Exhibit 12.1

INTEL CORPORATION

STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
     
 
 
 
Three Months Ended
(Dollars in Millions, Except Ratios)
Mar 30,
2013
 
Mar 31,
2012
 
 
 
 
 
 
 
 
 
 
 
 
Earnings1 
$
2,496

 
$
3,856

Adjustments:
 
 
 
 
Add - Fixed charges
137

 
91

 
Subtract - Capitalized interest
(54
)
 
(50
)
Earnings and fixed charges (net of capitalized interest)
$
2,579

 
$
3,897

 
 
 
 
 
 
Fixed charges:
 
 
 
 
Interest2 
$
73

 
$
31

 
Capitalized interest
54

 
50

 
Estimated interest component of rental expense
10

 
10

Total
$
137

 
$
91

 
 
 
 
 
 
Ratio of earnings before taxes and fixed charges, to fixed charges
19x

 
43x


1 After adjustments required by Item 503(d) of Regulation S-K.
2 Interest within provision for taxes on the consolidated condensed statements of income is not included.