**Exhibit 12**

 

**JohnDeere Capital Corporation and SubsidiariesComputation of Ratio of Earnings to Fixed Charges(thousands of dollars)**

 

 
| ** **                                            | ** ** | **Three  Months Ended  January 31,** | ** ** | **For the  Years Ended October 31,** | ** ** |
|-------------------------------------------------------|------------|--------------------------------------|------------|--------------------------------------|------------|
| ** **                                            | ** ** | **2006**                             | ** ** | **2005**                             | ** ** | **2005** | ** ** | **2004** | ** ** | **2003** | ** ** | **2002** | ** ** | **2001** | ** ** |
|                                                  |       |                                 |       |                                 |       |   |   |   |   |   |   |   |   |   |   |
| Earnings:                                             |       |                                 |       |                                 |       |   |   |   |   |   |   |   |   |   |   |
| Income before  income taxes and changes in accounting |       | $                                    | 107,488    |                                 | $          | 104,686 |   | $ | 424,850 |   | $ | 410,621 |   | $ | 427,940 |   | $ | 370,972 |   | $ | 245,662 |   |
| Fixed charges                                         |       | 155,967                              |       | 94,290                               |       | 480,077 |   | 334,521 |   | 367,223 |   | 382,547 |   | 459,348 |   |
| Total earnings                                        |       | $                                    | 263,455    |                                 | $          | 198,976 |   | $ | 904,927 |   | $ | 745,142 |   | $ | 795,163 |   | $ | 753,519 |   | $ | 705,010 |   |
|                                                  |       |                                 |       |                                 |       |   |   |   |   |   |   |   |   |   |   |
| Fixed charges:                                        |       |                                 |       |                                 |       |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                      |       | $                                    | 154,267    |                                 | $          | 92,583 |   | $ | 473,204 |   | $ | 327,451 |   | $ | 360,127 |   | $ | 374,883 |   | $ | 452,032 |   |
| Rent expense                                          |       | 1,700                                |       | 1,707                                |       | 6,873 |   | 7,070 |   | 7,096 |   | 7,664 |   | 7,316 |   |
| Total fixed  charges                                  |       | $                                    | 155,967    |                                 | $          | 94,290 |   | $ | 480,077 |   | $ | 334,521 |   | $ | 367,223 |   | $ | 382,547 |   | $ | 459,348 |   |
|                                                  |       |                                 |       |                                 |       |   |   |   |   |   |   |   |   |   |   |
| Ratio of earnings to fixed charges*                   | ** ** | **1.69**                             | ** ** | **2.11**                             | ** ** | **1.88** | ** ** | **2.23** | ** ** | **2.17** | ** ** | **1.97** | ** ** | **1.53** | ** ** |

 

“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.

 

*  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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