_______________________________________________________________
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: May 18, 1999
(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)
_______________________________________
(Former name or former address, if changed since last report.)
_______________________________________________________________
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Item 5. Other Information Events.
John Deere Capital Corporation's net income was $36.5
million in the second quarter and $73.9 million for the first
six months of 1999, compared with $32.9 million and $63.5
million for the same periods last year. The 1999 second quarter
and year-to-date results benefited from higher income on an 8
percent increase in the average balance of receivables and
leases financed during the first six months and a reduction in
leverage position, partially offset by higher operating
expenses. In addition, year-to-date results benefited from
higher gains on the sales of retail notes.
Net receivables and leases financed by John Deere Capital
Corporation were $7.690 billion at April 30, 1999, compared
with $6.812 billion one year ago. The increase resulted from
acquisitions exceeding collections during the last 12 months
and the consolidation of the portfolio of its subsidiary, John
Deere Credit Limited in Gloucester, England, pursuant to the
recently announced acquisition of a controlling interest. This
was partially offset by the previously mentioned retail note
sales during the same period.
Item 7. Financial Statements, Pro Forma Financial Information
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: May 18, 1999
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Exhibit Index
Number and Description of Exhibit
(99) Press release and additional information of
Deere & Company (Incorporated by reference
to Deere & Company Current Report on Form 8-K
dated May 18, 1999, file number 1-4121).
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