Intel (INTC) 10-Q 2004 Q3 Quarterly report

Exhibit 12.1

INTEL CORPORATION

STATEMENT SETTING FORTH THE COMPUTATION

OF RATIOS OF EARNINGS TO FIXED CHARGES

(In Millions)

	Nine Months Ended
	Sept. 25, 2004		Sept. 27, 2003
Income before taxes	$	7,390	$	4,862
Add fixed charges		74		77
Income before taxes and fixed charges	$	7,464	$	4,939
Fixed charges:
Interest	$	46	$	44
Estimated interest component of rental expense		28		33
Total	$	74	$	77
Ratio of earnings before taxes and fixed charges, to fixed charges		101		64

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