Exhibit 12.1

Intel Corporation

Statement Setting Forth the Computation

of Ratios of Earnings to Fixed Charges

(in millions)

 

Three Months Ended


March 31,

April 1

2001

2000



Income before taxes $

906

$

3,194

Add fixed charges net of capitalized interest

28

23



Income before taxes and fixed charges
  (net of capitalized interest)

$


934


$


3,217



Fixed charges:
Interest $

12

$

12

Capitalized interest

1

2

Estimated interest component of rental expense

16

11



Total $

29

$

25



Ratio of Earnings before taxes and fixed
  charges, to fixed charges


32


129