Exhibit 12.1

INTEL CORPORATION

STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
     
 
 
 
Nine Months Ended
(Dollars in Millions)
Sep 28,
2013
 
Sep 29,
2012
 
 
 
 
 
 
 
 
 
 
 
 
Earnings1 
$
9,212

 
$
11,809

Adjustments:
 
 
 
 
Add - Fixed charges
395

 
267

 
Subtract - Capitalized interest
(176
)
 
(171
)
Earnings and fixed charges (net of capitalized interest)
$
9,431

 
$
11,905

 
 
 
 
 
 
Fixed charges:
 
 
 
 
Interest2 
$
189

 
$
66

 
Capitalized interest
176

 
171

 
Estimated interest component of rental expense
30

 
30

Total
$
395

 
$
267

 
 
 
 
 
 
Ratio of earnings before taxes and fixed charges, to fixed charges
24x

 
45x


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.