**Exhibit 12**

 

**John DeereCapital Corporation and Subsidiaries**

**Computation of Ratio of Earnings to Fixed Charges**

**(thousandsof dollars)**

 
| ** **                                                             | ** ** | **2010** | ** ** | **2009** | ** ** | **2008** | ** ** | **2007** | ** ** | **2006** | ** ** |
|------------------------------------------------------------------------|------------|----------|------------|----------|------------|----------|------------|----------|------------|----------|------------|
|                                                                   |       |     |       |     |       |     |       |     |       |     |       |
| Earnings:                                                              |       |     |       |     |       |     |       |     |       |     |       |
|                                                                   |       |     |       |     |       |     |       |     |       |     |       |
| Income of consolidated group before income taxes                       |       | $        | 477.9      |     | $          | 221.9    |       | $        | 437.1      |     | $          | 479.6 |   | $ | 442.7 |   |
|                                                                   |       |     |       |     |       |     |       |     |       |     |       |
| Fixed charges excluding capitalized interest                           |       | $        | 537.7      |     | $          | 793.6    |       | $        | 843.4      |     | $          | 882.0 |   | $ | 732.2 |   |
|                                                                   |       |     |       |     |       |     |       |     |       |     |       |
| Total earnings                                                         |       | $        | 1,015.6    |     | $          | 1,015.5  |       | $        | 1,280.5    |     | $          | 1,361.6 |   | $ | 1,174.9 |   |
|                                                                   |       |     |       |     |       |     |       |     |       |     |       |
| Fixed charges:                                                         |       |     |       |     |       |     |       |     |       |     |       |
|                                                                   |       |     |       |     |       |     |       |     |       |     |       |
| Interest expense of consolidated group including  capitalized interest |       | $        | 533.6      |     | $          | 789.6    |       | $        | 839.1      |     | $          | 877.9 |   | $ | 726.9 |   |
|                                                                   |       |     |       |     |       |     |       |     |       |     |       |
| Rent expense                                                           |       | $        | 4.1        |     | $          | 5.0      |       | $        | 4.8        |     | $          | 4.1 |   | $ | 5.3 |   |
|                                                                   |       |     |       |     |       |     |       |     |       |     |       |
| Total fixed charges                                                    |       | $        | 537.7      |     | $          | 794.6    |       | $        | 843.9      |     | $          | 882.0 |   | $ | 732.2 |   |
|                                                                   |       |     |       |     |       |     |       |     |       |     |       |
| Ratio of earnings to fixed charges *                                   | ** ** | **1.89** | ** ** | **1.28** | ** ** | **1.52** | ** ** | **1.54** | ** ** | **1.60** | ** ** |

 

“Earnings” consist of income before income taxes, the cumulative effectof changes in accounting and fixed charges excluding unamortized capitalizedinterest. “Fixed charges” consist of interest on indebtedness, amortization ofdebt discount and expense, interest related to uncertain tax positions, anestimated amount of rental expense that is deemed to be representative of the interestfactor, and capititalized interest.

 

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*           The Company has not issued preferred stock.  Therefore, the ratios of earnings to combinedfixed charges and preferred stock dividends are the same as the ratiospresented above.

 

66

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