Intel (INTC) 10-K 2004 FY Annual report

Exhibit 12.1

INTEL CORPORATION 2004 FORM 10-K

STATEMENT SETTING FORTH THE COMPUTATION

OF RATIOS OF EARNINGS TO FIXED CHARGES FOR INTEL CORPORATION

(In Millions, Except Ratios)

	Years Ended
	Dec. 30, 2000		Dec. 29, 2001		Dec. 28, 2002		Dec. 27, 2003		Dec. 25, 2004
Income before taxes	$	15,141	$	2,183	$	4,204	$	7,442	$	10,417
Add—Fixed charges net of capitalized interest		82		125		133		105		98
Income before taxes and fixed charges (net of capitalized interest)	$	15,223	$	2,308	$	4,337	$	7,547	$	10,515
Fixed charges:
Interest	$	35	$	56	$	84	$	62	$	50
Capitalized interest		7		5		1		—		—
Estimated interest component of rental expense		47		69		49		43		48
Total	$	89	$	130	$	134	$	105	$	98
Ratio of earnings before taxes and fixed charges, to fixed charges		171x		18x		32x		72x		107x