Exhibit 12


                     THE COCA-COLA COMPANY AND SUBSIDIARIES

               COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
                          (In millions except ratios)

                             Three Months
                                Ended                                 Year Ended December 31,
                              March 31,         ----------------------------------------------------------------
                                 2002              2001           2000           1999          1998         1997
                             --------           ---------    ---------     ----------     ---------   ----------
                                                                                     
EARNINGS:

 Income before income
  taxes and changes in
  accounting principles      $  1,151         $   5,670      $   3,399      $   3,819     $   5,198     $  6,055




 Fixed charges                     56              327            489            386            320          300

 Adjustments:
  Capitalized
   interest, net                   -                (8)           (11)           (18)           (17)         (17)

  Equity income or loss,
   net of dividends               (57)             (54)           380            292             31         (108)
                             --------         --------       --------       --------      ---------     --------

 Adjusted earnings           $  1,150         $  5,935       $  4,257       $  4,479      $   5,532     $  6,230
                             ========         ========       ========       ========      =========     ========

FIXED CHARGES:

 Gross interest
  incurred                   $     48         $    297       $    458       $    355      $     294     $   275

 Interest portion of
  rent expense                      8               30             31             31             26          25
                             --------         --------       --------       --------      ---------     -------

Total fixed charges          $     56         $    327       $    489       $    386      $     320     $   300
                             ========         ========       ========       ========      =========     =======
 Ratios of earnings
  to fixed charges               20.5             18.1            8.7           11.6           17.3        20.8
                             ========         ========       ========       ========      =========     =======

   At March 31, 2002, our Company is contingently liable for guarantees of
indebtedness owed by third parties in the amount of $425 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.