Exhibit 12.1
INTEL CORPORATION
STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
                 
    Three Months Ended  
    April 2,     March 27,  
    2011     2010  
Earnings1
  $ 4,453     $ 3,495  
 
Adjustments:
                
   Add — Fixed charges
     65       42  
   Subtract — Capitalized interest
     (44 )     (30 )
 
            
 
                
Earnings and fixed charges (net of capitalized interest)
   $ 4,474     $ 3,507  
 
            
 
                
Fixed charges:
                
   Interest2
  $ 6     $ —  
   Capitalized interest
     44       30  
   Estimated interest component of rental expense
     15       12  
 
            
 
                
Total
   $ 65     $ 42  
 
            
 
                
Ratio of earnings before taxes and fixed charges, to fixed charges
     69 x     84 x 
 
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 income is not included.