**Exhibit 12**

**John Deere Capital Corporation and SubsidiariesComputation of Ratio of Earnings to Fixed Charges(thousands of dollars)**
| ** **                                            | ** ** | **Six Months Ended  April 30,** | ** ** | **For the Years Ended October 31,** | ** ** |
|-------------------------------------------------------|------------|------------------------------------------------|------------|--------------------------------------------------------------|------------|
| ** **                                            | ** ** | **2006**                                       | ** ** | **2005**                                                     | ** ** | **2005** | ** ** | **2004** | ** ** | **2003** | ** ** | **2002** | ** ** | **2001** | ** ** |
| ** **                                            | ** ** | ** **                                     | ** ** | ** **                                                   | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** | ** ** |
| Earnings:                                             |       |                                           |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Income before income taxes and  changes in accounting |       | $                                              | 212,483    |                                                         | $          | 198,602 |   | $ | 424,850 |   | $ | 410,621 |   | $ | 427,940 |   | $ | 370,972 |   | $ | 245,662 |   |
| Fixed charges                                         |       | 332,375                                        |       | 203,962                                                      |       | 480,077 |   | 334,521 |   | 367,223 |   | 382,547 |   | 459,348 |   |
| Total earnings                                        |       | $                                              | 544,858    |                                                         | $          | 402,564 |   | $ | 904,927 |   | $ | 745,142 |   | $ | 795,163 |   | $ | 753,519 |   | $ | 705,010 |   |
|                                                  |       |                                           |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Fixed charges:                                        |       |                                           |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                      |       | $                                              | 329,062    |                                                         | $          | 200,551 |   | $ | 473,204 |   | $ | 327,451 |   | $ | 360,127 |   | $ | 374,883 |   | $ | 452,032 |   |
| Rent expense                                          |       | 3,313                                          |       | 3,410                                                        |       | 6,873 |   | 7,070 |   | 7,096 |   | 7,664 |   | 7,316 |   |
| Total fixed charges                                   |       | $                                              | 332,375    |                                                         | $          | 203,961 |   | $ | 480,077 |   | $ | 334,521 |   | $ | 367,223 |   | $ | 382,547 |   | $ | 459,348 |   |
|                                                  |       |                                           |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Ratio of earnings to  fixed charges*                  | ** ** | **1.64**                                       | ** ** | **1.97**                                                     | ** ** | **1.88** | ** ** | **2.23** | ** ** | **2.17** | ** ** | **1.97** | ** ** | **1.53** | ** ** |

 
| “Earnings” consist of income  before income taxes, the cumulative effect of changes in accounting and fixed  charges. “Fixed charges” consist of interest on indebtedness, amortization of  debt discount and expense, an estimated amount of rental expense under  capitalized leases that is deemed to be representative of the interest factor  and rental expense under operating leases. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| *   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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