**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,** | ** ** |
|-------------------------------------------------------|------------|------------------------------------------------|------------|--------------------------------------------------------------|------------|
| ** **                                            | ** ** | **2008**                                       | ** ** | **2007**                                                     | ** ** | **2007** | ** ** | **2006** | ** ** | **2005** | ** ** | **2004** | ** ** | **2003** | ** ** |
| Earnings:                                             |       |                                           |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Income before  income taxes and changes in accounting |       | $                                              | 343.7      |                                                         | $          | 352.4 |   | $ | 479.6 |   | $ | 442.7 |   | $ | 424.8 |   | $ | 410.6 |   | $ | 427.9 |   |
| Fixed charges                                         |       | 626.0                                          |       | 646.0                                                        |       | 882.0 |   | 732.2 |   | 480.1 |   | 334.5 |   | 367.2 |   |
| Total earnings                                        |       | $                                              | 969.7      |                                                         | $          | 998.4 |   | $ | 1,361.6 |   | $ | 1,174.9 |   | $ | 904.9 |   | $ | 745.1 |   | $ | 795.1 |   |
|                                                  |       |                                           |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Fixed charges:                                        |       |                                           |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                      |       | $                                              | 622.5      |                                                         | $          | 643.1 |   | $ | 877.9 |   | $ | 726.9 |   | $ | 473.2 |   | $ | 327.4 |   | $ | 360.1 |   |
| Rent expense                                          |       | 3.5                                            |       | 2.9                                                          |       | 4.1 |   | 5.3 |   | 6.9 |   | 7.1 |   | 7.1 |   |
| Total fixed  charges                                  |       | $                                              | 626.0      |                                                         | $          | 646.0 |   | $ | 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 of income before income taxes, the cumulative effectof changes in accounting and fixed charges. “Fixed charges” consist of interest on indebtedness, amortization ofdebt discount and expense, interest related to uncertain tax positions, 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, theratios of earnings to combined fixed charges and preferred stock dividends arethe same as the ratios presented above.

 

22

----