Intel (INTC) 10-Q 2001 Q2 Quarterly report

Exhibit 12.1

Intel Corporation

Statement Setting Forth the Computation

of Ratios of Earnings to Fixed Charges

(in millions)

Six Months Ended

June 30,	July 1,
2001	2000

Income before taxes	$	1,252	$	7,943
Add fixed charges net of capitalized interest		57		44
Income before taxes and fixed charges   (net of capitalized interest)	$	1,309	$	7,987
Fixed charges:
Interest	$	25	$	21
Capitalized interest		3		4
Estimated interest component of rental expense		32		23
Total	$	60	$	48
Ration of Earnings before taxes and fixed   charges, to fixed charges		22		166