**Exhibit 12**

 

**John DeereCapital Corporation and SubsidiariesComputation of Ratio of Earnings to Fixed Charges(thousands of dollars)**

 
| ** **                                            | ** ** | **Six Months Ended  April 30,** | ** ** | **For the Years Ended October 31,** | ** ** |
|-------------------------------------------------------|------------|--------------------------------------|------------|------------------------------------------|------------|
| ** **                                            | ** ** | **2005**                             | ** ** | **2004**                                 | ** ** | **2004** | ** ** | **2003** | ** ** | **2002** | ** ** | **2001** | ** ** | **2000** | ** ** |
| Earnings:                                             |       |                                 |       |                                     |       |   |   |   |   |   |   |   |   |   |   |
| Income  before income taxes and changes in accounting |       | $                                    | 198,602    |                                     | $          | 207,911 |   | $ | 410,621 |   | $ | 427,940 |   | $ | 370,972 |   | $ | 245,662 |   | $ | 216,712 |   |
| Fixed  charges                                        |       | 203,962                              |       | 166,053                                  |       | 334,521 |   | 367,223 |   | 382,547 |   | 459,348 |   | 447,169 |   |
| Total  earnings                                       |       | $                                    | 402,564    |                                     | $          | 373,964 |   | $ | 745,142 |   | $ | 795,163 |   | $ | 753,519 |   | $ | 705,010 |   | $ | 663,881 |   |
|                                                  |       |                                 |       |                                     |       |   |   |   |   |   |   |   |   |   |   |
| Fixed  charges:                                       |       |                                 |       |                                     |       |   |   |   |   |   |   |   |   |   |   |
| Interest  expense                                     |       | $                                    | 200,551    |                                     | $          | 162,549 |   | $ | 327,451 |   | $ | 360,127 |   | $ | 374,883 |   | $ | 452,032 |   | $ | 440,220 |   |
| Rent Expense                                          |       | 3,410                                |       | 3,504                                    |       | 7,070 |   | 7,096 |   | 7,664 |   | 7,316 |   | 6,949 |   |
| Total fixed  charges                                  |       | $                                    | 203,961    |                                     | $          | 166,053 |   | $ | 334,521 |   | $ | 367,223 |   | $ | 382,547 |   | $ | 459,348 |   | $ | 447,169 |   |
|                                                  |       |                                 |       |                                     |       |   |   |   |   |   |   |   |   |   |   |
| Ratio of  earnings to fixed charges*                  | ** ** | **1.97**                             | ** ** | **2.25**                                 | ** ** | **2.23** | ** ** | **2.17** | ** ** | **1.97** | ** ** | **1.53** | ** ** | **1.48** | ** ** |

 

“Earnings” consist of income before incometaxes, the cumulative effect of changes in accounting and fixed charges.  “Fixed charges” consist of interest onindebtedness, amortization of debt discount and expense, an estimated amount ofrental expense under capitalized leases that is deemed to be representative ofthe interest factor and rental expense under operating leases.

 

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*  The Company has not issuedpreferred stock. Therefore, the ratios of earnings to combined fixed chargesand preferred stock dividends are the same as the ratios presented above.

 

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