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: December 6, 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.
"John Deere Capital Corporation's net income was $30.2 million
in the fourth quarter
of 1994 compared with $28.2 million in the same period last
year. Net income for the
fourth quarter of 1994 was favorably affected by a larger
average portfolio financed
and a larger gain from the sale of retail notes. These effects
were partially offset by
a higher provision for credit losses, due to the growth in the
portfolio financed. The
average balance of credit receivables and leases financed was 14
percent higher in
the fourth quarter of 1994 compared with the same period last
year.
Net income for fiscal 1994 totaled $104.9 million compared with
income before the
cumulative effect of accounting changes of $111.0 million in
1993 ($107.2 million after
the accounting changes.) The decrease reflects the impact of
higher dividend
payouts during the year, lower gains from the sale of retail
notes and higher
operating expenses, partially offset by higher securitization
and servicing fee income
from retail notes previously sold but still administered.
Credit receivable and lease acquisitions increased 29 percent
during the fourth
quarter and 18 percent for fiscal year 1994 compared with
acquisitions in the same
periods in 1993. Acquisitions of retail notes, revolving charge
accounts and
wholesale receivables all increased during 1994. Retail notes
acquired during fiscal
1994 totaled $2.488 billion, a 16 percent increase compared with
fiscal 1993
acquisitions of $2.136 billion. Acquisitions of recreational
product notes accounted
for 11 percent of total note acquisitions in 1994 compared with
nine percent in 1993.
Acquisitions of John Deere equipment notes were 15 percent
higher in the current
year, primarily due to increased retail sales of John Deere
equipment.
Net credit receivables and leases financed by John Deere Capital
Corporation were
$4.0 billion at October 31, 1994 compared with $3.4 billion one
year ago. The
increase resulted from credit receivable acquisitions exceeding
collections during
1994. However, the company also securitized and sold retail
notes, receiving net
proceeds of $560 million during 1994, compared with net proceeds
of $1.143 billion
last year. Net credit receivables and leases administered,
which include receivables
previously securitized and sold totaled $5.2 billion at October
31, 1994 compared with
$4.8 billion at October 31, 1993."
Item 7. Financial Statements and Exhibits.
(c) Exhibits
(99) Press release and additional information of Deere &
Company
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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: December 6, 1994
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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 December 6, 1994, file number 1-4121.
