[Verse 1: James Taylor, Natalie Cole, Both]
I really can't stay
Baby, it's cold outside
I've got to go away
Oh darling, it's cold outside
This evening has been
Just hoping that you'd drop in
So very nice
I'll hold your hands, they're just like ice
My mother will start to worry
Beautiful, what's your hurry?
My father will be pacing the floor
Listen to that fireplace roar
So really I'd better scurry
Oh beautiful, please don't hurry
Well, maybe just a half a drink more
Why don't you put some music on while I pour
The neighbors will think
Baby, it's bad out there
Say, what's in this drink?
There's no cabs to be had out there
I wish I knew how
Your eyes are like starlight now
To break this spell
I'll take your hat, your hair looks swell
I ought to say no, sir
Mind if I move in a little closer?
At least I'm going to say that I tried
Oh, what's the sense in hurting my pride?
I really can't stay
Baby, don't hold out
Ah, but it's cold outside
[Interlude: James Taylor, Natalie Cole]
What are you doing with your coat?
You don't need your coat
What are you putting your coat on for?
It's warm in here
You don't understand

[Verse 2: James Taylor, Natalie Cole, Both]
I simply must go
Baby, it's cold outside
Oh, the answer is no
Oh darling, it's cold outside
This welcome has been
I'm lucky that you dropped in
So nice and warm
Look out the window at that storm
My sister will be suspicious
Please but your lips look so delicious
My brother will be there at the door
Waves upon a tropical shore
My maiden aunt's mind is vicious
Oh but your lips look delicious
Well, maybe just a half a drink more
There was never such a blizzard before
Ooh, I got to go home
Baby, you'll freeze out there
Say, lend me your coat
It's up to your knees out there
You've really been grand
I thrill when you touch my hand
But don't you see
How can you do this thing to me?
There's bound to be talk tomorrow
Think of my lifelong sorrow
At least there will be plenty implied
If you caught pneumonia and died
I really can't stay
Get over that old out
Ah, but it's cold outside
Ah, but it's cold outside
[Bridge: James Taylor, Natalie Cole, Both]
Baby, it's cold outside
Baby, it's cold outside
It's cold outside
It's cold
Baby, it's cold outside
You know that it's, you know that it's cold outside
Ah, it's cold outside

[Interlude: James Taylor, Natalie Cole, Both]
Darling, as a friend
Sure, James
As a friend you, you must stay and, and warm up by this fire little bit
Let me get you, let me get you a hot toddy or something
Well, I really can't, I mean, my mother will worry about me
People are so suspicious, it's just an innocent suggesting
You stay warm and keep yourself healthy that's all
It's nippy out there, it's cold
Oh, you know that drink does look kinda nice
It is a perfectly nice drink

[Outro: James Taylor, Natalie Cole, Both]
Baby, it's cold out; baby, it's cold
It's warm in here
Baby, it's cold out
Baby, it's cold outside