Exhibit 12.1

Intel Corporation

Statement Setting Forth the Computation

of Ratios of Earnings to Fixed Charges

(in millions)

 

Six Months Ended


June 30,

July 1,

2001

2000



Income before taxes $

1,252

$

7,943

Add fixed charges net of capitalized interest

57

44



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

$


1,309


$


7,987



Fixed charges:
Interest $

25

$

21

Capitalized interest

3

4

Estimated interest component of rental expense

32

23



Total $

60

$

48



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


22


166