Exhibit 12.1
INTEL CORPORATION
STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
                 
    Six Months Ended  
    July 1, 2006     July 2, 2005  
 
              
Income before taxes
   $ 3,127     $ 5,905
Adjustments:
              
Add fixed charges
     74       33
Subtract interest capitalized
     (32 )     —
 
          
Income before taxes and fixed charges
   $ 3,169     $ 5,938
 
          
 
              
Fixed charges:
              
Interest
   $ 14     $ 7
Capitalized interest
     32       —
Estimated interest component of rental expense
     28       26
 
          
Total
   $ 74     $ 33
 
          
 
              
Ratio of earnings before taxes and fixed charges, to fixed charges
     43       180