Exhibit 12.1
INTEL CORPORATION
STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
(Dollars in Millions)
                 
    Three Months Ended  
    March 28,
2009		     March 29,
2008		  
Earnings1
   $ 691     $ 2,171  
 
                
Adjustments:
                
Add - Fixed charges
     29       34  
Subtract - Capitalized interest
     (15 )     (19 )
 
            
 
                
Earnings and fixed charges (net of capitalized interest)
   $ 705     $ 2,186  
 
            
 
                
Fixed charges:
                
Interest2
   $ —     $ —  
Capitalized interest
     15       19  
Estimated interest component of rental expense
     14       15  
 
            
 
                
Total
   $ 29     $ 34  
 
            
 
                
Ratio of earnings before taxes and fixed charges, to fixed charges
     24       64  
 
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 statement of income is not included.