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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NC
INCOME AND EXPENSE ANALYSIS
**BY ACRES *** - 300 *** *** 301 - 600 ***
26 FARMS 44 FARMS
ITEM PER FARM PER FARM
1 BEEF 137,736 44,437
2 DAIRY AND MILK 75,245 8,909
3 SHEEP 625
4 SWINE 12,353 10,684
5 POULTRY AND EGGS 6-
6 OTHER LIVESTOCK 189- 455-
7 CUSTOM FEEDING 2,120 301
8 FEED PURCHASED 96,402- 14,125-
9 LIVESTOCK INCOME $130,857 $50,376
10 CORN 1,220 846
11 GRAIN SORGHUM 2,797 9,459
12 SOYBEANS 3,534 7,698
13 SUNFLOWERS 108
14 WHEAT 9,434 24,763
15 HAY AND FORAGE 2,216 8,543
16 OTHER CROP 1,568 542
17 GOVERNMENT PAYMENTS 5,404 8,612
18 CROP INSURANCE PROCEEDS 203 818
19 OTHER INCOME 5,571 4,872
20 VALUE OF FARM PRODUCTION $162,802 $116,637
21 HIRED LABOR 13,112 1,354
22 MACHINERY REPAIRS 10,425 11,296
23 IRRIGATION REPAIRS 26 39
24 BUILDING REPAIRS 1,187 1,350
25 INTEREST PAID 9,589 7,154
26 SEED-OTHER CROP EXPENSE 2,499 4,162
27 CROP INSURANCE 724 1,442
28 FERTILIZER-LIME 5,589 11,344
29 MACHINE HIRE 10,890 4,693
30 ORGANIZATION FEE, PUBLICATION 1,760 1,826
31 VET-MED-DRUGS 6,266 2,176
32 CROP STORAGE-MARKETING 110 595
33 LIVESTOCK MARKETING-BREEDING 4,785 1,072
34 DAIRY EXPENSE 6,395 384
35 GAS-FUEL-OIL 4,982 6,830
36 IRRIGATION ENERGY 90 6
37 REAL ESTATE TAXES 2,317 2,735
38 PERSONAL PROPERTY TAXES 588 491
39 GENERAL FARM INSURANCE 2,936 2,706
40 UTILITIES 4,733 2,705
41 CASH FARM RENT 6,955 8,124
42 HERBICIDE-INSECTICIDE 1,701 4,605
43 CONSERVATION 65 111
44 AUTO EXPENSE 1,038 1,103
45 TOTAL OPERATING EXPENSE $98,762 $78,305
46 DEPRECIATION-MACHINERY 8,185 10,623
47 DEPRECIATION-BUILDINGS 3,529 980
48 TOTAL FARM EXPENSE $110,476 $89,908
49 NET FARM INCOME $52,326 $26,729
50 UNPAID FAMILY LABOR 1,471 920
51 UNPAID OPERATOR LABOR 19,627 22,950
52 MANAGEMENT CHARGE 11,685 7,012
53 CURRENT ASSET CHARGE - 8% 13,791 7,490
54 NONCURRENT ASSET CHARGE - 8% 13,648 20,231
55 RETURN LABOR-MANAGEMENT 23,416 1,912-
56 RETURN TO CAPITAL 29,133 3,001
57 ASSET TURNOVER RATIO .2998 .2471
58 OPERATING PROFIT MARGIN RATIO .1789 .0257
59 % RETURN ON ASSETS .0536 .0064
60 % RETURN ON EQUITY .0570 .0120-
61 TOTAL EXPENSE RATIO .6786 .7708
62 ADJUSTED TOTAL EXPENSE RATIO .8800 1.0356
63 ECONOMIC TOTAL EXPENSE RATIO 1.0485 1.2733
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 266,504 288,765 138,315 152,447
65 NONCURRENT ASSETS 259,146 271,641 309,017 344,265
66 CURRENT LIABILITIES 106,409 104,092 50,024 53,483
67 NONCURRENT LIABILITIES 94,342 95,247 67,951 79,564
68 CURRENT RATIO 2.50 2.77 2.76 2.85
69 DEBT TO ASSET RATIO .38 .36 .26 .27
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NC
ANALYSIS OF THE FARM BUSINESS
**BY ACRES *** - 300 *** *** 301 - 600 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 80,444 46,870
71 MACHINERY AND EQUIPMENT 27,301 32,133
72 MOTOR VEHICLES & LISTED PROPERTY 38,064 58,961
73 BUILDINGS 22,310 9,672
74 OWNED LAND 150,880 203,619
75 TOTAL ASSETS 543,028 472,022
76 NET WORTH 342,983 346,511
LABOR
77 NUMBER OF OPERATORS .72 .85
78 NUMBER OF WORKERS 1.28 .96
79 TOTAL WORK DAYS 213 160
80 VALUE FARM PRODUCTION/WORKER 126,354 120,754
81 NET FARM INCOME/WORKER 40,611 27,673
PER OPERATOR BASIS
82 TOTAL ASSETS 747,022 555,320
83 VALUE OF FARM PRODUCTION 223,961 137,220
84 NET FARM INCOME 71,983 31,446
OTHER FACTORS
85 % CROP ACRES IRRIGATED 5.80 1.70
86 % TILLABLE LAND 34.23 49.96
87 CROP MACH COST/TOT EXPENSE(%) 13.47 34.54
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 655 24 242 22 495 21 923 44 406 37 625 41
89 NON-IRRIGATED CROP ACRES 211 24 117 20 144 19 454 44 228 35 299 40
90 IRRIGATED CROP ACRES
91 TOTAL CROP ACRES 224 24 124 20 145 20 461 44 236 35 301 40
92 PASTURE ACRES 605 17 198 14 536 14 560 36 263 25 438 31
93 FARMSTEAD ACRES
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 207 212 461 467
95 CROP MACHINERY INVESTMENT 28,641 138.36 135.40 73,278 158.81 156.81
96 CROP MACHINERY COST 14,879 71.88 70.34 31,057 67.31 66.46
97 GROSS CROP VALUE 44,791 199.73 195.45 85,160 184.57 182.23
98 CROP PRODUCTION COSTS 31,859 147.99 144.81 63,098 136.75 135.02
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 5 30 21 143.1 10 54 50 140.6
100 GRAIN SORGHUM 12 33 29 81.9 24 86.4 36 107 65 85.2 81 84.9
101 SOYBEANS 10 41 40 40.9 30 37.3 30 69 36 37.3 63 39.0
102 SUNFLOWERS
103 WHEAT 15 105 80 48.6 60 49.6 42 199 107 48.7 136 48.1
104 OTHER CROPS 5 19 16
105 ALFALFA 20 54 28 3.7 61 3.4 33 77 60 3.4 63 3.4
106 OTHER HAY & FORAGE 18 87 52 78 34 81 62 56
107 VEGETABLES
108 TRUCK CROPS
109 FRUIT - FLOWERS - TREES
IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
110 CORN
111 GRAIN SORGHUM
112 SOYBEANS
113 SUNFLOWERS
114 WHEAT
115 OTHER CROPS
116 ALFALFA
117 OTHER HAY & FORAGE
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 16 32
122 DAIRY COWS 20 1
123 EWES 3
124 SOWS 11 6
125 BEEF PURCHASED FOR RESALE SALES 385 37
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
%%ISCC CHANGE_OVERLAY SUMMF2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NC
INCOME AND EXPENSE ANALYSIS
**BY ACRES *** 601 - 900 *** *** 901 - 1200 ***
68 FARMS 53 FARMS
ITEM PER FARM PER FARM
1 BEEF 94,324 61,012
2 DAIRY AND MILK 11,880 14,945
3 SHEEP 335 209
4 SWINE 3,376 11,687
5 POULTRY AND EGGS 6
6 OTHER LIVESTOCK 83 196-
7 CUSTOM FEEDING 2,753 96
8 FEED PURCHASED 40,088- 17,552-
9 LIVESTOCK INCOME $72,670 $70,201
10 CORN 7,041 16,987
11 GRAIN SORGHUM 17,597 23,669
12 SOYBEANS 14,177 23,110
13 SUNFLOWERS 60 110-
14 WHEAT 42,244 55,650
15 HAY AND FORAGE 4,426 7,784
16 OTHER CROP 374 2,329
17 GOVERNMENT PAYMENTS 16,425 24,326
18 CROP INSURANCE PROCEEDS 2,844 1,823
19 OTHER INCOME 5,976 9,852
20 VALUE OF FARM PRODUCTION $183,835 $235,622
21 HIRED LABOR 3,290 9,816
22 MACHINERY REPAIRS 14,643 18,442
23 IRRIGATION REPAIRS 230 305
24 BUILDING REPAIRS 1,488 2,082
25 INTEREST PAID 10,557 15,153
26 SEED-OTHER CROP EXPENSE 8,055 12,460
27 CROP INSURANCE 2,884 5,465
28 FERTILIZER-LIME 18,142 30,491
29 MACHINE HIRE 5,447 8,278
30 ORGANIZATION FEE, PUBLICATION 2,232 3,051
31 VET-MED-DRUGS 3,714 3,746
32 CROP STORAGE-MARKETING 802 1,096
33 LIVESTOCK MARKETING-BREEDING 4,598 4,335
34 DAIRY EXPENSE 2,171 1,001
35 GAS-FUEL-OIL 9,323 12,424
36 IRRIGATION ENERGY 8 468
37 REAL ESTATE TAXES 3,754 4,306
38 PERSONAL PROPERTY TAXES 462 816
39 GENERAL FARM INSURANCE 3,168 4,294
40 UTILITIES 2,977 4,572
41 CASH FARM RENT 13,586 15,350
42 HERBICIDE-INSECTICIDE 8,002 12,901
43 CONSERVATION 152 440
44 AUTO EXPENSE 1,085 1,617
45 TOTAL OPERATING EXPENSE $120,768 $172,907
46 DEPRECIATION-MACHINERY 13,055 18,708
47 DEPRECIATION-BUILDINGS 1,343 1,822
48 TOTAL FARM EXPENSE $135,166 $193,437
49 NET FARM INCOME $48,669 $42,185
50 UNPAID FAMILY LABOR 1,092 764
51 UNPAID OPERATOR LABOR 25,610 28,732
52 MANAGEMENT CHARGE 11,587 11,133
53 CURRENT ASSET CHARGE - 8% 10,689 8,210
54 NONCURRENT ASSET CHARGE - 8% 22,644 24,335
55 RETURN LABOR-MANAGEMENT 14,244 8,876
56 RETURN TO CAPITAL 20,937 16,709
57 ASSET TURNOVER RATIO .2815 .3394
58 OPERATING PROFIT MARGIN RATIO .1139 .0709
59 % RETURN ON ASSETS .0321 .0241
60 % RETURN ON EQUITY .0249 .0038
61 TOTAL EXPENSE RATIO .7353 .8210
62 ADJUSTED TOTAL EXPENSE RATIO .9435 .9934
63 ECONOMIC TOTAL EXPENSE RATIO 1.1249 1.1315
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 228,019 259,690 204,674 228,568
65 NONCURRENT ASSETS 397,986 420,398 469,523 485,611
66 CURRENT LIABILITIES 107,542 112,936 104,312 123,689
67 NONCURRENT LIABILITIES 118,181 134,107 174,552 172,206
68 CURRENT RATIO 2.12 2.30 1.96 1.85
69 DEBT TO ASSET RATIO .36 .36 .41 .41
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NC
ANALYSIS OF THE FARM BUSINESS
**BY ACRES *** 601 - 900 *** *** 901 - 1200 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 52,977 47,590
71 MACHINERY AND EQUIPMENT 42,046 56,039
72 MOTOR VEHICLES & LISTED PROPERTY 73,915 92,277
73 BUILDINGS 13,380 17,423
74 OWNED LAND 271,942 291,322
75 TOTAL ASSETS 653,047 694,188
76 NET WORTH 416,664 406,808
LABOR
77 NUMBER OF OPERATORS .94 1.06
78 NUMBER OF WORKERS 1.12 1.40
79 TOTAL WORK DAYS 236 292
80 VALUE FARM PRODUCTION/WORKER 163,837 168,301
81 NET FARM INCOME/WORKER 43,375 30,132
PER OPERATOR BASIS
82 TOTAL ASSETS 688,483 652,340
83 VALUE OF FARM PRODUCTION 193,811 221,418
84 NET FARM INCOME 51,310 39,642
OTHER FACTORS
85 % CROP ACRES IRRIGATED 1.11 3.00
86 % TILLABLE LAND 51.51 70.09
87 CROP MACH COST/TOT EXPENSE(%) 29.60 30.84
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 1408 68 460 60 1065 64 1485 53 527 42 1109 51
89 NON-IRRIGATED CROP ACRES 717 68 317 58 482 63 1010 53 412 41 732 50
90 IRRIGATED CROP ACRES 110 5 99 5 207 8 187 6
91 TOTAL CROP ACRES 725 68 318 58 490 63 1041 53 425 41 754 50
92 PASTURE ACRES 888 52 214 42 827 45 585 40 152 30 523 36
93 FARMSTEAD ACRES 32 7 30 6
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 725 737 1041 1073
95 CROP MACHINERY INVESTMENT 96,747 133.35 131.23 129,877 124.78 121.01
96 CROP MACHINERY COST 40,014 55.16 54.28 59,660 57.32 55.59
97 GROSS CROP VALUE 131,611 181.41 178.52 198,026 190.25 184.51
98 CROP PRODUCTION COSTS 90,905 125.30 123.31 145,446 139.73 135.52
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 23 99 83 130.3 73 127.1 24 161 94 138.6 124 128.6
100 GRAIN SORGHUM 62 165 88 98.2 119 94.1 48 230 109 95.2 177 93.7
101 SOYBEANS 43 139 74 35.6 105 35.0 43 166 112 35.5 119 37.8
102 SUNFLOWERS
103 WHEAT 67 326 133 48.2 246 47.0 53 471 189 47.7 344 48.6
104 OTHER CROPS 6 23 10 25 6 62
105 ALFALFA 48 74 59 3.5 68 3.2 33 88 51 3.2 82 3.8
106 OTHER HAY & FORAGE 54 100 60 77 41 115 57 90
107 VEGETABLES
108 TRUCK CROPS
109 FRUIT - FLOWERS - TREES
IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
110 CORN 4 125 121 194.6
111 GRAIN SORGHUM
112 SOYBEANS 5 64 54 46.8 5 127 100 53.3
113 SUNFLOWERS
114 WHEAT
115 OTHER CROPS
116 ALFALFA
117 OTHER HAY & FORAGE
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 34 29
122 DAIRY COWS 3 2
123 EWES 3 1
124 SOWS 1 19
125 BEEF PURCHASED FOR RESALE SALES 110 131
126 SWINE PURCHASED FOR RESALE SALES 39
127 TURKEYS
%%ISCC CHANGE_OVERLAY SUMMF2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NC
INCOME AND EXPENSE ANALYSIS
**BY ACRES *** 1201 - 1500 *** *** 1501 - 1800 ***
33 FARMS 19 FARMS
ITEM PER FARM PER FARM
1 BEEF 111,389 63,862
2 DAIRY AND MILK 12,069 35-
3 SHEEP
4 SWINE 5,392
5 POULTRY AND EGGS 4
6 OTHER LIVESTOCK 2,780- 50-
7 CUSTOM FEEDING 23
8 FEED PURCHASED 40,700- 6,587-
9 LIVESTOCK INCOME $85,371 $57,217
10 CORN 9,594 15,194
11 GRAIN SORGHUM 32,517 40,320
12 SOYBEANS 29,600 39,729
13 SUNFLOWERS 3,165 2,851
14 WHEAT 75,655 94,690
15 HAY AND FORAGE 15,727 7,054
16 OTHER CROP 3,196 700-
17 GOVERNMENT PAYMENTS 30,892 32,199
18 CROP INSURANCE PROCEEDS 6,147 3,086
19 OTHER INCOME 18,309 10,478
20 VALUE OF FARM PRODUCTION $310,174 $302,116
21 HIRED LABOR 11,976 13,785
22 MACHINERY REPAIRS 23,840 24,970
23 IRRIGATION REPAIRS 540 572
24 BUILDING REPAIRS 2,438 1,313
25 INTEREST PAID 19,064 16,911
26 SEED-OTHER CROP EXPENSE 15,727 17,026
27 CROP INSURANCE 6,310 8,070
28 FERTILIZER-LIME 34,971 39,932
29 MACHINE HIRE 12,782 11,154
30 ORGANIZATION FEE, PUBLICATION 3,116 2,182
31 VET-MED-DRUGS 5,111 2,219
32 CROP STORAGE-MARKETING 2,403 1,332
33 LIVESTOCK MARKETING-BREEDING 1,997 671
34 DAIRY EXPENSE 835
35 GAS-FUEL-OIL 15,391 15,255
36 IRRIGATION ENERGY 218 112
37 REAL ESTATE TAXES 4,949 4,183
38 PERSONAL PROPERTY TAXES 1,023 593
39 GENERAL FARM INSURANCE 4,967 4,407
40 UTILITIES 3,847 2,669
41 CASH FARM RENT 22,400 19,277
42 HERBICIDE-INSECTICIDE 18,767 21,119
43 CONSERVATION 576 668
44 AUTO EXPENSE 1,301 698
45 TOTAL OPERATING EXPENSE $214,546 $209,119
46 DEPRECIATION-MACHINERY 24,179 28,487
47 DEPRECIATION-BUILDINGS 2,293 2,239
48 TOTAL FARM EXPENSE $241,017 $239,845
49 NET FARM INCOME $69,156 $62,271
50 UNPAID FAMILY LABOR 2,045 2,605
51 UNPAID OPERATOR LABOR 28,473 27,000
52 MANAGEMENT CHARGE 16,442 15,295
53 CURRENT ASSET CHARGE - 8% 13,279 12,367
54 NONCURRENT ASSET CHARGE - 8% 33,879 30,445
55 RETURN LABOR-MANAGEMENT 19,953 16,853
56 RETURN TO CAPITAL 41,260 34,282
57 ASSET TURNOVER RATIO .3398 .3591
58 OPERATING PROFIT MARGIN RATIO .1330 .1135
59 % RETURN ON ASSETS .0452 .0407
60 % RETURN ON EQUITY .0377 .0325
61 TOTAL EXPENSE RATIO .7770 .7939
62 ADJUSTED TOTAL EXPENSE RATIO .9284 .9425
63 ECONOMIC TOTAL EXPENSE RATIO 1.0805 1.0842
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 289,310 326,061 239,820 257,417
65 NONCURRENT ASSETS 579,455 630,739 579,367 606,220
66 CURRENT LIABILITIES 144,322 139,078 87,724 100,331
67 NONCURRENT LIABILITIES 161,997 201,224 200,373 224,079
68 CURRENT RATIO 2.00 2.34 2.73 2.57
69 DEBT TO ASSET RATIO .35 .36 .35 .38
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NC
ANALYSIS OF THE FARM BUSINESS
**BY ACRES *** 1201 - 1500 *** *** 1501 - 1800 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 75,890 51,463
71 MACHINERY AND EQUIPMENT 74,195 75,920
72 MOTOR VEHICLES & LISTED PROPERTY 116,393 145,193
73 BUILDINGS 22,892 21,809
74 OWNED LAND 378,411 333,162
75 TOTAL ASSETS 912,782 841,412
76 NET WORTH 589,471 535,159
LABOR
77 NUMBER OF OPERATORS 1.05 1.00
78 NUMBER OF WORKERS 1.55 1.43
79 TOTAL WORK DAYS 402 364
80 VALUE FARM PRODUCTION/WORKER 199,139 210,264
81 NET FARM INCOME/WORKER 44,400 43,339
PER OPERATOR BASIS
82 TOTAL ASSETS 865,569 841,412
83 VALUE OF FARM PRODUCTION 294,130 302,116
84 NET FARM INCOME 65,579 62,271
OTHER FACTORS
85 % CROP ACRES IRRIGATED 2.18 .04
86 % TILLABLE LAND 59.69 74.05
87 CROP MACH COST/TOT EXPENSE(%) 26.89 34.69
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 2277 33 651 33 1626 33 2233 19 672 16 1759 18
89 NON-IRRIGATED CROP ACRES 1330 33 424 33 906 33 1653 19 509 16 1292 18
90 IRRIGATED CROP ACRES 163 6 120 6
91 TOTAL CROP ACRES 1359 33 432 33 927 33 1653 19 509 16 1292 18
92 PASTURE ACRES 1034 29 255 28 846 27 733 15 237 11 559 15
93 FARMSTEAD ACRES
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 1359 1345 1653 1664
95 CROP MACHINERY INVESTMENT 151,098 111.15 112.37 195,973 118.54 117.77
96 CROP MACHINERY COST 64,799 47.67 48.19 83,195 50.32 49.99
97 GROSS CROP VALUE 259,489 190.89 192.97 297,874 180.18 179.00
98 CROP PRODUCTION COSTS 166,081 122.17 123.51 198,943 120.34 119.55
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 13 117 93 136.3 87 132.4 6 236 157 134.2
100 GRAIN SORGHUM 32 321 112 97.6 255 106.0 17 394 144 92.0 320 96.7
101 SOYBEANS 28 205 114 37.4 143 38.5 17 294 169 30.4 238 32.8
102 SUNFLOWERS 5 113
103 WHEAT 33 583 188 47.1 426 49.5 19 783 266 51.8 619 47.4
104 OTHER CROPS 4 96
105 ALFALFA 25 105 58 4.0 91 3.5 12 86 41 4.2 79 3.4
106 OTHER HAY & FORAGE 27 105 42 97 14 160 95 92
107 VEGETABLES
108 TRUCK CROPS
109 FRUIT - FLOWERS - TREES
IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
110 CORN
111 GRAIN SORGHUM
112 SOYBEANS 5 88 69 41.0
113 SUNFLOWERS
114 WHEAT
115 OTHER CROPS
116 ALFALFA
117 OTHER HAY & FORAGE
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 56 37
122 DAIRY COWS 4
123 EWES
124 SOWS 6
125 BEEF PURCHASED FOR RESALE SALES 210 91
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
%%ISCC CHANGE_OVERLAY SUMMF2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NC
INCOME AND EXPENSE ANALYSIS
**BY ACRES *** 1801 - 2100 *** *** 2101 - ***
13 FARMS 14 FARMS
ITEM PER FARM PER FARM
1 BEEF 93,856 137,895
2 DAIRY AND MILK 53,832 1,518-
3 SHEEP
4 SWINE
5 POULTRY AND EGGS 66
6 OTHER LIVESTOCK 1,419- 1,184
7 CUSTOM FEEDING 207 22,938
8 FEED PURCHASED 28,009- 22,269-
9 LIVESTOCK INCOME $118,533 $138,231
10 CORN 30,748 20,056
11 GRAIN SORGHUM 52,384 88,677
12 SOYBEANS 51,738 69,787
13 SUNFLOWERS 231- 2,999
14 WHEAT 121,982 175,628
15 HAY AND FORAGE 26,590 476-
16 OTHER CROP 13,510 10,314
17 GOVERNMENT PAYMENTS 49,916 59,324
18 CROP INSURANCE PROCEEDS 2,920 11,618
19 OTHER INCOME 28,164 21,114
20 VALUE OF FARM PRODUCTION $496,254 $597,273
21 HIRED LABOR 31,354 38,313
22 MACHINERY REPAIRS 39,733 45,105
23 IRRIGATION REPAIRS 455 648
24 BUILDING REPAIRS 1,392 5,925
25 INTEREST PAID 29,235 34,183
26 SEED-OTHER CROP EXPENSE 31,366 36,106
27 CROP INSURANCE 10,077 16,962
28 FERTILIZER-LIME 54,270 66,780
29 MACHINE HIRE 12,833 23,632
30 ORGANIZATION FEE, PUBLICATION 4,049 4,890
31 VET-MED-DRUGS 3,749 6,809
32 CROP STORAGE-MARKETING 5,881 1,985
33 LIVESTOCK MARKETING-BREEDING 4,511 2,546
34 DAIRY EXPENSE 5,729 5
35 GAS-FUEL-OIL 21,499 26,109
36 IRRIGATION ENERGY 333 653
37 REAL ESTATE TAXES 5,631 6,744
38 PERSONAL PROPERTY TAXES 1,623 1,741
39 GENERAL FARM INSURANCE 6,767 10,357
40 UTILITIES 7,050 11,990
41 CASH FARM RENT 53,937 67,505
42 HERBICIDE-INSECTICIDE 35,197 42,841
43 CONSERVATION 248 831
44 AUTO EXPENSE 1,193 561
45 TOTAL OPERATING EXPENSE $368,112 $453,218
46 DEPRECIATION-MACHINERY 38,255 47,505
47 DEPRECIATION-BUILDINGS 4,100 4,516
48 TOTAL FARM EXPENSE $410,467 $505,239
49 NET FARM INCOME $85,787 $92,034
50 UNPAID FAMILY LABOR 1,038 964
51 UNPAID OPERATOR LABOR 36,554 40,693
52 MANAGEMENT CHARGE 21,582 24,448
53 CURRENT ASSET CHARGE - 8% 16,955 13,587
54 NONCURRENT ASSET CHARGE - 8% 24,046 28,214
55 RETURN LABOR-MANAGEMENT 43,747 49,269
56 RETURN TO CAPITAL 55,847 60,111
57 ASSET TURNOVER RATIO .4502 .5496
58 OPERATING PROFIT MARGIN RATIO .1125 .1006
59 % RETURN ON ASSETS .0507 .0553
60 % RETURN ON EQUITY .0519 .0496
61 TOTAL EXPENSE RATIO .8271 .8459
62 ADJUSTED TOTAL EXPENSE RATIO .9464 .9566
63 ECONOMIC TOTAL EXPENSE RATIO 1.0290 1.0266
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 354,099 404,395 424,519 464,370
65 NONCURRENT ASSETS 681,240 764,884 611,970 672,587
66 CURRENT LIABILITIES 150,653 183,964 253,004 296,219
67 NONCURRENT LIABILITIES 405,732 439,248 287,980 291,235
68 CURRENT RATIO 2.35 2.20 1.68 1.57
69 DEBT TO ASSET RATIO .54 .53 .52 .52
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NC
ANALYSIS OF THE FARM BUSINESS
**BY ACRES *** 1801 - 2100 *** *** 2101 - ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 63,802 119,738
71 MACHINERY AND EQUIPMENT 121,007 141,875
72 MOTOR VEHICLES & LISTED PROPERTY 191,083 202,368
73 BUILDINGS 37,823 41,968
74 OWNED LAND 358,737 217,019
75 TOTAL ASSETS 1,102,309 1,086,723
76 NET WORTH 512,511 522,504
LABOR
77 NUMBER OF OPERATORS 1.35 1.50
78 NUMBER OF WORKERS 2.63 2.79
79 TOTAL WORK DAYS 565 672
80 VALUE FARM PRODUCTION/WORKER 188,085 213,857
81 NET FARM INCOME/WORKER 32,514 32,953
PER OPERATOR BASIS
82 TOTAL ASSETS 814,206 721,048
83 VALUE OF FARM PRODUCTION 366,551 396,295
84 NET FARM INCOME 63,365 61,065
OTHER FACTORS
85 % CROP ACRES IRRIGATED 6.71 1.71
86 % TILLABLE LAND 78.84 72.32
87 CROP MACH COST/TOT EXPENSE(%) 25.29 25.81
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 2505 13 972 8 2066 12 3848 14 1143 9 3353 13
89 NON-IRRIGATED CROP ACRES 1842 13 761 8 1488 12 2735 14 896 8 2394 13
90 IRRIGATED CROP ACRES 345 5
91 TOTAL CROP ACRES 1975 13 834 8 1583 12 2783 14 902 8 2442 13
92 PASTURE ACRES 626 11 579 10 1203 12 345 8 1168 10
93 FARMSTEAD ACRES
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 1975 2023 2783 2771
95 CROP MACHINERY INVESTMENT 258,951 131.13 127.99 274,943 98.80 99.22
96 CROP MACHINERY COST 103,796 52.56 51.30 130,425 46.87 47.07
97 GROSS CROP VALUE 406,734 205.97 201.03 522,064 187.61 188.40
98 CROP PRODUCTION COSTS 285,043 144.34 140.88 352,312 126.61 127.14
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 7 137 93 155.0 117 139.5 6 185 179 150.6
100 GRAIN SORGHUM 13 418 250 97.7 328 99.6 14 589 274 109.4 486 102.8
101 SOYBEANS 13 312 253 34.8 233 34.3 12 525 215 31.6 456 37.4
102 SUNFLOWERS
103 WHEAT 13 847 321 48.5 704 46.8 14 1286 318 50.4 1190 49.8
104 OTHER CROPS
105 ALFALFA 10 222 57 3.3 221 4.0 10 161 48 3.4 158 3.9
106 OTHER HAY & FORAGE 7 124 86 12 182 71 159
107 VEGETABLES
108 TRUCK CROPS
109 FRUIT - FLOWERS - TREES
IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
110 CORN
111 GRAIN SORGHUM
112 SOYBEANS 4 207
113 SUNFLOWERS
114 WHEAT
115 OTHER CROPS
116 ALFALFA
117 OTHER HAY & FORAGE
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 20 31
122 DAIRY COWS 13
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 159 207
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
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