271     281     232  
 

Less:

                                     
   

Capitalized interest, net

    (1 )   (7 )   (12 )   (10 )   (3 )   (1 )
   

Equity (income) loss, net of dividends

    (3 )   1,128     (452 )   124     (446 )   (476 )
   
 

Adjusted earnings

    $  1,914     $  9,140     $  8,002     $  7,013     $  6,555     $  5,993  
   

FIXED CHARGES:

                                     
 

Gross interest incurred

    $       86     $     445     $     468     $     230     $     243     $     197  
 

Interest portion of rent expense

    17     68     56     41     38     35  
   
 

Total fixed charges

    $     103     $     513     $     524     $     271     $     281     $     232  
   
 

Ratios of earnings to fixed charges

    18.6     17.8     15.3     25.9     23.3     25.8  
   

        As of April 3, 2009, the Company was contingently liable for guarantees of indebtedness owed by third parties in the amount of approximately $219 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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