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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
INCOME AND EXPENSE ANALYSIS
**BY AGE OF OPERATOR *** - 35 *** *** 36 - 40 ***
20 FARMS 14 FARMS
ITEM PER FARM PER FARM
1 BEEF 69,227 22,802
2 DAIRY AND MILK 25-
3 SHEEP
4 SWINE 16
5 POULTRY AND EGGS 15,276
6 OTHER LIVESTOCK 29 5,553-
7 CUSTOM FEEDING 3,299- 1,175
8 FEED PURCHASED 12,214- 9,757-
9 LIVESTOCK INCOME $53,718 $23,957
10 CORN 72,673 139,164
11 GRAIN SORGHUM 4,366 12,986
12 SOYBEANS 9,882 8,383
13 SUNFLOWERS 11,232 5,131
14 WHEAT 13,010 26,422
15 HAY AND FORAGE 18,478 3,410
16 OTHER CROP 2,183 506
17 GOVERNMENT PAYMENTS 30,778 47,855
18 CROP INSURANCE PROCEEDS 53,785 77,183
19 OTHER INCOME 35,609 17,045
20 VALUE OF FARM PRODUCTION $305,716 $362,042
21 HIRED LABOR 5,968 13,417
22 MACHINERY REPAIRS 18,462 23,685
23 IRRIGATION REPAIRS 2,872 4,578
24 BUILDING REPAIRS 1,303 1,796
25 INTEREST PAID 13,874 12,916
26 SEED-OTHER CROP EXPENSE 20,116 30,103
27 CROP INSURANCE 12,042 17,362
28 FERTILIZER-LIME 21,160 31,036
29 MACHINE HIRE 16,149 22,380
30 ORGANIZATION FEE, PUBLICATION 2,318 3,713
31 VET-MED-DRUGS 1,413 1,107
32 CROP STORAGE-MARKETING 2,124 4,871
33 LIVESTOCK MARKETING-BREEDING 1,351 536
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 13,139 17,722
36 IRRIGATION ENERGY 25,229 40,876
37 REAL ESTATE TAXES 1,878 4,897
38 PERSONAL PROPERTY TAXES 393 218
39 GENERAL FARM INSURANCE 2,874 5,498
40 UTILITIES 1,686 3,368
41 CASH FARM RENT 21,911 21,825
42 HERBICIDE-INSECTICIDE 25,255 37,412
43 CONSERVATION 153
44 AUTO EXPENSE 1,429 1,155
45 TOTAL OPERATING EXPENSE $213,098 $300,471
46 DEPRECIATION-MACHINERY 24,435 28,493
47 DEPRECIATION-BUILDINGS 2,200 2,592
48 TOTAL FARM EXPENSE $239,733 $331,555
49 NET FARM INCOME $65,983 $30,488
50 UNPAID FAMILY LABOR 1,463 1,768
51 UNPAID OPERATOR LABOR 20,115 19,671
52 MANAGEMENT CHARGE 14,718 9,987
53 CURRENT ASSET CHARGE - 8% 9,494 12,115
54 NONCURRENT ASSET CHARGE - 8% 18,744 36,910
55 RETURN LABOR-MANAGEMENT 36,283 20,305-
56 RETURN TO CAPITAL 43,561 11,978
57 ASSET TURNOVER RATIO .4643 .4056
58 OPERATING PROFIT MARGIN RATIO .1425 .0331
59 % RETURN ON ASSETS .0662 .0134
60 % RETURN ON EQUITY .0841 .0015-
61 TOTAL EXPENSE RATIO .7842 .9158
62 ADJUSTED TOTAL EXPENSE RATIO .9029 1.0026
63 ECONOMIC TOTAL EXPENSE RATIO .9953 1.1380
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 236,463 262,145 213,777 202,511
65 NONCURRENT ASSETS 391,261 427,042 608,814 760,202
66 CURRENT LIABILITIES 125,053 136,215 52,726 60,686
67 NONCURRENT LIABILITIES 172,791 176,920 164,814 281,459
68 CURRENT RATIO 1.89 1.92 4.05 3.34
69 DEBT TO ASSET RATIO .47 .45 .26 .36
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY AGE OF OPERATOR *** - 35 *** *** 36 - 40 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 22,499 23,482
71 MACHINERY AND EQUIPMENT 72,920 106,931
72 MOTOR VEHICLES & LISTED PROPERTY 73,353 117,751
73 BUILDINGS 18,261 22,982
74 OWNED LAND 230,370 430,281
75 TOTAL ASSETS 658,456 892,652
76 NET WORTH 352,966 612,810
LABOR
77 NUMBER OF OPERATORS .74 .72
78 NUMBER OF WORKERS 1.07 1.14
79 TOTAL WORK DAYS 290 341
80 VALUE FARM PRODUCTION/WORKER 285,716 316,787
81 NET FARM INCOME/WORKER 61,666 26,677
PER OPERATOR BASIS
82 TOTAL ASSETS 883,833 1,225,209
83 VALUE OF FARM PRODUCTION 410,357 496,921
84 NET FARM INCOME 88,568 41,846
OTHER FACTORS
85 % CROP ACRES IRRIGATED 19.78 31.86
86 % TILLABLE LAND 75.43 92.26
87 CROP MACH COST/TOT EXPENSE(%) 23.61 30.57
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 2293 20 595 14 1975 19 2286 14 792 12 1608 14
89 NON-IRRIGATED CROP ACRES 1460 19 290 14 1579 15 1437 14 464 12 1040 14
90 IRRIGATED CROP ACRES 855 8 630 8 941 10 451 6 670 10
91 TOTAL CROP ACRES 1820 19 418 14 1915 15 2109 14 689 12 1519 14
92 PASTURE ACRES 1022 11 353 7 975 9 404 6
93 FARMSTEAD ACRES
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 1729 1446 2109 1732
95 CROP MACHINERY INVESTMENT 138,109 79.86 95.49 215,303 102.08 124.33
96 CROP MACHINERY COST 56,593 32.72 39.13 101,342 48.05 58.52
97 GROSS CROP VALUE 217,002 125.47 150.03 323,970 153.60 187.09
98 CROP PRODUCTION COSTS 184,622 101.41 121.26 295,650 140.17 170.73
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 12 563 124 31.6 654 40.9 9 521 166 34.9 442 30.7
100 GRAIN SORGHUM 11 312 190 43.9 287 19.9 8 243 192 27.7
101 SOYBEANS 4 443 443 10.2
102 SUNFLOWERS
103 WHEAT 16 445 101 9.7 509 6.7 14 574 174 8.2 437 8.8
104 OTHER CROPS
105 ALFALFA
106 OTHER HAY & FORAGE
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 7 430 299 211.8 8 537 321 201.5 376 200.0
111 GRAIN SORGHUM
112 SOYBEANS 5 156 165 54.0 6 159 167 33.2
113 SUNFLOWERS 4 114 114 18.8
114 WHEAT 7 206 193 27.1 9 336 224 35.4
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 112
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 AGE OF OPERATOR *** 41 - 45 *** *** 46 - 50 ***
16 FARMS 30 FARMS
ITEM PER FARM PER FARM
1 BEEF 69,151 47,951
2 DAIRY AND MILK
3 SHEEP 37 13-
4 SWINE 43
5 POULTRY AND EGGS 149 945
6 OTHER LIVESTOCK 55- 163
7 CUSTOM FEEDING 12,581 1,069
8 FEED PURCHASED 9,875- 8,053-
9 LIVESTOCK INCOME $71,988 $42,105
10 CORN 147,102 106,084
11 GRAIN SORGHUM 20,190 6,527
12 SOYBEANS 22,891 10,938
13 SUNFLOWERS 13,421 4,037
14 WHEAT 16,011 18,083
15 HAY AND FORAGE 2,665- 1,018
16 OTHER CROP 5,297 10,413
17 GOVERNMENT PAYMENTS 57,053 42,849
18 CROP INSURANCE PROCEEDS 100,449 62,293
19 OTHER INCOME 24,062 17,113
20 VALUE OF FARM PRODUCTION $475,799 $321,458
21 HIRED LABOR 15,831 17,871
22 MACHINERY REPAIRS 31,199 25,342
23 IRRIGATION REPAIRS 6,062 4,074
24 BUILDING REPAIRS 1,556 919
25 INTEREST PAID 22,997 22,583
26 SEED-OTHER CROP EXPENSE 29,963 30,332
27 CROP INSURANCE 20,135 11,179
28 FERTILIZER-LIME 44,028 32,395
29 MACHINE HIRE 20,776 10,948
30 ORGANIZATION FEE, PUBLICATION 4,560 2,780
31 VET-MED-DRUGS 2,965 1,654
32 CROP STORAGE-MARKETING 819 2,376
33 LIVESTOCK MARKETING-BREEDING 1,563 1,322
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 18,123 21,596
36 IRRIGATION ENERGY 42,434 23,004
37 REAL ESTATE TAXES 5,807 3,357
38 PERSONAL PROPERTY TAXES 248 444
39 GENERAL FARM INSURANCE 6,925 6,747
40 UTILITIES 3,545 3,765
41 CASH FARM RENT 30,806 18,373
42 HERBICIDE-INSECTICIDE 42,925 22,190
43 CONSERVATION 678 254
44 AUTO EXPENSE 2,721 1,752
45 TOTAL OPERATING EXPENSE $356,664 $265,255
46 DEPRECIATION-MACHINERY 32,895 23,093
47 DEPRECIATION-BUILDINGS 2,459 1,487
48 TOTAL FARM EXPENSE $392,017 $289,836
49 NET FARM INCOME $83,781 $31,623
50 UNPAID FAMILY LABOR 2,531 3,525
51 UNPAID OPERATOR LABOR 23,119 21,780
52 MANAGEMENT CHARGE 19,649 10,245
53 CURRENT ASSET CHARGE - 8% 14,036 10,061
54 NONCURRENT ASSET CHARGE - 8% 33,293 19,798
55 RETURN LABOR-MANAGEMENT 33,922 1,761-
56 RETURN TO CAPITAL 61,479 18,656
57 ASSET TURNOVER RATIO .4350 .4292
58 OPERATING PROFIT MARGIN RATIO .1292 .0580
59 % RETURN ON ASSETS .0562 .0249
60 % RETURN ON EQUITY .0650 .0105-
61 TOTAL EXPENSE RATIO .8239 .9016
62 ADJUSTED TOTAL EXPENSE RATIO .9191 1.0122
63 ECONOMIC TOTAL EXPENSE RATIO 1.0186 1.1051
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 306,651 356,540 254,903 234,316
65 NONCURRENT ASSETS 750,260 773,886 503,891 504,677
66 CURRENT LIABILITIES 168,797 143,506 123,895 113,806
67 NONCURRENT LIABILITIES 314,779 377,052 252,901 260,726
68 CURRENT RATIO 1.82 2.48 2.06 2.06
69 DEBT TO ASSET RATIO .46 .46 .50 .51
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY AGE OF OPERATOR *** 41 - 45 *** *** 46 - 50 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 53,355 41,686
71 MACHINERY AND EQUIPMENT 112,226 101,646
72 MOTOR VEHICLES & LISTED PROPERTY 131,137 88,741
73 BUILDINGS 22,463 10,905
74 OWNED LAND 492,086 290,261
75 TOTAL ASSETS 1,093,668 748,893
76 NET WORTH 591,601 373,229
LABOR
77 NUMBER OF OPERATORS .85 .80
78 NUMBER OF WORKERS 1.40 1.31
79 TOTAL WORK DAYS 438 329
80 VALUE FARM PRODUCTION/WORKER 339,856 244,765
81 NET FARM INCOME/WORKER 59,844 24,078
PER OPERATOR BASIS
82 TOTAL ASSETS 1,277,277 928,380
83 VALUE OF FARM PRODUCTION 555,677 398,502
84 NET FARM INCOME 97,847 39,202
OTHER FACTORS
85 % CROP ACRES IRRIGATED 24.44 25.32
86 % TILLABLE LAND 72.35 71.29
87 CROP MACH COST/TOT EXPENSE(%) 24.40 30.59
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 3256 16 1132 14 2266 16 2691 30 792 27 2046 29
89 NON-IRRIGATED CROP ACRES 1780 16 614 14 1420 14 1766 30 466 27 1442 28
90 IRRIGATED CROP ACRES 768 12 314 9 581 11 694 21 192 11 779 16
91 TOTAL CROP ACRES 2356 16 816 14 1751 15 1918 30 545 27 1530 28
92 PASTURE ACRES 1433 10 624 7 1107 9 1270 18 401 16 1174 14
93 FARMSTEAD ACRES 26 12 25 10
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 2356 2194 1918 1628
95 CROP MACHINERY INVESTMENT 222,119 94.29 101.22 175,682 91.59 107.93
96 CROP MACHINERY COST 95,654 40.60 43.59 88,649 46.22 54.46
97 GROSS CROP VALUE 389,901 165.51 177.68 265,869 138.61 163.34
98 CROP PRODUCTION COSTS 311,209 132.10 141.82 243,431 126.91 149.56
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 10 703 185 35.5 556 46.1 10 588 104 38.6 670 34.2
100 GRAIN SORGHUM 7 649 235 42.4 481 49.0 16 287 131 41.6 230 31.9
101 SOYBEANS
102 SUNFLOWERS 4 96
103 WHEAT 15 731 240 7.8 560 10.8 29 695 220 7.8 576 9.1
104 OTHER CROPS
105 ALFALFA 5 72 63 2.6 28 2.2
106 OTHER HAY & FORAGE 7 85 93 44 12 186 117 144
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 10 545 190 204.1 437 194.5 14 590 159 181.5 664 186.5
111 GRAIN SORGHUM
112 SOYBEANS 8 224 112 36.9 206 52.1 9 190 198 46.7
113 SUNFLOWERS 4 124 79 15.6
114 WHEAT 6 107 62 23.7 82 34.2 13 205 73 28.2 215 22.6
115 OTHER CROPS 6 137 140
116 ALFALFA 5 46
117 OTHER HAY & FORAGE 5 197 6 141 124
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 41
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 AGE OF OPERATOR *** 51 - 55 *** *** 56 - 60 ***
26 FARMS 24 FARMS
ITEM PER FARM PER FARM
1 BEEF 73,122 81,253
2 DAIRY AND MILK
3 SHEEP 9,143
4 SWINE 244-
5 POULTRY AND EGGS
6 OTHER LIVESTOCK 1,235 36
7 CUSTOM FEEDING 813
8 FEED PURCHASED 10,737- 40,525-
9 LIVESTOCK INCOME $72,763 $41,333
10 CORN 54,367 64,337
11 GRAIN SORGHUM 12,149 9,143
12 SOYBEANS 10,008 7,309
13 SUNFLOWERS 6,658 5,369
14 WHEAT 20,535 25,762
15 HAY AND FORAGE 842 5,158
16 OTHER CROP 2,789 477
17 GOVERNMENT PAYMENTS 34,451 35,473
18 CROP INSURANCE PROCEEDS 55,078 63,734
19 OTHER INCOME 13,523 16,892
20 VALUE OF FARM PRODUCTION $283,161 $274,987
21 HIRED LABOR 9,488 13,803
22 MACHINERY REPAIRS 19,460 21,344
23 IRRIGATION REPAIRS 2,173 920
24 BUILDING REPAIRS 1,082 797
25 INTEREST PAID 19,324 23,022
26 SEED-OTHER CROP EXPENSE 15,668 13,555
27 CROP INSURANCE 10,581 10,219
28 FERTILIZER-LIME 18,303 19,601
29 MACHINE HIRE 8,770 17,761
30 ORGANIZATION FEE, PUBLICATION 2,855 2,928
31 VET-MED-DRUGS 1,438 1,662
32 CROP STORAGE-MARKETING 249 573
33 LIVESTOCK MARKETING-BREEDING 1,680 2,867
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 13,782 13,297
36 IRRIGATION ENERGY 19,336 10,707
37 REAL ESTATE TAXES 3,430 5,974
38 PERSONAL PROPERTY TAXES 66 348
39 GENERAL FARM INSURANCE 4,884 6,055
40 UTILITIES 2,688 2,502
41 CASH FARM RENT 21,313 11,908
42 HERBICIDE-INSECTICIDE 17,948 18,487
43 CONSERVATION 40 155
44 AUTO EXPENSE 1,408 1,208
45 TOTAL OPERATING EXPENSE $195,965 $199,691
46 DEPRECIATION-MACHINERY 21,276 25,437
47 DEPRECIATION-BUILDINGS 1,895 1,306
48 TOTAL FARM EXPENSE $219,135 $226,434
49 NET FARM INCOME $64,026 $48,553
50 UNPAID FAMILY LABOR 2,163 2,531
51 UNPAID OPERATOR LABOR 23,573 21,375
52 MANAGEMENT CHARGE 15,159 13,208
53 CURRENT ASSET CHARGE - 8% 11,959 11,726
54 NONCURRENT ASSET CHARGE - 8% 23,237 45,039
55 RETURN LABOR-MANAGEMENT 26,666 10,742-
56 RETURN TO CAPITAL 42,454 34,461
57 ASSET TURNOVER RATIO .3636 .2476
58 OPERATING PROFIT MARGIN RATIO .1499 .1253
59 % RETURN ON ASSETS .0545 .0310
60 % RETURN ON EQUITY .0526 .0161
61 TOTAL EXPENSE RATIO .7739 .8234
62 ADJUSTED TOTAL EXPENSE RATIO .9183 .9584
63 ECONOMIC TOTAL EXPENSE RATIO 1.0426 1.1648
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 259,639 276,263 255,039 299,920
65 NONCURRENT ASSETS 498,600 522,884 824,845 841,711
66 CURRENT LIABILITIES 116,409 120,516 108,396 153,423
67 NONCURRENT LIABILITIES 218,998 221,555 265,902 274,682
68 CURRENT RATIO 2.23 2.29 2.35 1.95
69 DEBT TO ASSET RATIO .44 .43 .35 .37
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY AGE OF OPERATOR *** 51 - 55 *** *** 56 - 60 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 67,528 36,300
71 MACHINERY AND EQUIPMENT 78,135 95,954
72 MOTOR VEHICLES & LISTED PROPERTY 92,235 110,743
73 BUILDINGS 18,924 13,296
74 OWNED LAND 306,999 540,540
75 TOTAL ASSETS 778,693 1,110,757
76 NET WORTH 439,954 709,555
LABOR
77 NUMBER OF OPERATORS .87 .79
78 NUMBER OF WORKERS 1.27 1.30
79 TOTAL WORK DAYS 289 305
80 VALUE FARM PRODUCTION/WORKER 221,753 210,853
81 NET FARM INCOME/WORKER 50,141 37,229
PER OPERATOR BASIS
82 TOTAL ASSETS 891,895 1,403,062
83 VALUE OF FARM PRODUCTION 324,326 347,352
84 NET FARM INCOME 73,334 61,331
OTHER FACTORS
85 % CROP ACRES IRRIGATED 15.62 13.03
86 % TILLABLE LAND 63.63 72.60
87 CROP MACH COST/TOT EXPENSE(%) 29.70 34.74
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 2837 26 754 22 2199 26 2863 24 1184 22 1777 24
89 NON-IRRIGATED CROP ACRES 1584 25 542 21 1176 24 1886 23 744 21 1262 22
90 IRRIGATED CROP ACRES 458 16 257 9 358 14 542 12 331 9 391 9
91 TOTAL CROP ACRES 1877 25 652 21 1385 24 2169 23 886 21 1422 22
92 PASTURE ACRES 1661 16 246 11 1705 14 1036 18 459 16 869 13
93 FARMSTEAD ACRES 25 10 22 8 34 5 21 5
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 1805 1400 2078 1703
95 CROP MACHINERY INVESTMENT 156,147 86.50 111.52 187,479 90.21 110.10
96 CROP MACHINERY COST 65,091 36.06 46.49 78,657 37.85 46.19
97 GROSS CROP VALUE 213,022 118.00 152.14 209,089 96.41 117.68
98 CROP PRODUCTION COSTS 168,672 93.43 120.46 179,634 86.43 105.50
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 10 273 89 51.0 300 30.0 6 1072 641 51.5 431 41.4
100 GRAIN SORGHUM 15 507 185 33.3 384 31.7 16 302 148 26.2 224 32.5
101 SOYBEANS 4 124
102 SUNFLOWERS
103 WHEAT 24 686 274 12.1 489 13.3 22 936 390 8.5 628 9.9
104 OTHER CROPS
105 ALFALFA 5 33 18 3.2
106 OTHER HAY & FORAGE 8 103 92 7 206 68 276
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 7 476 193 216.8 366 188.1 4 636 384 208.9
111 GRAIN SORGHUM
112 SOYBEANS 7 187 138 41.7 127 45.0 5 103 114 48.8
113 SUNFLOWERS 4 239
114 WHEAT 6 145 78 47.8 139 18.9 5 319 305 32.8
115 OTHER CROPS
116 ALFALFA 4 56
117 OTHER HAY & FORAGE 5 149 162
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 20
122 DAIRY COWS
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 15 154
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 AGE OF OPERATOR *** 61 - 65 *** *** 66 - 70 ***
6 FARMS 21 FARMS
ITEM PER FARM PER FARM
1 BEEF 70,337 114,838
2 DAIRY AND MILK 38-
3 SHEEP
4 SWINE 107
5 POULTRY AND EGGS 30
6 OTHER LIVESTOCK 26-
7 CUSTOM FEEDING 3,876
8 FEED PURCHASED 13,665- 46,679-
9 LIVESTOCK INCOME $56,672 $72,108
10 CORN 9,394 56,861
11 GRAIN SORGHUM 4,812 10,380
12 SOYBEANS 4,513 7,581
13 SUNFLOWERS 1,758
14 WHEAT 25,410 18,959
15 HAY AND FORAGE 2,448 731-
16 OTHER CROP 226 2,494
17 GOVERNMENT PAYMENTS 15,554 31,865
18 CROP INSURANCE PROCEEDS 52,789 54,152
19 OTHER INCOME 13,774 23,179
20 VALUE OF FARM PRODUCTION $185,593 $278,606
21 HIRED LABOR 4,583 14,965
22 MACHINERY REPAIRS 14,601 21,986
23 IRRIGATION REPAIRS 784 1,650
24 BUILDING REPAIRS 1,632 949
25 INTEREST PAID 19,809 21,030
26 SEED-OTHER CROP EXPENSE 9,685 13,991
27 CROP INSURANCE 6,652 10,203
28 FERTILIZER-LIME 26,657 16,399
29 MACHINE HIRE 2,491 17,540
30 ORGANIZATION FEE, PUBLICATION 2,520 4,229
31 VET-MED-DRUGS 1,856 2,404
32 CROP STORAGE-MARKETING 503 315
33 LIVESTOCK MARKETING-BREEDING 650 821
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 13,118 14,410
36 IRRIGATION ENERGY 938 13,963
37 REAL ESTATE TAXES 6,994 3,915
38 PERSONAL PROPERTY TAXES 220 291
39 GENERAL FARM INSURANCE 3,310 6,049
40 UTILITIES 2,936 7,757
41 CASH FARM RENT 11,537 19,443
42 HERBICIDE-INSECTICIDE 10,889 20,586
43 CONSERVATION 101
44 AUTO EXPENSE 1,027 1,014
45 TOTAL OPERATING EXPENSE $143,390 $214,010
46 DEPRECIATION-MACHINERY 10,138 18,262
47 DEPRECIATION-BUILDINGS 1,140 1,407
48 TOTAL FARM EXPENSE $154,667 $233,679
49 NET FARM INCOME $30,925 $44,927
50 UNPAID FAMILY LABOR 1,500 1,071
51 UNPAID OPERATOR LABOR 18,900 19,029
52 MANAGEMENT CHARGE 8,447 12,286
53 CURRENT ASSET CHARGE - 8% 13,383 12,101
54 NONCURRENT ASSET CHARGE - 8% 33,472 45,716
55 RETURN LABOR-MANAGEMENT 17,429- 13,961-
56 RETURN TO CAPITAL 21,887 33,570
57 ASSET TURNOVER RATIO .2034 .2594
58 OPERATING PROFIT MARGIN RATIO .1179 .1205
59 % RETURN ON ASSETS .0240 .0313
60 % RETURN ON EQUITY .0035 .0174
61 TOTAL EXPENSE RATIO .8334 .8387
62 ADJUSTED TOTAL EXPENSE RATIO .9888 .9550
63 ECONOMIC TOTAL EXPENSE RATIO 1.2413 1.1625
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 220,715 232,040 288,139 362,676
65 NONCURRENT ASSETS 655,780 716,427 744,465 753,179
66 CURRENT LIABILITIES 51,635 66,552 160,611 187,689
67 NONCURRENT LIABILITIES 265,249 270,158 182,636 172,103
68 CURRENT RATIO 4.27 3.49 1.79 1.93
69 DEBT TO ASSET RATIO .36 .36 .33 .32
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY AGE OF OPERATOR *** 61 - 65 *** *** 66 - 70 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 63,125 31,156
71 MACHINERY AND EQUIPMENT 31,377 87,760
72 MOTOR VEHICLES & LISTED PROPERTY 63,654 85,802
73 BUILDINGS 12,828 15,474
74 OWNED LAND 565,777 537,255
75 TOTAL ASSETS 912,481 1,074,230
76 NET WORTH 585,685 722,710
LABOR
77 NUMBER OF OPERATORS .70 .70
78 NUMBER OF WORKERS .98 1.08
79 TOTAL WORK DAYS 240 268
80 VALUE FARM PRODUCTION/WORKER 188,738 256,611
81 NET FARM INCOME/WORKER 31,449 41,380
PER OPERATOR BASIS
82 TOTAL ASSETS 1,303,545 1,524,245
83 VALUE OF FARM PRODUCTION 265,132 395,319
84 NET FARM INCOME 44,179 63,748
OTHER FACTORS
85 % CROP ACRES IRRIGATED 2.81 18.67
86 % TILLABLE LAND 56.03 77.13
87 CROP MACH COST/TOT EXPENSE(%) 26.31 28.13
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 3161 6 1081 6 2250 21 1147 18 1400 19
89 NON-IRRIGATED CROP ACRES 1721 6 643 6 1412 21 804 16 932 18
90 IRRIGATED CROP ACRES 486 14 320 8 472 9
91 TOTAL CROP ACRES 1771 6 685 6 1736 21 964 16 1106 19
92 PASTURE ACRES 1646 5 818 13 471 11 779 7
93 FARMSTEAD ACRES
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 1771 1154 1736 1310
95 CROP MACHINERY INVESTMENT 89,486 50.53 77.51 160,297 92.35 122.33
96 CROP MACHINERY COST 40,691 22.98 35.25 65,736 37.87 50.17
97 GROSS CROP VALUE 104,436 58.98 90.46 191,961 110.60 146.49
98 CROP PRODUCTION COSTS 116,065 65.54 100.54 182,979 105.42 139.64
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 13 368 221 32.3 335 48.4
100 GRAIN SORGHUM 4 493 11 312 191 27.0 275 29.4
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 6 650 288 21.4 615 9.5 20 550 367 7.8 343 10.3
104 OTHER CROPS
105 ALFALFA 4 41
106 OTHER HAY & FORAGE 7 101 105 71
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 11 278 183 201.6 254 182.6
111 GRAIN SORGHUM 4 113 113 87.6
112 SOYBEANS 4 137
113 SUNFLOWERS
114 WHEAT 9 246 212 37.9 228 31.6
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 203
126 SWINE PURCHASED FOR RESALE SALES 1
127 TURKEYS
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
INCOME AND EXPENSE ANALYSIS
**BY AGE OF OPERATOR *** 71 - *** *** - ***
22 FARMS
ITEM PER FARM PER FARM
1 BEEF 17,440
2 DAIRY AND MILK
3 SHEEP
4 SWINE
5 POULTRY AND EGGS
6 OTHER LIVESTOCK 41
7 CUSTOM FEEDING
8 FEED PURCHASED 4,661-
9 LIVESTOCK INCOME $12,819
10 CORN 14,576
11 GRAIN SORGHUM 1,933
12 SOYBEANS 1,204
13 SUNFLOWERS 234
14 WHEAT 12,460
15 HAY AND FORAGE 2,604
16 OTHER CROP 1,052-
17 GOVERNMENT PAYMENTS 18,049
18 CROP INSURANCE PROCEEDS 26,147
19 OTHER INCOME 8,710
20 VALUE OF FARM PRODUCTION $97,684
21 HIRED LABOR 6,625
22 MACHINERY REPAIRS 9,999
23 IRRIGATION REPAIRS 213
24 BUILDING REPAIRS 181
25 INTEREST PAID 2,725
26 SEED-OTHER CROP EXPENSE 4,959
27 CROP INSURANCE 3,833
28 FERTILIZER-LIME 5,576
29 MACHINE HIRE 7,284
30 ORGANIZATION FEE, PUBLICATION 1,684
31 VET-MED-DRUGS 516
32 CROP STORAGE-MARKETING 169
33 LIVESTOCK MARKETING-BREEDING 211
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 8,292
36 IRRIGATION ENERGY 3,371
37 REAL ESTATE TAXES 4,927
38 PERSONAL PROPERTY TAXES 180
39 GENERAL FARM INSURANCE 3,081
40 UTILITIES 1,598
41 CASH FARM RENT 5,334
42 HERBICIDE-INSECTICIDE 10,793
43 CONSERVATION 120
44 AUTO EXPENSE 999
45 TOTAL OPERATING EXPENSE $82,669
46 DEPRECIATION-MACHINERY 8,264
47 DEPRECIATION-BUILDINGS 509
48 TOTAL FARM EXPENSE $91,442
49 NET FARM INCOME $6,242
50 UNPAID FAMILY LABOR 920
51 UNPAID OPERATOR LABOR 14,114
52 MANAGEMENT CHARGE 4,109
53 CURRENT ASSET CHARGE - 8% 14,420
54 NONCURRENT ASSET CHARGE - 8% 42,260
55 RETURN LABOR-MANAGEMENT 51,359-
56 RETURN TO CAPITAL 10,175-
57 ASSET TURNOVER RATIO .1265
58 OPERATING PROFIT MARGIN RATIO .1042-
59 % RETURN ON ASSETS .0132-
60 % RETURN ON EQUITY .0182-
61 TOTAL EXPENSE RATIO .9361
62 ADJUSTED TOTAL EXPENSE RATIO 1.1321
63 ECONOMIC TOTAL EXPENSE RATIO 1.7123
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 215,634 192,763
65 NONCURRENT ASSETS 566,290 569,334
66 CURRENT LIABILITIES 17,165 30,729
67 NONCURRENT LIABILITIES 43,611 35,502
68 CURRENT RATIO 12.56 6.27
69 DEBT TO ASSET RATIO .08 .09
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY AGE OF OPERATOR *** 71 - *** *** - ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 30,174
71 MACHINERY AND EQUIPMENT 42,525
72 MOTOR VEHICLES & LISTED PROPERTY 57,330
73 BUILDINGS 5,921
74 OWNED LAND 451,918
75 TOTAL ASSETS 772,010
76 NET WORTH 708,507
LABOR
77 NUMBER OF OPERATORS .52
78 NUMBER OF WORKERS .76
79 TOTAL WORK DAYS 172
80 VALUE FARM PRODUCTION/WORKER 127,920
81 NET FARM INCOME/WORKER 8,174
PER OPERATOR BASIS
82 TOTAL ASSETS 1,476,889
83 VALUE OF FARM PRODUCTION 186,874
84 NET FARM INCOME 11,941
OTHER FACTORS
85 % CROP ACRES IRRIGATED 12.91
86 % TILLABLE LAND 60.16
87 CROP MACH COST/TOT EXPENSE(%) 39.78
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 1950 22 1521 17 947 18
89 NON-IRRIGATED CROP ACRES 1070 21 642 15 803 16
90 IRRIGATED CROP ACRES 476 7 393 7
91 TOTAL CROP ACRES 1229 21 774 16 840 16
92 PASTURE ACRES 1307 13 1030 13 602 6
93 FARMSTEAD ACRES
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 1173 759
95 CROP MACHINERY INVESTMENT 91,065 77.62 119.99
96 CROP MACHINERY COST 36,374 31.00 47.93
97 GROSS CROP VALUE 90,801 73.88 114.21
98 CROP PRODUCTION COSTS 83,079 70.81 109.47
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN
100 GRAIN SORGHUM 10 168 102 36.5 195 26.6
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 19 499 276 9.9 441 14.7
104 OTHER CROPS
105 ALFALFA
106 OTHER HAY & FORAGE 6 83 79
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 5 340 276 127.5
111 GRAIN SORGHUM
112 SOYBEANS
113 SUNFLOWERS
114 WHEAT 6 169 149 26.3
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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