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Exhibit 12.1


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

    Six Months
Ended
July 2,
  Year Ended December 31,    

    2010     2009     2008     2007     2006     2005  
   

(In millions except ratios)

                                     

EARNINGS:

                                     

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

    $  5,302     $  8,946     $  7,506     $  7,919     $  6,628     $  6,723  

    Fixed charges

    199     422     513     524     271     281  

    Less:

                                     

        Capitalized interest, net

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

        Equity (income) loss, net of dividends

    (246 )   (359 )   1,128     (452 )   124     (446 )
   

    Adjusted earnings

    $  5,255     $  9,005     $  9,140     $  7,979     $  7,013     $  6,555  
   

FIXED CHARGES:

                                     

    Gross interest incurred

    $     166     $     359     $     445     $     468     $     230     $     243  

    Interest portion of rent expense

    32     63     68     56     41     38  
   

    Total fixed charges

    $     198     $     422     $     513     $     524     $     271     $     281  
   

    Ratios of earnings to fixed charges

    26.5     21.3     17.8     15.2     25.9     23.3  
   

As of July 2, 2010, the Company was contingently liable for guarantees of indebtedness owed by third parties, including certain VIEs, in the amount of approximately $372 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