Exhibit 12.1
INTEL CORPORATION
STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
(in millions)
| Nine Months Ended | ||||||
| Sept. 27, 2003 |
Sept. 28, 2002 | |||||
| Income before taxes |
$ | 4,862 | $ | 2,857 | ||
| Add fixed charges net of capitalized interest |
77 | 113 | ||||
| Income before taxes and fixed charges (net of capitalized interest) |
$ | 4,939 | $ | 2,970 | ||
| Fixed charges: |
||||||
| Interest |
$ | 44 | $ | 67 | ||
| Capitalized interest |
— | 1 | ||||
| Estimated interest component of rental expense |
33 | 46 | ||||
| Total |
$ | 77 | $ | 114 | ||
| Ratio of earnings before taxes and fixed charges, to fixed charges |
64 | 26 | ||||