The Coca-Cola Company (KO) 10-Q2004 Q2 Quarterly report

Filed: 5 Aug 04, 12:00am

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New words: abuse, added, Alexander, Allan, allegedly, antifraud, atypical, Bennett, breach, breached, brought, Carpenter, CCE, channel, Chestnut, Chuck, claim, Cleaver, Committee, complained, corruption, customer, damaged, data, declaratory, deem, deemed, defendant, defense, denied, departure, discovery, dismissed, disposition, earlier, Egypt, enriching, equitable, eventual, exceeding, excessive, experiencing, Export, extraordinary, fact, failed, fiduciary, Finan, forfeit, format, frame, Fruit, Fulton, Gaetan, half, Hall, hard, Heyer, Holding, identical, Indonesia, Indonesian, injunctive, Irial, Isdell, Ivester, Jack, Kenya, King, knowingly, LaValla, leave, legislation, Lyonnaise, Matthew, Michael, misleading, misleadingly, mismanagement, misrepresented, motion, Neville, Nigeria, Nominal, noncash, nonmonetary, NumberItem, outcome, outlined, partner, phase, Philadelphia, poor, prejudice, proper, protect, provision, purported, Reconsideration, relief, repeated, replead, request, resolution, reversal, security, sense, shareholder, slower, sought, Stahl, stated, stay, stayed, Steven, subsidiary, suit, Superior, surrendered, Susan, swap, tailored, test, uncertainty, undiscounted, unexpected, unjustly, unneeded, unusual, unwanted, upcoming, vesting, Vicinity, voluntarily, waste, Welfare, Whitley, withheld, write

Removed: carbonated, CBC, deconsolidated, deconsolidation, delisting, established, February, option, require, slight, term, transition, translation

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EXHIBIT 12

THE COCA-COLA COMPANY AND SUBSIDIARIES

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

			Six Months Ended June 30,		Year Ended December 31,
			2004			2003			2002			2001			2000			1999

EARNINGS:
	Income before income taxes and changes in accounting principles		$ 3,565		$	5,495		$	5,499		$	5,670		$	3,399		$	3,819
	Fixed charges		112			220			236			327			489			386
	Adjustments:
		Capitalized interest, net	—			(1	)		(1	)		(8	)		(11	)		(18	)
		Equity income or loss, net of dividends	(225	)		(294	)		(256	)		(54	)		380			292

	Adjusted earnings		$ 3,452		$	5,420		$	5,478		$	5,935		$	4,257		$	4,479

FIXED CHARGES:
	Gross interest incurred		$ 91		$	179		$	200		$	297		$	458		$	355
	Interest portion of rent expense		21			41			36			30			31			31

	Total fixed charges		$ 112		$	220		$	236		$	327		$	489		$	386

	Ratios of earnings to fixed charges		30.8			24.6			23.2			18.1			8.7			11.6

At June 30, 2004, our Company is contingently liable for guarantees of indebtedness owed by third parties in the amount of $316 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.

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EXHIBIT 12

THE COCA-COLA COMPANY AND SUBSIDIARIES COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (In millions except ratios)