Exhibit 12.1

INTEL CORPORATION
STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
     
 
 
 
 
Three Months Ended
(Dollars in Millions)
 
Mar 31,
2018
 
Apr 1,
2017
Earnings1 
 
$
5,139

 
$
3,861

Adjustments:
 
 
 
 
 
Add - Fixed charges
 
234

 
223

 
Subtract - Capitalized interest
 
(113
)
 
(67
)
Earnings and fixed charges (net of capitalized interest)
 
$
5,260

 
$
4,017

 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
Interest2 
 
$
112

 
$
146

 
Capitalized interest
 
113

 
67

 
Estimated interest component of rental expense
 
9

 
10

Total
 
$
234

 
$
223

 
 
 
 
 
 
 
Ratio of earnings before taxes and fixed charges, to fixed charges
 
22x

 
18x

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.