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.