Exhibit 12






                             COLGATE-PALMOLIVE COMPANY

                 COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                 -------------------------------------------------

                               (Dollars in Millions)
                                    (Unaudited)



- --------------------------------------------------------------------------------

                                                        Three Months Ended
                                                          March 31, 1996
                                                          --------------

  Income before income taxes                                  $ 222.4

  Add:
  Interest on indebtedness and amortization of debt
    expense and discount or premium                              56.4

  Portion of rents representative of interest
    factor                                                        7.7

  Interest on ESOP debt, net of dividends                         0.5

  Less:
  Income of less than fifty-percent-owned
    subsidiaries                                                 (1.5)
                                                            ---------

  Income as adjusted                                          $ 285.5
                                                              -------

  Fixed Charges:

  Interest on indebtedness and amortization of debt
    expense and discount or premium                           $  56.4

  Portion of rents representative of interest
    factor                                                        7.7

  Interest on ESOP debt, net of dividends                         0.5

  Capitalized interest                                            5.0
                                                             --------

  Total fixed charges                                         $  69.6
                                                              -------

  Ratio of earnings to fixed charges                              4.1
                                                             --------

  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 during the first quarter of 1996 was $8.4.  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.