Exhibit 12
                                                                      ----------

                            COLGATE-PALMOLIVE COMPANY
                            -------------------------
                COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                -------------------------------------------------

                         Dollars in Millions (Unaudited)

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



                                                                             Nine Months Ended
                                                                            September 30, 2001
                                                                            ------------------
                                                                         
Income before income taxes                                                      $ 1,256.5

Add:
Interest on indebtedness and amortization of debt expense and
   discount or premium                                                              139.5

Portion of rents representative of interest factor                                   22.7

Interest on ESOP debt, net of dividends                                               1.3

Loss of less than fifty-percent-owned subsidiaries                                    0.3
                                                                                ---------

Income as adjusted                                                              $ 1,420.3
                                                                                =========

Fixed charges:

Interest on indebtedness and amortization of debt expense and
   discount or premium                                                          $   139.5

Portion of rents representative of interest factor                                   22.7

Interest on ESOP debt, net of dividends                                               1.3

Capitalized interest                                                                  3.1
                                                                                ---------

Total fixed charges                                                             $   166.6
                                                                                =========

Ratio of earnings to fixed charges                                                    8.5
                                                                                =========



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 8.7%. These notes are guaranteed by the Company. Interest incurred on
the ESOP's notes for the nine months ended September 30, 2001 was $22.9. 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.

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