**Exhibit 12**

 

**John Deere Capital Corporation and SubsidiariesComputation of Ratio of Earnings to Fixed Charges(millions of dollars)**

 
| ** **                                            | ** ** | **Three Months Ended  January 31,** | ** ** | **For the Years Ended October 31,** | ** ** |
|-------------------------------------------------------|------------|----------------------------------------------------|------------|--------------------------------------------------------------|------------|
| ** **                                            | ** ** | **2008**                                           | ** ** | **2007**                                                     | ** ** | **2007** | ** ** | **2006** | ** ** | **2005** | ** ** | **2004** | ** ** | **2003** | ** ** |
|                                                  |       |                                               |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Earnings:                                             |       |                                               |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Income before  income taxes and changes in accounting |       | $                                                  | 114.2      |                                                         | $          | 112.5 |   | $ | 479.6 |   | $ | 442.7 |   | $ | 424.8 |   | $ | 410.6 |   | $ | 427.9 |   |
| Fixed charges                                         |       | 224.6                                              |       | 202.9                                                        |       | 882.0 |   | 732.2 |   | 480.1 |   | 334.5 |   | 367.2 |   |
| Total earnings                                        |       | $                                                  | 338.8      |                                                         | $          | 315.4 |   | $ | 1,361.6 |   | $ | 1,174.9 |   | $ | 904.9 |   | $ | 745.1 |   | $ | 795.1 |   |
|                                                  |       |                                               |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Fixed charges:                                        |       |                                               |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                      |       | $                                                  | 223.6      |                                                         | $          | 201.9 |   | $ | 877.9 |   | $ | 726.9 |   | $ | 473.2 |   | $ | 327.4 |   | $ | 360.1 |   |
| Rent expense                                          |       | 1.0                                                |       | 1.0                                                          |       | 4.1 |   | 5.3 |   | 6.9 |   | 7.1 |   | 7.1 |   |
| Total fixed  charges                                  |       | $                                                  | 224.6      |                                                         | $          | 202.9 |   | $ | 882.0 |   | $ | 732.2 |   | $ | 480.1 |   | $ | 334.5 |   | $ | 367.2 |   |
|                                                  |       |                                               |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Ratio of  earnings to fixed charges*                  | ** ** | **1.51**                                           | ** ** | **1.55**                                                     | ** ** | **1.54** | ** ** | **1.60** | ** ** | **1.88** | ** ** | **2.23** | ** ** | **2.17** | ** ** |

 

“Earnings” consist ofincome before income taxes, the cumulative effect of changes in accounting andfixed charges. “Fixed charges” consist of interest on indebtedness,amortization of debt discount and expense, an estimated amount of rentalexpense under capitalized leases that is deemed to be representative of theinterest factor and rental expense under operating leases.

 

*    The Company has not issued preferred stock.Therefore, the ratios of earnings to combined fixed charges and preferred stockdividends are the same as the ratios presented above.

 

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