Exhibit 12.1
INTEL CORPORATION

STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
     
 
Years Ended
(Dollars in Millions, Except Ratios)
Dec 28,
2013
 
Dec 29,
2012
 
Dec 31,
2011
 
Dec 25,
2010
 
Dec 26,
2009
Earnings1 
$
12,814

 
$
15,057

 
$
18,068

 
$
16,221

 
$
5,887

Adjustments:
 
 
 
 
 
 
 
 
 
Add - Fixed charges
529

 
362

 
226

 
181

 
136

Subtract - Capitalized interest
(246
)
 
(240
)
 
(150
)
 
(134
)
 
(86
)
Earnings and fixed charges (net of capitalized interest)
$
13,097

 
$
15,179

 
$
18,144

 
$
16,268

 
$
5,937

 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest2 
$
244

 
$
90

 
$
41

 
$
—

 
$
1

Capitalized interest
246

 
240

 
150

 
134

 
86

Estimated interest component of rental expense
39

 
32

 
35

 
47

 
49

Total
$
529

 
$
362

 
$
226

 
$
181

 
$
136

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

25x

 
42x

 
80x

 
90x

 
44x

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