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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NC
INCOME AND EXPENSE ANALYSIS
**BY VALUE OF FARM PRODUCTION *** - 100000 *** *** 100001 - 250000 ***
36 FARMS 135 FARMS
ITEM PER FARM PER FARM
1 BEEF 19,400 50,279
2 DAIRY AND MILK 2,620 5,060
3 SHEEP 248 389
4 SWINE 5,448 7,258
5 POULTRY AND EGGS 4- 3
6 OTHER LIVESTOCK 128 254-
7 CUSTOM FEEDING 367 1,200
8 FEED PURCHASED 7,172- 14,861-
9 LIVESTOCK INCOME $21,034 $49,074
10 CORN 1,471 4,696
11 GRAIN SORGHUM 8,327 20,189
12 SOYBEANS 4,932 13,744
13 SUNFLOWERS 63 469
14 WHEAT 18,887 45,108
15 HAY AND FORAGE 984 4,709
16 OTHER CROP 1,095 1,253
17 GOVERNMENT PAYMENTS 7,350 16,774
18 CROP INSURANCE PROCEEDS 490 2,645
19 OTHER INCOME 2,944 5,597
20 VALUE OF FARM PRODUCTION $67,578 $164,257
21 HIRED LABOR 1,130 3,135
22 MACHINERY REPAIRS 8,136 13,795
23 IRRIGATION REPAIRS 63 185
24 BUILDING REPAIRS 520 1,406
25 INTEREST PAID 5,512 9,323
26 SEED-OTHER CROP EXPENSE 3,105 7,977
27 CROP INSURANCE 1,386 3,195
28 FERTILIZER-LIME 7,107 19,879
29 MACHINE HIRE 1,558 5,679
30 ORGANIZATION FEE, PUBLICATION 1,258 2,173
31 VET-MED-DRUGS 1,135 2,387
32 CROP STORAGE-MARKETING 379 889
33 LIVESTOCK MARKETING-BREEDING 595 1,874
34 DAIRY EXPENSE 96 262
35 GAS-FUEL-OIL 5,198 9,176
36 IRRIGATION ENERGY 52 106
37 REAL ESTATE TAXES 1,961 3,627
38 PERSONAL PROPERTY TAXES 395 559
39 GENERAL FARM INSURANCE 2,080 3,040
40 UTILITIES 2,190 3,040
41 CASH FARM RENT 4,339 11,050
42 HERBICIDE-INSECTICIDE 2,794 9,601
43 CONSERVATION 132 184
44 AUTO EXPENSE 1,344 1,267
45 TOTAL OPERATING EXPENSE $52,465 $113,809
46 DEPRECIATION-MACHINERY 5,717 13,565
47 DEPRECIATION-BUILDINGS 748 1,067
48 TOTAL FARM EXPENSE $58,930 $128,441
49 NET FARM INCOME $8,647 $35,815
50 UNPAID FAMILY LABOR 813 1,100
51 UNPAID OPERATOR LABOR 18,975 25,160
52 MANAGEMENT CHARGE 3,378 9,109
53 CURRENT ASSET CHARGE - 8% 4,640 8,442
54 NONCURRENT ASSET CHARGE - 8% 13,452 20,997
55 RETURN LABOR-MANAGEMENT 10,257- 5,276
56 RETURN TO CAPITAL 9,006- 9,770
57 ASSET TURNOVER RATIO .2044 .2992
58 OPERATING PROFIT MARGIN RATIO .1333- .0595
59 % RETURN ON ASSETS .0272- .0178
60 % RETURN ON EQUITY .0642- .0012
61 TOTAL EXPENSE RATIO .8720 .7820
62 ADJUSTED TOTAL EXPENSE RATIO 1.2148 .9973
63 ECONOMIC TOTAL EXPENSE RATIO 1.4826 1.1765
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 85,318 91,180 158,259 174,645
65 NONCURRENT ASSETS 237,688 246,989 369,896 395,042
66 CURRENT LIABILITIES 30,174 30,312 60,626 61,221
67 NONCURRENT LIABILITIES 70,014 78,371 112,795 127,216
68 CURRENT RATIO 2.83 3.01 2.61 2.85
69 DEBT TO ASSET RATIO .31 .32 .33 .33
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NC
ANALYSIS OF THE FARM BUSINESS
**BY VALUE OF FARM PRODUCTION *** - 100000 *** *** 100001 - 250000 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 25,162 45,423
71 MACHINERY AND EQUIPMENT 19,609 42,390
72 MOTOR VEHICLES & LISTED PROPERTY 36,033 72,362
73 BUILDINGS 7,858 9,989
74 OWNED LAND 171,107 242,993
75 TOTAL ASSETS 330,588 548,921
76 NET WORTH 226,152 367,992
LABOR
77 NUMBER OF OPERATORS .70 .93
78 NUMBER OF WORKERS .78 1.10
79 TOTAL WORK DAYS 108 220
80 VALUE FARM PRODUCTION/WORKER 85,662 149,123
81 NET FARM INCOME/WORKER 10,961 32,516
PER OPERATOR BASIS
82 TOTAL ASSETS 470,402 589,065
83 VALUE OF FARM PRODUCTION 96,158 176,269
84 NET FARM INCOME 12,304 38,435
OTHER FACTORS
85 % CROP ACRES IRRIGATED 3.96 1.22
86 % TILLABLE LAND 54.58 60.67
87 CROP MACH COST/TOT EXPENSE(%) 33.32 32.67
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 700 35 304 32 461 32 1324 135 465 119 965 128
89 NON-IRRIGATED CROP ACRES 367 35 168 31 254 30 794 135 334 113 551 126
90 IRRIGATED CROP ACRES 121 11 112 9
91 TOTAL CROP ACRES 382 35 178 31 253 31 803 135 336 113 559 126
92 PASTURE ACRES 424 26 207 20 328 21 656 106 190 88 561 94
93 FARMSTEAD ACRES 54 15 44 12 40 7
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 371 358 803 807
95 CROP MACHINERY INVESTMENT 43,342 116.73 120.99 98,860 123.05 122.44
96 CROP MACHINERY COST 19,635 52.88 54.81 41,966 52.23 51.97
97 GROSS CROP VALUE 60,982 159.68 165.50 137,207 170.78 169.93
98 CROP PRODUCTION COSTS 43,005 112.60 116.71 96,880 120.58 119.99
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 6 46 30 137.8 37 104 86 128.8 72 127.9
100 GRAIN SORGHUM 25 93 45 81.8 78 81.9 122 200 91 93.6 153 92.4
101 SOYBEANS 18 63 35 33.5 56 35.0 95 129 76 37.5 94 36.3
102 SUNFLOWERS 4 110
103 WHEAT 31 197 93 48.3 140 47.1 130 379 157 46.6 280 46.7
104 OTHER CROPS 16 49 59 34
105 ALFALFA 24 39 28 3.7 39 3.3 92 73 50 3.3 64 3.3
106 OTHER HAY & FORAGE 24 65 53 41 106 91 50 73
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 5 41 43 173.0
111 GRAIN SORGHUM 7 67 59 120.9
112 SOYBEANS 8 65 49 46.5
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 15 33
122 DAIRY COWS 1 1
123 EWES 4 2
124 SOWS 2 5
125 BEEF PURCHASED FOR RESALE SALES 17 39
126 SWINE PURCHASED FOR RESALE SALES 20
127 TURKEYS
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NC
INCOME AND EXPENSE ANALYSIS
**BY VALUE OF FARM PRODUCTION *** 250001 - 500000 *** *** 500001 - ***
81 FARMS 18 FARMS
ITEM PER FARM PER FARM
1 BEEF 95,768 443,371
2 DAIRY AND MILK 44,055 37,700
3 SHEEP
4 SWINE 7,930
5 POULTRY AND EGGS 12
6 OTHER LIVESTOCK 1,090- 348-
7 CUSTOM FEEDING 1,072 17,934
8 FEED PURCHASED 31,113- 230,213-
9 LIVESTOCK INCOME $116,634 $268,444
10 CORN 18,422 30,819
11 GRAIN SORGHUM 30,012 69,188
12 SOYBEANS 36,262 57,254
13 SUNFLOWERS 1,497 766
14 WHEAT 79,095 128,945
15 HAY AND FORAGE 8,252 44,414
16 OTHER CROP 1,596 15,988
17 GOVERNMENT PAYMENTS 30,733 56,551
18 CROP INSURANCE PROCEEDS 2,768 10,806
19 OTHER INCOME 14,967 37,716
20 VALUE OF FARM PRODUCTION $340,237 $720,892
21 HIRED LABOR 17,906 46,180
22 MACHINERY REPAIRS 26,936 45,185
23 IRRIGATION REPAIRS 330 1,325
24 BUILDING REPAIRS 2,286 6,362
25 INTEREST PAID 21,656 37,937
26 SEED-OTHER CROP EXPENSE 17,405 34,087
27 CROP INSURANCE 7,399 12,082
28 FERTILIZER-LIME 36,667 63,211
29 MACHINE HIRE 12,253 34,159
30 ORGANIZATION FEE, PUBLICATION 3,199 5,953
31 VET-MED-DRUGS 5,985 12,041
32 CROP STORAGE-MARKETING 1,676 4,500
33 LIVESTOCK MARKETING-BREEDING 5,894 7,507
34 DAIRY EXPENSE 4,601 4,138
35 GAS-FUEL-OIL 15,324 27,671
36 IRRIGATION ENERGY 258 755
37 REAL ESTATE TAXES 4,610 7,824
38 PERSONAL PROPERTY TAXES 918 2,112
39 GENERAL FARM INSURANCE 5,225 11,695
40 UTILITIES 5,290 11,463
41 CASH FARM RENT 25,583 72,621
42 HERBICIDE-INSECTICIDE 18,227 37,753
43 CONSERVATION 550 702
44 AUTO EXPENSE 1,055 535
45 TOTAL OPERATING EXPENSE $241,234 $487,800
46 DEPRECIATION-MACHINERY 26,388 49,251
47 DEPRECIATION-BUILDINGS 3,517 5,643
48 TOTAL FARM EXPENSE $271,139 $542,693
49 NET FARM INCOME $69,098 $178,198
50 UNPAID FAMILY LABOR 1,472 2,250
51 UNPAID OPERATOR LABOR 30,200 42,000
52 MANAGEMENT CHARGE 16,917 40,260
53 CURRENT ASSET CHARGE - 8% 11,751 37,519
54 NONCURRENT ASSET CHARGE - 8% 30,894 36,516
55 RETURN LABOR-MANAGEMENT 24,981 101,914
56 RETURN TO CAPITAL 42,165 131,626
57 ASSET TURNOVER RATIO .3716 .4110
58 OPERATING PROFIT MARGIN RATIO .1239 .1826
59 % RETURN ON ASSETS .0461 .0750
60 % RETURN ON EQUITY .0385 .1012
61 TOTAL EXPENSE RATIO .7969 .7528
62 ADJUSTED TOTAL EXPENSE RATIO .9397 .8700
63 ECONOMIC TOTAL EXPENSE RATIO 1.0651 .9727
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 301,819 329,473 840,810 991,721
65 NONCURRENT ASSETS 581,739 618,198 790,133 885,038
66 CURRENT LIABILITIES 162,820 174,704 404,436 490,125
67 NONCURRENT LIABILITIES 204,052 223,529 384,082 378,190
68 CURRENT RATIO 1.85 1.89 2.08 2.02
69 DEBT TO ASSET RATIO .42 .42 .48 .46
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NC
ANALYSIS OF THE FARM BUSINESS
**BY VALUE OF FARM PRODUCTION *** 250001 - 500000 *** *** 500001 - ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 80,560 150,170
71 MACHINERY AND EQUIPMENT 77,154 151,393
72 MOTOR VEHICLES & LISTED PROPERTY 128,599 218,618
73 BUILDINGS 30,984 52,599
74 OWNED LAND 343,193 365,069
75 TOTAL ASSETS 915,615 1,753,851
76 NET WORTH 533,062 925,434
LABOR
77 NUMBER OF OPERATORS 1.11 1.55
78 NUMBER OF WORKERS 1.74 3.34
79 TOTAL WORK DAYS 427 714
80 VALUE FARM PRODUCTION/WORKER 195,040 215,549
81 NET FARM INCOME/WORKER 39,611 53,282
PER OPERATOR BASIS
82 TOTAL ASSETS 818,596 1,127,476
83 VALUE OF FARM PRODUCTION 304,186 463,431
84 NET FARM INCOME 61,777 114,556
OTHER FACTORS
85 % CROP ACRES IRRIGATED 2.49 4.22
86 % TILLABLE LAND 66.67 58.81
87 CROP MACH COST/TOT EXPENSE(%) 27.54 21.61
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 2052 81 634 66 1615 77 3844 17 1348 10 3242 16
89 NON-IRRIGATED CROP ACRES 1334 81 452 65 1035 76 2165 17 868 10 1758 16
90 IRRIGATED CROP ACRES 184 15 147 8 132 12 325 5 305 5
91 TOTAL CROP ACRES 1368 81 471 65 1056 76 2261 17 878 10 1853 16
92 PASTURE ACRES 835 66 243 45 712 62 1907 14 517 9 2005 11
93 FARMSTEAD ACRES
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 1368 1379 2135 2253
95 CROP MACHINERY INVESTMENT 165,247 120.78 119.82 281,389 131.79 124.88
96 CROP MACHINERY COST 74,663 54.57 54.14 117,266 54.92 52.04
97 GROSS CROP VALUE 270,943 198.03 196.46 498,967 220.71 209.14
98 CROP PRODUCTION COSTS 183,028 133.78 132.72 330,683 154.87 146.75
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 43 142 98 147.8 120 136.3 8 196 188 147.1
100 GRAIN SORGHUM 70 300 129 101.0 247 102.9 17 499 325 101.5 420 101.0
101 SOYBEANS 67 253 163 34.6 189 36.9 16 401 153 32.3 399 39.9
102 SUNFLOWERS 10 96 66 21.2 106 14.8
103 WHEAT 78 633 207 51.3 515 50.8 17 884 288 50.1 810 49.0
104 OTHER CROPS 5 41
105 ALFALFA 60 104 59 4.0 94 3.8 15 247 96 4.1 275 4.0
106 OTHER HAY & FORAGE 64 127 54 105 13 247 256 168
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 7 107 102 185.5 4 214
111 GRAIN SORGHUM
112 SOYBEANS 10 137 100 60.2 97 44.3 5 188 188 49.4
113 SUNFLOWERS
114 WHEAT
115 OTHER CROPS
116 ALFALFA
117 OTHER HAY & FORAGE 4 57 38
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 39 44
122 DAIRY COWS 11 10
123 EWES
124 SOWS 13
125 BEEF PURCHASED FOR RESALE SALES 203 962
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
%%ISCC CHANGE_OVERLAY SUMMF2003
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