**Exhibit 12**

 

**John Deere Capital Corporation and Subsidiaries**

**Computation of Ratio of Earnings to Fixed Charges**

**(millions of dollars)**

 
| ** **                                                             | ** ** | **Six Months Ended  April 30,** | ** ** | **For the Years Ended October 31,** | ** ** |
|------------------------------------------------------------------------|------------|--------------------------------------|------------|------------------------------------------|------------|
| ** **                                                             | ** ** | **2009**                             | ** ** | **2008**                                 | ** ** | **2008** | ** ** | **2007** | ** ** | **2006** | ** ** | **2005** | ** ** | **2004** | ** ** |
| Earnings:                                                              |       |                                 |       |                                     |       |   |   |   |   |   |   |   |   |   |   |
| Income of  consolidated group before income taxes                      |       | $                                    | 103.1      |                                     | $          | 235.3 |   | $ | 437.1 |   | $ | 479.6 |   | $ | 442.7 |   | $ | 424.8 |   | $ | 410.6 |   |
| Fixed charges  excluding capitalized interest                          |       | 413.6                                |       | 431.0                                    |       | 843.4 |   | 882.0 |   | 732.2 |   | 480.1 |   | 334.5 |   |
| Total earnings                                                         |       | $                                    | 516.7      |                                     | $          | 666.3 |   | $ | 1,280.5 |   | $ | 1,361.6 |   | $ | 1,174.9 |   | $ | 904.9 |   | $ | 745.1 |   |
|                                                                   |       |                                 |       |                                     |       |   |   |   |   |   |   |   |   |   |   |
| Fixed charges:                                                         |       |                                 |       |                                     |       |   |   |   |   |   |   |   |   |   |   |
| Interest expense  of consolidated group including capitalized interest |       | $                                    | 411.6      |                                     | $          | 428.6 |   | $ | 839.1 |   | $ | 877.9 |   | $ | 726.9 |   | $ | 473.2 |   | $ | 327.4 |   |
| Rent expense                                                           |       | 2.4                                  |       | 2.4                                      |       | 4.8 |   | 4.1 |   | 5.3 |   | 6.9 |   | 7.1 |   |
| Total fixed  charges                                                   |       | $                                    | 414.0      |                                     | $          | 431.0 |   | $ | 843.9 |   | $ | 882.0 |   | $ | 732.2 |   | $ | 480.1 |   | $ | 334.5 |   |
|                                                                   |       |                                 |       |                                     |       |   |   |   |   |   |   |   |   |   |   |
| Ratio of  earnings to fixed charges*                                   | ** ** | **1.25**                             | ** ** | **1.55**                                 | ** ** | **1.52** | ** ** | **1.54** | ** ** | **1.60** | ** ** | **1.88** | ** ** | **2.23** | ** ** |

 

“Earnings” consist ofincome before income taxes, the cumulative effect of changes in accounting andfixed charges excluding capitalized interest. “Fixed charges” consist of interest on indebtedness, amortization ofdebt discount and expense, interest related to uncertain tax positions, anestimated amount of rental expense under capitalized leases that is deemed tobe representative of the interest factor and rental expense under operatingleases, and capitalized interest.

 

*  The Companyhas not issued preferred stock. Therefore, the ratios of earnings to combinedfixed charges and preferred stock dividends are the same as the ratiospresented above.

 

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