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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
INCOME AND EXPENSE ANALYSIS
**BY ACRES *** - 500 *** *** 501 - 1000 ***
20 FARMS 27 FARMS
ITEM PER FARM PER FARM
1 BEEF 97,280 57,442
2 DAIRY AND MILK 25-
3 SHEEP 312 8,596
4 SWINE
5 POULTRY AND EGGS 101
6 OTHER LIVESTOCK 51 499
7 CUSTOM FEEDING 3,461 1,155
8 FEED PURCHASED 39,895- 17,526-
9 LIVESTOCK INCOME $61,184 $50,267
10 CORN 3,340 17,199
11 GRAIN SORGHUM 1,928 9,448
12 SOYBEANS 1,386 5,747
13 SUNFLOWERS 3,600
14 WHEAT 6,229 12,540
15 HAY AND FORAGE 957 2,745
16 OTHER CROP 64- 1,964
17 GOVERNMENT PAYMENTS 6,959 16,396
18 CROP INSURANCE PROCEEDS 4,462 26,266
19 OTHER INCOME 5,667 10,094
20 VALUE OF FARM PRODUCTION $92,049 $156,265
21 HIRED LABOR 5,464 5,104
22 MACHINERY REPAIRS 9,002 12,860
23 IRRIGATION REPAIRS 837 489
24 BUILDING REPAIRS 507 641
25 INTEREST PAID 7,758 14,606
26 SEED-OTHER CROP EXPENSE 2,362 5,672
27 CROP INSURANCE 1,132 4,281
28 FERTILIZER-LIME 2,662 10,261
29 MACHINE HIRE 4,026 5,032
30 ORGANIZATION FEE, PUBLICATION 1,802 2,226
31 VET-MED-DRUGS 2,552 1,390
32 CROP STORAGE-MARKETING 21 398
33 LIVESTOCK MARKETING-BREEDING 3,606 1,338
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 3,817 9,121
36 IRRIGATION ENERGY 1,861 5,904
37 REAL ESTATE TAXES 2,461 2,591
38 PERSONAL PROPERTY TAXES 259 270
39 GENERAL FARM INSURANCE 2,099 2,861
40 UTILITIES 1,674 2,027
41 CASH FARM RENT 6,999 14,668
42 HERBICIDE-INSECTICIDE 3,395 8,787
43 CONSERVATION 48 169
44 AUTO EXPENSE 1,298 1,866
45 TOTAL OPERATING EXPENSE $65,642 $112,560
46 DEPRECIATION-MACHINERY 8,554 9,555
47 DEPRECIATION-BUILDINGS 375 1,437
48 TOTAL FARM EXPENSE $74,571 $123,552
49 NET FARM INCOME $17,479 $32,713
50 UNPAID FAMILY LABOR 900 1,083
51 UNPAID OPERATOR LABOR 13,230 18,600
52 MANAGEMENT CHARGE 5,327 8,232
53 CURRENT ASSET CHARGE - 8% 8,460 7,654
54 NONCURRENT ASSET CHARGE - 8% 18,188 18,604
55 RETURN LABOR-MANAGEMENT 10,069- 5,372
56 RETURN TO CAPITAL 5,779 19,403
57 ASSET TURNOVER RATIO .1757 .2699
58 OPERATING PROFIT MARGIN RATIO .0628 .1242
59 % RETURN ON ASSETS .0110 .0335
60 % RETURN ON EQUITY .0059- .0146
61 TOTAL EXPENSE RATIO .8101 .7907
62 ADJUSTED TOTAL EXPENSE RATIO 1.0215 .9693
63 ECONOMIC TOTAL EXPENSE RATIO 1.3110 1.1373
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 176,486 226,210 162,907 174,961
65 NONCURRENT ASSETS 319,767 325,375 413,964 406,059
66 CURRENT LIABILITIES 67,619 123,566 77,478 69,042
67 NONCURRENT LIABILITIES 97,977 92,477 180,103 174,830
68 CURRENT RATIO 2.61 1.83 2.10 2.53
69 DEBT TO ASSET RATIO .33 .39 .45 .42
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY ACRES *** - 500 *** *** 501 - 1000 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 55,176 53,507
71 MACHINERY AND EQUIPMENT 26,643 34,099
72 MOTOR VEHICLES & LISTED PROPERTY 42,893 53,023
73 BUILDINGS 4,077 9,826
74 OWNED LAND 231,258 307,722
75 TOTAL ASSETS 523,919 578,946
76 NET WORTH 333,099 328,220
LABOR
77 NUMBER OF OPERATORS .49 .68
78 NUMBER OF WORKERS .60 .88
79 TOTAL WORK DAYS 71 156
80 VALUE FARM PRODUCTION/WORKER 152,147 176,534
81 NET FARM INCOME/WORKER 28,890 36,956
PER OPERATOR BASIS
82 TOTAL ASSETS 1,069,222 840,405
83 VALUE OF FARM PRODUCTION 187,856 226,837
84 NET FARM INCOME 35,671 47,487
OTHER FACTORS
85 % CROP ACRES IRRIGATED 9.99 13.54
86 % TILLABLE LAND 22.43 43.10
87 CROP MACH COST/TOT EXPENSE(%) 24.37 29.97
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 1290 20 558 16 992 17 1785 27 779 24 1229 24
89 NON-IRRIGATED CROP ACRES 326 16 291 12 246 7 665 27 348 24 401 24
90 IRRIGATED CROP ACRES 256 11 161 5 251 8
91 TOTAL CROP ACRES 362 16 310 13 250 7 769 27 381 24 484 24
92 PASTURE ACRES 1423 14 406 12 1254 12 1295 21 549 17 1051 17
93 FARMSTEAD ACRES 15 6 37 6 42 5
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 289 204 769 619
95 CROP MACHINERY INVESTMENT 40,658 140.49 199.12 75,954 98.72 122.77
96 CROP MACHINERY COST 18,176 62.80 89.01 37,027 48.13 59.85
97 GROSS CROP VALUE 29,457 91.61 129.84 89,760 116.67 145.08
98 CROP PRODUCTION COSTS 38,237 125.52 177.90 91,522 118.96 147.93
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 6 55 61 39.1 7 133 152 48.6 82 38.5
100 GRAIN SORGHUM 9 102 123 54.8 77 35.8 19 218 147 39.8 149 33.8
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 13 143 115 17.9 204 21.4 24 295 156 9.6 189 11.8
104 OTHER CROPS
105 ALFALFA 5 60 53 1.8
106 OTHER HAY & FORAGE 10 94 62 81
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 4 261
111 GRAIN SORGHUM
112 SOYBEANS 6 107 75 56.5
113 SUNFLOWERS
114 WHEAT 4 98
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
122 DAIRY COWS
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 129 13
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
%%ISCC CHANGE_OVERLAY SUMMF2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
INCOME AND EXPENSE ANALYSIS
**BY ACRES *** 1001 - 1500 *** *** 1501 - 2000 ***
43 FARMS 21 FARMS
ITEM PER FARM PER FARM
1 BEEF 35,820 51,793
2 DAIRY AND MILK
3 SHEEP
4 SWINE
5 POULTRY AND EGGS 4,987
6 OTHER LIVESTOCK 2,105- 2,502
7 CUSTOM FEEDING 3,012 1,235
8 FEED PURCHASED 5,262- 146-
9 LIVESTOCK INCOME $36,452 $55,384
10 CORN 49,174 62,953
11 GRAIN SORGHUM 7,986 5,900
12 SOYBEANS 6,284 3,045
13 SUNFLOWERS 3,777 3,152
14 WHEAT 17,435 21,643
15 HAY AND FORAGE 803 14,504
16 OTHER CROP 3,386 2,592
17 GOVERNMENT PAYMENTS 27,498 25,642
18 CROP INSURANCE PROCEEDS 37,330 51,827
19 OTHER INCOME 14,451 9,213
20 VALUE OF FARM PRODUCTION $204,576 $255,857
21 HIRED LABOR 4,531 6,832
22 MACHINERY REPAIRS 17,121 15,314
23 IRRIGATION REPAIRS 1,995 2,053
24 BUILDING REPAIRS 1,045 547
25 INTEREST PAID 16,538 11,525
26 SEED-OTHER CROP EXPENSE 11,742 13,560
27 CROP INSURANCE 7,518 8,036
28 FERTILIZER-LIME 13,962 17,887
29 MACHINE HIRE 9,640 7,501
30 ORGANIZATION FEE, PUBLICATION 2,630 2,593
31 VET-MED-DRUGS 1,213 1,712
32 CROP STORAGE-MARKETING 776 566
33 LIVESTOCK MARKETING-BREEDING 504 1,530
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 12,254 15,893
36 IRRIGATION ENERGY 13,510 21,431
37 REAL ESTATE TAXES 4,192 4,347
38 PERSONAL PROPERTY TAXES 160 353
39 GENERAL FARM INSURANCE 3,963 4,892
40 UTILITIES 2,410 2,604
41 CASH FARM RENT 12,067 14,979
42 HERBICIDE-INSECTICIDE 14,998 21,798
43 CONSERVATION 48 141
44 AUTO EXPENSE 1,370 862
45 TOTAL OPERATING EXPENSE $154,189 $176,954
46 DEPRECIATION-MACHINERY 16,673 22,858
47 DEPRECIATION-BUILDINGS 1,029 1,567
48 TOTAL FARM EXPENSE $171,890 $201,379
49 NET FARM INCOME $32,685 $54,478
50 UNPAID FAMILY LABOR 2,302 2,036
51 UNPAID OPERATOR LABOR 19,653 22,371
52 MANAGEMENT CHARGE 8,813 13,311
53 CURRENT ASSET CHARGE - 8% 9,988 15,199
54 NONCURRENT ASSET CHARGE - 8% 24,478 37,181
55 RETURN LABOR-MANAGEMENT 4,084- 63
56 RETURN TO CAPITAL 18,455 28,284
57 ASSET TURNOVER RATIO .2927 .2924
58 OPERATING PROFIT MARGIN RATIO .0902 .1105
59 % RETURN ON ASSETS .0264 .0323
60 % RETURN ON EQUITY .0044 .0256
61 TOTAL EXPENSE RATIO .8402 .7871
62 ADJUSTED TOTAL EXPENSE RATIO .9906 .9345
63 ECONOMIC TOTAL EXPENSE RATIO 1.1591 1.1392
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 197,653 204,615 252,033 271,732
65 NONCURRENT ASSETS 500,449 494,929 582,944 643,204
66 CURRENT LIABILITIES 82,255 70,305 61,030 82,763
67 NONCURRENT LIABILITIES 190,837 192,580 137,814 158,815
68 CURRENT RATIO 2.40 2.91 4.13 3.28
69 DEBT TO ASSET RATIO .39 .38 .24 .26
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY ACRES *** 1001 - 1500 *** *** 1501 - 2000 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 34,830 50,553
71 MACHINERY AND EQUIPMENT 65,041 83,204
72 MOTOR VEHICLES & LISTED PROPERTY 75,497 101,189
73 BUILDINGS 10,757 16,164
74 OWNED LAND 337,002 404,974
75 TOTAL ASSETS 698,823 874,956
76 NET WORTH 430,834 654,745
LABOR
77 NUMBER OF OPERATORS .72 .82
78 NUMBER OF WORKERS .96 1.12
79 TOTAL WORK DAYS 217 273
80 VALUE FARM PRODUCTION/WORKER 212,482 226,708
81 NET FARM INCOME/WORKER 33,949 48,272
PER OPERATOR BASIS
82 TOTAL ASSETS 960,044 1,055,982
83 VALUE OF FARM PRODUCTION 281,047 308,792
84 NET FARM INCOME 44,903 65,749
OTHER FACTORS
85 % CROP ACRES IRRIGATED 22.95 21.93
86 % TILLABLE LAND 66.80 66.43
87 CROP MACH COST/TOT EXPENSE(%) 30.66 34.34
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 1835 43 899 38 1091 41 2526 21 860 19 1835 20
89 NON-IRRIGATED CROP ACRES 945 43 403 38 666 38 1310 21 451 18 1021 19
90 IRRIGATED CROP ACRES 465 26 287 18 385 18 595 13 251 10 522 10
91 TOTAL CROP ACRES 1226 43 539 38 806 40 1678 21 590 18 1296 19
92 PASTURE ACRES 1130 23 644 21 890 14 1179 15 516 11 1334 9
93 FARMSTEAD ACRES 22 10 20 9 24 5 11 5
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 1226 1031 1678 1286
95 CROP MACHINERY INVESTMENT 129,484 105.61 125.58 174,804 104.16 135.92
96 CROP MACHINERY COST 52,701 42.99 51.11 69,145 41.20 53.76
97 GROSS CROP VALUE 157,622 128.56 152.86 203,312 121.15 158.08
98 CROP PRODUCTION COSTS 131,738 107.45 127.76 172,553 102.82 134.17
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 15 247 97 38.7 195 34.3 5 280 263 31.6
100 GRAIN SORGHUM 24 273 112 27.0 226 30.0 11 357 165 40.2 252 27.5
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 40 465 201 11.2 341 14.6 21 530 204 10.3 414 8.9
104 OTHER CROPS
105 ALFALFA 9 21 26 1.9 14 2.5 6 88 45 3.0 87 2.8
106 OTHER HAY & FORAGE 14 163 79 165 6 226 134 205
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 18 314 213 164.4 254 178.4 8 486 179 197.6 526 198.5
111 GRAIN SORGHUM 5 96 74 92.1
112 SOYBEANS 9 164 102 21.3 178 51.9
113 SUNFLOWERS 8 176 135 15.4 122 17.3
114 WHEAT 11 185 123 29.8 195 27.7 11 134 114 34.2 99 24.3
115 OTHER CROPS 5 145 76
116 ALFALFA 6 55 59 3.9
117 OTHER HAY & FORAGE 5 135 108
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 25
122 DAIRY COWS
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 3
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
%%ISCC CHANGE_OVERLAY SUMMF2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
INCOME AND EXPENSE ANALYSIS
**BY ACRES *** 2001 - 2500 *** *** 2501 - 3000 ***
19 FARMS 19 FARMS
ITEM PER FARM PER FARM
1 BEEF 138,144 62,431
2 DAIRY AND MILK
3 SHEEP 21-
4 SWINE 308- 68
5 POULTRY AND EGGS 1,474
6 OTHER LIVESTOCK 207 887-
7 CUSTOM FEEDING 1,519
8 FEED PURCHASED 49,265- 9,829-
9 LIVESTOCK INCOME $88,778 $54,755
10 CORN 92,190 105,919
11 GRAIN SORGHUM 5,024 11,277
12 SOYBEANS 11,028 21,903
13 SUNFLOWERS 4,691 14,279
14 WHEAT 23,104 20,631
15 HAY AND FORAGE 4,686 2,121
16 OTHER CROP 3,285 7,522
17 GOVERNMENT PAYMENTS 42,931 44,390
18 CROP INSURANCE PROCEEDS 76,694 70,715
19 OTHER INCOME 21,254 36,650
20 VALUE OF FARM PRODUCTION $373,666 $390,163
21 HIRED LABOR 12,685 14,351
22 MACHINERY REPAIRS 29,641 26,095
23 IRRIGATION REPAIRS 2,205 2,427
24 BUILDING REPAIRS 639 1,111
25 INTEREST PAID 22,712 21,674
26 SEED-OTHER CROP EXPENSE 22,193 25,807
27 CROP INSURANCE 14,666 17,186
28 FERTILIZER-LIME 28,333 29,374
29 MACHINE HIRE 18,354 19,576
30 ORGANIZATION FEE, PUBLICATION 4,038 3,429
31 VET-MED-DRUGS 2,509 2,058
32 CROP STORAGE-MARKETING 764 1,207
33 LIVESTOCK MARKETING-BREEDING 969 1,967
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 16,907 18,252
36 IRRIGATION ENERGY 26,110 29,041
37 REAL ESTATE TAXES 4,739 5,106
38 PERSONAL PROPERTY TAXES 307 554
39 GENERAL FARM INSURANCE 6,856 5,576
40 UTILITIES 7,577 3,193
41 CASH FARM RENT 26,919 23,105
42 HERBICIDE-INSECTICIDE 24,129 31,306
43 CONSERVATION 43 85
44 AUTO EXPENSE 812 2,036
45 TOTAL OPERATING EXPENSE $274,108 $284,517
46 DEPRECIATION-MACHINERY 24,897 30,439
47 DEPRECIATION-BUILDINGS 1,702 2,489
48 TOTAL FARM EXPENSE $300,707 $317,444
49 NET FARM INCOME $72,959 $72,718
50 UNPAID FAMILY LABOR 2,013 3,079
51 UNPAID OPERATOR LABOR 24,300 22,168
52 MANAGEMENT CHARGE 17,204 17,974
53 CURRENT ASSET CHARGE - 8% 13,962 10,375
54 NONCURRENT ASSET CHARGE - 8% 33,213 42,050
55 RETURN LABOR-MANAGEMENT 23,771 17,214
56 RETURN TO CAPITAL 52,154 51,171
57 ASSET TURNOVER RATIO .3821 .3580
58 OPERATING PROFIT MARGIN RATIO .1396 .1312
59 % RETURN ON ASSETS .0533 .0470
60 % RETURN ON EQUITY .0499 .0450
61 TOTAL EXPENSE RATIO .8047 .8136
62 ADJUSTED TOTAL EXPENSE RATIO .9212 .9244
63 ECONOMIC TOTAL EXPENSE RATIO 1.0475 1.0588
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 342,870 406,028 288,372 321,972
65 NONCURRENT ASSETS 584,446 622,262 773,317 795,751
66 CURRENT LIABILITIES 183,776 216,068 174,524 176,444
67 NONCURRENT LIABILITIES 181,248 195,139 247,468 270,357
68 CURRENT RATIO 1.87 1.88 1.65 1.82
69 DEBT TO ASSET RATIO .39 .40 .40 .40
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY ACRES *** 2001 - 2500 *** *** 2501 - 3000 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 30,388 32,024
71 MACHINERY AND EQUIPMENT 105,687 123,219
72 MOTOR VEHICLES & LISTED PROPERTY 99,790 105,484
73 BUILDINGS 16,696 23,617
74 OWNED LAND 358,962 520,528
75 TOTAL ASSETS 977,803 1,089,705
76 NET WORTH 589,687 655,309
LABOR
77 NUMBER OF OPERATORS .90 .82
78 NUMBER OF WORKERS 1.28 1.46
79 TOTAL WORK DAYS 377 390
80 VALUE FARM PRODUCTION/WORKER 289,782 266,658
81 NET FARM INCOME/WORKER 56,581 49,699
PER OPERATOR BASIS
82 TOTAL ASSETS 1,086,447 1,327,205
83 VALUE OF FARM PRODUCTION 415,184 475,198
84 NET FARM INCOME 81,066 88,567
OTHER FACTORS
85 % CROP ACRES IRRIGATED 21.02 21.70
86 % TILLABLE LAND 78.82 80.21
87 CROP MACH COST/TOT EXPENSE(%) 29.07 25.76
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 2921 19 950 14 2221 19 3360 19 1205 16 2475 18
89 NON-IRRIGATED CROP ACRES 1818 19 624 13 1391 19 2110 19 737 16 1572 18
90 IRRIGATED CROP ACRES 613 15 258 10 472 14 855 13 404 9 747 10
91 TOTAL CROP ACRES 2302 19 823 13 1739 19 2695 19 965 16 1987 18
92 PASTURE ACRES 1046 11 400 6 1138 8 1047 12 473 8 976 9
93 FARMSTEAD ACRES 42 6 40 5
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 2302 1736 2695 2019
95 CROP MACHINERY INVESTMENT 191,396 83.13 110.28 205,671 76.32 101.85
96 CROP MACHINERY COST 87,416 37.97 50.37 81,759 30.34 40.49
97 GROSS CROP VALUE 243,735 105.86 140.43 346,848 128.70 171.75
98 CROP PRODUCTION COSTS 235,638 102.35 135.77 244,278 90.64 120.96
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 11 555 308 43.8 487 41.4 8 464 270 49.1 394 67.9
100 GRAIN SORGHUM 8 260 227 31.0 11 331 338 40.2
101 SOYBEANS 4 335
102 SUNFLOWERS 4 249 249 8.8
103 WHEAT 18 785 360 5.0 545 5.9 19 821 350 10.5 614 9.7
104 OTHER CROPS
105 ALFALFA
106 OTHER HAY & FORAGE 5 116 63 5 120 58
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 9 386 179 183.2 306 202.6 11 490 253 207.8 453 195.6
111 GRAIN SORGHUM
112 SOYBEANS 8 153 98 31.3 139 29.9 9 206 125 43.3 204 44.3
113 SUNFLOWERS 6 155 117 14.2
114 WHEAT 10 298 222 28.5 10 264 135 31.3 246 29.5
115 OTHER CROPS
116 ALFALFA
117 OTHER HAY & FORAGE 6 116 88 5 199 60
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS
122 DAIRY COWS
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 300 69
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
%%ISCC CHANGE_OVERLAY SUMMF2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
INCOME AND EXPENSE ANALYSIS
**BY ACRES *** 3001 - 3500 *** *** 3501 - ***
10 FARMS 22 FARMS
ITEM PER FARM PER FARM
1 BEEF 57,138 48,561
2 DAIRY AND MILK 36-
3 SHEEP
4 SWINE 112
5 POULTRY AND EGGS 6
6 OTHER LIVESTOCK 3,140- 237-
7 CUSTOM FEEDING 6,488
8 FEED PURCHASED 23,545- 17,062-
9 LIVESTOCK INCOME $36,947 $31,337
10 CORN 149,334 203,535
11 GRAIN SORGHUM 5,294 22,229
12 SOYBEANS 16,302 16,475
13 SUNFLOWERS 20,530 4,290
14 WHEAT 13,906 35,733
15 HAY AND FORAGE 220- 2,914
16 OTHER CROP 6,401 1,877
17 GOVERNMENT PAYMENTS 61,340 87,905
18 CROP INSURANCE PROCEEDS 94,084 166,117
19 OTHER INCOME 20,973 40,361
20 VALUE OF FARM PRODUCTION $424,890 $612,774
21 HIRED LABOR 18,860 41,510
22 MACHINERY REPAIRS 26,264 40,088
23 IRRIGATION REPAIRS 5,988 7,371
24 BUILDING REPAIRS 3,183 1,787
25 INTEREST PAID 20,493 31,115
26 SEED-OTHER CROP EXPENSE 39,276 53,638
27 CROP INSURANCE 21,430 26,855
28 FERTILIZER-LIME 45,773 59,389
29 MACHINE HIRE 17,637 38,160
30 ORGANIZATION FEE, PUBLICATION 3,816 4,879
31 VET-MED-DRUGS 1,860 973
32 CROP STORAGE-MARKETING 745 5,803
33 LIVESTOCK MARKETING-BREEDING 1,969 377
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 24,112 28,731
36 IRRIGATION ENERGY 38,216 43,793
37 REAL ESTATE TAXES 5,576 6,504
38 PERSONAL PROPERTY TAXES 210 202
39 GENERAL FARM INSURANCE 8,802 10,337
40 UTILITIES 4,128 5,042
41 CASH FARM RENT 18,373 38,663
42 HERBICIDE-INSECTICIDE 56,341 50,766
43 CONSERVATION 516 595
44 AUTO EXPENSE 1,434 1,644
45 TOTAL OPERATING EXPENSE $365,002 $498,224
46 DEPRECIATION-MACHINERY 38,732 40,699
47 DEPRECIATION-BUILDINGS 3,602 2,748
48 TOTAL FARM EXPENSE $407,336 $541,671
49 NET FARM INCOME $17,554 $71,103
50 UNPAID FAMILY LABOR 3,375 2,455
51 UNPAID OPERATOR LABOR 22,680 23,073
52 MANAGEMENT CHARGE 10,112 20,302
53 CURRENT ASSET CHARGE - 8% 11,004 19,488
54 NONCURRENT ASSET CHARGE - 8% 63,771 50,327
55 RETURN LABOR-MANAGEMENT 60,597- 1,166-
56 RETURN TO CAPITAL 1,880 56,389
57 ASSET TURNOVER RATIO .3093 .4173
58 OPERATING PROFIT MARGIN RATIO .0044 .0920
59 % RETURN ON ASSETS .0014 .0384
60 % RETURN ON EQUITY .0199- .0290
61 TOTAL EXPENSE RATIO .9587 .8840
62 ADJUSTED TOTAL EXPENSE RATIO 1.0438 .9588
63 ECONOMIC TOTAL EXPENSE RATIO 1.2198 1.0727
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 362,107 339,061 385,543 371,403
65 NONCURRENT ASSETS 992,327 1,053,923 1,032,880 1,147,288
66 CURRENT LIABILITIES 219,015 207,054 127,854 141,901
67 NONCURRENT LIABILITIES 212,340 239,624 420,794 501,192
68 CURRENT RATIO 1.65 1.64 3.02 2.62
69 DEBT TO ASSET RATIO .32 .32 .39 .42
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY ACRES *** 3001 - 3500 *** *** 3501 - ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 30,712 38,240
71 MACHINERY AND EQUIPMENT 152,638 157,993
72 MOTOR VEHICLES & LISTED PROPERTY 143,353 162,369
73 BUILDINGS 30,787 25,548
74 OWNED LAND 682,235 657,720
75 TOTAL ASSETS 1,373,709 1,468,557
76 NET WORTH 934,693 872,687
LABOR
77 NUMBER OF OPERATORS .84 .85
78 NUMBER OF WORKERS 1.32 2.03
79 TOTAL WORK DAYS 487 643
80 VALUE FARM PRODUCTION/WORKER 321,886 300,916
81 NET FARM INCOME/WORKER 13,298 34,917
PER OPERATOR BASIS
82 TOTAL ASSETS 1,635,368 1,718,524
83 VALUE OF FARM PRODUCTION 505,821 717,076
84 NET FARM INCOME 20,897 83,206
OTHER FACTORS
85 % CROP ACRES IRRIGATED 20.90 15.94
86 % TILLABLE LAND 79.52 88.40
87 CROP MACH COST/TOT EXPENSE(%) 29.71 28.59
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 3989 10 1362 10 2626 10 4796 22 1660 17 3513 22
89 NON-IRRIGATED CROP ACRES 2508 10 840 10 1668 10 4018 22 1267 17 3039 22
90 IRRIGATED CROP ACRES 829 8 330 5 623 8 991 15 516 7 804 14
91 TOTAL CROP ACRES 3172 10 1005 10 2167 10 4240 22 1479 17 3096 22
92 PASTURE ACRES 1609 5 709 5 1208 10 326 9 1306 7
93 FARMSTEAD ACRES 23 7 19 7
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 3172 2594 4240 3667
95 CROP MACHINERY INVESTMENT 288,712 91.02 111.29 314,237 74.12 85.68
96 CROP MACHINERY COST 121,029 38.16 46.65 154,876 36.53 42.23
97 GROSS CROP VALUE 401,757 126.66 154.87 515,152 121.51 140.47
98 CROP PRODUCTION COSTS 367,374 115.82 141.61 466,674 110.08 127.25
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 7 908 215 36.6 692 39.5 17 1097 435 27.6 841 38.3
100 GRAIN SORGHUM 6 434 216 25.0 290 34.4 11 947 390 18.8 663 23.0
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 10 940 320 3.1 683 6.2 22 1461 522 5.0 1081 7.7
104 OTHER CROPS 4 113
105 ALFALFA
106 OTHER HAY & FORAGE 4 99 5 108
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 6 618 481 210.8 11 792 326 200.1 614 191.5
111 GRAIN SORGHUM 4 238 193 91.6
112 SOYBEANS 5 220 187 51.0 8 201 151 47.6 202 36.6
113 SUNFLOWERS
114 WHEAT 6 179 76 16.6 129 27.1 9 316 154 32.8 346 31.0
115 OTHER CROPS
116 ALFALFA
117 OTHER HAY & FORAGE 6 166 168
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS
122 DAIRY COWS
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 109 48
126 SWINE PURCHASED FOR RESALE SALES 1
127 TURKEYS
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