Exhibit 12.1
INTEL CORPORATION
STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
                 
    Nine Months Ended  
    Sept 29, 2007     Sept 30, 2006  
Income before taxes
  $ 5,905     $ 4,941  
 
               
Adjustments:
               
Add fixed charges
    96       108  
Subtract interest capitalized
    (41 )     (45 )
 
           
 
               
Income before taxes and fixed charges
  $ 5,960     $ 5,004  
 
           
 
               
Fixed charges:
               
Interest1
  $ 12     $ 20  
Capitalized interest
    41       45  
Estimated interest component of rental expense
    43       43  
 
           
 
               
Total
  $ 96     $ 108  
 
           
 
               
Ratio of earnings before taxes and fixed charges, to fixed charges
    62       46  
 
1   Interest within provision for taxes on the consolidated condensed statements of income is not included.