**Exhibit 12**

 

**John Deere Capital Corporation and Subsidiaries**

**Computation of Ratio of Earningsto Fixed Charges**

**(millions of dollars)**

 
|                                                                   |       |                                  |       |                                      |       |     |       |     |       |     |       |     |       |     |       |   |   |    |   |   |   |   |
|------------------------------------------------------------------------|------------|---------------------------------------|------------|-------------------------------------------|------------|----------|------------|----------|------------|----------|------------|----------|------------|----------|------------|--------|--------|---------|--------|--------|--------|--------|
|                                                                   | ** ** | **Nine  Months Ended  July 31,** |       | **For the  Years Ended October 31,** |       |
|                                                                   |       | 2010                                  |       | 2009                                      |       | 2009     |       | 2008     |       | 2007     |       | 2006     |       | 2005     |       |
|                                                                   |       |                                  |       |                                      |       |     |       |     |       |     |       |     |       |     |       |
| Earnings:                                                              |       |                                  |       |                                      |       |     |       |     |       |     |       |     |       |     |       |
| Income  of consolidated group before income taxes                      |       | $                                     | 336.5      |                                      | $          | 199.8    |       | $        | 221.9      |     | $          | 437.1    |       | $        | 479.6      |   | $      | 442.7   |   | $      | 424.8  |   |
| Fixed  charges excluding capitalized interest                          |       | 416.8                                 |       | 610.1                                     |       | 793.6    |       |     | 843.4      |     | 882.0      |     | 732.2      |     | 480.1      |   |
| Total  earnings                                                        |       | $                                     | 753.3      |                                      | $          | 809.9    |       | $        | 1,015.5    |     | $          | 1,280.5  |       | $        | 1,361.6    |   | $      | 1,174.9 |   | $      | 904.9  |   |
|                                                                   |       |                                  |       |                                      |       |     |       |     |       |     |       |     |       |     |       |
| Fixed  charges:                                                        |       |                                  |       |                                      |       |     |       |     |       |     |       |     |       |     |       |
| Interest  expense of consolidated group including capitalized interest |       | $                                     | 413.6      |                                      | $          | 607.1    |       | $        | 789.6      |     | $          | 839.1    |       | $        | 877.9      |   | $      | 726.9   |   | $      | 473.2  |   |
| Rent  expense                                                          |       | 3.2                                   |       | 3.7                                       |       | 5.0      |       | 4.8      |       | 4.1      |       | 5.3      |       | 6.9      |       |
| Total  fixed charges                                                   |       | $                                     | 416.8      |                                      | $          | 610.8    |       | $        | 794.6      |     | $          | 843.9    |       | $        | 882.0      |   | $      | 732.2   |   | $      | 480.1  |   |
|                                                                   |       |                                  |       |                                      |       |     |       |     |       |     |       |     |       |     |       |
| Ratio  of earnings to fixed charges                                    | ** ** | **1.81**                              | ** ** | **1.33**                                  | ** ** | **1.28** | ** ** | **1.52** | ** ** | **1.54** | ** ** | **1.60** | ** ** | **1.88** | ** ** |
|                                                                        |            |                                       |            |                                           |            |          |            |          |            |          |            |          |            |          |            |        |        |         |        |        |        |        |  |

 

“Earnings” consist of income before income taxes, the cumulative effectof changes in accounting and fixed charges excluding unamortized capitalizedinterest.  “Fixed charges” consist ofinterest on indebtedness, amortization of debt discount and expense, interestrelated to uncertain tax positions, an estimated amount of rental expense thatis deemed to be representative of the interest factor, and capitalizedinterest.

 

The Company has not issued preferred stock. Therefore, the ratios ofearnings to combined fixed charges and preferred stock dividends are the sameas the ratios presented above.

 

27

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