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SECURITIES AND EXCHANGE COMMISSION |
Washington, D.C. 20549 |
FORM 8-K |
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CURRENT REPORT |
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Pursuant to Section 13 or 15(d) of the |
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Securities Exchange Act of 1934 |
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Date of Report: February 11, 2003 |
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JOHN DEERE CAPITAL CORPORATION |
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(Exact name of registrant as specified in charter) |
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DELAWARE |
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1-6458 |
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36-2386361 |
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1 East First Street |
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(775)786-5527 |
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(Former name or former address, if changed since last report.) |
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Item 5. |
Other Events. |
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JDCC's net income was $62.3 million for the first quarter of 2003, compared with $71.9 million last year. The decrease was primarily due to lower gains resulting from a reduced volume of retail-notes sold and higher administrative expenses related to growth in the portfolio. Partially offsetting these factors was a lower provision for credit losses. Last year's results were negatively affected by after-tax losses of $6 million in Argentina related to the peso devaluation. Net receivables and leases financed by JDCC were $11.423 billion at January, 31, 2003, compared with $9.978 billion one year ago. The increase resulted from acquisitions exceeding collections during the last 12 months -- including new acquisitions of Deere dealer receivables in Europe - partially offset by sales of retail notes. Net receivables and leases administered, which include receivables previously sold, totaled $13.732 billion at January 31, 2003, compared with $12.730 billion a year ago. |
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Item 7. |
Financial Statements, Pro Forma Financial Information and Exhibits. |
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(c) |
Exhibits |
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(20) |
Press release and supplemental financial information of Deere & Company. |
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Signature |
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereto duly authorized. |
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JOHN DEERE CAPITAL CORPORATION |
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By: |
/s/ NATHAN J. JONES |
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Dated: February 11, 2003 |
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Exhibit Index |
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Number and Description of Exhibit |
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(20) |
Press release and supplemental financial information of Deere & Company (Incorporated by reference to Deere & Company Current Report on Form 8-K dated February 11, 2003, file number (1-4121). |
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