Exhibit 12.1
INTEL CORPORATION
STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
                 
    Three Months Ended  
    March 27,     March 28,  
    2010     2009  
Earnings1
   $ 3,495     $ 691  
 
                
Adjustments:
                
Add - Fixed charges
     42       29  
Subtract - Capitalized interest
     (30 )     (15 )
 
            
 
                
Earnings and fixed charges (net of capitalized interest)
   $ 3,507     $ 705  
 
            
 
                
Fixed charges:
                
Interest2
   $ —     $ —  
Capitalized interest
     30       15  
Estimated interest component of rental expense
     12       14  
 
            
 
                
Total
   $ 42     $ 29  
 
            
 
                
Ratio of earnings before taxes and fixed charges, to fixed charges
     84       24  
 
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.