Exhibit 12.1

INTEL CORPORATION

STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
     
 
 
 
Six Months Ended
(Dollars in Millions, Except Ratios)
Jun 29,
2013
 
Jun 30,
2012
 
 
 
 
 
 
 
 
 
 
 
 
Earnings1 
$
5,239

 
$
7,831

Adjustments:
 
 
 
 
Add - Fixed charges
274

 
180

 
Subtract - Capitalized interest
(121
)
 
(109
)
Earnings and fixed charges (net of capitalized interest)
$
5,392

 
$
7,902

 
 
 
 
 
 
Fixed charges:
 
 
 
 
Interest2 
$
133

 
$
52

 
Capitalized interest
121

 
109

 
Estimated interest component of rental expense
20

 
19

Total
$
274

 
$
180

 
 
 
 
 
 
Ratio of earnings before taxes and fixed charges, to fixed charges
20x

 
44x


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.