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Exhibit 12

John Deere Capital Corporation and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(thousands of dollars)

			Nine Months Ended 31 July				For the Years Ended October 31,
			2001		2000		2000		1999		1998		1997		1996
Earnings:
	Income before income taxes and changes in accounting		$	181,326	$	166,665	$	216,712	$	235,760	$	233,534	$	211,251	$	206,588
	Fixed charges			362,131		324,333		447,169		366,102		373,237		330,648		276,726
		Total earnings	$	543,457	$	490,998	$	663,881	$	601,862	$	606,771	$	541,899	$	483,314
Fixed Charges:
	Interest expense		$	356,682	$	319,246	$	440,220	$	360,925	$	368,381	$	326,867	$	273,748
	Rent expense			5,449		5,087		6,949		5,177		4,856		3,782		2,978
		Total fixed charges	$	362,131	$	324,333	$	447,169	$	366,102	$	373,237	$	330,649	$	276,726
Ratio of earnings to fixed charges *				1.50		1.51		1.48		1.64		1.63		1.64		1.75

"Earnings" consist of income before income taxes, the cumulative effect of changes in accounting and fixed charges. "Fixed charges" consist of interest on indebtedness, amortization of debt discount and expense, an estimated amount of rental expense under capitalized leases which is deemed to be representative of the interest factor and rental expense under operating leases.

*

The Company has not issued preferred stock. Therefore, the ratios of earnings to combined fixed charges and preferred stock dividends are the same as the ratios presented above.

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John Deere Capital Corporation and Subsidiaries Computation of Ratio of Earnings to Fixed Charges (thousands of dollars)