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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
INCOME AND EXPENSE ANALYSIS
**BY ACRES *** - 500 *** *** 501 - 1000 ***
35 FARMS 40 FARMS
ITEM PER FARM PER FARM
1 BEEF 40,396 28,669
2 DAIRY AND MILK 33
3 SHEEP 72
4 SWINE 9 2
5 POULTRY AND EGGS 3,855
6 OTHER LIVESTOCK 1,229 549-
7 CUSTOM FEEDING 513 13,011
8 FEED PURCHASED 8,756- 8,275-
9 LIVESTOCK INCOME $33,495 $36,714
10 CORN 10,671 54,988
11 GRAIN SORGHUM 1,779 7,363
12 SOYBEANS 316 5,475
13 SUNFLOWERS 1,219 937
14 WHEAT 7,064 20,348
15 HAY AND FORAGE 4,151 11,986
16 OTHER CROP 287 2,289
17 GOVERNMENT PAYMENTS 11,303 23,333
18 CROP INSURANCE PROCEEDS 1,722 8,994
19 OTHER INCOME 11,075 7,043
20 VALUE OF FARM PRODUCTION $83,083 $179,468
21 HIRED LABOR 2,944 9,074
22 MACHINERY REPAIRS 7,851 14,815
23 IRRIGATION REPAIRS 1,615 3,204
24 BUILDING REPAIRS 707 1,478
25 INTEREST PAID 7,329 11,711
26 SEED-OTHER CROP EXPENSE 1,881 12,077
27 CROP INSURANCE 1,130 4,429
28 FERTILIZER-LIME 4,088 14,502
29 MACHINE HIRE 5,444 10,578
30 ORGANIZATION FEE, PUBLICATION 1,717 2,291
31 VET-MED-DRUGS 1,293 886
32 CROP STORAGE-MARKETING 182 529
33 LIVESTOCK MARKETING-BREEDING 1,138 281
34 DAIRY EXPENSE 3
35 GAS-FUEL-OIL 3,327 10,740
36 IRRIGATION ENERGY 4,197 13,272
37 REAL ESTATE TAXES 2,881 4,468
38 PERSONAL PROPERTY TAXES 882 515
39 GENERAL FARM INSURANCE 3,431 3,820
40 UTILITIES 2,653 3,443
41 CASH FARM RENT 3,285 3,429
42 HERBICIDE-INSECTICIDE 2,856 11,781
43 CONSERVATION 1,093
44 AUTO EXPENSE 897 1,254
45 TOTAL OPERATING EXPENSE $61,725 $139,674
46 DEPRECIATION-MACHINERY 8,134 11,253
47 DEPRECIATION-BUILDINGS 1,241 4,931
48 TOTAL FARM EXPENSE $71,100 $155,857
49 NET FARM INCOME $11,982 $23,611
50 UNPAID FAMILY LABOR 771 1,519
51 UNPAID OPERATOR LABOR 14,657 23,423
52 MANAGEMENT CHARGE 3,752 6,924
53 CURRENT ASSET CHARGE - 8% 5,948 5,924
54 NONCURRENT ASSET CHARGE - 8% 13,420 21,660
55 RETURN LABOR-MANAGEMENT 8,157- 5,492-
56 RETURN TO CAPITAL 131 3,457
57 ASSET TURNOVER RATIO .2341 .3306
58 OPERATING PROFIT MARGIN RATIO .0016 .0193
59 % RETURN ON ASSETS .0004 .0064
60 % RETURN ON EQUITY .0297- .0239-
61 TOTAL EXPENSE RATIO .8558 .8684
62 ADJUSTED TOTAL EXPENSE RATIO 1.0866 1.0460
63 ECONOMIC TOTAL EXPENSE RATIO 1.3198 1.1997
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 107,807 117,225 114,264 122,904
65 NONCURRENT ASSETS 242,172 242,593 422,022 426,458
66 CURRENT LIABILITIES 42,071 34,250 39,408 49,658
67 NONCURRENT LIABILITIES 76,534 72,732 147,809 159,171
68 CURRENT RATIO 2.56 3.42 2.90 2.48
69 DEBT TO ASSET RATIO .34 .30 .35 .38
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
ANALYSIS OF THE FARM BUSINESS
**BY ACRES *** - 500 *** *** 501 - 1000 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 30,103 18,391
71 MACHINERY AND EQUIPMENT 40,905 56,212
72 MOTOR VEHICLES & LISTED PROPERTY 29,371 47,444
73 BUILDINGS 12,137 44,476
74 OWNED LAND 150,026 259,056
75 TOTAL ASSETS 354,899 542,824
76 NET WORTH 242,105 344,802
LABOR
77 NUMBER OF OPERATORS .54 .86
78 NUMBER OF WORKERS .70 1.21
79 TOTAL WORK DAYS 71 146
80 VALUE FARM PRODUCTION/WORKER 118,207 148,321
81 NET FARM INCOME/WORKER 17,048 19,513
PER OPERATOR BASIS
82 TOTAL ASSETS 653,761 625,734
83 VALUE OF FARM PRODUCTION 153,047 206,880
84 NET FARM INCOME 22,073 27,218
OTHER FACTORS
85 % CROP ACRES IRRIGATED 15.54 38.89
86 % TILLABLE LAND 27.80 61.14
87 CROP MACH COST/TOT EXPENSE(%) 27.83 32.24
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 1037 31 656 23 710 24 1261 40 902 30 687 34
89 NON-IRRIGATED CROP ACRES 290 26 206 20 245 14 538 35 343 27 330 29
90 IRRIGATED CROP ACRES 174 8 126 5 127 6 480 25 200 14 511 18
91 TOTAL CROP ACRES 308 29 226 21 247 17 771 40 416 29 552 34
92 PASTURE ACRES 1147 20 599 17 1064 12 1073 18 1063 14 553 8
93 FARMSTEAD ACRES 23 11 19 9 16 5 16 18 8 12 17 11
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 255 142 771 577
95 CROP MACHINERY INVESTMENT 57,702 226.00 406.01 94,461 122.54 163.76
96 CROP MACHINERY COST 19,787 77.50 139.23 50,241 65.18 87.10
97 GROSS CROP VALUE 37,209 129.08 231.89 160,645 208.40 278.50
98 CROP PRODUCTION COSTS 49,351 187.77 337.33 136,679 177.31 236.95
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 7 83 70 55.3 76 71.4 19 120 102 58.4 90 58.4
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 14 143 81 25.9 143 37.2 30 266 173 30.8 181 26.3
104 OTHER CROPS
105 ALFALFA
106 OTHER HAY & FORAGE 10 76 49 75 8 100 82
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 5 108 68 196.0 18 319 176 184.3 346 220.9
111 GRAIN SORGHUM 6 113 125 113.9
112 SOYBEANS 8 128 137 56.2
113 SUNFLOWERS
114 WHEAT 11 203 66 48.9 219 57.0
115 OTHER CROPS
116 ALFALFA 8 171 99 4.5 195 5.1
117 OTHER HAY & FORAGE
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 30 14
122 DAIRY COWS
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 42 31
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
INCOME AND EXPENSE ANALYSIS
**BY ACRES *** 1001 - 1500 *** *** 1501 - 2000 ***
39 FARMS 27 FARMS
ITEM PER FARM PER FARM
1 BEEF 33,814 50,353
2 DAIRY AND MILK
3 SHEEP 113 2,773
4 SWINE
5 POULTRY AND EGGS
6 OTHER LIVESTOCK 162 3,508-
7 CUSTOM FEEDING 4,082
8 FEED PURCHASED 11,114- 8,959-
9 LIVESTOCK INCOME $27,057 $40,659
10 CORN 47,132 43,156
11 GRAIN SORGHUM 10,511 20,404
12 SOYBEANS 10,404 11,314
13 SUNFLOWERS 115- 73
14 WHEAT 35,559 54,720
15 HAY AND FORAGE 9,637 12,096
16 OTHER CROP 3,483 427
17 GOVERNMENT PAYMENTS 27,950 36,525
18 CROP INSURANCE PROCEEDS 10,456 21,442
19 OTHER INCOME 11,252 40,250
20 VALUE OF FARM PRODUCTION $193,327 $281,066
21 HIRED LABOR 7,524 17,293
22 MACHINERY REPAIRS 14,960 38,570
23 IRRIGATION REPAIRS 3,106 3,742
24 BUILDING REPAIRS 612 1,753
25 INTEREST PAID 8,588 16,097
26 SEED-OTHER CROP EXPENSE 12,135 25,763
27 CROP INSURANCE 5,266 6,873
28 FERTILIZER-LIME 18,220 18,808
29 MACHINE HIRE 12,082 14,310
30 ORGANIZATION FEE, PUBLICATION 2,107 3,875
31 VET-MED-DRUGS 2,041 2,618
32 CROP STORAGE-MARKETING 576 2,599
33 LIVESTOCK MARKETING-BREEDING 2,509 552
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 10,076 13,810
36 IRRIGATION ENERGY 16,782 13,325
37 REAL ESTATE TAXES 3,216 5,037
38 PERSONAL PROPERTY TAXES 885 1,462
39 GENERAL FARM INSURANCE 3,387 4,520
40 UTILITIES 2,901 3,910
41 CASH FARM RENT 4,920 14,395
42 HERBICIDE-INSECTICIDE 12,479 15,988
43 CONSERVATION 40 20
44 AUTO EXPENSE 829 396
45 TOTAL OPERATING EXPENSE $145,240 $225,717
46 DEPRECIATION-MACHINERY 13,316 20,876
47 DEPRECIATION-BUILDINGS 1,418 1,979
48 TOTAL FARM EXPENSE $159,974 $248,572
49 NET FARM INCOME $33,352 $32,494
50 UNPAID FAMILY LABOR 1,096 1,750
51 UNPAID OPERATOR LABOR 25,062 26,200
52 MANAGEMENT CHARGE 8,859 10,200
53 CURRENT ASSET CHARGE - 8% 7,025 6,455
54 NONCURRENT ASSET CHARGE - 8% 31,392 35,598
55 RETURN LABOR-MANAGEMENT 6,161- 11,309-
56 RETURN TO CAPITAL 6,924 10,441
57 ASSET TURNOVER RATIO .3111 .3269
58 OPERATING PROFIT MARGIN RATIO .0358 .0371
59 % RETURN ON ASSETS .0111 .0121
60 % RETURN ON EQUITY .0035- .0108-
61 TOTAL EXPENSE RATIO .8275 .8844
62 ADJUSTED TOTAL EXPENSE RATIO 1.0086 1.0201
63 ECONOMIC TOTAL EXPENSE RATIO 1.2073 1.1697
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 145,338 146,432 218,319 234,733
65 NONCURRENT ASSETS 472,134 479,129 625,577 640,879
66 CURRENT LIABILITIES 62,992 53,142 131,857 159,808
67 NONCURRENT LIABILITIES 82,045 84,428 184,277 192,227
68 CURRENT RATIO 2.31 2.76 1.66 1.47
69 DEBT TO ASSET RATIO .23 .22 .37 .40
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
ANALYSIS OF THE FARM BUSINESS
**BY ACRES *** 1001 - 1500 *** *** 1501 - 2000 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 16,091 38,228
71 MACHINERY AND EQUIPMENT 61,533 114,755
72 MOTOR VEHICLES & LISTED PROPERTY 64,920 94,100
73 BUILDINGS 14,919 25,704
74 OWNED LAND 290,603 387,078
75 TOTAL ASSETS 621,516 859,754
76 NET WORTH 480,213 525,669
LABOR
77 NUMBER OF OPERATORS .92 .97
78 NUMBER OF WORKERS 1.15 1.45
79 TOTAL WORK DAYS 204 266
80 VALUE FARM PRODUCTION/WORKER 167,923 192,609
81 NET FARM INCOME/WORKER 28,970 22,268
PER OPERATOR BASIS
82 TOTAL ASSETS 669,589 886,006
83 VALUE OF FARM PRODUCTION 208,280 289,648
84 NET FARM INCOME 35,932 33,486
OTHER FACTORS
85 % CROP ACRES IRRIGATED 22.69 18.85
86 % TILLABLE LAND 81.14 75.88
87 CROP MACH COST/TOT EXPENSE(%) 35.32 27.92
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 1507 39 821 30 1004 34 2290 27 1023 22 1710 23
89 NON-IRRIGATED CROP ACRES 970 38 589 29 659 30 1410 27 644 21 1067 23
90 IRRIGATED CROP ACRES 515 21 337 11 444 16 402 22 312 11 361 15
91 TOTAL CROP ACRES 1222 39 693 30 815 33 1738 27 807 21 1303 23
92 PASTURE ACRES 629 17 281 13 587 12 863 17 455 12 837 11
93 FARMSTEAD ACRES 29 13 19 10 21 9 31 8 19 5
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 1222 733 1738 1115
95 CROP MACHINERY INVESTMENT 116,188 95.05 158.56 189,522 109.07 169.95
96 CROP MACHINERY COST 56,505 46.22 77.11 69,393 39.94 62.23
97 GROSS CROP VALUE 167,607 137.11 228.73 233,001 134.09 208.94
98 CROP PRODUCTION COSTS 142,901 116.90 195.02 189,894 109.28 170.29
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 15 202 123 62.2 205 60.1 22 315 157 58.2 288 56.7
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 33 414 233 29.6 365 28.9 26 519 254 31.7 446 26.4
104 OTHER CROPS
105 ALFALFA
106 OTHER HAY & FORAGE 6 75 35 8 80 46 103
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 14 334 147 188.5 331 210.6 16 209 165 198.0 218 211.5
111 GRAIN SORGHUM 5 153 10 126 132 129.9
112 SOYBEANS 7 209 148 59.0 9 121 111 50.4 107 55.4
113 SUNFLOWERS
114 WHEAT 14 197 192 35.0 163 45.3 11 152 140 41.2 139 49.5
115 OTHER CROPS
116 ALFALFA 5 217 163 5.7 6 187 196 3.7
117 OTHER HAY & FORAGE 5 38
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 8 12
122 DAIRY COWS
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 93 119
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
INCOME AND EXPENSE ANALYSIS
**BY ACRES *** 2001 - 2500 *** *** 2501 - 3000 ***
18 FARMS 19 FARMS
ITEM PER FARM PER FARM
1 BEEF 33,464 36,096
2 DAIRY AND MILK 16,467
3 SHEEP
4 SWINE
5 POULTRY AND EGGS
6 OTHER LIVESTOCK 1,952- 141-
7 CUSTOM FEEDING 2,303
8 FEED PURCHASED 9,869- 5,526-
9 LIVESTOCK INCOME $40,413 $30,429
10 CORN 34,538 89,983
11 GRAIN SORGHUM 10,493 29,604
12 SOYBEANS 6,439 10,352
13 SUNFLOWERS 2,145
14 WHEAT 67,428 76,232
15 HAY AND FORAGE 29,678 5,808
16 OTHER CROP 7- 588
17 GOVERNMENT PAYMENTS 39,140 53,652
18 CROP INSURANCE PROCEEDS 17,957 20,356
19 OTHER INCOME 28,332 20,801
20 VALUE OF FARM PRODUCTION $276,557 $337,805
21 HIRED LABOR 30,213 20,836
22 MACHINERY REPAIRS 29,749 26,656
23 IRRIGATION REPAIRS 4,150 2,679
24 BUILDING REPAIRS 2,370 1,208
25 INTEREST PAID 9,700 19,799
26 SEED-OTHER CROP EXPENSE 13,709 29,517
27 CROP INSURANCE 6,918 11,516
28 FERTILIZER-LIME 21,011 40,434
29 MACHINE HIRE 10,942 29,552
30 ORGANIZATION FEE, PUBLICATION 2,488 3,373
31 VET-MED-DRUGS 2,059 1,946
32 CROP STORAGE-MARKETING 1,189 1,591
33 LIVESTOCK MARKETING-BREEDING 1,105 377
34 DAIRY EXPENSE 154
35 GAS-FUEL-OIL 20,034 15,608
36 IRRIGATION ENERGY 14,813 23,169
37 REAL ESTATE TAXES 5,561 4,806
38 PERSONAL PROPERTY TAXES 940 1,063
39 GENERAL FARM INSURANCE 6,076 6,286
40 UTILITIES 5,118 4,639
41 CASH FARM RENT 10,203 14,141
42 HERBICIDE-INSECTICIDE 17,182 23,158
43 CONSERVATION 466 255
44 AUTO EXPENSE 671 527
45 TOTAL OPERATING EXPENSE $216,822 $283,135
46 DEPRECIATION-MACHINERY 24,830 24,825
47 DEPRECIATION-BUILDINGS 2,664 1,165
48 TOTAL FARM EXPENSE $244,316 $309,125
49 NET FARM INCOME $32,241 $28,681
50 UNPAID FAMILY LABOR 2,000
51 UNPAID OPERATOR LABOR 27,750 28,421
52 MANAGEMENT CHARGE 11,524 10,280
53 CURRENT ASSET CHARGE - 8% 15,588 7,225
54 NONCURRENT ASSET CHARGE - 8% 51,951 37,766
55 RETURN LABOR-MANAGEMENT 37,298- 16,310-
56 RETURN TO CAPITAL 667 9,779
57 ASSET TURNOVER RATIO .2610 .3877
58 OPERATING PROFIT MARGIN RATIO .0024 .0289
59 % RETURN ON ASSETS .0006 .0112
60 % RETURN ON EQUITY .0107- .0178-
61 TOTAL EXPENSE RATIO .8834 .9151
62 ADJUSTED TOTAL EXPENSE RATIO 1.0327 1.0297
63 ECONOMIC TOTAL EXPENSE RATIO 1.2769 1.1628
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 276,869 293,789 215,699 209,203
65 NONCURRENT ASSETS 767,632 780,807 662,862 654,836
66 CURRENT LIABILITIES 86,414 94,553 127,688 116,596
67 NONCURRENT LIABILITIES 125,119 124,550 180,673 192,885
68 CURRENT RATIO 3.20 3.11 1.69 1.79
69 DEBT TO ASSET RATIO .20 .20 .35 .36
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
ANALYSIS OF THE FARM BUSINESS
**BY ACRES *** 2001 - 2500 *** *** 2501 - 3000 ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 18,522 14,882
71 MACHINERY AND EQUIPMENT 111,728 106,456
72 MOTOR VEHICLES & LISTED PROPERTY 119,433 91,730
73 BUILDINGS 31,676 13,141
74 OWNED LAND 472,239 411,189
75 TOTAL ASSETS 1,059,549 871,300
76 NET WORTH 844,231 562,378
LABOR
77 NUMBER OF OPERATORS 1.02 1.05
78 NUMBER OF WORKERS 1.77 1.50
79 TOTAL WORK DAYS 334 347
80 VALUE FARM PRODUCTION/WORKER 156,051 224,416
81 NET FARM INCOME/WORKER 18,192 19,054
PER OPERATOR BASIS
82 TOTAL ASSETS 1,030,912 827,735
83 VALUE OF FARM PRODUCTION 269,082 320,915
84 NET FARM INCOME 31,369 27,247
OTHER FACTORS
85 % CROP ACRES IRRIGATED 17.53 11.46
86 % TILLABLE LAND 77.74 85.76
87 CROP MACH COST/TOT EXPENSE(%) 36.41 32.43
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 2929 18 1506 15 1674 18 3136 19 1066 17 2182 19
89 NON-IRRIGATED CROP ACRES 1878 18 968 15 1134 17 2381 19 764 17 1698 19
90 IRRIGATED CROP ACRES 718 10 267 5 835 7 488 12 218 7 394 11
91 TOTAL CROP ACRES 2277 18 1057 15 1396 18 2689 19 854 17 1925 19
92 PASTURE ACRES 896 13 742 9 552 9 1157 7 579 6 925 5
93 FARMSTEAD ACRES 42 9 17 8 48 5
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 2277 1340 2689 1646
95 CROP MACHINERY INVESTMENT 214,495 94.21 160.06 183,459 68.22 111.43
96 CROP MACHINERY COST 88,948 39.07 66.38 100,254 37.28 60.89
97 GROSS CROP VALUE 237,794 104.44 177.45 306,953 114.13 186.44
98 CROP PRODUCTION COSTS 226,747 94.06 159.81 268,401 99.80 163.03
NON-IRRIGATED ACRES AVE. OWNED RENTED AVE. OWNED RENTED
CNT ACRES ACRES YIELD ACRES YIELD CNT ACRES ACRES YIELD ACRES YIELD
99 CORN 4 220
100 GRAIN SORGHUM 12 287 99 74.9 285 54.0 15 385 101 60.9 355 55.5
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 18 705 395 25.7 472 27.0 19 938 342 28.9 722 33.4
104 OTHER CROPS
105 ALFALFA
106 OTHER HAY & FORAGE 8 80 69 72 4 72 62
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 6 316 432 181.9 5 320 357 216.9
111 GRAIN SORGHUM 6 128 99 86.7 6 167 150 111.9 100 139.6
112 SOYBEANS 4 142 142 38.4 7 193 173 52.9
113 SUNFLOWERS
114 WHEAT 5 346 352 35.1 9 209 203 54.3
115 OTHER CROPS
116 ALFALFA
117 OTHER HAY & FORAGE 4 179
118 VEGETABLES
119 TRUCK CROPS
120 FRUIT - FLOWERS - TREES
AVERAGE LIVESTOCK INVENTORIES AND SALES
121 BEEF COWS 1 7
122 DAIRY COWS 8
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 59 105
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
%%ISCC CHANGE_OVERLAY SUMMF2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
INCOME AND EXPENSE ANALYSIS
**BY ACRES *** 3001 - 3500 *** *** 3501 - ***
6 FARMS 15 FARMS
ITEM PER FARM PER FARM
1 BEEF 25,677 73,126
2 DAIRY AND MILK
3 SHEEP 14-
4 SWINE
5 POULTRY AND EGGS
6 OTHER LIVESTOCK 10
7 CUSTOM FEEDING 33,637
8 FEED PURCHASED 13,541- 29,869-
9 LIVESTOCK INCOME $12,136 $76,890
10 CORN 147,925 120,047
11 GRAIN SORGHUM 24,550 34,184
12 SOYBEANS 24,553 2,747
13 SUNFLOWERS 6,486 294
14 WHEAT 67,026 63,448
15 HAY AND FORAGE 29,936 24,929
16 OTHER CROP 3,333 3,579
17 GOVERNMENT PAYMENTS 65,137 73,239
18 CROP INSURANCE PROCEEDS 14,136 20,826
19 OTHER INCOME 17,633 66,394
20 VALUE OF FARM PRODUCTION $412,850 $486,576
21 HIRED LABOR 17,771 32,616
22 MACHINERY REPAIRS 25,457 28,781
23 IRRIGATION REPAIRS 9,888 4,682
24 BUILDING REPAIRS 945 2,183
25 INTEREST PAID 17,319 16,663
26 SEED-OTHER CROP EXPENSE 37,880 36,325
27 CROP INSURANCE 17,322 6,440
28 FERTILIZER-LIME 58,671 35,896
29 MACHINE HIRE 29,518 53,269
30 ORGANIZATION FEE, PUBLICATION 5,415 3,436
31 VET-MED-DRUGS 4,097 4,600
32 CROP STORAGE-MARKETING 1,214 1,533
33 LIVESTOCK MARKETING-BREEDING 1,485 2,123
34 DAIRY EXPENSE
35 GAS-FUEL-OIL 24,689 28,824
36 IRRIGATION ENERGY 36,413 40,002
37 REAL ESTATE TAXES 4,842 6,998
38 PERSONAL PROPERTY TAXES 1,801 1,093
39 GENERAL FARM INSURANCE 8,066 8,241
40 UTILITIES 6,660 5,604
41 CASH FARM RENT 1,758 16,555
42 HERBICIDE-INSECTICIDE 34,425 40,704
43 CONSERVATION 457
44 AUTO EXPENSE 442 628
45 TOTAL OPERATING EXPENSE $346,078 $377,652
46 DEPRECIATION-MACHINERY 32,873 32,899
47 DEPRECIATION-BUILDINGS 1,854 2,964
48 TOTAL FARM EXPENSE $380,805 $413,515
49 NET FARM INCOME $32,045 $73,061
50 UNPAID FAMILY LABOR 2,250 450
51 UNPAID OPERATOR LABOR 27,000 33,300
52 MANAGEMENT CHARGE 11,616 20,010
53 CURRENT ASSET CHARGE - 8% 2,176 13,170
54 NONCURRENT ASSET CHARGE - 8% 39,649 67,091
55 RETURN LABOR-MANAGEMENT 12,030- 7,650-
56 RETURN TO CAPITAL 8,498 35,964
57 ASSET TURNOVER RATIO .4321 .3575
58 OPERATING PROFIT MARGIN RATIO .0206 .0739
59 % RETURN ON ASSETS .0089 .0264
60 % RETURN ON EQUITY .0169- .0192
61 TOTAL EXPENSE RATIO .9224 .8498
62 ADJUSTED TOTAL EXPENSE RATIO 1.0214 .9603
63 ECONOMIC TOTAL EXPENSE RATIO 1.1227 1.1253
ASSETS/LOANS/FINANCIAL RATIOS JANUARY 1 DECEMBER 31 JANUARY 1 DECEMBER 31
64 CURRENT ASSETS 288,464 261,452 308,964 325,715
65 NONCURRENT ASSETS 638,788 722,208 1,026,965 1,060,277
66 CURRENT LIABILITIES 229,179 266,329 151,743 153,698
67 NONCURRENT LIABILITIES 167,039 202,737 200,049 209,911
68 CURRENT RATIO 1.26 .98 2.04 2.12
69 DEBT TO ASSET RATIO .43 .48 .26 .26
%%ISCC CHANGE_OVERLAY SUMMB2003
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2004 KANSAS FARM MANAGEMENT ASSOCIATION, SW
ANALYSIS OF THE FARM BUSINESS
**BY ACRES *** 3001 - 3500 *** *** 3501 - ***
AVERAGE ASSET & NET WORTH VALUES
70 BREEDING LIVESTOCK 9,460 20,345
71 MACHINERY AND EQUIPMENT 128,519 127,750
72 MOTOR VEHICLES & LISTED PROPERTY 103,618 151,859
73 BUILDINGS 20,538 33,792
74 OWNED LAND 406,980 689,168
75 TOTAL ASSETS 955,456 1,360,961
76 NET WORTH 522,814 1,003,261
LABOR
77 NUMBER OF OPERATORS 1.00 1.23
78 NUMBER OF WORKERS 1.68 2.32
79 TOTAL WORK DAYS 567 573
80 VALUE FARM PRODUCTION/WORKER 245,257 209,731
81 NET FARM INCOME/WORKER 19,037 31,492
PER OPERATOR BASIS
82 TOTAL ASSETS 955,456 1,103,482
83 VALUE OF FARM PRODUCTION 412,850 394,521
84 NET FARM INCOME 32,045 59,239
OTHER FACTORS
85 % CROP ACRES IRRIGATED 27.03 14.00
86 % TILLABLE LAND 90.97 92.64
87 CROP MACH COST/TOT EXPENSE(%) 33.52 25.79
ACRES TOTAL CNT OWNED CNT RENTED CNT TOTAL CNT OWNED CNT RENTED CNT
88 TOTAL ACRES 3458 6 738 6 2719 6 5008 15 1802 13 3446 15
89 NON-IRRIGATED CROP ACRES 2295 6 427 6 1869 6 3990 15 1319 13 2847 15
90 IRRIGATED CROP ACRES 1949 5 1438 5
91 TOTAL CROP ACRES 3146 6 638 6 2508 6 4640 15 1516 13 3326 15
92 PASTURE ACRES 890 6 721 5
93 FARMSTEAD ACRES 38 5 24 5
CROP VALUE, COSTS, ACRES TOTAL PER CROP ACRE PER HARV.ACRE TOTAL PER CROP ACRE PER HARV.ACRE
94 ACRES 3146 2090 4640 2332
95 CROP MACHINERY INVESTMENT 224,286 71.30 107.32 252,240 54.36 108.15
96 CROP MACHINERY COST 127,652 40.58 61.08 106,650 22.99 45.73
97 GROSS CROP VALUE 505,101 160.58 241.68 392,045 84.49 168.10
98 CROP PRODUCTION COSTS 364,406 115.85 174.36 316,521 68.22 135.71
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 5 465 420 53.5 10 548 396 54.8 389 41.2
101 SOYBEANS
102 SUNFLOWERS
103 WHEAT 6 602 78 24.5 550 26.1 15 1243 360 19.8 955 21.0
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 4 587 415 217.9
111 GRAIN SORGHUM 4 378
112 SOYBEANS
113 SUNFLOWERS
114 WHEAT 4 368 288 59.4
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 4 26
122 DAIRY COWS
123 EWES
124 SOWS
125 BEEF PURCHASED FOR RESALE SALES 212 260
126 SWINE PURCHASED FOR RESALE SALES
127 TURKEYS
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