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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
INCOME AND EXPENSE ANALYSIS
**BY VALUE OF FARM PRODUCTION *** - 100000 *** *** 100001 - 250000 ***
33 FARMS 69 FARMS
ITEM PER FARM PER FARM
1 BEEF 15,545 43,629
2 DAIRY AND MILK 15-
3 SHEEP 18 90
4 SWINE
5 POULTRY AND EGGS 72 3,105
6 OTHER LIVESTOCK 350 851-
7 CUSTOM FEEDING 672 1,323
8 FEED PURCHASED 4,858- 6,838-
9 LIVESTOCK INCOME $11,784 $40,458
10 CORN 2,348 12,221
11 GRAIN SORGHUM 1,987 8,768
12 SOYBEANS 439 3,677
13 SUNFLOWERS 279 1,975
14 WHEAT 6,647 16,585
15 HAY AND FORAGE 3,158 1,234
16 OTHER CROP 591- 232
17 GOVERNMENT PAYMENTS 10,097 20,548
18 CROP INSURANCE PROCEEDS 15,861 47,411
19 OTHER INCOME 5,077 9,941
20 VALUE OF FARM PRODUCTION $57,086 $163,049
21 HIRED LABOR 2,435 4,838
22 MACHINERY REPAIRS 6,552 16,167
23 IRRIGATION REPAIRS 532 666
24 BUILDING REPAIRS 512 720
25 INTEREST PAID 3,315 10,994
26 SEED-OTHER CROP EXPENSE 2,233 8,647
27 CROP INSURANCE 1,950 6,555
28 FERTILIZER-LIME 2,728 12,739
29 MACHINE HIRE 2,988 6,361
30 ORGANIZATION FEE, PUBLICATION 1,474 2,407
31 VET-MED-DRUGS 732 1,323
32 CROP STORAGE-MARKETING 183 255
33 LIVESTOCK MARKETING-BREEDING 737 940
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 4,073 11,580
36 IRRIGATION ENERGY 370 4,854
37 REAL ESTATE TAXES 2,967 3,822
38 PERSONAL PROPERTY TAXES 196 206
39 GENERAL FARM INSURANCE 2,007 3,846
40 UTILITIES 1,613 2,266
41 CASH FARM RENT 3,889 9,604
42 HERBICIDE-INSECTICIDE 3,077 12,470
43 CONSERVATION 61 118
44 AUTO EXPENSE 1,361 1,270
45 TOTAL OPERATING EXPENSE $45,984 $122,648
46 DEPRECIATION-MACHINERY 6,253 12,648
47 DEPRECIATION-BUILDINGS 435 1,539
48 TOTAL FARM EXPENSE $52,672 $136,836
49 NET FARM INCOME $4,414 $26,213
50 UNPAID FAMILY LABOR 750 1,891
51 UNPAID OPERATOR LABOR 12,109 20,974
52 MANAGEMENT CHARGE 2,770 7,767
53 CURRENT ASSET CHARGE - 8% 7,458 8,302
54 NONCURRENT ASSET CHARGE - 8% 23,915 27,587
55 RETURN LABOR-MANAGEMENT 27,709- 11,567-
56 RETURN TO CAPITAL 7,901- 6,575
57 ASSET TURNOVER RATIO .1189 .2501
58 OPERATING PROFIT MARGIN RATIO .1384- .0403
59 % RETURN ON ASSETS .0165- .0101
60 % RETURN ON EQUITY .0286- .0099-
61 TOTAL EXPENSE RATIO .9227 .8392
62 ADJUSTED TOTAL EXPENSE RATIO 1.1965 1.0271
63 ECONOMIC TOTAL EXPENSE RATIO 1.7460 1.2472
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 122,013 120,318 161,176 158,881
65 NONCURRENT ASSETS 353,893 363,969 489,534 494,454
66 CURRENT LIABILITIES 20,818 35,065 56,188 56,314
67 NONCURRENT LIABILITIES 60,380 59,604 151,764 142,547
68 CURRENT RATIO 5.86 3.43 2.87 2.82
69 DEBT TO ASSET RATIO .17 .20 .32 .30
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY VALUE OF FARM PRODUCTION *** - 100000 *** *** 100001 - 250000 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 26,268 44,555
71 MACHINERY AND EQUIPMENT 19,851 49,477
72 MOTOR VEHICLES & LISTED PROPERTY 37,126 65,722
73 BUILDINGS 4,648 13,270
74 OWNED LAND 293,136 352,649
75 TOTAL ASSETS 480,096 652,022
76 NET WORTH 392,163 448,615
LABOR
77 NUMBER OF OPERATORS .44 .77
78 NUMBER OF WORKERS .52 1.00
79 TOTAL WORK DAYS 94 206
80 VALUE FARM PRODUCTION/WORKER 108,892 161,876
81 NET FARM INCOME/WORKER 8,420 26,025
PER OPERATOR BASIS
82 TOTAL ASSETS 1,070,485 839,357
83 VALUE OF FARM PRODUCTION 127,286 209,896
84 NET FARM INCOME 9,842 33,745
OTHER FACTORS
85 % CROP ACRES IRRIGATED 4.61 8.73
86 % TILLABLE LAND 44.72 68.46
87 CROP MACH COST/TOT EXPENSE(%) 38.03 34.62
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 1657 33 916 29 1004 28 2256 69 934 62 1481 66
89 NON-IRRIGATED CROP ACRES 777 30 431 27 584 20 1410 69 580 58 1026 62
90 IRRIGATED CROP ACRES 141 8 321 29 243 20 247 18
91 TOTAL CROP ACRES 815 30 460 27 601 20 1544 69 653 59 1080 63
92 PASTURE ACRES 1303 23 695 20 1005 16 1016 48 457 42 845 35
93 FARMSTEAD ACRES 22 11 23 10 24 14 17 12
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 741 407 1544 1161
95 CROP MACHINERY INVESTMENT 50,376 67.99 123.70 105,590 68.37 90.97
96 CROP MACHINERY COST 20,029 27.03 49.18 47,369 30.67 40.81
97 GROSS CROP VALUE 36,092 47.24 85.94 120,753 78.19 104.03
98 CROP PRODUCTION COSTS 41,277 54.03 98.29 109,998 71.23 94.76
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 6 130 84 33.4 22 264 187 40.0 238 42.2
100 GRAIN SORGHUM 14 136 83 42.0 135 24.7 51 273 173 32.7 200 30.9
101 SOYBEANS 6 139 89 5.4 120 6.3
102 SUNFLOWERS 4 238
103 WHEAT 27 338 163 12.9 308 12.7 67 647 294 9.7 462 11.3
104 OTHER CROPS
105 ALFALFA 4 36 16 45 38 2.4 42 3.0
106 OTHER HAY & FORAGE 6 51 38 27 172 114 147
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 14 231 184 181.9 265 167.9
111 GRAIN SORGHUM 8 75 68 87.7
112 SOYBEANS 12 157 149 38.6 105 43.2
113 SUNFLOWERS
114 WHEAT 16 159 140 37.3 160 27.7
115 OTHER CROPS
116 ALFALFA 5 33 36 3.7
117 OTHER HAY & FORAGE 7 116 86 76
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 2
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
INCOME AND EXPENSE ANALYSIS
**BY VALUE OF FARM PRODUCTION *** 250001 - 500000 *** *** 500001 - ***
53 FARMS 26 FARMS
ITEM PER FARM PER FARM
1 BEEF 62,027 183,241
2 DAIRY AND MILK 15-
3 SHEEP 4,360
4 SWINE 39-
5 POULTRY AND EGGS 540
6 OTHER LIVESTOCK 347- 288-
7 CUSTOM FEEDING 453 8,160
8 FEED PURCHASED 24,864- 49,386-
9 LIVESTOCK INCOME $42,115 $141,726
10 CORN 93,926 300,156
11 GRAIN SORGHUM 12,321 11,117
12 SOYBEANS 15,816 21,606
13 SUNFLOWERS 10,617 10,683
14 WHEAT 28,263 21,613
15 HAY AND FORAGE 8,620 873-
16 OTHER CROP 6,382 8,758
17 GOVERNMENT PAYMENTS 41,647 98,113
18 CROP INSURANCE PROCEEDS 65,452 139,403
19 OTHER INCOME 25,862 45,170
20 VALUE OF FARM PRODUCTION $351,020 $797,471
21 HIRED LABOR 13,215 41,779
22 MACHINERY REPAIRS 26,139 41,212
23 IRRIGATION REPAIRS 3,182 9,107
24 BUILDING REPAIRS 1,472 1,680
25 INTEREST PAID 23,001 44,171
26 SEED-OTHER CROP EXPENSE 21,252 64,544
27 CROP INSURANCE 15,249 27,525
28 FERTILIZER-LIME 28,944 63,995
29 MACHINE HIRE 12,483 50,996
30 ORGANIZATION FEE, PUBLICATION 3,384 6,038
31 VET-MED-DRUGS 1,551 4,071
32 CROP STORAGE-MARKETING 1,652 4,533
33 LIVESTOCK MARKETING-BREEDING 1,821 2,314
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 18,716 30,735
36 IRRIGATION ENERGY 27,549 69,763
37 REAL ESTATE TAXES 4,403 6,988
38 PERSONAL PROPERTY TAXES 291 521
39 GENERAL FARM INSURANCE 6,459 10,389
40 UTILITIES 3,300 8,417
41 CASH FARM RENT 22,720 52,272
42 HERBICIDE-INSECTICIDE 26,908 67,432
43 CONSERVATION 167 470
44 AUTO EXPENSE 1,663 1,435
45 TOTAL OPERATING EXPENSE $265,522 $610,387
46 DEPRECIATION-MACHINERY 29,110 51,467
47 DEPRECIATION-BUILDINGS 1,603 3,616
48 TOTAL FARM EXPENSE $296,235 $665,470
49 NET FARM INCOME $54,785 $132,002
50 UNPAID FAMILY LABOR 2,844 2,596
51 UNPAID OPERATOR LABOR 22,670 25,027
52 MANAGEMENT CHARGE 14,508 31,047
53 CURRENT ASSET CHARGE - 8% 13,171 23,411
54 NONCURRENT ASSET CHARGE - 8% 36,591 47,781
55 RETURN LABOR-MANAGEMENT 2,179 58,213
56 RETURN TO CAPITAL 37,764 117,502
57 ASSET TURNOVER RATIO .3539 .4463
58 OPERATING PROFIT MARGIN RATIO .1076 .1473
59 % RETURN ON ASSETS .0381 .0658
60 % RETURN ON EQUITY .0237 .0824
61 TOTAL EXPENSE RATIO .8439 .8345
62 ADJUSTED TOTAL EXPENSE RATIO .9579 .9080
63 ECONOMIC TOTAL EXPENSE RATIO 1.0997 .9973
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 281,342 301,010 606,072 702,294
65 NONCURRENT ASSETS 683,996 717,330 1,079,596 1,185,975
66 CURRENT LIABILITIES 119,781 133,296 352,353 370,738
67 NONCURRENT LIABILITIES 233,078 253,483 485,826 585,215
68 CURRENT RATIO 2.35 2.26 1.72 1.89
69 DEBT TO ASSET RATIO .37 .38 .50 .51
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, NW
ANALYSIS OF THE FARM BUSINESS
**BY VALUE OF FARM PRODUCTION *** 250001 - 500000 *** *** 500001 - ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 32,417 68,558
71 MACHINERY AND EQUIPMENT 121,067 187,057
72 MOTOR VEHICLES & LISTED PROPERTY 110,512 190,369
73 BUILDINGS 15,787 33,804
74 OWNED LAND 433,026 652,887
75 TOTAL ASSETS 991,839 1,786,968
76 NET WORTH 622,020 889,902
LABOR
77 NUMBER OF OPERATORS .83 .92
78 NUMBER OF WORKERS 1.32 2.09
79 TOTAL WORK DAYS 355 696
80 VALUE FARM PRODUCTION/WORKER 265,393 380,445
81 NET FARM INCOME/WORKER 41,421 62,973
PER OPERATOR BASIS
82 TOTAL ASSETS 1,181,292 1,927,850
83 VALUE OF FARM PRODUCTION 418,069 860,342
84 NET FARM INCOME 65,249 142,409
OTHER FACTORS
85 % CROP ACRES IRRIGATED 22.31 33.49
86 % TILLABLE LAND 79.33 76.44
87 CROP MACH COST/TOT EXPENSE(%) 30.00 24.70
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 2881 53 927 43 2212 51 4142 26 1413 20 3055 26
89 NON-IRRIGATED CROP ACRES 1809 52 548 43 1439 49 2491 26 812 20 1866 26
90 IRRIGATED CROP ACRES 614 44 271 27 519 38 1199 23 472 16 870 23
91 TOTAL CROP ACRES 2329 52 718 43 1805 50 3167 26 1189 20 2252 26
92 PASTURE ACRES 1109 28 429 20 1183 19 2101 12 633 7 2309 9
93 FARMSTEAD ACRES 29 18 26 16
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 2285 1794 3167 3135
95 CROP MACHINERY INVESTMENT 212,950 93.18 118.72 354,338 111.90 113.03
96 CROP MACHINERY COST 88,860 38.88 49.54 164,397 51.91 52.44
97 GROSS CROP VALUE 282,165 121.14 154.34 631,290 199.36 201.37
98 CROP PRODUCTION COSTS 242,210 105.99 135.03 530,654 167.58 169.27
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 27 553 189 37.6 461 42.0 21 936 343 39.6 724 43.0
100 GRAIN SORGHUM 26 548 200 32.0 465 36.1 8 528 318 27.3 329 24.7
101 SOYBEANS 8 157 192 17.7
102 SUNFLOWERS 7 159 159 10.6
103 WHEAT 48 694 249 8.4 563 10.7 25 964 341 5.5 719 6.1
104 OTHER CROPS 4 91 4 99
105 ALFALFA 4 145 80 2.6
106 OTHER HAY & FORAGE 13 116 83 84 6 95 91
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 31 332 162 197.0 275 197.4 21 867 341 202.6 640 198.1
111 GRAIN SORGHUM 4 140 140 81.2
112 SOYBEANS 21 155 114 49.0 157 45.1 13 232 108 37.4 240 44.1
113 SUNFLOWERS 16 188 165 17.4 132 16.1
114 WHEAT 30 223 151 34.0 187 32.3 14 294 126 21.8 259 17.8
115 OTHER CROPS 10 139 73 147
116 ALFALFA 5 217 92 5.2 180 5.9 6 72 52 4.5
117 OTHER HAY & FORAGE 12 172 47 170 10 168 116 218
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 87 287
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
%%ISCC CHANGE_OVERLAY SUMMF2003
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