_______________________________________________________________
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: November 23, 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.
Net income of the credit operations was $29.2 million for
the quarter and $153.3 million for the year, compared with
$47.8 million and $151.2 million, respectively, last year. The
fourth quarter 1999 results were affected by lower gains on
sales of retail notes, lower financing spreads and higher
receivable write-offs, partially offset by a reduction in
leverage position. The 1999 annual results benefited from
higher income on a 5 percent increase in the average balance of
receivables and leases financed, a reduction in leverage
position and a gain on the sale of the yacht retail note
portfolio and related intangibles, partially offset by lower
financing spreads, higher receivable write-offs and higher
operating expenses.
Net receivables and leases financed by John Deere Capital
Corporation were $7.147 billion at October 31, 1999, compared
with $6.446 billion one year ago. The increase resulted from
acquisitions exceeding collections during the last 12 months,
the consolidation of the portfolio of its subsidiary, John
Deere Credit Limited in Gloucester, England, due to the
acquisition of a controlling interest in 1999, and the
acquisition of Senstar Capital Corporation. The increase was
partially offset by the previously mentioned retail note sales
during the same period. Net receivables and leases
administered, which include receivables and leases previously
sold, were $9.586 billion at October 31, 1999, compared with
$8.635 billion at October 31, 1998.
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/ Michael A. Harring
_________________________
Michael A. Harring,
Secretary
Dated: November 23, 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 November 23, 1999, file number 1-4121).
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