**Exhibit 12**

 

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

 

 
| ** **                                            | ** ** | **Three Months Ended  January 31,** | ** ** | **For the Years Ended October 31,** | ** ** |
|-------------------------------------------------------|------------|----------------------------------------------------|------------|--------------------------------------------------------------|------------|
| ** **                                            | ** ** | **2007**                                           | ** ** | **2006**                                                     | ** ** | **2006** | ** ** | **2005** | ** ** | **2004** | ** ** | **2003** | ** ** | **2002** | ** ** |
| Earnings:                                             |       |                                               |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Income before  income taxes and changes in accounting |       | $                                                  | 112.5      |                                                         | $          | 107.4 |   | $ | 442.7 |   | $ | 424.8 |   | $ | 410.6 |   | $ | 427.9 |   | $ | 371.0 |   |
| Fixed charges                                         |       | 202.9                                              |       | 156.0                                                        |       | 732.2 |   | 480.1 |   | 334.5 |   | 367.2 |   | 382.5 |   |
|                                                  |       |                                               |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Total earnings                                        |       | $                                                  | 315.4      |                                                         | $          | 263.4 |   | $ | 1,174.9 |   | $ | 904.9 |   | $ | 745.1 |   | $ | 795.1 |   | $ | 753.5 |   |
|                                                  |       |                                               |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Fixed charges:                                        |       |                                               |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Interest expense                                      |       | $                                                  | 201.9      |                                                         | $          | 154.3 |   | $ | 726.9 |   | $ | 473.2 |   | $ | 327.4 |   | $ | 360.1 |   | $ | 374.9 |   |
| Rent expense                                          |       | 1.0                                                |       | 1.7                                                          |       | 5.3 |   | 6.9 |   | 7.1 |   | 7.1 |   | 7.6 |   |
|                                                  |       |                                               |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Total fixed charges                                   |       | $                                                  | 202.9      |                                                         | $          | 156.0 |   | $ | 732.2 |   | $ | 480.1 |   | $ | 334.5 |   | $ | 367.2 |   | $ | 382.5 |   |
|                                                  |       |                                               |       |                                                         |       |   |   |   |   |   |   |   |   |   |   |
| Ratio of earnings to fixed charges*                   | ** ** | **1.55**                                           | ** ** | **1.69**                                                     | ** ** | **1.60** | ** ** | **1.88** | ** ** | **2.23** | ** ** | **2.17** | ** ** | **1.97** | ** ** |

 

“Earnings” consist of income before income taxes, thecumulative 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 issued preferredstock. Therefore, the ratios of earnings to combined fixed charges andpreferred stock dividends are the same as the ratios presented above.

 

 

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