Exhibit 12.1
INTEL CORPORATION
STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
                 
    Six Months Ended  
    June 26,     June 27,  
    2010     2009  
Earnings1
   $ 5,403     $ 709  
 
                
Adjustments:
                
Add — Fixed charges
     95       56  
Subtract — Capitalized interest
     (68 )     (29 )
 
            
 
                
Earnings and fixed charges (net of capitalized interest)
   $ 5,430     $ 736  
 
            
 
                
Fixed charges:
                
Interest2
   $ —     $ 1  
Capitalized interest
     68       29  
Estimated interest component of rental expense
     27       26  
 
            
 
                
Total
   $ 95     $ 56  
 
            
 
                
Ratio of earnings before taxes and fixed charges, to fixed charges
     57       13  
 
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.