Exhibit 12.1
INTEL CORPORATION
STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES
(in millions)
| Three Months Ended | ||||||
| March 27, 2004 |
March 29, 2003 | |||||
| Income before taxes |
$ | 2,544 | $ | 1,316 | ||
| Add fixed charges |
28 | 25 | ||||
| Income before taxes and fixed charges |
$ | 2,572 | $ | 1,341 | ||
| Fixed charges: |
||||||
| Interest |
$ | 18 | $ | 14 | ||
| Estimated interest component of rental expense |
10 | 11 | ||||
| Total |
$ | 28 | $ | 25 | ||
| Ratio of earnings before taxes and fixed charges, to fixed charges |
92 | 54 | ||||