EXHIBIT 12

COLGATE-PALMOLIVE COMPANY

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND PREFERRED DIVIDENDS

(Dollars in Millions)

(Unaudited)

	Six Months Ended June 30, 2004
Earnings:
Income before income taxes	$	1,058.5
Add:
Interest on indebtedness and amortization of debt expense and discount or premium		59.7
Portion of rents representative of interest factor		18.9
Less:
Gain on equity investments		(2.1	)
Income as adjusted	$	1,135.0
Fixed Charges:
Interest on indebtedness and amortization of debt expense and discount or premium	$	59.7
Portion of rents representative of interest factor		18.9
Capitalized interest		1.0
Total fixed charges	$	79.6
Preferred Dividends:
Dividends on Preference Stock	$	16.6
Ratio of earnings to fixed charges		14.3
Ratio of earnings to fixed charges and preferred dividends		11.8