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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: August 12, 1997
(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.
John Deere Capital Corporation
The following 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 $37.8 million
in the third quarter and $96.5 million for the first nine months
of 1997 compared with $32.3 million and $102.5 million for the
same periods last year. Third quarter earnings reflect higher
income from a larger average balance of receivables and leases
financed and gains from the sale of retail notes. Year-to-date
results decreased primarily due to narrower financing spreads and
higher expenditures associated with several growth initiatives,
which were partially offset by higher income from a 19 percent
increase in the average balance of receivables and leases
financed during the first nine months.
Financing receivable and lease acquisition volumes increased
nine percent for the quarter and 18 percent for the first nine
months of 1997 compared to a year ago primarily due to the
increased sales of John Deere equipment. Acquisitions of retail
notes, revolving charge accounts, leases and wholesale
receivables all increased compared with last year.
Net receivables and leases financed by John Deere Capital
Corporation were $6.214 billion at July 31, 1997 compared with
$5.297 billion one year ago. The increase resulted from financing
receivable and lease acquisitions exceeding collections during
the last 12 months, partially offset by retail note sales during
the same period. Net credit receivables and leases administered,
which include receivables previously securitized and sold,
totaled $7.254 billion at July 31, 1997 compared with $6.411
billion at July 31, 1996.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
(c) Exhibits
(99) Press release and additional
information of Deere & Company.
Page 2
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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
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Frank S. Cottrell, Secretary
Dated: August 12, 1997
Page 3
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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 August 12, 1997, file number 1-4121).
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