Exhibit 12

                            COLGATE-PALMOLIVE COMPANY

                COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

                         Dollars in Millions (Unaudited)


                                                        Six Months Ended
                                                          June 30, 1995
                                                          -------------

Income before income taxes                                $  457.6

Add:
Interest on indebtedness and amortization of debt    
  expense and discount or premium                            110.6

Portion of rents representative of interest
  factor                                                      13.9
        

Interest on ESOP debt, net of dividends                        1.0

Less:
Income of less than fifty-percent-owned     
  subsidiaries                                                (1.8)
                                                          --------

Income as adjusted                                        $  581.3
                                                          ========

Fixed Charges:

Interest on indebtedness and amortization of debt    
  expense and discount or premium                         $  110.6

Portion of rents representative of interest          
  factor                                                      13.9

Interest on ESOP debt, net of dividends                        1.0

Capitalized interest                                           5.9
                                                          --------
Total fixed charges                                       $  131.4
                                                          ========

Ratio of earnings to fixed charges                             4.4
                                                          ========



In June 1989, the Company's leveraged employee stock ownership plan (ESOP)
issued $410.0 of long-term notes due through 2009 bearing an average interest
rate of 8.6%. These notes are guaranteed by the Company. Interest incurred on
the ESOP's notes was $17.0. This interest is funded through preferred and common
stock dividends. The fixed charges presented above include interest on ESOP
indebtedness to the extent it is not funded through preferred and common stock
dividends.