Page 4 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 13, 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. 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 $29.0 million in the second quarter and $58.7 million for the first six months of 1997 compared with $37.9 million and $70.2 million for the same periods last year, primarily reflecting a gain from the sale of retail notes during the second quarter of last year. Additionally, earnings decreased this year due to lower financing spreads and higher expenditures associated with several growth initiatives, which were partially offset by higher income from a 16 percent increase in the average balance of receivables and leases financed during the first six months. Financing receivable and lease acquisition volumes increased 17 percent for the quarter and 23 percent for the first six 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 $6.146 billion at April 30, 1997 compared with $4.806 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 receivables and leases administered, which include receivables previously securitized and sold, totaled $6.866 billion at April 30, 1997 compared with $6.045 billion at April 30, 1996. Item 7. Financial Statements, Pro Forma Financial Information and Exhibits. (c) Exhibits (99) Press release and additional information of Deere & Company. 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 13, 1997 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 13, 1997, file number 1-4121).