Exhibit 12.1
INTEL CORPORATION
STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
                 
    Six Months Ended  
    June 27,
2009		     June 28,
2008		  
Earnings1
   $ 709     $ 4,484  
 
                
Adjustments:
                
Add - Fixed charges
     56       72  
Subtract - Capitalized interest
     (29 )     (38 )
 
            
 
                
Earnings and fixed charges (net of capitalized interest)
   $ 736     $ 4,518  
 
            
 
                
Fixed charges:
                
Interest2
   $ 1     $ 8  
Capitalized interest
     29       38  
Estimated interest component of rental expense
     26       26  
 
            
 
                
Total
   $ 56     $ 72  
 
            
 
                
Ratio of earnings before taxes and fixed charges, to fixed charges
     13       63  
 
1   After adjustments required by Item 503 (d) of the U.S. Securities and Exchange Regulation S-K.
 
2   Interest within provision for taxes on the consolidated condensed statements of operations is not included.