**Exhibit12**

 

**JohnDeere Capital Corporation and Subsidiaries**

**Computationof Ratio of Earnings to Fixed Charges**

**(thousandsof dollars)**

 
| ** **                                            | ** ** | **2005** | ** ** | **2004** | ** ** | **2003** | ** ** | **2002** | ** ** | **2001** | ** ** |
|-------------------------------------------------------|------------|----------|------------|----------|------------|----------|------------|----------|------------|----------|------------|
| Earnings:                                             |       |     |       |     |       |     |       |     |       |     |       |
|                                                  |       |     |       |     |       |     |       |     |       |     |       |
| Income before  income taxes and changes in accounting |       | $        | 424,850    |     | $          | 410,621  |       | $        | 427,940    |     | $          | 370,972 |   | $ | 245,662 |   |
|                                                  |       |     |       |     |       |     |       |     |       |     |       |
| Fixed charges                                         |       | 480,077  |       | 334,521  |       | 367,223  |       | 382,547  |       | 459,348  |       |
|                                                  |       |     |       |     |       |     |       |     |       |     |       |
| Total earnings                                        |       | $        | 904,927    |     | $          | 745,142  |       | $        | 795,163    |     | $          | 753,519 |   | $ | 705,010 |   |
|                                                  |       |     |       |     |       |     |       |     |       |     |       |
| Fixed charges:                                        |       |     |       |     |       |     |       |     |       |     |       |
|                                                  |       |     |       |     |       |     |       |     |       |     |       |
| Interest expense                                      |       | $        | 473,204    |     | $          | 327,451  |       | $        | 360,127    |     | $          | 374,883 |   | $ | 452,032 |   |
|                                                  |       |     |       |     |       |     |       |     |       |     |       |
| Rent expense                                          |       | 6,873    |       | 7,070    |       | 7,096    |       | 7,664    |       | 7,316    |       |
|                                                  |       |     |       |     |       |     |       |     |       |     |       |
| Total fixed  charges                                  |       | $        | 480,077    |     | $          | 334,521  |       | $        | 367,223    |     | $          | 382,547 |   | $ | 459,348 |   |
|                                                  |       |     |       |     |       |     |       |     |       |     |       |
| Ratio of  earnings to fixed charges *                 | ** ** | **1.88** | ** ** | **2.23** | ** ** | **2.17** | ** ** | **1.97** | ** ** | **1.53** | ** ** |

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“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, an estimated amount of rental expense undercapitalized leases which is deemed to be representative of the interest factorand rental expense under operating leases.

 

*      The Company has not issued preferredstock.  Therefore, the ratios of earningsto combined fixed charges and preferred stock dividends are the same as theratios presented above.

 

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