**Exhibit 12**

 

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

 
| ** **                                                             | ** ** | **Nine Months Ended  July 31,** | ** ** | **For the Years Ended October 31,** |
|------------------------------------------------------------------------|------------|--------------------------------------|------------|------------------------------------------|
|                                                                   |       | 2009                                 |       | 2008                                     |   | 2008 |   | 2007 |   | 2006 |   | 2005 |   | 2004 |
| Earnings:                                                              |       |                                 |       |                                     |   |   |   |   |   |   |   |   |   |   |
| Income  of consolidated group before income taxes                      |       | $                                    | 199.8      |                                     | $ | 343.7 |   | $ | 437.1 |   | $ | 479.6 |   | $ | 442.7 |   | $ | 424.8 |   | $ | 410.6 |
| Fixed charges excluding capitalized interest                           |       | 610.1                                |       | 626.0                                    |   | 843.4 |   | 882.0 |   | 732.2 |   | 480.1 |   | 334.5 |
| Total earnings                                                         |       | $                                    | 809.9      |                                     | $ | 969.7 |   | $ | 1,280.5 |   | $ | 1,361.6 |   | $ | 1,174.9 |   | $ | 904.9 |   | $ | 745.1 |
|                                                                   |       |                                 |       |                                     |   |   |   |   |   |   |   |   |   |   |
| Fixed charges:                                                         |       |                                 |       |                                     |   |   |   |   |   |   |   |   |   |   |
| Interest  expense of consolidated group including capitalized interest |       | $                                    | 607.1      |                                     | $ | 622.5 |   | $ | 839.1 |   | $ | 877.9 |   | $ | 726.9 |   | $ | 473.2 |   | $ | 327.4 |
| Rent expense                                                           |       | 3.7                                  |       | 3.5                                      |   | 4.8 |   | 4.1 |   | 5.3 |   | 6.9 |   | 7.1 |
| Total fixed charges                                                    |       | $                                    | 610.8      |                                     | $ | 626.0 |   | $ | 843.9 |   | $ | 882.0 |   | $ | 732.2 |   | $ | 480.1 |   | $ | 334.5 |
|                                                                   |       |                                 |       |                                     |   |   |   |   |   |   |   |   |   |   |
| Ratio of earnings to fixed charges*                                    |       | **1.33**                             | ** ** | **1.55**                                 | ** ** | **1.52** | ** ** | **1.54** | ** ** | **1.60** | ** ** | **1.88** | ** ** | **2.23** |

 

 

“Earnings”consist of income before income taxes, the cumulative effect of changes inaccounting and fixed charges excluding capitalized interest.  “Fixed charges” consist of interest onindebtedness, amortization of debt discount and expense, interest related touncertain tax positions, an estimated amount of rental expense undercapitalized leases that is deemed to be representative of the interest factorand rental expense under operating leases, and capitalized interest.

 

*  TheCompany has not issued preferred stock. Therefore, the ratios of earnings tocombined fixed charges and preferred stock dividends are the same as the ratiospresented above.

 

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