Intel (INTC) 10-Q 2007 Q3 Quarterly report

Exhibit 12.1

INTEL CORPORATION
STATEMENT SETTING FORTH THE COMPUTATION
OF RATIOS OF EARNINGS TO FIXED CHARGES

(Dollars in Millions)

	Nine Months Ended
	Sept 29,2007			Sept 30,2006
Income before taxes	$	5,905		$	4,941
Adjustments:
Add fixed charges		96			108
Subtract interest capitalized		(41	)		(45	)
Income before taxes and fixed charges	$	5,960		$	5,004
Fixed charges:
Interest1	$	12		$	20
Capitalized interest		41			45
Estimated interest component of rental expense		43			43
Total	$	96		$	108
Ratio of earnings before taxes and fixed charges, to fixed charges		62			46

¹ Interest within provision for taxes on the consolidated condensed statements of income is not included.