**Exhibit 12**

 

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

 
| ** **                                            | ** ** | **Six Months Ended**

**April 30,** | ** ** | **For the Years Ended October 31,** | ** ** |
|-------------------------------------------------------|------------|----------------------------------------------------|------------|--------------------------------------------------------------|------------|
| ** **                                            | ** ** | **2008**                                           | ** ** | **2007**                                                     | ** ** | **2007** | ** ** | **2006** | ** ** | **2005** | ** ** | **2004** | ** ** | **2003** | ** ** |
| Earnings:                                             |       |                                               |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Income before  income taxes and changes in accounting |       | $                                                  | 235.3      |                                                         | $          | 229.2 |   | $ | 479.6 |   | $ | 442.7 |   | $ | 424.8 |   | $ | 410.6 |   | $ | 427.9 |   |
| Fixed charges                                         |       | 431.0                                              |       | 418.9                                                        |       | 882.0 |   | 732.2 |   | 480.1 |   | 334.5 |   | 367.2 |   |
| Total earnings                                        |       | $                                                  | 666.3      |                                                         | $          | 648.1 |   | $ | 1,361.6 |   | $ | 1,174.9 |   | $ | 904.9 |   | $ | 745.1 |   | $ | 795.1 |   |
|                                                  |       |                                               |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Fixed charges:                                        |       |                                               |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                      |       | $                                                  | 428.6      |                                                         | $          | 417.0 |   | $ | 877.9 |   | $ | 726.9 |   | $ | 473.2 |   | $ | 327.4 |   | $ | 360.1 |   |
| Rent expense                                          |       | 2.4                                                |       | 1.9                                                          |       | 4.1 |   | 5.3 |   | 6.9 |   | 7.1 |   | 7.1 |   |
| Total fixed  charges                                  |       | $                                                  | 431.0      |                                                         | $          | 418.9 |   | $ | 882.0 |   | $ | 732.2 |   | $ | 480.1 |   | $ | 334.5 |   | $ | 367.2 |   |
|                                                  |       |                                               |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Ratio of  earnings to fixed charges*                  | ** ** | **1.55**                                           | ** ** | **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” consistof interest on indebtedness, amortization of debt discount and expense, anestimated amount of rental expense under capitalized leases that is deemed tobe representative of the interest factor and rental expense under operatingleases.

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

 

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