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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
INCOME AND EXPENSE ANALYSIS
**BY OWNERSHIP TYPE CORPORATIONS PARTNERSHIP - OWNER
13 FARMS 5 FARMS
ITEM PER FARM PER FARM
1 BEEF 288,536 108,746
2 DAIRY AND MILK
3 SHEEP
4 SWINE 17
5 POULTRY AND EGGS
6 OTHER LIVESTOCK 185- 2,255-
7 CUSTOM FEEDING 1,500 20,568
8 FEED PURCHASED 116,255- 14,052-
9 LIVESTOCK INCOME $173,614 $113,007
10 CORN 69,714 121,458
11 GRAIN SORGHUM 5,606 221-
12 SOYBEANS 21,781 14,227
13 SUNFLOWERS 10,795 1,618-
14 WHEAT 31,076 31,276
15 HAY AND FORAGE 100 7,076-
16 OTHER CROP 3,509- 18,573
17 GOVERNMENT PAYMENTS 45,486 43,644
18 CROP INSURANCE PROCEEDS 80,997 44,268
19 OTHER INCOME 50,241 39,795
20 VALUE OF FARM PRODUCTION $485,900 $417,334
21 HIRED LABOR 38,773 15,125
22 MACHINERY REPAIRS 41,973 50,858
23 IRRIGATION REPAIRS 2,137 6,230
24 BUILDING REPAIRS 1,454 2,395
25 INTEREST PAID 22,575 39,715
26 SEED-OTHER CROP EXPENSE 31,788 25,938
27 CROP INSURANCE 11,665 14,468
28 FERTILIZER-LIME 32,722 35,496
29 MACHINE HIRE 20,028 32,833
30 ORGANIZATION FEE, PUBLICATION 5,404 5,251
31 VET-MED-DRUGS 5,740 4,761
32 CROP STORAGE-MARKETING 4,146 1,170
33 LIVESTOCK MARKETING-BREEDING 4,906 1,056
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 16,764 29,785
36 IRRIGATION ENERGY 24,322 37,106
37 REAL ESTATE TAXES 2,252 8,893
38 PERSONAL PROPERTY TAXES 723 220
39 GENERAL FARM INSURANCE 7,186 9,730
40 UTILITIES 10,751 3,310
41 CASH FARM RENT 45,555 18,300
42 HERBICIDE-INSECTICIDE 34,999 42,242
43 CONSERVATION 172
44 AUTO EXPENSE 436 1,515
45 TOTAL OPERATING EXPENSE $366,472 $386,396
46 DEPRECIATION-MACHINERY 34,956 37,150
47 DEPRECIATION-BUILDINGS 1,968 485
48 TOTAL FARM EXPENSE $403,396 $424,031
49 NET FARM INCOME $82,504 $6,697-
50 UNPAID FAMILY LABOR 1,212 2,250
51 UNPAID OPERATOR LABOR 25,754 26,460
52 MANAGEMENT CHARGE 21,275 5,056
53 CURRENT ASSET CHARGE - 8% 32,844 2,241
54 NONCURRENT ASSET CHARGE - 8% 28,401 48,125
55 RETURN LABOR-MANAGEMENT 20,047 59,313-
56 RETURN TO CAPITAL 56,839 748-
57 ASSET TURNOVER RATIO .4114 .3370
58 OPERATING PROFIT MARGIN RATIO .1170 .0018-
59 % RETURN ON ASSETS .0481 .0006-
60 % RETURN ON EQUITY .0448 .0643-
61 TOTAL EXPENSE RATIO .8302 1.0160
62 ADJUSTED TOTAL EXPENSE RATIO .9295 1.0970
63 ECONOMIC TOTAL EXPENSE RATIO 1.0555 1.2176
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 614,600 725,607 303,843 299,898
65 NONCURRENT ASSETS 507,500 514,391 944,197 929,180
66 CURRENT LIABILITIES 206,688 312,423 316,002 231,713
67 NONCURRENT LIABILITIES 140,475 171,393 314,674 355,574
68 CURRENT RATIO 2.97 2.32 .96 1.29
69 DEBT TO ASSET RATIO .31 .39 .51 .48
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY OWNERSHIP TYPE CORPORATIONS PARTNERSHIP - OWNER
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 72,341 39,240
71 MACHINERY AND EQUIPMENT 132,176 137,953
72 MOTOR VEHICLES & LISTED PROPERTY 147,751 166,028
73 BUILDINGS 16,456 6,195
74 OWNED LAND 185,918 615,309
75 TOTAL ASSETS 1,181,049 1,238,559
76 NET WORTH 765,559 629,577
LABOR
77 NUMBER OF OPERATORS .95 .98
78 NUMBER OF WORKERS 1.60 1.52
79 TOTAL WORK DAYS 461 354
80 VALUE FARM PRODUCTION/WORKER 302,235 274,562
81 NET FARM INCOME/WORKER 51,318 4,406-
PER OPERATOR BASIS
82 TOTAL ASSETS 1,238,197 1,263,836
83 VALUE OF FARM PRODUCTION 509,411 425,851
84 NET FARM INCOME 86,496 6,834-
OTHER FACTORS
85 % CROP ACRES IRRIGATED 17.43 33.84
86 % TILLABLE LAND 70.04 71.45
87 CROP MACH COST/TOT EXPENSE(%) 23.16 25.61
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 3585 13 3394 12 2484 5
89 NON-IRRIGATED CROP ACRES 2246 12 2161 11 1174 5
90 IRRIGATED CROP ACRES 711 8 614 7
91 TOTAL CROP ACRES 2720 12 2552 11 1775 5
92 PASTURE ACRES 1991 7 1804 7
93 FARMSTEAD ACRES
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 2510 2050 1775 1513
95 CROP MACHINERY INVESTMENT 242,095 96.43 118.11 252,317 142.15 166.78
96 CROP MACHINERY COST 93,438 37.22 45.59 108,612 61.19 71.79
97 GROSS CROP VALUE 322,772 118.68 145.36 272,278 153.40 179.98
98 CROP PRODUCTION COSTS 290,356 115.66 141.66 297,247 167.46 196.48
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 10 691 710 45.6
100 GRAIN SORGHUM 6 320 328 30.0
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 11 833 827 12.2 5 562 355 17.5
104 OTHER CROPS
105 ALFALFA
106 OTHER HAY & FORAGE 4 97
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 8 363 303 197.6 4 445
111 GRAIN SORGHUM
112 SOYBEANS 7 228 236 49.1
113 SUNFLOWERS
114 WHEAT 6 127 149 40.8
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 533
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 OWNERSHIP TYPE SINGLE - OWNER SINGLE - PARTOWNER
7 FARMS 137 FARMS
ITEM PER FARM PER FARM
1 BEEF 22,212 44,591
2 DAIRY AND MILK
3 SHEEP 1,732
4 SWINE 17-
5 POULTRY AND EGGS 1,790
6 OTHER LIVESTOCK 462-
7 CUSTOM FEEDING 1,185
8 FEED PURCHASED 7,362- 11,490-
9 LIVESTOCK INCOME $14,850 $37,330
10 CORN 6,226 69,881
11 GRAIN SORGHUM 13,572 8,496
12 SOYBEANS 3,868 8,477
13 SUNFLOWERS 5,228
14 WHEAT 12,022 18,206
15 HAY AND FORAGE 1,246 4,966
16 OTHER CROP 3,149- 3,063
17 GOVERNMENT PAYMENTS 12,509 33,868
18 CROP INSURANCE PROCEEDS 10,279 60,658
19 OTHER INCOME 13,523 15,153
20 VALUE OF FARM PRODUCTION $84,945 $265,326
21 HIRED LABOR 1,301 8,609
22 MACHINERY REPAIRS 4,650 18,783
23 IRRIGATION REPAIRS 468 2,234
24 BUILDING REPAIRS 1,677 855
25 INTEREST PAID 15,516 17,620
26 SEED-OTHER CROP EXPENSE 3,792 16,321
27 CROP INSURANCE 2,461 11,627
28 FERTILIZER-LIME 15,003 20,816
29 MACHINE HIRE 5,746 12,134
30 ORGANIZATION FEE, PUBLICATION 1,252 2,921
31 VET-MED-DRUGS 716 1,255
32 CROP STORAGE-MARKETING 431 919
33 LIVESTOCK MARKETING-BREEDING 8 1,083
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 2,721 14,312
36 IRRIGATION ENERGY 19,226
37 REAL ESTATE TAXES 5,523 4,645
38 PERSONAL PROPERTY TAXES 78 259
39 GENERAL FARM INSURANCE 1,384 5,129
40 UTILITIES 1,795 2,701
41 CASH FARM RENT 3,050 14,621
42 HERBICIDE-INSECTICIDE 4,483 20,667
43 CONSERVATION 407 170
44 AUTO EXPENSE 920 1,445
45 TOTAL OPERATING EXPENSE $73,382 $198,354
46 DEPRECIATION-MACHINERY 3,629 20,636
47 DEPRECIATION-BUILDINGS 1,822 1,716
48 TOTAL FARM EXPENSE $78,833 $220,706
49 NET FARM INCOME $6,112 $44,620
50 UNPAID FAMILY LABOR 2,201
51 UNPAID OPERATOR LABOR 9,643 20,358
52 MANAGEMENT CHARGE 2,646 11,789
53 CURRENT ASSET CHARGE - 8% 6,097 10,549
54 NONCURRENT ASSET CHARGE - 8% 30,034 35,018
55 RETURN LABOR-MANAGEMENT 30,020- 3,148-
56 RETURN TO CAPITAL 9,339 27,892
57 ASSET TURNOVER RATIO .1311 .2935
58 OPERATING PROFIT MARGIN RATIO .1099 .1051
59 % RETURN ON ASSETS .0144 .0309
60 % RETURN ON EQUITY .0137- .0180
61 TOTAL EXPENSE RATIO .9281 .8318
62 ADJUSTED TOTAL EXPENSE RATIO 1.0727 .9613
63 ECONOMIC TOTAL EXPENSE RATIO 1.4981 1.1330
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 89,050 98,099 227,003 238,851
65 NONCURRENT ASSETS 552,611 556,122 654,382 688,018
66 CURRENT LIABILITIES 19,389 15,335 98,377 103,746
67 NONCURRENT LIABILITIES 174,585 183,291 224,798 242,161
68 CURRENT RATIO 4.59 6.40 2.31 2.30
69 DEBT TO ASSET RATIO .30 .30 .37 .37
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY OWNERSHIP TYPE SINGLE - OWNER SINGLE - PARTOWNER
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 22,107 38,692
71 MACHINERY AND EQUIPMENT 11,166 82,583
72 MOTOR VEHICLES & LISTED PROPERTY 32,468 86,537
73 BUILDINGS 15,601 16,184
74 OWNED LAND 493,008 462,947
75 TOTAL ASSETS 647,941 904,127
76 NET WORTH 451,641 569,586
LABOR
77 NUMBER OF OPERATORS .35 .75
78 NUMBER OF WORKERS .41 1.13
79 TOTAL WORK DAYS 118 280
80 VALUE FARM PRODUCTION/WORKER 205,039 234,514
81 NET FARM INCOME/WORKER 14,752 39,438
PER OPERATOR BASIS
82 TOTAL ASSETS 1,814,234 1,199,084
83 VALUE OF FARM PRODUCTION 237,845 351,885
84 NET FARM INCOME 17,112 59,177
OTHER FACTORS
85 % CROP ACRES IRRIGATED 10.36 18.50
86 % TILLABLE LAND 59.33 70.99
87 CROP MACH COST/TOT EXPENSE(%) 25.55 30.83
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 1183 7 1183 7 2590 137 941 137 1661 136
89 NON-IRRIGATED CROP ACRES 629 7 629 7 1521 135 552 131 1072 124
90 IRRIGATED CROP ACRES 590 79 294 57 481 62
91 TOTAL CROP ACRES 702 7 702 7 1866 135 675 132 1292 126
92 PASTURE ACRES 671 5 671 5 1118 91 486 80 981 64
93 FARMSTEAD ACRES 28 43 23 38 41 8
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 702 474 1839 1431
95 CROP MACHINERY INVESTMENT 41,734 59.46 88.06 157,731 85.79 110.22
96 CROP MACHINERY COST 20,140 28.70 42.50 68,036 37.01 47.54
97 GROSS CROP VALUE 63,646 90.68 134.30 215,532 116.38 149.52
98 CROP PRODUCTION COSTS 60,853 86.70 128.40 181,481 98.71 126.82
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 55 464 205 40.3 381 36.7
100 GRAIN SORGHUM 5 195 195 65.9 75 361 179 30.9 269 31.2
101 SOYBEANS 11 105 76 5.6 87 14.0
102 SUNFLOWERS 11 172 104 7.2 171 11.5
103 WHEAT 6 225 225 19.2 128 659 261 9.0 475 10.1
104 OTHER CROPS 8 100 89 90
105 ALFALFA 18 45 33 2.4 42 2.7
106 OTHER HAY & FORAGE 43 141 85 126
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 48 461 218 195.6 383 195.6
111 GRAIN SORGHUM 12 91 67 73.1
112 SOYBEANS 33 166 118 43.8 147 45.6
113 SUNFLOWERS 19 156 141 17.1 98 17.8
114 WHEAT 46 237 148 31.8 205 28.6
115 OTHER CROPS 10 139 91 128
116 ALFALFA 11 126 67 4.9 131 5.1
117 OTHER HAY & FORAGE 21 142 88 128
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 36
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 OWNERSHIP TYPE SINGLE - TENANT
12 FARMS
ITEM PER FARM PER FARM
1 BEEF 58,085
2 DAIRY AND MILK 108-
3 SHEEP 50
4 SWINE
5 POULTRY AND EGGS
6 OTHER LIVESTOCK 3,096
7 CUSTOM FEEDING
8 FEED PURCHASED 2,600
9 LIVESTOCK INCOME $63,721
10 CORN 45,666
11 GRAIN SORGHUM 18,804
12 SOYBEANS 7,542
13 SUNFLOWERS 4,144
14 WHEAT 10,271
15 HAY AND FORAGE 4,820-
16 OTHER CROP 670
17 GOVERNMENT PAYMENTS 22,076
18 CROP INSURANCE PROCEEDS 36,063
19 OTHER INCOME 18,044
20 VALUE OF FARM PRODUCTION $222,181
21 HIRED LABOR 9,673
22 MACHINERY REPAIRS 12,585
23 IRRIGATION REPAIRS 2,120
24 BUILDING REPAIRS 1,351
25 INTEREST PAID 6,107
26 SEED-OTHER CROP EXPENSE 11,150
27 CROP INSURANCE 6,347
28 FERTILIZER-LIME 16,264
29 MACHINE HIRE 12,027
30 ORGANIZATION FEE, PUBLICATION 1,861
31 VET-MED-DRUGS 983
32 CROP STORAGE-MARKETING 670
33 LIVESTOCK MARKETING-BREEDING 1,527
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 10,522
36 IRRIGATION ENERGY 15,528
37 REAL ESTATE TAXES 1,117
38 PERSONAL PROPERTY TAXES 224
39 GENERAL FARM INSURANCE 2,687
40 UTILITIES 3,037
41 CASH FARM RENT 29,652
42 HERBICIDE-INSECTICIDE 14,186
43 CONSERVATION
44 AUTO EXPENSE 2,478
45 TOTAL OPERATING EXPENSE $162,095
46 DEPRECIATION-MACHINERY 17,761
47 DEPRECIATION-BUILDINGS 671
48 TOTAL FARM EXPENSE $180,527
49 NET FARM INCOME $41,655
50 UNPAID FAMILY LABOR 2,250
51 UNPAID OPERATOR LABOR 19,125
52 MANAGEMENT CHARGE 10,055
53 CURRENT ASSET CHARGE - 8% 11,934
54 NONCURRENT ASSET CHARGE - 8% 8,327
55 RETURN LABOR-MANAGEMENT 19,144
56 RETURN TO CAPITAL 16,332
57 ASSET TURNOVER RATIO .6212
58 OPERATING PROFIT MARGIN RATIO .0735
59 % RETURN ON ASSETS .0457
60 % RETURN ON EQUITY .0404
61 TOTAL EXPENSE RATIO .8125
62 ADJUSTED TOTAL EXPENSE RATIO .9540
63 ECONOMIC TOTAL EXPENSE RATIO 1.0452
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 205,001 217,157
65 NONCURRENT ASSETS 135,272 157,894
66 CURRENT LIABILITIES 55,530 68,268
67 NONCURRENT LIABILITIES 32,323 52,674
68 CURRENT RATIO 3.69 3.18
69 DEBT TO ASSET RATIO .26 .32
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY OWNERSHIP TYPE SINGLE - TENANT
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 51,094
71 MACHINERY AND EQUIPMENT 42,710
72 MOTOR VEHICLES & LISTED PROPERTY 65,688
73 BUILDINGS 5,016
74 OWNED LAND 29,658
75 TOTAL ASSETS 357,662
76 NET WORTH 253,265
LABOR
77 NUMBER OF OPERATORS .70
78 NUMBER OF WORKERS 1.01
79 TOTAL WORK DAYS 240
80 VALUE FARM PRODUCTION/WORKER 218,539
81 NET FARM INCOME/WORKER 40,972
PER OPERATOR BASIS
82 TOTAL ASSETS 504,935
83 VALUE OF FARM PRODUCTION 313,668
84 NET FARM INCOME 58,807
OTHER FACTORS
85 % CROP ACRES IRRIGATED 21.68
86 % TILLABLE LAND 62.90
87 CROP MACH COST/TOT EXPENSE(%) 27.37
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 2111 12 2111 12
89 NON-IRRIGATED CROP ACRES 1134 11 1134 11
90 IRRIGATED CROP ACRES 432 8 432 8
91 TOTAL CROP ACRES 1448 11 1448 11
92 PASTURE ACRES 1566 6 1566 6
93 FARMSTEAD ACRES
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 1327 1082
95 CROP MACHINERY INVESTMENT 101,053 76.13 93.36
96 CROP MACHINERY COST 49,404 37.22 45.64
97 GROSS CROP VALUE 164,829 124.17 152.28
98 CROP PRODUCTION COSTS 142,319 98.28 120.53
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 9 397 397 36.6
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 10 368 368 14.1
104 OTHER CROPS
105 ALFALFA 4 77 77 1.9
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 4 260 260 200.8
111 GRAIN SORGHUM
112 SOYBEANS 4 102 102 41.5
113 SUNFLOWERS
114 WHEAT 5 171 171 19.5
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 43
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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