**Exhibit12**

**John Deere CapitalCorporation and SubsidiariesComputation of Ratio of Earnings to Fixed Charges(thousands of dollars)**
| ** **                                            | ** ** | **Nine Months Ended  July 31,** | ** ** | **For the Years Ended October 31,** | ** ** |
|-------------------------------------------------------|------------|------------------------------------------------|------------|--------------------------------------------------------------|------------|
| ** **                                            | ** ** | **2006**                                       | ** ** | **2005**                                                     | ** ** | **2005** | ** ** | **2004** | ** ** | **2003** | ** ** | **2002** | ** ** | **2001** | ** ** |
| Earnings:                                             |       |                                           |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Income before  income taxes and changes in accounting |       | $                                              | 333,013    |                                                         | $          | 316,456 |   | $ | 424,850 |   | $ | 410,621 |   | $ | 427,940 |   | $ | 370,972 |   | $ | 245,662 |   |
| Fixed charges                                         |       | 524,785                                        |       | 333,769                                                      |       | 480,077 |   | 334,521 |   | 367,223 |   | 382,547 |   | 459,348 |   |
| Total earnings                                        |       | $                                              | 857,798    |                                                         | $          | 650,225 |   | $ | 904,927 |   | $ | 745,142 |   | $ | 795,163 |   | $ | 753,519 |   | $ | 705,010 |   |
|                                                  |       |                                           |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Fixed charges:                                        |       |                                           |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                      |       | $                                              | 520,442    |                                                         | $          | 328,561 |   | $ | 473,204 |   | $ | 327,451 |   | $ | 360,127 |   | $ | 374,883 |   | $ | 452,032 |   |
| Rent expense                                          |       | 4,343                                          |       | 5,208                                                        |       | 6,873 |   | 7,070 |   | 7,096 |   | 7,664 |   | 7,316 |   |
| Total fixed  charges                                  |       | $                                              | 524,785    |                                                         | $          | 333,769 |   | $ | 480,077 |   | $ | 334,521 |   | $ | 367,223 |   | $ | 382,547 |   | $ | 459,348 |   |
|                                                  |       |                                           |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Ratio of earnings to fixed charges*                   | ** ** | **1.63**                                       | ** ** | **1.95**                                                     | ** ** | **1.88** | ** ** | **2.23** | ** ** | **2.17** | ** ** | **1.97** | ** ** | **1.53** | ** ** |

 

“Earnings” consist of income before income taxes, thecumulative effect of changes in accounting and fixed charges. “Fixed charges”consist of interest on indebtedness, amortization of debt discount and expense,an estimated amount of rental expense under capitalized leases that is deemedto be representative of the interest factor and rental expense under operatingleases.

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*                    TheCompany has not issued preferred stock. Therefore, the ratios of earnings tocombined fixed charges and preferred stock dividends are the same as the ratiospresented above.

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