EX-12.1 4 a03-1769_1ex121.htm EX-12.1

Exhibit 12.1

 

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

 

(in millions)

 

 

 

Six Months Ended

 

 

 

June 28,
2003

 

June 29,
2002

 

 

 

 

 

 

 

Income before taxes

 

$

2,587

 

$

1,940

 

 

 

 

 

 

 

Add fixed charges net of capitalized interest

 

54

 

78

 

 

 

 

 

 

 

Income before taxes and fixed charges (net of capitalized interest)

 

$

2,641

 

$

2,018

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

Interest

 

$

32

 

$

49

 

Capitalized interest

 

—

 

1

 

Estimated interest component of rental expense

 

22

 

29

 

 

 

 

 

 

 

Total

 

$

54

 

$

79

 

 

 

 

 

 

 

Ratio of earnings before taxes and fixed charges, to fixed charges

 

49

 

26