Exhibit 12.1
INTEL CORPORATION
STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
                 
    Six Months Ended  
    July 2,     June 26,  
    2011     2010  
Earnings1
   $ 8,470     $ 7,704  
 
                
Adjustments:
                
Add — Fixed charges
     121       95  
Subtract — Capitalized interest
     (83 )     (68 )
 
            
 
                
Earnings and fixed charges (net of capitalized interest)
   $ 8,508     $ 7,731  
 
            
 
                
Fixed charges:
                
Interest2
   $ 6     $ —  
Capitalized interest
     83       68  
Estimated interest component of rental expense
     32       27  
 
            
 
                
Total
   $ 121     $ 95  
 
            
 
                
Ratio of earnings before taxes and fixed charges, to fixed charges
     70 x     81 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.