EXHIBIT 12.1 INTEL CORPORATION STATEMENT SETTING FORTH THE COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES FOR INTEL CORPORATION (In millions, except ratios) Years Ended ---------------------------------------------------- Dec. 28, Dec. 26, Dec. 25, Dec. 31, Dec. 30, 1991 1992 1993 1994 1995 -------- -------- -------- -------- -------- Income before taxes $1,195 $1,569 $3,530 $3,603 $5,638 Add - Fixed charges net of capitalized interest 98 68 58 66 38 ------ ------ ------ ------ ------ Income before taxes and fixed charges (net of capitalized interest) $1,293 $1,637 $3,588 $3,669 $5,676 ====== ====== ====== ====== ====== Fixed charges: Interest* $ 82 $ 54 $ 50 $ 57 $ 29 Capitalized interest 6 11 8 27 46 Estimated interest component of rental expense 16 14 8 9 9 ------ ------ ------ ------ ------ Total $ 104 $ 79 $ 66 $ 93 $ 84 ====== ====== ====== ====== ====== Ratio of earnings before taxes and fixed charges, to fixed charges 12.4x 20.7x 54.4x 39.5x 67.6x
* Interest expense includes the amortization of underwriting fees for the relevant periods outstanding.