SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: 24 May 1994
(Date of earliest event reported)
JOHN DEERE CAPITAL CORPORATION
(Exact name of registrant as specified in charter)
DELAWARE
(State or other jurisdiction of incorporation)
1-6458
(Commission File Number)
36-2386361
(IRS Employer Identification No.)
Suite 600
First Interstate Bank Building
1 East First Street
Reno, Nevada 89501
(Address of principal executive offices and zip code)
(702)786-5527
(Registrant`s telephone number, including area code)
_______________________________________
Page 1 of 4 pages.
The Exhibit Index appears at Page 4.
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Item 5. Other Information Events.
The following information was included in Deere & Company's
press release
reporting earnings for the quarter.
The following information is disclosed on behalf of the
company's credit subsidiary,
John Deere Capital Corporation, in connection with the
disclosure requirements of
programs providing for the issuance of debt securities:
"John Deere Capital Corporation's net income was $25.9 million
in the second
quarter of 1994 compared with $26.8 million in the same period
last year. For the
first six months of 1994, net income was $48.9 million, compared
with income of
$54.3 million in 1993 excluding the cumulative effect of
accounting changes ($50.5
million after the accounting changes). Compared with last year,
income for both the
quarter and the year was unfavorably affected by lower margins
from a smaller
average receivable and lease portfolio caused mainly by the sale
of retail notes in
1993. These lower margins were partially offset by higher
securitization and servicing
fee income from retail notes previously sold but still
administered.
Revenues for the quarter and the year were lower compared with a
year ago due to
the sale of notes and lower levels of interest rates resulting
in lower finance charges
earned by the company in 1994. These decreases were partially
offset by increases
in securitization and servicing fee income. The average
receivable and lease portfolio
financed was approximately seven percent lower in the second
quarter and 10
percent lower during the first six months of this year compared
with a year ago.
Total receivable and lease acquisitions increased by 16 percent
for the quarter and
14 percent year-to-date compared with the same periods last
year. The higher
acquisitions during the first six months were attributable to
increased volumes of
retail notes, revolving charge accounts and wholesale
receivables. Net credit
receivables and leases financed by John Deere Capital
Corporation were $3.757
billion at April 30, 1994 compared with $3.461 billion one year
ago. The increase in
the receivable and lease portfolio financed resulted mainly from
a higher balance of
John Deere notes and leases, and revolving charge accounts. Net
credit receivables
and leases administered, which include receivables previously
securitized and sold,
amounted to $4.694 billion at April 30, 1994 compared with
$4.506 billion at April 30,
1993."
Item 7. Financial Statements and Exhibits.
(c) Exhibits
(99) Press release and additional information of Deere &
Company.<PAGE>
Signature
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.
JOHN DEERE CAPITAL CORPORATION
By /s/ Frank S. Cottrell
Frank S. Cottrell, Secretary
Dated: May 24, 1994
<PAGE>
EXHIBIT INDEX
Sequential
Number and Description of Exhibit Page Number
(99) Press release and additional information
of Deere & Company (Incorporated by reference
to Deere & Company Current Report on Form 8-K
dated 24 May 1994 file no. 1-4121).
