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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
INCOME AND EXPENSE ANALYSIS
**BY CAPITAL MANAGED *** - 500000 *** *** 500001 - 750000 ***
18 FARMS 20 FARMS
ITEM PER FARM PER FARM
1 BEEF 13,752 34,794
2 DAIRY AND MILK 28-
3 SHEEP 30
4 SWINE 11
5 POULTRY AND EGGS
6 OTHER LIVESTOCK 165 39-
7 CUSTOM FEEDING 2,486
8 FEED PURCHASED 1,501- 5,997-
9 LIVESTOCK INCOME $12,389 $31,285
10 CORN 24,515 21,581
11 GRAIN SORGHUM 13,971 3,529
12 SOYBEANS 6,660 6,541
13 SUNFLOWERS 1,182 2,021
14 WHEAT 9,963 14,679
15 HAY AND FORAGE 1,118 1,039
16 OTHER CROP 7 118
17 GOVERNMENT PAYMENTS 16,351 18,043
18 CROP INSURANCE PROCEEDS 23,638 33,030
19 OTHER INCOME 7,974 11,634
20 VALUE OF FARM PRODUCTION $117,767 $143,499
21 HIRED LABOR 2,004 589
22 MACHINERY REPAIRS 6,729 14,587
23 IRRIGATION REPAIRS 670 1,546
24 BUILDING REPAIRS 709 660
25 INTEREST PAID 6,122 8,740
26 SEED-OTHER CROP EXPENSE 7,826 7,759
27 CROP INSURANCE 3,049 4,897
28 FERTILIZER-LIME 9,260 8,912
29 MACHINE HIRE 6,205 5,968
30 ORGANIZATION FEE, PUBLICATION 1,067 1,888
31 VET-MED-DRUGS 218 856
32 CROP STORAGE-MARKETING 321 1,061
33 LIVESTOCK MARKETING-BREEDING 89 619
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 3,966 8,266
36 IRRIGATION ENERGY 8,189 7,704
37 REAL ESTATE TAXES 1,574 2,924
38 PERSONAL PROPERTY TAXES 407 98
39 GENERAL FARM INSURANCE 1,472 2,933
40 UTILITIES 1,206 1,901
41 CASH FARM RENT 10,364 7,131
42 HERBICIDE-INSECTICIDE 8,717 10,759
43 CONSERVATION 125 31
44 AUTO EXPENSE 863 1,242
45 TOTAL OPERATING EXPENSE $81,152 $101,070
46 DEPRECIATION-MACHINERY 8,597 10,870
47 DEPRECIATION-BUILDINGS 812 771
48 TOTAL FARM EXPENSE $90,560 $112,711
49 NET FARM INCOME $27,207 $30,788
50 UNPAID FAMILY LABOR 1,500 675
51 UNPAID OPERATOR LABOR 12,750 19,575
52 MANAGEMENT CHARGE 5,719 7,211
53 CURRENT ASSET CHARGE - 8% 2,838 6,917
54 NONCURRENT ASSET CHARGE - 8% 9,041 20,681
55 RETURN LABOR-MANAGEMENT 13,827 2,516
56 RETURN TO CAPITAL 13,360 12,068
57 ASSET TURNOVER RATIO .4437 .3133
58 OPERATING PROFIT MARGIN RATIO .1134 .0841
59 % RETURN ON ASSETS .0503 .0263
60 % RETURN ON EQUITY .0487 .0096
61 TOTAL EXPENSE RATIO .7690 .7854
62 ADJUSTED TOTAL EXPENSE RATIO .9385 .9768
63 ECONOMIC TOTAL EXPENSE RATIO 1.0394 1.1691
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 53,210 65,298 118,879 118,333
65 NONCURRENT ASSETS 202,863 209,461 334,297 344,606
66 CURRENT LIABILITIES 26,013 21,540 28,939 35,355
67 NONCURRENT LIABILITIES 91,469 94,819 77,506 84,380
68 CURRENT RATIO 2.05 3.03 4.11 3.35
69 DEBT TO ASSET RATIO .46 .42 .23 .26
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY CAPITAL MANAGED *** - 500000 *** *** 500001 - 750000 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 8,564 30,032
71 MACHINERY AND EQUIPMENT 22,910 37,964
72 MOTOR VEHICLES & LISTED PROPERTY 36,163 60,739
73 BUILDINGS 5,966 7,344
74 OWNED LAND 138,270 228,395
75 TOTAL ASSETS 265,416 458,058
76 NET WORTH 148,495 344,967
LABOR
77 NUMBER OF OPERATORS .47 .72
78 NUMBER OF WORKERS .60 .83
79 TOTAL WORK DAYS 116 151
80 VALUE FARM PRODUCTION/WORKER 196,278 172,891
81 NET FARM INCOME/WORKER 45,345 37,094
PER OPERATOR BASIS
82 TOTAL ASSETS 562,057 631,803
83 VALUE OF FARM PRODUCTION 249,388 197,930
84 NET FARM INCOME 57,614 42,467
OTHER FACTORS
85 % CROP ACRES IRRIGATED 15.31 11.11
86 % TILLABLE LAND 74.71 74.04
87 CROP MACH COST/TOT EXPENSE(%) 29.98 36.58
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 1119 18 515 12 998 14 1433 20 536 17 1028 19
89 NON-IRRIGATED CROP ACRES 750 17 398 12 797 10 943 20 348 16 738 18
90 IRRIGATED CROP ACRES 295 8 146 6
91 TOTAL CROP ACRES 885 17 398 12 1028 10 1061 20 403 16 820 18
92 PASTURE ACRES 505 10 230 6 525 7 658 11 275 9 595 8
93 FARMSTEAD ACRES 40 5
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 836 661 1061 774
95 CROP MACHINERY INVESTMENT 57,117 68.31 86.35 93,933 88.56 121.32
96 CROP MACHINERY COST 27,147 32.47 41.04 41,233 38.87 53.25
97 GROSS CROP VALUE 76,421 91.39 115.53 84,068 79.26 108.58
98 CROP PRODUCTION COSTS 77,997 88.10 111.37 93,378 88.03 120.60
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 5 321 148 42.1 5 410 320 40.3
100 GRAIN SORGHUM 12 269 179 56.7 282 29.3 13 188 102 23.3 143 30.0
101 SOYBEANS 4 75
102 SUNFLOWERS
103 WHEAT 15 313 143 12.7 487 11.2 20 371 143 10.5 311 13.4
104 OTHER CROPS
105 ALFALFA 4 68
106 OTHER HAY & FORAGE 5 109 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
111 GRAIN SORGHUM
112 SOYBEANS 6 141 127 37.7
113 SUNFLOWERS
114 WHEAT 4 128
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
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 CAPITAL MANAGED *** 750001 - 1000000 *** *** 1000001 - 1375000 ***
22 FARMS 25 FARMS
ITEM PER FARM PER FARM
1 BEEF 29,650 75,974
2 DAIRY AND MILK
3 SHEEP 283 9,259
4 SWINE
5 POULTRY AND EGGS 9,826 25
6 OTHER LIVESTOCK 3,080- 2,041
7 CUSTOM FEEDING 431 1,190
8 FEED PURCHASED 12,279- 7,088-
9 LIVESTOCK INCOME $24,832 $81,402
10 CORN 4,869 30,489
11 GRAIN SORGHUM 6,420 12,287
12 SOYBEANS 2,020 6,401
13 SUNFLOWERS 2,881 2,728
14 WHEAT 14,130 15,869
15 HAY AND FORAGE 3,600 671-
16 OTHER CROP 86- 831
17 GOVERNMENT PAYMENTS 17,587 24,851
18 CROP INSURANCE PROCEEDS 37,395 44,469
19 OTHER INCOME 10,379 15,394
20 VALUE OF FARM PRODUCTION $124,026 $234,049
21 HIRED LABOR 5,266 10,068
22 MACHINERY REPAIRS 13,266 16,712
23 IRRIGATION REPAIRS 807 1,374
24 BUILDING REPAIRS 676 857
25 INTEREST PAID 7,263 9,515
26 SEED-OTHER CROP EXPENSE 6,320 10,000
27 CROP INSURANCE 5,361 6,939
28 FERTILIZER-LIME 10,302 15,655
29 MACHINE HIRE 4,551 6,233
30 ORGANIZATION FEE, PUBLICATION 2,854 2,480
31 VET-MED-DRUGS 1,375 1,914
32 CROP STORAGE-MARKETING 69 131
33 LIVESTOCK MARKETING-BREEDING 955 1,778
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 10,384 11,326
36 IRRIGATION ENERGY 3,108 8,791
37 REAL ESTATE TAXES 3,246 3,262
38 PERSONAL PROPERTY TAXES 180 141
39 GENERAL FARM INSURANCE 2,651 4,032
40 UTILITIES 2,373 2,609
41 CASH FARM RENT 11,817 25,001
42 HERBICIDE-INSECTICIDE 10,451 16,156
43 CONSERVATION 63 151
44 AUTO EXPENSE 1,296 1,671
45 TOTAL OPERATING EXPENSE $104,633 $156,797
46 DEPRECIATION-MACHINERY 9,604 17,365
47 DEPRECIATION-BUILDINGS 844 1,451
48 TOTAL FARM EXPENSE $115,081 $175,613
49 NET FARM INCOME $8,945 $58,436
50 UNPAID FAMILY LABOR 1,841 1,980
51 UNPAID OPERATOR LABOR 18,532 22,248
52 MANAGEMENT CHARGE 4,169 13,285
53 CURRENT ASSET CHARGE - 8% 6,505 14,699
54 NONCURRENT ASSET CHARGE - 8% 17,696 20,065
55 RETURN LABOR-MANAGEMENT 17,097- 21,692
56 RETURN TO CAPITAL 8,334- 30,437
57 ASSET TURNOVER RATIO .2536 .3691
58 OPERATING PROFIT MARGIN RATIO .0672- .1300
59 % RETURN ON ASSETS .0170- .0480
60 % RETURN ON EQUITY .0516- .0481
61 TOTAL EXPENSE RATIO .9279 .7503
62 ADJUSTED TOTAL EXPENSE RATIO 1.1258 .9106
63 ECONOMIC TOTAL EXPENSE RATIO 1.3209 1.0591
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 120,890 118,933 231,586 262,333
65 NONCURRENT ASSETS 367,752 370,516 383,219 391,041
66 CURRENT LIABILITIES 44,734 32,454 49,925 76,524
67 NONCURRENT LIABILITIES 151,024 144,853 143,117 129,507
68 CURRENT RATIO 2.70 3.66 4.64 3.43
69 DEBT TO ASSET RATIO .40 .36 .31 .32
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY CAPITAL MANAGED *** 750001 - 1000000 *** *** 1000001 - 1375000 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 27,227 86,063
71 MACHINERY AND EQUIPMENT 38,868 53,122
72 MOTOR VEHICLES & LISTED PROPERTY 45,270 80,953
73 BUILDINGS 8,845 10,254
74 OWNED LAND 270,061 238,210
75 TOTAL ASSETS 489,045 634,089
76 NET WORTH 302,512 434,552
LABOR
77 NUMBER OF OPERATORS .68 .82
78 NUMBER OF WORKERS .85 1.07
79 TOTAL WORK DAYS 164 244
80 VALUE FARM PRODUCTION/WORKER 144,369 217,517
81 NET FARM INCOME/WORKER 10,412 54,308
PER OPERATOR BASIS
82 TOTAL ASSETS 712,516 769,526
83 VALUE OF FARM PRODUCTION 180,700 284,040
84 NET FARM INCOME 13,032 70,917
OTHER FACTORS
85 % CROP ACRES IRRIGATED 7.05 10.74
86 % TILLABLE LAND 76.70 49.83
87 CROP MACH COST/TOT EXPENSE(%) 31.90 28.92
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 1599 22 750 20 961 21 2732 25 865 21 2005 25
89 NON-IRRIGATED CROP ACRES 1140 22 519 19 761 20 1321 23 395 18 1012 23
90 IRRIGATED CROP ACRES 190 10 182 5 165 6 305 12 182 9 183 11
91 TOTAL CROP ACRES 1226 22 567 19 811 20 1480 23 460 19 1099 23
92 PASTURE ACRES 621 13 377 11 436 9 1792 19 615 15 1654 15
93 FARMSTEAD ACRES 25 5 31 7 32 6
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 1226 910 1361 1035
95 CROP MACHINERY INVESTMENT 77,343 63.06 85.04 118,957 87.39 114.89
96 CROP MACHINERY COST 36,709 29.93 40.36 50,790 37.31 49.05
97 GROSS CROP VALUE 87,146 71.06 95.81 139,384 98.30 129.23
98 CROP PRODUCTION COSTS 96,079 78.34 105.63 125,960 92.53 121.65
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 8 164 174 28.2 5 240 260 33.6
100 GRAIN SORGHUM 14 239 117 33.5 181 26.5 17 339 118 34.1 294 39.8
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 21 560 287 11.3 350 10.3 22 562 174 10.9 436 14.7
104 OTHER CROPS
105 ALFALFA 7 46 28 1.8
106 OTHER HAY & FORAGE 11 99 120 62 11 108 57 106
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 5 253 186 216.5
111 GRAIN SORGHUM 4 68 68 71.3
112 SOYBEANS 5 138 5 125 102 55.8
113 SUNFLOWERS
114 WHEAT 4 105 4 132
115 OTHER CROPS
116 ALFALFA
117 OTHER HAY & FORAGE 4 173 136
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 21
122 DAIRY COWS
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 16
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 CAPITAL MANAGED *** 1375001 - 1750000 *** *** 1750001 - 2125000 ***
22 FARMS 18 FARMS
ITEM PER FARM PER FARM
1 BEEF 33,070 63,022
2 DAIRY AND MILK
3 SHEEP 18-
4 SWINE 207-
5 POULTRY AND EGGS 1,289
6 OTHER LIVESTOCK 390- 560-
7 CUSTOM FEEDING 1,279 5,713
8 FEED PURCHASED 6,794- 13,387-
9 LIVESTOCK INCOME $28,228 $54,788
10 CORN 42,163 91,927
11 GRAIN SORGHUM 4,114 2,771
12 SOYBEANS 7,535 10,073
13 SUNFLOWERS 9,020 5,964
14 WHEAT 28,714 20,191
15 HAY AND FORAGE 244- 4,883
16 OTHER CROP 3,771 7,659
17 GOVERNMENT PAYMENTS 26,913 35,220
18 CROP INSURANCE PROCEEDS 50,943 46,481
19 OTHER INCOME 14,576 19,537
20 VALUE OF FARM PRODUCTION $215,734 $299,493
21 HIRED LABOR 6,732 9,365
22 MACHINERY REPAIRS 18,699 20,934
23 IRRIGATION REPAIRS 920 3,373
24 BUILDING REPAIRS 575 812
25 INTEREST PAID 19,187 23,974
26 SEED-OTHER CROP EXPENSE 12,419 16,513
27 CROP INSURANCE 8,601 11,826
28 FERTILIZER-LIME 23,559 23,209
29 MACHINE HIRE 7,699 19,619
30 ORGANIZATION FEE, PUBLICATION 3,585 2,948
31 VET-MED-DRUGS 1,146 1,685
32 CROP STORAGE-MARKETING 594 717
33 LIVESTOCK MARKETING-BREEDING 984 832
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 12,587 17,157
36 IRRIGATION ENERGY 11,234 23,127
37 REAL ESTATE TAXES 3,996 6,230
38 PERSONAL PROPERTY TAXES 529 264
39 GENERAL FARM INSURANCE 4,247 6,683
40 UTILITIES 2,449 3,234
41 CASH FARM RENT 17,791 12,783
42 HERBICIDE-INSECTICIDE 14,444 23,079
43 CONSERVATION 77 222
44 AUTO EXPENSE 1,597 816
45 TOTAL OPERATING EXPENSE $173,651 $229,403
46 DEPRECIATION-MACHINERY 14,947 24,006
47 DEPRECIATION-BUILDINGS 1,748 2,163
48 TOTAL FARM EXPENSE $190,346 $255,571
49 NET FARM INCOME $25,388 $43,922
50 UNPAID FAMILY LABOR 1,636 1,875
51 UNPAID OPERATOR LABOR 20,741 18,450
52 MANAGEMENT CHARGE 8,171 12,213
53 CURRENT ASSET CHARGE - 8% 8,700 11,804
54 NONCURRENT ASSET CHARGE - 8% 28,098 51,530
55 RETURN LABOR-MANAGEMENT 13,046- 21,287-
56 RETURN TO CAPITAL 14,026 35,357
57 ASSET TURNOVER RATIO .2904 .2450
58 OPERATING PROFIT MARGIN RATIO .0650 .1181
59 % RETURN ON ASSETS .0189 .0289
60 % RETURN ON EQUITY .0112- .0144
61 TOTAL EXPENSE RATIO .8823 .8533
62 ADJUSTED TOTAL EXPENSE RATIO 1.0239 .9620
63 ECONOMIC TOTAL EXPENSE RATIO 1.1945 1.1735
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 196,674 194,563 307,885 312,004
65 NONCURRENT ASSETS 542,230 552,303 898,776 926,359
66 CURRENT LIABILITIES 87,870 85,876 165,052 159,731
67 NONCURRENT LIABILITIES 189,365 202,730 250,558 286,332
68 CURRENT RATIO 2.24 2.27 1.87 1.95
69 DEBT TO ASSET RATIO .38 .39 .34 .36
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY CAPITAL MANAGED *** 1375001 - 1750000 *** *** 1750001 - 2125000 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 41,936 35,949
71 MACHINERY AND EQUIPMENT 65,122 108,691
72 MOTOR VEHICLES & LISTED PROPERTY 73,551 98,312
73 BUILDINGS 17,840 21,139
74 OWNED LAND 375,462 655,096
75 TOTAL ASSETS 742,885 1,222,512
76 NET WORTH 459,965 791,676
LABOR
77 NUMBER OF OPERATORS .76 .68
78 NUMBER OF WORKERS 1.05 1.07
79 TOTAL WORK DAYS 230 305
80 VALUE FARM PRODUCTION/WORKER 203,697 277,880
81 NET FARM INCOME/WORKER 23,972 40,752
PER OPERATOR BASIS
82 TOTAL ASSETS 967,069 1,789,042
83 VALUE OF FARM PRODUCTION 280,837 438,283
84 NET FARM INCOME 33,050 64,276
OTHER FACTORS
85 % CROP ACRES IRRIGATED 17.36 29.21
86 % TILLABLE LAND 61.11 70.47
87 CROP MACH COST/TOT EXPENSE(%) 29.56 30.24
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 2453 22 1026 18 1775 20 2736 18 1411 18 1490 16
89 NON-IRRIGATED CROP ACRES 1239 22 510 17 1092 17 1365 18 625 18 887 15
90 IRRIGATED CROP ACRES 409 14 279 9 357 9 724 14 428 13 509 9
91 TOTAL CROP ACRES 1499 22 658 17 1147 19 1928 18 934 18 1193 15
92 PASTURE ACRES 1305 16 512 14 1371 10 1601 9 1217 7 841 7
93 FARMSTEAD ACRES 26 5 13 5
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 1499 1213 1928 1407
95 CROP MACHINERY INVESTMENT 131,057 87.44 108.00 178,851 92.75 127.14
96 CROP MACHINERY COST 56,264 37.54 46.37 77,295 40.08 54.95
97 GROSS CROP VALUE 177,963 118.73 146.66 251,483 130.42 178.78
98 CROP PRODUCTION COSTS 148,697 99.21 122.54 202,997 105.27 144.31
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 10 331 187 52.4 287 49.6 6 440 274 24.9 318 45.4
100 GRAIN SORGHUM 12 166 99 50.9 145 31.0 6 337 242 22.9 210 28.0
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 20 624 311 12.3 497 13.9 15 595 261 9.9 405 7.2
104 OTHER CROPS
105 ALFALFA 5 20 16 1.7
106 OTHER HAY & FORAGE 7 223 58 255
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 10 230 148 161.8 236 153.6 12 423 259 197.7 276 199.9
111 GRAIN SORGHUM
112 SOYBEANS 5 123 8 127 128 35.3
113 SUNFLOWERS 5 171 103 16.3
114 WHEAT 8 212 166 31.7 206 12.7 11 157 146 36.1 121 33.2
115 OTHER CROPS 5 140 144
116 ALFALFA 5 58 57 3.9
117 OTHER HAY & FORAGE 4 209 178
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 3 52
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 CAPITAL MANAGED *** 2125001 - 2500000 *** *** 2500001 - ***
14 FARMS 42 FARMS
ITEM PER FARM PER FARM
1 BEEF 43,329 133,607
2 DAIRY AND MILK 19-
3 SHEEP
4 SWINE 53
5 POULTRY AND EGGS 1
6 OTHER LIVESTOCK 230- 872-
7 CUSTOM FEEDING 3,088
8 FEED PURCHASED 7,792- 50,956-
9 LIVESTOCK INCOME $35,307 $84,903
10 CORN 176,326 164,518
11 GRAIN SORGHUM 2,705- 17,611
12 SOYBEANS 7,519 18,112
13 SUNFLOWERS 9,243 8,511
14 WHEAT 17,443 23,897
15 HAY AND FORAGE 18,569 4,232
16 OTHER CROP 16,421 2,151
17 GOVERNMENT PAYMENTS 63,932 64,875
18 CROP INSURANCE PROCEEDS 93,723 109,480
19 OTHER INCOME 36,523 29,180
20 VALUE OF FARM PRODUCTION $472,301 $527,470
21 HIRED LABOR 32,229 24,228
22 MACHINERY REPAIRS 36,931 32,402
23 IRRIGATION REPAIRS 6,314 4,868
24 BUILDING REPAIRS 1,559 1,831
25 INTEREST PAID 25,565 31,935
26 SEED-OTHER CROP EXPENSE 50,566 35,985
27 CROP INSURANCE 17,464 22,612
28 FERTILIZER-LIME 39,689 40,769
29 MACHINE HIRE 14,962 31,095
30 ORGANIZATION FEE, PUBLICATION 2,599 4,785
31 VET-MED-DRUGS 1,011 3,206
32 CROP STORAGE-MARKETING 4,995 2,411
33 LIVESTOCK MARKETING-BREEDING 756 2,838
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 31,323 22,666
36 IRRIGATION ENERGY 41,416 42,576
37 REAL ESTATE TAXES 3,207 6,951
38 PERSONAL PROPERTY TAXES 314 288
39 GENERAL FARM INSURANCE 7,670 9,014
40 UTILITIES 4,080 6,119
41 CASH FARM RENT 16,059 30,804
42 HERBICIDE-INSECTICIDE 36,457 45,044
43 CONSERVATION 470 260
44 AUTO EXPENSE 1,716 1,750
45 TOTAL OPERATING EXPENSE $377,350 $404,440
46 DEPRECIATION-MACHINERY 34,625 40,401
47 DEPRECIATION-BUILDINGS 1,632 2,725
48 TOTAL FARM EXPENSE $413,607 $447,566
49 NET FARM INCOME $58,695 $79,904
50 UNPAID FAMILY LABOR 4,339 2,679
51 UNPAID OPERATOR LABOR 22,757 23,979
52 MANAGEMENT CHARGE 16,319 21,533
53 CURRENT ASSET CHARGE - 8% 11,707 20,427
54 NONCURRENT ASSET CHARGE - 8% 35,183 56,400
55 RETURN LABOR-MANAGEMENT 7,466 399
56 RETURN TO CAPITAL 40,844 63,649
57 ASSET TURNOVER RATIO .4928 .3280
58 OPERATING PROFIT MARGIN RATIO .0865 .1207
59 % RETURN ON ASSETS .0426 .0396
60 % RETURN ON EQUITY .0261 .0330
61 TOTAL EXPENSE RATIO .8757 .8485
62 ADJUSTED TOTAL EXPENSE RATIO .9676 .9399
63 ECONOMIC TOTAL EXPENSE RATIO 1.0669 1.0855
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 273,980 260,125 483,989 545,033
65 NONCURRENT ASSETS 674,026 708,717 1,052,994 1,134,408
66 CURRENT LIABILITIES 120,375 121,051 242,975 275,371
67 NONCURRENT LIABILITIES 246,763 256,415 362,406 415,006
68 CURRENT RATIO 2.28 2.15 1.99 1.98
69 DEBT TO ASSET RATIO .39 .39 .39 .41
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY CAPITAL MANAGED *** 2125001 - 2500000 *** *** 2500001 - ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 37,354 43,900
71 MACHINERY AND EQUIPMENT 152,750 153,966
72 MOTOR VEHICLES & LISTED PROPERTY 130,852 153,846
73 BUILDINGS 16,644 25,558
74 OWNED LAND 377,180 705,856
75 TOTAL ASSETS 958,424 1,608,212
76 NET WORTH 586,122 960,332
LABOR
77 NUMBER OF OPERATORS .84 .88
78 NUMBER OF WORKERS 1.71 1.70
79 TOTAL WORK DAYS 459 535
80 VALUE FARM PRODUCTION/WORKER 275,509 309,843
81 NET FARM INCOME/WORKER 34,239 46,937
PER OPERATOR BASIS
82 TOTAL ASSETS 1,137,113 1,810,855
83 VALUE OF FARM PRODUCTION 560,357 593,934
84 NET FARM INCOME 69,638 89,973
OTHER FACTORS
85 % CROP ACRES IRRIGATED 30.74 21.13
86 % TILLABLE LAND 79.14 78.66
87 CROP MACH COST/TOT EXPENSE(%) 29.83 27.48
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 2937 14 777 11 2327 14 4145 42 1398 37 2914 42
89 NON-IRRIGATED CROP ACRES 2324 14 448 11 1972 14 2634 41 890 37 1877 40
90 IRRIGATED CROP ACRES 1112 9 1012 9 877 33 387 21 672 31
91 TOTAL CROP ACRES 2325 14 529 11 1909 14 3340 41 1109 37 2398 40
92 PASTURE ACRES 1417 6 540 5 1363 27 475 22 1386 19
93 FARMSTEAD ACRES 28 13 18 12
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 2325 2342 3261 2667
95 CROP MACHINERY INVESTMENT 278,584 119.84 118.93 282,435 86.61 105.91
96 CROP MACHINERY COST 123,364 53.07 52.67 123,010 37.72 46.13
97 GROSS CROP VALUE 400,272 172.19 170.88 444,097 132.95 162.56
98 CROP PRODUCTION COSTS 359,647 154.72 153.54 360,198 110.46 135.06
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 11 740 114 25.2 688 36.9 26 804 295 39.4 601 45.3
100 GRAIN SORGHUM 4 128 101 34.6 21 712 325 28.2 527 29.5
101 SOYBEANS 4 343 305 19.5
102 SUNFLOWERS 4 426
103 WHEAT 14 867 199 6.0 725 7.4 40 1003 403 5.4 708 7.1
104 OTHER CROPS 4 133
105 ALFALFA
106 OTHER HAY & FORAGE 4 97 86 12 120 125 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 8 734 683 190.2 24 643 292 203.4 503 198.5
111 GRAIN SORGHUM 6 174 161 70.5
112 SOYBEANS 4 177 177 34.1 13 246 115 49.0 217 47.7
113 SUNFLOWERS 8 160 126 17.0
114 WHEAT 5 315 291 15.2 23 294 152 29.7 232 28.1
115 OTHER CROPS
116 ALFALFA 4 68 51 4.4
117 OTHER HAY & FORAGE 16 155 59 182
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 6 255
126 SWINE PURCHASED FOR RESALE SALES 1
127 TURKEYS
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