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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: May 19, 1998
(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)
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(Former name or former address, if changed since last report.)
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 applicable to its periodic issuance
of debt securities in the public market. John Deere Capital
Corporation's net income was $32.9 million in the second quarter
and $63.5 million for the first six months of 1998 compared with
$29.0 million and $58.7 million for the same periods last year.
The 1998 second quarter and year-to-date results benefited from
gains of $10.3 million on sales of recreational vehicle retail
notes and higher income from a 12 percent increase in the average
balance of receivables and leases financed during the first six
months. These results were partially offset by narrower financing
spreads, higher write-offs of receivables and higher operating
expenses.
Net receivables and leases financed by John Deere Capital
Corporation were $6.812 billion at April 30, 1998, compared with
$6.146 billion one year ago. The increase resulted from
acquisitions exceeding collections during the last 12 months,
partially offset by the previously mentioned sales of
recreational vehicle retail notes and other retail note sales
during the same period. Receivable and lease acquisition volumes
during the first six months increased 12 percent compared with
the same period last year. Net receivables and leases
administered, which include receivables previously sold, totaled
$7.790 billion at April 30, 1998 compared with $6.866 billion at
April 30, 1997.
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: May 19, 1998
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 May 19, 1998, file number 1-4121).
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